Page:History of India Vol 7.djvu/337

 THE JOINT STOCK SYSTEM 279 so far remote from hence cannot be traded but in a joint and united stock.' ' Yet the actual charters of Elizabeth and James contained no reference to the sub- DOME8 OF A MOSQUE OP THE MOGHUL PERIOD. ject, nor was a continuous joint stock ever raised. The truth is that the term " Joint Stock " had to the found- ers in 1599 a very different meaning from that connoted by its modern development, the " Joint Stock Com- pany.' ' It signified only a subscription for a joint voy-