COmmunities, i. e. humane Beings collected for common good, or Bodies politick are beſt repreſented by the Body natural. And Trade, as means to the Life, the ſtrength, and beauty thereof, may be reſembled to good blood in it; which in circulation is the chief Succour and Health of the whole, and with moſt ſpeed runs to relieve the wounded or meaneſt part; When therefore upon any Stop, be it by contraction or otherwiſe, we ſeek to remove the obſtruction, or apply for regular motion, we do not endanger the Trade, but ſubſerve it, and the proſperity of the Community: As, we hope, will appear when our Reaſons (moſt humbly offered) are conſidered.

Why a new Subſcription unto a Joynt-Stock to be managed by a regulated Company will improve the Trade of the Eaſt Indies unto National Advantage beyond what it is at preſent?

REASON I. Becauſe though this Trade, once but the Fortieth, be now increaſed to be in value the Fourth part of the Trade of this Nation, yet it doth now ſupport, or entertain fewer perſons as Proprietors, than it did when the Company was firſt ſettled. The Stock not being encreaſed by new Subſcriptions in proportion to the Trade; for continuing 375000 l. (upon which all Sales and Dividends are made) the Adventurers inſtead of being increaſed to 9000 proportionable thereto, are reduced from 900 as they were at firſt, to 550. Now as Joynt is requiſite to make a Stock in this Trade profitable, ſo extenſion to Perſons is neceſſary to make it National.

II. Such are the CORRƲPTIONS, grown up with time in the management of this Trade, that the major part of the Gains is divided among Forty men, and the whole Adminiſtration or Command in the hands of Ten, I had almoſt ſaid One man; Whence a Particular Intereſt is carried on under the name of a Publick.

III. The Method now uſed in carrying on the Trade, by taking up 6 to 700000 l. on a Common Seal, at Intereſt, (no Member of the Company being oblig'd for payment) is not only indirect & dangerous (in that they ſeldom have in England near the value they owe, and there is a poſſibility their Ships may miſcarry) but alſo very unequal to the Subject. The Company reaping from 50 to 60 per Cent. profit thereby; whereas the Lenders have but 3 or 4 per Cent for Intereſt and Hazard.

IV. The Major part of Merchants and many other people of our Nation are excluded Trade, if not admitted into This. Some being Minors or unborne when this Company was ſetled, and others have their Trades ſwallowed up by This; As Linens from Hambrough, Flanders, Holland and France; Taffeties from Italy and France, and in part our Manufacture at home.

V. This Company, finding great Gaines by appropriating this Trade to a few, do hinder the Inlarging thereof to ſundry Places in India, &c. to which nothing can conduce more, than the inlarging of Stock and number of Perſons therein. It being certain that if it were ſo increaſed to two Millions (of which the Trade is capable) and a Regulation anſwerable, it would employ, as more Men and Ships in the Indies, ſo in all other places of this Trade; Augment Cuſtom to his Majeſty, and be of great advantage to his People in general.

VI. It agreeth, as with the Argument uſed to obtain a Grant of this Charter, ſo with their Preamble or the Act of a General Court, viz. That they ſhould at the end of ſeven years ballance their Books, and open them for new Subſcriptions: A thing they never yet did, except in ſuch ſallacious ways, that no one perſon, upon reaſonable Terms, could go in or out. By which, be it neglect or deceit, they keep Supſcription from us: although it be our indubitable Right, if not in the intent of their Act, yet, in the Intendment of his Majeſtie's Grant, as it was the Motive of it.

VII. The Primitive Practiſe of this Company and the Reaſon thereof requireth now a New Subſcription. For when 750000 l. was at firſt ſubſcribed, the half only was paid, being as much as the Trade then required. The ſame reaſon, now two Millions is requiſite, doth direct unto the way for Supply, not by borrowing, but by opening for Subſcriptions: This being the moſt natural, becauſe primitive, way for it. And whereas this Company take Money at Intereſt, and decline calling in the other half ſubſcribed by their own Members; it ſhews that the Regency is in them, who have abſolutely ſubjected every thing to their own particular Intereſt.

VIII. Whereas it is unuſual to allow, as Motive or Reward, unto Invention or Diſcovery, other than ſome certain Term of 10 to 15 or 20 years: Yet this Company, though not Diſcoverers of this Trade, have enjoyed it 24 years (in 10 of which they made 7 for 1 of their Money) which may be conceived ſufficient Reward for what Service they pretend to have done their Countrey.

IX. If by opening this Trade to JAPAN, to CHINA, or otherways, it ſhould become double or treble what it is, moſt likely, without a new Settlement, the deſire of Gain will then effect a Paucity of Adventurers (the natural Effect of this Cauſe which uſually increaſeth as a Gainful Object is increaſed) It having gradually ſo done ſince the time it began to advance in Anno 1666. For no man had of this Trade 4000 l value in Anno 1665, but now ſome have 40000, others 50000, another 100000 l. in it. Of like produce the deſire of Security will be, in that an Ingroſs of the Stock giving them the Management, they will have for their Security the Stock and the Nations Money, borrowed on a Common Seal; which upon Misfortune affects not their Particular.

X. Many Perſons, partly through decay of other Trades, but chiefly to bring This to a Reaſonable and National Settlement in a Joynt Stock, have engaged in Interloping; who having met with Profit, will ſcarce deſiſt that way, unleſs this be opened to them. And ſhould they be denyed Freedom to unlade and ſell here, their going to Foreign Ports may excite to that which in the Iſſue may divert in part or otherwiſe prejudice the India Trade of this Kindom. To obviate which Miſchief (by the two Ships now ſo imployed) it ſeems requiſite to give them admittance here. Whereby His Majeſty will receive his Cuſtomes; and the Interlopers by being Subſcribers into the New Joynt Stock or by other means (when they are here beſt to be uſed) may be prevented for the Future. And we conceive the Equity and Uſefulneſs of ſuch a New Charter as makes the Trade National, will give it the Force of Law, an effectual Bar to Interloping, which the preſent cannot be, becauſe it incloſeth Trade not for, but from the People; and being pernicious to the Kingdom, whoſo ſhall practiſe as theſe do with it, are indictable at Common Law.

XI. It will be very ſevere that the Turkey Merchants ſhould have no Admittance into this, ſo like to ruin theirs; when they have deſerved well, by carrying on a Trade which (though leſs Profitable to themſelves) Exporteth yearly of Our Manufacture 400000 l. and Importeth Goods for a farther Manufaction, whereby the Nation gaineth 600000 l. per annum.

XII. Admiſſion into this Trade any other way will be either difficult, or as none unto the purpoſe of general ſatisfaction and Intereſt; As Purchaſe is, being when and at what Price the Seller will, like to that of Lands: Whereby the approved and uſual allowed freedom of Admiſſion into Trade is deſtroyed. Alſo Experience ſheweth, that ſince the advance of this Trade the great Sharers therein accumulate more and more; it is only ſome ſmall Sums in Sale eſcape their hands. And if more did, it would be but the exchange of AB for CD. A thing not ſubſerving the King's or Kingdom's Intereſt in addition of Stock, or of number to Perſons in this Trade. And in that it is by Purchaſe and not by his Majeſties Grace, our Loyal Hearts reſent it, as A grievous common Nuſance. The rather, for that the moſt needy of his Royal Help (who be the Objects of his Pity) are for ever excluded, becauſe they have not Money to buy 100 l. at the Rate it now goes; and a leſs Sum, original Stock, is ſeldom, if ever, to be met with.

XIII. This Company as well by ſending to Eaſt India, Dyers, Weavers, and Throwſters, with Inſtruments for the ſetting up of Manufactures abroad, as by the contraction of this Trade to few Perſons, the inequality which ariſeth by carrying on the Trade with Money at Intereſt, Their private Trade, their owning of Ships (which chiefly belong to a few of them) their refuſing to inlarge the Stock by new Subſcriptions, and by other undue practiſes at home, are degenerated form their Primitive Nature, and have perverted, to particular advantage, his Majeſties Charter granted for general Good: therefore ought not to be continued Sole Poſſeſſors of ſo profitable a Trade, in oppoſition to the deſire and Intereſt of the Nation in general; as it is to the Opinion and Conſent of the Majority of themſelves in particular.

XIV. As by Contraction the Company do rob his Majeſty of his Treaſure in this Stock, ſcilicet, the Perſons and Good of his People in general, ſo by long continuance have well nigh forgot his Majeſty's Favour, the Nature of their Tenure. This Trade they deem as their Money, and name it their Perſonal Eſtate, in bar of the great Charter by which a People depend on their Prince as a Common Father. Whereby, obſcuring or obſtructing his Majeſty's Beneficence, they cool the fervour of his Subjects Affection and Duty to him.