Lords Sitting of 2 March 1807

MINUTES.
Lord Grenvillepresented a message from his majesty respecting the treaty with Prussia, and an advance subsidy. (see House of Commons). On the motion of lord Granville, his majesty's message was ordered to be taken into consideration to-morrow, and the lords to be summoned.—On the first reading of the bill for repealing so much of the act relating to the South Sea company as confers on that company an exclusive right to trade to certain parts of South America, lord Redesdale presented a petition from the South Sea Company, praying to be heard by counsel
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against the bill. Lord Auckland declared his intention of opposing any motion for the hearing of counsel. The bill before the house was one which did not in any Manner call upon the house to hear counsel. The South-Sea company, although legally entitled to an exclusive trade to a great part of South America, had not for many years employed a single vessel in that trade. Conquests having been recently made by his majesty's arms upon that continent, a large capital had been embarked in the trade to South America, upon the supposition of its being perfectly legal. It had since been discovered that it was not so, and that the legal right was vested in the South-Sea Company: but under all the circumstances of the case, he could not conceive that a doubt could exist as to the policy and expediency of the present bill. Lord Redesdale did not mean to pledge himself as to any opinion upon the subject, but conceived that the petitioners having legal rights which would be affected by this bill, were entitled to be heard by counsel. Lord Auckland gave notice, that he should move the second reading of the bill to-morrow, if the printed copies of it were then on the table. Conceiving the hearing of counsel to be to totally unnecessary, he should oppose any motion for that purpose. The petition was ordered to lie on the table.