dian territory, shall
take on itself all the obligations of the said company, of whatever
description; and that the said company shall receive from the revenues
of the said territory such a sum, and paid in such a manner as
parliament shall enact: That it is expedient that the governments of
the British possessions in India be entrusted to the said company,
under such conditions and regulations as parliament shall enact, for the
purpose of extending the commerce of this country, and of securing the
good government, and promoting the moral and religious improvement
of the people of India." These resolutions were agreed to without any
opposition; and on the 5th of July they passed the lords without a
division, although they were sternly opposed by Lord Ellenborough, who
denounced the whole scheme as being a crude and ill-digested plan, the
offspring of unfounded theories, formed by men who knew nothing, and
desired to know nothing of India. A bill was subsequently brought
into the house of commons founded on the resolutions, and, after some
unsuccessful motions of amendment, was carried. In the upper house Lord
Ellenborough renewed his opposition, and moved, "That all provisions
in the bill, which went to alter the existing laws in the East Indian
presidencies, should be omitted." This amendment, however, was not
pressed to a division; and the bill was finally passed. One of the
greatest advantages which the public gained by this important measure,
was that which opened a rich field for the enterprise and industry of
our merchants by destroying the monopoly of the trade in tea. Facilities
for conducting this branch of commerce, together with a considerable
relief from taxation on the article of tea, was given try a subsequent
bill for regulating its importation. It must be confessed, indeed, that
the adoption of this measure by parliament was highly beneficial to
the interests of the community at large. By it the long and complicated
account between commerce and territory was settled; the pernicious union
of imperial and economical functions in the body of proprietors of East
India stock was at an end; every office under the company was thrown
open to British subjects without distinction, and the whole of India was
opened to European enterprise and European capital. A grand feature of
the bill, also, was that which provided for extending the influence and
utility of the Anglo-Indian church.

ABOLITION OF SLAVERY IN