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
If the trade were confined to Bengal, and the Company were to trade on
those terms upon a capital borrowed at eight per cent Indian interest,
their revenues in that province would be soon so overpowered with debt,
that those revenues, instead of supporting the trade, would be totally
destroyed by it. If, on the other hand, the Company traded upon bills
with every advantage, far from being in a condition to divide the
smallest percentage, their bankruptcy here would be inevitable.
Your Committee then turned to the trade of the other factories and
Presidencies, and they constantly found, that, as the power and dominion
of the Company was less, their profit on the goods was greater. The
investments of Madras, Bombay, and Bencoolen have, in the foregoing four
years, upon a capital of 1,151,176_l._, had a gain upon the whole of
329,622_l._ The greatest of all is that of Bencoolen, which, on a
capital of 76,571_l._, produced a profit of 107,760_l._ This, however,
is but a small branch of the Company's trade. The trade to China, on a
capital of 1,717,463_l._, produced an excess of gain amounting to
874,096_l._, which is about fifty per cent. But such was the evil
influence of the Bengal investment, that not only the profits of the
Chinese trade, but of all the lucrative branches taken together, were so
sunk and ingulfed in it, that the whole profit on a capital of
7,045,164_l._ reached to no more than 684,489_l._, that is, to
189,607_l._ less than the profit on the Chinese trade alone,--less than
the total profits on the gainful trades taken together, 520,727_l._
It is very remarkable, that in the year 1778, when the Bengal investment
stood at the highest, that is, so high as 1,223,316_l._, though the
Chinese trade produced an excess of gain in that year of 209,243_l._,
and that no loss of moment could be added to that of Bengal, (except
about 45,000_l._ on the Bombay trade,) the whole profit of a capital of
2,040,787_l._ amounted only to the sum of 9,480_l._
The detail of the articles in which loss was incurred or gain made will
be found in the Appendix, No. 24. The circumstances of the time have
rendered it necessary to call up a vigorous attention to this state of
the trade of the Company between Europe and India.
INTERNAL TRADE OF BENGAL.
The internal trade of Bengal has next attracted the inquiries of your
Committee.
Public-domain text, read in full here on John Shaqi.
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