In 1825 the British sent another mission to Bangkok led by East India Company emissary Henry Burney. They had by now annexed southern Burma and were thus Siam's neighbors to the west, and they were also extending their control over Malaya. The king was reluctant to give in to British demands, but his advisors warned him that Siam would meet the same fate as Burma unless the British were accommodated. In 1826, therefore, Siam concluded its first commercial treaty with a Western power, the Burney Treaty. Under the treaty, Siam agreed to establish a uniform taxation system, to reduce taxes on foreign trade, and to abolish some royal monopolies. As a result, Siam's trade increased rapidly, many more foreigners settled in Bangkok, and Western cultural influences began to spread. The kingdom became wealthier and its army better armed.