The Works of the Right Honourable Edmund Burke, Vol. 03 (of 12)Burke, Edmund
History
The Works of the Right Honourable Edmund Burke, Vol. 03 (of 12)
Burke, Edmund
Great Britain -- Politics and government -- 1760-1820; Political science -- Early works to 1800
1. To the interest of the debt of 1777, as above. The remainder to be
then equally divided,--one half towards the discharge of the current
interest and principal of the Cavalry Loan, and the other half towards
the discharge of the Company's debt.
When the Cavalry Loan shall be thus discharged, there shall then be paid
towards the discharge of the Company's debt seven lacs.
To the growing interest and capital of the 1777 loan, five lacs.
When the Company's debt shall be discharged, the whole is then to be
applied in discharge of the debt 1777.
If the Nabob shall be prevailed upon to apply the arrears and growing
payments of the Tanjore peshcush in further discharge of his debts, over
and above the twelve lacs of pagodas, we direct that the whole of that
payment, when made, shall be applied towards the reduction of the
Company's debt.
We have laid down these general rules of distribution, as appearing to
us founded on justice, and the relative circumstances of the different
debts; and therefore we give our authority and protection to them only
on the supposition that they who ask our protection acquiesce in the
condition upon which it is given; and therefore we expressly order,
that, if any creditor of the Nabob, a servant of the Company, or being
under our protection, shall refuse to express his acquiescence in these
arrangements, he shall not only be excluded from receiving any share of
the fund under your distribution, but shall be prohibited from taking
any separate measures to recover his debt from the Nabob: it being one
great inducement to our adopting this arrangement, that the Nabob shall
be relieved from all further disquietude by the importunities of his
individual creditors, and be left at liberty to pursue those measures
for the prosperity of his country which the embarrassments of his
situation have hitherto deprived him of the means of exerting. And we
further direct, that, if any creditor shall be found refractory, or
disposed to disturb the arrangement we have suggested, he shall be
dismissed the service, and sent home to England.
The directions we have given only apply to the three classes of debts
which have come under our observation. It has been surmised that the
Nabob has of late contracted further debts: if any of these are due to
British subjects, we forbid any countenance or protection whatever to be
given to them, until the debt is fully investigated, the nature of it
reported home, and our special instructions upon it received.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account