In 1689 The East India Company Published A State Of Their Trade, From Which
It Appeared That In The Last
Seven years they had built sixteen ships from
900 to 1300 tons each, - that they had coming from India eleven
Ships and
four permission ships, the value of their cargoes being above 360,000_l_.:
that they had on their outward voyage to Coast and Bay, seven ships and six
permission ships, their cargoes valued at 570,000_l_.: that they had seven
ships for China and the South Seas, whose cargoes amounted to 100,000_l_.
That they had goods in India unsold, to the amount of 700,000_l_. About
this period, Sir John Child, being what would now be called governor
general of India, and his brother, Sir Jonah, leading member of the Court
of Committees, the policy was introduced through their means, on which the
sovereign power, as well as the immense empire of the East India Company
was founded; this policy consisted of the enlargement of the authority of
the Company over British subjects in India, and in attaining political
strength and dominion, by retaliating by force of arms, on those Indian
princes who oppressed their settlements.
In the year 1698, in consequence of complaints against the East India
Company, and their inability to make any dividend, they thought it
necessary to give in a statement of their property in India. In this they
asserted that they had acquired, solely at their own expence, revenues at
Fort St. George, Fort St. David, and Bombay, as well as in Persia, and
elsewhere, to the amount of 44,000_l_. per annum, arising from customs
and licenses, besides a large extent of land in these places; they had also
erected forts and settlements in Sumatra, and on the coast of Malabar,
which were absolutely necessary to carry on the pepper trade; they had a
strongfort in Bengal, and many factories, settlements, &c. in other places.
The result of the complaints against the Company was, that a new company
was established this year; the two companies, however, united in the
beginning of the eighteenth century.
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