How did the East India company procure regular supplies of cotton and silk textiles from Indian Weaver ??
Class - X
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Answers
On getting the political power, the East India company established a Monopoly right to trade and developed a system of Management and control that would eliminate competition , control cost , and ensure regular supplies of cotton and silk goods . The company took several measures in this connection:
☆ To eliminate the traders and brokers connected with the cloth trade , the company established a direct control over the weaver . It appointed paid servant called the gomasthas to supervise Weavers , collect supplies , and examine the quality of cloth .
☆ It prevented company weavers from dealing with other buyers. The company introduced the system of advances . Once an order was placed , the Weavers were given loans to puschase the raw material for their production. Those who took loans , had no choice but to hand over the cloth to the gomastha. This prevented the weavers go to any other trader. They were bound to weave for the company .
☆ The Weavers lost the space to bargain for prices and sell two different buyers. The price they received from the company was low , and the loans they had accepted tied them to the company .
Answer:
The East India Company adopted various steps to ensure regular supplies of cotton and silk textiles. (i) They established political power to assert monopoly their right to trade. ... (v) The weavers had to sell at a price dictated by the company. By giving the weavers a loan, the company tied the weavers with them.