THE Trade to Africa is allowed to be of Consequence sufficient to deserve an Extraordinary Care. The Trade of Consequence. The present Question is not whether it should be Preserved or not. but how it may be most Advantageous to England, and the Colonies.

To manage the Trade in a Company without a Stock seems both improper and impracticable, Company Without a Stock impra­cticable. on many Accounts; in particular, on Account of the Charge of Forts, Castles, and Treaties with the Petty Kings of the Country, which is very Chargeable, and alwayes requiring Secresie and Expedition; and also to prevent the Designs of other Europeans, who have Forts and Castles on the same Coast: And if they could possess themselves of our Forts and Castles, would soon become Masters of the whole Trade, and exclude us.

And it is remarkable, All Nations support Forts and Castles by a Joynt-Stock. That where Forts and Castles are necessary for the Preservation of the Trade, no Nation whatsoever have a Company without a Joynt-Stock.

The Case of the Levant Company is otherwise: They need no Forts and Castles, being under Protection of a Government willing to Treat with, and able to Defend them.

So that were it not for the Forts and Castles, which only an Incorporated Company, Trading upon a Joynt-Stock, can main­tain, Foreigners instead of leaving us any share in that Trade, would ingross the whole. Nor is it to be supposed, that Private Persons can, upon their Narrow and Uncertain Funds, contend against the Power and Craft of those other European Nations who manage their Traffick thither by a Joynt-Stock, viz. French, Dutch, Danes, Hamburghers, &c.

But a Company, A Company Regulated with a Joynt-Stock most beneficial. with a Stock, to manage the Trade, allowing all Persons the Freedom of Trade, on certain Limitations and Con­ditions which may put them and the Company upon equal Charge in Trade, seems the most Reasonable and Easie Way, both to Pro­mote and Preserve the Trade it self in General, and the true Interest of the Colonies and Private Traders in Particular. For,

1. By this Means the Forts and Castles, which defend the Trade, will more certainly be Maintained, for the Company will be bound to that, to secure their own Goods and Treasure.

2. The Colonies will be certainly bettered by it; for the supply of Negroes will be more certain, and in greater Numbers: Nor can they be imposed upon in Price, because they, and all other Per­sons, may fetch them, if they think fit.

3. If a Trade is carried on by a Company without a Stock, every Man is at Liberty whether he will Trade or no: And if the Publick Affairs should make it very Hazardous or Unprofitable, they will decline Trade, and then the Forts and Castles must consequently be lost. For if few Ships should be sent thither, too little would be raised to uphold the Forts and Castles, which must alwayes be supplyed with Men, Provision, Stores and Ammunition from England: Whereas a Company, with a Stock, must Trade to imploy their Stock in War as well as Peace, and maintain the Forts and Castles for the Security of their Trade and Effects in the most dangerous Times, at the greatest Expence, as the present African Company have done in the late War.

4. A Company with a Stock, with Liberty for others to Trade on Equal Charge, hath many Advantages to the Publick, by increa­sing Trade, and by making room for Gentlemen, Widows, Orphans, or any Persons out of Trade, to imploy their Moneys, and will give the Private Traders opportunity to improve their Stock and Industry, to the Advantage of themselves in particular, and the Nation in ge­neral.

Since then the present Bill gives Liberty to all His Majesties Sub­jects to Trade at a like Charge, Present Com­pany may de­serve the Esta­blishment by this Bill pro­posed. the Present Company seems to de­serve at least this Method of Settlement in the Bill prescribed, who have for Twenty Six Years past maintained the Trade, and preserved the Forts and Castles at their own Charge, and have bought and built the Forts and Castles they now possess, have as a Company paid Eleven Thousand Five Hundred Thirty Pound Eight Shillings Taxes during this War, have sunk their Original Stock to maintain the said Forts to support the Trade, and have never divided above 3 per Cent. Communibus annis, and have during this War lost above Two Hundred Thousand Pounds Sterling in indeavouring to carry on this Trade, and notwithstanding the scarcity of Money, and the said great Losses, in the Year 1693 raised the further Sum of Seventy Two Thousand Three Hundred and Forty Pounds for the preserving the said Forts, Castles, and Trade, whilst some who oppose Settling the Trade have Enjoyed it without any Charge; And since the Peace have raised the further Sum of Fifty Seven Thousand Ninety Six Pounds for the carrying on the said Trade. By which 'tis hum­bly conceived they have given a very good Assurance, that under such a Company the Trade can never be lost, but the Forts and Castles will be supplied in the most dangerous Times.

And yet by this Bill all Persons may Trade, and their Factors and their Effects, be equally protected paying but an equal propor­tion for the support of those Forts and Protection of the Common Trade.

The Company is by this Bill also oblig'd to give a true Account upon Oath of all Moneys Received and Paid on the Account of the said Charge, The Company to Account for what they Re­ceive and Pay. and to admit any Person on behalf of the Pri­vate Traders to inspect at all times the Accounts of their own Export, and of Moneys laid out for the Maintenance of the said Forts and Castles.

All which is humbly submitted to the Consideration of this Most Honourable House.