be few
Merchants, that with the Merchandise they buy at home, can fraight a
Ship, to export it; or with that they buy abroad, to bring it home; and
have therefore need to joyn together in one Society; where every man
may either participate of the gaine, according to the proportion of his
adventure; or take his own; and sell what he transports, or imports, at
such prices as he thinks fit. But this is no Body Politique, there being
no Common Representative to oblige them to any other Law, than that
which is common to all other subjects. The End of their Incorporating,
is to make their gaine the greater; which is done two wayes; by sole
buying, and sole selling, both at home, and abroad. So that to grant
to a Company of Merchants to be a Corporation, or Body Politique, 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 forraign 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 gainfull 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 forraign Merchandise, and but one that sels them at home; both
which againe are gainfull to the adventurers.

Of this double Monopoly one part is disadvantageous to the people at
home, the other to forraigners. For at home by their sole exportation
they set what price they please on the husbandry and handy-works of
the people; and by the sole importation, what price they please on all
forraign 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 forraign commodities upon the place,
they raise the price of those, and abate the price of these, to
the disadvantage of the forraigner: For where but one selleth, the
Merchandise is the dearer; and where but one buyeth the cheaper: Such
Corporations therefore are no other then Monopolies; though they would
be very profitable for a Common-wealth, if being bound up into one body
in forraigne Markets they were at liberty at home, every man to buy, and
sell at what price he could.

The end then of these Bodies of Merchants, being not a Common benefit
to the whole Body, (which have in this case no common stock,