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 | Letters ... to the Chairman. . . 
 | )f the Zast-Inriia Company, upon 
 if n Open Trade to India 
 
 Henry Dundas, 
 Viscount l.Ielville
 
 UNIVERSITY OF CALIFORNIA 
 AT LOS ANGELES
 
 , 
 
 LETTERS 
 
 FROM THB 
 
 EIGHT HON. HENRY DUNDAS 
 
 TO THE 
 
 OP THB 
 
 COURT OF DIRECTORS 
 
 OF THE 
 
 EAST-INDIA COMPANY, 
 
 UPON 
 
 AN OPEN TRADE TO INDIA. 
 
 LONDON: 
 
 PJilN'TED FOR J. RICHARDSON, UNDER THE ROYAL 
 EXCHANGE. 
 
 1813. 
 
 Price Is.
 
 Printed by S. Gosnell, 
 
 Link Queen Street, Hoi bora.
 
 WITH a strong conviction on my mind of the 
 serious consequences which must inevitably result 
 to the City of London from the avowed plan oj 
 
 in 
 
 >- Ministers to allow a direct trade between India 
 
 QC 
 
 < 
 
 and the Out-ports of the United Kingdom, and 
 
 convinced also, from experience, of the very great 
 
 o benefits which have arisen from the mode in which 
 
 CD 
 
 ^ that trade is at present conducted, I feel I am 
 
 i ' 
 
 ,_ only discharging a duty I owe my Fellow Citizens, 
 
 in bringing to their notice the sentiments expressed 
 by a most able Statesman on the question of an 
 >i Open Trade with India, when that subject was 
 $ publicly agitated at a former period. 
 
 A LONDON MERCHANT. 
 
 London, 
 January 7, 1813.

 
 LETTER 
 
 FROM THE 
 
 UIGHT HON. HENRY DUNDAS, 
 
 Somerset Place, Qd April, 1800. 
 SIR, 
 
 THE subject of this letter is the question 
 of private-trade and India-built shipping, on 
 which I am anxious to lay my sentiments before 
 the Court, in order to attract their early atten- 
 tion to a decision upon it j believing that, from 
 the state in which the question is now left, much 
 mischief results to the interests, both of the 
 East-India Company, and of the public at large. 
 I feel the more anxious to come forward on 
 this subject, because it is impossible for me not 
 to observe a shyness on all hands to come to the 
 
 A 2
 
 discussion : and I am not surprized at it ; be- 
 cause, so far as my reading or observation 
 goes, there never was any question where those 
 who differ upon it went into such opposite ex- 
 tremes, as those have done who have taken an 
 active part in the agitation of it. This very 
 circumstance emboldens me to step forward in 
 the manner I am now doing ; because it being 
 my lot to agree in the extreme of none of the 
 opinions which have been held out to the public 
 consideration, I am the more likely to suggest 
 $ome proper medium between those extremes, 
 which may bring together the discordant senti- 
 ments which are entertained upon it. 
 
 In the first place, I set out with disclaiming 
 being a "party to those opinions, which rest 
 upon any general attack of the monopoly of the 
 East-India Company, either as to the govern* 
 ment or commerce of India. My sentiments, 
 in that respect, remain exactly the same as they 
 were when I moved the renewal of the Charter, 
 In 1793 ; and, if any thing, I am still more 
 confirmed in the principles I brought forward at 
 that time. That a direct interference by
 
 Ternment in the affairs of India is necessary for 
 their stability and uniformity, I am more and 
 more convinced ; but that the ostensible form 
 of government, with all its consequent extent 
 and detail of patronage, must remain as it now 
 is, I am persuaded will never be called in ques- 
 tion by any, but those who may be disposed to 
 sacrifice the freedom and security of our Consti- 
 tution, to their own personal aggrandizement 
 and ill-directed ambition ; I remain equally 
 satisfied, as to the propriety of continuing a 
 monopoly of the trade in the hands of the East- 
 India Company. Those who maintain the re- 
 verse, appear to me to be misled by general 
 theories, without attending to the peculiar cir- 
 cumstances of the trade they are treating of. 
 Viewing it, even as a mere commercial question, 
 I believe this proposition to be a sound one ; 
 ajid if the trade were laid open, the supposed 
 advantages thence arising are at best very pro* 
 blematical, and would certainly be very preca- 
 rious and short lived. It is, however, totally 
 to forget the question, to treat it as a mere 
 commercial one. The ,same principles which
 
 6 
 
 prove the necessity of the present form and 
 mode of Indian government, evince the neces-* 
 lity of the monopoly of trade. The Govern- 
 ment and the trade are interwoven together, 
 and we have only to recur to a very recent 
 experience, to learn the immense advantages 
 lyhich have flowed from that connection of 
 Government and trade. By the commercial 
 capital of the Company at home, acting in con- 
 nection with the public revenues under their 
 administration abroad, they have mutually aided 
 and administered to the wants of each other, 
 and the result has been, the fortunate achieve- 
 ment of those brilliant events, upon the success' 
 of which depended the existence of the Govern-^ 
 ment, the territorial wealth, and the trade of 
 India. 
 
 You will observe, Sir, that it is not my inten*. 
 tjon at present, to argue those topics at large j 
 but merely to state the principles I hold upon 
 such topics, as may appear to be connected 
 with the subject I wish to bring more particu- 
 larly under your consideration. 
 
 With the same view, it is, that I find it no*
 
 eessary to say a few words upon the subject of 
 what is called the Shipping Interest of the East* 
 Jndia Company. Upon that subject, there seems 
 to be a greater abuse of terms, and a more pal* 
 jpable confusion of ideas, than upon almost any 
 other part of this complicated question, in s 
 far as any person is loud in declaiming against 
 the abuse of that great interest being confined 
 exclusively to a few hands, who, by such a 
 monopoly, might have it in their power to dic- 
 tate such terms as they pleased to the East-India 
 Company. On the subject of freights, I am as 
 prepared as any man to join in crying down that 
 ^buse, But I am ecjually adverse to the sentiv 
 ments of those who contend, that the great 
 interest of the Company's trade is to be left to 
 the chance of the market at large j and that 
 the extent of the freight is cither wholly, or 
 primarily, to be the exclusive object of the 
 Company's attention. I am decisively of opi- 
 nion, that both on views of public policy and 
 commercial security, the same -description of 
 ships should be continued in the Company's 
 service, built under fche same inspection and
 
 8 
 
 regulations, fitted and found, in every circum- 
 stance, in the same respectable way they have 
 hitherto been ; and though every partiality and 
 lavish extravagance is to be avoided, a freight 
 fully adequate to secure those advantages, ought 
 not to be churlishly withheld. To what extent 
 of shipping of this description the Company 
 ought to go, will be the subject of more minute 
 discussion in a subsequent part of this letter. 
 
 Having, I trust, niade myself distinctly un- 
 derstood on those leading points, I proceed next 
 to state, what I hold to be equally uncontro- 
 vertible, that although the Legislature has, for 
 the wisest purposes, given a monopoly of trade 
 to the East-India Company, it is a monopoly 
 attended with these two material circumstances : 
 
 1st. That the exportable produce of India 
 exceeds what at present the capital of the East- 
 India Company is capable of embracing. 
 
 2d. That the monopoly of the East-India 
 Company does not rest on principles of colonial 
 exclusion : for the trade, to and from India, is 
 open to the subjects of other countries in amity 
 with Great Britain. We must therefore acou-
 
 9 
 
 rately attend to the considerations which natu- 
 rally result from those last-mentioned circum- 
 stances. 
 
 If it be true, that the trade to be carried on 
 by the East-India Company must, of necessity, 
 be limited by the extent of their capital, the 
 natural question is, what is to become of the 
 remainder of it ? Is it to be left exclusively to 
 foreign nations, or is the monopoly of the Com- 
 pany to be so modified in the exercise of it, as 
 to open this surplus market to the capital of 
 British subjects ? This is a mere question of 
 policy, to be decided on principles of expedi- 
 ency and sound discretion, upon a due attention 
 to all the considerations which enter into the 
 discussion of it. And although nothing could 
 be more invidious and impolitic, than to attempt 
 to apply the principles of colonial exclusion to 
 other independent nations, nothing certainly 
 can be more just or natural, tllan that those 
 nations who trade to India, should trade there 
 on their own capitals ; and that the capital of 
 the British subjects, resident in India, should be 
 brought home to this country, in the manner 
 
 B
 
 10 
 
 most beneficial to their own interests and to that 
 of the mother country, where it is desirable all 
 that capital should ultimately settle. This propo- 
 sition, then, clearly points out the true appropria- 
 tion of the surplus produce of India. When I 
 state this, I am, at the same time, free to declare, 
 that I totally disapprove of attempting to ac- 
 complish this by penal restrictive statutes. All 
 such ever have been, and ever will be, nugatory, 
 when resorted to for such a purpose. Trade 
 never can be regulated or directed by any other 
 certain rule than the interest of those concerned 
 in it. But it is so much the interest and natural 
 bent of a British subject to send his fortune to 
 that country which gave him birth, and where 
 he means to close his days, that nothing but the 
 most unnatural and impolitic restraints can sug- 
 gest to him a desire to do otherwise. 
 
 But, obvious as this principle may appear to 
 be, it requires accurate attention, in the appli- 
 cation of it to the subject in question. If I 
 am asked, whether, in stating this principle, I 
 mean that the trade to and from India, in the 
 eomiflfon use of the terms, ought to be free
 
 11 
 
 and open to all His Majesty's subjects in India ? 
 I answer distinctly in the negative. The nature 
 of the Indian manufacture, and the immemo- 
 rial habits of the manufacturers, exclude the 
 practical application of so indefinite a principle 
 to the export trade from India. The manu- 
 facture of the finer and more valuable fabricks 
 of India have always been produced by ad- 
 vances from the Government, or individuals, 
 for whose behoof those fabricks are manu- 
 factured ; and if the dealing with those manu- 
 facturers was to be laid open to the uncontroled 
 competition of every individual, the consequence 
 would be a boundless scene of confusion and 
 fraud, and ultimately, the ruin of the manu- 
 facturers themselves. It is unnecessary for me 
 to detail this part of the subject at any length, 
 because it is so clearly and ably explained in a 
 letter from Lord Cornwallis to the Court of 
 Directors, dated 1st November, 1788, that I 
 have only to refer you and the Court to the care- 
 ful perusal of it. The whole of it is Worthy of 
 your serious attention, but paragraphs 24 to 31 
 inclusive, are those to which I particularly r-
 
 13. 
 
 fer, as bearing OH the present question. It is 
 not the purpose of the present letter to point out 
 what the precise regulations ought to be ; but it 
 is obviotis, that those employed in the agency of 
 such a trade should be controled by such regu- 
 lations, as may be requisite to secure, both to the 
 Company itself and to other individuals, the full 
 benefit of those advances they have made to the 
 manufacturers of Indian fabricks. 
 
 Jt is immediately connected with the observa- 
 tions last offered, to consider, by what agency 
 is the trade of individuals in India to be carried 
 on ? If this question was to be decided on the 
 principles of an open and free trade, the answer 
 to the question would be, that every individual 
 should send out, or employ, any agent he 
 thought best to manage his own business. But 
 from what I have already stated on the 
 former point, you will anticipate my opi- 
 nion on this ; namely, that no agent should 
 be employed in India, or permitted to reside 
 there, except with the licence of the East-India 
 Company, and subject to the control of such 
 regulations as the habits, prejudices, and trade
 
 13 
 
 af the country may render expedient. In 
 addition to every other consideration, arising 
 out of the peculiar nature of the trade and 
 manners of the country, there is one decisive 
 circumstance against the tolerance of every un- 
 licensed adventurer in India. It would rapidly, 
 though insensibly, lead to the settlement and 
 colonization of the worst kind of adventurers 
 taking root in that country, than which there 
 could not be a more fatal blow to the perma- 
 nence of the British power and pre-eminence in 
 India. No principle ought ever to be tolerated 
 or acted upon, that does not proceed on the 
 basis of India being considered as the tempo- 
 rary residence of a great British Establishment, 
 for the good government of the country, upon 
 steady and uniform principles, and of a large 
 British factory, for the beneficial management 
 of its trade, upon rules applicable to the state 
 and manners of the country. 
 
 From these premises the conclusion I draw is, 
 that the surplus produce of India, beyond what 
 the appropriated capital of the East-India Com- 
 pany can bring home, should be considered as
 
 the means of transferring the fortunes of the 
 servants in India to Great-Britain ; and that the 
 commerce should be managed there, either by 
 the parties themselves interested in it, or by 
 their agents, acting under the license, and sub- 
 ject to the controul and regulations of the East- 
 India Company. 
 
 The question which naturally follows is, by 
 what mode of conveyance is that trade to be 
 brought home? I answer, by the India-built 
 shipping. Upon the policy and beneficial ten- 
 dency of this measure', I have only to refer you 
 to the unanimous opinion of all your ablest ser- 
 vants in India, who hav<e, from time to time, 
 and in the most explicit terms, pointed out to 
 you the expediency of this indulgence, both 
 with a view to a just attention to the interests 
 of your servants in India, and with a view to 
 make Britain the great emporium of the Trade 
 of Asia. Indeed, nothing has hindered your 
 servants abroad, sanctioned by the express ad- 
 vice of your Board of Trade, from acting upon 
 these principles at different *times, but the great 
 quantity of unemployed shipping sent out by
 
 15 
 
 the East-India Company. I trust henceforward 
 you will see the wisdom of desisting from such 
 a wasteful system. If you fix the capital you 
 mean to apply to investment, and accurately 
 direct your servants to provide that investment, 
 there can be no occasion for any extra shipping- 
 Your investment and shipping will correspond 
 accurately together, and your commerce be 
 systematically conducted. I mean, in a sepa- 
 rate letter, to treat of what the amount of that 
 investment ought to be, and what are the means 
 by which it is to be provided. At present I 
 mean only to state, that whatever the regular 
 investment is, it ought to be brought home in 
 the regular home-buiit ships, to which I have 
 referred in the beginning of this letter. If any 
 accident shall befall any of those ships in their 
 outward passage, or if any circumstances exist 
 to render it expedient for you to bring home 
 gruff goods, or any other articles of commerce 
 from India, a discretion should be left with your 
 Governments abroad to supply that deficiency 
 from the shipping tjo be found in India. But 
 it ought to be adopted and adhered to as an
 
 16 
 
 invariable rule, that the regular shipping to be 
 sent from this country, should be in exact pror 
 portion to the amount of the investment ex* 
 pected home. 
 
 When I am thus adding the concurrence of 
 my opinion to the weight of authority which 
 the proposition derives from the unanimous 
 sentiments of your most intelligent servants in 
 India, I am only adhering to the principles I 
 detailed when I moved the renewal of your 
 Charter in 1793. It was upon an application 
 of those principles that the provision was made 
 in the Act of Parliament, directing the East- 
 India Company to appropriate 3000 tons an- 
 nually to the private-trade to and from India. 
 Although I proposed that measure, I should be 
 uncandid if I did not fairly acknowledge that 
 Experience has proved to be inadequate to the 
 purposes for which it was intended. If the 
 object had been only to try an experiment how 
 far individuals were not more competent to the 
 export of British produce and manufactures, 
 tiaan the East-India Company, no other objec- 
 tion would lie against the me/isure, except what
 
 17 
 
 may be supposed to arise from the clearness of 
 freight, at which the East-India Company could 
 afford to give shipping of that description. But 
 in so far as the provision went to secure the 
 transfer of the capital of our servants in India 
 to this country, through the medium of trade, 
 it is clearly ascertained, that the measure was a 
 nugatory one. I need not enter into an expla- 
 nation of the reasons, for they are so distinctly 
 and unanswerably stated, both in the corres- 
 pondence of your Board of Trade at Bengal, 
 and in the memorials presented by the mer- 
 chants at Calcutta to your supreme Government 
 in India, that I have only to refer you to the 
 perusal of these documents, in proof of the 
 inutility of that provision in the Act of 1793. 
 
 I am therefore clear, that clause in the Act 
 ought to be repealed, and the Company relieved 
 from the obligation it imposes upon them : and 
 in place thereof, a power given to your Go- 
 vernments abroad to allow the British subjects, 
 resident in India, to bring home their funds to 
 Britain in the shipping of the country. I see 
 in the records of the Company abroad, it is 
 
 e
 
 18 
 
 suggested, that those ships should be contracted 
 for by the Government, and re-freighted to the 
 individuals. I do not exactly perceive what 
 benefit arises from the Government having that 
 kind of interference in the business; but if 
 there is any good reason for it, there is not 
 certainly any material objection against it. But 
 it is material to attend to, and of course regu- 
 lations will be made as to the time of sailing 
 and other circumstances of detail, connected 
 with the safe execution of the measure. 
 
 It may perhaps be objected, that this propd- 
 sition is injurious to the regular shipping of tht 
 East-India Company, for the preservation of 
 which system I have already given so decided 
 an opinion. 
 
 The answer to this objection is two-fold. 
 First, in point of fact, it will not diminish their 
 shipping a single ton ; for the East-India Com^ 
 pany would not, if the measure was not adopt- 
 ed, send out a single ship more. They ought 
 and will send out as much of the regular Bri- 
 tisli-built India shipping as is necessary to bring 
 home the whole of their investment, and they
 
 wili act improvidently if they send out one ton 
 more. The only effect of this measure not 
 being adopted, would be to extend the trade 
 and shipping of other nations, but in no respect 
 to add to the regular shipping of the East-India 
 Company, 
 
 In the next place, those interested in the 
 regular shipping of the East-India Company 
 would do well to consider the benefits they 
 already enjoy, in place of endeavouring to 
 eramp and check the just pretensions of others. 
 They ought to recollect the rapid progress they 
 have made from the time of the Commutation 
 Act; and, above all, they ought to recollect, 
 that it has always been considered as a very 
 problematical question, how far, consistent with 
 the national interests, so much of the ship tim- 
 ber of the country ought to be appropriated to 
 its commercial concerns, in the manner prac- 
 tised by the builders of India shipping. I am 
 one of those, who think there are reasons of 
 public expediency, connected with the very in- 
 terest on which the objection is founded, which 
 ought to prevent any principle of that kind 
 
 c 2
 
 30 
 
 being inconsiderately acted upon. But one of 
 the material grounds, upon which I am disposed 
 to think that the objection I have referred to 
 ought to be well weighed, before it is given way 
 to, arises from the reflection, that we have a 
 national resource in India, which ought to lead 
 to the reverse of any invidious or unjust dis- 
 couragement being given to the ship-building of 
 India. 
 
 In some of the. many speculations I have heard, 
 and the publications I have perused on this sub- 
 ject, it is usual to ask, in a tone of complaint, 
 if it is not unjust and unfair, that the merchants 
 and shipping of this country, other than the 
 shipping of the East-India Company, should be 
 excluded from a participation of that trade, 
 which is allowed to the subjects of foreign na- 
 tions? 
 
 The statement, at first sight, may appear 
 plausible ; but when examined to the bottom, 
 it has no solidity. In truth, it is only another 
 mode of objecting to the monopoly of the East- 
 India Company. If there are reasons of sound 
 policy, why the Legislature has decided that
 
 the Indian trade should be carried on by a mono- 
 poly, it is because, viewing 1 the interests of the 
 Public as one aggregate, it is of opinion, that 
 those interests are best cared for by that mode 
 of conducting the trade. Those, therefore, who 
 state this objection, being themselves part of 
 that whole, are, in common with the rest of 
 his Majesty's subjects, reaping the benefit of 
 that influx of national wealth and capital, which 
 the East-India trade, so conducted, brings into 
 the national stock. They cannot, therefore, 
 more than others, because their occupation hap- 
 pens to be that of merchants or ship owners, 
 complain of being injured by the means which 
 the wisdom of Parliament has devised, for in- 
 troducing that flow of wealth into the kingdom. 
 
 The case is totally different with regard to the 
 subjects of foreign nations. They are not the 
 objects of the care of the British Legislature ; 
 neither are their interests, at all, in the view of 
 its provisions. They reap no benefit, but the 
 reverse, from the growing wealth and prosperity 
 of the British Empire ; and therefore arc, in no 
 rcipect, on u footing of comparison with any of
 
 the subjects of this country, to whom the re. 
 straints of the Company's Charter, for the rea 
 sons already assigned, do with perfect propriety 
 apply. 
 
 Jt is quite a separate question, how far. i$ 
 Vould be right to hold our Indian possessions 
 upon principles of colonial monopoly? and it 
 would be deviating from the strict matter of the 
 objection, to enter into that discussion in this 
 place. It is sufficient, in point of fact, to ob" 
 serve, in answer to the Merchants and Ship, 
 owners, that it is thought expedient for the 
 interests of the Empire, at large, that the East*-. 
 India possessions should not be regulated on the 
 principles of colonial exclusion ; and, therefore, 
 no part of the subjects of Great-Britain can be 
 permitted to set up a separate interest of their 
 own, against that general policy. If the colo- 
 nial principle was to be applied to the Indian 
 territories, it would not advance, by one step, 
 that separate interest set up by the Merchants 
 and Ship-owners, to whom I now refer. 
 
 Another turn is given to this objection, in 
 the mouth of the same objectors ; and it is
 
 23 
 
 asked, why, at least, should not the Merchants 
 and Ship-owners, subjects of his Majesty, resi- 
 dent in Britain, have the same indulgences 
 which are contended for by his Majesty's sub- 
 jects, resident in India? The answer is plain 
 and conclusive, that in contending for this in- 
 dulgence to the British subjects resident in 
 India, I am contending for a material national 
 interest, which is no other than this, that their 
 fortunes, capitals created in India, should be 
 transferred from that country to this, in a man* 
 ner most beneficial for themselves and the king- 
 dom at large, in place of being transferred, 
 through the medium of commerce, by foreigners, 
 and thereby adding to the wealth, capital, and 
 navigation of foreign countries. 
 
 There is not a single circumstance in which 
 this applies to the case of merchants in this coun- 
 try. It might be proved, if necessary, that the 
 only effect of giving such an indulgence to the 
 merchants resident in this country, would be a 
 temptation to withdraw a part of the capital of 
 the country from a more profitable trade, and 
 more beneficial application of it, in order to di-
 
 vert it to another trade, less profitable to them- 
 selves and less beneficial to the public. Without, 
 therefore, one single reason, either of private 
 justice or public policy, it would be introducing 
 a rival capital in India against the remittance 
 trade of the East- India Company, and in com- 
 petition likewise with those individuals, whose 
 capitals, by the proposed indulgence, it is wished 
 to transfer to Great- Britain. 
 . It is argued, that the extension- of this indul- 
 gence of the British merchants would be an addi- 
 tional encouragement to the export' of British 
 manufactures. I need only observe, that the argu- 
 ment proceeds on an erroneous view of the sub* 
 ject. The export trade to India can never be 
 extended, in any degree proportionate to the 
 wealth and population of the Indian Empire ; 
 neither can the returns upon it be very profitable 
 to individuals. Those who attend to the man- 
 ners, the manufactures, the food, the raiment, 
 the moral and religious prejudices of that coun- 
 try, can be at no loss to trace the causes, why. 
 this proposition must be a true one. The im- 
 portance of that immense Empire to this coun-
 
 try, is rather to be estimated by the great annual 
 addition it makes to the wealth and capital of 
 the kingdom, than by any eminent advantages 
 which the manufactures of the country can de- 
 rive from the consumption of the natives of 
 India. I do not mean to say, that the exports 
 from this country to India have not been very 
 considerably increased of late years ; and I 
 make no doubt, that, from recent circumstances, 
 they may be still considerably increased. But 
 the prospect, from the causes I have already 
 referred to, must always be a limited one ; and 
 I am positive, that the shipping and exertions 
 of the East-India Company, joined to the re- 
 turned cargoes of those ships which bring home 
 the private trade of India, is more than ade- 
 quate to any present or future increase of ex- 
 port trade, that this country can look to upon 
 any rational ground of hope. 
 
 In this view, therefore, the British merchants 
 are equally mistaken, in supposing that there is 
 any national interest implicated in their attempt 
 to break in upon the monopoly of the Company, 
 
 D
 
 40 
 
 AS they ftfc irt supposing that any material bene* 
 fit would accrue to themselves individually. 
 
 In sorii6 of the collections of papers I hava 
 read upon the subject of private-trade, I have 
 observed a difference of opinion entertained, to 
 what places in India it has been or ought to be 
 allowed. I am at a loss to discover the grounds 
 of this controversy. If individuals are to be 
 allowed to bring goods from India in India ship* 
 ping, and to carry back goods to India in ths 
 same shipping, I cannot see the ground for re* 
 straining them in coining from, or returning to 
 any part in India. 
 
 In like manner, with regard to agents, pro- 
 vided they are licensed by the Company, and 
 subject themselves to the control of the re- 
 gulations which the Company may see cause to 
 establish for the conduct of agents in India, I 
 see no reasons why those agents may not be 
 permitted to exercise their agency for behoof of 
 their constituents in any of the territories of 
 India. I state this with regard even to agency 
 >xercised for behoof of foreigners trading t*
 
 India. It is clearly beneficial for the interests 
 of India, in every point of view, that foreigners 
 should rather employ British agents residing 
 -under the protection of the Company in India, 
 than that these foreign nations should establish 
 agents of their own in any part of India. In 
 the former case, they are under the control of 
 the Company, and bound to adhere to such rules 
 as the Company may think proper to lay down 
 for the conduct of agency ; but there can exist 
 no such control or restraint over the agents ,0f 
 the other description. 
 
 With regard to the agents to be employed at 
 home to manage the private-trade of individuals 
 from India, and to take care of their interest in 
 the cargoes of the returning sMps, I do <not see 
 the use of any interference by the Company. 
 The great interest to be attended to on the part 
 of the Company is, that no goods come from 
 India that are not deposited in the Company's 
 warehouses, and that the goods so imported are 
 exposed at the Company's sales, agreeable to 
 the rules prescribed for that purpose. 
 
 P 2
 
 28 
 
 This letter has extended to a length far be- 
 yond what I intended or expected ; hut I was 
 desirous to have my opinion, on all the points 
 connected with the subject, distinctly under- 
 stood : and I shall less regret the trouble I have 
 given you in the perusal of so long a letter, if 
 I shall be successful in calling your attention to 
 a speedy and final decision of the question, 
 which has been too long in discussion, from the 
 very discordant opinions and opposite extremes 
 which have appeared in the agitation of it. 
 
 I have the honor to be, Sir, 
 
 Your most obedient humble servant, 
 HENRY DUNDAS, 
 
 The CHAIEMAN of the East-India 
 Company.
 
 LETTER 
 
 FROM THE 
 
 RIGHT HON. HENRY DUNDAS 
 
 TO THS 
 
 CHAIRMAN. 
 
 SIR, Wimbledon, Qlst March, 1801. 
 
 I have attentively perused and considered 
 the resolutions which the Court of Directors 
 unanimously came to on the 4th of February 
 last, respecting the correspondence I have had 
 with them, on the subject of the Private Trade 
 between India and Europe ; and it will not be 
 necessary to trouble you with many additional 
 observations on that subject. The resolutions 
 are distinctly and clearly stated, and the propo- 
 sition in the last of them, expressing a desire 
 for a free and full discussion of this important
 
 30 
 
 Subject, is perfectly fair and candid, and the 
 Court of Directors may rest assured, that upon 
 this, and every other subject connected with 
 their interests, I shall be ready and happy, in 
 every situation, public or private, to give every 
 aid to their deliberations which they may desire 
 to obtain from me. 
 
 Upon the first, second, third, fourth, ninth, 
 tenth, eleventh, and twelfth resolutions, I have 
 only to observe, that ray opinions entirely accord 
 with the general principles detailed therein. 
 
 With regard to the fifth, sixth, seventh, and 
 igfoth> I only pause in giving any opinion, 
 from not having before me the particular docu- 
 tftents and materials, establishing the facts upon 
 "which those resolutions are founded. 
 
 The thirteenth resolution contains the prin- 
 ciples and details of the measure, upon which 
 the Court of Directors are disposed to act ^ and 
 if the basis upon which the resolution proceeds 
 Is admitted to be the best which is applicable td 
 the subject, the details seem aptly devised for 
 the due execution df those principles. But it 
 is upon the principle and basis of the meastaa*
 
 81 
 
 which I ball have the mortification to find my* 
 t elf in a difference of opinion from those, whose 
 integrity and talents I am equally bound to 
 acknowledge ; and this radical difference is the 
 more to be regretted, because the great object 
 of solicitude which both parties entertain, i* 
 precisely the same. We are both strenuously 
 maintaining, that the preservation of the mono* 
 poly of the East-India Company is essentially 
 requisite for the security of every important 
 interest connected with our Indian Empire \ 
 and so deeply am I impressed with the truth of 
 that proposition, I am prepared explicitly to 
 declare, that although the first formation of afl 
 East-India Company proceeded upon purely 
 commercial considerations, the magnitude and 
 importance to which the East-India Company 
 has progressively advanced, is now so interwove 
 with the political interests of the Empire, as 10 
 create upon my mind a firm conviction, that Jfch 
 maintenance of the monopoly of the East-India 
 Company is even more important to the political 
 interests of the State, than it is to the commer- 
 cial intere&ts of 'the -Company.
 
 With this conviction so strongly impressed 
 upon my mind, you will give me, credit, when 
 I assure you, that I have reviewed my own 
 opinions with the most jealous attention, and 
 that I have weighed, with the most anxious 
 care, the arguments of those who suppose, that 
 the system which I have recommended is likely 
 to produce any inconvenience or danger to the 
 lights, privileges, and exclusive interests of the 
 East- India Company; but it is my misfortune 
 to view the subject in an opposite light. If any 
 thing can endanger that monopoly, it is an 
 unnecessary adherence to points not essential 
 for its existence ; and, on the other hand, if it 
 is seen and felt by sober, thinking, and wise 
 men, that every facility is given spontaneously 
 by the Company, which can be given con- 
 sistently with their commercial interests, and 
 the political welfare of the State, that conside- 
 ration will present an impregnable rampart 
 against any attack, which at any time, either the 
 secret or the avowed enemies of the Company 
 may be disposed to make, against the system of 
 Indian Government now established, in con-
 
 S3 
 
 nection with the exclusive Charter of the East- 
 India Company. 
 
 ; It was my intention to have entered more at 
 large into a detailed consideration of this view of 
 the subject ; but since I began to write, I have 
 received, and carefully perused, the letter of 
 the 30th September last, recently transmitted 
 from the Government General of India : and 
 as that letter has, with clearness and perspi- 
 cuity, ably detailed, and in my opinion, de- 
 monstrated the grounds of those opinions, which 
 
 I have from time to time taken the liberty of 
 laying before the Court of Directors, upon the 
 subject of Indian trade, I should consider it as 
 an unnecessary waste of time, if I was to 
 trouble you with a repetition of the topics 
 therein stated. 
 
 It is scarcely necessary for me to observe, 
 that in all the discussions I have had on this 
 subject with the Court of Directors, I have not 
 been entitled to exercise any authority in the 
 determination of the subject. It is a subject 
 over which the Commissioners for the Affairs of 
 India have no control ; and whatever I have 
 

 
 stated, or now state, or may hereafter state, 
 must be received from me in .my individual 
 capacity ; and therefore if either my reasoning 
 and judgment, or the reasoning of your Go- 
 vernment abroad, has not the effect of varying 
 the opinion of the Court of Directors, I trust 
 you will not delay acting upon the principles 
 detailed in the resolutions you have done me 
 the honour to communicate to rne ; for the 
 worst result that can arise from the discusssion 
 is, any further delay in coming to a decision 
 upon it. 
 
 J have the honour to be, Sir, 
 
 Your most obedient humble servant, 
 c HENRY DUNDAS, 
 
 The CHAIRMAN of the East-India 
 Company,
 
 MINUTES of Ike COURT OF DIRECTORS, held on 
 I'/edrirsday, the 4-tk February 1801, containing the 
 Resolutions of the Special Committee, adopted by the 
 Court : referred to in the preceding Letter. 
 
 THE Court proceeding to consider further the 
 report from the Special Committee appointed lo takg 
 into consideration the Letters from the Right Honorable 
 Henry Dundas, of the 2d April arid 28th June 1800, 
 and the resolutions founded thereon, which were sub- 
 mitted to the Court on the 27th ultimo ; 
 
 The report was read, and oa the question unani- 
 mously approved. 
 
 The said resolutions were then read ; and the Court 
 approving thereof, 
 
 It was, on the question, 
 
 First. Resolved Unanimously, That in the opinioti 
 of this Court, the system by which the British pos- 
 sessions in the East are now held and governed, is thft 
 system best adapted to secure to the Nation the bene- 
 fits, political and commercial) which are derivable 
 from those possessions ; and that the establishment of 
 an open trade between them and Great Britain, would 
 not only be subversive of the rights and privileges of 
 the East-India Company, but without ensuring to this 
 country commercial advantages, equal to those it now 
 t njoys from ihem, pave the way for European coloni-
 
 36 
 
 zation, and ultimately hazard the loss of those invalu- 
 able acquisitions. 
 
 Second. That it is therefore equally the interest of 
 the Nation, and the duty of the Company, to guard 
 against all principles and measures, which by an inde- 
 finite enlargement of the present channel of communi- 
 cation, in their nature tend to the introduction, imme- 
 diate or gradual, of such an open intercourse, and its 
 probable consequent colonization. 
 
 Tltifd. That the East-India Company, far from en- 
 tertaining the erroneous policy of limiting the industry 
 and trade of their provinces to the demands of their 
 own commerce, have given such encouragement to 
 both, as they never received under the native govern- 
 ment ; so that the ships of all Nations in amity with 
 this country, have free admission there, and the mari- 
 time exports from India, exclusive of those for the 
 Company, are now greater than they were at any 
 fonner period. 
 
 Fourth. That if it were practicable it would not be 
 expedient, to prevent the other European Nations, 
 jvho, by privilege or concession, now trade with 
 British India, from enjoying such a share of that com- 
 merce, as may serve to supply their own consumption 
 jof Indian commodities, and at the same time to bring 
 bullion into our Eastern territories. 
 
 Fifth. That the regulations established by the le- 
 gislature in 1193, with the professed view of extending 
 the exports of this country to India, and bringing di- 
 rectly to it the trade clandestinely carried on by British 
 capital from India to foreign ports in Europe and 
 America, have not been misapplied, or evaded by the 
 Company ; but that the Company have, as far as con- 
 sisted
 
 sisted with the necessary course of their own affairs,- 
 political and commercial, given effect to those regula- 
 tions, though at a considerable expense to themselves j 
 and that all allegations of the growth of the trade of 
 
 o o 
 
 foreigners with India, and the extension of the clan- 
 destine trade from India, by means of any such 
 misapplication on the part of the Company, are un- 
 founded. 
 
 Sixth. That according to the most authentic infor- 
 mation which has appeared on the subject of clandes- 
 tine trade, particularly the public register of exports 
 and imports kept in Bengal, that trade has not, of late 
 years, increased, but rather diminished ; and that the 
 amount of the clandestine trade of Bengal, the center 
 of our Eastern power and commerce, whether the said 
 trade has been fed by that part of the capital of British 
 Residents which was not sent directly to this country, or 
 by any other source, cannot, on an average of four 
 years, ending with 1798-9, reasonably be estimated to 
 have exceeded twenty-five lacs of rupees per annum. 
 
 Seventh. That from this important fact, as well as 
 from a variety of other evidence, existing in the recent 
 proceedings of the Company's governments abroad, it 
 may safely be concluded, that any increase which has 
 taken place in the course of the war, in the trade of 
 Foreigners with our settlements, is the increase of a 
 trade carried on, bona fide, for their own account, and, 
 in a great degree, with specie which they import into 
 India, and pay for the goods they export, and that 
 tbis is a trade which, in sound policy, ought to be 
 permitted. 
 
 Eighth. That the trade carried on with Europe 
 from the Indian settlements of our enriemies, the 
 
 French,
 
 38 
 
 French, Dutch and Spaniards, which is said to have 
 greatly increased through the late mismanagement of 
 the Company, flourished, long before the present times, 
 in a greater degree than it does now, and could no 1 
 have been depressed by any measures within the Com- 
 pany's power ; nor would it he a wise policy, under 
 the notion of bringing that trade to our ports, to nou- 
 rish, as in fact we thus should, the source whence it 
 proceeds. 
 
 Ninth. That as it is the wish of the Company to 
 give free scope to the native powers of their Indian sub- 
 jects in agriculture and manufactures, so it is also their 
 Hvish to exercise the rights aud privileges they possess in 
 the government and commerce of India, not in the nar- 
 row spirit of rigid monopoly, hut liberally to the be* 
 nefit of the Nation at large. They thus, before the 
 last renewal of their charter, occasionally permitted 
 the importation of private goods on their ships, and 
 thcouraged the culture and importation of several va- 
 luable articles, on private account, particularly sugar 
 'and indigo, the latter of which has become one of the 
 grand staples of the Indian trade, as both together 
 constitute the chief causes of the increase in the sale 
 amount of privileged goods for some late years. And 
 the Company are still desirous to secure to the Nation: 
 all the trade which the capital of British Residents in 
 India yet carries on from that country to Foreign Eu- 
 rope and America. 
 
 Tenth. That the only certain considerable capital, 
 vhich at present exists in British India, for an export 
 trade from that country to Europe, is formed by such 
 part of the savings of British Residents in India, as is 
 not remitted to England by bills of exchange, of one 
 
 description
 
 39 
 
 description or another, on the Company, who now 
 provide so amply in this way for the purpose of trans- 
 ferring the fortunes of individuals ; and that the amount 
 of such portion of the savings of British Residents, as 
 is not sent home by bills on the Company, can never, 
 in the nature of things, exceed a certain moderate 
 limit, which will probably be estimated largely if ta- 
 ken at half a million sterling per annum. Should, 
 indeed, the natives of British India deiro to invest any 
 money, bond fule, on thei*- o\m account, in exports 
 from India to Britain (to which it does not appear that 
 they shew much disposition at present) this may be 
 admitted under proper regulations, as an addition to 
 the capital of Indian export to Europe ; and these twa 
 sources with any circulating property possessed by 
 British traders and manufacturers in India, not in the 
 service of the Company, which circulating property, 
 rn the whole, after allowing for the part of it that 
 ought to be employed in the coasting trade of India, can 
 hardly be imagined to amount to any considerable sum, 
 supply the whole aggregate of the capital British India, 
 applicable to an export trade in articles, either new or 
 eld, from that country to Europe. 
 
 Eleventh. That if to this aggregate capital, which 
 may be termed the present maximum of the native 
 stock of Br.'ish India for a trade to Europe, it became 
 a practice to add MP tal belonging to private Residents 
 in Great Br tain, and transplanted to India for the pur- 
 pos ; of forcing the productions of that country beyond 
 the ability of its own means, this would be the intro- 
 duction of one of the first principles ot the colonial, 
 or West-Indian system ; and if it were sanctioned, di- 
 rectly or imn.hedly,, by any public regulation, it would 
 
 tend
 
 40 
 
 tend greatly to extend the relations and intercourse! 
 between those countries and this, as well as to super- 
 sede, covertly, if not openly, the prohibition to Euro- 
 peans not to occupy lands there, which prohibition is 
 already, in a variety of instances, dispensed with ; and 
 thus, without any certainty of ultimate commercial 
 benefit to the British Empire at large, a change would 
 be commenced in the present system of Indian policy, 
 which is allowed to be the best for the maintenance of 
 those distant possessions. 
 
 Twelfth. That as the produce of every country must, 
 in the course of things, bear a certain proportion or 
 relation to the demand made for it, so there appears no 
 reason to doubt, that the productions of British India, 
 fit for the European market, whether raised by its own 
 native stock of capital, as above described, or occa- 
 sionally quickened by importations of bullion from fo- 
 reign Europe and America, have usually had a current 
 vent into one or other of the channels of trade now 
 open \ith that country ; that hence the alleged diffi- 
 culties of conveying goods by the Company's ships 
 have not prevented the disposal of all the produce 
 which the capital of the country raised, and therefore 
 the plea so often urged by persons interested in thfc 
 private trade, that the Company should permit the 
 surplus produce of the country to be exported, proceeds 
 upon loose, erroneous implications, because when used 
 in these general terms, it seems to convey what is not 
 the fact, either that the Company wish to prevent the 
 exportation of -what they do not t'hemselves require, 
 or that the produce of the country remains on hand for 
 want of sale ; and when applied, more particularly, 
 to infer that th surplus produce should be brought 
 
 immediate]/
 
 41 
 
 Immediately to Britain, it does not discriminate the 
 'bond fide foreign trade to India which ought to be 
 permitted. 
 
 Thirteenth. That as from an early period of the 
 Company's territorial administration, the acquisitions 
 of British subjects in India have, in a greater or less 
 degree, unhappily supported the trade of foreign 
 Europe from the East, and notwithstanding the means 
 which the Company have used, by opening channels 
 for the remittance of private fortunes, both in bills 
 and in goods, directly to this country, that medium of 
 conveyance through foreigners, appears to be, in some 
 measure, still employed; this Court, following the 
 principles before laid down, agree in opinion with the 
 Right Hon. Henry Dundas, as to the expediency of 
 affording to British Residents, who may chuse to con- 
 vey their property to Europe in goods, whatever 
 means, in addition to those already subsisting, may be 
 fairly sufficient to induce them to consign those goods 
 immediately to the mother country. And though the 
 Court consider the fortunes of British individuals not 
 remitted by bills on the Company (in which a very 
 large sum is sent home annually) together with such 
 consignments as European manufacturers and the natives 
 of India may furnish from their own stock, to con- 
 stitute a total capital of British India, at present ap- 
 plicable to a trade with Europe (that is, of capital 
 originating in India, contradistinguished from capital 
 transferred thither from Europe) yet being of opinion, 
 that to remove all colour for complaint on this score, 
 the Company may afford ample means for conveying 
 in goods even the total remittable property of British 
 Residents, they offer the following propositions for 
 
 f bringing
 
 bringing accordingly the whole trade formed by that 
 aggregate capital, as well as the consignments of 
 European manufactures, directly to the port of 
 London. 
 
 1. That in addition to the quantity of three thou- 
 sand tons of shipping now annually allotted to 
 the exports of individuals from India, three, 
 four, or five thousand tons more, or as much 
 as may be wanted, shall be assigned. 
 
 2. That the shipping to be thus annually employed 
 shall be wholly applied to the use of private 
 traders, and shall neither be destined nor de- 
 tained for political or warlike services, in India, 
 but sail from thence directly for the port of 
 London, at fixed periods, within the fair 
 weather season. 
 
 3. That the rate, of freight from India on those 
 ships shall, during war, be as low as that at 
 which the Indian ships, arrived here in the 
 present season, are chartered to the Company ; 
 and in time of peace, the rate of freight shall 
 be proportionably reduced. 
 
 4. That all commodities . of the produce of the 
 Continent, or of the British territories in India, 
 shall be permitted to be laden on those ships ; 
 excepting only piece goods, raw-silk, and salt- 
 petre, which shall not be laden, unless by spe- 
 cial license from the Company, or their Go- 
 vernments abroad. 
 
 5. That the goods to be exported on private ac- 
 count, be, as now, received into the Company's 
 warehouses in India ; and that the same care be 
 taken in assorting them into cargoes, in due 
 
 proportions
 
 43 
 
 proportions of light and heavy goods, according 
 to the deliveries into the warehouses, as is ob- 
 served in forming the Company's own cargoes. 
 
 6. That these goods shall be brought to the Com- 
 pany's warehouses in London, and thence to 
 their sales, in the regular order, subject to the 
 charge of 3 per cent., now allowed to the 
 Company, for lading, warehousing, and selling 
 private goods. 
 
 7. That the ships to be employed in this service 
 shall be built for the purpose by the Company, 
 and shall be of the description best calculated 
 for the proposed trade. In the opinion of this 
 Court, they may be of the burthen of five hun- 
 dred tons builder's measurement, or thereabout, 
 and equipped on what is called the dismantled 
 plan ; but be manned with Europeans, and 
 armed so as to make them equal, in point of 
 safety and defence, to the best of the Indian 
 ships which have come to this country. The 
 size and equipment, however, of these ships, 
 may be more minutely considered hereafter ; 
 and until they are built, other stout and proper 
 ships, or the regular ships of the Company, 
 as far as they shall be wanted, shall be em- 
 ployed in this service on the terms before-men- 
 tioned. 
 
 $. That when the private goods provided for ex- 
 portation from India shall not serve to fill all 
 the ships sent out for them the Company shall 
 put gruff goods into those ships on their own 
 account. 
 
 f 2 9. That
 
 44 
 
 9. That if, at any time, the tonnage provided by 
 the Company for private exports, should not 
 he sufficient for all the goods prepared for ex- 
 portation, it shall be allowable for the Govern- 
 ments abroad, on the part of the Company, to 
 freight Indian ships, for the conveyance of 
 such goods as cannot be otherwise accommo- 
 dated ; care being taken, that this concession 
 be not strained beyond its just object, the ready 
 nd convenient transportation of private goods, 
 furnished by the capitals of British Residents, 
 or sent as the returns of British manufactures. 
 
 10. That no person shall be admitted to embark in 
 this trade, as principal or agent, who is not 
 licensed by the Company to reside in India. 
 
 Fourteenth. That although this Court is well con- 
 vinced of the public views with which the Right Honor- 
 able Henry Dundas- has countenanced the idea of 
 bringing the produce of India, exported thence on 
 account of British Residents, to this country, on 
 private Indian ships, yet the proposals which have 
 been brought forward by certain descriptions of men, 
 both in ludia and in England, for the admission of 
 their ships into the trade and navigation between- India 
 and Europe; proposals which extend to the estab- 
 lishment of a regular systematic privilege in favour 
 of such ships, appear to this Court, when maturely 
 weighed, and followed into all their operations, to in- 
 volve principles and effects dangerous to the interests 
 both of the Company and of the Nation. In the 
 opinion of this Court, the adoption of those proposals 
 would immediately and essentially affect both the 
 system of policy which the legislature has established, 
 
 for
 
 45 
 
 for maintaining the connection and communication 
 between this country and British India and the char- 
 tered privileges of the East-India Company ; and the 
 introduction of any practice of this nature, would tend 
 to widen, gradually and indefinitely, the channel of 
 intercourse between India and Britain ; to multiply 
 the relations between individuals in the two countries ; 
 to pour Europeans of the lower 'sort into India, and 
 Indian sailors into this country ; to lessen, by both 
 these means, the respect for the European character, 
 which has hitherto contributed to maintain our asoen. 
 dancy in the East ; to disturb and shake our Govern- 
 ment there; and, in a word, to lead progressively, 
 but surely, to colonization. 
 
 With respect to the East-India Company, the intro- 
 duction of this practice would set up a certain class 
 of persons with peculiar privileges, who would, in 
 effect, constitute another Company, having a common 
 interest, and that interest very likely to be understood 
 as opposed to the interest of the old Company, and 
 hence to generate disputes and hostilities. 
 
 With respect to British subjects in general, new 
 rights would thus be established in favour of a few, to 
 which all might think themselves entitled, which many 
 would endeavour openly or clandestinely to share 
 (invited by the expected profits of freight as well a* 
 of trade), and in the end would unavoidably succeed 
 in sharing ; all which this Court fear, would tend, 
 more and more, to throw the communication between 
 the two countries quite open, and to remove that great 
 and effectual medium, the .East-India Company, by 
 whom the connection has hitherto been preserved, so 
 much to the benefit of both. And in a commercial 
 
 view,
 
 46 
 
 ir, the introduction of a privilege of this kind i 
 unnecessary, since the true interest of this country does 
 not require, that it should transfer capital to India to 
 raise a trade there, since it is sufficiently evident, that 
 there is in India itself no great capital, which wants to 
 exert itself in the European trade : and since, for the 
 conveyance to this country of the property of British 
 Residents invested in merchandize, the Company are 
 willing to make, and this Court now propose ample pro- 
 vision. The object of acquiring profit by the freight 
 of ships, proposed to be thus introduced, instead of 
 being an argument for their admission, is a strong 
 argument against it ; because that object would excite 
 the employment of private ships to and from India, 
 independent of any previous occasion for them, for the 
 transportation of goods, and thus force a trade, in which, 
 sooner or later, merchants in Europe would become 
 parties, and such various competition be introduced, as 
 would necessarily tend to antiquate the present system 
 of regulated monopoly, without any assurance of equal 
 advantage and safety to the political, financial, and com- 
 mercial interests of this country. And for all these 
 reasons this Court cannot but earnestly deprecate the 
 systematic admission of any such privilege, as is now 
 required by the above descriptions of persons. 
 
 Fifteenth. That this Court, persuaded the view given 
 in these resolutions of the important subject referred to 
 their consideration, will be justified by the documents 
 that have been before them, some of which, material 
 in . themselves, and others only lately arrived from 
 India, they suppose have not yet been perused by the 
 Right Honorable Mr. Dundas ; and persuaded, also, 
 that it is the principle of that Right Honorable Gentle- 
 
 man ,
 
 47 
 
 man, fairly to maintain the rights and privileges of the 
 East India Company, as therein consulting the true 
 interest of the Nation, beg to propose a full discussion 
 of this important subject with Mr. Dundas, in the de 
 Jiberate manner observed at the late renewal of the 
 Charter, and do accordingly lay before him the judg- 
 ment of this Court, with all the reasons and authorities 
 on which it is founded. 
 
 FINIS. 
 
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