RAW-SILK. 



XXV 



At the time when the produce and quality of Report. 

 Bengal raw-silk had thus advanced, the state of 

 trade at home bore a most unfavourable aspect. 

 The revolution in France had given a severe check 

 to commercial activity. Its influence was felt not 

 only in this country, but in every market upon the 

 continent universal alarm prevailed ; mercantile 

 transactions were in a great degree suspended, and 

 manufacturers in general were nearly at a stand ; 

 from the failures that ensued confidence was lost, 

 and commercial credit was reduced so low, that 

 Government felt it necessary to resort to the 

 unusual expedient of assisting the merchants with 

 a loan of Exchequer-bills to a considerable amount. 

 The silk trade participated largely in the prevailing 

 distress, and experienced indeed a more than ordi- 

 nary depression. 



Great numbers of weavers were out of employ ; 

 the usual buyers were loaded with heavy stocks 

 of unsaleable goods ; the Company had a large 

 quantity of silk in warehouse unsold; and the 

 importations in the approaching season were 

 expected to be considerable. To guard against 

 future losses, and if possible, to secure to Bengal 

 the advantages anticipated from increased pro- 

 duction, the Court were led to adopt the further 



measure 



