s not included. What deduction is to be
made on account of that arrear I cannot determine, but certainly what
would reduce the annual income considerably below the rate I have
allowed.

The second account received is the letting of the wasted provinces of
the Carnatic. This I understand is at a growing rent, which may or may
not realize what it promises; but if it should answer, it will raise the
whole, at some future time, to 1,200,000_l._

You must here remark, Mr. Speaker, that this revenue is the produce of
_all_ the Nabob's dominions. During the assignment, the Nabob paid
nothing, because the Company had all. Supposing the whole of the lately
assigned territory to yield up to the most sanguine expectations of the
right honorable gentleman, and suppose 1,200,000_l._ to be annually
realized, (of which we actually know of no more than the realizing of
six hundred thousand,) out of this you must deduct the subsidy and rent
which the Nabob paid before the assignment,--namely, 340,000_l._ a year.
This reduces back the revenue applicable to the new distribution made by
his Majesty's ministers to about 800,000_l._ Of that sum five eighths
are by them surrendered to the debts. The remaining three are the only
fund left for all the purposes so magnificently displayed in the letter
of the Board of Control: that is, for a new-cast peace establishment, a
now fund for ordnance and fortifications, and a large allowance for what
they call "the splendor of the Durbar."

You have heard the account of these territories as they stood in 1782.
You have seen the _actual_ receipt since the assignment in 1781, of
which I reckon about two years and a quarter productive. I have stated
to you the expectation from the wasted part. For realizing all this you
may value yourselves on the vigor and diligence of a governor and
committee that have done so much. If these hopes from the committee are
rational, remember that the committee is no more. Your ministers, who
have formed their fund for these debts on the presumed effect of the
committee's management, have put a complete end to that committee. Their
acts are rescinded; their leases are broken; their renters are
dispersed. Your ministers knew, when they signed the death-warrant of
the Carnatic, that the Nabob would not only turn all these unfortunate
farmers of revenue out of employment, but that he has denounced his
severest vengeance against them, for acting under British authority.
With