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The principal Adventurers here, were Qpeen Katherine of ' 'Portugal, Queen Mary of France, the Duke of York, Henrietta Maria Duchels of Orleans, Prince Rupert ; in brief, the whole Court came into it. The other Adventu- rers, i. e. thofe who were to be charg'd with the Manage- ment of Affairs, were chofen from among the weahhieft and ableft Merchants ; especially thofe who had already dealt to thofe Countries. By this Charter the Grant was cnlarg'd, and the Company put in poffeffion of all the Coun- tries, i£c. between the Port of Salley in S. Barbary to the Cape of Good Hope, for a thoufand Years ; only referving ,o the Crown the Homage thereof, with the Acknowledg- ment of two Elephants to be presented the King, or his Succeffors, every time any of 'em fhould fet foot within the Countries and Colonies in their Grant,
The Privileges granted by the Charter, are, ift, That the Ciapany /hall be a Corporation, or Body Politick ; iTiall have a common Seal, bearing on one fide an Elephant, fup- ported by two Negro's ; on the other, the King's Portrait. That the Governor, with his Deputy, with 7 ot the 24, or ,j of the 2(f Directors, be authoriz'd to take on 'em the Direction of Affaits : That they may hold Courts, make Laws, inflicr. Puniftiments, (gc. provided, {fill, they be equi- iable, and confittent with the Laws of England. That the Adventurers may transfer their Stock at pleafure ; provided the Transfer be made in open Court, and be rcgifter'd. That it may equip and fend out what Veffels it pleafes, for Commerce or War; but that it pay the Duties and Cuftoms. That no Veffels but thofe of the Company, and thofe au- thoriz'd by it, fhall traffick within the Limits of its Grant ; on Pain of ConnTcation. That the Company may make War, in defence of its Colonies, again!} Invadets, Z$c. That it have the Benefit of all the Mines in its Territories ; the King only referving to himfelf two thirds of the Gold Mines, upon bearing two thirds of the Expence. Laftly, that the King rcferves for himfelf and his Succeffors, the Right of intervening, and being admitted at any time a Sharer in the Stock, upon coniributing a proportionable Sum to the reft.
This Charter was confirm'd by new Letters Patent in 1673 ; follow'd by a Proclamation, inforcing the Obfervance of the Article of Exclufion : But neither Charter nor Pro- clamation being able to fecure 'em from Interlopers, they had recourfe to the Proteflion of King James II. who had been twice among the number of Merchants Adventurers; of whom they obtain'd a moft fevere Declaration on their behalf, in the Year itf8j.
On this foot the Company has flood ever fince, till the Year 1720; when a New African Company being form'd by the Duke ofCbandois, and others ; and a Chatter pur- chas'd at the Expence of 250000 /. Sterling ; the two Com- panies foon became united.
Hamburgh Company, is the oldeft trading Eftablifhmcnt in the Kingdom ; tho not always known by that Name, nor rcllrain'd to thofe narrow Bounds under which it is now con- fined.
It was, firfl, call'd the Company of Merchants trading to Calais, Holland, Zealand, Brabant, and Flanders : Then it acquir'd the general Title of Merchant-Adventurers of England ; as being compos'd of all the Engltjb Merchants who traded ro the Lorn-Countries, the Baltic, and the Ger- man Ocean. Lattly, it was call'd the Company of Merchant- Adventurers of England trading to Hamburgh.
This Company, as well as fome others in England built on its Model, is very different from thofe abovemention'd ; and differs widely from the ordinary Plan and Syftem of fuch Societies. In efl-eft, this is not a Society of Dealers, each furnifhing a part of the Sum to conftitute the Capital Stock of the Company ; but a mere Affociation, or Body of Merchants, who have nothing in common but the Grant and Privilege of trading to Hamburgh, and fome other Ci- ties of Germany ; each managing his own Commerce, and on his own Bottom : only obferving a certain Difcipline, and fome Regulations, which none but the Company can efta- blifh or change.
The firft Charter whereby the Hamburgh Company was eftablifh'd, was in 1406", under the Reign ofK. Henry IV. It was afterwards confirm'd, and augmented with divers Privileges by many of his Succeffors ; among the reft, by Henry V. in 141 3, Henry VI. in 1422, Henry VII. in 1*93. '505, and 1505; Henry VIII. in 1509, 1517, and '531; Edward VI. in 1547; Queen Mary in fj5%,Eliza- «>th in 15S4 and 158* ; James I. in 1605, and Charles II. ■n idSi.
But of all thefe Charters, there are, properly, none but 'hofc of Henry IV. Henry VII. Elizabeth, James, and Charles, that are of any importance, or that give the Com- pany any thing new ; the reft being only fimple Confirma- tions.
Before the Charter of Henry IV. all the Englifh Mer- chants who traffick'd out of the Realm, were left to their own Condufl ; and manag'd Affairs with Foreigners, as
might be moft for their refpeflive Imerefts ; without any" regard to the general Commerce of the Nation.
Henry, obferving this Diforder, endeavour'd to remedy it) by uniting all the Merchants in his Dominions into one Bo- dy ; wherein, without lofing the liberty of trading each tor himfelf, they might be governed by a Company {till luMli- ing ; and be fubjefl to Regulations, which Iho'uld fecure the general Intereft of the National Commerce, without preju- dice to the Intereft of Particulars.
With this View, he granted all the Merchants of his States, particularly thofe of Calais, then in his Hands, a Power of affociating themfelves into a Body Politick, with Direflors and Governors, both in England and abroad ; ro hold Affembiies, both for the Direflion of Bufinefs, and the deciding of Controverfies among Merchants ; make Laws • punifh Delinquents; and impofe moderate Duties and Taxes on Merchandizes, and Merchants, to be ernploy'd in the Sep. vice of the Corporation.
Thcfe few Articles of the Charter of Henry IV. werd much augmented by Henry VII. who firft gave "'em the Ti- tle of Merchant- Adventurers to Calais, Holland, &c. gave 'em a Power of proclaiming and continuing free Fairs at Ca- lais ; and order'd, that to be reputed a Member of the So- ciety, each Perfon pay 20 Marks Sterling ; and that the feveral Members mould attend the General Meetings ap- pointed by the Direflors, whether at London, Calais, or eile- where.
The Inexecution of this laft Article, and contempt of fome of the reft, occasioning great Inconveniencies to the Compa- ny's Affairs, another Charter was procur'd ; whereby, 'the Pain of Imptifonment was menaced, for thofe who ihould abfent themfelves from the Affembiies without lawful Caufe, or ihould difobey the Laws.
A Rcqucft being made to Qiicen Elizabeth, in 1554, for anExplanat.on of certain Articles in the Charter 'of Henry VII. and a Confirmation of the reft granted by other Kings; that Princefs, by a Charter of the fame Year, declares, That to end all Difputes, they fhall be incorporated a-new, under the Title of the Company of Merchant- Adventurers of England ; tha t all who wete Members of the former Company, ihould, if they defir'd it, be admitted Members of this : that they ihould have a common Seal ; that they Ihould admit into their So- ciety what other Perfons, and on what Terms they pleas'd ; and expel 'em again on misbehaviour : that the City of Hamburgh, and neighbouring Cities, ihould be reputed within their Grant, together with thofe of the Low-Coun- tries, &c. in that of the former Company. That no Mem- ber ihould marry out of the Kingdom ; nor put-chafe Lands, {£>c. in any City beyond Sea : and that thofe who do, ihallbe, ipjb faEio, excluded for ever.
Twenty two Years after this firft Charter, Queen Eliza- beth granted 'em a fecond ; confirming the former, and fur- ther, granting 'em a Privilege of Exclufion ; with a Power of erecting in each City within their Grant a {landing Council.
After thefe Privileges, the woollen Manufaflures became the principal Object of their Application; wherein they were difturb'd in the following Reign : King James I. having erected a Corporation in 1616, in favour of fome private Petfons, who offer'd to fet up a Manufacture for dying and prefiing Cloths, &c. under pretence whereof, the Company of Merchant-Adventurers were prohibited dealing therein. But that Projefl not fucceeding, and the Chatter being re- vok'd two Years afterwards, the Merchant-Adventurers were reftor'd to their antient Privileges, and a new Charter was given 'em, confirming their exclufive Right; and allowing 'em to have Officers in the feveral Cuftom-houfes, to have an Eye that they were not prejudie'd in their Woollens, un- der pretence of the like Merchandizes, which others were allow'd to fend to other Parts. This Charter of King James, is the laft of thofe confitm'd by Charles II. in the Grand Charter of 1661.
The Revolutions which had happen'd in the Ztw>- Coun- tries towards the end of the XVlth Century, and which laid the Foundation of the Republick of Holland, having hinder'd the Company from continuing their Commerce with their antient freedom ; it was oblig'd to turn it almoft whol- ly to the Side of Hamburgh, and the Cities on the German Ocean : From which Change, fome People took occafion to change its Name to that ot the Hamburgh Company ; tho the antient Title of Merchant-Adventurers is ftill retain'd in all their Writings.
Mufcovy Company, was firft projected towards the End of the Reign of King Edward VI. executed in the firft and fecond Years of 'Philip and Mary ; but had not its Perfec- tion, till its Charter was confirm'd by Afl of Parliament un- der Queen Elizabeth, in 1550".
It had its rife from certain Adventurers, who were fent in three Veffels on the Difcovery of new Countries ; and to find out a North-Eaft Paffage to China : Thefe tailing into the White Sea, and making up to the Pott of Archangel, being exceedingly well rcceiv'd by the Mitfcovites, at their D d d d return,
