Bullion for Trade, War, and Debt-Relief: British Movements of Silver to, around, and from Asia, 1760–1833

This paper provides the first detailed assessment of British exports of silver to Asia during the initial phase of imperial expansion in India. It demonstrates that, contrary to the views of some historians, exports of silver were at times very considerable, notably after 1785, when they were used to fund war and debt-relief in India, as well as for trade. Focus is on the East India Company, but attention is paid to private exports, to British transfers of silver around Asia, and the paper ends with an analysis of ‘reverse’ flows to Britain established after 1810.