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Originally the East India Company was a set of private Merchants settled in India for the purpose of Trade merely - The number of their Agents and other English Merchants amounted perhaps to their whole Military force, for many years did not exceed 1000. Europeans, these were the Scum and Refuse of this Country, the Officer of highest Rank was seldom a Major, generally a Lieutenant -- We had not a place of Security deserving the name of a Fortification -- We claimed no farther territorial Possessions than we could command with our great Guns, and beyond that protection we were under the deletion unclear /deletion [[add] control of an arbitrary [[/add] unjust, rapacious Government, who frequently obliged us to pay considerable sums for Peace, and harrassed our Trade with such Exactions as they thought proper to impose.

Since 1757. the Scene is changed the Company Civil Servants in India, the Free Merchants and other British Subjects are not less than 2000. the Military black and white about 65,000. of which 10,000. Europeans the Inhabitants (who may now be called Subjects) not fewer than 20,000,000. and the Revenues little short of £6,000,000. per Annum under proper Management.

The Laws and Charters calculated for the guidance of a limited Company of Merchants cannot be adequate to the Government of such an Empire.

The Court of Directors hold their Seats from year to year at the discretion of the Proprietors who have possessed £500. Capital Stock for Six Calendar Months previous to add the /add