Home » Englands Debt to India: A Historical Narrative of Britains Fiscal Policy in India by LAJPAT RAI
Englands Debt to India: A Historical Narrative of Britains Fiscal Policy in India LAJPAT RAI

Englands Debt to India: A Historical Narrative of Britains Fiscal Policy in India

LAJPAT RAI

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Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free.This is an OCR edition with typos.Excerpt from book:CHAPTER II INDIA AND THE BRITISH INDUSTRIAL REVOLUTION I BeforeMorePurchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free.This is an OCR edition with typos.Excerpt from book:CHAPTER II INDIA AND THE BRITISH INDUSTRIAL REVOLUTION I Before Flossy. That India played a very definite / part in the success of the British Industrial Revolution, is a fact almost universally acknowledged- yet how great a part India played in making for the industrial and economic prosperity of Great Britain is known to very few. It is our purpose to discuss that point in this chapter. Let us consider first the respective economic positions of India and England at the time when the Industrial Revolution was brought about by the invention of the steam engine and of mechanical contrivances for the spinning and weaving of cloth. We have already given the reader an idea, in the introductory chapter, of the economic prosperity of India in pre-British days. In the seventeenth and eighteenth centuries, India had enormous wealth- the treasuries of her rulers were full of money, bullion and precious stones of fabulous value- her industries and manufactures flourished, and she exported large quantities of goods in return for payment in gold and silver. Her trade with Asia, Europe and Africa was extensive, and she made enormous profits from the sale of her manufactured goods. Her cotton muslins, manufactured silks, woollen shawls, brass and bronzeshad made her famous, all through Asia and Europe. For centuries, the maritime nations of Europe had been trying to find a sea route to India in order to profit by trading with her and possibly with the motive of eventually conquering her. The discovery of America was only an accident. The goal which Columbus had in view was India. It is well known how, after Columbus, the Dutch and the Portuguese navigators kept up their search for a sea route to India until the efforts of Vasco da Gama bore fruit when he discovered the rou...