Political Economy of Conquest

Abstract

By the final decade of the eighteenth century, the political economy of conquest had crystalized into a distinctively recognizable modern form. Expanded scale of war-making created a need to surveil the financial operations of the colonial state. The changing valence of ‘corruption’ came to include a growing insistence on eliminating leakages from the financial flows that enabled conquest. Corruption was not merely a moral scourge but a structural flaw, which if left unresolved would drain the war-making capability of the early colonial regime. Financial accounts of the East India Company therefore had to be rendered legible to public scrutiny and parliamentary debate in the form of an annual India Budget. Colonial conquest captured the cultural imagination of metropolitan Britain – from painting and the Georgian stage to a new graphic scheme of statistical visualization – all sought to comprehend Britain’s territorial empire in South Asia. The growing appetite for war was fed by territorial conquest on an ever-expanding scale and transformed colonial warfare into the most fiscally impactful activity. An entire infrastructure of financial surveillance had to be created to organize warfare and conquest more efficiently. This edifice of control and scrutiny rested upon a growing appetite for reliable information about the financial health of the Indian empire and forecasting the dividends of territorial conquest.