The town of Vologda is meetest for our merchants, because it lieth amongst all the best towns of Russia, and there is no town in Russia but trades with it; also the water is a great commodity to it. If they plant themselves in Moscow or Novogrod their charge will be great and wonderful, but not so in Vologda, for all things will there be had better cheap by the one-half; and for their vent, I know no place so meet; it is likely that some will think the Moscow to be the meetest by the reason of the court, but by that reason I take it to be worse; for the charge there would be so great by cravers and expenses that the moiety of the profit would be wholly consumed, which in the other place will be saved. And yet, notwithstanding, our merchants may be there in the winter to serve the Emperor and his Court. The Emperor is a great merchant himself of wax and sables, which with good foresight may be procured to their hands; as for other commodities there are little or none in Muscovy besides those above rehearsed; if there be other it is brought thither by the Turks, who will be dainty to buy our cloths considering the charges of carriages overland. Our merchants may do well to provide for the Russians such wares as the Dutch nation doth serve them of, as Flanders and Holland cloths, which I believe they shall serve better with less charge than they of Rye or Dorpt, or Revel; for it is no small adventure to bring their cloths out of Flanders to either of these places, and their charge not little to carry them overland to Novogrod which is from Rye nine hundred Russian miles. This Novogrod is a place well furnished with flax, wax, hides, tallow, and many other things; the best flax in Russia is brought thither, and there sold by the hundred bundles, which is done also at Vologda, and they that bring the flax to Novogrod dwell as near Vologda as Novogrod, and when they hear of the utterance which they may have with our nation, they will as willingly come to them as go to the other. They have in Russia two sorts of flax, the one is called great flax, and the other small; that which they call great flax is better by four roubles in a hundred bundles than the small. It is much longer than the other, and cleaner, without wood; and whereas of the small flax there go twenty-seven or twenty-eight bundles to a ship pound; there goeth not of the greater sort above twenty-two or twenty-four at the most. There are many other trifles in Russia, as soap, mats, &c., but I think there will be no great account made of them. * * * * * _Articles conceived and determined for the Commission of the Merchants of this Company resiant_ (_resident_) _in Russia_, _and at the Wardhouse_, _for the second voyage_, 1555, _the first of May_, _as followeth_.