MEASURES TAKEN WITH RESPECT TO THE AFRICAN TRADE.

It must be owned, however, for the honour of the ministry, that if they carried a few unpopular measures with a high hand, they seemed earnestly desirous of making amends to the nation, by promoting divers regulations for the benefit and improvement of commerce, which actually took place in the ensuing session of parliament. One of the principal objects of this nature which fell under their cognizance, was the trade to the coast of Guinea; a very important branch of traffic, whether considered as a market for British manufactures, or as the source that supplied the English plantations with negroes. This was originally monopolized by a joint-stock company, which had from time to time derived considerable sums from the legislature, for enabling them the better to support certain forts or castles on the coast of Africa, to facilitate the commerce and protect the merchants. In the sequel, however, the exclusive privilege having been judged prejudicial to the national trade, the coast was laid open to all British subjects indiscriminately, on condition of their paying a certain duty towards defraying the expense of the forts and factories. This expedient did not answer the purposes for which it had been contrived. The separate traders, instead of receiving any benefit from the protection of the company, industriously avoided their castles, as the receptacles of tyranny and oppression. The company, whether from misconduct or knavery of their directors, contracted such a load of debts as their stock was unable to discharge. They seemed to neglect the traffic, and allowed their castles to decay. In a word, their credit being exhausted, and their creditors growing clamorous, they presented a petition to the house of commons, disclosing their distresses, and imploring such assistance as should enable them not only to pay their debts, but also to maintain the forts in a defensible condition. This petition, recommended to the house in a message from his majesty, was corroborated by another in behalf of the company’s creditors. Divers merchants of London, interested in the trade of Africa and the British plantations in America, petitioned the house, that as the African trade was of the utmost importance to the nation, and could not be supported without forts and settlements, some effectual means should be speedily taken for protecting and extending this valuable branch of commerce. A fourth was offered by the merchants of Liverpool, representing that the security and protection of the trade to Africa must always principally depend upon his majesty’s ships of war being properly stationed on that coast, and seasonably relieved, and that such forts and settlements as might be judged necessary for marks of sovereignty and possession, would prove a nuisance and a burden to the trade, should they remain in the hands of any joint-stock company, whose private interest always had been, and ever would be, found incompatible with the interest of the separate and open trader. They therefore prayed, that the said forts might either be taken into his majesty’s immediate possession, and supported by the public, or committed to the merchants trading on that coast, in such a manner as the house should judge expedient, without vesting in them any other advantage or right to the commerce, but what should be common to all his majesty’s subjects. This remonstrance was succeeded by another to the same effect, from the master, wardens, assistants, and commonalty of the society of merchant adventurers within the city of Bristol. All these petitions were referred to a committee appointed to deliberate on this subject; who agreed to certain resolutions, implying, that the trade to Africa should be free and open; that the British forts and settlements on that coast ought to be maintained, and put under proper direction; and that in order to carry on the African trade in the most beneficial manner to these kingdoms, all the British subjects trading to Africa should be united in one open company, without any joint-stock, or power to trade as a corporation. A bill was immediately founded on these resolutions, which alarmed the company to such a degree, that they had recourse to another petition, demonstrating their right to the coast of Africa, and expressing their reliance on the justice of the house that they should not be deprived of their property without an adequate consideration. In a few days a second address was offered by their creditors, complaining of the company’s mismanagement, promising to surrender their right, as the wisdom of parliament should prescribe; praying that their debts might be inquired into; and that the equivalent to be granted for the company’s possessions might be secured and applied, in the first place, for their benefit. The commons, in consequence of this petition, ordered the company to produce a list of their debts, together with a copy of their charter, and two remonstrances which their creditors had presented to them before this application to parliament. A committee of the whole house, having deliberated on these papers and petitions, and heard the company by their counsel, resolved to give them a reasonable compensation for their charter, lands, forts, settlements, slaves, and effects, to be in the first place applied towards the payment of their creditors. A bill being formed accordingly, passed the commons, and was conveyed to the upper house, where a great many objections were started; and for the present it was dropped, until a more unexceptionable plan should be concerted. In the meantime their lordships addressed his majesty, that the lords commissioners for trade and plantations might be directed to prepare a scheme on this subject, to be laid before both houses of parliament at the beginning of next session; that instant orders should be given for preserving and securing the forts and settlements on the coast of Guinea belonging to Great Britain; and that proper persons should be appointed to examine into the condition of those forts, as well as of the military stores, slaves, and vessels belonging to the African company, so as to make a faithful report of these particulars, with all possible expedition.