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lord_n honourable_a london_n right_n 15,695 5 6.6784 4 false
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ID Title Author Corrected Date of Publication (TCP Date of Publication) STC Words Pages
A38195 An account of some transactions in the honourable House of Commons, and before the right honourable Lords of the King's most honourable Privy Council, relating to the late East=India Company together with the said companies new charter. England and Wales. Parliament. 1693 (1693) Wing E2503; ESTC R32900 21,455 28

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a_o account_n of_o some_o transaction_n in_o the_o honourable_a house_n of_o commons_o and_o before_o the_o right_n honourable_a lord_n of_o the_o king_n be_v most_o honourable_a privy_a council_n relate_v to_o the_o late_a east-india_n company_n together_o with_o the_o say_a company_n new_a charter_n london_n print_v in_o the_o year_n mdcxciii_o a_o account_n of_o some_o transaction_n in_o the_o honourable_a house_n of_o commons_o and_o before_o the_o right_n honourable_a lord_n of_o the_o committee_n of_o the_o king_n most_o honourable_a privy_a council_n relate_v to_o the_o late_a east-india_n company_n sabbati_fw-la 6._o die_v februarii_fw-la 1691._o resolve_v that_o a_o humble_a address_n be_v make_v to_o his_o majesty_n to_o dissolve_v the_o present_a east-india_n company_n according_a to_o his_o power_n reserve_v in_o their_o charter_n and_o to_o constitute_v another_o east-india_n company_n for_o the_o better_a preserve_v the_o east-india_n trade_n to_o this_o kingdom_n in_o such_o manner_n as_o his_o majesty_n in_o his_o royal_a wisdom_n shall_v think_v fit_a resolve_v that_o the_o say_a address_n be_v present_v by_o the_o whole_a house_n jovis_n 11._o die_v februarii_fw-la 1691._o mr._n speaker_n report_a to_o the_o house_n that_o he_o do_v yesterday_o present_a to_o his_o majesty_n their_o humble_a address_n touch_v the_o east-india_n company_n and_o that_o his_o majesty_n be_v please_v to_o express_v himself_o to_o this_o effect_n that_o it_o be_v a_o matter_n of_o very_o great_a importance_n to_o the_o trade_n of_o this_o kingdom_n and_o that_o it_o can_v not_o be_v expect_v that_o he_o shall_v give_v a_o present_a answer_n to_o it_o but_o that_o he_o will_v take_v time_n to_o consider_v of_o it_o and_o in_o a_o short_a time_n give_v they_o his_o positive_a answer_n upon_o which_o some_o time_n after_o the_o company_n have_v first_o agree_v to_o submit_v to_o such_o regulation_n as_o shall_v be_v make_v and_o declare_v their_o submission_n in_o write_v the_o right_a honourable_a the_o lord_n of_o the_o committee_n of_o his_o majesty_n most_o honourable_a privy_a council_n to_o who_o that_o matter_n be_v refer_v agree_v on_o these_o follow_a proposition_n which_o be_v send_v to_o the_o company_n viz._n proposition_n for_o regulate_v the_o east-india_n company_n from_o the_o right_n honourable_a the_o earl_n of_o nottingham_n their_o majesty_n principal_a secretary_n of_o state_n i._o proposition_n the_o fund_z to_o be_v make_v up_o 1500000_o at_o least_o and_o not_o to_o exceed_v two_o million_o ii_o prop._n the_o stock_n of_o the_o present_a company_n to_o be_v part_n of_o this_o fund_z and_o to_o be_v rate_v at_o 744000_o l._n if_o they_o can_v give_v security_n that_o it_o shall_v effectual_o produce_v that_o sum_n or_o else_o at_o so_o much_o less_o as_o they_o will_v engage_v to_o make_v good_a after_o all_o debt_n pay_v and_o satisfaction_n make_v to_o the_o mogul_n and_o his_o subject_n against_o who_o pretension_n the_o new_a stock_n to_o be_v indemnify_v by_o like_a security_n iii_o prop._n that_o the_o say_a stock_n of_o the_o present_a company_n shall_v be_v bring_v home_o any_o time_n within_o year_n in_o the_o ship_n abroad_o or_o those_o to_o be_v send_v on_o account_n of_o the_o new_a stock_n pay_v the_o same_o freight_n and_o dispose_v of_o at_o public_a sales_n by_o the_o member_n of_o the_o present_a company_n and_o the_o net_n proceed_v thereof_o to_o be_v take_v as_o part_v of_o the_o 744000_o l._n as_o shall_v also_o the_o value_n of_o their_o fort_n etc._n etc._n to_o be_v estimate_v by_o indifferent_a person_n and_o put_v into_o the_o hand_n of_o the_o charter_n company_n but_o after_o day_n no_o good_n to_o be_v export_v to_o the_o east-indies_n on_o account_n of_o the_o old_a stock_n iu_o prop._n that_o whatever_o the_o quick_a and_o dead_a stock_n shall_v thus_o produce_v more_o than_o 744000_o l._n shall_v be_v divide_v whole_o between_o the_o member_n of_o the_o present_a company_n proportionable_o to_o their_o respective_a stock_n v._o prop._n book_n to_o be_v provide_v for_o new_a subscription_n within_o and_o then_o the_o book_n to_o be_v close_v vi_o prop._n if_o the_o subscription_n exceed_v two_o million_o each_o subscriber_n to_o be_v reduce_v proportionable_o till_o the_o whole_a make_v but_o two_o million_o vii_o prop._n that_o every_o subscriber_n pay_v in_o his_o money_n upon_o pain_n viii_o prop._n no_o one_o person_n to_o have_v above_o 10000_o l._n in_o this_o stock_n in_o his_o own_o or_o other_o name_n in_o trust_n for_o he_o and_o every_o subscriber_n shall_v make_v oath_n according_o and_o that_o it_o be_v his_o own_o money_n ix_o prop._n that_o every_o member_n of_o the_o present_a company_n who_o have_v above_o 10000_o l._n stock_n shall_v sell_v forthwith_o the_o overplus_n at_o the_o rate_n of_o 100_o l._n for_o 100_o l._n but_o so_o that_o if_o the_o whole_a net_n proceed_v of_o the_o present_a stock_n exceed_v 744000_o l._n this_o overplus_n shall_v go_v to_o the_o person_n that_o have_v sell_v his_o overplus_n stock_n proportionable_o to_o the_o share_v he_o have_v before_o such_o sale_n x._o prop._n no_o person_n to_o have_v a_o vote_n that_o have_v in_o his_o own_o right_n and_o not_o in_o trust_n less_o than_o 500_o l._n stock_n nor_o more_o than_o one_o vote_n unless_o he_o have_v 4000_o l._n and_o then_o 2_o vote_n and_o if_o 6000_o l._n 3_o vote_n 8000_o l._n 4_o vote_n and_o 10000_o l._n 5_o vote_n xi_o prop._n all_o member_n of_o the_o present_a company_n and_o new_a subscriber_n to_o be_v incorporate_v by_o the_o name_n of_o xii_o prop._n all_o who_o have_v or_o subscribe_v 500_o l._n stock_n to_o meet_v and_o choose_v a_o governor_n deputy_n and_o 24_o committee_n to_o manage_v the_o trade_n none_o to_o be_v governor_n or_o deputy_n who_o have_v or_o have_v subscribe_v less_o than_o 2000_o l._n stock_n nor_o committee_n 1000_o l._n stock_n xiii_o prop._n the_o governor_n deputy_n and_o committee_n to_o be_v choose_v every_o year_n and_o if_o any_o die_v within_o the_o year_n other_o to_o be_v choose_v by_o a_o general_n court_n fourteen_o prop._n the_o governor_n deputy_n and_o committee_n to_o take_v the_o oath_n of_o fidelity_n etc._n etc._n and_o also_o a_o oath_n for_o the_o faithful_a discharge_n of_o their_o trust_n xv._o prop._n that_o every_o one_o purchase_v any_o stock_n shall_v take_v his_o freedom_n and_o before_o his_o admittance_n pay_v for_o a_o fine_a and_o take_v the_o oath_n appoint_v xvi_o prop._n that_o all_o free_a of_o the_o former_a company_n or_o capable_a to_o be_v so_o and_o all_o subscribe_v to_o the_o present_a stock_n shall_v be_v admit_v gratis_o xvii_o prop._n that_o the_o company_n hereby_o establish_v may_v make_v by-law_n for_o their_o better_a government_n that_o no_o by-law_n shall_v be_v bind_v to_o the_o company_n but_o such_o as_o be_v approve_v by_o a_o general_n court_n of_o adventurer_n and_o be_v not_o repugnant_a to_o the_o law_n of_o the_o land_n xviii_o prop._n that_o every_o general_a court_n and_o committee_n be_v call_v by_o the_o governor_n or_o deputy_n at_o all_o which_o the_o governor_n or_o deputy_n shall_v be_v present_a and_o in_o case_n of_o equality_n of_o voice_n shall_v have_v a_o cast_a voice_n xix_o prop._n that_o the_o company_n shall_v enjoy_v the_o sole_a trade_n to_o the_o east-indies_n in_o the_o several_a country_n lie_v and_o be_v between_o the_o cape_n de_fw-fr bona_n esperanza_n and_o the_o strait_n of_o magellan_n xx._n prop._n that_o it_o shall_v not_o be_v lawful_a for_o any_o save_o the_o say_a company_n only_o direct_o or_o indirect_o to_o trade_n within_o the_o limit_n grant_v to_o the_o say_a company_n on_o pain_n of_o forfeit_v xxi_o prop._n that_o no_o licence_n or_o permission_n shall_v be_v grant_v to_o any_o person_n or_o ship_n to_o trade_n to_o the_o east-indies_n on_o any_o private_a account_n and_o that_o all_o such_o permission_n shall_v be_v void_a xxii_o prop._n that_o there_o shall_v be_v no_o private_a contract_n for_o the_o sale_n of_o any_o good_n but_o they_o shall_v be_v all_o sold_n in_o public_a by_o inch_n of_o candle_n for_o the_o company_n account_v xxiii_o prop._n that_o no_o lot_n of_o any_o good_n to_o be_v sell_v shall_v exceed_v the_o value_n of_o 500_o l._n xxiv_o prop._n every_o year_n the_o company_n shall_v deliver_v to_o their_o majesty_n use_n 500_o tun_n of_o salt-peter_n at_o per_fw-la tun_n if_o require_v the_o refraction_n not_o exceed_v xxv_o prop._n that_o the_o company_n shall_v yearly_o export_v to_o the_o east-indies_n not_o less_o than_o the_o value_n of_o 100000_o l._n in_o good_n of_o the_o product_n and_o manufacture_n of_o england_n xxvi_o prop._n that_o all_o dividend_n be_v make_v in_o money_n xxvii_o prop._n that_o no_o dividend_n be_v make_v without_o leave_v the_o original_a fund_z or_o at_o least_o 1500000_o l._n beside_o what_o
answ_n this_o be_v such_o a_o constrain_v proposition_n as_o be_v never_o make_v to_o any_o company_n all_o company_n have_v ship_n of_o their_o own_o and_o hire_v ship_n and_o best_a know_v when_o to_o use_v the_o one_o or_o the_o other_o and_o there_o be_v few_o merchant_n considerable_a in_o europe_n that_o have_v not_o both_o and_o it_o be_v never_o think_v or_o find_v political_n to_o put_v trade_n into_o such_o straitlaced_n body_n which_o instead_o of_o make_v it_o grow_v upright_a and_o prosper_v will_v either_o kill_v it_o or_o force_v it_o to_o grow_v awry_o this_o be_v the_o language_n with_o which_o the_o late_a company_n treat_v those_o honourable_a lord_n call_v some_o of_o their_o proposition_n impossible_a as_o well_o as_o unjust_a other_o notorious_o prejudicial_a to_o the_o nation_n one_o without_o any_o shadow_n of_o reason_n or_o equity_n another_o a_o trick_n another_o a_o most_o impolitic_a notion_n etc._n etc._n have_v answer_v the_o aforesaid_a proposition_n the_o company_n humble_o desire_v that_o the_o follow_a proposition_n may_v be_v consider_v first_o if_o any_o alteration_n shall_v be_v make_v of_o the_o present_a constitution_n by_o his_o majesty_n the_o same_o man_n viz._n interloper_n and_o their_o adherent_n and_o such_o as_o have_v sell_v their_o stock_n at_o high_a rate_n and_o then_o cry_v down_o the_o company_n to_o fright_v the_o adventurer_n and_o come_v in_o again_o at_o low_a rate_n whether_o such_o sort_n of_o man_n after_o his_o majesty_n have_v grant_v a_o new_a charter_n will_v not_o to_o serve_v another_o turn_n exclaim_v against_o it_o in_o defamation_n of_o his_o majesty_n just_a prerogative_n second_o whether_o any_o thing_n such_o man_n have_v say_v that_o carry_v any_o appearanc_fw-la of_o truth_n be_v not_o the_o same_o again_o which_o be_v say_v above_o 20_o year_n past_a and_o many_o time_n since_o in_o the_o two_o last_o reign_n and_o as_o often_o answer_v and_o confute_v three_o whether_o the_o spirit_n of_o clamour_n and_o opposition_n against_o the_o company_n which_o centre_n in_o some_o few_o know_a person_n whether_o those_o person_n be_v man_n of_o better_a fortune_n or_o more_o regular_a life_n or_o great_a prudence_n or_o otherwise_o preferrible_a to_o the_o present_a adventurer_n in_o the_o east-india-company-stock_n four_o whether_o consider_v the_o two_o war_n this_o company_n have_v grapple_v with_o in_o india_n and_o a_o worse_a kind_n of_o civil_a broil_n the_o interloper_n force_v they_o to_o more_o pernicious_a to_o the_o company_n than_o both_o the_o war_n in_o india_n whether_o the_o company_n notwithstanding_o their_o say_a pressure_n have_v not_o manage_v their_o affair_n to_o as_o much_o national_a advantage_n and_o profit_n to_o their_o fellow-adventurer_n as_o any_o east-india_n company_n in_o europe_n five_o that_o without_o restraint_n cramp_v or_o take_v care_n for_o rotaion_n or_o change_n in_o the_o east-india_n company_n the_o whole_a stock_n without_o 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very_o late_a purchaser_n which_o be_v never_o of_o the_o committee_n before_o this_o year_n seven_o if_o it_o be_v think_v by_o any_o that_o envy_n the_o company_n good_a fortune_n that_o some_o few_o of_o the_o company_n be_v too_o rich_a and_o powerful_a in_o the_o committee_n the_o company_n answer_n that_o to_o cure_v that_o if_o it_o be_v a_o fault_n there_o need_v no_o new_a law_n nor_o article_n in_o any_o charter_n for_o a_o very_a few_o year_n will_v cure_v that_o without_o such_o preternatural_a force_n for_o that_o the_o son_n of_o such_o man_n be_v never_o know_v to_o succeed_v their_o father_n in_o the_o painful_a fatigue_n of_o the_o company_n affair_n but_o do_v always_o settle_v themselves_o upon_o a_o easy_a course_n of_o life_n by_o a_o revenue_n in_o land_n eight_o if_o there_o be_v some_o of_o the_o present_a adventurer_n that_o have_v courage_n enough_o to_o keep_v their_o stock_n and_o never_o sell_v any_o part_n thereof_o during_o all_o those_o violent_a and_o unreasonable_a attempt_n that_o have_v be_v make_v against_o the_o company_n whether_o such_o person_n do_v not_o rather_o deserve_v the_o thanks_o which_o the_o roman_a senate_n give_v terentius_n varro_n quod_fw-la non_fw-la desperasset_fw-la de_fw-fr republica_n than_o any_o blame_v nine_o the_o company_n nor_o peradventure_o any_o great_a business_n in_o the_o world_n do_v ever_o thrive_v where_o some_o one_o or_o two_o man_n or_o very_o few_o do_v not_o arrive_v to_o so_o much_o reputation_n as_o machiavelli_n call_v it_o as_o to_o be_v able_a to_o moderate_v the_o council_n of_o the_o commonwealth_n or_o society_n so_o it_o be_v now_o in_o the_o netherlands_o east-india_n company_n and_o so_o it_o be_v ever_o in_o the_o english_a east-india_n company_n except_o for_o the_o first_o seven_o year_n after_o the_o last_o change_n in_o which_o seven_o year_n the_o stock_n and_o the_o company_n affair_n dwindle_v almost_o to_o nothing_o until_o sir_n william_n thompson_n decease_v a_o gentleman_n of_o famous_a prudence_n and_o integrity_n arrive_v at_o that_o reputation_n that_o in_o effect_n he_o govern_v the_o whole_a affair_n of_o the_o company_n until_o the_o day_n of_o his_o death_n and_o under_o his_o say_a conduct_n the_o company_n affair_n do_v revive_v and_o prosper_v and_o have_v since_o his_o death_n more_o increase_v by_o happy_a method_n derive_v from_o his_o wisdom_n original_o his_o worthy_a son_n and_o posterity_n be_v now_o settle_v upon_o estate_n in_o land_n and_o have_v not_o concern_v in_o the_o company_n sign_v by_o order_n of_o the_o court_n of_o commit_v rob._n blackborne_n east-india_n house_n 20_o may_n 1692._o whereupon_o the_o next_o session_n viz._n lunae_fw-la 14._o die_v novembris_fw-la 1692._o sir_n edward_n seymour_n acquaint_v the_o house_n that_o he_o have_v a_o message_n from_o his_o majesty_n in_o answer_n to_o the_o address_n of_o this_o house_n the_o last_o session_n in_o relation_n to_o the_o east-india_n company_n the_o which_o he_o deliver_v in_o write_v at_o the_o table_n where_o the_o same_o be_v read_v in_o these_o word_n viz._n the_o house_n of_o commons_o have_v present_v a_o address_n to_o the_o king_n to_o dissolve_v the_o present_a east-india_n company_n according_a to_o the_o power_n reserve_v in_o their_o charter_n and_o to_o constitute_v a_o new_a one_o his_o majesty_n take_v into_o consideration_n the_o proper_a method_n of_o comply_v with_o their_o desire_n and_o of_o secure_v effectual_o this_o advantageous_a trade_n to_o the_o nation_n but_o his_o majesty_n upon_o examination_n of_o the_o charter_n and_o consult_v his_o judge_n and_o learned_a council_n find_v that_o he_o can_v not_o legal_o dissolve_v the_o company_n but_o upon_o three_o year_n warn_v and_o that_o during_o the_o three_o year_n after_o warning_n the_o company_n must_v subsist_v and_o may_v continue_v to_o trade_n and_o that_o though_o the_o king_n may_v constitute_v a_o new_a company_n yet_o he_o can_v not_o empower_v such_o new_a company_n to_o trade_n ●till_o after_o three_o year_n the_o crown_n have_v express_o covenant_v not_o to_o grant_v any_o such_o liberty_n hereupon_o his_o majesty_n be_v very_o apprehensive_a of_o the_o ill_a consequence_n of_o give_v warning_n to_o the_o company_n because_o they_o will_v be_v then_o less_o solicitous_a of_o promote_a the_o true_a interest_n and_o advantage_n of_o the_o trade_n whereof_o they_o can_v not_o long_o reap_v the_o fruit_n and_o that_o no_o new_a company_n can_v be_v immediate_o admit_v to_o it_o so_o that_o this_o very_a beneficial_a trade_n which_o be_v already_o so_o much_o impair_v may_v be_v in_o danger_n of_o be_v entire_o lose_v to_o the_o nation_n his_o majesty_n be_v very_o desirous_a to_o prevent_v so_o great_a a_o mischief_n and_o to_o gratify_v the_o house_n of_o commons_o in_o the_o end_n since_o he_o can_v not_o do_v it_o without_o great_a hazard_n in_o the_o manner_n they_o propose_v require_v the_o east-india_n company_n to_o answer_v direct_o whether_o they_o