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 CORRVPTIONS , 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 .