_ tea: duty-free.

HISTORY OF EUROPE. [r95

C H A P. VVIII.

Propoftzl: from the Eafl-India Company for a loan. Papers". Re/olutions

relative to the loan. Right to the territorial pofiflion: guejtioned. Rejo- lution: for refiraining the di-ziidend, contrary to the propofal: delieuered h] the Company ; great dehate: thereon. Re/olutiott: for continuing the terri- torial acguz/ition: in the Company fin-fix yearr, and relative to the future partiripation and dWQ/dl o/‘the jar-plus profits. Deha/es. Exporlatiozi of Petition from the Ea/t-Izzdia Company again/i the fore- going re/hlutionr. Bill for regulating the afairs of the Ea/Z-India Com- pany, a: well in India a: in Europe. Lord Clio/e’: eondufl in India ar- raigned. Rlffolutions. Fi/zal reyolittiotz in hi: favour. Petitions‘, from the Ea/l-India Company, the city ofLondon, and the proprietor: of ley} than 1000 l. capital flovh, again/Z the regulation hill; coun/el heard again/Z it ;

great dehater; hill ptfléd. Protrfit.

Petition was prefented from

the EaPt-lndia Company, fetting forth, that finding them- felves under a neceflity of applying to parliament for relief, they hoped they fhould be efieemed worthy of receiving it, in the manner, and upon the terms, fpecified in feveral propofitions, which were included therein. The principal of thefe, were a requifition for a loan of 1500,0001. for four years, at four per cent. interefl, with liberty of repaying the fame, as foon as the Company was able, in payments of not lefs than 300,0o0l. and that the Company lhould not make a dividend of more than fix per cent. until the loan ihould be reduced to 750,000]. that then they might raife their dividend to eight per cent; and after the whole loan was difcharged, that the furplus of the nett profits arifing in England, above the faid dividend, fhould be appropriated to the payment of the Company’s bond debt, until it was reduced to~ 5500,0001. and from thence, that the furplus pro- fits lhould be equally divided be-

Speech from the throne.

tween the public and the Company. It was allb requeiied, that the Company fhould be rcleafed from the heavy penal interefi incurred by the non-payment of money, owing in conlequence of the late aéts for the indemnity on teas, and dif- charged from the annual payment of the 40o,0ool. to the public for the remainder of the five years fpecified in the agreement.

It was farther propofed on the fide of the Company, that the ac- counts of the Duannee revenues, of the charges of collection, of the civil and military expences of Ben- gal, together with the amount of the Company’s (ales, charges, debts owing, bills drawn upon them, and goods in their ware- houfes, lhould be delivered annu- ally to parliament; and it was de- fired, that leave might be given to export teas free oFall duty, to Ame- rica, and to foreign parts.

Some reports from the fecret committee had alfo been received at this time; and as defigns upon the Companfs territorial. polllf- fions were apprehended t0 b8 ill

cou-