goods RESULT. 5,905,927 After calculating on a payment to DEBTS AT HOME. In March 1797 · Decrease The total then is 413,220 I shall now request the attention of the committee to a few short observations, relating to the general situation of the affairs of the company. It has always been my endeavour, that the subject of Indian finance should be rendered as clear and intelligible as possible. By the mode now in practice, a comparison of different periods can easily be effected; and whether changes occur for the better, or otherwise, the causes may be traced with great facility. It afforded me real satisfaction, when I last addressed the committee, to be thereby enabled to state, upon authentic documents, the improvement of this 132,069 valuable concern, on a comparison be 7,918,559 tween the year 1786 and the period then under examination. By the present statements it has appeared, that an alteration has taken place on the unfavourable side. The balance of property, contrasted with the last year, has, from a variety of circumstances, turned out to be less in favour of the company; but as the causes have been clearly discovered and pointed out, and as they appear to have been effected, in the most part, by means of a temporary nature, some of them arising from the pressure of contingencies unavoidably produced by a protracted war, I trust it will become a matter of surprise, that under such events, the general state of the affairs has not suffered a more considerable reverse. It is, however, still satisfactory to reflect, that in India, the only inconvenience produced by the war has been upon the treasuries, in a certain degree; but this effect, it may be presumed, will not be permanent. The successful termination of the several important expeditions, by which the enemies of this country have been deprived of their settlements in the East, has afforded additional security to the possessions of the company, and has likewise opened new sources of wealth, from which there is every reason to hope a full compensation will eventually be derived, for the pecuniary sacrifices that have been made. able, by near a million; the general ba lance, on the comparison with last year, is only 413,000l. worse. Against this statement it may be objected, that credit is taken, in the calculations, for articles in India, which cannot justly be reckoned upon as an improvement of property; but, on the other hand, it is fair to state, when making a comparison, that the debts have increased more than a million, from a circumstance which by no means applies to the concerns of the year, viz. the issue of bonds for payment of arrears to the pri vate creditors of the nabob of Arcot. The improvement at home would have still been more considerable, if disappointment had not occurred as to the arrival of the goods: the property in India, it is true, would have been lessened, but not in proportion. The short amount of the sales has been stated to arise from this circumstance alone; and it is satisfactory to find, that so far as the commerce is concerned, there is every appearance of prosperity. The immense sale of private trade goods, affords a display of the rising commercial prosperity and increasing wealth of the settlements abroad, and proves the advantage derived, and to be derived, from the extension of privilege to private traders, by the act of 1793. The increasing demand for almost every species of Indian produce, whether raw The immediate effect of these measures or manufactured, strengthens the probahas been, to absorb the major part of the bility, that in this point of view, the prosfunds, which would have been derived pects formerly held out will ultimately be from the Indian revenue towards the pro completely realized. But as it may, with vision of the investment. The immensely apparent truth, be asserted, that the imincreased demand, on this account, has provement of the concern at home has enhanced the value of money, so as to been accomplished at the expense of that occasion the necessity of having recourse abroad, and in a manner which may bring to loans, at higher interests than formerly in question the prudence or the propriety in practice: the rate of exchange has also of extending the trade; because the purincreased in proportion. The additional chase of investments has been made princall upon the treasuries for interest will, cipally by money raised on loans, at a for a time, operate unfavourably, and the high rate of interest, from which the debts prime cost of goods must incur some in- in India have increased beyond all reasoncrease. The result of all these events, able bounds, and of course the demands however temporarily distressing, is not to for interest, so as to intrench, in an be mentioned, in a comparison with the alarming degree, upon the resources which more substantial and permanent benefits the revenues should supply towards the which may ultimately be expected, both provision of investment, it is expedient to abroad and at home. At home an increase observe, that it was certainly the duty of of assets, and a decrease of debts, has the company to embrace the favourable clearly been demonstrated, and the nett opportunity of adding to their trade, improvement ascertained to be 1,366,3221. which offered by the removal, for the most Although the Indian concern has been so part, of foreign competition. My opinion, considerably affected by the circumstances to that effect, was formerly given; and I above pointed out, and although the ba- have now to add, that if they had not lance of stock at China is more unfavour-done it, disastrous effects might have been 575] 39 GEORGE IÍÍ. would have been cramped, the cultivation produced: the industry of the natives-The productiveness of the resources arising from the lands have continued, from year to year, at an amount which admits the hope of permanency. In Bengal, the present system is so well understood, and is so acceptable to the zemindars and renters, that no opposition is ever offered to the authority of government; neither does any other interruption occur to the collection of the public demands, than what must always be expected on a rental so extensive. Under the present regulations, provision is made for the realization of balances, and security is found in the improved value of the lands. for away The idea of the precarious tenure of the resource from salt has been done some years. Under the present system of management, which took place in 1793, the improvement has been substantial; because the objections which might, with a great degree of reason, be raised to the principles on which the monopoly was upheld, can no longer be said to exist. The labour of the Molungees, or saltmakers, is not now compulsory: distinctions in the several classes are abolished; and each receives a just and equal reward of industry. The laws against illicit trade having been effectually put in force, the purchaser at the sales reaps the expected sufprofit from his dealing; and although the price has, within the two last years, fered an augmentation, the consumer is not exposed to the inconvenience formerly known, because, from the increasing wealth of the provinces, more profitable means of employ are daily found. Every advice from India states the rising price of opium. The internal situation of all the districts under the immediate government of the company, continues to exhibit the appearance of increasing prosperity. Having been protected by the successful operations of our fleets and armies, from becoming the theatre of war, no interruption has offered itself to the exertions of the industrious inhabitants. The encouragement afforded in all instances where a prospect of general advantage existed, has been productive of the happiest consequences. By accounts received from Bengal it is found, that articles, scarcely known a few years ago as an export, have been manufactured and shipped, to an immense amount; and that the export trade of those provinces by sea has been increased, in a quintuple degree, within the last twenty years, and has been doubled in the last ten it must therefore appear, that the events of an unfavourable nature, which have been explained to the committee, are not of a description to affect the prosperity or the wealth of the sub. jects under the British dominion in India. The contract under which this article was furnished, expired in September 1797, and the system of agency has been substituted. No judgment can be formed, till the expiration of 1798-9, of the effect of the change; but as measures are taken to remove a very material cause of the first declension of the trade, the debased quality of the drug, and as the markets are again opening, it may be expected that the profit will soon equal its former amount. I have had great pleasure in remarking the attention of the company's government to the happiness and comfort of the natives, and the endeavours always manifested to remove every species of oppression. They have appeared, in a particular degree, in the abolition of the police assessment. This was a tax levied on the houses of the inhabitants in the districts, for the express and in 1797 it was found requisite to enforce the treaty of 1792, and to take possession of the three districts assigned as security for the company's demand. purpose of maintaining an efficient police. The charges have, from the first institution, greatly exceeded the receipts; but notwithstanding the gradual increase of the latter, as the mode in which, of ne- I have only to add, that the expenses cessity, the collections were raised was in India have been, and for a time must represented to be oppressive, the tax has continue to be, very burthensome; but been altogether abolished, and a stamp with the exception of the new military duty substituted, for defraying the expense arrangements, and some others of a judi. of this establishment.-In the districts cial nature, a large amount may be consiunder the presidencies of Madras and dered temporary. Economy is enjoined Bombay, although it has not yet been in every department; but in the present practicable to carry into full effect the be- situation of affairs, it would be completely neficial regulations established in Bengal; unwise to relax in attention to every mearesistance against the company's authority sure, requisite to a state of readiness to is less frequent, and the improvement of meet the attempts of the enemy on any the land revenues becomes each year more part of the dominions. From what has apparent. The disturbance in a northern been stated, the inference is perfectly just, district of the Malabar province, noticed that the wealth of the Indian provinces in my last address to the committee, has has been progressively improving, and that been quelled, and the refractory rajah the affairs of the East India company reduced to terms of submission: measures have derived every advantage that could have also been taken to prevent a similar be expected from this improvement, on occurrence in future. The changes at contrasting the amount of the balance of Oude will come more properly under property at this time with what it was ten remark, when the accounts of the next years back. There can be no difference year shall be brought forward. The of opinion, as to the propriety of the comprinces to whom I particularly allude at pany's availing themselves, to the utmost this time are, the nabob of Arcot and the extent of their means, of the commerce, rajah of Tanjore. Their territories are the monopoly of which they hold by their so contiguous to those of the company, exclusive privilege; but it is to be reand the terms on which the connexion collected, that the imperial interests of with them exists are of such a nature, the country must likewise come under the that although, under the treaties, the presi- consideration of those, to whom the condency of Madras have no authority to trol over this great concern is committed: interfere in their governments while their for if a statement, which has been made engagements are discharged, yet they to me, be correct, that the export of the cannot but be essentially interested in the wealth of India to Europe amounts to no prosperity of their countries. For many less a sum than five millions sterling annureasons, a modification of those treaties ally, of which it appears that the company was desirable, both as it concerned the are not able to bring to this country much company, and the interests of the princes more than two millions, while the rest finds themselves. Representations and remon- its way to the several ports of Europe in strances to that effect have been made to other vessels than those which should form the nabob of Arcot. As to the rajah of a part of the strength of the empire; Tanjore, the committee are already ap. there is nothing deserves more the atprized of the summary measures resorted tention and ardent exertions of his mato with him. In 1796, he was prevailed jesty's ministers, than to devise some mode upon to agree to terms of an arrange- to remedy an evil of so great magnitude. ment, from which there was every reason The interests of our commerce, our navito expect the most beneficial conse- gation, and our power call for it; and if quences, both to his country and to the the plan at present in contemplation, with company; but from some particular cir- regard to the regulation of the duties, cumstances, this arrangement was set should not be sufficient, something farther aside. The long train of evils arising from must be brought forward, before the the grossest extravagance and mismanage- close of the present session. The prement, which had occasioned the necessity eminence established by this country in of this interference, soon produced the India is truly gratifying; and it is the effect naturally to be expected; the stipu-duty, both of the government and of the lated engagements were not discharged; company, so to frame their regulations, [VOL. XXXIV.] 2 P 579] 39 GEORGE IH. Report from the Commons' Committee of Secrecy [580 that no part of the advantages to be de- rived from it be lost. nient, and every existing establishment, civil The most effectual engine employed for this purpose, has been the institution of political societies, of a nature and description before unknown in any country, and inconsistent with public tranquillity, and with the existence of regular government. The effects of this fatal cause, operating in its fullest extent, have been unhappily felt and exemplified in the distractions and calamities of Ireland. The same cause is known to have prepared the way for all the different revolutions by which France has succeeded in subverting so many of the governments of Europe, and reducing so many independent states to vassallage and subjection. In this country, similar measures have been attempted; and although they have been Report from the Committee of Secrecy of hitherto defeated, by the precautions of the the House of Commons relative to the legislature, by the vigilance of his majesty's So-government, and still more by the general Proceedings of different Persons and So- good sense and loyalty of the nation, the obcieties in Great Britain and Ireland en-ject is not abandoned. The utmost diligence gaged in a Treasonable Conspiracy.] is still employed in endeavouring, not only to March 15. Mr. Secretary Dundas made sustain and revive those societies whose sedithe following Report from the Committee tious and treasonable purposes long since attracted the notice of parliament, but to exof Secrecy. tend their correspondence to every part of this kingdom, to Ireland, to France, and to those places on the continent, where French The said Resolutions were after a short conversation agreed to. REPORT. The COMMITTEE of SECRECY, to whom the several Papers, which were presented (sealed up) to the House, by Mr. Secretary Dundas, upon the 23rd of January 1799, by his Majesty's command, were referred; and who were directed to examine the matters thereof, and report the same, as they shall appear to them, to the House; and to institute emissaries are established; new societies, formed precisely on the same plan, and directed by the same object, as those whose influence in Ireland has produced such pernicious and formidable effects; and of which, the consequences might have proved fatal to that kingdom, if they had not been averted, in a season of the greatest difficulty, by the wisdom, firmness, and exertion of his majesty's government, and the parliament of Ireland. The extent and uniformity of this systematic conspiracy, are equally striking. The formation and structure of all these societies, in this country, in Ireland, and on the continent, are similar; their views and principles are the same, as well as the means which they employ to extend their influence. A continued intercourse and concert has been maintained from In the whole course of their inquiry, your their first origin to the present moment; Committee have found the clearest proofs of sometimes between the societies themselves, a systematic design, long since adopted and sometimes between their leading members; acted upon by France, in conjunction with and a frequent communication has been kept domestic traitors, and pursued up to the pre-up with the government of France, to which sent moment with unabated perseverance, to overturn the laws, constitution, and govern Have proceeded, in obedience to the orders of the House, to the consideration of the matters referred to them. They have been prevented from sooner laying before the House the result of their examination, not only from the extent of the matters which came before them; but because some of the recent circumstances which they have to state, could not, with propriety, have been disclosed at an earlier period. they appear to look as their protector and ally, and which has repeatedly furnished an |