Project for a Joint-stock Company...(TNA)

The Nature of the Undertaking for Support of his Majesty's Sugar Plantations:

1 A Company with a joynt stock of 500000 £ will be necessary to be United by his Majesty's Letters Pattents.

2 This Company must be obliged to give Credit to all Planters for one clear third part of their Estates in the West Indies by way of Register

3 They must be oglied to give Credit for three quarters of the value of all Goods coming into the hands of a Comon Factory to be settled under the Companys diretions in London

4 This Credit to be given to all Planters and Merchants at the Comon Interest of each Place.

5 To secure the Company the mony they lend in the Indies a Register is necesary to be created in each Colony

6 To make secure and Practicable such Register some [concessions?] from his Majesty will be needfull: As.

7 To give Registerd Debts to the Company Preference to any other Debts whatsoever tho' due to the Crown:

8 To suffer Registerd Estates to goe back to the Owners and those Clayming under them notwithstanding any alterations of Property that may hapen by Consquest or other ways in those Islands:

9 To suffer noe debts to have the like Priviledges as those of the Companys, except such as may be Registerd due for Slaves to the Royall African Company

10 And that nothing in the hands of the Company or Comon Factory be lyable to ? any arrest or attachement as the goods of any Privat Person

11 To secure his majesty his Present Revenue & a Probability of an Increase, a Comutation is proposed by soe much per Cent upon all Comodities at their last Sales

12 To make which practicable and to keepe up the Price of Sugars a Comon Factory must be settled to be managed by men chose for that Purpose by the Severall Colonyes under the inspection of this and the Royall Affrican Company

13 Into the hands of the Comon Factory all goods coming from those Colonyes are to be deposited in Order to Publick Sales

14 His Majesty is to receive the value of his Present Duty by eight Proportions of payments in the year from the Treasurer of the Comon Factory

15 The Ballance of Accounts in the Comon Factory is to be made up, and Kept seperat from year to year, and all Profit and loss for each year to be placed by way of averidge on the Comoditys produced in the same, at the making up of which accounts, It will plainly appear what is due to his Majesty by the Comutation to be settled in lieu of his present Dutye beyond what hath securd it by present Payments aforesaid,

16 The Comutation is guided by the present Proportion the Duty bears to the Comoditys consumed in the Nation with some regard to the encouraging perfected Comodityes to be exported

17 The making this Undertaking practicable depends on the encouragement to be given the Company for uniting the Stock and the Acts of Assembly of the severall Colonyes whereon to ground his Majesty's Charters, Concessions and Security both of his present and future Revenue

18 The Encouragement for the Company will be the Certainty of their Security by the [Reg] and their running noe risque to his Majesty, the present interest of mony in the Colonyes and the benefit of the Comon now payd together with some Privilidges in Trade noe ways exclusive to the freedom of all others in those Parts.

19 This undertaking can be noe ways Prejudiciall to his Majesty or any other Person but the Undertakers of the Present Charges, untill the severall Assembly's in the Colonyes have been Consulted

20 This Certain Expence, and Hazard Severall Persons have subscribd to being onely invited by the Equality of the Design for all interests, and refusall of the certain Proportion of Stock in it when the Company shall be Confirmd.

21 The goeing on thereof requires his Majesty's Recomendation of it to the severall Colonyes upon whose Acts the whole Undertaking must be grounded

To this Purpose Severall Draughts are prepared. As.

1 First the Draught of a Charter to Erect a South American Company:

2 A Draught of a Charter for erecting a Comon Factory for the Sugar Plantacions

3 A Draught of an Act of Assembly to Constitute a Registry & Comon Factory:

4 A Draught of an Act of Assembly to Authroize a Comutation

5 A Draught of a Letter from his Majesty to recomend to the Plantations the method designed for their support some Blanks in the Act of Comutation cannot be Completed untill his Majesty's Present Incom is acertaind, and the Nature of the Comutation prepar'd in a paper by itselfe

All which is humbly [submitted?]

The Nature of the Undertaking for support of his Majesty's Sugar Plantations /

B. A: P: 3.