The Works of the Right Honourable Edmund Burke, Vol. 03 (of 12) by Edmund Burke
page 49 of 516 (09%)
page 49 of 516 (09%)
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which, it seems, will reduce it again to the lower standard of
1,400,000_l._ Failing in all my attempts, by a direct account, to ascertain the extent of the capital claimed, (where in all probability no capital was ever advanced,) I endeavored, if possible, to discover it by the interest which was to be paid. For that purpose, I looked to the several agreements for assigning the territories of the Carnatic to secure the principal and interest of this debt. In one of them,[28] I found, in a sort of postscript, by way of an additional remark, (not in the body of the obligation,) the debt represented at 1,400,000_l._: but when I computed the sums to be paid for interest by instalments in another paper, I found they produced an interest of two millions, at twelve per cent; and the assignment supposed, that, if these instalments might exceed, they might also fall short of, the real provision for that interest.[29] Another instalment-bond was afterwards granted: in that bond the interest exactly tallies with a capital of 1,400,000_l._:[30] but pursuing this capital through the correspondence, I lost sight of it again, and it was asserted that this instalment-bond was considerably short of the interest that ought to be computed to the time mentioned.[31] Here are, therefore, two statements of equal authority, differing at least a million from each other; and as neither persons claiming, nor any special sum as belonging to each particular claimant, is ascertained in the instruments of consolidation, or in the installment-bonds, a large scope was left to throw in any sums for any persons, as their merits in advancing the interest of that loan might require; a power was also left for reduction, in case a harder hand, or more scanty funds, might be found to require it. Stronger grounds for a presumption of |
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