The purchase by these
bills they entirely divert from raw silk, and order to be laid out
wholly in piece-goods.
Thus, having found by experience that this trade, whilst carried on upon
the old principles, of whatever advantage it might have been to the
British manufacturers, or to the individuals who were concerned in it in
Bengal, had proved highly detrimental to the Company, the Directors
resolved to expunge the raw silk from their investment. They gave up the
whole to private traders, on condition of paying the freight, charges,
and duties,--permitting them to send it to Europe in the Company's ships
upon their own account.
The whole of this history will serve to demonstrate that all attempts,
which in their original system or in their necessary consequences tend
to the distress of India, must, and in a very short time will, make
themselves felt even by those in whose favor such attempts have been
made. India may possibly in some future time bear and support itself
under an extraction of measure [treasure?] or of goods; but much care
ought to be taken that the influx of wealth shall be greater in quantity
and prior in time to the waste.
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