The act of 1833 ended the East India Company's last surviving
monopoly, that on the tea trade with China. It was motivated by the
pervasive dislike of monopolies in the epoch of 'Free Trade' and
'laissez-faire'. In the same year, Thomas Babington Macaulay,
secretary to the Board of Control, stiffened measures to require
open competition rather than patronage in appointment to the Indian
Civil Service.
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64 words
Citation:
Clark, Robert. "East India Company Act (2)". The Literary Encyclopedia. First published 01 February 2010 [https://www.litencyc.com/php/stopics.php?rec=true&UID=4722, accessed 23 April 2024.]