XXXVI. Swellengrebel to P.H. Gilquin,
29.12.1787
Lack of information has delayed my answer to your letter of the 24th of May. After the restoration of the Stadtholder in September it has become possible to try - despite some unfortunate yet inevitable delays - to restore the finances of the Company. At the Stadtholder's suggestion the XVII have appointed a commission of 5 Directors, all of whom are competent and zealous. Its proposals must be considered by the various Chambers, resulting in a delay which might be fatal in view of the urgent nature of the Company's problems. Without money it cannot trade and without trade it can make no profits and so cannot maintain its colonies. Some believe that the Company is strong enough fully to restore its position within 25 years if a temporary loan were afforded and wisely employed. They flatter themselves. I should like to live long enough to see that fulfilled!
For immediate necessities, subscriptions have been opened for a loan to the Company for 4 months of a million guilders at 4% interest. 700 000 guilders have already been subscribed and negotiations are under way for obtaining a further 2 millions of English capital when the ships already ready to sail, call at Portsmouth. However, some idea of the amounts required for restoring the Company's trade, particularly with China (for which cash is needed), is that 2 300 000 guilders were needed to finance the cargoes of 2 ships only. At the time the Company had only 700 000 gl. available.
At last the difference of opinion between the Chambers of Amsterdam and Zeeland on the appointment of a fiscal at the Cape has been settled. Van Lijnden tot Blitterswijk is to be chosen ... The strong feeling that formerly existed against Lutherans in high positions at the Cape seems to be abating somewhat.
It seems to me that a garrison of about 5 000 men would be welcome at the Cape. To lessen the costs a number of soldiers could be hired out to the farmers in the interior. If they helped as farmhands, they would not need full pay from the military. Once a week or perhaps once a month they could do military exercises. Even if slavery would limit the scope for their employment on farms, across the mountains the farmers have fewer slaves and would welcome European help, especially once they learned that European labour was more productive and cheaper. These soldiers would also be able to protect the East coast regions against attack. Please let me have your views on this matter.
(The possibility of various appointments in the Netherlands is discussed.
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