The British Press; or, Morning Literary Advertiser.
London, England, 1825-04-28 00:00:00

EAST INDIA HOUSE.
A General Court of the East India Company was held yesterday,
at their house in Leadenhall-street.
CAMPRELI. MARJORIB•NNS, Esq. in the Chair:.
The Stec read the minutes of the proceedings of the last
Court.
FIRST ASSISTANT) TN THE OFFICE OF SURVEYOR.
OF BUILDINGS.
The CNAT•IiI•W said it became his duty to inform the itiamie-
tors that this Court Lad been specially summoned, in conformity to
the 17th section of the 6th chapter of the 87-laws, for the purpose
of submitting to it for confirmation, the Resolution of the General
Court of the 211 ultimo, approving of the Resolution of the Court
of Directors of the ?filth January last, for the appointment of a per-
son in the capacity of First Asaistant in the office of Surveyor of
Buildings, at a salary of 3501. per annum.
The question was put upon the Resolution, and it was confirmed
accordingly.
PENSION TO SIR JOHN M A LCOLSI.
The CwataltlaW said he had to inform the Proprietors that this
Court had been further made special, for the purpose of submitting
for confirmation the Resolution of the General Court of the 21d
ultimo, approving the Resolution of the Court of Director' of the
sth of January last, granting to Major-General Sir John 31a1-
colm, G.C.B. a pension of 1,0001. per annum, in consideration of the
eminent services, both civil and military, which had been rendered
by him during a long period of active service. He should content
himself with moving--" That this Court do confirm the Reso-
lution."
Sir C. FORBES not having been present at the last General
Court, at which this Resolution was carried, felt extremely desi-
rous of expressing his cordial approbation of the measure, and his
opinion, that in conferring this mark of their esteem upon Sir John
Malcolm, they were merely doing justice to the merits and services
of that distinguished individual. If that respected and gallant in.
dividual had performed no other service than that of putting an end
to an unnecessary and hazardous war, he was fully entitled to their
gratitude, and the present recompence. The manner in which Sir
J.Maloolm had conducted the negotiation to which he had alluded,
was deserving of the highest praise and comrneodatitei. IVith re-
spect to the policy of that war, Sir J. Malcolm bad nothing to do.
but it was certainly desirabte that it should be terminated as soon as
possible, and he had succeeded in that object. Ile (Sir C. Forbes)
felt an unfeigned admiration sad respect for the services of the gal-
lant General, from the earliest period of his connection with India.
Helmet known him tor a spare of thirty years, and was satisfied
that there existed no individual more deserving of respect as an offi-
cer and a man. With those feelings, he could i.ot but express
his great satisfaction and cordial concurrence with the present
vote.

WEST INDIA COMPANY.,
TO THE EDITOR OF THE BRITISH PRESS.
Sig,—ln this period of public - when the abundance
of capital is daily '-arise to to advance the trite.

prosperity,
, ..- giving , ... new projects ... .__.
rests of foreign nations,it is melancholy to observe,that measures de-
digned to benefit the possessions prom own country are assailed with
rancour and the grossest misrepresentation. A pamphlet has lately
appeared, entitled " Observations on the West India Company
Bill." professing to embody all the arguments that can be adduced
against that measure, and prophesying that those who take its
shares will assuredly lam their money. The tone of the whole
pamphlet proclaims it to be the production of an interested opponent ;
it betrays in every page its author's dread, that whatever is likely
to benefit the West Indies will endanger his own " Free Labours'
'scheme, and abridge his anticipated profits. This motive is so ob-
vious as to disarm the pubhcation of its intended effect ; but as the
more the advantages of the Bill aye canvassed, the more they will
be apparent, and for the satiaractiqn of ;tote shareholder* who are
imperfectly acquainted with the nature' West India securities, it
may be worth while to ezpote the fallacies with which it seeks to
delude the public. .
The objections deserving reply ;hay be darned under three heads.
First—That for a miles of years sugar-pito jag has been a ruinous
business ; the Colonial Assemblies„ as well as Parliamentary
Committees, having stated that loaf per edit could not be obtained
on the capital invested ; that it iii, therefore, absurd to suppose that
six per cent. could be given fur any loan of money where good secu-
rity existed.
Secondly—That the concerns of priests merchants must always
be better managed than those of a public company; and as all
{Vest India merchants are now drawingln their advances, it is a
decisive proof that the system is a bad dire, and ought to be aban-
doned.
Thirdly—That a public company will increase the evils of slavery:
properties may hereafter fall into Its possession, and if it remove
distress and enhance the value of slaves, as ia contemplated, it
must increase the difficulty of metuunission, and vendee the pros-
pect of emancipation more distant.
These propositions combine, I believe, all the arguments against
the Bill, ant it now remains to examine their accuracy, and to
show how far they are entitled ito public attention. It is at tied
freely Admitted that the West India Interests labour under very Rau.
nerd distress; and as the statements of the Local Legialatures an
perfectly correct, that the low prices of produce are Inadequate to
defray the cost of cultivation, it is requisite briefly to explain the
causes of this depression. It is not necessary to expatiate on the
vicissitudes which have always marked the progress of sugar culti-
vation. It is sufficient to observe, that whatever nosy have been the
fluctuations in property in this country during the last 30 years,
they have been much exceeded by those in the colonies. Besides
the casualties incidental to a state of war, a number of circumstances
conspired to encourage speculation. The extraordinary inducement
held out to augment cultivation in the British possessions, subse-
quent to the insurrection In St. Domingo, naturally created a west
spirit of adventure; and these eventful changes will aatisfactorily ac-
count for the falling of so many estates into the hands of creditors,
without impugning the general advantages of the colonial system.
With respect to any estimate of the return which properties are now
yielding, it must be apparent that a specified per tentage must be
entirely a relative term, having reference to the amount of mochas.,
money given for the estate. Persons not intimately acquainted
with West India properties are apt to labour under misapprehen-
sion in this particular, and to confound depression which is ac-
Mdental with that which is permanent. It is easy to illustrate
this point. Every one remembers that immediately after the peace
there arose a great demand for colonial produce; prices advanced
in an extraordinary degree ; and It was reasonable to suppose that a
corresponding change would succeed in the West Indies, leading to
a material enhancement in the value of property. This brilliant
prospect was but of short duration ; a sad reverse ensued, and those
who had made purchases discovered that the yearly income they
obtained fell far short of their expectation. It cannot be denied
that, like many speculations in land in this country, sugar planta-
tions were carried far beyond their reasonable value. The
proprietors, therefore, might conscientiously declare, that they
were 'obtaining but a miserable pittance, in proportion to
the capital invested, while at the same tune the property
itself is not necessarily reduced in value. Certainly their
sufferings could not properly be an object of national relief.
They might expect the answer given the farmers at home a few
years back—" The distress you complain of is much to be com-
miserated, but you yourselves alone are to blame—the cause is
simply that you gave too much money for your estates." 'l'his is
advanced without the least hesitation, both because it is necessary
to explain the many changes that have taken place among pro-
prietors in the West Indies, and because great distress may exist
from totally different causes, as is the case at present. It should
never be forgotten, that as properties may be elevated above, so
may they be depressed below, their equitable value. This latter,
'then, is the evil of which the West Indians now complain. They
repine not that sugar has declined from 80s. per cwt., but that it
has fallen lower than could have been contemplated as possible;
and that the reduction has proceeded from circumstances over which
they have no control, and against which they deemed themselves
secured by the assurances of Parliament. So long as the prices of
our sugar are dependent upon those of the Continent, it is obvious
that the fertile soil of South America, assisted by the Slave Trade
in full activity, can produce the article at so low a rate as to an-
nihilate the hope of profit on that which is grown in the Old
British Colonies. This, however, which is the true cause of the
present distress, leads to a very different conclusion from what is
nefariously insinuated by the writer of the pamphlet tow under
diadasiora. It shows' that the embarrassments of the planters are
caused, not from the system beings bad one. but because foreigners
possess advantages which are denied to our own subjects.
Having thus traced the circunstaaces which may occasion a de.
preciation of West India property, It is easy to perceive, that
a {hough at, the present moment a low return is yielded, still sugar.
rating, fairly speaking, has been most benehcial and Profitable.
he extraordinary assertion, that it has, generally tai:en, ever
been, not only otherwise, but ruinous, proves in its author a most
convenient disregard of veracity, and shows that he considers him-
self as writing for readers utterly ignorant of the subject- It is
perfectly true, that estates innamerable have been surrendered to
creditors; but what does this prove ?--not that the business in the
aggregate has been bad, but simply that great fluctuations have
occurred—greater than can in any probability happen again.
To estebliali the proposition of this writer, it 'would be essential
to show, that from the, earliest period things have be-n progres-
sively getting worse ; and that no temporary gleam of prosperity
has ever enlighted our Transatlantic possessions. If he insists on
the number of planters who have been ruined by their speculations,
in common justice he should admit the number of those who have
succeeded ; who at a favourable juncture have disposed of their
properties, and have returned to this country to enjoy their earn-
ings. Ludicrous as it may appear to waste time in arguing that
V. est India cultivation has yielded profit, I cannot retrain from
employing one simple mode of at once displaying to the most
careless observer, the extent of its advantages. 'I he amount of
imports from the Colonies annually exceeds eight millions, while
the exports from this country, after deducting what may be re.
shipped from some of the islands to the South American States,
are equal to about three millions and a half. There is thus obvi-
ously a balance of four and a half millions flowing to this country.
Now, for the sake of argument, let it even be supposed, that no
part of this may be denominated clear gain or income, but that it
is all consumed in payment of loans made at sonic former period,
by merchants in the country. It is clear, then, that these loans must
either have been made previous,or !subsequent to the abolition of the
Slave Trade. If subsequent, let us imagine in what shape they went
out to the Colonies: there is no uullion, no gold or silver
exported; they must, therefore, have gone out in manufactures;
that is to say, the loan since 1807 are included in the 3i millions,
which form the total amount of our exports: if previous to 1807,
we have simply to take in addition the value of the commodities
sent to Africa, and also a fair return for the capital employed in the
slave ships, amounting to a few hundred thousand pounds, to be
placed opposite the millions obtained by this country. By thus taking
the trade in a comprehensive view, and fairly compassing all its ra-
mifications, we fully perceive that though great distress has fre-
quently prevailed, yet taken nationally, at has been immensely pro-
ductive; and i do fearlessly challenge contradiction, when I affirm
that the British empire does not affind another instance of the in.
vestment of stock affording such lucrative returns as \Vest India
plantations have done, including every vicissitude, from the first
conveyance of the slaves from Africa to the present moment. This
mode of meeting the question, and exhibiting a general balance of
the trade, at once exposes the shallow sophistry of the assailant of
the West India Company. I trust it has been unanswerably shown
that the number of estates which from time to time have been
given up to creditors, has arisen from speculations, from great Pin-
tuations in price, from changes in the political world, and in a
word, from causes which ate quite accidental. But this writer, per-
ceiving his errors detected, may turn round and exclaim—" Even
admitting the distress In former times to have been accidental, and
that, in the main, sugar planting has been profitable, you
bare admitted that such, at all events, is not the case at present,
and that, as 4 per cent, cannot now be obtained on the capital in-
vested, it is manifest no opportunity is afforded to lend out money
OS mortgage at 6 per cent.' It is not a little singular, that after
the most mature deliberation I could not produce a more decisive
argument in favour of the West India Company than what is here
urged against it. It is because matters are very much depressed in
the West Indies beyond ordinaty, that 1 conceive loans made
at present must be particularly safe. It is in times when a
borrower of money is in temporary prosperity, that much risk is run
by his creditor, as then prices, on which his stability depends, may
be regarded as being at an unnatural rate, and some reverse may
infallibly be expected. But when a borrower is in adversity, persons
examine more closely into his securities ; and as any change is
likely to be for the better, the capitalist is then sure to derive the
advantage. if, for example, the price of wheat were 120 s. the
quarter, and the rent of land adjusted in proportion, a loan to a
farmer taking security on this high estimate must be deemed pe-
culiarly hazardous, as so high a price as 120 s. might justly be con.
I sidered unnatural, and likely to be of short continuance. But if
the price of wheat was only 24e. per quarter, and the rent and de-
clared value of the farm reduced in a similar ratio, a loan would
plainly be perfectly safe, as it is to be supposed a speedy improve-
I went should be anticipated. Thus it is as to colonial produce;
If sugar were selling at 802. per cwt. I acknowledge I should find
difficulty in procuring satisfactory arguments to induce individuals
to take shares in the new Company ; but when prices are down so
low as 30s. ; when that depression proceeds from the continuation
of the slave trade by foreign States; whe i his Majesty's Ministers
are continually declaring that they will eventually succeed in sup-
praising the traffic, and have it declared ;army; when thus the
distresses of the planters are merely accidental ; and when it has
been proved that West India cultivation is in the aggregate
most profitable, it is manifest Met a were desirable or season:lls

Lieutenant-General Tiro'Nrow concurred In the propriety of
the Resolution now before the Court. At the same time, he wished
to take the present opportunity of 'tying, he hoped the talents of
Sir J. Malcolm would not be lost tolhe country and the Er.st India
Company, on account of the present pension, in case of an oppor-
tunity again occurring, for availing themselves of his services.
The Resolution was then confirmed.

SALARIES OF JUDGES IN INDIA. &c.
The CHAIR MAN said he had to lay before the Proprietors the
draft of a Bill now before Parliament, for further regulating the
payment of the salaries to the Judges of his Majesty's Courts in
India, and the Bishop of Calcutta; and for authorising the trans.
portation of offenders from the island of St. Helena: and for pro-
viding for the administration of justice in Singapore and Malacca,
and in certain possessions on the coast of Coromandel anti in the
Northern Circars.

Mr. OAHAGAH could not let the Bill to which their attention
had been called pass :Lb eilentio. An Bon. Baronet (Sir M. W.
Ridley) had given notice of a motion in the House of Commons,
for the purpose of classifying and simplifying the statute law, the
confused nature of which had excited the observation of the
highest law authority in the kingdom—he meant the Lord Chan-
cellor, Now at the very time that those alterations and improve-
inents were in progress, what did the present Bill do ? It classed
burglars and Bishops in the provisions of the same Act of Parlia-
nient ; and gave the Bishop of Calcutta a claim upon his revenue
by the same provision that defined the transportation of felons
from St. Helena. Ile could discover no reason for this anomaly,
except it were done fur the purpose of saving a sheet of foolscap.
(A laugh.)
Mr. C. Fotwts entirely concurred in the remarks which had
fallen from the Honourable Proprietor with respect to the confu-
sion that existed in the diet of the Bill.
Mr. W. ASTELY. explained, that in framing the present Bill
he had followed the precedent of the 53d of his late Majesty.
The Hon. DOUGLAS KINNAIRD adverted to the case of an
,dividual named Arnell, who had been transported from India
under circumstances of peculiar severity. lie thought that allow-
ing the necessity of the power to transport individuals from India
being vested in the superior authorities, due provision should be
always made for the exercise of that power in the most moderate
manner possible, and without unnecessary suffering to the indivi-
duals liable to deportation.
The CHAIR MAN said, those provisions could not be introduced
into the present Bill.
LOSS OF THE KENT EAST INDIAMA N.
The CHAIRMAN said, that as he had • near connection of his
owe who was in command of the Kent at the time of its loss he
had not voted no the question when under consideration before the
Court of Proprietors ; he would also on the present occasion beg
leave towitlss:raw.

The chair was then taken by Sir G. Rnistwsnx, who submitted
to the Court the following Resolution of the Court of Directon of
the 30th ult.—
" That It is the opinion of this Court, that the Commander and
OWTICTI of the ship Kent, are fully acquitted from all imputation of
neglect or misconduct in respect to the loss of that ship.'
Sir C. FOHBEs did not rise to offer any objection to the resolu-
tion ; but was desirous of having the documents and papers con-
nected with tile inquiry laid before the Court.
The CHAIRMAN said, the Honourable Proprietor had reminded
him of an omission on his part. He should have stated that
previous to the period appointed for the ballot, the papers and evi-
dence in question should be laid on the table.
Sit C. Foawas said, he would confine himself to one or two ob-
servations on the subject before the Court.
The lion. I). KINNAIRD thought that line of proceeding pre-
mature, before the documents were submitted to the consideration
of the Court.

The CHAIRMAN did net see that the course intended to be pur-
sued by the !ion. Proprietor (Sir C. Forbes) was out of order or
irregular.
Sir C. FowaEs said, he had no intention to offer any opposition
to the resolution in the absence of doeementary evidence ; on the
contrary, be was satisfied the conduct of all parties concerned had
been what it ought to be. and that every exertion was made which
the distressing situation of circumstances permitted. lie, however,
felt much disposed to censure the practice pursued in sending out
ships to India singly, and unaccompanied by any consort. This
practice hail originated in the desire of the Directors to avoid the
payment of demurrage and salvage to vessels concerned in saving
the crews or cargoes of other ships, and the consequence had been
that the Company had lost to an immense amount, as was to be ex-
pected. If the bent had been accompanied by a consort, much
more might have been effected, not that he meant to undervalue the
exertions which had been made on the occasion. He would next al-
lude to the number of persons crowded into the Company's ships--
750 in the use of the Kent, which was at least 100 or 150 more
than she should have carried. He repeated he had no intention to
depreciate the exertions of the officers, &c. of the Kent—he doubted
not every, thing practicable had been done, and he did not think
any individual deserving of blame, with the exception of the officer
who entered the spirit-room so Incautiously with a lighted candle,
which caused the conflagration.
The Hon. H. LINDSAY denied that the Kent had been over-
loadziL, as had been stated by the Hon. Baronet.
The CitataMAN said, that Sir Alexander Cliristie, the Inspector
of the Boyd Navy, hail expressed his opinion of the eur.rior at-
commodation afforded on board Indiamen, to that given in his
Majesty's ships. The number of persons on board the Kent was
1511 f, instead of 750, as stated by the Hon. Baronet. With regard
to the despatch of ships in company, that subject had been maturely
considered, and the difficulties were found to be greater than any
possible advantage* which could result from the practice. Before
he concluded, he wished to state a circumstance connected with the
loss of the Kent, which was not generally known to the public, and
reflected great credit on the passengers on board the brig that assisted
the Kent. The persons who were cabin passengers in the brig
were miners proceeding from Ireland to South America, and when
a compensation for their humane exertions was offered them, they
requested it might be appropriated to the use of the infirmary
belonging to a town in Galway frnm which they came. (Hear.)
It was unnecessary to say that this wish was complied with.
Mr. CARRUTHERS said, that as it had been stated by the Hon.
Aar:. (Sir C. Forbes) that the disastrous loss of the Kent had
o:curred in consequence of an officer going into the spirit-room
with a lighted candle, lie wished to explain the circumstances
connected with that event. The candle was contained in the box
he now held in hie hand, which was technically called a bull's-
eye (the Honourable Proprietor exhibited a small tin lantern,
with a glass front). In consequence of the lurching of the ship,
while the officer in question was in the spirit room, he handed
the lantern to a man then present, and directed him to hold
it while he went on deck to procure farther assistance. In the ab-
sence of the officer the snip again lurched, and a cask of spirits
bursting, communicated with the small taper contained in the bull's
eye, and ignition immediately took place. Those were the precise
ctreumetanees of the case.
Mr. Wasaoaciuse had conversed with the officer in command
of the troops on board the Kent, and learned that the vessel was
not overloaded, but that every necessary accommodation was
afforded to the men.

The ballot upon the Resolution was appointed to take plats on
‘Vednesday, the llth May, and the Court adjourned.

Yesterday evening the Freemasons' Grand Anntial May
Festival took place at the Freemasons' Tavern, when up-
wards of 400 of that class sat down to a sumptuous dinner.
His Royal Highness the I)uke of Sussex in the Chair.
The Munster Bar met on Saturday in the Court of Ap-
peals, when an address to John Franks, Esq. was unanimously
agreed to, expressive of their high estimation of that moat worthy
and respected gentleman, snit the gratification they individually
felt at his appointment to the Chief Justiceihip of Calcutta.
'I he recently-published Novel of Every 1)?5, Occurrences
has produced a considerable sensation in the higher circles, as a
most amusing and caustic, though not ill-natured picture of domes-
tic life in the country. Few writers have brought together so
many graphic sketches of character exhibited In so many ludicrous
attitudes.

THE BRITISH PRESS.

opportunity could not-possibly be offered far a mobil! Company to
advantageously invest its capital.
As great stress is frequently laid on the instability of a system
where its supporters are so much burdened with debt, it is yet
necomary to give some explanation, to prevent misunderstanding
in this particular. The writer of the pamphlet asserts, that debt is
the chronical disease of the West Indies. That It is a disease I
cannot adroit, hut most assuredly it is the distinguishing charac-
teristic of all colonies. No person possessed of twenty thousand
pounds is likely to emigrate, and perspire away the best part of hb
life in a tropical ...dimate.
It is the opportunity afforded to the enterprising and industrious,
to emigrate to the Colonies, and through the assistance they derive
from capitaiiits in this t,ountry, ultimately to acquire properties,
that Mr. Brougham Po mianaweraLly demonstrates to be the chief
advantage of the Colonial system. In place, then, of holding
forth, in opposition to the establislunent of a Company, the want of
means existing abroad, it should rather be adduced as a striking
argument in favour of its expediency.; There are few persons who
have consigned property to the Colonic:, who are not aware how
very dilatory returns are in being realised.. This circumstance,
which at first view would lead to a conclusion to condemn every
thing professing to be connected with the West Indies, in reality
operates diametrically the contrary. The capital employed in a
sugar plantation may be divided into what is hied and what is cir-
culating. It Is well known that from the expensive nature of the
buildings, as well as from the machinery employed to lessen the
labour of the negroes, the amount of fixed capital far exceeds what
is sunk in agricultural cultivation in this country. By this means
a planter may be possessed of considerable property, and yet labour
under great inconvenience for want of ready money to meet his
contingent expenseS. Of the effect of this privation upon the
comforts of the negroes 1 shall hereafter treat; I now wish to point
out the class of persons who most suffer from the want of means
on , the part of the planter. It unfortunately happens that the
difficulty which imiustrioua tradesmen frequently meet with in
disposing of their wares at home, induces them to overstock the
Colonies. Oreat competition in making aides abroad naturally
succeeds, and the result is, that numbers of storekeepers are ready
to sell to planters at long credits. As this class of persons, from
the mimes assigned, possess not the ability to make purchases for
ready money, we here perceive, at one view, the prolific source of
evils attendant upon the planter, as well as upon the jetailer ; the
former's profits are abridged, from ti.e unfavourable made in which
he lays in Me supplks, and the latter experiences accumulated dis-
tress, from being unable to remain long out of his money. All
these evils the new Company will at once supersede; what it re-
quires is, merely to have a handsome rate of interest for the ca-
pital invested, and fee the attainment of that end abundance of se-
curities may be found. I have thus demonstrated the general
advantages of the plan, and in my next I will show that it can be
better undertakes by a public company than by private merchants.
36th April. I NI/EX.

COLONEL TRENCH'S PLAN.