Dissertation_A Bick_May 25 - DataSpace at Princeton University

was described as a subsidy, to be paid in five annual installments of 200,000 guilders each. 50 In
the March draft, however, the language was changed so that half of this amount came in return
for company stock, with the States General “enjoying and sustaining profit and risk in the same
manner as all other participants in the company.” 51 Here, and for the first time, the States
General appeared in the charter as an owner.
The resolutions of the Amsterdam city council make clear that Amsterdam's merchants
opposed all three of these changes. Most upset were the merchants trading to Guinea, who had
long argued that the charter should be restricted to America alone, and were justifiably
concerned that their profitable trade would suffer as a result of inclusion within the monopoly
company. 52 On April 10, 1620 the city agreed to the new draft with the important qualifications
that the new chamber given to Groningen and Friesland must not serve as a precedent for
discussions about the VOC, and that:
Concerning the ten-hundred thousand [i.e., one million] guilders to be furnished as a subsidy to
the West India Company, it is understood that, while we consent to the foresaid sum, the
Generality must not be a participant with part of the company, or in any case not further than with
three-hundred thousand guilders, leaving seven-hundred thousand guilders as a subsidy; and that
the Generality does not appear in the meetings of the foresaid company with more than one
person, who may appear as president, though without any responsibility to direct the company's
affairs. 53
50 NA 1.01.07 inv.nr. 12564.1, fol. 98b.
51 NA 1.01.07 inv.nr. 12564.1, fol. 40. “Welverstaende dat wy mette helft vande voorschreve thien hondert duysent
guldens, sullen ghenieten ende dragen winste ende risico gelijck alle andere Participanten in dese Compagnie
genieten ende dragen sullen.”
52 See Van Rees, Geschiedenis der Staathuishoudkunde in Nederland tot het Einde der Achttiende Eeuw, 2:80.
53 Stadsarchief Amsterdam 5025 inv.nr. 11, entry for April 10, 1620. “Voorts wat belangt de Tienhondert Duysent
gul. by de Generaliteyt tot subsidie van de voors. Westindische Compagnie te furneren, Is verstaen, dewyle de
voors. Somme tot subsidie geconsenteert is, dat de Generaliteyt nyet en behoort met eenich gedeelte van dien In de
zelve Compagnie te participeren, Immers In allen gevalle nyet verder volgende voorgaende Instellinge als met
Driehondert Duysent guldens, blyvende de Sevenhondert Duysent guldens suyvers tot subsidie, Dat mede de
Generaliteyt nyet meer als een persoon, In de vergaderinge van de voors. Compagnie en behoort te hebben, die wel
neffens den president zoude sitten sonder nochtans eenige directie te hebben.”
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