Warren Hastings having been particularly distinguished for wars and conquests, was the subject of unmitigated censure. Great was the regret and moral indignation felt in this country at the atrocities committed in India under the shield of the British name; and so strong, indeed, was the feeling that such policy ill represented the dignity and honour of England, that many efforts were made to abolish the Court of Directors altogether, and to vest the government of India in the hands of commissioners appointed by Parliament. In November 1783 Mr. Fox, one of the secretaries of state, introduced a bill into Parliament for the purpose of vesting the affairs of the Company in seven principal directors or commissioners, with whom should rest the appointment of all its officers and servants, the rights of peace and war, and the entire disposal of the revenue. To such a measure the Company offered an uncompromising opposition. But Mr. Fox introduced another bill, still more decisive, for preventing arbitrary and despotic proceedings in the administration of the territorial possessions, for prohibiting the Company from making war unless for self-defence, and from acquiring or exchanging territories, and for otherwise restraining the free action of the Company. The principal question involved in these bills was, What right has the state to interfere with a chartered company? Can it touch the statutes of the Bank of England, of the universities, or of any corporation? The East India Company did its utmost to resist such an interference of the state, and Mr. Pitt joined in opposing it. After much discussion the bill passed in the House of Commons, but it was rejected in the Lords. The subject, however, was of too great importance to rest as it was; and, on the following year, one of the first measures introduced by Mr. Pitt was a bill for the better regulation and management of the affairs of the East India Company and of the British possessions in India, and for establishing a court of judicature for the more speedy and effectual trial of persons accused of offences committed in the East Indies, which became law. It was then that the Board of Control was established, or a board of commissioners, consisting of six members of the Privy Council, with instructions to check, superintend, and control all acts, operations, and concerns which in any wise relate to the civil or military government or revenues of the territories and possessions of the East India Company. The preamble of the act having formally declared that to pursue schemes of conquest and extension of dominion in India was repugnant to the wish, the honour, and policy of the nation, it expressly enacted that the governor-general should be prohibited from commencing hostilities or entering into any treaty for making war against any of the princes of the country, unless such princes should have begun hostilities or made preparations for hostilities against the Company 933 Geo. III. c. 52. or any prince or state dependent upon or under the guarantee of the Company.10 An estimate of the annual produce and condition of the principal manufactures of Great Britain was published in 1783, and is given in Macpherson's Annals of Commerce' as follows:Woollen, 16,800,000l.; leather, 10,500,000l.; flax, 1,750,000l.; hemp, 890,000l.; glass, 630,000l.; paper, 780,000l.; porcelain, 1,000,000l.; silk, 3,350,000l.; cotton, 960,000l.; lead, 1,650,000l.; tin, 1,000,000l.; iron, 8,700,000l.; steel and plating, 3,400,000l.; smaller manufactures, 5,250,000l. Total, 56,660,000l. There are no accounts of the value of rateable property in England and Wales at this period, but in 1785 the aggregate property insured in England and Wales was 133,777,000l., though in 1780 only nine insurance companies were left out of twenty-two founded prior to that date. In 1784 the expenditure for the relief of the poor only was 2,004,2381., it being at the rate of 48. 31d. per head of the population." There were men in England at this time who, whilst building colossal fortunes for themselves, were carrying the trade and fair name of England all over the world. London had her Coutts, Hoares, Barclay, and Baring. In 1778 Anselm Mayer Rothschild founded his banking house at Frankfort, and soon after his son Nathan established himself first at Manchester and afterwards in London, where he founded the first branch of the Rothschild bank. Liverpool had her Heywood and Cunliffe; Manchester her Peel and Potter; Leeds her Gott and Marshall; Glasgow her Tennant, Monteith, and Dale; Birmingham her Boulton and Watts; Bristol her Mile-men distinguished for their judicious management of business, eminently shrewd in observation, famous for their charitable dispositions, and founders of many of our noblest works of benevolence; plain-spoken, it may be, and possessing little refinement in taste, yet endowed with enviable good sense, and, above all, exemplary for their commercial integrity. to 24 Geo. III. sess. 2, c. 25. "See return on local taxation, 281 of 1871, and Mr. Goschen's report on the same, 470 of 1871. APPENDIX. Treaty of Commerce and Navigation between France and England, signed at Versailles, September 26, 1786. ARTICLE VI. The two high contracting parties have thought proper to settle the duties on certain goods and merchandises, in order to fix invariably the footing on which the trade therein shall be established between the two nations, in consequence of which they have agreed upon the following tariff, viz. :— 1. The wines of France imported directly from France into Great Britain shall in no case pay any higher duties than those which the wines of Portugal now pay. The wines of France, imported directly from France into Ireland, shall pay no higher duties than those which they now pay. 2. The vinegars of France, instead of 671. 5s. 3d. and 13ths of a penny sterling per tun, which they now pay, shall not, for the future, pay in Great Britain any higher duties than 327. 188. 10d. aud 18ths of a penny sterling per tun. 3. The brandies of France, instead of 9s. 6d. and 13ths of a penny sterling, shall for the future pay in Great Britain only 7s. per gallon making four quarts English measure. 4. Oil of olives coming directly from France shall for the future pay no higher duties than are now paid for the same from the most favoured nations. 5. Beer shall pay reciprocally a duty of thirty per cent. ad valorem. 6. The duties on hardware, cutlery, cabinet ware, turnery, and also all works, both heavy and light, of iron, steel, copper, and brass shall be classed, and the highest duty shall not exceed ten per cent. ad valorem. 7. All sorts of cotton manufactured in the dominions of the two sovereigns in Europe, and also woollens, whether knit or wove, including hosiery, shall pay in both counties an import duty of twelve per cent. ad valorem, all manufacture of cotton or wool mixed with silk excepted, which shall remain prohibited on both sides. 8. Cambrics and lawns shall pay, in both countries, an import duty of 5s., or six livres tournois, per demi-pièce of 7 yards English measure, and linens made of flax or hemp manufactured in the dominions of the two sovereigns in Europe shall pay no higher duties, either in Great Britain or France, than linens manufactured in Holland or Flanders imported into Great Britain now pay. And linen made of flaxen hemp, manufactured in Ireland or France, shall reciprocally pay no higher duties than linens manufactured in Holland, imported into Ireland, now pay. 9. Saddlery shall reciprocally pay an import duty of fifteen per cent. ad valorem. 10. Gauzes of all sorts shall reciprocally pay ten per cent. ad valorem. 11. Millinery made up of muslin, lawn, cambric, or ganze of every kind, or of any other article admitted under the present tariff, shall pay reciprocally a duty of twelve per cent. ad valorem, and if any articles shall be used therein which are not specified in the tariff they shall pay no higher duties than those paid for the same articles by the most favoured nations. 12. Porcelain, earthenware, and pottery shall pay reciprocally twelve per cent. ad valorem. 13. Plate glass and glass ware in general shall be admitted, on each side paying a duty of twelve per cent. ad valorem. His Britannic Majesty reserves the right of countervailing, by additional duties on the under-mentioned merchandises, the internal duties actually imposed upon the manufacture or the import duties which are charged on the raw material—namely, on all linens or cottons, stained or printed, on beer, glass ware, plate glass, and iron. And his Most Christian Majesty also reserves the right of doing the same with regard to the following merchandises of cotton, iron, and beer. And for the better securing the due collection of the duties payable ad valorem which are specified in the above tariff, the said contracting parties will concert with each other as well the form of the declaration to be made as also the proper means of preventing fraud with respect to the real value of the said goods or merchandises. But if it shall appear that any mistakes have inadvertently been made in the above tariff contrary to the principles on which it is founded, the two sovereigns will concert with good faith upon the means of rectifying the same. VII. The duties above specified are not to be altered but by mutual consent; and the merchandises not above specified shall pay, in the dominions of the two sovereigns, the imports and exports duties payable in each of the said dominions by the most favoured European nations, at the time the present treaty hears date; and the ships belonging to the subjects of the said dominions shall also respectively enjoy therein. all the privileges and advantages which are granted to those of the most favoured European nations. APPENDIX. Treaty of Commerce and Navigation between France and England, signed at Versailles, September 26, 1786. ARTICLE VI. The two high contracting parties have thought proper to settle the duties on certain goods and merchandises, in order to fix invariably the footing on which the trade therein shall be established between the two nations, in consequence of which they have agreed upon the following tariff, viz. : 1. The wines of France imported directly from France into Great Britain shall in no case pay any higher duties than those which the wines of Portugal now pay. The wines of France, imported directly from France into Ireland, shall pay no higher duties than those which they now pay. 2. The vinegars of France, instead of 671. 5s. 3d. and ths of a penny sterling per tun, which they now pay, shall not, for the future, pay in Great Britain any higher duties than 321. 18s. 10d. and ths of a penny sterling per tun. 3. The brandies of France, instead of 9s. 6d. and ths of a penny sterling, shall for the future pay in Great Britain only 78. per gallon making four quarts English measure. 4. Oil of olives coming directly from France shall for the future pay no higher duties than are now paid for the same from the most favoured nations. 5. Beer shall pay reciprocally a duty of thirty per cent. ad valorem. 6. The duties on hardware, cutlery, cabinet ware, turnery, and also all works, both heavy and light, of iron, steel, copper, and brass shall be classed, and the highest duty shall not exceed ten per cent. ad valorem. 7. All sorts of cotton manufactured in the dominions of the two sovereigns in Europe, and also woollens, whether knit or wove, including hosiery, shall pay in both counties an import duty of twelve per cent. ad valorem, all manufacture of cotton or wool mixed with silk excepted, which shall remain prohibited on both sides. 8. Cambrics and lawns shall pay, in both countries, an import duty of 5s., or six livres tournois, per demi-pièce of 73 yards English measure, and linens made of flax or hemp manufactured in the dominions of the two sovereigns in Europe shall pay no higher duties, either in Great Britain or France, than linens manufactured in Holland or Flanders imported into Great Britain now pay. And linen made of flaxen hemp, manufactured in Ireland or France, shall reciprocally pay no higher duties than linens manufactured in Holland, imported into Ireland, now pay. 9. Saddlery shall reciprocally pay an import duty of fifteen per cent. ad valorem. 10. Gauzes of all sorts shall reciprocally pay ten per cent. ad valorem. 11. Millinery made up of muslin, lawn, cambric, or ganze of every kind, or of any other article admitted under the present tariff, shall |