Company Bahadur

A design in two compartments illustrating an article in Biblical phraseology, ‘The First Chapter of the Book of Kings’ and ‘The Lamentations’. In the upper part is depicted a meeting of the General Court of the East India Company; the directors seated at a table on which are writing materials, a book, and a hammer. In the foreground a large man, Governor Johnstone, is holding up by the seat of his breeches ‘Shah Allum’ or Sir George Colebrook for the derision of the other directors. In the background, behind a barrier, a crowd of men, apparently the proprietors of East India Stock, watch the proceedings with amusement.
A ship with broken masts in heavy seas is driving on to rocks (right), on which is a flag-staff with a flag inscribed ‘Treasury Cape’. On the right margin is inscribed “L. 40,00,00”. This symbolizes the ruinous state of the Company’s finances, on the verge of bankruptcy and burdened with an annual tribute of £400,000 to the Treasury.

Being satirised is George Colebrooke, Chairman of the East India Company when it went bankrupt in 1772. The title 'Shah Allum' satirises two events- the grant of Diwani to the Company by Shah Alam in 1765 and the endeavour of Colebrooke to monopolise the market in alum.

The grant of Diwani (right to collect land revenue) was a disaster for the Company (although individual company men made huge profits out of private trade). So Colebrooke is being ridiculed for his colonial aspirations as well as his foolish speculative hoarding of alum; arguably, the satirist is drawing equivalence between the two ventures- both equally speculative