6o4 ^^" ^' 1 68 1. 



trade, every adventurer hath as full a liberty, in proportion to his ftock» 

 as the governor, deputy, or any of the committees, the fame being not 

 to exceed one fifth part of his ftock ; and even that has been gradually 

 I'cduced every year, though per faltum it cannot be done, it not being 

 the work of a year, nor even of an age or two, to build up an Ea/l- 

 Jndia trade to perfetTion, though it may be deftroyed in a day. This 

 truth is mofl eminently vifible in the proceedings of the king of France, 

 who fpared no coll to obtain the befl advice in Europe, by immenfe re- 

 wards, premiums, &c. for the conilitution of his Eaft-India company ; 

 and yet we fee, that company makes very little of it : and even our own 

 company, although they had formerly a ilock of Li, 500,000 flerling, 

 advanced no farther in profits than 1 2^ per cent in fifteen years, i. e. 

 from 16 17 to 1632. 



Though, inftead of eighty votes alleged to be now pofl^eiTed by fome 

 one fing-le perfon in the choice of the committees, we know of no one 

 that has fixty votes, yet it is mofl reafonable, and has ever been prac- 

 tifed both in ours and in the royal African company, and every other 

 joint flock, that each adventurer fliould vote according to his flock. 

 Even fince this complaint, which was firfl flarted about nine years ago, 

 there have been more great Ihips built by the company than were in 

 thirty years before, and alfo more woollen manufadures exported : and 

 the Dutch Eafi-India flock, which was at 580 per cent when ours was 

 but at 60 per cent, has fince ftood flill, or rather declined, while ours 

 has advanced, fo as almoft to equalize theirs in value : and his majefty's 

 cuftoms are alio more than doubled from our Eafl-India trade. The 

 company has alfo made many generous, chargeable, and fuccefsful, at- 

 tempts for obtaining a trade to Siam, Cochin-China, China, and Japan. 



Ill) I. Our Eafl-lndia fi:ock now in trade is at lead Li, 7 00,000 clear 

 of all our debts. 



2. Our debt at intereft is about L55o,ooo, and has been reduced from 

 6 to 3 per cent : and fuch is the company's credit, that they cannot per- 

 fuade their creditors to take their money. 



3. And your lordfliips, in the houfe of peers, did formerly refolve, 

 that the abatement of interefl: tended to the increafe of trade and the 

 advancement of the value of the lands of England. 



With refped- to the Turkey company's objedions againfi: the Eafl- 

 iddia company's importations of raw filk, plain wrought filk, and 

 wrought filks mixed with gold and filver, we fciy, 



1. As for raw filk, it is fo efl^ential for the good of the kingdom, that 

 it may well held comparifon with our flieeps wool and cotton wool. 



2. Since our importation thereof our filk manufadures have increaf- 

 ed from one to four. 



3. With rcCped to the quality of our India iMw ftlk, it is the fmie as 

 with all other commodities on earth, fome good, fome bad, and fome 

 indiflerent. 



