HIST 351 Lecture Notes - Lecture 3: Making Money, Renews-Cappahayden, East India Company
Document Summary
Ben was the only representative for 2. 5 million colonists in parliament. Letter to lord kames showing was not inevitable. If he wanted colonies to be great he had to encourage them. How did ben"s pride turn to prejudice. Precedent, colony mistreated and taken advantage of. One of the rst corporations in human history. Monopoly on all english trade to india for 15 years under queen elizabeth. Legit traders had to be a member of the eic. Get money in 2 ways: tax revenue, cash exchange. To facilitate trade the eic established permanent facilities in india. This helped guarantee products at fair prices for pro t. Factors worked in india and came back as very wealthy nabobs . In its heyday it was the most pro table corporation in the world. Because parliament is most closely tied to it, they had to promote its success in order not to fail with it. What happens in india, stays in india .
