The British Press; or, Morning Literary Advertiser.
London, England, 1804-06-21 00:00:00

HAYMARKVI"CHEATRE.

The Grand Dramatic Ballet, which has been so
long in preparation at this Theatre, and has excited
so much expi lotion, was prodnce I last night. It
is intided The Enchanted Island, and ;1 the deligh.-
ful story of Ski AILESP EA VI'S Tear es', represented in
a very grand speetacle, aid. d by the charms of
en vie, singing, and dancing. FAWCETT, who
has comma:tea this Ballet, has very happily se-
Idled all the interesting scenes of the play ; while
he has judiciously commenced his store with the in-
cidents which Prospers so beautifully narrates to his
daughter (in The Tempest) as preceding their corn
ing to the Island. The story is very distindly told
in tins Ballet, and every circumstance is seised upon,
to grace and embellish it. The scenery and decora-
tior.s arc very splendid. The Bark,from whichProtpere
and Miranda were thrust into a Towns beat to perish,
is one of the most accurate representations we ever
saw upon the stage. Calihaa's grotto it peculiarly
rich and beautiful ; being decorated with various
shells, corals, and chrystals ; and the last seem that
of a temple, presented an instance of novel grandeur.
The aging, in all the principal charaaws of this
piece, is extremely fine. Mr. Beasts performed
F,rdasaad; Mr. G. D'Eov Lt.; Caput; Miss B.
M [SAO?, Miranda; and Master Osc • a Braes,
Ar.el; etch with all the spirit, the grace, the vigour
of their respeCtive parts. Miss DANIELS was loudly
encored and applauded in a song towards the con-
clusion of the piece. The house was crowded in
every part ; the ballet was received with uncommon
applause, and the second representation given out
with unanimous approbation.

On Tuesday evening, the ROYAL FAMILY walked
in Richmond Gardens.

Yesterday morning, soon after nine o'clock, His
MAJasr r, accompanied by the Dukes of KENT and
Princesses Soritt A and AMeLIA, took
an airing on horseback, in the neighbourhood of
Brentford and Ealing.

Fier MAJRITY and the PRINCPAIES, attended by
the Countess of Ari.s.sausty, followed in an open
carriage.

Last night was married. bythe Bishop of C ror, r,
vt the Earl of WESTssortaL•Nu'it, Lord Mltt. I '4 GOON,
T's the Right Hon. Lady AUGUSTA FA NE. The
ceremony took place about nine o'clock, and they
immediately set off for Os:erly Park, the seat of
Lord Vit. rim. Her Ladyship's dress was, a white
gannet coat, with a plain muslin robe ; sleeves and
Trimming of Brussels lace ; a trr.iw hat. of a new
manufatture, with a bunch of white flowers, and a
snperb Brussels lace veil.

The Duke of Sr. ALVAN'S gives a grand dinner
this dsy.
This day the Earl of FirzwitArsu gives a poli-
tical dinner.

The Duke and Duchess of BEDFORD will, in A
few days, set out for Cheltenham, where they pro-
p,se to remain for a month or two.
Lady WA RR left town on Saturday for her seat at
iluasant•srove, Footscray, Ken;.
The Right Hon. Lord Buown Low left town on
Saturday for Cheltenham.

At a .Common Hall held at Stamford on Thurs-
day, CHARLES CHAPLIN, Esq. M.P. of Rlankney.
vas chosen Recorder of that Borough, in place of
the late Marquis of Exam,.
The Rev. as. Sant. ra, A. M. is instituted to the
Vicatage of Clare, on the presentation of the limo,
la the net •)f 1.4 Duchy of Lancaster.

INDIA kousi.

Yesterday. was held a General Court of the
Proprietors of India Stock.
The to/lowing Gentlemen ►ere re-elected to be a
Committee for impelling the Bye-Laws of the East
India Company foe the year entningi Vixt

j 6.11,0 ]alive Anferttein,
Witliam Drew, Esq.
Peter Holierd, E.q.
Robert Hunter, Esq.
Sir Ilenry Strachey, But.
George Wilson'
George Samuel Wag', Esq.
The Chairman laid before the Court the several

paper? that had been presented to the House of

Commons.
On a Motion from the Chair, it was unanimously
resolved—

That the Dividend on the Capital Stack of the Company,
for the half-year, menraesieing the sth January la.t, and end
in( the sth July next, be 5* per cent.

The Chairman then acquainted the Court, that
advicei had been received overland from India,
which brought the important intelligence of a Treaty
of Peace with the Rajah of Herar and Dowlut
Row Scindia, having taken place on the 30th De-
cember last

The Adviees from India and the Treaties were
then read.

The Chairman then declared the Court to be
made special, by desire of twelve Pr priewrs, for
the purpose of reconsidering the INDEMNITY ACT,
so far as relates to East India Stock.

Mr. Pc tea MOuRE spoke the following effeCt :
" Sir, I have to submit to this Coui t, a Mozion, the
ebjeCt of which is, to place upon i:s just principles
the manner of levying the Income Tax, as it
affetts property in India stock. I know I have
against me the opinion of your Counsel, to whose
learning and legal knowledge I am willing to
yield up my own judgment, whenever I find that
is not impossible. Whatever falls fi om that Learned
Gentleman, who is respelled by no one more
than by myself, destrviis the mn,.r profound at-
tention. But with all the investigation I hay.
anxiously Oven to this subject, I am unable to agree
with him in his opinion of the operation of the all.
I beg leave now to read the motion I propose to
offer to this Court, that I may the better be under-
svmd in what I have to urge to the attention of the
Court on this subjed.
That this Court do recommend it to the Court of Directors,
to faCJIIIi ler the Act respecting the Property Tea, and if they
shall be of opinion that the Regulation Act of 1793 precludes
the payment of st.i. tax from the general fund of the tom-
mere al profits of the Company I.revions to the distribution of
the respective quotas of the Proprietory, that the said Court be
•-c 'emended agrin to apply to His Maje.ty's Ministers and
the Commissioners for the Affiiirs of India to give their sanction
to such measures as .hall be sufficient to authorise the tax on
the Company's profits, to be charged a. eu ortheary outgoing
M the Company.

" I speak, Sir, with a perfeft conviCtion, that :he
Court of Dire Clots will most cheerfully accede to
the wishes of this Court, should I be fortunate

enough to convince the Court of the necessity of
this measure. I will not at present discuss the legal
construdion and effed of the ad of 1793. The evil
I complain of is, that the Income Tax is levied on
the Proprietors' dividend ; and that may have a re-
reedy in the legal construdion of the all, which
may be matter for the reconsideration of the learned
Counsel, when the whole subjea is reviewed. But
I could not be confined to that point, because it
may not turn out as 1 could wish. The merits and
services of the Company, their contributions to
the public wants, their exertions for the common
welfate, as well as for the prosperity of their own
possessions, would entitle them to attention from
the G ivernment, and would give them a claim to
relief in this matter, if that i. not afforded by the
ad as it stands ; and I am sure the Executive of this
Company will pursue our interests, and respell our
rights, with the dignity that becomes their own cha-
nger, the trust reposed in them, and the greatness
of the Company they represent in that department.
Sir, 1 have wished that my proposition should be a
recommendation to the Court of Directors, and I
have forborne to speak of peremptory instrudions,
because I have felt what I have already stated as to
their characters and wishes. The extent of the
Company's territories, their acquisitions, their in-
creasing resources, are so many claims on the Go-
vernment. I hear a great deal in another place (the
House of Commons) of a disposeable force—The
Company gives a disposeable force to the Empire—
We give them an army ; we give them a navy • we
give them an army exclusively at oar cost. Lok
to the events in India, aid then honestly declare
what we do for the country. If the words of the
present Ad do not, therefore, permit of relief from
that grievance I complain of, in behalf of the Pro.
rr ietors, I say we have a claim for special relief t and
I hope every man will agree with me in recorn..
mending that our Executive, in cooperation
with the Government, do find a remedy. Sir, I
hope, too, the time will come, when the application of
the acquisitions in India, and the general prosperity
of the Company, will warrant us to demand a spe-
cial dividend—aye, and that rremptorily too !
The Company, with a capital of six millions, and
with an increase on that capital of 200 per cent.
do not receive,fot all the hasard of that capital, more
than common interest. Sir they do not receive
any thiog of that commerlial interest for their
money, which the profits of trade would warrant
them to eaves% When the nature of the Company's
commerce, and its effects on the wealth, prosperity,
and grandeur of the empire, are considered; I am
sure the rate of common interest will nut be thought
a competent dividend ; but I shall not now pursue
that further. I only contend, that the co-operation
of our Executive and the Board of Controul ought
to be tried to its full extent and power, to redress the
gross wrong done to the Proprietor of India Stock
In the present mode of levying the Income Tax; and
we have a claim on Government for redress, if we
have not a legal right by the present law. Whether,
under the present AR, or some other Ad, the In-
come Tax ought to be levied on the profits before
the dividend is made, it being most unjust to levy
it on the dividend." Mr. Peter Moore concluded by
making his motion ; which being seconded,
The Chairman (Mr. ELPHINSTOIIO said, the
Court of Direftors are at all times willing to be
guided by the wishes of this Court. They have
Used all the means in their power to obtain the ob-
ject of this very motion. They have used every in-

. .
• •
ailment that dieiedity seligtited. with doe go•
vernment~ in the pursuit et dug Ajeet. ft* Court
pleases, the eortespondisee of the Diredors with
my Lord Castlereagh shall be read, which will Wore
effedually prove the disposition of the Diredors then
any thing I can say." .
Mr. Parra b100rt5...4" I first wish tire radiation
to be read which gale 14,000 tons of 'shipping to the
aid of Goyertuner.t. The Company have estf been
libetdl in aiding the Government. We will follow
that with an augmentation, If necessary. lam sure
I express nth mom than the feeling of the Company.
As long a the country may demand out ainietparce,
we will gite It."
The realutied alluded to wai then read after
which, the correspondence betvenen the Chairmaia
of the Court of Diredots and Laird Castlereagh was
read ; the former urging the justice of the claim of
the proprietors to be relieved from the Income, Tax
on their dividends, and the latter stating that the
meaning of the ad did not permit of such redress,
and submitting to the Diredors how far it would be
wise to press this matter with Government, consider-
ing the known liberal chandler of the Company's
coadnd towards the Government.

The CU A IRM• PI then said, " It may be proper to
read the opinion of our Counsel on the construdion
of the Income Tax Aft."
Mr, PKTIR MOORE--." I woilJ rather that it
should not be read."

The opinion of Mr. An•st (Counsel to the Court
of Diredors) was then read. It stated, that the
tax must be &dueled from the dividend, and could
not, according to the terms of the Ara, be paid be-
fore the dividend, as an outgoing charge.
Sir Srareesr Lusatacrum.—" It may not be im-
proper to call upon the Learned Gentleman (Mr.
Adam) to know if he has had occasion to change
his opinion since he gave it ?"
Mr. RANDALL J-ACKiO/1......" I cannot think it

would be proper to call on my Learned Friend to
give his opinion now, without consulting the docu-
ments on which it was given before. Thrt could
be only his recollellion of his former opinion. If
the present motion be carried, then the v: hole matter
will be open for reconsideration ; and my Learned
Friend may be again consulted by referring the case
again to him."
,ur STEPHEN LUSHINGTON.—" The question, I
think, lies in a very narrow compass. On legal
grouse!, the propricrors appear to have no claim to
redress. But the Gentleman who has brought for-
ward this motion has taken new ground. He has
shewn the great claim of the rnmpany on the Go-
vernment by their incalculable . vices. What,
indeed, have not the Company done the Govern-
ment, and the interests of the Empirt ? On this
ground, therefore, I think the desired objc:t ought
to be pursued. The Bank of England. I de-
dnas the tax out of the general profits on their ca-
pital. But then they are not restrained by a par-
ticular act. The DireCturs would do the same here,..
if they were not restrained by an aet."

Cat•totetme.--" I submit whistis.v it would not
be better if the first part of this motion were omit-
ted. I would recommend to reserve the latter part
only. and to avoid the reconsidering the legal
question. The motion would be as effeltual ; and
the result might be unanimity, to which something
ought always to be sacrificed.
Mr. P. tiplooss.—.. I do not think, that the aft
of 1793 restrains the Directors from dedueing the
tax from the profits before divided, as an outgoing

charge."
CH A I itrit AM.—" If you can throw a light cm Cut
subjeet, we shall be very glad."
Mr. RANDALL J ACRSON.—a Sir, in delivering my
sentiments, I am sure my Learned Friend will
grant to me. that difference of opinion does not
argue any disresped. Miserable, indeed, would
our profession be, if this were not so. I therefore
maintain, that, in abandoning the first part of this
motion. the strongest part would be given up. I
maintain, thAt the Direaors are not compelled to
deduEt the tax from tl,e dividend. If they were,
this monstrous injustice would result. Suppose
the company to be carrying on trade without pro-
fit. Many well informed pers'ns are of that opi-
nion, though others dissent from them. But it may
well be sot for there are many cornpli.:.rted inte-
rests in this immense concern, and it might tic shewn
how motives might exist for carrying on the tr.ide,
although yielding no profit. But if so, what is flit
consequence ? The proprietor would pay a tax pro.
fessedly levied, in this case, on profit, though we
received none.• It will be paid, you have your di.
vidend. Truer but it must be a dividend includ-
ing profit. 'there is nothing in the aa so com-
mand the Directors peremptorily to`deduct the tax
from the dividend. And why should my Hon.
Friend persist in his motion, if the former pert is to
be abandoned ? We have not much to hope from
the indulgence of the Government.. We give up all,
therefore, if we give up the legal ground. I shall
therefore, support the motion, with a view to "hew
the ground of reconsidering the legal case. The
tad ranks as an outgoing, as much as nny other
charge. Suppose a tax was laid ea our v thous
buildings, this would be deducted.feom the general
profits, as en ours..iing Yet. how does it differ from
the income tat ? When my Learned Friend answer-
ed isefore, he answered to a particular question. On
a reconsideration of the subjea, arising lions this
motion, the Direaors may begin by laying the
*bole case before them. I hope he will then say,
the Directors are not peremptorily commandA to
deduct the tax from the dividend ; and that, when
there is no profit. they are not bound to pay any
thing. Lord Castlereagh's letter states to the
Direaors, the imp.•licy of urging this matter, if
there is a legal ground, because of the more liberal
coudua in yielding the point. This is proof, that he
had his doubt ;as to the legal question. When his
Lord.hip t..iuks proper in .r)lirde to the liberal con-
duct of this Company, I would expose the scroll of
services they have rendered to the public. I --Imre
to say, there never was a company so enlarged in
their policy, so liberal, so treat in their conduct !
Sir, it is painful to see tLe course of things with re-
'pee to this Company. I am proud of their liberal
temper. But, Sir, lam pained to see how they
are treated. Rank, honours, patronage, all things
that ambition or rapacity can desire, are poured up.
on others, upon every body but the merchant, whose
property all these things are ! (greet, upplusite). Let
the Company gn on in their liberal course ! I wi•i'
them to do so, But let them no less denr.ind Justice.

I /

Let out Direetnts, therefore,
,e,ro to the Government
with the confidence our claim will be admitted, be-
cause they have the confidence that it ought to be ••
Mr. TWINING--" Sir, I cann.-it think we he, e
any legal ground for this claim. It appears to nal
evident, that it was the intention of the Legislate t* ; •
to impose this tax on our divider+. But the gm.. d
of the Company's merits is of a very different
turn ;on that we may well stand ; and on that v o
not despair of redress. I submit, however, oh r
it would be good policy to urge a legal eights, as
hazarding a defeat of our objet ?"
Mr. R. JACKSON. -44 Sir, I know it has been n-l• • d
what advantage will result, if the tax is not dedia •
ed from the dividend, since the proprietir must I t
the tax on his income, of which his dividend is pa.
I say, the advantage will he, in the repute a E ...-
India Funds, as a stock. If yoa profess top c
1001., dividend, and only pay 951. there anneal, a
wrong, and there is a disappointment ; and the vali e
lof a stock is according to its reputation. Hut, Si'
there may be Proprietors whose dividend is diit
sole income, and is within that income which Y
a& says shall not be taxed. Then, Sir.• what is , e
result? All such are deprived of their exempii;
They are not on an equality with other persons c,t
exempted income. And, if they bad tak •n away
their whole dividend (the tax not being ies i don
that), thay would not have paid the ten ;ice tat
all on the income. I theref.ire recommend that the
general profits be ascertained by nninns to be agreed
upon between the Officer of Government and the
Company, andithe tax deduSed from tha."
Mr. ST trinew Li. Ai I raceon--tt Sir, I nee leave to
trouble you with a very few words. The inh sex.,
tion of the regulating Bill, of itself, 'hews that site
have no legal groumt for this claim. I beg, Sirs.*
may be read ( ke Seelig,' Was th.W read). I think. Sir,
that will be found to be conclusive on this pot ar
0:e discussion As to the ground of merit, I thinS
it would not be well to ask to be re ad the 10401.. •
tons of shipping we granted the (loveraniter; oy /
remunerated for any other serviee. so* sioluut,n {
given to the public."
The Deer.. Y CH AMX AN (Mr. Giant`, „phyrii
that the Compativ provided a thnusfaitksms
tilising the whole Empire ; he etietel.E:.:-. it ,
WAS itSO the only organ of preseferiesfittrtetnizie.•
on in India ; the
.litropitsi Of ni•-tit, wait Veld-ores
complete. Yet *therr were diffidulties iu this guys:
don. He would not hazard being refireedatgain.;
The point was not sefiat tivh• thong of the- Lao,
but what the law said ' r•e-Dire.'-ve
the will of the Court- viith, ut ,e:leetia.-...0e
he threw this out by way of
Mr R. JACKSON said, the young Z.lei tPtilenr-ofe; Ativ,
•
Court, who, he supposad. Ms.( .appelisv.e; lists
the first time ( Mr •.:Ptepiren Lusting. Inv iindtkove-
the strongest seethe.' in the act, to su...sart
soning, which did honour to his •t.;,. s.
lents. Yet, he maintained, there was •. ••'.aaens
gal 1.•,; otind for die application to 'Cortrerit • - ,•
The t. re said, he should be jo •:
that.
Mr. Atiase was then called upon toax it
present opinion, as to the effect of the a:.-1 f,
said, after mature ennsideration, and /team, • •
had been argued there, he was decidedly -
cisely of the same opinion as formerly. Th-
section, so properly referred to by a rung m
WAS decisive. If the Court divide 110 per ce • .
previously paid the tax, it would he elitidhve I ett
cent, and another 5 percent. 'ditch was pr 1•;"
As to such Proprietors as have an into e n.iin
East India Stock, being th it whole incoh.e. ;in:*
being under the income on which the tax ate whey%
they are {by a clause in the nit) intitled to !Tittle
bnrsArents. He could not admit of an aigmnent.
from the hardship on the Priprirtors ; he itioir/.t
the aa imperative on the Diretints, toide'dua
tax from T.:le dividends.
Mr. Deputy Dreon said, h- thong'at ianth•
grounds of the motion completely removed.
The question was then put, 'and' the :notion
agreed to without a division. .