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chants to be a corporation, or body politic, is to grant them a double monopoly, whereof one is to be sole buyers; another to be sole sellers. For when there is a company incorporate for any particular foreign country, they only export the commodities vendible in that country; which is sole buying at home, and sole selling abroad. For at home there is but one buyer and abroad but one that selleth: both which is gainful to the merchant, because thereby they buy at home at lower, and sell abroad at higher rates; and abroad there is but one buyer of foreign merchandize, and but one that sells them at home; both which again are gainful to the adventurers.

Of this double monopoly one part is disadvantageous to the people at home, the other to foreigners. For at home by their sole exportation they set what price they please on the husbandry and handiworks of the people; and by the sole importation, what price they please on all foreign commodities the people have need of; both which are ill for the people. On the contrary, by the sole selling of the native commodities abroad, and sole buying the foreign commodities upon the place, they raise the price of those, and abate the price of these, to the disadvantage of the foreigner for where but one selleth, the merchandize is the dearer; and where but one buyeth, the cheaper. Such corporations therefore are no other than monopolies; though they would be very profitable for a commonwealth, if being bound up into one body in foreign markets they were at liberty at home, every man to buy, and sell at what price he could.

The end of these bodies of merchants, being not a common benefit to the whole body, which have in this case no common stock, but what is deducted out of the particular adventures, for building, buying, victualling and manning of ships, but the particular gain of every adventurer, it is reason that every one be acquainted with the employment