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<DATE>2014-02-04</DATE>
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<NAME>TCP Staff (Michigan)</NAME>
<RESP>MURP</RESP>
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<ITEM>Proofed and reviewed as part of batch B140012.pdcc.</ITEM>
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<HEAD>AN ARREST On the Ea&s;t <HI>INDIA</HI> PRIVATIER, <HI>As per Advice and Copy &s;ent to its Commander Sr.</HI> J. C. <HI>from</HI> H. K. <HI>near</HI> HAMBURGH.</HEAD>
<OPENER><SALUTE>SIR;</SALUTE></OPENER>
<P>SEn&s;e as well of your Worth as of my Obligation to you being a con|&s;tant Spring of de&s;ire in me to &s;ub&s;erve your <HI>Inclination</HI> and <HI>Intere&s;t,</HI> I could not let &s;lip this Occa&s;ion given me (as opportune as ca&s;ual) to &s;erve them in the Information of an Arre&s;t hereunto annexed; If the Original thereof be, as I hear it is, de&s;igned for <HI>Royal</HI> View and Judgment, exclu&s;ive of all other, I have thwarted them, and gratified you by motion equally unexpected and hidden to both.</P>
<P>Tho the <HI>end</HI> and <HI>motive</HI> of this <HI>Mi&s;&s;ion</HI> be obvious in the Rea&s;on of the thing &s;ent, yet &s;omewhat I may &s;ay to each of them. The <HI>Aim</HI> or End there|of is, to propagate <HI>Philopatria&s;m,</HI> and to &s;tate and promote the real <HI>Intere&s;t</HI> of our <HI>King and Nation in Trade,</HI> particularly in that of Ea&s;t <HI>India;</HI> next to &s;erve your Intere&s;t and Inclination too, if <HI>Philopatris</HI> be Name and Nature: for walking Exactly, and being a Common good is <HI>Wi&s;dom</HI> and <HI>Satisfaction</HI> in <HI>Philopatria</HI> and <HI>Theoprepia;</HI> as being Rich and growing in Contraction is, in <HI>Argentoria:</HI> Only with this difference, the former is <HI>real</HI> and <HI>everla&s;ting,</HI> the later a <HI>Dream</HI> and mu&s;t <HI>&s;oon</HI> awake <HI>Fools</HI> in for|lorn <HI>de&s;pair.</HI> The <HI>Motive</HI> thereof, (be&s;ide what hath been &s;aid) was the late <HI>practi&s;e</HI> of printing the Allegations of the Turkey Merchants pre|&s;ented to the view and judgment of His Maje&s;ty in Council, (exclu&s;ive of all other) without their con&s;ent. A matter you are concerned in, and in which you &s;ee your Example doth di&s;po&s;e to Imitation; &s;ince by &s;peci|al contrivance and &s;undry <HI>&amp; caetera's</HI> you are in effect the whole Ea&s;t <HI>India</HI> Company. If you now &s;ail in Morals, One will be induced to <HI>a&s;&s;ert mani|fe&s;ted un-truths before Councils,</HI> and tender his <HI>Oath</HI> thereto. Another will <HI>open</HI> &s;ealed <HI>Letters</HI> and <HI>read Contents</HI> neither directed nor appertaining to him. A third will utter <HI>Contradiction</HI> or Fal&s;hood in print: e.g. <HI>An&s;wer to Al|legations</HI> pag. 12. which &s;aith, <HI>As to the Accu&s;ation of &s;ending Throw&s;ters, Wea|vers, and Dyers, the Ea&s;t</HI> India <HI>Company &s;ay, the whole Accu&s;ation is a mi&s;take,</HI> (i. e. they never &s;ent any) <HI>except only as to one or two Dyers, which they have u&s;ually &s;ent to the Bay of</HI> Bangala, <HI>i.e.</HI> tho they <HI>u&s;ually</HI> (&s;o oft as their Ships go) &s;end them by <HI>one's</HI> or by <HI>two's</HI> yet they &s;end none; Riddle me what's this? Tho other prettyne&s;&s;es be in the <HI>An&s;.</HI> yet in that they are but &s;mall, a &s;in|gle winding &s;heet may &s;erve them. This you &s;ee is fill'd already with Con|tents &s;ufficient to te&s;tifie that I am a True <HI>Philopatrite,</HI> and without Trope or Complement,</P>
<CLOSER><DATELINE><DATE>16 <HI>Sept.</HI> 1681.</DATE></DATELINE>
<SIGNED>Your Affect. and Faithf. Serv. <HI>H.K.</HI></SIGNED></CLOSER>
</DIV1>
<DIV1 TYPE="text">
<PB REF="2" MS="y">
<HEAD>REASONS For Con&s;tituting a New EAST-INDIA COMPANY IN LONDON.</HEAD>
<P><HI>COmmunities,</HI> i. e. humane Beings collected for common good, or Bodies politick are be&s;t repre&s;ented by the <HI>Body natural.</HI> And <HI>Trade,</HI> as means to the Life, the &s;trength, and beauty thereof, may be re&s;embled to <HI>good blood</HI> in it; which in <HI>circulation</HI> is the chief Succour and Health of the whole, and with mo&s;t &s;peed runs to relieve the wounded or <HI>meane&s;t</HI> part; When therefore upon any Stop, be it by <HI>contraction</HI> or other|wi&s;e, we &s;eek to remove the ob&s;truction, or apply for regu|lar motion, we do not endanger the Trade, but &s;ub&s;erve it, and the pro&s;perity of the Community: As, we hope, will ap|pear when our <HI>Rea&s;ons</HI> (mo&s;t humbly offered) are con&s;i|dered.</P>
<P><HI>Why a new Sub&s;cription unto a Joynt-Stock to be managed by a regulated Company will improve the Trade of the</HI> Ea&s;t Indies <HI>unto National Advantage beyond what it is at pre&s;ent?</HI></P>
<P N="1"><HI>REASON</HI> I. Becau&s;e though <HI>this</HI> Trade, once but the <HI>Fortieth,</HI> be now increa&s;ed to be in value <HI>the Fourth</HI> part of the
<PB N="3" REF="2">Trade of this Nation, yet it doth now &s;upport, or entertain <HI>fewer</HI> per&s;ons as Proprietors, than it did when the Company was <HI>fir&s;t</HI> &s;ettled. The <HI>Stock</HI> not being encrea&s;ed by new Sub|&s;criptions in proportion to the Trade; for continuing 375000 <HI>l.</HI> (upon which all Sales and Dividends are made) the Adventurers in&s;tead of being increa&s;ed to 9000 proportionable thereto, are re|duced from 900 as they were at fir&s;t, to 550. Now as <HI>Joynt</HI> is re|qui&s;ite to make a Stock in this Trade <HI>profitable,</HI> &s;o <HI>exten&s;ion to Per&s;ons</HI> is nece&s;&s;ary to make it <HI>National.</HI></P>
<P N="2">II. Such are the <HI>CORR&V;PTIONS,</HI> grown up with time in the management of this Trade, that the <HI>major</HI> part of the <HI>Gains</HI> is divided among <HI>Forty</HI> men, and the whole Admini&s;tra|tion or <HI>Command</HI> in the hands of <HI>Ten,</HI> I had almo&s;t &s;aid <HI>One</HI> man; Whence a <HI>Particular</HI> Intere&s;t is carried on under the name of a <HI>Publick.</HI></P>
<P N="3">III. The Method now u&s;ed in carrying on the Trade, by ta|king up 6 to 700000 <HI>l.</HI> on a Common Seal, at <HI>Intere&s;t,</HI> (no Member of the Company being oblig'd for payment) is not only <HI>indirect</HI> &amp; <HI>dangerous</HI> (in that they &s;eldom have in <HI>England</HI> near the value they owe, and there is a po&s;&s;ibility their Ships may mi&s;carry) but al&s;o very <HI>unequal</HI> to the Subject. The <HI>Com|pany</HI> reaping from 50 to 60 <HI>per Cent.</HI> profit thereby; whereas the <HI>Lenders</HI> have but 3 or 4 <HI>per Cent</HI> for <HI>Intere&s;t</HI> and <HI>Hazard.</HI></P>
<P N="4">IV. The Major part of Merchants and many other people of our Nation are <HI>excluded Trade,</HI> if not admitted into This. Some being Minors or unborne when this Company was &s;etled, and others have their Trades &s;wallowed up by This; As <HI>Linens</HI> from <HI>Hambrough, Flanders, Holland</HI> and <HI>France; Taffeties</HI> from <HI>Italy</HI> and <HI>France,</HI> and in part <HI>our Manufacture</HI> at home.</P>
<P N="5">V. This Company, finding great Gaines by appropriating this Trade to a <HI>few,</HI> do <HI>hinder</HI> the <HI>Inlarging</HI> thereof to &s;undry Places in <HI>India,</HI> &amp;c. to which nothing can conduce more, than the inlarging of Stock and number of Per&s;ons therein. It be|ing certain that if it were &s;o increa&s;ed to two Millions (of which the Trade is capable) and a Regulation an&s;werable, it would
<PB N="4" REF="3">employ, as more Men and Ships in the <HI>Indies,</HI> &s;o in all other places of this Trade; Augment Cu&s;tom to his Maje&s;ty, and be of great advantage to his People in general.</P>
<P N="6">VI. It agreeth, as with the <HI>Argument</HI> u&s;ed to obtain a Grant of this Charter, &s;o with their <HI>Preamble</HI> or the Act of a Gene|ral Court, <HI>viz.</HI> That they &s;hould at the end of <HI>&s;even years ballance their Books, and open them for new Sub&s;criptions:</HI> A thing they never yet did, except in &s;uch &s;allacious ways, that no one per&s;on, upon rea&s;onable Terms, could go in or out. By which, be it neglect or deceit, they keep Sup&s;cription from us: although it be our indubitable Right, if not in the intent of their Act, yet, in the <HI>Intendment</HI> of his <HI>Maje&s;tie's Grant,</HI> as it was the <HI>Motive</HI> of it.</P>
<P N="7">VII. The <HI>Primitive Practi&s;e</HI> of this Company and the <HI>Rea&s;on</HI> thereof requireth now a <HI>New Sub&s;cription.</HI> For when 750000 <HI>l.</HI> was at fir&s;t &s;ub&s;cribed, the half only was paid, being as much as the Trade then required. The &s;ame rea&s;on, now two Millions is requi&s;ite, doth direct unto the way for Supply, not by <HI>borrowing,</HI> but by <HI>opening</HI> for Sub&s;criptions: This be|ing the mo&s;t <HI>natural,</HI> becau&s;e primitive, way for it. And whereas this Company take Money at Intere&s;t, and decline calling in the other half &s;ub&s;cribed by their own Members; it &s;hews that the Regency is in them, who have ab&s;olutely &s;ub|jected every thing to their own particular Intere&s;t.</P>
<P N="8">VIII. Whereas it is unu&s;ual to allow, as Motive or Reward, unto Invention or Di&s;covery, other than &s;ome certain Term of 10 to 15 or 20 years: Yet this Company, though not Di&s;cover|ers of this Trade, have enjoyed it 24 years (in 10 of which they made 7 for 1 of their Money) which may be conceived &s;ufficient Reward for what Service they pretend to have done their Countrey.</P>
<P N="9">IX. If by opening this Trade to <HI>JAPAN,</HI> to <HI>CHINA,</HI> or otherways, it &s;hould become double or treble what it is, mo&s;t likely, without a new Settlement, the de&s;ire of <HI>Gain</HI> will then effect a Paucity of Adventurers (the natural Effect of this Cau&s;e which u&s;ually increa&s;eth as a Gainful Object is increa&s;ed) It
<PB N="5" REF="3">having gradually &s;o done &s;ince the time it began to advance in <HI>Anno</HI> 1666. For no man had of this Trade 4000 <HI>l</HI> value in <HI>An|no</HI> 1665, but now &s;ome have 40000, others 50000, another 100000 <HI>l.</HI> in it. Of like produce the de&s;ire of <HI>Security</HI> will be, in that an Ingro&s;s of the Stock giving them the Management, they will have for their Security the <HI>Stock</HI> and the <HI>Nations Mo|ney,</HI> borrowed on a Common Seal; which upon Misfortune af|fects not their Particular.</P>
<P N="10">X. Many Per&s;ons, partly through decay of other Trades, but chiefly to bring <HI>This</HI> to a <HI>Rea&s;onable and National Settlement</HI> in a Joynt Stock, have engaged in <HI>Interloping;</HI> who having met with Profit, will &s;carce de&s;i&s;t that way, unle&s;s this be opened to them. And &s;hould they be denyed Freedom to unlade and &s;ell here, their going to Foreign Ports may excite to that which in the I&s;&s;ue may divert in part or otherwi&s;e prejudice the <HI>India</HI> Trade of this Kindom. To obviate which Mi&s;chief (by the two Ships now &s;o imployed) it &s;eems requi&s;ite to give them admit|tance here. Whereby His Maje&s;ty will receive his Cu&s;tomes; and the Interlopers by being Sub&s;cribers into the New Joynt Stock or by other means (when they are here be&s;t to be u&s;ed) may be prevented for the Future. And we conceive the Equity and U&s;efulne&s;s of &s;uch a New Charter as makes the Trade Natio|nal, will give it the <HI>Force of Law,</HI> an effectual Bar to Interlo|ping, which the pre&s;ent cannot be, becau&s;e it inclo&s;eth Trade not <HI>for,</HI> but <HI>from the People;</HI> and being pernicious to the Kingdom, who&s;o &s;hall practi&s;e as the&s;e do with it, are <HI>indict|able</HI> at Common Law.</P>
<P N="11">XI. It will be very &s;evere that the <HI>Turkey Merchants</HI> &s;hould have no Admittance into <HI>this,</HI> &s;o like to ruin <HI>theirs;</HI> when they have de&s;erved well, by carrying on a Trade which (though le&s;s Profitable to them&s;elves) Exporteth yearly of <HI>Our Manufacture</HI> 400000 <HI>l.</HI> and Importeth Goods for a farther <HI>Manufaction,</HI> whereby the Nation gaineth 600000 <HI>l. per annum.</HI></P>
<P N="12">XII. <HI>Admi&s;&s;ion into this Trade</HI> any other way will be either <HI>difficult,</HI> or as <HI>none</HI> unto the purpo&s;e of <HI>general &s;atisfaction and Intere&s;t;</HI> As <HI>Purcha&s;e</HI> is, being when and at what Price the Sel|ler
<PB N="6" REF="4">will, like to that of <HI>Lands:</HI> Whereby the approved and u&s;ual allowed <HI>freedom</HI> of Admi&s;&s;ion into Trade is <HI>de&s;troyed.</HI> Al&s;o Experience &s;heweth, that &s;ince the advance of this Trade the great Sharers therein accumulate more and more; it is only &s;ome &s;mall Sums in Sale e&s;cape their hands. And if more did, it would be but the exchange of AB for CD. A thing not &s;ub&s;er|ving the King's or Kingdom's Intere&s;t in addition of Stock, or of number to Per&s;ons in this Trade. And in that it is by Purcha&s;e and not by his Maje&s;ties <HI>Grace,</HI> our Loyal Hearts re&s;ent it, as <HI>A grievous common Nu&s;ance.</HI> The rather, for that the mo&s;t <HI>needy</HI> of his Royal Help (who be the Objects of his Pity) are for ever <HI>excluded,</HI> becau&s;e they have not Money to buy 100 <HI>l.</HI> at the Rate it now goes; and a le&s;s Sum, original Stock, is &s;eldom, if ever, to be met with.</P>
<P N="13">XIII. This Company as well by &s;ending to Ea&s;t <HI>India, Dyers, Weavers,</HI> and <HI>Throw&s;ters, with In&s;truments for the &s;etting up of Manufactures abroad,</HI> as by the contraction of this Trade to few Per&s;ons, the inequality which ari&s;eth by carrying on the Trade with Money at Intere&s;t, Their <HI>private Trade,</HI> their <HI>own|ing of Ships</HI> (which chiefly belong to a few of them) their refu|&s;ing to inlarge the Stock by new Sub&s;criptions, and by other un|due practi&s;es at home, are <HI>degenerated</HI> form their Primitive Nature, and have <HI>perverted,</HI> to particular advantage, his <HI>Maje|&s;ties Charter</HI> granted for general Good: therefore ought not to be continued <HI>Sole</HI> Po&s;&s;e&s;&s;ors of &s;o profitable a Trade, in <HI>oppo&s;iti|on</HI> to the de&s;ire and Intere&s;t of the <HI>Nation</HI> in general; as it is to the Opinion and Con&s;ent of the Majority of <HI>them&s;elves</HI> in par|ticular.</P>
<P N="14">XIV. As by Contraction the Company do <HI>rob</HI> his <HI>Maje&s;ty</HI> of his Trea&s;ure in this Stock, <HI>&s;cilicet,</HI> the Per&s;ons and Good of his People in general, &s;o by long continuance have well nigh forgot his Maje&s;ty's Favour, the <HI>Nature of their Tenure.</HI> This Trade they deem as their Money, and name it <HI>their Per&s;onal E&s;tate,</HI> in bar of the <HI>great Charter</HI> by which a People depend on their Prince as a <HI>Common Father.</HI> Whereby, ob&s;curing or ob&s;tructing his Maje&s;ty's Beneficence, they cool the <HI>fervour</HI> of his Subjects Affection and Duty to him.</P>
<PB N="7" REF="4">
<P N="15">XV. The pre&s;ent <HI>Conjuncture is opportune</HI> for the terminati|on of this Company, As well in reference to Affairs abroad, as at home; Our Neighbours not being in a Condition to take Ad|vantage thereof: and at home want of Employment for the nu|merous People that have of late applyed them&s;elves, their Stocks, and Ships to Trade.</P>
<P N="16">XVI. As all <HI>pa&s;t terminating</HI> of Old and <HI>con&s;tituting</HI> of New Companies have been advantagious to this Trade; &s;o the pre|&s;ent de&s;ired will be, if a good Regulation be made (as is intend|ed) to prevent in a New the Defections of the Old Company. Until this be done (by new &s;ub&s;cribing two Millions, <HI>&amp;c.</HI>) the pre&s;<GAP DESC="illegible" RESP="MURP" EXTENT="1 letter">nt may go on with the Trade, in connexion with &s;etching off their Effects in <HI>India;</HI> As is ea&s;ily and &s;oon done, becau&s;e they &s;eldom, if ever, have any thing there be&s;ide Forts, <HI>&amp;c.</HI> (call'd a Dead Stock) which mu&s;t always remain to &s;ucceeding Companies. And then the <HI>through change</HI> of the Company will endanger the Trade no more than that annually made, of committees; Nor di&s;commode it otherwi&s;e than the <HI>Old well|grown Tree</HI> is by lopping its exuberant Branches, or opening its Root for fre&s;h Supplies of Water.</P>
<P N="17">XVII. At the <HI>Original Settlement</HI> of all <HI>India</HI> Companies, (be|cau&s;e the <HI>Motive,</HI> as the <HI>End</HI> thereof, is <HI>general good</HI>) no man is <HI>excluded</HI> but by his <HI>own Act,</HI> which ought to be <HI>perpetuated</HI> to us, though cannot, unle&s;s we determine Old and con&s;titute New, &s;o frequent as is con&s;i&s;tent with the <HI>Being</HI> of this Trade, and its profitable <HI>continuance</HI> with us. Wherefore the pre&s;ent Company if continued cannot do other than violate, unto Nati|onal Perdition (as too far already it hath done) the <HI>Rule</HI> and the <HI>End</HI> of <HI>Incorporating</HI> of Trades; for that the Men who frame the trading part of the Nation are in 24 years &s;o changed that they be, as it were, a <HI>new</HI> Generation.</P>
<P N="18">XVIII. In <HI>Charters</HI> granted by <HI>Kings,</HI> wherein Trades are Incorporated to a number of Subjects named, th' <HI>Intention</HI> is not particular, but to them in <HI>tru&s;t</HI> for the general Good. The like ju&s;t Wi&s;dom and Grace of his Maje&s;ty is expre&s;t in the Grant to this Ea&s;t <HI>India</HI> Company, for his Charter &s;aith, When <HI>it
<PB N="8" REF="5">either in whole or in part becometh unprofitable to him or the Realm that then and from thenceforth (after three years warn|ing) it &s;hall expire to all intents and purpo&s;es.</HI></P>
<P N="19">XIX. If <HI>Examples</HI> be of force, we have <HI>many</HI> of Compa|nies which had their Determination for publick good, though they reaped not what they &s;owed; which, if particular Inte|re&s;t mu&s;t be con&s;idered, will be found much &s;everer than to have this Ea&s;t <HI>India</HI> Company expire after &s;o profitable an enjoy|ment, and &s;o <HI>long.</HI></P>
<P N="20">XX. If the <HI>Trade</HI> of this <HI>Nation</HI> were Incorporated and <HI>con|tracted</HI> as this to <HI>India</HI> is, it would &s;oon <HI>peri&s;h,</HI> for that the whole then, in proportion to this, would inrich only 160 per|&s;ons, and maintain, as Adventurers or Traders, not above 2000. Now if &s;uch an Incorporating would have very ill Effect in the whole, the Contraction in this great Trade of Ea&s;t <HI>India,</HI> mu&s;t in &s;ome proportion be of ill effect to it, and as con&s;equent, on the Glory and Pro&s;perity of our Nation.</P>
<P><HI>To &s;hew that our De&s;ign is not to de&s;troy, we are ready, and &s;hall, if thought fit, publi&s;h a Form of Settlement agreeing with the above&s;aid Ends.</HI></P>
<TRAILER>FINIS.</TRAILER>
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