95*]

contemplation, a gentleman, who had been chancellor of the Exche- quer in a liiriiicr zttiminiitiation, moved, that ievcral papers, which had paflied between the lingiilh and French miniilcrs, previous to the late peace, relative to the affairs of the India Companies of both nations, flaould be laid hefbre the Houfc. Thefe papers tended to fliew, that {o far as the lentirnents of the crown at the time of the peace, could be collected from thole of its mitiillers, it was underllood that the Bait-India Company had an exclufivre and undoubted right to thole territories it poffefled, whe- ther acquired by conqueil or other- wife. ln one of them was read the following remarkable pafliage : “ Refpecting thole territorial acqui- fitions the Englilh Eall-India Com- pany have made in Alia, every dif- pute relative thereto mull be lettled by that Company itlielf, the crown of England having no right to in- terfere, in tvhat is allowed to be the legal and exclufive property of a body corporate belonging to the Englilh nation.”

After the Ball-In- Nfiirch 9th dia petition had been read, the firli lord of the treafury, in introducing the fubjeci: of the loan, oblierved, that the granting of relief to the Company was a matter ofnecefiary policy, and ex- pediency; but in no degree, a claim of right or of juftice, as had been reprefented; and having taken notice of the various me- thods that had been fuggelled for that purpofe, propofed the follow~ ing relblutions, which were agreed to, viz. That it is the opinion of this Houfe, that the afFairs of the Eall-[ndia Company are in Quch a [late as to require parliamen-

ANNUAL REGISTER, 1m.

tary allillnnce. That a loan of g (um of money is necefiiary to rein, ilate the Company’s ariiairs. That a fupply of latoopool. be granted to the Company. Provided at the fame time, due care {hall be taken, that the ncceliiary regulations be adopted, to prevent the Company’s experiencing the like exigencies in future.

‘The mitiiller upon this occalion, though he waved, for the prelient, any particular difcullion of the point, not Only called in queflion the Contpany’s claim of exclufive right to its territorial poffcfiions, butinliliud upon a prior rightin the {late ; from whence he inferred the jullice and legality of its interpol- ing its authority in all cafes in that Companfs afFairs. He obferved, that this doctrine was not peculiar to himfelf; and that feveral per- fons of great knowledge in the laws, had declared it as their opi- nion, F‘ that fuch territorial poli- felhons as the fubjefts ofany ltate lhall acquire by conquelt, are vir- tually the property 0F the fiate, and not of thofe individuals who acquire them.” * ’

Though this was a matter ra- ther of converfation than debate, fuch an avovxal from that quarter, was thought too dangerous to be palTed over without animadverlion. It was faid, that the relation which thofe opinions could have to the Company, depended folely upon the manner of flaring the queltion; that in certain circumllances they were very jtuli, and were not to be contelled, when territorial polTef- fions were acquired under the au- thority of the fiate; but that when the (late, (as in the prefent in- fiance) has in the molt folemn and authentic manner, delegated that

author