The history and survey of London : from its foundation to the present time . ll his other Subjects. The Company, by Virtue of this Royal Grant,made a considerable Progrefs in erecting Fortsand fettling Factories. But their Trade being laidopen by Parliament, in the Year 1697, theywere rendered unable to fupport the faid Forts;wherefore it was enacted, that all private Trad-ers to Africa fhall pay ten per Cent, to the Com-pany for that Purpofe. But this Duty not anf-wering the End for which it was granted, theCompany found themfelves necefiitated to applyto Parliament in the Year 1730, which be
The history and survey of London : from its foundation to the present time . ll his other Subjects. The Company, by Virtue of this Royal Grant,made a considerable Progrefs in erecting Fortsand fettling Factories. But their Trade being laidopen by Parliament, in the Year 1697, theywere rendered unable to fupport the faid Forts;wherefore it was enacted, that all private Trad-ers to Africa fhall pay ten per Cent, to the Com-pany for that Purpofe. But this Duty not anf-wering the End for which it was granted, theCompany found themfelves necefiitated to applyto Parliament in the Year 1730, which beingtaken into Confideration, it was found neceffaryto grant a certain Sum for keeping up the faidFortreffes. The Affairs of this Company was managed bya Governor (the King) Sub-Governor, Deputy,and a Court of thirty-fix Directors, who were an-nually chofen on the tenth of January. South Sea Compa?iy. During the long and expenfive War againftFrance in the Reign of Queen Anne, due Carewas not taken for the regular Payment of Sea-men employed in the Royal Navy-, for, inftead. of Money, thofeneceffitous andvery ufeful MenhadTickets grant-ed them in lieuof Pay •, which,by their greatNeceffities, wereoften obliged topart with at a Dif-count of forty andfometimes fifty inthe Hundred, toavaricious Men-of the Neceflities ofand unhappy Men, raifed toEftates upon their Ruin. upon this Advantage who takingthofe miferablethemfelves great The Debt due by the Government Aa Pari. and other Accounts not provided for by Parlia- 9 Anne-ment, amounted to nine millions one hundredand feventy-feven thoufand nine hundred andfixty-feven Pounds fifteen Shillings and fourPence. For the Difcharge of which, this Com-pany was incorporated by Act of Parliament, Anno1710, and by an Act of Parliament made theYear after, the Company (after the Difcharge ofthe Debt due to them from the Government) wasmade perpetual. In the Year 1714, by an addi-tional Sum of eight hundred twenty-two thou-fand and thirty-two P
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