Star. — London, England, 1812-04-03 00:00:00

Just publislard, price IN. 6d. boards, ri - wgLvE SERMONS on Varioui Subjects ; and Narrative of the First Appearances of our Loma, on the day of his B.C.OkrrefAiaa• By the lite D. stoxEs, D. D. Formerly Fe llow or Trinity College, nubile. • Sped by Cad4;ll and Davies, Strand; and all other Booksellers. Where *0 OW' b . e SER MD Nkon Occasions, with Historical, Critical, and Political Notn ; containing an article of some length on the t4is: rFiOLIC QUgsTION. By •R: VALPY, I). I:I, F. A. S. 2 Vols. Bvo. price fits. hi beards. THE CLASSICAL. JOURNAL, No. IX. for March, 1812, euntainingttesstrai., BIiLICAL,3AdOiIINTAL LiTLRATURS, price 6.. Published Quarterly. ' Was ptibliihed, price 3i. PAPERS respecting the NEGOCIATION for a RE NWAI. cf the EAST-INDIA COMPANY's EXCLU EIVE PRIVILEGES. Printed for Sherwood, Neely, and Jones, Paternoster.row. INN-4 HOUSE. EAST INDIA CHARTER. Yesterday, at twelve o'clock, a General Colin of proprietors was held at !.he Indiatiouse, for the pur pose of taking into consideration the Correipondence (read'at the last Court) between ,the Directors and jig Majesty's Ministers, respecting the renewal of the Company's Charter. The minutes of the former Court were read, and it was stated 'that this Cou:t met to consider the said CorrespOndence, pursuant to adjournment fixed for the 2.41 of April. • Mr. BOSAPQUET, the Chairman. opened the debate. by stating the nature of the business. Mr. 'SANDAL JACKSON considered the subject deeply interesting, not only as a measure affecting the body of prrprketou, but as a proceeding essential to the vital interests of the kingdom. They were bound to consider it not on interested motives, but on parrioic principles. He should be ashamed, be said, to admit that he did not feel as a British citizen, without reference to any share be might have in the affairs of the Company. He should not have trou bled tl em if he had not felt that the interests of the Proprietors were consonant with the interests of the country at large. After the anxious perusal of the papers laid before the Court, the question was, whe ther they would consent to receive a renewal of their Charter under a peculiar circumstance, namely, that of opening the trade, allowing persons to export goods to India, not only in their own ships, but to import, and alter the trade as it stands at present ? The siMple question was, sshether or no they were to concur in such arrangement, and whether it would he their interest to open the trade ? With regard to another question, respecting the Company's army, the arrangements cil the Directors appeared to indi cate that it was to remain with them, subject to re gulation. And when that army became the subject of consideration, there were others as well as himself who would make observations. On another topic, namely, the Trade to China, Government had shewn a disposition to allow that trade to remain with the company, convinced, that. if the Company save up that, they might give up the whole of their trade, and the greatest part of the produce of that country. They stood then on the question, wbrther the trade pas to be open ? Whether India was to be open to all, to sell in their own ships ? That was allowed,' to a certain degree, in the Act of 1793. The mer eantile'body were admitted to trade, under restric tions, with the Indian empire. Whether the Govern meat would make the restrictions worse for the Com pany than any they had yet heard of, would be a matter for future observation. They were to consider the effect of opening the trade. He had in.this Court I uniformly contended, that whenever, from want of capital, the Company could not support the trade to I ndia, the British merchants stood 'lry for the gene. ral advantages of that trade, because the commerce of the country with Tndia would be promoted by making the British capital the medium of that corn, ;nerce. In 1797, when two Bills were brought into Parliament, one , to allow unlimited intercourse with America, the other for nations to have intercourse with India, with foreign ships and foreign sailors, the great history of those measures was to promote the welfare of American commerce. After the French revolution, America sent over a proposition • to conclude a treaty of amity and commerce, and we consented to certain conditions of commerce, one of which was to allow America to carry cn trade with India. Several causes of action arose on the subject Iletneen British subjects and Americans, and Lord lcenyon decided that American ships might come ironi.America, carry merchandise to India, bring back commodities, and sell them to all the world.— That was the interpretation of the law, and the Go leinment was called on to repeal the Act, as detri mental to British trade ; but, instead of pacifying the merchants, they thought proper to continue a free trade to America ; and it was necessary to bring in the Bill for allowing all nations to have an intercourse ith India. The grand object then was, to make all comply with the Navigation Act. Was there any one Nho heard him that would say, that, if instead ofthoie Acts whi.fl a:lowed foreigners to trade, the trade confined to British merchants only would not have bean as advantageo us ? Would not that trade" in the hands of the Scot; and the Batings have been conducted with as much advantage to this country u America ? It had been mud, that the merchants of this country . differed from foreigners, because they could introduce bullion, and that it was not for their advantage but ours. He contended generally on this subject, that the trade ought to benefit Enghsh mei. eliauts only. With respect to *the promotiqn of American commerce by those laws, he did not con. ctive that the Government .1)1i:1 - adopted the real means to facilitate that object. He was not solitary in that observation, and until Lord Melville sent what was termed an explanatory letter on the subject, the majority of the Directors were of the same opi nion. It was not until many persons had been let iiito a splendid commerce by the effect of those laws, that they were sanguine enough to attempt to turn the tidc of the estabiiihed trade. He had heard an Honourable Member say, , 4 Whenever we. talk of p cserviag our trade ender the Company's privileges, t;.ey never look the question in the face. When we Ix gin to talk of clan destine• trade, they talk of foreign a4le, anti what it would be to exclude foreigners.' They . said, ou the present occasion, Give the tradt 1...) our own merchants, not to Americani or foreign ers, and far less to clandestme English traders. lbt two acts to which he had alluded were in force.. The treaty with America had expired, but the Aet which allowed all persons to go with their flags to India was in force. Qn the whole, he thought it would be wise if a new system was given them, to let British subjects go hand in hand - in the trade, and be pot the question 'to all who heard him,' namely, Whether it would not be expedient to repeal' those Acts ? As for the Navigation Act relating to, India, their situation compelled them to look with jealousy on eaportation and importation, and that Act could not be disturbed. By asking for a renewal of their last Charter, they were called on to accede to a free trade! but they were not bound to give up all their privileges, without making every effort to preserve them, He was not now to say.he would not submit, but it was another thing to say submit unconditionally. The trade taken nut of the hands of the Company would be disadvantageous to the Country.—lt was impossible for any person to con sider Indian affairs without feeling very great sur prise, and wondering how that trade could have been kept on. No man would believe that so many splcn- , did actions could have been done for the honour of the Country. They wouldlnot have distinguished them.' selves as a body of Merchants to such extent, but for a feeling of honourable ambition which some men would assume, without the love of power and domi- ' nation. All the difficulties the Company had sur mounted, the Country might have had to encounter, if the trade had been opened at an earlier day. No thing was said satisfactory on the subject of coloniza don. It might be said, that it was a question of large scope on which they had not determined, but the Court ought to say in return, till you hive made up your minds, take care that you do not lead us into dangers by innovations. If the Go rernment had not made up their minds to the dangers of colonization, nothing could be more correct than saying, if you I open the trade, colonization will be the result. If the trade was confined to our Merchants, all the I goods would be brought to Lortdon, but speculation would arise. The sties might not be conducted on fair principles, and one thing ought not to be forgot- 1 ten, namely, the sales of the Company by Inch of ' ca;rdle. If any Director should have the cupidity to wish to make more of articles tban the fair market value, sales might be made on a different principle, and the public advantage dune away. All would . then be speculation. and extensive mischief would ensue. "As the case stood, why might not the Mer chants of North America trade in common with the I Americans ? It was an anomaly in things to permit I the Merchant at New York to do that which could t not be done at Halifax. It had been said, when they spoke of _American trade, that the more they gave them, the more they would have from them as friends. How far the latter proposition was well I founded recent events would confirm ; but with re spect to the endeavour to prove such by commerce, no inconsiderable share of infatuation had occurred. • He was not to find fault with Philosophers who had described them as living like the Patriarchs. Arcadia anal their happy life 'might be a theme for praise, but that sort of lite was not calculated to promote the great acts which the prosecution of commerce re quired. He was anxious,. after the preceding argu ment, to take a view of what the East India Com pany had done for the Public. In 1780, when the Charter was granted, Petitions against it from Liver pool and Glasgow were presented, setting forth many propositions, some of which stood on the same point as those of the present day. In saying this, he de• sired to be understood as admitting the arguments of our countrymen, with respect to their right of the trade in preference to foreigners and America. They were paying £300,000 per annum duties, when the Charter was renewed, and they put it fairly to the Country, whether it was Rot the interest of Gosern trient to support such a Company. They did mote at that period ; they advanced to Government one mil lion, and Government was so well pleased, that they superadded fourteen years to their Charter. It be came necessary to inquire how they had conducted themselves since, and to see whether £300,000 had been increasing. In 1783, the export tonnage of the Company was 10,000 tons. In 1798, it got to 23,000 ; and, during the last three years, from 30 to 33,000, principally consisting of ships of war, carry ing a number of seamen. As to duties, it was corn ,mon with mankind to feel too little the value of what they possess_ without much pains. If it was not so, the Government might give the Company a carte blanche on the present occasion, for having done so much. In 1730, the duties were £300,000. — In 1793, £1,000,000. In 1803, £2,050,000. For the last five years they had put annually into the I Treasury four millions. If they had done all this, and he could bring the data to prove that it had been done, Government ought not to say Nay ! to such an appeal as theirs. These advantages would not have , been obtained, if trade had been vested in other hands. It would appear that they 11.1.1 enriched the Revenue, and added to the honour of the Country. If he looked at the question politically, it would ap pear, that in 1793 the whole coast of Coromandel ' was ours. The great emporium of the eastern world had received our tradis They had carried it on through Madras and Bombay, and all had been ac complished amidst the turbulence of India. He then resorted to the arguments contained in the cone- spondence, to prove that the Country bad received the greatest assistance (tont the Company with re spect to its conquests. On the subject of their finance it would appear, that in 1793 they were to have had an increase of three per cent. on their dividend; but this was not a question of pounds, shillings, and pence, he was anxious to discuss the question on a liberal scale. Now the trade was to be opened to a great extent, waa it just to say they should be paid for the loss they might sustain ?—(Hear,hear.)—lt mght be suggested to his Majesty's Ministers, that the Pro prietors might be gratified by a compensation ; for instance, those Gentlemen who were to enjoy the trade Shonlil pay for it. Suppose, said he, we were to call on them to pay five pet cent. to be paid to us t from whom the trade has been taken. They were under a great annual debt in India, but they had been i „it great expense to assist the Government in driving ' out the French. Who would believe that they, as a body of Merchants, had marched an army to Egypt? and who would believe that when that great service ' had been performed, the Government had left them to discharge the expense ? When they were left to ,tate these things, was it too much to say, they ought o transfer the debt ? • Having bestowed' an eaco. Alum on the Directors, for the active st,nd able part they bad taken trt the negociation, he concluded by moving in substance, EA the Court, haring perused the papers lid before them, expressed a high sense of the conduct of the lArectors, and te tanal them thanks for their judgment in pointing out the dan ger of opening the trade, and the advantages of it as it stood.— he Court could not b ail observe with great concern, that ne proposition had been suggested of an increased dividend, tn vntbstanding the urgociations gf 1793 had commenced with the allowance of a dividend of two mu; a bag per cent. Under this impression, the Court confided the farther negociations to the Directors, trusting that they would receive from Government that liberal treatment which they bad reason to expect, and that they would report, from time to time, the effect of their negtaciat ion." Mr. Jackson's speech was followed by loud ap plause.—The question being put, Mr. Roca{ rose and stated, that after the able and eloquent manner in which the question, so far as the Company's interests were concerned, had been sub mitted to the consideration of the Court, he should not now presume to trespass on their patience. On some future day, however, he should bring under the view of the Court, a question as to the situation of the Company's Stock, and that though by the Act of the year 1793, a guarantee on this subject had been pro ' mired them , key had never yet recejve4it. Mr. GEORGB JOHNSTONI did not rise to give any opposition to the first motion of his Honourable and ' Learned Friend, cordially agreeing as he did in all the arguments so forcibly adduced by 'his Learned Friend in support of his proposition. The impression made on his (Mr. Johnstone's) mind, on first hear ing the correspondence, which he now held in his hand, read, remained the same, after a full and ma ture consideration of it. He thought it did equal honour to the zeal and ability of the Gentlemen, to Iwhom the Proprietors had so wisely confided the ma: nagement of their affairs. Tt was only because h e ' ! thought that the proposision of his Honourable and I Learned Friend (Mr. Jackson) did not go far enough that he now presumed to trouble the Court. There ' was also another point on which he had some doubt, I namely, that part of the proposition of his Hon. and ' Learned Friend, by which it was recommended to the Directors to have in view some compensation to i the Proprietors, in the shape of an additional two per cent. to the dividends on their stock, or otherwise.— He meant merely to throw out this to the considera tion of the Cow e, and no more. He was aware that he had an audience who could not be supposed to i lend a very favourable ear to any : suggestion of this kind. He knew them, however, to be above the' narrow and mean feelings which taught men to look to their own interests merely, and to prefer them, even when in opposition to the interests of the coun try, and of the nation at large—(alrldaules.) The great objects which they had in view, in cummun I with every man in the country, were the preservation I of the East India Company, on fair and equitable principles, such as should be calculated to secure the i happiness of the East, and the possession of the Em pire in the East to this country. He objected to any ' attempt to have the dividends on the Stock of the ' Company encreased, because he saw no possibiljty of its being admitted by Government, or by the Par.l liament of the country. No body would suspect him of doubting the gallantry, talent, and zeal, which had been displayed in acquiring and maintaining our possessions in the East. No mure meritorous services than those of the East India Company to the Go. vernment of this country were to be found in thepage of history. Still, however, he begged Gentlemen to recollect, that the public expectation at the time their i last Charter was granted had been dispppointed. In' no respect had their hopes been realized. An annual payment had been promised to the nation. A great saving to be applied to the-liquidation of thc:r debts had been calculated on—neither of which bad been realised ; but in both of which the Company having been disappointed, through no fault of their own, the expectations of the public had experienced a similar disappointment. Such a claim as an add•tion to the dividend on their stock, the public, therefore, would not readily admit—and if the Court did not with to detract from the weight of their own claims in other respects, they would forbear from urging this point at the present moment. The debt of the Company had greatly increased since the date of their last Charter,' and they were at this moment under the necessity of asking the assistance of Governmillit in the raising of six millions of money in this country. The zeal and I prudence of the Directors in theirconduct of the pre sent negociation, had led them no farther than to claim an abatement of the Income Tax front their dividends as now made ; and even this had been re- fused, in the first instance. Would it not then, he appealed to the Court, be imprudent in them to injure their cause in the eyes of the public, by urging the payment of any additional dividend to the Proprie tors ? What he principally rose for, was to supply what he considered a defect in his Learned Friend's speech. What situation were the Court now placed in ; and would they discharge their duty if they did not state what was their own opinion on the present extraordinary situation of their affairs ? The Reso lutions of his Learned Friend went to express, and deservedly so, the warm approbation of the Court as to the conduct, zeal,and ability with which their Direc tors had executed the trust reposed in them.—This, however, he submitted, was not enough. They ought unquestionably not only to have expressed their appro bation, and their warm approbation, of what was pail, I but they ought also to have static' what they expected in future. If the trade to India was to be opened to all the citizens of this country, but the imports were still to be confined to the port of London, and to be sold from that house, then a great part of the object w hich the Company had in view was obtained. '1 he answer of Lord Melville to the hint on this subject, how ever, was far from being 'satisfactory. The Noble Lord indeed stated this to be highly expedient as a matter of revenue. But was this enough ? pre- Arent the improper intercourse between Europe and India was here the grand object, as by it alone could the colonization of India be prevented. When it was considered that the greater part of England, and the whole of Scotland and Ireland, which were formerly shut out from the trade, were thus to be admitted to it, were the Company, were the Country, secure • on this head ? and should not that Court instruct their Directors to support this article, as essential to the safety of the whole establishment ? He wished, that in the Resolutions of his H9ll. and Learned Friend the regulations which it was indispensably necessary should be insisted on had been pointed out. Many regulations of great importance, and to his mind essential to the well being of India, and its continuing ccunected with this ccWarY, had not been • conceded to the Company. The part to whi c h h e had just alluded was the principal of these; and I st wished the assent giyen to this part of the sun % tion on the part of the Company, that ail ships ee ls . ing to this country from India should unload at si t port of London, Bcc. bid net been grounded on it being a thing desirable in point of revenue, but th e it had seem assented to as a general principle. there should be a great press at petitions from van ous parts of the country against this regulatioo, should means be proposed by which the reverie s might be protected independently of this regulatioa, he was afraid this regulation would be got the feett 4 of ; and if there was once a free unlimited ini r , course between Europe and India, the trade would •sop he put an end to altogether. He should no s therefore du his duty, if be did not propose to st reng . then the hands of the Directors in such a matter a s the present, by moving, that it be recommended them not to depart from this regulation, as esseetid to the very etirence of the irade to India, and to the continuance of the empire of the East in this 034. ' try. The Company had surrendered all, and it wa s necessary, that having done so, they should canticle firm in demanding this which was held out to thew as a regulation, to be adopted when they gave up every thlt.g. He thought it would be becoming is the Court to do this before they parted. He agreti with his I.eerned I'3 iend, that there was no occaioa f or t h e appointment of a Committee of Proprietor: to assist the Director : on the contrary, Le red rettes he.had not words to express h:b sense of the zeal and abilities with which the Directors had managed affairs entrusted to their care. In a con'est with Government, huwever, all was power on one side, and all eras weakness on the other. The present Government, it was to be observed too,-had much t. contend with, and with the assistance of Member; from sea.port4 and fiom maritime counties, wh might be instructed to vote in a p art i cu l ar way o n such a question as this, there was a possibility of the inclinations of Government being thwarted, however well they might be disposed in favour of the rege. tion to ninth he new alluded. The Hon. Gentle. man proceeded notice several other regulations proposed on the part of the Directors, wlitilreithe r had received equivocal answers or had beer. refused, but which he thought were of importance. No gu a . rantee had b3en proposed to be given for the coati. nuance of the dividend of ten and a half per cent._. He was doubtful if there might for some years be a 'profit to this extent, and ii any Gentleman should come into the Councils of his Majesty whp might net be of so friendly a disposition to the Company as the late President N the Board of Controul was, he could have no great difficulty in speedily finding out that the Company had not a profit of ten and a half per cent.' He agreed with his ',earned Friend, is hoping, that the trade, so f.ir as thrown open, should . be confined to British capitalists and British seamen, He was, however, still o f o pi n i on , as he formerly had been, that it would be unfair to our fellewoubjects settled in the East, and engaged in the coasting trade there, that while the subjects of these kingd o m s at home, in general were allowed to send out their ship. ping to the East Indies, and even to employ their shins in the country trade there, - our subjects settled in the East Indies should not be entitled to send their India-built vessels to this country. He also wished that other clauses might be introduced, giving es. creased powers to the Company over their own tary force. It was impossible that the Company could hold this force in complete subjection, if they had not the means of giving due effect to the open• lions of hope and fear. This could not be done if seniority alone were the rule by which an officer Wit to rise in the service. Unless some regulation as that to which he alluded were adopted, it would be id possible that the Company's army could be held is Isubjection, These were all'poitits which he esteemed 'of impot tance ; he should take the liberty of radio; Resolutions agreeably to these ideas now, and shoe propose them to the Court th e moment the origin.) Resolutions should be disposed of. The Honour able Gentleman then re 1:1 his Resolutions, anti% that he had. no objection to the Resolution of ha Learned Friend. MY. BOIANQUET put the Honourable Proprietor right, by informing him that Mr. Jackson's Resole• non was not divided into two parts, but was contaimi in one. Mr. JOIINSTONB said, he should then move to omit the words, as to the remuneration to the ProPniur" Eliding dun the Court was against him, however,* this particular, he withdrew his amendment. Mr. RIGBY, in conformity with the wish of a tyd rant of old, who wished OA all his subjects had me head, that he might by one blow have annihilated the whole, wished that all those who were now peti tioning against the Company's charter, had but ON ear, and that they had been present to-day, that they might have heard the speech of the Honourable aid Learned Gentleman who so luminously opened die business, and that they had also the benefit of dio correspondence now in the hands of the Members d that Court; one or either of which, he was convideolle must hare satisfied them as to the necessity of mak nuing the trade in the Comp my, at least to the ellb tent claimed by the regulations now proposed. ilk was a subject which ought to be looked at ills ooh mercial light, though at the same time, hewn,* tend, that the conduct of the Company had ben ho• nourable to a fault. They had not been able to their promise as to the prutitalle harvest * they had calculated on reaping ; but they had abarvyst of glory instead of one isf wealth, .and .frtiltrof that harvest had redounded to the country. Mr. LOWNDES said he had concluded his last speak with a wonder and astonishment," but had been unio!"; nitte enough to forget the reuse by which they hid t excited. He should now explain this omit); Absurdity. His wonder and astonishment then PO ceded trom obse r vi ng , that on the return of Lora Wellesley and his brother to this country—two u who were the Saviours of India, instead of being ceived with open a r ms, as they ought ' they eo to have returned only for th.: purpose of being r!: secured ! Now, to the business of the present 07_ Looking to the speech of his Honourable Erisak: I to No. 8 of the Correspondence, he must sap were both so conclusive that be could not chum P 11 ; tween them, but must say, as was the case with • Wills and the Bishop of Bath and Wells, o_ 4 hitt" He must confess, that he was once motel! is wonder and astonishment. If they asked for isa: lie !you'd tell them; arkil it was this—Zbas 1 ft r un • VI: S 0 W. Wi br of Cc tin chi fn. to sot t!ii bf he Tril 103 th bt te d 4 • to fr )f I; •tN tli ni P ti lc . s a 1 e h 0 /