A. D. 1677. 589 



the flock was really worth 130 percent; though fuch were then the 

 humours and fancies of people, that it was actually fold at about 70 per 

 cent. Yet fince then the value of the ftock has advanced to 245 per 

 cent. 



From this Ihort view of things (fays our author), I leave it to the 

 confideration of all judicious perfons, whether it be not inconfiflent 

 with the kingdom's intereft, and irrational and unjufl, to lay open the 

 Eaft-India trade. Inconfiflent with the public interefl, to part with or 

 hazard the lofs of all thofe places of flrength, and thofe privileges the 

 company enjoys, but which cannot be maintained in an open trade ! 

 Irrational, to make a fecond trial, after fo many inconveniences expe- 

 rienced by the firfl ! and unjufl, to deprive the prefent fubfcribers in 

 the Eaft-India ftock of their future advantages, who have run fo many 

 hazards, and been at fuch vaft expenfes, for promoting and fecuring the 

 trade ! 



With refped to what the barrifter's letter alleges, viz. that the Eaft- 

 India trade fhould be managed by what is called a regulated company, 

 as our Turkey trade is ; it certainly cannot be fo well fecured and im- 

 proved for the kingdom's advantage by a regulated, as by a joint-ftock, 

 company ; for the following reafons : 



ift, Almoft every place in India is under a diftind raja or king : and 

 coniidering that other European nations are ftill watching all opportu- 

 nities of inftilling into thofe rajas contemptuous thoughts of the Eng- 

 lish for their own ends, this renders it abfolutely necefliiry to have fre- 

 quent applications to, and treaties with, thofe kings ; and that the Eng- 

 lifli flaould appear to them with fome port and grandeur, as being able 

 to carry on a confiderable trade with them, and to force them to a per- 

 formance of their treaties and agreements. The ftate of affairs in Tur- 

 key is far otherwife, where there is but one prince with abfolute domi- 

 nion : fo that, by one ambafllidor at court, and two or three conluls at 

 refidences of commerce to hold correfpondence with him, all matters 

 for the fecurity of the trade niay be tranfadted. 



All which being duely premifed, all well-wifliers to England, it is 

 prefumed, would defire to have the forts, fadories, and privileges, in 

 India, which, by the prefent joint ftock of the Eaft- India company have 

 been obtained, purchafed, and fettled, at the expenfe of perhaps 

 L30o,ooo (and whereof the proprietors of the faid joint ftock are at 

 prefent the owners and poffeftbrs), to be maintained and prcferved to 

 our nation ; as alio, that the faid places of ftrength, houfes, and privi- 

 leges, being juftly the property of the faid joint ftock, they ought not 

 to be divefted thereof without an equitable compcniation, even as much 

 as if it were within the kingdom of England. And that the fucceed- 

 ing trade to India fliould both give fuch compenfation and maintain 

 the growing charge. And as the prefent deiign of fome is, that the 



