Chap. V.] NEW GENERAL CHARTER. Sll
if any had been bold enough to propose it, have been scouted at once as ad. igco. impracticable and monstrous.
The restoration of Charles II., in 1660, had at first a decidedly favourable Effect of the
, . f> 1 /^ 1 • 1 1 1 Restoration.
influence on the mterests of the Company. Amicable relations were at once re-established with Spain ; the bonds of friendship with Portugal were drawn closer by royal aflinity ; and the States-general, while congratulating the king on his return, not only proposed a renewal of friendship, but gave a pledge of their sincerity by ordering the immediate cession of the island of Polaroon to the London East India Company. In regard to this cession it must, however, be added, that the Dutch governor of Batavia, to whom the order was issued, postponed it for several years under various pretexts, and at last obeyed it only in the letter, while he grossly violated it in spirit by previously destroying all the spice trees, so as to render the possession worthless. Some of the other benefits which the Company owed to the Restoration were of a more substantial nature. The first of these to which it is necessary to attend was a new crown charter.
This deed, dated 3d April, proceeds upon the following preamble : — " Whereas New charter
by Charles II.
our well-beloved subjects, the Governor and Company of Merchants trading into the East Indies, have been of long time a corporation to the honour and profit of this nation, and have enjoyed and do enjoy divers privileges and immunities by force of several letters-patent and charters heretofore granted to them by our late royal progenitors Queen Elizabeth and King James of blessed memory: And whereas we are given to understand that of late divers disorders and inconveniences have been committed as well by our own subjects as foreigners, to the great prejudice of the said Company, and interruption of their trade, whereupon they have humbly besought us to grant and confirm their said charters, with some alterations and additions, tending to the benefit and advancement of their trade and trafiick." As it would be superfluous to give any analysis of the contents of this charter, in so far as it merely repeats and confirms those previously gi-anted, it is necessary only to attend to the alterations and additions, several of which are very important.
In regard to duration no change is made, the only hmit to perpetuity being, its leading
, . , ^ • /v provisions.
as before, a three years notice ; but an alteration affecting the very constitution of the Company is produced by a clause which, abolishing the right which every member had hitherto enjoyed of giving one and no more than one vote, provides that in futm-e "every person shall have a number of votes according to his stock, that is to say, for every £500 by him subscribed or brought into the present stock, one vote;" and that "any of those that have subscribed or brought less than £500 may give their respective sums to make up £500, and have one vote jointly for the same."
By another series of still more important clauses the strictly mercantile character of the Company was revolutionized, and full provision made for the
