The Life of Robert, Lord Clive, Vol. 3 (of 3): Collected from the Family Papers Communicated by the Earl of PowisMalcolm, John
History
The Life of Robert, Lord Clive, Vol. 3 (of 3): Collected from the Family Papers Communicated by the Earl of Powis
Malcolm, John
Clive, Robert Clive, Baron, 1725-1774; India -- History -- British occupation, 1765-1947
Such was the termination of these Parliamentary proceedings, so far
as regarded Lord Clive. It may be proper to remark, that in the
meanwhile various bills regarding India affairs were pushed forward.
The plan proposed and carried through by the Government, at that
important crisis, though it was intended to be a final settlement of
the constitution of the Company's government, and though it contained
many changes, and some very beneficial regulations, was still only
a palliative. A loan of 1,400,000_l._ was granted to relieve the
Company from their immediate difficulties; the Company's dividend
being restrained to 6 per cent. until it was repaid, and to 7 per
cent. until their bond debt was reduced to 1,500,000_l._ The public
was not to participate in the profits of the Company till this latter
event, when three fourths of the net surplus profits of the Company
at home, above the sum of 8 per cent. on their capital stock, was to
be paid into the Exchequer for the use of the public, the remaining
fourth to be set aside for reducing the Company's debt, and other
purposes specified: the territorial acquisitions to remain with the
Company for six years more: the Court of Directors were in future to be
elected for four years, six members going out annually: no Proprietor
was to vote at the election who had not possessed his stock for twelve
months, and the qualification was to be 1000_l._ instead of 500_l._:
a new Court of Justice was established at Calcutta, consisting of a
Chief Justice and three Puisne Judges; and a superiority given to the
Presidency of Bengal over the others. The Council was to consist of a
Governor-General and four Members, to be named in the first instance by
Parliament; and, in pursuance of the act, Mr. Hastings was appointed
Governor-General, with General Clavering, Colonel Monson, Mr. Barwell,
and Mr. Francis in Council.
It is clear that these enactments were quite insufficient to remedy the
evils complained of; and India was accordingly doomed for several years
more to pay the penalty of this timid and inefficient legislation.
The truth is, that the Ministry were conscious that their knowledge
of Indian affairs was extremely imperfect; and that the task of
legislation for a distant empire, if not beyond their powers, at least
required more leisure than they were able or disposed to pay to it. The
spirit of the times, too, was adverse to bold or extensive legislation,
and delighted more in temporary expedients and palliatives. America
could hardly have remained much longer united to Britain; but this
temper, common to many successive administrations, had much influence
on the time and manner of the separation.
Public-domain text, read in full here on John Shaqi.
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