He

ced till August 1802, but the expence of preparation had been considerable. He would not enter into the general policy of the grounds of this war, nor of the advantages of its conclusion. would proceed simply to the statements of the accounts. The statement was generally divided into three classes: 1st, revenues and charges; 2d, commercial investment and 3d, debt and assets abroad and at home. And 1st, for the year of actual account, ending April 1803. The first view was the average expenditure of three years, compared with the actual produce of the last year; and whether from that the probable revenue of the next year would be adequate to the probable expenditure. His lordship then read the statement, which was as follows:

GENERAL VIEW.

Revenues.-The objection to drawing an average on the gross receipts of 3 years stili prevailing, as it would not give a correct view of the an naal resources of the presidency, or be a proper mode of comparison with former years, on account of the large addition acquired by treaty in particular years, the same principle is resorted to as for merly, viz. by stating the average of the reoeipts on the more ancicat revenues of the Company, wholly excluding the subsidiary or other resources derived either from treaty or conquest.. On this principle, the average on 3 years, 1800-1 to 1802-3, by the statement No. 4, amounts

£7,388,804

627,205

to

No. 3, estimated for 1802-3, 7,612,384

which is more than the average on the 3 years 1799-1800, to 1801-2

£315,106 291,428

606,534

1.174,533

by

37.936

More than estimate

240,446

Deducting the increase of Debts from the increase

of Assets, the improvement in the Home Coneern in the year is

From this sum should be deducted the amount of car goes arrived in India previous to the 30th April, 1803, and included in the quick Stocks there which formed part of the cargoes afloat outward in the Assets at Home

417,000

1,713,164

312,575.

The Remainder is Which may be considered as still liable to farther adjustments, when the final arrangement of the claims of the Company upon guvernment,as stated in the Home Assets, shall be completed.

This statement being concluded, the Noble Lord begged leave, be fore he sat down, to make a few general observations. He wished to call the attention of the commit tee to the estimates which he had brought forward for 1802-3. He had then expressed his sanguine conviction, not only that the pubHe would receive a participation of 500,000l. but that the compa ny, in addition to this contribu tion to the public, would be able to establish a sinking fund for the extinction of their debt, to the amount of two millions a year. When he had made this declaration, it was but fair to keep in mind, that the circumstances then existing were very different indeed from those in which the country is now placed. It was in the untemplation of the continuance of peace

16