A. D. 1 691. 649 



their charter, and to incorporate a new one. Tlie king's anfwer was, 



* that, it being a matter of very great importance, it required fome 

 ' time to confidcr their addrefs.' In the meantime he referred it to a 

 committee of the privy council ; whereupon the company did, in writ- 

 ing, declare their fubmiflion to fuch regulations as that committee of 

 council fhould prefcribe ; which were in liibftance, that their capital 

 ftock fliould be made up Li, 500,000 at leaft, but not to exceed two 

 millions; of which the prefent company's capital of L74o,ooo was to 

 conflitute a part : and the prefent company, jointly with the new fub- 

 fcribers, {hould be incorporated for twenty-one years *. 



The government of New-England, flill finding the French in Canada 

 very troublefome neighbours, fent out a fleet of 32 fail, v/ith 2000 

 land forces onboard, to attack Quebec ; but being eight weeks in 

 failing up the river of St. Laurence, they thereby gave time to the 

 French to bring all their flrength to Qijebec ; before which place, our 

 people being repulfed, they were obliged to re-embark, many of their 

 fhips in coming down that river were wrecked or loft ; and when 

 2000 Englifh and 1 500 Indians had marched over land from New- 

 York, Connecticut, &c. they found no canoes to tranfport them over the 

 lakes ; they were therefor likewife forced to return home. In this un- 

 fortunate and ill-conduded expedition, the province of New-England 

 contraded Li 40,000 debt ; and there were faid to have been 1000 lives 

 loft, one way or other. 



1 692. — We ftiall now give the Englifti Eaft-Tndia company's vindication 

 of themfelves, by way of reply to the regulations propoled by the com- 

 mittee of the privy council, at the clofe of the preceding year, viz. 

 ' that their prefent quick and dead ftock and revenue are really worth 

 ' more than Li ,500,000-1-, the prefent current price of their capital 



* ftock at market being 150 per cent : that they knew no law nor rea- 

 ' fon for their being thus difpoftefled of their eftates at an undervalue : 

 ' that their forts, towns, and territories in India are theirs for ever by 



* their charters, and have coft them, firft and laft, above a million fter- 

 ' ling : that all the other propofed regulations are better provided for 

 ' by their prefent charter than they can be by any new one, &:c.' [j4c- 

 connt of fome tranfnEtions in the houfe of commons and before the lords of the 

 frivy council, relating to the late Eajl-lndia company, quarto, 1693.] 



The anfwer given by the king this year to the addrefs of the com- 

 mons, for ciiflblvhig the Eaft-India company, was, in fubftance, that, 

 upon due confultation, he found he could not diflolve the company in 

 lels than three years warning; during which time they could not be 

 hindered from trading, nor could a new company trade, till thofe three 

 years were expired ; that the company having rcjeded moft of the re- 



* The company's anfwer nnd vindication will be found under the next year, yi 



+ Qiiick (lock comprehends flu'pa and mtrchandize ; and dead ilock, forts, faftories, houfes, &c. jf. 



Vol. II. 4 N 



