AS the trade of India, in former times, when we had Wars with the Portugals, did re­quire a greater number of Shipping, then now that we have peace with them; so did those many, and great Shipping, re­quire a farre larger stock to maintaine their great charge and expence; who of necessity were forced to spend two, if not three years in that Countrey, which could not well be done, but by sufficient Stock, to be sent out upon them for trade between Port and Port, in India it selfe: whereunto the Court of Committees of our East India Company, would never be perswaded, nor yet to follow the same in so full and ample manner, as might be able to beare so great a charge; Notwith­standing the many and earnest advices and solicitations of their Servants, and Factors, both from Surrat, Bantam, Persia, Factors s [...]lici­tations for in­crease of Stock, for Trade from Port to Po [...]t, not [...]elished. Muslapatan, and Macassar, from whence all the best commo­dities for Trade were to be provided, and which did yeild at least 2. 3. some 4. for one, within the compasse of one Mon­soon or sixe Months time, as by their owne Accompts, and Letters, (if duly examined) will plainly appear.

Now for as much as I have not the accompts of what passed Abstract of [...]x years disbu [...]se­men [...] in I [...]dia, what St [...]ck sent out, and what promised for the future. in Surrat before, and since my being there, nor yet have seen those at Bantam; I cannot, nor will not, deliver any thing as from my owne experience, but shall referre them to their own Accompts and Letters from those parts, which will sufficiently [Page 2] Prove, what I have asserted. Yet for the sixe yeares, and an half, I was in Surrat, I shall deliver a true abstract of Stock yearly sent thither, every yeares charges and expences, toge­ther with every years returnes from Surrat, whereby your Highnesse will plainly see, what wilfull and improvident courses, those grave and wise men, that governed at the Helme of that action, did steer, to the great losse and hinderance of the Ge­nerall Adventurers, (though to their owne private ends, e­nough advantageous)in the interim, not letting to make great shewes of reall intentions to follow that Trade, in a more full and ample manner than formerly; as by an Order and Com­mand by their Letters, of the 16. of March, 1624. to provide Goods in Surrat, to the value of 141447 l. 10 s. 00 d. for yearely returnes for England onely; which with charges there, would have cost at least 160000 l. starling, the partiulars whereof, I forbear to insert here, to avoide your Highnesse trouble, as not materiall unto the worke in hand.

To performe all which, they sent out the same yeare, but 36000l. in Goods and Monies, earnestly requiring by their said Letters, that all the said goods, might be provided every yeare for Annuall returnes for England, and which was performed most yeares at high Interest, of 13. and 14. per cent. whereof they had notice every yeare, both by Letters and Accompts, yet did they not send out sufficient Stock, to pay that great de­vouring debt, but let it continue 11. or 12. yeares unpaid, to the great hinderance of the Generall Adventurers, ignorant of their wilfull intentions, as to the ruine of that second, and great joynt Stock, by their ill-managing thereof; which, that it may most clearly appear to your Highnesse, I will give you the abstract of all disbursements in India, what the Company sent out every yeare, as also what returnes they had thence, for the sixe yeares I was in India.

Yet, did the President and Counsell send home upon the James and Jonah, next yeare, Goods to the value of 80000 l. in India, though at high Interest, whereby may be observed the improvident way of Trade the Managers of that Action did run here at home, notwithstanding the se­cond and great Joynt Stock of sixteene hundred thousand pound then in being.

[Page 5]

This yeare 1626. the Dolphin was promised to be sent home, No ship sent home this year, though fairely promised. And Goods enough in a readiness for 1. Ships lading, and 8. Ships in Port. Sh.Tun.Pallgrave800William800Blessing800Dolphin600Discovery600Maurice500Christoph.450Faulcon250 4800. there being at least [...]600. Bales of Goods ready housed in Sur­rat and Raneale, besides Pepper, notwithstanding all which, there was sent home no Ship that yeare, to the great hinde­rance and disheartening of the Generall Adventurers, as ap­peares by the Companies Letters of the 12. of March 1627. wherein they did heavily complaine for want of Returnes that yeare, by which it may be probably conjectured, there had some private order been given from some particular Commit­tees, not to send any Indicoe home that yeare, else could it not possible be, that having eight great Ships in Ports, idle, and without imployment, and so many Goods in a readinesse, which lost one whole yeares returne, to the no small prejudice of the Adventurers, there should be committed so great an oversight, and after so great and just complaints, not to be questioned for it at coming home, when my selfe, who succeeded him, upon [Page 6] receipt of those complaining Letters, endeavouring to salve up that errour, and reincourage the Adventurers, did engage my selfe at Interest, for upwards of 120 thousand pounds, and sent and brought them home upon eight great Ships the two fol­lowing yeares, Goods which cost in India upwards of 210 thousand pounds, was for the same cause, and no other, sent for home in a disgracefull manner, as I shall in its due place make knowne, to the admiration and wonderment of all the generall Adventurers.

And the same yeare was brought for England, upon the Ships Charles and Jonah, Goods, which cost in India upwards Sh.Tun. [...]rles1000 [...]h800 1800 of fourscore thousand pounds, in conclusion of the second and great joynt Stock, by all which may be observed, that the greatest part of Returnes sent home, was upon high interest in India, and which lay many yeares unpaid, to the exceeding pre­judice of the Adventurers.

Whereas, had they sent out 200000 l. every yeare in quick stock, as they have been often advised, and earnestly intreated by their Factors in India, that great interest had been saved, and the charge had increased nothing more than in Customes, and Charge Merchandise; but the profit, both abroad and at home would have been such, as would have born all losses, which have happened and befalne that action, by the impro­v [...]dent sending home their Ships late in the yeare, and an over­plus of faire gaine to have incouraged the generall Adventu­rers in the pursuance of that brave and rich Trade, if rightly managed.

Being now falne upon the unhappy losses this trade hath su­stained, it will not be out of season, to let you know how im­providently they ordered the returne of their Ships from India late in the yeare, occasioned chiefly for want of stock in the [...]ountry, to provide Goods in the best season, that so their Ships might come thence in December at farthest, so would they bring a Somer season all the way, and at home also; whereas coming thence in April, as for the most part they have done heretofore, they bring with them a Winter season, about the Cape of good Hope and all the way, & upon our own Coast also, which hath occasioned the greatest losses by Sea, as wo­full experience hath taught the generall Adventurers: And truly, if your Highnesse shall rightly observe, the constant course of the Dutch, in sending away their Ships about the be­ginning of December, together with the long experience of The late co­ming of our ships ou [...] of In­dia cause o [...] so many losses. their Ships safe and seasonable arivall in Holland, and the Companies many losses, and hazardous adventures, they have run upon those Ships, which have come thence so late in the yeare; you cannot but conclude, those that managed that action, to have been, and still are, most wilfully improvident [Page 9] in their way of trade, as if they did not desire its prosperity and welfare: And no lesse carelesse were they in the over­charge of shipping, and unreasonable burthen of unnecessary servants at home; notwithstanding the many and often com­plaints of the general Adventurers, even of late, when we had Unnecessary charge of Ser­vants, ab [...]oad and at home, a very great hin­derance to our small stock. not in stock above a hundred four thousand pounds; our charge was as much here at home, and much more abroad, than when we had that great stock of 1600 thousand pounds, yet could they not prevaile with that Court to lessen this heavy burthen of unnecessary charge.

In Anno 2627.

We had on our hands in Surrat onely, twelve great Ships, Twelve great ships in Su [...]rat with little or no stock to imploy them. with little or no stock wherewith to imploy them, as may ap­peare by the foregoing account, and their owne Letters of the 12 of March 1627. when the same year we sent to Bantam Goods for 11889 l. which was scarce 100 tunnes of tunnage, upon eight of the greatest Ships, six whereof went from Ban­tam on a Wildgoose Chase about the Island of S. Laurence, in search of the Portugalls Carrackes, but never looked out for them, nor came neare the place of their wonted rande­vouze.

All which Ships, with those sent out the yeare following, notwithstanding our small means then in the country (and I left by my Predecessor, forty six thousand pounds in debt at interest▪ were laden for England and Bantam, and thence home, with large Cargazones, as by the foregoing account and relation following; which, that your Highnesse may the better understand, I will give you some particular Clauses of the Companies owne Letter of the 12 of March 1627. allu­ding to the not sending home of the Dolphin, according to promise, and their own acknowlegement of the great number of ships we had upon our hands, and little stock wherewith to lade them home.

By the former clause of the said Companies Letters your Highness may plainly see how much they did blame the Pre­sident Blame for not sending home the Dolphin ac­cording to promise. Which dis­heartneth Ad­venturers from sending out more stock. then in being, for not sending the ship Dolphin home that year, according to promise: And by the second, how earnestly they desire speedy return of all their ships, That the Adventurers were so disheartned for want of Returns, (the life of trade) that they had with much difficulty pre­vailed with them to send out more Stock: That if their ships were kept out but one year longer they would eat out them­selves in Victuals, and mens Wages, with sundry other ex­pressions to this purpose.

All which I conceiving had been really meant and inten­ded, The Auth [...]ur ingaged for a­bove 120 thou­sand pounds at interest in India. according to the tenor of their said Letters: And out of an earnest desire to revive that declining trade then gasping for breath of large supplies; And to reincourage the Ad­venturers to a new and large Subscription for another Stock did ingage my self for upward of 120 thousand pounds in Notwithstan­ding which he did send home six ships with goods cost 130 thousand lib. in one year. India (as I said before) at Interest, and in Ianuary 1628, sent them home three ships, and in April following other three ships, with Goods to the value of 130 thousand pounds in India: My Predecessor having the foregoing year, upon four ships sent and carried home Goods to the value of 170 thousand pounds in India; And upon the Maurice, Mary, His predeces­sor having sent home 170 thousand lib. upon four ships the year before. Charls10004l.Jonah800  18004l. Faulcon, and Christopher for Bantam, in Goods for 35 thou­sand pounds: And in April 1630, I followed my self with Goods upon the Charles, and Ionah, which cost in India at least 80 thousand pounds.

All their ships being thus returned in safety, and fully laden with rich Goods with which the Adventurers were again en­couraged, above 600 thousand pounds clear gained little [Page 12] lesse than 100 thousand pounds saved in shipping, the lives Above 600 thousand li. gained 100 thousand li. saved in ship­ping and 2000 mens lives pre­served. of near 2000 land and seamen preserved, which else had pe­rished; And the action raised from 45 & 50, to 112 1/2 per cent. according to their own valuation: I did expect not onely thankfull acknowledgment from the Court of Committees, as I had from the generall Adventurers, but even a large Gratuity for this my good service: but so farre were those former from giving me any, either thanks, or reward, that presently upon the Arrival of those six ships, sent them from Surrat, in one year, they sent out another to supply my place, calling for me home, under colour of a Private Trader onely, kept 500 li. from me for wages, 300 li. due to me by their Pursers books, and 12 hundred and 50 pounds A fine of 2500 li. laid on me for doing too much good service. paid into the third joint Stock, above ten years denied me allowance for supplying the prime Places of charge and com­mand in India, to maintain the credit and reputation there­of, cost me at least 100 li. a year extraordinary for the four first years when I was Accomptant; and 250 li. a year for three years from the time I was chosen President, when as those that supplied the place of Accomptant both before and since my time had 200 li. a year, and the place of President 500 li. a year; and in the close of all, after two years atten­dance, without laying to my charge any dishonest action, For which they told me I had done them bet­ter service if I sunk their ships in the sea, or fired them in [...]dia. They shamed not in a most injust and illegal way, themselves being both Judges and Parties in their own cause, to assume such arbitrary power as to lay a fine of 2500 li. upon me, which I refusing to pay, and pressing hard for a Reward for my good services done the generality of Adventurers; some of the great Committees let not to tell me divers times, in a publick and full Court of Committees (what others had often done in private) That I had done them better service if I had sunk their ships in the Seas, or fired them in India, than I did by sending and bringing them home so richly laden, wherein had those dishonest Managers of that action suffered alone by those many ships and goods that have been sunk in the seas and fired in India, both before and since (and not fallen upon the general Adventurers) it had been but a just recom­pense for their ingratitude both to God and man.

Here is a mystery beyond ordinary apprehension or com­mon reason, not to be discerned but by those that have nar­rowly searched into their unjust waies, which that your Highnesse may the better understand I shall humbly desire your Highnesse to look back unto the end of Anno 1628, and beginning of 1629, when they had a very great parcel of Indico come home upon the Palsgrave, Dolphin, Disco­very, and William, of value above 200 thousand pounds; a parcel too big for any one, or a few to meddle with, yet must not be sold but in grosse and altogether; upon this great parcell (as I have been informed, and that most truly) did some particular Grandes, rich Committees, Aldermen, &c. cast an eye of private interest, and the better to work their own ends, and discourage other men from medling there­with, they did cunningly sell off some small parcels of Indico formerly bought at under-rates, by this means beating down the price and delaying to put the other to sale for almost a whole year, untill themselves were provided of monies and a season fitting their own dishonest intentions, which could not be untill they were assured the ships that went that year for India were gone clear from off our coast, having in their Letters by those ships given order unto their President and Councel in Surratt to buy no more Indico except at 8, or 9 Rupies the Maund; a price not known in our time, nor yet many years before; whih was as much as to say, Buy Order sent in­to India to buy no more In­dico. none at all; which they durst not plainly say, lest the rest of the Court, not privie to their deceitful design should dis­cover it.

The ships thus gone with this advise, which they believed A Court of Sales called in a most surre­pritious way contrary to their own or­ders of Court. would have been observed in India, (as it might have been, if timely given) they forthwith caused a Bill of Sale for this great parcel of Indico to be set upon the Pillars in the Ex­change at Eight daies warning (which if I be not misinfor­med) ought by their own orders of Court, to have been at Eight weeks, that so men might have had time to joyn to­gether, agree and provide monies, or security for so great and vast summes as that parcel would and did amount unto.

This Day of Sales being come, few Buyers appeared, (but The Indico sold at under­value, at rebate for months, 40 mo: which is 33 per cent. and 15 per cent. the impost of 6 d. per lib. is 48 per cent. gains, before it goe out of the land. those combined to out-bid all offers) that durst adventure upon so great a parcel as that was, especially seeing a great and rich Alderman make the first offer (though low) and back'd with divers other of his kindred, friends, and Co­partners, whom they feared to displease; It was suddenly put to the Candle, (a fine Cheat, where a cunning Secretaty hath the art of Extinguishing) which was soon out; and the commodity his at a lower price than ever sold at before; And that at five, six months day of payment, upon rebate at 10 li. per cent. for five, eight months paying in ready money, as they did, rebating for 40 months, which is 33 1/3 per cent. which with 6 d. upon every pound of Indico for impost which they A most noto­rious abuse to the Adventu­rers. received back after the rate of 10 groats a pound, which is 3 s. upon every 20 s. or 15 per cent. more, which together makes 48 3/1 per cent. a present and sure gain, before the commodity went out of the River, which if sold abroad, at the same price it cost here is a fair recompense for what they lost with the generality in the under rate they bought it at.

Adde hereunto the great weight and choice of the best of the Commodity given them by their own Servants: To pre­serve The dishone­sty of their ser­vants, in giving over weight to their Masters to preserve fa­vour. their favour, some of whom also shared with them in their good bargains; which great wrong and injury to the generall Adventurers was beyond all honest and faithfull dealing, whereunto both Masters and Servants are, or ought to be every year by oath obliged; The like abuse is too fa­miliary practised in the sale of all other Commodities, them­selves The same a­buse in all o­ther commo­dities. being both Buyers and Sellers of the same, to the ex­ceeding great prejudice of the Adventurers, who have in­trusted them with the managing of their businesse in hopes of fair and just dealing.

But to come more neer to the mysterie it self, which is, why the general Adventurers, should so much applaud my good service done for them by saving them 100 thousand pounds in shipping by preserving at least 2000 land and sea­mans lives, which must have perished with their ships if sunk in the sea, or fired in India, by gaining them above 600 thou­sand pounds by the Goods, so sent, and brought home; all [Page 15] which raised the Action to 11 1/3. per cent. as I said before. And for the very same cause, and no other, that Court of Committees should wish all those Ships sunk in the Sea, or fired in India, to the utter ruine of that Trade, which they have endeavoured, and now brought almost to their desired ends, as I shall more fully discover, when I come to discourse of the Trade for the silke of Persia.

That which now troubled them was, first, the frustrating The arrivall of 8. Ships in two years, with great store of Indico, lost their hoped for gaine. of their owne, expected gaines, which they had made to themselves, in hopes of at least two yeares time, for the sale of the said Indicoe, at their owne prises, having presently raised it to 50l. per cen. Profit, when unexpectedly, here arrived the same Summer sixe Ships, with a second great parcell of Indicoe which I had bought, and provided, before their said forbidding Letters came to my hands, and my selfe following Which caused such Inhuma­uiries fall from them, as to dis­cover their evil intentions. the next year, with a third great parcell brought downe the piece againe, to almost what they had bought theirs at, which was the cause he and they lost of their hoped for gains, and moved such inhumanities to fall from them, faire and true expressions of their evil affection to those so rich Trades of India, &c.

A second was, a crossing their designe of buying all the And crossing their base de­signe of buying of Adventu­res, a trick now againe in practice. Adventures of the Nobility, Gentry, Widdowes and Or­phants, as they had bought of many, at halfe their value, as will plainly appeare by their owne accompts; proposing a­mongst themselves, to ingrosse all Adventures, to the end, to make the whole Trade their own, and gaine that composi­tion, expected from the Dutch, wholly to themselves, an intention, as foule, as false, to the betrayed trust of the Ad­venturers.

And it will be no hard matter to prove that some of the Order for no mork Pepper to be sent home, as was formerly given for Indico, in prejudice of the Adventurers. present Grandees, and ruling Gommittees, who having late­ly ingrossed all the Pepper of two yeares returnes, at base and low prizes, did so order the businesse in India, that no more Pepper should be sent home the following yeare, as formerly they did upon the like occasions, forbid any more Indico to be bought, not regarding the great losse the gene­rall Adventurers did sustaine by keeping a great Ships [Page 16] ladeing of Pepper in India, a whole yeare, which might have been sent home one year sooner; which Ship, and Pepper, was in great danger, to be surprized by the Dutch, for want of timely advice given their Factors of the breach of Peace, as if in heart they desired the Ship and Pepper might be ta­ken by them, or perish at Sea. But God Almighty frustra­ted The Pepper Ships long de­tention in Pli­moth, not with­out a mysterie if well exami­nep. their desires, and brought in the Ship to Plymoth in safe­ty, where she lay some Moneths, with faire windes, rather wilfully detained by their under-hand dealing, than for want of Convoy, which must be laid upon the Council of States failing in their promised supply; an old trick of that Court, to fling scandals upon the Supreame Power, in all their ge­neral meetings, as they did heretofore, when ever the Dutch's Wrongs and Injuries were in question, the Supreame Powers must bear the blame, when themselves never made other than slight addresses unto them, as more willing they should not be composed, untill their owne designes were perfected.

Another heavy abuse to the generall Adventures, was theie neglect of Pressing the late King, and present Goun­cil of State, for the lessening of the over-great Impost laid upon Indico, Pepper, and other India Commodities, which because in former times, when Indico was worth 5s. and 7s. The Impost of Indicoe, and Peper of so great profit to the Commit­tees, that they doe not desire its easement as they ought. 6d. a pound, and Pepper, 3s. 4d. a pound, there was laid up­on Indico 6d. and Peper 2d. a pound Impost, and now Indico being fallen one third part in price, and Pepper to 12d. a li. they are not able to beare it; the Generall Adventurers, at many meetings, have complained, as a neglect in the Gover­nours, and Court of Committees, not ceally informing the Counnil of State of this over-charge; they have been made believe it is not their fault, having earnestly importuned the Council of State to lessen that great Impost on Pepper, &c. but could never prevaile, when indeed they have been so far from pressing it, that they rather desire its continuance, as to them more beneficiall, in the buying of these commodities. As for Example,

Suppose there be in a Stock 100. thousand pounds (as there is little more in that now in being) and that a Committee man have 1000/. Stock, Adventure therein, which is one [Page 17] hundred part of the whole, and there is two Millions of pounds of Pepper come home this year, which at 12d. the pound makes one hundred thousand pounds, which at 2 d. the Therefore why the Committee desire not to have the Im­post of Pepper taken off, is their own pri­vote gain thereby. pound impost is, 16666 l. 13 s. 4 d. upon the whole; the 100 part whereof, is, 166 l. 13 s. 4 d. which the said Committee­man loseth in the whole parcell with the Generall Adventu­rers; but this Committee-man buyeth this 100000 pounds worth of Pepper, and shipping it out again within 12 months, bath 2 d. for every pound of Pepper allowed him back for Impost, which is, 166666 l. 1 3 s. 4 d. so as here remains clear of gains, 16500 l. before the Commodity is gone out of the 16500 l. Land, without any advantage at all to the generall Adven­turers, who may not wonder if the Court of Committees de­sire not the taking off this great Impost, though sensilbe edough of their betrayed Trust, and breach of Oath, to manage all things in an upright way, and for the Generall good.

But were all those that have the managing of that Action here at home, bound, both by Oath and Bond, from being If the Com­mittee-men were bound from buying and selling the Companles Commodities, they would ne­ver eover to be Committees. Buyers and Sellers of the Companies Commodities, neither directly for themselves, nor indirectly by other men for them, no Aldermen, nor great rich men, would trouble themselves to be Committee-men, as now they do; a course most injust and dishonest, to inrich themselves by the ruine of the Ad­venturers, which hath ever been, and will be so, untill duly reformed by the States, taking the Action into their own protection, or laying it open and free for every man, that is willing to trade into the remote parts of India, and be Ma­sters of their own Goods, both abroad and at home, to dis­pose of them to their own best advantage; for Joynt Stocks do now too plainly appeare to be the worst of Monopolies, as this hath been the most hurtfull? that ever was to this Na­tion.

Nor is your Highness and State a little abused by this man­ner of returning of Impost upon all India Goods, that are transported within 12 Moneths, as accustomed, if not done by, and for the generall advdenturers account, to which end I suppose it was granted as a thing just and equall with all [Page 18] other Merchants; but with this Company, the greater part (if not all) of the Commodities brought out of of India, are bought, and Ship out again by particular Committee-men, that, peradventure, have not above 3. or 400. l. adventure 3 o 400 l. in the whole Stock; What reason is there, that that man that hath but 300. l. adventure (perhaps none at all, but as a Perhaps none at all, but as a Freeman. Free-man) shall buy for 10, 20, 30, 4000 l. or more, in any Commodity, and receive back the Impost of the whole, with­out any benefit at all to the generall Stock, which first paid it, but so much reall loss to the State; for, suppose a Com­mittee-man of 300 l. adventure, buyeth a parcell of Pepper worth 10000 l. which he shippeth out within 12. months (according to the former evill Custom) whereby he hath 2 d. in the pound Impost returned, which comes to 1666 l. 13 s. 4 d. whereas his due is but 33 l. 65. 8. the Impost of 300. pounds worth of Pepper, whereby this Committee-man gains in one year, almost five times his whole adventure, and so proportionably, if he buy for 20. 30. 50. or 100. thousand pounds worth of Pepper, as some men have often bought, to the great inriching of themselves, without any advantage at all to the Company in generall, and great loss to the State for these many years past, which may be, for the future, re­medied. This being one prime reason, that so many Alder­men, and great rich men, become Committe-men, and are Buyers and Sellers of their own Commodities, at their own prices, and long time, with rebate for 8. moneths for every 6. moneths a notorious abuse to the generall Adventurers, as I have said else-where, and may be worthy your Honours and States consideration, in prevention of future abuses in this kind. It is not so with the Merchant that tradeth into other parts, if he bring in a Commodity that finds not that vent for it here, as he can have else-where, shippeth out again all, or part, receives back the Impost he himself formerly paid, which is but just, but these Committee-men of the East-India Company receive back the Impost, not onely of what concerns their own proportion of stock, but even what the whole body of Adventurers did formerly pay, and wherein they themselves had no reall interest, an abuse worthy refor­mation [Page 19] for the future, as having bin some years 40. or 50000l. loss, and more, to the State, as will appear upon the exami­nation of their Accounts.

By the foregoing discourse, your Highness may in part see The improvi­dent way of trade which our Grandees have practised, appears in neg­laect of trade from Port to Port, in India it self. the improvident way of trade, those great and wise men did run, even when they had so large and plentifull means, as was that of the second and great Joynt Stock: But when your Highness shall consider how wilfully negligent they have been of the trade between Port and Port, in India it self, you will, with admiration, wonder that such wise and understan­ding Merchants, as they were, should commit such gross er­rours; if not done on purpose to ruine the Action, which that your Highness may the better apprehend, and see the difference between the immediate trade from England to Surratt, and Muslapatan, and thence back again for En­gland, and that of one or two years imployment between Surratt, or Muslapatan, and the Southern parts, as to Ban­tham, Acheen, Macassar, &c. and thence back again to Sur­rat, or Muslapatan, and so for England.

Suppose there be twenty thousand pound in Rialls of Eight, To the sending 20000 l. to Sur­rat, there to be invested in Goods for En­gland, may yeild here 23000 l. and Goods sent to Surrat, or Muslapatan, which might yeild there five or six thousand pounds profit, allowing 2000 l. to defray charges there, and there remains 23000 l. to be in­vested in Indico and Callicoes, &c. which sent directly for England, might, according to accustomed computation, have yeilded here three for one, or 69 thousand pounds, from which, allow 15 thousand pounds for fraight, assurance, for­bearance of their money, customes, and other charges, and there remains 34 thousand pounds clearly gained; a faire recompence, if no unhappy loss befall it: but if that 23000 l. But invested in Goods for the Southwards, and then re­invested in Goods for Sur­rat again, and then for Engl. would have made here 216000 l. in Surrat, had been invested in Commodities, fitting Ma­cassar, Acheen, Janiby, and Bantham, would have yeilded two for one, at least, clear of all charges, or 46 thousand pounds; which again re-invested in Cloves, Maces, Nutmegs, Lignum Allois, Turtle shells, Camphir, Benjamin, China roots, Pepper, and other Druggs, would have made in Surrat and Persia, at least two for one more, or 92000 l. from which allow 20000 l. for customes, &c. charges, and there had remained [Page 20] 72000 l. to be invested in Indico, Callicoes, &c. for England, which at three for one, is here 216000 l. a large Recompence for one or two years stay longer in India; all which, as a reall truth, will appear by their own Accounts, and the testi­mony of their Servants, that have been in those imployments. This was the manner of trade used by the Portugalls and Dutch, to their exceeding great profit, as appeared to all the world; yet would our Court of Committees not be perswa­ded thereunto, untill of late yeares, when Trade was over­laid by the Dutch, and Shame, and the urgent pressures▪of The trade from Port to Port, is that which made the Por­tugall, & now the Dutch, to thrive. Mr. Smithwick, and others, upon my information of the trade of India, began to look more narrowly into their impro­vident waies, and neglect of trade, did inforce them thereunto. Having thus far inlarged m discourse, on the want of stock in India, ill managing of that little sent out, with an over­charge of Shipping, without imployment for them: I will proceed to that of Persia.

I am now come to discourse of that, no less rich than pro­fitable trade for Silk of Persia, wherein I must ingenuously The trade for Silk of Persia, cause of the loss of the Mollucca Islands, and all the best trades of India, China and Japon. confess I was in a Labyrinth of admiration and wonderment, when I considered the many inconveniences and mischiefs, which the ruine of this trade hath brought upon that of the East Indies inparticular, and the Common-wealth in generall: had it fallen alone, and perisht upon its own ruines, it had been a most heavy loss to this Nation: but to be the means and the cause of the loss of all the Mollucca Islands, and with them the best of the trade of India, China and Japon, to the unspeakable prejudice of the Adventurers in the several Joynt Stocks, is worthy due consideration.

For the East India Action, strengthened with that great and powerfull means, as was the second Joynt Stock, was The second Joint Stock was able to have carried all the trade of In­dia against Por­tugall and Dut. if rightly ma­naged. able (if wisely managed) to have carryed all the best of the Mollucca Islands, and other trades in India, China, and Ja­pon, in despight of all the force the Portugals or Dutch could have set in opposition, had it not met with many evil disposed people of their own Society, bound by Oath and publique Trust to advance that Action, to the utmost of their power and best endeavours.

Such were the Portugall Merchants, who, that they might have The Portugal Merchants ene­mies to our Company tra­ding for India. have the furnishing of England, with all sorts of Spices, Indi­co, and other India Commodities, as heretofore did rather desire the Portugall might hold that Trade to themselves, as in former times.

Such also were the Merchant Adventurers, who (besides So also were the Du [...]ch Merchants more interessed in the Dutch Action than in ours. many of them more interest in the Dutch Action, than the English) rather desired the Dutch should injoy the whole trade of India, than the English or Portugals, that so they might have Spices, and other India Commodities, wherein to make returns in a more profitable way, than by exchange, as they do, to loss.

Yet were both these of little or no consideration (setting The Compa­ny unwilling to plant them­selves in India, because the State would place Gover­nors and Com­manders there­in, as in other Plantations. apart that generall dislike, that the State should have any power or command in their Plantations) in respect of the Turkey Merchants, who would that neither the Portugals, Dutch, nor English, might injoy those so rich trades of India, &c. much less that of the Silk of Persia, that they onely might supply England, and other parts, with all those fore-mentio­ned Commodities from Alexandria, especially with the Silk of Persia, from Alleppo, Smyrna, and other Ports of Tur­key.

Nor did these rest here onely, for they seeing that if the Their feare of b [...]inging the S [...]lk of Pe [...]sis by way of In­d [...]a, was the onely cause of the [...]ss of the trade of India. trade of India did prosper, and go on in a thriving way, that Stock, in few years, would be able to bring all the Silk of Per­sia, by way of India; rather than which, the whole trade of India, with all thereunto belonging, must be lost, and that great Joynt Stock consumed in a most improvident way of trade, as before related, that so they might (as they did) dis­courage and weary out all the Nobility, Geutry, Widdowes and Orphans, interessed therein, to sell off their Adventures at To which end they st [...]engthen thems [...]l [...]s with th [...] grea­ter number of Committees of their company, h [...] better to over-rule all at their pleasure. half their value to themselves, as I said before.

And the better to carry on this design, for ruining the trade of India, and Stock, they strengthen themselves with Governours, Deputies, and most of Committees of their own Society, of Turkey Merchants, that upon all occasions they might over-rule all opposition, as they did that most noble and brave proposition of Sir Robert Sherley, for setling [Page 22] the staple of that rich Commodity of silke in England; A thing so much desired of the King of Persia, to divert the great Revenue, the Grand Senior (his mortall enemy) made by the Customes, &c. of the said Silk, in hopes whereof, and in consideration of the aid the English gave him against the Portugals, in surprising the Island, and City of Ormus, he granted to the Nation those many and great Priviledges, such as the Nation injoyes in no part of the World besides: All The great pri­viledges the K. of Persia gran­ted the English almost lost to the Nation. which they have so neglected, with that so commodious Contract made with the King of Persia, that in a manner, both Trade and Priviledges are of little value or considerati­on at this day, in respect of what they might have been, if rightly managed.

Be pleased here also to observe the most unjust and disho­nest They oppose Sir R. Sherley's Propositions for setling the Staple of silk in England, in pre­judice of the Company and Common­wealth. carriage of their businesse, in opposition to the said Sir Robert Sherley, so notoriously contrary to the true interest of the East India Action, that nothing was, or could be pro­posed as more advantagious to the said Company, than was that of setling the Staple of the Silk of Persia in England, yet did that over-ruling power of Turkey Merchants, not onely procure an Ambassadour from Persia into England, but so prevailed with the late King to send another from hence with the said Sir Robert Sherley, into Persia, at the great and The charge whereof did properly be­long to the Turkey Compa­ny, and not to that of East India. vast charge of the East India Company, which did properly belong to the Turkey Company, whose interest it really was, and so far from prejudice to the East India Company, as nothing could be more advantagious to them, nor more honourable to the State and Common-wealth of England, than would that Staple of Silk have been, if rightly managed to its best advantage, as I shall make appear in my following discourse.

Having in some measure shewed your Highnesse the evil affection of severall Committees in that Government, but especially of that of the Turkey Merchants; I will briefly lay down the manner of the said Companies complying with that Contract made with the said King of Persia, in the best of times, by the yearly Stock sent thither from England, du­ring my abode in India, not at all, or very little, inlarged [Page 23] since, except one yeare, in Tinne, acommodity of least ex­pence, lay therefore many yeares before it was quite spent; Hereby any judicious man, may easily perceive their Good affection to that Trade, which done, I will shew your Highnes how commodious, rich, and profitable that Trade would have bin to that company in particular, and yet may be to the whole Common-wealth in generall, if rightly setled and managed to its best advantage, viz. Stock sent into Persia in sixe yeares of my time very little increased since.

Here the Annuall Investments for Persia from England, in six yeares, (one year excepted) was scarce sufficient to Scarce enough to maintain their Factors expence on shore. maintain the great charge and expence, in that high Port their Factors lived at, which considered, there will appear little Stock remaining to be invested in Silk: And this if your Highnesse please to observe, in the best of times, when Silk was worth from four Nobles to thirty Shillings a pound, at which prices, there had been gained at least three and a half for one, which would have advanced their stock very much beyond their desires; which, had our Company imbraced in any reasonable manner, if not to the full, as they might have done with that great Stock then in being, two years imploy­ment 300000l. [...]tock would have brought all the Silk of Persia into England every yeare. of 300 thousand pounds in the manner, I shall by and by lay down, would so far have inlarged that Stock, as should not onely have been able to bring all that Silk into England, have made this City the Staple of that Commodity for all Europe, but have carried all, or the greater part of the trade of India, China and Japon, to the exceeding great advance [Page 24] of this Action, and inriching of this Common-wealth and Nation, the wilfull neglect and loss whereof, if duly weighed, may render the Managers of that Action extreamly blama­ble, and worthy heavy reproofs from the higher Powers, unto whose Wisdom, and better Judgement, I will leave them,

And proceed to the business it self, and shew your High­ness The Compa­ny blame-wor­thy for negle­cting that so rich trade for Silk of Persia. how that Trade might have bin followed in a most brave and flourishing way, as heretofore, often intimated to some of the principall Actors themselves; but they had alwayes deaf ears to all that was propounded unto them at any time, that had relation to that Trade for Silk of Persia, though themselves had the severall Contracts made with the said King, on whom they laid the blame of not complying with them, at all the meetings of the Adventurers, at generall Courts, when indeed the blame was their own, as may appear The Contract with the K. of Persia. 1622. by their yearly supplies, sent out as before in the infancy of [...]at Trade, and best of times, and the Contract our people made with the said King; first in Anno 162 [...]. and renewed again in 1627. as followeth, viz.

A Contract with the King of Persia.

That what quantity of English Goods the English should import his Dominions, accompanied with one fourth part treasure, the said King was to take them at the prices follow­ing, viz.

Broad Cloath about 11 l. price, of 36. yards long, at Renewed in 1627. the p [...]i­ses of English Cloath, as also of Silke. 38. Shahees, the Coved or English yard, which is 12 s. 8 d. the yard, the Shahee being 4 d. English.

Broad Perpetuanies of 23. yards long, at 15. Shahees, or 5 s. the yard.

Devon-shire Kersies of 30. yards long, at 18. Shahees, or 6 s. English the yard.

Tynne at 70. Shahees the Maundshaw of 8 l. English, and in lieu thereof, the said K. was to deliver Silk at 48. Tomans the load, every Toman is 3 l. 6 s. 8 d. English, and every load contains 72. Maundshaws, of 8 l. English, so as 72. Maund­shaws of 8 l. makes 576 l. of 16 ounces, or 384 l. of 24. [Page 25] ounces; and 48. Tomans, of 3 l. 6 s. 8 d. makes 160 l. sterling, so as to buy 1000. load of Silke at 160 l. per load, three fourth part Goods, and one fourth part Treasure, I have estimated thus, English goods to be sent into Persia, with one fourth part Treasure, for 100. thou­sand pound, to buy 1000. load of Silke.

All which delivered into the Kings Ware-house, at the prises agreed on, viz.

A faire recompence towards Freight, Custome and other Charges here at home, upon so rich and staple a Commodity, and all this to be performed in 27. or 28. Moneths, for the first voyage, and afterwards in 12. or 13. Moneths at most, sending out stock every yeare.

But if the stock be at any time hereafter, able to send out, or otherwise to furnish this trade of Persia, with English goods, Spices & other India Commodities, to the value of 300. thou­sand pounds every year, with one quarter part Money, as I said before, it will bring 3000. loade, or 6000 great bales of silke, which is the proportion conceived to be brought them every Commodities out of Persia, neglected by the Company. yeare into Turkey, and would make here (besides Grogeran, yarne, Gauls, Anniseeds, Carpets, Goat Skins. ready drest in Colours, and other Commodities which our Company [Page 27] would never looke after) at least ten hundred thousand pounds starling, at 20sh. a pound, a moderate price, from which deduct 300. thousand pound to be first sent out, and there will remaine 700. thousand pound gaines towards Freight, &c. Charges at home. And so every yeare after the two first yeares, and a quarter, or thereabouts. And by this meanes have made England the Staple and Magazine of all Europe, for that Commodity, which was the reall intenti­on of the King of Persia, and the brave and noble designe of Mr. Robert Sherley; however shamefully opposed by our East India Company, utterly against the true interest of that Action, and to the extream prejudice of the Adventurers in particular, and the whole Nation in generall: A State-Acti­on A State-action the most ho­hourable and profitable way of trade. will be therefore the best, most honourable, profitable, and safe way of trade for this Common-wealth, and not by Joynt Stocks governed as hitherto, neither yet by an open and free trade, as is that of Turkey, especially if governed by Turkey Merchants (as this hath been) utter enemies to this trade for Silk of Persia, and consequently to the whole trade of India, &c.

It may be here objcted, that the trade of India, Persia, &c. if followed with a full stock, would carry out a great deale of treasure, and impoverish the Land of money: against which our State did wisely provide heretofore, by obliging the said Company, to bring in as much (if not more) than they did yearely transport, which, for some yeares, was duly obser­ved, and may again, by this means, bring in greater quan­tities by the proceed of Silk onely; besides, what other India Commodities do produce from Spaine, France, Italy, and other parts, from whence all the Treasure, which else would come for England, is now carried for Turkey to buy Silk of Persia, which if brought directly from thence, by way of India, would not onely furnish the great expence of the Ma­nufacture of Silk in this Land, but be a means to draw all that treasure (which is now carried into Turkey by other Nations, to buy Silk of Persia) into our own Country, to the great enriching thereof, especially in the increase of Treasure in your Highness's Exchecquer, beyond any means whatsoe­ver. [Page 28] If your Highnesse can obtaine from the King of Persia to renew the Contract for all his Silk, as formerly.

For, all that Silk the Merchant bringeth now from Turkey, is bought with ready money, at 14 s. the pound, or more, Silk of Persia bought in Tur­key with ready Money, which else would have been brought home. whereas it doth not cost in Persia, 8 s. at most, ready mony; our Cloath, and other Commodities, are sold in Persia for above 100 l. per 100 profit, Tinne almost three for one; in Persia we pay no Customes, which are ten in the hundred inwards, and as much outwards, never had Avenues or Mulcts laid on the Nation, whereas in Turkey, our Cloth, and other Commodities, seldome, or never, yeild 30. per Our Ships make as short a Voyage for Pe [...]sis, as doe others from Scandarroon, af­ter the first Voyage. 100 profit; pay heavy and great customes in and out, and have many Avenues put upon them every-yeare, in one place or other; our Ships also may make their Voyage in as short a time as usually from Scandaroon', after the first two yeares and a quarter, with much less danger of Pirats or other accidents, whereunto the other are inci­dent.

But had our Company (as I said before) when they had Spices sent in­to India and Persia would have yeilded 8. or 10. for one, profit. one third part of the Spices, sent a reasonable proportion in­to severall parts of India and Persia every yeare, it would have yeilded there eight, tenne, and more, for one, which would have raised the stock to such a value, as would have brought a large proportion of Silk from Persia, which again would have yeilded two one halfe for one, at the rate of 20 s. the pound, an indifferent and moderate price, and a very faire recompence for one yeares time spent in India: but our Company, governed by Turkey Merchants, would never be perswaded to follow that trade from Port to Port in India, though never so profitable, fearing that their Stock Unto which our Company would never hea [...]ken, nor heare of trade from Port to Port in India. would grow so rich and powerfull, as to be able to bring all, or the greatest part of the silk of Persia, by way of India, to their particular prejudice, whereby it too plainly ap­peares that private interest is the ruine of all publique Acti­ons.

Here falls in an Objection, which one of the prime mana­gers of that trade, not long since, made to me, when in dis­course I complained of the Companies neglect of that trade [Page 29] for silk of Persia, of so great profit and consequence, as I did Object: why the Dutch doe not buy silck of Persi [...], in return of spices and other Commo­dities. then make appear to him, though he would not seem to ap­prehend it; answered me, if that trade were so profitable as you say, why do not the Dutch fall into it, who carry not onely English Cloth, as we do, but even Spices, and other India Commodities also, yet do not invest the proceed thereof in Silk, which, if it did yeild so much profit as you say, they would not have so long neglected it.

Unto this I have in Answer two Reasons: First, that the Dutch made much more benefit by the Treasure they carried Answered, that they make more profit of treasure they carry thence for China than they carry silk for Holland. Again, some of our Commit­tees had made a private Con­tract with the Dutch, not to being the silk of Persia into Eu­rope. To which end it may be sup­posed, they neglected the receipt of their Customes in Persia. freely out of Persia into the Mollucca Islands, and China, to buy Spices, and Silk, and other Commodities for Japon, than the silk of Persia would have made at home in Holland; which he granted for good: A second reason was, that I had heard some Dutch in India (as I believe he had done the like) say that their Company had agreed with some of our Grandees, that if they, the said Dutch Company would forbeare the bringing of silk from Persia into Europe, that might hinder their trade for it into Turkey, they would under-hand let fall all their complaints of the Amboyna Massacre, and other wrongs offered our people in India, or at least so slightly prosecute the same, as it should never come to any issue, as it hath not untill some few weeks past: unto this he very angerly replyed (for it went to the quick;) these are but sug­gestions of those that have beene in India, and would faine possesse the General [...]ty of Adventurers, of greater matters than can be expected, and so in passion break off our dis­course, though in his own Conscience he knew it to be apa­rent truth.

Here also your Highness may be pleased to observe, that The Dutch falling into the trade of Persia, [...]roubled our Company more than the losse of the Spice-trade. in the same Moneth of Feb. and yeare 1622. when our peo­ple aided the King of Persia in the taking of Ormus from the Portugals, the Dutch executed their so inhumane but­chery on our people in Amboyna, and the yeare following fell upon the trade of Persia, where they had never been be­fore; which later did more trouble the over-ruling Gran­dees of our Company, than the losse of all the Spice-trade; yea, and of that of all India, which they have now brought [Page 30] by a long and lingring Consumption, even to its last gasp, and must sodainly expire, if your Highnesse do not take it into your owne protection, and make it a State-action, by giving it new breath of life, and by Stock and Countenance revive Which now languish for want of stock to keep up the Action. its decaying spirits, now out of all hopes of recovery by Joynt Stocks of Adventurers; so much disheartened by the wilfull Neglects and wrongfull abuses, improvident Courses of the former Managers of their Estates, that none but Mad-men or Fooles will put themselves upon the like againe, unlesse None but mad-men or foo [...]es will ven­ture upon Joynt St [...]ocks any more. better regulated in its government, or laid open and free for all men that have a mind to trade into those parts.

Much more I could say, as to the evill managing of that action, to the great hindrance of the particular Adventurers, and the whole Nation in generall; As also their great neg­lects The trade of China and Japon neglected, have been very pro­fitable to the Portugall and Dutch ever since. of those rich trades of China and Iapon, such they have been heretofore to the Portugalls, and now to the Dutch, as one Iacob Mathews, a Dutchman, a few yeeres since, upon his going for Holland, and thence Commander of a Fleet for India, did tell me in discourse about the trade of China and Japon, that their Ships did bring thence every yeare 70 or 80 tunnes of Gold, which according to their computation, is 7. or 800 thousand pounds Sterl. a year: I have also heard some Dutch (some yeares since in India) say, that they did then send to Japon every yeare ten or twelve thousand Broad­cloaths; if so many so long since, surely at this time many more: All which hath beene long since intimated to our Company, as most profitable trades (if rightly followed) yet would they never hearken thereunto, or any thing that ten­ded to the advance of that Stock, lest growing rich, should fall upon the trade of Silk; by which means they not onely kept that Commodity to themselves, but cunningly traded But our Comp. would trade for no more than them­selves could take off in sup­ply of their trade into, the Levant Seas, and else where. into India for no more than themselves could take off in supply of their owne trades into the Levant Seas and other places, at long time, and wrongfully rebates to the great hinderance of the Adventurers, so as if they lost a hundred pound a yeare a man, with the Adventurers in the generall Stock, they gained thousands by buying their owne Commo­dities (as I said before.)

And when I call to minde the often boastings of Peter The Dutch suspected to have over-bri­bed the Com­mittee below, Vanderbrook, Commander of the Dutch in Surrat, that their Company had chains of Gold that would reach from Am­sterdam to London; I rather believe they have over-bribed the Managers of that Action here below, than those Lords above, so much complained of to the Generality; had they had a minde to improve that trade to its best advantage, they had stock enough (besides the justnesse of their Cause) to have vyed stakes with the Dutch, especially here at home, Which hind ed their Com­plaints above. where they could finde meanes sufficient to maintain an Ar­bitrary power, to abuse and wrong their servants, or any man that laboured the good of that Action; so also could they find means to bribe, and keep Mr. Smithwick from a faire Hearing when he complained of their dishonest Procee­dings: in these cases, and the like, they spared not the ge­nerall purse; But to deale with the Dutch, in a businesse of so great concernment, they were over-sparing, as glad they had so good an excuse, as to fling the blame upon the King On whom they flung all the blame in general Courts. and Lords of his privy Council, in all general Courts, which, together with their servants private trade in India, was alwaies the burden of their complaints to the general Adventurers (when as some of themselves had greater Adventures in pri­vate, than in the general Stock;) with such false suggestions as these did they abuse the honest minded Adventurers, who simply believed them to be as honest, as rich, untill woful ex­perience told them the contrary.

For can it be imagined, that so grave and wise men as they were in their own way should (like little children from whom They wilfully lose one third part of the Spi­ces, which they might have kept. if you take one of their play-games will fling all the rest a­way) altogether decline that agreement of 1622. with the Dutch to have one third part of the Spice, upon the Mol­lucca Islands, paying 1/3 part of the charge and cost, because the said Dutch had over-reacht them in the contract, and over-bribed them at Court, that they had not the satisfacti­on they required, or but easily pursued, or was that a suffi­cient reason because the late Kings and Lords (for some rea­son of State then moving thereunto) did not presently repair them for the many injuries and great losses they had sustai­ned, [Page 32] that therefore they should abandon that agreement for Spices, which had they continued as they ought in Policy or common reason to have done, this company had not only prospered and flourished themselves, but had so hindered the Dutches designs, as they had never risen to that height of in­solency they are now at.

Adde hereunto the long sufferance of the Dutches injuri­ous proceedings which hath made them so insolent and pe­remptory in India, that they dared before these times give Lawes to our people in those Seas, yea, and exact Duties and Customes in our passage thorough the Straights of Molluc­ca, never yet paid by the English to any Nation; in requi­tall whereof, your Highnesse may as well exact a Toll or custome of all the Dutch-ships that passe through the Nar­row Seas, to pay a certaine custome for their ships, and goods, with much more of equity and right, and but justly pay them in their owne kinde, who spare us in nothing, whereunto they can pretend any the least shew of custome, how unjust soever.

But before I passe any further, be pleased to observe the wilful weaknesse (or rather neglect) of our Company, when The Com­panies wilfull neglect of the Spice-trade into India, it self made ma­nifest. they had the one third of all the Spices of the Mollucca Islands (as I said before) notwithstanding they had been ma­ny, and oftentimes solicited by their servants in Surrat and Muslapatan, to send a large proportion of those spices into those Northern parts of India, Persia, &c. where they would have yeilded as much money, or more, than in England, which again reinvested in Indicoe and other Commodities, would, after one yeares forbearance in India, have yeilded here at least three for one, and have excused the sending out 100 thousand pounds a year, sometimes in treasure; yet they would never be perswaded thereunto, as appeares by the fol­lowing estimate.

I sold of these Commodities at the said pri­ces my self in Surrat, in An. 1627.

Which 90 thousand pound, reinvested in Indico, Callicoes, &c. would have made in England at least three for one, which is 270 thousand pounds, from which take 8750 l. their first price in the Mollucca Islands, there remains 261250 l gains towards Charge, Fraight, Custome, and one yeares forbearance &c. in India.

A faire recompence, if wisely apprehended, yet would our Company never put the same in practice, which to some men may seem a strange mystery. But when your Highness shall consider, that that Court of Committees are the sole buyers and sellers of the Companies Commodities at their owne prices, and long time on rebate, and the benefit they make of the Impost they receive back at home, besides their gaine abroad, will soon judge them to have been more intentive on their own private profit, than the generall good of the Ad­ventures, though bound by oath and conscience to act for the good of their Trustees.

For the managers of this action, being Aldermen and rich men over-ruling all at their owne pleasure, and to their own ends, being both Buyers and Sellers of their owne Commo­dities, did so combine together, as to have all these Spices [Page 34] brought home, that so they might buy them up at their own The Commit­tees ingrosse all those Spices to their own pri­vate ends. prizes, and long time of payment of five sixe Moneths, to rebate at five eight moneths, to supply their own trades, into the Levant Seas and elsewhere, by which Rebates and Imposts received back, they gained 48 one third, per 100. at least, before ever the Commodities went out of England, besides what they gained abroad.

It was heretofore observed, that so soon as the Muscovy The Muscovy trade and stock ruined by the Turkey Mer­chants, being Governors thereof. Company (which had raised (in Queen Elizabeths time) a great joynt Stock, began to look into the trade for Silk of Persia, brought out of the Caspian Sea, and down the River Volga; the Turkey Merchants cunningly made themselves chief rulers of that Company, and so handled the businesse, that in a few yeares, they not onely wrought a stop of that trade of Silk, by the River Volga, but even the ruine of the whole Stock, by their improvident way of trade, and over­great and unnecessary charges, both abroad and at home, yet hath that trade, since the dissolution of that joynt Stock, been followed by particular men, managing their owne E­states, thrived and prospered, before the late difference be­tween the two States; and so may this trade of India, &c. if laid open, and free for particular men, to trade upon their owne Stocks, managed by Agents or Consuls (as is that of the Turkes and Muscovie trade) prove very profitable and rich to this Common-wealth, unlesse it shall seem good to your Highnesse to make it a State action, as that which is most likely to be most honourable, profitable, and advantagi­ous to this Nation, and Common-wealth, being rightly ma­naged, by a new and better way of Regulation, and Govern­ment, than heretofore hath been practised at home.

But to leave the resetling of these trades to the wisdome of your Highnesse and Councell of State, I shall humbly present The Commit­tees work the ruine of India trade on pur­pose to buy off dishertned peo­ples adventures at half their value. unto your Highnesse some other dishonest proceedings, of those Grandees, and managers of this action; who of purpose to undervalue the same, and dishearten the Nobility, Gentry, Widdows and Orphans, and other Adventurers, not able to ride out of their Stocks any longer, so much, as to sell of their Adventures, as they did some hundreds of thousand pounds, [Page 35] at 45. and 50. per cent. losse to themselves; and to this end, they imploy Mr. Thomas Smithwick, and others then Brokers upon the Exchange; But the said Smithwicke, understanding their designes and purposes, did serve himselfe and friends al­so by buying many Adventures of the Nobility, Gentry, &c. in hopes that being now become Adventurers, they might be­come also Committees, and have an eye over the managing of that action in a better and more profitable way, than here­tofore, and which indeed he did labour with much earnest­nesse and complaints, both to the late King, and Lords of his privy Councell, but all in vaine, for they having the Generall purse, at command, and a Lord Keeper fitting their owne humour, spared not as I said freely to bribe at Court, to stifle, and suppresse all complaints, and in the end, so or­dered the businesse, as he, and others were ruined and un­done in the pursuit thereof.

Besides this designe of buying up of Adventures at under values, a most unjust and dishonest course, and breach of Oach and trust, they had a farther intention, which was, that And gaine the Composition with the Dutch, to themselves, a most disho­nest breach of trust. having by this meanes, got all, or the greater part of the Stock into a few of their owne, and confederates hands; they would then presse his Majesty and Lords, in a more earnest and importunate way then hertofore, to conclude the diffe­rence with the Dutch, and so gaine that composition also to their owne advantage; all which will appeare by their owne accompts and papers, if duly examined.

As to the trades of China and Japon, I can say little to the particular Commodities either carryed thither, or brought China and Ja­pon have been to the Protu­gals, and Dutch very rich Trades. thence, more than in the Generall. I am ascertained the Portugalls heretofore, and the Dutch now have, and doe make extraordinary profit, first between India, and China, but especially between China and Japon, and thence back to Chi­na, and thence again into India; and if the Dutch them­selves do not vainly boast, they do carry many thousands of Broad-cloaths into China and Japon: it is likely we also might have made use of those so rich trades, had the mana­gers of that Action heretofore been willing to advance that trade to its best of profit.

All which, notwithstanding those so rich trades of India, &c. are no way to be esteemed the worst, because the managers thereof have not, made them so profitable to this Common­wealth, as they have been to the Portugall heretofore, and are now to the Dutch, and may yet be unto us, if well regu­lated under a State-protection hereafter, as the other have been, and are to this day.

Having thus presented to your Highnesse, the evil affecti­on, wilfull miscarriages, and improvident courses, to the rui­ning, if not utter suppressing of these so rich and profitable trades of India, Persia, Arabia, China and Japon, practised by that Court of Committees, who have had the managing thereof these many yeaers; I shall humbly leave these to your Highness's and Council of States better judgements, for the future regulating thereof, in a more profitable way than hitherto, either by making it a State-action, as the best, and The best way to make the Trade of India profitable to this Nation, is, to make it State-action. most assured way of benefit and honour to the Nation, or by laying it open and free for all men, that have a minde and meanes to prosecute those Trades, being regulated, and or­dered, as are the Turkey and Muscovy Trades, wherein eve­ry man is Master of his owne goods, both abroad and at home, aad hath the ordering and managing thereof at his pleasure, and not tyed up to the many inconveniences of Joynt Stocks, and the dishonest ends of some particular o­ver-ruling Committees, whose private Interest, and surrep­titious wayes of Buying and Selling their owne goods, to themselves, break through all Oaths and breach of Trust, even to the ruine of the Adventurers stock, though to their owne particular profit enough advantagious; experience having told us, that joynt Stocks (as I said before) are but the worst of Monopolies, and meer Cheats, both to the State, and Ad­venturers, and of all others, this of the East Indies the greatest.

But if your Highnesse can renew the former Contracts made with the King of Persia, 1622. and 1627. and enlarge that Trade, to the bringing all, or the greater part of the Silke of Persia, by way of India, and compell the Dutch to pay the one halfe of their Customes to your Highnesse, I [Page 37] dare be bold, as will many others that have been in India, to Spice Islands, and the Con­tract renewed with the King of Persia, for Silke, will make a rich trade. lay down a course and way of Trade, that one Million of Stock and Shipping, to be sent out in three years, shall re­turne its first principall, with one million of pounds advance, before the end of two years & a half, or three at most, & then every yeare after, one million of pounds, all charges borne; which Trade alone, in few yeares will increase your High­nesse Exchequer, and the Stock of the Nation, to such a large proportion, as will enable it to carry all Trades, and what else before them, in despight of all opposition.

I could say much more, in aggravation of the many and horrid injuries the Nation have received from the Dutch, but much more of the heavy losses, and wrongfull abuses, which some of that Court of Committees have occasioned; who over-ruling the more honest party by multiplicity of voices, and carrying all things to their owne ends, as profest enemies to that Trade of India, which so long as managed by such, shall never thrive, nor be worthy the name of an A joynt stock by Turkey Merchants ma­naged, never thrive. East India Trade; such as the Portugalls heretofore, and now the Dutch make of it, witnesse the large returnes these latter have made thence every yeare, of value at least 11. or 1200. thousand pounds, besides their large Stock remaining in India, and their many and rich Plantations they have there, to be valued at many Millions of pounds, all which they have obtained by the managers of our Stocks wilfull neglect, as much unwilling our State should have any insight, command, or interest in any of their Plantations; as not willing the action it selfe shoud thrive, and grow rich, for the reasons laid down in my foregoing discourse, which I hope will satisfie your Highnesse and Councel of State, as to the reality of the things therein proposed, together with the necessity of making it a State action, which will be the best, most safe, and profitablest way, for the honour and welfare of the Nation, being strengthned by your Highnesse Counte­nance and protection, will put such terrour into all people, both farre and neere, as they will not dare to molest, or trou­ble our just and lawfull proceedings, much lesse offer any re­all wrong or injuries to the Nation as heretofore. When [Page 38] protection was wanting to the Company, against the barbarous inhumanity of our false friends; as for the Por­tugale, a declared enemy, we were able to right our selves on all occasions, had our Company sought to plant them­selves on the Molucca and Banda Islands, as they ought to have done in the first place, as did the Dutch, and then to have beaten their way for Trade, into the North parts of India. The maine (if not wilfull) errour of our Company, in the Infancy of that Trade, so had we been Masters of all those forementioned rich Trades, to the great advancement of this Common-wealth, and Nation, which now may seem irrevocably lost, to the great shame and dishonour of this Common-wealth.

To conclude, those rich Trades of India, Persia, Arabia, China, and Japon, did never appeare in their true lustre and splendor, so much as in the time the Portugals had the sole Command of those trades in their owne hands, before either we or the Dutch had made any discovery thereof, when they had every yeare (if no Ships miscarryed) at least two Millions of pounds returned home on register, which paid customes to the King at high rates, besides Pearles, Diamonds, and other pretious stones of great value, which came unregistred, and paid no Customes. Of all which, the Dutch have endeavou­red to make themselves Masters, and had accomplished, had not the English interposed a pedling trade (for other I cannot call it) whom they durst not totally oppresse and beat out of those Seas, however laboured by all the meanes they could invent, and the more upon our Companies neglect of Trade, which gave them the advantage of making them so rich, and powerfull, as to dare to contest with your Highnesse and State here at home, in hopes to have swallowed up the whole Nation in a Conquest, and so have made themselves the absolutest Commanders by Sea, that ever yet the world knew; and so have brought into subjection, not onely the East and West Indies, but even all other Trades throughtout the whole world; but being beaten into better behaviour by your Highnesse power by Sea, it is hoped your Highnesse may in time worke the same for our Nation, being vigilant and care­full, [Page 39] to keep those people under hatches, that they rise not a­gaine to be able to hinder your Highnesses proceedings to that purpose; the true interest of this Nation being at this time to encrease its Trade, the onely meanes of making a Na­tion rich, and powerfull, and able to give Lawe; by Sea to all the world, as being so well seated, and fortified by Nature in the Seas, that having a commanding Navy as your High­nesse hath, and may have, able to suppresse all other neigh­bouring Nations forces by Sea, before they grow over-po­werfull, and able to give another encounter to yours, by com­bining together to its ruine. By other meanes (except from Heaven) it is impossible the world can offend us, as not able to bring an Army into our Land, but by wooden Horses, which are, and must be our chiefest care to maintaine in their full forces; and able, if not to destroy all others, yet to de­fend the Nation it selfe in safety.