That sum he proposed to raise by a loan at eight per cent.

The lenders might be either individuals or corporations.

But they were all, individuals and corporations, to be united in a new corporation, which was to be called the General Society.

Every member of the General Society, whether individual or corporation, might trade separately with India to an extent not exceeding the amount which such member had advanced to the government.

But all the members or any of them might, if they so thought fit, give up the privilege of trading separately, and unite themselves under a royal Charter for the purpose of trading in common.