СНАР. 1. 1599. such ravages among the crews, before they reached BOOK I. the Cape of Good Hope, that one of the vessels was sent home with the sick; and the rest, two in number, had not long doubled the Cape, when the principal ship was lost in a storm. Captain James Lancaster, in the remaining vessel, after a disastrous voyage to the East, sailed to the West Indies, where he lost the ship, and with great difficulty found means to return in a French privateer.1 While the English fluctuated between desire and execution in this important enterprise, the Dutch, in 1595, boldly sent four ships to trade with India by the Cape of Good Hope. This exploit added fuel, at once, to the jealousy, and to the ambition of the English. In 1599, an association was formed, and a fund subscribed, which amounted to 30,1337. 6s. 8d., and consisted of 101 shares; the subscriptions of individuals varying from 100l. to 3,000l. 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. A committee of fifteen, the origin and foundation of a Court of Directors, were chosen to manage. The approbation of the government was readily signified; but as a treaty was then pending with Spain, policy appeared to counsel delay. The subscribers, known by the name of the adventurers, were impatient, and presented a memorial, distinguishing the places with which the Spaniards and Portuguese had established an intercourse, from others to which, without any ground of complaint on Anderson's History of Commerce, in Macpherson's Annals, ii. 199, Harris's Voyages, i. 875. 2 Anderson, ut supra, ii. 209. Harris's Voyages, i. 920. CHAP. 1. 1599. BOOK I. the part of those nations, the English might with unspeakable advantage resort. The council replied, that "it was more beneficiall for the generall state of merchandise to entertayne a peace, then that the same should be hindered, 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: and in the course of the same year, the Queen sent John Mildenhall over land by Constantinople on an embassy to the Great Mogul. 2 1 It was attended with little success. The Portuguese and Venetian agents exerted themselves to raise suspicions against the designs of the English, and effectually obstructed the endeavours of the ambassador. Towards the end of the year 1600 the efforts of the adventurers were renewed; and the consent of government was obtained to proceed in preparations for an Indian voyage, while the patent of incorporation was still under consideration. Meanwhile an application was made from government, with what views does not appear, for the employment of Sir Edward Michelbourne in the expedition. expedition. The answer of the committee, though petitioners for a 1 Minutes, &c. (Indian Register Office.) Bruce's Annals, i. 112. 2 John Mildenhall, a merchant, was sent with a letter from the Queen to the Emperor Akbar, whilst the establishment of the Company was under discussion; he left Aleppo in 1600, but did not reach Agra till 1603. After a residence of three years, he obtained a firmaun from Jehangir. He returned to England some time about 1607; from thence he went back to Agra, where he turned Roman Catholic, and died in June, 1714. Orme, Fragments, 341.-W. CHAP. 1. 1600. favour not yet conceded, affords a curious specimen BOOK I. of their independence, and of the mode of thinking of the times. They stated it as their resolution "not to employ any gentleman in any place of charge," and requested" that they may be allowed to sort theire business with men of their own qualitye, lest the suspicion of the employm of gentlemen being taken hold uppon by the generalitie, do dryve a great number of the adventurers to withdraw their contributions." The adventure was prosecuted with ardour. On the 8th of October the five following ships were already provided; the Malice Scourge, of 200 men, and 600 tons burthen; the Hector, of 100 men, and 300 tons; the Ascension, of eighty men, and 260 tons; the Susan, of eighty men, and 240 tons; and a pinnace of forty men, and 100 tons. To provision these ships for twenty months the cost was computed at 6,600l. 4s. 10d.; and the cargo, consisting of iron and tin, wrought and unwrought, of lead, cloths, and some smaller articles, chiefly intended as presents, was estimated, exclusive of bullion, at 4,5451. It was determined 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. Captain James Lancaster, whose difficult return from a predatory expedition has already been mentioned, was chosen to command the fleet; and on the 31st of December the charter of privileges was obtained.2 1 Minutes of a General Court of Adventurers, preserved in the Indian Register Office. Bruce's Annals, i. 128. 2 Bruce's Annals, i. 129-136. Anderson's History of Commerce, in Macpherson's Annals, ii. 216. Harris's Collection of Voyages, i. 875. BOOK I. 1600. This charter, 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. It constituted the adventurers a body politic and corporate 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 plan which they had already adopted for the management of their affairs, by a committee of twenty-four, and a chairman, both to be chosen annually, was confirmed and rendered obligatory. With a reservation in favour of the rights granted to other associations, and with prohibition extending to all such places as might be already occupied by the subjects of states in amity with her Majesty, and whose objection to rivals should be declared, 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, with power to export in each voyage 30,0001. 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 to the end of the charter. According to the principle of the times, the charter was exclusive; prohibiting the rest of the community from trading within the limits assigned to the Company, but granting to them the power, whenever they pleased, of bestowing licenses for that purpose. It was granted for a period of fifteen years; but under СНАР. 1. condition that, if not found to be advantageous to BOOK I. the country, it might be annulled at any time under a notice of two years: if advantageous it might, if desired by the Company, be renewed for fifteen years. The ardour of individuals, where any thing is to be risked, is more easily excited than upheld. Though the list of subscribers, while the scheme of Indian adventure was yet in contemplation, had been readily filled up, the calls of the committees for the payment of the instalments were very imperfectly obeyed. Even when the charter was obtained, it was either understood to confer no power of compelling payment, or the directors were afraid to make use of it. Instead of exacting the stipulated sums, and trading upon the terms of a joint-stock company, the subscribers who had paid were invited to take upon themselves the expense of the voyage, and, as they sustained the whole of the risk, to reap the whole of the profit. The sums which were thus advanced amounted to 68,3731. which greatly exceeded the capital originally subscribed. Of this, 39,7717. was expended in the purchase and equipment of ships-the four, excluding the pinnace, which were taken up by the committee of original adventurers: 28,7421. was expended in bullion and 6,8607. in goods; consisting partly of British commodities, cloth, lead, tin, cutlery, glass, &c.; partly of foreign, as quicksilver, Muscovy hides, &c. The choice of Captain Lancaster to command the fleet was renewed; and it sailed from Torbay on the 2d of May, 1601, carrying letters of recommen |
