A. D. 1628. 



^53 



well merits confideration that there are three different fpecies of profit 

 in foreign commerce : ift, the merchant may be a lofer when the na- 

 tion may be a gainer by this traffic : for inftance, the company Ihall 

 fend out goods or money to the value of Lico,ooo and bring home 

 L300,ooo value in return ; yet though this return trebles the public 

 ftock, the company may neverthelefs be lofers, if the goods in return be 

 fo bulky as to occafion fo much freight of fhipping, infurance, cufloms, 

 and other charges, as amount to L200,ooo, which added to the princi- 

 pal of Li 00,000 will make the company lofers, although the nation may 

 be gainers by the additional L2CO,ooo ; 2dly, the merchant may be a 

 gainer by a lofing trade to the nation, if our imports exceed our exports 

 in the general balance ; and laflly, the king may be a gainer in his 

 cuftoms, when both the merchant and the nation may be lofers by feme 

 trades. 



III) The next two articles, viz. the company being a means to weaken 

 the king of Spain and his fubjeds, and to exhaull: their treafure ; and their 

 counterpoinng the fwelling greatnefs of the Dutch, and keeping them 

 from being abfolute lords of the feas, if they could drive us out of this rich 

 traffic, as they have long endeavoured to do, both by policy and force, 

 were confiderations fuitable to that age alone, and therefor not nov/ to 

 be regarded. 



IV) To the common objedion that the Eaft-India trade exhaufls our 

 treafure (which objection was made fo early in Spain as the reign of the 

 emperor Charles V) the company replies that this trade is fo far from 

 doing it, that, with refpeft to their carrying it on, it is the beft means 

 to increafe the treafure of this kingdom : for they receive a greater 

 balance in ca(h by the vafl; quantity of Eaft-India merchandize re-ex- 

 ported to other countries than the fums fent out to India; befide em- 

 ploying mucli ihipping and many iailors therein, &c.: all which the 

 company fubmirted to that honourable houfe. But the fudden diflblu- 

 tion of the parliament prevented their taking this remonflrance into 

 their confideration ; and the company contmued to carry on their trade 

 to India, though with various fucceis. 



This piece being one of the moft authentic and judicious vindica- 

 tions of our Eafl-lndia trade, we have made the larger extract from it, 

 as it may hereafter fave the trouble of exhibiting the fame fort of an- 

 Iwers to future objections concerning it. It Vvas fo well efleemed as to 

 be afterward reprinted in the year 1641 : yet we muft here in point of 

 juftice remark, that in that whole piece there is not the leaft mention of 

 the company's being a monopoly, although that vvas then one of the 

 objedions againfl: it. The company's filence on that tender point was 

 probably the effed of their great prudence, as not being able in that cri- 

 tical time to fansfy the houfe of commons concerning what they were 

 then loudly complaining of in general, both within :uid without doors. 



Vol. II.' " ^ Y y 



