stupendous political as well as commercial machines that is to be
met with in history. The trade itself is exclusive, and lodged in a
company which has a temporary monopoly of it, in consideration of
money advanced to the Government. Without entering into the history
of the East India trade, within these twenty years past, and the
Company's concerns in that country, it is sufficient to say, that,
besides their settlements on the coast of India, which they enjoy
under certain restrictions by Act of Parliament, they have, through
the various internal revolutions which have happened in Indostan,
and the ambition or avarice of their servants and officers, acquired
such territorial possessions as render them the most formidable
commercial republic (for so it may be called in its present
situation) that has been known in the world since the demolition of
Carthage. Their revenues are only known, and that but imperfectly,
to the Directors of the Company, who are chosen by the proprietors
of the stock; but it has been publicly affirmed that they amount
annually to above three millions and a half sterling. The expenses
of the Company in forts, fleets, and armies, for maintaining those
acquisitions, are certainly very great; but after these are defrayed
the Company not only cleared a vast sum but was able to pay to the
Government £400,000 yearly for a certain time, partly by way of
indemnification for the expenses of the public in protecting the
Company, and partly as a tacit tribute for those possessions that
are territorial and not commercial. This republic, therefore, cannot
be said to be independent, and it is hard to say what form it may
take when the term of its charter is expired, which will be in the
year 1794. At present it appears to be the intention of Government
that its exclusive commercial privileges shall then finally cease,
and no new charter be granted.
BILLING AND SONS, LTD., PRINTERS, GUILDFORD.
TRANSCRIBER'S NOTES
1. Silently corrected simple spelling, grammar, and typographical
errors.
2. Retained anachronistic and non-standard spellings as printed.
3. Enclosed italics font in _underscores_.
4. Enclosed bold font in =equals=.
End of Project Gutenberg's Source Book of London History, by P. Meadows