Star.
London, England, 1813-07-22 00:00:00

EifST-INDlif HOUSE.

An adjourned Court of Proprietors of East India
Stock was held yesterday within their House, Leaden-
hall-street, for the sake of deciding upon the accept.
ance or rejection of the Bill lately pending in Parlia-
ment for the renewal of the Company's Charter.—
The minutes of the last_Court being read,
The CHAIRMAN stated, that he had that morning
received papers signed by two of the three Directors
who had not been present when the joint declaration
in favour of the acceptance of theßill by the nineteen
Directors, by whom the Minute was signed, had been
come to. These he moved should be read to the
Meeting.—They were accordingly read, and gene-
rally concurred, on the part of the Directors. by
whom they were signed, Colonel TOOLE and Mr.
ATTELL) in the opinion expressed in the minute sign-
ed by the nineteen Directors, by which they recom-
mend to the Proprietors to accept of the renewal of
their Charter under the conditions on which it was
tendered to them.

Sir HUGH Notts then rose. A more luminous i
Report than that which had been submitted to the I
Court, illustrative of the Bill which had now passed
through the two Houses of Parliament, had never
come before that or any other Court. It was such as
to leave him little to say. The principal thing was
the trade to the Out-ports, and the objections to it
had been taken in two beat ings. First, the danger
to be apprehended from an indiscriminate intercourse
with the natives by adventurers from this country,
and from their residence in the interior ;—secondly,
the danger of extending the Import Trade to the
Out-ports. On the first cf these points a body of
evidence had been submitted on the part of the
Company, principally by persons who had been in
their service, which would remain a monument
honourable to the talents of those by whom the evi-
dence had been given, and to the Company by
whom they had been employed. Among others, the
venerable Mr. Hastings, after serving the Company
faithfully and zealously in India, had, at the ad-
vanced age of 80, by his wonderful ability and by
his great knowledge, contributed to the continuance
of that umpire which he had had so great a share in
acquiring :Ind consolidating, In consequence, upon
the intercourse, and upon the residence in India,
considerable guards had been imposed. But upon
the extension of the Import Trade to the Out-ports
the Company bad not been so successful. The
Bill, however, upon the whole, was better than they
could have expected. They had still secured to them
the exclusive trade to China, and to that they must
fools for their dividend. The management, of their

commercial fund, too, was entirely left to the Direc-
tors; while they also had to look, for any short corn.
ing in of their dividend, to their territorial revenue
generally ; whereas, formerly, that pre-security was
limited to the exceis of it merely. The question then
was. Would the Proprietors accept of this renewal of
their Chaster, or would they reject it ?—lt was said,
the Company Was a body corporate for ever. They
certainly were so; but where was their capital ?
They might be told—in their warehouses, in their
property afloat, in India, Ste. This was'all true; but
thea, had they not a large bond debt, which would
be instantly demanded of them ?—He might be told,
theyhadgreat claims on thecountry. They had so: but
how, and when were they to get them adjusted ? Even
for money advanced, did they get a prompt settle-
ment with Government ? No : they had a difficulty
even in getting part of a claim of that kind; and the
final arrangement was still unsettled.—lf they should
reject this Bill, and be only two years in getting this
claim upon the country brought to a settlement,
where would be their trade ? If they rejected this
Charter, could they expect that the tea trade should
be left to the East-India Company ? He confessed,
for his own part, that he could not view unmoved
the mass of individual misery which would follow
the rejection of this Bill. To their servants, work-
men, and warehousemen, it could be nothing short
of ruin. To the port of Lont.on, such a measure
must be a vital blow ; and to their military and com-
mercial servants abroad, who had made ample re-
turns for -all the benefits held out to them, it must,
no less than to the servants of the Company at home,
be, in many instances, absolute ruin. Were they, he
asked, to be disfranchised, without cause, and with-
out warning ? If they were to be so disfranchised,
let it not be by the East-India Company that they
were so treated. He should, therefore, move—
" That this Court cannot, with reference to the inte-
rests of the Company and of the Public, contemplate
all the enactments of the Bill now passed with satis-
faction ; nevertheless, deferring to the sense of the
Legislature, and relying on their wisdom and justice
for relief, in the event of their expectations, as to the
possibility of going on under the pr,,visions of that
Bill, being disappointed, they cannot think it expe
dient to refuse to accept the Charter under the pro-
visions contained in the Bill in question. They do,
therefore, authorize the Directors to commupicate to
Ministers the Company's acceptance of the bill, and
the anxious desire of their Executive Body to prim
teed to the discharge of the important duties entrus.
ted to them, notwithstanding Om difficutties with
which they were accompanied, to the ,icst of their
ability, and with the best intentions towards all par-
ties interested."— He begged to add one word before
he concluded : he was certain the country would be
disappointed, and that grievously too, in the expec-
tations they entertained on the subject of this Inca-
sure ; but let it not be said that any part of this was
owing to the East-India Company. Ministers, too,
he must say, had proved the friends of the Company
instt a l of their enemies. The country had been de
cidedly against the Company, and matters would
have been worse than they now are, had not Mi.
nisters stept in. The motion being put,
Sir R. DALLAS seconded the mo. ion. He thought
the Bill so fenced with securities, as to ward off al-
most all the evils that bad been dreaded. Whatever
doubts the Court might entertain as to the conduct
of Ministers, they could have none as to the zeal and
ability displayed by their Executive Body, not on the
present occasion alone, but throughout. The con.
duct of that Body had been such, as in succeeding
times, must spread a lustre over the reign of George
the Third. It would be one of the proudest teatuare
in his Majesty's reign, that India had enjoyed greater'
peace than any part of Europe.
Mr. GEORGE SMITH, after reading a letter from the
remaining Director, concurring in the opinion of the
great majority of that body, was proceeding to deliver
the grounds of his own individual opinion, when
Mr. HOARE subinitted that the Directors having
already given their opinion collectively, the present
Court was held for the purpose of ascertaining the
opinion of the Proprietors.
• Mr. Swam thought the individual opinions of the
Directors had been required.
Mr. Howes presumed they had
.given their indi-
vidual opinions in their collective opinion.
Mr. SMITH acquiesced.
Mr. BOSANQUET presumed that he was an exception
from this rule, his opinion being unfortunately dif-
ferent from that of his brethren. Great as the merits
of the Report were, he confessed he could not sub-
scribe to it. He believed, however, the Proprietors
would, and he was almost tempted to say, atter the
unanimous recommendation to that effect from behind
the Bar, ought to accept of the Charter. This being
his impression, he should not urge his opinion upon
the Court ; but, if there was any thing like a divided
sentiment, then should he debate the point, to the
best of his ability. An Honourable Gentleman had
talked of a vote of thanks to those Members of the
Court Who were in Parliament. For his own part,
he thought that some peculiar mark of respect and
gratitude was due to an Honourable Director, for the
eminent zeal and ability which he had displayed, and
for the fatigue he had undergone in promoting the
interests of the Company throughout the present im-
portant discussion.
Mr. P. Mooaa thought, though the present Char-
ter was very different from that of the year 1793,
that the Court ought to accept of it. Their vested
rights in the territory conferred on them were more
than equal to their capital. Those rights he there-
fore wished, should always be kept prominent, and
on the surface, that they might not escape out of
view, and be forgotten.
Mr. RANDLE JACKSON asked an explanation as to
some part of the Report, which was satisfactorily
given him by Mr. Grant.
Mr. lacxson then went on to take a view of the
situation in which the Company stood under this Bill,
the very power of extinguishing them being origi-
nally left with Ministers, though they had chosen
themselves to relax greatly in the extent of this
power, lie agreed that they had merit in this I for
if they had actually chosen to extinguish them, and
then to march over, their dead bodies, they would
have been hallooed in their proceeding. He agreed
that certain ameliorations had been made in the
financial. department I but it appeared that there
might still be a necessity, next year and the year fol-
lowing, for borrowing from Government, The inte-
rest of the last loan, besides beitiA seemed in India,

was made preferable in this country to the payment
of the Proprietors' dividends; and if the interest of
other loans was also to stand in a similar situation.

the Company might be made the means of ectin.
,guishing itself. Their standing Counsel had given it
'as his opinion that they could not deliver themselves
from the present Bill, if they once accepted it, with-
out an Act of Repeal, and that Government migllt
annex conditions to such repeal. While the Cotneeny
held the Charter of King William they must have
justice done them • but if they borrowed money from
Government which they could -not pay, and in that
way suffered a Writ of Extent to come into that
House, then, indeeide would they be at the mercy of
GOvernment, Ind then might the Charter of William
be wrested from them. The only way' to avoid this
was to practice economy. He shonia: thereff-ire pro-
pose, as an addition to the- motion, a tile .wc:"dse
assuring the Directors that every act of theirs ealcu-
lated to produce retrenchment in the expenditure,
should meet with the warmest support and encourage-
ment of that Court ; and that it be recommended to
the Court of Directors not to embark in any pecu-
niary expence which is not necessary for the interests
of the Company.
Mr. JACKSON then proposed his addition to the mo.
Lion, the substance of which was, that the Directors
would give all the effect in their power to the pro.
visions•of the Charter, trusting, at the same time to
the assurances of Ministers, that they would give
them such assistance and support as would enable
them more effectually to discharge their functions. It
suggested a caution also to the Directors, not to enter
into any pecuniary engagements but what were abso-
lutely required by law; and to endeavour at all prac-
ticable ar.d suitable retrenchments. in the home and
Indian establishments, as the only means of securing
the sufficiency of their funds.
Mr. K. SMITH seconded this addition ; and express
sed his opinion, that under all -the circumstances of
the case, they could not do'bettee than accept the
Charter, if for no other reason than that of the many
Thousand individuals who would be deprived of bread
in the event of its being rejected. He also urged the
necessity of retrenchment.
Sir MARK WOOD spoke in praise of the conduct of
the Directors, advised the acceptance of the Clew ter.
And contended that the apprehended evil friss open.
ing the trade would find os own cure in a few ye ir‘
Mr. Twtas spoke in savour of the Bill, and .Ir,ued
that ou real danger was to be apprel.e ided from the
private trader.
Mr. LOWNDLS said, he argued uts ter the influence
of three attributes—Truth, JUstice, an! Humanity :,
they were his Deities—(Lough). If he was not heard
with patience, he would affirm that be was no 1 'tiger
living. in a civilized country ; for, even among the
American Indians, the Chiefs listened to each other
with attention. He wished some individua's be had
in his eye would take example from Sir Fran.
cis Burdett, who was the most gentlemanly man liv.
ing, for he always heard otters with patience--.
(Laughter). With regard to What had fallen from
the last speaker, he differedfro-n hint as be believed
great dangers were to be a; prehenuedliom the pri.
vate trader embarking capital in brit sh bottoms.
manned with Brit:sh seamen. We knew what Bria
tish capital had done, when employed in American
bottoms, and lithely mirc might be expected when
employed in a legitimate wiy. He would liken the
bill to a vintage: Government had got the first press-
ing, the Directors the second—and what had been
left for the Proprietors ?—nothing but the hog-wash.
(Laughter.) —Mr. hose spoke to order.
Mr. LOwNDIts maintained that he was perfectly in
order, and proceeded to animadvert upon the manner
in which the Bill had been accepted by the Directors,
contending, that if they had said to the Government
that they would accept the Charter only upon such
and such terms. Ministers would have been too wise
to put the four millitnts a-year, which they received
from the China trade, in jeopardy, for the sake of a
few trifles. With regard to the clause concerning
Missionaries,&c. all.he should say was, that as soon as
be saw a Bishop in the Bill, by G-ra he thonght it was
gone to the Devil! —(Leuei cries of order, and laughter).
The CHAIRAIAN, in a few words, rebuked the Ulric-
forum of the Honourable Member.

Mr. Luny expressed his intention to vote for the
Motion as originally made, rather than as amended
by Mr. Jackson, because that amendment seemed to
imply a sort of doubt or distrust of the Directors.
though they had hitherto discharged their arduous
duties with unimpeachable zeal and assiduity. With
regard to the proposed Charter, he advised its accep-
tance, and in accepting it a full and vigorous execu•
tion of it in the spirit of the legislature.
Mr. Home congratulated the Court upon the de.
cision they were likely to come to, as that decision
would completely bear him out in all the statements
which he had made some months before. He wished
to submit a few resolutions (five in number) touch-
ing certain points connected with the Bill, and he
hoped some Member would do him the honour to
second them, that they might at least be recorded.
The CHAIRMAN informed him that there was a
mot;on alreadybefore the Court, to which an amend.
ment had been proposed, and it was not competent
to the Honourable•Member to move an Amendment
to an Amendment. He had allowed him to read his
Resolutions as part of his speech.
The question being now loudly called f0r....
The CHAIRMAN briefly addressed the Court. He
said they were now come to that most important de..
termination of saying yes or no upon the question be,
fore them. In delivering that decision he could wish
it to be unmixed with ally other consideration. The
Directors, one and all, had dose their utmost for the
Proprietors; they had not only fought for them, with
courage and perseverance, but they had fought for
them on their stumps, and even yet their faces were
towards the enemy. They were now come to ask
what they were to do at this momentous crisis
Were they to say aye, or no ?—The Bill, with all its
objectionable parts, had some good characters; the
dividends were rendered more secure by it, the com-
mercial funds were rendered more secure, and their
capital stock was as safe as by the last Charter,
though, after all, their assets were the best security
for their capital stock..
The question was then put ; the Amendment was
oegatived, and the original m.xion was carried 110 a.
iiiinously.
Mr. P. MOORE moved the thanks of the Court to
the Directors, for their zealous and unwearied exertions,
which was carried, and the Court adjourned.

IBARLIANINTAter lloclialgdi

I%

~~~:.

by U)ath JULY
The Royal Alban *as Oven W tootetimleit, io the lot Wig
Bill, Palmer's Remnoma. Bill.the Irish Leta Sherge MI, the
Trinity Doctrine Bill, the SMp Dwaine' Relief RA tie two Mor-
e/id Union Insurance Bihs, and she Corn ilatrigatiso SRL
The Coinmmioners *ere the Loan Ceenr.44.06.1 the Did
bf Cnousogromatr. and Lap WaLszsionest.
The Vote of Credit Bid a the Mons' Rill waft .pasted.
Mr. Swinburne presented at the Bar the four Quarterly Re.
pions from the Treasurer of Weitminitter StWeipoettiorod to
Ile on the table.—Adjourned till to-cotton,.