64 



29. The statistics available as regards the sea-borne trade of 

 the several provinces included in this Pre- 

 Trade. Its dimen- sidcncj for the last ccntury are, as might 

 ^^^°^' be exjjected, fragmentary and imperfect. 



In the Political Survey of the Northern Circars written by Mi*. 

 Grant and printed as appendix to the " Fifth Eeport," and 

 in Buchanan's Journey in 1800, we have scattered accounts 

 of both sea-borne and inland trade which was carried on ^^ on 

 a very small scale. According to Grant the value of the sea- 

 borne and inland trade of the Northern Circars amounted only 

 to 75 lakhs of rupees made up as follows : Exports by Euro- 

 peans of fine cloth manufactures 30 lakhs; coasting trade to 

 Madras chiefly in grain valued at 25 lakhs ; exports of coarser 

 cloths for the Eastern markets 10 lakhs ; and inland trade in 

 salt and piece-goods 10 lakhs. In 1889-90, in the single port 

 of Cocanada, the value of the sea-borne trade amounted to 200 

 lakhs. Fairly reliable statistics are available in regard to sea- 

 borne trade since the beginning of the centuryj and the rapid 



36 We must be on our guard against accepting too literally the exaggerated accounts 

 given of the trade of India by ancient writers. The want of communications, as we have 

 already seen, made it impossible for any extensive trade being carried on in bulky articles 

 in general demand among the people. The chief articles of export were cotton muslins 

 of the finest texture and printed cloths, silk and spices, and latterly coarse cloths and 

 indigo. India received the value of the exports in gold and silver, as all necessaries of 

 life were produced in the country, the imports being small quantities of tin, lead, glass, 

 amber, steel for arms and frankincense from Arabia. In these circumstances, the trade 

 of India, in former times, though large perhaps as compared with the trade of other 

 countries, must have been of small proportions when j udged by modern standards, and 

 was carried on intermittentlj' ; for, other countries could not afford to be sending precious 

 metals continually to India, as the rise of prices in India under such circumstances 

 must have extinguished the trade, unless there was a large demand for the productions 

 of Europe in India. The articles in demand in Europe were such as only the richest 

 classes forming an insignificant portion of the population could purchase. For instance, 

 spices were much esteemed in Europe, the Indian trade being there known as the spice 

 trade. The price of such articles as pepper, cardamoms, &c., was as high as lis. a lb. in 

 the 14th cent urj'-, that is more than ten times the price in India, taking the nominal 

 values, while the purchasing power of money was between 8 and 12 times of what it is at 

 present. The difference between the prices of articles in India and in Europe was 

 reduced after the discovery of the Cape of Good Hope, but still it was very considerable. 

 For instance, the price of pepper which was 8s. a lb. was reduced to Is. ^d. a lb. In 

 1621 Mr. Munn, one of the Directors of the East India Company, estimated the quantity 

 of Indian articles imported and theii- prices at the places of export and import as 

 follows : — 



Ordinary coarse cloths called "calicoes" which cost 7s. in India were sold in England 

 at 21s. apiece. In the first quarter of the century the value of articles exported from 

 India to Europe was estimated at about half a million sterling. The value of bullion 

 and merchandize imported by the East India Company into Bladras from 1708 to 1811, 

 a period of 104 years, was 20 millions sterling— bullion 12 millions and m-3rchandize 

 8 millions. 



