But there were some who held that our commerce with India would be best carried on by means of what is called a regulated Company.

There was a Turkey Company, the members of which contributed to a general fund, and had in return the exclusive privilege of trafficking with the Levant; but those members trafficked, each on his own account; they forestalled each other; they undersold each other; one became rich; another became bankrupt.

The Corporation meanwhile watched over the common interest of all the members, furnished the Crown with the means of maintaining an embassy at Constantinople, and placed at several important ports consuls and vice-consuls, whose business was to keep the Pacha and the Cadi in good humour, and to arbitrate in disputes among Englishmen.

Why might not the same system be found to answer in regions lying still further to the east?
Why should not every member of the New Company be at liberty to export European commodities to the countries beyond the Cape, and to bring back shawls, saltpetre and bohea to England, while the Company, in its collective capacity, might treat with Asiatic potentates, or exact reparation from them, and might be entrusted with powers for the administration of justice and for the government of forts and factories?
Montague tried to please all those whose support was necessary to him; and this he could effect only by bringing forward a plan so intricate that it cannot without some pains be understood.

He wanted two millions to extricate the State from its financial embarrassments.