152 A. D. 1730. 



• for driving them out of this trade to lay it open to all our people.' 

 Thefe, and many other arguments, (fome of which were at leaft incon- 

 clufive, if not fallacious) were keenly urged, both within and without 

 doors, and were fupported by many eminent merchants. Laftly, for far- 

 ther corroborating the oppofition to the bill for prolonging the Eaft-India 

 company's privileges, three feveral petitions were prefented to the houfe 

 of commons; the firfl from the merchants, traders, &c. of London, in 

 behalf of themfelves and all other his majefty's fubjecSls ; the fecond 

 from thofe ofBriftol; and the third from thofe of Liverpool: all to 

 the fame efFedl, viz, againfl confirming the exclufive trade to India to 

 the prefent company alone : and, for obliging that company to grant li- 

 cences to the refl of his majefty's fubjeds to trade thither, under proper 

 terms and conditions : alfo praying to be heard by their counfel at the 

 bar of the houfe, againfl paffing the bill : which petitions were all re- 

 jeded. 



On the other hand, it is but juftice to the prefent Eaft-India com- 

 pany, to exhibit the principal points urged by them in their own be- 

 half, viz. 



At prefent it feems to be agreed on all fides, that the Eaft-India trade 

 is a beneficial one to this nation, and confequently is neceflary to be 

 preferved. But the main queftion is, which is the beft method to pre- 

 ferve it to us, viz. whether by a company vefted with exclufive privileges 

 and regulations, fuch as the legiflature fliall from time time to dired; 

 or, whether the trade (hall be left quite open to every adventurer, who 

 fliall pay for a licence from this company ? 



It is but too probable, that the prefent great oppofition to the com- 

 pany proceeds, in a great meafure, from the great gains which they 

 make : for their enemies are forced to go back almoft forty years to 

 fearch out former mifmanagements ; having nothing to allege againft 

 their prefent condud. 



The company at prefent employ a vaft ftock in trade, their fales 

 amounting to about three millions yearly. And the cuftoms accruing 

 to the public are prodigioufly great, and anfwer the appropriations made 

 of them by parliament better than moft other duties ; they bringing in 

 net money, clear of all drawbacks and debentures, three hundred thou- 

 fand pounds yearly. Would it then be prudent in the legiflature to let 

 thofe cuftoms fall without a certainty of at leaft as much in the room 

 of them ? 



The forts and fadories at prefent coft the company L300,ooo yearly ; 

 and doubtlefs the government could not maintain them for fo little. 

 Thofe forts and other buildings are unqueftionably the property of the 

 company, who adually purchafed them of the old company, and are of 

 very great value. Who, then, fliall fet an equitable price on them ? 

 What certainty have the government, when they are in their hands, that 



