The Industrial Revolution

Bibliographic data

Monograph

Identifikator:: 1027928145

URN:: urn:nbn:de:zbw-retromon-159926

Document type:: Monograph

Author:: Cunningham, William http://d-nb.info/gnd/128907487

Title:: The Industrial Revolution

Place of publication:: Cambridge

Publisher:: The University Press

Year of publication:: 1922

Scope:: xxii S., S. 404-886

Digitisation:: 2021

Collection:: Economics Books

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THE NEW ATTACK ON THE EAST INDIAN TRADE 465 weavers at home, but the Norwich clothiers also. Tt was A.D. 1689 argued that the employment of 250,000 manufacturers would ire. be injuriously affected by allowing this trade to continue, and woolten that this must react on the price of wool and the prosperity ““® of the landed interest? The case of the Company was powerfully stated by Davenant; he showed that “the Im- portation of East India and Persia Wrought Silks, Stain’d Callicoes, etc., though it may somewhat interfere with the Manufactures of Norwich, Bristol and other particular Places; yet, that such Importation adds to the Kingdoms main Stock and Wealth, and is not prejudicial to the General Woollen Manufacture of England®” But he did not succeed in convincing the general public that the trade was not hurtful to the employment of our own people. The reply was put thus: “Suppose a merchant send £10,000 to India and bring over for it as much wrought Silks and painted Calicoes as yield him here £70,000, if they be all and sitk. worn here in the room of our own Silk and Woollen manu- factures, the Nation loses and is the poorer £10,000, notwith- standing the Merchant has made a very profitable Adventure, and so proportionably the more and oftner he sends, the faster he grows rich, and the more the Nation is impoverished.” The attempt to discuss the question, without reference to the export of Indian silks to other countries in Europe, was unfair to the Company; but the arguments are of interest as they proved convincing, and the objectors were successful in carrying their point, for they obtained an Act of Parliament in 1700 to restrict the trade, so far as the home market was concerned®. It was alleged. after a brief experience. that the 1 The Great Necessity and Advantage of Preserving our own Manufacturies. by N. C., a weaver of London [Brit. Mus. 1029. ¢. 21 (7), (1697), pp. 7, 13]. 2? Reasons Humbly Offered for the Passing a Bill for the Hindertng of the Home Consumption of East India Silks, by T. S., a weaver of London (1697), p. 8 (Brit. Mus. 1029. c. 21 (8)]. 8 An Essay on the East India Trade (1696), p. 33. + N. C., Great Necessity and Advantage of Preserving our own Manufacturies, 6. $11 W. IIL. ec. 10, dn Act for the more effectuall imploying the Poor by incourageing the Manufactures of this Kingdom: * Whereas it is most evident That the Continuauce of the Trade to the East Indies in the same Manner and Proportions as it hath been for Two Yeares last past, must inevitably be to the great Detriment of this Kingdom by exhausting the Treasure thereof and melting downe the Coine, and takeing away the Labour of the People whereby very many

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