r,'\\_,\».‘ f?» .-

III S'I‘C)I{'Y' Cl}? EIIIl1<D.P EL

mitation, with refpett to the appli-
cation of the one fourth allotted to
them in this participation, after
the payment of their {imple con-
tract debts, and the reducing of
their bond debt, to the point af-
fixed by the Houfe, is fo fubverfive
of all their rights and privileges,
by denying them the difpofal of
their own property, though all their
creditors {hall be fully fecured ac-
cording to law, that rather than
fubrnit to fuch conditions, as pro-
ceeding from any confent expreiTed
-or implied by themfelves, they de-
clare their defire, that any claims
againft them, that can be fuppofed
to give rife to fuch reltrifilions,
may receive a legal decifion, from
which, whatever may be the event,
they will at leafi have the fatisfac-

tion of knowing what they may
call their own. h d

The Houfe a now,

May 3d’ for about two months,

been almolt continually occupied

by the affairs of the Bali-India

Company, when at length refolu-

tions to the following effect were

moved for by the minifier, and

made the foundation of a Bill,

“ for eltablilhing certain regula-

tions for the better management of
the affairs of the Ealt-India Com-

pany, as well in India as in

Europe.” 1R. That the court of
directors fhould, in future, be elect-

ed for four years; fix members

annually; but none to hold their
feats longer than four years. 2d.

That no perfon lhould vote at the
election of the direclors who had

not pofieifed‘ their flock twelve
months. 3d. That the flock of
qualification, fhould, inllead of
5001. be tooo l. 4th. That the
may0r’s court of Calcutta, lhould

[*1oI

for the future be confined to fmall
mercantile caufes, to which only its
jurifdiclion extended before the ter-
ritorial acquifition. 5th. That in
lieu of this court, thus taken away,
a new one be eft-ablifhed, confifiing
ofa chief jullice and three puifne
judges. 6th. That thefe judges be
appointed by the crown. 7th. That
a fuperiority be given to the pre-
fidency of Bengal, over the other
prefidencies in India.

Some ofthefe propolitions were
fupported upon the following prin-
ciples, That in the prelent llate of
the Company, the gentlemen in the
direction were fo difconcerted by
the fhortnefs of their turn, and
their time f0 much tal-Len up by
caballing for their re-eleélion, that
they had neither leifure to form,
nor time to execute, any permanent
fyliem of general advantage. That
the term offix months tyas too fhort
for a qualification to vote, as it did
not preclude temporary purchafes
of flock, merely for that purpofe;
and that the prefent qualification
of 50o l. capital flock, was not a.
lufficient intet-elt in the Company,
to entitle the holder to a vote.
That the contraction cf powers in
the mayor’s court at Calcutta, was
only reducing its jurildiéition with-
in that narrow circle, to which it
had been originally confined : that
it was a court compofed of mer-
chants and traders, and therefore
evidently improper and incompe-
tent, to the trial of thofe many
great, momentous, and complicat-
ed matters, which mult now come
before it; that for thefe reafons,
the ereéiion of a new judicature
was abfolutely neceffitry; and that
the judges ought evidently to be
appointed by the crown, n0! 0R1)?

['91 3 1"