See also:merchant, economist and
See also:governor of the East India
See also:Company, was
See also:born in
See also:London in 163o, the second son of
See also:Child, a London merchant of old
See also:family . After serving his apprenticeship in the business, to which he succeeded, he started on his own account at Portsmouth, as victualler to the
See also:navy under the
See also:wealth, when about twenty-five . He amassed a comfortable
See also:fortune, and became a considerable stock-holder in the East India Company, his
See also:interest in India being accentuated by the fact that his
See also:John (q.v.) was making his career there . He was returned to parliament in 1659 for
See also:Petersfield; and in later years sat for Dartmouth (1673-1678) and for Ludlow (1685-1687) . He was made a
See also:baronet in 1678 . His advocacy, both by speech and by
See also:pen, under the pseudonym of
See also:Philopatris, of the East India Company's claims to
See also:political power, as well as to the right of restricting competition with its
See also:trade, brought him to the
See also:notice of ,the shareholders, and he became a director in 1677, and, subsequently,
See also:deputy-governor and governor . In this latter capacity he was for a considerable
See also:time virtually the
See also:sole ruler of the company; and directed its policy as if it were his own private business . He and his brother have been credited with the
See also:change from unarmed to armed
See also:traffic; bfit the actual renunciation of the Roe
See also:doctrine of unarmed traffic by the company was resolved upon in
See also:January 1686, under Governor
See also:Joseph Ash, when Child was temporarily out of
See also:office . He died on the 22nd of
See also:June 1699 . Child made several important contributions to the literature of
See also:economics; especially Brief Observations concerning Trade and the Interest of
See also:Money (1668), and A New Discourse of Trade (1668 and 1690) . He was a moderate in those days of the "
See also:system," and has sometimes been regarded as a sort of
See also:pioneer in the development of the
See also:free-trade doctrines of the 18th century . He made various proposals for improving
See also:British trade by following Dutch ex-ample, and advocated a low
See also:rate of interest as the " causa causans of all the other causes of the riches of the Dutch
See also:people." This low rate of interest he thought should be created and maintained by public authority .
Child, whilst adhering to the doctrine of the
See also:balance of trade, observed that a people cannot always sell to foreigners without ever 141ying from them, and denied that the export of the precious metals was necessarily detrimental . He had the mercantilist partiality for a numerous population, and became prominent with a new
See also:scheme for the
See also:relief and employment of the poor; it is noteworthy also that he advocated the reservation by the
See also:country of the sole right of trade -With her colonies . Sir Josiah Child's eldest son, Richard, was created
See also:Viscount Castlemain in 1718 and
See also:earl of Tylney in 1731 . See also Macaulay,
See also:History of England, vol. iv.; R .
See also:Sketch of the History of the East India Company (1813); D . Macpherson,
See also:Annals of Commerce (1805); B . Willson,
See also:Ledger and Sword (1903) . (T . A .
SIR JOHN CHILD (d. 1690)
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