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The Chairman was proceeding to the business of the day, when he was interrupted by

Mr. Hume, who said, he had asked a question, which, he hoped, would be considered a fair one, and that an answer would be given to it.

The Chairman" What is the question ?""

Mr. Hume said, a gentleman who had received three, four, or £500 a-year, while actively employed, was now, after a service of twenty years, placed on the superannuation list. As this gentleman, in all probability, entered when he was not more than fifteen years of age, it became a matter of question, how far it was prudent in the court of directors to suffer him to retire, after twenty years service He alluded to a gentleman of the name of Ramsay.

The Chairman" Mr. Ramsay retired a consequence of great infirmity of body, proceeding from ill health; he, therefore, came within the description of that class of persons, to whom, by the act of parliament, the directors are empowered to grant allowances and superannuations, when just and proper cause is shewn for their interference."

Mr. Hume said he was satisfied. He saw that Sir James Cuninghame retired on a pension of £750 having long filled the situation of inspector of military stores. This was one of the most important departments in the Company's system, and yet he understood that the fndividual who was now to superintend it was to receive only £600.

This was

most extraordinary, when a keeper of warehouses was to be paid twelve or £1500 a-year. He asked, whether there was prudence or justice in directing that an officer of so much importance as the inspector of military stores should only have a salary of £600, while the keeper of a tea-warehouse received twelve, fifteen, or £1700 ?

GRANTS FROM THE FEE-FUND.

The Chairman-"I beg leave to acquaint the court, that it is made special, in pursuance of the advertisements of the court of directors of the 3d and 10th inst., respecting the fee-fund, the payments made, and proposed to be made, therefrom; and also, to lay before the proprie tors sundry resolutions of the court of directors on the same subject, which will be submitted to them for their approbation. The papers relative to the fee-fund have been for several days on the table, open to the inspection of those gentlemen who might think fit to consult them."

The clerk then read the resolution of the court of directors of the 3d of Dec. 1817, as follows ;—

"At a court of directors held on Wednesday, Dec. 3, 1817.

66

A report from the joint-committee of correspondence and accounts, dated this day, being read, stating, that the Company's standing-counsel has given it as his opinion, that the money, constituting the fee-fund, must be considered as cash be longing to the Company, under the provisions of the 53d Geo. III. cap. 103, sect. 49; such grauts, therefore, as are made from it, require the approbation and confirmation of two general courts of proprietors. The committee, therefore, recommend, that there be laid before the court of proprietors-1st, an account of all pensions, exceeding £200, payable wholly, or in part from the fee-fund, together with the amount which the court of directors would have been enabled to give, if the superannuation clause of the 53d Geo. III. had been in existence when the grants were made;-2d, an account of all new or increased salaries, amounting to more than £200, and payable wholly or in part from the fee-fund, in conformity with the by-law, cap. VI. sect: 19;-3d, an account of the capital of the consolidated fee-fund, with the sums chargeable on it, distinguishing salaries from pensions, made up from the 30th of April 1817 to the latest period. It is submitted to the court of directors, that they ought to call on the proprietors to approve of those items, in which it appears that an excess above £200 has been granted by way of pension. Also, that they do grant the sum of £4,000 per ann from the general fee-fund for the benefi of the widows and children of the house and warehouse servants, to be paid halfyearly; the first payment to be made on the 30th of April next, in conformity with the court's resolution of the 8th of April, 1816. Also, that the sum of £600 per annum from the Company's cash, for the same purpose, be continued to be paid, in conformity with the court's resolution of the 8th of April, 1816. But the committee are of opinion, that both the grant of £600 from the Company's cash, and of £4,000 from the fee-fund, should be submitted to the general court for their approval and confirmation.

"Resolved, that this court do approve the said report."

"At a joint-committee of correspondence and accounts, held on the 3d of Dec. 1817.

"The attention of the committee hav ing been called to the origin and constitution of the general fee-fund, they had entered into the subject, and examined the different grants made since its formation. In the course of this inquiry, they became convinced, that doubts might be entertained, whether the operation of the 53d of Geo. III, might not be applicable to

the fee-fund. They, therefore, required the opinion of counsel, and learned from them, that the fee-fund ought, under the provisions of that act, to be considered as part of the Company's cash, and therefore, that all grants of pensions above £200, or of gratuities above £600, formed wholly, or in part from the fee fund, required the approbation and confirmation of the court of proprietors.

"Heretofore your committee thought the court of directors had a right to make grants from the fee-fund, without the intervention of the court of proprietors, or of the board of commissioners for managing the affairs of India. Nor could it be considered extraordinary that such a feeling should prevail, when it was recollected how long the principle had been acted

on.

The custom of receiving fees is of most ancient date, co-existent, indeed, with the formation of the Company. In almost all offices, the taking of fees for attention shewn in facilitating business, has been admitted. These fees, when restrict ed within the bounds of moderation, were not objectionable. In some instances, the government had abolished them, and reduced them in others. At various periods, the court of directors had established tables of fees, and one of them could be traced so far back as May 1724. The court then authorised fees, denominated lot-money, which formed a very large fand; and they also authorised various fees in the warehouse department. They did not think it necessary to revise the system till May 1784, when they examined the nature of the fees, and also the amount received. On the 4th of Feb. 1789 an alteration took place. It was fouud, that under the then existing system, some persons received very large sums, quite disproportioned to their services, while others received very little; the court of directors, therefore, thought it necessary to take the fees into their own hands. They formed what was termed the warehouse contingent fund, and the payments from that period were made under the authority of the court. On the 12th of March 1802, and on the 3d of April 1803, other alterations were made. When the lot-money had increased from the privileged and private trade, all the fees received in the warehouse department were paid to the Company, and certain officers' salaries being deducted, the remainder was thrown into a general fund, which afforded to the directors an opportunity of granting relief to the families of such of their servants as required aid. The different fees now taken were thrown into one common fund. The principal fees were a fee on packing, oue-quarter per cent. on the sale of privileged goods; fee from persons going out to India ;fee from tradesmen settling their ac

counts;-fee on the sale of old and new goods;-fee on bond of indemnity and charter-party-and several other items of a minor nature." The committee then recommended the court of directors to lay before the general court, the three documents which have been already mentioned in the resolution of the court of directors, of the 3d Dec. 1817.

The resolution of the court of directors, and the report of the joint-committee of correspondence and accounts having been read,

The Chairman laid before the court the three accounts alluded to, namely,

"An account of all pensions, exceeding £200 per annum, payable wholly or in part from the fee-fund.

"An account of all new or increased salaries, exceeding £200 per annum, payable wholly or in part from the fee-fund.

"An account of the capital of the consolidated fee-fund, with the sums charged upon it, to the latest period. By the last document it appeared, that the balance of the consolidated fee-fund, on the first of Nov. 1817, was £173,658. 11s. 10d.

The Chairman moved, "that the court do approve of the resolution of the court of directors, of the 3d of April, 1807, granting to Mr. G. Dominicus, late Company's husband, a pension of £650 per annum-£150 from the Company's cash, and £500 from the fee-fund, subject to the confirmation of another general court."

Mr. Hume said, he was satisfied, from the perusal of the documents which he had the opportunity of seeing in that house, that every one of those grants was strictly proper. Had the directors come forward, at the time those grants were made, this court, he was quite convinced, would not have objected to them. Haring observed this, it could not be supposed that he wished, at the present moment, to oppose them. He was desirons, however, to say a few words on the subject of the fee-fund, having originally introduced it to the notice of this court. An impression had gone abroad, probably in consequence of what had fallen from him in a former court, that this money was made use of by the directors for private purposes. He never intended to express, nor had he ever expressed, such a

sentiment; and therefore he conceived some explanation was necessary. He did, indeed, use an expression that was ordinarily applied to personal property. He designated the fee-fund as pocket-money. But all he meant to convey by that expression was, that it was so much money, which the court of directors assumed the right of appropriating and voting away, without the sanction of the proprietors. He never had the smallest intention of insinuating that they bestowed it impro

perly. (Hear! hear !)-He was perfect ly satisfied with the measures that had been taken, in consequence of the feefund having been brought under the consideration of the court. The counsel who had been consulted on this subject coincided with him in opinion, that the court of directors had no right to appropriate sums, beyond the amount of £200, to any object, whether such sums were drawn from fees or from any other source whatever. All those fees, which weighed down commerce, and operated unfavorably to their own trade, especially, ought to be removed. It was a contradiction to all just principles of commerce, that any person having occasion to deal with the Company, should pay a heavy tax, in the shape of fees. Feeling this subject to be of vital consequence, he should, at a future period, move that all fees which tended to cramp and injure their commerce shall be discontinued. He observed, amongst the items which formed this fund, that owners of ships, on being employed in the trade, were obliged to pay a cousiderable sum. No persons could be astonished at the great freight individuals demanded from the Company, when they considered the enormous delay and expense to which those individuals were subjected in their dealings with them. Surely, if they wished their trade to proceed prosperously and profitably, they would endeavour to reduce the expenses of every man who was anxious to deal with them. Looking to the great advantages they possessed with respect to credit and capital, every man would deal with the Company ten per cent. cheaper than he would with any other persons, provided they took off those bars to their prosperity. Every trader, in dealing with them, knew that his bill would be paid when it became due, on the moment, as regularly as if the transaction had been with the Bank of England; and, therefore, to render that advantage more striking, the whole of those oppressive drawbacks ought to be removed. There were also other charges, which, in a national point of view, ought to be taken into consideration. It was of great importance, that London should be nade the emporium of eastern commerce. The Company had Europe now combatting against them, and every charge, bearing heavily on the merchant, ought to be discontinued. The Company had immense warehouses, which might be turned greatTy to their advantage. They could not compete with the private traders to Bombay, Bengal, and Madras, under their existing system. They possessed a great number of extensive warehouses, which would be thrown useless on their hands, a dead expense, unless they could contrive to make it worth the while of the private merchants to use the Company's ware

houses instead of their own.

He made

this remark, because there was oue-quarter per cent. post-charges in London, which had the effect of driving a great deal of the London trade, to Liverpool. In Liverpool the trade was doubling yearly, because the charges, compared with those of London, were nearly one-half less. He did not mean to object to any one of these grants, and would not detain the court longer than to express his surprise, that a pepper warehouse-keeper, should, while in office, receive from £1500 to £1700 per annum, and had now a peusion of £600 a year. In conclusion, he had only to observe, that if the resolutions granting the sums specified in the account now before the court, had been laid before the proprietors when they were passed by the court of directors, the general court would have most cheerfully agreed to them.

The Chairman-" I am very glad that the hon, proprietor has noticed a calumny, which, I believe, for the first time, has been insinuated against those within the bar. He has given a fair explanation of his former assertion, and I thank the hon. proprietor for his candour. I am quite sure, that none, save those who are unacquainted with the executive body, could for one moment suppose, that they would make use of any funds intrusted to them for a selfish or unworthy purpose.~ (IIear! hear!)-With respect to the fees which the hon. proprietor has alluded to, I have merely to observe, that they have existed for a very long period indeed. One of them can be traced so far back as the year 1724; the others are even of far more remote date. The hon. proprietor says, it is impossible for us to compete with the private traders to Bengal, Madras, and Bombay. This, it should be observed, is a matter of opinion, and still to be decided; but I confess myself to entertain a very different view; and believe that many other persons think as I do. The hon. proprietor has noticed the increase of the trade of Liverpool. That port, I understand, possesses great advantages over London, because the portcharges there are much less; but the hon. proprietor must know, that the port charges are not under our control, more than the law of the land is. Whatever those charges are, we must submit to them they are local charges, and it is not in the power of the Company to remove them."

Mr. S. Dixon was exceedingly glad that he attended the court, because a degree of information had been given, not only to him, but to the whole court of proprietors, as to the amount of pensions grauted out of the fee-fund, to those who had served them long and honestly. It was a satisfaction to see, in the list of allow

ances to those persons who had retired, that their length of service had been great indeed. Some of these had toiled for the Company for upwards of forty years. To that description of persons, the publication of the allowances granted by the Company could not be too extensive or too general. As to the manner in which their trade was to be carried on in future, he conceived the proprietors might safely trust that important point to the executive body, who, from the knowledge they had acquired, and the experience which they must have had before they became directors, fully convinced him, that not one of them would be asleep, when the interests of the Company called on them for the exercise of the most vigilant attention. With respect to the probability of the East-India Company suffering, in consequence of the facility with which other towns in the kingdom may be enabled to carry on trade; that subject, he believed, had long occupied the attention of the court of directors, and, he conceived, must still solicit their attention as a matter of the highest importance. If any part of the Company's trade were likely to be injured by the facilities with which others were now allowed to traffic with the East-Indies, the court of directors would, he had no doubt, be always awake to the apprehended danger, and would devise the best means for removing it. The observations of the hon. proprietor, with respect to the charges which various individuals, carrying on business with the Company, were obliged to pay, called for the most serious consideration of the court. These matters must command the attention of the court on a future occasion. At present he had no doubt, that, on reading the names of the persons to whom pensions had been granted, the court would completely concur in the propriety of the conduct that had been pursued by the executive body.

Mr. Hume, in explanation, stated, that he had forgotten to observe, as one reason for his not having opposed any grant from the fee-fund at a former court, that, under the superannuation clause of the 53d of the king, the court of directors might, at the respective dates of granting those pensions, if that clause were then in being, have conferred on the persons so allowed to retire, in conformity with the table affixed to that act, the sum of £5,571; while, in point of fact, the grants they actually made amounted only to £3,500. Consequently, in making those respective grants, they had given £2,000 less than they would have been obliged, or authorised, to bestow.

The Deputy Chairman" We should not have been obliged. It would still have remained at our discretion to give Asiatic Journ.—No. 28.

what the necessity of the case called for."

Mr. Hume-" You kept yourselves much within the hounds prescribed, which proves that no extravagance was countenanced."

The Chairman-" The hon. proprietor has certainly done justice to our feelings."

The grant to Mr. Dominicus was then carried unanimously.

On the motion of the Chairman, seconded by the Deputy Chairman, the resolutions of the court of directors of the 24th of August 1808, and the 11th of April 1810, the former granting to Capt. J. Coggan, late master attendant, a pension of £400 per annum, the latter granting to Mr. John Holland, late freight accountant, who had served the Company for forty-seven years, and had retired, in consequence of the entire decay of his sight, a pension of £600 per annum, were agreed to, without observation, subject to the confirmation of another general court.

The Chairman-" I now move that the court do approve of the resolution of the court of directors of the 1st of February 1811, granting to Mr. Peter Frost, late pepper warehouse-keeper, a pension of £600 per ann.-£200 from the Company's cash, and £400 from the feefund, together with the payments already made thereon, subject to the confirmation of another general court.

The Deputy Chairman seconded the motion.

Mr. Hume, seeing affixed to the situation of a warehouse-keeper a salary of £1,250 per annum, wished to know, whether the Company's warehouse keepers still continued to receive such salaries. It seemed to him to be exorbitant, when compared with the service to be performed. In other cases rewards were extremely small. Pitiful sums were doled out with a sparing hand; but here an enormous salary was given, as he conceived, very unjustly.

Mr. Rigby-"I understand that the pepper-trade is a very small, a truly inconsiderable concern, when compared with the magnitude of other branches of our traffic, and a salary of £1200 a year, in such a department, must naturally strike gentlemen as being very much disproportioned to the duties of the situa tion.

The Chairman-" When the establishment was first formed, pepper was au article of very great importance."

Mr. Rigby" Does this large salary still continue ?"

The Chairman-" The great body of 'spices is now under the care of the same warehouse-keeper, and the present salary is £820 a year." VOL. V. 3 C

Mr. Hume-" Doubts have been stated around me, how far this court is competent, on the same day, to approve of the original resolutions of the court of directors, and also of the sums which have been paid under those resolutions, they being two separate and distinct things."

The Company's counsel stated, in answer to this observation, that the court was, in point of law, competent to agree to both points, by one motion.

The grant to Mr. Frost was then uuanimously agreed to.

On the motion of the Chairman, seconded by the Deputy Chairman, the resolutions of the court of directors, of the 27th of March 1811, granting to Mr. R. H. Peart, late clerk in the secretary's office, a pension of £300; of the same date, granting to Mr. J. M. Neale, late clerk to the secretary's office, a pension of £300; and of the 26th of August 1812, granting to Mr. W. Marter, late clerk in the accomptant's office, a pension of £300; were unanimously approved of, subject to the confirmation of another general court.

The Chairman-" I have next to move that this court do approve of the resolution of the court of directors, of the 1st of February 1815, granting to Mr. W. Coward, late an elder, a pension of £350 per ann., the whole of it from the feefund, subject to the confirmation of auother general court."

£300 per ann. from the fee-fund, subject to the confirmation of another general court."

The Deputy Chairman seconded the motiou.

Mr. Hume observed, that to make any objection to a pension about to be conferred on a lady, would require some very strong ground for opposition. But, whilst he allowed this, he felt extremely anxious to proceed on the principle of justice, whether the individual were titled, or could not boast of any defined rank. In either case, it might be an act of liberality and justice to relieve the widow of a person who had honourably served them. But, when he saw a salary of £3,400 a year attached to the situation which this lady's husband had filled, when he knew that he had long filled that situation, and when he recollected that the executive body were obliged, in consequence of the various claims on the Company's bounty, to refuse a pittance of £50 per ann. earned by meritorious services, he felt himself called on to ask what the circumstances of Mr. Richardson's family were at the time he died? His salary, for many years, was liberal, £3,400 per ann.; and, as this was the case, he hoped specific circumstances would be stated, to warrant the court in being so profuse on this occasion.

The Chairman-Mr. Richardson had, at the time of his death, been thirty

The Deputy Chairman seconded the eight years in the service. I was abroad motion.

Mr. Hume- You will oblige us, sir, by ating, whether the salary of each elder is £750 a year? Those individuals, from a course of service in your employ, arrive at salaries of £750 or £730 per ann. while the military secretary, transacting your most confidential affairs,is allowed only £300 or £400 a year. This is another instance of those disproportioned salaries, for which I caunot account."

The Deputy Chairman" The system is altered, and those persons no longer enjoy such large salaries. The utmost salary now given to an elder is £350 a year."

Mr. Hume" I made the observation in order to procure this explanation, as the circumstance has been mentioned to me in half a dozen of letters. It is necessary, I think, as the circumstance has been so satisfactorily explained, that it should be known to the whole country.'

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The resolution was then agreed to.

The Chairman-"I now have to move, that the court do approve of the resolution of the court of directors, of the 30th of January 1799, granting to Lady Winterton, widow of Mr. Richardson, late accomptant general, a pension of

when the grant was made; but some of my colleagues, I am sure, were perfectly satisfied that it was a pension worthy of being bestowed, or else they would not have acceded to it."

The resolution was then unanimously agreed to.

The Chairman-" I beg leave to state that this court is also made special, for the purpose of submitting for its approval, in couformity with the 17th and 28th sections of the 6th chapter of the by-laws, the resolutions of the court of directors of the 28th Aug. 1816, appointing Lieut.-Colonel Alexander Bryce, on the retired list of the Fort St. George establishment, as a military assistaut to the auditor, at a salary of £300 per annum, £200 from the Company's cash and £100 from the fee fund."

The report of a committee of correspondence, dated the 28th of August 1816, was here read. It stated, that a military assistant to the auditor was very much wanted, and recommended that some servant of the Company from India should be appointed to the situation. Such individual was not, however, to interfere with the ordinary business in the auditor's office, but was to act under Mr. Wright. The court of directors approved of the said report, and, by a resolution

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