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

4.

teen millions four hundred and twenty thousano,
leaving a large surplus above the estimate. As to
the charges, he had estimated theM at nine millions
nine hundred and ninety-eight thousand pounds.
The amount was considerably above the estimate,
being a good deal above oen millions. The excess
in this case could, however, be accounted for without
'difficulty. Sums to the amount of eight hundred
thousaud'had accumulated, from causes which could
not be arnicipatei at the time the estimates were forM.
ed. On the score of military expences alone, there was
an excess of six hundred thousand pounds, which the.
Committee could not but admit must have, been ,
wholly ion of his contemplation when he produced
-.the estimates, The calculation he had male rested
on solid ground., He bad expeled frons.territorial
revenue an excess of considerably upwards of, a, mil.
lion. , and he had calculated the surplus on the net
proluceand Assets-at four hundred thousand pounds.
In consequence of the causes he, had stated, howeVCfp .
this last calculation, founded op an average of three
years, had not only failed, but there 14d been
an aattil deficiency of upwards of two hundred thou.,
-sand pounds. This being the state of the case, the
• public had no claim on the
.Hirst Give hundred thou-
' sand pounds, which were reform the stipulated par-
ticipation. Of a million of pounds, the first five bun•
dred thousand pounds were to be appropriated to the •
payment of interest. In consequence of the deficien-
cy to. which he had just referred, any claim on ;be.
public, for the present, wa s rendered -int/Aid not from
want of funds to meet it, but because payment 004
not be demanded under the peculiar. circumstance* .`
of the Company's affairs. -As to the establish-men'
of she.-fund for, the' liquidation of the debt, the
grounds on which he proceeded were, in his opinion,
quite conclusive,. He had calculated'rhat the Cons•
pant possessed thenteans of investing four millions
in investments, and would be able 'to apply two
lions oo the liquidation of the debt. Of these sif
millions, he thought that one million might be ob.
tained abroad, and the other five millions in this
.Country. .:The breaking cut of the War had in-
terrupted this system; but still, even during' the -
continuance of War; he was not at all convinced
that some progress might not he made towards the
reduelion of the debt. On this subjed'the Noble
Lord introduced some minute . calculations, into
which we think_ it is unnecessary to follow him,
.1111.10,2boefre'iootlitteosaamt doran,otfooucoheedmiolnitotlotetctvoinAroad for
odred
thousand
madepo to
pounds in India;, shewed that. every elrer-
iott w
•service of the Com'plamnVyettaegilo!'claattlesdTegtarroypef6;ir butthe
contended that the loan in question arose out of local
and unavoidable circumstances.
He' concluded his very elaborate statement by
moving the first Re;olution.
Lord ASCHIB AL D HAMILTONalluded to the
repeated promises given by the predecessor of tben
.Noble Lord whci spoke last, respeding the prospe-
rity of the Affairs of India. The House had bee,"
many years ago assured, that India would not only
be freed from all embarrasSment, but would aCtually-
be. able to administer relief to the
Financial de
mands of the Empire at large. They were assured,-
that not only would aid be afforded to the Public,
.but that the whole Indian Debt would speedily be
extinguished. He wished the Committee to relic.
.
,how ellen fine premises had been realized. Since--
protniacs had first been brought forward, the
Indian Debt, it. was known, had increased three of
sour f std. In' 1793, when the Charter •ofo6 .
Company was renewed, a stipulation was made, :that
$66,00.01. should annually, after a certain period!:
be paid to the Public. Of the- sum •so stipulated
for, not one Sixpence had been, or was likely to 1$
received. He wialle4 Its ask, un.wfiat foundation
die promises held forth were supported, and , whet'
or where the public might in reason hope to sea
(hem realized/ The Deist of_ the Company,, $o far
from hung
beLnagst diminished,
iniisthewda eighteen 's
accumulatedmillions, ro
year
b/t 9
year.
the Papers now on the Table it would appear, tbar
it was. upwards of nineteen millions, with evert
prosped of a still greater accumulation. The Noble,
Lord alluded to the state of the account betwixt tb°
Company and Government. Last year the debt due br
Government to the Company was estimated at some.
allingmote, than+ millions. At that time a million
had been discharged, and still the balance agt,inst Go'
ernmentwias not diminished, according to the state•
menu contained in the Papers on the Table, lie though'
I this a very extraordinary circumstance, and called on
'• the kl9ble Lord to afford! some explanation •on the
subjeCt. Before.he Sat. down,- he lead a part of the
Speech of the Noble Lord in 18oz, where.the mo'l
sauguine views of the prosperity of the Company''
affairs was held forth.• He hoped the Noble Lori
:,iniodwgrsoatovnttihs:at a these ruel r ehseenncteaftoinr rbees tieoti o. ;al
ongoosi
oo
in his expeetatioas?
Lord CASTLEREAGH explained that .part ,a
the Statement which respelled the
site Company and Government.
of the last.year, the Debt was about four millions
since that_ time, advices bad peen received of a Ito
)(sy cctohuenstt bateettteia r
..;her sum of one Million four hundred and nin tip
tine thnusand,rounds being due, and though a
lion was discharged last year, still the balanC
Was what the Papers on the Table describede-
The Noble Lord declared, that he adhered, to
phis
fl_iiiner AeClarat ions, as to the prosperity of th
affairs "of the Company, and 'was ready gravAlY
renew any pledge which he had formerly given
the House.
Mr. JOHNSTONE controverted the Nub)
4o rd's stateinents, He' Maintained thiat the affdil
of the Company Were, year after year, growls'
,enure embarrassed.. Not a single one of the promise
cnr pisspeCts held forth by the'Noble Lord's predecet
sore or the Noble Lord himself, had been, in tl
slightest degree fulfilled. The Noble Lord's prod'
rector had, after his magnificent statements of t'
flourishing situation of the Company's affairs, f'
tired from office,' leaving their Debi great.ll ai
cumulated, and siving, as his only legacy,
serious advice to reduce it. The Noble
_himself followed stridly his predecessor's' exampt
'in the views he gave of the Cutneany's affair
Like him he abounded iri Magnificent promises et
flattering prospeds, but like him he had in ev,„e!
instance found himself altogetherAi,appointed.
Hon. Gentleman shewed that the Debt of the Coe
pony was rapidly accumulating. tie tbok the