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
Had this been true, Mr. Hastings's conduct could admit of no excuse. He
ought not to burden a falling market by long and heavy engagements. He
ought studiously to have kept in his power the means of proportioning
the supply to the demand. But his arguments, and those of the Council on
that occasion, do not deserve the smallest attention. Facts, to which
there is no testimony but the assertion of those who produce them in
apology for the ill consequences of their own irregular actions, cannot
be admitted. Mr. Hastings and the Council had nothing at all to do with
that business: the Court of Directors had wholly taken the management of
opium out of his and their hands, and by a solemn adjudication fixed it
in the Board of Trade. But after it had continued there some years, Mr.
Hastings, a little before his grant of the monopoly to Mr. Sulivan,
thought proper to reverse the decree of his masters, and by his own
authority to recall it to the Council. By this step he became
responsible for all the consequences.
The Board of Trade appear, indeed, to merit reprehension for disposing
of the opium by private contract, as by that means the unerring standard
of the public market cannot be applied to it. But they justified
themselves by their success; and one of their members informed your
Committee that their last sale had been a good one: and though he
apprehended a fall in the next, it was not such as in the opinion of
your Committee could justify the Council-General in having recourse to
untried and hazardous speculations of commerce. It appears that there
must have been a market, and one sufficiently lively. They assign as a
reason of this assigned [alleged?] dulness of demand, that the Dutch had
been expelled from Bengal, and could not carry the usual quantity to
Batavia. But the Danes were not expelled from Bengal, and Portuguese
ships traded there: neither of them were interdicted at Batavia, and the
trade to the eastern ports was free to them. The Danes actually applied
for and obtained an increase of the quantity to which their purchases
had been limited; and as they asked, so they received this indulgence as
a great favor. It does not appear that they were not very ready to
supply the place of the Dutch. On the other hand, there is no doubt that
the Dutch would most gladly receive an article, convenient, if not
necessary, to the circulation of their commerce, from the Danes, or
under any name; nor was it fit that the Company should use an extreme
strictness in any inquiry concerning the necessary disposal of one of
their own staple commodities.
Public-domain text, read in full here on John Shaqi.
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