REASONS Humbly offered to the Honorable HOUSE of COMMONS, By the Free Traders of ENGLAND, Against the IMPOSITION desired by the Creditors of the Hamborough-Company, to be laid on all Goods coming from any Part between the Schau and Callice, for the Discharging of the said Companys Debts.
1, THAT we are informed, that the said Debt was Contracted by reason of great sums of Moneys lent and given to our former Kings, or their Ministers, and to those in Authority in the Times of the late Troubles, for the Maintaining of their Patent, which was then called into question, as prejudicial to the Trade, but especially to the Manufactury of the Nation.
2. Wherefore we judge it unreasonable, that all German, Flemish, and Holland Goods, brought in by others his Majesties Subjects, that are not of the said Company, should be charged towards the payment of those Debts which were Contracted by the said Company, for their particular advantage only.
3. By this Artifice, the said Company do tacitely insinuate themselves into a kind of owning or approving of their Patent by Parliament; which we humbly conceive, not to be the intention of this Honorab [...]e House: but on the contrary, we hope the Parliament will look upon it as a Monopoly, and judge it prejudicial to the Nation, to have their Patent owned by which they pretend a Right to be the Sole Exporters of our Woollen Manufacture, to the places within their Patent; which doubtless they will put in Execution, with the utmost Rigor, if o [...]ce their Patent comes to be owned by Parliament.
4 But, if besides this, they could so settle their Patent, as to have the Sole Importation of all manner of Goods, out of the Countreys mentioned in their Patent, which hitherto hath been Free for all men, we humbly desire the Honorable House of Commons, to consider the prejudice the Nation would receive thereb [...]: for, if one Company, how great or numerous soever, have the sole Exportation of our Manufacture [...]o so considerable a part of the World; and the sole Importation of all Commodities from so considerable a part of the World, they may by their BY-LAWS so Combine together, as to buy our Manufacture at as low a Rate, and to sell the Comodities they port, at as high a Rate as they please, and so Enrich themselves, to the Impoverishing of t [...]e Nation.
5. But, to shew that the Imposition it self is of prejudice to the Nation, in regard it wo [...]ld be too tedious to instance in all Commodities, we will only instance in that one Commodity of Linnen: All [...]innen from Germany, Holland, and Flanders▪ have already very high Customs and Duties laid upon them, amounti [...]g in some sorts to 20. in some to 15. in some to 12. per Cent. and those that pay least pay above 10. per Cent. of [...]he vallue which is much higher than the Dutyes on any other sort of Linnen, and in particular the French Linnen; Whereas most of the Linnens from Germany, Flanders and Holland are bought with the product of our Manufacture, and ought therefore to be the more encouraged; whereas, on the contrary, most (if not all the F [...]ench Linnens are bought with ready Mony, and are not the Returns of the product of our Manufactury, in regard the French King hath laid so great an Imposition on our Manu facture, that hardly any of it is transported into France.
6 But, if yet more Impositions be laid on those Linnens, it will more increase the Impor [...]ation of French Linnens, and consequently more enrich France, and more obstruct the bringing in of Linnens from G [...]rmany, Holland and Flanders, and consequently the Consumption of our Manufacture: For if they cannot vend thei [...] Linnen, they cannot buy our Manufacture: but on the contrary, as they find the Linnen Manufactures to decay, t [...]ey will be necessitated to fall upon making Woollen Manufactures, and will in time need none of ours.
7. This new Imposition would diminish his Majesties Customs, for about ⅓ of the Linnen t [...]at come from Germany, Flanders, and Holland, are again Exported, to Ireland, to the Canaries, and to other Western Islan [...]s, and to our Colonies and Plantations in the West Indies, upon which, when so Exported, his Majesty doth Retain declaro ha [...]f the Customs: now if this new Imposition be laid upon them, the Duties will be so high, that there can be none Export [...]d, but the above mentioned places will be furnisht at cheaper Rates from Holland, Hamburg and Flanders, and cons [...]quently his Majesty will lose all that part of the Customs, which he now keeps of the said Linnens, which after Importation are again Exported. Now in regard there will be scarce any Exportation, because the Duties will be so exceeding high, it will be worth the while to run them on Shore, and so defraud his Majesty of the whole Custom, to the great diminution of his Majestys Revenue; whereas at present, because half the Custom and the whole Additional Duty is returned at the Exportation, no man endeavours to save Custom, because he then loses that benefit at the Exportation.
8. We humbly desire the Honorable House of Commons to consider whether if they make a Presid [...]nt of paying this Companies Debts, it may not become the Case of the Companies of London, who have borrowed Mone [...]s upon their Common Seal, and of all Corporations, and the Chamber of London it self, and whether the Bankers a [...]d others that have lent, and may hereafter lend vast Sums of Money, may not hope for the like Favour? the conseque [...]ces of which the Honorable House of Commons will be best able to judge.
9. To lay a Tax upon Goods, would make all men leave of their Trades in the Company, and drive th [...]r Trade in Dutch Bottoms, or in some Marts or Towns as are out of the Companys Priviledges.
10. This very Debt, was, by a Committee of the House of Commons, 21. Jac. Voted to be fully sa [...]sfied, and a Sum over and above, and the Charter of the Hambrough Company a Grievance, both in the Creation and E [...]ecution of it; and will the Parliament in their Legislative own to make that good by an Act.