586 A. D. 1776. 



1776 — About the beginning of the year 1776 a worthy citizen of Lon- 

 don, who had unfortunately failed in bufinefs fome years before, and had 

 now, by the blefling of God upon his honeft induftry, again got above 

 the world, called a meeting of his creditors, and honourably paid them 

 every fhilling he owed them. The name of this honed man, though 

 unknown to me, defei-ves to be enrolled in the temple of Virtuous Fame, 

 along with that of Sir Stephen Theodore Janflen, whofe condud I have 

 already gratified my feelings by makmg honourable mention of in the 

 tranfacftions of the year 1765. 



The 20''' of January was the day appointed by the congrefs of Ame- 

 rica, if the obnoxious adls of the Britifli parliament fliould not then be 

 repealed, for difcharging all the officers of the cuftoms acling under 

 authority derived from the Britifh government, and for opening all 

 their ports to the fhips of all nations, who fhould be defirous of trading 

 with them, for the reception of all merchandize, except teas and the pro- 

 duce and manufacture of Great Britain, Ireland, and the Britidi Weft 

 Indies*. And, in order to encourage foreigners to refort to their ports, 

 they declared, that, in cafe of a reconciliation with Great Britain, they 

 fhould, notwithftanding, remain open to them for two years after it. 



March 3^ — The illand of New Providence was taken by an American 

 fquadron, confifting of two frigates and five fmall veflels from Phila- 

 delphia, commanded by Commodore Hopkins, who immediately quit- 

 ted the place without leaving any garrifon to keep pofleflion, and car- 

 ried off the governor with him. 



At a court of proprietors of Eaft-India ftock it appeared, that the 

 loan of ;^i, 400,000, granted by government to the company, was now 

 reduced to the fum of ^^420,000 ; and that the affairs of the company 

 were in general in a profperous condition. 



Very different was the fituation of the Dutch Eaft-India company. 

 Their charter had expired in the year 1773, and the States-general had 

 then given them a fhort renewal of three years, in order to have time 

 to inveftigate the juftice of the plea fet up by the company for a dimi- 

 nution of the fum they ufed to pay for a renewal, on account of the 

 declining ftate of their trade. Having found upon an inveftigation, 

 that the company had adually fuftained very great lolTes, whereby their 

 circumftances and their trade were greatly reduced, the States-general 

 granted them a new charter for thirty years, on paying two millions of 

 florins (inftead of three millions paid for the former charter) and a year- 

 ly payment of 360,000 florins, which they were indulged with the li- 

 berty of making either in money or goods. Immediately after the 

 renewal of their charter the price of their ftock rofe nineteen per 

 cent. 



* We (hall have occafion to fee, that thefe exceptions were not very ftrivSlly adhered to. 



