relieve the embarrassments of the Government, anxious to establish a second great Whig society of capitalists, who would support him as the Bank had already done, believed that he saw his way to gaining those ends by opposing the Company, and brought forward a plan by which he hoped to secure the support of both sections of its opponents. He suggested the formation of a company, to be called the General Company, and proposed that a loan of £2,000,000, at eight per cent., should be advanced to Government, and that the subscribers should receive the monopoly of the Indian trade, but be free from the obligation of trading as a joint-stock society, unless they should afterwards wish it. He carried the Bill for its formation through Parliament, and, in spite of the forebodings of his enemies, found that the immense sum which had been promised was readily subscribed in two or three days. The Bill was carried on the 3rd of September, but, on the 5th of the same month, the greater part of the subscribers declared their desire to become a joint-stock company, which was therefore chartered by Act of Parliament by the title of the English Company trading to the East Indies. The struggle between the companies was found to be so destructive to English trade, that, in 1702, arrangements for their union were made. A common court of managers was established, their stocks equalized, and trade carried on under the name of the United Company of Merchants trading to the East Indies. But each company still traded with its own separate stock. Many inconveniences still attended this division of interests, and at last, in 1708, upon the award of Lord Godolphin, a final and complete union was made; and, as the separate adventurers who had not joined either company were bought out, the monopoly again fell into the hands of the great United Company. But though his plan was thus ultimately a failure, for the moment Montague had all the credit of another great financial triumph, and the Whig party might reasonably expect that, in spite of the one single defeat with regard to the standing army, their position would be as good in the new Parliament as it had been in that which was just closing. [Sidenote: William's attention directed to the Spanish succession.] [Sidenote: First Partition Treaty.]