THE WEST INDIA COMPANY AND THE WAL- 

 LOONS. 



[Read before the Albany Institute, March 30, 1888.] 



In the discussion of this subject it makes but little difference 

 whether this great river of the North as it was called, was first discov- 

 ered by a Florentine captain in a French vessel, or by an English cap- 

 tain in a Dutch vessel ; it will answer our purpose to start with the 

 fact that the Dutch vessel under its English captain sailed up this 

 river in 1609 as far as where this city stands; and the territory being 

 claimed by the Dutch, they held it against all other claimants 

 as long as it was possible for them to do so. Their great power at this 

 time was the West India Company, and if we would rightly under- 

 stand this early history we must know something of the formation 

 of that company, its purposes and designs. 



The West India Company was a monstrous monopoly. We are ac- 

 customed to think that the present day shows us the most powerful 

 and grasping corporations the world has ever seen, and as our present 

 organizations add one source of traffic or travel after another, to the 

 great and vital interests they already control, we are possessed hy a 

 feeling somewhat akin to fear, as we wonder what the outcome of such 

 gigantic schemes will be. But in absolute governing power over terri- 

 tory, as well as executive power over the individual, this corporation of 

 the seventeenth century would put to blush any thing the nineteenth 

 century has ever seen. It may even be doubted whether more capital 

 was employed, if we take into consideration the difference in money 

 value of two centuries ago; while the powers given under the franchise 

 were far greater than could be obtained now from any Legislature, 

 no matter how venal, or from any executive no matter how corrupt. 

 And first we notice that the charter of this company was granted by the 

 States General, and that its privileges were to enure to the benefit of 

 those who subscribed to its stock. It was formed just as a bank or 

 insurance company was formed before the passage of the general law 

 applicable to such corporations; the charter was obtained from the 

 legislative power, and then the books were opened for subscriptions to 

 the stock. When the subscription books were closed on the 21st of 



