The Tinnevelly Pearl Banks. 421 



caution should be taken, in order that the banks might receive 

 no injury during the interval. The chank fishery off Tuticorin 

 was ordered to be entirely put a stop to at the termination of 

 the contract, and vessels were provided to protect the pearl 

 banks from poachers, on board one of which Captain Robertson 

 was unfortunately lost in March, 1859. 



Captain Robertson was succeeded as Master Attendant of 

 Tuticorin and Superintendent of the Tinnevelly Pearl Banks by 

 Captain Phipps, to whose zeal and intelligence the fishery owes 

 its present hopeful condition, and under whose auspices the 

 fishery of March, 1860, the first that had been attempted since 

 1830, was opened. 



A Government pearl fishery is a most legitimate source of 

 revenue, and forms an exception to all other monopolies ; 

 which, as a rule, have in modern times been justly condemned. 

 But pearls are simply articles of luxury in the strictest 

 meaning of the word; the seas in which they grow cannot 

 well become private property; and, if a profit can be de- 

 rived from their sale, it is certainly a branch of revenue which 

 can give just cause of complaint to no man, while it benefits the 

 community at large. In India, too, the Government are 

 possessed of advantages which enable them to get the work of 

 superintendence and management done with far greater 

 economy and efficiency than could be secured by any private 

 individual or company. So high an authority as Mr. McCulloch 

 has taken an opposite view, and says that the Government 

 monopoly ought to be abolished, because the expense of 

 guarding and managing the banks exceeds the sum for which 

 the fishery is let, and that any one who likes should be allowed 

 to fish on paying a moderate license duty. The last edition of 

 the Commercial Dictionary was published in 1860, and during 

 the two following years the Tinnevelly pearl fishery yielded a 

 large nett revenue to the Government, which is a sufficient 

 answer to Mr. McCulloch's argument. It is true that there 

 has since been disappointment ; but the way to secure regular 

 annual returns is by adopting a carefully considered scientific 

 system of conservancy, and not by throwing the banks open to 

 the depredations of all comers. 



The fishery of 1861 commenced on March 7th, and the sale 

 of the Government share of oysters was conducted by public 

 auction, which began at Rs. 15, and gradually rose to Rs. 40 

 per 1000. As many as 15,874,500 shells were sold, realizing 

 upwards of £20,000, as the nett result to Government, exclusive 

 of all expenses, and of the shares allowed to the divers. The 

 annual expense of the guard boats for protecting the banks is 

 only £500. 



In 1862 the results of the fishery were also satisfactory; 



VOL. IV. — NO. VI. P P 



