India’s contribution to the British balance of payments, 1757–1812

Cuenca-Esteban, Javier

doi:10.1016/j.eeh.2005.10.007

Cited by 16 publications

(9 citation statements)

References 27 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Bowen extends this theme by charting the careers of the elite commanders of East Indiamen between 1760 and 1813 who were instrumental in forging connections between Europe and Asia and who were engaged in lucrative private trading activities within the monopolistic structure of their employer. Cuenca‐Esteban argues, contrary to some recent scholarship, that the East India Company was effective in serving the national interest during the French Wars. Prakash, meanwhile, examines the trading networks of English merchants in the Western Indian Ocean in the 1720s and 1730s based on the private papers of the Governor of Bombay.…”

Section: (Iv) 1700–1850 Peter Kirby University Of Manchestermentioning

confidence: 60%

Review of periodical literature published in 2007

Pratt¹,

Schofield²,

French³

et al. 2009

The Economic History Review

View full text Add to dashboard Cite

Section: (Iv) 1700–1850 Peter Kirby University Of Manchestermentioning

confidence: 60%

Review of periodical literature published in 2007

Pratt¹,

Schofield²,

French³

et al. 2009

The Economic History Review

View full text Add to dashboard Cite

“…So-called 'Indian remittances', in form of credit money available in Canton, were used to purchase Swedish return cargoes. In such a way the Swedish company, together with other chartered companies, contributed to British exploitation of India after the Seven Years War (Cuenca-Esteban, 2007;Hanser, 2019). The Swedish company also used neutrality for commercial purposes.…”

Section: Outline Of the Articlementioning

confidence: 99%

Swedish East India trade in a value-added analysis, c. 1730–1800

Rönnbäck

Müller

2020

Scandinavian Economic History Review

View full text Add to dashboard Cite

The narrative of the Swedish East India Company (SEIC) is a well-known part of Sweden's eighteenth century history. The company is known as a profitable venture, the only successful chartered company in Sweden, but with a limited impact upon the country's economic development. In this paper, we employ a value-chain analysis to estimate the Swedish East India trade's magnitude in terms of value-added. The results show that the success of the company was not based on monopolised domestic market in Sweden, a typical strategy of big chartered companies. The most valuable line of SEIC's business (Chinese teas) was rather based on re-exports to other countries in Europe. Our quantitative estimates also show that the Swedish East India trade eventually made up a non-negligible share, and in particular a major share of the transport and trade sectors, of the Swedish economy during a long part of the eighteenth century.

show abstract

“…Buchanan Hamilton, not given to making exaggerated estimates, has put the figure of total drain from Bengal over 1757–1780 as £34.5 million; Sinha estimated it as £38.5 million. Cuenca Esteban () estimated an annual average of net outflows from India to Britain over 1793–1807 as £3,354,000. This does not consider another £1 million or more that the East India Company used of the revenues of Bengal and Bihar to conquer other parts of India.…”

Section: Introductionmentioning

confidence: 99%

“…Indian surpluses also played a vital part in balancing the British balance of payments in the Anglo‐French wars of 1792–1815. Cuenca Esteban () estimated India's contribution to be £16,570,000 over 1,793–1807, £11,340,000, and £62,290,000 over the whole period 1765–1812.…”

Section: Introductionmentioning

confidence: 99%

Colonialist primitive accumulation

Bagchi

2019

Journal of Labor and Society

View full text Add to dashboard Cite

The concept of primitive accumulation was formulated by Marx in his magnum opus, Capital, Volume I. Actually, it should have been translated as “primary accumulation” as Marx probably intended. Because there is nothing primitive about the capitalists' accumulation process, it goes on so long as capitalism lasts. When capitalism was making its debut, especially in relatively large states such as England, the Netherlands, and France, primary accumulation was taking place along two trajectories, with land and labor playing a central role in both cases. At home, people were being thrown out of their lands by various devices such as legal enclosure measures, so as to use the land to yield more profit for capitalist landlords and to drive them into factories. This process started in England in the sixteenth century and spread to most Western European countries in the nineteenth century. Abroad it consisted of grabbing other peoples' lands and turning the previous owners into wage workers or virtually turning them into slaves. Alternatively, where there was a large peasant population, the conquering power extracted as much surplus value from the subjects as it could, very often not even leaving them with their subsistence requirements and causing large‐scale famines. In relation to India, which had a large artisanal population and which was the largest exporter of cotton textile down to the 1780s, the English East India Company used that artisanal populace as another base of exploitation. In the Western hemisphere until capitalism came to its full flowering in the last quarter of the nineteenth century in the United States, Canada, and Australia, genocide of the indigenous population was the principal instrument for grabbing their land and all the resources attached to it.

show abstract

India’s contribution to the British balance of payments, 1757–1812

Cited by 16 publications

References 27 publications

Review of periodical literature published in 2007

Review of periodical literature published in 2007

Swedish East India trade in a value-added analysis, c. 1730–1800

Colonialist primitive accumulation

Contact Info

Product

Resources

About