Empire Topic 5 - India Flashcards
How much did EIC pay to government each year?
£40,000 to maintain monopoly.
When was the Regulating Act?
1773
Why did Government pass Regulating Act?
- EIC were failing to pay annual payments.
- EIC owed money to Bank and Government, 15million pounds of tea rotting in warehouses.
- Government needed to exert control over EIC to protect investment and trade in India
What did the Regulating Act do?
Limited company dividends to 6% until it had paid £1.5million loan.
When was the Tea Act?
1773
What did the Tea Act do?
EIC had no tariffs when selling tea in America.
What changes to EIC management of India happened in 1773?
Created a council of 5 (2 from EIC and 3 from parliament) in Calcutta. All governors had to be appointed by a council of 4 (nominated by the crown).
When was Pitt’s India Act?
1784
What did Pitt’s India Act do?
Made the EIC subordinate to the crown and set up a regulatory Board of Control to help control the EIC.
Who sat on the Board of Control?
The Chancellor of the exchequer, secretary of state for India and 4 privy councillors.
What other change happened in India in 1786?
The governor had executive power only at discretion of the crown.
How much money per year did war cost during the AWOI?
£12 million
How much debt was Britain in when the AWOI ended?
£243 million
How much money went to paying off interest each year?
1/3 of the budget of £24 million
How did Pitt reduce debt?
- Instituted a sinking fund in 1786 so that £1 million a year was added to the fund to accumulate interest.
- Lowered tariffs on easily smuggled items like tea, wine, spirits and tobacco so more paid them, raised customs revenues by £2 million a year.
What was debt at by 1792?
£170 million
What was the Global Context of Pitt’s India Act?
The previous monetary issues meant the UK needed to exert increased control over endeavours in India in order to make more money.
How many presidencies did the EIC govern from and what were they?
3, Bengal, Madras and Bombay.
Context of the Presidencies
Each had it’s own army, but following the 1786 Amendment Act Bengal was seen as most important and superceeded other presidencies.
When was the Charter Act?
1813
What did the Charter Act do?
- Extended EIC charter for 20 more years but removed it’s monopoly in India.
- Led to acquisition of Singapore in 1819
- Asserted Crown’s sovereignty over India and allotted 100,000 rupees annualy for improvement of literary and scientific knowledge.
- Opened up India to missionaries.😉
What was the Role of the Governor in administering India.
- Governor controlled other presidents.
- After 1833 Act Lord Bentick became new governor general who had full foreign policy powers and admin over all company areas.
- Slow communication meant governors had more power as London couldm’t exercise power from a distance.
- From 1833 took on complete authority over all British territories.
State of Army in India 1820s?
3 private armies with 20,000 men each, divided into white and sepoy regiments.
Composition of Army by 1857?
Out of 277,746 soldiers only 45,552 were British.