southerly of the unwasted provinces were compelled to pay very heavy
rents and tributes, who for a long time before had not paid any
acknowledgment. After this reduction, by the care of Mr. Irwin, one of
the committee, that province was divided into twelve farms. This
operation raised the income of that particular province; the others
remain as they were first farmed. So that, instead of producing only
their original rent of 480,000_l._, they netted, in about two years and
a quarter, 1,320,000_l._ sterling, which would be about 660,000_l._ a
year, if the recovered arrear was not included. What deduction is to be
made on account of that arrear I cannot determine, but certainly what
would reduce the annual income considerably below the rate I have
allowed.

The second account received is the letting of the wasted provinces of
the Carnatic. This I understand is at a growing rent, which may or may
not realize what it promises; but if it should answer, it will raise the
whole, at some future time, to 1,200,000_l._

You must here remark, Mr. Speaker, that this revenue is the produce of
_all_ the Nabob's dominions. During the assignment, the Nabob paid
nothing, because the Company had all. Supposing the whole of the lately
assigned territory to yield up to the most sanguine expectations of the
right honorable gentleman, and suppose 1,200,000_l._ to be annually
realized, (of which we actually know of no more than the realizing of
six hundred thousand,) out of this you must deduct the subsidy and rent
which the Nabob paid before the assignment,--namely, 340,000_l._ a year.
This reduces back the revenue applicable to the new distribution made by
his Majesty's ministers to about 800,000_l._ Of that sum five eighths
are by them surrendered to the debts. The remaining three are the only
fund left for all the purposes so magnificently displayed in the letter