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different sense of that matter. And been argued, úpon any ideas of as to the creditors, it is remark. fixing and preventing a Auctuation able, that none of them appear to in the price of its stock, that, end have called for their money, nor requires only, that the dividend have any of them, by any perition should be fixed, without any regard to this house, or otherwise, made to the quantum of it, and may be any complaint, or signified any de. as well attained by a dividend of fire of such an interposition in their twelve one-half as of ten per cent, favour. On the contraty, it ap- and consequently affords no argu. peared on evidence, from the cross- ment for the retrospective part of examination of the principal wit- this bill, or for fixing the future ness for the bill, that so far from dividend below the value of the doubting of the sufficiency of the stock. But this is in truth so far security, the greatest evil the com- from being the real object of any pany's bond creditors apprehend, part of the present bill, that the is, the being paid off; and that short period to which the restric. their bonds, which some time since tion is confined, cannot but inbore an high premium, though 'crease, inftead of preventing that they carry only three per cent. bear fluctuation, and encourage, instead at present a premium considerably of checking; the infamous practices lower, nerely from that appre. of the alley. The paflions of men henfion.

will be warmly agitated during the othly, Because a legislative in. summer, in fpeculating on the proterpofition controlling the divi- bability of ihis restriction being dend of a Trading company, legally suffered to expire at the opening of voted and declared by those to the next feflions of parliament, or whom the power of doing it is in- being continued further. The igtrusted, and to whom there is no norant and unwary are fure to be ground to impute an abuse of that the dupes of those who have the power, and who lent their money good luck to be in the secret, and to the public upon the express fti. are wicked enough to employ it to pulation that they might exercise their own advantage. But the their discretion with regard to the propofal made by the company, of dividends, provided their effects, submitting to a restriction of diviundivided, were fufficient to an- dend at the rate of twelve one-half swer their debts; is altogether per cent, and extending that re. without example. And as it tends ftri&tion during the temporary to lessen the idea of that security agreement, would have obviated and independence of the power of all those mischiefs, and secured the state, which have induced all every good end which may have Europe to deposit their money in been proposed, but cannot be atthe funds of Great Britain, the tained by this bill; and as such re. precedent may be attended with striction, with their consent, would the moft fatal confequences to have been liable to no objections of public credit.

injustice or violence. nothly; Because, if a bill re- with, Because, if at the opening straining the future dividend of of the next session of parliament, the company were proper, as has the reftriâion is permitted to ex.

pire, the whole effect of the bill, cular time, at the exercise of a except the mischiefs it may pro. power publicly exerted, and which duce, will be the keeping back for has come frequently within the four or five months, from the poc- cognizance, without incurring the kets of those to whom it belongs, censure of parliament; and as this a fum of 40,000l. the difference doubt never was started before, the between the dividend the company objection seems to arise not from wishes, and that which it is allow- the company's having exceeded ed to make by the bill; this fam their power of borrowing upon is ridiculously disproportioned to bond, but from the necessity of any real purpose of paying off and fuch a suppofition, in order to find reducing the company's debts; but a pretence, however insufficient, for if, on the other hand, the reftric. this limitation. tion is then to be continued, and 13th, Because the inability of the parliament henceforward to the company, to make the diviregolate the dividends of the comdends rescinded by this bill, has pany, and the whole of their af- been argued, on a supposition that fairs for that purpose is to be from the right to the territorial acquitime to time laid open to public fitions of the company in the Eastexamination, it is not difficult to Indies, is not in that company, but foresee the ruinous consequences in the public; which method of to the company ; and as the prece. arguing, if admitted as one of the dent will go to the subjecting grounds of the bill, we conceive every other company to the same to be inconclusive as to the subject fort of control, the speedy disso. matter, and highly dangerous as lution of them all will be, perhaps, to the precedent; for the company the happieft event the public can being in poffeffion, and no claim wih, ihat they may not become against them being so much as so many engines of power and in- made, much less established, we fluence, the consequences of which hold it highly dangerous to the it is easy to conceive, and unneces. property of the subject, and exsary to describe.

tremely unbecoming the juftice 12th, Because the arguments in and dignity of this house, by exfavour of this limitation, drawn trajudicial opinions, to call into from a fuppofition, that the com- quettion the legality of such a pany had exceeded their legal possession, and to act without hearpower of borrowing on their bonds, ing, as if the house had decided appears to us to be neither well against it. founded nor conclufive; it appears 14th, Because, the forms of on the plain and express words of proceeding upon this bill have the engrafting act, that they had been contrary to precedent, inas. a power thereby to borrow five mil. much as it appears, by our journals, lions ; so they have always under. that whenever a bill, judicial in ftood; and so parliament under. its nature, as affecting legal rights food and declared in a subsequent and private property, has come act; and we cannot comprehend up from the commons, ftating no the justice, the policy, or the de. facts, as a ground for that bill, or corum, of cavilling at this parti- ftating facts, the evidence of which

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does

does not appear in the preamble, bill, were ordered to proceed. the invariable practice of this was even denied to lords, to bring house has been to defire a confe- again to the bar the two genderence with the other, in order to men who had been examined, (Mr. be informed either of the facts, or Rous, and Mr. Saunders, the the evidence to support such facts chairman, and deputy chairman of (if allegded) on which the bill was the company,) although by the ar. originally framed; and the com- rival of the ship Crattenden, from mons have on like occasions done Bengal, after their examination, the same by this house: inftances which brought a new and very of this mutual application from particular account of the tourishone house to the other, appear in ing flate of the company's affairs the following cases, viz. Mr. in India, it was very poflible those Duncomb's case, March 1697. gentlemen might have changed Directors of the South Sea com their opinion; their former evi. pany, Ailabie and Craggs, - Julydence having been merely matter 1721. Sir Thomas Cooke's café, of opinion resulting from such in. 1695. Cafes of Kelly, Plunket, formation as they were at that and bifhop of Rocheiter, March time possessed of: witnesses were 1722. Bambridge's case, April dismiiled unexamined, whom seve. 1729. Robinson and Thomson's ral lords wished to have been case, March 1731. Sale of Lord'heard, and the bill was passed, Derwentwater's estates, &ci 1732. without waiting for the return of Case of Sir - Robert Sution, and an account, declared by Mr. Rous others, March 1732.

Case of Al. to be such, that without it no Wilson and the city of Edinburgh, judgment of the present ftare of the

affairs of the company could be 15th, Because, in the proceed. formed, and which had been or. ings of this bill, no council was dered by the house; and, as the appointed in support of the bill, officers informed the house, might to tate the grounds, to examine have been prepared in a few days. the witnesses, and methodize the In this manner this bill has passed,

evidence; for want of which the which we are apprehensive may be lords themselves were obliged to found in its consequences very in. call and examine witnefes, and jurious to private propeity, and appear more like parties than alarming to public credit. judges.

Winchelsea and Gower. 16th, Because, also, in the pro. Nottingham, Fred. Exon. ceedings on this bill, when lords, Scarborough, Portland, who declared themselves patrons Temple,

Sondes. ; and friends to the bill, bad exa. Trevor,

Dorfer, mined two: witnefies, and said, Fortescue, Rockingham,

they were satisfied with their exa. Richmond, Albemarle, mination, other lords were not Dedley and Ward, Eglintoune, permitted to call in any other wit. King,

Abergaveny, neffes, before the council for the Weymouth, Ponsonby. East India company, against this

Tranf.

May 1737

In the year

of

Translation of his Catholic ma. garrisons, prisons, and other pla

jefty's ordinance for the banith. ces; and to the president and oment of the Jesuits.

thers of my council, auditors of

my several audiences, mayors and PRAGMATIC SANCTION other officers of my houshold, court

and chanceries; and to all peace Of his majesty, with force of law, officers, fuperiors, alliftants, go. From the banishment from these dinary, and to all other judges

vernors intendants major and ora kingdoms of the regulars of the and magiftrates whatever of these company; for the seizure of their temporalities, and the pro- di&ion be royal, feodal, abbatial

my kingdoms, whether their jurise hibition forever of their re-esta

and holding of certain orders, and blishment; with the other pre

whatever be their state, condition, cautions therein expressed.

quality, or pre-eminence, as well

those who now are, as those who The arms

shall be hereafter, and to all and 1767. every one of you : Spain.

KNOW ye, that, in conformity

with the opinion of my royal coun. In MADRID:

cil extraordinary, assembled in

consequence of the former occur. At the royal printing office of the rences of the 29th of lat January, Gazette.

and of what has been exposed to

me by persons of the most eminent ON CARLOS, by the grace character, and known experience, ragon and the two Sicilies; of Jc. moved by considerations of the rufalem, Granado and Toledo; of most weighty kind, relative to the Valencia, Galicia and Majorca ; duty incumbent on me of keeping of Seville, Sardinia and Corsica'; my people in due subordination, of Murcia, Jaen and the Algar- tranquillity and justice, and by ves; of Algezira, Gibraltar, and other urgent, juft and necessary the Canary islands; of the Eaft caufe, which I reserve within my and West Indies, islands and con- own royal breast: Making use of tinent of the ocean ; Archduke of that fupreme, economic authority Auftria,' Duke of Burgundy, Bra. which the Almighty has lodged in bant and Milan; Count of Apf- my hands for the protection of my burg, Flanders, Tirol, and Bar. 'subjects, and maintenance of the celona ; Lord of Biscay, and Mo. respect due to my crown, I have lina, &c.- -To the most fesene come to the resolution of ordering prince - Don Carlos, my dear and to be banished out of all my do. well-beloved fon; to the infantos, minions of Spain and the Indies, prelates, dukes, marquises,counts, and of the Philippine and other men of substance, priors of orders, adjacent islands, the regulars of commendacories and sub-commen- the company, as well priests as datories, commanding officers of coadjutors or lay members, who have made their first profession; barely making use of my cecono, as also such of their novices as mic power, without proceeding shall be disposed to follow them; to other steps ; following in this and that all the temporalities of the the bent of my royal clemency, as company in my dominions be father and protector of my peo. seized : and, for the uniform exe. ple. cution thereof throughout the same, III. I declare, that, in the I have, by another royal decree of seizure of the company's tempo. mine of the 27th of February, ralities, are comprised their goods given full and exclusive commission and chatiels, as well moveable as and authority to Count Aranda, immoveable, or ecclefiaftic reve. president of my council, with nues, which they are legitimately power to proceed forthwish to take possessed of in the kingdom, with. such measures as may be adequate out prejudice to the encumbrances Thereto.

have

thereon, to the will of founders, 1. And, in like manner, I have or to the alimentary life-annuities come to the resolution of ordering of its individuals, which shall be my counsel to make my aforesaid of 100 persons during life to royaldetermination known through the priests, and go to the lay memall these kingdoms; acquainting bers, to be paid out of the gene. all the other religious orders with ral stock formed of the company's the share they deservedly possess effects. in my confiderce, satisfaction and IV. In these alimentary annui. esteem, on account of their fide. ties are not to be comprised any lity and doctrine, of their com. foreign Jesuits who have no lawful pliance with their monastic infti. existence in my dominions, either tutes, of their exemplary services within their colleges, or without done to the church, of their com. them, or in private houses, dressed mendable attention to study, of in the tunic or garb of abbots, and their sufficiency in point of the whatever be the office they are numbers of their individuals, to. employed in; all such being rewards affitting the bishops and pa. quired to quit my dominions, withrochial pestors in the spiritual nu- out any distinction. triment of souls; as also of their V. Neither are novices to be forbearing to meddle with govern- comprehended in the alimentary ment affairs, as matters quite fo- provifions, who, of their own acreign to, and wide of, a retired cord, shall chusé to follow the rest, and religious life.

as being under no ties of profession II. I have also signified to the to follow them, but at perfect lireverend diocesan prelates, eccle- berty to separate from them. fiaftical communities and chapters, VÍ. I declare that if any Je. and other establishments, and bo- fuit quit the territory of the ecdies politic of the kingdom, that clefiaftical ftate whereunto they the weighty motives, which, to are all transported, or give the my great regret, have compelled court any juit motive of resent. me to take this necessary measure, ment by his actions or writings, are reserved within my royal mind; the pension afligned him thall

thence

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