Introduction

Overlapping with the groundworks of Tea monopoly that had started its reign in the American
protectorate, British East India Company instituted the Bengal Government Opium Monopoly in
the year 1773. Its influx to Bengal seems to have been an association of the Arabs and Persians
moving to Bengal. As British, Dutch, French, and other nautical companies initiated selling
opium from Bengal, poppy production spread tremendously. In Bengal, the Opium monopoly
started its course with substantially zero defiance. The initiation of the political domination in the
late 1750s, sanctioned the colonial superpowers to assemble a colossal monopoly trade which
was administered by the state. The foundation of the government opium monopoly infrastructure
in Bengal advanced through a procedure of oppressive trials during the mid-1770s. British East
India Company were able to reign supreme with political authority after they conclusively
vanquished the multi-lateral force, including the French and the Mughal, during the Boxer War
in October 1764. With the conclusion of the battle they were able to fuse their absolute
domination in the opium trade. For their self-centered virtue of profits, neglecting the local
people, they engorged Opium trade for their own benefits.

Opium is a sedative tranquilizer, a psychedelic medication arranged from the juice of the opium
poppy. The most primitive reference of opium is found in the works of the Portuguese explorer
Pyres. Its influx to Bengal seems to have been an association of the Arabs and Persians moving
to Bengal. As British, Dutch, French, and other nautical companies initiated selling opium from
Bengal, poppy production spread tremendously. The east India organization made it a
syndication exchange in 1773. The state control of trade lasted until 1937, when its output was
legally limited.

Importance of the topic:

The Bengal Government Opium monopoly is an important topic to be embraced as it reflects the
humongous impact it engraved in the abode. The excavation of the revenue by the virtue of the
opium monopoly paved the glorious path of The East India company to maintain the cost of
imperialism. The topic enlightens us with the elements imbibed in our heads to maintain the cost
of imperialism extracting gigantic revenue more sorrowfully by embossing inhuman, exploitative
behavior towards the poppy cultivators. By inflicting excruciating torture, they squeezed revenue
not for the wellbeing of the people of Bengal but to become economically strengthened. The
topic paints a translucent picture why domestic sales was limited and the trade with China
escalated. The topic shows the twisted mindset of gaining own economic advantage while
putting the Bengal in a distressed and lowered stature which vividly portrays the political,
economic cortex of the East India Company while placing Bengal in a regressive ambience.

Description:

 Development of the Indo Chinese opium monopoly and rebellion of 1857:

In the same way as other different imposing business models, the syndication exchange opium
with China was viewed as amazingly rewarding by the East India Company. The opium
exchange was exceptionally worthwhile and was basic in paying for the expense of government
in India. Indian opium had an eccentric demand and had soaring income, particularly in the
eastern part of China.

After the invigorating attainment of Bengal Monopoly in 1773, the Company found a way to
magnify the manufacture and administer the opium. As the immediate control of the buying and
acquisition was vested with the company, it started to avert trafficking of opium from the
neighboring local states.

With the realization of the attainment of Rohilkhand in 1801 and the residue of the North
Western Provinces in 1803 in the control of the British Empire, the Bengal domination system of
syndication was prolonged to a much vast area. Subsequently with the conclusion of the third
Marahatta war the entirety of the Bombay region was under the sheer dominance of the British.
The company now had the opening to multiply its territory and thus taking swift procedures to
avert the rivalries it was up to now facing from Malawa opium.

The awful incursion of Opium and its wicked consequences caused agitation and fear
amongst the Chinese authorities. In 1830 the Chinese Emperor gave a proclamation
through which the individuals of China were admonished of the harmful impacts of opium.
They went to that degree that they declared death penalty to the individuals who smoked
or sold opium. The illegitimate Opium sale carried on amid India and China as opium
trafficking with the unswerving participation of the East India Company, revenues being
distributed between the members of the Company and the traffickers. Somewhere in the
range of 1842 and 1859 after the conclusion of the opium War, opium trades from India to
China magnified in swelled proportions.

The treaty of Tientsin resolved in 1860 was more demeaning for the Chinese than the former
Treaty of Nanking. The access and trade of opium was made legitimate by the Chinese with a
duty of 10 per cent. In this manner, the English had coercively brought opium into China against
the desires of the Chinese experts so as to heighten the proceeds of revenue of their Indian
domain. Indeed, even Indian community and papers weren’t indecisive for a second to denounce
this oppressive approach of the East India Company and the British Crown.

Amid the First Anglo-Chinese War and the culmination of the Company’s regime in India, the
profits expanded significantly from the imposing monopoly industry. At the hour of development
and improvement of the opium imposing business monopoly in Bengal from 1773 to 1856, the
financial stature of the poppy planters had deteriorated and pressures had ejected between the
neighborhood landlords and the foreign authorities. This contention helped in the possible
uprising of 1857, otherwise called the Indian 'Sepoy Mutiny'. While trying to additionally control
the private agronomy of opium poppies and the organized commerce in opium, the legislature
embraced the Opium Act of 1857.

 Sources of opium revenue:

After 1880, opium turned out to be less precarious to India's financial advantages in light of the
fact that different fares were created and opium included a diminutive extent in all out incomes
and fares. The Company additionally authorized arrangements that restricted utilization of opium
in India. The British got benefits from the opium exchange through the state-controlled
syndication in Bengal. Uniting the poppy developing area it was simpler to administer workers in
this way diminishing expenses of opium creation.

The second biggest wellspring of opium income was gathered through pass expenses. Since
British authorities were not engaged with the activity or creation of opium, the main expense
related with income was regulatory. The expense assortment was inconceivably productive with
exceptionally low costs, making incomes from pass charges a huge commitment to British
benefits.
The last wellspring of income was gathered through excise tax on the domestic deals of opium.
Benefits from the deals of local or internally sourced opium contributed the least to British
income.

 Britain's opium trade disadvantaged Indian opium farmers:

The opium trade was colossally exploitative and wound up ruining Indian workers. Interest free
installments were offered to poppy cultivators who couldn't retrieve simple credit. The workers
had to pay for lease, compost, water system and borrowed foreign workers, which was higher
than the revenues they extracted from the transaction of unprocessed opium. The price paid to
the peasants for their opium did not even shield the cost of nurturing and growing opium.

Resident landowners constrained their landless occupants to develop poppy; and workers were
additionally hijacked, captured and undermined with mindful damage of harvests, criminal
indictment and prison in the event that they wouldn't develop the yield.

Critical analysis:

My analysis goes,

 East India Company portrayed not so vivid picture on the canvas by contradicting their
own assertion promulgating the opium to be detrimental to health aligning it to be strictly
limited in Bengal whereas gigantically trading opium with China with the beneficial
notion of embracing the diminishment of trade deficit.

 The connection between opium income and the British Empire focuses to the degree
where opium incomes retained the expenses of government. Before the Second Opium
War, income from opium just secured British enthusiasm on its obligation which is
administering the state. After the war, opium income was sufficient to pay out a hefty
proportion of interests. Most of the incomes that adjusted the expense of dominion in
 India didn't come legitimately from India to Britain, but instead were advances from
exchange with China.

 Opium incomes were essential in diminishing the expense of government, yet what I
foreshadowed is, the British authorized different strategies to limit residential utilization
of opium and rather center all attention around exchange with China. From my economic
perspective, on the demand side, there was exacting guideline of licenses for merchants
to sell opium. A set number of licenses were allowed to merchants, hence constraining
the accessibility of opium and on the supply side, the East India Company fixed the retail
value endeavoring to find some kind of harmony between restricting utilization and
smuggling. According to my perspective it violated the concept of price Ceiling
encouraged black market.

 In the event that offering opium to India was regarded improper, at that point any deals of
opium to China should be considered morally indecent. In any case, the administration
was completely dedicated to the opium exchange with China, which debunked the
thinking introduced by anti-opium reformers.

 According to my analogy the superior reflection for why the British ignored to develop
the internal opium market, though integrating the Chinese opium market is that they
could en-clasp greater revenue in the same string with reducing the trade deficit
consolidating a better economic stature.

 My observation announces, it was significant for Britain to keep up the intensity of its
cash on the grounds that the quality and simplicity of convertibility of currency expanded
the interest for British products and ventures and hence added to Britain's financial force.

 Lastly, the peasants’ wages didn’t cover the cost of growing opium, on their abode the
economic equilibrium was not obtained, still inhuman torture compelled them to continue
producing which in my opinion was unacceptable from every dimension.
Conclusion

The British Empire were profited by the monetary openings and utilized the opium exchange to
support the expense of government while lessening its trade deficits with China and in so
reinforcing its economy. There is proof that there was an appeal for opium in India yet only all
the opium that was produced every year was offered to China. In view of Britain's monetary
thought processes in offsetting exchange with China, the opium exchange is centered solely
around China. Since Britain's economy depends on the capital inflow and outflow to the nation,
it was significant for Britain to have a solid balanced economic structure. In this entire abode the
Bengal wasn’t benefited rather took the regressive momentum.