The Letters of Gracchus on the East India QuestionMiles, William Augustus
History
The Letters of Gracchus on the East India Question
Miles, William Augustus
East India Company; India -- Politics and government -- 1765-1947
From all that has been stated, it would appear, that instead of the
exaggerated picture of distress, which the advocates for a close
monopoly to the Port of London have represented as the necessary
consequence of relieving commerce from its present restrictions, we
ought to entertain a well-founded expectation; that _every class and
description of persons_, who now find employment in the Indian Trade,
will continue to have their industry called into action in the same line
of employment, and even to a greater extent, in some instances, than is
now experienced. For, unless the _union of interests_, which has so
recently taken place between the City of London and the East India
Company, should have the effect of preventing all competition between
the Merchants of London (formerly so eager to participate in the trade
with India), and the Merchants of the out-ports; it cannot fail to
happen, from the spirit of enterprise which has uniformly distinguished
the Metropolis, that the Port of London, _to which the whole India Trade
would be generally open_, will furnish its full proportion of the new
adventurers; and thus amply fill up that void, which the East India
Company affirm would be created in the Port of London, by diverting so
much of the Indian Trade to the out-ports: more especially, as all the
houses of Indian agency, which have been formed since the Act of 1793,
are established within the Metropolis.
Since this is the just prospect, which the adoption of the conditions
proposed by Government as the terms for the renewal of the Company's
Charter, opens to our view; since the share which the London Merchants
may take in the enlargement of the trade, would not fail to supply
employment for all that industry, which the Court of Directors assert
will be interrupted and suspended; while, at the same time, the
extension of that advantage will create new sources of industry in
various parts of the kingdom, without impairing or diminishing that of
London; whose will be the awful responsibility, if, by an obstinate
rejection of terms capable of yielding consequences so extensively
beneficial to the community, the Charter of the Company should not be
renewed; and if the disastrous effect should in consequence be produced,
in London and its vicinity, of "a suspended industry, interrupted
employment," and all the train of sufferings and calamities which has
been drawn out? Who will be chargeable, before the country, with "the
loss and waste of establishments which have cost upwards of a million
sterling--of shipping, to the amount of many millions--of a numerous and
respectable class of warehouse-keepers, clerks, and superior servants,
joined to three thousand labourers, and their families--of tradesmen of
various descriptions, who have incurred a very great expense for the
conduct of their business?" Who will be chargeable, in fact, with all
this destruction? Will it be the Government, who desire the East India
Public-domain text, read in full here on John Shaqi.
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