Indian Antiquary Vol 62

Author(s): Richard Carnac Temple, Charles E A W Oldham, S Krishnaswami Aiyangar, Devadatta Ramkrishna Bhandarka
Publisher: Swati Publications

Page 403

MAY, 1933]
THE SCATTERGOODS AND THE EAST INDIA COMPANY
In March 1721 Scattergood was apparently again at Malacca, for there is an obligation from the " Captain Chinaman" to him at that place, dated the 15th of that month. Thero are, besides, letters addressed to him in March, May and June 1721 from Alexander and Stephen Orme (regarding the proposed voyage of the Lusitania to Surat), which seem to have reached him at Malacca. A later letter from Alexander Orme, dated Calicut, 9 July, is endorsed : " Received per pattamar 11th August." There is no indication of the place of receipt, but that Scattergood was at Canton on 11 August seems probable from the fact that he" bespoke " goods there on 1 September, and from that date there are various records of his transactions.
As in previous years, a large amount of correspondence was addressed to Scattergood individually (and to him and his late supercargo) by rolatives, friends and business acquaintances in England in the early part of the year. Laurence Lane, as did many others, wrote of the South Sea Scheme :
“This year has produced some very unaccountable turns in England. A damnd project of the South Sea Company has been sett on foot under pretence of paying off the nations debts, and instead thereof, by the wicked mannagement of the South Sea Directors, wee are all reduc'd to a very inolan. colly condition; must reforr you to all the gentlemen now going out for a particular account of the history thereof, being so large no volum can contain it."
The writer asked that the balance of my little adventure in your hands" might be sent him in gold," the profitts of Indian voyages being little better than common interest in England."
Francis Acton gave a further account of the universal depression caused by the bursting of the South Sea Bubble.
"I am sorry to heare the busines in India is in such a state as to make you either weary or unoasin in it. I wish I could give you anything to the contrary that might induce you to wish your solver amo[n]gst us. We have much outdon the frenzy began in France, and from us the contagion spread it selfo throw all our neigboring countrys to madnes and ruine, wheroin our good freinds and allios the Dutch, have had thoir full compliment. I thank God I am not much touched in this affairn and am sorry for the occasion of mentioning it. I fear you will have it from other hands that will speake more sencibly [feolingly)."
Gilbert Affleck and the Rev. James Wendey were also among those who bowailed the state of affairs in England and the latter supplied some pertinent remarks on the situation :
"We have had such a turn of affairs here as could never have been suppos'd to have happon'd among a thinking people in a cold climate. The French Missisippi project began the show : our South Sea follow'd; the Dutch took the hint and set up several projects : but all are alike involv'd in ono common calamity, and the publick credit of the three nations is not worth a groat.
The particular history of the South Sea Scheme would require a volume rather than a letter. But this you will have from the Europe commanders.
The Parliament are now hard at work and examining into the mismanagemont, or rather rogliary. of the Directors; and if ever a Parliamentary enquiry came to any thing, this is likely to be effectual i and if it is, the Directors, who had all the nobility and gentry attending every morning at their lover will be stript as bare as they have stript others."
Elihu Trenchfield reported his arrival in England and he also commentod on the state of Europe.
[123]
LONDON Janry. the 27th 1720 1 Dear Brother.
Mr. Horsmonden being bound for China(1) was willing to hazard this with him to meet you there, tho have very little hopes of it, since the Company has sent no early ships for Madrass to supply you with silver.