The Rise and Fall of The Global British East India Company (December 31, 1600 – 1874) | The “Cornwallis Code” (1793) with unnecessary restrictions on Europeans and emphasizing non-existent foreign alliances led to the Ultimate Failure and Bankruptcy of the British East India Company – formally dissolved in 1874
The British East India Company (EIC) faced near-bankruptcy in 1772 due to corruption, famine in Bengal, and mismanagement, forcing a £1.5M government bailout.
While initially surviving as a “too big to fail” entity, the 1857 Indian Mutiny led to the Crown (Queen Victoria) taking direct control in 1858, and the Company was formally dissolved in 1874.
The Cornwallis Code:
• European personnel were prohibited from private trade, and they were instead given higher pay.
• Magisterial and police powers were removed from collectors and given to a new, organized police force.
• The Code merged European, Hindu, and Muslim legal principles.
The British East India Company ceased being a highly successful British Enterprise Company by attempting to become a synergistic 1st & 3rd world entity resulting in the most epic failure in governance, business and banking in recorded history.
William Dalrymple’s “The Anarchy” is a historical account of the rise [and fall] of the global British East India Company (December 31, 1600 – 1874) | The “Cornwallis Code” (1793) with unnecessary restrictions on Europeans and emphasizing non-existent foreign alliances led to the Ultimate Failure and Bankruptcy of the British East India Company – formally dissolved in 1874
The British East India Company (EIC) faced near-bankruptcy in 1772 due to corruption, famine in Bengal, and mismanagement, forcing a £1.5M government bailout.
While initially surviving as a “too big to fail” entity, the 1857 Indian Mutiny led to the Crown (Queen Victoria) taking direct control in 1858, and the Company was formally dissolved in 1874.
The Cornwallis Code of 1793:
☆ • European personnel were prohibited from private business trade, and they were instead given higher pay.
• Magisterial and police powers were removed from collectors and given to a new, organized police force.
• The Code merged European, Hindu, and Muslim legal principles.
The British East India Company ceased being a highly successful British Enterprise Company by attempting to become a synergistic 1st & 3rd world entity resulting in the most epic failure in governance, business and banking in recorded history.
December 31, 1982 European Community (EC), the eve of the Ten-year Anniversary of Britain’s entry into the European Economic Community (EEC) precursor to the Modern EU of 1993.
The European Union (EU) was officially established on November 1, 1993, with the entry into force of the Maastricht Treaty, evolving out of post-World War II economic and political cooperation initiatives. – Google AI Gemini
Note: My first encounter with the European Community (EC) was while serving in the Marine Corps 31st MAU deployed to Berbera, Somalia for “Operation Jade Tiger” in November 1982.
A shipment of donated grain (wheat) was in the Berbera Port facility and due to Somali sectarian fighting the bags of grain were unable to be distributed among the people.
After a couple of days some heavy construction equipment was used to distribute and stack bags of grain at various locations among the roads and intersections.
I was at one of the roadside distribution points that became extreamly volatile as Somali factions attempted to regulate who could and couldn’t receive that aid.
While I was there I read the label printed on the burlap bags of grain – there was a design of a blue andcred shield or badge with EC or EEC on it and in dark blue lettering below the shield it said “Donated by the European Community to Africa” apparently the bags were sourced of Russian (Ukraine) wheat and delivered to Somalia by Russia but financed and branded by the European Community. I asked some Somalis if they were grateful to Europe – when they understood they said No! the grain is from Russia and they thanked Russia who had been supplying grain for many years.
A Marine Officer I didn’t know, myself and another Marine I didn’t know talked about the European Community (EC) logo, I had never known it even existed. The Marine Officer said it was a Union of Nations in progress (not the final form) and that it was the way of the future for Europe but it wouldn’t be an easy future.
All of the Marines myself included at the impromptu Aid Station departed the area as there was nothing more we could do and the Aid Station had become an immense flash point and dangerous zone – probably the most dangerous place of my entire military service.
By David Anson Brown
ITN’s Godfrey Hodgson presented a special report assessing the merits of membership of the Common Market.
The report featured interviews with prominent figures in the EEC including the Chancellor of the Federal Repulic of Germany, Willy Brandt, and the President of the European Commission, Gaston Thorn.
From the British side, concerns were voiced by Eric Heffer, the Labour Party’s spokesman on European Affairs, as well as Labour Member of European Parliament (MEP), Richard Balfe.
UK Exemptions Opt-Outs with the European Union
The Substantial UK Budget Rebate “Discount” of Billions of British Pounds Sterling (£) per Year
The Rebate:
Negotiated by Prime Minister Margaret Thatcher in 1984, the UK received a annual refund (discount) on its net contributions to the EU budget, roughly worth billions, because the UK received a relatively small share of EU agricultural spending (CAP).
UK exemptions with the European Union involve past opt-outs during its membership as well as post-Brexit arrangements and active policy disputes.
Historic UK Opt-Outs (During EU Membership)
While a member of the EU, the United Kingdom negotiated and held five formal opt-outs:
☆ Economic and Monetary Union (EMU):
Exempted from adopting the Euro (€) and keeping the British Pound (£).
Area of Freedom, Security and Justice (JHA):
Flexible opt-in/opt-out choice on a case-by-case basis.
Schengen Agreement:
Kept its own border controls instead of joining the passport-free Schengen Area.
Charter of Fundamental Rights:
Secured a protocol limiting how the Charter could be used to challenge UK domestic law.
The Social Chapter:
Initially opted out under the Maastricht Treaty (though later signed up under the Labour government in 1997).
Current Status:
All of these opt-outs and the budget rebate ended when the United Kingdom formally left the European Union (Brexit). If the UK ever sought to rejoin the EU in the future, it would not be guaranteed any of its former opt-outs or the historic budget rebate.
Post-Brexit Exemption Status & Current Disputes
Since leaving the EU, the UK is treated as a “third country,” leading to specific travel, trade, and regulatory stances: – Google AI Gemini
In this video, we take a look back over the last 90 years of European integration, from the British perspective.
Beginning with Churchill’s championing of a European project without British involvement in the 1930s, and moving through successive British governments’ attempts to balance their interests between the Commonwealth & USA and the emerging Common Market in Europe, the path to British accession to the EEC in 1973 was a difficult one.
UK PM Andy Burnham Opens Door to Britain Rejoining the European Union (EU) in 2026 as Brexit Debate Returns | The British Brexit ‘U-turn’ and ‘Reset’
‘Brexit Has Done More Harm Than Good’
Burnham Signals Major UK-EU Rethink ‘We Could Go All the Way’
Burnham Raises Prospect of Britain Rejoining EU
British Prime Minister Andy Burnham said the UK should examine every option for its future relationship with the European Union, from maintaining current arrangements to a customs union, single market membership or potentially rejoining the bloc.
Burnham said Brexit had caused “more harm than good” and promised a wider debate ahead of the November 2026 UK-EU summit.