Star.
London, England, 1803-03-22 00:00:00

EAST INDIA ACCOUNTS.

On the motion of Lord CA STI. ERPAGH, the
Honk proceeded to confiderthe report of the Com-
mittee on the India Budget. On the reading of
one of the refolutions,

Mr. FRANCIS adverted to fomething that had
fallen from him on a former night. He contended
that whenever papers were laid before that Houfe
it was the right of every Member to examine them,
particularly if loch papers related to matters of
accounts ; and it was necelfary for Gentlemen to
attend minutely to them, when the accounts hap-
pened to be talie. He had certainly Paid on a for-
mer night,that there werefalfe Raternents in the ac-
count brought forward by the Noble Lord, but from
that atlertion it did not follow that any imputiaioe
could attach to the charm:lets of thole who had Madr
them out ; nor would he attempt to impeach tli.
perfonal veracity of the Com t of Direaors. A
very ext:aordinary flatement had bccn made,
which ha thought it neectLiry to notice ; it was laid
that the debt of the Company could be paid out of
its capital flock ; and that Government was to
guarantee the payment of the fame. If this was
the faFi, he mud fay that the Proprietors of Eat
India Stock enjoyed a degree of security which he
I never her:ire thought they had. if Government
guaranteed it, that was the fame as paying it.—
' Government guaranteed the Auftrian loan, and
afterwards paid the dividends on it. He wifhed to
I know whether this was the fait or not ; and if it
was, whether the Parliament and the public would
be bound to make that deb' good.
Sir Tyro. Mc rca es was for ry the Hon. Gentle.
man fhould have Ilirred fuch a debate upon the
report. No doubt it was the privilege of every
Member of Parliament to canvafs every queflicn
and matter that came before the !lonic; but when
imputations were thrown out of fabricating ac-
counts for the purpofe of fo-cing balances and de-
ceiving the Houfe of Commons, he Mould leave
it to the feelings of the Hon. Gentleman, how far
men of nice honour could tamely fubmit to fuch
infinuations ? If the charge was true, Parliament
was no doubt bound to intlitute an inquiry into it,
and the Hon. Gentleman himfelf fhould feel it his
duty to move an impeachment of the perfons who
were fuppofed to he guilty of it. If it was not
true, it snuff be left to the Hon. Gentleman to
reconcile'it with his own feelings. He felt that
he was alluded to in much that had been aliened
by the Hon. Gentleman, but it would appear that
he was egregiously mifunderftood by him. He
never Paid, or intended to fay, that Government
had guaranteed the capital flock of the Company,
to the amount of twelve millions. The-Hon.
Gentleman added the word Government, of which
he had never made ufe; what he had Paid was,
that a guarantee fund had been eftablifhed for that
purpofe by the proprietors; but never affirmed
that it was guaranteed by Government. He flionld
not have felt fo anxious to refute fuels an affertion,
had not paragraphs, imputing fuch opinions to
him, paragraphs which be was certain were paid
for, been inferted in the public papers ; and suck
was be furprifed to find that Members of Parlia-
ment could (loop to fuch mean, underhand infinu-
ations. As to the capital flock of the Company
not appearing at the head of the account, it fhould
furely be no matter of furprife to the Hon. Gen-
tleman, who mull be fo converf.ant with all Par.
liamentary Proceedings on India accounts; for
he might remember that in 1794 there was as
order of the Houfe, requiring the accounts to be
prefented, without including the capital flock of
the Company. What, therefore, the Hon. Gen•
tleman reprobated as a glaring omiffion on the
prefent occafion, was nothing more than a fimple
compliance with that order of the Houfe.
Lord Casrcsar•ou laid, that his Hon. Friend
had very properly explained, that the nature of
the guarantee for the capital of the Eall India
Company, was fuels as did not by any means
amount to a claim on the public. The adual and
nominal flock of the Company were from the par-
ticular eircumßances of that Hon. Company's af-
fairs confiderably different ; the nominal capital
was only fix millions, whereas the adual turn fob-
fcribed was 7,700,0001. If the value of the flock
had been deferibed, it mutt have formed a very
complicated aceaunt ; and yet the Company had
an undoubted right to return their stets in the
account, they having been increafed to a confide.
rable amount, and some particular circumftances
of the late war having been peculiarly preffiog on
the funds of the Company. There was every res.
fon for believing, however, the Noble Lord ob-
(creed, that the prefent afped of the Company's
affairs was particularly favourable.
Mr. Fite sc is obferied that, in his opinion, where
a provision had been made for the payment of a
fpecific annual fum, on condition of a fuppofed
furplus, it required a dired answer whether any
and whatfurplus had.accrued fince the time alluded
to, the year 1793.
Mr. W. DUNDAS laid, that there was a fpecific
refolution of that Houle, which Rated, that the
EaR India Accounts were to be made out exelnfive
of their capital ; and that therefore the Diredors
would be highly eulpableowere they to infer:
capital as an item of their accounts. The Hom
Member then entered into a junification of the
conduit of his Noble Relation (Lord Melville),
and laid, that every man muff reafonably con-
elude, that an ,eflimate and a report could not
exactly agree ; we were all apt to draw the mull
fangume conclusions from our own plans ; and be-
fide, there was an exprefs provifo mentioned, on
condition of peace.
Mr. Jon STONa declared that, in his opinion, it
would have been much better if the Hon. Member
had Rated what occurred since the year 1793
at that time the accounts of the Company Rated a
furplus of feveral thoufands, they were now
2,200,0001. worfe.
Mr. W,tt.LAcs urged the propriety of the man•
net in which the accounts had been drawn tip, on
nearly the i:trne grounds as thole on which it had
been inpported by another Hon. Member (Mr.W.
Dundas), and concluded with a very pleating de•

fcription of the probable fuccefs of the EaR India
Company's affairs.
Mr. Kis o AULD expreffed the greaten fatisfaaion
at the very flattering flatement which had been
given by the Hon. Member who fpoke laft. But
be could not help being of opinion that there should
be a politive explanation given to the Honfe whe-
ther any foam, and if fo to what amount, had
been paid by the Ealt India Company towards the
reduaion of the National Debt, according to the
ilipulations of their Charter, (ince the renewal of
that. Charter, or during thelafk Eve years, or any
other given period.
Lord Cass- Lsataost Paid, that froris the extra-
ordinarypreffure of the war, and the improvements
made in the ellablifliments of the Company, it bad
been utterly impoffible.
The queftion was then put, and the refolution
agreed to treat. tore.—Adjetirned. .