The Company's nominal profits in the 18th century were very high ; but as their trade was conducted in a costly way, and was bur dened with military charges, it yielded little real profit. Private traders have always been able to outbid the Company, when allowed to compete. Thus, in the 20 years from 1813 to 1833, the value of goods exported by the pri vate trade increased from about 1,000,0001. sterling to 3,979,9721., while the Company's trade fell from 820,5581. to 149,1931. The impossibility, as thus shewn, of the Com pany's entering into competition with private merchants had a powerful influence with par liament; and in the charter of 1833 the Com pany was confined altogether to the territorial and political management of its vast empire. The dividend guaranteed by the act of 1833 is 650,0001., being 10i per cent. on a nominal capital of 6,000,0001. The dividends are chargeable on the revenues of India, and are redeemable by parliament after 1817.
The following table is given, in the defi ciency of official returns, merely as an approxi mation, in order to afford such a general view as may be useful, though not accurate, of the areas and population of the territories of Hin dustan Such is the immense territory whch is vaguely known to us as the East Indies. Com merce between India and the western nations of Asia appears to have been carried on from the earliest historical times. The spicery, which the company of Ishmaelites mentioned in Genesis were carrying into Egypt, must in all probability have been the produce of India; and in the 30th chapter of Exodus, where an enumeration is made of various spices and perfumes, cinnamon and cassia are expressly mentioned, which must have come from India or the islands in the Indian Archipelago. This trade appears to have been carried on by means of the Arabs. Indian articles were also brought from the Persian Gulf to Phoenicia, and Europe was thus sup plied with the produce of India.
The produce of India was also imported into Greece by the Phconicians in very early times. Many of the Greek names of the Indian articles are evidently derived from the Sanskrit. The western nations of Asia appear to have had no connection with India, except in the way of commerce, till the time of Darius Hystaspes. The expedition of Alex ander into India first gave the Greeks a cor rect idea of the western parts of India, and paved the way for a further extension of Indian commerce. After the foundation of
Alexandria in Egypt, the Indian trade was almost entirely carried on by the merchants of that city. We may form some idea of the magnitude of the Indian trade under the em perors by the account of Pliny, who informs us that the Roman world was drained every year of at least fifty millions of sesterces (up wards of 400,0001.) for the purchase of Indian commodities. The articles imported by the Alexandrian merchants were chiefly precious stones, spices and perfumes, and silk. Alex andria supplied the nations of Europe with Indian articles till the discovery of the pas sage round the Cape of Good Hope by Vasco de Gams in 1498. But the western nations of Asia were principally supplied by the mer chants of Basra, which was founded by the caliph Omar, near the mouth of the Euphrates, and soon became one of the most flourishing commercial cities in the East. In addition to this, a land trade, conducted by means of cara vans which passed through the central coun tries of Asia, existed from very early times between India and the western nations of Asia.
The modern commerce of India has taken many fresh directions. Nearly all that depends on the East India Company is transacted at the three ports of Calcutta, Madras, and Bom bay. The native merchants in the north west of India carry on a large inland trade to Persia, Bokhara, Siberia, and other Asiatic countries. In respect to Great Britain, the exports of British manufactures to India in 1849 amounted in value to nearly 7,000,0001. In respect to the imports from India into Great Britain in 1848, the following will give an idea of the principal commodities and quantities : Cassia .. 40,000 lbs.
Cloves .. 60,000 lbs.
Coffee 33,000,000 lbs.
Indian cottons .. 120,000 pieces Gums .. 30,000 MIS.
Hemp .. 260,000 cwts.
Hides .. .. 70,000 cwts.
Indigo .. 60,000 cwts.
Mace .. 40,000 lbs.
Senna .. 800,000 lbs.
Silk 800,000 lbs.
Silk goods .. 300,000 pieces Skins and Furs .. 60,000 Rum .. 900,000 gallons.
Sugar .. 1,400,000 cwts.
Cotton has hitherto been exported from India only in small quantity ; but strenuous exertions are now being made to extend the culture. The other chief products are noticed in the above list. Other commercial and in dustrial details will be found under the names of the chief countries and cities, such as BEN