New-York daily tribune., 1858-07-24

LORI g. sgsyed BY Derby innucnce' arc not uksV
TO show 6st,. the doom Of the East Iadia Com My
sppears 70 b sealed. They DO not die like hsroeA
II must be confessed; bat they have bar Mered svsy
their power, 20 they cIept irto it, bit BY Bit ns
business, lle way. In fact, their whole history ia
one Of buying and sellirg, They ccmmsuccd BY
buying sovereignty, and they have endei By selhas
IT, The, ere fallen not in pitched osttls, bat
urd.! the nsmmer Of the sucioneer, ioto tho hasls
Of the highest bidder. In 1893 they procured fsa
the Crown charter for twenty-ons years by pV-
ing large sums to the Duke Of Leeds and Other pub
lie officers In 1867 they prolonged their teaurs Of
power for two years by the prcmhe Of annually
paying f400,000 into the lupera sx,hequsr.
In TS9 they struck a similar b,rs,in for
five years; but soon s'.er, in return for the
Exchequers foregoing the stiPulated annual pay
meut and lending them El 10000 at per coat
they allie mated some parcels Of s,Sere'suty leaving
TO Parliament in the fret instsnce the nomination
Of the Governor General and four Councillors, ate
eether surrenderipg to the Crown the aPpointneat
of the Lord Chief Justice and his three Judges, ADD
sgreeins TO the conversion Of the Coutt OF Propus-
tors from a democratic itto su oligarchic bofy.
In 1853, after having solemnly pledged themselves
TO tie Court of Prop,ietos to resist by all coass-
tutiousl means the transfer to ths Crown Of tho
governing powers of the East India Compsny.
they tays accepted that principle, and agreed to
bill penal as regards the Company, but securing
emolument and place to its principal Directors. Ii
the death Of o hero. as Schiller says resembles tbs
setting of the SUD, tho exit Of the East Iada Com.
papy ars more Ikeress to the promise effected
by bankrupt with bis creditors.
by this bill the principal functions Of sdnnissra-
ton are ntrusted to Secretary Of State in Csua-
Gil, Just as at Calcutta the Governor General in
Council manages affairs. But both theso function.
aries-tho Secretary of State in Eosland aad the
Governor General in Indis-sre alike authorized to
disregard the advice Of their assessors aud to act
upon their Ownjudgment The new bill sD invests
the Secretary Of State with all the powers at pres.
ent exercised by the President of tho Board Of
Control, through the agency of the Secret Com nit
teethe power that is, 10 urgent csses of Dispatch
ing orders to India without stopping to ask tho
advice Of his Council In constituting that Couocd
it has been fouLd necessary, after ALL to resort to
tie East IIdia Company as the only practicsSb
source Of appointments to it other than nomias-
tions by tho Crown. The elective members Of tho
Council are to be elected BY tho Directors Of tu
East India Company from among their owl
number.
Thus, after al, the name Of the East Indis Com.
pspy is to outliye Is substance. At tee last hour
it was confessed by the Derby Caeicet that thsir
bill contains no clause sbollshing the East lndA
Company, as represented by Court of Directors,
but that it becomes reduced to its ancient character
of company tf stockholders, distributing tho dvi.
dends guaranteed by diff, ren. scts Of Legislation.
Pitts bill of 1854 virtually subjected their govern
meDt to the away of the Cabinet under the name
Of the Board of Control. The act of 1913 stripped
them of their monopoly Of Commerce, save ths
trade with China. TIE act of 1884 destroyed tasr
commercial character altogether, and tte act Of
le4 annihilsted their last remnant Of DO yer, still
leaving them in possession of the Indian cd aissa-
ton. by tie rotation Of history the East Iadis
Company, converted in 1912 into jolnt stock Co.'S
pany, is again clothed in its primitive gsrb, only
that It represents now trading psrtnershp VITA
out trade, and joins-stOck company which has ~
funds to administer, but OILY fixed d.yidends to
draw.
Tie history Of tie indian bill is marked by great
er dramatic changes titan any other act Of modern
Parliamentary legislation. When tho Sepoy iusar-
rection broke out, the CRY Of Indian reform rang
through all classes Of Britsh society. Popular
imagination heated by the torture reports; tao
Government interference with tho native religion
was loudly denounced By Indian general officers sad
civilians Of high standing; tie rapacious al
ne1ation policy of Lord Dalbousie, the nero tool
Of DowaDg street; the fermen .aton reck.essly
created 10 the Asatic mind by the piratica wars 10
Persia and China-wars commenced and pur.uod
Oh Pamersttns private dictation--the weak meas
ures with which he met the outbreak, sailing
ships being chosen for transport in
preference 10 steam vessels, and the
ciIcutou, navigation around the cape Of Good
Hope instead Of transportation over the lsttmus Of
Suez-ail these accumulated grievances burst ias>
tie cry fox Indian Reioru-reform Of the Comp.-
by's ILdi.u administration, reform OF tic Govern
neIts Indian policy Paimerston caught at the
popular cry, but resolved upon turning it to bis
exclusive profit. Becsuse both the G. GJyernneat
I'd tie Company he'd r1iserably broken down, tho
Company Vas to be killed In s,crifce acd to
GoVeInmtntt to be Ier dered tpoteu.. Ths poxsr
of the Coups'y Was 70 be simply traa,fersd .
inc dictator u the day, preteDdpg to repre-
teht the Crown as against tie Pariiauent, sa6
TO rsprestn. Parliament o. against the Crown thus
absorbing tts privileges Of the one acd tie ot1er 10
ts single person. With tie Indian arny at lie
back, tie IIdian treasury at his coauand, aod tAs
Indian patronage in ais pocket palnsrstOl's GOAL