evements and the marvellous tales of Englishmen beyond the Atlantic,
and that they too should claim their share of traffic with that golden
and magnificent Unknown which was called America. The rivalry between
England and Holland, already so conspicuous in the spicy Archipelagos of
the east, was now to be extended over the silvery regions of the west.
The two leading commercial powers of the Old World were now to begin
their great struggle for supremacy in the western hemisphere.

A charter for what was called a West India Company was accordingly
granted by the States-General. West India was understood to extend from
the French settlements in Newfoundland or Acadia, along the American
coast to the Straits of Magellan, and so around to the South Sea,
including the Atlantic and Pacific Oceans, besides all of Africa lying
between the tropic of Cancer and the Cape of Good Hope. At least, within
those limits the West India Company was to have monopoly of trade, all
other Netherlanders being warned off the precincts. Nothing could be more
magnificent, nor more vague.

The charter was for thirty-six years. The company was to maintain armies
and fleets, to build forts and cities, to carry on war, to make treaties
of peace and of commerce. It was a small peripatetic republic of
merchants and mariners, evolved out of the mother republic--which had at
last established its position among the powers of Christendom--and it was
to begin its career full grown and in full armour.

The States-General were to furnish the company at starting with one
million of florins and with twenty ships of war. The company was to add
twenty other ships. The Government was to consist of four chambers of
directors. One-half the capital was to be contributed by the chamber of
Amsterdam, one-quarter by that of Zeeland, one-eighth respectively by the
chambers of the Meuse and of North Holland. The chambers of Amsterdam, of
Zeeland, of the Meuse, and of North Holland were to have respectively
thirty, eighteen, fifteen, and fifteen directors. Of these seventy-eight,
one-third were to be replaced every sixth year by others, while from the
whole number seventeen persons were to be elected as a permanent board of
managers. Dividends were to be made as soon as the earnings amounted to
ten per cent. on the capital. Maritime judges were to decide upon prizes,
the proceeds of which were not to be divided for six years, in order that
war might be self-sustaining. Af