The Old Company, though generally regarded with little favour by the public, had the immense advantage of being in possession, and of having only to stand on the defensive.

The burden of framing a plan for the regulation of the India trade, and of proving that plan to be better than the plan hitherto followed, lay on the New Company.

The Old Company had merely to find objections to every change that was proposed; and such objections there was little difficulty in finding.

The members of the New Company were ill provided with the means of purchasing support at Court and in Parliament.

They had no corporate existence, no common treasury.