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And the amount which would be applicable to the pur . chase of investments, payment of commercial charges, 2,084,767 would then be

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The sum of 3,084,6761. remained applicable then to the purposes which he had stated, and accordingly it was his duty then to add the dirposition of that sum, the accounts of which he understood had been made out with the utmost accuracy, and which he believed appeared thus;. Disposition of the surplus from the territorial revenues.

£ No. 18, At Bengal, investments, including charges, &c. 1,108,449 No. 19, Madras, ditto

536,808 No. 20, Bombay, ditto

166,636 No. 22, Bencoolen, ditto

26,552

:} 2:6,322

1,838,445 This total was short of the amount applicable to the purchase of investments in the sum of

The committee, he observed, would perceive that the sum of 1,838,4451. was payable partly from the produce of the territorial revenues, and partly from the proceeds of the estimates, but that there still remained a sum of 246,3221. - applicable to any other purpose. This fum he understood had been applied to the purchase of rice, and to the profit and loss account upon interiral trade. He said that the committee had not yet a full account of the investments, for it was perfectly obvious that part had been taken from the assets, which were comprehended in a paper (No. 22) under the title of cargoes invoiced to Europe in 1794-5, to the amount of 2,178,1181. He had now ftated what the amount of the receipts and disbursements of the presidencies were in

he next proceeded to state them in a general view. General view of the result of the estimates for 1795-6 colle&ively. Net revenue of the three presidencies for the year 1795-6 1,852,573

Amount estimated to be applicable to the purchase of in. vestments, &c. Which was less than the actual amount of last year by 289,601

detail;

}1,795,166

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Debts bearing interest in India in 1794-5 amounted to
Ditto in 1795-6 amounted to

£ 5,597,299 5,328,868

Decrease of debt bearing interest

268,431

No. 21, Affets in India, consisting of cash, goods, &c. ? laft

year
Ditto by the present statements

8,867,266

:}8,807,601

Increase of affers

59,665

Adding the increase of assets to the decreafe of debts, the company's affairs in India were better by

551,390

Having stated the affairs of the company abroad, which was the only part for which he was responsible, he proceeded to give the state of their affairs at home, which were more immediately under the charge of the directors. Since the renewal of the company's charter, in 1793, it became necessary to know from the nature of their estates abroad, how much they could allow to government for the renewal of that charter. The result of the accounts was prepared under the inspection of Sir Francis Baring. With respect to the participation of government in the profits of the company, it would appear, from the combined state of the accounts at home and abroad, that the faireft expectations might be formed. IIOME ACCOUNTS.

£. The produce of the fales, up to the first of March, had? far exceeded expectation; the whole amount was

ad} 8,158,495

The fales of the company's goods were estimated at
And actually amounted, after proper deduction, to

5,517,500 6,588,969

The actual excess therefore was

1,071,469

The charges and profits on private trade were estimated at
The actual amount was

60,000 148,417

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371,838

Balance of cash estimated to be deficient last year-

Actual balance remaining this year after paying off -498,2251. of the bonded debt, and having borrowed 150,000l. from the bank

459,398

The

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} 1,082,581

Dedu&ing increase of debts above, from increase of aflets, 2 the state of affairs at home appeared better in 1796, by

Upon a general comparison of debts and affets, Mr. Dan. das 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 iaid before provement. He stated, however, parliament last year for redressing that the expences 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 a. These meritorious men had la- gainst the island of Ceylon, the boured under many hard seips; they spice islands, and the other polief. had not the same chance with his fions which had been captured frono 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 their own country for the benefit of his statements. their health without giving up their Mr. Hulley contended, that the commissions and losing their pay. revenue of India, afer the necesThey had not often the means to fary deductions, fell thort of the enable them to return, nor any half appropriation of a nstion; nor pay if tbey Thould quit the service. could he look upon the revenues These were the grievances they of the company as increasing, be. complained of, and be certainly cause the eftinates of the present thought that their complaints were year were less than the former. He juft. These complaints had been infifted that the company was now completely remedied, and the regu- insolvent, as it would turn out; lations to that effect had been sent that were all its effects turned into to India, where they were highly money, it would not have enough approved of by the great bulk of to pay all demands; the former he the officers. The enforcing of these calculated at 6,734,000l. and the regulations would be attended with latter would amount to 7,780,000l. an expence of about four millions. The resolutions 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, laftly, he then submitted to the committee shewed the fourishing 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,

A GENERAL VIEW OF THE RESULT OF THE ESTIMATES,

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

8,867,266 By the present statements

8,958,669 Increase of afrets in India

91,403

Upon

Upon a comparison of accounts presented this year, with the estimates on which the arrangements of 1793 were formed, the estimated furplus of 1796-7 was 1,584,0081. which exceeded the estimate of 1793 by 70,431l.

y. 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 receipts for 1796-7 amount to

!} 1,882,965 He next begged the committee In 1786 the debts of the comto observe, that though there ap- pany amounted to four millions bepeared to be a decrease in the state yond the alltis; since that time of the company's affairs, they were, they had indeed increased their ca. notwithstanding, as favourable and pital 3,740,000l. but against that as flourishing as the most fanguine was to be placed the sum of person could wish. Some causes 3,330,000l. as the expences of carof a dimninution of revenue he had rying on the war with Tippoo, and poinied out last year, one of which in the capture of the French and was a dininution in the sale of Dutch settlements in the East Indies. various articles, particularly that In 1796, it would be found that the of opium, during war; and the affairs of the company had been other, was the increased amount of made better by the sum of eleven charges, on account of increased millions than they were in 1785. military arrangements in the va. It appeared from the statements rious settlements abroad. He wish that the company's assets abroad ed the present state of the com. exceeded the debts to the amount pany's affairs might be compared of 660,000). and that if their whole with their former condition, when affairs were wound up, they would their solvency was a matter of pub- receive an anoual interest of lic disputation. In 1783, on ac- 950,000l. He concluded with mov. count of the height to which partying a series of resolutions pursuant had run, every thing relating to to his statements, which were agreed their affairs was delusive.

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1797

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