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<DATE>2008-09-05</DATE>
<RESPSTMT>
<NAME>John Pas</NAME>
<RESP>MURP</RESP>
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<ITEM>Proofed and reviewed as part of batch B080827.pdcc.</ITEM>
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<IDG S="marc" R="UM" ID="B02939">
<STC T="W">E104A</STC>
<BIBNO T="oclc">51784517</BIBNO>
<VID>174928</VID>
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<TEXT LANG="eng">
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<DIV1 TYPE="text">
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<HEAD>EAST-INDIA TRADE</HEAD>
<P>ONe of the Opinions of the Committee appointed to con&s;ider how to pre&s;erve the <HI>Ea&s;t-India</HI> Trade to the Nation, being (as di&s;cour&s;ed of abroad) that a Stock not le&s;s than Fifteen Huudred Thou&s;and Pounds; and not exceeding Two Millions, &s;hall be rai&s;ed by Sub&s;criptions for the carrying on of that Trade, the true &s;ettling of which, as it may probably prove to the mighty Advantage of &s;uch the Sub&s;cribers to it; &s;o it can bring no Benefit but a Prejudice rather, to all others not therein concerned. Now,</P>
<P>This not yet being Re&s;olved in the Hou&s;e,</P>
<P><LABEL>'Tis Humbly Propo&s;ed.</LABEL></P>
<P>That a New Company may be E&s;tabli&s;hed according to &s;uch Regulations as have been Voted in the Committee, and &s;hall be Agreed in the Hou&s;e.</P>
<P>That the &s;ame &s;hall be Managed by a Number of Per&s;ons (not exceeding Forty) to be Cho&s;en by Parliament, to whom they &s;hall be Accountable.</P>
<P>That that Number of Per&s;ons &s;hall be Impowered to take up Money at <HI>Intere&s;t</HI> not exceeding 1500000 <HI><ABBR>l</ABBR></HI> for carrying on of the <HI>Trade.</HI></P>
<P>That the Stock &s;o taken up and Employed, &s;hall be liable to pay the <HI>Intere&s;t</HI> of the &s;aid Money and Principal when it can be done, and that there may be no fear of Rai&s;ing Money enough to well carry on thus the <HI>Ea&s;t-India Trade.</HI></P>
<P><LABEL>'Tis farther Propo&s;ed,</LABEL></P>
<P>That there &s;hall be &s;ettled for ever, one &s;ingle Months <HI>Tax</HI> in a year, after the rate of 70000 <HI><ABBR>l</ABBR> per Men&s;em</HI> as a Fund to a perpetual <HI>Intere&s;t</HI> at 5 <HI>per Cent</HI> of 1400000 <HI><ABBR>l</ABBR></HI> but not to be rai&s;ed but when found needfull by the Per&s;ons appointed to Manage the <HI>Trade.</HI></P>
<P>So that be&s;ides the Money Employed in this Trade, and the Profit of it, out of which the <HI>Inte|re&s;t</HI> of the Money to be Borrowed for the carrying it on, may be ea&s;ily paid here will be Land Security as a perpetual Fund for the <HI>Intere&s;t</HI> &s;ettled, &s;o that &s;hould the <HI>Stock</HI> fail, the Lenders will be &s;ecure, which will give the Conpany &s;uch a Credit, they can never want <HI>Money</HI> at the lowe&s;t <HI>In|tere&s;t</HI> that any where it can be had. And,</P>
<P>Thus the Profits fir&s;t ari&s;ing, may go to clear the <HI>Money</HI> fir&s;t Borrowed, and after that is paid, to the Owners of Land in Proportions to their E&s;tates as Rated to this &s;ingle Months Tax; and it may be hence hoped, that after the fir&s;t five or &s;ix years, without paying one Penny, the Nation in general may have the whole Benefit of this great <HI>Ea&s;t-India</HI> Trade.</P>
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