DOI Page / Citation link:
https://doi.org/10.11588/diglit.57079#0162
146 THE EARLY HISTORY OF
majesty would.” The company had a day
or two for making their decision. They
waited to see what course of action the other
companies would take. At their next meeting9
they resolved to petition the Privy Council
to be excused a contribution, seeing that they
had had bad times recently, and promising
to send out a reasonable proportion of shipping
against the pirates at their own charge.
The difficulty with regard to pirates is a
constant one, but even so it did not appear
to trouble the company as much as the factors
in the East. To guide the factors in their
dealings a mass of rules and regulations was
laid down by the company. The factors
were the agents in the Levant of members
of the company and they were there to do
business for their principals. But there was
always a strong temptation for them to do
business on their own account,10 and it was to
prevent this that the company tried various
ways and means.
9 Min. July 18, 1633.
10 “ By which the principal hath a double prejudice
and loss : first, in that the factors prefer the sale of their
own commodities, and secondly, that they make use
of their principal’s money to their own benefit.” Min.
January 20, 1631.
majesty would.” The company had a day
or two for making their decision. They
waited to see what course of action the other
companies would take. At their next meeting9
they resolved to petition the Privy Council
to be excused a contribution, seeing that they
had had bad times recently, and promising
to send out a reasonable proportion of shipping
against the pirates at their own charge.
The difficulty with regard to pirates is a
constant one, but even so it did not appear
to trouble the company as much as the factors
in the East. To guide the factors in their
dealings a mass of rules and regulations was
laid down by the company. The factors
were the agents in the Levant of members
of the company and they were there to do
business for their principals. But there was
always a strong temptation for them to do
business on their own account,10 and it was to
prevent this that the company tried various
ways and means.
9 Min. July 18, 1633.
10 “ By which the principal hath a double prejudice
and loss : first, in that the factors prefer the sale of their
own commodities, and secondly, that they make use
of their principal’s money to their own benefit.” Min.
January 20, 1631.