PRIVATE TRADE RENEWAL OF CHARTER. 331 



IMPORTS. EXPORTS. 



Prime cost of goods.... 1,512,506Z 135,530/. 



Freight,&c 103,050 



Charges 57,592 5,419 



1,673,148 140,949 



Saleamount 1,151,856 74,550 



Loss on imports 521,292 66,399 



" exports 66,399 



Total loss 587,691 



It is stated by Mr. Gordon, that freight, which in the 

 company's service amounted in 1814 to 251. and sometimes 

 as high as 50 guineas per ton, has been reduced in conse- 

 quence of competition to 30*. and even 15s. per ton. From 

 the same cause the price of Indian goods has also been 

 greatly lowered. Cotton has fallen from Is. 3d. to 5d., 

 pepper from Is. or Is. 3d. to 3d. a pound. The advocates 

 of the company indeed allege that these things have been 

 achieved by the private merchants at the price of their own 

 ruin ; and that the sales had been forced by glutting the 

 markets to such a degree as has obliged the holders to sell 

 often much under prime cost. This, no doubt, has been 

 the case to a considerable extent ; but it is alleged on the 

 other side, that the tendency to overtrade is inevitably 

 prompted by British enterprise in every branch, especially 

 one newly opened ; and that the extremely low prices have 

 introduced the articles into consumption among the natives, 

 who are now willing to pay a more adequate value. 



The period for which the charter was last renewed being 

 now about to expire, the conditions and extent to which 

 such privileges will be prolonged are the subject of some 

 anxiety. The leading question is that respecting the 

 China trade, of which the company still retain the exclusive 

 possession, and gain from it about as much as they lose on 

 that with India ; but this point does not belong to our 

 present subject. In regard to Hindostan, the main points 

 for consideration are, whether private merchants shall be 

 allowed to proceed to the smaller ports or into the interior 

 without license ; and whether individuals shall be permitted 

 to establish a permanent residence and to hold lands in 

 India. On the one hand it is urged, that such arrange- 



