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and without the monopoly privilege the necessary shares could not be sold. The first English company of moment, chartered in 1618, confined its trade to gold and other produce. Richard Jobson while in its service on the Gambia was offered some slaves by a native trader. "I made answer," Jobson relates, "we were a people who did not deal in any such commodities; neither did we buy or sell one another, or any that had our own shapes; at which he seemed to marvel much, and told us it was the only merchandize they carried down, and that they were sold to white men, who earnestly desired them. We answered, they were another kind of people, different from us; but for our part, if they had no other commodities, we would return again."[3] This company speedily ending its life, was followed by another in 1631 with a similarly short career; and in 1651 the African privilege was granted for a time to the East India Company.

      [Footnote 3: Richard Jobson, The Golden Trade (London 1623,), pp. 29, 87, quoted in James Bandinel, Some Account of the Trade in Slaves from Africa (London, 1842), p. 43.]

      Under Charles II activities were resumed vigorously by a company chartered in 1662; but this promptly fell into such conflict with the Dutch that its capital of £122,000 vanished. In a drastic reorganization its affairs were taken over by a new corporation, the Royal African Company, chartered in 1672 with the Duke of York at its head and vested in its turn with monopoly rights under the English flag from Sallee on the Moroccan coast to the Cape of Good Hope.[4] For two decades this company prospered greatly, selling some two thousand slaves a year in Jamaica alone, and paying large cash dividends on its £100,000 capital and then a stock dividend of 300 per cent. But now came reverses through European war and through the competition of English and Yankee private traders who shipped slaves legitimately from Madagascar and illicitly from Guinea. Now came also a clamor from the colonies, where the company was never popular, and from England also where oppression and abuses were charged against it by would-be free traders. After a parliamentary investigation an act of 1697 restricted the monopoly by empowering separate traders to traffic in Guinea upon paying to the company for the maintenance of its forts ten per cent, on the value of the cargoes they carried thither and a percentage on certain minor exports carried thence.

      [Footnote 4: The financial career of the company is described by W.R.

       Scott, "The Constitution and Finances of the Royal African Company of

       England till 1720," in the American Historical Review, VIII. 241–259.]

      The company soon fell upon still more evil times, and met them by evil practices. To increase its capital it offered new stock for sale at reduced prices and borrowed money for dividends in order to encourage subscriptions. The separate traders meanwhile were winning nearly all its trade. In 1709–1710, for example, forty-four of their vessels made voyages as compared with but three ships of the company, and Royal African stock sold as low as 2–⅛ on the £100. A reorganization in 1712 however added largely to the company's funds, and the treaty of Utrecht brought it new prosperity. In 1730 at length Parliament relieved the separate traders of all dues, substituting a public grant of £10,000 a year toward the maintenance of the company's forts. For twenty years more the company, managed in the early thirties by James Oglethorpe, kept up the unequal contest until 1751 when it was dissolved.

      The company régime under the several flags was particularly dominant on the coasts most esteemed in the seventeenth century; and in that century they reached a comity of their own on the basis of live and let live. The French were secured in the Senegal sphere of influence and the English on the Gambia, while on the Gold Coast the Dutch and English divided the trade between them. Here the two headquarters were in forts lying within sight of each other: El Mina of the Dutch, and Cape Coast Castle of the English. Each was commanded by a governor and garrisoned by a score or two of soldiers; and each with its outlying factories had a staff of perhaps a dozen factors, as many sub-factors, twice as many assistants, and a few bookkeepers and auditors, as well as a corps of white artisans and an abundance of native interpreters, boatmen, carriers and domestic servants. The Dutch and English stations alternated in a series east and west, often standing no further than a cannon-shot apart. Here and there one of them had acquired a slight domination which the other respected; but in the case of the Coromantees (or Fantyns) William Bosman, a Dutch company factor about 1700, wrote that both companies had "equal power, that is none at all. For when these people are inclined to it they shut up the passes so close that not one merchant can come from the inland country to trade with us; and sometimes, not content with this, they prevent the bringing of provisions to us till we have made peace with them." The tribe was in fact able to exact heavy tribute from both companies; and to stretch the treaty engagements at will to its own advantage.[5] Further eastward, on the densely populated Slave Coast, the factories were few and the trade virtually open to all comers. Here, as was common throughout Upper Guinea, the traits and the trading practices of adjacent tribes were likely to be in sharp contrast. The Popo (or Paw Paw) people, for example, were so notorious for cheating and thieving that few traders would go thither unless prepared to carry things with a strong hand. The Portuguese alone bore their grievances without retaliation, Bosman said, because their goods were too poor to find markets elsewhere.[6]But Fidah (Whydah), next door, was in Bosman's esteem the most agreeable of all places to trade in. The people were honest and polite, and the red-tape requirements definite and reasonable. A ship captain after paying for a license and buying the king's private stock of slaves at somewhat above the market price would have the news of his arrival spread afar, and at a given time the trade would be opened with prices fixed in advance and all the available slaves herded in an open field. There the captain or factor, with the aid of a surgeon, would select the young and healthy, who if the purchaser were the Dutch company were promptly branded to prevent their being confused in the crowd before being carried on shipboard. The Whydahs were so industrious in the trade, with such far reaching interior connections, that they could deliver a thousand slaves each month.[7]

      [Footnote 5: Bosman's Guinea (London, 1705), reprinted in Pinkerton's Voyages, XVI, 363.]

      [Footnote 6: Ibid., XVI, 474–476.]

      [Footnote 7: Ibid., XVI, 489–491.]

      Of the operations on the Gambia an intimate view may be had from the journal of Francis Moore, a factor of the Royal African Company from 1730 to 1735.[8] Here the Jolofs on the north and the Mandingoes on the south and west were divided into tribes or kingdoms fronting from five to twenty-five leagues on the river, while tributary villages of Arabic-speaking Foulahs were scattered among them. In addition there was a small independent population of mixed breed, with very slight European infusion but styling themselves Portuguese and using a "bastard language" known locally as Creole. Many of these last were busy in the slave trade. The Royal African headquarters, with a garrison of thirty men, were on an island in the river some thirty miles from its mouth, while its trading stations dotted the shores for many leagues upstream, for no native king was content without a factory near his "palace." The slaves bought were partly of local origin but were mostly brought from long distances inland. These came generally in strings or coffles of thirty or forty, tied with leather thongs about their necks and laden with burdens of ivory and corn on their heads. Mungo Park when exploring the hinterland of this coast in 1795–1797, traveling incidentally with a slave coffle on part of his journey, estimated that in the Niger Valley generally the slaves outnumbered the free by three to one.[9] But as Moore observed, the domestic slaves were rarely sold in the trade, mainly for fear it would cause their fellows to run away. When captured by their master's enemies however, they were likely to be sent to the coast, for they were seldom ransomed.

      [Footnote 8: Francis Moore, Travels in Africa (London, 1738).]

      [Footnote 9: Mungo Park, Travels in the Interior Districts of Africa (4th ed., London, 1800), pp. 287, 428.]

      The diverse goods bartered for slaves were rated by units of value which varied in the several trade centers. On the Gold Coast it was a certain length of cowrie shells on a string; at Loango it was a "piece" which had the value of a common gun or of twenty pounds of iron; at Kakongo it was twelve- or fifteen-yard lengths of cotton cloth called "goods";[10] while on the Gambia it was a bar of iron, apparently about forty pounds in weight. But in the Gambia trade as Moore described it the unit or "bar" in rum, cloth and most other things became depreciated until in some

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