il, and
such other places on the east side of America, as are now in the
possession of the King of Portugal, and the country of Surinam, in the
possession of the States-general. The said company, and none else, are
to trade within the said limits; and, if any other persons shall trade to
the South Seas, they shall forfeit the ship and goods, and double value,
one-fourth part to the crown, and another fourth part to the prosecutor,
and the other two-fourths to the use of the company. And the company
shall be the sole owners of the islands, forts, etc., which they shall
discover within the said limits, to be held of the crown, under an annual
rent of an ounce of gold, and of all ships taken as prizes by the ships
of the said company; and the company may seize, by force of arms, all
other British ships trading in those seas."

It is, I think, impossible for any man to imagine that either these
limits should be secured to the company for no purpose in the world; or
that these prohibitions and penalties should take place, notwithstanding
the company's never attempting to make any use of these powers; from
whence I infer that it was the intent of the legislature that new
discoveries should be made, new plantations settled, and a new trade
carried on by this new corporation, agreeable to the rules prescribed,
and for the general benefit of this nation; which I apprehend was chiefly
considered in the providing that this new commerce should be put under
the management of a particular company. But I am very well aware of an
objection that may be made to what I have advanced; _viz_., that, from my
own showing, this southern continent lies absolutely without their
limits; and that there is also a proviso in the charter of that company
that seems particularly calculated to exclude it, since it recites that.

"The agents of the company shall not sail beyond the southernmost parts
of Terra del Fuego, except through the Straits of Magellan, or round
Terra del Fuego; nor go from thence to any part of the East Indies, nor
return to Great Britain, or any port or place, unless through the said
straits, or by Terra del Fuego: nor shall they trade in East India goods,
or in any places within the limits granted to the united company of
merchants of England trading to East India (such India goods excepted as
shall be actually exported from Great Britain, and also such gold,
silver, wrought plate, and other goods and commodities, which are t