THE Present East-India Company are Intituled to the Trade to India, by several Charters Granted by the Kings, The East-India Compa­ny first Incorporated in the 43 Q. Eliz. and Queens, of this Realm. They were first Incorporated near One Hundred Years ago, viz. 43 Eliz. which Char­ter gave them Power to Trade to the East-Indies, Exclusive of all others, by a Joint Stock, for Fifteen Years: For 15 Years. And that Noble Princess gives, as a Reason, for Her Settling this Part of our Traffick under such an Establishment, That 'tis for the Honour of England, Her reason for so do­ing. for the Increase of Navigation, and the Advance of Trade. Which Words are repeated in all subsequent Charters.

In the next Reign, viz. 7 Jac. 1. there was a Charter Granted to them, reciting that of Queen Elizabeth, and setting forth the great Success of the Company, and the Honour and Profit, this Traffick brought to the Kingdom. This Charter confirms the former: And in the 7 Jac. 1 for­ever. But whereas before they were Incorporated only for Fifteen Years, King James the First, by this Patent, upon Experience of the Benefit this [Page] Trade produced in the Nation, Erects the Company into a perpetual Body Politick.

13 Car. 2 1661 their former priviledges con­firmed.Afterwards, viz. 13 Car. 2. 1661, there was a Charter Granted to them, with the like Recital, of the great Benefit accruing to Eng­land, by the Trade to those Parts; and which Confirms their former Priviledges, with these Clauses among others, That they from hence­forth forth for ever be, and shall be, one Body Corporate and Politick, in Deed and in Name, by the Name of the Governour and Company of Mer­chants of London, Trading into the East-Indies: And them by the Name of the Governour and Company of Merchants of London, Trading into the East-Indies, one Body Corporate and Politick, in Deed and in Name, really and fully, for ever, for Ʋs, Our Heirs and Suc­cessors, We do Make, Ordain, Constitute, Establish, Confirm and Declare, by these Presents: And We have Condescended and Granted, and by these Presents, for Ʋs, Our Heirs and Successors, We do Condescend and Grant unto the said Governour and Company of Merchants of Lon­don, Trading into the East-Indies, and their Successors, That We, Our Heirs and Successors, With a Clause that no others should have the Liberty of Trading to India besides the Com­pany. ( during all the Time that these Our Letters Patents shall be, and remain, in Force, as aforesaid) will not grant Liberty, Li­cense or Power, to any Person or Persons whatsoever, contrary to the Tenor of these Our Letters Patents, to Sail, Pass, Trade or Traffick, to the said East-Indies, or into, or from, any the Islands, Ports, Havens, Cities, Towns, or Places aforesaid, or any of them, contrary to the true Meaning of these Presents, without the Consent of the said Governour and Company of Merchants of London, Trading into the East-Indies, or the most part of them.

Subsequent to this, viz. 20 Car. 2. they had another Charter; whereby the Inheritance of the Island of Bombay, is Granted to the Company, The Company made Lords Proprietors of Bombay, 20 Car. 2. and they are thereby, for ever, Made and Constituted the true Lords and Proprietors of it. And this Grant has incouraged the Company to Expend, out of their Quick Stock, very great Sums of Money, Whereupon great Sums have been expended by them to strengthen it. from time to time, to Fortifie the said Island, which is one of the principal Securities of their Effects, and of the English Ships Trading thither.

St. Helena granted as their perpetual propri­ety 25 Car. 2.The Company have since had other Charters. That of 25 Car. 2. takes Notice, That Sancta Helena, which had been Granted to them, was Taken during the then War; which, by being Retaken by the King's Forces, became Vested in the Crown. This Charter therefore Regrants the perpetual Propriety of Sancta Helena to the Company: And in For­tifying this Island, for the future Benefit and Security of English Traders, they have likewise Expended considerable Sums.

All their former Privi­ledges confirmed by Charter 2 Jac. 2.They had another Charter, 2 Jac. 2. which Recites the other Charters, and the Benefits arising to the Nation, from the Trade; and Confirms to them their former Priviledges and Immunities.

The Grants here Recited, did induce the Adventurers to think, That they had a Right, in Law, to the Trade; at least, that they should have an Uncontroverted Title to the Land of Inheritance, the Towns, Forts and Castles, Rents and Dues, purchas'd in India with their own Money: Upon which Presumption, and Relying upon the Publick Faith, and Credit of the Great Seal of England, for the Pre­servation of their Property, The Company have ex­pended above a Million on the Credit of these Charters in Fortificati­ons &c. They have since the Year 1661, Ex­pended upwards of a Million, as they are ready to make appear, in Extending their Territory, and in Fortifying several Places, for the greater Ease and Safety of their Factors. All which they did, in or­der [Page] to preserve their Factors and Servants from the Insults of the Na­tives, and the Incroachments of European Traders, for the benefit of their Trade. and to render the Trade more Lasting to this Kingdom. And in Prospect of this Right, which they humbly hop'd would never have been Disturbed, They have acquired, at such their Expence, Revenues at Fort St. George, they have a Revenue of 44000 l. a Year. Bombay, and at Fort St. Davids, in Persia, and elsewhere, of above 44000 l. per Annum, which are Daily increasing, and a large Extent of Lands in the respective Places. Also several Forts, They have also Erected divers Forts and Settlements, and procur'd Territories in the Island of Su­matra, and in the Queen of Attinga's Country, and elsewhere, on the Coast of Malabar; without which, the Pepper Trade must have been intirely Lost to England. And they have Erected a strong For­tification in Bengale, with several Factories, some of them Fortify'd, and Settlements. and many Buildings and Settlements, in divers other Parts, within the Limits of their Traffick: And they have Purchas'd of the Indian Princes, and others, at a great Rate, And Priviledges in In­dia. many Priviledges and Immu­nities. All which they were Incourag'd to do, out of a firm Belief that their said Rights and Inheritances, upon all Occasions, would be Objects of the Publick Care.

Since His Majesty's happy Accession to the Throne, in several Com­mittes of the Honourable the House of Commons, appointed to consider of the East-India Trade; and in Committees of the whole House, and by the House, as also by your Lordships, it has been declar'd, Both Lords and Com­mons have Voted, the Trade to India, should be in a Joynt-Stock ex­clusive. That the East-India Trade should be carry'd on in a Joynt-Stock exclu­sive to all Others. During the Transaction of this Matter in Parlia­ment, His Majesty was pleased to signifie, in a Message to the House of Commons, of the 14th of November 1692, That upon Examination of the Charters, and consulting with His Judges, and Learned Council, His Majesties Message to the House of Commons, with the Judges Opini­on touching the Com­panies Charter. His Majesty found that He could not legally dissolve the Company, but upon Three Years Warning; and that during the Three Years, after warning, the Company must subsist, and might continue to Trade: And that though the King might constitute a new Company, yet he could not impower such new Company to Trade, till after Three Years: The Crown having expresly covenanted, not to Grant any such Liberty.

Hereupon His Majesty was very apprehensive of the ill Consequence of giving Warning to the Company, because they would then be less Soli­citous of promoting the true Interest, and Advantage, of a Trade, where­of they would not long reap the Fruits: And that no new Company could be immediately admitted to it. So that this very Beneficial Trade, which is already so much impair'd, might be in danger of being intirely lost to the Nation.

And in the Close of his Message, upon that occasion, His Majesty was graciously pleas'd, to recommend to the House of Commons, The Preparing such a Bill, in Order to pass into an Act of Parliament, as might establish this Trade, on such Foundations, as were most likely to preserve and advance it.

After this, the Interlopers started a Suggestion, That the Com­panies Charter was forfeited, The Company not pay­ing their Tax the 25th. March, 1693 their Char­ter was questioned. upon the Non-payment of the first Quarterly Assessment, of 5 per Cent. Charg'd upon their whole Stock, though the Companies Agent, upon the day limited by the Act, viz. the 25th of March 1693, went up to the Exchequer, in order to pay it in; but found the Exchequer not open, the same being an Holy­day, and the Printed Act not being publick till that Morning.

[Page] [...] Enemies of the Company, designing to take this Advantage over them, They did, with all Humility, apply themselves to the King; and His Majesty, weighing in his Princely Wisdom, That the Uncertainty of the Companies Affairs, might occasion the total Loss of this Rich Trade; Whereupon his Majesty the 12th of May, or­dered a new Charter to granted. and in his Goodness, Commiserating the Losses, about that time, sustain'd by them, he was graciously pleas'd to give them Assurance, on the 12th of May following, That no Ad­vantage should be taken of their Forfeiture, the Attorny General having then Orders, to draw up a new Charter.

And it appearing, that His Majesty was graciously dispos'd, to grant the Company a Charter, there were Petitions exhibited against it, Which the Interlopers opposing before the Queen and Council it was not Seald till the 7 th. of October, 1693. by the Interlopers; and the Matter was contested many days, before the Queen and Council, and every Article of the intended Re­gulations was weigh'd, and consider'd, with great Deliberation. This Business being in Debate, from March 1693, to the 7th of October following; at which time the Charter had the Seal, with a Proviso, That if the said Company did not submit, and conform, to such Alterations, Restrictions, and Qualifications, as the King should make, before the 29th of September following; It should be lawful for His Majesty, to Revoke the said Charter.

A Charter of Regulati­ons granted the 11 th. of November following.On the 7th of November, the Parliament met, and on the 11th following, the Company had a new Charter of Regulations; which in most material Points, was fram'd pursuant to the Regulations for­merly propos'd in Parliament.

And thereupon 744000 l Subscribed and paid in during the sitting of the Parliament.Upon the Security of this Charter, the Company consented to a new Subscription, and there was Subscrib'd a-new, into the said Stock, about 1200,000 l. and reduced accordingly to 744,000 l. which new Subscriptions were made, and the Mony thereupon brought in, Sitting the Parliament.

And, during that part of the Sessions, in which the 744,000 l. were subscrib'd, No Objections being a­gainst that Charter. and paid in, as an Addition to the former Joynt-Stock, for enlarging, and making the Trade more National; nothing was done, said, or offer'd, against the Charter of Regulations; on the Strength, and Credit of which, the new Subscriptions were made: So that upon the Publick Faith, 781 New Adventurers came in on the Credit thereof, many of them Widows and Orphans. (at least tacitly given) 781 new Adventurers, of which many are Widows, and Orphans, did subscribe a large part of their Substance, to support this Trade, during a hazardous War, for the Profit and Honour of England.

And it having been so frequently Resolv'd, That this Trade was Beneficial, That it was best to be carry'd on in a Joynt-Stock: And the principal Regulations having been pursu'd, which had been pro­pos'd in Parliament; the new Adventurers thought they might, without any Hazard, subscribe on the Security of a Charter, which was so plainly design'd by His Majesty, to preserve the East-India Traffick, In six Months time the Company sent out 11 rich Ships. then in danger of being lost. And in less than six Months, from the Date of the said Charter, the Company did set out eleven Ships, richly Frighted. And in Obedience to an Order of His Ma­jesty in Council, And 150000 l. worth Woollen Goods &c. did thereon lade above the Value of 150,000 l. in Woollen, and other Goods, of the Product, and Manufacture, of this Kingdom.

Another Charter of Re­gulations granted the 28 th. of September 1694During the then Prorogation of the Parliament, It was the Plea­sure of their Majesties, to order a second Charter of Regulations, dated the 28th of September 1694, to obviate some Objections that had been made.

[Page 5]In these Charters of Regulations, there are many Provisions made, for the General Benefit of Trade, and for the Publick Weale of this Kingdom: Particularly, the Company is thereby oblig'd, to Export to the East-Indies, to the Yearly Value of 100,000 l. at the least, Company by these Charters bound to ex­port yearly 100000 l va­lue in Cloth &c. to the great benefit of the Na­tion. in Goods of the Growth, Product, or Manufacture, of England; and to furnish the Crown Yearly with 500 Tun of Salt-petre, at the [...] of 38 l. 10 s. per Tun, in time of Peace; and 45 l. per Tun, in time of War: The Company are ready to make appear, of what Advan­tage their Yearly Exportation of Woollen Manufacture, And to furnish the Crown with 5 [...]0 Tons of Petre at [...]5 l. a Ton, in Time of War. has been to this Nation; and that they have carry'd out Draperies to a great Value; which would not have been exported by any other Trade. And it must be owned, That the Companies Obligation, to serve the Crown with Salt-petre at such a Price, has sav'd the King a great Sum, during the last War; Tho' then worth above 70 l. the Market-price being generally 70 l. per Tun, and upwards.

Since this time, the Company have lost several Rich Ships, The Company suffering by the War and yet supporting the Trade, hope to enjoy the Pro­fit thereof in Peace. out­ward, and homeward, bound; and having born the Brunt of the War, and supported the Trade, in times of Hazard, they well hop'd to receive some Returns of Profit, in time of Peace.

Upon which account, an Intimation having been given, in De­cember last, to some of the Court of Committees, Upon Intimation given. by persons of con­siderable Rank in the Government, That a Proposal from the East-India Company, to make a Loan, might be acceptable, They sounded several Members of their Body, how they stood dispos'd, to advance a Sum of Money, in Consideration of a Settlement, by Authority of Parliament; and finding many inclin'd to it, They resolv'd to take the first seasonable Opportunity, to lay this Matter before a General Court; and accordingly, It was propos'd, and agreed, in a General Court of Adventurers, for the General Joynt-Stock to the East-Indies, held the 14th of April 1698, They offer'd a Loan to the Government of 700000 l. in April, 1698. That by settling the East-India Com­pany, a Loan of 700,000 l. may be made; which Proposal is ready to be exhibited to your Lordships: And the Court pitch'd upon this Sum, because it did formerly seem the publick Sence, that an Establish­ment might be reasonably granted (their Sufferings by the War consi­der'd) for the Loan of 600,000 l.

They were not without some Encouragement, to offer this Pro­posal; But as it has since appear'd, there was privately carry'd on, by the Interlopers, a Design, of proposing a far larger Sum: For some few days after the Companies Offer of 700,000 l. was made, Upon this, in May, came the Proposal of 2 Millions. Mr. Shep­pard's Proposal of Two Millions was mention'd; and on the 20th of May, tender'd to the House of Commons.

And (whereas formerly it has been the constant Custom, in Farms, Bargains, and Offers of the like Nature, not to close with a new Pro­posal, till the first Bidder be ask'd, whether he is able to advance far­ther) in this Case, the Company, notwithstanding their Charter, and the Right they have to the Trade, were early told, without doors, That their Proposal should be oppos'd, though they would lay down the two Millions in question.

However, the Company thought it their Duty, to do their Utmost for the Service of the Government: And being inform'd of Resolu­tions made by the Honourable House of Commons, whereupon the 10 th. of June, for the raising Two Millions, on a Fund of 8 per Cent. with the Additional Advan­tage of the Trade to the East-Indies; They (for the Preservation of above a Thousand Families, interested in their Joynt-Stock) in a [Page 6] General Court held the 10th of June Instant, did agree to submit their present Stock, to a Valuation of 50 per Cent. viz. 20 per Cent. for their dead Stock, The Company offer'd to raise 2 Millions. and 30 per Cent. for their quick Stock (which they were contented to warrant at the said Sum) and upon these Terms they offer'd to open their Books for new Subscriptions, in order to raise the said two Millions: And afterwards, to ascertain the Payment of the said two Millions, they held a General Court on the 20th in­stant, And by Persons of known Abilitys to pay down 200000 l. to se­cure the rest as by their subscriptions in which they agreed to an immediate Subscription by private Adventurers, of 200,000 l. to be paid as the first Payment, subject to make good the subsequent Payments; which Subscription was accor­dingly made, by persons of known Abilities and Substance. And these two Proposals, the Company is likewise ready to exhibit to your Lordships.

And the Company will presume, Humbly to affirm before your Lordships, the Company well assu­red they could comply. that, from the Resolution and Chearfulness, which was observ'd among the Adventurers, they have Grounds of Assurance, that the Government might have firmly depended upon the Performance of such their Proposal.

But, May it please your Lordships; the Company is inform'd, that there is a Bill pass'd the Honourable House of Commons, and now de­pending before your Lordships, But a Bill is now passed the Commons, tending to deprive the Compa­ny of their 44000 l. per Annum Revenue. which highly tends to the Prejudice of the Companies Charters, and Rights thereby granted; and also to de­prive them of the Property which they have in Lands of Inheritance, and other Estates and Interests in Forreign Parts, to the Value of 44000 l. per Annum: also of their several Forts &c. which Bill likewise, by undeniable Consequence, deprives them of their Possession and Right, in several Forts and Forti­fications; the Purchase and Improvement of which, have, at several times, cost them above a Million of Pounds Sterling.

And they crave leave, humbly to lay before your Lordships, that this Bill grants to a General Society to be establish'd, That from the 29 th day of September 1698, Granting to others the Sole Trade to India. they shall have, use and enjoy, the whole and sole Trade and Traffick, to and from the East-Indies; and the only Li­berty, Ʋse and Priviledge, of Trading and Trafficking thither. Which Grant, the Company humbly conceives, to be directly contrary to the Tenour of their several Charters, contrary to the Tenour of their Charters, viz. viz. Of that from King Charles the Second, dated April the 3d 1661, whereby there is granted to the Company, for the King, his Heirs and Successors, That they shall for ever hereafter, have, use and enjoy, the whole, intire, and only Trade and Traf­fick, to and from the said East-Indies; subject to the Conditions therein mentioned. And directly contrary to one other Charter from His pre­sent Majesty, bearing date the 7th of October 1693, whereby the King, for Himself, His Heirs and Successors, grants to the Company, to have, hold, use, exercise and enjoy, the Ports, Islands, Plantations, Territories, Castles, Powers and Priviledges, in such and the same Manner, as they might or ought lawfully to have held the same by their former Charters, sub­ject to the Conditions therein mention'd. And contrary to one other Charter of His said Majesty, bearing date the 11th of November 1693, whereby the King, for Himself, His Heirs and Successors, does Order, Direct, Limit and Appoint, That the Joynt-Stock of the said Governour and Company, shall continue One and Twenty Years, to be computed from the Date of the said Letters Patents, subject to the Conditions therein mention'd.

The Company humbly submit to the Consideration of your Lord­ships, Whereof no forfeiture is charged upon them. That since the said Charters were granted, no Breach or Forfeiture of their Rights, has been committed by, or pretended to be charg'd upon them.

[Page 7]'Tis true, that in a Charter from His Present Majesty, The Proviso in Septem­ber 1694, no way af­fects the Company on pretence of unprofita­bleness. bearing Date the 28th of September, 1694, there is a Provisoe, That if it shall appear to the King, His Heirs or Successors, that the said two Char­ters, or any other Charters, heretofore Granted, shall not be Profitable to the King, his Heirs or Successors, or to this Realm, that then, and from thenceforth, upon and after Three Years VVarning, to be given to the said Company, by the King, His Heirs and Successors, under His or Their Privy Seal, or Sign Manual, the said several Letters Patents, &c. shall cease, be void, and be determin'd. But the Bill now depending, does in no part suggest, That the said Charters, or the Trade from thence ari­sing, have been Unprofitable to the King or Kingdom. The present Bill and the Companys offer proving the Contrary. On the con­trary, the Trade depending upon the said Charters, is rather declar'd Profitable by the Scope of the said Bill, being thereby made the Re­compence and Incouragement for raising of Two Millions. But if the said Charters, upon the present Exigency, should be pretended Unprofitable to the King, and His Realm, by being a Bar to the raising of this Supply, yet the Companies Offer, and Proposal afore­said, removes, as 'tis hop'd, that Pretence. And the Company sub­mit it to the Wisdom and Justice of Your Lordships, The Companies Grant as is conceived remain­ing Good till it proves unprofitable by the forms of Law. Whether their Charters shall be thus prejudg'd Unprofitable; and whether the Rights thereby Granted, ought not to remain, till the said Charters are found Unprofitable to the King, and His Realm, by the usual Forms of Law?

The Bill now depending Enacts, The Bill now depend­ing, forbids all Trade to the East-Indies, ex­cept the subscribers, That after the 29 th of September the East-Indies shall not be visited, frequented, or haunted, by any other of the Subjects of His Majesty, &c. during such time, as the Benefit of Trade thereby given, or intended to be given to the Subscribers, ought to continue, And the said Bill lays great Penalties, under great penalties, upon such as shall do any thing, contrary to the Intent and Purport of the said Act. 'Tis true, in a subsequent Clause, Provision is made, and after the Compa­nies 3 years, That the Company may continue Trading to the East-Indies for Three Years; viz. to the 29 th of September, 1701: But after that Time, (being prohibited resorting thither) the Forts and Castles, which have cost a Million, makes no provision for their Revenue and dead stock. Erected in those Parts, will be a dead Loss upon them, and they can reap no manner of Advantage, from their Plantations, Edifices, Dues, and Rights, in India and Persia, which now yield them 44000 l. per An­num. And 'tis humbly hop'd that Your Lordships will not think it consistent with Your Justice, to give Property so large a Wound.

Not only the Company must suffer an Immense Loss, by this in­tended Dissolution of their Charter, without any Provision for the Reimbursement of their Expences, and without any Satisfaction for their Lands, and Rights of Inheritance, in those Parts, (which they hope will have its due Weight with Your Lordships); but they pre­sume, they shall be able to show, That the Kingdom in General, By the Companies dis­solution, the Kingdom will be greatly prejudi­ced. and the Trade it self, must receive great Prejudice, by this sudden Disso­lution of the Charter, and shifting of Hands, without Previous Agreements, and Stipulations with the Indian Princes and Gover­nours.

It would be less Prejudicial, to the Body of this Kingdom, if what were Lost to the Company, in their Revenue arising in India, The Companies Reve­nue likely to cease with them. were like to accrue to their Successors: But their Rents at Fort St. George, Fort St. Davids, and at Bombay, being produced from the Particulars following; viz. From 5 l. per Cent. Custom on all private Persons Goods Imported, or Exported, by Sea: From Licenses for selling [Page 10] Company, yet that New Company ought not to Trade, during the Three Years, by Reason His Majesty has Covenanted to the contra­ry. This Bill entitles Sub­scribers to Trade during the three Years. The Bill impowers any New Corporation, or Subscribers, to Trade, even during the said Three Years, concurrent with the Com­pany; Several hardships the Company lye under thereby more than the others. but with this disadvantageous difference, That the Company must send out every Year a Hundred Thousand Pounds in Woollen Manufacture, and the New Subscribers none: The Company must deliver to the King 500 Tuns of Salt petre, at an under-value, the New Subscribers none: They are charged with Taxes for their Ca­pital Stock, the New Subscribers are exempted by the Act from Pay­ment of Taxes: The Company must maintain their Forts and Ca­stles, and the New Subscribers will have an equal Benefit in the Trade. So that this unequal Burthen, is in effect immediately de­priving them of the Trade. And 'tis plain, from this inequality, although they are allowed Three Years, they can thereby reap no Benefit.

And 'tis likewise humbly laid before your Lordships, that though the present Company, consists of many persons of Figure in the Na­tion, and of Substance, as is evident from the Proposal they made, of raising the two Millions, and from the Subscription of 200,000 l. to ascertain the said Proposal, compleated in two Hours; yet so large a Body as theirs is (consisting of 420 old, and 781 new Adventurers) besides those which hold Stocks in other Mens Names, which make near double the number, Many hundred family's will be ruined by this Bill. Doth also contain very many People, who are by no means able to bear so great a Loss, as the Consequences of this Act must unavoidably bring upon them. The Company there­fore humbly craves leave to offer, that there are among them some Hundreds of Families (many of which are Widows and Orphans) who have no other Subsistence, but their Interest in this Stock, whose utter Ruin, this Bill (if it take effect) must certainly occasion. But 'tis more especially hoped, that the Noble Minds of your Lordships, will be struck with Compassion, when, in your Wisdoms, you consider the Deplorable Condition of some Hundreds of the New Adventurers, who, who came in upon the Credit of the Kings Charter. in 1693, did Imbark their whole Fortunes in the said Stock, Subscribing thereunto large Sums, upon the Credit of the King's Char­ter; in which Subscription they met with no Opposition, Check, nor Discountenance, from the Parliament then sitting. And have farther Imbark'd in the said Trade, and have advanced more Money for the support of the Trade. for support thereof, by advancing very great Sums of Mony, the loss of which will be hazarded by this Bill, which will yet more contribute to their Undoing.

Since the new Subscription, the Company have lost twelve great Ships, after the loss of the 12 Ships which happen'd since that Charter. which in England would have sold for near Fifteen Hundred Thousand Pounds, not through any Fault of theirs, but by the Acci­dents and Calamities of the War; Notwithstanding which great Losses, their Charters, and the Trade from thence arising, have been so far Profitable to the Publick, that they have still carried on the Trade, they have also paid 295000 l. Customs. above 85000 Taxes. Provided for the King 6000 Barrels of powder in Holland, advanced 80000 l. to circulate Exchequer Bills. during a long War; and since the new Subscription, have paid in Customs 295,000 l. and in Taxes (besides Taxes for the Cur­rent Year) 85,000 l. They did likewise supply His Majesty, in Hol­land, with 6000 Barrels of Gun-powder, upon a very pressing occasion. And they subscribed at a time of great Extremity 80,000 l. to the Circulating of Exchequer Bills, at the Instance of the Lords of the Treasury, the Principal Persons of the Company, promoting the said Subscription very much among the other Adventurers, which was then judg'd an Important Service.

[Page 11] May it please Your Lordships: It appearing manifestly,

1 st, That the Company have a Right to the Trade to India, by several Charters; of which no Breach has been assign'd.

2 ly, That their last Charters are made, pursuant to several Regu­lations, Propos'd and Resolv'd, in the Honourable the House of Commons.

3 ly, That the said Regulations contain Provisions Advantagious to the Crown, and Beneficial to Trade in General; and particularly to the Woollen Manufactures; of which there is no care taken in the Bill depending.

4 ly, That the Company have made a Proposal, to advance the two Millions, intended to be raised by the said Bill, which Proposal they afterwards ascertain'd, by a Subscription of 200,000 l. subject to For­feiture in case of Failure.

5 ly, That the Kingdom may lose very considerably, (besides their Footing and Settlements in those Parts; which will be an irrecover­able Loss,) by this sudden Dissolution of the Charter, with many Rights and Priviledges, which the present Company now has in India, Persia, and other Places.

6 ly, That the Bill makes no Provision for Settlement of a Stock, to carry on the Trade; for want of which, in process of time, it may be lost to England.

7 ly, That it admits Foreigners into the Benefit and Mystery of the Trade, which may produce bad Effects.

8 ly, That the Bill does not seem fram'd with Encouragements, suffi­cient to bring in the intended Subscriptions.

9 ly, That during the three Years, in which the Company are al­low'd to Traffick, the Trade is put upon such an unequal Foot, be­tween them, and the General Society erected by the Bill, that du­ring the said Term, the Company can reap no Advantage from the Trade.

10 ly, That many Hundred Families, have their whole Fortunes de­pending in the Stock of the present Company, who must be entirely ruin'd, if this Bill take Effect.