8 P2 C O M I 
plied in the mbps fpeedy reduction of the India debt, till 
reduced to two millions; or in difcharging debts at home, 
fo as not to dimir.ifh the bond debt below one million five 
hundred thoufand pounds. Subject to thele appropria¬ 
tions, and after the debt in India is reduced to two mil¬ 
lions, and the bond debt at home to one million five hun¬ 
dred thoufand pounds, one-fixth part of the ultimate 
furplus is to be applied to an increafe of dividend of the 
capital flock, and the remaining five-fixths is to be made 
a guarantee fund, or collateral fecurity for tire company’s 
capital flock, and their dividend of ten per cent, until 
fuel) fund, by the monies paid by the company, and the 
intereft thereof, fhali have amounted to twelve millions ; 
and after that time, the faid five-fixths of the furplus is 
to belong to the public in full right. Thefe five-fixths 
are to be paid into the bank, and laid out in the pur- 
chafe of redeemable annuities, in the names of the com- 
miffioners for the reduftion of the national debt, who are 
alfo to receive the dividends, .and lay them out in like 
manner, until twelve millions have been inverted. That 
being accomplilhed, the annual dividends of the flock 
purchafed therewith, are, in the firfl place, to make good 
any defalcation in the company’s revenues, to pay the 
ten per cent, dividend, and fubjeft thereto, thole divi¬ 
dends are to belong to the public. If on the company’s 
exclufive trade being determined, their own atl'efs (hall 
prove infufficient to make good their debts, and alfo their 
capital flock rated at two hundred pounds per cent, the 
excels of fuch guarantee fund is to make good the defi¬ 
ciency, as far as it will extend; and in the event of the 
company difeontinuing their trade altogether, the excels 
is to beiong to the public. But if the company' fhali con¬ 
tinue to trade with a joint flock, then the overplus, and 
the- annual dividends thereof, are to remain as a like 
guarantee for a dividend often per cent, and for the ca¬ 
pital rated at two hundred pounds per cent, as long as 
the company dial 1 trade with a joint flock; but fubjeft 
to the making good any fuch deficiencies, the faid fund 
is to be deemed the property of the public. If the bond 
debt at home, or the debts abroad, after being reduced 
to the fums before limited, fhali be again increafed, the 
former appropriation is to be revived until thofe debts 
fhali be again diminifhed to their refpeftive ftandards be¬ 
fore limited. Any deficiency in the funds to make good 
the five hundred thoufand pounds to the exchequer in 
■any year, is to be made good in the exceiTes of fubfequent 
years; unlefs it happens in time of war,, or by circum¬ 
stances incidental to war; in which cafe the deficiencies 
are not to be carried forward as a debt on the annual 
funds of the company, nor to be brought forward as a 
debt to be paid by the company, unlefs only in the event 
of their alfets, on the conclufion of the exclufive trade 
affording more .than fuflicient to make good the capital 
flock rated at two hundred pounds per cent, but any ex¬ 
cels of fuch alfets beyond that amount, is liable to make 
good the deficiency of any fuch payments to the public ; 
no interert is to be computed in the mean time on fuch 
deficiency. The fecurities given by the calibers of the 
bank, are to extend to the monies they may receive un¬ 
der this aft, and the treafury is to direft the allowances 
for management; and if the company make default in 
any payments,' dire6Ied by the aft, they may be fued, 
and fhali pay fifteen pounds per cent, damages, with cofts 
of fuit- The ftatute directs the manner in which receipts 
fhali be given; and a power is lodged in the treafury, to 
give the company further time for payment in cales of 
exigency. And it is declared, that neither the claims of 
the public,-nor of the company, to the territories in In¬ 
dia, fhali be prejudiced by the ftatute, beyond the pro¬ 
longation of the term in the exclufive trade. The ftatute 
alio contains a claufe of mutual acquittal of all out-ftand- 
ing demands between the crown and the company, to the 
2.4th of December, 1792. The ftatute recognizes the 
rights of the company to a fum of four hundred and fixty- 
ieven thouliind eight hundred and ninety-fix pounds ie- 
5 A N Y. 
ven (hillings and fourpence in money, and nine thotifan d 
feven hundred and fifty pounds It a:; India flock, (which 
fums conftitute the feparate fund of the company, efta- 
blifhed under the aft of 178; ) and it is obferved, that it 
will be more for t*he gen< t..i intereft of the company to 
continue that money employed in trade, computing an 
intereft upon it. and to 0 ake it a fund for a permanent 
inc'reafe.to their dividend of ten (hillings per cent, than 
to draw it from their trading capital for any hidden dif- 
tribution. And it then authorizes and limits the com¬ 
pany to make a dividend from this Separate fund, and 
the intereft Lhereof, after the rate of ten (hillings percent, 
per annum during their further term in the exclufive 
trade ; and at the end of the term, it gives them a power 
of difpofing of the remainder of this fund as they fit all 
think fit. '1 he company are not to grant any penfions 
or new falaries beyond two hundred pounds per annum, 
to any one penon, without the confent of the board of 
controul; and they are lo lay before parliament annually, 
a lilt of all their eftablilhments abroad and at home, in 
which ail penfions and new falaries are to be particularly 
noticed ; anti alfo complete accounts of all their affairs, 
receipts, and outgoings, of the preceding year, with efti- 
mztes for the following year. 
8. The ftatute gives a right of fuing by aftion, bill, or 
information, in any of the courts of Weftminfter, (in 
which cafe the venue is to be laid in London or Middle- 
fex,) or in the fupreme court of judicature in Bengal, or 
the mayor’s court at Madras or Bombay; and in fuch 
fuits the legality of ftizures of perions, Ihips, or goods, 
is made cognizable. In cafes of mifdemeanors, the of¬ 
fer, dvrs-are punifliable by fine and irapiilbn inept, and if 
abroad, they may be fent home, as part of the punish¬ 
ment ; and a capias, for arrefting the accufed party, is 
given in the firit inltance, which may be compounded for 
by bail. For fecuring to the crown the duties for goods 
unlawfully trafficked with, in the cafes of forfeiture of 
goods, the attorney-general may profecute the offenders, 
or their partners, by bills in a court of equity, waving 
penalties, and the defendants fhali make full difcovery 
of their illicit traffic upon oath, and fftall be decreed to 
pay all the duties thereupon to government, and thirty 
pounds per cent, on the value of the goods to the com¬ 
pany, and (hall be relieved againft all other forfeitures. 
The company may, in iike manner, proceed againft of¬ 
fenders by bill in equity, aiid if they fail they (hall pay 
cofts. Defendants are to pay cofts to the crown and to 
the company, when the decree (hall be againft them. 
Other uliial regulations are made as to informers, plead¬ 
ing, &c. 
9. The jurifdi'fti'on of the fupreme court of judicature 
at Fort William, in cattles of admiralty, is made to ex¬ 
tend to the high leas at large; whereby a defedt in 13 
Geo. III. c. 63. for constituting that court, is cured. For 
in creating the number of magistrates in Bengal, Madras, 
and Bombay, the fupreme court of judicature in Bengal 
is to iflue commiffions of the peace, in purfuance of or¬ 
ders ilfued in council for that purpofe ; and any of the 
juftices, fo appointed, may by order in council, fit alfo 
in the courts of oyer and terminer, taking the oaths of 
juftices in England, (excepting the oath preferibed by 
the aft of 18 Geo. II. relating to qualification.by eftate.) 
The proceedings and judgments of juftices may be re¬ 
moved to the court of oyer and terminer by certiorari, 
but cannot be fet alide for want of form but on the me¬ 
rits only. The juftices may alio affbeiate with the judges 
iu caufes appealed, when called upon fo to do. The go¬ 
vernments abroad may appoint coroners to take inqueft's 
upon the bodies of perfons coming to an untimely end, 
and appoint fees to be paid tor that duty. The juftices 
of the peace may appoint Scavengers, and raife money by 
afieffments for cleanfing, watching, and repairing, the 
ftreets of Calcutta, Madras, and Bombay; they may alfo 
licence hovlfes for retailing fpirituous liquors, and fix the 
limits of thofe towns; and none are to retail Spirits but 
fuch- 
