Court of Directors took up 5,000 tons of shipping to proceed to India for rice; and at the end of the year the Court, from a motive of further relieving the country from the dreadful effects of famine, the apprehension of it not having then subsided, engaged 5,000 tons more shipping to proceed to the Cape of Good Hope for wheat. The Court also sent orders to India, authorizing the Governments there to permit country ships to load home rice, allowing them to take cargoes from England in return. From an account made up on the return of the ships sent to India and the Cape of Good Hope, it appears that the Company lost by this praiseworthy measure, on rice imported from India £150,800; and on wheat imported from the Cape of Good Hope £27,469 forming a total loss of £178,296.

1796.-To strengthen the navy, guarding the eastern coast and north sca, his Majesty's Government applied to the Company for such of their vessels convertible into men of war as they had at home. In consequence of which, fourteen of their largest ships were transferred to the use of the state, and made into fifty-four gun ships; some of which afterwards fought in the line of the memorable engagement under Lord Duncan, and one (the Glatton commanded by Captain Trollope) beat off and defeated five ships of the enemy.

The Company gave notice that they would allow interest at the rate of 5 per cent. upon all their outstanding bonds, though bearing an obligation of only 4 per cent. except those ordered to be paid off.

1798.-In consideration of the services rendered by Lord Hobart, during the period he was Governor of Madras, the Company granted him a pension of £1,500 per annum payable out of the territorial revenues in India, to commence from the time of bis quitting the Government of that presidency.

1799. Oct.4.-The thanks of both houses of Parliament were voted to the Earl of Mornington, Lord Clive, J. Duncan, Esq. Lieut.-gen. G. Harris, Lieut.-gen. James Stuart, Major-gens. Floyd, Bridges, Popham, Hartley, and Baird, and to the officers and soldiers who had been in the field against Tippoo Sultaun.

Nov. 13. The thanks of a court of proprietors were voted to the same illustrious individuals and meritori

ous army.

1800, July. The ship Queen, Indiaman, accidentally burnt at St. Salvadore, Brazil.

Oct. 7. The ship Kent, taken by a French privateer, off the Sandheads, Bengal.

1800, July 20.-Act for the better administration of justice at Calcutta, Madras, and Bombay, and for preventing British subjects from being concerned in loans to the native powers.

July 28-Act establishing further regulations for the Government of the British territories in India, and the better administration of justice within the same.

As an acknowledgment and gratuity for the eminent services rendered by the Marquis Wellesley, the Company granted him an annuity of £5,000, to issue out of the territorial revenues in India, for the term of twenty years, to commence from 1st Sept. 1798.

1801, March 17.-Mr. Henry Dundas having intimated his intention of relinquishing the situation of president of the board of commissioners for the affairs of India, the court of proprietors, as a token of their estimate of his unremitting exertions to fulfil the duties of that office, voted him an annuity of £2,000.

In consequence of the high price of grain throughout the kingdom, the East India Company, with the concurrence and approbation of his Majesty's ministers, had sent out in August 1799, directions to their government in India to afford every encouragement to individuals to

send rice, and other grain to England; engaging that the ships so employed, should be allowed to carry out in return cargoes, as formerly allowed to country ships; and on the 30th Sept. in order to encourage as large an importation as possible before the next harvest could be got in, the court sent further directions to India, authorizing such ships as brought threefourths of their tonnage in rice, to bring also such other goods as are usually imported into this country, with an indemnification in case rice should be under certain prices on their arrival in England. They also offered to grant licences to any ships to be sent from England to India, for the purpose of bringing home rice, on very liberal conditions, but under the express stipulation that the ships should be cleared out from the Custom-house before the 1st Dec. 1800, or from any port in the East Indies before the 1st Sept. 1801. Large quantities of rice were in consequence imported from India, chiefly from Bengal; and between the months of June 1799 and August 1800, twenty India-built ships returned to India from the port of London, with cargoes of which the invoices amounted to £613,247 12s. 6d. and from the island of Madeira to £116,505 0s. 6d. and their repairs, outfit, and supplies in England to £202,877 12s. 3d.

was afterwards brought before parliament.

1802. In this year after much deliberation, a final arrangement was made for the regulation of the private trade between India and Great Britain. It was determined by the Company that in addition to the 3,000 tons of shipping allowed by the 33 Geo. III., a further quantity of 5,000, or as much as might be wanted, should be assigned, and which should not be diverted to political or warlike purposes, but should sail, laden with private goods only, within the fine weather season. Except saltpetre and piece goods, all articles might be laden upon them. Light and heavy goods were to be assorted by the Company's officer, and as the Company were answerable to the owners for the freight, they were to lade the ships, if private merchants declined. These ships were to be built either in England or in India.

1803, Jan. 11.-The ship Hindustan was lost in Margate Roads.

a

In this year was continued series of official communications between the Board of Commissioners and the Court of Directors, respecting the question, "whe"ther or not the English merchants "resident in India, shall be allowed "to send their goods to the port "of London in their own ships?" This renewed correspondence lasted from Jan. 28 until March 25. Finally, the Government and the Company agreed upon a temporary arrangement for two years.

1804. The splendid action of Capt. Dance, in repelling the French Adm. Linois, is mentioned in Table II.

The circumstance of so formidable a fleet, part of an armed navy, being defeated by a fleet of merchantmen heavily laden, was in an eminent degree honourable to the British naval character. The King conferred the honour of knighthood upon Capt. Dance; and the East India Company, with the

most liberal gratitude for the gal lantry and good conduct evinced by the commanders, officers, and seamen, voted the following sums : To Capt. Dance 2,000 guineas, and a piece of plate valued at 200 guineas.

To Capt. Timins, whose ship, the Royal George, bore the brunt of the action, being the leading ship, 1,000 guineas, and a piece of plate value 100 guineas.

To each of the other commanders 500 guineas, and a piece of plate value 50 guineas.

To the officers, petty officers, and seamen of the fleet, in the following proportions:

1805.-The Company's affairs being impeded by financial pressure from the operation of various causes, they applied to Parliament for the payment of a large balance, amount. ing to £5,570,336, stated to be due to them from Government on account of their advances for the public service in India. The account was referred to a select committee of the House of Commons, who reported, that after dividing the charges, &c. of the capture of Ceylon and the Eastern Islands equally between the public and the Company, deducting the ordinary expenses of the troops employed in Egypt from the gross charges of the expedition, and taking credit for the whole amount of charge against the Company advanced by

the Pay-office, many articles of which, the committee stated, were objectionable, there was a clear balance owing to the Company of £2,300,000. Of this sum £1,000,000 was paid to the Company on account; and in 1806 another sum of £1,000,000.

1806.-Act 43 Geo. III. cap. 126, institutes the East India Dock Company, with powers to make

docks and other works at Blackwall.

By act of 37 Geo. III. cap. 3, the Company were permitted to add £2,000,000 to their capital stock; of which power they did not avail themselves, preferring to borrow money upon bond as more advantageous to their concerns; they therefore applied to Parlia ment to enable them to issue bonds to that amount, and obtained the act of 47 Geo. III. cap. 41.

1808, April 26. The Com pany presented a petition to the House of Commons, stating that the embarrassments in which their affairs were involved had not originated in any improvidence or mismanagement.

In the course of the last and present war they had incurred various expenses for expeditions from the continent of India to the French, Dutch, and Spanish possessions in the Indian seas, and to Egypt under the instructions of his Majesty's Government; which expenses were advanced upon the reliance that they were to be fully reimbursed by the public; and different sums had at different times been issued in respect thereof: nevertheless, they claim that a large balance is still due on that account.

They were on the 1st March 1808 indebted for customs and excise £770,000; and upon an estimate of their pecuniary transactions, from 1st March 1799 to said 1st March 1808, their payments will exceed their receipts by £2,433,185, not including in the receipts any part of the sum due to them from the public.

The financial pressure on their treasury had been produced by a combination of causes, viz.

1st. The vast amount of the debt accumulated in India, and the high rate of interest it bears, the effects of which have been to intercept the surplus revenue, and to occasion large drafts on the home treasury for payment of interest on the said debts, as well as payments for political charges appertaining to the Indian territory out of the home funds.

2d. The very large sum advanced for the expeditions from India before-mentioned, of which part had been borrowed in India at a high rate of interest.

3d. The deterioration occasioned in their affairs by the war in Europe.

4th. The large supplies in goods and bullion sent out to India and China between 1802 and 1806, exceeding the returns.

5th. The comparatively small investments which were sent home from India during the years 1808, 1804, and 1805.

6th. Anterior to 1802, sums under the 4th head, and during a period of 10 years, 1797 to 1807, the advances from the funds at home, for supplies sent to India and China, and for sums paid in England on account of political and military charges appertaining to the Indian territory, have largely exceeded all the returns received in the corresponding period from the said countries, which are indebted to the home concern upwards of £5,000,000 sterling.

This petition was referred to the select committee, who reported that there was £1,500,019 owing to the Company, a doubtful balance of considerable amount being still left open for discussion. £1,500,000 was paid to the Company under the authority of Parliament.

1809-In this and the preceding year the Company sustained some heavy losses in their shipping, particularly in the homeward-bound

£11,706

ships from Bengal. The following is an authenticated list: Walpole, off Margate, value of cargo Admiral Gardner, on the Goodwin Sands Britannia, Company's own ship, including cargo.. 117,820 Travers, in the Bay of Bengal... 14,558

.....

37,897

63,468

12,470

1.1,875

Lord Nelson, parted, in company with the two next mentioned, from the fleet homeward - boundin Nov. 1808, in a violent gale of wind, not since heard of Experiment. Glory Calcutta, parted, in company with the three next.' named, from the fleet homeward bound, in March, 1809, in a tre-.. mendous gale of wind, not since heard of $138,915 Bengal.... .. 135,601 Duchess of Gordon.. .. 100,540 Lady Jane Dundas.. 51,316 Europe, taken and carrie:d, into Mauritius 154,398 Streatham, ditto ditto.. 154,502 Asia, lost in Bengal River 43,011

1810.-Act of 50 Ge o. III. cap. 114, authorized the Go vernment to issue Exchequer Bills to the amount of £1,500,000, for the use of the Company.

1811. The transfer of the debt owing in India, and 'bearing an interest there of frorn 8 to 10 per cent., had gone on in, rapid progression, and Governm ent seeing that the operation, though attended with temporary pressure, would be permanently beneficial to the Company's concerns, countenanced the great efforts ne cessary to complete the arrangement. Act of 51 Geo. III. cap 54, a athorized the Company to make a further issue of