In
That Case, I Presume, The Legislature Will Make The Same Distinction
That The States Of Holland Did, And Not Suffer The Private Advantage
Of Any Particular Company To Stand In Competition With The Good Of A
Whole People.
It was upon this principle that I laid it down as a
thing certain, that the African company would
Be allowed to settle
the island of Madagascar, though it lies within the limits of the
East India Company's charter, in case it should be found necessary
for the better carrying on of this trade. It is upon the same
principle I say this southern continent lies within the intention of
the South Sea Company's charter, because, I presume, the intent of
that charter was to grant them all the commerce in those seas, not
occupied before by British subjects; for, if it were otherwise, what
a condition should we be in as a maritime power? If a grant does
not oblige a company to carry on a trade within the limits granted
to that company, and is, at the same time, of force to preclude all
the subjects of this nation from the right they before had to carry
on a trade within those limits, such a law is plainly destructive to
the nation's interest and to commerce in general. I therefore
suppose, that, if the South Sea Company should think proper to
revive their trade in the manner I propose, this proviso would be
explained by Parliament to mean no more than excluding the South Sea
Company from settling or trading in or to any place at present
settled in or traded to by the East India Company: for, as this
interpretation would secure the just rights of both companies, and,
at the same time reconcile the laws for establishing them to the
general interest of trade and the nation, there is the greatest
reason to believe this to be the intention of the legislature. I
have been obliged to insist fully upon this matter, because it is a
point hitherto untouched, and a point of such high importance, that,
unless it be understood according to my sense of the matter, there
is an end of all hopes of extending our trade on this side, which is
perhaps the only side on which there is the least probability that
it ever can be extended; for, as to the north-west passage into the
South Seas, that seems to be blocked up by the rights of another
company; so that, according to the letter of our laws, each company
is to have its rights, and the nation in general no right at all.
If, therefore, the settling of this part of Terra Australis should
devolve on the South Sea Company, by way of equivalent for the loss
of their Assiento contract, there is no sort of question but it
might be as well performed by them as by any other, and the trade
carried on without interfering with that which is at present carried
on, either by the East India or African Companies. It would indeed,
in this case, be absolutely necessary to settle Juan Fernandez, the
settlement of which place, under the direction of that company, if
they could, as very probably they might, fall into some share of the
slave-trade from New Guinea, must prove wonderfully advantageous,
considering the opportunity they would have of vending those slaves
to the Spaniards in Chili and Peru. The settling of this island
ought to be performed at once, and with a competent force, since,
without doubt, the Spaniards would leave no means unattempted to
dispossess them: yet, if a good fortification was once raised, the
passes properly retrenched, and a garrison left there of between
three and five hundred men, it would be simply impossible for the
Spaniards to force them out of it before the arrival of another
squadron from hence. Neither do I see any reason why, in the space
of a very few years, the plantation of this island should not prove
of as great consequence to the South Sea Company as that of Curacao
to the Dutch West India Company, who raise no less than sixty
thousand florins per annum for licensing ships to trade there.
From Juan Fernandez to Van Diemen's Land is not above two months'
sail; and a voyage for discovery might be very conveniently made
between the time that a squadron returned from Juan Fernandez, and
another squadron's arrival there from hence. It is true that, if
once a considerable settlement was made in the most southern part of
Terra Australis, the company might then fall into a large commerce
in the most valuable East India goods, very probably gold, and
spices of all sorts: yet I cannot think that even these would fall
within the exclusive proviso of their charter; for that was
certainly intended to hinder their trading in such goods as are
brought hither by our East India Company; and I must confess I see
no difference, with respect to the interest of that company, between
our having cloves, cinnamon, and mace, by the South Sea Company's
ships from Juan Fernandez, and our receiving them from Holland,
after the Dutch East India Company's ships have brought them thither
by the way of the Cape of Good Hope. Sure I am they would come to
us sooner by some months by the way of Cape Horn. If this reasoning
does not satisfy people, but they still remain persuaded that the
South Sea Company ought not to intermeddle with the East India trade
at all, I desire to know why the West India merchants are allowed to
import coffee from Jamaica, when it is well known that the East
India Company can supply the whole demand of this kingdom from
Mocha? If it be answered that the Jamaica coffee comes cheaper, and
is the growth of our own plantations, I reply, that these spices
will not only be cheaper, but better, and be purchased by our own
manufacturers; and these, I think, are the strongest reasons that
can be given.
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