has increased its debt above one hundred millions stering, this delinquent company wants but a little time to pay all it owes to the exchequer, or privilege to use its flowing credit? Will parliament, its its justice, forget, that at a former period, when its commerce was circumscribed, when it had not an empire to support, this delinquent company was allowed to issue bonds to the amount of three millions sterling, though now limited, at the close of an expensive and calamitous war, to the sum of fifteen hundred thousand pounds? These are circumstances which must be recollected, when we mean to violate private property--an injury which must cut every Englishman to the bone, and which nothing-but the strongest necessity fully and fairly proved, can ever justify.

The noble and learned lord has mentioned the depopulation of fertile provinces in India, the expulsion of a king from his palace, and the cruelties exercised upon an old woman. These, my lords, are sounding words; but I call upon the noble and learned lord to prove the facts.

It is something singular, that when the character of Mr. Hastings is thus held up to public detestation. his name should be cautiously suppressed. Whence, my lords, this remarkable degree of delicacy towards Mr. Hastings? If he is a desolator of provinces, if he is a plunderer, and an enemy to the human race, let him be punished for his crimes; but let the facts be proved.— The little, low, dirty attempts of malice and faction, which have been long employed to destroy the character of that great man (as I think him), can have no weight with your lordships. How industriously, my lords, has every transaction of Mr. Hastings's long government, that could tend to criminate him, been circulated! The reports of a committee have been sold as pamphlets.-The ingenuity of some men, the industry and warm imagination of others, have been long employed to sully the well-earned reputation of Mr. Hastings. To my mind, my lords, Mr. Hastings is one of the most extraordinary characters this country has ever produced. He has served the East-India company thirty-three years in the most important situations, twelve years as governor or governor-general of Bengal. He is a man, my lords.

whose integrity, whose honour, whose firmness of mind, and whose perseverance, are not only very generally acknowledged in this kingdom and in Asia, but throughout the continent of Europe. He is a man, my lords, who possesses a most extensive knowledge of the languages, the politics, the customs, and the revenues of Indostan. He is a man, my lords, who infused the spirit which animated his own mind, and rose superior to the astonishing difficulties he had to encounter, into the breasts of our brave and intrepid countrymen who have so nobly distinguished themselves in Asia. Mr. Hastings, my lords, is a man who has re-established peace in India, who furnished resources for the war, while it lasted, by an increase of revenues in Bengal, and has preserved the provinces under his more immediate controul in peace and tranquillity. Mr. Hastings is a man, my lords, who has held a bold and consistent language throughout. When the government of this country sent three men to thwart and to oppose all his measures, he desired either to be recalled or confirmed. Would to God those men had never arrived there! When I consider the scene of confusion that ensued, the factions, personal and party spirit, by which they were actuated from the very hour of their landing, I am astonished that Mr. Hastings has been able to surmount so arduous a trial. What have been the means, my lords, to which Mr. Hastings has had recourse to preserve his power? Has he employed the low and dirty arts of intrigue, which have heretofore been practised?

No, my lords, he has been supported by the voice of the public, by great and meritorious actions! This being my opinion of Mr. Hastings, I shall support him until evidence of his delinquency shall be produced. Whence, my lords, this extreme desire to avoid a full and pure discussion of this question? I again repeat it; if Mr. Hastings is guilty, recall him, punish him; but do not, my lords, let us be deluded by tales fabricated for the purpose of the hour, and circulated with a degree of industry which disgraces the honour and dignity of the British nation. I cannot help adding, my lords, that, to my mind, the late dispatches from India contain such convincing proofs of the vigour of our government in Bengal, of the regulations formed for the collection

of the revenues, and the administration of justice, throughout the provinces, added to the economical arrangements, formed in the civil and military departments, that I do believe it will not be in the power of any clerk in office, that Mr. Fox's directors may send out, to throw Bengal into confusion again in less than two or three years.

LII. Mr. Fox, on East-India affairs.

I AM really surprised, that notwithstanding the variens objections that have been stated to this bill, on a former day, I find myself this day attacked upon a ground which I had least expected. The violation of charters, the despotism and oppression of the bill, were topics which I apprehended would have been principally dwelt on this day: but I find that these grounds are nearly abandoned, and that now I am to be attacked on that side where I felt myself most strong: yet I will confess that I am sorry I am so strong there, for my strength must be founded on the weakness of the company. It was an old and a politic custom with ministers, in talking in parliament in the time of war, of the strength and resources of the different bodies of the community, to describe them as if they were in the most prosperous and flourishing condition; and perhaps I should myself conform to that custom, if the country was now involved in war. The situation of the country, however, is such, as would not now allow the practice of those deceptions. We could only assist the nation, by knowing and declaring what the amount of its distress was. Had not this been the case; had not the most urgent necessity impelled, I never would have brought in such a bill as that under discussion. bill was a child, not of choice, but of necessity. In like manner the answer I was about to give to the directors state of the company's affairs, was not a matter of option, but a matter which I could not avoid, in justice to the company,-in justice to myself, and, in justice to the world. I assure the house at the same time, that though my defence must arise from that weakness, I wish

The

most sincerely that I had no such ground of defence; the weakness of a company so connected with the public, is not a theme which can afford any satisfaction: but as I would state my reputation on the necessity of the measure I proposed, so it affords me, as far as my character is concerned, some satisfaction, that I can find in the company's own accounts, substantial proofs of the necessity of a parliamentary interposition. But I confess, that while an honourable and learned gentleman, who sits opposite to me now, and who is likely to do so on all occasions, [Mr. Dundas, the late lord advocate of Scotland, who sat on the opposition side of the house, close by Mr. Pitt,] and other honourable gentlemen in this house, could be appealed to as evidence of the alarming state of the affairs of the company, 1. had not imagined that any long or elaborate proof, that they were not in a prosperous condition, would be necessary. Gentlemen will find that there was no occasion for them to lament, that the account which had been delivered in at the bar, by the East-India company's accountant, had not been read by the clerk, as I shall, in the course of my speech, be obliged to touch upon most of the points that it contains. In this account L find many things inserted which ought to have been omitted, and many things omitted which ought to have been inserted.Through these insertions, and these omissions, the company's affairs are made to appear in a much more fa yourable point of view, than I believe they will be seen in, when I shall have stated the different exceptions that I have to their account: but I beg leave again to call to the recollection of the house, that I did not stand pledged to prove that these were actual errors in the account. It might be regularly calculated, and the sums very properly cast up. I do not venture to say that there are positive falsehoods in the statement; all that I said, and all that I pledged for, was, that I would state rational objections to articles in this account, to the amount of more than twelve millions. These objections may not convince the house-they convince me. I beg that gentlemen will go along with me in the statement, and put down the articles as I enumerate them; for in so complicated a matter, they cannot follow me with memory.

The first article in the account, held out as the pro. porty of the company, is 4,200,000%., as the debt due to the company from government, at three per cent. interest. To this article I do not object: but I must make this observation; that this sum is to be considered as property held in the funds of the country, as not other. wise available to the individual than in respect to the annual interest, for there is no obligation of payment; they could not force the production of it; they could not make government come to a settlement with them; but they stand exactly like the other creditors of the public, secure of the interest, but not armed with powers to come when they please at the principal.

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observation too occurs on this. They take and state this sum with evident error. Surely it is no otherw.tys to be estimated, than as they can carry their stock to market. They are not to set it down in this statement of their property at the nominal amount, but at the marketable value of the commodity. The marketable value of the commodity is three-fifths of the nominal value, and at no more ought they to have stated this sum of property, because for no more is the principal avail able in their present circumstances. It is very true, that this money was to be repaid to the company, if govern. ment should ever put an end to the monopoly which the company enjoyed of the trade to India. In that case, the full sum of 4,200,000/. must of course be paid; but as the money was lent, and that government was never to repay the principal, if they chose, while they conti nued the monopoly, I must say, it was not so very fair to state the sum lent at the full value of 4,200,000!. : for if the monopoly should, in any case, be annihilated, without the will of government, then the money could not be called for; and if the company wished to sell their interest in that loan, which was sunk in the three per cents., they would of course dose about two-fifths of the whole; and therefore the account should, in candour, have stated, that towards paying their debts, they had in the three per cent. stock a property that would sell for 2,520,000l.

The next article is of a very singular. nature indeed, and gives the house a specimen of the principle on which