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View Sample Pages : Daily Courant, March 09, 1730

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Daily Courant (Newspaper) - March 9, 1730, London, Middlesex The Daily Cdurant. M J. Monday March 9, 1729-30, To the Author of the DAILY COURANT. THIS Paper was prepared at the Requeft of a Proprietor of the Eafl-lndia Stock, one who has been fo from the Time of the Union of the Two Companies; the Confequence of which was the foreclofing all thofe that had any Seperane Stock, part of the 2,600,000 1. advane'd to the Government in the Year 1698, and putting an find to a much greater Trade to India than has been carried on any time fince the confining theTrade to the prefenc Eaft-lndia Company only; and as> notwith-ftanding his being one of the greateft Proprietors of this Stock, he is fo fully fatisfied from tbefe Confiderations it is not the Intereft of the Proprietors, and fo perfedtly convinced from other Confiderations of a Publick Nature, ic is likewiCe not rhe Intereft of the Nation to have the Company's Propofal ren-dred effectual, that he has defired the Printing of this Paper, in hopes it may prevent a Trade of fuch vaft Exrentfrom being confined any longer than the Year 1736 to a Company with a Joint Stock, exclufive of all others the Subjects of Great Britain. Considerations occafiorid by the Eaft-lndia Company"1; Proposal, ^ew-ing. That as it has been admitted that the Company have a Perpetuity in the Trade to India, and a Term in their Fund after the Z^th of iViarch 1756, that it is not the Interefi of the Proprietors, to confent to a Heduhion cf their prefent Annuity from 160,000 I. to 128,000 J. end to give 200,000 I. to the Government. For TH E Redu&ion of 1 per Cent, per Ann. Intereft upon 3,200,000 /. and the Intereft of 200,000 /. at 4 /. per Cent, will be a Lofs to the Proprietors of 40,000* /. a Year. Confequently, The Reduction of an Annuity of 32,000/1 and the Intereft of 200,000 /. for fix Years, will amount to 240,000 /. Therefore, The Reduction of 1 per Cent, per Annum of their Profit Annuity, and the Intereft of 200,000/. muft neceflarily Jeffen rhe Dividend, which the Company have made of late Years, more than 1 per Cent, per Annum, by reducing it from 8 to 6 I per Cent, per Annum. Unlefs it can be (hewn, that rhe Company are able to make 4 { per Cent, per Annum Profit by their Trade, clear of the Money paid Annually for Intereft, and all LofTes, Charges and Expence?. An Annuity of 160,000/. for fix Years, will amount to 960,000 /. whereas an Annuity of i28,o'oo /. for rhe fame Term, will amount to but 768,000 /. the Difference 192,000/. Wherefore It follows, that for the Proprietors to confent to this Reduction of 192,000 /. for fix Years, and to make a Prefent of 100,000 /. which only reckoning to be 8000 /. a Year for fix Years, is giving 240,000/. out of their Pockets. Since If they have a Perpetuity by Law in the Trade, the Company are not under any Obligation to pare with any fuch Sum; but more efpecially as they have a Term in their Annuity of 5 /. per Cent, until the 25 March f7l6, and yet by the Propofal are nor certain of having an Annuity of 4 /. per Cent, any time longer. But let it be fuppofed that the Company were to have sin Annuity of 4 /. per Cent. for 30 Years longer, which, however, is not reafonable to fuppofe, the Cafe will ftand thus, An Annuity of 128,0-6/. for 36 Years* will amount to 4,608,000 /. from which de-dueling 240,000 /. as afore(aid,and 24t,ooc /. more, the Intereft of 200,000/. for go Years, and there will remain 4,128,000/. which will not give a Proprietor of 100/. Stock an Annuity of more than 3 i per Cent, for 36 Years at a Medium. But fuppofing the Company's Annuity reduced to 3 / per Cent, after the 25 March 1736 for 3� Years, then theCaie wjH ftand thus, An Annuity of 128,000/. for Six Years* will amount to 768,000 /. and an Annuity of 96,000 /. a Year for 30 Years will amount to 2,880,000 /, both together to 3,648,000 /. from which deducting 24,000/. as aforefaid, and 180,000/. for 30 Years Intereft at but 3 per Cent, of 200,000/. and there will remain 3,228,000 /. which will not give a Proprietor of 100 /. Capital an Annuity of 2 and a half per Cent for 36 Years at a Medium. Whereas fuppofing the Company not to come into the Propofal, the Cafe will ftand thus, The Proprietors will have a certain Annuity of 5 /. per Cent, from the Government until any time after the 25 March 1736, and can never be at a Lofs, fuppofing the Government to be in a Condition to pay them off ac fuch Time, to make a greater Rare of Intereft than 2 and a half per Cent, were it not a very material Confederation, that in the one Cafe the Proprietors will have the whole of their Eftates in the Eaft-lndia Company under the entire Management and Power of Directors; whereas, by the other, they will have their Principal Money owing them by the Government under their own Care, Therefore, It is fubmitted upon the whole, whether it is not more the Intereft of the Proprietors to remain, as they have a Right by Law, to a Perpetuity in the Trade with their prefent Fund, rather than make a Deduction of it; with this Obfervation, That as the Company are only to have a Term of Six Years in an Annuity of 4 per Cent, and will certainly be reduced after the 25 March 1736 to 3. /. per Cent, for the reft of their Term in the Trade, any Perfon giving 180 /. for 100/. Capital Stock, will not have fo much real Money in his Pocket at the End of 36 Years, though the Company (liould make a 7 per Cent. Dividend for Six Years, and a 6 per Cent. Dividend for 30 Years,_as he who (hall put 180 /. to Intereft at 3 /. per Cent, per Ann. For A Dividend of 8 /. for Six Years will be 48 /. and a Dividend of 6 I. for 30 Years will be 180 /. both together 228 /. to which add 87 /. la s. the Original Capital of too/. Stock, and the whole will be 315 /. 101. Whereas the Intereft of 180 /. at 3 I.per Cent. for 36 Years will be 194/. 81. to which add 180/. and the whole will be 374'- 8 whereby it appears 58 /. 18/. will be gained more by the Perfon who fhall put 18c /. to Intereft at 31.per Cent, than any Perfons buying Eaft-lndia Stock at 180 /. and keeping it to the Expiration cf the Term of 46 Years, and the Company to be annihilated at fuch Cadi\, Feb. 14. ft. S. TT7E have now received certain AdviceV *v that the Flotilla, which fail'd hence the 9th of Auguft laft, arrived at Vera Cruz the 24th of October} but that one of the Merchant-(hips belonging to it was miffing ; but they do not give us her Name, or any other Circumftances Tho* the Loading of the Galleons does nor how go on fo vigorously as before, v\ e are hevenheiefs afiured, thai fuch of them as are ready will depart next Month, with the Men of War j and that the' reft will follow in Proportion, as tbey cart get their Loading. It is confidently affirm'd ; that the Honduras Ships will likewife be difpatch'd this Year, Men work Night and! Day in equipping the Men of War defign'd for the Expedition in favour of Don Carlos. Drefden, March 3. N. S. ItwaspaftTefl o' Clock at Night, when the King of Pruffii arrived here the J 8tb paft, while the Court was celebrating the Marriage of M. de Mof-chinski and the Countefs de Cofel. His Pfuf-fian Majefty went dire&ly to his Miniftet the Count de Trucfas's, where he put on * Domino, and went to the Wedding Slipper*' where he found a Table of 50 Perfons, and another of 30, The King of Pruffia having taken a Round, ftopt behind the King of Poland's Chair, and prefently after pull'd off his Mask, and dilcover'd himfelf to his Po� lifh Majefty ; who no fooner faw him, but he rofe from Table, and all the Company" did the fame. The two Monarchs embraced each other with Marks of the fincereft Friendfhip; and the King of Poland having thank'd his Pru/fian Majefty for the Pains he had taken to come and lee him, his Pfuffian Majefty anfwer'cl him, I bad fuch a Defire t� embrace you, that I could not help coming, bad I had been forced to came on Foot. Then the two Kings embraced again, and exchanged Proteftations of the moft perfect good Uri-derftanding, wifhing that rhe fame might de-fcend to their Pofterity. On the 19th, the King of Pruffia heard Divine Service SLnd a Sermon in the Church of the Caftle ; after which he went to fee the Apartments he was in when he came hither two Years ago, and found them all fill'd with new Arms, which the King of Poland, who received him ac the Door, had purchafed againft the enfuing General Review. His Pru/fian Majefty, view'd them with a great deal of Attention,' and then went and dined with the King of Poland at a Round Table; after which he made a Vifit to Count Wackerbath. In the Evening, bis Pruflian Majefty went to the Play, and from thence to the t\idotto ac Court, at which all the Company of the preceding Day were prefent.They drew Lots, and the Bride happen*d to be the King of Pruffia's Partner. . Upon this the Lady was prefented*, fc according to ancient Cuftom, with a Crown of Straw ; which is an Emblem of all the Confequences of the Nuptial Bed, as Chil-dren, Cradles, Nurfes, &c. in Wax-Work On the 2�th the firft Battalion of Tall Grenadiers, cloathed in Yellow and Red, being ranged in Battalia upon the Zuinger, his Pruflian Majefty went thro" all the Ranks 5 after which they filed off before the Two Kings, Man by Man, notwithftanding it was a very cold Day. The Feaft made ac Court the 21ft, calTd* the PPirtfcbaf, was ~ exceeding fine. The Hundred and Twen^^i Perfons of both Sexes, who compofed jtaV. ;