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Decline of indigo business in India

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1827: Troubles arise for India agency houses with the indigo industry (which had been earlier pioneered by John Prinsep, who by 1800-1804, from London, was fleetingly interested in investing in New South Wales): Commercial trouble arose in Bengal over indigo from 1827-1830. Indian merchants were unwilling to deal with Europeans. The fallout was such as: In January 1832 a house (David?) Scott and Co failed, which affected Messrs Alexander and Co. Matters worsened in 1833. Colvin failed in 1833, so did Fergusson and Co, and Cruttenden, Mackillip and Co in 1834. Seven great agency houses failed in four years, which depleted the commercial credit of the presidency. Some junior firms came in, some with bases at Liverpool. The EICo ceased to be "commercial" in 1834.
(See Nirode K. Barooah, David Scott in North-East India, 1804-1831: A Study in British Paternalism. Jacob Price, One Family, p. 220.

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