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Therefore it must heedes be concluded that they came by the North partes of America through that discouered sea of 950 leages, and that they were of those people which Francisco Vasques of Coronado discouered, all which premises considered there remaineth no more doubting but that the landes are disioyned and that there is a Nauigable passage by the Norwest, of God for vs alone ordained to our infinite happines and for the euer being glory of her maiestie, for then her stately seate of London should be the storehouse of Europe: the nurse of the world: and the renowne of Nations, in yielding all forraine naturall benifits, by an easie rate, in short time returned vnto vs, and in the fulnes of their natural perfection: by natural participation through the world of all naturall and artificiall benefites, for want whereof at this present the most part liue distressed: and by the excellent comoditie of her seate, the mightines of her trade, with force of shipping thereby arising, and most aboundant accesse and intercourse from all the Kingdomes of the worlde, then should the ydle hand bee scorned and plenty by industry in all this land should be proclamed.

And furthermore we of our ample and aboundant grace, meere motion, and certaine knowledge haue graunted, and by these presents for vs our heyres and successours doe graunt vnto the said Gouernours and companie of marchantes of the Leuant, that they and such onely as be and shall be of that companie, shall for the sayd terme of twelue yeeres haue, vse, and enioy the whole and onely trade and traffike, and the whole entire and onely libertie, vse, and priuilege of trading and traffiking, and vsing feate of marchandise by and through the Leuant seas otherwise called the Mediterran seas into and from the sayd dominions of the Grand Signor, and dominions of the state of Venice; and by and through the sayd Grand Signors dominions to and from such other places in the East Indies discouered as aforesayd.