ii6 A. D. 1600. 



when we firft began to make a figure in the commercial world, which 

 was near that period of time. 



Our own Turkey merchants firft, and the Dutch Eaft-India company- 

 next, who had got the ftart of us in the Eaft-India trade, keeping up 

 the price of pepper from 8/ to 4/ per pound, we being at war with 

 Spain, and fo could not get fpices from Liftjon at firft hand, Queen 

 Elizabeth now determined to enter her people direftly upon a commerce 

 to Eaft-India. 



Accordingly, on the 31ft of December 1600, ftie granted a charter to 

 George earl of Cumberland, and 215 knights, aldermen, and merch- 

 ants, that, at their own coft and charges, they might fet forth one or 

 more voyages to the Eaft-Indians, in the country and parts of Afia and 

 Africa, and to the iflands thereabouts, divers of which countries, iflands, 

 Sec. have long fithence been difcovered by others of our fubjedis ; to be 

 one body politic and corporate, by the naine of the * governour and 

 * company of merchants of London trading into the Eaft-Indies ;' to have 

 fucceftion ; to purchafe lands, without limitation ; to have one governor 

 and twenty-four perfons, to be eleded annually, who ftiall be called 

 committees, jointly to have the dire6lion of the voyages, the provifion 

 of the fliipping and merchandize, alfo the fale of the merchandize, and 

 the management of all other things belonging to the company. Sir 

 Thomas Smith, alderman of London, was to be the firft governor, and 

 a deputy-governor to be eleded in a general court ; both the governors 

 and all the committees to take the oath of fidelity : as alfo, every mem- 

 ber to take an oath, before being admitted, to traffic as a freeman of 

 this company. The company, their fons, at twenty-one years of age, 

 their apprentices, fervants and fadors in India or elfewhere, may, for 

 fifteen years from Chriftmas laft, freely and folely trade, by fuch ways 

 and paflages as are already found out, or fliall hereafter be difcovered, 

 into the countries and parts of Afia and Africa, and all the iflands, ports, 

 towns and places of Afia, Africa, and America, beyond the Cape of 

 Good Hope to the ftraits of Magellan, where any traffic of merchandize 

 may be uled to and from every of them, in fuch manner as fiiall from 

 time to time be limited and agreed on at any public aflembly or general 

 court of the company, any ftatute, ufage, diverfity of religion or faith, 

 or any other matter to the contrary notwithftanding ; fo as it be not to 

 any country already poflefi^ed by any chriftian potentate in amity with 

 her majefty, who fliall declare the fame to be againft his or their good 

 liking. Either the governor or deputy-governor muft always be one in 

 general aflemblies, when they may make all reaibnable laws, conftitu- 

 lions, &c. agreeable to the laws of England, for their good government, 

 by plurality of voices, and may punifti, by fines and imprifonment, the 

 i)ffenders againft their laws. The queen grants to the company an ex- 

 e^mption from paying any cuftoms for the firft four voyages; and for 



