"Vengeance hall fall on thy disdaine, May chance thee lye withred and old, Playning in vaine unto the moon; Care then who lift, for I have done. To caufe thy lovers fighe and fwone; "Now ceafe, my lute; this is the last My lute, be ftill; for I have done." We shall be happy to fee the concluding volumes: and although we are well aware that many will object to this undertaking, that the various extracts, compilations, and felections, which have been published of our poets, rendered it unneceffary, we are equally certain that the editor need not despair of meeting fufficient encouragement; and that very few who make a point of collecting the English claffics, will choose to deny themselves the pleasure of poffeffing the English Anthology. In page 211 Mr. Ritfon informs us that Stephen Duck was a thatcher, we apprehend he is mistaken; for, according to the beft authorities, Jaid Duck was a thrasher. In page 18, in the beautiful lines by Dr. Henry Wotton, Mr. R. reads "What are you when the fun fhall rife." The contrast seems to require us to read the moon.— -We have noticed no other errors of any importance. ART. XXIV. A fhort Hiftory of the Eaft India Company: Exhibiting a State of their Affairs, Abroad and at Home, Political and Commercial: the Nature and Magnitude of their Commerce, and its relative Connection with the Government and Revenues of India; alfo Remarks on the Danger and Impolicy of Innovation, and the practical Means of enfuring all the good Effects of a free Trade to the Manufacturers of Great Britain and Ireland, BRIT. CRIT, VOL. I. MAY 1793. H by by Matter of Regulation, without disturbing the established Sykem, By a Proprietor of East India Stock. No Publisher's name. THIS tract appears to us to prefent a very fair and candid ftatement of the prefent fituation of the East India Company, as well as a clear view of its progreffive increase, from its projection in the reign of Queen Elizabeth. to * The peninfula of India, with its dependencies, forms fo great a proportion of the British dominions, fince the lofs of America, that its hiftory is become no lefs interesting to the public at large, than to the proprietors of its capital stock; and it is particularly fo at this juncture, when the legislature is about to decide, whether the exclufive right of trade, which it has now enjoyed for near two centuries, fhould ceafe, or whether the monopoly fhould be continued by a renewal of the charter for a limited term of years. It feems very clear, that it ought determine, unless it can be proved that the Eaft India Company poffefs the means of carrying on their trade, on more beneficial terms to the public, and to the nation at large (for the interefts of individuals are wholly out of the prefent queftion), than can poffibly be done by perfons trading on feparate funds, and who have no connexion with the collection of thofe revenues by which the trade must be supported. That an exclusive trade is neceffary to the China branch of commerce, we understand is admitted on all hands; and though we do not mean to decide on a question which is merely political, and which is now under the difcuffion of the legislature; yet, judging from the evidence before us, and from the benefits, which experience has manifested, of the trade under its present management, we incline to think, that the experiment of an open commerce to Afia would be dangerous, and that the adventurers who embarked in it on feparate funds, would have cause to regret the poffeffion of a privilege ruinous to themfelves, and a trade irrecoverably loft to the public. It is not, perhaps, generally known, that an open trade was formerly offered to adventurers, as a douceur on a loan to government, though it must be confeffed, it was at a time when the general fyftem of trade was not fo well understood as at prefent. It does not, however, appear with certainty, that even a fingle fhip was fitted out by the feparate traders, though the loan was raifed; and at the time of the union of the two companies, in the reign of Queen Anne, only feven thoufand pounds remained of the capital of two millions; to the extent of which the feparate adventurers were * The firft charter was dated December 31, 1600. authorized authorized to trade, the reft having been embarked by the proprietors in the joint ftock company. Under the new charter, it is proposed to allow an open trade to be carried on in the company's fhips, to a very large, though limited amount ; and as the adventurers will be fubject to none of those risks to which they must be liable, if they fitted out fhips on their own account, and configned their cargoes to be bartered at a cafual market, we think it probable, that, under these restrictions, the adventure will be profitable; yet we know there are perfons whofe commercial knowledge entitles them to attention, who think, that even with this aid, the adventurers will pay dearly for the novelty of the attempt. After a general hiftory of the company, the author of this pamphlet proceeds, firft, to give an account of their 3 per cent. annuities, and then of their territorial poffeffions. It is rather to be wondered, that though thofe annuities always bear an inferior price to the Bank annuities, the commiffioners for the reduction of the national debt have never made any purchases in them; and we are rather inclined to doubt, whether the fmall quantity which is usually brought to market, be the true caufe of this omiffion; we fhould rather conjecture, it may arise from an intention in government to liquidate the whole debt in a bargain for the prefent, or fome future charter. The author admits, that all the fea-ports and fettlements acquired by purchase from the country powers, belong indubitably to the company, in full right for ever, as well as the five Northern Circars and the Jagheer lands; but he decides, in rather too fummary a way (we fufpect) that the provinces which were acquired by conqueft belong to the public; fubject, however, to the debts and expences incurred by the India Company in the acquifition of them. The inftances which are adduced in proof of this, only fhow that the company fubmitted to the power, rather than to the right of the public. Speaking of the Circars, he fays, they are held merely as a farm under the "Nizam," and are on a fimilar footing with the Jagheer "lands." This we apprehend not to be an accurate statement. The Circars are not held as a farm, but on a grant obtained by Lord Clive from the Subah, on condition of the company paying him an annual refcufh, or tribute, of feven lacks. The Jagheer lands were a free grant, or gift of friendship from the Nabob, as a mark of his gratitude, for the important fervices rendered him by the company. We have hitherto foreborn to give any extracts from this work, because it is in itself but a Summary Hiftory of the East India Company, and because we would recommend the whole to the perufal of all perfons who are interested in the commerce or revenues of India. As, however, an erroneous opinion has prevailed, that the company's chartered rights, their corporate capacity, and liberty of trading with a joint ftock, are one and all determinable in 1794 (unless their charter be previously renewed), we fhall conclude with a fhort paffage taken from the 5th chapter, to fhow what are their temporary rights, and what are vested in them in perpetuity; whence it may be conjectured how far the latter, which extend over the principal feats of trade, will ftand in the way of laying open the commerce to individuals with any prospect of fuccefs: "Their temporary rights confit, firft, of the fole and exclufive trade with India and other parts within the limits defcribed in their charter, fo that none other of the king's fubjects can go thither or trade there, except it be by leave of the company. And fecondly, they have the adminiftration of the government and revenues of the territories in India acquired by their conquefts, during their term in the exclufive trade, fubject nevertheless to the various cheques and reftrictions contained in the feveral acts of parliament which veft that adminiftration in them. Thefe feveral temporary rights are determinable by parliament in 1794, under the notice given by order of the House of Commons, in the year 1791. "The rights which they poffefs in perpetuity are, "To be a body corporate and politie, with perpetual fucceffion. "To purchase, acquire, and difpofe at will of lands and tenements in Great Britain. "To make fettlements to any extent within the limits of their exclufive trade, build forts and fortifications, appoint governors, erect courts of judicature, coin money, raife, train, and mufter forces at fea and land, repel wrongs and injuries, make reprizals on the invaders or diflurbers of their peace, and continue to trade within the fame limits, with a joint frock for ever, although their exclufive right of trading shall be determined by parliament.' ART. XXV. The Real Grounds of the present War with THE Is. 6d. HE author of the protest against Paine's Rights of Man, and other valuable publications, here addrefles the public on a principle in which we heartily coincide with him. He fays, the fuccefs of a free people in war depends greatly on "their general conviction of its importance, its neceffity, and its juftice." To eftablish this conviction on rational grounds is the object of this tract. Mr. Bowles begins, by diftinguishing the prefent evil that Europe experiences, from all other wars and politica Iconvulfions. He ་་ He remarks that "the diftinguishing feature of the French Revolution has been an endeavour to fubvert all legitimate authority. The fundamental principle of this remarkable event, is to abfolve mankind from all ties of duty and allegiance to the established government, whatever it may be, and "in the room thereof to fubftitute the anarchy of popular "controul." The leffon, he obferves, would be fufficiently awful if confined to France alone, but the contagious nature of fuch principles, and the ambitious defire of the French to interfere in other governments, render it more immediately neceffary for the whole of Europe to take the alarm. "The "laws of nations are no more refpected by them, than those "of municipal authority or of moral obligation. They con"fider their own wild and ungovernable will as paramount to "the most folemn treaties; and by a vague and fictitious re"ference to natural rights, they pretend not only to fet afide "the most pofitive ftipulations, but also to abfolve other na"tions from their authority." The author then takes occafion to deplore the injury done to the cause of real liberty, by the exceffes of licentioufnefs; and he obferves, very folidly, that "anarchy is much more hoftile to genuine freedom, and much further removed from "it than defpotifm itfelf. The latter reftrains mankind from "being free; the former renders them unworthy and unfit to be fo the one checks, indeed, the progrefs of liberty, the "other corrupts and deftroys its effence." The great acceffion of territory made by France, though much of it has fince been loft, was, at the commencement of the war, a very important confideration for the rest of Europe, and is fo reprefented here. The daring decree of November 19, 1792, fince refcinded, by the humiliation of that pride which fo much demanded correction, is noticed and argued upon at large, as being, what it furely was, an act of general hostility; and the falfe explanations of the French minifter are properly exposed: "There is," fays this writer," abundant reason to "conclude, that the convention was encouraged the fooner to pafs this decree, by a rafh confidence it repofed in thofe unworthy members of the British name, who reprefented, "according to their traitorous wifhes, though in direct con"tradiction to the fact, that England was ripe for a revolt, "and eager to adopt the principles, and to follow the example of France." It is obferved, that even after the explanation, the existence of the cafe which is to juftify the interference of France, is referred only to the judgment of France, and that, confequently, the limitation amounts to nothing. Such a claim, with power fufficient to enforce it, would have rendered France H 3 the |
