In that light, with regard to the Company's imports, there was a total
prohibition from domestic use of the most considerable articles of their
trade,--that is, of all silk stuffs, and stained and painted cottons.
The British market was in a great measure interdicted to the British
trader. Whatever advantages might arise to the general trading interests
of the kingdom by this restraint, its East India interest was
undoubtedly injured by it. The Company is also, and has been from a
very early period, obliged to furnish the Ordnance with a quantity of
saltpetre at a certain price, without any reference to the standard of
the markets either of purchase or of sale. With regard to their export,
they were put also under difficulties upon very mistaken notions; for
they were obliged to export annually a certain proportion of British
manufactures, even though they should find for them in India none or but
an unprofitable want. This compulsory export might operate, and in some
instances has operated, in a manner more grievous than a tax to the
amount of the loss in trade: for the payment of a tax is in general
divided in unequal portions between the vender and consumer, the largest
part falling upon the latter; in the case before us the tax may be as a
dead charge on the trading capital of the Company.
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