The Peace of Vervins (1598) which left both France and Spain free to look after their domestic concerns, was immediately followed by the Edict of Nantes (1599) which gave religious liberty to France, and such a new freedom is always followed by national expansion. By this time Spain--the explorer or conqueror--and Holland--the patient organiser--held Eastern commerce in their hands. England had been gradually making a commerce of her own in the Indies, and all that was required was an official acknowledgment, so that the thunder of her guns should, when required, follow the creaking of her cordage. From the story of this great enterprise, through its first twenty-five years, could be drawn the lesson of such schemes as Law was now formulating. Though it had succeeded, in spite of Dutch and Portuguese opposition, in establishing “factories” when the historic massacre by the Dutch at Amboyna in the Molucca Islands, took place in 1725, the Eastern Company seemed near its dissolution. It was not till the establishment of the Hooghly factory in 1742 that things began to look up. After that, fortune favoured the Company more than she had appeared likely to do at the start. The marriage of Charles II to Catherine of Braganza in 1661 brought progress in its train. Catherine’s dower, which included Bombay and so put a part of Portugal’s later possessions in British keeping, greatly stimulated the East India Company which thenceforth was able to weather the storms that threatened or assailed. The privilege of making war on its own account, conceded by Charles II, gave the Company a national importance which was destined to consolidate its interests with those of England itself. So strong did it become that before the end of the eighteenth century it was able to resist the attack on its charter made by a powerful and progressive rival, the “New Company.” The rivals, after a few years of _pourparlers_ and tentative efforts, were united in 1708; and thenceforth the amalgamation, under the title “The United Company of Merchants of England trading to the East Indies,” was practically unassailable on its own account. It was additionally safe in that it had the protection of the great Whig Party under Godolphin. The capital of the Company, now enlarged to £3,200,000, was lent to the Government at five per cent. interest and was finally merged in the National Funds. The history of the Company, after 1717 does not belong here, as it is only considered as showing that John Law had the experience of an earlier Company similar to his own to guide him in its management if he had chosen to avail himself of it.