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
space, saved, (which is the same as gained) annually to Britain, the
whole sums which the Company used to transmit for the purchase of her
cargoes in India and China; and which, on an average, may be reckoned
500,000 l. _per annum_: but these cargoes were, from 1765, encreased to
an enormous degree; and if we add only 200,000 l. for such encrease, we
shall find that the surplus revenue of Bengal hath, by the return of
trade, created an annual influx to Britain of at least 700,000 l. in
specie: and this, added to the private fortunes, makes 1,400,000 l.
received yearly by Britain, from Indian dominion.
But, for these two years past, the ruinous situation of those countries,
and the consequent deficiency of revenue, hath obliged the Company to
either transmit money from Europe, or otherwise to borrow money abroad,
on bill or bond, for the purchase of all her cargoes in India as well as
China: and the Company, by thus borrowing, for the purchase of cargoes,
and even the expence of her government, hath absorbed the private
fortunes, which, till then, had been transmitted to Britain, by bills on
foreign companies. We must therefore perceive, without descending to
tedious investigation, that the ruined state of those countries, having
cut off surplus revenue, hath, for these two years past, diminished the
annual influx to Britain from Indian dominion, at least one half, or
700,000 l. And this diminution of influx, whilst our drain continues the
same, we already begin to feel in our circulation: though this felt
effect is not yet traced up to its cause. Of what mighty importance then
must this Indian dominion have been, to the circulation of Britain: when
this circulation feels severely, from only two years partial deprivation
of the benefit formerly derived from that dominion? And what effect must
a total deprivation of that benefit operate, in a few years, on this
circulation; whilst, we are continuing to pay to our foreign creditors
about 1,500,000 l. _per annum_ in numerical specie; exclusive of other
less noted drains, which, it is most probable mount it up much higher?
And yet it is evident, that Britain must, unavoidably, be deprived of
this whole benefit, so soon as she shall lose her dominion in India;
whether that loss shall be caused by enemies, or by the ruin of the
countries subjected. Nay, by losing the dominion of Bengal singly, she
must not only incur a deprivation of almost the whole dominion benefit;
but she must likewise lose by far the most valuable part of that
commerce, which was carried on by the Company with those countries,
previous to dominion. For the commerce with Bengal, alone, is of much
greater value, than that with all the rest of India: and, as to the
trade with China, it is the most pernicious and losing trade to the
nation; however convenient it may be to government.
Public-domain text, read in full here on John Shaqi.
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