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

Usage license:: Get license information via the feedback formular.

1468 PARLIAMENTARY COLBERTISM century arose from the conduct of the servants. They often acquired large fortunes’; and their successes stimu- lated the imagination of the proprietors, who recklessly in- sisted on securing large dividends, and embarrassed the Company by dividing sums which had not been earned, and which, as the Directors knew. exceeded what the Com- pany was able to pay. Not only were there difficulties in regard to the personal conduct of officials, but the management of the Company's own affairs gave rise to differences of opinion between the Directorate and the Company’s agents in India. There was one point in regard to which they were in constant conflict. Tt was necessary for the Presidential governments to have considerable treasure in bullion to meet emergencies, and they were therefore inclined to limit the amount of their ‘investment’ in goods for transmission to England. The profit on the trading, and the dividends, depended on the goods sent to England; it was therefore to the interest of the Directors and shareholders that the investment should be large. Here was one cause of trouble; another arose when, as occasionally happened, the Council of a Presidency tried to replenish their local treasury by opening it to and ‘re- receive ¢ remittances’; they would encourage the Company's mittances 5 . ” servants to pay cash into the treasury; money might then be remitted by means of bills to England and the value paid to the representatives of the servants there. But there was danger, at all events, that the Council would issue more bills than the Court of Directors at home were able to meet?, and this gave much occasion for dispute. and the These difficulties of management, from the practical in- business Jependence of the servants and from the difficulty of main- intricate taining two treasuries so as to meet the necessary payments, were all the more serious, since the trading business itself was exceedingly intricate. Fine muslins and silks were among the largest imports. In the process of buying goods. the A.D. 1689 — 1776. The Directors and their agents often differed as to the ‘tnvest- ment 1 Clive is reported to have said that the temptations held out to adventurers in that part of the globe were such as flesh and blood conld not withstand. Parl. Hist. xx1. 446. 1 Mill. op. cit. 111. 312.

Access restriction

Copyright

fullscreen: The Industrial Revolution

Monograph

Table of contents

Download

Monograph

This page

Image fragment

Citation links

Citation recommendation