said, Between twenty-three and twenty-four lacs of pagodas, as well as he can recollect.—Being asked, What was the amount of that debt when he left Madras? he said, Between four and five lacs of pagodas, as he understood.—Being asked, What was the amount of the new debt when he left Madras? he said, In November, 1777, that debt amounted, according to the Nabob's own account, and published at Chepauk, his place of residence, to sixty lacs of pagodas, independent of the old debt, on which debt of sixty lacs of pagodas the Nabob did agree to pay an interest of twelve per cent per annum.—Being asked, Whether this debt was approved of by the Court of Directors? he said, He does not know it was.—Being asked, Whether the old debt was recognized by the Court of Directors? he said, Yes, it has been; and the Court of Directors have sent out repeated orders to the President and Council of Madras to enforce its recovery and payment.—Being asked, If the interest upon the new debt is punctually paid? he said, It was not during his residence at Madras, from 1777 to 1779, in which period he thinks no more than five per cent interest was paid, in different dividends of two and one per cent.—Being asked, What is the usual course taken by the Nabob concerning the arrears of interest? he said, Not having ever lent him moneys himself, he cannot fully answer as to the mode of settling the interest with him.
Being asked, Whether he has reason to believe the sixty lacs of pagodas was all principal money really and truly advanced to the Nabob of Arcot, or a fictitious capital, made up of obligations given by him, where no money or goods were received, or which was increased by the uniting into it a greater interest than the twelve per cent expressed to be due on the capital? he said, He has no reason to believe that the sum of sixty lacs of pagodas was lent in money or goods to the Nabob, because that sum he thinks is of more value than all the money, goods, and chattels in the settlement; but he does not know in what mode or manner this debt of the Nabob's was incurred or accumulated.—Being asked, Whether it was not a general and well-grounded opinion at Madras, that a great part of this sum was accumulated by obligations, and was for services performed or to be performed for the Nabob? he said, He has heard that a part of this debt was given for the purposes mentioned in the above question, but he does not know that it was so.—Being asked, Whether it was the general opinion of the settlement? he said, He cannot say that it was the general opinion, but it was the opinion of a considerable part of the settlement.—Being asked, Whether it was the declared opinion of those that were concerned in the debt, or those that were not? he said, It was the opinion of both parties, at least such of them as he conversed with.—Being asked, Whether he has reason to believe that the interest really paid by the Nabob, upon obligations given, or money lent, did not frequently exceed twelve per cent? he said, Prior to the 1st of August, 1774, he had had reason to believe that a higher interest than twelve per cent was paid by the Nabob on moneys lent to him; but from and after that period, when the last act of Parliament took place in India, he does not know that more than twelve per cent had been paid by the Nabob, or received from him.—Being asked, Whether it is not his opinion that the Nabob has paid more than twelve per cent for money due since the 1st of August, 1774? he said, He has heard that he has, but he does not know it.—Being asked, Whether he has been told so by any considerable and weighty authority, that was like to know? he said, He has been so informed by persons who he believes had a very good opportunity of knowing it.—Being asked, Whether he was ever told so by the Nabob of Arcot himself? he said, He does not recollect that the Nabob of Arcot directly told him so, but from what he said he did infer that he paid a higher interest than twelve per cent.
Mr. Smith being asked, Whether, in the course of trade, he ever sold anything to the Nabob of Arcot? he said, In the year 1775 he did sell to the Nabob of Arcot pearls to the amount of 32,500 pagodas, for which the Nabob gave him an order or tankah on the country of Tanjore, payable in six months, without interest.—Being asked, Whether, at the time he asked the Nabob his price for the pearls, the Nabob beat down that price, as dealers commonly do? he said, No; so far from it, he offered him more than he asked by 1000 pagodas, and which he rejected.—Being asked, Whether, in settling a transaction of discount with the Nabob's agent, he was not offered a greater discount than 12l. per cent? he said, In discounting a soucar's bill for 180,000 pagodas, the Nabob's agent did offer him a discount of twenty-four per cent per annum, saving that it was the usual rate of discount paid by the Nabob; but which he would not accept of, thinking himself confined by the act of Parliament limiting the interest of moneys to twelve per cent, and accordingly he discounted the bill at twelve per cent per annum only.—Being asked, Whether he does not think those offers were made him because the Nabob thought he was a person of some consequence in the settlement? he said, Being only a private merchant, he apprehends that the offer was made to him more from its being a general practice than from any opinion of his importance.
No. 3.
Referred to from p. 38 .
A Bill for the Better Government of the Territorial Possessions and
Dependencies in India.
[ONE OF MR FOX'S INDIA BILLS.]
And be it further enacted by the authority aforesaid, that the Nabob of Arcot, the Rajah of Tanjore, or any other native protected prince in India, shall not assign, mortgage, or pledge any territory or land whatsoever, or the produce or revenue thereof, to any British subject whatsoever; neither shall it be lawful to and for any British subject whatsoever to take or receive any such assignment, mortgage, or pledge; and the same are hereby declared to be null and void; and all payments or deliveries of produce or revenue, under any such assignment, shall and may be recovered back, by such native prince paying or delivering the same, from the person or persons receiving the same, or his or their representatives.
No. 4.
Referred to from pp. 64 and 73 .
(COPY.)
27th May, 1782.
Letter from the Committee of Assigned Revenue, to the President and Select Committee, dated 27th May, 1782; with Comparative Statement, and Minute thereon.
To the Right Honorable LORD MACARTNEY, K.B., President, and Governor, &c., Select Committee of Fort St. George.
MY LORD, AND GENTLEMEN,—
Although we have, in obedience to your commands of the 5th January, regularly laid before you our proceedings at large, and have occasionally addressed you upon such points as required your resolutions or orders for our guidance, we still think it necessary to collect and digest in a summary report those transactions in the management of the assigned revenue which have principally engaged our attention, and which, upon the proceeding, are too much intermixed with ordinary occurrences to be readily traced and understood.
Such a report may be formed with the greater propriety at this time, when your Lordship, &c., have been pleased to conclude your arrangements for the rent of several of the Nabob's districts. Our aim in it is briefly to explain the state of the Carnatic at the period of the Nabob's assignment,—the particular causes which existed to the prejudice of that assignment, after it was made,—and the measures which your Lordship, &c., have, upon our recommendation, adopted for removing those causes, and introducing a more regular and beneficial system of management in the country.
Hyder Ali having entered the Carnatic with his whole force, about the middle of July, 1780, and employed fire and sword in its destruction for near eighteen months before the Nabob's assignment took place, it will not be difficult to conceive the state of the country at that period. In those provinces which were fully exposed to the ravages of horse, scarce a vestige remained either of population or agriculture: such of the miserable inhabitants as escaped the fury of the sword were either carried into the Mysore country or left to struggle under the horrors of famine. The Arcot and Trichinopoly
