368 HISTORY OF INDIA. [Book II.
A.D, KM. possesst by the said coinpuny, sluill l>e repute a,s natives of tlii.s kingdom, and have the priviledges thereof;" and that for the Hpace of twenty-one years, the company's ships, goods, and other effects whatsover, were to be "free of all manner of restraints or prohibitioas, and of all castom.s, taxes, ceases, supplies, oi- other duties imposed or to be imposed hy act of [)arliament or otherwise ;" with the exception only of the duties on tobacco and sugar, not the growth of their Special own plantations. This privilege is made still broader by a subsequent clau.se,
privileges.
which provides that " the said company, whole members, oflBcers, servants, or others belonging thereto, shall be free, both in their persons, estates, and good.s, employed in the said stock and trade, from all manner of taxes, ce-sses, supplies, excises, quartering of souldiers, tran.sient or local, or lea vying of souldiers, or other impositions whatsoever;" and lest the power given to the company to redress themselves should prove inadequate, his majesty expressly promises, that if '•'contrar to the said rights, liberties, privileges, exemptions, grants, or agree- ments, any of the ships, goods, merchandise, persons, or other effects whatsoever, belonging to the said company, shall be stopped, detained, embazled, or away taken, or in any sort prejudged or damnifyed," he will " interpose hLs authority to have restitution, reparation, and satisfaction made for the damnage done, and that upon the publick charge, which his majesty shall cause depurse and lay out for that effect." Popularity The liberality which parliament had displayed in conferring such ample
company in priviiegcs was fully seconded by the country at large. In a short time a subscription list, such as Scotland had never before seen, was filled up. The amount was £400,000; and the list contained the names of 1219 shareholders, among whom were most of the leading nobility, the public bodies, clerg}', lawyers, merchants, and a large selection of individuals of all cla.sses, thus proving beyond a doubt that the formation of the company was the effect of a great national movement. Liberal as the home subscription had thus been, a large addition was anticipated from other countries ; and the managers, among whom the celebrated William Paterson, the founder of the Bank of England, took the lead, despatched commissioners to London, Amsterdam, and Hamburg, with authority to open new subscription lists, and confer the pri^leges of the company on all who might be induced by these representations to apply foi- them. The English The English parliament, on being acquainted with these proceeding.s, imme- takes aiaiTO. diatcly took alarm; and having their attention specially called to the subject by a petition of their own Company, proceeded, on the 13th December, 1695, to present a common address from both houses to the crown. This addi'ess pro- ceeds as follows: — "The lords spiritual and temporal and commons, in parliament assembled, having taken into our consideration the state of the trade of this kingdom, do find that, besides many other disadvantages and difficulties it now lies under, an act of parliament that hath lately received yom- majesty's royal
