the company's concerns which fell moft immediately within his province to examine, he was confident in afferting, that it was in an increafing progreffion of profperity, and that there was every profpect of this profperity being yet very confiderably augmented. Their revenues and establishments were fettled on a folid and permanent basis; nor was there any circumftance within the probable scope of events that was likely to reverfe their fituation. Mr. D. Scott confirmed the general flatement of Mr. Dundas, as to the profperity of India, and the progreffive increase of profit upon all the fales. He ftated the advantage to be derived from the commerce of Bengal, as well as China. Mr. Scott obferved, that it coft the company above 1,000,000l. additional, on account of freight; but, in the event of peace, this would be faved, and confequently a much larger profit would arife upon the fales: befides, in times of peace, many more markets would be open for difpofing of the commodities of India. Mr. Scott differed widely from an honourable baronet (fir Francis Baring), in his opinion refpecting the poffeffion of certain late acquifitions. The Cape of Good Hope and the ifland of Ceylon were of the greateft importance, next to the poffeffion of Bengal, for fecuring the empire of the eaft, With refpect to the fpice-iflands, he thought it better that this country fhould have them than the French; though perhaps it was better that they thould be left intirely free. The various matters of fact ftated by Mr, Dundas were now recorded, and authenticated in the form of re folutions of the house of commons. Mr. Dundas, at the fame time that he prefented these statements to the house of commons, wished the members to recollect that the accounts he then laid before them had come over in the course of the preceding fpring; and observed, that, if they defired to have an accurate account of the whole revenues, to the latest period of the year to which thefe accounts belonged, he fhould produce another ftatement in the course of the enfuing fpring; by which time, he hoped, accounts, to the latest periods, would be received. He, accordingly, on the fourteenth of July, 1797, prefented a second statement of accounts. Upon a comparative view of the accounts prefented this year, with the estimates on which the arrangements of 1793 were formed, it appeared, that The estimated furplus of £ 1,584,008 70,431 5,185,987 expenditure occafioned by the new military arrangement, and the military expeditions fo happily planned and executed. It appeared, from Mr. Dundas's statements, that the company's affets abroad exceeded their debts by 660,000%.; and, that if the whole of their affairs were wound up, they would receive an annual return of 950,000. Mr. Dundas then moved various refolutions, correfponding to his various flatements: all of which were a greed to. CHAP. X. Clouded Afpect of British Affairs in the End of 1796, and earlier Part of 1797.-Meffages from His Majefty to both Houses of Parliament, relating to the Rupture of the Negociation for Peace at Paris.—Addresses in Confequence moved to His Majefty.-Amendments proposed.-Debates.-Amendments rejected, and the Addresses carried by large Majorities.-Motion for Peace in the Houfe of Lords.-Motion for the fame End in the House of Commons. Debates in both Houses. W WHILE either the improvidence of our councils, or the adverfity of events, involved a neceffity of heavy and even fevere taxation, other difcouraging circumftances accompanied or followed this evil in clofe fucceffion. Difficulty crowded on difficulty, danger on danger. On the return of lord Malmesbury, towards the close of 1796, from the unfuccefsful negociation at Paris, the British funds fuffered a greater depreffion than was experienced at any period of the American war.* Infurrections prevailed in many parts of Ireland, difcontents in all: an unexampled run on the bank of England was followed by a fufpenfion of payment in fpecie; a mutiny of unprecedented extent and inveteracy raged in the navy; fymtoms of difcontent began to appear in the army; the public diffatisfaction and alarm were expreffed in petitions from all quarters, for a change of measures, if not of minifters; the wild and darkening foreft threatened to clofe around us. But viftas and paffages were opened for our efcape: and temporary embarrafments and alarms, only ferved to prove the extent of our refources, and the influence of those virtues which ftill ftrung the nerves of both private and public credit, and united Englishmen in the bonds of mutual confidence, and an attachment to their common country. In the circumftances and temper of the nation, in December, 1797, an opinion very generally prevailed, that the embaffy was fent over to Paris, by his majefty's minifters, for the fole purpofe of amufing people with the fallacious hopes of peace, that they might the more eafily procure money for the profecution of the war. The adherents of the miniftry, on the other hand, laboured by all means, whether of speaking or writing, to imprefs a conviction, that the rupture of the negociation for peace at Paris was to be at tributed to a fyftematical averfio The three per cept. confols, being fo low as 517. n and nd apprehenfion of peace, in the lamenting the failure of the negocigoverning party in the French re- tion, proceeded to fhew the fincerity on this fubject, was laid before the the one part, and the infincerity of public. His majefty's declaration, of his majefty in that bufinefs, on ftance of this declaration was, "that to his majefty, containing affurances the 27th of December. The fub- In conclufion, he moved an address houfe of lords, by lord Grenville, on the French republic on the other. the rupture of the negociation did that "the lords were perfectly fatifnot arife from the fallare of any fied with his majefty's conduct in France; but from the determination that he might place the fulleft confincere attempt on the part of the whole of the negociation, and, of that government (meaning the filence in the wildom and firmness French government) to reject all of his parliament, on the tried va lour of his forces by fea and land, and on the zeal, public fpirit, and refources of his kingdoms, for vigorous and effectual fupport in the profecution of a conteft, which it did not depend on his majefty to terminate, and which involved in it the fecurity and permanent interefts of this country. The earl of Guildford declared, that, in his opinion, the prefent was the moft unfortunate day this country had ever experienced, that only excepted which had plunged us into the calamities of the prefent war. If the ftatus quo ante bellum had been the principle agreed on, he was ready to admit that the French had departed from that principle: but this was by no means the cafe. The principle that was to from the bafis egociation, was that of proeftitution: and was there eing, who could fay, that offered to be restored to was an equivalent to what afked of her to reftore to our lies? Mis kordfhip concluded his fpeech, by propofing an amendment to the addrefs, flating what he conceived to be blameable in the conduct of his majefty's minifiers during the whole courfe of the war, charging them with infincerity in every part of the negociation, and CHA P. X. Clouded Afpect of British Affairs in the End of 1796, and earlier Part of 1797.-Messages from His Majefty to both Houses of Parliament, relating to the Rupture of the Negociation for Peace at Paris.- Addresses in Confequence moved to His Majefty.-Amendments proposed.-Debates.-Amendments rejected, and the Addresses carried by large Majorities.-Motion for Peace in the Houfe of Lords.-Motion for the fame End in the House of Commons. Debates in both Houses. W of our councils, or the adver- viftas and paffages were opened for fity of events, involved a neceffity of heavy and even fevere taxation, other difcouraging circumstances accompanied or followed this evil in clofe fucceffion. Difficulty crowded on difficulty, danger on danger. On the return of lord Malmesbury, towards the close of 1796, from the unsuccessful negociation at Paris, the British funds fuffered a greater depreffion than was experienced at any period of the American war.* Infurrections prevailed in many parts of Ireland, difcontents in all an unexampled run on the bank of England was followed by a fufpenfion of payment in fpecie; a mutiny of unprecedented extent and inveteracy raged in the navy; fymtoms of discontent began to appear in the army; the public diffatisfaction and alarm were expreffed in petitions from all quarters, for a change of measures, if not of minifters; the wild and darkening forest our efcape: and temporary embarrafments and alarms, only ferved to prove the extent of our resources, and the influence of those virtues which still ftrung the nerves of both private and public credit, and united Englishmen in the bonds of mutual confidence, and an attachment to their common country. In the circumftances and temper of the nation, in December, 1797, an opinion very generally prevailed, that the embaffy was fent over to Paris, by his majefty's minifters, for the fole purpofe of amufing people with the fallacious hopes of peace, that they might the more eafily procure money for the profecution of the war. The adherents of the miniftry, on the other hand, laboured by all means, whether of fpeaking or writing, to imprefs a conviction, that the rupture of the negociation for peace at Paris was to be at tributed to a fyftematical averfio The three per cept. confols, being fo low as 517 and |