The British Press; or, Morning Literary Advertiser. — London, England, 1810-06-22 00:00:00

PAPERS RELATING. TO EAST INDIA AFFAIRS. tOribeed b tbb House of Coutonoss to Mt, IBM] Printed, May Ito.l.—Exposition of the State of the Company's Finances, at home and abroad :—SuMnitted to the Honourable Committee of the Home of Commons, appointed to take Sato coanderatiou the affairs of the East toilia Company. 1. The p. , cii.iary embarrassments of the Conn pony at home, began to be seriously felt in the course of year 18054; and the e tune. of them can be 1' lv traced. In the course of the year 1802, num, one peace or Amiens, a Oat', which is detailed tit the Indian Budget of March 11..03, was adopted for the liciuida!ion of the !whin d. ht.— One part of that plan was to increase the annall di,posable surplus ari-ing from all the Company's tempts, territorial and commercial, abroad and tit home, by Nee retrelichm, tits in the expenditure, sod by additional profits to accrue from augmented investments to and from Indio and China. In pur ' *wince of this principle, the exports to those coun tries were couaideratify increased both lii goods and bullion, in the years 1803 and 1803 ; but the war which hail been commenced in flindinisiaii against the Malirsttas is 1803, absorbed a large part of those supplies, particularly the bullion. fhe same cause hail materially affected the credit of the Company's paper in India; the provision of the extraordinary supplies required for carrying on the war became more difficult and expensive, and particularly the procuring of money at the station. .d.nase Presidencies for bills on Bengal, was attended with a veil heavy loss to the Compsuy. Impelled by these considerations, the Court. of Directors, when Lord Cornwallis went out in 1805, still con tinued their utmost efforts to stiviiit.on the supplies to Inditaild China upon, the scale of the tan pre egding years, haring not oily in View the relief of the fini nce s abroad, and the reduction of tithine , al expense. but the hope of a speedy terinitiatiou of hostiiites; and thence early returns proportioned to the supplies had been sent abroad. Thos, from the ht of March, 1803, to the lit of March, 1806, the amount of those supplies exceeded the amount sent in the three years immediately Preceding in the sum Of 2.712.326 i.; but this *AS not .11.1 The Company's receipts for sales of L! ..osis, from Ist March, 1803, to the tat March 1806. fill short of the receipts in three years immediately preceding, in no less a gain than 3,468,6711. This was partly owing to the diminished supplies of iii vestment from I lid! a, on account of the war there, and partly io the reduction of the prices of Indian good. in the hatne market. the consequence of the state of Eorope, and by vete large importations in London, through the medium of British pnvste laseeelia,it.. It is true, that la the same period of three year, from M arch 1803, to March 1806, the rill. of E‘clialige drawn on the Comp my -from abroad were considerably less thim in the yo r e years preceding; hut on a comparison of rectory' and payments, from March 1803 to March 1806, with dime orate three years immediately preceding, the result stands Persian', us account of investments,ofebarges ea private trade, sad of Whereat a animates, leas from isos w isnii 3,363,253 11Payssents, for exports, in goods and for customs, freight, hills of exchange, of limes pay, and divides& two . Total difference agaiiist the latter period L. 4,439.698 1 . 0 9. 1 .41 5 The paruculsirs of these stems will appear its the 'lemon , herewith submitted, No. I. The Estimate laid before Parliament, on the IRth July 111117, of the Company's Receipts and Dis bursements for •Isll7-8, *hewed a deficit of 11,213,796'. It was in consideration of the state of Wags, exhibited by this *cerium, that the Com pany were, last year, empowered by law to increase tlowr bonded debt two millions beyond the former limit. As it must be atisfac•ory to the Committee to know what were the real receipts and nay ments or the tear IBn7•ts, they are stated in the accompa nying Account, No. 2, in which, likewise, for the further satisfiiction of the Committee, a cumptrison is uu,sir he meet' the estimated and real ire. ipt. . paytio ots of that year, chewing the exce,a or defi ciency of the estimate, and the manner in %%Lich the actual deficit of wets was supplied hy means of estencling the issue of Company's laMd-, and by other ROC The account No. 3, nr%t to be mentioned, is that which ha. more i•ottieultate!y oceesiotted :ipplica thin tom the Court of Directors to His Maiest)'s Guyeermirstt ; sod, in eniewcpiettee, A rt fereoce of the awe or this Compauy's affairs to the consideration of this Committee. It is an esti mate ~1 tne receipts and p'ayments of the COOl. pang ft the 14 of March 1209. to the at of March 1 rtti. in which, after taking credit for the howls yet remaionig to be issued, con formably to the extended power given by the Act of last year, the deficit appears to he 2,433,1051. Credit is talon In this account for receipts on ac count of sales in 1803-9, to the amount of only 4,933.1451. To thew with what propriety this low sum is assumed, the subsidiary account (D) is sub mitted. It ethihita the ettiwatet Amount of sales fur the year 14074, with the edam/ amount of isles in that year, and this again compared with the esti mate of roles now in question for the year Ma-% distingui.iiiilig in both years the goods for boinc caroautuption and for exportation. It will in gene ral have appeared from the documents already re ferred to, particularly the statement No. 1, that the deficiencies in the Company's home fund., for mine past years, have arisen from exporting "nil paying intsre on account of India and China, than has beet' received it, the seine period from the investments returned by those countries, after deducting the necessary charges on them.— The urgent causes which led to large exports of goods and bullion. for several years, have been al ready explained. The export of bullion, how ever, ceased with the year 11105-6; but. on net-omit of the nbotreetions raised on the Continent of Eu rope, to the diffusion of the productions of this country there, and the many end urgent represen tations made by manufacturers, particularly in the great branch of woollen% of the stagnation in their trade. the Company. who have long made it a rule to promote. to the utmost of their power, the ex portation of the staples of the mother country, al though it is well known, that. Rine! the commence ment of the war, iu 1793, they have, in general, lost by them, and might often have sent out bul lion to more advautage, were unwilling, unless compelled by the last lieces‘ity, to reduce their provision of those .articles; and as the woolleos, which constitnte • very large proportion of their exports, are sent chiefly to China, the returns from whence ore swore adequate, and come to a better market, no considerable re duction could - have been made in the export of those woollens, or of specie instead of them, without de ranging the usual scale of the retort's, and this must have produced other inconveniences in re spect to the shipping which the Company are en gaged to employ, and to the state of the tea trade at home. As another consequence of this unexam pled time, extraordinary supplies of troops, of mi litary and naval stores, have been sent in the last two years, amid must be further provided for India and for then cone. yance au additional quantity of shipping, far beyond a hat the investment of the company Oat ward and homeward requiries, has been mid must vie: mason!y be employed. Other political charges, pay able in Englasid, particularly to Military °dicers re tired and on furlough, have also increased. Moreover, bills of exchange to a very large amount have been drawn ou the company from I edit and China, either in liquidation of Nihau debt, or for the supply of the Canton Treasury with bullion; and it is unne cessary to say, that, for the payment of these Bills, provision must be made. The freight, customs, and other charges incident to the goods brought home, are in like manner articles of unavoidable obligation, sod must be defrayed from the produce of the sales. All these concurring circumstances of a failure in the usual sources of income, on the one hand, and of large outgoings, commercial and political, ordinary and extraordinary, on the other, have nattir illy an,' necessarily continued to em barrass the home finances of the company, and to present an alarming prospect for the year 18011-9. But it is more particularly in the diminished re ceipts from India and China, especially the former, that thm• recent einbarrassitient• are chiefly to be look d for, and t , ,e- inereused deficit in the years 1807-8, and 1808-9, are lii•tioctly to be referred tot- H r.e account (n.) Ite..eafter to be leseribed, it wi , t n t i tit it the amount of Woo goods, whit:h— its 1799-9 %to ' L.4,667.29$ In 11104-11 ruc re.iuct 16.45-7 ft II to la 1887-8 per art ..Bot C.) was 1,309,00) And in 1806-9 per Ditto. is 1,191,213 Ihe cati.es of these progres.ive diminutions in the sales ttiti , t he too sell widerstood to require aoy partieutarexplanation. The sales or she China investment., which are almost entirely foe home egoattimption, have continued withoss't any very inatyrial variation since the the year 1788-9. al though the factory at Canton is at this time con siderably indebted to the Company for the excess of the sup l ilies it has received in some late years, above its returns to Europe, us will be 'hewn hereafter. As therefore the payment% for exports, Bills of Exchange, end other unavoidable outgoings, have continued in the two last years nearly at the stand ard of the three preceding years, and the receipts have fallen far below the staitihird, the cause of de ficit Loth in the past end present year. becomes at Apvirete. This, however, will he better il lustrated lay the second pert of the aceotint No. 1. in whirl' the comparison made lwtween the period from March 180.1, to Nerd, 1806, with the period from March MO, to March 1803, is carried on in the seine manner from March 1806, to March 1808. Cy comparing the receipts and payments in these Pao years, with the.ar•rrage receipts and paytnent • of two year% in the three front 1800 to 1803, they will toa..d thus : Receipts less L 3,575,550 Payments less, to be deducted 171,31PS Comprtrative diminution in the year. 150617 and _ - • • 1•I; . '4 To u.' , l the diminution as above stated twin 10 1806 Total e , ninparatire diminution or Home Foods ...... t of bait, and Chino, an lire yews to Ist March lliutl... 7,61.7,163 In ibis aer,ont No 1 it will be observed that the Retrips from Much isoa, to March 1808, e.e V10105,342 Aid the parar.de 30, 31'9,397 —•— Excess of. payments. I . 7,113,1,55: It may therefore naturally be an object of iu qui y by what means the Company were enabled to make up so large 4s sum, and the subsidiary ac count (A.) is intended to afford the requisite expla nation nn this head; more particislasly to illustrate the decre..se both iss the amount of sake of the Company's Indian goods, and in the amount and the rate of profits ou them in the last five years, the subsidiary account (B.) already noticed, which bet ins•with the year 1798.9 end ends with 1806-7 is produced. It contains also a View of the sales and profit. of China goods, which will be found not to have fallen off. The large sum in which, as will be collected from the account, No. 1., India and China have become indebted to the home concern, in the course of the last few years, and of which a more particular view will be given in the sequel, may, in consequence of the intended retrenchments in India, be expected to be in a con.iderable degree repaid at no distant period. But, in the mean time, the Company have a great amount of property more within their reach. The unsold goods at present in their warehouses in London. atop with mach certainty expected in the course of the season, valued at the prime cost, amount, according to the enclosed account, No. 4, to 7,148,4401. and valued at the selling prices, moderately estimated, amount to 13,400,3031. To enable the Committee to com pare the amount of goods on hand, at this period, with the amount on hand in former years, as far back as the year 1798-9, the aubsidiery acs ount CE.) is exhibited. It will be found, on examining this account, that the amount of goods now on hand, is, in an absolote sense, unusually large and also, that, in a comparative sense, it is in still • larger proportion, because it is formed from im pensions* inferior to those of preceding years, with the remains of which the comparison is to be made. The article of tea, which constitutes **consider able a part of the stock of goods on head, is sore of a sale, because it is chiefly used for home coo. suinption. To these more immediate resources the Court of Directors thieletbenoselves entitled to add the large, and, as theY.cenceive, most equitable claim which the Commity still have upon Government, for the various expenditures made au account of the in the East Indies; the account of which is now rt leered to this Honourable Committee. As a sepa rate representation on this subject will be addressed to the Committee, it shall not here he eiderged upon; but the Court feel themselves warranted to expect, that the confidence of the Company in the liberality of Government, and their prompti tude to embank in the public service, without exact stipulations for the repayment of their dis- Itursements,should not prejudice them in the settle ment of their accounts; and that even what, in a more flourishing mate of their affairs, they might have ' been willing to pacrifice to the public service, will not to exacted from thew under the pressures with which they have to struggle ; but that, as the present Committee are called to consider generally of their affairs, and have unrestricted powers for that cud, so they will feel themselves at liberty to award to the company, for their demands ou Go vernment, whatever sum the justice of the ease, rendered more indispensable by the present exigent situation of the Company, shell be found to require. It is not to be denied, that if the want of sales should continue through another year, that is the year I ann-10, the pressure upon the Company's home finances will also continue ; and for making rod whatever the available resources of the Company, including the mitoulit to be received by them in liquidation of the debt of Goveroment, may not supply both for the current year, according to the account No. 3.; and fist the year 1009-10, un doubtedly the Comp's.) , will require aid. The amnia of goods on lintel, or expected in the course of the FC.ISOII, per account No.4,atal which amount, probably. will not be less at any future period, except to the case of more current rdcs, which change would of itself go far to remove the existing difficulties, may. if security should be required for the loan, form a near and tangible security ; hut the repayment can be made only gradually, and in such proportions as not to interrupt the necessary currency of the Company's affairs. It is to be remembered that, if even the prey-ure now felt should extend beyond the present year. the large arrears in which India mud China are indebted to the home concern, may gradually be expected to flow in, and if nut immediately to increase the sales, which stay also happen. at least to increase the mass of seounty at home. It is farther to he recollect ed. that the China trade. which is the most solid source of commercial profit to the Company, re mains, and is likely tocontinte, entire. From this source chiefly. the Company have Ism stabled to pay the Dividends on their Stock. regulated by the Act of 1793. and have still the prospect of (lei-lying from it sufficient funds for that purpose. The emharrimments which the Com pany now suffer, although tantedietely aggrayeted by the obstructions to the national commerce, hate in fact their origin, as may be clearly . seen from the account No, I..and another account to be afterwards stated, in political causes. It would be unjust and impolitic, with every fluctuation arising from such causes, to alter the rate of dividend on the stork. It would have the worst effect npon the cre:lit end affairs of the Company. and would io pa.licillar be unfair to the Stockholders, who conic in upon the faith of a dividend settled by Parliament, and derive no advantage Km all the immense concerns which the Company manage, but common interest for their money. The Court of Director therefore earnestly deprecate the idea of any such alteration in the dividend, if any such suggestion should be made. _ 4. With respect to the Indian Finances, after the cessation of the hlsliratta wars, which Cease.. tion look place about the end of the year 1605, the Court of Directors had reason to expect a *portly and cruisideraille reduction of expenditure there, even reckoning upon large military arrears to be liquidated after the peace.—And although they were considerably disappointed by the result of the year Ibo 6-7, which still showed a drta•it of 1,761,0001., without allowing any thing for invest ment, they hod mach confidence in the liositive at anraocros of the Governor-General, Sir George! Bar low, that in the following year there would he a clear sad large surplus applicable to the provision of investment % or the reduction of debt. To the great surprise and mortification of the Court, however, the estimate for the year 1807-S, lately received from India. an abstract of which is now before the Committee, exhibits a deficit of no less a sum than 1.150,0001. and the troops sent out last year will add 150.0001.T0 this deficit, stillwithout any allowance for investment or commercial charges. which last circumstance is noticed here for the sake of explaining the acconnt, not meaning to imply that the allotment of lirge investments for Europe would at the present juncture base much relieved the Cordpaoy's home exigencies, though undoubt edly they would Issire.iacreosed the great mass of property possessed by the Company in England for the secunty of its home msgegements. But an Indian surplus would still have been of importance, even if applied to investment, because upon the reopening of the channels of commerce, which it may be hop►d are not to continue in the pre ssot unnatural state, it would have proved an avail. able fund here; or it such a surplus, instead of being to investment. had been used to lsssen the amount of Bills upon the Company, from India and Chine, it would have more immediately coons bitten to alleviate this pressure upon the Treasury at home. [To be enntinued ] On Saturday fortnight, en inquest was held on the body of ELIZABILTH 114 F, the wife of JACKSOsI R&a, of Gill. in the parish of Broomfield, near Wigton, who was found murdered in bed the pre ceding night by her husband ; and upon the evi dence being closed, the Jury. without hesitation, returned a verdict of Wilful murder dtgaiast Jackson Rat, the husband of the deceased. The Coroner immediately bound over the parties to prosecute.— The nnhappv man was discovered in a hay-loft, in Caldegate. Carlisle. on Saturday, and underwent an examination before the Rev. Dr. Gasso*t.v, previous to his being committed for trial at the ensuing Assizes. NAVAL INTELLICINCE. poa?sstotrrit. ,Itn.r.r. 20. The transports are released froth quaranti ne . The Portugal and Medite:raneat t fleet are is Portland Roads. Caine into harbour the I.4reivirihn h Pt.verourtt, JUNE 19. Caine in the Ame r i can slit') Boston, front Gina,. The. Hib ern i a and Northankr. days Leisure for England. rzia, Jun .' Arrived the Lo r d R o b ert packet, tourn Cohan l Ila. milton, in 15 days, from Cadiz; Tiornsend Pekes, Captain Western. from Ma ar, AL A Cadiz ; ten days from the latter place, at Ouch period rill wits considered perfectly secure aguinst the enemy, who had not made any 'proven M the siege s Provisions of every kind were plentiful. Sailed the Princess Angusta packet, for Glint'. tar and Malta.—Wind W. MAL, GUNS 20. Arrived, this morning, and smiled for the River,* Portuguese ship. 49 days from the Brazil.. Arrived, this Atternoop, several transiforts from Portsimouth, And remain. nuNorr, JUMP. 15. • On Mondny night the sloop Eliza, l:r:d mister, with a cargo of hate, I) ing at anchor off thir liar. boor, took fire, and was batik a little outside of the rocks called the Giaces. COVE OF CORK. /EKE IL Arrived the Helena sloop, Capt. IVerth, from a Soiled the princese Charlotte, Capt. Tobin, oi l a cruise ; Brisk. Capt. Conde, ditto ; Cat !feriae and Edward, of Milford, Davis, Newport, pigs; L. trellet do Nor, of St. Übe's, Boinando, for Lisbco: ; Diligeoti, of ditto, Gowen, for ditto; Berafin, of ditto. Ferrer, ditto ; and one collier , iu Wind W. Mir 1.5. Arrived, Martin, of St. Kitts, Baker, frotu Li. verpool, for Martinique; Helen, of Greettork, Catuntn-11, from Li, bon. illtrrury, of and (dr Bristol, IVerks. BRISTOL, JUNT 19. Came in the Concord, Wilson, and Severn Powell, flue B ar b a d os . ; S UPSCX . Midd y , sa d Ulysse., Butler, fens kr, I'Meect's ; Rover, Vest', ; Jarert, Lund ; and West Wm., Jenkins ' from Santa Cruz; King David, Shilstune from Nevis; Brist o l V u luute s e. J arv i s , f rom Antigua; rs Betsey, Bayley, from Grenada; Sophia, Prima*, fano Draisrul ; Paquette, —, from Viagra; Coln., EfiOrd, from Nisulinisil bind ; —, from in ; Traveller * —.—, from Guernsey ; Surprise, Dior, hula Wales ford • L'llertair, —,from Multa; and Commerce, Hursevrell, ford; Lisboa FROM LLOYD'S LIST. ' JVNE et.—Arrived the Ni m bl e , Lor; to avid Jane, Grabsva, kora Oporto; Lady Wood, Ilascps, for St. Kitt's ; Friends, Broderick. from Almelo Islar.ds; sot the named+, Jackson, front rayalav-faitad.tbe Rose, Caen, for 31artiniqtae ; Brilliant, Nelson, for Oporto; and the Broi Lei s, Scott, fur Liabon. MEETINGS OF CREDITORS AT GUILDHALL, 70-IROAROW. I. R James Critchley, Nottingham, draper - - 1 :1 James Oakley, St. Joistes-atreet, West-Smithfield, betistamd.inaker - -t: 1) - . Joseph Voudan, Sooth-street, West-square, Lambeth, - Surrey, victnaller - - - 3 li James Day, Commercial-rand, Middlesex, merchant - 3 1 J. 11. M. Reid, Red Ltoo-street, Holborn, slum•rasker 3 1•r John Hutt hissen, Lamb's Conduit-street, !tannery. square, tea-denier - - - 3 11 Isaac Dec, Gray's Inn.lane, Middlesex, victualler - 313 WiSimi Douglas, IVare, Ileitfordshire, eheeseinonser 3 10 John Baptist Austin, Kentish-Town, Middlesex, dro , :rist - - 3 13 - Echlin:4l Cooper, Betide:ill, Middlesex. carpenter - 311 ‘Vi 1 114i13 Atkinson, Austin- Friars, London, merchant 3 1 Tlonnas Ilarrisun,Canionitie-street, Laindoo, stationer 3 13 Joint Cooper Wallis, White Horse•yard, Coleman stinet, London, farrier . 3 11 Samuel Jackson, Bermondsey, Surrey, woolstapler • I I John Thumpsou, late of Philpot-laiir. Loudon, pro. vision-broker - - I Is Andrew 'limier, Little l'ortland.street, coach-maker s It Philip Russel, Nheerneas, Kent, slop-seller . - 11 II William Parnell, Stiniey-laue, Southwark, common - - brewer - . s it Thomas Woodward, jun. laic of Ride, Suffolk, shop. keeper - - I 11 JO l lll Browse, - - late ef Threadntedle.street, London, money-seritener - - . a 12 ‘Villiltin Oakley, William Overdid, and William Smith • Oakley, Churcli.Mrect, Southwark. wool-staplers - I I Julie Wighlmse, George-street, /'crater-lanc, haber dasher - I 11 - Benjamin Tahoe.. Bond- street, Middlesex, bookseller I is William Whittinglmiu, Lyon, Norfolk, painter . I 1 Thomas Caithness, now or late of New Bond.strect, watchmaker - I I - DIVIDENDS. flauesel Palliest, late of Little Coggesltall, Essex, . 10 inaltster 111,c.es Apr, City-Chambers London 44r-owner - It Richard Brook Ponalett, Es:st•lane, Bermondsey, coal. • , . . merchant - . Cornelius Charlton, late of East Fan cier, Kent, yetimaa t James lurkipp, jun. Battle, Susses, carpenter . I t James Cuuk, Bristol, loAing.glnas.manufacourer - 14 John Henry Schneider Wow-lane London, merchant I I Jelin Kaight, Lower elapton, Middlesex, convekaadler It Ann Darley, Holborn, Middlesex, victualler - - I I Humphrey Richard Joues,Type-street, Fiusburyirmiate, coofertiuner . - . 1I James Bacon, Ilughes-lields, Deptford, Kest, victualler I CERTIFICATES. John Lyon, late of N b•plact, Gray's lowtsse, . nioney.serirener. John Shale, lair of ihoe•laor, London, cropper-plate mita John Watson the younger, of Prestos, Lancaster, cotta- simmer. _ _ _ So, oei Rirhartimm, of Token•House-Yard, Loudon, vim f b auL Throphilso Clive, of Token•Hoose-Yord, Leaden, am' chant. PRICE OF STOCKS YESTERDAY. Bank Stock 3 per Cent. Reduced 7" 6 93 4 per Cent B siii Lon; Annuities lsi 9-1611 ts .. _ India BOWS Exeleeqaer Ma ........ Coarolalhor Tiff T. BISH, fleek-Breker, 4, Grabill, sadg, Marini-Crow. MARRIAGE On Tuesday, time tgth, at St. James's Church, Math, Mr. Walter Gledhill, of Jerulyn•eltret, to Misr Kale's, dais& ter of the late John Kes,gbt, Esq. of Hilary Hauser, Desca. HIGH WATER, THIS DAY, AT LONDON BRIDGE Mars. •3 was. after 3 I gl4lll. 10 IWO. after 6 LON DON :—Prlrie4 by C. SMITH, No. 1, Clasootb-lao , and publinbed at No. IS, Dock of St. Cknsrt'rCkresb. Strand, by J WHITE, of saw place. be 7 id ban MUM Jvbi mlll Dri .4 lies St LIU %in iiiri ow le N To it; 4*i fr. fti