He

In 1793, he (Mr. J.) had had the honour of proposing that resolution which, upon an average of three years, had saved the company £700,000, per annum. contended, that the proceedings of 1803 were no precedent, which could bind the proprietors on the present occasion. Suppose the present measure was just, -a much graver question would then arise-was it wise? What was proposed to be done? Why to apply to parliament for a bill; to do what? To leave it to the discretion of the directors-to give them a power of administering this reHef according to their own discretion. He hoped the sense and understanding of the court of proprietors were not at so low a standard, as to accede to such a proposition. The idea of granting war allowances in times of peace was ridiculous, and yet that was the object of the present proposition. But this was insisted upon, on the authority of the supposed precedent of 1803. There was not the slightest analogy between the two cases. In the first place, the act of parliament passed in the expectation of war; for it was too much to say, that it passed under the idea of profound peace, when in the month of August 1803, an order was sent out for the taking possession of the island of Malta, which was in fact, a declaration of war. It was almost ridiculous to suppose, that the act of 1803, passed in the contemplation of peace, when it was well known that the cessation from hostilities which then took place, was no more than an expedient devised for preparing against a more rigorous war. What analogy then was there between that period and the present? Then there was the moral certainty of renewed hostilities-and now there was the prospect of a permanent peace! The very act of parliament passed then, was couched in such cautious terms, as clearly proved that the legislature meant, that it should not be drawn into a precedent, so as to insure a departure from the established system. In the second place, the cases were distinct, inasmuch as the description of owners who sought relief were different now from what it was in 1803. The act of parliament went upon the idea of a state of war, or preparation of war; but the report said, that great consideration was due to one of two classes of owners; namely, the old ones. Now he (Mr. J.) had no doubt that the old owners were in a different predicament from the new ones. The old ones were compelled to offer their ships at a low peace rate of freight; they had no alternative but to tender and be taken upon the established principle regulating the public contracts. Therefore, said the report, as they had lost by their contracts, they were deserving of great con

sideration; but not so of the new ones, who made speculative tenders, in order to oust all rivalry, and all rival competition, by the price which they then tendered, and thereby prevent the conscientious and fair ship-owner from being employed. Upon this principle the committee of that time thought the new owners did not deserve consideration; and yet it was rather whimsical that the present measure should be bottomed upon the precedent of 1803, when the owners of the present time were precisely of the description of those new ones, whom the committee thought then should be excluded from the benefit of the relief claimed. What did the committee say on that occasion in their report? Having all the contracts before them they said, " we deprecate any departure from the law as it respects these new owners, for the moment it is known, that you, the directors, are made of such convertible stuff you will always find that he will tender the lowest who has the greatest interest among you, and that he who has no interest will not dare to tender so low, because he knows he cannot fulfil his contract; but the man who has interest will tender so low as to oust all competitors, and having done so, he will avail himself of his interest to get his price raised, thereby to destroy the genuine principle of the system of open competition, and stultify the idea of solemn contract." This was the purport of the report of 1803, and yet this was called a precedent,-upon this the present measure was founded.

Now he decidedly objected to the discretion with which it was proposed to arm the directory, because it was an infraction of the very principle-the life spring of this admirable system. The act of parliament had already declared it not to be a wise discretion. He objected to com pliments on this occasion. In matters of business, eulogies upon the honour and integrity of particular bodies of men, were very ill-timed; for they ought not to affect the determinations of reasonable creatures met together for the solemn consideration of a subject deeply affecting their permanent interests. The proprietors were now met for business, not for complimentary speeches; they came to hear reasons, facts, and evidence. They were not to be told they were guilty of intemperance, indeceney, and misrepresentation, if in considering the subject, they resorted to irrefragable arguments and proofs quoted from the company's own records. His hon. friend had purposely abstained from every thing like intemperance and misrepresentation, for he was minute to a degree in his demonstration of every position he had laid down. His hon. friend had truly argued that the court had no security against the

extension of this odious system; for although the hon. chairman had said that this was a proposition binding only for one year, yet under the colour of limita tion, they were clearly to understand that this principle was to go on progres sively from year to year, until things should reach their peace standard. What was the utility of such public contracts, if they were liable to be broken upon every change in public affairs, and upon every vicissitude in the price of stores? And yet the hon. chairman was quite angry, because his hon. friend should give a construction to the case, different from the hon. chairman's views of the subject. Gentlemen ought not to give way to private feelings upon such matters, for it had quite a different tendency from that looked for. It neither refuted the arguments of adversaries, nor conciliated the favourable disposition of the court. All that his hon. friend had urged with any thing like warmth, was his objection to the principle of granting the directors too much discretion; and in this he was not only warranted, but deserved commendation, for he was bottomed in all his observations upon the declaration of the legislature in a solemn act of parliament, which represented the folly of giving too much discretion in money mat

ters.

Was it nothing to give the directors the power of dispensing 500,000/. at their own discretion? Was there nothing alarming in a proposition which was to give the directors the power of selling-out as they pleased half a million of money? and yet his hon. friend was to be reproached for misrepresentation and exaggeration, in a case where he gave day and date-vigorous argument and incontestable proof, drawn from the history of the company. Could there be any thing more unjust and inequitable than the proposition made? The history of the last ten or twelve years, had shewn that some of these ship-owners had made enormous fortunes, and yet when the time arrived that they were pinched a little by the pressure of circumstances over which the company had no controul, they were to be indemnified at all events, against consequences, which they themselves ought to have foreseen, and against which, as contractors, they should have guarded in their original tenders. The proposition was neither more nor less than this: "here are contracts entered into for twenty years; for the last eighteen or nineteen years, the contractors have amassed immense wealth,-the twentieth year turns out to be unprofitable, and you the court, as a matter of equity and justice, must take care that these poor men shall not suffer by their own improvidence." No doubt there were some of the owners who had not derived much

advantage; for instance, those who had entered into their contracts lately. But was it because the principle of allowing to some of the owners relief to a certain extent was admitted, that therefore the di rectors were to have every thing their own way in the administration of the relief sought for? But admitting, for the sake of argument, that it was prudent to allow them this discretion, was it just or was it honest to extend the relief in the way required to those who had been. fifteen-or sixteen years deriving all the benefit, and advantage which times of prosperity gave them? But he,agued in limine, that this was too high and mighty a discretion to allow the court of directors. His hon. friend (Mr. Kinnard) had recommended the court to make a separate agreement according to the respective situation of each owner. Suppose there was a given, number of proprietors suggested to whom it was prudent to give relief, how could the allowances be proposed till the court calculated what to allow them? It occurred to him that a better course of proceeding than that recommended by his hon. friend would be to examine the respective case of each owner, and then to draw up a resolution" that it is the opinion of the court of directors that. A. B. should have such and such allow ances." If the proposition was thus brought before the court of proprietors then they would see the reason why A. should have a certain sum, B. another sum, C. another sum; and so on, through the whole number of cases. In his opi nion, this course of proceeding would obviate the necessity, first, of vesting the directors with an odious discretion and secondly, of applying to parliament, which would be attended with the incon veniences he had pointed out. If the court of directors should declare their opinion in the shape of a resolution upou each particular case, then the court of proprietors would have an opportunity of deciding for themselves upon the merits of each case; and by that means they would adopt a circumscribed course which would still preserve the system. inviolable; which it would not be, if a general unqualified discretion were given to the directors to do as they pleased upon the subject. By this means the system would be preserved, the evil he so much dreaded would be avoided, and, then the court of proprietors could go, head and hand with the directors in pormoting such restricted objects. The idea of going to parliament would be vain and useless, for it could not be expected that the legislature would concur in a measure which had for its object the revocation of that system which had cost so much pains to establislr. It was a mere wild speculation to suppose that the House of

Commons would acquiesce in the sentiments of the directors. He was in hopes that some such suggestion as he had just now made, improved by some better understanding, would have been brought forward, so as to modify the proposition, and make it so palatable as to prevent The expedient of going to parliament. For it would be found that if this last proceeding was determined upon, the divectors would not lightly get out of it. Such a measure would only have a tendelcy to provoke wild discussion without any useful or solid advantage. With these observations he concluded by earnestly suggesting some such middle course as he had hinted at, which would do ample justice, which he should always be desirous of doing without subjecting the company to the consequences which he had apprehended from a contrary course.

The Chairman, in explanation, requested the permission to touch upon one or two points which had arisen in the course of this discussion. In the first place, with respect to the subject of the supposed enormous profits made by the owners, he believed that the hon. and learned gentleman was quite misinform ed. For his (the chairman's) own

to have, all he had to say was (and he hoped the court would attend to it) that through the whole of this system, until a very short time since, the court of directors had by law, a much greater discretion than what they asked now. Through the whole poriod of the war they had the entire discretion of settling the war extraordinaries. The war extraordinaries were in some cases more than half the freight. If the freight was 407, the war extraordinaries were 221. or there abouts. They had the discretion of allowing 207. on each ship, and this for the whole period of the war: and all the discretion that could possibly be given by the present measure was a discretion respecting a few pounds, not more than four, or five, or six pounds in each ship. So that it would be seen that there was an enormous difference in point of the discretion, which the directors had throughout the whole of the war, and that which was now required. But this was not all. Gentlemen spoke as if the court of directors was not accountable to their constituents. Every body knew that all proceedings respecting the shipping system, were, by the bye-laws, in a particular manner laid open to

might have been some individuals who had derived considerable advantage from 'their contracts; yet the condition of the owners in general was such that they were very far from having made inordinate profits. In a vast number of instances, the owners had sustained very considerable losses instead of profits. Another point was the supposed difference between the case of 1803 and the present one. It being asserted that the act of parliament, at that time passed, proceeded upon the ground of there being preparations for war. Now he (the chairman) stated before that that act 'passed in the perfect contemplation of peace; and he cited the authority of the report of the committee of shipping at that time; and the report of the proceedings of the court of directors of the 5th of July 1803, in relation to the then depending act of parliament, from which it clearly appeared that the act passed in the contemptation of peace. It was a notorious fact that many ships had gone out during the last short interval of peace not under any contemplation of war, but in the expectation of a permanent peace. Many of them were subjected to the expences of that time; and all that the proposition now meant to do was to relieve those ship-owners as a matter of equity. With respect to the third and last point upon which he should now trouble the court; namely, the objection which had been made to that supposed vast discretion which the directors were Asiatic Journ.-No. V.

Pro prietors. Every thing upon this subject. was laid fully open to the consideration and examination of those very honourable gentlemen, who seemed to take so much exception to the powers now claimed by the directors.

Under these circumstances, the discre. tion thus claimed, ought not to excite any alarm or apprehension in the proprietors.

Having made these few observations, and without going further into the debate which had already occupied so much time, he should conclude by begging leave to put the question.

Mr. Hume having made a few observations in explanation,

The Chairman put the question, when a division took place, on which the amendment was negatived by a majority of 55 to 8.

The original question was then put and carried by a similar majority.

A draft of the bill proposed to be presented to parliament, was then submit'ted to the consideration of the court; agreed to and ordered to be printed. Adjourned.

Oct. 24th, 1814.-The changes of the Monsoon has taken place with great mildness. A considerable fall of rain has already relieved the dearth which has been so generally experienced for some time past, and the indications are favourable for a further supply. The wind has blown from the northward principally during the week, but hitherto with very little vio lence.

The brig Lark, Capt. Black, sailed early on Saturday morning from the Roads for the Mauritius. The packets for that island, and also for England, which were originally intended to have been dispatched by the brig Cheerful were forwarded by the Lark; she touches at Pondicherry, but will not remain there more than two days.

The private trader City of London, Capt. Jenkins, sailed in prosecution of her voyage to Not a single cuta, on Saturday last. vessel of any description

has since remained in the Roads.

Nearly four hundred letters from England have been received at the Post-Office, in the course of the last three days; they are principally of old date, and were conveyed to Ceylon by the Chapman transport.

We have not been able to learn any further particulars of the loss of the ship by fire, off Covinga, than what we have presented in our last. We have seen the Captain of the schooner Brothers, whom we stated to have seen the conflagration, but we could get no facts. It seems he remained very near the burning vessel, till she was consumed to a shell.

We have received our usual supply of Calcutta papers and letters in the course of the week, but their contents possess no general interest. The Susan had arrived at Saugar, and conveyed the first iutelligence of the death of the late Admiral. She also conveyed to Bengal, the first news of the expulsion of Murat from the throne of Naples.

The private ships Melanctho and Liverpool are expected to be dispatched from Calcutta for England, about the middle of the current month.

The hon. Company's ship Carnatic, Captain Blanshard, had arrived safe in the Bengal river. The private ship Bengal from Liverpool, whence she sailed 22d May, had also arrived at Calcutta. She touched at Madeira, but fell in with no ship on the voyage, which gave any

The inhabitants of Calcutta v a were thrown into great alarm the latter part of the last month, which had been in

dustriy rumours that the plague

had been conveyed to this country, by an Arab ship. It j It proved, we need hardly say, entirely of foundation.

The Hon. Company's ships Marquis of Wellington, and Princess Charlotte of Wales, will convey His Majesty's 59th regiment to this presidency early in December.

i

Tuesday Oct. 17, 1815.-The schooner Brothers, arrived in the Roads on Sunday last, from Dorniga, which she left on the 9th inst. Captain Chick reports, that at Gaudwar, 40 or 50 leagues distant from the two A. M. on the 10th, being off Point land, he saw a large ship on fire; the flames raging from her decks to her royal mast; he immediately tacked and sailed round, he lowered a boat, and sent it to her assistance, or rather to assist her people, if any could be found; but not supposes they had previously taken to one person was met wita, and the Captain their boats and got on shore. Captain Chick continued near the burning vessel till six in the morning, by which time she her masts had fallen overboard; a donay had been consumed to the water's edge; was seen making towards the wreck. The schooner's boat fell in with a raft at some distance from the ship, on which they found some pieces of cloth,, and seamen's jackets, both much scorched, also a few blocks, and three spars painted green; several bales of cotton were seen

floating in the sea, and a great quantity of loose coffee. The weather was very fine, head. We are sorry to add, that this unand nearly calm; the ship had a billet fortunate ship is supposed to have been the Mornington, Captain Dunlop, which sailed from Saugor, bound for London, on the 20th ultimo. We are happy to state, that there is no reason to be under the least apprehensions for the safety of the passengers and crew. The above are the only particulars we have been able to

learn.

His Majesty's ship Welleslley, Capt. R. O'Brien, sailed from the roads on Sunday evening. She is destined we believe, in the first instance for Ceylon, and subsequently to Bombay. Commissioner Puget has proceeded on board her for the latter place.

On Sunday the Flag-Staff of Fort St. George, was struck, according to annual custom, on the approach of the period," when the monsoon usually changes. Hitherto the weather has been extremely mild and inoderate, but for several days past, the atmosphere has been lowering and overcast, and appearance to the northward has at times been threatening. 3 X 2

d