"From 1833 the company ceased to be a trading association, but was continued in the Government of India, the country being thrown open to any British subject who chose to engage in business. All the property of the company was declared the property of the English Government, and held in trust for it by the company, which was to receive ten per cent. dividend on its stock, and the Government was privileged to buy the stock at any time at twice its par value. The last renewal of the charter was in 1854, but not for any definite period; in August, 1858, the company was virtually abolished by act of Parliament, and all its powers were transferred to the Queen, its army and navy were declared a part of the national forces, and all persons holding commissions under the company were transferred to the service of the Crown. Thus ended an association that had existed more than 250 years, and conquered a country containing nearly a fifth of the inhabitants of the globe. "Since 1858 the power of the British Government has been extended and strengthened, while that of the old 'John Company,' as it was called by the Chinese, has disappeared. The Governor-general of India is appointed by the Queen, and he lives at Calcutta in the winter season, and at Simla in the summer. There is a Governor for each of the presidencies of Madras, Bombay, and Bengal, and under him are all the local and district commissioners, collectors, and other officials. Then there are lieutenant-governors, or commissioners, for the Punjaub, North-west Provinces, Oude, Central Provinces, and Scinde; while the provinces of Hyderabad, Mysore, and one or two others are controlled directly by the Governor-general. The villages manage their own affairs, subject to the approval of the officer in charge of the district where they are located, and the native magistrates are held responsible for the good conduct of their subjects. In some parts of the country the land is leased to _zemindars_ or large landholders, and sublet by them to the villages; in others the villages lease from the Government; and in others the individual cultivators take leases and pay their taxes without the intervention of anybody.