Attempts to Form Chartered Companies. 21 



offered to the solicitors of the patent, who responded with a 

 memorial, purporting to represent "some hundreds of gentle- 

 men, merchants, traders and others — subscribers toward the 

 copper mines, etc." They set forth the advantages of a corpo- 

 ration over private individuals, and they answered the objec- 

 tions of the New Englanders that their trade would be inter- 

 fered with, by affirming that, on the contrary, it would be in- 

 creased. In the former trade, it was a few merchants that had 

 raised the prices of English goods and driven the common peo- 

 ple to attempt manufactures, because they could not afiford to 

 buy at such high prices. Moreover, some of the original pro- 

 moters of the present scheme were men who might be supposed 

 thoroughly to understand the interests of the country. Twenty- 

 five years ago, the New Englanders had found it much to their 

 advantage that an undertaking of this nature should be carried 

 on. They had, in fact, by act of the Assembly given sole 

 license and power of producing the same commodities to two or 

 three merchants, excluding all others, — a much greater privi- 

 lege than the present subscribers desired. Further, they could 

 not learn that any of the many patents granted within the last 

 few years had been clogged with such provisos, conditions and 



conditions following, i. e., that in case any members of the said Cor- 

 poration, or Body Politique hereby constituted, or any person or 

 persons whatsoever having or that shall have any part, share or in- 

 terest in the Joint or Public Stock of the said Company (other than 

 and except Executors and Administrators in right of their executor- 

 ships or administratorships only) shall at any time or times within or 

 during space of five years, to be computed from date of these pres- 

 ents, sell, alien, transfer, assign or any way depart with such, his, 

 her or their share or interest in the said Joynt Stock or any part 

 thereof unto any other member or members of the said Company, or 

 to any other person or persons, bodies politique or corporate, that 

 then in each and every case and as often as such alienations, assign- 

 ments, etc., which shall happen within or during the said five years, 

 all and every part share and interest of or in the said Joynt Stock so 

 alienated, etc., shall from the time of such alienation *** become for- 

 feited unto etc., etc." The king, if he chose, might under a specially 

 recorded contract permit transfers after five years. 



