en ships_. The
purchase, repair, and equipment of vessels during these four voyages
amounted to L272,544, which, with the specified stock and cargoes,
accounts for the disbursement of the L429,000, the sum subscribed on the
joint stock in 1613.[122]

[Footnote 122: The enumerated particulars amount to L462,060, and exceed
the subscribed joint stock by L33,060.--E.]

"The profits on this joint stock are stated to have amounted, on the
first two voyages, to L120 per cent. on the original subscription; but
they were subsequently much diminished, by the difficulties which the
English trade to the East Indies began to experience, from the
opposition of the Dutch in the Spice Islands; so that, at the conclusion
of this first joint stock, in 1617, the average profits of the four
voyages did not exceed L87:10s. per. cent on the original subscription,
notwithstanding the cargo of one of the vessels (the New-year's Gift)
cost only 40,000 rials of eight, and the sale produce, in England,
amounted to L80,000 sterling."

It is not the purpose of this Collection to enlarge on the history of
the East India Company, any farther than by giving relations of its
early voyages, so far as these have come down to us in the Pilgrims of
Purchas, their only published record; and we now therefore proceed with
such of these voyages as are contained in that curious collection, and
seem to be worth including in this work.--E.

SECTION I.

_Voyage of Captain Nicholas Downton to India, in 1614._[122]

The ships employed on this voyage, the _second_ set forth by the _joint_
stock of the East India Company, were the New-year's Gift admiral, of
650 tons, on board of which Captain Downton sailed as general or chief
commander; the Hector of 500 tons, vice-admiral; the Merchant's Hope,
of 300 tons; and the Salomon of 200 tons. We have thus only_ four_ ships
enumerated by Purchas, as employed in the _second_ voyage of the new
joint stock, instead at _eight_ mentioned in the _Annals_, as before
stated in the introduction to the present chapter. In this voyage, Mr
William Edwards was lieutenant, or next in command under Captain
Downton, being likewise Cape merchant, and commander of the Hector. Mr
Nicholas Easworth was Cape merchant, and commander of the Merchant's
Hope. Mr Thomas Elkington, Cape merchant, and commander of the Salomon.
Mr Peter Rogers minister; Martin Pring. Arthur Spaight, Matthew
Molineux, and Hugh Bennet, masters of the four s