The Sun.
London, England, 1804-07-11 00:00:00

each year there had been a large accumulation of
Debta and stated, as the result, that in the course of
these five years the Company's Debt had increased
Upwards of t t million's. This statement he defied
the Noble Lord, or any Member in the Committee,
todisprove, and he asked every Gentleman whether
this was not a-complete evidence that all the repre.
Rotations given of the Company's affairs were
altogether fallacious and unfounded I He insisted
that' the service of the Company could not go on
without new Loans; asserted, that a new Loan
must be negociated next year in India. He argued
that the statements of the charges on the Company
• were quite delusive. The most prominent charges
Were only brought forward, while all the heads of
Extraordinary Service, which were very numerous,
were carefully kept our of view. Those who pre.
pared the Estimates acled just as the Government
here would do were they to content themselves with
stating the charges for the Army and Navy, leaving
out every other article of expence. The Hon.
Member supported his reasoning by a number of
minute calculations, and sat down with declaring,
that the affairs of the Company were far from being
so flourishing at they were represented.
Lord.CdSTLSREAGH observed, that the Hon.
Gentleman did not make a proper allowance for the
expenditure which the Company were unavoidably
subjett to in time of War. He had, besides that,
omitted. to make any dedualion on account of the
Assets which the Company were possessed of. These
. 'were inaccuracies which it was necessary for the Hon.
Gent, to take into his more serious consideration. He
was fully aware that the question was of a most
complicated nature, and every Gentleman did not
sufficiently attend to such complex statements as were
then before the House, to he in full possession of
'the various changes which arose in the course of
stitch accounts. If the Hon. Gentleman was to re.
volve these considerations in his own mind more at
leisure, it was more than probable that he would he
induced to alter his opinion. We had an European,
and we had an Asiatic War in the course of the year.
It should be also recollealeda that shortly after the
Mysore, we had to undergo the expences of the
Mah'ratta War. Though that War did not aCtually
break out until August last, it must .be supposed
that preparations were made a considerable length
of time before hostilities were,aalually commenced ;
'the first preparatory steps by which expences were
incurred., he understood, were taken in the month
of May, 18ot. Upon the whole, it would be found
that, ekclusive of the Charges of a complicated War,
the antral amount of Debt contrailed within the
year did not exceed 300,0001. If the increased
.amount of debt were considerably more than such a
sum as he had mentioned, he could not think that
even then it was a fair criterion by which we would
be authorized to form any judgment revealing the
ltcsotirces of the Company, or the general State of
their Finances. It was evident that in time of War
there mast be some difficulty in transmitting bul.
lion from Europe to the East. And when we looked
at the extended Commerce, and the increased Re.
venue of the Company, we must be convinced, that
borrowing under such circumstances was the neces-
sary result of the increased opulence and growing
power. The universal rasped of the state of our
Affairs in India must present a flattering piaure to
the Company themselves, and be most grateful to
the feelings of every Englishnian.
-Mr. JOHNSTONE reminded the Noble Lord
that in his account of the Assets, there was the sum
of seven millions of Debt, He did not mean to
charge the 'Noble Lord or any other person with
expending the Public Money in such a manner as
that they were unable to account for the exlendi.
tore. He only meant to contrast the Estimates
given in for a certain number of years with the ac.
tual result, mid from thence to form an average or •
general conclusion as to the situation of the Com.
party's affairs.
Lord CASTLEREAGH ,contended, that the, gene.
ral result did not disprove the faals given in the
Estimate.
Lord HENRY PETTYobserved, that if some means
Were not taken to prevent the Debt in India from
increasing, it might advance to an alarming and in-
definite extent. He then expressed a desire to he
informed if any measure had been already adopted,
either with a view 'to promote regularity in the
Accounts, or to prevent the further accumulation of
Debt a
The CH/INCELLOR of the EXCHEQUER
said, that considering the great distance of the
Company's Settlements from this Country, the Ac.
counts Were in his opinion, forwarded with an
traordinary degree of inecision • If any inaccuracy,
however, Could by any means. be correeted, the
suggestion of the Noble land would undoubtedly,
11 a its due weight with His Majesty's Govern.
resent.

Lord C ASTLERE AGH assured the Noble. Lord,
that' it was his earnest wish to promote the objeas
whichhe had alluded to .as much as pos,ible, and as
great a quantity or bullion should be sent to India
from Europe in the course of e as
eistent with the circumstancesth y
of theear,
times. was eon.
Mr. FRANCIS deprecated the evils that might
arise to themselves and to the Country fromllliSCOn-
dol in the management of the Affairs of the East_
India Company, and poited out the reat ad.
Vantages that might be denrived from certain wise
and salutary regulations.
Mr. eIIAPLES GRANT said, that he had no
cbjeaion to examine the Affairs of the Company
however minutely, provided that such an examina.
tion should be fair and impartial, and unmarked by
any party spirit. It was a national misfortune, he
admitted, that the Affairs of India. were so little
known, and so litt!e attended to, as to offer no en.
couragement for exertion in those who had the
management in East India Affairs. He complain.
ed that the money advanced by the Company was
often recovered, with difficulty, and chat it was
generally found necessary to have recourse to a Com-
mittee of the House for that purpose, as well as for
settling their Accounts. The Company, by a,,d
vaneing the money, thus became the sufferers. The
Company, he contended, were in a far better way
than in the year 1793. Their Accounts, he stated,
Were kept with the greatest accuracy, in which the
amount of their Capital was always distinaly mark.
A Sinking Fund had been formed, he added,