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A58251 Reasons humbly offered against grafting or splicing and for dissolving this present East-India Company, or joint-stock, and erecting and establishing a new national joint-stock or company, more extensive and universal, on a better constitution and terms of settlement. 1690 (1690) Wing R522A; ESTC R36699 7,645 8

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of them have declared themselves upon all Accounts Friends to Arbitrary Power and Tyranny and have been paltry Tools of State in the late Reigns To whom do we owe the grand Invasion of our Liberties and Properties the fatal Violation of the Privileges and Rights of this great City and all the direful unbless'd Consequences that succeeded but to some of the prime Adventurers and Managers amongst them who have signalized their Zeal to a Government in Church and State neither agreeable to the Laws of our Land Good and Liberty of the Subject or to the pure undefiled Protestant Religion And will the Wisdom of the Nation think fit to put so great a Power and Interest into the Hands of the late King's Tools How great mischiefs might thence arise to the Nation on sundry Accounts is better to be imagined and provided against than tryed and felt therefore may there be no Grafting but a Dissolution which infallibly secures us in that respect Seventhly This present Company or Joint-Stock grafted upon will no ways answer the End designed of making the Trade or Management thereof more Diffusive and National according to the Constitution of this Kingdom and Native Right and Liberty of the People but will still be a sore Monopoly to the great Grievance of the Subject The Proposal of Enlargement being only to one Million and the old Stock being calculated tho not really worth one Groat to amount to three parts of four of it the new to be joined thereto it follows must amount to no more than a fourth part of the whole or a third part of the present Nominal Stock so that the old Adventures will be three to one before any new Subscriptions and most probably four or five to one after Subscriptions for their own engrossing policy will oblige them to subscribe largely to keep it in their own Hands and then what sort of Enlargement or Grafting will this be What considerable part of the Nation will have room to come in And what kind of persons must those few be seeing it will not be the Interest of either wise politick men nor of honest good men to engage so that it will necessarily remain in the hands of the same arbitrary persons it 's now already in and this Grafting or Splicing will make no Alteration in the Management neither for as they have projected the Business by the ten Votes which is the same in this respect as two hundred tho they should be all new Men chat come in and graft yet they can make no Balance with the old ones no not to make one Committee-Man therefore of course it must fall into the hands of the same numerical persons and having the same Managers there will be the same Fruits and so continue as hitherto it hath been an intolerable Burthen an unsupportable Yoke of Iron under which the whole Nation complains and groans and have their Eyes fixed upon the Parliament for redress before whom the Case is spread Eighthly The present Company or Joint-Stock have enjoyed this Trade of India solely to themselves exclusive to all others in a Monopoly upward of thirty years to their vast advantage and surely such have no reason to complain of Injustice or any hard usage if the Nation should after their so long an Enjoyment resume the Trade into its own Hands and dissolve their Society more especially seeing they may all come in and partake of the New Joint-Stock in a National Way by becoming Subscribers thereto Ninthly The dissolving this present Company or Joint-Stock and erecting a new one is the most likely probable ready way to retrieve our lost decayed Trade of India and procure and settle a firm lasting Peace on good Terms with the Indians What Peace will they grant or keep so long as those that have been the Causes and Executors of all the Mischiefs that have befallen be continued in power Or what assurance can they have of those that have broken all Faith and good Manners with them Tenthly The Dissolution of this present Company or Joint-Stock and Establishing a new National One will greatly enlighten the Nation and make no mean Discovery of hidden Works of Darkness useful to be known to the publick the grand Dispute of the Greatness of their Stock will then be at an end all will appear manifest and open If it prove as they say the Benefit will be their own but if otherwise the People will be undeceived and see what Imposals they have been under and what Dangers they are delivered from the whole Intrigue of the Management will be made apparent how they have complyed with and crouched to an inslaving Court to establish in themselves a Despotick Power only to satisfie their own corrupt inclinations help forward settle and bind on the Subject of England a Court designed Tyranny and many other Nests of Villany which then will not any longer be concealed Eleventhly The dissolving this present Company or Joint-Stock and establishing a new National One will much tend be a great help and go far towards a full entire Settlement of the Nation it being a Concern of such extent as an eighth or sixth part of the Foreign Trade of the Kingdom Twelfthly The dissolving this present Joint-Stock and establishing a new National One is that which agrees and falls in with the Genius of the most considerable part of the Nation at this Day and in publick Reformations it hath generally seemed expedient to the Wisdom of Parliaments to proceed in and take such Methods as are most agreeable to the Constitution of the Nation the Laws of the Land Right of the Subject and consonant to the Bent and Spirit of the best and most thinking part of the People which seems absolutely against confirming any illegal or grafting clouting patching splicing any weak doubted failing drooping Nominal Stock but wholly for a Bran-New One erected by new Subscriptions established and settled by Parliament upon such a Basis and Constitution as may make it most Nationally extensive according to the Birthright of the Subject and most suitable and advantageous for the said Commerce Much more might be added upon this Subject but what is already offered if well weighed is conceived will fully evince what was undertaken and therefore to sum up all seeing the present Company appears to have only an imaginary Stock for the carrying on the Trade and that its Constitution is illegal and pernicious founded on Arbitrary Power and accordingly have acted so as to bring themselves under dismal Obloquies by unlawful Dispossessions and girding themselves with the Blood of the Subject without any remorse ready to act the same over again tho under the Judgment of the Nation condemned by the House of Commons therefore never to be trusted more so that it will neither consist with the Justice Honor or Security of the Nation to have this Company continued nor the Wisdom Honesty Integrity Genius and Spirit of any true English Men to graft thereon seeing it can make no Alteration in its Constitution Management or Managers nor any ways wipe off that Obloquy it lies under in the sight of the Nation Therefore it●s necessary it be dissolved being its Dissolution is no injury to the concerned they having enjoyed the same to the Nations damage thirty years and upward and it being the most probable means of restoring the Trade and settling a firm lasting Peace with the Indians and is that which will bring to light many hidden Works of Darkness to the Satisfaction as well as Benefit of the Subject tend much to the settling the Nation is suitable to the Laws of the Land Liberty of the Subject and to the present Inclination of the sober considerable part of the People Surely none that have any love for their Country and can prefer a vast lasting National publick Utility and Advantage but must absolutely conclude against Graftings and entirely for dissolving this present Company and erecting and establishing a new National Joint-Stock more Extensive and Universal on a better Constitution and Terms of Settlement Which is the earnest Desire of all true hearted English Men and the sole Design of this Paper London January 3 1689 90. FINIS