Chap. II. ■ The Riftory of the French Eaft-India Commerce , &c. 95 1 
Level, at leaft, with the Dutch Eajl-India Company, at 
its firft Eftablifhment. In regard to any . Objection that 
might be raifed from the various Difappointments which 
had overturned three feveral Companies already, it was 
obferved, that few, or no Undertakings of this Sort were 
attended with immediate Succefs. That the Spaniards fuf- 
fered greatly in their firft Expeditions to America , which, 
however, did not hinder them from perfevering in their 
Defigns by which they had acquired the Empire of the 
new World. That the Englijh Colony to Virginia had 
failed four or five Times, and yet was brought to Perfec- 
tion at laft ", and that even the Dutch Eajl-India Company, 
which fo much excelled all others, was far enough from 
being fortunate in its firft Beginnings. 
Thefe Principles being laid down, it was fhewn, that 
the I Hand of Madagafcar , a confiderable Part of which was 
then in the Poffeflion of the French , was a Country capa- 
ble of being improved to fuch a Degree, as to become 
of more Confequence, and of greater Advantage, than 
any of the Settlements poffeffed by the Dutch in the Eaji - 
Indies. In Support of this, it was faid, that no body 
would deny, that this Settlement was incomparably more 
commodious and more fecure than that of Batavia , in the 
Ifland of Java , which the Dutch had neverthelefs made 
the capital Refidence of their Company in the Indies. For 
with refped to the Commodioufnefs of the Place, the 
Country of Madagafcar was extreamly agreeable, the Cli- 
mate equally temperate and pleafant,and the Soil affording all 
the Neceffaries of Life, in the greateft Abundance, whereas 
the Territory about Batavia , was fo far from being fruit- 
ful, that the Company were obliged to procure from dif- 
tant Places, Rice, frefh Meat, and other Provifions, for 
twenty-five, or thirty thoufand People, which could not 
but be attended with great Difficulties, as well as with a 
vaft Expence. In refped to Security, it was well enough 
known, that only a fmall Part of the Eland of Java was 
in the. Power of the Dutch , and that the reft of the Coun- 
try, which was very large, and very populous, was inha- 
bited by a Variety of Nations, agreeing, however, in the 
Fiercenefs and Brutality of their Natures, and in a bigotted 
Zeal for the Mohammedan Religion, which made them 
hate and defpife all Chriftians to the laft Degree. That 
the Territories of the Dutch bordered on one Side on thofe 
of the King of Mataran , who had more than once in- 
vaded them at the Head of an Army of one hundred 
thoufand Men j that on the other, the City of Batavia 
itfelf, was but twelve Leagues diftant from the Domi- 
nions of the King of Bantam , who had like wife fhewn 
himfelf their powerful and inveterate Enemy ; whereas, 
on the other Hand, the Inhabitants of Madagafcar were of 
a mild and excellent Difpofition, and fo much inclined to 
receive the Dodrines of the Gofpel, that a Settlement 
confifting only of one hundred Men, would be in greater 
Security there, than a like Settlement even of a thoufand 
and upwards in the Ifland of Java. 
That befides all this, by fixing their capital Colony in 
Madagafcar , the French Company would be better feated 
for Trade than the Dutch in Batavia , becaufe it was equally 
convenient for carrying on the Commerce of the Red-fea, 
or of the Gulph of Bengal , and lay at the fame Time 
very properly for the Diipatch of Ships to China and Ja- 
pan, affording a convenient Place for re-fitting and refrefh- 
ing in their Return : In Reference to the Execution of a 
Projed which thefe Arguments were fuppofed to demon- 
ftrate probable and feafible, 
It was faid in this Memorial, that a Fund of fix Mil- 
lions, or fix hundred thoufand Pounds of our Money, 
would be neceffary in order to the equipping twelve or 
fourteen large Ships, from 800 to 1400 Tuns, in order 
to embark fuch a Number of Perfons for this Eland of 
Madagafcar , as might effedually, and at once eftablifh a 
confiderable Colony there. That there was no reafon to 
doubt, that his Majefty would advance a tenth Part of this 
Sum. That the Nobility and other Perfons of large For- 
tunes, would advance alfo the Sums requifite to let this 
Defign on Foot, and that as the king was willing to take 
a tenth Share in the fetting out, they had Reafon to ex- 
ped he would concern himfelf largely in future Expedi- 
tions, That as a farther Encouragement, he was willing 
3 
to grant the Company an Exemption from half their Duties 
both Inward and Outward, on all the Goods they exported to, 
or imported from the Indies 5 and over and above all this, his 
Majefty was content to take upon himfelf all the Lofs that 
might arife for the firft eight or ten Years, which was fuffici- 
ent to fhew, how much, and how fincerely he had this great 
Defign at Heart, and how willing he was to contribute to 
its Succefs. That as to private Perfons* they fhould be 
at Liberty to fubfcribe in what Proportions they pleafed* 
till the Fund was full ; after which, no farther Subfcrip- 
tions fhould be received on any Terms. 
That the king would not only permit Foreigners to take 
what Share they pleafed in thefe Subfcriptions, but to 
encourage them thereto, would likewife confent, that 
fuch as fubfcribed ten thoufand Livres (this was after- 
wards changed to twenty thoufand) or upwards, fhould 
thereby acquire the Right of Naturalization* without 
any farther Ceremony; by which their Relations, tho* 
Strangers, fhould be capable of inheriting their Effects in 
the Kingdom of France ; and farther, that in cafe of a 
Rupture with the State, to which fuch Strangers were 
Subjects, their Effects fhould never be liable to Confifca- 
tion, on any Pretence whatever. That the Affairs of the 
Company fhould be managed by their own Directors, cho- 
fen from amongft themfelves, in whofe Hands the Funds 
of the Company fhould conftandy remain, and that Fo- 
reigners fhould be capable of being eleded Diredors, pro- 
vided they were interefted in a reafonable Degree in the 
Stock of the Company, and refided in France. That in 
Point of Law Suits, the Company fhould be made as ea-* 
fy as poffible, and after being heard, in the firft inferior 1 
Court, near the Place where the Caufe of Adion arofe, 
they fhould be at Liberty to appeal diredly to the Par- 
liament. 
Such was the Memorial which this great Minifter caufed 
to be difperfed through all Parts of the Kingdom of 
France , in the Month of June , 1664, and upon which, 
the Edid for eftablifhing the Eajl-India Company, which 
ftill fubfifts, and which bears Date in the Month of Au- 
gujl, in the fame Year, was founded. We have been the 
larger and fuller in this Account, becaufe it anfwers two 
Purpofes ; for, firft, it clearly explains the Methods taken 
by this great Minifter to accomplifh what in his own Opi- 
nion appeared to be a moft difficult Undertaking, and 
next, it affords us an eafy, and at the fame time, a per- 
fed View of the principal Points upon which the prefent 
Eajl-India Company’s Eftablifhment refts ; for, tho’, as we 
fhall fhew in the Courfe of this Sedion, the royal Autho- 
rity has been often exerted in changing and new modelling, 
as the Circumftances of Affairs in general, and thofe of 
the Company in particular required, certain Articles in 
this Plan *, yet has it been always confidered as the Bafis 
and Foundation of their Privileges, and confequently it was 
neceffary to be well acquainted therewith, in order through- 
ly to underftand the iubfequent Hiftory of their Tran ft 
adions. 
But firft, it will be neceffary to obferve, that this Edid 
for the Eftablifhment of the Company, was digefted into 
forty-feven Articles, and that the Value of the original 
Adions (and by the Way, this was the firft Time that 
Word was ufed in France) was fix’d at one thoufand Li- 
vres, and the fubfequent Call reftrained to five hundred 
more, which Edid of Eftablifhment was regiftered in 
Parliament the 7th of Auguji 1664. 
4. As foon as this Edid was publifhed, his moft Chrift 
tian Majefty ordered the Sum of three hundred thoufand 
Livres to be paid out of the royal Treafury, into the 
Hands of the Cafhier of the Eajl-India Company, and 
M. Colbert, who had been fo warm and fo induftrious in 
bringing Things thus far, continued to apply himfelf with 
equal Attention to whatever might promote the Concerns 
of a Society, that he had taken fo immediately under his 
Protedion. The Affiduity of a firft Minifter in France 
is capable of putting any Thing into Motion, as appeared 
manifeftly upon this Occafion, fince in the following 
Spring, there failed four large Ships from Brejl for iMuda- 
gafcar, all of which arrived fafely there on the 10th of 
July . This new Colony changed the Name of the Place 
where they were eftabiifhed, horn Madagafcar to the Dau- 
, phins 
