The Expansion of British Capitalism in the Economy of Travancore

Abstract

Travancore became a subsidiary ally of British government after signing the treaty of 1805. Evenbefore there existed trade relation between Travancore and British government. The influence of finance capitalism and free trade became dominant by the second half of 19th century in in Travancore. The British government very much interested in supporting British capitalist to invest in plantation in Travancore. Moreover, they also encouraged free trade in Travancore. This paved the way for connecting Travancore economy with European metropolitan capitalism. The metropolitan capitalism transformed the economy of Travancore to the status of a periphery. The reclamation of wasteland was encouraged by the British government in Travancore to expand the plantations of the colonial capitalists. They introduced railway, postal system and modern means of transport to expand the tentacles of capitalist exploitation in Travancore. Mention may be made in the context about the dominance of British interest in Travancore administration to facilitate British capitalism. For instance, the inter portal trade convention passed by British government in the second half of 19th century. Thus, the economic impact of British rule indirectly subordinated the economy of Travancore for colonial interest.