An hon. Memberasked, whether the right hon. Baronet was then prepared to answer the question put to him last night by the hon. Member for Shrewsbury.
§ Sir R. Peelobserved, that it might naturally be expected that he had not had much time that day to devote to the subject, but he would proceed to give an answer to the question. A practice had long existed of the East-India Company making advances to the Government for the purpose of carrying on particular affairs. That practice now continued, and the East India Company had recently made advances, and he believed, that he was right in saying, that the East India Government at the present time had made advances to the amount of either 338,000l. or 340,000l. What the Government proposed to do was, to make a re-payment of this sum of somewhat less than 400,000l. to meet the expenses which the East India Company had incurred on behalf of the general Government of the country. Again, on account of the expenditure of the East India Company, in carrying on the war in Affghanistan, the Government intended to make a further advance to the company of two instalments of 200,000l. each, to meet the expenditure of the company in this country. These advances were made and contemplated for some time, and were only a return for the advances so often made by the East India Company to the Government. The whole sum to be paid to the company would be 800,000l., of which nearly 400,000l. would be repayments.
§ Mr. Humewished to know what part of 1021 the expenditure was to be paid by the British Treasury? He understood, that the East-India Company had made an outlay in consequence of the war in the East, which was to be repaid to them.
§ Sir R. Peelreplied, that the expenditure for carrying on the war in China was made for this country, and must be repaid to the company. Of course, it was to be understood, that the advance of the company was to be repaid.