COMPANY. 
licit!y, and again ft the letter of tliefe abrogated laws, are 
removed ; and all perfons in India, not l'pecially prohi¬ 
bited by the company, or reftrifted by their covenants, 
are authorized to aft as mercantile agents for any who 
nuy choole to employ them; and if there (hall be a want 
of faftors (properly qualified and authorized) the com¬ 
pany are to licence free merchants, with the approbation 
of the board ofcontroul, fo that there maybe always a 
proper lupply of agents for conducting the private trade 
abroad. But the becoming faftors is not to exempt any 
perrons from being amenable to the general authorities of 
the governments in India ; and all agents are redrifted 
from going beyond ten miles from fome principal fettle- 
merit, without fpecial leave. As a further relief to pri¬ 
vate traders, the duty of five per cent, granted by an aft 
of king William, on good^ imported in private trade, is, 
in refpeft to the India trade, repealed; and the com¬ 
pany’s former charge of two per cent, dilcontinued ; and 
in lieu of thefe, and in fatisfaftion of the expences of un- 
fhipping, hoyage, cartage, warehoufe-room, forting, lot¬ 
ting, and felling, private goods, the company is to have 
three pounds per cent, on the grofs amount of the fries 
of private trade, the cuftoms thereon included. The re¬ 
peal or rhe allowance thus fubflituted, is however not to 
extend to fpecial engagements made between the com¬ 
pany, and any of their officers, touching their privileges. 
For the eafe of manulaflurers, wh > may import any arti¬ 
cles of raw inateri Is. rules or hy-iaws are to be framed 
and eftablifh >1 for bringing them to as early a fale as pof- 
fibfe ; and for preventing any undue preference in the 
files of the fa tie commodity ammiglt any of the import¬ 
ers, whether th ; goods belong to the company or to indi¬ 
viduals, the fates are to be open and public, by inch of 
candle, and the whole confignment bought in by the pri¬ 
vate importer, is to be delivered out to him, on payment 
only o rhe duties and other dues thereon. All other 
goods imported in private trade, are to be fold and treated 
as heretofore, according to tae by-iaws of the company ; 
and all goods in private trade are to pay to government 
the fame cuftoms as goods imported by the company on 
their own account. And inaiinuch as the allowance of 
three percent, and the rates of freight, will be infufficient 
to indemnify the company their actual charges upon pri¬ 
vate trade, the legiftature has exempted the company from 
aftions for Ioffes or embezzlements which a comm m car¬ 
rier might, in ordinary cafes, be liable by law to make 
good to the owner. But the aft provides, that the com¬ 
pany’s officers, and ail perfons through whole means or 
negligence any lofs fhall happen, (h li be liable to make 
it good to the owner; and it gives a further remedy to 
the owner, in certain cafes, to recover fatisfaftion, by 
enabling him to prolecute under the written engagements 
or fecurities taken by the company for the fate keeping 
of their own merchandize. All the laws prohibiting the 
import of goods from any other place than that of their 
growtn, and for continuing all prohibitory laws, in refpeft 
to the confumption or wearing of foreign manufactures 
are continued. See the article Navigai ion-Acts. 
6. All the old laws for pieventing clandeltine trade 
with India, and from lending to or aflilting, or being 
concerned with foreign companies, or foreign traders, are 
wholly abrogated ; and the following proviiions are fub- 
ftituttd in their place; obferving that the penalties are 
made co extend only to luch of iiis majelty’s iubjects as 
belong to Great Britain, Guernfey, Jerfey, Alderney, 
Sark, Man, Faro Ides, or to the colonies, ‘.hands, or plan¬ 
tations, in America or the Weft Indies; and that all vef- 
feis and goods forfeited, may be feized by any of the 
company's officers in India or China. Perlons going un¬ 
lawfully to India, and trafficking there, forfeit Ihips, vel- 
fels, goods, and merchandize, and double the value there¬ 
of : one-fourth to the informers, and three fourths to the 
company, they paying thereout the colls of piofecuciun. 
Perfons unlawfully going to India, fhall be deemed unlaw¬ 
ful traders, and lubjeft to the foregoing penalties and for- 
Vol IV. No. 24.6. 
88 l 
feitures, and may alfo be profecuted as for a crime and 
mifdemeanor, and be liable to fine and imprifonment. 
One moiety of the fine goes to the king, the other to the 
company, if they profecute, or elfe to any other informer. 
Perfons unlawfully reforting to India, may be feized and 
fent home for trial ; and on arrival, they are to give bail, 
or be committed to prilon. Pei 1 'on.s riifmiffed the fervice, 
or whole licences (hall have expired, if they continue in 
India, are to be confidered as illicit traders, and are m de 
fubjeft to penalties and forfeitures of goods, as fuch. 
Goods (flipped ciandeftinely, or fuch as are reurifted by 
the aft, and goods unfhipped at lea, fhall be feized and 
forfeited, with double the value, and the mailer, or other 
officer, knowingly permitting or (offering the fame, fhall 
forfeit all his wages to the company ; to be dedufted out 
of the monies payable to the owners, and be difabled 
from again ailing in the fervice. Any who fhall folicit 
for, or accept a foreign commiflion to fail to, and trade 
in, India, fhall forfeit five hundred pounds, half to the 
company, and half to the profecutor, or the whole to the 
company if they fhall profecute. All governors and coun- 
feilors are prohibited from trading, except for the com¬ 
pany ; and all collectors, fupervilors, and others employed 
in the revenues of Bengal, Bahar, and Orifla, or their 
agents, or any in truIt for them, are prohibited from in¬ 
land trade, except for the company. The judges of the 
fupreme court of judicature in Bengal, are abfolutely pro¬ 
hibited from traffic; and none without the permiffion of 
the company, (hall trade in fait, beetle-nut, tobacco, or 
rice, on pain of forfeiture of the goads, and treble the 
value, one moiety to the company, and the other to the 
profecutor. None (hall fend goods from India to the 
continent of Europe, by any other channel than as allow¬ 
ed by the act, on pain of forfeiture of double ti e value ; 
but this rellriftion is not to extend to matters of agency, 
only on the account bond fide of any foreign company, or" 
foreign >inerch ;nt. 
7. Appropriation ..—Firft, in India. The territorial re¬ 
venues are to be applied in the firft place, in defraying 
all charges of a ntiliia y nature. Secondly, In payment 
of the interell of the debts there already, 01 hereafter to 
be incurred.. Thirdly, In payment of the civil and com¬ 
mercial eltablilhments. Fourthly, In payment of not lefs 
than one million per annum for the company’s invefl- 
ments of goods to Europe, and remittances and inveft- 
ments to China ; and the lurplus, if any, is to be applied 
in the difeharge of debts, or fuch other purpofes as fhall 
be dnefted from home. The fum allowed for inveft- 
ments, may from time to time be increafed to the extent 
of tiie diminution made in the annual amount of the in- 
terelt of debts, which fhall be paid in India, or transferred 
home; for which transfer, provdion is made to an extent 
of five hundred thoufand pounds a-year, by bills of ex¬ 
change to be drawn upon the company ; and if the credi¬ 
tors fhall not fubferibe to that amount, other peffons may 
lubfciibe, and the money advanced by them for bills is 
to be applied in difeharge of fuch debts, and this rule is 
to be continued till the India debt fhall be reduced to 
two millions. The company may increafe thefe transfers 
home, but the governments abroad are rellrifted from 
exceeding the above amount without their orders. 
Second,y, at home. The net produce of the company’s 
funds at iiorne. after payment of current charges,- are 
thus appropriated. Firft, in payment of a ten per cent, 
annual dividend, on the prefent or any increafed amount 
of the capital flock of the company. Secondly, of five 
hundred thoufand pounds per annum to be fet apart on 
the firft of March, and the firft of September, half-yearly; 
and applied in. the difeharge of the before-mentioned bills 
of exchange, for the aforefaid reduction of the India 
debt. Thirdly, of a like annual fum of five hundred 
thoufand pounds to tlWexchequer, to be applied by par¬ 
liament for the ufe of the public, .and to be paid on the 
fiilt of January, and the firft of July, half-yearly, by 
equal jnltalmeftts. A nt >> lardy, the furplus may be ap- 
jo P plied 
