FINANCE. 237 



were India invaded by a Russian or French 

 army, the flame of insurrection would burst 

 forth from Peshawur to Cape Comorin ; such 

 a flame too as would be in all ^probability 

 far more difficult to quench than the last. At 

 any rate, however, India must be worse than 

 valueless if we continue to hold it on the 

 present terms. Heretofore the cost of govern- 

 ing India has been about 30 millions sterling 

 per annum, and, the gross revenue hardly 

 amounting to so much, the deficit had to be 

 made up by loans. But the present deficit 

 is one of millions, owing to the failure of 

 revenue, and the vast European force that it 

 has been found necessary to maintain. The 

 functionary appointed to introduce financial 

 reform in India is known to be a man of much 

 talent, but being totally without Indian ex- 

 perience, he must necessarily be for a con- 

 siderable time completely in the hands of 

 subordinates. 



The Indian debt at present amounts to nearly 

 70 millions sterling, and the last financial report 

 exhibited a very unpromising future. The Go- 

 vernment has squeezed the population till no- 

 thing more can be obtained, for the taxes here- 



