The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1844-05-21 00:00:00

EAST INDIA COMPANY.

A brief sketch of the origin and constitution of the
East India Company will not be an uninteresting subject
to our readers at the present moment. The first adven-
ture from England to the East Indies took place in the
year 1591, and the first charter was granted in 1600: a
second charter was granted in 1609. An English fac-
tory was established at Calcutta 1690, a new company
was established in 1698, and a union of the companies
took place in 1702, which was confirmed in 1708
by act of parliament, 6th Anne, cap. 17, and the
differences between the companies were referred to
the arbitration of Lord Godolphin. Their trading ca-
pital at that time was £3,200,000. In the year 1730
the company surrendered their claims, to be a body poli-
tic and corporate, to have perpetual succession, and the
exclusive trade to the East Indies, and subjected their
claim to be redeemable or determinable by parliament.
This was effected by 3d George 11., c. 14. The first ter-
ritorial acquisition made by the company was the town of
Calcutta, which they purchased in 1698, where their factory
was first established. In 1756 Calcutta was captured by
Serajah Dowla, and 146 British subjects were imprisoned
in the Black Hole, of whom 123 perished in one night.
In 1757, Calcutta was re-taken by Colonel, afterwards
Lord Clive, who with 3,000 defeated the Soubah with
50,000 at Plassey. By this victory he acquired the terri-
tory of Bengal, and in 1765 he obtained the Dewanny by
an imperial grant, which constitutes the company receivers
of the revenue of Bengal, Bahia, and Orissa.

In 1773 the celebrated India Bill passed (13 George
111., c. 63) which recites "that whereas the several pow-
ers and authorities granted by charters to the united com-
pany of merchants of England, trading to the East Indies,
have been found, by experience, not to have sufficient
force to prevent various abuses which have prevailed in
the government and administration of the affairs of the
said united company ;" and enacts, " that there shall be
a Governor General and four councillors for the Govern-
ment of the presidency of Fort William, in Bengal, and
gives them the power of superintending, and controlling
the other presidencies; and appoints Warren Hastings to
be the first Governor General, to continue in the office
five years, unless recalled by His Majesty, upon re-
presentation made by the Court of Directors, and by this
act a supreme court of judicature was established at Cal-
cutta. _ _ _ _ _

In 1783 the Board of Control was established by 24
Geo. 111., sec. 2, c. 25, which was authorised and em-
powered, from time to time, to superintend, direct, and
control, all acts, operations, and concerns, which in any
wise relate to the civil or military government, or reven-
ues of the British territorial possessions in the East
Indies.
The territorial possessions in India, with the exclusive
trade, was continued from time to time by acts of parlia-
ment until the year 1813, when, by 53d Geo. 111., c. 155,
the trade of India was opened to all British subjects, with
the exception of the trade to China, which was reserved
to the Company, and possession and government of the
British territories in India were continued in the com-
pany for a further term. In 1833, the act under which
the company is now constituted was passed (3 and 4 Wm.
IV., c. 85.) This act recites that the company have con-
sented that all their territorial and commercial, real and
personal assets and property whatsoever should, subject to
the debts and liabilities then affecting the same, be placed
at the disposal of parliament ; and that the company had
also consented that their right to trade for their own
profit in common with other British subjects be sus-
pended during such time as the government of the said
territories shall be confided to them. By this act, passed
ten years ago, the government of the territories is con-
tinued to the company till April 30, 1854, but in trust for
the crown of the United Kingdom, and discharged from
all claims of the company to any profit therefrom to their
own use, except the dividend of £lO 108. per cent. on the
amount, at that time, of their capital stock, By this act
it is also enacted, that all vacancies happening in the
office of Governor General of India, shall from time to
time be filled up by the Court of Directors, subject to
the approbation of Her Majesty. Her Majesty.is also
empowered to dismiss or remove any person holding any
office or employment, or commission, civil or miiitay,
under the said company in India.
The Court of Directors of the company are also em-
powered to remove or dismiss any of the officers or ser-
vants of the said company at their will and pleasure.