Page:History of the French in India.djvu/69

 STYLES IT THE COMPANY OF THE INDIES. 47 and of Senegal, neither of which was in a very fionrish- chap. ing condition. To the thns united Company would fall, n - he fondly hoped, the trade of France with the East as 171y well as with the West. The Regent entered fully into the scheme. With his sanction a royal decree was issued dated May, 1719, to carry it into effect. In this decree the failure of the Company founded by Colbert was admitted and dwelt upon ; the cessation of its trade, its abandonment of its privileges to others, were adverted to, and attributed to its bad management ; the continuation of its charter for ten years, by the late King, from January 1, 1715, was admitted : "but," the decree went on to state, " in place of fulfilling its legiti- mate duties (the payment of its debts), the Indians have carried to us reiterated complaints that the Com- pany will pay neither interest nor capital, and that for more that sixteen years it has not sent any vessel to Surat." After a further reference to the inevitable con- sequence of such management, the decree continued thus : " We have considered it proper for the welfare of our Kindgom to re-establish and increase the commerce of the French with the Indies, and to preserve the honour of the nation by paying to these people the debts contracted by the Company. To carry out this design we have resolved to suppress the privileges accorded to the Companies of the Indies and of China, and to unite them to that of the West." After this preamble there followed twelve decrees, revoking the privileges of the old Companies, and conferring on the Company of the West the sole right of commerce to the countries east of the Cape, including, besides the African Islands and the Indian Seas, the Red Sea, Persia, the territories of the Mughal, Siam, China, Japan, as well as the Straits of Magellan and the seas to the south. To the same Company was likewise granted possession " of the lands, islands, forts, houses, magazines, property movable and immovable, revenues,