It is, indeed, morally certain that
persons who had money to remit must have made the same calculation which
has been made by the directions of your Committee, and the result must
have been equally clear to them,--which is, that, instead of realizing
two shillings and twopence the rupee on their subscription, as they
proposed, they could never hope to see more than one shilling and
ninepence. This calculation probably shook the main pillar of the
project of April. But, on the other hand, as the subscribers to the
second scheme can have no certain assurance that the Company will accept
bills so far exceeding their allowance in this particular, the necessity
of remitting their fortunes may beat them back to their old ground. The
Danish Company was the only means of remitting which remained. Attempts
have been made with success to revive a Portuguese trade for that
purpose. It is by no means clear whether Mr. Hastings and his colleagues
will adhere to either of the foregoing plans, or, indeed, whether any
investment at all to that amount can be realized; because nothing but
the convenience of remitting the gains of British subjects to London can
support any of these projects.
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