It may be deemed presumptuous in an individual, to question the orthodoxy of a maxim so powerfully enforced by one party, readily allowed by the other, and almost universally credited: tho’ the extraordinary circumstance, of two violent rival parties concurring so exactly on a point, where their personal interest seems to be so materially and so oppositely engaged, would lead a bystander to suppose, that either one of the two parties must be mistaken; or otherwise, that one or both must misrepresent: at any rate, that uncommon instance of candour, in ministry’s preaching up a doctrine so repugnant to that which it pretends to be its own personal interest, would induce such bystander to suspect its sincerity. However, as a right understanding of this point may considerably import the public, at this critical juncture, I shall venture disclosing my sentiments, at the risk of censure for prolixity, as well as impertinence.
With regard to the first part of the maxim, I conceive that the danger to liberty, from government’s holding this charge in its own hands, is supposed to arise from the influence which the minister would acquire, over the two subject branches of legislature, (those bulwarks of liberty) by means of the many emoluments, places, posts, &c. annexed to the possession of that charge. But before we admit that the ministers holding this charge would be creative of that dangerous influence, we ought to be satisfied that he doth not already possess it, by other means; for, if he doth already possess such influence by other means, it is plain that the Indian charge cannot confer it; nor will it avail to shut one door, whilst there are others open to admit him. And that the minister hath long been in full and plenary possession of such influence, we have ever heard asserted by these very men who so loudly enforce the danger of his acquiring it, by means of this Indian charge: nay, we have much better authority than their contradictory assertions, (even that of fact and daily experience,) for believing that the minister hath and doth possess posts and places, and that, on any emergency, he hath in his power other means equally effectual, towards creating and holding such influence, in a degree as plenary and complete as his own heart can desire. And, if the minister doth already possess such influence by other means, it is plain, that the Indian charge cannot confer it; nor will it avail to shut one door, whilst there are others open to admit him. And that the minister hath been long in full and plenary possession of such influence, we have ever heard asserted by those very men, who so loudly enforce the danger of his acquiring it, by means of this Indian charge: nay, we have much better authority than their contradictory assertions, (even that of fact and daily experience,) for believing that the minister hath and doth possess posts and places, and that on any emergency he hath in his power other means equally effectual, towards creating and holding such influence, in a degree as plenary and complete as his own heart can desire. And, if the minister doth already possess an influence so fully sufficient, it must be allowed that, in so much as respects parliamentary influence, this Indian charge would be a thing superfluous and useless to him; like meat to a man that hath already filled his belly; the absence of it can withhold nothing that he wants, and the acquisition cannot confer more than he already possesses. I may venture to add, that we certainly hold our liberty by some latent security, more powerful than that of parliament itself, which neither the minister’s influence over parliament, nor posts and places, will ever induce him to attack, or enable him to subdue; for that, otherwise, we should have been divested of our privileges and liberty long ago. And, upon considering these several circumstances, I conclude, that if this Indian charge was in the hands of government to-morrow, it would neither enable, nor induce the minister, to attempt a jot more against our liberty, than he hath done, can do, and will do, without it. However, by way of reinforcing my argument, I shall add that, if the plan which I mean to propose should be carried into execution, it would leave but few of these emoluments, &c. to the immediate disposal of the minister; and, possibly, this declaration may but little recommend it to his favour.
But still, if we were to admit a real danger to liberty from the minister’s possessing these emoluments, &c. it remains to be proved that liberty hath been, is, and will be secured from such danger, by the Company’s holding that Indian charge. And, when the nature of this security comes to be examined, I apprehend it will be found more difficult to prove this latter part of the maxim, than the former. For it is notorious that, ever until the late distraction in the Company’s affairs, the arbitrary application of these emoluments, posts, &c. was vested in the Directors; and indeed the entire powers and interests of the Company; insomuch that the Directors might, with propriety, be termed the Company. So that the whole security of national liberty, and, of course, the sole obstruction to the minister’s dangerous views, depended on the integrity and independent spirit of 24 Directors; of whom, again, one or two generally leads all the rest. Consequently, to come at the fingering of these dangerous emoluments, &c. the minister had only to subvert the integrity, or subdue the independance, of these Directors. And, to effect this, a minister possessed more than one infallible recipe. By artfully joining the mighty influence which he held in the Company’s stock thro’ his numerous dependants, to one or other of two parties contending violently for the direction, he could reduce both to a perfect dependance on himself: by the same means he could hold them in subjection: but still more, by the awe of wresting from them the sweet management of this Indian sovereignty, which they were sensible he could do by a word. And thus he could work upon their fears. But inclination would naturally and powerfully lead the Directors to throw themselves into the arms of a minister; not so much for his immediate assistance; tho’ even that might be of great use, for rendering matters easy with the proprietors, as well as parliament and the nation; but because, on these terms, they secured, in him, an omnipotent supporter and all powerful advocate, against the day of distress, which they well knew must come, and that soon: whereas, otherwise, they must lay their account with finding him a severe judge, and bitter prosecutor.
By these several operations on the hopes and fears of the Directors, it was extremely easy for a minister to render them as pliant as a glove; as obedient as a spaniel, to fetch and carry at bidding. And the Directors being once reduced to this state of dependance, it is evident, that the minister must possess a full and arbitrary power over all the emoluments, posts, places, &c. appertaining to this Indian charge. But the disposal of the present emoluments, &c. was a trivial matter, compared with other advantages, which this Indian business, whilst in the hands of the Company, presented to an artful and enterprising minister. For, under the plausible and indeed undeniable pretext of qualifying the Company for administring this sovereign charge, he might have drawn from the legislature certain military as well as political powers; which, being gradually augmented as occasion offered, might have at last established a sort of power, in this government, distinct from and independent of the legislature: the exertion of which power, being confided to the Directors, would in fact have rested with the minister. Here indeed was a real danger to liberty; provided it had been possible to hold up this Indian business, in the hands of the Company, for any length of time; for, notwithstanding I consider national liberty as inexpugnable to the open assaults of a minister, yet, from such a secret convenient and commanding post as this mentioned, he might have made frequent sly and successful incursions on the confines of liberty; which would have greatly straitened her quarters, and wasted her strength.
On the other hand, if that Indian charge had been vested in the national government, liberty must have been perfectly secured from this last mentioned danger; for, in such case, there could have been no pretext for demanding these extraordinary distinct powers; and, consequently, no opportunity of establishing that truly dangerous imperium in imperio. And even in the application of the ordinary powers, emoluments, &c. a minister must have been subjected to many troublesome checks, and restraints. His Majesty, who can have no views distinct from the general interest of his people, must have held a principal voice in every measure; as likewise must some others his counsellors. Parliament too must have proved an inconvenient restraint on a minister; particularly in the article of estimates and accounts of revenue, which must have been submitted to its inspection; and notwithstanding the certainty of carrying points by a majority of voices, yet, as there will ever be some refractory members, these might have carried tales to the public; which, provided this charge had been in the hands of national government, would have judged itself interested in the affair; and would therefore have taken the liberty to criticise his measures, or censure his misconduct. Whereas, this business being secured, as private property, in the hands of the Company, king, parliament, and nation were all excluded from participation: the proprietors alone had a right to examine measures or accounts; and, the majority of them upon all questions being mercenary retainers to ministry and the direction, they must have ever been a mere servile pecus. So that the business might have been snugly confined to three or four ministerial associates, with their faithful dependants in Leadenhall Street; whilst the minister needed never appear in the affair; free from care, charge, or trouble; and irresponsible for either measures, or consequences; he might enjoy all the sweets, without the least alloy of bitter.
Sure I am if I had been minister, and minded to make a job of this Indian business, I would certainly have exerted myself most sedulously to preserve it in the hands of the Company. And, to divert the nation from ever turning her eye towards it, I would have strenuously inculcated the rights of the Company, national faith, the impossibility of conducting this business otherwise than through the Company; and, above all things, I would, by my emissaries, have alarmed the public, with fears of danger to their liberty, should this business ever come into the hands of government; whilst, by the same canal, I would have trumpeted forth my own candour, disinterestedness as a minister, indifference to power, and delicate regard to national liberty and private property, in thus disclaiming an object so replete with ministerial advantages, which was within my power. And thus would I have continued the game, until it was up: and then I would have directed the enquiries, which decency and regard to appearances extorted from me, in such a manner as to suppress, instead of investigating: though, at same time, I would have boldly expressed my indignation at the Company’s misconduct; and loudly denounced vengeance against the individuals that had shared in the plunder; not a soul that was guilty should escape. And, to wind up the whole affair dextrously, I would have tasked my own powers, and those of my myrmidons, to represent all these Indian acquisitions as a transitory, casual, and accidental piece of business; which was altogether out of our tract; and which, if the nation had ever engaged in maintaining them, would have ruined and exhausted her: and so the nation was to thank me, for withholding her from ruin.
In this manner, I say, would I, who am a reptile, have acted, had I been minister, and minded to make a job of this business: but I am far from intimating or insinuating that our ministers, who are men of high birth and strict honour, could be capable of admitting even a thought of taking such base advantages. All that I have said is only meant to show, that a minister, if he had the inclination, possessed an infinitely fairer opportunity, of converting this business to sinister purposes, whilst it was in the hands of the Company; than he possibly could have had, from the same business, under the conduct of national government. And, from thence, I would infer that, had this business been in the hands of government, our liberty, nay and our property too, would have been secured from many dangers, to which they have been exposed, whilst this business hath been in the hands of the Company.
I cannot then conceive what other objections could be started against government’s taking upon itself the charge of this Indian dominion: unless it be the old trite arguments of timid sluggish indolence, want of enterprize, &c. That, the distance of situation rendering it impossible for Britain to properly maintain and govern this dominion, it would become an object of no true value or importance, but rather a heavy load exhausting her strength. But it is now more than time for the nation to recal her faith from men whom she hath sufficient ground to suspect of deceit; and, rousing her senses, to take the liberty of trying these matters by the standard of her own reason; which we shall endeavour to aid by the following hints.
To properly demonstrate the true value and importance of this Indian dominion to Britain, would demand a volume; we have, in the first part, presented a slight sketch of it; here therefore we shall offer only one or two remarks respecting its importance to our finances; and though we do not offer these remarks as the result of exact calculation, yet will they serve to throw a light on this subject. Ever since the last war Britain hath paid annually to foreign creditors, in interest, about 1,500,000 l. and this is paid, not in paper, but all in hard money; or, otherwise, in what is equivalent, the stoppage of so much hard money as is reckoned to come into Britain by the balance of her trade. On the other hand, the net specie balance of trade with all the world, (exclusive of that part which strictly and properly may be termed the produce of Indian dominion,) after deducting the imperceptible and enormous drain of specie made by smuggling, doth not at this day perhaps amount to 800,000 l. The difference then betwixt her numerical specie disbursement and receipt in balance of trade, must needs have been made good from some other fund than the circulating stock of specie, otherwise circulation must in that number of years have totally ceased. And this fund we need not mention to have been the dominion in India. Ever since 1757, the private fortunes acquired there in consequence of dominion or conquest, having been remitted either in bills on foreign Indian companies, or in diamonds, have created an annual influx of specie, (or what is equivalent,) to the amount of at least 700,000 l.[[1]] The Company too received since that period, and previous to the Dewanny, though by virtue of dominion or conquest, sundry large sums of money; which she invested in merchandize; and, thereby, saved to Britain so much specie as she would, otherwise, have transmitted for the purchase of such merchandize; and it doth not require demonstration to prove, that all such saving is, in every respect, the same as the influx of an equal sum. And ever from 1765, till some time in 1770, the Company paid for all her cargoes, not only in India but in China, with the surplus revenue of Bengal: and of course this surplus revenue hath, for that space, saved, (which is the same as gained) annually to Britain, the whole sums which the Company used to transmit for the purchase of her cargoes in India and China; and which, on an average, may be reckoned 500,000 l. per annum: but these cargoes were, from 1765, encreased to an enormous degree; and if we add only 200,000 l. for such encrease, we shall find that the surplus revenue of Bengal hath, by the return of trade, created an annual influx to Britain of at least 700,000 l. in specie: and this, added to the private fortunes, makes 1,400,000 l. received yearly by Britain, from Indian dominion.
But, for these two years past, the ruinous situation of those countries, and the consequent deficiency of revenue, hath obliged the Company to either transmit money from Europe, or otherwise to borrow money abroad, on bill or bond, for the purchase of all her cargoes in India as well as China: and the Company, by thus borrowing, for the purchase of cargoes, and even the expence of her government, hath absorbed the private fortunes, which, till then, had been transmitted to Britain, by bills on foreign companies. We must therefore perceive, without descending to tedious investigation, that the ruined state of those countries, having cut off surplus revenue, hath, for these two years past, diminished the annual influx to Britain from Indian dominion, at least one half, or 700,000 l. And this diminution of influx, whilst our drain continues the same, we already begin to feel in our circulation: though this felt effect is not yet traced up to its cause. Of what mighty importance then must this Indian dominion have been, to the circulation of Britain: when this circulation feels severely, from only two years partial deprivation of the benefit formerly derived from that dominion? And what effect must a total deprivation of that benefit operate, in a few years, on this circulation; whilst, we are continuing to pay to our foreign creditors about 1,500,000 l. per annum in numerical specie; exclusive of other less noted drains, which, it is most probable mount it up much higher? And yet it is evident, that Britain must, unavoidably, be deprived of this whole benefit, so soon as she shall lose her dominion in India; whether that loss shall be caused by enemies, or by the ruin of the countries subjected. Nay, by losing the dominion of Bengal singly, she must not only incur a deprivation of almost the whole dominion benefit; but she must likewise lose by far the most valuable part of that commerce, which was carried on by the Company with those countries, previous to dominion. For the commerce with Bengal, alone, is of much greater value, than that with all the rest of India: and, as to the trade with China, it is the most pernicious and losing trade to the nation; however convenient it may be to government.