the company's concerns which fell most immediately within his province to examine, he was confident in asserting, that it was in an increasing progression of prosperity, and that there was every prospect of this prosperity being yet very considerably augmented. Their revenues and establishments were settled on a solid and permanent basis: nor was there any circumstance within the probable scope of events that was likely to reverse their situation. Mr. D. Scott confirmed the general statement of Mr. Dundas, as to the prosperity of India, and the progressive increase of profit upon all the sales. He stated the advantage to be derived from the commerce of Bengal, as well as China. Mr. Scott observed, that it cost the company above 1,000,000l. additional, on account of freight; but, in the event of peace, this would be saved, and consequently a much larger profit would arise upon the sales: besides, in times of peace, many more markets would be open for disposing of the commodities of India. Mr. Scott differed widely from an honourable baronet (sir Francis Baring), in his opinion respecting the possession of certain late acquisitions. The Cape of Good Hope and the island of Ceylon were of the greatest importance, next to the possession of Bengal, for securing the empire of the east. With respect to the spice-islands, he thought it better that this country should have them than the French; though perhaps it was better that they should be left intirely free. The various matters of fact stated by Mr. Dundas were now recorded, and authenticated in the form of resolutions of the house of commons. Mr. Dundas, at the same time that he presented 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 spring; and observed, that, if they desired to have an accurate account of the whole revenues, to the latest period of the year to which these accounts belonged, he should produce another statement in the course of the ensuing spring; by which time, he hoped, accounts, to the latest periods, would be received. ingly, on the fourteenth of July, 1797, presented a second statement of accounts. Upon a comparative view of the accounts presented this year, with the estimates on which the arrangements of 1793 were formed, it appeared, that He accord expenditure occasioned by the new military arrangement, and the military expeditions so happily planned and executed. It appeared, from Mr. Dundas's statements, that the company's assets abroad exceeded their debts by 660,000l.; and, that if the whole of their affairs were wound up, they would receive an annual return of 950,000l. Mr. Dundas then moved various resolutions, corresponding to his various statements: all of which were a greed to. [L2] CHAP CHAP. X. Clouded Aspect of British Affairs in the End of 1796, and earlier Part 1797-Messages from His Majesty to both Houses of Parliament relating to the Rupture of the Negociation for Peace at Paris.-Ad dresses in consequence moved to His Majesty.-Amendments proposed -Debates.-Ame..dments rejected and the Addresses carried by larg Majorities.-Motion for Peace in the House of Lords.-Motion for th same End in the House of Commons.—Debates in both Houses. WHILE either the improvi- forest threatened to close around us dence of our councils, or the adversity of events, involved a necessity of heavy and even severe taxation, other discouraging circumstances accompanied or followed this evil in close succession. Difficulty crouded 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 suffered a greater depression than was experienced at any period of the American war.* Insurrections prevailed in many parts of Ireland, discontents in all: an unexampled run on the bank of England was follow ed by a suspension of payment in pecie; a mutiny of unprecedented extent and inveteracy raged in the navy; symptoms of discontent began to appear in the army; the public dissatisfaction and alarm were expressed in petitions from all quarters for a change of measures, if not of ministers; the wild and darkening But vistas and passages were opened forourescape: and temporary embar rassments and alarms, only served to prove the extent of our resources and the influence of those virtue which still strung the nerves of bot private and public credit, and united Englishmen in the bonds of mutua confidence, and an attachment to their common country. In the circumstances and tempe of the nation, in December, 1706 an opinion very generally prevailed that the embassy was sent over Paris, by his majesty's ministers, fo the sole purpose of amusing peopl with the fallacious hopes of peace that they might the more easily pro cure money for the prosecution the war. The adherents of th ministry, on the other hand, labour ed by all means, whether of speakin or writing to impress a conviction that the rupture of the negociatio for peace at Faris was to be tributed to a systematical aversio The three per cent. consols, being so low as 511. and apprehension of peace, in the governing party in the French republic. His majesty's declaration, on this subject, was laid before the house of lords, by lord Grenville, on the 27th of December. The substance of this declaration was, "that the rupture of the negociation did not arise from the failure of any sincere attempt on the part of France: but from the determination of that government (meaning the French government) to reject all means of peace, by an obstinate adherence to a claim which never could be admitted; a claim which that government rested on the constitation of its own country, to be received by all nations as paramount to every principle and law in Europe, as superior to the obligations of treaties, the ties of common interest, and the most urgent considerations of general security. His majesty, who had entered into this treaty with good faith, had now only to lament its abrupt termination; and to declare, in the face of Europe, that whenever his enemies should be disposed to enter on the work of general pacification, nothing should be wanting, on his part, to contribute to the accomplishment of that great object, which was only retarded (meaning retarded only) by the exorbitant pretensions of his enemies." A similar message, on the same subject, was sent from his majesty to the house of commons. Authentic copies of all the papers, relative to the negociation, having been printed for the use of the members, his majesty's message on that subject, was, on the 30th of December, taken into consideration, in both houses of parliament. This message being read in the house of lords, lord Grenville, after lamenting the failure of the negociation, proceeded to shew the sincerity of his majesty in that business, on the one part, and the insincerity of the French republic on the other. In conclusion, he moved an address to his majesty, containing assurances that "the lords were perfectly satisfied with his majesty's conduct in the whole of the negociation, and that he might place the fullest confidence in the wisdom and firmness of his parliament, on the tried valour of his forces by sea and land, and on the zeal, public spirit and resources of his kingdoms, for vigorous and effectual support in the prosecution of a contest, which it did not depend on his majesty to terminate, and which involved in it the security and permanent interests of this country. The earl of Guildford declared, that, in his opinion, the present was the most unfortunate day this country had ever experienced, that only excepted which had plunged us into the calamities of the present war. If the status 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 case. The principle that was to form the basis of the negociation, was that of proportional restitution and was there any man being, who could say, that what we offered to be restored to France, was an equivalent to what we asked of her to restore to our allies? His lordship concluded his speech, by proposing anamendment to the address, stating what he conceived to be blameable in the onduct of his majesty's ministers dur ing the whole course of the war, charging them with insincerity in every part of the negociation, and [L 3] : moving moving that a committee might be appointed to inquire into the present calamitous state of the country. The earl of Derby denied, as he always had done, any necessity, on our part, of going into the present war. He described the present disstressful state of the country; and expressed his suspicions that the ministry were insincere in their late shew of negociation. His lordship thought that Pondicherry in the East Indies, and Martinico, St. Lncia, and Tobago, in the West Indies, could never be considered as an equivalent for the Milanese and the Austrian Netherlands, The earl of Liverpool said, that what we had offered to the French, was, in reality, an equivalent to what we asked of them to be given up. It was reported, that the revenue they received from their WestIndia islands, generally amounted to ten millions annually.-Why did not the French directory, when they were dissatisfied with the proposals from the British court, bring forward some counter-project of their own? Lord Auckland declared, that, though he, from the beginning of this business, firmly believed that it would not be attended with any success, had yet been of opinion that it was right that the experiment should be made, for the satisfaction of the country. The experiment had been made, and the result was such as he had expected. He declared his conviction, that the defenders of the French republic were in such a state of distress, as not to be able to go through another campaign. The earl Fitzwilliam said, that no circumstance had occurred to convince him, that the former proud and dangerous principles of the French did not now exist in their full force. There could be no safety in fraternizing with such a people. The duke of Bedford, among other shrewd remarks, observed, that lord Malmesbury, in his conversation with M. de la Croix, by hinting at an equivalent for the Netherlands, had, in a manner, admitted the plea of the directory, and that, in contradiction to the treaties subsisting between Great Britain and her allics. The French minister, at the same time, by conversing about an equivalent, proved that he virtually admitted that some equivalent might be accepted.-Lord Malmesbury, he observed, had re- quested a contre projet, whilst, at the same time, he persisted in refusing to enter upon any treaty in which the French were toretain possession of the Netherlands. From these circumstances, as well as that of lord Malmesbury being left without a discretionary power in any matter of importance, his grace inferred, that ministers were not sincere in the proposed negociations for peace. He thought that before a renewal of the negociation, ministers ought to have satisfied themselves, that the French directory had departed from the principle they avowed, when they refused to treat with Mr. Wickham. In his opinion, ministers had not only created suspicions, as to the sincerity of their intentions, but even afforded just grounds for accusation. They had acted on a principle of augmenting the power of great states at the expence of those which were weaker; such, he said, was their idea of remunerative justice! By consenting to such a principle, Europe would sink into a miserable labyrinth |