A discourse concerning trade, and that in particular of the East-Indies wherein several weighty propositions are fully discussed, and the state of the East-India Company is faithfully stated.

A discourse concerning trade, and that in particular of the East-Indies wherein several weighty propositions are fully discussed, and the state of the East-India Company is faithfully stated.

Table of contents

A DISCOURSE CONCERNING TRADE And that in particular of The East-Indies. Wherein several weighty Propositions are fully discussed, and the State of the East-India Company is faithfully stated.

To proceed, the Propositions intended to be handled, follow First, That the East-India Trade is the most National of all forreign Trades.

The Second Proposition, that the Clamours, Aspersions, and Objections made against the present East-India Company, are sinister, selfish, or groundless.

The 3d Proposition, That since the discovery of the East-Indies, the Dominion of the Sea Depends much upon the wain or increase of that Trade, and consequently the Security of the Liberty, Property and Protestant Religion of this Kingdom.

The Fourth Proposition, That the Trade of the East-Indies cannot be carried on to National A•vantage, by a regulated Company, or in any other way then by a joynt Stock, which are proved by the following Arguments.

The Fifth Proposition, That the East-India Trade more profitable and necessary to the Kingdom of England than to any other Kingdom or Nation in Europe.

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A DISCOURSE CONCERNING TRADE And that in particular of The East-Indies. Wherein several weighty Propositions are fully discussed, and the State of the East-India Company is faithfully stated.

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THe Author craves leave in the first place, to present the Reader with some g [...]neral Opinions concerning [...]rade, which experience hath recommended to th [...] approbation of the most Iudicious.

1. That trading Merchants, while they are in the busie and eager prosecu [...]tion of their particular Trades, although they be very wise and good men, are not al [...]ways the best Iudges of Trade, as it relates to the profit or power of a Kingdom. Th [...] reason may be, because their Eyes are so continually fixt, and their Minds intent upo [...] what makes for their peculiar gain or loss, that they have not leisure to expatiate, or tu [...] their thoughts to what is most advantagious to the Kingdom in general. The like ma [...] be said of all Shop-keepers, and other Trades-men, until they leave off their Trades and by the purchase of Lands, become of the same common Interest with most of thei [...] Country-men.

2. Upon the same reason, a mixt Assembly of Noble men, Gentle-men and Merchants, are the best Constitution for the making Rules, Orders and By-Laws, for the carrying on any Trade for the publick utility of the Kingdom.

3. That all Trade, domestick or forreign, that doth not in the result, increase the value o [...] Land, ought to be totally rejected.

4. That all Monopolies are destructive to Trade, and obstruct the increase of the value of our Lands, and that therefore, if there be any thing in any Charter of Incorporate [...] [Page] [...]chants, that hinders any of their Majesties Subjects from coming into that Trade, [...] as good terms as others did, or yet may, it is fit that such bars should be removed.

5. That if all Strangers had free Liberty to enter into any of our Incorporated forreign [...]rades, as is practised by the Dutch, it would greatly increase our Trade, and improve [...] value of Land.

6. That those narrow Clauses in the Turkey Companies, and other Charters, which limit [...] Traders to be Free-men of London, and not to be Shop-keepers, &c. And the practice of [...] no Man to be free of the Turk [...]y Company under 25 l. if he he under 25 years of [...]; or 50 l. if above, are to the prejudice of the Nation in general.

7. The Dutch, Nationally speaking, are the wisest People now extant, for the [...] and carrying on their Trades for the publick advantage of their Country.

8. That the dominion of the Sea can never be retained, preserved and maintained, but [...] the excess and predominency of forreign Trade.

9. That dom [...]stick and forreign Trade (as also Land) do wax and wain together.

10. That Silver and Gold, coined, or uncoined, tho [...] they are used for a measure of all [...]her things, are no less a Commodity then Wine, Oyl, Tobacco, Cloth or Stuffs, and may [...] many cases be exported as much to National advantage as any other Commodity.

11. That no Nation can be considerable in Trade that prohibits the Exportation of [...]ullion.

12. That it is more for the publick advantage to export Gold or Silver, coined than [...]; for by the former we gain the Manufa [...]ture.

13. That whatever Nation hath the lowest interest, will certainly have their Lands in [...]ighest esteem and price: and no Nation shall ever over-match the Dutch in Trade, till they mate them in the rate of Interest Money.

14. That the Dutch gain more by exportation of Bullion and forreign Commodities [...]an by all their own native Productions and Manufactures.

15. That when ever wise and great Nations, having different Interests, and various forms of Government, do yet conspire in the same means to accomplish the same ends, of Profit, Power and Honour, they are to be concluded nearer the right way to those ends, [...]hen the wisest and best private men living, who hold contrary Opinions, swayed by personal Profit o [...] Loss, Pique or Prejudice.

16. That there is just as much need of Companies of Merchants in England as in Holland, and no more. The Dutch have no Companies of Merchants, but those of the East and West-Indies, and those in joynt Stocks, protected and defended by the Laws of the Provinces, which are of the same force as Acts of Parliament with us.

17. That there is a necessity of a joynt Stock in all forreign Trade, where the Trade must be maintained by Force and Fo [...]s on the Land, and where the King cannot conveniently maintain an Amity and Correspondence by Ambassadors, and not elsewhere.

To proceed, the Propositions intended to be handled, follow First, That the East-India Trade is the most National of all forreign Trades.

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Which is thus proved, (viz.)

1. WHat the Dutch, French, Danes, Portugals, and which not long since the Swedes, and now the Duke of Brandenburgh, have with so great charge an [...] expence attempted, and hedged about with Laws and Encouragements, must certainly b [...] matter of the greatest National Consequence.

2. This Trade imploys more great War-like English Ships from 50 to 70 Guns, the [...] all the Trades of the World from England besides.

3. This Trade alone furnishes us with Salt-Petre, a most necessary Commodity.

4. Above four fifth Parts of the Commodities imported by this Trade, are again ex [...]ported, to the vast encrease of Navigation; by the returns of which, more than treble the Bullion is imported that was first exported to India.

5. If the [...] the East-Indies were not in English hands, the East-India Commodities would come in from Holland, and that with this di [...]ference, that we should pay as much for Pepper now sold for 8 d. the pound, as for Nutmegs, Cl [...]ves, M [...]e, Cinnamon ▪ which is from 6 s. to 15 s. per pound, which tho' cheaper at the places of their growth, the Dutch enhaunse by having the sole Trade for them; this saves the Kingdom in that respect only 50 [...]000 l. per annum.

6. This Trade doth more work upon the Manufactures of our Neighbours, than any other forreign Trade; and whatever weakens them, enriches and strengthens England ▪ it is reasonably computed, that Italy, France, Holland, Flanders, &c. (the Staple Countries for Silks and fine Linnens) by the Importation of East-India Silks and Callicoes, not only into England, but from thence into those Countries, are abated in those fine Manufacture [...] above a Million of Pounds Sterling per annum.

7. It is thought that above 40000 Families in England are employed in Silk-broa [...] weaving, tho' that Trade began here but about the beginning of King Charles the first In a few Years more this Nation may be treble the number in such Manufactures, since [...] East-India Company bring R [...]w Silk cheaper then it can be afforded in Turkey, Fran [...] ▪ Spain, or any other place where it is made, and do serve Holland, Flanders, and som [...] other Markets from England.

8. This Trade pays the King 60000l. per annum Custom, and carries out yearly 60 o [...] 70000l. in Lead, Ti [...]n, Cloth▪ Stuffs, &c. of our own Production and Manufacture, which would not be sent at all, if England were deprived of this Trade, because neither Dutch nor French would enure the Indians to our Manufactures.

The Second Proposition, that the Clamours, Aspersions, and Objections made against the present East-India Company, are sinister, selfish, or groundless.

Object. 1. SOme of the Turkey Merchants say, The bringing in of so much Silk, and so cheap, is a publick [...]usance ▪ and destroys their Trade, which depends wholly upon the Exportation of Woollen Manufacture, whereas the East-India Company send out little Manufacture, and much Bullion, &c.

[Page] Answ. 1. 'Tis strange Doctrine to Men skilled in Trade, that the making a Material [...], that is to be manufactured at home, or exported again into foreign Countries, [...] be to the publick damage.

2. The Turkey Merchants have Shipt out more Cloth yearly, since the great encrease of [...] East-India Trade than before.

3. The Question is not, Which Company sends out most Woollen Manufactures, but which is [...] most Profitable Trade to the Nation, and that is before shewn.

4. If the Exportation of Bullion hinders not the Exportation of our Manufactures, as in [...] appears: and if for every 10 s. value sent out, 30 s. be brought in Bullion at the long [...], which is evident in the course of the East-India Trade, then the Exportation of Bullion [...] a great and real advantage.

5. The Turkey Merchants do send out a great deal of Bullion themselves, which is no [...], but their complaining of others for the same thing is.

6· The truth of the case, at the bottom, is but this; the Importation of better and [...]eaper raw Silk from India ▪ may touch some Turkey Merchants profit at present, tho' it [...]enefits the Kingdom, and [...]in [...]ers not the Exportation of Cloth: What then? Must one [...]rade be interrupted because it works upon another? At that rate there would be no [...]ing but Confusion in a Nation ad infinitum, Our Plantation Sugars have brought down [...]e Lisbon Sugars within memory of m [...]n, from 8 l. per Centum, to 2 l. 10 s. per Centum, [...]nd yet the Exportation of our Woollen Manufactures to Portugal, is now greater then [...]ver it was: just as 'tis and will prove in the Turkey Trade.

7. If those Turkey Merchants think the East-India Trade so good, why do they not [...]ome into it themselves? The Door is open always to them, and all the King's Subjects.

Object. 2. They say there are not above 80 legitimate Merchants in the East-India Company.

Answ. 1 By Legitimate Merchants they mean such as have served Apprenticeships; in the [...]umber thereof, they reckon short above half.

2. It matters not two Straws to the Kingdom, whether they be legitimate or illegitimate; [...]hey are in the whole 556, which is mo [...]e by a great many than the Turkey Merchants, [...] more by above half than they would be, if the Trade were not managed in a joynt [...]ock.

Object. 3. They say the Company have half the known World in their Charter, and that's [...] much for any Company, &c.

Answ. 1. They have no more in their Charter than all the East-India Companies in Christendom have in their Charters.

2. The Company is a Company of all, or of so many of the King's Subjects as desired to [...]e concerned in that Trade, or yet do, they buying Stock.

Object. But 'tis dear buying at 280 l. per Cent.

Answ. 1. 'Tis less then the intrinsi [...]k value, if the Stock were now to be broke up.

2. If it be too dear, any Man may be as justly compell [...]d to sell his House at the Buyers [...]rice, or else be disseized of [...]t, as his Stock in the Company.

Object. 4. They say the Charter hath exorbitant and illegal Clauses in it.

Answ. 1. No Charter in Europe hath less of that kind.

2. 'Tis absolutely nece [...]sary, that whoever governs a Trade so remote, and by such a Multitude of Hands as are employed, should have some extraordinary Power committed [...]o them.

3. Wh [...]tever is in the Charter, the Company never did any arbitrary Acts, nor ever seized Shi [...]s or Goods by vertue of their Charter, tho they have o [...]ten had cause.

[Page]Object. 5. They say the Company have imp [...]d and exacted great Fines, Mulcts and Forfeitures to an immense value.

Answ. What they take in any case, is by submission of the party, by agreement with the Master and Owners in Charter-party, or by Arbitrations, and always in pursuance of legal Obligations, sealed and delivered.

It is highly reasonable, the Company being at above 100000 l. yearly charge in India and England, that whoever participates of the Trade, should proportionably contribute to the Expences that neces [...]arily attend the preservation of it.

Object. 6. They say, besi [...]e [...] Raw Silks, the Company imports wrought Silk, to the prejudice of the Silk Manufacture in England.

Answ. 1. This lies as much and more against all other wrought Silks imported into England from Italy, Holland, &c.

2. The Silks which they commonly bring in, are the main part of them Taffaties, and other plain or striped Silks, such as are not usually made in England, but imported from France, Italy, Holland. So this importation work▪ upon our Neighbours.

3. A great part of the wrought Silk [...] imported by the Company, are again Shipt out to France, Holland, &c. to the great advantage of the King and Kingdom.

Object. 7. Some Clothiers complain that the East-India Company hind [...]rs the vent of Cloth.

Answ. 1. This deserves a thorow inspection: 1. Who they are that complained? 2. When and how they began to complain? 3. Why, they complain? 1st. For the time, when, it was in the year 1674, or 1675, Then they had the confidence to tell the Parliament, the Company would spoil the trade of Cloth, and bring the price of Wool to nothing. But in fact, the Company hath now stood five or six Years since that time, and much augmented their Trade for India, but Wool is advanced in price above 50 per centum, and there hath been such a trade for Wooll [...]n Manufactures, as England never saw in any former age. 2. Who they were that complained? Not the poor Kentish Clothiers, that have lost their trade; nor the Suffolk Men, that have lost their Manufacture of Bl [...]w Cloth, but the Worcester, Glocester, and Somerset-shire men, that do now make and vend above twenty times the Cloth they did before this Company was erected. 3dly. How they began to complain? Their first Petition was drawn only against the Turkey Company, for making but one Cloth Shiping in a year: But a certain Counsel (since famous for other matters) told them, they should draw their Petition against the E [...]st-India Company likewise, which they did; whether the Dutch or some of England gave the best Fees is uncertain. 4. Why they complained: That few understood: Their Trade was wonderfully encreased, and the East-India Company had sent out in some one Year above ten times as much Cloth as was ever sent out in the time of open Trade.

Object. 8. They complain th [...]t the pr [...]sent Stock is engrossed into a few Hands, some single Adventurers having 16 or 17000 l. principal Stock in their own Names.

Answ. 1. If true, the Complaint of it wou [...]d [...]ound better out of the Mouth of an old Leveller, than a Merchants. None ever pretended to [...], much less to level Personal Estates, which if they could be made even at Noon, world be unequal before Night.

2. The Dutch think whoever [...] m [...]st in their joint Stocks, doth most oblige the Common-wealth, tho' he [...], insomuch as one Swasso a Iew had at one time in their East-India Stock above the value of 300000 l. Sterling.

3. The more any Adventurer hath in the Stock, the more he is engaged to study and promote the good of it.

4. Notwithstanding the largeness of any of the Adventurers Stocks, there are yet 556 Adventurers, which is a greater number than are to be found in any Trade that hath not a joynt Stock.

[Page]Object. 9. There are many other Ports, and Places within the Limits of the Companies, barter, where English Commodities would vend, which the Company do not Trade unto.

Answ. 1. There can never be any Society, that will more industriously expatiate and [...] Trade in those Parts of the World, then this hath done, by all peacable means. 100000l. [...]ill not excuse them for the losses sustained in such attempts.

2. In India, a Factory at Surrat will share in all the Trades of the Red Sea, as well as [...], and other Parts within the Correspondency of that Presidency; The same may be said of [...]antam and many other Places as well as Surrat.

3. In very many Places of India, where the Company do not settle Factories, they carry [...] a Trade by Natives.

Object. 10. It is said, if the Company were not in a Ioynt Stock, many more Ships might be [...]mployed in India, from one Port to another, in Trading Voyages.

Answ. 1. The Company want neither Stock, nor Skill, or will, to employ as many Ships [...] they can gain by, and have almost doubled the quantity of their Stock and Tunnage wit [...] [...]n ten Years.

2. The Company have now twenty five Ships and Vessels trading in the East-Indies from Port to Port, besides the eleven great Ships sent out last Year, which are abundantly enough to answer all the Companies occasions of that kind.

Obiect. 11. That since the East-India Company was Incorporated, Co [...]nage hath abated in England.

Answ. This a meer groundles Chimaera, and will appear so, if the Old Mint-Master, as well [...] the new Ones, be examined.

The 3d Proposition, That since the discovery of the East-Indies, the Dominion of the Sea Depends much upon the wain or increase of that Trade, and consequently the Security of the Liberty, Property and Protestant Religion of this Kingdom.

THe first Part of this Proposition is meerly Historical, and the proof of it will require little pains, to all that look beyond the present Age; while the Spanyards had Portugal, and with it the Trade of India, they were able to invade England, with a Navy, by them called Invincible, and so it was, as to Mans understanding. The Dutch since the Protugals sunk in the Indies, have grown [...]o potent, in and by [...]hat Trade, that they have contended with us for the Dominion of the Seas, and if through the Folly or Madness of a few unthinking or self interested Men, we should deprive our selves of the East-India Trade, we should certainly save them the experiment of Fighting with us again for it; they would carry the Dominion of the Sea [...]lear, and hold it for ever; or until their Common-wealth should be destroyed by Land force, or intestine Broils.

If we should throw off the East-India Trade, the Dutch would soon treble their strength and power in [...]ndia, and would b [...]ome sole Masters of all those rich and necessary Commodities of the East; and make the European World pay five times more for them, than now they do, which would so vastly encrease their Riches, as to render them irresistible. If they have Trade and Money they will never want Men, Seamen are Inhabitants of the Vniverse, [Page] and where ever they are bred, will resort to the best Pay and most constant E [...]ployment.

And further all other Forreign Trade in Europe doth greatly depend upon East-India Com [...]modities, and if we loose the importation of them, we shall soo [...] abate in all our othe [...] forreign Trade and Navigation; and the Dutch will more then proportionably encrease theirs: And the Augmentation of their R [...]ches would further enable them to overballanc [...] us, and all others in Trade, as well as in Naval strength.

As to the second part of the Proposition ▪ can any Man that looks abroad into the World doubt of the Truth of that Obser [...]ation (viz.) That Trade never thrives in any Country that is not Protestant. Since Queen Eliza [...]th's time our Customs are increased from 14000 l. Per annum, to above 70000 l. Per annum. I [...] it not evident that the Dutch since their being Protestant, are increased m [...]r [...] in Trade and Wealth in one Hundred Years, then the ancient and fortunate Romans did in four Hundred Years, after the Foundation of their flourishing Common-Wealth? H [...]ve not the French since they were part Protestants and part Papists increased more in Trade and Shiping in one Hundred Years, th [...] they did in five Hundred Years before? A Naval power never affrights us, Seamen never did nor never will destroy the Liberty o [...] their own Country▪ They naturally hate Slavery, because they see so much of the Misery of it in other Countries: All Tyrannies in the World are supported by Land Armies: No Absolute Princes have great Navies or great Trades, very few of them can match that little Town of Hamburgh in Shiping.

Who do we fear may destroy our Liberty, Property and Religion, but the Papists and the French, and so we should have found it▪ i [...] God Almighty had not disappointed them. Now, under God's Providence, what can best secure us from them, but our Naval strength, and what doth especially increase, and support that, but our East-India Trade. If this be here proved to the conviction of unbyassed English Men, the consequence in this Proposition is most natural and irrefragable.

The Fourth Proposition, That the Trade of the East-Indies cannot be carried on to National A [...]vantage, by a regulated Company, or in any other way then by a joynt Stock, which are proved by the following Arguments.

Argu. 1. THe Practise and Experience of all other Nations shews this. If it be objected, This Argument will not [...]old universally, for the Portugals have a Trade for East-India, and [...] have no joynt Stock. 'Tis answered, there is a joynt Stock for this Trade in Portugal, but that is the King's Exch [...]quer, who reserves to himself all considerable India Commodities, and leaves only to his Subjects those that are tri [...]i [...]l: That trade dwindled to nothing, when it came to be confronted and out-done by the more National and better constituted joynt Stocks of England and Holland.

Argu. 2. Our East-India Company have now their Money at 3 per cent Interest: others that trade in an open or regulated Trade, [...] value their Money at 6 per cent. Now i [...] the Company, with their united Stock and Counsels, and Money at [...] per cent▪ have much ado to hold up against the subtil Dutch, what shall poor private M [...]ch [...]ts of divided, various and contrary Interests do, with their little seperate Stocks, at 6 per cent per annum?

[Page] Arg. 3. In regard that all other Europian Nations do now drive the East-India Trade i [...] [...]oynt Stocks, it seems madness to enter raw and private Persons, against such compacted and united Constitutions of experienced Counsellors, suppo [...]ted with an inexhaustible Treasure.

Arg. 4. Should the Company be destroyed, and the Trade left open, their Priviledges in India would be lost, which have cost vast sums to maintain and retrive, some whereof are these (viz.) The Liberty of Coinage, and their Money p [...]ssi [...]g current in all the King of Gulconda [...] s Country. Freedom of Customs in almost all places, and in some where the Dutch and other Nations pay Custom. At Fort St G [...]orge, and Bombay, the Company ha [...] a right, and d [...]th impose a Custom upon the Natives, and all other Nations. In the Empire of Persia they are Custom free, and have yearly from the Emp [...]ror aovbe 3000 l. in lieu of the half Custom of his own Subje [...]ts, and all others trading thither.

At Bant [...]m they are at a set rate of 4000 Dollars per annum, for all Customs, tho' trade be never so much increased. They are in most places of India, in effect their own Law-makers, and can Arrest and Impris [...]n any Natives that deal with them, or owe th [...] Money.

All their black Servants, and others employed by them, or tradi [...]g with them, are free and exempted from the Iurisdiction of the Native, and other Governours.

They are in all places free in their Persons and Goods, from all [...]nland Customs and Duties, which are very great upon the Natives.

Arg. 5. This Nation sustained great Losses, Damages and Depredations in the three Years of open trade, so that at length the very private Traders themselves, were the forwardest Petitioners for a return to a joynt Stock.

Arg. 6. There are above 100 Kings and absolute Princes in India, and as many Ports and Places of Trade, which would need forty Ambassadors, and [...] must have Instructions, and carry large Presents.

Arg. 7. Letters pass freely to and from Turkey in a short time, and in case of Injuries done, the King's men of War may soon go and revenge them; but India is at a far greater distance, and no certain return of a Letter to be h [...]d once in twelve Moneths and it is more difficult to maintain a Correspondence in India, from Port to Port, then between England and Turkey.

Arg. 8. Where-ever the English settle a Factory, they must presently build them large Houses, Ware-hous [...]s, &c. and take many Servants, &c. If it be said, This may be done by a regulated Company. It is answered, First, how shall they raise a Stock to buy those the Company already have, which, with what else they have there, have cost them above 300000 l. Next, how shall they maintain and defend them? By Levia [...]ions upon Goods. What? before there are any Goods to tax: No, they shall raise a joynt Stock, to make the first pur [...]hase▪ and after take only a Tax upon Goods to maintain them. These are absurd, incongru [...]us and [...] practicable Notions. For in a time of War & danger, Men will forbear trading; so that there will [...]e no Goods to tax when there is most need of Money. Whereas the Gove [...]nours or Committees ▪ [...] alwa [...]s in their Hands a real Fond of above a Million of Money, an [...] can borrow so much more in India, in a few days, if they want it, their Credit there▪ being as current [...] ready Gol [...].

Arg. 9. The East-India [...] (a [...] have that of Holland) have power by their Charter to make War upon any Nation in India at d [...]retion: this Power they must have for carrying on of their Trad [...]. Now to whom shall this Power be delegated in a reg [...]l [...]ted Company? to all English men, or to a single Ambassador, or to many Ambassadors and Consuls?

The Fifth Proposition, That the East-India Trade more profitable and necessary to the Kingdom of England than to any other Kingdom or Nation in Europe.

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1. THis is so, as we are an Island, and have our Security, as well as the increase of o [...] Riches from our Trade and Strength at Sea.

2. The trade of India is to England not only a great but an unmixt advantage: Wher [...] as to our Neighbours, they cannot have it without some mixture of loss in other respect [...] some of them having the production of Silk among themselves, as Italy and France. An [...] they have the sole Manufacture of plain Silks, such as Tassati [...]s▪ Sarc [...]ne [...]s. &c. which ar [...] brought from India cheaper than they can make at home. Holland, Flanders and Franc [...] in some measure, have the principal Manufactures, in fine Linnens, Cambrick [...]s, [...] and Hollands, which only Callico works upon, to the putting them very much out o [...] request, even in their own Countries: Whereas Callico doth not much prejudice ou [...] strong course sorts of Linnen made in England. Neither is our Linnen Manufacture a mat [...]ter worth the taking notice of (whatever some men think) but in Holland, Flanders▪ France and some parts of Germany, 'tis their main concern, being the subsistance of the Maj [...]rit [...] of their People, as the Woollen Manufacture is in England.

3. The Dutch have a standing contract with the King of Persia for all his Silk, now in re [...]gard Bengal Silk can be brought cheaper then that, the Dutch by bringing Silk from Bengal must prejudice that Contract in the price of Silk: Whereas We having no such Contract in Persia, do not work upon our selves, as they of necessity must, and yet they are wiser th [...] to slight the Trade of Bengal for that cause.

For a Conclusion, to shew present and future Ages in what a Condition the English East-India Trade stood, when the Company was assaulted by the private designs of particular Men, the following Account of the present posture of their Affairs in 1681, is added (viz.) The last year they sent out (which are not yet returned) for the Coast of Cormandel, and the Bay of Bengall, four three Deck Ships, the least whereof was burden 530 Tuns.

For Surrat and the Coast of India, 3 three Deck Ships, the least thereof Burden 450 Tuns.

For Bantam 2 Ships, each 600 Tuns.

For the South Seas, and China 2 Ships, one 430 Tuns, the other 350.

And in all of them the Stock of 479946l. 15s. 6 d.

This Year (1681) they are sending out for the Coast of Cormandel and the Bay of Bengall, 5 three Deck Ships, the least thereof 460. Tuns.

For Surrat and the Coast of India, 3 Ships, the least thereof 460 Tuns.

For Bantam 3 Ships, two of them 360 Tuns a peece, the third 600 Tuns.

And for the South Seas and China one other great Ship.

And in all of them the Stock of above 600000l.

Note, That the Company employ none but English built Ships, and besides what they sent out last Year, and are sending this, they have alwayes a considerable Stock left in the Country, to make and provide Goods before-hand.

[Page]It is believed that the Dutch to have this Company destroyed, would give a Million of [...]ou [...]ds Sterling, and that i [...] they should give two Millions, they would have too good a Bar [...]ain of it.

All that is hitherto wrote, is onely an Abstract of a most elaborate and judicious Treatise pub [...]shed in the Year 1681, It is brought into this narrow compass for the better information of English Men, many of whom have not disposition or leisure to peruse long Tracts, especially where they [...]steem themselves not concerned. The time when that Treatise was printed and published doth demonstrate, that it was not calculated for the present Conjuncture. The Reader hath here under written, an Abreviation of a Supplement to that Treatise printed and published this present Year 1689, which will inform him of the present Posture and Circumstances of the East-India Companies Affaires.

About the Year 1681, the Company had raised the English Navigation and Power in India much beyond what it was in any former Age: But soon after that destructive Trade of the Interlopers beginning, the Dutch took the advantag [...] of that confusion to surprize Bantam: Which troubles falling together upon the Company, and soon after a general failure of Credit in all publick Funds, caused many Adventurers to sell their Stocks.

Whether under all the afore-said Pressures the Company behaved themselves like true English men and Lovers of their Country ▪ will appear by a Narrative of what they have done since the publishing the Treatise in 1681, and what now is the present State of the English Interest in India.

The Company have built within th [...]se seven Years past 16 New great Ships besides many more sma [...]er one [...] now in th [...]ir [...], These 16 Ships, except one which carries but 30 Guns, may carry [...].

All of them ex [...]ept one, are three D [...]ck Ships, and are of Burden, from 900 to 1300 Tuns each.

Within the said seven Years (the Company having lost Banta [...]) They have built, fortif [...]e [...], and garrisoned three Forts in several Parts of India for security of the Pepper Trade, wh [...]ch h [...]ve and will cost them 400000 l. St [...]rli [...]g.

The Company have now at Sea, in India, and coming from thence Ianuary the last 1688, 89. the following Ships (viz.) fifteen Ships consigned to Bombay and the Coast of India, their Cargoes amounting to about 360000 l. Sterling.

Thirteen Ships consigned to Fort St George, &c. on the Coast of Choromandel, and to the Bay of Bengall, their Cargoes amounting to near 570000 l. Sterling.

And seven Ships [...], their Cargoes amounting to near 100000 l.

Besides about thirty other armed small Ships and Vessels, constantly remaining in the Country.

The Company have now upon their Hands in England unsold, above the value of 700000 l. in East-India Goods, whereas they do not know of 50000 l. value unsold in any other European Companies hands, except the Dutch Spice.

They have within seven Years so enlarged and [...] the Fort of St George, and their City of Madrass, that it is now one of the finest and largest Cities in those parts of the World, containing at least One Hundred Thousand Families of all Nations, all subject to such Laws for Life and Goods, as the Company by vertue of their Charter think [...]it to impose upon them.

The Customs and New Imp [...]st paid the King for two Years, from August 1685, to August 1687, amounted to 255326 l. 1 [...] s. 1 d. Since the Wars in India it has been less, but now the Wars are over, the Customs are like to be more yearly then they were in either of those two Years.

[Page]The Company have built new Forts in their Island of Bombay, and ordered a dry Dock to be built there, and all other Conveniencies for repairing and fitting the bigest English Ships which was the principal want the Nation under went for some Ages.

And, which is the most considerable National advantage that ever was attempted there the Company have reduced the principal part of their trade of Surrat to their own Island o [...] Bombay, the Inhabitants whereof from four thousand Families, when the Company first po [...]sessed that Island, are encreased to fifty thousand Families, all subject to the Companie [...] Laws; and that Island lying upon the North Coast of India near Surrat, the Emporium o [...] the India Trade to Arabia, Persia, Busserab ▪ and the Red Sea, is of inestimable value to this Kingdom. This Island hath cost the Company in Fortifying, Garrisoning, &c. at times above 500000 l. and never produced any return, nor would have been of use to England, if the Trade had not been brought thither. This transition from Surrat to Bombay could never have been done without a War, to make this War upon so great a Prince as the Mogul, was vulgarly thought a vain or rather distracted attempt in the Company; yet by God's blessing upon their Arms, that War (the charge whereof cannot be computed at less then 1000000 l.) has ended to the eternal honour of our Nation and a Peace concluded upon such honourable Articles, that if a Blanck had been delivered to the Company in England to write down their own Terms, they would not have desired more than is granted by the Articles, the Ratifications whereof from the Mogul himself in the Persian Language, are now brought home.

The Abstracter of the foregoing Treatise, is no East-India Merchant, nor any way concerned with the Company; Neither is he engaged in this work by any of them, but, being a great lover of his Native Country, he should be much grieved to see England l [...]sser in Naval power and Trade, then any of our Neighbours; whether they be our best FRIENDS, or our most dangerous Enemies: And therefore, being wonderfully convinced, upon the reading the aforesaid Treatise, He thought it pitty that every good English Man should not be enlightned in this Foreign Affair, as well as himself, who had formerly entertained as great prejudices against the East-India Company, as most other Men; and possibly through Ignorance, he may in his discourses, have done them some disservice, which he is sorry for: and therefore, hath contracted the aforesaid Treatise into this narrow compass, that the knowledge of the matters here discussed may spread the fu [...]ther, to the conviction of, such who are not byassed by private interest, but have been imposed upon by loud Clamour and a bold Misrepresentation of things.

For the New Question; Whether the Company should exercise Martial Law, in the Government of their Colonies in Indi [...]? No man in his Wits will make a doubt thereof [...] hath read that faithful, pleasant and profitable History of Purchas his Pilgrims, the first p [...]rt, printed in the Year 1625. wherein by the course of the History he will find that Martial Law is more necessary in India, than Bread is to the support of Mans Life; and that [...] East-India Company had constantly Commissions from the Crown for that purpose in the blesse [...] time of Quen Elizabeth, and during all the peaceable Reign of King Iames the first.

June the 25th 1686.

§

London, Printed and Sold by Andrew Sowle at the Crocked-Billet in Holloway-Lane in Shoreditch; And at the Three Keys in Nags-Head-Court, in Grace-Church-Street, over against the Conduit,, 1689.

Information about this book

Title statement

A discourse concerning trade, and that in particular of the East-Indies wherein several weighty propositions are fully discussed, and the state of the East-India Company is faithfully stated.

Child, Josiah, Sir, 1630-1699.

Edition statement

1689

Publication

Publisher

Text Creation Partnership,

Place of publication

Ann Arbor, MI ; Oxford (UK) :

Date

2004-05 (EEBO-TCP Phase 1).

ID [DLPS]

A69858

ID [STC]

Wing D1590

ID [STC]

ESTC R8170

ID [EEBO-CITATION]

11981447

ID [OCLC]

ocm 11981447

ID [VID]

51856

Availability

This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal. The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission.

Series

Early English books online.

Notes

(EEBO-TCP ; phase 1, no. A69858)

Transcribed from: (Early English Books Online ; image set 51856)

Images scanned from microfilm: (Early English books, 1641-1700 ; 59:3 or 275:15)

Source

— A discourse concerning trade, and that in particular of the East-Indies wherein several weighty propositions are fully discussed, and the state of the East-India Company is faithfully stated., Child, Josiah, Sir, 1630-1699..

Extent

11 p.

Printed and sold by Andrew Sowle ...,. London :: 1689.. (Caption title.) (Attributed to Josiah Child. Cf. BM.) (Imprint from colophon.) (An abstract of: A treatise wherein is demonstrated, I. That the East-India trade is the most national of all foreign trades / J. Child. London, 1681; and, A supplement, 1689, to a former treatise, concerning the East-India trade / by an anonymous abstracter, who describes himself (p. 11) as "no East-India merchant, nor in any way concerned with the Company." London, 1689.) (This item appears at reel 59:3 as Wing C3854 (number cancelled in Wing CD-ROM, 1996), and at reel 275:15 as Wing (2nd ed.) D1590.) (Reproduction of original in Columbia University Library and Yale University Library.)

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