energy of an imperial will. He feared, and with reason, that the want of enterprise and capital among the merchants would prevent the broad and immediate results at which he aimed; and, to secure these results, he established a series of great trading corporations, in which the principles of privilege and exclusion were pushed to their utmost limits. Prominent among them was the Company of the West. The king signed the edict creating it on the 24th of May, 1664. Any person in the kingdom or out of it might become a partner by subscribing, within a certain time, not less than three thousand francs. France was a mere patch on the map, compared to the vast domains of the new association. Western Africa from Cape Verd to the Cape of Good Hope, South America between the Amazon and the Orinoco, Cayenne, the Antilles, and all New France, from Hudson’s Bay to Virginia and Florida were bestowed on it for ever, to be held of the Crown on the simple condition of faith and homage. As, according to the edict, the glory of God was the chief object in view, the company was required to supply its possessions with a sufficient number of priests, and diligently to exclude all teachers of false doctrine. It was empowered to build forts and warships, cast cannon, wage war, make peace, establish courts, appoint judges, and otherwise to act as sovereign within its own domains. A monopoly of trade was granted it for forty years. * Sugar from the Antilles, and furs from Canada, were the chief source of expected profit; and Africa was to supply the slaves to raise the sugar. Scarcely was the grand machine set in motion, when its directors betrayed a narrowness and blindness of policy which boded the enterprise no good. Canada was a chief sufferer. Once more, bound hand and foot, she was handed over to a selfish league of merchants; monopoly in trade, monopoly in religion, monopoly in government. Nobody but the company had a right to bring her the necessaries of life; and nobody but the company had a right to exercise the traffic which alone could give her the means of paying for these necessaries. Moreover, the supplies which it brought were insufficient, and the prices which it demanded were exorbitant. It was throttling its wretched victim. The Canadian merchants remonstrated. ** It was clear that, if the colony was to live, the system must be changed; and a change was accordingly ordered. The company gave up its monopoly of the fur trade, but reserved the right to levy a duty of one-fourth of the beaver-skins, and one-tenth of the moose-skins: and it also reserved the entire trade of Tadoussac; that is to say, the trade of all the tribes between the lower St. Lawrence and Hudson’s Bay. It retained besides the exclusive right of transporting furs in its own ships, thus controlling the commerce of Canada, and discouraging, or rather extinguishing, the enterprise of Canadian merchants. On its part,