It appears in evidence that natives can hardly
trade to the best advantage, (your Committee doubt whether they can
trade to any advantage at all,) if not joined with or countenanced by
British subjects. The Directors were in 1775 so strongly impressed with
this notion, and conceived the native merchants to have been even then
reduced to so low a state, that, notwithstanding the Company's earnest
desire of giving them a preference, they "doubt whether there are at
this time in Bengal native merchants possessed of property adequate to
such undertaking, or of credit and responsibility sufficient to make it
safe and prudent to trust them with such sums as might be necessary to
enable them to fulfil their engagements with the Company."
The effect which so long continued a monopoly, followed by a preemption,
and then by partial preferences supported by power, must necessarily
have in weakening the mercantile capital, and disabling the merchants
from all undertakings of magnitude, is but too visible. However, a
witness of understanding and credit does not believe the capitals of the
natives to be yet so reduced as to disable them from partaking in the
trade, if they were otherwise able to put themselves on an equal footing
with Europeans.
Pages:
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179