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 3-56 HISTORY OF INDIA. [Book II.

A.I) 1694. Indies have been of long tinK,-, to the honour and profit of the nation, a wrf>o- ration," and that "some doubt or question hath of late been made touching the validity of the charters of the said Company, and whether the same be not, in strictness of law, void, by the not actual payment into the receij>t of our exchequer of the first quarterly payment of the tax of £5 per cent, charged on New charto. the general joint stock of the said Company," proceeds as follows: " Now know

granted. ' ., , . , . i ii • i •

ye, that we, taking the premises into our royal coiLsideration, and well weiglung what disorders and inconveniences would befall the said Company, and other persons concerned and employed in their trade, especially in the remote [)arts of the world, if we should take advantage of the forfeiture aforesaid (if any be), and we being willing that the said governor and Company, or late governor and Company of Merchants of London trading into the East Indies, and their successors, shall have and enjoy all such and the like lawful powers, privileges and advantages, and immunities ; and in as ample manner, to all intents and purposes, as if the said first quarterly payment of the said tax had been duly and regularly made according to the said act; of our especial grace, cei-tain knowledge, and mere motion," constitute and appoint Sir Thomas Cooke, knight, and various other individuals named, "and all and every other persons who were members of the said Company, or late Company of Merchants of London trading into the East Indies, on the 25th day of March, now last past, who have not since parted with their stocks in the said Company ; and all and every other person and persons who, since the 2-tth of March last past, by buying stock or otherwise, have come into, and remain in a capacity of being members of the said Company, be and shall be one body corporate and politick in deed and in name," &c. Special pro- While thus generally confirming all the rights and privileges previously en-

viso ill the _. , -.

newcharter. joycd by the Company, the new charter contains the following important pro- viso: — "If the said governor and Company of Merchants of London trading into the East Indies, and their successors, do not accept of, and from time to time, and at all times hereafter, act according to, and put in due and effectual execution, and submit and conform in all things unto such orders, directions, additions, alterations, restrictions, and qualifications, relating to the constitu- tion, continuance, determination, rights, powers, or privileges of the said Com- pany, or the governnient thereof, or of the said governor and Company ; or the encouragement, management, regulation, or advancement of trade ; or of the present or future joint stock of the said Company; or concerning any future subscriptions, to be made by way of increase or addition to the joint stock ; or for ascertaining the true values of the said joint stock, at and during the times of any such future subscriptions ; which, and as we, our heirs or successors, by the advice of our or their privy council, shall from time to time, at any time before the 29th day of September which shall be in the year 1694:, think fit to make, insert, limit, direct, appoint, or express in or by any further or other