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In the year 1640 permission had been obtained from the native authorities to build the first of the Company’s forts in India. This became known as Fort St George (Madras), and in the year 1658 the Madras settlement was raised to a presidency11. In 1645 the Company had begun to establish factories in Bengal, so the ports for the East Indiamen were now becoming more numerous, and the area from which the cargoes13 could be obtained was being widely extended. The Portuguese, as we have seen, were now out of the running as regards the East. And as for the repeated collisions which the English had with the Dutch, the three Anglo-Dutch wars which had been long foreseen, as they were destined14 long to last, had given quite a new complexion15 to affairs in India, leaving the English East India Company in a position stronger than ever. One of the stipulations had been that the Dutch should indemnify the English merchants and factors in India with regard to the massacre16 at Amboyna, and the guilty parties therein concerned were to be punished. In 1664 the French East India Company had been formed, and ten years later the foundation of their settlement at Pondicherry was laid.
In the year 1681 the Company had developed their fleet to such an extent that they now owned about thirty-five ships, ranging in size from 775 to 100 tons. In customs alone the Company were paying ￡60,000 a year, and they were carrying out to India ￡60,000 or ￡70,000 worth of lead, tin, cloth and stuffs every year, bringing back raw silk, pepper and other goods of the East. By the year 1683 so profitable were the annual results of the Company’s trading that a ￡100 share would sell for ￡500.126 Before long the size of the ships just mentioned was to increase to 900 and even to 1300 tons, such was the demand for Indian products; and between the years 1682 and 1689 no fewer than sixteen East Indiamen varying in size from 900 to 1300 tons were constructed. All the East Indiamen were well armed, for even in the year 1677, when the Company owned from thirty to thirty-five ships of from 300 to 600 tons apiece, these vessels18 each mounted from forty to seventy guns.
It will be recollected19 that Bantam had been the first headquarters or chief factory whither the Company’s ships went for their trade. This continued until 1638, when Surat had developed so much, thanks to the concessions20 by the Great Mogul, that it replaced Bantam in pre-eminence. The last-mentioned factory, together with Fort St George in Madras, Hooghly in Bengal, and those establishments in Persia were all made subservient21 to Surat. A far-sighted person could have foreseen that all these scattered22 strongholds of trade might not improbably develop eventually into something very much more important politically. But it was Sir Josiah Child, the principal manager of the Company’s affairs at home, who was one of the first to project the forming of a territorial23 Empire in India.
We had reason to mention just now a ship which we described as being an interloper. The reader is well aware that in the first instance the charter granted to the English East India Company by Queen Elizabeth conveyed to them the exclusive privilege of trading to the East. This charter was renewed in the years 1609, 1657, 1661 and subsequently in other years. But such was the jealousy24, such the covetousness25 which were aroused by the127 Company’s successful voyages that a number of interlopers, quite contrary to the terms of the charter, fitted out expeditions of their own. These were evidently successful, too, especially during the latter part of the reign26 of Charles II., for the number of these private adventurers increased considerably27. The result, of course, was that the Company became exceedingly indignant and had to exert themselves to put an end to the trouble. But this, again, opened up the whole of the question as to whether the Company should continue to enjoy such a fine monopoly. There was a good deal of resentment28 against India being restricted to a favoured few. However the Government favoured the Company, for it had been found more than useful to the country in times of crisis, so again in the year 1693 it received its fresh charter.
But between the years 1694 and 1698 this Eastern trade practically was thrown open. And then the State happened to require a loan of ￡2,000,000. This was found by a newly formed company of associated merchants who had been very vigorous in opposing the East India Company’s privilege. And since this new company wanted only eight per cent. (not a high rate for those days) for their loan, they also received a charter. The result was that there were two companies trading to India and each with its own charter. The title of this fresh association was the New East India Company, and presently a kind of third company arose as an offshoot from this second one. All this competition had a most disastrous29 effect and brought both the old and new companies almost to ruin. Each company hated the other, while the public detested30 both most heartily31. There were only two possibilities open.128 Either both companies must be wrecked32 or they must amalgamate33. It was wisely decided34 to choose the latter. They therefore adjusted their differences, and in the year 1708 were amalgamated35 into one corporation, calling themselves “The United Company of Merchants of England Trading to the East Indies.” The capital was increased to ￡3,200,000. They were the means of aiding the Government by advancing to the latter ￡1,200,000 without interest, and the Government in turn agreed to extend the Company’s charter till the year 1726, with three years’ notice of termination. And it was subsequently extended till 1766.
During the last decade of the seventeenth century when hostilities36 existed between England and France the East India Company laid before the House of Lords an account of the great losses which the former had incurred37 at sea, owing to the lack of English cruisers. Those were no easy times for the ships bound either to or from the Orient, for, besides possible attacks from French men-of-war, the English Channel and approaches thereto were alive with privateers, to the great detriment38 of the Anglo-Indian trade. Some idea of the size and strength of the East India Company’s ships about this time may be gathered from the following list of craft which the French captured from them during the year 1694 alone:—
Name of Ship Tonnage Men Guns
Princess of Denmark 670 133 40
Seymour 500 — —
Success 400 80 32
Defence 750 150 50
Resolution 650 130 40
129
In later years one of the most valuable commodities which India was to produce and send to England in these ships was tea. The first importation by us was in the year 1667. Only a small amount, consisting of 100 lb., was sent, but it was not long before this was greatly exceeded. However, the early years of the eighteenth century were marked by a disappointment in the trade which the Company was doing. Although the latter’s ships were now trading also with China, yet the value of our exports to the East were less than ￡160,000 a year: and this, let it be remembered, included also military stores for the Company’s settlements in the East and at St Helena. The reason for this slump39 is easily explained. Every authority will admit that the finest tonic40 for trade is competition. Monopoly is death to enterprise, while a spirit of rivalry41 encourages progress. The East India Company was suffering from the decaying, deadening influence of its exclusive privilege and this went on till about the middle of the eighteenth century. The first half of that century is decadent42, not merely with regard to India, but most things English. Art was at its lowest, manners were never less sincere, morals were corrupt43, politics were little better. It almost seems as if England had lost the fair wind which had carried her through the Tudor times and then become gradually becalmed in the Stuart era till she rolled about with no progress, making only stern-way. And then, after a period of profitless existence, she seems to have picked up another breeze which has sent her along through the successful industrial age, the great wars, the Victorian and Edwardian years of prosperity up till to-day. The end of the eighteenth century is a period quite different from its130 first portion. And if it was so generally it could scarcely be different in regard to a corporation directed and managed by men of this period.
Just for a moment let us go back to that time when the East India Company decided it were best to close the Deptford yard and obtain their ships ready built. Now as time went on the hiring of ships to the Company for this Eastern trade led to great abuses. Officially the Company did no longer build their ships. But the Company’s directors used to build them privately44 and then hire them out to the Company, to the great personal gain of the directors. There were few other ships big enough or strong enough. The directors would know how many to build and to what extent prices could be demanded from the Company: and altogether they feathered their nests very nicely. This went on till the year 1708, when the old and new East India companies had become amalgamated. After this year the directors were prohibited by Act of Parliament from supplying ships to the Company.
Instead of the former corrupt arrangement, ships for the East India Company were to be hired in the future by open tender from the commander and two owners. But here again was a difficulty. Inasmuch as a special type of stalwart ship was required for this trade, the supply was small and in the hands of a ring called the Marine45 Interest. Therefore the Company was just about as badly off as before. And throughout the eighteenth century there was one continued contest between the East India Company and the shipbuilders, who did their level best to fleece the former as it had been fleeced by the State at different dates.
A BARQUE FREE-TRADER IN THE LONDON DOCKS.
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For the East India Company did not literally46 own their ships, even though they were called East Indiamen, flew the Company’s flag and made their regular voyages. A shipping47 company to-day buys and owns its own ships, but the East India Company had quite a different method. Up to the time when the old and new companies were amalgamated, in the year 1708, the owners and the Company were unfettered by any legislative48 provision. They could settle and adjust the points between themselves, and since the directors were part owners you may be sure there was little cause for dispute! But the by-law which came into force after the union of the two companies, prohibiting directors from being concerned in hiring ships to the Company, brought about a rather curious order of things. They were hired for so many voyages at so much a ton, the Company binding49 itself to freight a stipulated50 number of tons. These, by the way, were generally less than the official measurement. About the year 1700 the largest East Indiamen were under 500 tons, though their burthen was one-third greater.
Under the new arrangement the ships were to be taken up by the Company and their respective voyages agreed to in a Court of Directors by ballot51. No tenders were to be accepted except such as had been made by the commander and two owners of each ship. Furthermore, the sale of the post as captain or any other office was forbidden in the Company’s ships. This latter was an important modification52. The actual owner of the ship from whom the vessel17 was hired was termed the ship’s husband, and the practice had been for him to sell the command of the ship to a captain whom he would select. The132 expression in this case was to “sell the ship,” and a captain would sometimes pay as much as ￡8000 or ￡10,000 for the privilege of the appointment, because this position afforded him unique opportunities of making some handsome profits by the goods he brought home from the East in his ship as his own perquisites53. To such an extent did this practice become established that the sale of a command became transferable property of the captain who had bought it. Whenever he died or resigned his heirs or he himself had the undoubted right to dispose of the billet to the highest bidder54.
The reason for the abolition55 of this custom was that it was largely responsible for the high rates of freight which the Company was forced to pay. A compensation was paid to the captains in the service at the time of the abolition, but henceforth money could not buy the command of a ship for a man that was not adequately qualified56 for the post. Previously57 commands of ships had been held in some cases by men who possessed58 no right to such responsible tasks. Captain Eastwick, a master mariner59 of the eighteenth century, who has happily left behind his autobiography60, relates among a number of interesting personal reminiscences that he married the niece of a man who was sole owner of one East Indiaman and part owner of two more of these ships. It was therefore suggested that Eastwick should enter the Honourable61 Company’s service, and a command was promised as soon as he was qualified. “This was a very tempting62 offer,” writes the old sailor, “as there was no service equal to it, or more difficult to get into, requiring great interest.”
“It was the practice of the Company in those133 days to charter ships from their owners; these vessels were especially built for the service, and were generally run for about four voyages, when they were held to be worn out, and their places taken by others built for the purpose. About thirty ships were required for the Company every year,” he states, and then goes on to say that “there was never any written engagement on the part of either the owners or the Company as to the continuance of these charters, but the custom of contract was so well established that both parties mutually relied upon it, and considered themselves bound by ties of honour to observe their implied customary engagements. When, therefore, a ship’s turn arrived to be employed, the owner, as a matter of form, submitted a tender in writing to be engaged, and proposed a particular person as captain, and this tender and proposal were always accepted. Thus the owners of these East Indiamen had everything in their own hands, and the favour of one of them was a fine thing to obtain, leading to appointments of great emolument64.”
Some idea of the value of the East Indiaman captain’s appointment may be gathered from what Eastwick remarks under this head. “The captain of an East Indiaman, in addition to his pay and allowances, had the right of free outward freight to the extent of fifty tons, being only debarred from exporting certain articles, such as woollens, metals, and warlike stores. On the homeward voyage he was allotted65 twenty tons of free freight, each of thirty-two feet; but this tonnage was bound to consist of certain scheduled goods, and duties were payable66 thereon to the Company. As the rate of freight134 in those days was about ￡25 a ton, this privilege was a very valuable one. Of course much depended upon the skill and good management of the individual commander, the risk of the market, his knowledge of its requirements, and his own connections and interest to procure67 him a good profit. In addition to the free tonnage, he further enjoyed certain advantages in the carrying of passengers, for although the allowance of passage money outward and homeward was arbitrarily fixed68 by the Company, there being a certain number of passengers assigned to each vessel, and their fares duly determined69, ranging from ￡95 for a subaltern and assistant-surgeon to ￡235 for a general officer, with from one and a half to three and a half tons of free baggage, exclusive of bedding and furniture for their cabins, yet it was possible for captains, by giving up their own apartments and accommodation, to make very considerable sums for themselves. In short, the gains to a prudent70 commander averaged from ￡4000 to ￡5000 a voyage, sometimes perhaps falling as low as ￡2000, but at others rising to ￡10,000 and ￡12,000. The time occupied from the period of a ship commencing receipt of her outward cargo12 to her being finally cleared of her homeward one was generally from fourteen to eighteen months, and three or four voyages assured any man a very handsome fortune.”
But though these commands were very expensive to purchase and highly remunerative71 when obtained, yet like the professional man to-day this high remuneration was preceded by years of bad pay. Before a man could obtain the command of an East Indiaman he must necessarily have made a voyage135 as fifth or sixth mate, then another voyage as third or fourth mate, and finally a third voyage as first or second mate. Now these junior officers in the Company’s service were quite unable to live on their pay “and it required a private capital of at least five hundred pounds to enable a man to arrive at the position of second mate, which was the lowest station wherein the pay and allowances afforded a maintenance.”
Whenever an Indiaman became worn out, or condemned72, another ship was hired to replace her, and was said to be “built upon the bottom” of the first. The member or members of the Marine Interest who had built the first ship claimed the right of building the second, and so it went on. The result was that there arose what were known as “hereditary bottoms.” This went on till the year 1796, when some of the more public-spirited of the directors and shareholders of the East India Company put their heads together and determined to have this system entirely73 altered. It is indeed most extraordinary that the principle of monopoly seemed to pervade74 every feature of the Company’s transactions, from the broad, important principle of exclusive trade with the East down to the building of ships and the exclusive privileges of their commanders. In any other line of commerce the rate of freight found its own level, but in the East India Company there was but one bidder, and that also a monopoly. As the voyage was long and difficult and full of dangers, it was natural enough that good commanders should be desired. If an owner had a good captain, the Company were only too pleased to have him.
The passing of a by-law in the year 1773 pre136vented a ship from being engaged for the Company’s service for more than four voyages at a certain freight, this being calculated on an estimate of the building and the cost of fitting out a vessel with provisions and stores for a certain number of months. In the years 1780 and 1781 differences of opinion arose between the owners of the ships and the Court of Directors of the East India Company as to the rate of freight demanded. Owing to the hostilities with the Dutch, the rates of insurance and fitting out were stated to have caused an additional charge of ￡10, 14s. a ton. The contest between these two opposing sets of monopolists was always amusing to an outsider. The Company wanted the ships badly, for their very existence depended on their ability to carry cargoes between England and India. On the other hand the owners had built these ships especially for the Company’s service. They represented a great outlay75 of capital, and they were so big and efficient that there was practically no other trade in which they could be profitably employed. So, after a certain amount of mutual63 indignation had cooled off, and the usual haggling76 had proceeded, both parties were wont77 to come to a compromise and matters went on as before till the next dispute occurred.
Thus, for instance, in the year 1783 the Court of the East India Company’s directors fixed the rate of freight at ￡32 per ton for a ship of 750 tons. To this the owners replied that it was quite impossible to provide the ships under ￡35 a ton. The Court then showed their independence. They were resolved not to suffer the intolerable humiliation78 of being dictated79 to by these owners, so the Company137 advertised for tenders. Eventually twenty-eight ships were offered the Company by various private owners in respect of this advertisement. But after the Company’s inspecting officer had carefully examined these vessels he had to report that they were either foreign-built, or weak of structure, or else almost worn out: in any case quite unfitted for the long voyage to India and back. This placed the Company in rather a dilemma80, and gave something of a shock to their independent spirit. Meanwhile the owners who had hitherto provided the Company with ships had taken alarm at thus throwing open the tender for competition. They were in serious danger of losing their own monopoly: so they began to climb down and offered the Company the rate of ￡33 a ton. And inasmuch as the latter required as much as 10,000 tons the two parties agreed on this last-mentioned price, more especially as the ships were known to be sound in every respect, having actually been built under the direction of the Company’s officials.
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joint
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| adj.联合的，共同的；n.关节，接合处；v.连接，贴合 | |
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pro
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| n.赞成，赞成的意见，赞成者 | |
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shareholders
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| n.股东( shareholder的名词复数 ) | |
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covetous
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| adj.贪婪的，贪心的 | |
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appeased
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| 安抚，抚慰( appease的过去式和过去分词 )； 绥靖（满足另一国的要求以避免战争） | |
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6
commissioners
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| n.专员( commissioner的名词复数 )；长官；委员；政府部门的长官 | |
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constrained
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| adj.束缚的,节制的 | |
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Portuguese
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| n.葡萄牙人；葡萄牙语 | |
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seamen
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| n.海员 | |
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arrears
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| n.到期未付之债，拖欠的款项；待做的工作 | |
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presidency
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| n.总统(校长，总经理)的职位(任期) | |
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cargo
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| n.(一只船或一架飞机运载的)货物 | |
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cargoes
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| n.（船或飞机装载的）货物( cargo的名词复数 )；大量，重负 | |
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destined
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| adj.命中注定的；(for)以…为目的地的 | |
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complexion
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| n.肤色；情况，局面；气质，性格 | |
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massacre
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| n.残杀，大屠杀；v.残杀，集体屠杀 | |
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vessel
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| n.船舶；容器，器皿；管，导管，血管 | |
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vessels
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| n.血管( vessel的名词复数 )；船；容器；（具有特殊品质或接受特殊品质的）人 | |
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recollected
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| adj.冷静的；镇定的；被回忆起的；沉思默想的v.记起，想起( recollect的过去式和过去分词 ) | |
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concessions
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| n.（尤指由政府或雇主给予的）特许权( concession的名词复数 )；承认；减价；（在某地的）特许经营权 | |
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subservient
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| adj.卑屈的，阿谀的 | |
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scattered
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| adj.分散的，稀疏的；散步的；疏疏落落的 | |
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territorial
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| adj.领土的，领地的 | |
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jealousy
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| n.妒忌，嫉妒，猜忌 | |
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covetousness
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reign
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| n.统治时期，统治，支配，盛行；v.占优势 | |
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considerably
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| adv.极大地；相当大地；在很大程度上 | |
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resentment
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| n.怨愤，忿恨 | |
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disastrous
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| adj.灾难性的，造成灾害的；极坏的，很糟的 | |
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detested
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| v.憎恶，嫌恶，痛恨( detest的过去式和过去分词 ) | |
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heartily
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| adv.衷心地，诚恳地，十分，很 | |
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wrecked
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| adj.失事的，遇难的 | |
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amalgamate
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| v.(指业务等)合并，混合 | |
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decided
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| adj.决定了的，坚决的；明显的，明确的 | |
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amalgamated
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| v.（使）（金属）汞齐化( amalgamate的过去式和过去分词 )；（使）合并；联合；结合 | |
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hostilities
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| n.战争；敌意(hostility的复数)；敌对状态；战事 | |
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incurred
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| [医]招致的，遭受的； incur的过去式 | |
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detriment
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| n.损害；损害物，造成损害的根源 | |
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slump
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| n.暴跌，意气消沉，（土地）下沉；vi.猛然掉落，坍塌，大幅度下跌 | |
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tonic
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| n./adj.滋补品，补药，强身的，健体的 | |
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rivalry
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| n.竞争，竞赛，对抗 | |
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decadent
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| adj.颓废的，衰落的，堕落的 | |
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corrupt
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| v.贿赂，收买；adj.腐败的，贪污的 | |
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privately
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| adv.以私人的身份，悄悄地，私下地 | |
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marine
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| adj.海的；海生的；航海的；海事的；n.水兵 | |
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literally
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| adv.照字面意义，逐字地；确实 | |
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shipping
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| n.船运（发货，运输，乘船） | |
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legislative
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| n.立法机构，立法权；adj.立法的，有立法权的 | |
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binding
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| 有约束力的，有效的，应遵守的 | |
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stipulated
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| vt.& vi.规定；约定adj.[法]合同规定的 | |
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51
ballot
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| n.（不记名）投票，投票总数，投票权；vi.投票 | |
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52
modification
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| n.修改，改进，缓和，减轻 | |
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53
perquisites
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| n.（工资以外的）财务补贴( perquisite的名词复数 )；额外收入；（随职位而得到的）好处；利益 | |
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bidder
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| n.(拍卖时的)出价人，报价人，投标人 | |
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55
abolition
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| n.废除，取消 | |
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qualified
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| adj.合格的，有资格的，胜任的，有限制的 | |
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previously
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| adv.以前，先前（地） | |
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possessed
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| adj.疯狂的；拥有的，占有的 | |
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mariner
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| n.水手号不载人航天探测器，海员，航海者 | |
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autobiography
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| n.自传 | |
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honourable
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| adj.可敬的；荣誉的，光荣的 | |
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tempting
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| a.诱人的, 吸引人的 | |
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mutual
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| adj.相互的，彼此的；共同的，共有的 | |
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emolument
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| n.报酬，薪水 | |
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allotted
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| 分配，拨给，摊派( allot的过去式和过去分词 ) | |
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payable
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| adj.可付的，应付的，有利益的 | |
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procure
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| vt.获得，取得，促成；vi.拉皮条 | |
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fixed
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| adj.固定的，不变的，准备好的；(计算机)固定的 | |
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determined
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| adj.坚定的；有决心的 | |
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prudent
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| adj.谨慎的，有远见的，精打细算的 | |
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remunerative
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| adj.有报酬的 | |
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condemned
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| adj. 被责难的, 被宣告有罪的 动词condemn的过去式和过去分词 | |
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entirely
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| ad.全部地，完整地；完全地，彻底地 | |
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pervade
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| v.弥漫，遍及，充满，渗透，漫延 | |
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outlay
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| n.费用，经费，支出；v.花费 | |
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haggling
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| v.讨价还价( haggle的现在分词 ) | |
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wont
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| adj.习惯于；v.习惯；n.习惯 | |
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humiliation
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| n.羞辱 | |
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dictated
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| v.大声讲或读( dictate的过去式和过去分词 )；口授；支配；摆布 | |
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dilemma
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| n.困境，进退两难的局面 | |
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