The Emperor was of opinion that, in the new political combination of Europe, the fate of that portion of the world depended entirely on the capacity and disposition of a single man. “Should there arise,” said he, “an Emperor of Russia, valiant, impetuous, and intelligent; in a word, a Czar with a beard on his chin, (this he pronounced very emphaticallly[emphaticallly]) Europe is his own. He may commence his operations on the German territory, one hundred leagues from the two capitals, Berlin and Vienna, whose sovereigns are his only obstacles. He secures the alliance of the one by force, and with his aid subdues the other, at a single stroke. He then finds himself in the heart of Germany, amidst the Princes of the second rank, most of whom are either his relations or dependents. Meanwhile, he may, should he think it necessary, throw a few firebrands across the Alps, on the soil of Italy, ripe for explosion, and he may then march triumphantly to Paris to proclaim himself the new Liberator. I know if I were in such a situation, I would undertake to reach Calais in a given time, and by regular marching stations, thereto become the master and arbiter of Europe....” Then, after a few moments’ silence, he added, “Perhaps, my dear Las Cases, you may be tempted to say, as the minister of Pyrrhus said to his master, ‘And after all, to what purpose?’ My answer is, to establish a new state of society, and to avert great misfortunes. This is a blessing which Europe expects and solicits. The old system is ended, and the new one is not consolidated, and will not be so until after long and furious convulsions.”

The Emperor was again silent, and after measuring, with his compasses, the distances on the map, he observed that Constantinople was, from its situation, calculated to be the centre and seat of universal dominion.

He then alluded to the English settlements in India, and asked me whether I knew any thing of their history. I told him what little I knew on this subject.

Queen Elizabeth created an East India Company by virtue of her royal prerogative.

A century later, the Parliament created another. However, as these two companies were found to injure each other by their competitions, they were united under one charter.

In 1716, the Company obtained from the sovereigns of India the famous firman or Indian charter, authorizing them to export or import free of all duty.

In 1741, the Company first commenced military interference in the affairs of India, in opposition to the French Company, who took the adverse side. Since then, the two nations have constantly waged war in that distant land, whenever a contest arose between them in Europe. France had a short interval of success in the war of 1740, was crushed in 1755, maintained an equality in 1779, and at length totally disappeared during the war of the Revolution.

The English East India Company now rules the whole peninsula, including a population of more than 60,000,000, of which 20,000,000 are its subjects, 20,000,000 its tributaries or allies, and the rest are involved in its system and obliged to go along with it.[[4]]

Such is the famous East India Company, which at once acts the part of merchant and sovereign; whose wealth is derived both from commercial profits and territorial revenues. Hence it results that the merchant is frequently actuated by the ambition of the sovereign, while the sovereign plans, directs, and executes with the cupidity of the merchant. In these peculiar circumstances, in this two-fold character, we may trace the cause of the progress, measures, conflicts, contradictions, disorders, and clamours, that compose the history of this celebrated Company.

The English East India Company has long reigned absolute and independent. It was and still continues to be represented by a Court of Directors, chosen from among the proprietors. These Directors delegate and direct in India, by despatches, a regency or council, consisting of a Governor and some assessors, who represent and exercise the sovereign authority.