The Statesman.
London, England, 1813-02-18 00:00:00

EAIST-INDiA 'COMPANY.
Yesterday a Court of Proprietors was held at the,
Indite-House.
The CHAIRMAN (Sir H. Inglis) stated, that the.
ellject of the Meeting was to take. into considera-
tion a Petition to Parliament, praying the Renewal
of the Company's Charter. A copy of such Peti-
tion would be new submitted to the Proprietors, and
it would be for them to determine' with regard to its ,
adoption.
The Petition was accordingly read. It was of yeti
great length, and after giving an historical view of the
origin and progress of the Company, it set forthAlie-
dangers to be apprehended from ae indiscriminate
opening of the trade to India, and still more of that,
to China. It set forth the -various acquisitions of
territory which the Company had obtained in India,
either by grant from the Great Mogul, or by the ex- '
raisin!), thr..ugh their own efforts, of the French,
Datth, and Famish Companies, from their settle-
ments in the East ; and represented, that at any
rate the Petitioners thought themselves rightfully-en-
titled to the absolute use and disposal of the mane-
- roits forts, warehouses; and buildings, which they
had erected for the convenience and protection of
trade, subject always to the sovereignty of his Ma:
jetty. Even if the trade were laid open, which bay
:deprecates, they conceilld that they had right, to
reinshurseinent for the expences thus itiOrred_i_whiCh
amounted to many millions of molly. Without
pletendiug to question the abstract tights ofetom-
merce which the Merchants of .this country -en-
joyed, it would be for the wisdom-pf Parliament to
determine, whether the proposed measure of laying'
open the trade to India would not be ultimately at-
tended with its ruin : and they submitted', that none
were entitled to the use of the forts, factories, and
warehoirses, they had erected, without adequate re-
• muueration being made to the Company.
The Petition having been read,
The CHAIRMAN addressed the Court of Proprie-
tors,
observing, that on its fate, and on the recep-
tion it met with from Parliament depended the ea- :
rious interests of the Company, and the- prosperity I
of the Blitkh possessions in India, as well as the
mar!) complicated interests of the City and Port of
Lhedon that were connected with the existence of the
Company. The Petition, howsvef, was of such
length. and embraced such- .multifarious considera- '
Lions, the* it was ft-meetly possible for any individual
to carry the whale of it in his mind ; and many Gen-
• tlenten might probably wish for some delay, before
it •sas finally adopted. A short delay of this kind
wculd not be attended with any material inconve-
tilence ; for he was convinced, that the more
thoroughly the case of the Company was understood,
they world be found to stand on still higher ground
by the public at large. There was a blank left in
the. Petition with regard to the amount of Bonds
which the Company had paid oft', and the reason
was, that the sum was fluctuating from day to day :
but the amount would be inserted, as it stood on the
dai when. the Petition was presented to Parliament.
He had to obsei ve on this subject, that-the Company -
bad heen authorised by various Acts of Parliament
to raise seven mil;iotes by way of Bonds. They had .
been more rapidly paid in of late, than under more fah
vourable 'circumstances there would have .been any •
reason to expect ; and at present there were out-
standing against the Company, bonds to the amount
of 5,441,0001. forming part of the seven millions
which they were allowed to raise.
Mr. Roca thought the present crisis an awful one !
to the Proprietors, as the very existence of the Com-
pany was at stake. That this application to Parlia-
ment, therefore, Avon which so much depended,
might receive all proper deliberation, he should pro-
pose
that the farther consideration of the. Petition
'tumid be adjourned till Tuesday next.
Mr. Taowen thought the Petition, like all the I
other papers which had proceeded from the Court of
Directors, an able, luminous, and argumentative
composition. It was of, great importance to look at'
the -actual situation of the Company, that-they might I
see the necessity of making exertions both collective-
ly and individually in its support. A complete rup-
ture had taken plate in the negociations with Minis-
terli; and the Proprietors bad now to present them-
selves to the wisdom of Parliament, resting solely
j
on the justice of their cause, and the expediency of ;
their claims. lie trusted that, whatever had' been
the case with Ministers, Parliament at least would ;
not listen to the clamours of a few interested
disiduals, who had been equally noisy on former
occasions, though happily without stmeess, Tltisj
Petition, supported by facts and reasonings, ketnrsts;
ed, would put to silence the- empty declamation of
-the out-pm ts, which Ministers seemed to hold out-as;
the oracles e hither we were to go and learn Wisdom.;
The trade of the Portuguese with India, he observed,
had been held out as an example of successfel com-
merce with that ceuntry, unrestricted to Any "Cm- :
pany :hut it was evident, that-the decline mid ruin
of the Portuguese trade must be ascribed to the:vier-I
1/10113 excesses which individual traders comMitted,
tarestrained by the wholesome superintendance of a
Company. The opinions of Dr. Adam Smith had
been often quoted as hostile to the India Company;'
but that great man would probably have altered them, '
had he seen the political connections of the Company
so mach extended as they now: were, and that their
interests as Sovereigns .were now much greater than
as mercha4t. Ilat tct the list of th.se great names!
whcehad been formerly mentioned as friandly to the ;
Company, he would now odd that of the immor-
tal Burke. W ho, in a speech on Mr. Fox's India !
Bill, had declared, " that he. felt an insuperablei
reluctance to overturn any ancient established sys-
tem," ad:ling, that he " had seen traders who were'
endowed with all the mind of Statesmen, while he
had witnessed statesmen possessed only of the Id-
tellect of pedlars."—[A laugh.]—..Ministers,
in-
f'uenced .by a clamour, had turned their backs on
their old and faithful friends of the India Company ;-:
and, though they professed so much regard' for -the
freedom of trade, yet they had no sympathy for mil-
lions of their fellow-subjects in Ireland, who de-
melded the free enjoyment of the rights of citizens. '
'litere was this marked inconsistently in their conduct,
that they fixed an embargo on the consciences of
men, while they encouraged an outcry about the
hear, hear !]--Mr. Trower
thi was a most
the Char-

freedom of tride.—{llear , hear !)----lar
ciao proceeded to maintain, that this wa
• improper period to auks any alterations In