A. D. 1677. ^gi 



ny, even with fo great a joint flock, have in vain made frequent trials 

 to gain thofe trades : yet, with China, the company, after many at- 

 tempts and expenfes, are in hopes to fucceed ; but, with refped: to 

 Japan, only one undertaking for the gaining the trade to it proved in- 

 efFedhial, with the lofs of no lefs than L5o,ooo, which great fum 

 would have undone private adventurers. As to what our barrifter fug- 

 gefts, that a regulated company would advance the price of our manu- 

 factures by the multitude and freedom of buyers, and alfo lefTen the 

 price of goods imported to the Englifli, &c. upon a due and ferious 

 examination, it will be found, according to the true maxims of trade, 

 and didates of reafon, to be quite otherwife. For, who is there that 

 hath in any competent degree ftudied and confidered trade in reference 

 to the kingdom's intereft, but knows that all buying and felling at home 

 from one to another is but a mere changing of hands, neither add- 

 ing to, nor diminilhing,the nation's flock or wealth. It is dear felling, 

 or rather the felling of great quantities of our native commodities and 

 manufaclures, in foreign parts, and our cheap purchafing of commodi- 

 ties in foreign countries, whereby our kingdom is enriched. For if we 

 do but confider the confequence of this barrifler's pofition, it will clear- 

 ly appear, that particular Englifhmen, traders to India, vying upon one 

 another in the buying of cloth, &c. in England, may for a year or two 

 raife the prices in England ; and, on the other hand, they may lower 

 the prices and underfell one another, to get off their goods in India, 

 and make returns ; fome, perhaps, felling cheaper than the prime coft, 

 whilft others may not be able to put off their goods, and fo perhaps let 

 their fhips return dead freighted, &c. What probability is there then 

 of their continuing to fend any thereafter, or that the exportation of 

 our Englilh manufactures fhould increafe ? whereas the prefent joint- 

 flock company have fo well managed their trade, that from one hun- 

 dred to four hundred cloths at moft, formerly exported, they now an- 

 nually export four thoufand whole broad cloths and upwards. And 

 with refpect to goods imported from India ; the multitude of buyers in 

 India railing the prices there, and of fellers in England lelTening the 

 prices here, cannot but be very contrary to the kingdom's interefl. Be- 

 caufe not above one fourth part of the India goods imported are con- 

 fumed in England, the other three fourth parts being exported to fo- 

 reign parts. Now, if the prices of what is confumed in England be 

 lowered, the like mud inevitably follow for the other three fourths ex- 

 ported : fo that the nation really lofes by the cheap felling of India 

 commodities in England, and our real interell is to buy cheap in In- 

 dia, and fell dear in Europe. With refped to the building of fliips of 

 great burden, fo much for the public interefl, it cannot be imagined 

 that private perfons can eflfedt the fame in proportion to what the joint- 

 ilock company has done. 



