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.

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