Page:History of the French in India.djvu/70

 48 THE PERPETUAL COMPANY OF THE INDIES. chap, ships, barks, munitions of war and provisions, negroes, ' § _, animals, merchandise, and, in fact, everything that the 1719. Companies of India and China have been able to con- quer or acquire, or which has been conceded to them in France, in the Indies, or in China, on condition of paying to the French, as well as to the Indians, all the lawful debts of the Companies of India and of China." The commercial advantages granted to the Company were very great. It was allowed the exclusive right of importing from the countries indicated all products not prohibited in France, and facilities were accorded to it of selling the prohibited articles to foreign coun- tries. By the 11th decree it was directed that thence- forth the Company should be styled the " Company of the Indies," and should assume the arms of the Com- pany of the West. But perhaps the most important of the decrees pro- mulgated on this occasion related to the mode in which the funds necessary for carrying on the business of this great Company should be raised. The part of the sixth decree, which settled this point, ran thus : " We have permitted and do permit it to issue new shares to the value of twenty-five millions of francs to be paid for in ready money only, and at the rate of 550 francs for each share. These will be of the same nature as the 100 millions of the Company of the West, which are before the public, and their numbers will follow immediately that of the last share of the 100 millions ; and in con- sideration of the ten per cent, which the purchasers will pay above the par value, it is our will that these shares shall be on the same footing as the others." Law had thus at his disposal 50,000 shares of the nominal value of 500 francs each, but for which the purchasers were required to pay ten per cent, in excess of that value. But his scheme comprehended something far more extensive than the simple project indicated in the decree from which we have quoted. Just prior to