The National Register.
London, England, 1812-03-29 00:00:00

2(14

WEDNESDAY, MARCSI 25.
A meeting of the Court of Directors was held this day, Mr. Bonn-
e/nee-in the Chair, in order to consider of the termtbe upon which a re-
• could obtain ed from Go-

riewal of the Charter of the Company
vernment.
Some preliminary business occurred with respect to the capture of
the ship Ceylon, which closed with the regular expression of the ap-
probation of the Court, of the defence and of the conduct of all con-
cerned.
The Chairman then adverted to the principal cause for whiele the
'Meeting had been called, professed his intention of laying before the
Court several documents connected with the renewal of the Charter,
Which it was determined should be printed.
• The documents were read, but are too voluminous to give at length,
the following is their substancei
"It appearsthat Government have receded fromtheir original demand,
fie incorporating the Indian army with that of his Majesty, but insist
•n the Company admitting the Merchants of Great Britain to a parti-
• cipetionen the trade with India. Against this the Directois offer nu-
Wieroarareoments, from which they deduce, 46 that the opening of the
Indian trade to the subjaeitt of Great Britain, could not materially in-
crease, ether export of the mauufacturers of this country, or its com-
merce in the productions of India."
In taking a view of the political effect that might ensue from the
opening of the trade to British subject:, the following ; assage may
be considered to comprehend one of the chief considerations by which
the Government of this country has hitherto been influenced, in sus-
taining the system of exclusion to which the Conepany have, from their
!original establishment, so • rigidly adhered 4.'4 But a ivore serious
consequence than all these would still remain. A free trade to India
Would unavoidably draw after it, the residence of numerous and
eaminually increasing Europeans there, whatever prohibitions alight
at first he opposed to their settling in the country. When all restraint
to the importation of ships and goods are taken off, men must be al-
lowed to follow their property, and to remain at the place where
they land it till they have disposed of it; they must be allowed to navi-
gate the Indian Seas, and to return to the same place when their busi-
ness calls them; they will thus insensibly, and with hardly reasonable
grounds for opposition, domiciliate themselves, nor would an unsuccess-
ful trade prevent them, but many would seek to indemnicy themselves
on shore, fur the loss of the voyage. The instances of such settlements
will be numercus, and it will be impossible fOr any police to follow up
the cases of individuals, and continually to exercise a rigorous system of
. exclusion. This has not hitherto been done, though attended with cotu-
paratively little difficulty, and the attempt would soon, under the new
order of things, be aba' cloned as hopeless. Cc/on/eat/on must in such
4.o.se.folltnu. Large communities of Europeans will StrUggie 1)1. popular
: new feelings with respect to the Mother Country, new interests
and attachmepts, will then spring up ; and in a region so remote, so t ich
ard poeideus, and so accustomed to yield to the ascendancy of the Fat-
ropeen elseracter. the tendency and process qr these things cannot be df-
Vile to conceive."
The cot respondence cleses with a variety of hints submitted as a bssis
for an arrangement to Lord Melville, the President of the Board of
Controul, and with Lord Melville's observations upon them.—By these
it appears that the main points agreed upon between the parties are—
That the China trade should be left upon its present footing—an un-
restrained intercourse with India to be prevented, and the existing re-
strictions to be continued, with such alterations as may be necessary in
the new system of trade.
The whole of the Indian trade to be brought to the port of London,
Inc', sold at the'Compeny's sales.
Proprietors tobe secured in their dividend of ten and a half per cent.
All the surplus funds of the Company to be appropriated to the reduc-
tion of the debt, till it is reduced in India to ten millious, and the Bond
debt at home to three millions.
The sums required by the East India Company to liquidise! the debt
transferred from India to Europe, and becoming payable in iftl2. and
1813, to he funded by the Minister, the interest ot which shall be re-
gularly paid into his Majesty's Fxchequer by the Company, together
with any such per tentage, for the gradual liquidation of the capital or
redemption of the fund, as shall be deemed proper by his Majesty's
Ministers
Private trade not to be excluded from the Spice Islands. Upon one
point the Company and the Government differ. The Company wish
that no private ship should les permitted to sail for India except from
the port of London. I\he Government see no reason for preventing
ships from sailing from other ports ot the United Kingdom."
Mr. BOSAN9u ET addressed the Court. He animadverted, with much
force,on the extraordinary phenomenon which the East India Company
presented—who, not only without assistance from Government, but
while actually paying their full proportion towards the support of the
State, had become lawgivers to the immense territory of India. He then
took a succinct view of the circumstances under which the Charter of
179:3 was grant d, and contended. that when the country contemplated
the benefits which had been derived front the exert ors ot the Company,
as good cause could be chown tor rausint to afford thcm that assistance,