&C. I. 192. - Note.]
It is quite unnecessary to extend this introductory view of the rise of
the India Company any farther, as our limits could not possibly admit
any satisfactory deduction of its history, any farther than is contained
in the following series of the Early Voyages, for which we are almost
entirely indebted to the Collection of Purchas. By this first English
East India Company, with a capital or joint stock of about 70,000l. at
least for the first voyage, were laid the stable foundations of that
immense superstructure of trade and dominion now held by the present
company. Their first joint stock did not exceed the average of 325l. or
330l. for each individual of 216 members, whose names are recorded in
the copy of the charter in Purchas his Pilgrims, already referred to.
Yet one of these was disfranchised on the 6th July, 1661, not six
months after the establishment of the company, probably for not paying
up his subscription, as the charter grants power to disfranchise any one
who does not bring in his promised adventure.
The East India Company of Holland, the elder sister of that of England,
now a nonentity, though once the most extensive and most flourishing
commercial establishment that ever existed, long ago published, or
permitted to be published, a very extensive series of voyages of
commerce and discovery, called Voyages which contributed to establish
the East India Company of the United Netherlands. It were, perhaps,
worthy of the Royal Merchants who constitute the English East India
Company, now the unrivalled possessors of the entire trade and
sovereignty of all India and its innumerable islands, to publish or
patronize a similar monument of its early exertions, difficulties, and
ultimate success. - E.
SECTION I.
First Voyage of the English East India Company, in 1601, under the
Command of Captain James Lancaster.[85]
INTRODUCTION.
From the historiographer of the company[86] we learn, that the period of
this voyage being estimated for twenty months, the charges of provisions
were calculated at L6,600 4:10: and the investment, exclusive of
bullion, at L4,545; consisting of iron and tin, wrought and unwrought,
lead, 80 pieces of broad cloth of all colours, 80 pieces of Devonshire
kersies, and 100 pieces of Norwich stuffs, with smaller articles,
intended as presents for the officers at the ports where it was meant to
open their trade. Captain John Davis, who appears to have gone as chief
pilot, was to have L100 as wages for the voyage, with L200 on credit for
an adventure; and, as an incitement to activity and zeal, if the profit
of the voyage yielded two for one, he was to receive a gratuity of
L500; if three for one, L1000; if four for one, L1500; and if five
for one, L2000.[87] Thirty-six factors or supercargoes were directed to
be employed for the voyage: Three of the first class, who seem to
have been denominated cape merchants, were to have each L100 for
equipment, and L200 for an adventure; four factors of the second
class at L50 each for equipment, and L100 for an adventure; four of
the third class, with L30 each for equipment, and L50 for adventure;
and four of the fourth class, with L20 each for equipment, and L40
for adventure.[88] They were to give security for their fidelity, and to
abstain from private trade; the first class under penalties of L500
the second of 500 marks, the third at L200 and the fourth of L100
each.[89] These only exhaust fifteen of the thirty-six, and we are
unable to account for the remaining twenty-one ordered to be nominated.
[Footnote 85: Purch. Pilgr. I. 147. Astl. I. 262.]
[Footnote 86: Ann. of the H.E.I. Co. I. 129.]
[Footnote 87: Id. I. 130.]
[Footnote 88: Ann. of the H.E.I. Co. I. 131.]
[Footnote 89: Id. I. 133.]
In the Annals of the Company,[90] we are told that the funds provided
for this first voyage amounted to L68,373, of which L39,771 were
expended in the purchase and equipment of the ships, L28,742 being
embarked in bullion, and L6,860 in goods. But the aggregate of these
sums amounts to L77,373; so that the historiographer appears to have
fallen into some error, either in the particulars or the sum total. We
are not informed of the particular success of this first voyage; only
that the conjunct profits of it and of the second amounted to L95 per
cent. upon the capitals employed in both, clear of all charges.[91]
[Footnote 90: Id. I.146.]
[Footnote 91: Ann. of the H.E.I. Co. I. 153.]
We may state here from the Annals of the Company, that the profits of
the third and fifth voyage combined amounted to L234 per cent. Of
the fourth voyage to a total loss, as one of the vessels was wrecked
in India on the outward-bound voyage, and the other on the coast of
France in her return. The profits of the sixth voyage were L121 13:4:
per cent. Of the seventh L218 per cent. Of the eighth L211 per cent.
Of the ninth L160 per cent. The average profits of the tenth,
eleventh, twelfth, and thirteenth voyages were reduced to L87-1/2 per
cent.
Captain James Lancaster, afterwards Sir James, who was general in this
voyage, was a member of the company; and is the same person who went to
India in 1591, along with Captain Raymond. Captain John Davis, who had
been in India with the Dutch, was pilot-major and second in command of
the Dragon, or admiral ship. It does not appear who was the author of
the following narrative; but, from several passages, he seems to have
sailed in the Dragon.[92] - E.
[Footnote 92: Astl. I. 262., a and b.]
Sec. 1. Preparation for the Voyage, and its Incidents till the Departure
of the Fleet from Saldanha Bay.
![A General History And Collection Of Voyages And Travels - Volume 8 - By Robert Kerr
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[Footnote 84: Ann. &c. I. 192. - Note.]
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