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HlhiTOlJV OF 1M)IA.

[booK I.

CHAPTER X.

Association of merchant adventurers for a voyage to the East— Their proceedings— Their memorial -

The first English East India charter.

A D. 1599.

As.iDciatioii of merchant adventurers

Petition to the queen.

Voyage to the East approved

^^^;jN September, 1599, doubtless after many j^relirninaiy conferences, an ^^ ^;| association of merchant adventurers was formed in London for the purpose of prosecuting a voyage to the East Indies. At first, tliougli a permanent company was evidently contemplated, only a single voyage was proposed. Accordingly, their contract simply pur[)orts to be " The names of suche persons as have written with there owne handes, to venter in the pretended voiage to the Easte Indias (the whiche it male please the Lorde to prosper) and the somes that they will adventure, the xxij Sep- tember, 1599." The aggregate sum amounted to £30,133, 6-s. 8d., and repre- sented 101 adventures or shares, varying in amount from £100 to £3000.

At the first general meeting, held two days after the date of the contract, it was resolved to petition the queen for her royal as.sent to a project "intended for the honour of their native country and the advancement of trade and mer- chandize within the realm of England ; and to set forth a voyage to the East Indies and other islands and countries thereabouts." On the following day, when the fifteen committee men, or directors, to whom the management had been intrusted, held their first meeting, the petition was read and approved. After stating that "divers merchants, induced by the successe of the viage performed by the Duche nacion, and being informed that the Dutchemen prepare for a new viage, and to that ende have bought divers ships here, in Englande, were stirred with noe lesse afieccion to advaunce the trade of their native countrie, than the Duche merchaimts were to benefite theii'e common- wealthe, and upon that afieccion have resolved to make a viage to the Ea-st Indias," they pray to be incorporated into a company, 'for that the trade of the Indies being so remote could not be traded on but on a jointe and united stocke." They also prayed to be permitted to export foreign coin, or, in the event of a deficiency, to have bullion coined for them at the queen's mint ; and, lastly, to be exempted for several years, as the Dutch merchants were, from payment of export or import duties

On the 16th of October, the queen having signified her approbation of the voyage, the committee were exerting themselves to obtain permission for the vessels to proceed on their voyage vithout further delay, when an insurmount- able obstacle arose from an unexpected (quarter Spain had suffered so much during her late wars that she began to feel the necessity of peace. Philip II.,