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inquiries, both as to the object and extent of the Company's authorised preference, and hazard an opinion as to the best arrangement under the prefent act to collect the investment and maintain legalized monopoly.

Investment of Piece Goods.

In the first place, it is admitted univerfally, that without advances to the manufacturer no goods can be obtained; the money advanced to the weaver is in great part advanced by him to the fpinner, who cannot obtain cotton without advancing to the farmer; what is retained by the different people is to enfure fubfiftence by cropping their land, or by purchafing rice; thus the advance for manufucture, in fact, influences the general profperity of the country: when they are not made in time, the weaver cannot affort his thread, which he would wish to do by letters for warp and woof; and private merchants, British or foreigners, wait the Company's advances, left the Company fhould feize from the

looms whatever goods they found, whether they were begun on the Company's advances or not, therefore if they ventured to make advances, they ftrengthened themfelves on the privileges of foreign companies or on the privileges of English fubjects; and thefe bickerings were often magnified by their tranfit to Europe into great national queftions, or became fubjects of declamation or of crimination. The various fyftems of management by which the investment has been collected did not so defective in principle as in pracappear tice; too much depended on the individual ability and honefty of the Company's agent. In the end of 1786, I was introduced to Mr. Smith, a gentleman who had managed a district of weavers according to his own way, and the hafty minutes of a converfation on that fubject, he obligingly put on paper at the time, were literally as follows:

"The advances are made in fpecie (nominal) of the district, in which there is always a loss; this might be rectified by establishing only one coin throughout the

provinces. At the period of advancing, the weavers were affembled at the washing or head factory of each divifion, and there paid their advance, having at the fame time delivered to them a paper, called Handbill, as their account current, in which they were debited for the fum paid them, and which they acknowledged afterwards to the perfon keeping the English accounts, who checked off; they alfo at the fame time acknowledged their balance of the former year, and if they had fuffered any grievances, then stated them. After this check they went home, and as they delivered their cloth, received a depofit receipt from the Gomaftah of the division; when their cloth was valued at the washing factory, their account could be made up; frequently the cloths were returned, being. too bad. Previous to the valuation of any cloth for the year, a meeting, by order, was held at the head factory of all the weavers, that is, each divifion fent two, three, or four, as they pleafed, to reprefent them; they were generally two days adjusting the price of the cotton thread, endeavouring to obtain as large an allow

ance as they could, although they ought to have had the real and true price only; in this article they were always gainers confiderably. The price of the thread adjufted, the whole was completed, and the paper was drawn out ftating particulars; thus the value of each piece was ascertained, the weight, length, breadth, and number of threads conftituting that breadth were fet down, and the price of the cotton per Seer; to this was added the fixed price allowed for weaving each piece, and the true price of the best piece that could be made was fettled. The weavers then endeavour to impofe: I have known one fixth, nay one fifth, of the number of threads deficient, confequently the piece must be inferior; for the valuation I employed brokers, at an allowance per piece, and they valued in the presence of all who chose to attend; fome weavers were always prefent; they made a proportionate value of A, B, C, D, &c. thus they could do their business with eafe and expeditiously. I am clear, if the Company adopted this mode throughout their whole provision of investment, that they would pro

cure in general better goods and cheaper, after allowing their agent commiffion of 5 per cent. in coft and charges, and 1⁄2 per cent. for loffes, as fome muft happen and balances acrue, the agent fwearing he will not act otherwife than for the advantage of the Company, to the best of his ability. I apprehend the difference between the Company advancing themfelves through factors to the weavers on a 5 per cent. commiffion, payable at the end of each year, would be a gain of 10 per cent. to them, because contract includes charge, coft, and profit; providing through agents, produces a larger quantity of goods from the weavers for the proportionate amount, and the charges are monthly only, the 10 per cent. profit is therefore an extra quantity of goods., The fame fixed fervants for the provifion of 30,000 picces of investment can get up 5 lacks, the eftimate therefore is thus: 5 lacks at 3 rupecs cóft in a medium from the weaver, and 1 rupee charges for fervants, repairs, profits, tranfportation, &c., is 4 rupees a piece, making 125,000 pieces in contract: now, I imagine that 60,000 rupees would do for all

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