The Court of Directors, after stating the circumstances under which the debts appeared to them to have been contracted, add as follows:--"For these reasons we should have thought it our duty to inquire _very minutely_ into those debts, even if the act of Parliament had been silent on the subject, before we concurred in any measure for their payment. But with the positive injunctions of the act before us to examine into their nature and origin, we are indispensably bound to direct such an inquiry to be instituted." They then order the President and Council of Madras to enter into a full examination, &c., &c. The Directors, having drawn up their order to the Presidency on these principles, communicated the draught of the general letter in which those orders were contained to the board of his Majesty's ministers, and other servants lately constituted by Mr. Pitt's East India Act. These ministers, who had just carried through Parliament the bill ordering a specific inquiry, immediately drew up another letter, on a principle directly opposite to that which was prescribed by the act of Parliament and followed by the Directors. In these second orders, all idea of an inquiry into the justice and origin of the pretended debts, particularly of the last, the greatest, and the most obnoxious to suspicion, is abandoned. They are all admitted and established without any investigation whatsoever, (except some private conference with the agents of the claimants is to pass for an investigation,) and a fund for their discharge is assigned and set apart out of the revenues of the Carnatic. To this arrangement in favor of their servants, servants suspected of corruption and convicted of disobedience, the Directors of the East India Company were ordered to set their hands, asserting it to arise from their own conviction and opinion, in flat contradiction to their recorded sentiments, their strong remonstrance, and their declared sense of their duty, as well under their general trust and their oath as Directors, as under the express injunctions of an act of Parliament. The principles upon which this summary proceeding was adopted by the ministerial board are stated by themselves in a number in the appendix to this speech.