The right hon. Gentleman spoke of the Indian debt coming upon the people of this country, expressing the opinion that if the Government of India were transferred to the Crown--which assuredly it ought to be--the debt ought so to be transferred. The debt is not in the present Budget, indeed, but it will certainly come before the House. I have already referred to a memorable speech of the late Sir Robert Peel on this subject, in 1842, just after he had come into office, and when, finding the country left by the Whigs with an Exchequer peculiarly discouraging to a Chancellor of the Exchequer, he was about to propose that temporary income-tax which has since become permanent. He said, after referring to the affairs of Canada and China-- 'For the purpose of bringing before the House a full and complete view of our financial position, as I promised to do, I feel it to be my duty to refer to a subject which has of late occupied little attention in the House, but which I think might, with advantage to the public, have attracted more of their regard--I refer to the state of Indian finance, a subject which formerly used to be thought not unworthy of the consideration of this House. I am quite aware that there may appear to be no direct and immediate connexion between the finances of India and those of this country; but that would be a superficial view of our relations with India which should omit the consideration of this subject. Depend upon it, if the credit of India should become disordered, if some great exertion should become necessary, then the credit of England must be brought forward to its support, and the collateral and indirect effect of disorders in Indian finances would be felt extensively in this country. Sir, I am sorry to say that Indian finance offers no consolation for the state of finance in this country. I hold in my hand an account of the finances of India, which I have every reason to believe is a correct one. It is made up one month later than our own accounts-- to the 5th of May. It states the gross revenue of India, with the charges on it; the interest of the debt; the surplus revenue, and the charges paid on it in England; and there are two columns which contain the net surplus and the net deficit. In the year ending May, 1836, there was a surplus of 1,520,000_l_. from the Indian revenue. In the year ending the 5th of May, 1837, there was a surplus of 1,100,000_l_., which was reduced rapidly in the year ending May, 1838, to one of 620,000_l_. In the year ending the 5th of May, 1839, the surplus fell to 29,000_l_.; in the year ending the 5th of May, 1840, the balance of the account changed, and so far from there being any surplus, the deficit on the Indian revenue was 2,414,000_l_. I am afraid I cannot calculate the deficit for the year ending May, 1841, though it depends at present partly on estimate, at much less than 2,334,000_l_.