A Short History of the East India Company

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Excerpt from A Short History of the East India Company: Exhibiting a State of Their Affairs, Abroad and at Home, Political and CommercialSuch was the Rate of things in 1693, when the Company, by an accidental Failure in the Payment of a paltry Duty which had been impofed on their capital Stock, gave an opening to Government to determine their Charters For, by the Aft which impofed that duty, any default in payment, within the time therein limited, rendered their Charters fuozd: And though, in the fame year, the Crown, to obviate all doubts, revived their Powers and ex elufive Privileges by a new Chattel, the Company were obliged to fubmit to a eondition that their Capacity and Trading lhould in future be detezmmaéle on Thee Hart Notice. The legal obfiacle to the ereétirrg a new Company being thus removed, an A& was pa¿'ed in 1698 for borrowmg Two Mllzom on a Loan at 8 per Cent. Towards carrying on the War, and as an encouragement to Subfcribers, it was declared, that they ¿iould be incorporated by a Charter from the King into a General Soaety, with liberty for each 1nd1v1dual Member to trade to India and the other llts of the Old Company's exclufive Charter 5 (0 that the value of his Exports exceeded not his Share of this Loan or Capital, and that fuch of the Subferibers as fhould choofe to convert their Subfcriptions into a jomt Slade, {hould be at liberty to do fo, and be incorporated by a fipamte (711m fer by the name of Enghjb ea/z Imfia Campaigy, th the privilege of trading with and to the amount of fuch jomt Stock. All perfons but thofe incorporated, and fuch as they fhould licenfe, were prohibited from this Trade, except the Old Company, who had time glven them to Wind Up their Corn mercial Affairs. The Aa: refeived a power to determine the Charters both of the General Society and the New Company after September 1711, 012 Repay ment of [be Loan, and 711m: Tears noficc'.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.