Imatges de pÓgina
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hereafter derive from the happy re- observed, that the estimates of the fult of the war would abundantly Bombay government were as accuoverpay them for the expences at-rate as thofe of any of the other tendant thereon, and prove a prefidencies, and he brought the fource of the brighteft profperity accounts regularly forward, in orto their concerns in India. der that the public and the house might be able to form a competent judgment of their accuracy.

Having gone through the feveral articles of the accounts of the prefidency of Bombay, the fecretary

BENCOOLEN AND OTHER SETTLEMENTS.

Spanish dollars at 51.

No. 10.

Revenues of fort Marlborough on
average, 1795-6, to 1797-8
Charges, ditto, ditto
Net charge

Bombay,
Bencoolen,

Supplies from Bengal to Marlborough, Pi-
nang, &c. estimated for 1797-8

No. 18. and 19. The actual amount was
Being more than estimated

No. 11. Supplies estimated for 1798-9

Amount actually advanced
for purchase of inveft-
ment, payment of com-
mercial charges, and in
aid of China investment.
At Bengal, No. 18, in rupees
Madras,
19, in pagodas
20, in rupees
22, in rupees

Dol.

} 20,707

418,827

398,120

Rupees.

Pi-} 8,58,400

16,32,993

7,74,593

11,71,600

Revenues. Bengal, in rupees
Madras, in pagodas
Bombay, in rupees

1,50,19,685
16,19,260

27,53,902

2,04,793

Sum

Exceeds amount applicable for revenues as above

No. 22, Cargoes invoiced from India to Europe }

in 1797-8, with charges

GENERAL VIEW.

Refult of estimates 1798-9 collectively.

6,25,96,008
50,12,483

30,76,537

Sum

£.

5,177

104,707 99,5 30

£

$5,840

163,299

77:459

117,160

1,501,968 647,704

309,814

20,479

2,479,965

2,091,832

2,583,690

6,259,600 2,004,993 346,110

8,610,703

Charges.

Charges. Bengal, in rupees
Madras, in pagodas
Bombay, in rupees

Sum of charges

Net estimated revenue of the three presidencies
Deduct, fupplies to Bencoolen, &c. in rupees 11,71,600

Remainder

Dedu& further. No. 16. Intereft on the debts

Deficiency of territorial revenues

Deduct from No. 15. Estimated amount of sales of imports and certificates

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The remainder

559,118

is the amount estimated to be applicable in 1798-9 to the purchase of investments, payments of commercial charges, &c.

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DEBTS IN INDIA.

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year

3,95,28,473
71,43,797
88,59,550

DEBTS BEARING INTEREST.

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Rupees. 9.29.45,394 11,03,26,452

1,73,81,058

34,55,792

D2.

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7,47,91,626

8,93,36,486

1,45,44,860

} 57,67,752

75,81,353

18,13,601

ASSETS IN INDIA.

Confifting of cash, goods, ftores, &c. laft year 10,53,11,453
No. II.
Ditto by the present statements

9,92,29,034

Decrease of affets

60,82,419

Add decrease of affets to the above increase

of debts, the state of the company's affairs 2,34,63,477 in India is worse by

£. 3,952,847 2,857,519 996,699

7,807,065

803,638

117,160

686,478 758,135

71,657

630,675

L. Sterling. 9,294.539

11,032,645

1,738,106

345,579

7,479,162 8,933,648

1,454,486

576,775

758,135

181,360

10,531,145 9,992,903

608,242

2,346,348

HOME

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tral property

The fales of the company's goods

estimated at

Actually amounted to

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6,691,327

8,337,066

More than estimated

1,645,739

The receipts on the fale of the company's goods 5,905,927

estimated at

No. 13. Actually amounted to

7,764,404

1,858,477

Receipts more than estimated

Charges and profits on private trade estimated at No. 23. Actually amounted to

More than eftimated

No. 23. Actual balance was in favour

In March 1798 No. 23. In March 1799

Decrease

GENERAL RESULT.

Balance at the end of the year 1798-9, expected to be against 1,318,937

the company

805,938

Better than eftimated

2,124,875

Occafioned by increafed receipts on fales, fmaller payments on fundry accounts; fupplies to India nevertheless extenfive, and 500,000l. of bond debt paid off.

ESTIMATE 1799-1800. No. 23. Receipt for fales of company's goods

£. 10,315,256

RESULT.

Calculating upon a fupply to India and China to a large amount, and on the payment of 800,000l. to the bank, balance against the company on the 1ft of March 1799

DEBTS AT HOME.

100,000 137,394

37,394

£.

7,840,528

565,988

7,284,694 7,103,762

180,932

ASSETS

ASSETS AT HOME AND AFLOAT.

In March 1798

No. 23. In March 1799

Increase

Adding the increase of affets to the above decrease of debts,"

the state of affairs at home appears better by bts, } 4,089,190

CHINA AND ST. HELENA.

Balance at China last year, against No. 24. Ditto this year, against

Increase of debts in India
Decrease of debts at home

Increase of debts

Decrease of affets in India
Increase of affets at home

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718,945 1,073,607

Worse this year than the laft in China,

354,662

No books received from St. Helena fince last year's balance was ftated.

GENERAL COMPARISON OF DEBTS AND ASSETS.

Deduct, balance at China worfe

Net improvement

Mr. Dundas, having gone through the whole of the figures, faid he had no doubt on his mind but that the committee would be convinced, as he was, from the results of the whole, that the affairs of the EaftIndia company were in a most flourishing and profperous fituation. Whatever deficiencies might appear in the affets in India, or in the increase of the debt there, it was evident that the revenues and fales at

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L. 608,242
3,908,258

3,300,016
354,662

£.

13,211,370 17,119,628

3,908,258

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1,738,105 180,937

1,557,173

Net increase of affets

2,945,354

The increase of affets, or the improvement of the company's affairs in general, is in this view proved to amount in the prefent year to

1,388,180

Deo as to form a part of the flocke aflets arrived in India, 279,653

fo a stock there

1,108,527

home so far exceeded what they had done in any former period, that the happiest and moft beneficial confequences might be expected to result from them. It was not his intention to trefpafs long on the time of the committee at prefent. The charges of the war, he obferved, were not yet afcertained: it was highly probable thofe expences might have increased the debt in India. There was one point, however, to which he wished

to call the attention of the committee. It might, perhaps, be afked, how far the Eaft-India company were warranted in keeping up fo great an investment ? He confeffed that, confidering the great expences attending the company's investments in time of war, they might be juftified in importing no more than was abfolutely neceffary. But fhould this be the cafe, it would be productive of a moft grievous, if not irreparable injury, to a great number of manu. facturers of Indian fabrics, fubjects of this country, whofe profperity, and whofe habits of daily industry, depended almost totally on the encouragement and fupport given to their labours and their ingenuity by the Eaft-India company. Should their capitals be injured, and their induftry destroyed, for want of fupport in time of war, the India company would find the difadvantage of it when they wished to extend their investment on the return of peace. The woollen manufactures alone, exported by the company, amounted to the fum of 600,000l. He allowed, that, on the export of woollens taken in the China market, the company loft about 12,000l.; but would they, he asked, be juftified, in confequence of fuch a lofs, in neglecting the encouragement of our manufactures at home to the amount of 600,ocol, and of our fubjects who are manufacturers in India to a very large amount alfo ?. They had bet ter, he thought, contract their debt than their investment, Mr. Dundas then flowed, that in proportion to the difficulty of raising money in India, merchants, gentlemen, officers, and others who had made fortunes in India, were induced to remit fuch fortunes home, either in articles of trade or in bills of exchange, which depended on the intereft of money being very high or very low. Of

these circumftances the Eaft-India company could take advantage, and by that means from time to time confiderably diminish their debt.

By an account in the years 1797 and 1798, the company had extended their affairs abroad. In the articles of exports for goods and ftores, bullion. bills of exchange accepted, and transfer of Indian debt, they remitted no lefs a fum than 2,769,7761. In the years 1798 and 1799, when there was a probability of their being engaged in a war with Tippoo, the directors and the board of controul were unanimously of opinion that a million fterling fhould be fent out to India. This million fterling had paid the army, and placed every department on the moft firm and permanent footing; and yet in thofe years the company had fent in bullion, goods, and ftores, bills of exchange accepted, and transfer of India debt, to the amount of 3,566,4837. In the years 1799 and 1800, goods and stores, bullion, bills of exchange accepted, and transfer of India debt, the fum of 4,324,418/. making in the whole 10,660.677. Mr. Dundas faid there yet remained the article of fales, which lately amounted to four mil lions above the estimate, and was a more ftriking and fignal proof of the profperity of the country. At the fame time, he said, it was two or three millions more than in former years on the article of tea. He faid that, notwithstanding all that had been faid by phyficians of its noxious and deleterious qualities, we had the moft convincing proof that it was now become almost an actual neceffary of life. The fales of tea last year amounted to 25 millions of pounds weight. In point of revenue, in 1785, it was only 324,000l.; last year the revenue amounted to 1,410,117, and the duties on it to upwards

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