vices, is stated in the directors' estimate at 6,669,0821. There are two ways of liquidating this debt, either by paying it off in India, from the furplus there, or by remitting it to England, and discharging it by that surplus, realised through the medium of trade. The latter is undoubtedly by much the preferable mode ; as in the other case, the investment could not be made adequate to the demand, without fending bullion to India. The British fubjects, of whose fortunes a considerable part of these debts confift, if they were paid in India, must find some other mode of remittance to Europe ; and thus would, as formerly was the case, supply foreign companies with the means of carrying on a trade to India, in competition with the company, on a capital furnished by their servants, to the injury of the navigation of Great Britain, and the diminution of the home revenues in duties and customs. The debts of the company in Great Britain consist of the amount transferred from India, and unpaid on the first of March, 1793, which is ftated at 1,354,03ol. and the other debts, at the same date, are calculated, exclusive of the capital stock, at 9,247,0191. the total of both, 10,601,069. This includes the sum owing by the annuitants, which is included as a debt due to them on the other side of the account. This statement thews the value of assets at the same period, which, at home and afloat, (including the balance of quick 1tock in China) amounts to 13,437,4601. The value of assets in India, consisting of cash in the treafuries, bills, goods, and stores, amounted, in January, 1792, to 4,098,4051, exclusive of debts owing to the company in India, which are ftated at 3,518,3931. These, however, are not reckoned upon; but left as a sort of guarrantee for the floating debt owing by the company in India, above the amount bearing interest. The value of aflets thus at home and in India, is - + 17,113,854 And the amount of debts at home, including the transferred debt 10,601,069 If from each side of the account the 4,200,000l. owing by government to the company, be deducted, the remaining amount of atlets is 12,913,854 And of debts 6,41,019 The debts for bills on the court of directors, for customs, freight, demurrage, interest, and dividends unpaid, and various other articles in their commercial concerns, amount, as per No. 24, to Which being deelucted from the above annount, leaves * a debt to be provided for of If bonds be kept in the market to the amount of 2,454,579 3,946,440 1,500,000 The debt remaining to be paid off at home is 2,446,440 There hete There are two ways of discharging it, either by increasing the capital e million, which there can be no doubt of rapidly doing, either by more the present proprietors fubfcribing in proportion to the stock they reí15 petrely hold, or by admitting new fubscribers to advance the amount. de The other method is by instalments, to which, considering the smalling bad mit of the debt to be ultimately discharged, a very moderate fun only Tack male med be appropriated. But, in every point of view, the preference I love hrald be given to the first mode, both as tending to an immediate liDerly see pitation of the debt, and as it will enable the company, by an addiou a tak terta) capital, to extend their export trade to the utmost the Indian or ilhed in Chinese market will admit of. and if the proprietors shall adopt this idea, they will have a juft claim to reeire an additional dividend, amounting to ten per cent. on both the amar: old and new capital; and after allowing for this, there would still re93, samoin suficient lum to admit the public to a participation of not less te, er dethan go3,000l. The applopriation of the surplus would then stand thus : ats, reNet estimated surplus £ 1,239,241 "Count To be applied towards the discharge of the debt transferred from India 500,000 2) any Increase of dividend two per cent. 100,000 uh in ter New capital of one million at ten per cent. 100,000 ry, Spoled to reduce the bond debts to 12, 1,500,000l.) d upe: Tie intereft at present on bonds is 128,000 e Coma1,00,000). at four per cent. 60,000 Las intereft on bonds 68,000 hereafe of payments by new stock 32,000 To be paid to government 500,000 10,662 -1,132,000 13.901From this statement, it appears, to fix millions, eight hundred and At, in the first year, a balance ninety seven thousand seven hun645 Hl remain unappropriated, and dred and thirty pounds per annum; lia, as the debt in India is paid and the charges incurred in the ci l be annually increasing. vil and military establishments, as Mr. Dundas concluded his long and far as can be ascertained, to five laberinas ftatement, by submit- millions, two hundred and thirty 3.44 Ting to the committee the following three thousand, seven hundred and reclutions , founded on the accounts seventeen pounds per annum, va30th miferred to them: luing the current rupee at two thil1. on "That it appears, that on an aver- lings, the ftar pagoda at eight fhil me of three years, 1787 to 1789-90, lings, and the Bombay rupee, at 2.44 islafre, the revenues of the le- two thillings and threepence. Kiral presidencies of Bengal, Ma “ That it appears, that allowing 1 dias , and Bombay, have amounted fifty thousand pounds per annum G 2 for for the expences of Bencoolen and eight lacks, forty-five thousand fire Pinang, the net revenues of the hundred and eight current rupees British pofleflions in India, on the “ That it appears, that the foregoing average, have amounted amount of the debt, bearing inte to one million fix hundred and reston the 31st day of January 1792 fourteen thousand and thirteen was fix crore, ninety-three lacks pounds per annum. thirty-nine thousand four hundrer “ That it appears, that the reve- and thirty-two current rupees, an nues arising from the countries that the amount of that interest wa ceded to the company by Tippoo fifty-nine lacks, twenty-two thon Sultan, at the termination of the sand and ninety current rupees late war, stated in the treaty, at but that, from later advices, the thirteen lacks, fixteen thousand amount of debt bearing interest seven hundred and fixty-five pa- itated by the court of directors godas, and which countries are ef- fix millions fix hundred and fixty timated, by the court of directors, nine thousand and eighty-tw to produce three hundred and nine- pounds, and the amount of the ty thousand pounds per annum, are interest at five hundred and fixty not included in the foregoing aver one thousand nine hundred an age amount of revenues. twenty-three pounds. “That it appears, that the fu “ That it appears, that, after de ture revenues of the British pofler. ducing the interest payable on th fions in India are estimated, by the debts in India, from the excess o court of directors, to amount to fix the revenues above the civil, mil 2, millions, nine hundred and fixty- tary, and commercial charges, th three thousand, fix bundred and net surplus is estimated at one mil 36 twenty-five pounds per annum, and lion and fifty-nine thousand on 21 the civil and military charges (in- hundred and twenty-seven pound cluding one hundred and four thou- per annum. fand four hundred and fifty pounds “ That it appears, that, on th.ca for commercial charges) to five mil- average of the three last years, from iz lious three hundred and forty-two the first day of March 1790 to 1793 med thousand five hundred and seventy- the prime cost of goods sold by the tive pounds per annnm. East-India company has amounter whose " That it appears, that the net to two millions five hundred and revenues of the British provinces in fifty thousand seven hundred an India, after defraying the civil, mi- twenty-eight pounds per annun litary, and commercial charges, are that the customs payable on thos ettimated, by the court of directors, goods has amounted to fix hundre at one million fix hundred and and twelve thousand two hundre twenty-one thousand and fifty and thirty-one pounds per annum pounds. the charges of freight and demur: " That it appears, that the debts rage to leven hundred and seven owing by the East India company teen thousand four hundred and at the several fettlements in India fifty-three pounds, and the charge amounted, on the 31si day of Ja- of merchandize to three hundred, nwary, 1792, as near as can be ar- and fix thousand one hundred and certained, to the sum of nine crore, cighty-five pounds per annum, zi chat per annum. HISTORY OF EUROPE. 85 making the total of prime cost and cent. dividend on the capital stock four millions one hundred of five millions, is estimated, by parsl eighty-fix thousand five hun- the court of directors, to amount id and ninety-seven pounds per to one million two hundred and thirty-nine thousand two hundred * That it appears, that the goods and forty-one pounds per annum." El paper by the company in the last three Mr. Huffey said, the right hon. at in peas, on an average, have amount- gentleman had triumphed on the yang sed to five millions one hundred and consent which his plan had obtainmet al die thousand and ninety-four ed in another place; but his triTadipoands per annum, which exceeds umph would have been somewhat the prime cost and charges by nine diminished, if he had confidered I die hundred and fixteen thousand four that such consent had been bought trd gebündel and ninety-seven pounds. by the addition of two per cent. Tut it appears, that the prime on the capital of the East India nours de cast, and several charges of cul- company, and an exclusive charter. ired alekss , treight, and charges of mer- Mr. Dundas replied, and the House brundelekardize , of the goods to be sold adjourned. by the East India company, are ef The attention of the House of that, zelírated , by the court of directors, Commons was next called to reparate de mant to four millions two hun- new its attention to the slave trade; 1 che cost and forty-four thousand fix a subject whose important discurle celoded and ninety-eight pounds fion had, in some preceding fef fions, employed the first talents That it appears, that the sales and eloquence of the lower House thoritate di goods by the East India com- of Parliament, and was still in a leven ze key are estimated, by the court of state of examination, by the delidirectors , to amount to four mil- berative wisdom of the House of thot, clis nine hundred and eighty-eight Lords. afisez boufand three hundred pounds per On Tuesday, the 26th of Febru11.go try moun, which exceeds the prime ary, Mr. Wilberforce stated, that ds folding sel and charges by seven hundred the motion which he proposed to hias ant sal forty-three thousand fix hun- make was, in his opinion, so much hundred teland two pounds. a motion of course, that, he flats hundreds * That it appears, that the tered himself, no serious opposition per al des and profit on private trade, would be made to it, as it was no ble antak average of the last three more than a preliminary to the reo fix bas tean, have amounted to eighty- newal of the resolutions which were two beauty tre dousand three hundred and carried last year by a considerable s per les tiger-three pounds per annum, majority. He then moved, " That t anders and are estimated, by the court of this House will, on Thursday next, and for directors, to amount to seventy resolve itself into a committee of urdered a transand pounds per annum in fu- the whole House, to confider of the circumstances of the African fiave "That it appears, that the net trade, undreds lisplus on the whole of the reve Sir William Young said, that re: a 2023 bes and trade of the East India flection, instead of making him Ducapany, after paying eight per defift from his oppofition, had served ** be G 3 10 served only to confirm him in an having viewed the negro village opinion, that the great question of on many estates, he had seen as the Nave-trade ought not to be many children in each, as could agitated at present. Men's minds, be found in any village of the both at honie and in the West-In- same fize in England. This would dies, were, at this moment, too serve to thew that the neceflity o much heated for a sober and cool importation might be gradually deliberation on such an important diminished; and the plantation question ; many exaggerated ac- be worked by creole negroes, in counts had been given of the fitua- stead of Africans. The conditio tion and treatment of the negroes, of the Naves had of late been con both before, their departure from fiderably mended ; the act for re the coast of Africa, and after their gulating the middle paffage ha arrival in the islands; by these ac- been productive of very happy Fit counts the paflions of the House consequences; and many regulado had been excited to decide against tions had been adopted in the ce the dictates of judgment and found lonial assemblies, tending great policy. He was ready to admit, to better the condition of the that in its principle it was not to poor people. He maintained tha be defended, and must neceffarily in whatever related to the flave be repugnant to the feelings of and flave trade, this country coul mankind; but such were the cir- not act with efficacy, without the cumstances of our West-India co- concurrence of the legitlature & Jonies, that the continuance even the islands: these bodies were ex of such a trade for some time lon- tremely well disposed to do ever ger was absolutely necefiary to thing that could reafonably be re their existence, and its abolition quired at their hands; and mor would be their ruin. On this sub- it would not be prudent to atk. HE ject he said he could speak from He concluded by moving a his own knowledge, for during amendment, viz. that the word the last summer he visited most of “ Thursday next,” should be lel the English islands in the West- out, and the words, “ This day fi Indies, and he could take upon months, inserted in their stead. him to say, that a great deal of Mr. Buxton, after some gener what he had heard in that House observations on the dangers whic in the course of the last session, threatened our happy constitutiot respecting the treatment and con- from a prevailing spirit of innova dition of the negroes, appeared to tion, and the impolicy of liftenin him to be unfounded in fact. It to clamours without doors, second had often been taid that by the ir- ed the motion for the amendmen regularity of number of males and After several gentlemen ba females imported into the islands, briefly objected to or fupported th and the excessive labour to which motion, Mr. Fox observed, tha they were exposed, very few chil- the question now was, whether tha dren were reared, and that this Houle would not proceed, and a was the reason that it became ne once lay it down as a rule, tha" cessary to import so many Africans they would do nothing whateve" every year. He declared, that upon the present subject in this feflion |