London and Its Environs Described, vol. 2 (of 6): Containing an Account of Whatever is Most Remarkable for Grandeur, Elegance, Curiosity or Use, in the City and in the Country Twenty Miles Round ItAnonymous
History
London and Its Environs Described, vol. 2 (of 6): Containing an Account of Whatever is Most Remarkable for Grandeur, Elegance, Curiosity or Use, in the City and in the Country Twenty Miles Round It
Anonymous
London (England) -- Description and travel -- Early works to 1800; London (England) -- Gazetteers -- Early works to 1800
As to the management of this company, 500_l._ in the company’s stock
gives the owner a vote in the general courts, and 2000_l._ qualifies
a person to be chosen a Director. The Directors are twenty-four in
number, including the Chairman and Deputy Chairman, who may be
reelected four years successively. The Chairman has a salary of
200_l._ a year, and each of the Directors 150_l._ A court of the
Directors is held at least once a week, at the East India House; but
they are commonly held oftener, they being summoned as occasions
require.
Out of the body of Directors are chosen several committees, who have
the peculiar inspection of separate branches of the company’s
business; as the committee of buying, committee of correspondence,
committee of accounts, committee of the treasury, a house committee,
a warehouse committee, a committee of shipping, a committee to
prevent the growth of private trade, and a committee of law suits.
The East India company export bullion to a very great value, with
woollen cloth, lead, and some other English commodities; and import
China ware, tea, cabinets, raw and wrought silks, calicoes, chints,
pepper, &c. but all the wrought silks, and calicoes, are to be
exported again.
All the goods imported by the company are to be sold openly by inch
of candle, on pain of forfeiting one half to the King, and the other
to the prosecutor.
East India stock is esteemed in law, personal estate, and the shares
exempt from taxes.
[Illustration:
_East India House._
_S. Wale delin._ _B. Green sculp._
]
EAST INDIA HOUSE, on the south side of Leadenhall street, and a little
to the west of Lime street. This edifice was built on the place
where anciently stood the city house of the Lord Craven, and his
ancestors. The present structure was erected by the company in the
year 1726. It is a plain Doric on a rustic basement, and has not
much to be found fault with or commended. It might have been justly
considered as a very fine edifice, had it been the house of a single
Director; but it is not at all equal to the grandeur of this
company, and the great figure they make in the trading world; nor
bears any proportion to the idea we conceive of this body, when we
consider, that the Directors who meet here, appoint or remove
Governors who are their servants, and yet have all the dignity and
state of Kings, some of whom seldom stir abroad without their guards
and a numerous retinue, or eat, but upon gilt plate, or the finest
China.
Public-domain text, read in full here on John Shaqi.
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