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power in the East has opened the way to the interior of India. It has tended greatly to enlarge our knowledge of this distant region; and if more accurate inquiry has reduced the marvellous tales of its glory and greatness within the bounds of sobriety and truth, Hindustan,-the seat of industry, of commerce, and of the arts, when Europe was sunk in barbarism, the scene of many eventful revolutions, from the Mahomedan invasion till its conquest by the armies of Britain, and inhabited by a people of peculiar manners, laws, institutions, and religion, still presents a wide field for interesting inquiry and speculation."

On the present occasion, however, our design is but limited. It is proposed to trace the origin, history, and progress of the British trade with India, or, in other words, to follow the fortunes and adventures of a small company of merchants trading to India with limited means, and surrounded by difficulties of no common order, until we find them the sovereigns of a vast empire. In this sketch, our chief authorities are Macpherson's History of European Commerce with India; Bruce's Annals of the East India Company; Mill's History of British India; with occasional references to the works of Thomson, Auber, and other modern writers on this extensive subject.

SECTION 1.

ORIGIN OF BRITISH COMMERCE WITH INDIA. THE MERCHANT ADVENTURERS. PREPARATIONS FOR THEIR FIRST VOYAGE.

The first trading establishments in India were formed by the Portuguese, in consequence of the facility with which that country was attained by the passage round the Cape of Good Hope, discovered by Vasco de Gama in the year 1497. During more than a century, that people remained without a rival in this lucrative branch of commerce, and continued to supply Europe with those commodities of the East which at that time were held in such high esteem.

The splendid fortune thus acquired by Portugal excited the envy and emulation of other European nations. The Portuguese had long kept the newly-discovered passage to India secret, or invested it with terrors which did not belong to it. The Dutch attempted to discover a new and more expeditious passage to India, but in this they failed. An accident, however, supplied what their industry had in vain attempted to acquire. A Dutch seaman, of the name of Houtman, who, in the year 1594, was confined for debt at Lisbon, had made several voyages to India in Portuguese ships; he offered to the merchants of Amsterdam, that, if they would pay his debts, and release him from confinement, he would conduct a fleet by the Cape of Good Hope, and introduce his countrymen to the Indian commerce. This was agreed to, and in 1595, Houtman sailed with four ships, and arrived safely at Bantam, where he found the Portuguese at war with its king. Having rendered effectual service to this chief, he obtained permission to build a factory, and then returned to Europe with three of his ships richly laden with spices and other Indian produce. This success led to the formation, in 1597, of "The Society for Trade to Distant Countries ;" and, in 1602, to the consolidation of the several societies of East India adventurers into the "Dutch East India Company."

The English had also engaged in many attempts to discover a passage to India. During the reign of Elizabeth, commerce rose into importance; and the nation could not behold the success of Portugal without an eager desire to share it. It is stated that, so early as the year 1527, an English merchant, named Robert Thorne, who had resided for many years at Seville, and had acquired particular knowledge of the intercourse which the Portuguese had opened with the East, presented a project to Henry the Eighth, the accomplishment of which he imagined would place his countrymen in as favourable a condition as that of the Portuguese. As that nation had obtained a passage to India by a course to the south-east, and pretended a right, which they defended by force, to its exclusive occupation, he supposed that his countrymen might reach the same part of the globe by sailing to the north-west, and thus obtain a passage at once expeditious and undisputed. This representation may probably have influenced the two attempts which were made in the reign of Henry the Eighth to discover a north-west passage, but as they were unsuccessful, our commercial navigators determined to try their fortune in a north-east direction. The proceedings of Sir Hugh Willoughby and Chancellour have already been nar

rated; the former perished miserably in Russian Lapland; but the latter, if he did not open an East Indian trade, at once prepared the way for an active and lucrative commerce with Russia.

After the failure of this and other attempts to discover a north-east passage to India, the project of obtaining a passage by the north-west was ardently resumed. In the course of a few years, no fewer than six voyages were made, an account of which will be found in our notice of Frobisher and Davist. But all these attempts being unsuccessful, the English resolved to set the pretensions of the Portuguese at defiance. A voyage to China, by the Cape of Good Hope, was undertaken in 1582; another expedition was fitted out in 1596; but these enterprises were not attended with success.

The eminent success, however, which attended the voyages of Drake inspired the nation with hope and confidence. That great navigator, having obtained the command of an expedition prepared on a great scale, sailed from Plymouth in December, 1577.

Having passed the Straits of Magellan, and committed some ravages on the western coast of Spanish America, Drake did not return in the same direction, lest he should meet the Spanish fleet; he therefore determined to attempt to return home by the north-west passage. He accordingly sailed as far as the coast of California (of which he claimed to be the discoverer, calling it New Albion); but finding his main object impracticable, he formed the bold design of crossing the Pacific Ocean, and regaining England by the Cape of Good Hope.

The boldness of this project may be appreciated from the fact, that Magellan alone had preceded Drake in this immense navigation, and he had encountered numerous disasters. With the solitary ship that remained of his fleet, Drake arrived safely in the Indian seas, and beheld the islands from which the Portuguese furnished to Europe the rich spices and other costly productions of the East. Having ascertained that the Sovereign of Ternate was at enmity with the Portuguese, he steered for that island, and there commenced those commercial transactions which have since led to such important results in the history of the world. The king (whose power extended over seventy islands, besides Ternate) being assured that his new visitors had no other object than that of trade, gave them a most welcome reception; they exchanged presents with him, and received him on board; they traded with his people, laid in a valuable cargo of spices, and became acquainted with numerous particulars respecting this much-envied commerce. They visited many of the islands, and were as much astonished at their prodigious fertility as at the magnificence of the court and the manners of the inhabitants.

Drake and his companions were now about to enter upon that route to which the Portuguese claimed a peculiar right. They had heard much of the dangers and horrors attending the navigation round the Cape of Good Hope; but, to their delight and astonishment, the passage was safe and easy, and convinced them more than ever of the advantages enjoyed by the nation that engrossed it. They arrived at Plymouth in September, 1580.

The success of Drake was most welcome news to the English, and served to confirm their passion for maritime adventures. A number of men of rank and fortune embarked their persons and properties in dangerous expeditions. Among them may be named the Earls of Cumberland and Essex, Sir Richard Greenville, Sir Walter Raleigh, Sir Humphry Gilbert, Sir Robert Dudley; but perhaps the most important, from its consequences, was the expedition of Cavendish, who, following the track which Drake had opened, explored the intricate navigation of the Indian Archipelago, and made an immense number of observations calculated to facilitate a repetition of the voyage to himself or his countrymen. The wealth which these celebrated navigators brought to England, in consequence of making prizes of Spanish and Portuguese vessels, inflamed the imaginations of English merchants, who regarded India as the source of boundless wealth. In the expedition to the coast of Spain, on which Drake was sent to prevent, as far as possible, the preparations for the Invincible Armada, some very rich captures were made, all tending to impress on our merchants the value of a direct trade with India.

An application was therefore made to Government by the English merchants in October, 1589. They presented a memorial to the Lords of Council, praying for permission to * See Saturday Magazine, Vol. XIX., p. 199.

↑ Ibid. Vol. XXI., pp. 21, 65.

send three ships and three pinnaces on a voyage to India. They enumerated the different places at which the Portuguese had effected settlements on the coasts of Malabar and Coromandel, in Malacca, and in the Banda and Molucca islands; and stated that the islands and shores of the Indian Ocean presented many other places which might be visited with advantage by English ships.

This memorial appears to have been favourably received, for, in 1591, Captain Raymond, with three ships, was sent on an expedition, which is remarkable as being the first of which India was the immediate destination. The result of this voyage was most disastrous; but the knowledge acquired by Captain James Lancaster, the survivor, was sufficient to keep alive the hopes of speculators at home, and induce them to embark in similar projects.

In the year 1596 Queen Elizabeth granted to Richard Adam and Thomas Bromfield, merchants and citizens of London, letters to the Emperor of China, recommending those merchants to the emperor's protection, and vouching for the probity of their dealings. The queen expressed her desire to be informed of those institutions by which the empire of China had become so celebrated for the encouragement of trade; and, in return, offered the fullest protection to the subjects of China, should they be disposed to open a trade to any of the ports in her dominions.

At length the English merchants being stimulated by the example of the Dutch, resolved to embark in the East India trade with a vigour due to its importance. In 1599, an association of merchant adventurers was formed, who agreed to embark, what was then considered a large stock, on a voyage to the East Indies. The contract of these adventurers, citizens of London, is the first authentic deed which occurs in the annals of our East India trade. It is entitled, "The names of such psons as have written with there owne handes, to venter in the ptended voiage to the Easte Indias, (the whiche it maie please the Lorde to prosper,) and the somes that they will adventure; the xxij September, 1599." The fund subscribed amounted to 30,1337. 6s. 8d., and consisted of 101 shares; the individual subscriptions varying from 100%. to 3000l. The precision which marked the first proceedings of the subscribers, proves that the project had already been matured, and was ready to be carried into immediate execution. A Committee of fifteen, the origin and foundation of a Court of Directors, was chosen to manage; and it was agreed to petition the queen for a warrant to fit out three ships, and export bullion, and also for a charter of privileges. The petition stated, that "divers merchants induced by the successe of the viage performed by the Duche nacon, and being informed that the Duchemen prepare for a new viage, and to that ende have bought divers ships here, in Englande, were stirred with no lesse affeccon to advaunce the trade of their native countrie, than ye Duche merchaunts were to benefite theire commonwealthe, and upon yr affecčon have resolved to make a viage to the East Indias;" they therefore requested that they might be incorporated into a company, with succession, "for that the trade of the Indies being soe remote, could not be traded on, but on a jointe and united stock;"-that their shipping should not be stopped, "as the delay of one monthe might lose a whole yeare's viage;"-that they might be allowed to export foreign coin, and if there should be a want of it, that bullion should be coined for them in the Queen's Mint;—and that they should be exempted from payment of customs for six voyages, on the ground that the Dutch merchants were exempted, for several years, from payment of customs on export or import.

The petition appears to have been favourably received by the Privy Council; but as a treaty was then pending with Spain, delay seemed to be advisable. The subscribers, or, as they were then called, the “adventurers,” became impatient, and presented a memorial pointing out the places with which the Spaniards and Portuguese had established an intercourse, and naming others which the English proposed to visit without at all interfering with the rights or claims of their rivals in the trade. The Council replied, that "it was more beneficiall for the generall state of merchandize to entertayne a peace, then that the same should be hindred by the standing wth ye Spanishe comissions, for the mayntayning of this trade, to forgoe the oportunety of the concluding of the peace.' The memorial was referred to Sir Foulke Greville, who made a favourable report to the Secretary of State; and the Queen sent an ambassador overland by Constantinople on an embassy to the Great Mogul, to solicit the necessary privileges; but the

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success thereof was small, for the Portuguese and Venetian agents succeeded in raising suspicions against the designs of the English.

In September, 1600, the adventurers renewed their efforts, and succeeded in gaining the consent of government to prepare for the voyage. The management of the business was intrusted to seventeen Directors, who, on the 23rd of September, held the first Court of Directors of the East India Association. On the 25th, the ship Susan was purchased for 1600/., and this was the first ship engaged in the service of the East India Company. On the next day it was agreed to purchase two other ships, the Hector and the Ascension.

While the charter of the company was yet under consideration by Government, an application was made by the Lord Treasurer to the Directors for the employment of Sir Edward Michelbourne in the expedition. The Directors, however, with considerable independence, refused, stating it as their resolution "not to employ any gentleman in any place of charge," and requested "that they might be allowed to sort theire business with men of their own qualitye, lest the suspiccon of the employ of gentlemen being taken hold uppon by the generalitie, do dryve a greate number of the adventurers to withdraw their contributions."

As the season was advancing, the adventure was prosecuted with ardour. By the 8th of October, 1600, five ships were provided; namely, the Malice Scourge (subsequently named the Red Dragon), of two hundred men, and six hundred tons burthen; the Hector, of one hundred men, and three hundred tons burthen; the Ascension, of eighty men, and two hundred and sixty tons; the Susan, of eighty men, and two hundred and forty tons; and a pinnace, of forty men, and one hundred tons. As the period of the voyage was calculated at twenty months, the cost for provisioning these ships was computed at 6600l. 4s. 10d.; the cargo, consisting of iron and tin, wrought and unwrought, of lead, broad cloths of all colours, Devonshire kerseys, Norwich stuffs, and some smaller articles, chiefly intended as presents, was estimated, exclusive of bullion, at 45457. It was agreed that thirty-six factors, or super-cargoes, should be appointed for the voyage, divided into separate classes, rising above one another in trust and emoluments. The charges for the officers commanding these ships, though not stated as a general article of expenditure, may be judged of from the allowances granted to Captain Davis, appointed to the command of one of them; he was to have 1007. wages, and 2007. on credit for an adventure; and as an incitement to activity and zeal in the service, if, on his return, the profit of the voyage should yield two for one, he was to be allowed 500l., if three for one, 1000l., if four for one, 1500%., and if five for one, 20007., or, according to the mercantile ideas of the time, his remuneration was to correspond in its amount with his exertions and success. thirty-six factors, or super-cargoes, were also allowed each a sum of money for an adventure. These factors were to give separate securities for fidelity, and, for what was foreseen to be the greatest risk which the concern had to fear, that they would abstain from all private trade, that being deemed the most probable source of breach of trust.

Captain James Lancaster was appointed to the Red Dragon, and made general or admiral of the fleet; and Captain Davis second in command, under the title of Pilot Major. The adventurers ordered, "that the goodes shipped by the Companie, and the caskes, shall be marked wth this gen'all marke, as in the mergent, and that an iron be prepared, we shal make the saide marke."

SECTION 2.

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THE COMPANY'S FIRST CHARTER OF INCORPORATION. THEIR FIRST VOYAGE. THE QUEEN'S LETTERS OF RECOMMEN

DATION.

On the 31st of December, 1600, the charter of privileges was obtained. "This charter," says Mr. Mill, "the origin of a power so anomalous and important as that which was afterwards accumulated in the hands of the East India Company, contained nothing which remarkably distinguished it from the other charters of incorporation, so commonly in that age bestowed upon trading associations." By this charter the Queen, "for the honour of the nation, the wealth of her people, the encouragement of her subjects in

their enterprises, the increase of navigation, and the advancement of lawful traffic," constituted the petitioners a body corporate and politic, by the name of The Governor and Company of Merchants of London, trading to the East Indies, and vested them with the usual privileges and powers. The management of their concerns was placed under a Governor and twenty-four Committee-men, to be annually chosen in July, in each year. The privilege of trading to the East Indies, that is, to all places beyond the Cape of Good Hope and the Straits of Magellan, was bestowed upon the company; but a reservation was made in favour of the rights granted to other associations, with a prohibition extending to all such places as might be already occupied by the subjects of states in amity with her majesty who should object to rivals. Power was granted to export in each voyage the sum of 30,0007. in gold and silver; also English goods for the first four voyages, exempt from duties, and to re-export Indian goods in English ships under the same privilege, until the expiration of the charter. As was customary in those times, the privileges of the company were rendered entire and exclusive, and all other the queen's subjects were prohibited from any interference with them, except by the company's license, under penalty of forfeiture of ships and goods, one half to the queen, the other to the company, and imprisonment until they gave bond for 10007. The company were empowered to grant licences to any persons to trade to the East Indies, and the queen engaged not to grant such licences to any person for that trade, without the consent of the company; the company engaged to bring into England as much bullion as they carried out; the only reservation made by this charter was, that should the exclusive trade of the company not be profitable to the realm, the crown reserved the right of declaring such exclusive privilege to be void, on a notice being given to the company, under the Privy Seal, of two year's warning; but even this reservation was modified by specifying that on a petition from the company, the said exclusive privileges should be continued to them for fifteen years longer.

The equipments for the first voyage had been prepared, and the commanders and factors had been appointed, when an unexpected difficulty arose. While the project was in contemplation, the list of subscribers was readily filled up under the impression of large profits; but, as Mr. Mill remarks, "the ardour of individuals, where anything is to be risked, is more easily excited than upheld;" for when the project came to be acted on, many of the subscribers refused to embark their fortunes in the speculation until they had witnessed the result of the first experiment. The directors acting under the charter either had not power to compel the subscribers to pay up their instalments, or they deemed it imprudent to exercise this power. Instead, therefore, of exacting the stipulated sums, and trading as a joint-stock company, the subscribers who had paid were invited to take upon themselves the expense of the voyage, and to reap the whole of the profit.

The funds provided for the first voyage amounted to 68,3731., a sum which greatly exceeded the amount originally subscribed. Of this, 39,7717. was expended in the purchase and equipment of ships; 28,7421. was expended in bullion, and 68601. in goods. The choice of Captain Lancaster to command the fleet was affirmed, and it sailed from Torbay on the 2nd of May, 1601, carrying letters of recommendation from the queen to the sovereigns of the different parts to which it might resort. As these letters were general, and served as the foundation of all the recommendations which were afterwards given by the crown to the persons delegated by the London East India Company to manage their concerns in the countries within their limits, they will be read with interest:

"Elizabeth by the Grace of God, Queene of England, France, and Ireland, Defender of the Faithe, &c. To the Greate and Mightie Kinge of our lovinge Brother, greetinge: "Whereas Almightie God, in His infinite wisdome and providence, haith so disposed of His blessings, and of all the good things of this world, which are created and ordained for the use of man, that howsoever they be brought forthe, and do either originallie growe, and are gathered, or otherwise composed and made, some in one countrie, and some in another, yet they are, by the industrie of man, directed by the hand of God, dispersed and sent out into ali parts of the world, that thereby His wonderfull bountie in His creatures may appeare unto all nations, His Divine

Mate havinge so ordayned, that no one place should enjoy (as the native commodities thereof) all things appteyninge to man's use, but that one countrie should have nede of another, and out of the aboundance of the fruits which some region enjoyeth, that the necessities or wants of another should be supplied, by which meanes, men of severall and farr remote countries have commerce and traffique, one with another, and by their interchange of commodities are linked together in amytie and friendshipp.

"This consideration, most noble kinge, togeather with the honorable report of your Maie for the well enterteyninge of straungers which visitt yo' countrie in love and peace, (wth lawful traffique of merchaundizinge,) have moved us to geave licence to divers of or subjects, who have bene stirred upp wth a desire, (by a long and daungerous navigation,) to finde out and visitt yo territories and dominions, beinge famous in theise partes of the world, and to offer you commerce and traffique, in buyinge and enterchaunginge of commodities wth our people, accordinge to the course of merchaunts; of web commerce and interchanging yf yor Mate shall accept, and shall receive and entertayne or merchaunts with favour, accordinge to that hope weh hath encouraged them to attempt so long and daungerous a voiadge, you shall finde them a people, in their dealinge and conversation, of that justice and civilitie, that you shall not mislike of their repaire to yor dominions, and uppon further conference and inquisition had with them, both of theire kindes of merchaundize broughte in their shippes, and of other necessarie commodities weh or dominions may afforthe, it may appeare to yor Mate that, by their meanes, you may be furnished, in their next retourne into yo' portes, in better sort than you have bene heretofore supplied, ether by the Spanyard or Portugale, who of all other nations in the partes of Europe have onlie hetherto frequented yo countries with trade of merchaundize; and have bene the onlie impediments, both to our subjects, and diverse other merchaunts in the partes of Europe, that they have not hitherto visited yor countrie wth trade, whilest the said Portugales pretended themselves to be the soveraigne lordes and princes of all yo' territories, and gave it out that they held your nation and people as subjects to them, and in their stiles and titles, do write themselves kinges of the East Indies.

"And yf yor Mate shall in yor princelie favour, accept wth good likinge, this first repair of our merchaunts unto yo countrie, resortinge thether in peaceable traffique, and shall entertayne this their first voiage, as an introduction to a further contine waunce of friendshipp betweene your Ma and us, for commerce and intercourse between yo subjects and ours, wee have geaven order to this, our principall merchaunt, (yf yor Male shall be pleased therewith,) to leave in yor countrie some such of our said merchaunts as he shall make choice of, to reside in yo dominions, under yo princelie and safe protection, until the returne of another fleete, we wee shall send unto you, who may, in the meane tyme, learne the language of yo countrie, and applie their behavior, as it may best sorte, to converse with your Males subjects, to the end that amitie and friendshipp beinge entertayned and begun, the same may be the better continewed when our people shal be instructed how to direct themselves accordinge to the fashions of yor countrie.

"And becawse, in the consideration of the entertayninge of any tie and friendshipp, and in the establishinge of an entercourse to be continewed betweene us, there may be required, on yo Mais behaulfe, such promise or capitulations to be performed by us, which we cannot in these our letters, take knowledge of, we therefore pray your Male to geave eare therein unto this bearer, and to geave him creditt, in whatsoever he shall promise or undertake in our name, concerninge our amitye and entercourse, weh promise, wee and wil be readie gratefullie to requite anie love, kindness, (for our parte) in the word of a prince, will see performed, or favour, that our said subjects shall receive at your Maies handes; prayinge yor Maie that, for or better satisfaction of yo kinde acceptance of this our love and amytie offered yo highness, you would by this bearer, give testymonie thereof, by yor princelie letters, directed unto us, in weh we shall receive very great contentement. And thus," &c.

The first voyage, though attended with numerous disasters, was by no means discouraging to the prospects of the East India Company. The first place in India to which the fleet repaired was Acheen, a principal city in the island of Sumatra, where they were favourably received: they formed a treaty of commerce with the sovereign of the place, obtained permission to erect a factory, and took on board

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cargo of pepper. They then proceeded to the Moluccas, and in the straits made a rich Portuguese prize, containing spices sufficient to lade the fleet. At Java, the captain delivered letters and presents, and being favourably received, he left some agents, the first rudiments of the company's factories; and returned to England in September, 1603. The details of this voyage, which are full of interest, are given in The Saturday Magazine, Vol. XXI. p. 227.

SECTION 3.

NOTICE OF OTHER VOYAGES. OPPOSITION BY THE PORTUGUESE AND DUTCH. ESTABLISHMENT OF THE FACTORY AT SURAT.

The results of this first voyage were sufficient to convince the adventurers of the practicability of establishing the trade. The same ships were therefore got ready for a second voyage, the direction of which was entrusted to Captain Middleton. The sum subscribed for this second voyage was 60,4501., of which the very large proportion of 48,140%. was expended in the repairs of the ships, and for stores and provisions. The subscription for the second voyage was included in one account with that for the first, amounting to 128,8237.

The fleet proceeded to the factory which Lancaster had established at Bantam, and there laded two ships with pepper; he also sent two other ships to Amboyna, for finer spices. Having completed his cargo, he returned to England in 1606, with the loss, however, of one of his ships.

The clear profits upon these two voyages are said to have amounted to 95 per cent. upon the capital originally subscribed.

While the company were thus actively employed in laying the foundations of their trade, they were alarmed by a licence granted in 1604, by James the First, in violation of their charter, to Sir Edward Michelborne and others, to trade to "Cathaia, China, Japan, Corea, and Cambaya, &c." Application was therefore made to the king for a renewal of their privileges, with such explanations of their chartered rights as were deemed necessary to preclude all future pretexts for questioning their authority, or infringing their privileges of trade.

In consequence of this application they obtained, in 1609, a renewal of their charter, confirming all their preceding privileges, and, instead of limiting them to fifteen years,

"the whole, entire, and only trade and traffic to the East Indies," was granted to the company "for ever;" still, however, a prohibitory clause was inserted to the effect that, if the trade should not be found profitable to the realm, that their exclusive privileges should, after three years' notice, cease and expire.

The loss of a ship in the second voyage did not discourage the adventurers from fitting out a third expedition, which sailed in 1606, under the command of Captain Keeling. The ships proceeded to Bantam to receive pepper, and one of them procured an assortment of cloves, at Amboyna, at a cost of 2,9487. 158., which, on the return to England, realized no less a sum than 36,2871. The profits on this voyage amounted to 234 per cent. on the original subscription.

The fourth voyage, made in 1607, proved unfortunate; for one of the vessels was wrecked on the coast of India, and the other, on her return, on the coast of France.

In these voyages the trade of the company was chiefly with Sumatra, Java, and Amboyna, the returns being raw silk, fine calicoes, indigo, cloves, and mace. In the year 1608, the factors at Bantam and the Moluccas reported that the cloths and calicoes, imported from the continent of India, were in great request in the islands; and that, if the fac tories could be furnished with them, they could be profitably exchanged for the spices and other productions of the islands. Sir Henry Middleton was, therefore, sent out with a fleet, in 1609, with instructions to the factors of India, which furnish the first example of a regular list of goods descriptive of the articles to which their purchases were to be confined; namely, raw silk, fine book-calicoes, indigo, cloves, and mace. Mr. Bruce thinks it probable from this restriction, that in the preceding voyages, the profits of individuals, from the illegal sale of those articles, had alarmed the Court of Committee, as they now prohibited them from private trade, except to the amount which they had subscribed to the general stock.

This voyage was accompanied by some adventures which do not partake of the peaceable character of mercantile trans actions. At Aden and Mocha the Turks surprised one of the ships, and made the captain and seventy men prisoners. On the coast of India they met with much opposition from the Portuguese. Still, however, the voyage was commer cially successful, for the profits amounted to upwards of 121 per cent.

In the eighth voyage, undertaken in 1611, the fleet was

better prepared to defend itself against its Portuguese rivals. At a place near Surat, called Swally, a large Portuguese armament attacked the English fleet, and this led to a series of actions which were fought between the 22nd of October and the 27th of November, 1612. The English force consisted of a large vessel named the Dragon, commanded by Captain Best, and of a smaller one, the Osiander. The Portuguese had four galleons, of which the largest carried thirtyeight guns, and a number of small vessels without cannon, intended to assist in boarding. In the several encounters which took place, the Portuguese were defeated with considerable loss; and ultimately they allowed Captain Best to remain unmolested at Swally, to renew his intercourse with the factory at Surat. The superiority of the English in this contest greatly raised their reputation in the opinion of the natives, and contributed to the speedy confirmation of the articles of a treaty previously agreed upon between Captain Best and the governor of Ahmedabad. In the December of this year Captain Best settled the first English factory at Surat; and permission was shortly after given to establish factories at Ahmedabad, Cambaya, and Goga, which appeared to the agents of the company to be the most eligible situations; they agreed to pay a duty of 3 per cent. on their merchandize, and received assurance that no further demand should be made; that the factories should be protected, and that in the event of the death of the factors an inventory should be taken of the company's property, which should be safely kept until the arrival of the next fleet. A firmaun, or decree, of the emperor, confirming these privileges, was delivered with much ceremony to Captain Best on the 11th of January, 1613, and "authorized the first establishment of the English on the Continent of India, at that time the seat of one of the most extensive and splendid monarchies on the surface of the globe."

The factors stationed at Surat represented to the company the advantages of this port for the sale of English goods in exchange for Indian produce; and furnished a list of such goods as might annually be disposed of there; namely, about four thousand pieces of broad cloths, sword-blades, knives, and looking-glasses; they recommended that toys and English bull-dogs should be sent as presents; but signified that the trade could only be protected by stationing five or six ships in the river at Surat to defend the factory and trade against the Portuguese.

SECTION 4.

CHANGES IN THE COMPANY'S PROCEEDINGS. FOUR VOYAGES UNDERTAKEN ON THE JOINT STOCK. EMBASSY OF SIR THOMAS ROE-HIS ADVICE TO THE COMPANY. THE SPICE TRADE. TRADE WITH PERSIA. STATE OF Trade at the VARIOUS STATIONS.

The timidity of the first subscribers which induced them to withhold their contributions until the success of the East India trade should be fully proved had the effect, as we have seen, of inducing a few bolder and more speculative individuals to take upon themselves the sole risk as well as profit of particular adventures. This practice was continued up to the year 1612; each adventure being the property of a certain number of individuals, who contributed to it as they pleased, and managed it for their own account, subject only to the general regulation of the company. Whatever effect this management had on commerce, it certainly contributed much less to the power and consequence of a governor and directors than trading on a joint stock over which they might have a delegated control. They therefore came to a resolution, in 1612, that in future the trade should be carried on by a joint stock only. Still, however, they do not seem to have been able to establish a general fund, fixed in amount, and divided into regular shares; the capital continued to be raised by subscription, some individuals advancing largely, while others, whose names appeared as members of the company, advanced nothing. But some progress towards consolidation was made by abolishing particular adventures, and empowering the governor and directors to employ the fund for the benefit of those who advanced it. On these terms the sum of 429,000l. was subscribed, which was divided for the purpose of four separate adventures or voyages, to be undertaken in as many successive years. The general instructions to the commanders were given in the name and by the authority of the governor, deputy-governor, and committee of the Company of Merchants of London trading to the East Indies; the commanders were to be responsible to the company for their conduct, both for the sale and purchase

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of commodities in the East Indies, and for their general conduct in extending the commerce, within the limits of the company. The profits of these four voyages did not raise the management of the directors in the estimation of the subscribers. The average profits of the former voyages had been 171 per cent., but on these four it yielded only 87 per cent.

The power of the Portuguese in the East had produced in that people an overbearing and insolent spirit, which the Mogul Government took every opportunity to resent, and in this the English lent their aid as against a common enemy. The Portuguese fleet having burnt and plundered the towns of Broach and Goga, the war between the Mogul's subjects and the Portuguese became more general. The recent naval achievements of the English had raised their reputation so much that they were not only admitted as allies by the Mogul, but protection to their factors and trade was readily granted. In January, 1614, the Portuguese viceroy arrived at Swally with a powerful fleet and attacked the English ships, but was defeated with the loss of three hundred and fifty men: several partial actions followed between this period and the 9th of February, when the viceroy with his fleet sailed for Goa.

These proceedings impressed the natives with a still more favourable opinion of the English, and the company sought their advantage in it by sending their agent, Mr. Edwardes, to the Mogul Court, who obtained a royal firmaun for a general and perpetual trade.

In the same year, in compliance with the wishes of the company, King James granted his commission to Sir Thomas Roe to be ambassador to the Great Mogul or King of India." Sir Thomas sailed from England in March, 1614, and proceeded to Surat: he arrived at the Mogul's Court in December, 1615, and on the 10th of the following January he was presented to the Mogul as Ambassador from the King of England. In a letter to the company, dated 25th of January, 1616, he says, "At my first audience, the Mogul prevented me in speech, bidding me welcome as to the brother of the king my master; and after many compliments I delivered his Majesty's letter, with a copy of it in Persian; then I showed my commission, and delivered your presents, that is, the coach, the virginals, the knives, a scarf embroidered, and a rich sword of my own. He sitting in his state could not well see the coach, but sent many to view it, and caused the musician to play on the virginals, which gave him content. At night, having staid the coachman and musician, he came down into a court, got into the coach, and into every corner of it, causing it to be drawn about. Then he sent to me, tho' it was ten o'clock at night, for a servant to put on his scarf and sword after the English fashion, which he was so proud of, that he walked up and down drawing and flourishing it, and has never since been seen without it. But after the English were come away, he asked the Jesuit whether the King of England were a great King, that sent presents of so small value, and that he looked for some jewels; yet rarities please as well: and if you were yearly furnished from Frankfort, where there are all sorts of knacks and new devices, a hundred pounds would go further than five hundred laid out in England, and be more acceptable here. This country is spoiled by the many presents that have been given, and it will be chargeable to follow the example. There is nothing more welcome here, nor did I ever see men so fond of drink, as the king and the prince are of red wine, whereof the governor of Surat sent up some bottles, and the king has ever since solicited for more: I think four or five casks of that wine will be more welcome than the richest jewel in Cheapside; large pictures on cloth, the frames in pieces, but they must be good, and for variety some story with many faces. For the queen, fine needlework toys, fine laces, cutwork, and some handsome wrought waistcoats, sweet-bags, and cabinets, will be most convenient. I would wish you to spare sending scarlet, it is dear to you, and no better esteemed here than stammel. I must add that any fair China bedsteads, or cabinets, or trunks of Japan, are here rich presents. Lately the king of Visapour sent his ambassador with thirty-six elephants, two of them with all their chains of wrought beaten gold, two of silver, the rest of brass, and four rich furnished horses, with jewels to the value of ten lacs of rupees. Yet withal he sent China ware and one figure of crystal, which the king valued more than all that mass of wealth. This place is either made, or of itself unfit for an ambassador; for tho' they understand the character, yet

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