A. D. 1693. ' 653 



by two royal charters : the firft of which was on the nth of November 

 1693, in fubftance as tollows, viz. 



' I) All fubici-ibers fliall be members of the company. 



' II) L744.,ooo fliall be the whole capital of the company. 



' III) None fliall iubfcribe above Li 0,000. 



' IV) In general courts Liooo Itock fliall have one vote j and none 



* fliall have above ten votes. 



' V) Such as fliall become proprietors by purchafe, fliall pay for their 

 ' freedom L5. Who (as alio the new fubicribers) Ihall take the oaths 



* appointed by law, and alio the freeman's oath. 



' VI) The governor, or, in his abfence, the deputy-governor, to have 



* a cafl:ing vote in all courts ; each of them to have L4000 in their own 



* right' and each committee-man Liooo *. 



' VII) No permillion fliall be granted for fliips to India on a private 



* account, on the penalty of forfeiting the charters. 



' VIII) No private contrad is to be made, for fale of the company's 

 ' goods, (faltpetre only excepted, fold for the king's ufe.) But all to be 

 ' openly and publicly fold. And no one lot (jewels excepted) to ex- 



* ceed L500 value. 



' IX) The company fliall annually export to India, of the growth and 



* produd of England, to the value of at leafl; Lioo.coo. 



* X) The company fliall annually fupply the crown with 500 tons of 

 ' faltpetre, at L38 : 10 per ton in time of peace, and at L45 in time of 

 '' war. 



' XI) All dividends of the company's profits fliall, for the future, be 



* made in money only. 



' XII) A book fliall be hereafter kept by the company, wherein the 



* value of their flock fliall be entered, as attefl;ed upon oath, to be view- 



* ed by all concerned ; and the like as to all mortgages, alienations, 

 ' transfers, and aflignments. 



' XIII) The joint fl:ock of the company fliall continue for 2 1 years : 

 ' and one yeaj- before its expiration, books fliall lie open for new fub- 

 ' fcriptions to a new jotnt fl:ock.' 



In an adl of parliament for regaining, encouraging, and fettling, the 

 Greenland trade, it is obferved, that the trade to the Greenland leas, in 

 the fifliing for whales, had heretofore been very beneficial to England, 

 both in refpeft to the employment of feamen and fliips, and the con- 

 fumption of great quantities of provifions f , as alio in the imporiaiion 

 of great quantities of oil and whale-fins ; yet that this trade had been 

 wholely lofl; to the kingdom, and could now no othcrwiie be revived 

 than by united endeavours in a joint llock : ' wherefor this acl incor- 

 ' porates Sir William Scawen, and forty-one perlons more, to be a cor- 



* The committee-men are now called direftors. 



•}• How different is this ftile from the proclamations of King James and King Cliarles I \ ^. 



3 



