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It is probably
on account of the previous interest of eight per cent that the value of
the rupee on this scheme is reduced. Mr. Hastings and his colleagues
announce to Lord Macartney no other than the foregoing alteration in
their plan.
It is discouraging to attempt any sort of observation on plans thus
shifting their principle whilst their merits are under examination. The
judgment formed on the scheme of April has nothing to do with the
project of May. Your Committee has not suppressed any part of the
reflections which occurred to them on the former of these plans: first,
because the Company knows of no other by any regular transmissions;
secondly, because it is by no means certain that before the expiration
of June the Governor-General and Council may not revert to the plan of
April. They speak of that plan as likely to be, or make a part of one
that shall be, _permanent_. Many reasons are alleged by its authors in
its favor, grounded on the state of their affairs; none whatever are
assigned for the alteration.


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