This paper accounts for the decline of the East India Company in light of the political and commercial influences occurring in the Year 1833. It considers the fall in the East India Company with specific concern Charter Act 1833…
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This paper accounts for the decline of the East India Company in light of the political and commercial influences occurring in the Year 1833. It considers the fall in the East India Company with specific concern Charter Act 1833 It considers the fall in the East India Company with specific concern Charter Act 1833. The East India Decline in year 1833: § Introduction The East India Company was perhaps among the most powerful commercial organization that the world had ever witnessed. In its heyday it not only had monopoly on British trade with Far East and India but it was even responsible for the government of already vast Indian sub-continent. All of these factors meant that the British East India Company marked a greater historical event. The East India Company came into being in 1600 before collapsing completely in 1858 this was the phase when the Company was taken over under the direct control of Great British government. There are a number of reasons that contributed towards the decline of the Company and eventually it being taken over. The decline of this megalomaniacal commercial entity was already destined by its own actions as far back as the mid-eighteenth century These include the short term factors such as the Indian Sepoy Mutiny as well as the other long term factors such as the internal mal administration of the Company (which had taken birth earlier than 1833), the ever increasing power of British government and to some lesser extent this can even be attributed to the change in public opinion over time. Charter Act 1833 Reform Act The period that had followed the enactment of the great Charter Act of 1833 witnessed very great change in England. (The Richest East India Merchant: The Life and Business of John Palmer of Calcutta, 1767-1836.) The industrial revolution had actually a greater impact in England. In the year 1830, the time when the Whigs came into super power in the wider political scenario of England, this opened a way of the triumph for the liberal principles. Consequently, the Reform Act was passed in the annual year 1832. (Reform Bill actually came into being by Parliament in June 1832. The Bill actually was directed against the political monopoly of the financial aristocracy and landed gave representatives of such industrial bourgeoisie access to the Parliament. However, the proletariat and petty bourgeoisie, the main forces towards the struggle for the reform had gained no electoral rights. ) The Reform Act with that the concepts of laissez faire and the rights of men were then duly emphasized. Introduction of Laissez Faire Laissez faire is a kind of style that is positive only in condition where the workers are very responsible and in the case of creative jobs where any person is thereby guided by his own aspirations. In such cases, less direction would be required so this style could have acted better. This was the kind of style where most people don't like someone looking over their shoulder of responsibility, in that manner laissez faire style would promote a sense of trust in the workers. This style has more disadvantages this is due to the view that it is imposed as the lack of interest of the leader that leads to him being adopting this style. It just proves that there is an ineffective or poor management which makes the workers lose their sense of direction, purpose and focus. The disinterest of the leadership and management causes the workers to become less interested in their work and their dissatisfaction even increases. A laissez faire management might makes it easier for workers to do substandard job or to slack it off entirely but that usually cause a very high visibility problem to bring such workers to a lighter situation. Laissez faire, or a sort of hands off style of the governing, can lead to lots of corruption and anarchy. Many
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