The charter of privileges in thirty-seven articles, which were to be in force for twelve years, “from May 1, 1627, until May 1, 1639,” was signed by the King on June 6, 1626. “We have maturely considered,” says the charter in the name of the King, “and as far as it is in our power we have sought to bring it about that the advantages, profits and welfare of our kingdom and of our faithful subjects as well as the propagation of the Holy Gospel might be in the highest degree improved and increased by the discovery of additional commercial relations and navigation.” The company thus chartered was to make settlements (although a secondary object) on hitherto unoccupied territory and was given sole right to trade “in Africa, Asia, America and Magellanica or Terra Australia, beginning on the coast of America in the same latitude as ... the Strait of Gibraltar unto the 36th degree” and no one else was permitted to sail to these parts “nor to any country or island lying between Africa and America,” on pain of confiscation of ships and cargoes. The management of the company was minutely provided for. One director, with a salary of 1,000 D., holding office for a term of six years, was to be elected by a majority of the shareholders qualified to vote, or appointed from the eligible members, for every 100,000 D. subscribed. The head department or office of the company was to be located in Gothenburg, and sub-officers were to be established at various other places. A duty of 4 per cent. was to be paid by the company on all exports and imports (except coined or uncoined silver and gold, received in payment for merchandise); and one-fifth of all minerals discovered in the occupied territories and one-tenth of the produce of the cultivated lands in the established colonies were to be given to the government. All booty seized from pirates and other enemies was to revert to the company for the defense of the trade, unless a Swedish man o’ war was present at the capture. The company was to be under the special protection of the government, and the King was to appoint a council from amongst the most prominent shareholders, which at the expense of the government was to provide for the building and garrisoning of all fortifications necessary in the colonies, establish courts of justice, make good laws, appoint governors, commanders and other officers, as well as to settle all difficulties between the colonists and the natives in the occupied districts. The company also had a right to build its own fortifications and to found cities and towns. It could make treaties with the republics and with the kings and princes of all countries lying within the limits of the charter; it had a right to defend itself against enemies, but was not to begin hostilities. Finally it was to pay Usselinx for “his services, trouble and great expense” one per mill, as long as the charter was in force. The conditions of membership were liberal and special inducements were