; in August, 1720, it was proposed
to augment the cash capital, and to make the nominal total
378,000_l_. But at a "General Court," held on the 23rd December,
1720, it was resolved to "vacate" the subscription "by reason of the
present scarcity of moneys, and the deadness of credit." And it was
further "Resolved, that in the opinion of this Committee, that each
subscriber shall have 30_l_. stock for each 10_l_. by him
paid in," "which resolutions were agreed to by this Court." Anyhow, the
capital in 1748 is stated at 103,950_l_. A trade which, by sending
out about 5,000_l_. a year, brought back a return of
30,000_l_., was no doubt worth preserving; and even taking the
outlay for working and maintenance of forts and establishments, there
was over 8 per cent, on the nominal capital left, or probably 40 per
cent on all the cash actually paid in; not too great a reward for the
benefits gained by the country from this trade.
Some particulars of the regulation of exchange of commodities may here
be interesting.
The system of trade was simple barter. The equivalent of value was
beaver skins; while skins of less value were again calculated as so
much of each for one beaver. A kettle was exchanged for one beaver. A
pound and a half of gunpowder, one beaver.
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