No. I. I take them from the fuppofed return of peace at only 5,550,000l. But then, if you fuppofe a reduced amount of fales, you muft, at the fame time, fuppofe a proportionable reduction of the fum neceffary to be provided for prime. coft of the goods, which, in that refpect, and in the amount of commercial charges of every defcription, adds facility to the execution of the plan; and although it takes fomething from the rapidity of fuccefs, does not take from its ultimate certainty or importance. The refults of thofe data are pointed out in the account fubjoined, No. VI. It may, probably, be obferved, that the account, No. I. proceeds on the fuppofition of a continuance of peace, during the whole term of your charter, a period of not lefs than thirteen years. The obferva tion is juft, in point of fact; but I am not apprehenfive of having the merits of my propofition tried on other data, and the utility of carrying it into execution will ftill reNo one, howmain indifputable. ever anxious in his difpofition, how ever unfavourably inclined he may be to contemplate future profpects, will conceive me fanguine, in fuppofing that, if fortunately the war fhould be terminated in the prefent year, by an honourable and adequate peace, after a conteft fo long and fo exhaufting to all the bellige rent powers with whom we are engaged, there may be a ceffation from hoftilities for the short period of feven years; and if that takes place, it gives time for the extinc. tion of the Indian debt, which is the great and primary object of my fuggeftions and if, at the end of that period, there fhould be a renewal of hostilities, that fhould continue even for the whole period of the charter, it would not anpihilate, : .85 and very little impair, the refult of war amount. Thefe propofitions will be beft understood by putting them into fi. gures, as I have done the others; and I have therefore prepared two accounts, No. VII. and VIII. of the Appendix, one upon the fuppofition of an investment of four millions of prime-colt, and feven millions four hundred thousand of fales; the other, on the fuppofition of three millions of prime-coft, and five millions five hundred and fifty thousand of fales; and upon the examination of these accounts, you will perceive how little ground there is for your being difcouraged from eagerly adopting the propoftion I am enforcing, even in the worft view of the refult that the moft timid imagination can fuggeft. I will not trefpafs longer on your patience. After the most mature con. F3 fideration J 7 7 7 7 APPENDIX. No. I.—ESTIMATE, fbewing what may be the Situation of the Cab Concerns of the EAST-INDIA COMPANY, in England, at £ £ the Conclufion of their Charter, calculated on the following Principles, viz. Supposing the Prime Coft of the Investments from India and China to 930590 1339816 2126042 3759758 5540994 6422220 7403446 5984672 826589810747121322825015709576 18190802 1801-2. 1802-31803-4. 1804-5. 1805-6. 13c6-7. 18c7-8. 1808-9. 18c9-10. 1815 11 1811-12. 1812-13. 1813-14amount, annually, to Four Millions, and the Sales to yield 7.400,000l.; that after the first Year, the Surplus from the Territorial, &c. Revenues fball amount to One Million, and gradually increase, by the Intereft on the Debt, (to be extinguished,) c. till it amounts to Two Millions, the Prime Coft of the Investment being paid from the Surplus Revenue, and from the Proceeds of the Sales; reckoning on an Addition to the Capital Stock at 7400000 7400000 7400000 7100000 700000 7400000 400000 400000 7400000 7400000 7400000| 7400000| 7400000|| 500,000l. or One Million Sterling, annually, for Four Years; the Charges in the First Year taken on a War, and in the following on a Peace Eftablishment reckoning, like wife, on the Liquidation of the Indian Debt, at Intereft, taken at Fourteen Millions, fo that by the Year 1808-9, it shall be reduced 10 4,500,000l.; and finally, shering the Proceeds, without noticing what may be the Amount for the Participation of the Public. f RECEIPTS. Balance of cafh Sales of goods Profit on private trade Intereft on annuities Loyalty loan New capital 120000 120000 120000 36226 120000 36226 1000000 36220 1000000] Total receipts 9791816 989604210682268 1231599413097220 13978446 14959672 13540898 1582212418303350 20784576 23265802 25747028 F 7 7 £ 705000 Charges extra 390000 Freight extra 100000 100000 100000 Payment of Indian 1000000 debt 100000 100000 100000 1000000 1000000 1000000 1000000 1000000 3500000 PAYMENTS. Customs Freight 4000000 3000000 2900000 2700000 2600000 2500000 2400000 2200000 2000000 2000000] 2000000 2000000 2000000 915000 100000 100000 Captains of fhips, &c. Total payments 8455000 7770000 6922500 6775000 6675000 6575000 8975000 5275000 5075000 507500c 5075000 5075000 5075000 Balance remaining - 1339816 212604 3759768 5540994 6422220 7403446 5984672 826589810747124 13228350 15709576 18190802 20672028| 9794816 9896042 10682268 12315094 13097220 13978446 14959672 13540898 15822124 18303350 20784576 23265802 25747028 Total N. B. The above Eftimate is framed on the Suppofition of Peace after the first Year. The Calculations are made without Reference to the Rates of Exchange, or the Price of Bullion. Some Variation may be expected as to the precife Year in which the Debt would be reduced to the intended Limit. It may take place partly in the Year 1807-8, and partly in 1808-9. APPENDIX. No. II.-ESTIMATE, fbewing the Surplus that must be produced in INDIA, in order to effect the Purpojes laid down in the general Eftimate. APPENDIX. No. III.-ESTIMATE, fbering the Reduction of the Debt in INDIA, calculated at Fourteen Millions, bearing Interest, by the annual Application of One Million. N. B. If the Debt at Intereft is reduced to 4,500,000l. and the Rate of Intereft to Six per Cent.; the Intereft then payable would be 270,000l. in which cafe the Saving would be 955,000l. The above is exclufive of the Amount required for the Commercial Charges, not added to the Invoices. Do.-1806-7 Do.-1897-8 Decennial Loan The Intereft calculated to remain payable on the Debt reduced to 4,500,000l. is 350,000l. which may be reckoned at about 7l. 15s. 6hd. per Cent. The faving of Intereft by the Reduction is 875,000l.; but if the remaining Debt were to be at Six per Cert. the faving would be 955,000. 1000000 787500 87500 Do. 1807 1808 4500000 350000 APPENDIX. No. IV. ESTIMATE of REVENUES and CHARGES at each Prefidency in INDIA, and Total Amount of Net Surplus to arife in the first Year of Peace, on the Suppofition of the Revenues continuing to produce as eftimated on the latest Materials received from India, and of the Charges being regulated according to the last Infructions, and diftinguishing by what Amount, and on what Grounds, the feveral Charges are expected to be reduced below, or increased above, the Estimate for 1800-1. REVENUES. BENGAL. At as, the Current Rupee. The estimate for 1800-1 makes the total revenues - £.6339200 In this, the fubfidy from Oude is taken at 964 lacks of ificca rupees; but Marquis Wellefley ftates the full fubfidy at 115 lacks. The arrangements were not completed when the estimate was made, the difference may therefore be added, being ficca rupees 184 lacks, or CR3 2146000, at 25. 214600 The opium, in the estimate, is faid to be taken as laft year, but is, in fact, 34000l. more. The fale in 1799-1800 was extraordinarily productive; and although fome addition in the quantity was expected in 1800-1, it seems prudent, for a continuance, not to take it at a higher fum than last year's fales. Deduct therefore As the other articles of the estimate do not feem liable to objection, the Bengal revenue may be calculated at 6553800 CHARGES. BENGAL. At 25. the Current Rupee. The charges in the estimate for 1800-1 are stated at E-4422000 In there are included the expence of military flores, at an amount far exceeding the average of former years; and it is prefumed a reduction may in future take place of £.20000 Allo the temporary expence of repairing the fortifications at Futty Ghur, in confequence of the treaty with the vizier 30000 A further fum might be deducted, on account of the expence of building the new government house, eftimated at 34000l. which cannot be a permanent charge: but as the military expences are rather below the probable amount, when the arrangements for Oude are completed, this may be set against it. |