'History of the Indian Navy. (1613-1863).' [‎12] (53/590)

12
HISTORY OF THE INDIAN NAVY.
to thwart, his proceedings, a letter from the King of England,
and a valuable present to the Emperor, procured him a favour
able reception, and he had little difficulty in making arrange
ments for permanent trade. The voyage commanded by Sir
Henry Middleton, notwithstanding the loss of the 'Trade's
Increase,' yielded one hundred and twenty-one per cent; that
by Captain Saris, two hundred and eighteen per cent. But it
is evident, from the above account of their proceedings,
derived from Beveridge's " History of India," that these
returns have no title whatever to be classed, as they usually
are, under the head of mercantile profits. About the same
time that Captain Saris set out on his voyage, a single vessel,
the 4 Globe,' had been despatched from England, under the
command of Captain Anthony Hippon. Instead, however, of
proceeding to Bantam or the Red Sea, the 4 Globe' sailed for
the Coromandel Coast, being the first Company's trading
vessel to visit these shores, to which the Portuguese and Dutch
had long before repaired. But the Dutch, who were in superior
force, would not permit Captain Hippon to trade at Pulicat, and,
after visiting Masulipatam, near which, at a place called
Petapoli, he left some people to form the nucleus of a factory An East India Company trading post. ,
he proceeded to Bantam, and thence to Patany on the east
coast of the Malay peninsula, and Siam, at both of which
places he established factories.
To Captain Hippon, therefore, belongs the honour of having
been the founder of those factories in the Bay of Bengal,
which developed into magnificent trading establishments, and,
ultimately, gave place to our Presidency The name given to each of the three divisions of the territory of the East India Company, and later the British Raj, on the Indian subcontinent. cities of Calcutta and
Madras.
Owing to the opposition experienced from the Dutch and
Portuguese, it soon became apparent to the Directors of the
East India Company, that, if they were desirous of continuing
and developing the trade, which, notwithstanding all losses
and obstructions, gave clear profits, seldom below one hundred,
and often more than two hundred, per cent., on the capital
invested on the voyage,* they must be prepared to oppose
force by force. As a result of this determination they equipped
their vessels for fighting, as well as trading, purposes, and
despatched a squadron sufiSciently powerful to repel aggression.
The ships consisted of the 'Dragon' and 'Hoseander' (or
6 Osiander,') afterwards joined by the 6 James' and 6 Solomon
and the command of the squadron was entrusted to Captain
Thomas Best.
Ihe two first vessels sailed from Gravesend on the 1st of
l*9^ UCe T 0 L the H 1 onourable Ea st India Company," Vol. I, pp.
I A * l n 1 valuable work, published in 1810, a full account may be
found of tbe early proceedings of the Company, whose historiographer Mr.