The Works of the Right Honourable Edmund Burke, Vol. 08 (of 12)Burke, Edmund
History
The Works of the Right Honourable Edmund Burke, Vol. 08 (of 12)
Burke, Edmund
Great Britain -- Politics and government -- 1760-1820; Political science -- Early works to 1800
By this extraordinary scheme the Company is totally overturned, and all
its relations inverted. From being a body concerned in trade on their
own account, and employing their servants as factors, the servants have
at one stroke taken the whole trade into their own hands, on their own
capital of 800,000_l._, at their own risk, and the Company are become
agents and factors to them, to sell by commission _their_ goods for
_their_ profit.
To enable your Committee to form some judgment upon the profit which may
accrue to the Company from its new relation and employment, they
directed that an estimate should be made of the probable proceeds of an
investment conducted on the principles of that intended to be realized
for 1783. By this estimate, which is subjoined,[5] it appears to your
Committee, that, so far from any surplus profit from this transaction,
the Bengal adventurers themselves, instead of realizing 2_s._ 2_d._ the
rupee, (the standard they fix for their payment,) will not receive the
1_s._ 9_d._ which is its utmost value in silver at the Mint, nor
probably above 1_s._ 5_d._ With this certain loss before their eyes, it
is impossible that they can ever complete their subscription, unless, by
management among themselves, they should be able to procure the goods
for their own account upon other terms than those on which they
purchased them for their masters, or unless they have for the supply of
the Company on their hands a quantity of goods which they cannot
otherwise dispose of. This latter case is not very improbable, from
their proposing to send ten sixteenths of the whole investment in
silk,--which, as will be seen hereafter, the Company has prohibited to
be sent on their account, as a disadvantageous article. Nothing but the
servants being overloaded can rationally account for their choice of so
great a proportion of so dubious a commodity.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account