6o2 A. D. i68r. 



gul's {hips trading to Arabia, Perfia, 8cc. that quarrel cofl the company 

 in all about L 8 00,000. 



Upon the whole, it is humbly hoped, that for relief of the now-lan- 

 guifhing, though moft ufeful and neceflary, Turkey trade, his majefty 

 will be gracioullypleafed to permit to the Turkey company the exercife 

 of trade in the Red fea, and all other the dominions of the grand fig- 

 nior, (i. e. Arabia and part of Africa) according to the large extent of 

 their charter, and accefs thereunto, by the moft convenient paflages, 

 i. e. round by the Cape of Good Hope. 



More reafons againft the management of the Eaft-India trade, under 

 the prefent joint ftock. 



I) The continuance of the ftock, which has now lafted 24 years, 

 (i. e. from 1657) is againft their firft propofal in their preamble, where- 

 by it is agreed, that at feven years end, the ftock ftiould be balanced 

 and divided, and a new fubfcription made : and that any perfons, at 

 the faid feven years end, might go out or come in upon a valuation 

 then to be made known : though no fuch thing be hitherto done. 



II) They have fent over to India, throwfters, weavers, and dyers, and 

 have adually fet up there a manufadure of filk, which, by inftruding 

 riie Indians in thefe manufatlures, and by importing them fo made in- 

 to England, is an unfpeakable impoverilhment of the working people 

 of this kingdom. 



III) Though many of the firft fubfcribers have died off, yet there is- 

 no liberty for young merchants to come in on anew fubfcription. 



IV) The fo long continuance of the ftock is alio a reafon that its 

 whole management is fallen into fo few hands. 



V) They export great quantities of bullion, and a fraall quantity of 

 cloth. 



VI) Of the 550 who are members of the company, not above one 

 fifth are merchants, and as thefe laft are always of the committee, 

 hence it comes to pafs that many of the choiceft goods are lent home 

 on their private account, but feldom on account of the joint ftock. 



VII, VIII) As their prefent ftock is too fcanty, fo new fubfcriptions 

 for two or three millions would bring in more merchants, as well as 

 more money to be employed, and alfo more fhips and mariners. At 

 prefent they trade not at all to Perfia, Japan, Arrachan, Acheen, Su- 

 matra, Pegu, Madagafcar, and many other places within the limits of 

 their charter, though fuch places, if traded to, would not only take off 

 much of our Englifli commodities, but likewife by trading there from 

 one port to another, would vend a large proportion of Indian commo- 

 dities, and the profit and bullion arifing thereby would, in a great mea- 

 fure, if not totally, prevent the exportation of bullion out of England. 



IX) Laftly, the lenders of fo large a dead ftock as above, L6oo,ooo, 

 at fo low an intereft as 3 per cent, venture the hazard of their princi- 



