The Sun.
London, England, 1825-02-26 00:00:00

I N D I ,k.

The Hyderabad Question, now under discussion
in Leadenhall-street, is one of great interest to the good govern-
ment of India ; and the investigation of it, both at home and
abroad, has disclosed a scene or malversation, which, we trust,
has of late years but rarely occurred : but the future frequency
of which depends entirely upon the justice of the measures now
to be adopted.
An Act was passed in the year 1797, prohibiting British sub-
jects from being concerned in Loans to the Native Princes in
India, great mischief' having been known to spring from the
practice therein prohibited : but to meet any extraordinary exi-
gencies, the Go VERNOR-GENERA L had the power of relaxing
the provisions of the law. In the year 1814, Mr. HENRY
RUSSELL is the resident at the Court of .the Nizain, and he
seconds an application to the GOVZ*NOR-GENnRAL, from
the house of WILLIAM PAL3IE it and Co., that they may have
the countenance of Government in the establishment of a mer-
cantile firm at Hyderabad ; the concerns in which they propose
chiefly to engage being " Banking and Agency Transactions,
" and supplying Timber from the Forests on the Banks of the
" Godavery, for the purpose of Ship-building, these Forum
" abounding in Timber of a superior size and quality."
It appears that a Sir WILLIAM RuenoLD, who had gone
out to India with Lord HesTietos, had married a near relation
and ward of his Lordship's; and to Sir WlLLiam RUMBOLD,
thus connected, the house of PALMER and Co. had made fre-
quent applications to become a partner. To this Lord HAST-
INGS at first objected, but, ultimately, Sir WILLIAM Rum-
BO rep became, with his Lordship's acquiescence, a partner in
the firm of W. PALMER and Co. Lord HASTINGS informs
Sir WILLIAM RUMBOLD by 'letter, that his Lordship had so
written to the Resident at Hyderabad (Mr. HENRY- RUSSELL)
as to ensure Sir Wittiest his attention and good offices.
Lord HASTINGS adds :
" The partners speculate that you (Sir William) being one
of the firm, will interest me in the welfare of the house, to a
degree which may be materially beneficial to them ; it is a fair
and honest calculation. The amount of advantage which the
countenance of Government may bestow, must be uncertain, as
1 apprehend it will flow principally from the opinion the natives
would entertain of the respect likely to be paid by their own
Government to an establishment known to stand well in the
favour of the Supreme Authority here ; perhaps a more distinct
benefit may attend the firm, from the consequent discourage-
ment of competition with you, by any other British partnership,
to which a similarly professed sanction would not be granted.
Dated .January 4, 1815."
It is proper to state, that Sir William, with Lord Hasting's
knowledge, entered the firm with the sum of three lacs of ru-
pees, borrowed money, his wife's fortune having been settled
upon herself.
The house then, Sir Wm. Rumbold now being a member of
the firm, continues trading for a year and a half, when they,
for certain specious reasons, alleged to the Governor-General,
in a letter dated June, 1816, apply to his Lordship for a relaxa-
tion of the very salutary law prohibiting all pecuniary transac.
tions between British subjects and the native Powers ; stating
their idea of the law, as, that " it was enacted with a view to
" prevent European subjects from acquiring privately too much
" influence at native Courts, and from taking advantage of the
" necessities of native Governments, to extort exorbitant inte-
r` rest from them, but that their transactions" (good sooth)
" coud not lead to either of those objects; their transactions
" had always been open and public." And here comes the part
that presses most heavily upon Lord Hastings. His Lordship
replies to the above letter, by granting the indulgence proposed
—by relaxing that important law, the basis of our connexions
with the native Powers, which could admit of no suspension
or relaxation,, except upon some extreme emergency, as ne
quid detriment i Respublica capiat—by suspending it in favour
of his ward-in-law (as we say son-in-law) Sir Win. Rumbold,
and the house of which he had been made a partner ; after
having-previously assured that house, and -the favoured part-
ner, in the teems of die letter already cited, " that a more die=
" tinet benefit would attend the firm, from the consequent dis-
" couregement of competition by any other British partnership,
" to which a similar sanction would not be granted."
We now come to the use which is made of this highly im-
proper, partial, and illegal concession. The man who violates
his duties by granting a permission to do wrong has totally
surrendered the power of controulling the extent of the wrong.
It is impossible to enter into the whole of the pecuniary' ac-
counts of Palmer and Co. ; but the description olone of them,
by Lord Hastings himself, we suppose will not be object-
ea to :
"'rue conduct of the house of William Palmer and Co.,
with respect to the bonus, is considered by the Governor-Gene-
ral in Council to he in the highest degree reprehensible ; and
the concealment, both by the house and the minister, of the real
conditions of the loan, while they were seeking the sanction of
the British Government to the arrangement, and proftssing to
put it in possession of the details of the transaction, admits of
no excuse or palliation, and justifies the inference of a culpa-
ble collusion between those parties."
The Governor-General in Council concludes (and this con-
clusion or -inference deserves attention)—" that the affair of
" the bonus was not made known io the late Resident; but

loan ; and he may have Cnsidered the reduCtion of interest,
even to 18 per cent., as a onsiderable benefit. * * I trust it
will not be forgotten that le has rendered eminent services at
the Nizam's Court. * * Captain Charles • Russell's connec-
tion with Palmer and Co. was doubtless of less consequence
than his brother's the Resient's ; but it lasted longer, and did
not cease till his return to lurope. It tended to maintain the
ties between the Residencyand that concern, and must have
had its share in keeping u)their influence. I suppose him to
have been persuaded, thatwhile his fortune was rapidly in-
creasing, no harm was done by the connection."

(Extract from the Court n' Directors' Letter to Bengal, Jan.
41, 1824.)
" Highly unfavourable is were our impressions- respecting
the pecuniary transaction of the house of Messrs. William
Palmer and Co. with tht Government of his Highness the
Nizam, when our dispatcfc of Niiv. 23, 18'21. was written, we
have had the' additional mortification of finding, from our
late advices, that we had formed a very inadequate conception
both of the nature and the extent of those transactions. * •
Considering the deceptive affidavit, voluntarily, tendered by
Mr. William Palmer and Sir William Itumbold, and the
delusive character of other statements furnished by the •
house, we are afraid that little. reliance can be placed on the
account current, which may be prepared by them in coms
pliance with your requisition. * • 1' It appears from the
documentS before us, that whet Messrs. Palmer and Co. were
lending money to the Nizam, at 24 per cent. interest, they bad
money in their hands from natives (supposed, however, by the
Resident to have been floating balances demandable at plea-
sure) at 12 and even 9 ; that th nominal loan of 60 lacs was,
in reality, a contract for only 52 lacs, there having been a
bonus of 158 per cent., or 0 lacs of rupees, allowed to the house,-
thus raising the rate of interest on the 52 ides to 20i per cent. ;
that the sum' however, actually advanced, was not 52 lacs, but
38 lacs, according to one statement, anti only 22 lacs according
to another; and that, according to the Minister's own show..
ing, ' a real loan of 11 lacs would have done as much in the
way of reduction as a nominal one of 69,' the difference be-
twe..n the sum advanced and the 51 lacs being old debt trans-
ferred to a new account ; that to this management the.house
contrived to get the sanction of Government to a debt, the
existence of which was not known when that sanction WO
given ; that they are in the habit of shifting sums from one
account to another, as suits their purpose; that instead of the
60-lac loan being now more than half paid, off, as it ought to
have been, and all the other money accounts between the '
Nizam and the house broneelit to a close, the total debt due by
his Highness to the houseind, in August, 1822, amounted to
the enormous sum of 93 lacs ; and that, in ,December, 1822, it
had accumulated to about 96 ; that in addition to the exorbi-
tant rates of interest charged by the house on their pecuniary
advances to the Government, or, as Rajah Chandoo Loll ex.
.
pressed it, the overwhelming amount of their interest upon in-
terest, interest :Tan interest. Mr. Wm. Palmer and his family
received an' annual allowance froin the Nizam's Government of
64.000 rupees, under the futile pretence of Mr. Wm. Palmer
being an old servant of the 'Nizam ; and that a new bazaar
had, by the permission of the Minister, been erected on the '
grounds of Sir Wiliam Rumbold, which commonly went by
hip name, and that lighter duties were paid at this than at the
old bazaar, until, in consequence of a representation from the
shopkeepers of the Residency Baz iar, that they should be
ruined by this preference, •an equalization of the duties was,
with some difficulty, effected at the instance of Mr. Metcalfe.
We cannot:look at these transactions, in so far as regards
the house of Palmer and Co., without feelings of disgust and
indignation. With reference to the interests of our ally, they
excite shame and sorrow ; and, in so far as they have been
countenanced, or nett controulled and checked by our Govern-
ment or the late Resident, they are matters not only of the
deepest concern and regret, but of our most decided censure
and condemnation."
But, to say no 'pored the pecuniary extortions of this house,
itssiasumptions offAmwer exceed all credibility. Sir William
numbed(' was attended by a grtaxcis—" It is not," says Sir
Charles Metcalfe, " on what Chundoo Loll says, or on what
" see done, that my conviction _of his belief of-the influence of
" Messrs. Palmer and Co. is founded ; they derive from his
" support, power and authority which no other merchants pos."
sess, and which no merchants ought to possess. They send
" their badged Chuprassees about the country with as much
effect as if they were Government officers. I have known
" one of their servants of this description employed in levying
" on a whole village the amount of a debt not originally dne to
" them, which the right owner had no hope of obtaining, and
" therefore had transferred to them, or bad engaged them w
" realize on terms agreed on between them," &c. p. 244, &c.
" Complaints have reached me of exactions of the same nature
" as in the instance above described, which happened to fall
" under my own observation.". .
The exercise of these privileges appeared so striking and
monstrous, that now the utmost confidence prevailed, that even
some official persons in the British Residency at the Nizam's
Court, if not the whole, had an understanding, or were in part-
nership (proh pudor !) with the house of Palmer and Co. Nor
were the rumours confined to India : they reached England ;
and the first duty imposed upon the Directors was to express
heir surprise at the violation of the law already cited—to re-

his Lordship in Council cannot acquit Mr. Russell of ;yr!! prebend ;he Governor-General for its suspension—and to insist
blameable neglect of duty, in net satisfying himself that the upon its immediate restoration; as will be seen by the follow-
' amount of the loan was properly appropriated, ur at least in ing important extract from a dispatch, dated May 20, MO—
' not reporting the misapplication to Government, as soon as that is, nearly tour years after the suspension had taken place,
ehe became apprised of it, as with ordinary vigilance he must and when the consequent evils had had their full range:—
" have been." " We have to observe, in the first place, that the power
The following information respecting the proceedings of the which you have thus thought fit .to exercise, could not have
house is extracted from reports made to the Government at been granted by the Legislature in contemplation of ouch an
Calcutta, by Mr. Metcalfe, the successor to Mr. Russell at use as you have made of it. It. was obviously intended for the
the Court of the Nizan ; and from a dispatch of the Court urpose of meeting extraordinary exigencies, not of generally
of Directors : licensing illegal tratlic ; and we have great doubts whether
" When Mr. William Palmer first commenced his money such a licence as you have given (a general licence, without a
transactions, it was, as I understood, ostensibly in concert with special case of necessity, and without limit) would he held to
a native of India, named Bunketty Des, and an English Gen- he legal, and would be found effectual fOr the protection of
tleman, named Russell. Messrs. Palmer and Co. against any prosecution under the act.
" 'Phis Mr. Russell was in the Resident's family, but though But, waving this discussion, we desire to be informed whether
of the same name was not related to the Resident. He was, or the Resident has availed himself of the power reserved to him,
had been, in the Madras Engineers, had been employed under by acquainting himself constantly and thoroughly with the
the Nizam's government in building the residency and other nature of the pecuniary transactions of that house with the
pubUe works, and had amassed considerable wealth from those Nizam's Government ; and, in the next place, whether he has
employments. reported to you respecting them. After the experience we have
" l'he business of that partnership was conducted in a house had, both in Oude and in the Carnatic, of the dreadful abuses
occupied by that Mr. Russell, which was situate in the grounds which resulted from the pecuniary dealings of British subjects
within the residency gateway, and close adjoining to the main with native princes, and the jealousy manifested by the Legis-
edifice of the residency. lature of all such transactions, anti we rem by no means ap-
" From the situation of the building in which the concerns prove of the indulgence which you have extended to Messrs,
of that partnership were conducted, it is evident it must have Palmer and Co. ; and we positively direct that the instrument
enjoyed the Resident's support and patronage. It is also un- by which that indulgence was conveyed may he immediately,
deretood, and there is, I fear, no doubt of the fact, that eir. upon the receipt-of this dispatch, revoked and cancelled. This;
Russell, the Resident, was further connected with it, and de- order is peremptory, and the execution of it must not be de-
rived profit from its transactions. Whether he shared profit layed, for the purpose of a reference to us, eir on any ground
and risk with the others as a partner, or received an extraordi- whatever."
nary interest for money deposited in their hands, lam not able In these terms the Court of Directors think proper to address
positively to state. It is possible that his connexion with them the Governor-General on account of the privileges granted to
may not have gone beyond having his money with them at an the house or Palmer. Whether they had as vet any suspicion
ordinary rate of interest, and somerof his most intimate friends of the participation of certain members of the Residency in the
seem to entertain this persuasion"; but from all that I have pecuniary transactions of the house, we know not; but. ru-
heard on the subject, the impression on my mieel amounts to a mours to this effect haying long afloatbeencotin t
of
inltnhteliad—iffioctu' course
of
conviction that he must have derived extraordinary profit from cautiously promulgated at first, on ac
their transactions, and that hie connexion with them was such as proof—a regular order had been transmitted to Mr. [lived', the
give them a hold on him ever afterwards. There is, neverthe- Resident at Ilyderabad, dated Sept. 4, 1819, to obtain from
les', a possibility that I may be mistaken in this conclusion, Messrs. Palmer figured statements of the whole of their pecu-
which it is the more nectnisary to notice, as Mr. Russell is not niary transactions with the Nizain'e Government, exhibiting the
present to offer any explanation. • * • Captain Charles Rus- following particulate ;
sell, the List assistant to the Resident, was also concerned with "1. 'rite sums paid by them in advance to the Nizam's Go.
Palmer and Co. I cannot accurately state the precise footing vernment.
of his connexion with them ; but I have understood that he re- "2. The interest thereon charged and received.
ceived 24 or 23 per cent. for money deposited in their hands. "3. The tunk has received and realized by them.
•11 I" The proof of what I have advanced respecting Mr. Re- "4. The payments ninth, by them at A urungabad.
sident Russell and Captain Charles Russell must rest with 1` 5. The discount and premium admitted under the fifth
Palmer and Co. and their books • though of course I should not article of the agreement.
advance it without a strong belief of its truth. The partnership t. e. The premium on the bills admitted under ditto."
of Mr. Engineer Russell and Mr. Surgeon Currie is avowed, Sir Wm. Rumbold, however, a partner in the house, being
and does not need any further testimony. That of Mr. First all this while at the seat of Government, requests of the Secre-
coe hpone,O
Assistant Sotheby cannot, I believe, be denied. •* • Having tary to Government a copy of the directions( thus sent to Mr.
and obtaining tnaiont iwngi
thwtpartieeet,y thatn
itsl
discharged the disagreeable duty imposed on me, I trust the Russell
following observations will be received with indulgence :—I eh: men, of their
tmheeirrcaunc:
suppose Mr. Henry Russell has been induced to connect him- counts with their constituents, as such a measure would he
self with Messrs. Palmer and Co. solely by the temPfation of highly injurious to their atfairs, anti destroy the confidence
realizing a fortune more rapidly than by ordinary means, with- which the public reposed in them ; hut that they had concealed
out anY.intenti, i
intention supporting that house in any improper no part of their transactions with the Nizam's Minister from
transactions. wth respect to the latter arrangements, which Mr. Russell, when he had thrmerly celled upon them, and
had Mr. Russell's recommendation and support, 1 conceive that they were at all times testy to afford him similar intbr_
him to be totally free front any pecuniary interest in those trims- oration. The ()thee members of the firm at flyderabad allege
actions ; and though I think it probable, that without the pre. the same excuse. To this it is rePlied by the Governor-General
it is still very been called on to furnish
vious connection, those arrangements might have obtained his in Council, that the house had not
possible 'that he may have in- copies of their accounts with theie constituents, but merely a
dined to think then'. advantageous fur the Nizam s Govern- copy of their account with the Nizam's Government, reepect-
recommendations
merit. There it no proof that he had any knowledge of the tee' a particuler arrangement of a Public nature, sanctioned by
bonus, the most objectietiable part of the pretended ,ixtY•lae- - lier•ident, end submittal by him to the notiee ef Govern-

ment ; and Sir Win. Rumbold is ordered to attend-the Council
next day, where his explanations are well received, and Mr.
Russell is informed that the accounts are not now required !
—But it is most important to remark, that while the Resident
is ordered to enforce these accounts, he himself is, as will ap-
pear in the following letter, suggesting to the chief partner in
the house the same means of eluding the order which Sir Wm.
Rumbold had been practising at the seat of Government, and
which had been there exposed as flitile

LETTER. FROM MR. li. RUSSELL TO MR. W. PALMER.
"My dear Palmer,-1 have sent the letters to the Residency
to have the remainder of them copied ; and, directly that is
done, will send them off. I return you the letter to Sir Wil-
liam, agreeing in every thing you have said in it. The open-
ness with which you have come forward to exhibit the whole
detail of your transactions in the Aurungabad concern, ought
to operate powerfully in favour of the house ; but no mercan-
tile establishment ought, in common justice, to be exposed to
a scrutiny of this inquisitorial character. Sir William, I
should hope, would be able to prevail on Lord Hastings, if
this captious cavilling spirit continues' to be displayed, to say,
that whenever any substantial objection is urged, he will call
on the house to explain it, but that he cannot consent to call
on thein for an indiscriminate exposure of their concerns,
merely under the expectation that some ground of-objection
may be discovered in them. Such a practice is subversive of
the very basis on which society is founded.—Yours, very truly,
" October 30. (Signed) " H. RUSSELL."
Still, however, rumours circulate; and. there is a corres-
ponding anxiety on the part of the Governor-General respect-
ing the use that has been made of the unfortunate suspension
of thedaw, and the probability that members of the Residency
had become partners of the house of Palmer and Co. These
apprehensions and fears are expressed in the following letter of
Lord Hastings to Sir Wm. Rombold :•••••
" My dear Sir AVilliam,—lt is difficult for me to make you '
comprehend the unpleasant discussions which have been, within
this fortnight past, recorded with regard to the pecuniary en-
gagements between the house of W. Palmer and Co. and the
Nizam. The whole has originated in these underhand sug-
gestions of Mr. which a false delicacy towards him
prevented my exposing. They made impressions on others,
who, acting on the erroneous persuasion, staked themselves in a
manner which makes them flounder obstinately now, in order
to preserve Consistency. Much advantage is given to them by
an apparent (I am sure not a real) want of frankness on the
part of your house. I tipprised you long ago, that it was ex-
pedient for the firm to define, upon oath, whether or not any
British public functionary 'had at any time had pecuniary tran-
sactions with the house, which could influence him in counte-
nancing your dealings with the Nizam's Government. The
eritation of so simple a declaration is awkward even in the eyes
of me, who have so strong a belief in the honour of your pro-
ceedings. Though Mr. Stuart declared he had never thrown
on Mr. Russell the imputation of a secret understanding with
you, peculiar circumstances convince me that such a suspicion
was communicated to persons at home ; and was received with
ready faith. It depends on the house whether I also must not
admit doubts."

Barrackpore, June 10, 1821. (Signed) "Il ASTINGS."
It must be here observed, that Mr. Russell quitted the Resi-
dency of Hyderabad the latter end of the year 1820, and was
succeeded by Mr. (now Sir Charles) Metcalfe. This Gentle-
man, soon after his appointment, makes the tour of his district,
leaving Mr. flans Sotheby, who had filled the same station in
the former Residency, to set in quality of First Asc4istant, dur-
ing his absence; and before Mr. Sotheby, Palmer and Rumbold
appear, to make affidavits, the object of which was to deceive the
Governor, under an evasive form of words, into the belief, that
none of the Residency had ever been partners in their house:—
The following is their affidavit :

AFFIDAVIT BY WILLIAH PALMER, ESQ. ANI) SIR WILLIAM

UUMROLD.

" We. the undersigned, William Palmer and William Rum-
bold, do hereby make oath and declare; that the partners of our
house at Hyderabad, called by 'the name of ,% illiam Palmer
and Co. are as follow Palmer, Esq., and Sir Wil-
liam Rumbold, Bart., Hastings Palmer, Esq., George Lamb,
Esq., and Bunketty Dos, and that no other persons of any des-
cription have, directly or indirectly, any partnership with us,
or any interest.in any concerns beyond such as the public has
in every other house of agency. We further declare, that no
public funoionary, at the head of any public office or depart-
ment, ever had any avowed or direct partnership, directly or
indirectly, with us, or any interest in our concerns which could
influence him in countenancing the dealings with the Nizam's
Government, or give him any means of deriving any personal
advantage from them.
" We think it proper to add, that several indiviluals, natives
and Europeans, who supported us with their capital at the com-
mencement of our establishment, did, in consequence of such
accommodation to us, derive benefits from our house. These
were, however, such as we gave them from private friendship,
or a sense of private and pecuniary obligations to them ; but
we repeat that, although we have made this declaration for
the purpose of being perfectly explicit, no person or resident
at the head of any public office or department of GoVern-
ment, or any one to whom we looked for public support or
influence, have had any such benefit; and that no persons
of any description but the above-named partners of our house,
have been associated with us in any way since the time we
first entered into treaty for the loan we negotiated for .the
Nizam's "Government.

Brass and Copper Alanufac-

tures -
Cotton 31anufactures -
- Twist and Yarn -
Glass and Earthenware of all

sorts -
Hardwares and Cutlery -
Iron and Steel, wrought and
unwrought -
Linen Alanufactures -
Silk Manufactures
Sugar, British Refined -
Woollen Goods -
All other articles .

" WM. PALMER,
" WM. RUM BOLD."
" Sworn before me, this 23th day of June, 1321,
(Signed) Ifloes SOTHEBY,
" First Assistant to the Resident, (Mr. Metcalfe being absent.)"
No notice is taken by Mr. Sotheby of this affidavit to Mr.
Metcalfe on his return ; but before the Governor-General quits
India, he promotes Sotheby to be agent at Moorshedabad. Still,
however, ali this denial and swearing fail of removing the suspi-
cions and rumours which had been for somany years afloat; and
shortly after Lord Hastings's depa:turefor England, the Govern-
ment Secretary writes to Sotheby, " that circumstances having
" led the Government to doubt the accuracy of the affidavit
" of Palmer and Rumbold, sworn before him (Sotheby), the
" Governor-General had directed the Resident at Hyderabad
" to call on the several members of the firm of Palmer and Co.
" to declare whether any persons, now or heretofore officially
" attached to the Residency, were at any time directly or indi-
" reedy partners of that firm, or participated in any manner in
" the profits of the same, &c., the tenour of Pahner's reply
" having strengthened the suspicions previously excited by the
" terms of the affidavit sworn, the Government had instituted
" an inquiry, the result of which afforded strong ground of
" presumption, that besides Mr. Currie, late Residency, whose
`1 partnership was admitted,' the late Resident, Mr. Henry
" Russell, his brother, Captain Charles Russell, the late First
" Assistant, Mr. Russell, formerly in the Engineers, and your-
" self (Mr. Sotheby), have been more or less connected with
" Messrs. Palmer and Co., or with one or more of that firm."
A series of questions were then put to the aforesaid Sotheby ;
and he, to use his own expression, " being possessed by a be-
" lief almost amounting to certainty, that the Governor-Ge-
" neral is in" possession of certain facts," make a disclosure to
the following effect That himself had a share in the
house before Sir Wm. Rnmhold came in ; that he concluded
" his connexion remained secret ; that he retired in February,
" 1820 (in fact he makes way for the affidavits) ; that he is
" ignorant whether Mr. Henry Russell or his brother were at
" any time connected with the house of Palmer and Co, and
" had never been induced to make observations leading to the
" belief that they had, nor was he acquainted with any trans-
" action whatever which they might have had with it. With
" respect to Mr. Engineer Russell and Dr.. Currie (two other
" members of the Resident's family), a connexion between
" them and the house certainly had existed."
Here, then, for the the first moment, we set our foot upon
the resting-place of truth. The dishonest secret has (in part)
come out, by the constrained acknowledgment of Sotheby; and
this person being now sucked dry, or at least as dry as he will
suffer himself to be sucked, is with great propriety thrown
aside. The following is the Government minute :
" Strong as the presumptive evidence, arising out of facts
and circumstances distinct from Mr. Sotheby's statement, has
already appeared to the Governor-Generel in Council, that the
late President and his brother were at one time or other connect-
ed in partnership with the house of W. Palmer and Co.' or de-
rived extraordinary benefits from that concern, the denial of Mr.
Sotheby of all knowledge or belief of such connection on their
pact, deprives him of the benefit of whnaatinnelgy_htthhaavA beenehad coonnig.
followedts hkeleaes tolii4rniYee wasexampleP 6'isi aiantrion
of
rtof
shed tnisisuPeritohfle.eirn:citesioiinpntilic
his defence,
hveaciWt thattihthe
r7ahtitrejuotltithcee tcraannsaMetrio.n Ss
ootfhtehbeyhouse was changed in the veer
1819, and that this was one of the principal reasons that in.
Idueed biro torctire froth the partnership ? It may be asked,
what were the ether principal zonsins for his tardy retiretnear

I Signed )

Total .

Principal Article*.

Years ended 10th October,

1822. I 1823.

67,532
1,901,426
103,891
293,496

161.08 f
BiMlOl,,

f, 4,10.
1,034,60
200,23;
577,9 a
751,fltii
M1,82+
961.4131

1824.

172,021
897,819
1,788,993

9,791,8301
RVINO,
npurts and