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ID	Title	Author	Corrected Date of Publication (TCP Date of Publication)	STC	Words	Pages
A32839	A treatise wherein is demonstrated, I. That the East-India trade is the most national of all foreign trades, II. That the clamors, aspersions, and objections made against the present East-India company, are sinister, selfish, or groundless, III. That since the discovery of the East-Indies, the dominion of the sea depends much upon the wane or increase of that trade, and consequently the security of the liberty, property, and protestant religion of this kingdom, IV. That the trade of the East-Indies cannot be carried on to national advantage, in any other way than by a general joynt stock, V. That the East-India trade is more profitable and necessary to the kingdom of England, than to any other kingdom or nation in Europe by Philopatris.	Child, Josiah, Sir, 1630-1699.	1681 (1681)	Wing C3866; ESTC R19413	24,211	48

of Shipping choose their Embassador and two Consuls settle a Tax which they call Leviations upon the Trade And although I have a profound veneration for all things then settled in Church and State and for those wise and worthy Councellors that assisted Queen Elizabeth in those infant times of our Reformation and Trade and am apt to think when those Constitutions were made they were useful and proper to that time Yet I must acknowledge that in my opinion if all those Trades that are Regulated that is Confined to certain Persons only were free and open to all the King's Subjects as they are in Holland and all other places it would be infinitely more for the general good of the Kingdom Neither do I see any reason why the Trades of Turkey Hamburgh East-land Russia and Greenland which in England are Limited or Regulated as they call it should need such Limitation or Regulation more in England than they do in other parts of the World or more than other Trades to Italy France Spain or any other part of the World And if something might be alledged for a Regulation what can be said why it is not for the publick Utility that all the King's Subjects might Trade to any Countrey if they please whether they be Noblemen Gentlemen Men of the Gown Shop-keepers or whatever they be the more the better for the Common Good To enforce which much more might be said but that 's not my Business now A Company in Joynt-Stock are a Corporation by Charter and if it were by Act of Parliament it would be much better for the Kingdom in general as hath been said into which Stock all the King's Subjects of what condition soever have at the foundation of it liberty to Adventure what sum of Money they please The Stock and Trade is managed by a Select Council or Committee consisting of a Governor Deputy and 24 Committees chosen annually by the Generality in which every Adventurer doth not Vote a like but proportionably to his Stock viz. Every 250 l. Original Stock hath one Vote 500 l. paid in hath two Votes c. After the first Stock is settled no Man can come in but by Purchase which every Englishman hath an equal liberty to do and for which he pays nothing if he be a Freeman if unfree never above 5 l. In England the Company hath by reason of our late Civil Wars and Confusions been interrupted several times and there have been new Subscriptions But in Holland since the first settlement thereof in Anno 1602 there has been no interruption or breaking up of the Stock or new Subscription and such continuance is certainly best for the Publick Having described the nature of these two sorts of Companies of Merchants I shall now descend to the proof of the Proposition viz. That a United Stock is absolutely necessary to the carrying on the East-India Trade to National Advantage Arg. 1. My first Argument I shall draw from the Practice and Experience of all other Nations Certainly all the World are not weak in their Intellects whatever those Gentlemen think that complain of the East-India Company If any shall tell me this Argument will not hold universally for the Portugals have a Trade for East-India and yet have no Joynt-Stock I answer under those Gentlemens favour I know there is a Joynt-Stock for this Trade in Portugal or else there could have been no Trade worth speaking of But true it is that Joynt-Stock in Portugal is the King's Exchequer who reserves Pepper Diamonds Silk Callicoes and all other considerable India Commodities to himself and leaves only some few Toys and trivial Commodities to his Subjects and yet for want of a more perfect National Constitution we have seen how the Portugal Trade in India notwithstanding the great Roots it had drawn in a long uninterrupted course of time dwindled to nothing when it came to be confronted and out-done by the more National and better constituted Joynt Stocks of England and Holland The French Nation peradventure were never governed by wiser Counsels for their own good than under the present King They were some years past zealously set upon the East-India Trade and I am assured spared for neither pains nor cost to arrive at the best method but gave immense rewards to any that could give them any rational light or information to lay such a foundation of Trade as might be proper for those Eastern Countreys See what how and why they did resolve at last by the printed Translation of the French Treatise relating to that settlement which will save me the labour of inlarging upon this Argument Arg. 2. The English East-India Company have now as every body knows their money at 3 per Cent. interest Every English Man that trades in an open or regulated Trade must value his own money at 6 per Cent. at least or pay so much if he takes up money because he can gain so much by it sleeping or playing Those that work or run hazards hope to do better Now if the Company with their united Stock and Counsels and money at 3 per Cent have much a do to hold up against the subtil Dutch what shall poor private Merchants of divided various and contrary interests do with their little separate Stocks at 6 per Cent. per Anuum Arg. 3. Suppose the Trade of India might be carried on in an open or regulated way if other Nations did so which is never to be granted yet in regard that all other European Nations do at this time trade there in Joynt Stocks is it not as great madness to enter raw and private Persons against such compacted and united Constitutious of experienced Councellors as to fight a disordered undisciplined multitude against a well governed Veteran Army supported with an inexhaustible Treasure or as it is to imagine as some men fondly do that we can maintain and defend our Protestant Religion against the Church of Rome without a National Church in England Arg. 4. If the Company should be destroyed and the Trade left open the Companies Priviledges and Immunities in East-India would be lost which have cost this Company as well as their Predecessors vast sums of money to maintain and retrieve after they were almost ruined in the late three years open Trade If I am asked what those Priviledges and Immunities are They are so many and so great as is scarce credible to any not acquainted with the Trade of India For publick satisfaction I shall mention some few of them all would burden me to write as well as the Reader We have the liberty of Coining Money for our selves and all other Nations which passeth currant in all the King of Gulconda's Countreys We are Custom-free in almost all places and in some where the Dutch and all other Nations pay a constant Custom particularly in all places of the Bay of Bengall and up the great River of Ganges At Fort St. George and Bombay we have a right and do

the East-Land or the Russia or Greenland Trade till the Interest of our Money be as low as theirs 16. I always bear that deference to the consent of Nations and Numbers that when-ever I see wise and great Nations having different Interests and various Forms of Government yet conspire as it were in the same means to accomplish the same ends of Profit Power and Honour I conclude they are nearer the right way to those ends than the wisest and best private Men living that hold contrary Opinions swayed by personal Profit or Loss Pique or Prejudice 17. I am of Opinion with submission to better Judgments that there is just as much need of Companies of Merchants in England as in Holland and no more Where Companies are necessary the Dutch have them and in such manner as is most necessary to the Nature and Commerce of the Countreys for which they are incorporated And I never heard of any Companies of Merchants there but those of the East and West Indies and both in Joynt Stocks protected and defended by the Laws of the Provinces which are of the same force as Acts of Parliaments with us 18. That there is a necessity of a Joynt Stock in all Foreign Trade where the Trade must be maintained by Force and Forts on the Land and where his Majesty cannot conveniently maintain an Amity and Correspondence by Embassadors and not elsewhere I shall now return to what was proposed to be proved in the Title page viz. I. That the East-India Trade is the most National of all Foreign Trades Which I prove thus Viz. 1. WHat the Dutch French Danes Portugals and which not long since the Swedes and now the D. of Brandenburgh have with so great Charge and Expence attempted and hedged about with Laws and Encouragements must certainly be a Matter of the greatest National Consequence 2. This Trade employs more great Warlike English Ships that may carry from 50 to 70 Guns a-piece than all the Trades of the World from England besides 3. This Trade alone furnisheth us with Saltpetre a Commodity so necessary that in the late Kings time the Nation suffered greatly by the want of it as is too well known and remembred 4. Above four fifth parts of the Commodities Imported by this Trade are again Exported into Foreign parts by which the Navigation and Trade of this Kingdom is vastly encreased into Turkey Italy Spain France Holland and other parts of Christendom by the Returns of which more than treble the Bullion is Imported that was first Exported to India and the Wealth of this Kingdom is as greatly encreased as by the direct Trade to and from the East-Indies 5. Most of the East-India Commodities are of so small bulk that if the Trade of the East-Indies were not in English hands the Commodities notwithstanding any Laws to the contrary would come in from Holland as the French Silks now do with this difference only then we should pay as much for Pepper which we now sell for 8 d. the pound as we do for Nutmegs Cloves Mace Cinnamon which is from 6 s. to 15 s. per pound tho some of them are cheaper at the places of their Growth than Pepper is at Bantam but enhaunsed to that price by the Dutch having the sole Trade for them By which I conclude this saves the Kingdom in that respect only 500000 l. per Annum that otherwise they would be outwitted of 6. All Riches and Power in Nations as well as private Families consists in comparison A Gentleman in the Countrey may be accounted Rich if he be much richer than other Gentlemen his Neighbours tho but of moderate Estate So England may be said to be Rich or Strong as our Strength or Riches bears a proportion with our Neighbour Nations French Dutch c. and consequently whatever weakens or depopulates them enricheth and strengtheneth England And most certain it is That no Foreign Trade doth so work upon the Manufactures of our Neighbour Nations as this Trade of the East-Indies for the Staple Countreys for Silks and Fine Linnen are Italy France Holland Flanders c. insomuch as it is reasonably computed those Countreys by the Importation of East-India Silks and Callicoes not only into England but from England into their own Countreys are abated in those fine Manufactures above a Million of Pounds Sterling per Annum 7. And which is a consideration of great weight and may be of immense advantage to the strength populousness and riches of this Nation in a few years England hath already the principal Trade of Woollen Manufactures and now a quicker vent and export for them than ever it had in the memory of any man living But throughout Christendom I have ever been of Opinion that generally speaking there are more Men and Women imployed in Silk Manufactures than in Woollen of which likewise England hath obtained a considerable part considering the short time since our Silk Broad Weaving began which was but since Mr. Burlimach brought in Silk-Diers and Throwsters towards the end of the late King James or beginning of King Charles the First 's Regn. And I am credibly informed the number of Families already imployed therein in England doth amount to above 40000. Now what should hinder but that in a few years more this Nation may treble that number in such Manufactures since the East-India Company have of late years found out a way of bringing Raw Silk of all sorts into this Kingdom cheaper than it can be afforded in Turkey France Spair Italy or any other place where it is made Insomuch as with East-India Silks we serve Holland Flanders and some other Markets from England 8. This Trade pays his Majesty about 60000 l. per Annum Custom aad carries out of this Kingdom yearly about 60 or 70000 l. in Lead Tin Cloth Stuffs and other Commodities of the Production and Manufacture of England Which is not so considerable with respect to the quantity as in this That what we send to the East-Indies of our own Manufactures would not be sent at all if the English Nation were deprived of this Trade because neither Dutch nor French would enure the East-Indians to our English Manufactures Of which we have clear instance in the Dutch Trade to Japan where they industriously avoid introducing our English Cloth Which Countrey being exceeding large rich and populous and lying in such a Northern Latitude might vent as much of our English Manufactures as Spain and Portugal if we could gain a footing into that Trade in the endeavour whereof the Company have already lost above Fifty thousand pounds Sterling 9. Tho the Company have lost so much in the attempt of the Trade with Japan they have lately got an Entrance into the Trade of Couchin-China and China and have for a few years past settled Factories in three Ports thereof viz. Tywan Tonqueen and Amoy to their great Charge and Expence without reaping any Profit thereby to this time but a certain and constant

from and to any Port or Place within the Limits of their Charter except to and from Europe Whereas on the contrary the Dutch tho they are a People known to be as tenacious and as obstinate defenders of their Liberty as any People in Europe do restrain all those that serve them in India from all the most profitable trades from place to place within the limits of their Charter and indulge no kind of private or permissive trade whatsoever to or from Europe Now let any indifferent Man judge besides that whatever the Company doth in the case of stated Damages every private man may do that can Freight a whole Ship by himself and Partners whether it be not highly reasonable that seeing the Company are at above 100000 l. yearly charge in East-India and England that whoever participates of that Trade should proportionably contribute to the Expences that necessarily attend the preservation of it Object 5. They say besides Raw Silk the Company imports Wrought Silk to the prejudice of the Silk Manufacture in England Answ. 1. This Objection lies as much and more against all other Wrought Silks imported into England from Italy Holland or any other part of the World 2. The Silks which the Company commonly bring in are the main part of them Taffaties and other plain or striped Silks and Pelongs such as are not usually made in England but imported from France Italy and Holland where lately when Pelongs were scarce many were made and imitated at Harlem and from thence imported into England So this importation works upon our Neighbours preserves the ballance of our Trade and consequently encreaseth the Capital of our Nation 3. And which is beyond all contradiction as will appear by the Entries at the Custom-house a great part of the Wrought Silks imported by the East-India Company are again shipt out to France Holland and other foreign parts which is a great and growing advantage to the King and Kingdom in general to the King because for all Foreign Goods re-exported his Majesty hath in consequence the half Custom paid him by strangers without taking a penny out of his Subjects Purses and to the Kingdom by preserving and meliorating the ballance of our Trade as aforesaid Besides the gain of Freight Portage Wharfage Ware-house-room and all other petty Charges amongst which may be reckoned the advantage accrewing by the expence of such Foreigners while they stay here as the Companies Sales do necessarily draw over hither Object 6. Some Clothiers complain that the East-India Company hinders the vent of Cloth Answ. 1. This indeed is a fine practice and deserves a thorow inspection 1. Who they are that complained 2. When and how they began to complain 3. Why they complain 1. For the time when it was in the year 1674 or 1675 as I remember Then they had the confidence to tell the Parliament the Company would spoil the trade of Cloth and bring the price of Wooll to nothing But in fact the Company hath now stood Five or six years since that time and much augmented their trade for India but Wooll is advanced in price above 50 per Cent and such a trade there is and hath been for woollen Manufactures as England never see in any former Age. 2. Who they were that complained not the poor Kentish Clothiers that have lost their Trade nor the Suffolk men that have lost their Manufacture of Blew Cloth but the Worcestershire Glocestershire and Somersetshire men that do now make and vend above twenty times the quantity of Cloth which they did before this Company was erected 3. How they began to complain which as I have been informed was thus Their first Petition was drawn only against the Turkey Company for making but one Cloth Shipping in a year but entertaining a certain Council since famous for other matters he told them for some reasons best known to himself they should draw their Petition against the East-India Company likewise which accordingly they did but whether they were Dutch or English that paid the best Fees that I could never discover 4. Why they complained That I believe few of them understood It could not be because their Trade sunk for that was manifestly and wonderfully increased It could not be because the East-India Company as a Company sent out less Cloth than was sent for India in the open trade for the Entries at Custom-house will evidence that the Company since their last Incorporation have sent out in some one year above ten times as much Cloth as was ever sent out in the time of open trade But why then did they complain Really I cannot tell but peradventure their Council aforesaid or some Turkey Merchants their Customers might inform them that if the Trade of India were open there would be a new world for Cloth that would vent as much as the old World And if they had any Dutch or French Customers no question they would not be backward to encourage so good a work Object 7. They complain that the present Stock is ingrossed into a few hands some single Adventurers having 16 or 17000 l. principal Stock in their own names An. 1. If this be true the Complaint of it would sound better out of the mouth of an old Leveller than a Merchants living under a free and Royal Monarchy And yet to give the maddest of men their due neither the late English Levellers nor their Elder Brethren the Tribunes of the People of Rome nor yet the more Ancient Lacedemonians or other Greeks none of them had ever that Excess of Indiseretion as to pretend to Stint much less to Level Personal Estates Which if they could be made even at noon would be unequal before night 2. If there were any thing in this Objection certainly the Dutch being a Republick would have found a Remedy for it before this time Whereas on the contrary they think whoever adventures most in their Joynt Stocks doth most oblige the Common-wealth tho he be a stranger insomuch as one Swasso a Jew now or late living in Amsterdam I am Informed hath had at one time in their East-India Stock above the value of 300000 l. Sterling 3. The more any Adventurer hath in the Stock the more he is engaged to study and promote the good of it by all possible means within his power An Adventurer that hath the smallest interest may be as just and true to the Stock as he that hath the greatest but I can never believe that a small interest will awaken a man so often in the night nor keep him so long from sleeping in the meditation of any business as a very great and principal concern may do 4. Notwithstanding the largeness of any of the Adventurers Stocks there are yet Five hundred fifty six Adventurers which is a greater number than are to be found in any trade that hath not a Joynt Stock Object 8. There are many other Ports and Places within the limits of the Companies Charter where English