He was not squeamish in pecuniary transactions; but he was neither sordid nor rapacious. He was far too enlightened a man to look on a great empire merely as a buccaneer would look on a galleon. Had his heart been much worse than it was, his understanding would have preserved him from that extremity of baseness. He was an unscrupulous, perhaps an unprincipled statesman; but still he was a statesman, and not a freebooter.
In 1764 Hastings returned to England. He had realised only a very moderate fortune; and that moderate fortune was soon reduced to nothing, partly by his praiseworthy liberality, and partly by his mismanagement. Towards his relations he appears to have acted very generously. The greater part of his savings he left in Bengal, hoping probably to obtain the high usury of India. But high usury and bad security generally go together; and Hastings lost both interest and principal.
He remained four years in England. Of his life at this time very little is known. But it has been asserted, and is highly probable, that liberal studies and the society of men of letters occupied a great part of his time. It is to be remembered to his honour that, in days when the languages of the East were regarded by other servants of the Company merely as the means of communicating with weavers and moneychangers, his enlarged and accomplished mind sought in Asiatic learning for new forms of intellectual enjoyment, and for new views of government and society. Perhaps, like most persons who have paid much attention to departments of knowledge which lie out of the common track, he was inclined to overrate the value of his favourite studies. He conceived that the cultivation of Persian literature might with advantage be made a part of the liberal education of an English gentleman; and he drew up a plan with that view. It is said that the University of Oxford, in which Oriental learning had never, since the revival of letters, been wholly neglected, was to be the seat of the institution which he contemplated. An endowment was expected from the munificence of the Company: and professors thoroughly competent to interpret Hafiz and Ferdusi were to be engaged in the East. Hastings called on Johnson, with the hope, as it should seem, of interesting in this project a man who enjoyed the highest literary reputation, and who was particularly connected with Oxford. The interview appears to have left on Johnson's mind a most favourable impression of the talents and attainments of his visitor. Long after, when Hastings was ruling the immense population of British India, the old philosopher wrote to him, and referred in the most courtly terms, though with great dignity, to their short but agreeable intercourse.
Hastings soon began to look again towards India. He had little to attach him to England; and his pecuniary embarrassments were great. He solicited his old masters the Directors for employment, They acceded to his request, with high compliments both to his abilities and to his integrity, and appointed him a Member of Council at Madras. It would be unjust not to mention that, though forced to borrow money for his outfit, he did not withdraw any portion of the sum which he had appropriated to the relief of his distressed relations. In the spring of 1769 he embarked on board of the Duke of Grafton, and commenced a voyage distinguished by incidents which might furnish matter for a novel.