EAST INDIA QUESTION.
Another monopoly with which the government had to deed was that of the East India Company, their charter approaching its termination. The arrangements which government proposed should be adopted with the company were explained in a committee of the whole house by Mr. C. Grant, on the 13th of June. He stated first that the political government of India was to be continued in the hands of the company for some time longer; the reasons for it being the good which that government had done. That there were evils in the system of administration in India he would admit; but he argued, that they were more than counterbalanced by the security of life and property, which had been secured to the natives by the rule of the company. The next great question was, he said, the company’s monopoly of the trade with China. Public opinion had decided that it should no longer exist; and it was only justice to the expression of the public opinion in this case to state that it was not the clamour of the moment—that it was the voice of an enlightened community formed during a succession of years. After detailing various facts, to show that from the competition of private traders the monopoly of the company could not long continue, even if parliament did not interfere, Mr. Grant said that government proposed the monopoly should cease in April, 1834, and that the trade to China should then be open to all the merchants of this country. In consideration of the East India Company surrendering all its rights and privileges, Mr. Grant said it was proposed that the government of India should be continued in the hands of the company for the period of twenty years, and that an annuity of £630,000 per annum should be granted to them, to be charged on the territory of India. At the end of twenty years, he said, if the East India Company should be deprived of the government of India, then the payment of their capital might be demanded; and if not, the payment of the annuity was to be continued for forty years. He explained further, that certain alterations were likewise to be introduced in the frame of the government of India; and he said that he should further have to call the attention of the house to the state of the ecclesiastical establishments in that country. He concluded by moving the following resolutions:—“That it is expedient that all his majesty’s subjects should be at liberty to repair to the ports of the empire of China, and to trade in tea and in all other productions in the said empire, subject to such regulations as parliament shall enact for the protection of the commercial and political interests of this country: That it is expedient that, in case the East India Company shall transfer to the crown, on behalf of the Indian territory, all assets and claims of every description belonging to the said company, the crown on behalf of the Indian territory, shall take on itself all the obligations of the said company, of whatever description; and that the said company shall receive from the revenues of the said territory such a sum, and paid in such a manner as parliament shall enact: That it is expedient that the governments of the British possessions in India be entrusted to the said company, under such conditions and regulations as parliament shall enact, for the purpose of extending the commerce of this country, and of securing the good government, and promoting the moral and religious improvement of the people of India.” These resolutions were agreed to without any opposition; and on the 5th of July they passed the lords without a division, although they were sternly opposed by Lord Ellenborough, who denounced the whole scheme as being a crude and ill-digested plan, the offspring of unfounded theories, formed by men who knew nothing, and desired to know nothing of India. A bill was subsequently brought into the house of commons founded on the resolutions, and, after some unsuccessful motions of amendment, was carried. In the upper house Lord Ellenborough renewed his opposition, and moved, “That all provisions in the bill, which went to alter the existing laws in the East Indian presidencies, should be omitted.” This amendment, however, was not pressed to a division; and the bill was finally passed. One of the greatest advantages which the public gained by this important measure, was that which opened a rich field for the enterprise and industry of our merchants by destroying the monopoly of the trade in tea. Facilities for conducting this branch of commerce, together with a considerable relief from taxation on the article of tea, was given try a subsequent bill for regulating its importation. It must be confessed, indeed, that the adoption of this measure by parliament was highly beneficial to the interests of the community at large. By it the long and complicated account between commerce and territory was settled; the pernicious union of imperial and economical functions in the body of proprietors of East India stock was at an end; every office under the company was thrown open to British subjects without distinction, and the whole of India was opened to European enterprise and European capital. A grand feature of the bill, also, was that which provided for extending the influence and utility of the Anglo-Indian church.