The Letters of Gracchus on the East India Question — John Shaqi
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
To shorten the discussion, however, let the Proprietors and the Company
take the following compressed view, of the probable consequences which
would severally result, from a _compliance with_, or _rejection of_, the
proposition made by Government, as the basis of a new Charter; and let
them consider, in _which of the two_ they foresee the greatest security
for their own future interests.
If, upon maturely weighing the case before them, the Company should
accede to the proposition of Government; and if an arrangement, founded
upon that proposition, should receive the sanction of Parliament;
1. The Company will preserve _the entire China trade_; and this
principal sphere of their commercial profit, will remain undisturbed.
2. They will possess advantages for continuing to carry on the India
trade, so far superior to those of all private competitors, from _their
territorial and commercial revenues_, that, with a moderate exertion of
their activity, they may preserve almost the whole of that trade.
3. They will possess _the regulation and control of the India trade_, so
far as depends upon the Indian Governments; and as those Governments
will continue in the exercise of the executive power, all the private
Merchants, who may repair to the ports and harbours within the extensive
limits of their jurisdiction, will of course _be subject to the
authority of their Government_.
4. They will retain the whole patronage and expenditure of a revenue of
upwards of _Fifteen Millions_ sterling per annum in India, together with
very extensive establishments at home, depending upon that revenue.
5. The accounts between the Public and the Company, being brought to no
sudden and violent crisis of settlement, may be amicably and leisurely
adjusted, with a view to mutual convenience.
On the other hand, should the Company incautiously drop the _substance_
to pursue the _shadow_, and refuse the proposition of Government; and
should Parliament, upon a full and deliberate consideration of the
actual circumstances of the Company, deem it more advisable to bring
their accounts with the Public to a thorough investigation and final
settlement, than to admit the Company's new pretensions to _a perpetual
monopoly_;
1. The Company will lose as much of the China trade as may fall into the
hands of the private merchants, who _think_ they shall be able to sell
tea 85 per cent. cheaper than the Company.
2. They will lose the control of the India commerce, _and will carry on
their traffic in India as subjects_, in common with the private British
merchants.
3. By that loss, voluntarily incurred, they may throw the greatest part
of the trade into the hands of the private traders.
4. They will _lose the patronage of India, and the establishments
depending upon it_; which they will thus compel Parliament, contrary to
the disposition of Government, to place under different arrangements.
Public-domain text, read in full here on John Shaqi.
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