A JOURNAL OF Several Remarkable Passages BEFORE The Honourable House of Commons and the Right Honourable the Lords of Their Majesties Most Honourable Privy Council RELATING TO The East-India Trade THE Ruinous Condition of our Trade to the East-Indies having put several Merchants and others upon considering by what means so Advantagious and Profitable a Trade might be secured from being utterly lost to this Kingdom and if possible be re-establisht It was concluded that the most likely way to obtain that end was to endeavour the procuring an Act of Parliament for establishing a new East-India Company founded on a new and sufficient National Joint-Stock clear of all Incumbrances Whereupon those Merchants prepared the following Petition which was delivered to the Honourable House of Commons the 23 October 1691. Praying such an Establishment To the Honourable the Commons of England in Parliament Assembled The Humble Petition of several Merchants and Traders in and about the City of London and other Their Majesties Subjects Sheweth THat the Trade to East India is of great Importance to this Nation and yet by the manifold abuses and unlawful Practices of the present East India Company both at home and abroad who have managed the same only for their Private Gain without any regard to the Publick Good the said Trade is like to be utterly lost to this Kingdom and to fall into the hands of Foreiners unless timely prevented by some better Regulation thereof on a New Joint-Stock and Constitution Your Petitioners therefore most Humbly pray this Honourable House for preventing so National a mischief to take into your Consideration the Establishing a New East-India Company in such manner and with such Powers and Limitations as in your great Wisdom shall be thought most conducing to the preservation of so beneficial a Trade to this Kingdom And Your Petitioners shall ever Pray c. This Petition was Signed by a great Number of Gentlemen Merchants and other Traders who together with several Noble Lords shewed their Willingness to Promote so good a Work and to be Concerned the several Sums by them Subscribed towards Raising such a Stock to carry on that Trade making it their request to those persons who had engaged themselves therein to pursue their endeavours to procure such an Establishment as appears by a Writing Signed to that effect Copy whereof follows WHereas the Trade to East-India is of very great importance to this Nation and yet through the many Abuses and Vnlawful Practises of the Managers of the present Joint Stock both at home and abroad is like to be utterly lost if some speedy Care be not taken by Application to Their Majesties and the Parliament to procure a regular and lawful Establishment of the same which cannot be compleated without a new and sufficient National Joint-Stock clear of all Incumbrances And Whereas divers Eminent Merchants and Traders in and about the City of London are accordingly endeavouring to procure such an Establishment for the Benefit and Advantage of all Persons who shall or will be concerned in the said Trade We the Subscribers being willing to promote so good a Work and desirous to preserve a Trade so highly beneficial to Their Majesties and this Kingdom in general do hereby severally Promise and Oblige our selves so soon as such Establishment shall be made to pay the several Summs of Money by us Subscribed towards raising the said Stock at such time and place as a Committee to be chosen by the major part of us the Subscribers shall direct and appoint And we do hereby make it our Request to those Persons who have engaged themselves by a certain Writing under their hands bearing date the 8 instant to endeavour the procuring such Establishment to pursue those their endeavours to perfect and compleat the same And we do hereby further promise to allow and pay them out of the said Joint Stock when the same shall be settled as aforesaid all such Sums of Money as shall be thought necessary by them to be laid out and disbursed in obtaining the said Establishment according to the true intent and meaning of this Preamble so as the account thereof be Allowed and Signed by the major part of those who have Subscribed the Writing above mentioned The Honourable House of Commons shewed a very great inclination and readiness to promote an undertaking so necessary and advantagious to this Kingdom and made a considerable Progress therein But finding themselves prevented in the Accomplishment of it as well by the pressing occasions of other Publick Affairs as by the great opposition of the then Company they presented to His Majesty the following Address Sabbati 6 die Februarii 1691. Resolved That An humble Address be made to His Majesty to Dissolve the present East-India Company according to his Power reserved in their Charter and to constitute another East India Company for the better preserving the East-India Trade to this Kingdom in such manner as His Majesty in His Royal Wisdom shall think fit Resolved That the said Address be Presented by the Whole House Jovis 11 die Februarii 1691. Mr. Speaker Reported to the House That he did yesterday Present to His Majesty their Humble Address touching the East-India Company and that His Majesty was pleased to express Himself to this effect That it was a matter of very great Importance to the Trade of this Kingdom and that it could not be expected He should give a present Answer to it but that He would take time to consider of it and in a short time give them His positive Answer Whereupon His Majesty during the recess of the Parliament referred the Consideration of the Settlement of that Trade to a Committee of the Lords of His Most Honourable Privy Council who were likewise prevented therein by the then Company as may appear by the Regulations which their Lordships proposed to them and their Answer together with His Majesties Message sent to the House of Commons the last Sessions complaining of their Carriage upon that occasion all which being lately Printed it will be needless to repeat them The Merchants who were entrusted in endeavouring to obtain the Establishment of a New East-India Company by Act of Parliament delivered another Petition to the Honourable House of Commons in the next Sessions as follows viz. To the Honourable the Knights Citizens and Burgesses in Parliament Assembled The Humble Petition of several Merchants and Traders in and about London and other Their Majesties Subjects Sheweth THat the Petitioners with many others did in the last Session of Parliament make their humble Application to this Honourable House for the Erecting a New East-India Company to preserve that Trade which for want of Settlement is in great measure lost to this Kingdom will wholly fall into the hands of our Neighbours unless timely prevented The Petitioners therefore humbly pray this Honourable House to take into Consideration the Erecting of a New East-India Company for the Retrieving and Securing that Trade to this
Nation in such manner as to the Great Wisdom of this House shall seem most Expedient And Your Petitioners shall ever Pray c. This Petition was delivered the 14th of Novemb. 1692. being the same day the aforesaid Message from His Majesty was sent them Wherein He acquainted the House That the Settlement of that Trade could not be perfected but by Parliament and Recommended it to them to prepare a Bill in Parliament for that purpose Accordingly they prepared a Bill for the Erecting of a New East-India Company but the perfecting of the same being again prevented by the Late Company that Honourable House made a second Address to His Majesty only to Dissolve the said Company which together with His Majesties Aswer was as follows Sabbati 25 die Februarii 1692. Resolved That an Humble Address be Presented to His Majesty That he will Dissolve the East-India Company upon Three Years warning to the said Company according to the Power reserved in their Charter Resolved That the said Address be presented by the whole House Veneris 30 Die Martis 1692. Mr. Speaker reported to the House That he did yesterday present to His Majesty their Address touching the East-India Company and that His Majesty was pleased to express himself to this Effect Viz. Gentlemen I will always do all the Good in my Power for this Kingdom and I will consider your Address Soon after the Rising of the Parliament it was generally reported Regulations were agreed on to establish the Late Company adding 756000 l. to their Stock by new Subscriptions without any Security which Summ with their supposed 744000 l. should make a Stock of 1500000 l. being what the House of Commons had Voted a Fund necessary to carry on that Trade The Members of the Company having given assurance that the 756000 l. would be readily Subscribed amongst themselves on those terms if others should decline it A New Charter was thereupon ordered to be prepared and it was given out That all Persons were satisfied with and agreed to these Regulations and particularly that they were approved of by all or the most of those who had been entrusted to procure the Settlement of this Trade in a New Company establisht by Act of Parliament But they being far from approving any such Proceedings thought themselves concerned to Vindicate their own Reputation lest they should be censured as consenting thereunto and so to have betrayed that Trust which was reposed in them viz. To endeavour the obtaining the Establishment of a New Company for that Trade by Act of Parliament with a New and Sufficient Joint-Stock free of all Incumbrances Therefore they resolved to Petition His Majesty in which all those who first engaged in the prosecution of that Business concurred excepting one who desired to be excused and another who had already changed his mind acting in behalf of the Late Company in opposition to what he had at first undertaken The Petition was delivered the 23d of March as followeth viz. To the King 's Most Excellent Majesty The Humble Petition of divers Merchants and others of the City of London Sheweth THat the Petitioners with many others after their humble Application first made to Your Majesty did prefer their Petitions to the Commons of England in Parliament assembled the two last Sessions for the Establishing a New East-India Company and preserving that Trade to the Nation whereupon two Addresses to Your Majesty ensued from the said House Now in as much as the Petitioners do most humbly conceive That such an Establishment by a New Free and National Subscription for the Raising a sufficient and real Fund to carry on that Trade would be of great Advantage to this Kingdom and most acceptable to Your Majesties Subjects in general And that the Adding New Subscriptions to the Imaginary Stock of the present Company would expose such of Your Majesties Subjects as should Joyn with them to a certain great Loss and Damage and their New Money become liable to Pay the Debts and Demands due from the present Company whereby all the Stock raised by such New Subscriptions may be swallowed up and consequently the entire Loss of that Trade endangered The Petitioners therefore most humbly Pray That Your Majesty out of Your Princely Care for the Good of Your People would be graciously pleased to take the same into Consideration so that the aforesaid Mischiefs may be prevented and all Your Majesties Subjects made Partakers of the Benefit of that Trade upon Equal Terms And Your Petitioners as in Duty bound shall ever Pray c. The Parliament having Taxed several Joint-Stocks the last Sessions and among others the Joint-Stock of the East-India Company and Rated it at 744000 l. and the Members of the East-India Company who were of that Honourable House pleading to excuse that Tax That their Stock would be worth little or nothing if they Payd their Debts it was thereupon Enacted as follows And in case the Governours and Treasurers of the said respective Companies shall make Default in Payment of the said several Sums or any of them respectively Charged on the Stocks of the said Companies at the Days and Times aforesaid according to the true Intent of this Act the Charter of such Company respectively shall be and is hereby Adjudged to be Uoid The Company nevertheless made Default in Paying the first quarterly Payment of the said Tax on the 25 of March being the day limited in that Act whereby their Charters became absolutely Void which put a stop to the further proceeding of their intended New Charter Hereupon it was generally concluded This Accident would have given a favourable Opportunity for the speedy Settlement of that Trade on such a Foundation as the House of Commons had desired and the Nation expected which had before been so long Obstructed by the Late Company seeing they were now Dissolved by their own Act and thereby the difficulty of the Three Years Warning was wholly removed But those Hopes were soon dissipated Orders being given for the drawing a New Charter to Restore to the Late Company not only their former Grants but to establish new Regulations appointing 756000 l. to be added by new Subscriptions to their supposed 744000 l. without any Security to be given to make their Stock worth it in like manner as it was resolved to have been done if their Charters had not been Forfeited Upon which those who had been entrusted to obtain the Establishment of a New East-India Company by Act of Parliament entred Caveats at all the Offices against the Passing any Grant to the said Company that so nothing might be wanting on their parts to Oppose it But the Difficulties were so great in Modelling such a Charter as was proposed that after some time spent at last it was judged most practicable and expeditious first to Grant a Charter of Incorporation and Restoration and afterwards to add to it the other intended Regulations Notice was sent to those who were concerned in the Caveats that they
the Owners of the Ships which went to the East-Indies last Year praying that the Illegal Powers which were in their former Charters might be particularly excepted that so the Lives of their Fellow-Subjects might not be exposed to their unjust Oppression To the Queens Most Excellent Majesty The Humble Petition of several Owners and Freighters of the Ships Edward and Henry on behalf of themselves and the rest of the Owners of the said Ships Sheweth THAT whereas the Petitioners did in May last send out the said Ships to the East-Indies with a considerable Car go of Goods of the Growth Product and Manufacture of this Realm And there being a Charter now depending before Your Majesty for the restoring to the late East India Company their former Powers without any particular distinction of the illegal from the legal the said Company and their Agents will naturally be induced to conclude all those Powers to be Legal and to execute them as they have formerly done to the Ruin and Oppression of Your Majesties Subjects That unless the Illegal Powers in their former Grants be particularly Distinguisht and Excepted out of the Desired Charter of Restoration the Estates of the Petitioners and the Lives Liberties and Estates of their Factors Servants and Marriners and other Your Majesties Subjects in those parts will be in danger of being invaded which possibly may put some of them upon the using force in their lawful defence and may tend not only to the breach of the Peace but the hazard of the Lives of Your Majesties Subjects And forasmuch as Seizing the Ships and Goods of the Subjects of England for Trading into the East-Indies hath been already adjudged Illegal by several solemn Judgments in Westminster-Hall since Your Majesties happy accession to the Crown And for that in Places so remote the Petitioners can neither be able to defend themselves against the Injuries before they are committed nor to right themselves by Law after they are acted the wrong-doers being out of the reach of the ordinary Justice of the Kingdom whereby the Petitioners will be left without remedy The Petitioners therefore humbly Pray Your Majestie in consideration of the premisses would be graciously pleased to Order That all the Illegal Powers in their former Charters may be distinguish'd from those which are Legal by such Methods as Your Majesty in Your great Wisdom shall think meet to the end that all the Illegal Powers may be excepted out of the desired Charter of Restoration so that the Lives Liberties and Estates of Your Majesties Subjects in those Parts may be secured from their Vnujust Violence and Oppression And the Petitioners as in Duty bound shall ever Pray c. The Merchants having no Answer to the several Petitions delivered to Her Majesty for Protection for Four Hundred Seamen they presented another Petition with several Reasons annext to enforce it which Petition and Reasons follow To the Queens Most Excellent Majesty The Humble Petition of several Merchants and others on behalf of themselves and other Your Majesties Subjects Sheweth THat by reason of the present War the Petitioners did by two Petitions Humbly Beseech Your Majesty in Council for Protection for 400 English Seamen to Man Five Ships to the East-Indies this approaching Season and in humble Confidence of Your Majesties Granting the same have made great Preparations for the said Voiages That on the Two Ships which were sent out to the East-Indies last year for Private Accounts there was more Cloth and other Goods of the Growth Product and Manufacture of England Exported than what the Company have Exported thither in Four Years of their Trade Although the interested in those Ships were under no Obligation to Export any That the Petitioners will Export much greater quantities of Cloth and other Goods of the growth product and manufacture of this Kingdom in this One Year than what the Late Company have Exported in Five whole Years of their Trade although in that time they have sent out above Ten Thousand Tunn of Shipping That at the Return of the said Five Ships the Petitioners will supply Your Majesty with Five Hundred Tunn of Salt-Peter at 3 l. per Hundred-weight though that Commodity for want of the Companies Importing it is now Sold for 8 l. per Hundred-weight Whereby there will be saved to Your Majesty 50000 l. at the present Price That the Custom payable to Your Majesty at the Return of the said Ships will amount to about Sixty Thousand Pounds which is Three times as much as the Late Company have Paid to the Crown for all their Own Aliens and Other mens Goods Imported on their Ships the last Three Years So that the very Customs payable to Your Majesty at the Return of the said Ships will amount to One Hundred and Fifty Pounds Sterling for every one of the said 400 Seamen which the said Petitioners desire besides the other Advantages which will accrue to the Publick by Exporting large quantities of Cloth and other Goods of the Growth Product and Manufacture of England supplying Your Majesty with Salt-peter and the Nation with other East-India Goods much Cheaper than either it now is or possibly can be if they are all Engrossed into one hand That the Late Company for several Years past have not had a Stock sufficient to carry on so Vast a Trade and are at present reduced to so mean a Condition * * Which is sufâ—â—â—â—ently proved 〈◊〉 appointing 4000 l. to be â—â—â—â—ed to their â—â—â—â—ck and paid 〈◊〉 by the tenth January â—â—â—â—t and their â—â—â—â—s and practiâ—â—â— to obtain it 〈◊〉 â—â—ch time is 〈◊〉 â—â—ticularly â—â—â—â—â—ulated to â—â—â—â—ble them to â—â—â—d out their â—â—â—ps that they have neither a sufficient Estate of their own in England to Lade the Ships they Petition for nor in India to Lade them Home again and that the said Trade is in danger to fall into the hands of some other Nation unless timely prevented As may appear by the annexed Reasons Humbly Offered to Your Majesties Consideration And for as much as the Petitioners by reason of the present War and the great and heavy Losses which they have sustained thereby as well as the many Obstructions and Hazards in most other Trades are much disheartned in prosecuting the same to the great Damage of the Petitioners and the depriving them in effect of the means of their Livelihood as well as the discouragement of the Woollen-Manufacturers and other Artisicers subsisting by Foreign Trade wherein many thousands of the Poor of this Kingdom are emploied The Petitioners therefore most Humbly Pray Your Majesty would be graciously pleased to grant them Protections for the said Number of Seamen to go to the East Indies this year that being the most profitable and least hazardous of any Foreign Trade whereby the Petitioners may be enabled in some measure to Repair the Great Losses which by reason of the War they have sustained And Your Petitioners shall ever Pray c. REASONS Humbly Offered to Your
Oppress'd Your Majesties Subjects and that the Restoring them the said Charters containing Powers which are in themselves unlawful notwithstanding the seeming Qualification mentioned in the said Grant as far as they may be lawfully used will induce those who are to have the Execution of them to think all such Powers to be Lawful they having already Executed them as such Whereby Your Majesties Subjects will be exposed to great and vexatious Oppressions And in as much as we humbly conceive That the Right and Property of all the Subjects of England is concerned in this Grant which seems to be a Sentence against their Right to the Freedom of that Trade of which they are now in actual Possession by several Acts of Parliament and to subject their Persons and Estates to the Fines Forfeitures and Punishments in the Charters intended to be restored or to vexatious and ruinous Suits at Law to defend themselves against a Corporation which was more fully and largely Represented to Your Majesty by the Petitioners Councel The Petitioners therefore Humbly Pray Your Majesty would be graciously pleased in consideration of the Premisses to suspend the Passing the said Charter until the Petitioners Right to this Trade be determined by a due Course of Law in which the Petitioners for their Parts are willing to Join Issue in Order to bring it to a Trial this next Term. And Your Petitioners as in Duty bound shall ever Pray c. To the Queens Most Excellent Majesty The Humble Petition of several Linnen-Drapers and others of London Trading in East-India Goods Sheweth THat whereas the Trade to the East-Indies through the ill Conduct and Management of the late East-India Company is very much impaired and in danger to be utterly lost in this Kingdom and that by reason of the great scarcity and dearness of Callicoes and other East-India Goods for want of the said Companies Importing them from the East-Indies this Nation hath been of late supply'd therewith by Stealth from Holland at excessive dear Rates to the great damage of the Petitioners Trade and Diminution of Your Majesties Revenue And whereas Your Petitioners are inform'd That a New Charter is now under Your Majesties Consideration whereby this great Trade is intended to be granted to the Late Company Exclusive to all the rest of Your Majesties Subjects and to be Monopolized into a few hands of those very Persons who have already so much abused and impaired it Now in as much as Your Petitioners do humbly conceive and are advised That all Your Majesties Subjects have an equal Right to that Trade by Law The Petitioners therefore Humbly Pray Your Majesty That You would be graciously pleased to Order That the said Charter may not be Pass'd but that the Petitioners and others Your Majesties Subjects may equally enjoy the Freedom and Liberty of that Trade that so it may be Preserv'd from being Lost and this Kingdom suppli'd directly from the East-Indies upon more moderate Terms than now it is from Holland To the Support of the Petitioners in their Trade and the great Increase of Your Majesties Customs And Your Petitioners shall ever Pray c. To the Queens Most Excellent Majesty The Humble Petition of the Clothiers and other Woollen Manufacturers in the County of Gloucester Sheweth THat Your Petitioners sinding the Trade for Turkey and the Streights in a manner wholly Obstructed by reason of which little or no Cloth Sells and for that the Petitioners have great Quantities of Goods upon their hands Vnsold and have not Stock enough besides to Imploy the poor Spinners Weavers and other Workmen and daily Cry at their Doors for Work Therefore we do Humbly Beseech Your Majesty That a General Liberty may be Granted at this time to Export freely the Woollen Manufactures for the East-Indies which Trade will take off Yearly Ten times the Quantity of Cloth which hath been Transported for those Parts for several Years last past And your Petitioners shall ever Pray c. Whereupon Her Majesty was pleased to Order That Copies of the several Petitions should be given to the Late Company to which they should make Answer in Writing which Order follows At the COURT at White-Hall The 31 of August 1693. Present The QVEENS Most Excellent Majesty in COUNCIL UPon Reading this day at the Board the Petition of the Clothiers and Woollen Manufacturers in the County of Cloucester two Petitions of several Merchants in behalf of themselves and others and the Petition of several Linen-Drapers and others of London Trading in East-India Goods Her Majesty in Conncil is pleased to Order That the East-India Company have Copies of the said Petition and return their Answers in Writing to the same to this Board William Bridgman In pursuance whereof the next Council-day being the 7 of September the Company gave in their Answer To the QUEENS Most Excellent Majesty The Humble Answer of the Governour and Company of Merchants of London Trading into the East-Indies To the several Petitions delivered unto Your Majesty in Council the 17th and 31th of August last THE Scope of the said Petitions seems to be That the Charter for Confirmation of the Company lying before Your Majesty should not Pass the Seals because the Petitioners pretend that all Your Majesties Subjects have a right Indifferently to Trade to the East-Indies by the Laws of this Realm and some of them desire Leave and Protection to send out Five Ships and Four Hundred Men to India Whereunto the Company crave leave to Answer in General That they Humbly Conceive the Question now is Whether the Petitioners shall have liberty to Trade in a Joint-Stock or licentiously and disorderly contrary to the Antient Wisdom of this Nation and all other Nations in Europe even of Commonwealths as well Monarchies and contrary to the Votes of the Honourable House of Commons Such Licentious Trading at last ending in the publick damage dishonour and loss of the Trade it self to this Kingdom because that particular Traders without any regard to the publick Advantage do drive only a private Interest to Enrich themselves in a Voiage or two to the great Loss and Prejudice of the Company who have at vast Charge and Hazard maintained and enlarged this Trade to the Honour of this Nation And the Company humbly conceive the sad Consequences of such Practices in the late Vsurper's time are pregnant Instances of what Damage to the Trade in General such loose and free Trading is like to prove But that they may not Omit giving Answer to whatsoever they conceive Material in the said Petitions besides what hath been already offered They Humbly Crave Leave to Reply as follows viz. To the Petition of several Merchants in behalf of themselves and others Relating to the Charter now lying before Your Majesty The Company Humbly Say That the said Petition is to Suspend the Passing of the said Charter prepared for Restoring and Confirming to the Company the Lawful Liberties and Priviledges formerly Granted to them by Your
supply so large a Trade Which is an Argument to enforce the Petitioners Prayer That all Your Majesties Subjects may have the Liberty freely to Export Cloth thither And the rather for that the Petitioners find there was 953 Cloths Exported in the two Ships which went to the East-Indies last year for Private Accounts which was near three times as much Cloth as the Company had Exported for Three Years Trade Viz. in 1688 89 and 1689 90 and 1690 91 and was so much more than would have been Exported if those Ships had not gone thither And as to the Pretence of their Exporting this Year the Value of 100000 l. in Cloth and other Goods of the Product of England if they may obtain a Sufficient Number of Shipping It will appear to be of very little weight when it 's considered how little Cloth they have Exported thither in their Four last Years Trade of which the whole Value doth not amount to above One Fifth Part of the Sum which they pretend they will Export this Year although they had a Sufficient Number of Shipping in those Years And the Petitioners have great Reason to Believe and are ready to Prove That all the other Merchandizes of the Growth and Manufacture of England which they Exported in those years did not amount to more than the Cloth And the Petitioners being certain they could now Sell great quantities of Cloth to other Merchants for the East-Indies if a Liberty were allowed to all Your Majesties Subjects freely to Export it thither Do therefore Humbly Pray Your Majesty That a Free Exportation of Cloth for the East-Indies may be Allowed to All Your Majesties Subjects at this time for that the Exportation of the said Manufacture is in a manner wholly Interrupted by reason of the present Obstruction of Trade for Turkey and the Streights And Your Petitioners shall ever Pray c. But the Clothiers Reply not being Delivered the Merchants gave in to Her Majesty in Council the following Paper being an Account of the Cloth which the late East-India Company had Exported in Five Years Trade which Account was taken from the Custom-House Books CLOTH Exported by the East-India Company in the Years 1688 89 1689 90 1690 91 1691 92 1692 93. 1688 89. On the Chaundois .... 54 Cloths 343½ Cloths 1688 89. On the Benjamin ... 178½ Cloths 343½ Cloths 1688 89. On the Herbert .... 111 Cloths 343½ Cloths In 1689 90 and 1690 91 None at all  1691 92. On the Modena .... 900 Cloths 918 Cloths 1691 92. On the Charles the 2d .. 18 Cloths 918 Cloths 1692 93. On the Princess Ann 421¼ Cloths 565½ Cloths 1692 93. On the Defence .... 144¼ Cloths 565½ Cloths  1827 Cloths The same day Counsel was heard again on behalf of those who entred the Caveats to whom Their Majesties Council and the late Company Reply'd A Petition was likewise delivered by the Inhabitants of Cornwal which took up some debate which Petition follows To the Queens Most Excellent Majesty The Humble Petition of several Inhabitants of the County of Cornwal in behalf of themselves and other the Inhabitants of the said County Sheweth THAT His Late Majesty King Charles the First of Blessed Memory did by his Letters Patents under the Great Seal of England bearing date the 26th of January in the Nineteenth Year of his Reign for the Considerations therein Expressed Grant unto all and every the Men and Inhabitants of the County of Cornwal then being or that hereafter should be that they and every of them by themselves and their Factors should from thenceforth and forever have a Free Trade and Commerce unto and from all Ports and Places whatsoever in Amity with the Crown of this Realm By vertue of which Grant the Petitioners humbly conceive they have a Right to Trade to the East-Indies as well as elsewhere And whereas the Petitioners are informed that a Charter is now under Your Majesties Consideration for Granting the Sole Trade to the East-Indies to Sir Thomas Cook and others Exclusive to all the rest of Your Majesties Subjects The Petitioners therefore Humbly Pray Your Majesty That the Rights and Priviledges Granted by the said Letters Patents to the Inhabitants of the said County of Cornwal may be preserved to them in the said intended Charter or that the Petitioners may be heard thereupon before Your Majesty in Council And Your Petitioners shall ever Pray c. Whereupon the following Order to Refer it to Mr. Attorney General was made Viz. At the COURT at White-Hall The 21th of September 1693. Present The QVEENS Most Excellent Majesty in COUNCIL UPON Reading the Annexed Petition of several Inhabitants of the County of Cornwal in behalf of themselves and other the Inhabitants of the said County Humbly Praying that the Rights and Priviledges Granted by Letters Patents of King Charles the First to the said Inhabitants to have a Free Trade and Commerce unto and from all Ports and Places whatsoever in Amity with the Crown of this Realm may be preserved to them in the intended Charter Granting the Sole Trade to the East-Indies to Sir Thomas Cook and others It is this day Ordered by Her Majesty in Council That it be and it is hereby Referred to Mr. Attorney General to examine the Petitioners Allegations And to Report to Her Majesty in Council how he finds the matter of Fact together with His Opinion thereupon Richard Colinge Next Council day Mr. Attorny General gave the following Report on the Reference made to him on the Cornish Petition viz. To the Queens Most Excellent Majesty May it please Your Majesty IN Humble Obedience to Your Majesties Order in Council upon the Petition of several Inhabitants of the County of Cornwal in behalf of themselves and other Inhabitants of the said County hereunto annexed I have in the presence of some of the Petitioners and their Counsel and some of the East India Company and their Counsel Examined the Petitioners Allegations and do find That His late Majesty King Charles the First by His Letters Patents under the Great Seal of England bearing date at Oxford the 26th day of January in the Nineteenth year of His Reign out of His Princely Contemplation of the many and extraordinary faithful Services to His said Majesty then of late performed by His County of Cornwal and for their better Encouragement to proceed in their Duty and Allegiance to His Person and Crown and for other Considerations Did for Himself His Heirs and Successours Give and Grant unto all and every the Men and Inhabitants Liege Subjects of the Kingdom of England within the said County of Cornwal then being and then after to be That they and every of them by themselves or any of them their or any of their Factors Agents or Servants Liberty and Freedom from time to time and at all times for ever afterwards to Trade Traffick and Commerce with their Ships and Vessels Goods and Merchandizes unto and from the Hanse-Towns and all
Majesties Consideration whereby it may appear That the late East-India Company have neither Stock at Home or Abroad to carry on that Trade and that it is in danger to be Lost to this Kingdom and to fall into the hands of some other Nation The Late Companyes want of Stock at Home is Visible I. BY their having sent out to the East-Indies in three whole Years time of their Tade Viz. in 1689 1690 and 1691 in 7 Ships containing about 3000 Tuns but the value of 26000 l. as may appear by their Accounts laid before the House of Commons in 1689 and 1691 of which most part was Ammunitions and Stores for their War II. By their having in England but 38901 l. 8 s. 8 d. according to their own Accounts given in to Parliament in 1691 including 9920 l. for their Buildings though they had sent out so little in the preceding Three Years and had had above 10000 Tuns of their Shipping arrived in that time whereas in Truth three times that Summ would not have paid the Debts which they then Owed and made good the other mistakes omitted to be inserted in that Account III. By their Farming out their Trade to and from the East-Indies to be carried on by Foreigners and others on Permission on their Ships and not Trading themselves when English Goods were so much wanted there and East-India Goods so excessive scarce and dear here which it can never be supposed they would have done if they had had effects either at home or abroad to carry on the Trade themselves IV. By their calling in 50 per cent of their Stock before they could send out the last Years Ships which was a Publick Confession of their own that they had not Stock sufficient to carry on their Trade without it V. By their having no Money in England to carry on their Trade notwithstanding the said 50 l. per Cent. called in that not being sufficient to PAY what they Owed before it was called in VI. By their Shipping out in Five Years of that Trade so little Cloth as has in all that Time amounted to but about 20000 l. and not near so much in all other Goods of the Growth Product or Manufacture of England which shews either that they wanted Money to Pay for them or That they had little regard to the Publick Good of the Nation in the prosecution of their Trade VII By the Engrossing the Goods which have come home by the Ruling Members who Sold them to themselves knowing the Company had not a Stock to supply the Nation with those Commodities thereby inhansing the Prizes to such extravagant Rates VIII By their not supplying the Nation with Salt-Peter although the safety of the Kingdom so much depends thereon that Commodity by reason of its scarceness for want of their Importing it being now sold at near Four times the usual Price Their Want of Stock abroad is also Visible I. By their Factors having sent home in a few years about 2000 Tuns of their Shipping empty II. By their having kept their Ships so long in India when East-India Goods were so much wanted at home One of these Ships now lately arrived having been Five Years Out And Three of those sent out in 1689 and 1690 not being yet returned besides above 1200 Tuns of other Shipping which they had formerly sent out and which they would as they might have laded home if they had not wanted Money there more than Ships III. By their being so vastly indebted at Suratt their chiefest Residence that their General or President and Council there are consined to the Town and not permitted to stir out of it unless with a Guard to Watch them for fear they should run away without paying what they Owe and making restitution to the Natives for the damages done them in the War And although by their Account given in Parliament in 1691 they pretended to have there about 200000 l. after all Debts paid yet they are so far from having any Stock at all there That they are forced to Borrow Money to pay for the necessary Charges of their Factory as the Petitioners can prove by persons of undoubted Credit lately come from thence who arrived here but in August last IV. By their Starving the Trade having had home in Two Years but Three Ships containing not above One Thousand Tuns though they have so many Ships abroad and that East-India Goods are so much wanted at home and even these Three Ships a great part Laden by Armenians and others on Permission for private Accounts whereas in that time the Dutch East-India Company have had home about * * About 15000 Tunn Ten Thousand Tuns of Shipping By all which it may plainly appear to Your Majesty That the late Company have neither Stock at home nor abroad to carry on that Trade but on the contrary are vastly Indebted there as has been already Observed to Your Majesty Notwithstanding that by their Accounts given in Parliament in 1691 they pretended that they had 828860 l. in quick-stock in the East-Indies after all Debts and Demands were paid and satisfied and that they have not had home from thence near the value of 100000 l. since that time and for want of their Stock to manage this Trade Your Majesty has suffered in a very few years last past at least 300000 l. in Your Customs and that Trade is in a manner quite lost to this Kingdom and given away to the Dutch who do not only supply themselves directly from the East-Indies with those Goods which they formerly had from England but do furnish other Countries which we were used to supply and even the Consumption of this Kingdom it self is now chiefly supplied with East-India Commodities by stealth from Holland And besides the Considerations above-mentioned several other Princes and Potentates viz. the Danes Portuguezes and Genoueses are encouraging and inviting not only their own but likewise the Subjects of other Princes and especially Your Majesties to prosecute this Trade to and from their Dominions in Shipping of those Countries which may prove of dangerous consequence to this Kingdom unless prevented by permitting the rest of Your Majesties Subjects to partake of this Trade from hence upon equal terms for that it will be more advantageous either to embrace the aforesaid Encouragement or to come into that Trade by being concerned in the Dutch East-India Stock rather than by Building on the rotten Foundation of the late Company who it 's visible have not a Stock to carry on that Trade But the Ill Intentions of the late Company are the more apparent for that though they themselves have been able to drive so little Trade to the East-Indies for several years last past yet they would obstruct others Your Majesties Subjects from Trading thither thereby endeavouring to lessen Your Majesties Customs and to give away this Trade from our own to some other Nation All which the Petittoners Humbly Submit to Your Majesties great Wisdom and