Abbildungen der Seite
PDF
EPUB

Pieces.

£.

perior kinds from Germany and France. aise, aisement, ease) is defined by the old Even till nearly the close of the century the law writers as a service or convenience porcelain of China was still in common which one neighbour hath of another by use on the tables of the wealthy, as the charter or prescription without profit; as home manufacture, generally speaking, a way throngh his ground, a sink, or the had not established its reputation. The like. It includes rights of common, ways, improvement of the earthenware manu water-courses, antient lights, and various facture originated with Mr. Wedgwood, other franchises, issuing out of corporeal who carried it to great perfection. He hereditaments, and sometimes, though inavailed himself of the services of artists accurately, the term is applied to rights and men of taste; and by this association of common. of the manufacture with the fine arts it At the common law these rights (which has been still further improved.

can only be created and transferred by In the five years from 1831 to 1835, deed) might be claimed either under an the declared value of earthen manufac- | immemorial custom or by prescription; tures exported gradually rose from but twenty years' uninterrupted and unex461,0901. in 1831 to 540,4211. in 1835. plained enjoyment of an easement formerly The value of the exports to the United constituted sufficient evidence for a jury States of North America in 1835 was to presume that it originated in a grant 246,2201. The number of pieces of by deed ; except in the city of London, earthenware exported and the real value where the presumption of a grant from of the same for the last four years were twenty years' possession of windows was as under :

excluded by the custom which required

that there should exist “some written 1841 53,150,903 600,759

instrument or record of an agreement.” 1842 52,937,454 555,430

Nonuser during the same period was also 1843 55,597,705 629,148

considered an extinguishment of the right, 1844

751,279

as raising a presumption that it had been The countries to which the largest qnan- released. tities were exported in 1842 were as fol By the statute 2nd & 3rd William IV. lows:

cap. 71, several important alterations have

£. been made with regard to this description United States of North America 168,873 of property: forty years' enjoyment of Brazil

38,976 British North America

any way or other easement, or any water

35,152 course, and twenty years' uninterrupted Germany

31,445

"access and use of any light to and for East India Company's territo

any dwelling-house," &c., now constitute ries and Ceylon

28,891

an indefeasible title in the occupier, unless British West Indies

26,155 he enjoys “by some consent or agreement Holland

24,645 expressly given or made for that purpose Cuba and Foreign West Indies 18,024 by deed or writing.” The same statute also Italy and Italian Islands

17,201

enacts that nonuser for the like number of Rio de la Plata

15,916

years (according to the description of the Chili

14,414 Denmark

particular right) shall preclude a litigat

12,434 ing party from establishing his claim to it. Peru

11,421

The easements of the English correSumatra, Java, and Indian Ar

spond to the Servitutes of the Roman and chipelago.

11,198 the Servitudes of the French law. (Code The earthenware manufacture in France Civil, liv. ii. tit. 4, Des Servitudes ou is far inferior to that of England. (M-Gre- | Services Fonciers.) gor's Statistics.) In the United States The Roman Servitutes comprehended of North America, the number of pot- those rights which a man had in the proteries in 1840 was 659; but no earthen- perty of another, and in a corporeal thing. ware is exported.

The subject of easements forms a large EASEMENT (from the French words head in the Roman Law, which was so far

.

[ocr errors]
[ocr errors]

.

[ocr errors]

elaborated as to form a basis on which mo At this time the trading of the company dern decisions may repose. The title De was not confined to the joint stock of the Servitutibus in the eighth book of the Di- corporation, but other adventurers were gest contains the chief rules of Roman law admitted, who subscribed the sums reon this subject, which have been discussed quired to complete the lading of the by various modern writers, as Mühlen- ships, and received back the amount, tobrach, Doctrina Pandectarum, p. 268, gether with their share of the profits, at &c.; Savigny, Das Recht des Besitzes, the termination of every voyage. p. 525, 5th ed.; Dirksen, Zeitschrift für The charter of the Company was reGeschichtliche Rechtswissenschaft, vol. newed for an indefinite period in 1609, ii.; Puchta, Cursus der Institutionen, ii. subject to dissolution on the part of the 739, &c.

government upon giving three years' noEASTER OFFERING. [OFFER- tice to that effect. INGS.]

In 1611 the Company obtained permisEAST INDIA COMPANY. This sion from the Mogul to establish factories association originated from the subscrip- at Surat, Ahmedabad, Cambaya, and tions, trifling in amount, of a few private Goga, in consideration of which perindividuals. It gradually became a com- mission it agreed to pay to that sovereign mercial body with gigantic means, and an export duty upon all its shipments at next, by the force of unforeseen circum- the rate of 34 per cent. stances, assumed the form of a sovereign After 1612 subscriptions were no longer power, while those by whom it was di- | taken from individuals in aid of the rected continued in their individual ca- joint-stock capital, which was raised to pacities to be without power or political 420,0001., and in 1617-18 a new fund of influence, thus presenting an anomaly | 1,600,0001. was subscribed. This last without a parallel in the history of the capital, although managed by the same world.

directors, was kept wholly distinct from The Company was first formed in Lon- the former stock, and the profits resulting don in 1599, when its capital, amounting from it were separately accounted for to to 30,0001., was divided into 101 shares. the subscribers. In 1600 the adventurers obtained a char The functions of government were first ter from the crown, under which they exercised by the Company in 1624, when enjoyed certain privileges, and were authority was given to it by the king to formed into a corporation for fifteen years, punish its servants abroad either by civil with the title of The Governor and or by martial law, and this authority was Company of Merchants of London trading unlimited in extent, embracing even the to the East Indies.” Under this charter power of taking life. the management of the company's affairs In 1632 a third capital, amounting to was intrusted to twenty-four members of 420,7001., was raised, and its management, a committee chosen by the proprietors although confided to the same directors, from among their own body, and this was also kept distinct from that of the committee was renewed by election every first and second subscriptions. It is unyear.

certain whether the capitals here severally The first adventure of the association mentioned were considered as permanent was commenced in 1601. In the month investments, or were returned to the subof May of that year five ships, with car- scribers at the termination of each difgoes of merchandise and bullion, sailed ferent adventure. from Torbay to India. The result was A rival association, formed in 1636, encouraging, and between 1603 and 1613 succeeded in obtaining from the king, eight other voyages were performed, all who accepted a share in the adventure, a of which were highly profitable, with the licence to trade with India, notwithstandexception of the one undertaken in the ing the remonstrances of the chartered year 1607. In the other years the clear body. After carrying on their trade for profits of the trade varied from 100 to several years in a spirit of rivalry which 200 per cent. upon the capital employed. I was fatal to their prosperity, the two

bodies united in 1650, and thence forward At the close of the seventeenth century carried on their operations under the the three presidencies, Bengal, Madras, title of “ The United Joint-Stock." and Bombay, were distinguished as they

In 1652 the Company obtained from the still are, but it was not until 1773 that Mogul, through the influence of a medical Bengal became the seat of the supreme gentleman, Mr. Boughton, who had per government. formed some cures at the Imperial Court, The first occasion on which the Compathe grant of a licence for carrying on an ny was brought into hostile collision with unlimited trade throughout the province any of the native powers of India occurred of Bengal without payment of duties. in the beginning of 1664, when Sevajee, the

Some proprietors of the Company's founder of the Maharatta States, found ocstock, becoming dissatisfied with the ma- casion, in the prosecution of his plans, to nagement of the directors, obtained from attack the city of Surat. On this occasion Cromwell, in 1655, permission to send the native inhabitants filed; but the memtrading vessels to India, and nominated bers of the British factory, aided by the a committee of management from their crews of the ships in the harbour, made a own body, for which they assumed the successful resistance, and forced Sevajee title of «The Merchant Adventurers." to retire. To show his satisfaction at The evils to both parties of this rivalship the conduct of the Europeans upon this soon became apparent, and in about two occasion, the Mogul accompanied the exyears from the commencement of their pression of his thanks with an extension operations the Merchant Adventurers of the trading privileges enjoyed by the threw their separate funds into the gene- Company. Another attack made upon ral stock under the management of the Surat by the Maharattas in 1670 was redirectors. On this occasion a new sub- pelled with equal success. scription was raised to the amount of The right given to the Company by the 786,0001. In April, 1661, a new charter charter of 1661 of seizing unlicensed per was granted to the Company, in which all / sons within the limits above mentioned, its former privileges were confirmed, and and sending them to England, was exerthe further authority was given to make cised in a manner which, in 1666, prom peace or war with or against any princes duced a very serious dispute between the and people “not being Christians;” and two houses of parliament. to seize all unlicensed persons (Euro For several years following the juncpeans) who should be found within the tion with the Merchant Adventurers about limits to which its trade extended, and | 1657, the trade of the Company was carto send them to England.

ried on without any serious rivalry, and The first factory of the English was at with considerable success. Sir Joshua Bantam, in Java, established in 1602. Child, who was one of the directors of In 1612 the Mogul granted certain pri- the Company, in his ‘Discourses on vileges at Surat, which was for a long time | Trade,' published in 1667, represents that the centre of the English trade. In 1639 trade as the most beneficial branch of permission was obtained to erect a fortress English commerce, employing from at Madras. In 1652 the first footing was twenty-five to thirty sail of the finest obtained in Bengal through the intluence merchant ships in the kingdom, each of Mr. Boughton, as already mentioned. manned with from sixty to one hundred In 1668 the Company obtained a further seamen. settlement on the western coast of the In 1677-78 the whole adventure of peninsula by the cession in its favour of the Company to India was 7 ships, with the island of Bombay, made by Charles an investment of 352,0001. In 1678II., into whose hands it had come as part 79 the number of ships was 8, and the of the marriage portion of the Princess amount employed 393,950l. In 1679Catherine of Portugal. At the same 80 there were despatched 10 ships with time the Company was authorized to cargoes valued at 461,7001. In 1680-81, exercise all the powers necessary for the 11 ships, with the value of 596,00 01.; and defence and government of the island. in 1681-82 there were 17 ships employed

and the investment amounted to 740,000l. ment to new adventurers, many of whom,

In 1682-83 a project was set on foot acting individually, began to trade with for establishing a rival company, but it India; but a still more formidable rival failed to obtain the sanction of the go- arose in a powerful association of mervernment. As one means for discouraging chants, whose means enabled them to outsimilar attempts in future, the Company bid the old Company for the favour of ceased to give any detailed statements the government. The old Company, concerning the amount of the trade. This which had now been in existence nearly caused the public to entertain an exag- a century, was dissolved, and three years gerated opinion concerning it, and were allowed for winding up its business. tempted many private adventurers to set in 1700 the old Company obtained an the regulations of the Company at de- act which authorized them to trade under fiance. These interlopers, as they were the charter of the new Company, of which called, were seized by the Company's privilege it availed itself to the amount officers wherever they could be found, of 315,000l. The existence of two tradand under the pretext of piracy or some ing bodies led to disputes which beneother crimes, they were taken before the fited neither. In 1702 an act was passed Company's tribunals. Sentence of death for uniting them, and seven years were was passed upon several, and the Com- allowed for making preparatory arrangepany boasted much of the clemency that ments for their complete union. Before was shown in staying execution until the the expiration of these seven years variking's pleasure could be known; but they ous differences which had arisen between kept the parties meanwhile in close con- the two bodies were settled by reference finement.

to Lord Godolphin, then Lord High TreaA new charter, to have effect for twenty- surer, whose award was made the basis of one years, was granted in 1693, in which the act 6 Anne, c. 17, which was the it was stipulated that the joint-stock of foundation of the privileges long enjoyed the Company, then 756,0001., should be by the Company. The united bodies raised to 1,500,0001., and that every were entitled “ The United Company of year the corporation should export British Merchants of England trading to the produce and manufactures to the value of East Indies ;" a title which was continued 100,000l. at least. The power of the until 1834. crown to grant the exclusive privileges The capital stock of the Company, given by this charter was questioned by which in 1708 amounted to 3,200,0001., the House of Commons, which passed a was increased, under successive acts of par. declaratory resolution to the effect “ that liament, as follows:-in 1786, 800,000l.; it is the right of all Englishmen to trade 1789, 1,000,000l. ; 1794, 1,000,000l. ; makto the East Indies, or any part of the ing its total capital 6,000,000l.; and upon world, unless prohibited by act of par- this sum dividends are now paid : the liament.” The House of Commons di- later subscriptions were made at rates rected an inquiry to be made into the considerably above par, so that the money circumstances attending the renewal of actually paid into the Company's treathe charter in 1693, when it was ascer- sury has been 7,780,000l. tained that it had been procured by a The home government of the Company distribution of 90,000l. amongst some of consists of—Ist. The Court of Propriethe highest officers of state. The duke tors; 2nd. The Court of Directors; and of Leeds, who was charged with receiving 3rd. The Board of Control, the origin and 50001., was impeached by the Commons; functions of which body will be hereafter and it is said that the prorogation of par- explained. liament, which occurred immediately The Court of Proprietors elect the diafterwards, was caused by the tracing of rectors of the Company, declare the the sum of 10,000l. to a much higher amount of dividend, and make bye-laws, quarter.

which are binding upon the directors for The resolution of the House of Com- the management of the Company in all mons just recited, acted as an encourage- respects which are not especially regu

lated by act of Parliament. The votes of principal secretaries of state are, by virtue the proprietors are given according to of their office, members of the board. the amount of stock which they possess. By an act passed in 1793 it is no The lowest sum which entitles a proprie- longer necessary to select the members tor to vote is 10001. of stock ; 30001. stock from among privy councillors. In pracentitles to two votes; 60001. to three tice the senior member, or president, votes; and 10,000l. to four votes, which ordinarily conducts the business, and on is the largest number of votes that can be rare occasions only calls upon his colgiven by any one proprietor. In 1825 leagues for assistance. It is the duty of the number of proprietors entitled to vote this board to superintend the territorial was 2003; in 1833 the number was 1976; or political concerns of the Company; to and in 1843 there were 1880; of whom inspect all letters passing to and from 44 were entitled each to four votes, 64 India between the directors and their had each three, 333 had two votes, and servants or agents which have any con1439 had single votes. In 1773, when nexion with territorial management or all owners of stock amounting to 5001. political relations; to alter or amend, or had each one vote, and none had a plura- to keep back, the despatches prepared by lity, the number of proprietors was 2153. the directors, and, in urgent cases, to

The Court of Directors consists of 24 transmit orders to the functionaries in proprietors elected out of the general India without the concurrence of the dibody. The qualification for a seat in the rectors. In all cases where the proceeddirection is the possession of 20001. stock. ings of the directors have the concurSix of the directors go out of office every rence of the Board of Control, the court year; they retire in rotation, so that the of proprietors has no longer the right of term of office for each is four years from interference. The salaries of the presithe time of election. The directors who dent and other officers of the Board, as vacate their seats may be re-elected, and well as the general expenses of the estagenerally are so, after being out of office blishment, are defrayed by the East India for one year.

The chairman and deputy Company. chairman are elected from among their The act 6 Anne, c. 17, already menown body by the directors, thirteen of tioned, conferred upon the Company the whom must be present to form a court. exclusive privilege, as regarded English

The power of the directors is great: subjects, of trading to all places eastward they appoint the governor-general of of the Cape of Good Hope to the Straits India and the governors of the several of Magalhaens; and these privileges, presidencies; but as these appointments with some unimportant modifications, are all subject to the approval of the which it is not necessary to explain, were crown, they may be said to rest virtually confirmed by successive acts of parliament, with the government. The directors and continued until 1814. By the act have the absolute and uncontrolled power 53 Geo. III. c. 155, passed in 1813, the of recalling any of these functionaries; Company's charter was renewed for and in 1844 they exercised this power twenty years, but received some important by recalling Lord Ellenborough, the go- modifications, the trade to the whole of vernor-general. All subordinate appoint- the Company's territories and to India ments are made by the directors, but, as a generally being thrown open to British matter of courtesy, a certain portion of subjects under certain regulations; the this patronage is placed at the disposal of trade between the United Kingdom and the President of the Board of Control. China was still reserved as a monopoly in

The Board of Control was established the hands of the East India Company. It by the act of parliament passed in Au was also provided by the act of 1813 that gust, 1784, and which is known as Mr. the territorial and commercial accounts Pitt's India Bill. This board was ori- of the Company should be kept and arginally composed of six privy councillors, ranged so as to exhibit the receipts and nominated by the king; and besides these, expenditure of each branch distinctly the chancellor of the exchequer and the I from those of the other branch.

« ZurückWeiter »