Bulls sticks his hand through the basket to knock away a shot by Maurice Harkless #21 of the Orlando Magic at the United Center on December 16, 2013 in Chicago, Illinois. The Magic defeated the Bulls 83-82.the United Kingdom today. How did this come about? It happened through the trade system. Prior to the colonial period, Britain bought goods like textiles and rice from Indian producers and paid for them in the normal way - mostly with silver - as they did with any other country. But something changed in 1765, shortly after the East India Company took control of the subcontinent and established a monopoly over Indian trade. Here's how it worked. The East India Company began collecting taxes in India, and then cleverly used a portion of those revenues (about a third)to fund the purchase of Indian goods for British use. In other words, instead of paying for Indian goods out of their own pocket, British traders acquired them for free, "buying"