The Company's trade is so much extended of late years beyond its former limits, that its power of borrowing on annuities and bonds ought also to have been increased; for if six millions was thought reasonable forty or fifty years ago, the publick ought now by the same parity of reason to allow at least eight or ten millions to be borrowed under seal, especially as the wealth of the nation, and of consequence the market for borrowing has so greatly increased during that period. The expensive wars which the Company carried on for many years, obliged them, for want of cash, or a power of borrowing, to diminish both their exports and imports to the great prejudice of the nation; so that the kingdom in general has no reason to applaud the wisdom of that law which retrained the Company to six millions. Besides, we have of late years extended our China trade beyond any thing that was ever attempted in former times, insomuch that above _three millions_ sterling is now invested in teas alone. It is impossible that we could either have carried on these wars which have ended with so much success, or have extended our commerce and the exportation of home commodities to the amazing degree we have done, if the statutes restricting our borrowing under seal had been understood to prohibit the using our credit in the purchase of goods. The debts due by the Company at present, exclusive of its bonds and annuities, are particularly set forth in an account delivered in by order of the House of Commons, the particulars of which debts are these: For customs on goods, sold and unsold, now in England, £ 1,200,605 The customs are not payable till the goods are sold, and even as to those sold, a long delay of payment is always allowed. The arrear of customs on goods sold, is at present about 300,000_l._ or 400,000_l._ £ To what owing for silver and to sundrys, with interest thereon, 581,756 The greatest part of this debt is due to the bank of England, as the price of silver bought from the bank for exportation, several years ago. The Company never granted any security under their seal for this debt, more than for the price of other goods bought on credit; and this debt stands at this day upon the footing of a simple entry in the Company's books, and in the books of the Bank, as a sum due for the price of silver, and the Bank have willingly accepted interest at 4 _per cent._ and have indulged the Company with a delay of payment. £ To the amount of bills of exchange drawn from India, unpaid, with interest, 338,000 To freight and demurage, 305,000 To tradesmens bills in the department of the committee of shipping, 155,909