The Sun.
London, England, 1806-02-26 00:00:00

Lord CASTLEREAGH observed, that in 1805
there had been actually a surplus of above eleven
hundred thousand pounds, and the nation would
have participated, if it had not been that, in the
beginning of the War in Europe, a duty had been
laid on tea to such an amount, that the Company
suffered a loss in that article of above half a mil-

lion. (His Lordship was replying to different parts
of Mr. Francis's'Skech,,but the Sixixiß informed
him, that he must confine hilisiseir to explanation,
having already spoken.)
Mr. GRANT spoke at considerable length, in
answer .to the .statements of Mr. Paull and Mr.
Francis, but in so slow a tone as scarcely to be in-

telligible from the Gallery. He supported, the ar-
gument,of Lord Castlereagh, respeEting the reasons.
why no part of the sum annually payable to the'
public towards the discharge of the Company's
debt, out of the surplus on each year's profit, ,had
been brought to account, as no such surphis had
aaually occurred in any one year since, owing to
the: almost uninterrupted continuance of expensive .
Wars. With respia to the purchase of -goods in
India for homeward investments, for cash or bullion,
instead of other commodities, he denied it either
to be so very disadvantageous, or so opposite to the
principles of our commercial , interests, as was con-
tended by the Hon. Gentleman. It was found, by
immemorial experience, that none,even of the 'an-
cients were enabled to carry on a : trade with India
'for its commodities, in exchange for the manufac-
tures or. produce of Europe. , The truth was,. we
could riot induce .the natives of those Countries to
the same predileaion for our commodities that we
had for their's.' If, therefore, we must have Indian
commodities, the best mode of • procuring them
Would be in exchange for that only which could
Obtain them upon advantageous terms. Tt was
found, by long experience, that they could be ob-
tained upon such terms for . bullion only ; and that
to attempt it by investments in any 'other commo-
dities would be attended with 'losses subversive of
the trade altogether ; and as to bullion, it was not
!the produce..ot the Country, but obtained from other
Nations in exchange for. our commodities. He de- -
nied that our commerce with Bengal was anni-
hilated, as Was asserted, though for a few years back
,it-Wasarried on mther upon a reduced scale ; and
he deprecated the manner in which this enquiry
was urged for Ward, as calculated to excite the most
mischievous and "unfounded alarms in the public
i mind, in relation to the Company's affairs at home,
as well as to paralyze• the Government in., India ;
I. and he called upon His Majesty's Ministers, whO
had a heavy. responsibility- in the affairs of India,
to be Untioas, how they san&ioned -the principles
1 that-bad been held forth this'night in respe& to that
Government, or sutler an idea to go forth, that they
II had an intention to change the Constitution of that
IGovernment. -' . ,

Mr. Secretary FOX said, he did not consider his
Hon. Friend (Mr. Francis). to have suggested any
wish for altering the constitution of India as by law
established.. Within the short time that he had sat ,-

on that bench, he had been once: before called upon
to answer a Esimilar suggestion, respeding his own
viewslowardfesCinding the Measure of Union with
Ireland-; and though he had warmly opposed that
measure, and had no hesitation in saying it was one
he nitver.liked.;- and though he Originally_ disliked
the-constitution of India as now established, and
Ltd not yet changed - his own opinion upon that
subjea;:i yet, upon t - one-measure. as upon the
other, however contrary to his own.opinion, it was
yet very material: to...consider _whether it was not
better to continue both, as now by. law established,.
than risk the couSe4uences that might result from.
innovation. With respect to' the propoSition for
formik:a Sole& Committee to inquire into Indian
Affairs, he.heard no such 'proposition before men-
tioned; but he could have no obje&ion to the pyo-
thadion of the Accounts moved for, in onlent,liat
the House .might be enabled to form a clear opinion
on the subjed, for it* appeared 'to him that Much
lAs.danger td the affairs of the Company was likely
to,accrue from a'fair and candid statement of their
situation, than from a system of mystery and con-
ce-arnefit-Tftich-appeared to-be the source, in a
ytrx. grckt. deuce, mt: their present, embarrassments
and this was a policy the re&itude of which he be-
lieved was obvious to the experience of the House
in
,many Other cases besides
.those of the India Com-
pany. One of two things must, in the present
state of the company's affairs, be obvious : either
they,inust hate been grossly and criminally negli-
gent?in-never haviug paid within tell years any part
Of the debt which they were bound by law to have
paid in yearly instalments ; or the House must have
been. deluded by a fallacious statement of their al-

air; on passing:that Statute. The statement made
by,theNobie Lord 'opposite to hun this night, that
iii 15On' the affairs of the Company were affitient,
progy.-,rou3, and 'abundant, rendered this myspry
-still, more extraordinary. He had, frequentl?-beard
explanation called for on the subject, but .none
,fadory ever given:, He, therefore, could see no oh-
je6tion to the produdion of the Documents moved.
fin. But with regard to his Hon. Friend (Mr.
Francis), he felt it a just tribute to his merit to say,
that in respe& to the Affiirs of India it did not ap-
pear to him there was any man more competent to
the subject.
Mr. GRANT explained. f .
Sir THEOPHILUS AIETC4LFE said, the de-
falcation of the Company had arisen entirely, not
so much from any failure in their own resources, as
from' the enormous rise on the tea duties in the last
War—from to 95 per cent.—which prevented
the accumulation of a surplus of five millions, which
was greatly more than adequate to have paid the
wholeof their debt, and which had adually brought
above twelve millions into the Treasury.
. Alderman PRINSEP was foi going candidly into
.an,lnquiry into the State of the Company's Affairs.
Sir HUGH INGLIS thOught it wholly unneces-
sary to trouble Parliament with going into any such
Inquiry, inasmuch as it was in the power of His
Majesty's Ministers, if they chose, to order before
them the Minutes of all Proceeding's on Ibdia Af-

fairs in possession 'of the Board of Controul, which
would give them every information that could be de-
sired upon the subject, and 'would be infinitely less
liable to excite alarm in the public mind, or produce
injury to the Company's affairs, than by a formal and
public investivtion by Parliament.
JOHAS'ON thought the discussion in the

present instance extremely premature; fir,t, because
was pressing on the attention of His Majesty's