Unfortunately, this faggot-voting brought with it a corrupt atmosphere. Appointments under the Company were a common bribe, and as the Court of Directors had to be reappointed every year, there was endless opportunity for jobbery. So, after a time, opposition to the monopoly of the trade began once more to take form. Proposals for yet a new company were floated. Parliament once more took up the matter; which was finally settled by the existing company offering £200,000 to Government, and a reduction of 1 per cent. on the rate of interest payable on the previous loan of some three-and-a-half millions (that is to say, a yearly income of £35,000), as payment for the extension of their monopoly till 1766. This offer was accepted, and in 1744 the term of monopoly was still further extended until 1780, in consideration of a further loan to Government of £1,000,000 sterling at the low rate of 3 per cent. Coming as it did in the middle of a very expensive war, the temptation of this pecuniary assistance must have been potent; but there can be but little doubt that, publicly at any rate, the trade of India suffered considerably from the exclusion of private enterprise. Certain it is that while the English East India Company found themselves forced to reduce their dividends to 7 per cent, the Dutch Company was dividing 25. Altogether, then, it is not surprising that, until the French, by assuming the aggressive, forced the East India Company to bestir itself, it did nothing of importance in the way of progress. THE GAME OF FRENCH AND ENGLISH A.D. 1742 TO A.D. 1748 The eye of France had been on India for a century and a half, for it was in 1601 that a fleet of French merchant ships set out from St Malo for Hindustan, but failed of their destination. The first French East India Company was formed in 1604, the second in 1611, a third in 1615; a fourth was founded by Cardinal Richelieu in 1642, yet a fifth in 1664, and finally a sixth, made up by the co-ordination of various older ventures, began in 1719 to trade under the name of "Compagnies des Indes." There was thus no lack of organisation; of action, there had been, up to 1742, comparatively little. They had secured a factory at Surat, they captured Trincomalee from the Dutch, and they had occupied Pondicherry, which they still hold. Aurungzebe had ceded Chandanagore to them, and they had also obtained Mahé and Karikal, which they bought from the Râjah of Tanjore. This, then, was the position of France in India when, in the year 1742, the office of Governor was bestowed on one Joseph Dupleix. He had spent his life in India, had amassed a huge private fortune by private trade, but at the same time had done his duty by the company of which his father had been a director.