In order to prevent a single person or a small junto from domineering over the whole society, it was determined that five thousand pounds of stock should be the largest quantity that any single proprietor could hold, and that those who held more should be required to sell the overplus at any price not below par.

In return for the exclusive privilege of trading to the Eastern seas, the Company was to be required to furnish annually five hundred tons of saltpetre to the Crown at a low price, and to export annually English manufactures to the value of two hundred thousand pounds.

[181] A bill founded on these resolutions was brought in, read twice, and committed, but was suffered to drop in consequence of the positive refusal of Child and his associates to accept the offered terms.

He objected to every part of the plan; and his objections are highly curious and amusing.

The great monopolist took his stand on the principles of free trade.