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1. The excess of the charges and interest of money in
India, exceeded the a nount of the territoriat' re. Fen ve and of the sales ofimports, for the year 1803 4, in the sum of
1,124,403 7. 2. That the excess of the same for the year 1804-5, vas estimated at
1,131,297 I. 3. That the excess of the same above the same revenue for the year 1805-6, was estimated at
2,851,745 l. 4. That the debts due by the company in India ainoainted in 1805, to
25,046,436 1. 5. "Tbat the balance of the annual account of receipts
and payments of the India- house, in favour of the company, on the 1st of March 1805, was only
12,020 1. 6. That from a general comparison of the debts and
assets of the company, there appeared to be a des
966,1121 For the satisfaction of our rea. may see how the excess of charge ders we shall insert the abstract of above the revenue was constituted. the estimates for 1805.6, that they
366,311 l. 266,800
Surplus charge of the three presidencies
1,823,040 laterest payable to the commissioners of the
sinking fund, og securities redeemed 195,783
Total excess of charge above the rerenues
It is necessary to add, that the He next endeavoured to prove, tha balance on the annual account at the the augmentation of the company' India house, instead of amounting debts was, in a great measure, ow to 12,0201. in favour of the compa- ing to the practice, that had beer ny, as stated in that account, would pursued, of making up investment hare amounted to 1,155,505 against for Europe by means of loans con. them, had not the company, in tracted in India ; and, in proof of making up their accommit for that this position he read part 01 year, credited themselves with a minute pit on record by lord Wel 100,0001. borrrowed of the bank, -tesley in June 1798, wherein this with. 500,000, borrowed of go. cause of the increase of the comvernment out of the tea duties, and pany's debts is distinctly pointed with bonds issued for 567,5251. out, and a remedy suggested for it, more than were paid off, amount which, however, the court of direcing in all to the sum of 1,107,5251. tors did not think proper to apply. This defalcation in the company's In answer to this charge against the annual account was owing, partly, court of directors, Mr. Grant proto a dimunition in the produce of duced a number of statements and their sales, and, partly, to a greater calculations to prove, that, instead expenditure on account of India and of a balance of 5į millions, in which China than first intended.
the hon. general made the commerce It is also proper to add, that, in of the company indebted to the territhe course of the debate, it was torial revenue and Indian debt, generally admitted, that the debts there was a balance, in the last seven in India might, at that time, be years, of half a million due to the fairly estimated at 30,000,000; of commerce. With respect to the share which seventeen millions were pay- of lord Wellesley in contributing to able in England, at the option of the present alarming state of the the holders of the securities.
company's finances, the honourable After lord Morpeth had conclud. member stated, that during that ed his very clear and candid expo- nobleman's administration of India, sition of the company's situation, 211 milions had been added to the a long debate arose, which was ad. company's debt; and with regard to journed to the 15th and afterwards the influence of the late wars in to the 13th instant, concerning the India on the general prosperity of present state of their affairs and the company's affairs, “ he thought their future prospécts, as well as on it right to observe, that those wars the causes, that havi led to the rapid had enormously increased the exand alarming increase of their debts pences and debt of the company, sineo 1793, when their charter was withoutadding anysecurity necessary Jast renewed. Sir Arthur Wellesley, to us; without even adding much to without controverting any of lord our permanent revenue ; and at the Morpeth's statements or deductions, expence of our reputation for justice endeavoured to shew, that with the and moderation in India.” Mr. return of peace the distresses of the Grant had no reliance on the im. company would be at an end ; and prorement of revende, to which the that, instead of the present deficit, hon. general looked forward on the there would then be a surplus re- return of peace, and thought our venue of at least 740,0001. a year. only secure dependance was on a
Estem of economy aod retrench. The only remaining subject conDont of useless and ostentatious ex. nected with India, of which we sences. Mr. Alderman Prinsep took shall take potice at present, is a bill the same view with sir Arthur Wel. brought into parliament by Mr. tesley of the origio of a great part llobhouse, for enabling the com of the company's debts, and after missioners acting in execution of an attacking, with great bitterness, agreement between the East India their monopoly, their bad manage company and the private creditors of ment of their own concerns, and the nabobs of the Carnatic, the bettheir jealousy of private traders, he ter to carry the same into effect. pronounced them to be in a state Much opposition was made to this of insolvency, and deprecated any bill, arising from a misconception of Dotion of assisting them from this its nature and object. It was supcountry, without a previous exami. posed to be intended for the purpose mation and thorough investigation of giviug a parliamentary sanction to of their affairs. Mr. Huddlestone claims, some of which were certainly sindicated the company from the fraudulent and all justly liable to attacks of Mr. Alderman Prinsep, suspicion. It was not adverted to and attributed the present derange- by the opposers of the bill, that, zent of their finances, solely and since the occupation of the nabob of exclusively, to the system of ambi. Arcot's Territories by the company, con, false policy and profusion, in, it had become the interest of that troduced and acted on by lord Wel. body to reduce the amount of debts, besley. Lord Castlereagh differed for which the dominions and re. from both parties in their explana. venues formerly his, but now theirs tons of the origin of the company's were answerable. Nor was it con. debts, which, he attempted to prove, sidered, that this bill created no had been occasioned, neither by new obligation to discharge the van and profusion, nor by losses debts of the nabob, por gave any a trade, but partly, by advances additional security to his creditors : to government which would of but merely enabled the commissiocourse be repaid, and, partly, by ners, appointed for determining the an encrease of their assets both at amount of the debts, to examine the bove and in India which were parties upon oath, and thereby stil on h.nd. In this view more effectually separate false and of the company's' affairs, the cir- unfounded claims from those, which cunstance most to be lamented in it would be an equal injustice and their situation, was the enormous hardship not to discharge. A mterest, which they paid for their clause was annexed to the bill, di. debt in India ; and the only effec. recting the commissioners to make tsal remedy for this evil was the an annual report to parliament, of transference of thoir India debt to the progress they should make in Lagland, by means of loans under the discharge of their trust; and a the guarantee of government. If proviso was added to declare, that twenty millions of their debt were in nothing in this act should be conthis manner transferred to England, strued to confirm the articles of there would be an immediate saving agreement between the company to the company of 800,0001. a year. and creditors, or to render them
more binding than if the act had not an account of lord Melville's trial, been passed.
subject of such interest in itself, After a busy session of six months such expectations before it came on, duration, parliament was prorogued such atiention while it lasted, and on the 23 rdof July by commission. such disappointment when it closed, The speech from the throne, for that we are persuaded our readers which see State Papers, page 825, will excuse us for entering into was read by the lord chancellor. full statement of the facts and cir.
We shall next proceed to give cumstances attending it.
Trisl of Henry Viscourt Meltille. - Managers ordered to proceed in the Im. geachment. Answer of Lord Meltille to the Articles of ImpeachmentAdditional article. Trotter..inswer to the Additional Article. he. ptication of the Commons. Communs resolve to attend the Trial as e Committee of the whol llouse. Mcustires taken by the Lords to pretent Lenecessary Delay in the Trial.-Order to prohibit uny Publication of the Proceediags during the pendency of the Triul.-Summary of the Proceed. ings on the Trial. Analysis of the delicles of Impeachment - Charges Tcducible in Suóstance to three. Analysis of the Evidence on the first, scond, and third. - Legal Defence on the first Charge. Answer to i - Legal Defence on ihe second Charge.-- Answer to it. Defence on the third ( harge.olorits wiljourn for some Days the considera. tiun of the Charges:--Vute of Thanks to the Managers by the Com. 1988.-Discussions in the Lords on the form of Proceeding On dividing the first Article.- On the first Article. -Questions to the Judges, and their answers.--Discussiun of the remaining Articles - further Question to the Judges, and their t wer.o- Proceedings, during the last Day of the Triol, in Wesimiester llall.-Viscount Nleirille declared not guilty by e Majority of Lords.- Numbers for and against him un each Article.
ON the day after the meeting of chester, Jord Arch. Hamilton, Mr.
parliament, the house of com. Williams Wynne, Mr. Jekyll, Mr. boas, on the motion of Mr. Whit. Morris, lord Temple, serjeant Best, bread ordered the committee of im. and lord Robert Spencer; to whom peachment against Lord Melville to were afterwards added sir Arthur resume their functions, and proceed Piggott (attorney-general), and sir Without delay in the business re. Samuel Romilly (solicitor-general). ferred to them. Lord Robert Spen. On the same day lord Melville cer was, at tbe same time, added to presented at the table of the house the committee, in place of Mr. Kin. of lords his answer to the articles of Dzird become lord Kinnaird by impeachment exhibited against him the death of his father. The managers by the commons. The averment the consisted of Mr. Whitbread, stated in substance, " that he was Mr. Fox, Mr. Grey, afterwards not guilty of all or any of the arti. lord Howick, Vi. Sheridan, lord cles or impeachment' exhibited a: Henry Petty, lord Marsham, Mr. gainst him, and that he was ready Giles, lord Folksture, Mr. Raine, to prove the same, on a proper opDr. Laurence, Mr. Creery, Nr. portunity being afforded him bv Holland, Mr. Calcraft, lord Pure tacir lordships." A copy of this