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Deducting increase of debts above, from increase of assets, 1 the state of affairs at home appeared better in 1796, by S

82,581 Upon a general comparison of debts and assets, Mr. Dundas concluded, that the company's affairs were better, as to 1,240,490 debts and assets, than last year, by

Mr. Dundas next alluded to to be in a state of progressive im. the plan which he had laid before provement. He stated, however, parliament last year for redressing that the expenses to be accounted the grievances complained of by for in the next budget 'would be the officers in the company's ser- greater on account of the armavice.

ments that had been fitted out These meretorious men had la- against the island of Ceylon, the boured under many hardships; they spice islands, and the other posseshad not the same chance with his sions which had been captured from majesty's officers, of being put upon the Dutch. He then presented a the staff. They could not return to series of resolutions pursuant to his their own country for the benefit of statements. their health without giving up their Mr. Hussey contended, that the commissions and losing their pay. revenue of India, after the necessary They had not often the means to deductions, fell short of the appro. enable them to return, nor any balf priation of a million, nor could he pay if they should quit the service. look upon the revenues of the comThese were the grievances they pany as increasing, because the es. complained of, and he certainly timates of the present year were less thought that their complaints were than the former. He insisted that just. These complaints had been the company was now insolvent, as completely remedied, and the regu- it would turn out; that were all its lations to that effect had been sent effects turned into money, it would to India, where they were highly not have enough to pay all deapproved of by the great bulk of mands; the former he calculated at the officers. The enforcing of these - 6,734,0001. and the latter would regulations would be attended with amount to 7,780,000l. The resoan expense of about four millions. lutions were agreed to. He represented the affairs in India Mr. secretary Dundas, on the

14th of July, brought forward a He entered into an examination of second India budget; the accounts the house accounts, and, lastly, he then submitted to the committee shewed the flourishing state of the had been made out to the latest pe- company's finances, by giving a riod, and so far as related to the comparative view of the accounts explanation of their statements, he presented this year with the estimate followed the same plan which he on which the arrangement of 1793 had done in the former accounts. was formed,


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Assets IN INDIA. The assets in India, consisting of cash, goods, &c. last year, amounted to

8,807,266 By the present statements

8,958,669 Increase of assets in India



Upon a comparison of accounts presented this year, with the estimates on which the arrangements of 1793 were formed, the estimated surplus of 1796-7, was 1,584,0081, which exceeded the estimate of 1793 by 70,4311.

The total of the estimate of receipts and sales of 1793, was 5,185,987
The total of the actual ditto in 1796-7, was - - - 7,316,916

He made the net excess of payments over the actual

ayments over the actual { 1,882,964 receipts for 1796-7, amount to - - - - .. .)

He next begged the committee In 1786, the debts of the comto observe, that though there ap- pany amounted to four millions peared to be a decrease in the state beyond the assets ; since that time of the company's affairs, they were, they had indeed increased their canotwithstanding, as favourable and pital 3,740,0001. but against that as flourishing as the most sanguine was to be placed the sum of person could wish. Some causes 3,330,0001. as the expenses of carof a diminution of revenue he had rying on the war with l'ippoo, and pointed out last year, one of which in the capture of the French and was a diminution in the sale of va- Dutch settlements in the East Indies. rious articles, particularly that of In 1790, it would be found that the opium, during war; and the other, affairs of the company had been was the increased amount of charges, made better by the sum of eleven on account of increased military ar- millions than they were in 1786. rangements in the various settle- It appeared from the statements ments abroad. He wished the pre- that the company's assets abroad sent state of the company's affairs exceeded the debts to the amount might be compared with their for- of 660,0001. and that if their mer condition, when their solvency whole affairs were wound up, they was a matter of public disputation. would receive an annual interest of In 1983, on account of the height 950,0001. He concluded with movto which party had run, every thing ing a series of resolutions pursuant relating to their affairs was delu- to his statements, which were agreed sive,

to. .

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Review of the Negotiation at Paris in 1790.-His Majesty's Declaration or

that Subject.- Debates in Parliament on the Negotiation.--In the House of Lurds. In the House of Commons.Endeavours of the Opposition Party to remove the Obstacles to Peace.--Motion to that Effect in the House of Lords. Further Discussion on the Subject of Peace in the sume House.-Motion for Peace in the House of Commons.

IN our preceding volume, in re- government respecting peace; the 1 lating the political transactions in answer which he received was at France, a short account was intro- once haughty and evasive; it affectduced of the negotiation for peace, ed to question the sincerity of which which was attempted at Paris, in the his majesty's conduct had afforded so latter end of the year 1796. The unequivocal a proof; it objected to subject was brought before the Bri-, the mode of negotiation proposed, tish parliament, soon after the return (that of a general congress, by of Lord Malmesbury, and under which peace had so often been rewent a spirited and interesting dis- stored to Europe); but it studiously cussion in both houses. The since- passed over in silence his majesty's rity of ministers was questioned by desire to know what other mode some of the speakers on the side would be preferred by France; it of opposition, and the extravagant asserted a principle, as an indispenterms (as they were deemed by that sable preliminary to all negotiation, side of the house) proposed to the under which the terms of peace French were vehemently censured; must bave been regulated; not by while, on the other hand, the mi- the usual considerations of justice, nisters defended themselves, by ap- but by an implicit submission on the pealing to the abrupt and violent part of all other powers, to a claim conduct of the French in hastily dis- founded on the internal laws and missing the ambassador, as a proof of separate constitution of France, as their indisposition to peace, which having full authority to supersede they confirmed by a general review the treaties entered into by indepenof the late politics of France. dont states, to govern their interests,

His majesty's declaration on this controul their engagements, and dissubject was laid before the house of pose of their dominions. lords, on the 27th of Dec. by lord “ A pretension so extravagant Grenville, wherein he acquainted could in no instance be admitted ; in them, “ That the negotiation, which the present, it led to nothing less an anxious desire of peace had in-. than that France should, as a preliduced him to open at Paris, had been miuary to all discussion, retain nearly abruptly terminated by the French all her conquests, and particularly government..

those in which his majesty was most " That his majesty had directed concerned ; that she should recover an overture to be made in his name, back all that had been conquered by his minister in Switzerland, to as- from her; and that she should bring certain the dispositions of the French forward such farther demands, as

such such unqualified submission, on the ment, memorials were presented by part of those with whom she treat- his majesty's minister, containing ed, could not fail to produce. On the outlines of peace; the delivery such ground no negotiation could be of these papers was accompanied by established; neither did the answers a declaration, expressly and repeatof the French give any opening for edly made, both verbally and in writcontinuing the discussion, since the ing, that his minister was willing to mode offered by his majesty had been enter into the discussion of the points rejected, and no other had been therein contained, or that of any stated, in which they were willing other scheme of peace which the goto concur.

vernment might wish to substitute “ Not discouraged by this result, in its stead. and in order to deprive his enemies ." In reply, he received a demand, of all subterfuge or evasion, his ma- in form the most offensive, and in jesty renewed, in another form, and' substance the most extravagant, that through the intervention of a friend- ever was made in the course of any ly power, a proposal for opening ne- negotiation. It was peremptorily gotiations for peace : the repeated required of him, that he should, in overtures were of such a nature, twenty-four hours, deliver in a statethat the French government found mert of the final terms to which it impossible to reject them, with his court would in any case accede. out avowing to all Europe an abso. Having declined compliance with lute determination to refuse all hope this demand, and explained the of the restoration of tranquillity. A reasons which rendered it inadchannel was therefore at length in- missible, but at the same time exdicated, through which the govern, pressed his readiness to discuss the ment of France professed itself will. proposal he had conveyed, he reing to negotiate, and a readiness was ceived no other answer, but an abexpressed to receive a minister au- rupt command to quit Paris within thorized by his majesty to proceed forty-eight hours. to Paris for that purpose. The re- " It was therefore necessary that peated endeavours of the French go- all Europe should understand, that vernment to defeat this mission in the rupture of the negotiation did its outset, and to break off the n- not arise from the failure of any sintercourse thus opened; but above cere attempt on the part of France ; all, the abrupt termination of the but, from the determination of that negotiation, afforded the most con- government to reject all means of clusive proof, that at no period of peace, by the obstinate adherence to it was any real wish for peace en- a claim which never could be adtertained by the French government. mitted ; a claim which that govern

" It had been agreed, that com-' ment rested on the constitution of its pensation should be made to France own country, to be received by allby proportionable restitutions from nations as paramount to every princibis majesty's conquests on that ple and law in Europe, as superior to power, for those arrangements to the obligations of treaties, the ties of which she should be called upon to common interest, and the most urgent consent, to satisfy his allies, and to considerations of general security. preserve the balance of Europe : at “ On these motives it was, that the desire of the French govern the further effusion of blood, the con

E2 tinued

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