The Present State of the British Interest in India: With a Plan for Establishing a Regular System of Government in That Country — John Shaqi
The Present State of the British Interest in India: With a Plan for Establishing a Regular System of Government in That CountryAnonymous
History
The Present State of the British Interest in India: With a Plan for Establishing a Regular System of Government in That Country
Anonymous
Bengal (India) -- Politics and government; Great Britain -- Colonies -- India -- Administration; India -- Politics and government -- 1765-1947
I cannot then conceive what other objections could be started against
government’s taking upon itself the charge of this Indian dominion:
unless it be the old trite arguments of timid sluggish indolence, want
of enterprize, &c. That, the distance of situation rendering it
impossible for Britain to properly maintain and govern this dominion, it
would become an object of no true value or importance, but rather a
heavy load exhausting her strength. But it is now more than time for the
nation to recal her faith from men whom she hath sufficient ground to
suspect of deceit; and, rousing her senses, to take the liberty of
trying these matters by the standard of her own reason; which we shall
endeavour to aid by the following hints.
To properly demonstrate the true value and importance of this Indian
dominion to Britain, would demand a volume; we have, in the first part,
presented a slight sketch of it; here therefore we shall offer only one
or two remarks respecting its importance to our finances; and though we
do not offer these remarks as the result of exact calculation, yet will
they serve to throw a light on this subject. Ever since the last war
Britain hath paid annually to foreign creditors, in interest, about
1,500,000 l. and this is paid, not in paper, but all in hard money; or,
otherwise, in what is equivalent, the stoppage of so much hard money as
is reckoned to come into Britain by the balance of her trade. On the
other hand, the net specie balance of trade with all the world,
(exclusive of that part which strictly and properly may be termed the
produce of Indian dominion,) after deducting the imperceptible and
enormous drain of specie made by smuggling, doth not at this day perhaps
amount to 800,000 l. The difference then betwixt her numerical specie
disbursement and receipt in balance of trade, must needs have been made
good from some other fund than the circulating stock of specie,
otherwise circulation must in that number of years have totally ceased.
And this fund we need not mention to have been the dominion in India.
Ever since 1757, the private fortunes acquired there in consequence of
dominion or conquest, having been remitted either in bills on foreign
Indian companies, or in diamonds, have created an annual influx of
specie, (or what is equivalent,) to the amount of at least 700,000 l.[1]
The Company too received since that period, and previous to the Dewanny,
though by virtue of dominion or conquest, sundry large sums of money;
which she invested in merchandize; and, thereby, saved to Britain so
much specie as she would, otherwise, have transmitted for the purchase
of such merchandize; and it doth not require demonstration to prove,
that all such saving is, in every respect, the same as the influx of an
equal sum. And ever from 1765, till some time in 1770, the Company paid
for all her cargoes, not only in India but in China, with the surplus
revenue of Bengal: and of course this surplus revenue hath, for that
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