Page:History of merchant shipping and ancient commerce (Volume 2).djvu/476

 accused of misconduct in India, consisting of a judge of each of the three chief law-courts in England, of five peers and seven members of the House of Commons, the last being chosen by lot at the commencement of each session. Although the Directors were left to superintend their shipping and commercial affairs, as they had hitherto done, the Board of Control exercised an indirect influence over their proceedings both at home and in India.

During the three years ending 1796, the value of the Company's exports of British produce and manufactures fluctuated from 928,783l. to 1,031,262l.; but this increase may be attributed mainly, if not wholly, to the great reductions which the Act of 1784 had effected in the duties on tea, and the vast increase which consequently took place in its consumption.

When, in 1796, the Company's charter was again renewed, the important provision was made that all his Majesty's subjects, residing in any part of his European dominions, were to be allowed to export to India any article of the produce or manufacture of the country where they resided, except military stores, ammunition, masts, spars, cordage, pitch, tar, and copper, and the Company's civil servants in India, as well as the free merchants resident there, were permitted to ship, on their own account and risk, all kinds of Indian goods, except calicoes, dimities, muslins, and other piece goods. But so jealous were the Directors of competition in their commercial operations, that they prevailed on the government to insert various clauses in the new charter whereby neither the merchants of India