Chap. II. Fhe Hijiory of the French Eaft-India Commerce^ &c. 961 
the Affairs of the Company, that which, of all others, 
they have managed with the greateft Addrefs ; for by 
this Means they have gained Time, which, in fuch Af- 
fairs is all Things, and by affording the Company fuch 
Sums of Money as could be fpared j and at the Seafons 
they could fpare it, they have revived the Eafl- India 
Trade, kept it conftantly and regularly on Foot, put all 
the Company’s Debts in a Train of Payment, relieved 
and replaced all her FaClories j and if this War had not 
broke out as it did, would very foon have placed her, as a 
Trading-Company, in as fair and good a Condition as, 
for many Years, (lie has flood in, confidered in her other 
Capacity as a Corporation of publick Creditors. This 
has been generally attributed to the wife and peaceable 
Adminiftration of the late Cardinal Fleury , but was no 
otherwife due to him than as he continued the Direction of 
thefe Affairs in the Hands of Mr. Orry, who has had the 
entire Management of them for ten Years paft*, in which 
Time he has done more Service to this Nation, than all the 
Statefmen and Generals that have been employed in this 
Reign ; and though it has fo fallen out of late, that his 
Method has been interrupted and thrown into Diforder, 
yet we fhall prefently make it appear, from the Confidera- 
tion of the prefent State of the Company, that he has 
overcome the greateft Difficulties, and put her Concerns 
into fuch a Channel, as muft ftrike all who attentively weigh 
the Particulars, [which we fhall impartially relate with 
Amazement and Surprize. 
But, before I quit this Part of my Subject, I muft 
again remind my Reader, that all this Succefs has been 
owing to the Firmnefs and Steadinefs of the Adminiftra- 
tion, for fo many Years, flowing in fome meafure from 
the King’s Temper, in fome meafure from the long Life 
of the late Cardinal, and from a Variety of other Cir- 
cumftances, that demonftrate the commercial Intereft of 
France to be continually liable to Accidents, and to be 
confequently always in a precarious Condition. I do not 
fay this with any Intention of leffening our Jealoufy of 
the French Traffick, which I acknowledge to be extremely 
reafonabJe and well founded ; but, for the fake of Truth, 
and that Things may appear to be as they really are, which 
I think the moft likely Way to enable us to judge of what 
will be moft for our Intereft and Advantage. 
I may likewife add, that by proving, as I have done, 
that this is truly the Cafe, it will afford great Encourage- 
ment both to the Government and People of Great-Bri- 
tain , to purfue whatever rational Schemes fhall be offered 
for promoting and extending our Commerce, fince our 
Situation is fuch, that we need only the Countenance of the 
Legiflature, and the Repeal, perhaps, of a very few Laws, 
which reftrain and cramp our Trade, to be able to under- 
take new Branches of Commerce, which muft neceffarily 
increafe our Seamen, augment our Shipping, carry off 
our Manufactures, and by reviving a Spirit of Induftry, 
find Employment for all our People, which would effec- 
tually root out factious and feditious Humours, and find 
fomething elfe for the meaner Sort of Folks to do, than 
to rail at, or refill the Government. But if we negleCl 
the Advantages we have, and the French ffiould grow 
wife enough to refolve upon keeping upon fair Terms 
with their Neighbours twenty or thirty Years, they may 
go near to fhew us within that Time, that in lpite of all 
the Difficulties they ftruggle with, their Company of the 
Indies may be put into fuch a Condition as will enable her 
to put in for a large Share of that Trade, which by being 
hitherto engroffed by us and by the Dutch , has obtained 
and fecured the honourable Title of a Maritime Power , 
which, as it was acquired by, will certainly be loft with 
our Trade. 
13. The Capital of the prefent Company of the Indies , 
was, as we have before obferved, compofed of the ori- 
ginal Capital of the IFeftern Company, and of twenty- 
five Millions added thereto, upon the Union of the Eajt- 
India Company therewith •, but after the Ruin of the Sy- 
ftem, when all Things fell into Confufion, it was found 
requifite, in order to reftore them, that the King fhould 
make a Revifion of the AClions poffeffed by the Pro- 
prietors of this Company, in order to diftinguifli be- 
tween fuch as had acquired their Property fairly, and by 
- Numb, LX VI. 
Purcbafe ; and fuch as had thruft themfelves into the 
Company’s Books only to ferve their own Purpofes by 
ftock-jobbing. It was in Confequence of this Revifion, 
that by an EdiCt in the Year 1723, the King fixed the 
AClions of this Company to fifty-fix thoufand, and which 
formed a Capital of One hundred and twelve Millions ; for 
their Dividend upon which, they had a yearly Revenue 
afligned them of Eight Millions four hundred thoufand 
Livres. By another Arret in 1725, Five thoufand of 
thefe AClions were cancelled and burnt ; fo that the Ca- 
pital of the Company, by this means, was reduced to 
Fifty-one thoufand AClions, and their Dividends fecured 
by the annual Payment of Eight Millions from the Farm- 
ers-generai of the Farm of Tobacco, the excliifive, per- 
petual, and irrevokable Privilege of vending which, was 
granted to the Company in 1723, and confirmed to them 
in 1725, together with the Profits arifing from the Furs 
imported from Canada \ fo that the Fund for the Pay- 
ment of their annual Dividends was as effectually fettled 
and fecured, as it was poffible a Thing of that Nature 
could be in France. 
In the mean time the Commerce of the Indies was af- 
figned to them as a collateral Security not to be touched 
for the prefent, but to be employed in ftrengthening and 
enlarging the Funds for reftoring and maintaining that 
importantTrade, difcharging all the Incumbrances thereon, 
and putting it thereby in a Condition to become as cer- 
tain and indubitable a Security for the Payment of Hill 
higher Intereft to the Proprietors than they have hitherto 
received. Tiie Condition of the Company therefore con- 
fidered in this Light, appears to be fuch as ought to fa- 
tisfy all who have rational and moderate Views for the 
Security and Encreafe of their Fortunes, fince though no 
more than fifteen hundred Livres have been paid in upon 
each ACtion ; yet the Proprietors have conftantly and re- 
gularly received their Intereft of Ten per Cent, which is 
more than they could have made of their Money in any 
Part of Europe , and have ftill a clear and undoubted Ti- 
tle to the Profits that have arifen, or ftiall arife from the 
Commerce of the Company in the Indies. 
It is indeed true, that, hitherto they have received no- 
thing upon this Head ; but to ballance this, it is to be 
confidered, that, till within thefe few Years, this Trade 
has been carried on in a very languid and negligent Man- 
ner •, that fince it hath been put on a better Foot, they 
have been obliged to repair the Loffes fuftained by the 
Shipwreck of fome of their largeft Veffels, to pay off 
abundance of old Debts, to difcharge feveral Annuities, 
which the Company were obliged to pay, and which have 
extinguiftied very flowly, to rebuild and reftore feveral of 
their Factories, which were in a very bad Condition, to 
repair many, to build fome pew, and to equip all the Vef- 
fels in the Company’s Service, to pufchafe new Houfes 
for the Eftabliffiment of new Factories, and to add proper 
Ware-houfes, and Magazines to thefe, to lay out upwards 
of Fifteen Millions for the Improvement and Security of 
Louvifiana , to complete the neceffary Works at the noble 
Haven of Port VOrient , and all the leffer Creeks, Docks, 
and other Places that depend thereupon, and to be at 
other very confiderable Charges and Expences for fupport- 
ing its Commerce, maintaining its Marine, fubfifting its 
Forces, and keeping every where in good Order its 
Fortifications. 
Whenever thefe great Expences fhall have fo far an- 
fwered their End as to be no longer neceffary, and the 
Affairs of the Company, in Point of Commerce, are in, 
fuch a Situation as that there is no imminent Danger to 
be apprehended, but, on the contrary, certain annual Pro- 
fits coming in, thefe will be inftantly added to the prefent 
Income of the Company, who will likewife enjoy all that 
Stock which has been raifing both in Europe and the In- 
dies for their Benefit. The rifing or falling therefore of 
the Company’s AClions, cannot any Way affeCt its real 
Security, which depends in the firft Place on thofe fettled 
Funds before-mentioned 1 and upon this Trade, which, 
before the prefent War, was in a very thriving and 
fiourifhing Condition. The common Notion therefore 
which has fo long prevailed in France , and might be ve- 
ry eafily impofed upon Strangers, viz, that the King has 
ii M 
car- 
