nation, in as much as, in the several European wars in which this country has been engaged since the peace of Aix-laChapelle, the forces of the petitioners alone, or in conjunction with the forces of his majesty at the expence of the petitioners, have taken all the settlements belonging to the Europeans on the continent of India with whom this nation has been at war, and such captures have formed part of the price of national peace, without any compensation to the petitioners; and that, upon the suggestion of his majesty's ministers, the petitioners sent a large force from India into Egypt, by the Red Sea, to co-operate with his Majesty's forces against the French, in the year 1801; and, in the present war, by expeditions equipped from India, all the possessions of the French, Dutch, and Danes, in the East, have been conquered; and though, as to such of those expeditions the accounts of which have been settled, the petitioners have been allowed considerable sums on the part of the public, yet such allowances were calculated to reimburse only a part of the vast expenditure actually advanced by them for those great national objects; and that the petitioners humbly hope they will be found to have been as attentive to, and as successful in, the cultivation of the trade with China as they have been with respect to the concerns in India; the peculiarities of the Chinese, and the delicacy attendant upon any intercourse with them, must be too well known as matter of history to every member of the House, to require any statement of it in this Petition; it will be sufficient to inform the House, that it is but a little more than one hundred years since any trade whatever has been carried on between this country and China; and that at this time about 46,000 tons of shipping are employed by the petitioners therein, and that they entertain in China for the purposes of that trade a regular establishment of servants called supra cargoes, and others of inferior ranks, whose business it is to keep up a connection with the few merchants, or more properly mercantile officers of the Chinese government, who are deputed to manage on the part of the Chinese all the commercial transactions between Great Britain and China; by this means the trade has been cherished and preserved through and notwithstanding many perils arising from circumstances apparently trivial, and the fatal consequences of which were no effectual means of resort for the support of any right, or the avenging any wrong, and the will of the strongest was the only practical rule of conduct which was established; and that, under the management of the petitioners, the scene has been entirely changed; by fixing certain permanent and invariable rents, a new and valuable property has been, as it were, created to the natives; by the establishment of courts of justice, and the appointment of liberal emoluments to those who devote their lives to the study and administration of laws adapted to the usages, customs, and religions of the inhabitants, they have removed temptations to corruption, and have provided the means for the inhabitants to be insured in the enjoyment of property thus created for them; courts of criminal judicature have also been universally erected, which have effectually provided for personal liberty and security; and by the alterations which have taken place, the practical means of foreign commerce, of traffic from port to port and internally, have been facilitated, very greatly to its increase; and, that it may not be supposed that the petitioners have assumed merits which they are not entitled to, they beg leave to refer to the Fifth Report of the select committee of the House on the affairs of the East India company, which was presented to the House on the 28th day of July last; and that, notwithstanding the ameliorated condition of the natives of India under the government of the petitioners, to which they have been accustomed, yet the tranquillity of the country is not maintained by a physical force, but chiefly by moral influence, and in a great degree even by prejudice; any change would alarm them, and their submission to British authority would be greatly endangered by an unrestrained resort of Europeans in search of wealth, either by commerce or other means, at distances from the principal seats of government, or in such numbers at those seats as to be beyond the controul of the governors, and by the resort of persons who may not have such connection with (and interest to uphold) the authority of the ruling power, as will insure the utmost care in their conduct, not only not to irritate but positively to conciliate the natives with whom they may have dealings; and the petitioners beg leave to represent, that their military establishments, artillery, and marine, have been of other most important advantages to this could only have been averted by the most annual sum of 8,000,000l. or thereabouts, delicate conduct, and by the whole com- and by the latest account and estimates remercial concerns of the British nation be-ceived from the East Indies, the revenues ing confided to one united authority; and that the petitioners feel it incumbent upon them to submit to the House an abstract of their financial operations since the arrangement contained in the above mentioned act of the 33rd year of his present Majesty was made; at that time the capital stock of the petitioners amounted to the sum of 5,000,000l.; since that period, in pursuance of an act passed for that purpose, the capital stock has been encreased by the sum of 1,000,000l. contributed by the subscribers at the rate of 2001. per cent.; and that at the time when the act of the 33rd of his Majesty was passed, sundry debts incurred in the defence and protection of the British possessions in India, bearing interest, were then due and owing by the petitioners, amounting to 7,000,000l. sterling, or thereabouts; since that period the said debt has been very much increased for the same purpose, and great part of such increased debt was raised upon loans, by the terms of which the creditors were entitled to the option of being paid off in India or by bills of exchange to be drawn upon London, and upon such obligations becoming due, the petitioners have been obliged to provide out of their funds and credit at home, the means of paying bills of exchange drawn upon them since the year 1807, to the amount of 10,902,9247. sterling, in discharge of Indian debt, and the debt contracted for political purposes, now remaining due in India, according to the latest advices from thence, amounts to the sum of 26,000,000l. or thereabouts, over and besides the sum of 3,000,000l. reduced 3 per cent. annuities, and the sum of 1,400,000l. consolidated 3 per cent, annuities, on which the sum of 2,500,000l. sterling was raised, in pursuance of an act passed in the last session of parliament, to enable the petitioners to pay bills of exchange, which had been drawn upon them from India, in part discharge of the Indian debt, as hereinbefore mentioned, and also over and besides the sum of 2,202,0001. or thereabouts, now owing by the petitioners upon bills of exchange not yet due, but payable in London, and which have been drawn in India, in further part discharge of the said Indian debt; and that the revenues of the territorial acquisitions in India, in the possession of the petitioners, in the year 1793 amounted to the of the territorial acquisitions now in the possession of the petitioners, amounts to the annual sum of 16,000,000l. or thereabouts, but the civil and military expences of the government have proportionably increased: and that the profits of the trade carried on by the petitioners since the year 1793, to the latest period to which the accounts can be correctly estimated, have amounted to the sum of 6,289,4051., over and above the commercial charges of the petitioners, and beyond the payment of interest on their bond debt in England, and besides the dividends from time to time paid on the capital stock of the petitioners, according to the directions of the said act, passed in the 33rd year of his present Majesty; and that in 1793, the bond debt in England of the petitioners amounted to the sum of 3,200,000l., or thereabouts, since which, by an act passed in the year 1797, they have been empowered to raise money by increasing their capital stock, by the amount of 2,000,000l. but they have not availed themselves of that resource, but, under the authority of several acts of parliament, they have raised money upon bond, and their bond debt in England now amounts to the sum of 5,409,3257., but the petitioners are entitled by law to issue bonds to the amount of 7,000,000l. in the whole; and that the annual interest upon the present amount of the Indian debt now amounts to the sum of 1,600,000l., or thereabouts, and as by the terms of the loans on which such money was raised, the creditors are entitled to receive their interest by payment of money in India, or by bills of exchange, to be drawn and made payable in London, at rates favourable to the holders, and, judging from the amount drawn within the last half year, the petitioners estimate that the annual sum of 1,500,000l. or thereabouts, will be necessary to be provided annually in London for the payment of such interest, besides which, although the several sums of money payable in respect of the reduced and consolidated annuities, (on which the said sum of 2,500,000l. was raised by virtue of the said act of the last session of parliament) for interest and sinking fund attendant thereon, amounting altogether to the annual sum of 242,8201., are expressly charged upon the revenues of the territorial acquisitions in the East Indies, yet the petitioners are bound by the said act, at all events, to pay such sums of money into the Bank of England, in manner in the said act mentioned; and the petitioners will also be obliged to provide, in London, the interest and other charges which may be attendant upon any further loan which may be necessary, in consequence of the said further sum of 2,202,000l., part of the Indian debt, for which bills of exchange, drawn upon the petitioners, are now outstanding; and it is estimated that political charges (including payments to be made to the creditors of the late nabobs of the Carnatic) consequential upon the Indian territory, to the annual amount of 910,000l. or thereabouts, will be to be defrayed in England; and as, from the best estimates which can be made, there appears but little reason to expect (without a considerable reduction of the military expences of the petitioners in India) that there should be any sufficient surplus revenue to be remitted for those purposes, the petitioners apprehend that the punctual discharge of the pecuniary obligations of the petitioners in relation thereto, as well as the payment of the interest upon their bond debt in England, and the dividends on their capital stock, will depend most essentially upon the trade to be carried on by the petitioners; and that, in pursuance of several acts of parliament since 1807, the petitioners have increased their bond debt in England by the sum of 2,409,3251.; and in pursuance of an act passed in the 50th year of his present Majesty, the petitioners have borrowed exchequer bills of the public to the amount of 1,500,000l.; and by virtue of an act passed in the last session, as hereinbefore mentioned, the petitioners raised on loan, by way of reduced and consolidated annuities, the sum of 2,500,000l.; and all such sums of money, together with the said sum of 6,289,4051., which has arisen from the surplus profits of the trade carried on by the petitioners, as herein-before mentioned, have been absorbed by payment of debts and expences incurred in respect of the territorial acquisitions in India; and that in the expeditions on the part of the British nation against the European enemies of his Majesty, and by advances for his Majesty's navy and other public services, the petitioners have incurred very large expences, which they submit they are entitled to be reimbursed by the public; and the petitioners compute, that after allowing such sum as they are indebted (VOL. XXIV.) to the public for the loan of exchequer bills, to the amount of 1,500,000!, as herein-before mentioned, pursuant to an act for that purpose, passed in the last session of parliament, and after allowing such sums as the petitioners are indebted to his Majesty for troops in India, and for recruiting, the sum of 2,294,4267., at the least, will be found due to the petitioners; and that the petitioners have now exhi bited, they hope, with candour, the real situation of their affairs, and of the British trade, and relations with the East Indies and China; the petitioners do not presume to offer an opinion whether any other arrangements than those which have taken place would have led to results equally or more advantageous than have arisen to their country, but they apprehend it to be quite undeniable that the privileges entrusted to the petitioners have produced a large quantity of positive benefit to the British empire, and they submit that any material change in the Indian system would be matter of experiment, for which there can be no sufficient data from which its success can be calculated; and that the petitioners feel it to be their duty to express to the House their sincere opinion that the public interest cannot be better consulted than by continuing the petitioners, as the sole organs and channel both for the trade with and the government of India, upon the principles established by the act of the 33d year of his Majesty's reign, with such variations as to the financial appropriations, and in some other points of detail, as present circumstances require, and experience has pointed out; the petitioners ask not for an exclusive trade upon the narrow principles of monopoly, for the mere purpose of commercial gain; they have under their care interests of a much more extended and liberal nature, which it is their duty to attend to; the petitioners are ready to become parties to any arrangement which shall be consistent with their rights, and the security of British India, and which will not deprive them of the means of fulfilling their pecuniary engagements with the public and individuals, or the performance of the functions which may be continued or allotted to them; and they hope they will not be deemed presumptuous in humbly submitting their opinion, considered and re-considered, that the opening the trade with China in any degree would endanger its existence altogether; and that the pe(2X) titioners have at no time contemplated erected and improved upon them, with a any alteration even in the export trade to compensation for the services and risk of the East Indies without considerable the petitioners during the long time which doubt and hesitation; but they are firmly they have had the possession and governof opinion that the unrestrained liberty of ment of such territories, under the conimportation from that country, otherwise firmation of parliament, and all other than through the medium of their esta- charges incurred by them relative to such blishments in London, would produce ef- territories; these expences and charges fects which every well-wisher to his amount to many millions of money; the country must deprecate, and which would petitioners also submit, that they have a put to extreme hazard any pledge on just claim to be reimbursed all the sums their part for the good government of they have paid in discharge of debts conIndia, or the performance of their obliga- tracted on account of the territories, and tions; the petitioners submit that they to be indemnified against all other debts would not be justified in becoming parties in respect of them, and which now remain to any system which, on consideration, undischarged; and that the petitioners do should appear to them likely to prove an not question, as an abstract principle, the illusion; and that, as the petitioners do right of any of his Majesty's subjects to not venture to anticipate what may be trade with any part of his Majesty's dothe determination of the House upon the minions; but they humbly submit, that it question hereby submitted to its decision, cannot be contended that any persons they hope that they will be excused for can have a right, except with the consent humbly stating what, in the event of the of the petitioners, to use the settlements, dissolution of the present system, they factories, and seats of trade, or to avail conceive would be found to be the rights themselves of the means and facilities, of the petitioners, as well as their fair pre- moral and physical, which the petitioners tensions upon the justice and liberality of at a great expence and risk, have created parliament; the absolute right of the pe- or acquired, and now at great current titioners, for their own use, to a consi- charge maintain, for the purposes of comderable part of the forts, towns, islands, merce and civil intercourse; and that, on territories, and rights which they have account of the complicated nature and acquired abroad, never has been question- variety of the matters necessary to be ed, and they believe it to be unquestion. considered and prepared in relation to the able; and, notwithstanding the claim subject of this Petition, the petitioners made for the public to other parts of the were unable to prepare a Petition subterritorial acquisitions and revenues of mitting their case relative thereto to the the petitioners, they entertain a strong consideration of the House, until the time hope that the property, as well in those limited for presenting Petitions for private parts which were acquired by conquest Bills was expired; and praying that under the powers of peace and war law-leave may be given to present a Petition, fully exercised by them, as in those parts which were otherwise acquired, would be found to belong to the petitioners, in the same way as any other property within his Majesty's dominions belongs to the owners thereof, subject to the sovereignty and allegiance due to his Majesty; but even supposing it should be determined contrary to the sense and expectations of the petitioners, touching their rights, that those places were not the property of the petitioners, they submit, that in that case, if the possession were to be assumed on the part of the public, they would have a just right to reimbursement of the expences which they have incurred in acquiring and maintaining them, and in making the fortifications, and civil and military buildings and works, which they have praying that the House will take the premises into its consideration, and make such provision, as in its wisdom it shall see fit, for continuing the government of the territorial acquisitions in the East Indies in the petitioners, and for settling the trade to the East Indies and China, and other places, from the Cape of Good Hope to the Streights of Magellan, according to the present system; or that the petitioners may have such relief, in the premises, as their case may require." Ordered to be referred to a Committee. PETITION FROM THE EAST INDIA COMPANY RESPECTING THEIR ACCOUNT WITH THE PUBLIC.] A Petition of the united company of merchants of England trading to the East Indies, was brought up and read; setting forth, "That the loans of very large sums of money have heretofore been raised in India on the credit of the petitioners, for the defence and protection of the British possessions there, by the terms of which loans the creditors were entitled to the option of being paid off in India, or by bills of exchange to be drawn upon London, and upon and in consequence of such obligations becoming due, bills to the amount of 13,104,9241. have been drawn, since the year 1807, upon the petitioners, payable in London; and the sum of 10,902,9241., part of the said sum of 13,104,9241. has been discharged by the petitioners; and 2,202,000l. residue thereof, now remains outstanding; and the larger part of the bills drawn for the same will become due previous to the month of March 1814; and that, for the purpose of enabling the petitioners to pay the said bills of exchange which they have so discharged, to the amount of 10,902,9241. they borrowed exchequer bills of the public to the amount of 1,500,000l. in pursuance of an act of 50 Geo. 3, for granting to his Majesty a sum of money to be raised by exchequer bills, and to be advanced and applied in the manner and upon the terms therein mentioned, for the relief of the united company of merchants of England trading to the East Indies; and the petitioners also raised a sum of 2,500,000l. upon reduced 31. per centum annuities, and consolidated 31. per centum annuities, respectively transferrable at the Bank of England, in pursuance of an act of 52 Geo. 3, for advancing 2,500,000l. to the East India Company, to enable them to discharge part of the Indian debt; and that, by another act of 52 Geo. 3, to amend an act of 50 Geo. 3, for granting a sum of money to be raised by exchequer bills to be advanced and applied in the manner and upon the terms therein mentioned, for the relief of the united company of merchants of England trading to the East Indies, it is enacted, that it shall be lawful for the commissioners of his Majesty's treasury, or any three or more of them, to carry to the credit of the petitioners, in repayment of the sums advanced under the provisions of the said act of 50 Geo. 3, any sum or sums of money which should have been advanced or disbursed by the petitioners, in the East Indies, for his Majesty's navy, or any public services; and that the petitioners compute, that after allowing, in account, such sum as the petitioners are indebted to his Majesty for the loan of the said exchequer bills, that the sum of 2,294,4261. at the least is now due to the petitioners, in respect of money which has been advanced or disbursed by the petitioners, in the East Indies, for his Majesty's navy and other public services; and that by virtue of an act of 37 Geo. 3, to enable the East India Company to raise money by further increasing their capital stock, and to extend the provisions now existing respecting the present stock of the Company to the said increased stock, the petitioners are now authorised to raise money by increasing their capital stock by the sum of 2,000,000l.; but the peti tioners have not raised any money in exercise of the powers contained in the said act; and that the petitioners are now authorized by law to raise money in England, upon bonds, to the amount of 7,000,000l.; and they have now issued bonds to the amount of 5,409,3251. and are at liberty to issue further bonds to the further amount of 1,590,6751. and by an act of 51 Geo. 3, to enable the East India Company to raise a further sum of money upon bond, instead of increasing their capital stock, and to alter and amend an act of 47 Geo. 3, relative thereto, it is provided, that when the petitioners shall have raised, under and by virtue of the said act of 37 Geo. 3, and of the said act of 47 Geo. 3, and of that act, such sums of money as together should amount to the sum of 4,000,000l. sterling; from thenceforth it should not be lawful for the petitioners to raise any further sum of money upon bond; and all money, which from thenceforth should be raised by increase of capital stock, under and by virtue of the said first mentioned act, should be applied in discharge of the said bond debt, until the said bond debt created by virtue of the said act of 47 Geo. 3, or of that act, together with the money to be raised by increase of capital as aforesaid, should be reduced to the sum of 4,000,000l. sterling; and that, upon an estimate of the probable receipts and payments of the petitioners in England, including amongst the receipts the said sum of 2,294,4261. so due from the public to the petitioners, as hereinbefore mentioned, it appears that it will be advantageous and necessary, to the concerns of the petitioners, that they should be authorized to raise the sum of 2,500,000l. on loan, in a different manner from that in which they may now raise money, for the |