Part 3 of 3
But this is not the only honorable feat that we have performed on this occasion; we have delivered up to this well-paying Nabob, all such of the natives as had adhered to the English interest, and had been so remarkably serviceable to Col. Clive. These, one would imagine, merited our protection; but instead of it they were all, and among them the Nabob of Patna, thrown into the scale, and immediately on being delivered, were by this our faithful ally put to the torture, that they might discover their treasure, and after that, for the crime of attachment to the English, put to a cruel death. These were the chief exploits of this nature that we had the power of performing, and such baseness, must, without doubt, render the faith of the English nation, as respectable in these countries, as was the punica fides [Google translate: faith in bloom] amongst the Romans. What trust, what confidence can these people, or any of their future princes repose, in such as make so light of honor and oaths. But this our friend, this purchase of his father-in-law's right, hath shown at least his judgment in his opinion of us, for soon after his promotion, he quitted the capital of his country, where his predecessors had ever resided, removing to the most northern part of his dominions, as being the most distant from his dangerous friends, wisely concluding, that whilst he remained within their reach, his dignity was no longer secure, than till a proper person was found to bid for it. He then issued forth orders for all his subjects to quit the southern parts of the country, and soon after began to interrupt and stop our commerce. At last, in a very proper season of the year he commenced hostilities, by seizing our factories, and murdering even the ambassadors who had been sent to treat with him; whose persons have ever been sacred, amongst the most barbarous nations. But what faith is to be observed with a people, who are themselves void of it? And now we are thoroughly engaged in a war with him; from which, at present, we have this change of extricating ourselves; that as he was an usurper, and unpleasing to many of those whom we ourselves obliged to be his subjects, the deposed Nabob, whom we have now again acknowledged, may possibly be able to form a party in his favor. If we act unanimously, if we are vigorous, and assembled all the force that can be collected, and strike a quick and sudden blow, the war may be at once quashed for this time. But if by disjointed counsels it be protracted, till the other Europeans settled there, can draw together a force to join our usurping Nabob, it is most probable, that on this occasion we shall receive our Coup de Grace.
In the meantime, these countries are useless to us, trade and agriculture being entirely stopped, what revenues can we draw from them, or what profit on commerce? We shall this year have a few goods: three ships dispatched from thence last year lost their passage and put back, their cargoes will arrive this year. But excepting these, and the few goods which may have been provided before the open rupture, where are we to look for more, until matters are settled, a probably very distant prospect? But whatever issue this present war may have, we may see what the force of the country, united under an active prince, with sober counsels, and a tolerable administration of the finances is capable of, even without the aid of any of the Europeans settled there. And when that once becomes the case, we may also see what we have reason to expect from them.
But the Dutch are settled in these countries as well as we; they have beheld with an invidious eye our mighty power, privileges and possessions there; to which they think we have no other right, than that of having been the first who had the good fortune to grasp at it, and which title they imagine ought to stand good no longer than till a superior force can wrest it from us. They lately made a most vigorous and well-designed effort to this end. The season seemed also favorable; when we were overmatched on the coast of Coromondel, our capital there being then threatened, and soon after invested by the French: when the greatest, and a chosen part of our troops had been detached from Calcutta on a necessary expedition to the coast of Golconda, while there remained behind little more than two hundred Europeans: at such a season arrived in the river of Bengal seven Dutch ships with six hundred Europeans, and a greater number of Indian soldiers on board. So far this plan seemed to be extremely well timed; but unluckily for them, the management of the English affairs was then in the hands of Colonel Clive, and whether it was owing to the superior address of our governor in frustrating this scheme; or whether it might be owing to the incapacity of the Dutch themselves, or perhaps to both these causes, this promising and seemingly easy enterprise, was by them executed in a most bungling manner. Our penetrating chief saw at once into the end of their views, and also their pretense for bringing these troops into the river; he well knew the consequence of admitting them into the heart of the country; and he as quickly formed his own plan of conduct. Though, far from receiving assistance or even countenance from the Nabob, though instead of being aided by the advice, he was harassed by the fears and remonstrances of his counselors, yet he remained firm and steady, and so serene, that his courage at last communicated itself to the dejected inhabitants. By the awe of his name he kept the Nabob from interposing, or even declaring his inclinations, which he certainly would have done under any other governor less respected by him. Fortunately also Colonel Ford, a gallant officer, having quitted his command at Massulipatram, arrived at Calcutta to ease our governor of some part of his burden; he, at the earnest entreaty of Colonel Clive, took upon him, though as a volunteer, the command of the few soldiers. On the disembarkation of the Dutch troops, he was sent up the river to prevent a junction of their garrison with that corps; he soon met with and dispersed the garrison, and next day attacked the other body fatigued with a long march; over which he gained a most complete victory, and by it the Dutch factory, as they at that time humbly acknowledged, lay at his mercy. Thus was this attempt frustrated by the extraordinary vigorous and prudent conduct of the then governor; I say extraordinary, because though the gentlemen in his council at that time, were equal to any of those who have been, either before or since, or who are likely in future to be employed by this company; yet I appeal to those very gentlemen, even now when the danger is over, whether they or any one of them would have presumed, in the situation they were then in, to have even attempted what this nobleman so fortunately executed. Yet one of these, the most particularly clamorous at that time, hath since formed and carried into execution an enterprise which Colonel Clive would have shuddered to think of.
But although we have reason to rejoice that our enemies were on this occasion disappointed, yet unless we retain there such governors as he was, we cannot from hence conclude, that we shall always be successful. Our very neighbors too will grow wiser by experience; their troops, on that occasion, were thinly and badly officered; but we find they are resolved to trust no longer to the Heeren Van Batavia, ragamuffin coblers and tailors. They have now sent out hardy veterans, such as have seen blood in the Prussian and Austrian services. Other circumstances too are greatly changed in their favor; the English are at present fully employed in a war with at least one, and he the most powerful of the two princes; who being in possession of the country, at the head of an army of a different mold from these of the former Nabobs, has likewise shown by the steps he has taken, that he neither expects nor desires peace with us. He will now remove all difficulties of introducing their troops into those countries; and what even a small body of Europeans joined to his army may do is needless to explain.
As to the French they are out of the question, as being supposed to have no force there; yet in this we may be deceived. Some will aver, that we ought to put confidence in the generosity of our European brethren, who certainly will not take the advantage of our distresses, and that things may yet go well; I hope, however, we shall never be reduced to trust to that, as we have already experienced the sincerity of their friendship in these very countries.
Yet how can we, should they even do all this, accuse them of acting ungenerously? In a country altogether independent of either us or them, two princes are in dispute about the succession, they each have an equal title, the grant and investiture of the English, if we are at this present in the humor to think that our first choice gives a better right than our second, they no doubt will imagine that they are at liberty to choose whether they shall think as we do or not; if they should chance to differ from us, they will say that they ought in equity to be allowed to support their opinion with the same arguments as we support ours. --
How the Dutch may act I cannot promise; but the French and English were accustomed in such like disputes to deal very genteely by each other. They used each to choose their side, neither as principals; they met in the field, under the banners of their distinct dependent; there they engaged, and slaughtered one another as much as they could, but still in a friendly manner, because there was peace betwixt the mother countries in Europe. Nay on this occasion these our brethren can account for such conduct, by arguments that must appear equitable even to ourselves; for if we do thus through wantonness of power take upon us on every lucrative view to change the prince, and by this embroil the peace of the country where they are settled with the same right as we to trade, can we expect that for such reason they are to lose their commerce, and be obliged to put themselves to the charge of maintaining expensive factories, which through our means shall become useless? No (will they say) let the common disturbers be ejected as foes to mankind and to the peace of society: But as I observed before, this present war may by unanimity in counsel, by vigorous measures, and a proper use of the other circumstances in our favor, be quashed and happily ended. However, if that should happen to be the case this time, yet while the causes remain, the effects will probably, nay inevitably be the same.
But should things take an adverse turn, and we in consequence be ejected from Bengal, let us not flatter ourselves with the hopes of an easy return there, for this reason, that we have seen the French who had been expelled so readily readmitted into these countries. Circumstances greatly alter the case betwixt us and the French. They were expelled from thence by the English in their proper character, during a national war; therefore they had to obtain the consent of the English alone for their return. But should the English be ejected, it will be not only with the concurrence, but in the name of the prince of the country, whose consent we must have to come back; and what difficulties may occur in procuring that, contrary to the interest of other, no doubt then powerful and intriguing Europeans, will too evidently appear.
In the case of the French, they had never acted in these countries but as merchants, the natives would therefore be far from sorry to see such come again amongst them. But how the English have acted there has been described, and let the lion's claws be pared ever so close, there will still be constant apprehensions of their growing again. Then that mighty fort, which with a proper garrison, with ammunition of war, provisions, and tolerable conduct, bids defiance to all the powers of India, and to all the forces that can be transported from Europe to that part of the world, falling through a defect in all these points, into the hands of more provident enemies, will forever forbid our return to those countries without their leave, and on their own terms.
As to our other settlements on the coast of Coromandel, &c. they are scarce worth mentioning after the other. However, if the French have an eye that way, there is the old field open, a competition for the Carnatic Nabobship. -- They have no settlements there? Let them find but men, it is an open coast, there are many towns, their partisan will grant them a title to settlements, which will be equally as valid with them as our Nabob's can be with us; the longest sword will decide the cause.
Before I proceed farther, let me obviate a prejudice which may be started in the minds of some of my readers, by the warmth I may have expressed in handling two opposite characters in the preceding narration. I mean the praise I have bestowed on virtue, and the abhorrence of vice. Praise is at present so common, while at the same time merit is so rare, that the just subject of praise being next to lost, the meaning of that term is likewise almost become extinct, or at least synonymous with flattery. Yet where there is real merit, praise surely is the smallest tribute we can pay it. My subject will stand the test, a candid examination will not only free me from the imputation of flattery, but will even make it appear that I have rather bestowed my encomiums with a scanty hand. As to the contrast,
who can blame me for pulling off the cloak of virtue from the foul and deformed body of vice?I have in the preceding part shown the mighty value of this trade to England; as also the dreadful consequences arising to her, from its becoming an addition to the commerce of her neighbors. I have likewise given the outlines of the nature of this company, and the capacities of those who are entrusted with this important charge; and by a genuine and just account of the situation of affairs in Bengal, I have exposed to view the grounds we may have to apprehend either a present or future loss of that which is the only valuable settlement; and from which when thrown out, we may be for ever after most easily excluded.
As to the fundamental principles and facts [As to the conduct of particulars mentioned here, they are detached from and independent of the main subject.] on which I have argued, let who will disprove them; if no one, and indeed no one can, let my countrymen then stand judges of the justice of my conclusions; and if they are allowed by them to be just, I doubt not but they will with me conclude, that a subject of so much consequence to this nation, being thus involved in difficulties, and in such imminent danger of being wrested from our hands forever, demands the care and skill of more and abler heads than of those to whom they are entrusted, and who are so far from having the power and capacity of extricating themselves from their present embarrassment, that it is to be feared they will, by irresolute and divided counsels, entangle their affairs to that degree, as to render it in time impossible for even the power and wisdom of this kingdom to clear them. I speak not this with the view of exposing to contempt the weakness of inability of the company in its accepted sense; no! my design is only to expose what they selfishly, and through a mean and false pride, have hitherto concealed. Power is naturally agreeable to all, we are all loth to declare our defects and failings; we are most of us so prejudiced in favor of our own abilities, that if we are capable of conducting an enterprise in any shape, we immediately think no one could have conducted it better. This accounts in some measure for what would otherwise be inexcuseable in these gentlemen, who in justice to their country ought to have declared some time ago, that the mighty extent of their concerns, beyond what it was when they received their last charter, had rendered their powers as well as their stock greatly unequal to the charge.
With respect to their own personal abilities, any mention of them would have been too mortifying a declaration to be expected from themselves, yet would that have occurred as a very natural consequent of the other; and one would be almost induced to suspect that the fear of discovering that consequence has so long smothered the former. It is evident that in order to preserve the existence of any
Being, the means of its support ought to be proportioned to its demands and natural wants. This nation therefore ought to be most particularly watchful over the growth of this company's concerns, and to be most minutely careful in proportioning every increase of such weight and influence, to an increase of power and of stock, as also of the abilities and even
Rank of such as are chosen to be instructed with the conduct of this increased charge; without such addition the thing must droop, dwindle and die.
When I mention an increase of power, I ought not to be understood as meaning an increase of the power of the 24 directors, such as they are at present, and who are commonly understood to mean the company; they have already more than they are capable of using properly. But let us not be suspiciously cautious of augmenting the power and privileges of this company, provided it is returned to and kept, as nearly as circumstances will permit, in the spirit of its original institution; which institution I understand to have have been as follows.
In the reign of queen Elizabeth, the merchants of England first trading to the East-Indies, were by that wise princess incorporated and formed into a company, for this end and with this view, that the stocks, counsels, and interests of many being joined, that trade might by this united force be driven to a greater extent, the losses be more easily sustained and repaired, and the great confusion and other numberless disadvantages arising from an opposition and rivalship of many distinct and separate interests be evaded and shunned. For the farther encouragement and cherishing this then infant trade and company, she likewise endowed it with many privileges, and even with an exclusive right, which while this trade remained thus in its infancy and confined in point of stock, might be deemed a monopoly; but seeing it is now so immensely increased as to demand such a large stock to carry it on, if the word monopoly may be still preserved, it ought not in justice to be applied to the company
in its true sense, seeing every man that pleases may be admitted into the stock: though at the same time, as we shall hereafter show, it may in another sense, still merit the title.
The princes who succeeded that great queen, together with the other branches of the legislature, so low down as William the third, were so sensible of the justness of these wise and well weighed reasons, which induced her to establish this trade on such a footing, that ever since, on the application of that company, they always most readily renewed their charter, and also as there was occasion increased their privileges. In the sense that I have here mentioned, the incorporation of this company may be termed a collecting and assembling of several different little springs and rills into one bed or channel, the bounds and banks of which are its exclusive charter. These several springs then, which if allowed to diffuse and disperse in their natural courses, would have lost themselves almost at their sources, being now collected and confined in one bed, do thus form a mighty river rolling along, and with its torrent sweeping all before it, as scorning the resistance of smaller stops and lets. Therefore if the nation either increases its force or enlarges and widens its banks, she only strengthens thereby the work of her own hands.
This metaphor I think may convey a pretty just idea of the light in which this company and its charter have been looked upon, by the princes and parliaments of this nation, so far down as the reign of William the third. But in that reign, we have reason to imagine that the nature and constitution of the company was changed, for we find that at this time, in order to the obtaining a renewal of their charter, they were obliged to make use of clandestine means, and to bribe very high, as to the shame of many then in power, was discovered by the great activity of the house of commons; and ever since, the renewal of their charter, hath met with great opposition, so as that at last in the year 1698, a charter was granted to a new company, on their undertaking to lend the government a larger sum of money than the old one could pretend to do; yet, through certain means, the old one still retained its charter; though it was afterwards found necessary to the good and even the existence of each, that both should coalesce and unite, and from this union they take the title of
United, &c. It may be expected and even be worth the pains, that we should account for and explain the manner of this alteration which we have mentioned, of the original nature and constitution of this company. Of this we shall give a cursory view, and no more than is absolutely necessary to the present purpose. If it should be found from these hints, that a more full account of these and other such matters will be agreeable to any of my countrymen, I shall be ever ready to communicate any little light that I may have acquired of this interesting subject.
At the first institution of this company it may be supposed, that the members or proprietors were but few, and those merchants; who though they might depute some few of their own body, to attend to the more immediate dispatch of the business of the joint concern, yet as being but few, and also merchants, every proprietor in such character, would no doubt at a general meeting or court, avail himself of his privilege, to inquire into and make himself acquainted with the most private and secret transactions of the trade.
But when this trade became so extensive, and required such a sum of money to carry it on, as obliged the nation to prescribe limits to their stock, then also the proprietors became very numerous, for none being refused, men, women, children, and foreigners of all nations were admitted. It is well known that in every branch of trade there are secrets, which are not proper to be communicated, seeing that such communication would be of particular prejudice to the skillful trader. In this mighty branch there are no doubt secrets, which, as many of the proprietors, might in consequences of their being known by such, and their withdrawing their property from our to the Dutch or other East-India stocks, be by them made use of to the irreparable loss of our company. For this reason it became on such occasion necessary, that the secrets of the company should be withdrawn from the sight of the whole, and be confided only to a few who are their directors. Thus began to arise that mighty difference and alteration, from the original intent and constitution of this company. On the commencement of stock jobbing, the company amongst others, also lent our government, at three different times, to the amount of 4,200,000 £ sterling, and by this means their stock and concerns have mightily increased; and besides the other evil consequences of this jobbing scheme, it has also so thoroughly thrown the affairs of the company into the hands of the directors, that they are now become almost (even properly speaking) themselves the East-India company. This power and charge of trust rests in a body of about 50 or 60 personages of no very extraordinary abilities, who go in and out by rotation, or by a change of interests, for as I before observed 24 of these do for the time being form this direction. This will also account for what must otherwise appear an absurdity, I mean the mighty struggles made, and the large sums of late expended for the grant of a new charter; for supposing the proprietors of the India stock to form the East-India company, what can be more absurd than to think that this company would part with 200,000 £ at a time, for that which to them does not value a rush?
this may also be cleared up by the following observation, in which, however, if I am mistaken, I shall submit. When I (and I imagine my case is the same with that of others) choose to take 500 or 1000 £ in this company's stock, I go to market, I give the current price for it, I have a transfer and thus become a proprietor; but this stock I do not buy for this reason, that it is more beneficial than any other stock, no; I have my 6 per Cent. for my 150 £ or 4 per Cent. for my 100, at least nearly in the same manner as the other funds; and for the matter of security, this stock is so much connected with, and dependent on the public funds, that it is not only liable to all the risks of any of them, but is also subject to its own particular dangers.
My reasons then for making myself a proprietor arise not from the views of superior benefit on my money, but perhaps, because I choose to have a compliment paid me once a year by the candidates for the direction, and possibly I may expect in return some small favor for a young relation, &c. nay even whim may induce me.
At any rate, in regard to my money, I look for my dividend at the stated times, while that's paid me I interfere not with secrets, which I can neither come at, nor do they at all import me as a proprietor, seeing if I am any ways apprehensive, I can carry my concern again to market. If this is, and I am pretty clear it is nearly the case of all proprietors, saving the number of those whom I excepted, is it to be imagined that they would part with a shilling, for the continuation of that from which they reap not one farthing extraordinary benefit?
But taking the company in its other sense, as composed of, of which is the same, implicitly guided by its directors; it may appear to be very well worth the while of these few gentlemen to pay a very large sum for the continuation of their power and influence, seeing that a very small part of the sum comes out of their pockets; and that the fluctuating body of proprietors rest supine, and while they receive their expected dividend
care for none of those things.By reflecting, and considering what hath been said, we shall also be able to discover another secret, which is the despotic power acquired, and the cruel tyranny exercised by this small company or directorial body, over that large unwieldy pithless one, the proprietors, who being thus indifferent, without a head, divided, without concerted measures, counsel or rule, put it in the power of those few to keep them in the most
cimmerian darkness with respect to their own affairs. For if at any time a few of these proprietors should impertinently presume to pry into the abstruse mysteries of their own business, the dictators are ever ready with the dreadful fulmination of throwing up their charge; and the fear of that anarchy which must necessarily be the consequence of such a sudden resignation, will ever serve effectually to charm into silence the majority of a general court, who, provided they receive their dividend, care not who has the payment of it. Thus the proprietors have it but little in their power, either to prevent or rectify any misconduct of their directors.
I have been forced, for the sake of perspicuity, greatly to exceed my first proposed limits, but clearness being so necessary in all subjects, this prolixity will I hope be excused by my reader. And if in this account, there should anything appear disagreeable to the company, let this plead with them, that no sore can be cured without probing and laying it open. Half the business of a physician is to discover the nature of the malady; that being known, the medicine may be prescribed with greater safety, and greater view of success; and if I may be allowed to take upon me the character of a prober, I shall, seeing I am about it, go a little deeper, and let out some more of the pus, formed from the confinement of the power of this East-India company to this small number.
In the first place, this confined company, when upon any occasion, they are brought into distress, and have the need of the assistance or interposition of the nation, do either, but particularly, if it arises from any evident misconduct of their own, or of their favorites employed by them, carefully conceal or diminish it, or else when obliged, in a cringing way apply to the minister, begging his mightiness will be graciously pleased to assist the poor distressed 24 directors; and this he will do or not do as suits his humor or convenience.
Whereas the true
English East-India company, a body of merchants the most respectable, grand and powerful of any in this world, ought never to have any want, ought never to stand in need of any help, but when they can avow it and account for it; and in such case they ought, as a set of men entrusted by the nation with one of her highest concerns, to apply with boldness, I do not mean licentiousness, to the proper powers for their aid.
I allow this company may no doubt have secrets which cannot be properly communicated to foreigners, to fools, or to knaves; but they cannot, at least they ought not, to have any that may not be communicated to persons deputed either by the legislature, or even the body of proprietors, to inspect the state of their affairs; for there are no doubt men to be found in this nation, as tender of the interests of their country, and consequently of that of the company, as the 24 directors.
Another disadvantage arising from the confinement of this great charge to this small number of hands, is this, that the nation is thereby often necessitated to entrust the conduct of her most important affairs in the East-Indies to the management of such as may have no other title or claim besides that of affinity to, or the favor of, a director, and who, had he only his own talents or merit to raise and support him, might in the service of his country never have risen higher than an Excise or Customhouse officer, though his post there shall be such as a high prince or the first peer in this realm might not disdain, either for the grandeur of the charge, or the emoluments of the place to accept; (for 300,000 £ per annum is a royal salary, and to rule kings and nations is not unworthy a prince) yet should any of these, either through misconduct or with design, grievously injure the national interest, or wound her honor, they are accountable only to the 24 directors for their conduct.
I should be sorry to appear an incendiary, but cannot help observing here, what may prevent the like danger in future, that the meanness and lowness of our confined company procuring it so little respect from the nation, their concerns lie entirely at the discretion and mercy of the minister; for although in both the national wars in which the company was engaged, things have through the goodness of God turned out extremely fortunate, yet as wise men never allow themselves to be guided entirely by events, without inquiring into the causes that produced them; an account of the causes of our success on these two and one other occasion, placing the merit where it is due, may prevent our being lulled into remissness, by trusting to aids which we ought not in human prudence absolutely to confide in, without also exerting ourselves.
In that which was the first national war in which our East-India company was engaged, this company had so much neglected their settlements abroad, as never having been before in a warlike state, and the then minister, who extended the war to these countries, had been at so little pains to inform himself of the state of their affairs, and had so much neglected to send out a sufficient force to support them, that M. De La Bourdonnais, arriving there with his squadron, found not the smallest resistance from Madrass, their capital on the coast of Coromandel, which being the most exposed, may be supposed to be the strongest they had in India. The spirit of envy and dissension stirred up betwixt their chiefs, and a strong wind sent by the favor of the Almighty to disperse and sink part of their squadron, causes in which we cannot assume the least merit, were the only obstacles that on this occasion prevented the loss of all the East-India company's settlements in India.
In the ensuing company's war on that coast during the national peace, wherein it was disputed whether the French should be sovereigns of all Indostan, or the English nation retain their humble settlements, it was not owing to the support of the company, hampered with the narrowness of their stock, but to the extraordinary efforts and luckily superior courage and conduct of two English officers, that the French did not then absolutely carry their point. In the last national war likewise the French were greatly beforehand with both the company and nation. When Mr. Lally arrived on that coast with a force in all human probability sufficient (to make use of his own expression) to swallow up the three capital English settlements as the three meals of one day, (and these indeed were but a secondary view) then again not ourselves, but the
Lord of Hosts fought for us; for he sent amongst our enemies the spirit of pride, of discord, and of infatuation, which wrought wonders in our favor; and lo thus again were we saved: justly may we sing therefore
Non nobis. [Google translate: Not us] But shall we rest ourselves always secure on this unmerited aid? shall we ever thus lie a dead weight on the hands of the Lord? if we do he may at last drop us, for we have reason to expect that our adversaries, grown wiser by two unlucky miscarriages, will avoid the rocks on which they before split.
If what hath been said hath no weight, it will be needless to add any more on this subject. Besides this probing gives pain, and that I am averse to. Yet as example has often more weight than precept or counsel, I shall take the liberty to place before our eyes one or two instances of this kind. The first shall be that of the Dutch West-India company, being in itself most similar in its circumstances to our own case: Avert the omen, good Heaven! I mean in all but the catastrophe. The Dutch nation, after having shaken off the yoke of Spain, and asserted their independence and freedom, became extremely rich by reason of their most extensive commerce. This was the most glorious era of that people, or indeed of any trading nation, for theirs did at this time greatly exceed that of all their neighbors. They had towards the end of their war with Spain attacked the Portuguese colonies in Brazil, which they had a right to do, the sovereignty of Portugal being at that time vested in the person of Philip. They soon overran and made themselves masters of three of the four districts, they established themselves there; and that truly mercantile people became quickly sensible of the real value of their acquisition. The nation established a company to carry on and extend that trade, which, under the name of the Dutch West-India company, became in a little time of such consequence, that Prince Maurice did not disdain, nor think it below him, to serve this company in quality of governor of their settlements.
This prince was a person of great penetration and understanding, and being also a prince, his views extended greatly beyond the temporary short-sighted ones of merchants: He began first to secure what he had got, by building forts, and sending over to the mother country for troops; the natives there, who were mostly of Portuguese mixed breed, he treated with indulgence, so far even as to advance them money on the company's account, in order to enable them to plant and improve the country. This increase of expense diminishing the profits, did not answer the expectations of the company, who had been rendered over sanguine by the great and unlooked-for success of their rival the East-India company. They began therefore to find that a prince was not a fit governor for merchants, and after thanking him for his services, civilly acquainted him, that their affairs being now through his means in a flourishing situation, they had no farther occasion for his assistance. They sent out four governors, men according to their own hearts. The first, if I remember right, was a goldsmith, the second a haberdasher, the third a broken merchant, and the fourth might be a superannuated sea-captain.
These four able rulers arriving in their government, immediately entered on business, consulting on such ways and means as should most fully answer the ends for which they had been so distinguishedly appointed by their constituents. They immediately perceived that the expense of maintaining such a large force as the prince had for parade introduced there, was excessive, and altogether unnecessary; they therefore dismissed the greatest part both of the officers and men, who accordingly returned to Europe along with prince Maurice. They next discovered that the late governor had entered into a foolish extravagant scheme of building forts, magazines, &c. These appearing unnecessary, they immediately discontinued what was not finished. Soon after, on inspecting their books, they found that their predecessor had lavished great sums of their honorable masters money on the natives there. These sums therefore they set about collecting and calling in, and in this they proceeded with so much rigor, that they greatly harassed and disgusted the debtors. They likewise contrived methods to oblige all hands to work how and when they pleased in the plantations. Thus these gentlemen, if we may call them such, gave great satisfaction to their masters; for in the first year of their government the company found that by the reduction of expenses, the collecting in the debts, and an extraordinary remittance of goods, their profits were vastly greater than they had been for the three preceding years, taken all together.
During the two following years these money-making governors conducted their affairs with the like success and applause. But then -- alas! -- (Now cannot I help thinking of the old woman and her gold-laying hen) the condemned, and indeed truly contemptible but oppressed natives, began to resent their cruel usage, and retaliate on the Dutch, at first in small parties. The governors, who came out there only to make money for their masters -- and themselves, knew as little of the art of fighting as they did of governing; and this their foible was quickly discovered by their adversaries, who were thereby greatly encouraged; and receiving underhand aid in arms and counsel from the governor of the district yet remaining to the Portuguese, they declared open war against the Dutch, who having but few soldiers, and those badly conducted, were obliged to take refuge in such forts as prince Maurice had finished.
The governors soon acquainted their constituents in Europe with this change in their affairs, who sent them out a scanty reinforcement. At last the matter beginning to grow a little more serious, the Dutch nation took the alarm, and sent out a force, which, though it defeated the Spanish squadron at sea, yet proved greatly insufficient to recover their influence in these countries:
In short, notwithstanding the Dutch, who were at that time excessively powerful at sea, did employ that whole power in no less than three different efforts, in one of which they sent out 35 ships of the line, yet were they in the end obliged to desist; not in justice to the Portuguese, who had before the termination of this dispute reclaimed their sovereignty, but were so much afraid of the
Hogen Mogen Heers, that they durst scarcely avow their supporting the natives, but entirely in consequence of their being fairly baffled. Thus this at that time mighty trading nation, which is as tenacious of its interests as any, was, through the narrow spiritedness of its West-India company, and its governors; without the interposition of any foreign powers, deprived forever of one of the richest and noblest settlements known.
As I have not the account now by me, I may not perhaps be quite exact in every circumstance, but yet will it be found in the main just enough. We have also seen these Portuguese, who first discovered the passage to the East-Indies, and by that prior advantage had rendered themselves very powerful in those countries, reduced to be the most contemptible of any of the European nations trading thither, and this entirely occasioned by extending their influence beyond what they could maintain and support, and also by the disgust of the oppressed natives. We have seen likewise in our own days the French, a most enterprising nation, reduced to her primitive state in those countries, without force, without settlements, altogether owing to their grasping at too much. If examples ought to have any weight, let us learn at the cost of others, that we may not be put ourselves to the expense of dear-bought experience.
But though I have taken upon me to act as a surgeon or a prober, yet will I not, as not having been regularly graduated, presume to practise in the higher character of physician; that is the province of more skillful heads and hands. If I dare not however prescribe or order what ought to be done, yet will I venture to tell such as may know less than myself, and those may be but few, what we ought not to do.
And should what I have said have any weight with such, I would advise them in this case not to desire or expect corrosives, or too harsh remedies, which may only serve to irritate, inflame, and render incurable that sore which may be more easily removed by lenitives. I know that it hath often on less occasions been moved, that the charter of this company ought to be taken away, and the trade laid open; and great advantages have been promised to the nation from such a step: lest any such desire may be now again revived, I shall at the same time I have been disclosing the defects of the company, endeavor to obviate any prejudices that may arise against its existence; and though I neither can nor need say but little that has not been already written by others on this head, yet as it may be more convenient for my readers to find here the arguments of Postlethwaite and others, than to be obliged to have recourse for them to large volumes, I shall take the liberty to subjoin them, in answer to the objections started by the opposite side.
"It is frequently said that our East-India company does not trade and exert themselves to the full extent of their charter; but that if private traders had the unrestrained liberty to drive this trade to the full latitude it would admit of, they would leave no part of India untraded to, especially all that are within the limits and jurisdiction of the British rights. -- In answer to this it is said, that the company's not prosecuting this commerce to the extent as is pretended which it will admit of, cannot proceed from a deficiency of capital or credit; and what reason have we to believe that they should be backward in augmenting their gains to the utmost degree in their power? -- A company; it is said, cannot trade at so small an expense, and therefore cannot afford to trade for so small a profit, as private traders can. This is allowed to be true in the general; but before this matter comes to be considered, the previous question is, whether we should enjoy any share at all in this trade, if not by virtue of the company's forts and settlements?
The extensive correspondence, and high credit of this company in the Indies will certainly capacitate them to traffic in every corner of that part of the world within their right and privilege where they can be gainers, and to do so where they must be loosers, would show little regard to the interest of the proprietors. But the point, if we are rightly informed, lies here: Such branches of trade which the company either cannot gain at all by, or are not so gainful as others they prefer to engage in, are actually carried on by private British merchants, under the company's license and authority; nor is the company scrupulous in granting such licenses to persons of reputation. But as a general and unanswerable reply to all objections, we may advance the universal conduct of all the European nations trading to India, who whenever they adventured to interfere in this trade, have constantly put it under the management of a company; and what is to be dreaded is, that if we should be induced to lay so distant a trade open, while our formidable rivals therein carry the same on by joint-stock companies, with great public encouragement, privileges, and immunities, we should lose all share therein whatsoever. However, when other European nations do so, we may venture to follow their example without hazard, but let us not be the first to make the experiment. Whoever shall consider how things are to be distributed and conducted in the Indies, and what a connection and dependency there is between the commerce of the several countries included within the East-India company's charter, will easily discern that if the whole trade, was in the hands of a disjointed number of separate traders, and not under the management and direction of a body of men conversant and thoroughly experienced therein, and not only capable of giving judicious directions, but duly empowered to see these directions carried into execution, would be impossible that this commerce should continue prosperous, or even that it should at all subsist: Experience has effectually shown the mischiefs that flowed from the subsistence, of at the same time only two East-India companies, the new and old; so great they were, that both the companies soon became sensible that nothing but the union of their interests could possibly afford a proper remedy. Yet we conceive that the laying this trade open, which is what hath been often contended for, would be a scheme big with still greater evils and inconveniences, because it would be at the bottom, a multiplication of companies, all acting upon separate interests, which would certainly be perpetually clashing and interposing with each other, and give the powerful and united interests of other nations opportunities to destroy them all, and forever exclude Britons from the whole Asiatic trade. It may in like manner be conceived, that if the possession of the forts and settlements were in the crown, and the management of the trade only in the hands of the company, it could not but be attended with numberless inconveniences, as, indeed experience showed in the reign of king Charles the second, when Bombay came to the crown, by his marriage with the infanta of Portugal; and therefore both that island and the island of St. Helena, have been granted to the East-India company, for the sake of public conveniency. We may likewise discover from the disorder of the company's affairs in that reign, and in the reign of king James, that it is highly detrimental to this commerce, and to the benefits resulting from thence to the nation, that the company should be immediately under the power of the crown, so as to stand indebted for all encouragement, and to have no other resource in case of grievances than what they can draw from royal power; for this on the one hand renders trade precarious, and on the other interests a great body of people in the support of the prerogative, which might be attended with consequences injurious to the constitution.
But notwithstanding it is for the interest of the public, as well as of the proprietors of the company, that a watchful eye should be had over this company, lest those privileges and immunities should be abused, and the commerce should not be conducted as well for the interests of the nation, as that of the constituents of the corporation. And if any reasonable measures can be suggested for the advancement of these reciprocal interests, they should be laid before the legislature," &c.
So far Mr. Postlethwaite. He argued in a calm; Tempora mutantur. [Google translate: Times are changing] Yet his arguments for carrying on this trade by a company seem quite reasonable; and now seems to be the time he means for keeping a watchful eye, &c. I have as much as I think necessary, and that without selfish view, or design to inflame the minds of men. And if what I have advanced does rouse the proprietors from that lethargy, that indifference to their interesting concerns, it will in some measure answer my purpose; or if it only engages these stock-holders, to look a little more into their concerns, and examine the abilities of those whom they shall be content to choose for their directors. Absurd is the present practice of choosing men, who are to be charged with such a high trust, by the lump in a printed list, which possibly of the 24 names in that list the proprietor knows only two or three, and nominates the others, because they happen to be friends to his friend; and where the whole 24 may be known by the proprietor receiving this list, there may of that number not be more than 4 to whose skill in business he would trust 100 £ of his own private fortune.
Ought not therefore every proprietor to make it his care to inquire into the characters, abilities, and understanding, of all such as are willing to serve the company in capacity of directors, and of them make out a list of is own choosing? Let the proprietors consider that they are supposed to stand in the gap between this country and danger; and that on their choice greatly depends the well or ill conducting of the greatest commercial concerns of this nation.FINIS.