By Indrajit Ray
ISBN-10: 1138807729
ISBN-13: 9781138807723
This booklet seeks to enlighten gray components of commercial historiography. even supposing Bengal industries have been globally dominant at the eve of the commercial revolution, no targeted literature is accessible approximately their later process improvement. a sequence of questions are serious about it. Did these industries decline through the spells of British commercial revolution? If definite, what have been their purposes? If now not, the overall interest is: On which advantages may perhaps these industries live to tell the tale opposed to the chances of the technological revolution? a radical dialogue on those matters additionally clears up one other zone of dispute on the subject of the prevalence of deindustrialization in Bengal, and the validity of 2 competing hypotheses on it, viz. i) the mainstream speculation of marketplace disasters, and ii) the neo-marxian speculation of imperialistic nation interventions.
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Extra resources for Bengal Industries and the British Industrial Revolution (1757-1857)
Example text
Although the Nawab's personal savings represented leakage of specie from circulation, his several expenditures did not. Second, the remittance to Delhi was not entirely in the form of specie; it was partly in specie and partly in bills. The remittance through bills did not represent leakage. Third, the above figure does not exclude the cost of revenue administration, and hence represented gross revenue. Money spent in this regard remained in circulation. To estimate the leakage of specie from circulation, therefore, we should take into account the net revenue, and then deduct from that account: (a) the remittance to Delhi in bills; and (b) the personal savings of the Nawab.
Verelst 1772: 86). Therefore the inflow of bullion from European sources, diminished significantly once the ownership of revenue and internal trade passed on to Europeans. 4). e. e. 85 million per annum). e. S. 81 million per annum. 56 million annually was remitted on average in specie and bills to Delhi, merchandise worth S. 81 million was exported from Bengal without any specie in exchange after 1757. 25 million per year during early colonial rule . Side by side with the drying up of the inward flow, some newer channels of outward flow emerged during early British rule.
He observes, [O]ne must also take into account the fact that while Surat was clearly the most important of the Indian ports receiving precious metals from West Asia, the Kanara and the Malabar ports on the west coast, and the Coromandel and the Bengal ports on the east coast also received specie from the region on a fairly regular, though limited, basis. : 63) But contemporary sources suggest otherwise. In the minutes of John Shore in 1789 we are told, Every information, from the time of Bernier to the acquisition of the Dewanny, shows the internal trade of the country, as carried on between Bengal and the upper parts of Hindustan, the gulf of Moro, the Persian Gulf and the Malabar Coast, to have been very considerable.
Bengal Industries and the British Industrial Revolution (1757-1857) by Indrajit Ray
by Daniel
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