98 
year, to the amount of half a mil- 
lion, in the prosperity of the com- 
pany ; but if war should again break 
out, they must, for a time, forego 
this advantage. He then moved a 
variety of resoluticns, conformable 
to the statements in the budget. 
Mr. Johnstone thought, his lord- 
ship was not justified, by any past 
experience, in drawing such a flat- 
tering view of the future prosperity 
of the company: the fact was, that 
hitherto, notwithstanding the fine 
statements, annually made to par- 
liament, the debts of the company 
were annually i increasing ; there had 
been no less than seven millions of 
difference between the estimates and 
the-results, for the last three years; 
which prevented him trom giving 
much credit to the calculations of 
the noble lord for the future. He 
then entered into a variety of cal- 
culations, to prove, that the finan- 
cial statements of his lordship were 
much exaggerated. As to the ex- 
tention of our territories in the East, 
it was not only contrary, in point 
of policy, to the opinions of every 
man of abilities and superior judg- 
ment, but contrary to a positive act 
of parliament ; and they were ob- 
tained by violations of national faith, 
as disgraceful as any of the most 
reprobated acts of the French go- 
vernment. ' 
The chancellor of the exchequer 
~ denied, that our conquests had been 
made unjustly; as to the circum- 
stance alluded to (the assumption 
of the territories of Arcot) he hoped 
that the house would not entertain 
any prejudice, against some of the 
most meritorious men the country 
could boast; but allow them time 
to explain and justify their conduct 
in that affair. 
ANNUAL REG 
IST ER, 1803. 
Mr. Francis, objected tothe state- 
ments of the noble lord, as built up- 
on estimates which might, or might 
not, be made good, and pérhaps on 
false documents. ‘Those estimates 
were nothing but promises, held out 
from year to year; and promises 
which, hitherto, had always failed. 
On the renewal of the charter, half — 
a million annually was to be paid 
to the public ; and yet the public 
never yet had received more than 
one year’s profit from this. 
contended that the whole statement 
of to-night, was fallacious, 
not to be depended on; and that 
the accounts were not fairly drawn. 
Mr. W. Dundas, and Sir The- 
ophilus Metcalfe, replied to the 
arguments of Mr, Johnstone and — 
Mr. Francis, and supported the ~ 
statement, made by the noble lord, 
in the name of the East India com- 
pany. 
voted, and the report received. 
On the 15th, the house of peers 
resolved itself into a committee, on 
the prince of Wales’s annuity bill. 
The earl of Carlisle was still of 
opinion, that this bill was inade- 
quate to the object it professed ; but, 
in the present circumstances, it was 
perhaps better to be silent on that 
subject. He did consider the pre- 
sent times, extremely perilous ; for 
though our soldiers and sailors were 
brave, we had but a weak admini- 
stration. 
could not fairly be called into efiect, 
when its rulers were incapable of 
directing its energy. He said, that 
to the present bill, he must give a 
reluctant concurrence; but ex- 
pressed a strong hope of a change 
being made in the administration. 
Lora Pelham, defended the con- 
duct of ministers, who had not 
sought 
He 
and — 
The resolutions were then 
The spirit of the country 
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