Russia Company was reduced to five pounds; and by the 25th of Charles II, c. 7, that for admission into the Eastland Company to forty shillings, while, at the same time, Sweden, Denmark, and Norway, all the countries on the north side of the Baltic, were exempted from their exclusive charter. The conduct of those companies had probably given occasion to those two Acts of Parliament. Before that time, Sir Josiah Child had represented both these and the Hamburg Company as extremely oppressive, and imputed to their bad management the low state of the trade which we at that time carried on to the countries comprehended within their respective charters.

But though such companies may not, in the present times, be very oppressive, they are certainly altogether useless. To be merely useless, indeed, is perhaps the highest eulogy