emselves to the committee; namely, whether the company had any right
to territorial acquisitions, and whether it was proper for them to enjoy
a monopoly of trade. Some of the members argued that the company had
a right, while on the other side some maintained that, from the costly
protection afforded it, government had an equitable claim to the
revenues of all territory acquired by conquest. It was the opinion of
the cabinet, that the state did not possess its proper share of the
company's profits, and the chancellor of the exchequer conceived that by
either taking their territorial conquests into the hands of government,
or making them pay largely for keeping that management in their ow a
hands, the state would obtain that wealth of which it stood so much
in need. Chatham's attention was drawn to this subject, but he merely
advised that Beckford should make a motion for examining into the state
of the East India Company, and remained still in the west of England.
This motion was made, and the house resolved itself into a committee of
inquiry, and called for papers. In the meantime the company suggested
an amicable arrangement, and presented a series of demands, among which
were--that the administration should prolong the charter to the year
1800, or to a further term, and to confirm to the company the sole and
exclusive trade of the East Indies for three years at least after the
expiration of the charter granted in the last reign; that it should
agree to an alteration in the inland duty upon tea, with the view of
preventing smuggling; that it should allow a drawback on the exportation
of tea; that it should alter the duties on calicoes and muslins; that
it should consent to some proper methods of recruiting the company's
military forces, and for strengthening their cause in India; that it
should prevent the commanders of the company's ships and others from
conveying any kind of warlike stores clandestinely to the East Indies;
that it should use its strong interposition with the court of France
to obtain large sums of money which the company had expended for the
maintenance and transport of French prisoners to Europe; and that it
should use its strong interposition likewise with the court of Spain
with respect to the Manilla ransom, that the company might obtain
indemnification for the great expenses incurred by that expedition. The
company laid before the house their charters, treaties with the native
sovereigns, letters