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
The City of London, indeed, is _now_ an exception, and apparently a very
weighty one, to this general call; but it will lose much of that weight
with the Public, and must fall into the scale of an interested party,
when it is recollected, that so long as the question between the Company
and the Public was, whether the commerce with India should remain a
strict monopoly, or whether a participation in it should be granted to
individuals, under the restriction of importing to London the
commercial interest of the metropolis was powerfully incited against the
Company; and that, to that great commercial interest, supported by the
weight of Mr. Dundas's opinion, and to the more enlarged view which Lord
Wellesley took of the subject, the extension that has hitherto been
given to the private trade with India is to be attributed. The
experience of twelve years has now proved, that both India and the
parent state have greatly benefited by that extension; and it has
followed, as a necessary consequence of that experience, that the active
and intelligent merchants of the other large ports of the United
Kingdom, have urged their fair pretensions, to be admitted to a share in
the profits of that widely diffused trade; by sending their merchandise
from their own ports, and by receiving the returning cargoes into their
own warehouses, in those ports.
A reference to the printed papers (as has already been signified) will
show, that the Court of Directors were prevailed upon to concede _the
first_ of those points, but that they have been immoveable with respect
to _the second_; although their own commercial knowledge must have made
it evident to them, that the concession of the first, that is, _a free
export_, would be nugatory, unless supported by the benefit arising from
the _freedom of import_; which is not only in the proportion of four to
one in amount to the export, but is requisite to give that unity to the
concern, without which great commercial establishments cannot be kept
up.
Public-domain text, read in full here on John Shaqi.
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