Indian Antiquary Vol 62

SR No.: 032554
Original Sutra Author: N/A
Author: Richard Carnac Temple, Charles E A W Oldham, S Krishnaswami Aiyangar, Devadatta Ramkrishna Bhandarka
Publisher: Swati Publications
Publication Year: 1986
Total Pages: 450
Language: English
Classification: Book_English
File Size: 18 MB

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228
THE INDIAN ANTIQUARY
[ MAY, 1033
which many of the goods sent by Scattergood had arrived. On the South Sea scheme she remarked :
"Many of your friends wished you here that you might have ventured your fortune in the South Sea, but I think it is God's good providence you was not, for it has blown many up with good luck for a time, but at last proves such a bubble that many more will be totaly ruined by it. It is said that above forty men of qualaty is quite ruined by it. I had not anything to doe with it. I durst not venture it. For some time it raised the price of lands so that some people gave thirty, forty and fifty, nay, some sixty years purchase. These were the people that prospered by it, but now lands fall again. Sir Edward Hales is dead. I fear he was deep in the South Sea." Peter Godfrey also commented on the bursting of the South Sea Bubble :
“We have had some few men made very rich by stockjobbing, but thousands of familys ruined to do it, and we are now at a full stop in trade and in a very miserable way in stocks. I pray God bring us out of this sed dilemma."
Captain Peter Jackson also, writing from Ostend in 15 December 1720, attributed his failure to dispose of Scattergood's taffeta to the general depression," the fall of the South Sea Stock having made money very scarce on this side as well as yours."
Letters addressed to Scattergood and Harris, dated from Madras and elsewhere in India during the autumn of 1720, probably reached him in Canton at the end of that year, or at Malacca early in 1721, as did the letter which follows from Alexander Orme, which was dated in Fort St. George in August.
[119] GooD SIR,
Nothing material has happened since your departure but what you will be advised of by others. Govr. Hastings is confirmed from Europe and Mr. Ellwick has since that been suspended.(1) There has this year come out a good quantity of silver. The price is kept at 147. The French establishment you will hear of in China. There are two ships come to Ponticherry who have brought a large quantity of silver and gold.() The rumour of pirates will make your Bonita the securest ship in India, and to tell you my sentiments I beleive you will not readily quitt her. I beleive Mr. Hugonin designs the Jerusalem for his cousin and therefore I will endeavour to secure Mr. Wake for our intended voyage on the Lusitania,(3) in case you should keep the Bonita, but I doubt not you will communicate your resolutions to me by the Boone frigate,(*) since you will be able by your Europe letters to China to be acquainted with what you have to trust to. I take my passage on a French ship to the coast of Mallabar, which makes your money at respondentia securer than on the London.(5) I am now to advise you that I design the Lusitania shall go up as high as Surat, partly to raise some of the stock and likewise to procure proper goods for China, and shall find myself ob. liged to communicato my design of sending her to China to the owners hore; but I shall take care not to mention that you are concerned. This will prevent setting up another voyage, which else would be attempted. I wish you success in all your undertakings and beg you would be assured that no man shall be readier to serve you than good Sir, Your affecte. humble servant
ALEX: ORME. Fort St. George, August the 26, 1720.
(NOTES ON DOCUMENT No. 119.] (1) Francis Hastings assumed office as President of Fort St. George on 18 January 1719/20 wher Joseph Collet embarked for Europe, and was confirmed in that post by a letter from the Company of 19 December 1719 (Letter Book, vol. xvii), sent by the Mary which arrived on 8 July 1720. Nathaniel Elwick, a member of Council, was suspended on 8 August 1720 by Hastings, who complained of the "repeated affronta" received from him and alleged his incapacity to serve the Company (Fort St. George Consulta. tions and Diary 1720).
(8) At a consultation held at Fort St. George on 8 July 1720 it was reported that the prico of silvor had fallen considerably " by the Ostenders importing so much at Covelon and the French at Pondicherry,