A. D. 1800. 515 



* tries in amity with Great Britain.' Such being the cafe, he afks, 

 What is to become of that part of the trade not occupied by the com- 

 pany ? Shall it be left exclufively to foreigners ; or fhall the monoply be 

 fo modified, as to open the furplus market to the capital of Britifh fub- 

 jeds ? He points out the propriety of foreigners trading in India on 

 their own capital [only], and obferves that the capitals of Britifli fub- 

 je&s refiding in India ought to be brought fo this country, either by the 

 parties themfelves, or by the agency of perfons licenced by, and under 

 the controul of, the company. He confiders the furplus * produce of 

 India, beyond the amount of the company's inveftments, as the proper 

 means of transferring the fortunes of the company's fervants, and India- 

 built (hipping as the proper conveyance. Confidering the transfer of 

 Britifh capital to this country as the chief bafis of this trade, he is 

 clearly of opinion, that the merchants and fhipping of this country 

 cannot with any propriety be admitted to a participation of a trade, to 

 the extenfionof which, very much beyond its prefent limits, the climate, 

 the manufactures, and the religion, of India oppofe infuperable ob- 

 flacles. 



Encouraged by fuch refpedable authority, the friends of the India 

 free merchants became exceedingly urgent for a confirmation of what 

 they now called their right to as much of the India commerce as they 

 could poflibly find capital for, with the exception of the few articles re- 

 ferved for the company's own inveftments. Newfpapers and other pub- 

 lications were employed to influence the public mind, and to prove that 

 the commercial profperity of the Britifh empire depended upon a per- 

 manent eftablifhment of the commerce of India in the channel pro- 

 pofed by the free merchants and their friends in London. 



Though the company agreed with Mr. Dundas in mofl points, yet, 

 confidering the nature and tendency of the required innovation, they 

 were by no means ready to go to the full extent of his propofitions. 

 They confidered the attempts of the private merchants to eflablifh a 

 permanent and fyflematic admiffion of their own fhips into the trade, 



* To thofe who are entirely unacquainted with chiefly by funds advanced by the company ; and 



the nature of the Eaft-India trade, the word yar- the eagernefs of the undertakers has puftied it for- 



plui mult convey an idea that a quantity of goods ward more rapidly than was confident with their 



are lying on hand for want of purchafers. But profperity. The quantity of it annually imported 



the cafe is very different. The piece goods are is already nearly fufRcient for the fupply of all 



engaged, and generally paid for, before they are Europe. Sugar may certainly be raifed in India 



made : and it is alfo ufual to make advances to the (ufficient for the confumption of all Europe : but 



cultivators before their produce is ready for fale. it cannot generally bear the freight, and can only 



The chief articles of produce, brought to this be imported with propriety when there is a failure 



country in private trade, are cotton, indigo, and In the fupply from the Weft-Indies. A continual 



fugar. Cotton can fcarcely bear the freight ; and large importation of it would ruin the Weft-India 



the abftraftion of It from India Is prejudicial to fettlements and all the Britilh fubjeds connefted 



the manufadlures of the company's fubjedls, and with them. Hence it appears that there will be 



obliges a greater quantity of bullion to be fent to little or no furplus produce, unlefs furplus capital 



China, where cotton is an acceptable payment for is previoufly employed to force it beyond its natural 



the tea. The cultivation of indigo has been level, 

 brought to a very great height in a few years, 



3T2 



