The Sun.
London, England, 1861-02-01 00:00:00

such as to excite great uneasiness, owing to her
increasing .debt, the continued excess of expendi-
ture over revenue, and the suspension of reproduc-
tive works , throughout the country, upon which
large sums have . already been expended, as ail
flounced in a minute issued' by th• Supreme Go-
vernment at Calcutta, on the 19th November last;
and this conference is further of opinion that clear
and simple statements of the accounts of the revenue
and expenditure of India should he published an-
nually, or more. frequently if possible; showing-
distinctly the manner in which the revenue isleceived and disposed of, distinguishing, thereceipts
and disbursernention the railways, and on all other
public works." He observed that gent'emen might
probably be aware that -the Governor-General of
India had lately published a minute, in which he
stated that, in consequence of the absolute inability
to raise any further sums of money in that country,
it would be impracticable to continue the execution
of the great public works in which they were engaged
in India, such as railways and other works of that
kind. The government of India had guaranteed a
certain rate of interest-5 per cent.—upon the
money which had been lent for the purpose of for-
warding those railway works in India, which
interest would have to be paid. More money was
wanted to carry on these works, but it appeared
that more money was not forthcoming. It appeared,
therefore, to this board that a separate loan should
be raised in this country for the purpose of provid-
ing the government of this country with the funds
necessary to carry on these public works. Upon
the completion of these public works depended the
regeneration of India. A further Mira of 20 per
cent. was requisite to enable the government to
improve the drainage, to make roads so as to bring
down the produce of the interior to the seaboard.
He could say, after an experie#ce of ten years, that
India produced everything they could desire, and
all that was wanted was to have the resources of
the country properly developed. Happy would it
be for them if the present crisis of affairs turned
their attention to that country. India was the only
place from which they could get an immediate
supply of cotton. From other quarters he had no
doubt they might get it in time; but from no
quarter could they obtain a supply so quickly as
from India. The cotton was there, and all that was
wanted was the means of bringing it down cheaply
to the seaboard. He thought that England should
raise £5,000,000 or £6,000,000 for the next five
years and lend it to India, which would enable her
public works to be completed; and it appeared to
him to be the only means of restoring equilibrium
to India. He hoped the resolution would commend
itself to the judgment of all present. (Hear, hear.)
Mr. DUNLOP said that the resolution spoke so
much for itself that it scarcely required any support
from him. That the financial position was such as
to excite great uneasiness was too clear to be denied,
and that public works should be promoted was
undoubtedly most desirable and necessary.
Railways, common roads, works of irrigation, and
improvement of harbours, was what India re-
quired. He was not aware that the works were
altogether suspended, and believed that they were
only partially so. He agreed with the last speaker,
that India was the only country to which they
could look for an immediate supply of cotton.
This was a national question, and was second only
to the supply of food for the people. High prices
might be sufficient to stimulate Europeans, but
they had to deal with Asiatics, and fhe govern-
ment ought at once to instruct the government
collectors to encourage the people in every way.
He hoped that by this means they would be able
to some extent to make up for the deficiency of
the-exports from America. (Hear.)
Mr. CHEETHAM thought that the resolution
should not merely express the sense of uneasiness
which was felt at the financial condition of India,
but should point out some mode by which that
uneasiness could be diminished, and the income and
expenditure brought more nearly to balance one
another. (Hear, hear.) Now he found that the
income of India for 1860-61 was £39,110,000, in-
cluding the new taxes proposed by Mr. Wilson,
and the expenditure £45,234,000, leaving a defi-
ciency of £6,250,000. That was the state of
things which made him uneasy, and which called
for a remedy. Of this £39,000,000, no less than
£7,154,000 was for the cost of collection ;
£3,397,000 for the political establishment ;
£BBB,OOO for marine, which was a large sum con-
sidering they had no naval enemies to contend
with in India; £3,124,000 for the interest of the
debt ; £5,157,000 for home charges, including
stores; £1,276,000 for the guaranteed interest on
railways. Then came three items, to which he
wished to call special attention—the judicial and
police charge, which cost £4,000,000. Now so far
as that had been expended on the judicial admi-
nistration of India, nothing could be more desi-
rable, because it was of great importance that they
should have magistrates of learning and impar-
tiality in that country. At the present moment
£4,000,000 were spent on the police, one:half of
which might be put to the military account, the
police being now organised as a sort of irregular
infantry. (Hear.) The expenditure on buildings,
roads, and public works was £4,390,000. But they
would find, on looking into that item, that a great
part of the amount was for new barracks for
troops, and matters of that kind, which strictly
belonged to military expenditure. The military
estimate for last year was £21,000,000. The esti-
mate for this year was L 15,276,000 ; but adding
to this the half of the police and public works
expenditure the amount would be £20,000,000,
which was far too large a sum out of the £39,000,000
which constituted the whole revenue of India.
(Cheers.) As long as this state of things continued
it was in vain to suppose that equilibrium would
ever be restored between income and revenue. He
begged, therefore, to move an addition to the reso-
lution to the effect that the military expenditure
should be cut down. _ _

Mr. FOSTER, of the Bradford Chamber of Com-
merce, seconded the amendment.
Mr. PENDER thought it would be altogether a
wrong policy if India was to be kept up as a nur-
sery for military mutineers. He should support
the amendment because it was practical. If India
was to be held for glory only, by means of forts and
armies, the sooner they gave it up altogether the
better. But he had hopes that by good manage-
ment the finances of India might be brought not
only to an equilibrium between revenue and expen-
diture, but that India might become the brightest
gem in the British crown. (Hear, hear.) The
cotton of India was not of the staple they required;
but he had no doubt it could be improved, and he
was told that machinery could be made to spin that
shorter stapled cotton. But the great points to be
gained in the first instance were to facilitate the
carriage of the cotton to the seaboard, and to bring
the expenditure and income to balance. (Hear,
hear.)
Mr. KINNAIRD, M.P., said that he thought they
were met to discuss the value of India as a cotton-
growing country in the present crisis of American
affairs ; but it appeared to him that they were en-
tering on a discussion of the military estimates of
India without sufficient information on the subject.
(Hear.)
Mr. CAMPBELL believed that the great military
force in India was the chief cause of the evils of the
country, and he did not expect any prosperity as
long as they maintained an enormous native force
and a European army for the purpose of keeping
the native army to their duty. (Hear.)
Mr. Ross supported the original motion.
Mr. MURRAY GLADSTONE said he could not accept
the amendment, because they came there as men
of business to discuss practical questions, and not
politics.
Mr. CHEETHAM said he should withdraw his
amendment, and introduce it in another form.
The amendment was then withdrawn, and the
original motion carried unanimously.
Mr. CHEETHAM then proposd the followingresolution :—" That, in the opinion of this confer-
ence, the enormous cost of the Indian army is
one of the chief causes of the excess of expendi-
ture over revenue, and of the consequent financial
distress, resulting in increase of debt, over-taxation,
and stoppage of public works ; and that this con-
ference would most earnestly support her Majesty's