Substance of the Speech... 
 on the British Government 
 Trade in the ^ast Indies 
 
 By 
 
 Henry i.tmdas, 
 Viscount of ^elville
 
 UNIVERSITY OF CALIFORNIA 
 AT LOS ANGELES
 
 SUBSTANCE OF THE SPEECH 
 
 OF THE RIGHT HONOURABLE 
 
 HENRY DUNDAS,
 
 SUBSTANCE 
 
 OF THE 
 
 SPEECH 
 
 OF THE RIGHT HONOURABLE 
 
 HENRY DUNDAS, 
 
 ON THE 
 
 BRITISH GOVERNMENT AND TRADE 
 IN THE EAST INDIES, 
 
 APRIL 23, 1793.
 
 V713 
 
 >1- 
 SUBSTANCE OF 
 
 MR. DUNDAS'S SPEECH ON INDIA AFFAIRS, 
 
 <* 
 
 APRIL 23, 1793. 
 
 JVlR. DUNDAS introduced his obfervations upon the 
 important national fubjecl: of the Britifh Government and 
 Trade in the Eaft-Indies, by ftating, that the difficulties which 
 he had experienced had arifen, not only from the importance 
 and magnitude of the fubjecl:, but from the fyftem which he 
 was to propofe being in oppofition to eftablilhed theories in 
 government and in commerce. Thefe theories, he admitted, 
 were juft and applicable to other cafes, and yet he found it 
 dangerous to liften to them, when he was devifing a plan of 
 government and a fyftem of trade for Britifh India. *' No 
 writer upon political economy (faid he) has as yet fuppofed that 
 an extenfive empire can be adminiftered by a Commercial 
 AfTociation ; and no writer on commercial eeconomy has thought, 
 that trade ought to be fhackled by an exclufive privilege. 
 In deviating from thefe principles which have been admitted 
 and admired, I am fenfible, that my opinions have popular 
 prejudkes againft them, but I am fupported by fuccefsful 
 experience ; and when the Houfe adverts to the peculiarities 
 of the fubjecl: before them, they will at once fee, that I am 
 not attempting to overturn theories, though I am unwilling 
 to recede from old and eftablilhed practice.'* 
 
 "I wiih, in the outfet, te arreft the attention of the Houfc, 
 and to fix it on the advantages which Great Britain actually 
 poflefles, and then to afk, whether it would be wife or politic 
 to forego them in fearch of greater advantages which may 
 exift only in imagination ?" 
 
 B " l 
 
 354709
 
 ( 6 ) 
 
 " It would be idle, it would, perhaps, be a proof of igno- 
 rance, to maintain that all the advantages which Great Britain 
 potteries from its connexion with India, arife out of the 
 prefent exclufive privilege of the Company ; but it would 
 be ralh and, perhaps, impoflible to fay, what might be the 
 political or commercial effects of a variation from the pre- 
 fent fyftem. In an age of enterprize and improvement, men 
 are unwilling to hear of reftraints, but the wifdom of the 
 Britifh Parliament will not rafhly relinquifh a pofitive good 
 in pofTeflion, for a probable one in anticipation." 
 
 Mr. Dun das then ftated, that the {hipping employed by 
 the Eaft- India Company, amounted to 81,000 tons; that 
 the feamen navigating thofe {hips were about 7,000 men 
 who had conftant employment : that the raw materials im- 
 ported from India, for the ufe of the home manufactures, 
 amounted annually to about ..700,000 ; that the various 
 articles of Britilh produce and manufacture annually exported 
 to India and China, on the Company's {hips, amounted to 
 upwards of a million and a half fterling, including the ex- 
 ports in private trade allowed to individuals ; that the for- 
 tunes of individuals acquired in India, and remitted home 
 through the medium of private trade, by bills on the Court 
 of Directors, or by other means, formed an addition to the 
 capital of the nation, the amount of which could not be 
 accurately afcertained, but might be {rated, at leaft, at a 
 million per annum. 
 
 44 The induftry of Britain (he obferved) is thus, on the 
 one hand, encrealed, by the export of produce and manu- 
 factures, and the confumption of thefe manufactures enlarged 
 by the number of perfons returning with fortunes from India, 
 or who are fupported by the trade and revenues of India ; and 
 on the other, it is foftered and encouraged by the import of 
 the raw materials from India, upon which, many of our moft 
 valuable manufadlures depend. It would be unneceilary to 
 
 analize'
 
 ( 7 ) 
 
 analize the articles with a minutenefs, that is inconfiftent 
 with an explanation' of the general principles upon which I 
 am to reft the propofitions to be fubmitted to Parliament ; 
 let it fuffice to obierve, that the receipts and payments of the 
 Eafl-India Company amount annually to more than fix mil- 
 lions fterling. Under fuch circumftances, I paufe before I 
 liften to theories; if I had lefs experience in commercial 
 ceconomy, than practice has given me, perhaps, like others, 
 J might bemifled." 
 
 Having madet hefe general obfervations, Mr. Dundas brought 
 forward, for the confideration of the Houfe, the general 
 tjueftion. Upon what principles ought the State to govern its In- 
 dian PoJjeJJions? and under what regulations ought the trade to the 
 EaJl-Indies to be. conduced? "I wiih, if it were poffible, to ftate 
 feparately my obfervations upon the two great points compre- 
 hended in this queftion ; but I find that it would be imprac- 
 ticable to explain my ideas of the Government, without 
 frequently referring to the connection eftabliihed between it 
 and the Jrade." 
 
 Mr. Dundas then ftated, in concife terms, the nature of 
 the prefent Government of India ; that it was vefted in a cor- 
 poration under the controul of the Executive Power, and the 
 fuperintending authority of Parliament, and that the expe- 
 rience of nine years had juftified this fyftem, and induced him 
 to propofe to the confideration of the Houfe the continuance 
 of it. " There were (faid he) fadls and events refpe&ing- 
 whida there could be no difference of opinion. India, or 
 the country in Hindooftan, governed by Britain, is in a ftate 
 of profperity unknown to it under the moft wife and politic 
 of its ancient Sovereigns. The Britifh Pofleflions compared 
 with thofe of the neighbouring States in the Peninfula, are like 
 a cultivated garden, compared with the jicld of the fluggard ; 
 the revenues of India haye been enereaied, and the trade 
 
 connected
 
 ( 8 ) 
 
 connected with them is in a ftate of progreflive improvement, 
 A war, as inevitable as it was politic, has been conducted 
 with vigor and brought to an honourable and advantageous 
 conclufion. Should it here be faid, that the Company is 
 an improper inftrument for the management of an empire : I 
 would, (if they were not under the controul of the Execu- 
 tive Power and the fuperintendence of Parliament) readily 
 admit the force of the argument, but if I find them to be 
 an organ of Government, and of Trade, which has experi- 
 mentally proved itfelf to be iuited to the adminiftration of 
 diftant provinces, the revenues of which, are to be realized 
 through a regulated commerce, I am afraid to lay afide a 
 means which has hitherto anfwered all the political and com- 
 mercial purpofes for which they had been employed.'* 
 
 In this place he again adverted to the force of theories in 
 politics, and admitted, that though he neither was able nor 
 difpofed to refute them, yet he could not feel it to be wife, to 
 recede from practice, which experience had proved to be for 
 the intereft and the aggrandizement of the Empire. 
 
 Mr. Dundas then took a view of the hypothecs, that the 
 fyftem of governing India (hould be altered, and enumerated 
 the difficulties which muft be overcome, before the repara- 
 tion of the Government from the Trade could be effected .j 
 
 In the firft place, he afked, " Would not the Company, 
 under the general terms of their charters, lay claim to the. 
 whole territorial revenues of India.'" They in fact do make 
 fuch a claim ; but he was by no means of opinion, that it had 
 any legal foundation. It muft however, be allowed, that 
 there is room for much legal difcufllon on this fubject. Under 
 this impreffion he had afked from thofe, who to local know- 
 ledge had added experience in governing India, and in con- 
 ducting the trade ; What buildings of every defcription 
 
 would
 
 . ( 9 ) 
 
 would be required by the Company, for the purpofes of 
 trade, and what would be required by Government, cx- 
 cercifmg its civil, military and financial powers ? He had 
 afked, Upon what data the compenfation for the build- 
 ings and property to be affumed by the Public could pro- 
 ceed ? He had afked, Whether the (lores required for 
 the protection and defence of the fettlements were to be paid 
 for, upon the principle of the original coft, or upon that of 
 an equitable mercantile profit ? He had afked (upon the hy- 
 pothefis of a complete feparation) What offices would be 
 required for Government, and what for Commerce, and 
 with the object of afcertaining the functions of thefe feparate 
 departments, and the expenfes which each would coft ? He 
 had afked in fine, W'hat burdens the Company had incur- 
 red in acquiring and maintaining our territorial poffeffions, 
 that he might form fome eflimate of the compenfation to 
 which they would be entitled, or to which, inreafon and in 
 equity, they would look forward ? 
 
 He appealed to the Houfe, whether thefe difficulties were 
 not of a nature that would be embaraffing, in carrying into 
 execution any plan for a feparation of the Government and 
 Revenues from the trade of India. 
 
 In the next place, fuppofmg all the preceding difficulties 
 to be overcome, Mr. Dundas adverted to the probable evils 
 which the delay, arifing from the plan of a feparation of the 
 government from the trade would produce. Recurring to 
 the actual ftate of the revenue and of the trade, and to the 
 advantages which the Public were deriving, and were about 
 to receive from the Company ; he afked, Would not the 
 fyftem of feparation create an interruption in the discharge 
 or liquidation of the Company's debts ? Would it not de- 
 range the regular progrefs of their encreafing commerce, 
 and would there not be a ferious ^danger, that while thefe 
 5 innovations
 
 ( 10 ) . 
 
 innovations were introducing, rival European powers might 
 grafp at the occafion, renew their commercial efforts, divert 
 into a new channel the ftreams which were running towards 
 Britain, and rendering London the emporium of the Eaftern 
 trade. We thus mi^ht lofe national advantages, which we 
 never might regain. We thus might be the dupes of an idle 
 and vifionary attempt, and have nothing left but the mor- 
 tifying regret of having relinquiihed practice. He afked, in 
 fine, conndering the diftance of the two parts of our Empire 
 from each other, Whether an injudicious procraftinatiorx 
 might not ihake that confidence, which fo remote a depen- 
 dency at prefent had upon the fovereignty of Britain ? And 
 whether this danger was to be incurred, merely becaufe it 
 was true in theory, and popular in opinion, that a mercan- 
 tile body was unequal to the Government of diftant Pro- 
 vinces. His realbnings, he knew, were reprobated by the 
 political principles of ancient nations, but the cafe was 
 novel ; it was not through commerce that they received re- 
 venue ; for commerce then was narrow, and could not be 
 the vehicle by which a revenue could be realized by any 
 Sovereignty. 
 
 Mr. Dundas ftated as a third difficulty, in receding from 
 the prefent fyflem of Government in India, the effect which 
 the innovation might have on the minds of the Natives. 
 They had been long habituated to look up to, and to reft 
 upon the protection of the Company. We have now (faid he) 
 after many a ftruggle in the field, and after the many experi- 
 ments which neceflarily preceded the eftabliiliment of a re- 
 gulated commmerce, the profpect of confolidating our power 
 and encreafmg our revenue. Would it be wile to recede 
 from the treaties by which we acquired our territories ? 
 Or would the deviation from them accommodate itfelf 
 to the feelings of the Natives ? It would be in vain to 
 fuppofe, that their minds, or their habits of thinking, 
 
 could
 
 could be eafily familiarized to the change ; no forefight could 
 even conjecture the confequences. The Natives of India 
 look back to the ancient fovereignty of the Moguls, and their 
 confidence in the Company has its fource in the country go- 
 vernments, exercifing power as a branch of that fubordi- 
 nation to which their forefathers were fubjedled. Would 
 the attempt to unhinge their opinions be liberal, or would 
 it be juft ? Lord Clive, to whom we owe our empire in 
 India, with a difcernment and a wifdom equal to his valour, 
 laid the foundations for confolidating the Britifh Power in 
 Afia by entwining his laurels round the opinions and 
 prejudices of the fubjugated Natives. To this political 
 forefight, his country is as much indebted to him, as for 
 his viftory at PlafTey. This great warrior and ftatefman 
 thought, that it would be wife to hold our territories by 
 grants from the Mogul. He faw that all the Native Prin- 
 ces and States, which had fprung up out of the ruins of 
 that Empire, were flickering themfelves under the forms 
 of the fallen government ; he knew that the power of 
 granting or refufing privileges, no longer, remained with 
 the Emperors of Delhi ; but he appealed to the rights of 
 thefe fovereigns, and on thefe rights engrafted the Britifh 
 Power in A fi a. 
 
 If then the Natives of India paid fo much adoration to the 
 fhadows of their departed monarchs, would it be wife or 
 politic to attempt to tear from them their feelings and 
 their prejudices: We might attempt it, but feelings will 
 flow on in their accuflomed courfe. If the Company have 
 been found a fuccefsful inftrument for the administration, 
 of our Indian Affairs, might not the affumption of the Power 
 by the State, (hake the faith of the Native Princes in all 
 the treaties which we have made with them ; and might 
 not thofe alliances, which had lately thrown the balance 
 of power in India in favor of Britain be loft, by what to 
 
 thefe
 
 thefe Sovereigns would appear a meafure, contrary to their 
 notions of our national honor. 
 
 In proof of the inexpediency of deviating from experience, 
 Mr. Dundas farther appealed to the opinions of thofe dif- 
 tinguilhed men, -who loon after the acquisition of the ter- 
 ritorial revenues had held high fituations in India: Govern- 
 ment availing itfelf of their abilities and defirous of forming 
 plans for the future adminiftration of Indian Affairs, ftated 
 to Mr. Haftings, Mr. Barwell, Sir John Clavering, Mr. 
 Francis, Colonel Monfon, Sir William Chambers, and Sir 
 Elijah Impey, the following important queftions : 
 
 Firft, Upon what political principles can Bengal, Bahar, and 
 Orijfa be held by Great Britain? Upon this fubjecl: fome of them 
 were of opinion, that it would be preferable to continue the 
 Mogul forms, to which the Natives had been habituated, 
 and others of them recommended, that the Sovereignty fhould 
 be aflumed directly by Great Britain. 
 
 Second, In whom is to be vefted the Executive Power In India ? 
 And here the opinions were equally different ; fome recom- 
 mending that it fhould be in the Governor in Council ; others, 
 that it ihould be in the Governor and Council. 
 
 Third, Under what rejlrittions Is the power of Subordinate 
 Legljlatlon to be exercifed? And on this point, there alfo exiiled 
 differences of opinion, refpecling the ihare to be given to 
 the Governor and Council, and to the Supreme Court of 
 Judicature. 
 
 Fourth, Under what title and In what manner ought the Ter- 
 ritorial Revenues to be collected? On this fubjecl: alfo the opi- 
 nions were at variance, fome recommended the Mogul Reve- 
 nue fyftera, others the financial ceconomy of Britain. 
 
 Fifth
 
 ( '3 ) 
 
 Fifth , How are- the other Revenues to be collected f That is, 
 the Duties and Cuftoms. 
 
 Sixth. By what Courts ought the Judicial Power to be admi- 
 nijlered in the Britijh Provinces in India? And here the opinions 
 turned upon the different modes of adminiflering juftice, 
 among the Natives and among the Britifh Subjects. 
 
 *' If I had found (faid Mr. Dundas) that fo many able men, 
 who either pofTefled the advantage of local information or 
 who were employing themfelves in the purfuit of it, had 
 agreed in opinion, in the anfwers which they tranfmitted 
 home upon all or upon any of thefe fubjecls, it would have 
 been an inducement to build a iyflem upon them: But from 
 their differences of opinion, I can only draw this conclufion, 
 that it is fafer to reft on the prefent fyftem, which experience 
 has rendered practicable, than to entruft myfelf to theories, 
 about which ingenious and informed men have not agreed. 1 * 
 
 Having thus {hewn the expediency of continuing the foreign 
 government, as at prefent adminiftered, Mr. Dundas then con- 
 fidered the propriety of continuing the domeftic plan of ad- 
 miniftratiori. He was aware (he faid) it might be afTerted, 
 that though the patronage was diredtly in the Company, it 
 was indirehly in the Crown. With refpect to this fubjecl, 
 he wifhed only to fix the attention of the Committee on the 
 fa 61 ; that the civil and military fervants were appointed by 
 the Directors. He by no means meant to be underftood, as 
 aflerting. that the recommendation of a perfon by the Exe- 
 cutive Power, would not meet with attention ; on the 
 contrary, he was free to confefs, that it had often done fo, 
 and that the Directors had been difpoled to liften to fnch re- 
 commendations. He was ready even to meet any objections 
 upon that topic, by the fair avowal of the degree, in which the 
 Court had liftened to the willies of the Executive Power, 
 
 C and
 
 ( H ) 
 
 and he would be happy, when that fubje6l came to be under 
 the confideration of the Houfe, if any opportunity offered 
 to ftate the extent of patronage, which had been, from time 
 to time, exercifed by Government. At the fame time he ftated 
 his full conviction, after mature confideration, that if the 
 Indian patronage fhould be vefted and concentered imme- 
 diately in the Crown, the weight of it would be too great in 
 the balance of our Government, and might prove dangerous 
 to the fpirit of the Conititution. It was enough at prefent, to 
 refer to the fa 61, that the patronage, from the appointment 
 of Writers and Cadets, and the promotion through all the 
 gradations in the civil and military departments were in the 
 Company. Upon the fuppofition however, that abufes of 
 this power had been committed, to the extent with which 
 the Company had been charged, ftill he would rather endure 
 thefe abufes, than run the rifk of alarming the beft friends 
 of their Country, by an undue encreafe ' of the Executive 
 Power. Had even the Government of India remained as 
 much unreftrained by the Executive Power and by Parlia- 
 ment, as before the eftablifhment of the prefent fyftem, by 
 the Act 1784, ftill, with all its imperfections on its head, 
 and with all the faults which marked it, he would have pre- 
 ferred a lefler to the greater evil, of placing the adminiftra- 
 tion of the Government and Revenues, in the hands of the 
 State. 
 
 The cafe, however, was otherwife, the Company could 
 nojtonger opprefs the Natives, by an unjuftifiable augmen- 
 tation of revenue", becaufe the affairs of India were under 
 the immediate controul of the Executive Power. The Com- 
 pany could no longer augment their inveftments by defpoiling 
 the Natives of the fruits of their induftry, becaufe the tenures 
 on which the lands were held were rendered permanent, and 
 the taxes on the produce of arts and manufactures were 
 known and fixed. The Company could no longer make war, 
 
 to
 
 ( '5 ) 
 
 t 
 
 to gratify the avarice and ambition of their Servants, becaufe 
 their Servants were now made refponfible to their Superiors, 
 and theie to the decifions of a Britifh Parliament. 
 
 The prefent fyflem of governing India, both abroad and at 
 home, has been found adequate to the objecls both of war 
 and of peace. In fo far as that fyflem ihall appear to be 
 experimentally erroneous, it can be varied and improved by 
 regulations, calculated to remedy thofe errors, but it would 
 be unjuflifiable rafhnefs totally to overturn it, and to enter on 
 the talk of inventing, what might, perhaps, be only more 
 perfect in clefcription. It may not be improper, at the fame 
 time, to obferve that if the prefent domeflic fyflem has 
 been found adequate to the pafl, there feems no reafon to 
 think that it will be lefs fo for the future. " I allow (faid he) 
 that when the prefent controuling Power was inflituted, the 
 Commiflioners for the Affairs of India had much to learn from, 
 the details of bufmefs, nor do I confider it as oflentation, 
 when I look back to the embarrafling fituation of the Com- 
 pany's affairs, to the difficulties which were to be'furmounted, 
 and to the fortunate iflue of our efforts, to give it as my opi- 
 nion, that itisfafer for this country to continue the prefent 
 mode of government by the Directors, controuled by the 
 Executive Power, than to recur to the fpeculative plan of in- 
 venting a more perfect fyflem, however .recommended as plau- 
 fible in theory or fplendid in experiment. So far as regards 
 myfelf, ever looking forward to the prefent moment when 
 a fyflem for Indian Affairs is to be finally devifed and adopted 
 by Parliament, it was always my object, in all the Reports 
 which I have annually fubmitted to Parliament, and in all 
 the publications on Indian Affairs which I have either patro- 
 nized, or authorized, to give to the Public evtry thing that 
 1 myfelf knew refpe6ling the fubjec~l, and to take off the veil 
 from what has been called the Arcana of Indian Politics and 
 Trade, that the plans refpefting them, in their iucceflu h, 
 
 C 2 might
 
 might lie open to the underfianding of every man, who 
 would take the trouble of perufmg and ftudying them ; it was 
 from this freedom of communication, I expected the kind 
 of knowledge would be diffufed, which could enable the 
 Members of this Houfe and the Nation at large, to examine 
 and decide upon the propofrtions which I was to fubmit to 
 the good fenfe and probity of the Britifh Nation. The Le- 
 giflature and the Public could then judge for themfelveSj 
 what fyftem of foreign and dorneflic government would be 
 beft fuited to the Afiatic interefts of their country." 
 
 " It is from knowledge of the fubjecl: alone, that I hope for, 
 or could expecl: your fupport. Whether my opinions have 
 been right or wrong upon particular fubjects, is not now 
 thequeftion ; but whether the knowledge, I have derived from 
 experience and communicated to you, is fuch, as to induce 
 you, when you (hall fairly and deliberately examine the 
 propofitions I am to lay before the Houfe, to adopt them, or 
 to honour them with your amendments, is the fubjecl: for your 
 deliberation." 
 
 Mr. Dundas then propofed, that the Board of Commif- 
 fioners fhould continue in its prefent Coriftitution j but with 
 one change, viz. That His Majefty Ihould have the power of 
 promoting, to a feat at the Board, men, who were not of 
 His Privy Council. It was in the remembrance of many of 
 the Members of the Houfe, and it was known to them all, 
 that at the period when the Board of Controul was inflituted, 
 the object was, that the Members compofing it, fhould be fe- 
 lected from thofe high Departments of the State, where, 
 as Officers of the Crown, they enjoyed emoluments which 
 would compenfate for the difcharge of this new truft. It had 
 been found, however, from experience, (whether this was 
 to be referred to the other important charges committed to 
 the Members of the Board, or whether to their afpiring at 
 the greater Offices of State) that the changes at the Board 
 
 had
 
 C '7 ) 
 
 hnd been too frequent, to enable thofe who had the imme- 
 diate refponfibility, to derive the aid they might otherwife 
 expect from their counfels and fupport. Though no member 
 who had held a feat at the Board had left it, without having 
 done himfelf honour by his labor and attention, yet he could 
 not heJp wifhing for the aid of fome members to this Board, 
 ivhofe fituations might be confidered as more permanent. 
 
 Having thus given his opinion of the foreign and db- 
 meftic Government required for Indian Affairs, he could not 
 but offer a public apology for differing in opinion, on the 
 fubject of the appointment to the Governments and Su- 
 preme Councils in India, from Lord Cornwallis,. who re- 
 commended, that this power fhould be veiled in the Crown. 
 Two reafons had induced him to prefer the continuance of 
 the prefent fyftem. One was, that the Crown had the power 
 of recalling thefe Officers, if their administration appeared 
 to be directed by any but public meafures. Another was, 
 that a Minifter might be prevailed upon from private motives, 
 or by felicitations from thofe whom it might be difficult to 
 refift, to appoint perfons whom he himfelf might not en- 
 tirely approve of. The cafe, however, was widely different, 
 when a Minifter could only recommend a character to the 
 judgment of twenty-four Perfons. This check was a proper 
 one on the Executive Power, and obvioufly tended to make 
 the Directors careful in choofing a man, whofe appointment 
 they could avow to the Public. Thefe were his reafons for 
 recommending the continuance of the prefent mode of ap^ 
 pointing to the governments in India, and he left them to 
 the con fide ration of Parliament as an apology, why he had 
 adventured to differ in opinion from the high authority to 
 which he had referred, 
 
 MR. DUNDAS now proceeded to confider the fubject of the 
 E.aft-lndla Trade, and' ft at ed the general queftion, Under what 
 
 regu-
 
 ( '8 ) 
 
 regulations ought the Trade to the EaJl-Indies 'to be m future con- 
 dueled? He prefaced his obfervations upon this fubjecl, by 
 alluding to the difficulties, which upon it, as well as on the' 
 fubjea: of government, he had experienced, from the influ- 
 ence of prevailing fpeculations and theory ; but here alfo he 
 held it to be his duty to rely on experience alone. " I wifh not 
 (feid he) to curb the fpirit of commercial enterprize' in a 
 nation where it ought to be cheriftied and encouraged ; on 
 the contrary, I wifh- to give it its utmoft fcope, confidently 
 with trie fafety of thofe who may engage in it, and with the 
 general profperity of the kingdom. Parliament has to hear the 
 claims of all parties, to liften to the reafoning by which they 
 fupport them, and to keep its judgment to one great obje6r, 
 the intereft of the Bri'tiih Empire." 
 
 * c If any branch of commerce (arrived at whatever height it 
 may be) ihall be made a iubjecl: of commercial argument, 
 and the hiftory of it not taken into view, like a law, the fyftem 
 of trade may feem to be obvious, while the application of it 
 will be found impracticable. If the Baft-India trade of Bri- 
 tain is the greateft commercial concern, which has as yet 
 occurred in the -annals of polifhed nations, it is at the fame 
 time, the moft ftriking example by which we could illuftrate 
 the jforce of the preceding experimental obfervation. Were a 
 Member of this Houfe merely to take up the account of the 
 profits of the Eaft-India trade, and then to fix his attention 
 on the furplus revenues propofed to be divided between the 
 Public and the Company, and without, looking back to the 
 viciffitudes through \vhich the trade has pafTed for nearly two 
 centuries, or examining the aids which the nation has given 
 to prop up the credit of the Eaft-India Company, as its 
 commercial representative in Afia, I can fuppofe him embrac- 
 ing the opinion, that monopolies are v baneful in their fpirit, 
 and exclufive privileges deftructive in their tendency ; and he 
 has the authority of the firft modern writers on commerce to 
 6 fupport
 
 ( '9 ) 
 
 fupport his plaufible opinion. If, however, he will look 
 back to the loffes which the Company have experienced, or 
 if he will examine the profits which, from time to time, they 
 have drawn on their capital ftock, he will probably ftart 
 back from his own {peculations, and refle<5l and deliberate 
 well, before he will give his voice for depriving them of their 
 exclufive privileges." 
 
 In this place, Mr. Dundas took an interefting retrofpecl of 
 the hiftory of the Eaft-India trade, and the fubftance of his 
 obfervationsVas nearly, as follows : " The ftaples of Afia, (he 
 faid) viz. fpiceries and aromatics, precious ftones, and wrought 
 filks and cottons, had been in eftimation among all the 
 polifhed nations, and with all the great Sovereigns in the 
 ancient and modern worlds. As the darknefs which hung 
 over Europe, during the middle ages, began to be difpelled, the 
 fame tafte for the productions of the Eaft was created by the 
 commercial efforts of the Italian Republics. By means of 
 caravans and the navigation of rivers, the produce of India 
 was brought to the fhores of the Mediterranean, and carried 
 from the ports of this fea, by the traders of Venice and 
 Genoa, to the different countries in the North of Europe. 
 The riches acquired by thefe Republicans, in confequence of 
 the exclufive privileges which they poffeffed, in the countries 
 through which the Eaftern commodities had to pafs before 
 they reached the Mediterranean ; if it had given them the entire 
 poffeffion of the trade,, at the fame time tended to roufe the 
 fpirit of enterprize and of difcovery among the other Euro- 
 pean nations. In confequence of this prevailing fpirit, the 
 Portugueie, under Vafco de Gama, difcoyered the paffage to 
 India, by the Cape of Good Hope, and in a ihort time, not 
 only annihilated the trade of the Italian Republics, but ac- 
 quired the trade and the fettlements in India, which gave to 
 Emanuel an exclufive poffeffion of all the wealth which the 
 Eaft could then lend to Europe. 
 
 " About
 
 " About the latter end of the i6th century, the Dutch be- 
 came independent of the Crown of Spain, and fent their 
 armed ihips to the Eaft-Indies. In a tew years they were 
 the rivals and fupplanters of the power and influence of the 
 Portuguefe, and at lad erefted their feveral, but connected 
 Eaft-lndia Companies, carrying on the trade upon a joint 
 flock, and under an exclufive privilege. 
 
 "This fpirit of commercial enterprize, in a fhort time, induc- 
 . ed France to engage in the Afiatic trade, and, in imitation of 
 the Dutch, to eftablifh its Eaft-lndia. Company. The French, 
 however, were not as yet acquainted with the principles upon 
 which a foreign and diftant trade could be eftablifhed, hav- 
 ing been accu itemed only to a narrow traffic with their Euro- 
 pean neighbours. 
 
 " During thefe important commercial transactions, England 
 alfo became an eager competitor in the trade and navigation 
 to the Eaftern World. PoiTefled of more national ardour and 
 equally perfevering with the Dutch, emerging too from civil 
 and religious thraldom, it determined to participate with the 
 Portuguefe and the Dutch commercial adventurers in the pro- 
 fits of the trade to the Eafl- Indies. Imitating the example of 
 the other European nations, Queen Elizabeth gave a Charter 
 to the London Company in 1 600. At firft, one or more of the 
 adventurers were entitled to carry on the trade upon their 
 own {hares, but in a Ihort time it was found necefifary, to reft 
 the whole of the concern upon a joint ftock. Inthemcceeding 
 reigns, the Crown frequently granted licences to individuals, 
 and the London Cornpany had to ftruggle, not only againft the 
 foreign Companies >of Europe, but againft the Engliili inter- 
 lopers. At lail a new Aflociation was formed, under the 
 name ,of the Engljftj Baft- India Company ; the Charter of the 
 Lou-don Aflbcjation Hill remaining. It was foon, however, 
 found, that two Companies belonging to the fame nation, 
 
 neither
 
 neither could carry on the trade with profit to themfelves, nor 
 for the intereft of their country. The London Company had, 
 befides, purchafed up the greateft part of the fhares of the 
 Englifh; the ruin of both would have followed, had not the 
 whole fubject been referred to Lord Godolphin* and had not, 
 upon his award, the prefent United Company of Merchants of 
 England, trading to the Eaft-Indies, been eftabliihed. From 
 this period to the middle of the prefent century, the trade to 
 the Eaft-Indies had nothing peculiar to diftinguifh its cha- 
 racter in Britain from the other countries in Europe ; the 
 fhips of the European Companies, in general, carried out 
 bullion and produce, and brought back goods from India and 
 China to be difpofed of at our fales in London. Towards 
 the middle of the prefent century, however, France formed 
 the bold defign of acquiring territorial pofTeflions in India, 
 and the druggie between the French and the Englifh Com- 
 panies terminated, in our acquiring extenfive provinces, yield- 
 ing a revenue of many millions fterling, and comprehending 
 about twenty millions of inhabitants. This triumph of Eng- 
 land was ratified by the memorable peace of 1763. The 
 Houfe may eafily form an idea of the (late of our 
 Afiatic commerce, at this juncture, from the folio wing flate- 
 ment: 
 
 From 1731 to 1741, on an average often years, there was 
 paid for bullion exported, ..464,574; for goods and (lores 
 exported, .152,609 ; the bills drawn on the Court of Direc- 
 tors amounted to .167,410 ; and the amount of the fales in 
 Europe was .1,700, 675. 
 
 From 1741 to 1747, on the average of fix years, th^rewas 
 paid, for bullion exported, .567,238 ; for goods and (lores 
 exported .189,411 ; the bills drawn on the Court of Direc- 
 tors amounted to .230,9 14 ; and the fales of goods amounted 
 to .1,907, 105. 
 
 From
 
 From 1 747 to 1 757, on an average of ten years, there 
 was paid, for bullion exported, ..767,057 ; for goods and 
 (lores exported -267,730 ; the bills drawn on the Court of 
 Directors amounted to .164,482 ; and the fales of goods, 
 
 amounted to .2,143,459- 
 
 From 1757 to 1767, on an average of ten'years, there 
 was paid, for bullion exported, .121,287; for goods and 
 ftores exported .428,707 ; the bills drawn on the Court of 
 Directors amounted to .432,891; and the fales of goods 
 amounted to .2,3 15, 573. 
 
 Mr. Dundas, having thus given a View of the Company's 
 Affairs, when their fituation was merely commercial, or 
 changing to the novel character of delegated Sovereigns 
 drawing revenues from rich Provinces, to be realifed in 
 Britain through the medium of trade, (after again adverting to 
 the magnitude of our poffefTions, and to the acquifition of the 
 Duannee) obferved, that the Company was the instrument 
 of Government, remitting a revenue which was to furniih a. 
 capital for trade, exclusively of the exports upon which 
 they had formerly depended. Adverting again to the laudable 
 interferences of Parliament to obtain, upon evidence, a 
 knowledge of the actual value of the Britiih Pofleflions. in 
 India, and to the fucceffive regulations in different Ads, 
 down to the period when the prefent Syftem of Controul was 
 eflablifhed, in 1784 ; he concluded " That the Company had 
 now become the organ by which the Indian Empire of Bri- 
 tain ought to be adminiftered." 
 
 Upon this fyftem Mr. Dundas remarked, there were a 
 variety of opinions : by one fet of men it was maintained* 
 that ^ it was a political abfurdity, to entruft to a Com- 
 mercial Aflbciation, the Government of an Empire; fmce. 
 the very nature of this power rendered it impracticable for 
 the Company's fervants, either to conduct commerce upon 
 
 proper:
 
 C *3 ) 
 
 proper principles, or to govern our fubjects in India 
 wifely or well. " But is it not true, faid he, that the reve- 
 nues of India mud pafs to Britain through the medium 
 of trade ? Is it not true, that the manufacturers of Britain, 
 \vhether we view them as exporting produce wrought up 
 from the materials of our own country, or as drawing their 
 gains from produce that depends on raw materials imported 
 from the Eaft, have become rich ? Is it not true, that the 
 tribute from India cannot be realifed in Britain, with iafety 
 to the State, through any other medium, but that of a re- 
 gulated trade ? Is it not true, that from the acquifition of the 
 Duannee to the prefent times (particularly fmce the controul 
 of the Executive Power has been fuccefsfuily employed to 
 prevent abufes in the adminiftration of the Government and 
 Revenues of India) that the trade has been rapidly improving 
 and encreafing, and that Parliament have had annually the 
 evidence of this fact before them ? The inference is obvious, 
 that in the trade, as well as in the government of India, 
 Experience may be at variance with plaufible Speculation ; 
 but that in trade, as well as in government, we muit rely on 
 
 Here Mr. Dundas laid before the Houfe the following in- 
 terelting ftatement ; by which, he obferved, the encreafe of 
 the trade, fmce the acquifition of the Duannee, would be 
 fully illuftrated. 
 
 From 1767 to 1777, on an average often years, there was 
 paid, for bullion exported, .110,042; for goods and (lores 
 exported .489,081 ; the amount of the bills, drawn on the 
 Court of Directors, was .458,768 ; and of the fales in Eu- 
 rope .3, 3 29, 13 6. 
 
 From 1777 to 1784, on an average of feven years, there 
 was paid for bullion .5,653 ; for goods and ftores exported 
 .500,089; the bills drawn on the Court of Directors 
 amounted to .76 1, 425 ; and the fales of goods to .3, 185,556. 
 
 D 2 From
 
 *4 
 
 From 1784 to 1790, on an average of five years, there was- 
 paid, for bullion exported, .617,930 ; for goods and ftores 
 exported -63.5,145, the bills drawn on the Court of Di- 
 rectors amounted to . 195515985 ; and the fales of goods 
 amounted to .4, 572,466. 
 
 From 1790 to 1793, on an average of three years,, there 
 was paid, for bullion exported, ..466,893 ; for goods and 
 ftores exported -935,776 ; the bills drawn on the Court of 
 Directors amounted to .668,366; and the fales of goods, 
 amounted to .5, 103,094. 
 
 Having thus explained upon evidence, what the exifting 
 interefts of Britain are in India, Mr. Dundas proceeded 
 to examine the arguments which had been laid before him, 
 upon the fubjecl: of the open Trade. 
 
 In the firft place, he had been told, that the revenue might 
 pafs through the medium of the Company, though their 
 exclufive privileges were to ceafe and determine ; and if this 
 were not admitted, that the revenue might be diftributed 
 among the Private Merchants, and through them be, rea- 
 lifed in Britain, as fafely, as through the Company. Before 
 he could aflent to either of thefe opinions, it became ne- 
 ceffary for him to advert to the coniequences of admitting 
 them. " I am of opinion, faid he, after viewing the magni- 
 tude of the revenue and of the furplus, after difcovering 
 the degree in which the Public is to participate of it, and after 
 having had it proved to me upon evidence, that the Company 
 is the moft fafe vehicle, through which, the remittances of 
 this furplus can be made either to itfelf or to the Public ; 
 that it would be unwife to try the experiment of refort- 
 ing to any other fyftem." 
 
 " But allowing, that the open trade might become a 
 means of realifmg the revenue in Britain, there were 
 coniequences both to Britain and to India, which might 
 
 reiult
 
 refult from the experiment, and they would readily be forefeen 
 by the Houfe. Ir the inhabitants of Britain were to be per- 
 mitted freely to emigrate to India, colonization muft neceffarily 
 take place." Mr. Dundas wifhed therefore, to know, whether 
 this was an experiment that ought to be tried ? and, whether 
 the proofs which we have had, of the pernicious effects of emi* 
 gration, would not be multiplied by fuch a meafure ? Setting 
 afide, however, this probable evil, the more obvious one of 
 the effect of colonization upon India itfelf, muft be delibe- 
 rately examined, before we can adventure to authorize it. 
 " All the gentlemen, he faid, who have refided in India, 
 with wh9m I have converfed, and all the information which 
 I have received from thofe, at prefent in the moft important 
 ftations in India, either political or commercial, agree, that 
 an unreftrained liberty to the Europeans, to emigrate to and 
 to fettle among the Indians, would, in a fhort time, annihi- 
 late the refpe6t paid to the Britifh character, and ruin our 
 Indian Empire. Indeed, we have only to advert to what 
 muft be the fituation of the fettlers and of the natives, and we 
 ihall at once difcover, that this opinion has a folid foun- 
 dation." 
 
 If numbers were to emigrate to India, they muft find out 
 habitations and occupations in that country. In acquiring the 
 former, they muft drive the natives from the fpots, upon 
 which they and their forefathers have lived ; and in pur- 
 fuing the latter, the rivalfliip would enhance the price of 
 labor, to the degree, which would foon render the profits 
 from Indian imports almoft nothing. But fuppofmg thefe to 
 be only probable mifchiefs, there is one, which is certain, 
 and which materially affects the prefervation of our Indian 
 Empire. An indifcriminate and unreftrained colonization 
 would deftroy that refpect, or rather eradicate that feeling,, 
 which is fo general among the Natives, of the fuperiority of 
 the European character. It is a fact, that upon this feeling,
 
 of the fuperiority of the Europeans, the prefervatlon of our 
 Empire depends, and it is owing to the limited number of 
 them, and to their being the covenanted fervants of the 
 Company, or licenfed inhabitants, that the idea of the 
 fuperiority is fo general, or that it is fo effectual a means 
 of adminiftering the Government of our Provinces. " I 
 cannot, faid he, illuftrate thefe obfervations better, than 
 by referring -to the correfpondence between Meer Coflim 
 and Mr. Vanfittart; the Nabob complained to this Go- 
 vernor, that the Natives, were opprefled and har ailed by 
 numbers of vagrant Europeans ; thinking perhaps, that 
 the Nabob was alarmed, without reafon, Mr. Vanfittart 
 replied, that thefe Europeans were too contemptible to 
 deferve notice; ' They may be contemptible, anfwered 
 the Nabob, in your opinion, but the dog of an European 
 is of confequence among the timid Natives of this Coun- 
 try.' If then the fuperiority of the European character 
 mud be maintained in India, it is impoflible for us to 
 think of authorizing an unreftrained emigration." 
 
 There is one view of the fubjecl:, which muft forcibly 
 flrike every man's obfervation the moment it is brought 
 before the Houfe. Adventurers finding their hopes difap- 
 pointed, and that the fortunes they had promifed themfelves 
 exifted only in their own imagination, being too without re- 
 fource, might feek, and would find employment in the 
 armies of the Mahrattahs and of Tippoo Sultan. " Would it 
 be wife then, to fill the armies of our rivals in India with re- 
 cruits from Europe, or can we luppoie, that the open trader 
 would confcientioufly hefitate to lupply the native powers 
 with the military (tores, by which their armies might firft 
 refill us, and then wreft from us the Empire which we 
 pofleis." 
 
 In
 
 In the next place, Mr. Dundas ftated, that he had been 
 told, the exports of Britifh produce would be encreafed, if 
 the trade were laid open. However fpecious this opinion 
 might appear, it became necefiary that Parliament (hould 
 know the fact, and for this purpoie, he would felect two or 
 three articles, of what might certainly be confidered as the 
 principal articles of Britiih manufacture. Woollens would be 
 allowed to be the firft of our ftaple commodities. It was eafy 
 for the fpeculator, while he merely confidered the extent of 
 our dominions in India, and that they were inhabited by twenty 
 millions of our fubjects, to fancy, that here he would find un- 
 bounded fales for his goods ; but he reflected not, that the 
 climate was againft the wear of woollens, he reflected not, 
 that the religious prejudices of many of the calls of the Na- 
 tives, forbad their ufmg them ; he knew not, perhaps, that the 
 drefs of the Natives is as fixed and local, as their manners. 
 It was eafy alfo for the fpeculator to fuppofe, that in fuch a 
 country as India, he could find a market for any quantity of 
 earthen ware, but he did not reflect on the bulk of the com- 
 modity ; he had not eftimated the amount of the freight of 
 it, or if he had, perhaps he did not know that the religious 
 prejudices qf many of the cafts forbad their ufmg, what had 
 been fabricated by the impure hands of infidel flrangers. It 
 was eafy, in like manner, for the fpeculator to imagine, that if 
 he could find a fale for his cottons in India, his riches would 
 keep pace with his defires ; but did he hope to rival his matter 
 in an art, in which he was only an imitator, or could he ex- 
 pect, (comparing the high price of labour in Europe with the 
 low price of it in India) that he could underfell him there. 
 There were fome articles of Europe manufactured cottons,, 
 which, from the fuperior tafte and elegance of the patterns, 
 might find a fale in India, and he hoped they would encreaie ; 
 but from the nature of the cafe, the fuperiority of the Indian 
 manufactures, muft remain with the Natives. " I mention 
 thefe particulars, faid Mr. Dundas, merely to moderate th 
 
 expec-
 
 expectations which have been entertained in confequence of 
 the fpeculation of an open trade to India." 
 
 In the third place, Mr. Dundas obferved, that it had been a 
 favorite topic of late, to declaim againft monopolies, and to 
 confound what was truly a monopoly, with the exclu five 
 privilege of the Eaft-India Company. A monopoly, he ob- 
 ferved, gives to individuals, or to affociations, the power 
 of bringing, what quantity of goods they may chule into the 
 market, and of affixing on them whatever price their 
 avarice may fuggeft. The Houfe, however, would at once 
 diftinguiih between this narrow afpect of a monopoly, and an 
 iexcluiive privilege given by the Legiflature to a Company, 
 proceeding upon a capital equal to the magnitude of the 
 concern, and fubjeet to regulation, and to public controul : 
 This diftinction being admitted, the Legiflature will not 
 bedifpofed rafhly to change a current which is turning the 
 greateft wheel of Britifh commerce, which is giving food to 
 induftry and wealth to regulated enterprize, and which is 
 about to become, independently of what we draw from duties 
 and cuftoms, one of the refources of the Nation. 
 
 It had been of late a fafhion in our manufacturing towns, 
 to hold meetings, and to come to refolutions, that the ex- 
 clufive privilege of the Eaft-India Company was a monopoly, 
 and that it was for the intereft of the manufacturers, this 
 monopoly fhould be done away. " I would with to aik the 
 projectors of fuch refolutions, whether they have examined 
 what the Company has been, and what they now are ? 
 To whom did they owe the riches which they had acquired 
 from the cotton manufactures ? to the Eaft-India Company ! 
 To whom had Britain been "indebted for a great increafe of 
 its fhipping ? to the Eaft-India Company ! If from other 
 fources our induftry and navigation have been encreafed, the 
 original obligation is not, on that account the lefs, and ought 
 4 not
 
 not to be forgotten. Some fmall gratitude, furely, is due 
 for all thefe benefits." 
 
 In eftimating tbe merits of the Eaft-India Company, Mr. 
 Dundas dated his wifhes, that thofe who form a different 
 opinion, from that which he entertained on the fubject, 
 would examine accurately what was the real proportion of 
 gain, from the India trade, received by the Proprietors of 
 Eaft-India flock. It ought to be remembered on this fubje^l, 
 that the capital is now five millions, and the whole dividend, 
 in compensation for fuch a capital, and for all the rifks and 
 dangers which have repeatedly attended the trade, is not 
 more than .400,000, out of a fum of no lefs than .3,750,000, 
 which is portioned out among various other interefts. Of this 
 fum, the merchants and {hip-owners annually receive about 
 .850,000; the charges of merchandizes amount to. 3 50,000; 
 the goods exported, including private trade, at the molt mode- 
 rate computation, do not amount to lefs than . i ,550,000, and 
 the cuftoms and duties paid to the Public are more than a 
 million annually. Such being the diftribution of the returns 
 on the India trade, it would be abfurd to impute to the Eaft- 
 India Company, any charge of receiving exorbitant gains, at 
 the expenfe of the Public or of individuals of any defcription. 
 In fact, they have not received, nor are they likely to receive 
 the legal intereft of the money, daily paid as the price of their 
 flock. It is believed, few individuals would be iatisfied with 
 fuch a return on a commercial capital, and it behoves think- 
 ing men to confider well, before they allow themfelves to be 
 led away by general declamation, on topics, which are to 
 tally foreign and inapplicable to the fubjecl:. 
 
 Mr. Dundas then proceeded to call the attention of the Houfe 
 to the probable ftate of the Eaft-India Company, fuppofing it 
 poflefled of no exclufive trade to India. " I am afraid, faid he, 
 that many perfons, who indulge themfelves with the fan- 
 
 E guine
 
 ( 30 ) 
 
 guine hope of great emoluments, arifmg out of an open 
 trade to India, do not advert to the ftate of the Eaft-India 
 Company, independently of its exclufive rights. If the ex- 
 clufive charter fhould expire in 1794, ftill the Company 
 would be a body corporate in perpetuity, and entitled to trada 
 upon its joint ftock. To whom, in this cafe, would the 
 mod important feats of trade in India belong ? to the Com- 
 pany undoubtedly. Under their original and perpetual char- 
 ters, they have legally purchafed or acquired Fort St. George, 
 St. Helena, Bombay and Calcutta, and long before they were 
 poflefTed of territories, or of the Duannee. Thefe .pof- 
 fefions are their patrimonial property, and cannot be 
 taken from them. Fort St. George was made a fettlement 
 by the Old Company in 1620, St. Helena in 1651, Bombay 
 in 1668, Calcutta and Fort William in 1689. Upon the 
 whole, exclufive of the Duannee, they have an unalienable 
 right to valuable landed pofleflions, amounting at leaft, to 
 ;. 2 50,000 per annum. In addition to thefe, the whole fac- 
 tories and commercial eftablifhments, both in India and in 
 the Eaftern Seas, undoubtedly belong to them. Agreeably to 
 the principles he had already detailed, Mr. Dtmdas obferved, 
 that he muft take for granted, that the government and terri- 
 torial revenues are to remain with the Eaft-India Company, 
 and of courfe, that they muft be confidered as poflefled of all 
 the capital, and of the confequent advantages likely to arife 
 from being the remitters of the public revenue, and thefe 
 were equal in amount to the whole tribute which India can 
 afford to pay to this Country. Under thefe circumftances he 
 might furely afk ; whether any individual- would hazard his 
 trade, in an hoftile competition with the Eaft-India Com- 
 pany ? And whether it would not be rafh to difturb the efta- 
 blifhed fyftem of commerce, when there were forcible reafons 
 for continuing it, and fcarcely any argument in favor of a 
 contrary fyftem. This topic he felt to be invidious, and 
 therefore hedeclined enlarging upon it, he would howevertake 
 
 the
 
 ( 3' ) 
 
 the liberty of fuggefting to thofe who were difpofed to pur- 
 fue an inyeftigation of this fubject, whether the Indian trade 
 of the foreign European nations did not, from its actual ftate, 
 tend to confirm the opinion, that it would be unavailing in 
 the private trader to enter into a rival competition in the 
 trade to India, .againft the Eafl-India Company of Great 
 Britain. 
 
 ., j. H -, '^ 
 
 Before the palling of the Commutation Act fome of the 
 private merchants had had an opportunity of drawing pro- 
 fits from a contraband trade in tea to Great Britain, but fmce 
 that event this fource of profit had been nearly exhaufted, 
 and he believed, that thofe, who had recently endeavoured 
 to draw profits from it, had from their lofles, receded from 
 the enterprize. 
 
 Having thus confidered what theBritiih India trade is as a 
 monopoly (if that term ihall frill be confounded with an ex- 
 clufive privilege) Mr. Dundas took an interefting hiftorical 
 retrofpect of what it had been, when that monopoly had 
 been interrupted. During a confiderable part of the pro- 
 tectorate of Oliver Cromwell, he obferved, that the private 
 traders had not only been allowed to try the experiment 
 of the India trade, but authorized by a commhTion, in 1 654-5, 
 to engage in it. The trade from this period ^1657, there- 
 fore, might be confidered as open and free, feveral circum- 
 ftances had contributed to prejudice the Protector againft 
 monopolies. The moft dHlinguiihed writers on trade in 
 England had inveighed againft them ; and in particular againft 
 the monopoly of the Eait India Company, while the authors 
 on the fame fubject, in Holland, had defended the privileges 
 of their Eaft India Companies ; the difputes too, between 
 the Dutch and Englifh Eaft-India Companies, from 1620 
 to the treaty which Oliver dictated in 1654, probably pre- 
 
 E 2 judiced
 
 jndiced him againfl Companies of every kind. It appears 
 however, that upon the trade being opened in England, 
 the Dutch took an unneceflary alarm. In Thurloe's State 
 Papers there is an interefling letter from Oliver's Envoy at 
 the Hague, intimating, " that the Merchants at Amfterdam 
 confidered the opening of the navigation and commerce to 
 the Eaft Indies, to be a meafure that would injure the 
 Eaft India Companies of Holland." Though Cromwell 
 opened the trade for four years, the experiment foon con- 
 vinced him, that his own meafure was as rafh, as the 
 jealoufies and apprehenfions of the Dutch were unfounded. 
 In three years he difcovered, that the Company's trade, (for 
 he did not prohibit them from a competition with the 
 private adventurers) was almoft ruined, and that the Dutch 
 had taken the opportunity of feizing on Calicut, on Co- 
 lumbo in the Ifland of Ceylon, on Manarr, and Jeinapat- 
 nam. Cromwell therefore, in this inftance, found it expe- 
 dient to alter his opinion, ( though that perfon, it wilJr be 
 allowed, was not in the habit of giving up his preju- 
 dices) and to reftore the charter in 1657. What is fmgular 
 enough, in this event, is, that the private traders themielves 
 were the firfl to petition the Protector to reftore the Com- 
 pany's Charter ; and what {hews the raihnefs of the meafure r 
 in the ftrongeft degree, is, that when the Company were re- 
 eftablifhed, upon a joint flock, of 739,782, only 50 per 
 cent, of this fum was fubfcribed for, and deemed the capital 
 flock of the Company ; if Charles II. in 1660, renewed the 
 Company's Charter, his wants, as well as thofe of James 
 II. led them to grant licences to individuals, the majority of 
 whom became bankrupts. 
 
 A fimilar experiment, though to a lefs extent, was tried 
 fome years afterwards. In 1683, on the failure of the pay- 
 ment of a paltry 4uty, a handle was made to cut down the 
 Charter of the old Eaft India Company ; and for a loan of 
 two millions, at 8 per cent, the general Society, or Engli/b 
 Eaft India Company, was eftabliihed by a Charter, the terms of 
 
 3 which
 
 ( 33 ) 
 
 which gave to this incorporated body a right either to trade 
 on their feparate (hares in the capital, or to unite together as 
 a joint (lock, the (hares of as many individual Proprietors 
 as chofe to carry on the trade in that manner. Here there- 
 fore a fair opportunity was given to make the experiment of 
 trading as private or individual adventurers, or upon a joint 
 (lock. In a (hort time, this laft method of trading was found 
 to be fo preferable a iyftem, that when the two Companies 
 were united, not more than . 7,000 remained belonging 
 to the leparate Traders of the general Society. The 
 inference. from theie events is, that not only the experience 
 of other nations, but that of our anceftors, prove to us, 
 the danger of the fpeculation of an open Eaft India Trade. 
 
 . 
 
 Having thus examined what the trade is with an exclufive 
 privilege, and what it was, when this privilege was inter- 
 rupted, Mr. Dundas entered into an examination of the 
 complaints which had been brought againfl the Eaft India 
 Company. It had been faid, that the Company having a 
 capital provided for them in India, are lefs anxious than they 
 ought to be, in enlarging their export trade, and that thus 
 they did not fufficiently encourage the induftry of the manu- 
 facturers. It 'had been faid,' that they were, not fufficiently 
 attentive in bringing home the proper quantity of the raw 
 materials, required by our manufacturers. It: had been faid> 
 that they have not provided for the remittance of the for- 
 tunes of individuals from India, by means of trade, and that 
 the effect of the inattention of the Company, an thefe re- 
 fpecls, had been to create a clandeftinfc trade injurious to the 
 commerce, the revenues and the navigation of Great 
 Britain. 
 
 On the firfl of thefe fubjecls, Mr. Dundas obferved, that 
 fmce th.e acquifition of the territorial revenues, and particu- 
 larly fmce the laft peace, the exports from Britain had been 
 
 greatly
 
 '( 34- ) 
 
 greatly encreafed, and by the meafures which he was tb pro- 
 ipofe, for the confideratioh of the Houfe, he did not doubt 
 but that the export trade would be carried on, as far as 
 the demands in India would bear. ' 
 
 On the fecond of thefe objections, he ftated, that the im- 
 /ports of raw materials to Britain amounted 10^.700,000 annu- 
 ally, and though this might not be the quantity required, it 
 muft be allowed, that the Company had made meritorious 
 efforts. Means however would be propofed, for enabling the 
 manufacturer to fupply himfelf with raw materials, through 
 the Company's ihips, as well as at their fales. 
 .:." juTLil .:. . n/i 'l* ojJsifJD^ qrfi io v.-^Vi ~rij 
 
 On the third of thefe objections, he obferved, that the 
 difficulty of fending home private fortunes would be admitted ; 
 but that the error was in the Legiflature, not .in the Com- 
 pany. By an Act of Parliament, the Company were limited, 
 in their acceptance of bills, to .300,000 in any one year, 
 but this error would be done away, by the plan of remitting 
 the debts of the Company from India, and making them 
 payable in Britain. 
 
 i'j ^.-ii.^tu Y>U^;;:J/, uxtV o rrlfi'i 
 
 On the laftof thefe fubjects, he obferved, that it was con* 
 necled originally with the error of prohibiting the remittance 
 .of fortunes from India, becaufe thefe had furniilied capitals to 
 clandefline traders, but as he meant to propofe, that the 
 Company (hould be obliged to provide (hipping, at a mo- 
 derate rate of freight, to carry out goods to India, for all 
 thofe who might chufe to enter into the trade, and to bring 
 home raw materials for the manufacturer, he confidered 
 that the fortunes of individuals would find an eafy and a lafe 
 channel of remittance to Britain, and doubted not, but that the 
 experiment of extending the export and import trade, would 
 do away the temptations to engage in the clandeftine trade, 
 
 and
 
 ( 55 > 
 
 and would, in fact, annihilate it. " In this way, faid Mr. 
 Dundas, I truft that I (hall not have been found inattentive 
 to the mercantile interefts of the Britifh Nation at large, nor 
 to thofe of the Eaft-India Company; I doubt not, but that the' 
 plan which I have adopted, and at lafl arranged with the- 
 Eaft -India Company, will meet with the approbation of the 
 Public. To thofe who have been looking to the fubject, im 
 one point of view only, and, in fancy, imagining tothemfelves 
 the rewards of their {peculations, I cannot expect to give- 
 fatisfaction ; but if M arliament ihall difappoint them in their 
 unreafonable expectations from- {peculation,., it will, at the 
 fame time, in preventing them from diffipating the wealth 
 they pofTefs, have infured to them their fortunes, and been; 
 the guardian of the patrimony of the Nation. My plan is- 
 to engraft an open trade upon the exclufive privilege of the 
 Company ; and to prove by experiment, firft, - how far the 
 complaints, to which I have referred, are well founded ; 
 and next, how far it is practicable to cure the evil, without 
 injury to the Public,. We thus may not only prevent the 
 commercial adventurer of England or Ireland from being 
 borne down by the Company in an hoflile competition, but 
 afford to them, in their enterprizes and fpeculations, its fofter- 
 ing protection." 
 
 F :swofii sHifnuQnod f:ooi orfj ad oi si 1*^ lludl i-Lvis 
 Mr. Dundas concluded with apologizing to the Houfe 
 for having folong detained them upon a fubjecl:, into which 
 commercial men, or commercial oeconomifts can-only be fup- 
 pofedto enter; "but a Britifh Legiflature, he faid, have to 
 reflect, that our commercial refoutces are immenfe, that what- 
 ever can preferve them, or add to them, is prefer ving and add- 
 ing to the greatnefs of the Empire ; that in vain we Ihall look 
 at the envied fituation in which we are placed in Europe ; in 
 vain we ihall expect permanency of refpect to the Britifh Power 
 and Character, among nations, removed from us nearly half 
 the circumference of the world; that in vain we fhall, at 
 
 the
 
 the expenie of treafure and of blood, have founded and confor 
 lidated an Indian Empire ; in vain, we ihall. be feeking to 
 open the markets of China, for the encouragement of the (kill, 
 the induftry, and the enterprize of the Britjfh Artizan, Mer- 
 chant and Navigator; that in vain we fh^ill have devifed 
 a fyftem of Government, and/judicial, financial and military 
 powers to fupport it, if WQ do, not, with theie efforts * liften 
 to the claims of the Company, who have actively promoted 
 the intereft and greatnefs of their Country ;. if we do not 
 connect with the confidence, which, we propofe, to place in 
 them, encouragements fuited to the claims o the refpeeta- 
 bleand numerous manufacturers, whofe fkillj whofe wealth, 
 and whofe. enterprize have fecondedand rewarded their own, 
 and the efforts of the greateft mercantile AfTociation in the 
 world : An Aflbciation, who have been fupported by, an.d.arQ 
 about reciprocally to fupport their protectors : An AfToeiation, 
 who, from their fpirit of enterprize and liberality of com- 
 mercial principles, are ready to forward every laudable, but 
 regulated enterprize of their fellow fubjects. 
 
 " I own, that next to theinterefts of my country, the profpe- 
 rity of the Eaft India Company, in the management of whofe 
 bufinefs I have had my lhare, claims my firit public regard; 
 and I Ihall feel it to be the moft honourable moment of 
 my life, if I have fuggefted opinions to the JLegiflature, 
 leading to a fyflem of Indian Affairs, for the general advan- 
 tage of Great Britain. 
 
 ' ; ^;jU fi:i I IT:'' .-:; --j -.>:b:v^ 
 
 *' In my prefent ftatementr I have referred only to an ex- 
 planation of the leading principles which govern my opi- 
 nion. It will readily occur to the Houfe, that there are many 
 nints, which in detail, will require minute explanation ; 
 hall, therefore, without formally moving any reiblutions, 
 have them printed ; and, on Monday next, iubmit them to the 
 Committee, who may continue the confideration of them, 
 from day to day, till they {hall come to a decifion upon this 
 great national fubie&." 
 
 RE SO-
 
 RESOLUTIONS prppofed to the HOUSE op COMMONS; 
 
 BY THE RIGHT HONOURABLE 
 HENRY DUNDAS. 
 
 APRIL 23, 1793, 
 
 354709
 
 I. 
 
 THAT all the Territorial Acquifitions obtained in the Eaft- 
 Indies, with the Revenues of the fame, (hall remain in the Poffeffion 
 of the Eaft-India Company, during their further Term in the exclufive 
 Trade, without Prejudice to the Claims of the Public or the Com- 
 pany, fubjed: neverthelefs to fuch Superintendence and Controul, and 
 to fuch Appropriations of the Territorial Revenues and Profits of Trade, 
 as are hereinafter fpecified. 
 
 II. 
 
 That Commiflioners, to be appointed by His Majefty, (hall form a 
 Board, and be inverted with Authority to fuperintend, direct and con- 
 troul all Acts, Operations and Concerns, which relate to the Civil or 
 Military Government, or Revenues of the Britifh Poffeffions in India, 
 in like Manner as the Commiflioners appointed by virtue of an Adi of 
 the Twenty-fourth Year of His prefent Majefty, intituled, " An Adt 
 " for the better Regulation and Management of the Affairs of the Eaft- 
 " India Company, and of the Britifh PoflefTions in India, and for 
 " eftablifhing a Court of Judicature for the more fpeedy and effectual 
 " Trial of Perfons accufed of Offences committed in the Eaft-Indies," 
 were impowered to do*by the faid Aft, or by any other Act or Acts 
 of Parliament, with fuch further Powers, and under and fubject to fuch 
 other Rules, Regulations, and Reftrictions, touching or concerning 
 the faid Civil Government, and the Appropriation of the faid Revenues, 
 as lhall be now made and provided by the Authority of Parliament. 
 
 F a HI.
 
 40 ) 
 
 III. 
 
 That the??alaries and Allowances, and all Charges and Expences 
 attending the Execution of His Majefty's Commiflion in that Behalf, 
 ihall be paid and defrayed Quarterly by the faid Company, on a Cer- 
 tificate of the Amount thereof under the Hand of the Prefident of 
 the faid Board for the Time being, to the Court of Directors of the 
 faid Company. 
 
 IV. 
 
 That it appears to be proper to continue the Government of the 
 Prefidency of. Fort William in Bengal, in a Governor General and 
 Three Counfellors, and to continue the Government of each of the Pre- 
 fidencies of Fort Su George and Bpmbay refpectively, in a Governor 
 and Three Counfellors, with fuch Powers, and under fuch Regulations, 
 as by any Act or Acts of Parliament, the Governor General, Governors 
 and Counfellors of the faid Profidencies reflectively have been, or 
 are invefted with, for the Government thereof. 
 
 V V. 
 
 That it appears to be expedient to continue the Power vefted in His- 
 Majefly, to recal any of the Company's Officers and Servants in India, 
 fuch Recal being fignified to the Directors, by an Inftrument it Writ- 
 ing, under His Majefty's Sign Manual, counterfigned by" the Prefi- 
 dent of the Board of Commifiioners for the Affairs of India; and that 
 the Power of the Court of Directors, to remove or recal any of the faid 
 Officers or Servants, be alfo continued. 
 
 VI. 
 
 That it appears to be fit and proper to continue to the Eaft-India 
 Company their exclufive Trade, within the Limits now enjoyed by 
 them, for a further Term of Twenty Years, to be computed from the 
 ift of March, 1794, liable to be discontinued at the End of fuch Pe- 
 riod,
 
 C 4i ) 
 
 'ik)d, if Three Years Notice mall previoufly be given by Parliament; 
 fubject neverthelefs to the Regulations hereinafter fpecified, for pro- 
 moting the Export of Goods, Wares, and Merchandizes, of the 
 Growth, Produce, or Manufacture of Great Britain or Ireland, and for 
 encouraging Individuals "to carry on Trade to and from the Ead- 
 Indies. 
 
 Vll 
 
 That it appears to be expedient to make it lawful for any of His 
 Majefty's Subje&s,. refident in Great Britain, or in any other of His 
 Majefty's European Dominions, to export from the Port of London, 
 in Ships to be provided by the Eaft-India Company, on the proper 
 Rifk and Account of the Exporters, to any of the Ports or Places 
 ufually vifited by the Ships of the faid Company, on the feveral Coafts 
 of Malabar and Coromandel, or in the Bay of Bengal, in the Eaft-In- 
 dies, or the Ifland of Sumatra, any Goods, Wares, or Merchandizes, 
 of the Growth, Produce, or Manufacture of the faid European Do- 
 minions, except Military Stores and Ammuniton, Malts,, Spars, Cord.- 
 age, Anchors, Pitch, Tar, and Copper. 
 
 VIII. 
 
 That it appears to be expedient to make it lawful for any of His 
 Majefty's Subjects in the Civil Service of the faid Company in 
 India, or being refident there by Leave or Licence of the faid Com- 
 pany, or under their Protection 'as Merchants, to confign and put 
 on board the Ships of the faid Company, bound to Great Britain, 
 any Goods, Wares, or Merchandize (except luch Piece Goods as are 
 hereinafter mentioned), in order to the fame being imported on the 
 Rifk and Account of the private Owners thereof, at the Port of Lon- 
 don, under the Regulations hereinatter fpecified, fo that the Tonnage 
 to be required for that Purpofe exceeds not the Quantity of Tonnage, 
 which the Company (hail be obliged to provide for the private Trade.. 
 
 IX. 
 
 That during the further Term to be granted to the Company, all 
 Perfons, except the Company, and fuch as mall- be licenfed by them 
 
 ).'> for
 
 ( 4* ) 
 
 for that Purpofe, (hall be reftric"ted from importing into Great Bri- 
 tain any India Callicoes, Dimities, Muflins, or other Piece Goods made 
 or manufactured with Silk or Cotton, or with Silk and Cotton mixed, 
 or with other mixed Materials ; but that if the Company, by them- 
 felves, or others under their Licence, fhall not import a fufficient 
 Quantity of fuch Goods to keep the Market fupplied therewith, at rea- 
 fonable Prices, to anfwer the Confumption of Great Britain (as far as 
 the fame are not prohibited to be worn or ufed therein) and for Ex- 
 portation, it fhall be lawful for the Board of Commifiioners for the 
 Affairs of India to make fuch Regulations and Reflections for admit- 
 ting Individuals to import the fame refpectively, as the Circumftances 
 of the Cafe may appear to them to require. 
 
 X. 
 
 That the Company be laid under an Obligation to provide, at rea- 
 fonable Rates of Freight, between the Thirty-firft Day of October in 
 each Year, and the Firft Day of February in the following Year, not 
 lefs than Three thoufand Tons of Shipping, for the Purpofe of carry- 
 ing out to India the private Trade of Individuals, and for bringing 
 back the Returns of the fame, and the private Trade of other Perfons 
 who fhall be lawfully entitled to import the fame into this Kingdom ; 
 and that further Regulations fhall be made for augmenting the faid 
 Quantity of Tonnage, as Circumftances may require. 
 
 XL 
 
 That in Time of Peace the Rate of Freight which the Company fhall 
 be entitled to charge for the Carriage of Goods from Great Britain 
 to India, fliall not exceed . 5 per Ton ; and that the Rate of Freight 
 which they fhall be entitled to charge for the Carriage of Goods from 
 India to Great Britain, fhall not exceed .15 per Ton. And that 
 in Times of War or Preparations for War between Great Britain 
 and any European Power, or under any Circumftances incidental 
 to War, or Preparations for War, whereby an Increafe in the 
 Rates of Freight payable by the Company fhall become unavoid- 
 4- able,
 
 ( 43 ) 
 
 able, then, and in ay of thofe Cafes, the Rates of Freight to be 
 charged and received by the Company for the Carriage of private Trade, 
 fhall and may be encreafed in a due Proportion to the additional Rates 
 of Tonnoge paid by the Company, for the Hire of Ships for their own 
 Trade, and after no higher Rate or Proportion. 
 
 XII. 
 
 That Perfons intending to export any Goods to India, fhall fignify 
 the fame in Writing to the Chief Secretary of the Company, before the 
 Jaft Day of Auguft in each Year, for the Ships of the enfuing Seafon, 
 fpecifying therein the Port or Place of Deftination of fuch Goods, and 
 the Quantity of Tonnage required for the fame, and the Period when 
 the Goods will be ready to be laden or put on Board ; and that every 
 Perfon giving fuch Notice fhall, on or before the Fifteenth Day of Sep- 
 tember next enfuing^ depofit in the Treafury of the faid Company the 
 Money chargeable for the Freight, upon the Quantity of "Tonnage 
 required or fpecifiedin fuch Notice,, unlefs the Court of Directors fhall 
 think fit to accept any Security for the Payment thereof; and that 
 every fuch Perfon fhall alfo, before the Thirtieth Day of Ociober next 
 enfuing fuch Notice, deliver to the faid Secretary a Lift of the Sorts of 
 Goods intended to be exported, and the Quantities of each of fuch. 
 Sorts refpeftively ; and that in Default thereof, or Failure in providing 
 the Goods to be fhipped within the Time fpecified in the Notice for 
 that Purpofe, the Depofit er Security taken for the Freight fhall be 
 forfeited to the Company. 
 
 XIII. 
 
 That Perfons intending to export any Goods from India to Great 
 Britain, fliall fignify the fame by Notice in Writing to the Chief Secre- 
 tary of the Prefidency (or to fuch Perfon as fhall be fpecialiy authorized 
 to receive the fame by the refpective Governments abroad) within a 
 reafonable and convenient Time, to be limited by the faid refpe&ive. 
 Governments for that Purpofe,. in which Notices mall be fpecified the 
 Sorts and Quantities of Goods intended to be fhipped, the Quantity of 
 Tonnage required, and the Period when the Goods will be ready to be 
 put on Board ; and that every Perfon giving fuch Notice fhall make a 
 Depofit of the whole Amount of the Freight upon the Quantity of Ton- 
 nage
 
 44 
 
 nage fpecified in the Notice, or otherwife give fuch reafonable Security 
 for the Payment thereof in Great Britain; and the due Performance of" 
 his Engagements in that Behalf, as the faid refpedtive Governments 
 lhall require ; and if the Perfons giving fuch Notices (hall not provide 
 their Goods to be (hipped within the Time therein fpecified for that 
 Purpofe, their Depofits or Securities (hall be forfeited to the Company. 
 
 XIV. 
 
 That if any vacant Tonnage fliall remain not engaged by Individuals, 
 either in Great Britain or India, after the Times limited for giving fuch 
 Notices refpedively, the fame, together with any other vacant Ton- 
 nage occafioned by the Failure or Default of any Perfons in the Deli- 
 very of their Merchandize, within the Period fpecified in their Notices 
 for that Purpofe, (hall and may be occupied by the Goods of the faid 
 Company-, and that if the whole Quantity of Tonnage required for 
 private Trade in any Year, either in Great Britain or India, fliall ex- 
 ceed the whole Quantity of Tonnage which the Company are bound to 
 provide in fuch Year refpecYively, in that Cafe the whole of the Ton- 
 nage provided lhall be diftributed amongft the Parties requiring the 
 lame, in Proportion to the Quantities fpecified in the re'fpective No- 
 tices. 
 
 XV. 
 
 That all Perfons refiding in India, in the Civil Service of the faid 
 Company, or by their Leave or Licence, not being reftricted by their 
 Covenants with the Company, or otherwife fpecially prohibited by 
 them or their Governments in India, (hall be permitted to aft as Com- 
 mercial Agents, Managers, or Confignees, on the Behalf of fuch Per- 
 fons as lhall think fit to employ them, as well in the Difpofal of their 
 Export Goods, as in providing fuch other Kinds of Goods as may by 
 Law be imported into Great Britain on their private Account without 
 incurring any Penalty in refpeft thereof. 
 
 XVL
 
 )] 
 
 XVI. 
 
 That if, upon any Reprefentation made to the Court of Directors, 
 by or on the Behalf of the private Traders, of the Want of a fufficienc 
 Number of Perfons refident in India, for the Conduct and Manage- 
 ment of the private Trade, duly authorifed and qualified for that Pur- 
 pofe, the faid Court fhall fail to licenfe a farther Number of Free Mer- 
 chants, to the Satisfaction of the faid private Traders, it mail be law- 
 ful for the faid Traders to reprefent the fame to the Board of Commif- 
 fioners for the Affairs of India ; and that the Court of Directors mall be 
 thereupon obliged to licenfe a proper and fufficient Number of Per- 
 fons to refide at their Settlements in India, in the Character of Free 
 Merchants, with the Approbation of the faid Board. 
 
 XVII. 
 
 That the Duty of .5 per Cent, payable to the faid Company, by 
 virtue of an Act of the Ninth and Tenth Years of King William the 
 Third, and the 2 per Cent, now collected by them, on the Value of 
 Goods imported from the Eaft-lndies, or other Places within the 
 Limits of their exclufive Trade, mould be difcontinued, and that a 
 Duty not exceeding .3 per Cent, on the true and reatValue or 
 Sale Amount of all Goods imported from the faid Limits in*o 
 Great Britain, in private Trade, be granted in lieu thereof; and 
 that the fame be accepted or retained by the faid Company out of the 
 Proceeds of fuch Goods, as the Contributory Share or Proportion of 
 the private Traders, for the Expences of the faid Company, in refpect 
 of the faid private Trade, 
 
 ;;-, XVIIL 
 
 That it will be proper to eftablifli fuch Rules and Regulations, as 
 may enfure as fpeedy Sales (after the Clearance of the Ship) of the Arti- 
 cles of Silk, Cotton, Wool and Skins, Indigo, Dying Woods and Drug?, 
 imported in Private Trade, as mall be found confident with the In- 
 terefts of the Owners ; and for fo limiting the Value of the Lots of 
 thofe Articles, as that no one Lot may exceed a realonablc bum to be 
 fixed 5 and for entitling the Owners, who mall buy in their Confign- 
 
 G ments
 
 ( 46 ) 
 
 ments of the above-mentioned Articles, to^n early Delivery thereof, 
 without actual Payment of the Purc.hafe Monies, into the Company's 
 Treafury, beyond the Amount of the Cuftoms, Duties, and Charges 
 of Freight ; and to provide that all other Goods imported in Private 
 Trade fliall be depofited in the Company's Warehoufes, and be in like 
 Manner fold on Account of the Owners, at an early Period, and that 
 the Prices thereof, and alfo of fuch of the faid Articles of Raw Ma- 
 terials as fhall not be bought in by the Owners or Importers, (hall be 
 paid into the Company's Treafury for the Ufe of the faid Owners or 
 Importers ; and that the Private Trade, and the Sales thereof, mall be 
 managed, difpoff d, and* conducted, according to the Bye-Laws of the 
 Company, made and provided for the Management of Private and 
 Privileged Trade, except in fuch R'efpects only, as mail be otherwife 
 fpecially ordered and directed. 
 
 XIX. 
 
 * 
 
 That it is fit and proper that all Reftraints laid by Law on the Ser- 
 vants of the Company and other Subjects of His Majelty, and now in 
 Force, whereby they are impeded or restricted in the Recovery of their 
 juft Debts or other Demands, in foreign Parts or in His Majefty's 
 Dominions, in whatever Mode fuch Debts may have been contracted* 
 or fuch Demands incurred, fhould be removed; and that the twenty- 
 ninth Section of an Act of the Twenty-firft Year of His Majefty's 
 Reign, whereby Britifli Subjects in India were prohibited from lending 
 Money to foreign Companies, or foreign European Merchants, and 
 from purchafing Goods or lending Money for that Purpofe on any of 
 their Accounts, or" furnifhing them with any Bills of Exchange therein 
 defcribed, fhould be repealed, and that all Penalties incurred by any 
 Breach thereof, for which no Profecution hath been already commenced, 
 ihould be difcharged. 
 
 XX. 
 
 That it is proper to declare that the Powers and Authorities of the 
 Company, and their Governments Abroad, over their Officers and 
 
 Servants,
 
 ( 47 ) 
 
 Servants, and other Britifh Subjects refiding under their Protection in 
 India, notwithstanding their being authorized and employed to act as 
 Managers or Agents for Private Traders, fhall remain and continue 
 in the Tame Fprce and Effect, as if they had not been fo authorized or 
 employed. 
 
 XXI. 
 
 That it is expedient to provide that fuch Britifh Subjects, as are by 
 Law reftridted from refiding in any other Place in India than in One 
 of the principal Settlements belonging to the Company, or within Tea 
 Miles of fuch principal Settlement, be alfo reflected from going to, or 
 vifiting any Place beyond the Diftance of Ten Miles from fuch prin- 
 cipal Settlement, without the fpecial Licence of the Company, or of 
 jthe Governor General or Governor of fuch Settlement or Presidency, 
 for that Purpofe, in Writing firft nad and obtained, on Pain of being 
 difmifTed the Service of the Company, and of forfeiting the Licence of 
 the Company to continue in India. 
 
 XXII. 
 
 That the Company fhall be exempted from the Claims of Individuals 
 to Compenfation in refpect to any Embezzlement, Wafie, Lofs, or 
 Damage of their Goods or Merchandize while on Beard of the Com- 
 pany's Ships, or in their Warehoufes at Home or Abroad ; but the 
 Officers and Servants of the Company, and any other Perfons through 
 whofe Means, Default, or Neglect any fuch Lofs or Damage may 
 happen, fhall be anfwerable for the fame at Law to the Owners: And 
 that for the better fecuring to fuch Owners their Remedy in refpect 
 thereof, the Covenants and other Engagements to be entered into in 
 future by the Matters and Commanders, and other Officers and Ser- 
 vants of the faid Company, intruded with the Care and Management 
 of the Ships and Cargoes, fhall be made to extend to the Goods and 
 Merchandize carried in private Trade, 'and Provifion made to enable 
 the Owners to avail themfelves of fuch Covenants and Engagements, 
 in cafe of any Breach thereof. 
 
 G z XXIIJ.
 
 ( 48 ) 
 
 That all the clear Revenues anting from the Britifh Territories in 
 India (hall, during the further Term to be granted in the exclufive 
 Trade, be applied and difpofed of in the following Manner; (that is 
 to fay) Ln the Firft Place in defraying all the Charges and Expences of 
 raifing and maintaining the Forces, as well European as Native, Mi- 
 litary and Marine, on the Eftablifhments in India, and of maintaining 
 the Forts and Garrifons there, and providing Warlike and Naval 
 Stores: Secondly, In Payment of the Intereft accruing on the Debts 
 owing, or which may be hereafter incurred by the Company in India i 
 Thirdly, In defraying the Civil and Commercial Eftablifhments of the 
 faid Company, at their feveral Settlements : Fourthly, That there mall 
 be ilTued to the refpective Commercial Boards of the faid Company,, at 
 their feveral Prefidencies in India, in fuch Proportions as the Court of 
 Directors, with the Approbation of the Commiffioners for the Affairs 
 of India, fliall from Time to Time direct, a Sum of not lefs than One 
 Crore of Current Rupees in every Year, to be applied in the Provifion 
 of the Company's Inveftment of Goods in India and in Remittances to 
 China, for the Provifion of Inveftment of Goods there: And Fifthly, 
 That as often as any Part of the faid Debts (hall be redeemed or dif- 
 charged in India, or transferred from thence to Great Britain, the Court 
 of Directors, with the Confent of the faid Corhmiflioners, fhall be au- 
 thorized to increafe the Annual Advancement to the faid Commercial 
 Boards, for the Provifion of Inveftments Abroad, in the fame Extent 
 to which the Intereft of the Debts in India (hall be reduced by fuch 
 Extinction and Transfers refpectively, if the Trade from India, and 
 Remittances to China, fhall admit of, or require fuch Annual Increafe; 
 or otherwifc, that the Surplus thus accruing fhall be applied to the 
 Liquidation of the Debts in India, or to fuch other Ufes and Purpofes 
 as the Court of Directors, with the Approbation of the CommifTionecs 
 for the Affairs of India, mail direct, 
 
 XXIV. 
 
 That a Proportion of the Debts owing by the Company in India, to 
 the Amount of Fifty Lacs of Rupees, or Five hundred thoufand 
 Pounds per Annum, be remitted Home by Bills, from the feveral Pre- 
 fidencies
 
 ( 49 ) 
 
 fidencies, on the Court of Directors, at equitable Rates of Exchange ; 
 and in cafe the Creditors lhail not fubfcribe to the above Amount an- 
 nually, then that the Governor General in Council of Bengal (hall be 
 authorized to raife Money for that Purpofe, by granting Bills of Ex- 
 change on the Court of Directors, at the like Rates as for other Money 
 paid into the Company's Treafury at Fort William, and apply the 
 Sums fo raifed, or whatever Surplus may remain, after providing for 
 the Company's Investment of Goods, to the Difcharge of fuch Debts, 
 until the Total of the Debts bearing Intereft in India (hall be reduced 
 to a Sum not exceeding Two Crores of Current Rupees, or Two MiU 
 lions of Pounds Sterling. 
 
 XXV. 
 
 That, during the Continuance of the exclufive Trade to the faid 
 Company, the Net Proceeds of their Sales of Goods in England, with 
 their Profits arifing by private or privilege Trade, or in any other 
 Manner, after providing for the current Payments of Intereft, and 
 other Outgoings, Charges, and Expences of the faid Company, lhall 
 be applied and difpofed of in the following Manner' (that is to fay) : 
 Firft, in Payment of a Dividend, after the Rate of Ten Pounds per 
 Cenf. per Annum, on the prefent or any future. Amount of the Capital 
 Stock of the faid Company, fuch Payment to commence at Midfummer 
 1793 ; Secondly, in Payment of Five" hundred thoufand Pounds pir 
 Annum> the fame to be fet apart on the ift Day of March and the ift 
 Day of September, Half-yearly, in equal Portions, and applied in the 
 Difcharge ot Bills of Exchange, to be drawn for the Transfer and 
 Diminution of the Debts of the faid .Company in India, until the fame 
 fhall be reduced to Two Crores of Current Rupees, or Two Millions 
 Sterling : Thirdly, in Payment of a Sum not exceeding Five hundred 
 thoufand Pounds in every Year, into the Receipt of His Majefty's 
 Exchequer, to be applied as Parliament (ball direct; the fame to be 
 fet apart for that Purpofe on the ift Day of July and the ift Day of 
 January in every Year, by equal Portions, and the Firft Half-yearly 
 Payment thereof to be made and accounted due on the ift Day of July 
 1793; and in .the Event of any Deficiency of the faid Funds in any 
 Year, for fatisfying fuch laft-mentioned Payments into His Majefty's 
 Exchequer, that the fame be made good out of any Surplus which may 
 remain from the faid Net Proceeds in any fubftquent Year, after the 
 
 Payment
 
 ( 5 ) 
 
 Payment of the Annual Sum of Five hundred thoufand Pounds into 
 His Majefty's Exchequer in each Year refpedively ; and that when 
 the faid Debts in India fhall have been reduced to the Amount afore- 
 faid, and the Bond Debt in Great Britain (hall have been reduced to 
 One million Five hundred thoufand Pounds, the Surplus of the faid 
 Net Proceeds, after fuch Provifions made as aforefaid, and after Pay- 
 ment of a Dividend after the faid Rate of Ten Pounds per Cent, per 
 Annum on the <faid Capital Stock, and the faid Annual Sum of Five 
 hundred thoufand Pounds into the Exchequer, and after making good 
 all former Deficiencies in the faid Annual Payments (if.any fuch (hall 
 happen) fhall be applied and difpoftd of in Manner following, that is 
 to fay : One Sixth Part of the faid Surplus (hall be referved and retained 
 by the faid Company for their own Ufe, and applied in Augmentation 
 or the Dividends on their faid Capital Stock, and the Refidue of the 
 faid Surplus fhall be fet apart, and from Time to Time paid into the 
 Receipt of His Majefty's Exchequer, to be applied as Parliament (hall 
 direct, without any Intereft to be paid to the Company in refpect or 
 for the Ufe thereof -, but nevertheleis to be confidered and declared as 
 a collateral Security to the faid Company for the faid Capital Stock, 
 and for the Dividend of Ten per Cent, per Annum* in refped: thereof 
 not exceeding the Sum of Twelve Millions of Pounds Sterling; and 
 that the Excels of fuch Payments (if any; beyond that Amount, fhall 
 be deemed and declared the Property of the Public, and at the Difpofal 
 of Parliament. 
 
 XXVI. 
 
 That if the Company's Debts, in India, after the fame fhall have 
 been reduced to Two Crores of Current Rupees, or Two Millions of 
 Pounds Sterling, fhall be again increafed beyond that Amount, or if 
 their Bond Debt in Great Britain, after the fame fhall have been re- 
 duced to One million Five hundred thoufand Pounds, fhall be again 
 increafed beyond that Sum, then and fo often as either of thofe Cafes 
 fhall happen, there (hall be referved and fet apart, out of the faid Net 
 Proceeds, next after Payment of the faid Dividend of Ten Pounds per 
 Cent, on the faid Capital Stock, but in preference to f any other Appli- 
 cation thereof, the Sum of Five hundred thoufand Pounds per Annum, 
 to be appropriated to the Reduction of fuch new Debts relpectively, 
 
 6 until
 
 ?.*' ) 
 
 "until the Debts in India mall be again reduced to Two Crores of Cur- 
 rent Rupees, and the faid Bond Debt in Great Britain to One million 
 Five hundred thoufand Pounds. 
 
 XXVII. 
 
 That to fecure to the Company at all Times the Means of carrying 
 on their Trade with Credit and Advantage, it is expedient to make 
 Provifion for fo arranging the Payment into the Exchequer, of the 
 aforefaid Proportion of any Annual Balance, or Surplus of the faid 
 Net Proceeds becoming due and payable there, as to authorize the 
 Company to retain a Sum not exceeding Two hundred thoufand 
 Pounds, for their Current Calh, for fo long Time, after the End of 
 each Year, as may be reafonably deemed fufficient for their receiving 
 new Monies, in the Courfe of their Trade, to replace the Sums fo re- 
 tained ; and for the like Purpofe, that a Power fhould be vefted in the 
 High Treafurer, or Commiffioners of the Treafury, upon the Requifi- 
 tion of the Company, to poftpone any of the faid Half-yearly Pay- 
 ments into the Exchequer for a reafonable Time, to be limited in 
 that Behalf, on its being fatisfaclorily (hewn to him or them that the 
 Affairs of the Company require fuch Postponement. 
 
 XXVIII. 
 
 That during the further Term in the exclufive Trade, the Company 
 mall be reftricted from making any other Diftribution of the Sum of 
 Money and Stock now (landing upon their Books, under the Title 
 of " The Company's Separate Fund" (the faid' Sum now amounting,, 
 with Intereft thereon, computed to the id Day of March 1793, to 
 Four hundred and Sixty-feven thoufand Eight hundred and Ninety- 
 fix Pounds Seven Shillings and Four Pence ; and the faid Stock, being. 
 Eaft-India Stock, to the Sum of Nine thoufand Seven Hundred and 
 Fifty Pounds) or any future Intereft or Dividends arifing thereby,. 
 otherwife than as hereafter is mentioned (that is to fay) : That after 
 Payment into His Majefty's Exchequer of the Two Firft Inftalments 
 of T\vo hundred and Fifty thoufand Pounds each, which will accrue 
 due to the Public on the ift Day of July 1793 and the iftD^y of Ja^ 
 
 auary
 
 nuary 1794, or otherwife, after felting apart a fufficient Sum for fuch 
 Payment, it {hall be lawful for the faid Company, out of the faid 
 feparate Fund, and the growing Income thereof, to make and declare 
 a Dividend or Dividends, after the Rate of Ten Shillings per Cent, 
 per Annum, on the prefent or any future Amount of their Capital 
 Stock, which faid Dividend or Dividends mall be paid and payable 
 to the faid Company, over and above any other Dividend or Divi- 
 dends which mall become due in refpect of the faid Capital Stock. 
 
 XXIX. 
 
 That it is proper to make Provifion for fo limiting the granting of 
 Penfions, or increafing the Salaries of Officers, or creating any new 
 Eftablifliments at Home, as may effectually protect the Company's 
 Funds in Great Britain from any unneceflary Charges. 
 
 XXX. 
 
 That the Court of Directors of the faid Company fhall, within the 
 firft Fourteen Sitting Days next after the Thirtieth Day of March in 
 every Year, lay before both Houfes of Parliament an Account, made 
 up according to the latcft Advices, of the Annual Produce of the 
 Revenues of the Britifh Territories in India, diftinguifhing the fame 
 under the refpective Heads thereof, at their Teveral Prefidencies or 
 Settlements ; with the Amount of their Sales of Goods and Stores 
 within the Limits of their exclufive Trade, and of all their Annual 
 Difburfemems within the faid Limits, diftinguifhing the fame under 
 the refpective Heads thereof; and the Amount of their Debts Abroad, 
 with the -Rates of Intereft they refpectively carry, and the Annual 
 Amount of fuch intereft ; and the State of their Effects at each Prefi- 
 dency or Settlement, and in China, confifting of Cam and Bills in the 
 Treafuties, Goods and Stores, and Debts owing to the Company, ac- 
 cording to the lateft Advices ; together with a Lift of their feveral 
 Eftabliihments Abroad, and the Salaries and Allowances payable by 
 the faid Company at each Prefidency or Settlement, and in China : 
 And alfo another Annual Account, made up to the Firft Day of March 
 next preceding the Delivery thereof to Parliament, containing the 
 Amount of the Proceeds of the Company's Sales at Home, and of 
 their Commercial and other Charges and Payments in Great Britain, 
 3 under
 
 ( 53 ) 
 
 tinder the feveral Heads thereof ; and of their Bond Debts and Simple 
 Contract Debts, with the Rates of Intereft they refpe<5Hvely carry, and 
 the Annual Amount of uch Intereft ; and the State of Cam remaining 
 in the Treafury, and other Effects appertaining to the Company, at 
 Home or afloat. 
 
 XXXI. 
 
 That in the prefent Circumftances of the Eaft-India Company they 
 fhould be enabled to raife a Sum of Money, by adding One Million 
 Pounds Capital Stock to their prefent Capital of Five Million Pounds, 
 fo as to make their whole Capital Stock in future Six Millions ; and 
 that fuch Addition be made by opening a Subfcription to the Amount 
 of the faid One Million Pounds Capital Stock, at a Race to be fixed 
 for every One hundred Pounds of fuch Capital Stock, or at fuch Rate 
 as the Court of Directors of the faid Company, with the Approbation 
 of the Commiffioners of the Trefaury, mall diiect ; and that the Sub- 
 fcribers to the fame be declared entitled to the like Profits, Benefits, 
 and Privileges, in refpedt thereof, as the Proprietors of Eaft-India 
 Stock are or may be entitled to in refpect of their prefent Stock. 
 
 XXXII. 
 
 That the faid Company fliall apply a- fufficient Part of the Sum to 
 be raifed by the faid Subfcription, in the Reduction of their Bond 
 Debt in G;eat Britain to the Sum of One Million Five hundred thou- 
 fand Pounds, and the Refidue thereof in Difcharge of fuch other Debts 
 as the Company ftiall think fit. 
 
 XXXIII. 
 
 That after the Bond Debt of the Company in Great Britain (hall 
 have been reduced to the Sum of One Million Five hundred thoufand 
 Pounds, tne fame mail not be again increafed beyond that Amount, 
 except with the Approbation of the Board of Commiffioners for the 
 Affairs of Incia, fignified in Writing under the Hands of Three or 
 more of the faid Commiffioners 5 and that any fuch Increafe of Bond 
 Debt lhall in no wife be made to exceed the Sum of Three hundred 
 thoufand Pounds in any One Year. 
 
 H XXXI V*
 
 ( 54 ) 
 
 The following additional Refolutions were moved, in 
 the Committee, by Mr. Dundas, Mays, 1793. 
 
 XXXIV. 
 
 That it is the Opinion, of this Committee, that it will be for the 
 mutual Convenience and Advantage of the Public, the Eafl-India 
 Company, and the Holders of certain Annuities, to the Amount of 
 .2,992,440. 55. Capital, carrying an Intereft after the Rate of 3 per 
 Cent, per Annum, amounting to .89, 773. 155. ^being Part of the 
 Sum of ..4,200,000 due and o^ing by the Public to the faid Com- 
 pany) and which were fold by the faid Company, by virtue of an A6t 
 of Parliament of the 23d Year of King George II. that the faid An- 
 nuities, and likewife certain other Annuities to the Amount of 
 .1,207,559. i$s. Capital, bearing an Intereft, after the like Rate of 
 3 per Cent, per Annum, amounting to .36,226. 165, (being the Re- 
 mainder of the Sum of .4,200,000, due by the Public to the faid 
 Company) and which, by virtue of different Ads of Parliament, the 
 Company have been empowered to fell or mortgage, be placed, with the 
 Confent of the faid Company and Annuitants, under the Management of 
 the Governor and Company of the Bank of England, and be engrafted 
 upon, and confolidated with the Stock called 3 per Cent, reduced An- 
 nuities, payable at the Bank ; and fuch Engraftment and Confolida- 
 tion, deemed and taken to be a Redemption of the faid feveral Loans, 
 as between the Public and the faid Eaft-India Company, and that in- 
 ftead of the Annual Sum of .126,000, in refpecl: of the Annuities 
 aforefaid, with an Allowance for Charges of Management, being iffued 
 at the Exchequer to the faid Company, the faid Annual Sum be in 
 future ifiued at the Exchequer to the Governor and Company of the 
 Bank of England, for the Ufe of the faid Eaft-India Company, and 
 the faid Annuitants, according to their refpective Shares, and that the 
 Allowances made to the faid Company, in pnrfuance of an A.& of 24th 
 of King George II. for the Charges and Expences attending the 
 receiving, paying, transferring, and tranfafling the Affairs of the 
 faid Annuitants, amounting to .1,687 per Annum, be made to ceafe 
 and determine. 
 
 XXXV,
 
 ( 55 ) 
 
 XXXV. 
 
 That it is the Opinion of this Committee, that the Power of the 
 Eaft-India Company, to fell or mortgage their Share of the faid An- 
 nuities, be preferved to them ; and that after the faid Engraftment or 
 Consolidation, the Shares of the feveral Annuitants, and of the faid 
 Company, fhall befubjeft to the like Trufts and Incumbrances, as would 
 have obtained, if no fuch Engraftment or Change of Management had 
 taken place; and that the faid Annuities be made fubject to redemp- 
 tion by the Public. 
 
 XXXVI. 
 
 That it is the Opinion of this Committee, that if under the prefent 
 Embafiy to the Court of Pckin, any Ceflion of Territory mall be ob- 
 tained, diftindl and feparate from the Continent of China, and wholly 
 free from any Jurifdiclion or Authority of the Chinefe Government ; in 
 that cafe, and fo long as the fame mail fo remain, Individuals fhall be 
 permitted, under fuch Regulations and Reflrictions as fhall be approved 
 by the Board of Commifiioners for the Affairs of [ndia, to export Bri- 
 tifh and Irifh Merchandize in the Company's Ships, at a moderate 
 Rate of Freight, the fame being configned to the Company's Supra- 
 cargoes, or fuch other Perfons as the Company, with the Approbation 
 of the faid Board of Commiffioners, lhall licenfe to refide for that Pur- 
 pofe only , and that fuch Perfons fhall be retrained from any Connexion 
 or Intercourfe with the Continent of China, from any other Trade or 
 Concern whatever, fave and except the Sale of Britifti and Irifh Ma- 
 nufactures beforementioned, and from any Interference with the Affairs 
 of the Company , and be fubje& to the ufual Covenants entered into 
 by the Servants of the Company, they paying the Produce into the 
 Company's Treafury for Bills at the'a&ual Rate of Exchange at the 
 Time; but that no Perfon whatever be permitted to refide in any 
 Place or Places fo ceded, or to trade or communicate with any Port or 
 Place in China, who is not a Servant of the Company.
 
 By Permijjion of the Right Honourable Henry Dundas. 
 
 Juft publifhed, and fold by J. DEBRETT, Piccadilly; and 
 J. SEWELL, Cornhill, Price i. is. in Boards. 
 
 HISTORICAL VIEW OF PLANS 
 
 For the Government of BRITISH INDIA and Regulation of 
 Trade to the EAST-INDIES : 
 
 AND 
 
 OUTLINES of a PLAN of Foreign Government, of Com- 
 mercial Economy, and of Domeftic Adminiftration for the 
 ASIATIC INTERESTS of GREAT BRITAIN. 
 
 This Work is explanatory of the Syftem for Indian Affairs which has 
 been fubmitted to -the Legiflature. The Authorities have been obtained 
 either from the Records of the Company and from the Archives of the 
 State, or from the Communications of thofe, whofe official and local 
 Knowledge qualified them to aid their Country upon this important 
 Occalion.

 
 UNIVERSITY OF CALIFORNIA LIBRARY 
 
 Los Angeles 
 This book is DUE on the last date stamped below. 
 
 Form L9-32m-8,'58(5876s4)444 
 
 UNIVERSITY OF CALIFORNIA 
 
 AT
 
 A2F2 Substance of the 
 1,_ 
 
 in the East 
 
 Indies. 
 
 DS 
 
 A2P2 
 1793