Star. — London, England, 1803-03-15 00:00:00

• % IDIBTS A? NOME. Os Ili March, goi On Ift Mart 42,180 2, Pretence ASSETS AT HOME. On 111 it/0.m%, I Sol On VI March, Bos tnereafe Adding Prerrafe of Delve In incresfe of Afters, Se improvement of the Houfe Concern in this year is 7.19309 042,633 57a,3c.6 15.404.71 6 16,8c.2.7(c 1.39/Pl4 19 6 933 0 CHINA and !,77'. HELENA. Balance at Chins laft year In favour t,a26,079 No 24.—Batante ..t China by the precut accounts Ilvre.tfe Balance at St. Helena oo ioth Sept. 1799, in favour 53,3e6 No. asrEalance at St. Helena on 3oth Sept. tBol, in favour 77532 Inereafe r 9,486 Net deereafe at China and St. Helena tg70341 1PT9.551r ao6ja With filch a difpofable furplus, provided the transfer of funds from Europe to India Diall meet with no interruption in time of war, the contra& - ing of fre(h loans may not only be avoided, but a rillem of liquidation, upon principles fimilar to g fe above fitted, be purfued even during war, though neceffarily upon a reduced fc.ale. For executing the above meafure, and for the eaten fion of trade, the Company poffefs the fol lowing available refourccs May add to thrr capital two millions at )20 per rent. 4,00=0 Mori: Bonds may be tined, with conf-nt of Tresfury I ,noci,ooo .54 0 areud S• ppofe. as above, railed for Sinking Fund - 24300.crua Itsmains for eateufion of trade - 3.40040 To the precedit g c t lc illations it might, perhaps, be' objeCled that the value of the afrets of the Com. parry would in confequence of the peace,. expeni ence a cnnfiderable depreffion. This, to a certain degree, he did not meats to deny, hut making every fuitable allowance for this depreflion, he bad no diffictilty in frying, that the ilatements which he had now made wou!cl be fully realized. His Lord (hip explained at Come length, the mode in which we plan for the extinCtion cf the debt was to be carried into efre.ft. He defcanted on the all if ;793, relative to the payment of the Company'- debts, and (hewed that if the pith& had not hi therto received use payments provich.d for by that aa, it was becaufc the war had put it nut of the ! power of the Company to levy the lum, which by the aa was appropriated to the liquidation of the debt. He Rated the combined operation of the extiation of the India debt, and the increafe of the national finking *tanat, and took occahon to vindicate the view ofthe profperity of the affairs of the Company, drawn by the Noble Lord (Lord Melville) who had for fi, long a period, and with fuch diftingui(hed ability, prelided over their af fairs. Becaufe the profpefts which that Noble Per. fon held forth, were not yet realized, was no proof of their not bring founded on truth. If the five hun dred thoutand ponnds, which were to be annually paid by the Company to Government, had not been paid, it was becaufe the count: y had been conflantly engaged in war, from the time that the art for the appropriation (4'64 turn wac palled. If war had not taken place, he had not the fmallel doubt that the Com. any would have poll - effect, am. pie means for the difcharge of every claim which could be produced againfl them. The fair way was, to form an eflimate of the prnfpea of the future fi tuation of the affairs of the Company, to fee what had been the effea of the late war, and to confi der in what fituation our Esilern poffelions would be placed, in cafe of the renewal of luatilities.— Looking to the prefent ritualism of India, he could date without difficulty to the Committee his per. feet conviaion that our poffeffinns in that quarter of the world were now beyond the reach of any probable danger. The extent of our territories had h. en almost doubled, and we had gained an Almon equal addition to the number of our rub jeas, from whence a large additional revenue would be derived. Every profpec of an aceumu iation of revenue exilled in cafe of the ci ntinuance of peace ; and if, unfortunately, war should again take place, there was no reafon to dread our com petency to take every precaution for the fecurity of our Eaßern dominions, without reforting to the expedient of a loan. Thefe views were en couraged by the contetiplation of the Rate of In dia fur the left ten years. During thefe ten years, India had been engaged in aimort perpe tual war, and Rill it had borne up amid this fevers prefrure with refoorces undiminilhed, and powers unbroken. The extent of our empire and our revenue had been almoll doubled. J,n the prefent Rate of this country and of Europe,-it was im poffible to calculate on a very long continuance of peace f but if, unfortunately for this country, for F.urorll, and for the world, we fhoula again be forced to renew the war, it was a great fatisfac tion to relic& that no part of our dominions sous its a date of greater fecurity than India. We had a numerous and well appointed army, which was adepuate not merely to guard againfl attacks from any of the neighbouring powers, but to afford complete Comity againft the force of auy Euro pean power. The influence of the Company was fo Readily fixed as not to be expored to aay rival ! fhip. After expatiating with confiderable force on Ithis point, his Lorsifhip concluded by moving the • &ft tefolution. Before he fat down lie ohferved, that he willed at prefent merely to move the relislu- I tionsitre faros, and 'crave the dircurGon of them I to whatever day might appear moil convenient to Members who had any define to deliver their fen-. • I timents on the fubjea. IMr. Jonerrosa complimented the Noble Lord on the clearnefs and precifion of his Ratements.— He objefied, however, to feveral articles in the • accounts, and contended that a proftteet was held I out of the future profperity of the Company which! I would never be realized. He complained that in giving the accounts of the expenditure of the Coro. ploy, the extraordinary dilburfements were omit ted. The eftimates prefinted were in almoll every cafe extremely erroneous. They alma uniformly fell (hors of the real expenditure. He animadvert ed with . great force nnt he topics, illuflrating and fupporung his paitions by an appeal to Ratements applicable to the feveral points to which he allud ed. He took particular notice of the pmfpea held I out of an include of revenue atifurg from our late ,actrilition of territory in lodic. The means by which this territory had been acquired he repro bated in the firongsa terms. Nothing in the prae. tics of Freud' Jacobinifm offered a greater outrage to every principle ofjullice. While he condemned I the aside in which this acqnifigi. not eeritor) had , been gnaw late wok oce4so =vets Severally I CENTRAL COMPARISON of DEBTS and ASSET& Incrcafe of Debts in India • 3.054.1 r Decreafe of Debra ac Hone 5 / 1 ,3 06 Net leereafe of Debts 2,461,824 luereafe of Atka in India - 544169 buniatt of Mirth:loose 2.30 S 24 14414,3 DEDUCT—N et Decreafe of Balance In favour at China and Saint Helena 1,7:5.35 1 187,04 S Net Int-reale of Arent rfedueted from the Mende of debts, would thew the hate of the whole concern to he worfe than at the conclubon of the left year, in the fun, of 10w573 Which it= is Usk& to alteratioa on the VW ad latment of the claims of the Company on Govern ment, included in the Home Meta to the amount of 3,573,3391. making an increafe in this year under this head, of 900,8991. In thofe flatements the Committee would fee, that in the fituation of the Company, the prefrore of the Debt wac the circumfkance which called forth the mat ferinus reflotlions. Heavy, however, as the preffure of the Debt was, it was matter of agreeable confederation to the Committee to know, that if fince 1793 the debt had increafed, the Aires of the Company had increafed in a fimilar propor tion. While their expenditure had accumulated, their receipts had advanced in a degree equivalent to the i ncreafe of the demands on their general flock. In fpeaking of the exilling India Debt, the molt eriking em.flderation was the fevers preture of the high rate of intereft, and therefore in any plan for the estinaion of the debt, the fire point to be attended to was, t take nieafures for transferring the debt of India into the debt of Europe. He had to Kate to the Committee, that on an average the rate of intercti was not lets than 9 per cent. and therefore the policy of Inch a fy Rem as he had now alluded to, mull clearly appear to the Committee. His Lord.iiip defci i bed with great minutenefs the whole of the plan I..rmed nn this principle for the extinetion cf the debt. Abfkrafted from the calcu lations, his arguments would be unintelligible to the general reader, and therefore we think it un necefrary to go beyond his general filaments. PROSPECTIVE VIEW. 'lndian Mt • - --: Or irldch bears interett Amiga how& SZTVIVICS Mid CUA R 014 MNlVigil dot Wit *Mem Bengal Levan, Madras Bombay Total Rooms !kepi Chips Madras Swag sfjoe.oco 16,000,cc0 £438,741 7.ut.ltott 4436.4 00 17 0 .9 ft 11,976.110 4,155 667 414/0.303 Loos That Claris 'Aikido Net Reroute ttospAt -Clostorreltl Clow, r 15,0311 SNOW M llowoutas, Es,utio 1 37.43: 1, 49 1 .373 40ereft on Debt 1.43 1 •70 1 • Net Surplus 4033,55 s Pockllve of Iwo*/ beaded to the Charge far loarralt sow payable to CoratalSoaers oa Debt • beossitop. HOVE SURPLUS. Soar Yens Avenge to Mareb nos AM Net Surplus abroad • Say Net Proceeds *Tic:ppropor — — 7ionaiprolits mm Unltomett of fear 'millions will be more. Duratirrnew or NIT ?ammo*. Public Partkipalso ittlanoo et Dobt riuirotto SINKING IN Kw Tole. applied le es& Year • tie Cafied d bibs bearing feteielt is ree Odd ft • - - - Assault to be redreest - - Time requirel-11.1 Veen. ilweerm. SINCNO FOllll-t0 be eesithuted all 364274 sps3 5 12 1,410,456 zjecycao goo,oco it,coa,ooo igeo,oco tair:oupoo farm Prom Net Prowsds la above • - t,000,000 From Savings of Wendt and Loans la Sorge six/Nero Total spoopoo The Melting Fond will operate as andenteadt, ibp ps6ag the retell Intsrelt to b gradually reduced, . gill it Anil Mai at 6 per Cent.: badly Liegir will be reduced April tit" r 4.ootamo Intend • • zioPto The twelve Maass paid of will haw boot fop. • OW as follows , . Earplug from Net Proceeds for fir Years 6.0005300 Savings of tostereß on the fine period 2.713080 To be fbroilbod from Europe . 3,:1170300 I i,coO;oes) Of the Sum to be furnifhe4 from Ettrop . e, not more tl:an z o ooo,ood. need be tailed by Loan, the repayments from Government for the Egyptian Expedition, tee. will cover the remainder, and this fum Cubic& to be reduced by any improvement of pet proceeds, which may hippea, either in the revenues or commerciAl profit.. syNtle OF AFFAIRS Ar THE END OF SIX YEARS. _ . Indian Surplts, April I Sop Hume Surplus 2,2 r %WO 4S ),"co 2,;ocpco 500,000 2.200,cc0 Dcdruet pulaie pardcip.tion larpollnit tar nelions railed In aid of Sln Ind Fund, by aZdbly dcdud interett at s per cent. t 00.003 a,too,nco Net proceeds fulled to ulterior erproprlitions, 14.1 J t.. Proprietor* to lactate Diviiirude 31 0 1 1000 5 CC.* to be toycftctl In the fends to etetieter4etewe_ capiul 1.73 0 0 00 1,100/7/01 The operation of the above appropriati m until thc I car a 8 i s-t 4i when the Charter vo.uhl expire, focner renewed, would be, to increafe the Company's Dividends annetalljby one half. via. 350,:cc1. soil to accumulate at per cent. c•'m• p: , und intent, daring the five yeast a guarantee Gut: of soopi,oool. • - • In the event of Wartile Indian furplas whit be the nafttre of the tares impofed on the diftri.9s Iltb• neceiLtrily reduced. The reduaions of chayeijeaed to our doMinion. •Th r fe taxes were imp,. fence the peace amount, per eilimate, to 783;0901: I*, and it was quite impotlibie that they fh,,!.1.i per annum.. Allowing for' a war eflablifhment continue. The manner in which the finances o" tail ai extent It) Ihat at the clofe-of the late war, the Company had been defcribed, tilled him with tie.e will Rill remain, Net Proceeds, 787,0901. ifioniihment. He had heard of perfons who, when But to make the molt ample allowance, take the ever they found that there was any part of their war charges at f',000.0001. there will (till rern : tin, condua liable to objeaton, came forward to cla;m Net Proceeds, soo.'sool. applicable to the retitle- pec , tiiar merit for that condua: This was exaaly tion of debt. In this cafe the participation of the what appeared to him to be the condua of thofe public would necetEliiiv he fufpended during war, who drew ( Itch a &acting pi lure of the :late of and would revive upon the reduaions relishing the Eaft India Company. Every previous ca;•.:u. from peace. Onion had been proved to be erroneous, and he did not imagine i:tat the profpeets now held I.: ill would be m,sre :i:.1.: to ba t ealized than thole by which they were prece.led. Lord CASTLFR M AC;', ceplained. The CHANCELLOR of the Etc a Kyr a v Nild de , tain the attention of the Committee but for a few mon,ents, and that in order to make them fe:l how onfeafonable and unv:airantahle it was in an lion. Gentleman (Mr. Johnlione) to drag into difcualon matters which had no direct connexion sa' the queftion under confederation, and when ' 1 there was no potlible opportunity of Liveiligating : the matter to which he had fit pointedly alas %el - . Indeed it was matter of ?egret with him that the Hon. Gentleman should be induced to entertain 1 the opinion he bad expielled. If this was not the moment to inveftigate this point, w.ts ;t not de-1 colons at 'call to abltain from any refire:ion on I it, and not to attempt to bias the opinion of the Committee before they had a fair opportunity of i . inquiry into the merits or demerits of the cafe ? He felt it his duty to lay thus much, becapfe the 1 moil unexceptionable cafe might be perverted by 1 random acculations and inuendoes,and ungrounded ' infatuations be direaell againft the molt merito rious faunas of the country,•againft whom no injurious opinions &mid Rightly 'be permitted to go abroad. Whenever the quellion which the I Hon. Gentleman fo unfeafonably brought forward came duly before the Houfe, he was fatisfied that , the charailer they enjoyed and the eftimation they were held in by the country, would bear them triumibantly through all the infinuations and of pet ii :ts that were obliquely direaed againft them. Sir 11. IN a Lis was of opinion that as the tranfac tinns in the Carneic, to which an Hon. Gentleman had in pointedly alluded, were to undergo a Cepa rate difoillion on a future day, it was hut pace not to attempt to give the Houfe any unfavourable imprelliun refpeCting them before they could he flibmitted to a full and fairinvelligation. He could I not therefore help difapproving of what had fallen refpeeting them from that Hon. Gentleman. Mr. VItAVCIS did not rife to follow the Noble Lord thiragh the whole of his liatements. That was a talk AR•ltich no one could encounter on fo fu. perficial a view of them. fie might, however, ven- 1 lure to fay that almoft the whole of the noble Lord's eftimates would prove to be nothing more than mere promifes and pi editions. Such, indeed, was I , pretty generally the nature of fuch ellimates.— Since the renewal of the Company's charter, was there more received than for one year, viz.— soo,oool. ? But, lays the noble Lord, the regular payment was interrupted by the war. This was an argument, behind which the I.tte Prefident of the Board of Crontroul never attempted to theltertim felf ; neither would any of the Court of Direetore, who were Members of that Houle, be very for sard to confirm the ftatetnents made at: night. In ;Sot the balance infavoin of the Company was feven millions ; in 1130: it was not more than five. But what was (!ranger than to oblersee in a com mercial account of a trading Company, that no mention was made of their capital hock, which ought to be the article to hand firtt in all fuels ac counts; and indeed fence Ins it always conftitut- I ed the fird article. There was left out of the at ' count a Tutu( of no lets than 7,800 t 00010 next, a i film of 3400,0001. Grid to bedue to the Company; but was it ap effeltive debt ? Why then make it a part of a pretended property ? There were Hill many minor Corns, of which he at prefent would enter into no Ratement. Indeed, were he dill poled to take any part in India affairs, he lbould demon it his duty to move for a Committee to in quire who were the perfons who prepared fuck fabricated accounts. No doubt it was fuppolid that no one would take the trouble to examine into them, otherwife no one could have the face to pre fent fuch unfounded Itatements ; for on doe eta • minatiowhe waa convinced that, inflead of finding ' live millions in favour of the Company, a larger turn would be found to Rand againft them. Lord CAITLIII•CH vindicated the accuracy of ; the Ratements he had prefented. Thole flatements reprLfented how the affets of the . Company corre- i fpnded with their debts, and he was confident they contained nothing that could betray any at ' tempt or inclination to deceive the Public. The 1 refult of the accounts moll completely anfwered . the Hon. Gentleman's (Mr. Francis) queflion.— The total of the debts of the Company would be found to amount to zS,Bao,oool. and the Ares to 1 ' 28,700. 00 r Ol . fo that they nearly balanced one 'another. The affeu were therefore about equal to • the debts, and if other circumftances were after , wards taken into confideration, itwould appear that ' the Company had a clear annual incomeof a million applicable to the rediiftion of their debt, and that ! they poffeffed more than what was equal to every I charge that could be brought againd them. This was a Rate of profperity of which, perhaps, no trading Company willing could boaß, and it fully refuted the cafe which the Gentleman laboured fo much to eitablins. Mr. FRANCIS, in explanation, obferved, that no trading Company should leave out of their accounts the amount of their capital Itock, and that in the prefent inflame it could not have been omitted fur any fair purport. Mr. Wiccias Donnas ridiculed the obferva• tions of the Hissourable Gentleman who fpoke lad in a very happy vein of humour. The question, he observed, mutt be obvious to every unpreju diced mind, and that indeed there was one little line in the accounts, which, had the Honourable Gentleman condefcended to infpea it, would hate mod fatisfaeorily answered every thing he has i asked. The line to which he alluded contained att. 'account of the Company's acts, exclufitc teL thole eireta! Mick ; and if the honourable Cent!tman had deigned to glance at it, ;115 1.1.11111tS w d. ;rave ileen cleared up, and he would not have threaten ed to call the Officers of the Esti India Cn.trirany to the bar 'of the Honk to at ,- aign them of iißv. in; given in false and fabricated It a t e rnerus. TI. Righ, Honourable Gentleman th:ii entereu an elaborate pary.7vric on his Noc.le e writ Melville) and vimlicated him ft om the infi rarations which he conceived were againa him by the Honourable Gentleman. Mr. Fe wctsfaid a few words in c%plana:on. Sir FR .11.. Cf 1 1.1.11111111 extolled VIZI V . 1i:Oily the Ade manner in which the Noble Lord liailiii u AA in' ward his 11a:emery, but eiiul i not help thi ',king that he fceme.: to i.o.ltil, t e fam.nsl.::: to., Mr a pro. pl)::::c fpirit. lit this flight, however, 1;i: fli •Glit not en& Lunar to purfue him. The N. oleo Vii count who lart , iy prefided over the Boar,! 4 Con. trawl, his Lit a poli•io.1 tellanacnt, in which he • thews that upon an eflimate of 13 yell's, the Com. Ipony mould be able to pay off one million annual ly of tio.ii dcb:. But the Court of Direaors pro ; poled to pay off two millions annually, without railing one penny of additional flock. The Noble I Lord now flare-, that the piii , lie is to receive 5c0,c,;;.)1. annually from the C.anpany in confide. ration of the renewal of their charier ; that may bz—bot he nit& own that this profile° is founded on the continuance of peace. As to any attempt ; to mile the flock, that the Company mutt fie with ' reluctance—furely it fhould be duly confidered , whether it was proper to raife money on coMmab vial funds, in order to pay off political debts ? Lord CASTLEREAGH explained as to the nature of the plans for increafing the capital niche Com. pany, and referred to the decifitm of the Court of Directors, where it was alferted, that for the two enfuing years they expected to clear two millions per annum. Sir Tllsorritt.usMsvcatre declared,that he de. fled the Hon. Member on the floor (Mr. Francis) to prove a tingle inflance where the eltimates Were er roneous. But that Hon. Gentleman (he raid) had gone farther ; he had accufed the framers of it with falfifying the Account ; he hoped that this was an ex. pi _ LE in only dropped through cha ncc in the warmth of debate, and ti tined .hat the Hon. Member had m..re liberality than to 'Mill on the expreflion. He boldly denied the charge ; the EaR India Company were a mcli refpeathle and honourable tin.' y, and the Chairman and Deputy Chairman were men poffeffed of as high a fenfe of honour, and whore conduct was regul ated by as dri :1 an attachment to veracity, a , that of any other Honourable Member in the Houfe. Betides, he would fob mit it to the Hoare, was it at all probable that any relpeaable body of men fhould, in their cor. porate capacity, attempt to fillify acconnts n hich were to be laid before the public ; was it probable that the Executive Government of the EMI India Company would endeavour to falfify an acconnt againtt thcmfelves ? for the flatement of the Hon. Gentleman, he Paid, went to that. He then (lightly obferved on an expreffion which had fallen from an Hon. Member with refped to the condo of the trartfadious in the Carnatic, and declared that he could (olemnly and fafely afrert, that, to .he heft of his judgment, nothing had occurred iu that tourer, truth: the influence of the Directors, or Reich came within the knowledge of that tidied. ened Nobleman, the Governor-General, which was not fit-idly honourable and juft; and that the whole of the important events which took place on the part.of the Company, were dictated by the foundeft principles of policy. An Hon. Gentleman (Mr. Francis), he Paid, had found much fault with the omifGos of the item raped in the account now be. fote the HQLII . O j the fad was, that it ought not to be in the account, for it was guaranteed by their charter, and there it was Rated to be / 2 millions initead of 7, as that Hon. Gentleman had Rated, which, if correctly taken into the account, would be five millions more, that is twelve millions in the Company's favour. The Hon. Member then paired a very high eologium on the conduct and ability of the late Secretary, now Lord Melville, and paid a handfome compliment to the talents and integrity of the prefent Noble Comptroller of EaR India affairs. The Hon. Member then took occafion to remark that the Noble Lord below him (Lord Calllereagli) had Paid, in the amok of his very accurate Ratement, that he liked raga sera/err; now he would beg that Noble Lordlo direct his attention to the cafe of the flock.holders % or proprietors of EaR India Stock, who were at prefent dbliged to put up with an interell of 5 per cent. for chair money, a profit which no petty fletp.keeper in London would be content with.--. The dividend on India Stock was now toi, and to indulge his Lord(hip's partiality for mod alma krt, be would with to make that fraction nue UP teger, and raife the dividend to tr. By this and loins more trifling improvements, together with the arrangements at prefent in contemplation, and forne which have already been begun, the Corn. pany would be able to extend their capital in pro. portion to the important ceifions which have been lately obtained; and he would be bold to lay, that Government would, in a very ikon comparative (pace of time, receive more benefit from our Eafk India Settlements, than all Europe would from all their other colonies together. The Houle tefumed—The Refolotion.was then read and agreed to, and the Report was ordered to be taken into confideration this day fe'nnight. A Report was brought up neembe Onewietes of Sept. The fax.-a 1 refolations were road all wand to. The Cannon! LOit of the Excutemaa state melee that he Intended on Wedoedday neat, to sore fora Ctelhoittee to lo• gain Imo the Rate of the Cicil LIR, amd of de moans of inos "voting its further accumulative. The I eon Mayo% of Loodoepeftpoutd hit elation relative to Tonnage, kc. to this day fene:gt.t. Mr Votes! • moved that the Speaker do Ito. a heel writ for a Member to fern is ParSueent for ArK , int, is Na to et of arm. tsilamon. P.fl, who hos at-cored of t►e OS* one of the Cornmlltinnm toe tSo Aland of TriviJad.-.otdorod. Mr. Wuck u ) are DOLICIIIOIIIII intrtltiOß if" swirl tortirsili to Wu. io • Bill for the furthe.r regulation of time Midi In be. I in& Lame vras given to bring In a Dfn trizontate the of mow" , advaared by way ol loan to machaote arl atf A Trinidad. _ _ _ Eardring Laws' Bin was paged through Cessuelme, and iLt• report was to to be received tonmerrew. The •Asr fri Sin Rai paAremi l e..%.1 die lima silemplir