A. D. 1769. 487 



1^69 — Mr. Bougainville, who in November 1766 had failed by order 

 of the king of France on a voyage of difcovery, arrived at St Malos 

 (14''' March), after having made a fmall fettlement at Falkland's iflands, 

 (called by the French les Malouines), and made a circuit of the globe, 

 in the courfe of which he difcovered many iflands hitherto unknown. 



March — The mines in the neighbourhood of Newcaflle were now fo 

 judicioufly managed as to be very productive of the pretious metals. As a 

 proof of this, a mafs of fdver weighing 31 1 pounds, and another of pure 

 gold weighing 18 pounds, were delivered from a refinery near that town. 



As the time was near at hand, when the annual payment of ^^400,000 

 to government by the Eaft-India company, and alio the parliamentary 

 reftridlion of the dividends, would expire, the company, plainly perceiv- 

 ing, that the large fum exadled from them would thenceforth be con- 

 lidered by adminiflration as a part of the regular revenue, were now 

 only defirous of being gratified with feme compenfation for, what they 

 deemed, fo great a facrifice. They therefor requefled of government 

 to prolong their charter for five years ; but it was abfolutely refuied, 

 and the company were more than ever made fenfible, that they were 

 entirely in the hands of a fuperior power, to whofe will there was a ne- 

 ceflity of lubmitting. After holding feveral general courts, and much 

 correfpondence between adminiftration and the company, the following 

 agreement was confirmed by parliament. 



April 20'^ — The Eaft-India company became bound to pay to the 

 public ^(^400,000 annually for five years to come. They were permit- 

 ted to increafe their dividends, at a rate not exceeding One per cent each 

 year, till they fliould be railed to 'Twelve and a half per cent, wliich they 

 muft never exceed. Should the company, inftead of increafing, be 

 obliged to reduce, their dividends, a proportional dedudion was to be 

 made from the fum payable to government, which was to be entirely 

 given up, if the company fhould be obliged to reduce their dividends to 

 Six per cent. Daring the five years the company were obliged to export 

 Britiih goods equal in value to the average amount of thofe they ex- 

 ported in the laft five years. And if any cafli {liould remain in their 

 treafury, after the payment of certain fpecified debts, they were bound 

 to lend it to the public at the interell of two per cent. [9 Geo. III. c. 



24-] 



The ad tor encouraging the coinage of nioney was made perpetual, 

 [9 Geo. III. f. 25.] 



The permillion to carry rice from the two Carolinas and Georgia to 

 any places fouth of them, and to places in Europe fouth of Cape Finil- 

 terre, was prolonged to 24'*" June 1774. [9 Geo. lll^ c. 27.] 



May i" — In confequence of the petition of the mcrchantsof Jerfey and 

 Guernfey concerned in the Newfoundland filhery, they were perniitte*! 

 to export from their iflands to Newfoundland or the Britifli colonies in. 



