A MEMENTO TO THE East-India COMPANIES. OR, AN Abstract of a Remonstrance, Presented to the House of Commons, by the East-India Company, in the Year 1628.  
With some few Animadvertions THEREON.  
LONDON: Printed in the Year 1700.   

AN ABSTRACT OF A Remonstrance, Presented to the House of Commons, by the East-India Company, in the Year 1628.: With some few Animadvertions thereon.  

Remonstrance.  
Page 2. THE Trade to the East Indies some few Years past did employ fifteen thousand Tuns of Shipping; according to the present times there is and may be employed ten thousand Tuns of warlike Shipping, besides three thousand Tuns more, now here repairing for the next supply of those Voyages.  
The said Shipping do employ 2500 Mariners, whereof one third part at least are shipped from hence Land-men, who are made good Mariners by these Voyages, page 2.  
This Trade, as it is great in itself, so doth it yet farther enlarge our Traffic and Strength, by furnishing this Kingdom with all sorts of Indian Wares, not only for our own use, but more especially for the necessary wants of Foreign Nations, which hath much increased the number of our Warlike Ships to Export them from hence.  
For Proof whereof we instance the last Year when we brought in Pepper from Indies to the value of two hundred and eighty thousand Pounds Sterling, whereof one hundred and eighty thousand pounds was within few Weeks shipped off; the like is done with Indigo and Calicoes, and other rich Wares, insomuch that we may boldly affirm, that by these Exportations of India Commodities for divers Parts, we do employ, going and coming, in those Voyages, at least 2000 Tuns of shipping, which do require 500 Mariners to Man them.   

Animadvertion.  
But our Traders now, instead of supplying Foreign Nations with these India Wares they furnish more especially, our own Nation with them, to be consumed at Home, which must prove a quite contrary effect than in those days; And that they may the better encourage the Home-consumption of these India Wares, they have sent several Artists thither with Patterns and Colours, that they may the better please our Humour and Fancies.   

Remonstrance.  
[Page 8.] The remotest Traffic is always most beneficial to the Public Stock; the Example may be thus, Suppose that Pepper were worth here 2 s. a pound, if we should fetch the same from Holland, the Merchant may pay 20 pence the pound out of the Kingdom's Stock, and gain well by the Bargain; but if he fetch Pepper from the East-Indies he cannot give there above 5 Pence the Pound at the most, which doth sufficiently show the great advantage we have to buy our Wares in those remote Countries, not only for that part alone which we spend, but especially for that great quantity which from hence we Transport yearly into other Countries, to be sold at higher Prices than it is worth here in England; and a farther Benefit by Sale of our Tin, Cloth, Led, and other native Commodities, the Vent whereof doth daily increase in those Countries, which formerly had no use of our Wares.  
[Page 9] It is manifest, when we brought Indigo from Turkey, that sort was ordinarily sold for 6 s. the pound, or more, which now we sell for 4 s. Pepper then ordinarily at 3 s. and 4 d. the pound, which now is sold for by the East India Company for twenty pence; but for Cloves, they are now worth 11 s. the pound, Mace in sorts 10 s. Nutmegs 5 s. the pound, because the Hollanders, by the expulsion of our People, do keep us by force from the Trade of those Spices; in which Wares, when we enjoyed the freedom of that Trade in the Indies, we sold Cloves here at 5 s. 6 d. Nutmegs at 2 s. 6 d. the pound.   

Animadvertion.  
Seeing that the great advantage we have to buy our Wares in those remote Countries, is especially for that great quantity which from hence is transported into other Countries to be sold at an higher Price than it is worth here, and not for that which is consumed at home; If then we would make this Trade beneficial as in those days, the same Method must be observed, which is, to consume little at home, and export much.  
And a further Benefit did accrue by the Sale of our Tin, Cloth and Lead, which then did increase, but now Silver is the chief Commodity which they send thither, which is, as it were, the Vitals of the Commonwealth, for as the wise Man saith, it answers all things: What a Prejudice is it then for them to send out of the Nation that which answers all things, to have in Return that which evidently proves the destruction of our own Manufactures, and impoverishing the Nation?   

Remonstrance.  
[Page 10.] The next Quaery concerns the Kingdom nearly; for it is no small work to improve the Price of Lands, which never hath, nor can be done but by the prosperous success of our. Foreign Trade, the Balance whereof is the only means and rule of our Treasure; that is to say, when either by issuing out of the Realm yearly a greater value in Wares than we consume in foreign Commodities, we grow rich: Or by spending more of strangers Goods than we sell them of our own, we are impoverished: For the first of these courses doth bring in the Money that we have, the last will carry it away again when we have got it; if we exceed our means by excess in Foreign Wares, or maintain a War by Sea or Land, where we do not feed and cloth the Soldiers, and supply the Armies with our native Provisions, by which disorders our Treasure will soon be exhausted.  
[Page 13.] The business than is briefly thus, that as the Treasure which is brought into the Realm by the balance of our Foreign Trade, is, that Money which only doth abide with us, and by which we are enriched; so by this plenty of Money thus gotten (and no otherwise) do our Lands improve; for when the Merchant has a good Dispatch beyond the Seas for his Cloth, and others our native Wares, he doth presently return to buy greater quantity, which raiseth the price of Wool and other Commodities, which doth improve the Landlord's Rents as the Leases expire.   

Animadvertion.  
If it concerns the Kingdom nearly, and that it is no small work to improve the Price of our Lands, and that it cannot be done but by the prosperous Success of our Foreign Trade, and that the Balance is the only Means and Rule of our Treasure, etc. It concerns the Kingdom highly to keep the Balance on the Kingdom's side, especially in this Trade, which is so great; for the greater the Trade is, the greater the Mischief, when the Balance is on the other side, as it is now in the East-India Trade, and has been so for many Years; For when the Balance is on the Kingdom's side it brings in Treasure, and improves the price of our Lands, and when the Balance is on the other side it has the contrary effect.  
By this Argument it is plain, that the Landed-Men will suffer by this Trade, as well as the Manufacturers, though not so soon; but as in Common Prudence, when one's Neighbour's House is on Fire, all Endeavours are used by the Neighbourhood to quench it, not only for their Neighbour's good, but also to preserve themselves; so that it is the Interest of Landed-Men, as well as Manufacturers, to endeavour to put a stop to the evil in that Trade, and to turn the Scales on the Kingdom's side, according to the Principles of the East-India Company when they made this Remonstrance, which was to make our Exportation great, of all sorts of Commodiries, and the home-Consumption little of Foreign.   

Remonstrance.  
[Page 14.] In the course of Foreign Trade there be three sorts or degrees of Gain.  
The First is that of the Commonwealth, which may be done when the Merchant, who is the principal agent therein, shall lose.  
The Second is, the Gain of the Merchant, which he doth sometimes justly, and worthily effect, although the Commonwealth be a loser.  
The Third is, the Gain of the King, whereof he is ever certain, even when the Commonwealth and the Merchant shall be both losers.  
[Page 15.] Suppose the Company should send out one hundred thousand pounds in Wares or Money, into India, and receive home for the same three hundred thousand pounds, it is evident that this part of the Public Stock is tribled, and yet we may boldly say the Company loseth, if the Return be in Bulky Commodities, as Saltpetre, Cotton-Yarn, Indigo, Callicoe, etc. the Customs and Charges will amount to two hundred thousand pounds.  
[Page 16.] A Second sort of Gain in the course of Trade is, when the Merchant by his laudable endeavours, may both bring in and carry out Wares to his advantage, by buying and selling them to good Profit, which is the end of his labour, yet nevertheless the Commonwealth shall decline and grow poor, by a disorder in the People, when through Pride, and Excesses, they do consume more Foreign Wares in value than the Wealth of the Kingdom can satisfy and pay by the Exportatian of our own Commodities, which is the very quality of a Spendthrift who spends beyonds his Means.  
The Third Gain is the King's, who is ever sure to get by Trade, when both the Commonwealth and Merchant shall lose severally or jointly, as it may and doth sometimes happen when the Merchant's Success is bad; and our Commodities are overbalanced by Foreign Wares consumed; but if such disorders be not prevented, His Majesty, in the end, shall be the greater loser, when His Subjects shall be impoverished.   

Animadvertion.  
These Three sorts of Gain cannot long continue, or at least ought not; for as to the first, if the Commonwealth gains and the Merchant loseth, the Merchant will take care to put a stop to that Trade, by leaving it, for self-preservation sake.  
As to the Second, When the Commonwealth looseth, there is the greatest Mischief, and likest to continue, because the Merchant, who is the Agent is the Gainer, and the Commonwealth which is the loser, is passive, and cannot so soon hinder the Mischief growing upon it as could be wished; because it must be done by wholesome Laws (which requires time) to repair the Breach made by these selfish Traders, and to keep Trade in its true Course, that the Commonwealth may be no loser, which is highly reasonable to be done, it being no more than the prudent Trader doth of himself, when he finds he's a loser, he leaves it, and follows another.  
As to the Third sort of Gain, its surest and lasting foundation must be that which brings Gain to all: In Music, when all parts agree, there is a sweet Melody, but if not, than Jars and Discord.   

Remonstrance.  
We will take that for granted which no body will deny us, that we have no other means to get Treasure but by Foreign Trade, for Mines we have none which do afford it; and how this Money is gotten in the managing of the said Trade, we have already showed, That it is done by making our Commodities which are exported to overbalance in Value the Foreign Wares which we consume.   

Animadvertion.  
If we have no other Means to get Treasure but by Foreign Trade, and that it must be done by making our Commodities which are exported, to exceed in value the Foreign Wares which we consume: So that if upon Examination of the East-India Trade, as it is now managed, it shall appear, that we consume more of these Foreign Wares than is exported of our own, (which is the quality of a Spendthrift, who spends beyond his Means) the Manager thereof aught to be brought to their Primitive Principles, and grant the request the Company then made to the House of Commons, in the Prayer of their Petition, which was, That if it was not a beneficial Trade to the Nation, it might be suppressed.  
So that it doth appear by what has been said, That the East-India Company in its Primitive Time, did show, That the Benefit of this Trade did consist only in its greater Exportation in value of our own Wares than in the consumption of Foreign.  
Now that the East-India Traders do export less in value of our Wares than is consumed here of theirs, is obvious to all that know any thing of that Trade, and was plainly made to appear before the last Parliament, when the Commons passed a Bill for the restraining the consumption of part of those India Wares, and the Lords thought there was too little restrained, as appears by the Amendments made by their Lordships to the said Bill.  
There is another Mischief that doth attend this Trade, and that is the great Number of our People that are disabled of following their Trades, and are become a wand'ring People, some about the Streets for Relief, some to Sea, and some to other Countries to seek their Fortunes: For it is evident, that by so much as is consumed of these Foreign Wares, by so much our own are lessened, and consequently the Manufacturers are brought into great straits: What a Reproach would it be to this Nation, to see great Numbers reduced to Beggary, or to leave their Native Country, to satisfy the Luxury of some that act as if they were made only for themselves?  
I well remember the Saying of some Strangers formerly, who said, That if a Man could not get a Livelihood in England, he could get it no where, so fully employed were our Manufactures in those Days; but now quite contrary, because of the vast Importation and Consumption of those Foreign Wrought Silks, etc. but especially those from China, which has been Imported but of late Years in such great Quantities, insomuch that they have thereby so clogged the Market, that a very great quantity have remained unsold at the Companies last Sale; and by consequence, there can be no Trade for the Weavers while the Companies Magazines are stored, because they cannot work at such Rates as in India, where they can live for One Penny a day.  
This Mischief will not only fall upon the Silk Manufacture, but our own Staple Manufacture of Wool, which the Farmers that have Wool on their hands feel, and is not like to end there, but must needs fall heavy upon Landlords, and a Multitude of Poor that are, and may be employed in that Manufacture.  
The Silk manufactured in England is generally the Returns of our Woollen from Turkey and Italy, but more especially from Turkey, from whence we have Raw-Silk, Grogram-Yarn, and Dy-Stuff, by which are employed not only great number of Weavers and Dyers, but also many Throwsters, who, as well as the Weavers, employ Men, Women and Children, from the Age of Six Years and upwards; so that a Child from Six Years to Eleven, can get from eighteen Pence to Three Shillings a Week; Besides many Thousands of Seamens Wives, who are used to get a Livelihood in Winding of Silk at Home, whilst their Husbands are abroad at Sea, and so maintain their Families; whereas otherwise they must go upon Tick, or beg, or borrow, until their Husband's return; and then his Pay must go to quit Scores, and have nothing left for their other Necessaries.  
But if the Turkey Merchant finds no Vend for his Silk and Yarn, which is the Returns for his , he will send no more, and then the Clothier feels the smart, and when he cannot sell his Cloth he'll buy no Wool, and then the Farmer feels it, and when the Farmer cannot turn his Wool into Money he cannot pay his Rent, and then the Landlord has his feeling-part with the rest: So as in the natural Body, when one Member is wounded, it affects the whole Body, so in the Body Politic, when the manufacturing part (which is so essential a part) is wounded, it must needs affect the whole Body the more.  
But some will say, Trade must be free, and not disturbed: We grant it, and so it must so long as it is kept in its right Channel: What can be more free than the Sea and the Rivers, whom none can control, yet the Creator has set bounds to the proud Ocean, saying, so far shalt thou go, and no farther; yet it is still free in its Course; so likewise, the People of England, tho' they have Laws to govern them, which are the Boundaries of a People, yet notwithstanding they are a Free People; So we may say of Trade, that it is never the less free for its being kept in its right course by wholesome Laws, than the Sea is by the Shore, or the River by its Banks; for those things may be said to be free, that are not interrupted in their true course for which they were made: Now it is manifest that Trade was made for the Good of Mankind, and Benefit of the Public, and so far as it conduceth to those ends, it ought to be free and uncontrolled; but as Trade cannot be carried on of itself, but by some Agent, which is Mankind, who for the generality are biased, and more selfish than Public Spirited, and so turns its Course out of the right Channel; like a Flood of Waters that overflows or breaks its Banks, and brings a Deluge of Miseries with it, whilst they fill their Coffers in fishing in troubled Waters.  
So as the Sea and the Rivers are bounded that they may be kept in their free course for the benefit of the rest of the Creation: Even so ought there to be Bounds to Trade, that it may be kept in the true and free course for which it was made.   
FINIS.