In Order To Prove This, I Need Only Lay
Before The Reader The Limits Assigned That Company By Their Charter,
The Substance Of Which Is Contained In The Following Words:-
"The corporation, and their successors, shall, for ever, be vested
in the sole trade into and from all the kingdoms
And lands on the
east side of America, from the River Oroonoco, to the southernmost
part of Terra del Fuego, and on the west side thereof from the said
southernmost part of Terra del Fuego, through the South Sea, to the
northernmost part of America, and into and through all the
countries, islands, and places within the said limits, which are
reputed to belong to Spain, or which shall hereafter be found out
and discovered within the limits aforesaid, not exceeding 300
leagues from the continent of America, between the southernmost part
of the Terra del Fuego and the northernmost part of America, on the
said west side thereof, except the Kingdom of Brazil, and such other
places on the east side of America, as are now in the possession of
the King of Portugal, and the country of Surinam, in the possession
of the States-general. The said company, and none else, are to
trade within the said limits; and, if any other persons shall trade
to the South Seas, they shall forfeit the ship and goods, and double
value, one-fourth part to the crown, and another fourth part to the
prosecutor, and the other two-fourths to the use of the company.
And the company shall be the sole owners of the islands, forts,
etc., which they shall discover within the said limits, to be held
of the crown, under an annual rent of an ounce of gold, and of all
ships taken as prizes by the ships of the said company; and the
company may seize, by force of arms, all other British ships trading
in those seas."
It is, I think, impossible for any man to imagine that either these
limits should be secured to the company for no purpose in the world;
or that these prohibitions and penalties should take place,
notwithstanding the company's never attempting to make any use of
these powers; from whence I infer that it was the intent of the
legislature that new discoveries should be made, new plantations
settled, and a new trade carried on by this new corporation,
agreeable to the rules prescribed, and for the general benefit of
this nation; which I apprehend was chiefly considered in the
providing that this new commerce should be put under the management
of a particular company.
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