Indian Finances In the Days of the Company

Parliament now passed the Regulating Act which had in view five fundamental objects namely first the improvement of the constitution of the Court of Proprietors ; second the remodelling of the Court of Directors I third the establishment of a Court of Justice in Bengal capable of protecting the people of India from oppression ; fourth the establishment of a Council General in Bengal ; and fi [...] The" 59th Seddon provided for the application of the surplus of the teititorial revenues and home-profits in repayment of the capital of public funds created for the Company; and any further surplus was to be paid into the Exchequer "II THE FINANCIAL SYSTEM 17 the commerce of the Company to the payment of the like rates customs and duties as that carried on by private traders while the 67th Se [...] The following matters were in particular considered in this department : The various heads of revenue and expenditure in all their details the loans and other means adopted for the supply of the treasuries in India the remittances required for the repayment of territorial advances by the Home Treasury the appropriation of the surplus funds the working of banks in India the conduct of the mi [...] The business transacted in the Revenue Department related principally to the revision of despatches proposed to be sent to the several goverments in India concerning the adjustments of land assessments the realisation of the revenue so assessed and the general operation of the revenue regultions on the condition of the people. [...] In 1823 the Governor-General in Council of Bengal expected a surplus in the budget of the next year and intimated to the Court his desire to devote a portion of it to the amelioration of the condition of the people the extension of useful knowledge and tle execution of public works in the country.' The Directors in the course of their reply reminded the Bengal Government that the existence