The Company's investments, as the
General Letter from Bengal of the 20th of November, 1775, par. 28,
states the matter, "are never at a stand; advances are made and goods
are received all the year round." Balances, the grand instrument of
oppression, naturally accumulate on poor manufacturers who are intrusted
with money. Where there is not a vigorous rivalship, not only tolerated,
but encouraged, it is impossible ever to redeem the manufacturers from
the servitude induced by those unpaid balances.
No such rivalship does exist: the policy practised and avowed is
directly against it. The reason assigned in the Board of Trade's letter
of the 28th of November, 1778, for its making their advances early in
the season is, to prevent the foreign merchants and private traders
_interfering_ with the purchase of their (the Company's) assortments.
"They also refer to the means taken to prevent this interference in
their letter of 26th January, 1779." It is impossible that the small
part of the trade should not fall into the hands of those who, with the
name and authority of the governing persons, have such extensive
contracts in their hands.
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