IN THE YEAR 1613. 
41 
ing men concerned in the Turkey Company, was ap¬ 
pointed its first governor. 
Although the first voyages of the East-India Company 
were not fortunate, they began, as early as 1609, to 
make immense profits; ranging from a hundred and 
twenty-one to three hundred and forty per cent for seve¬ 
ral years in succession. It was in 1613 that they ob¬ 
tained a firman from the Great Mogul for a factory at 
Surat, and also equal privileges from the Emperor of 
Japan. Before then, although acting in the name of 
the company, each member took what venture or risk 
he chose. It was then resolved that all future voyages 
should be on account of the whole company. 1 
The attention of these merchants might therefore 
very naturally be diverted from the commerce of Spitz- 
bergen, becoming comparatively unproductive as it 
ceased to be a monopoly. Accordingly, a new combi¬ 
nation was formed, — consisting of a mixed body of 
English, Scotch, and Zealanders, the Muscovy Com¬ 
pany, and the East-India Company, — who undertook 
to conduct the fishery business jointly. But the ar¬ 
rangement was unsuccessful; and, in 1619, the trade was 
assumed by four members of the Muscovy Company, 
the experienced Capt. Edge being one of the number. 
These individuals, after a year or two, were discouraged 
by shipwrecks and other disasters ; and the business, 
so far as any English companies were concerned, began 
to decline, although prosecuted by the merchants of 
1 See Piet. Hist, of England (National Industry), book vi. chap, iv., and book vii. 
chap. iv.; and Anderson’s Chron. Hist, of Commerce, in loco. 
6 
