But if that course should be thought too indulgent, why do they
not take that assignment with such interest to themselves as they pay to
others, that is, eight per cent? Or if it were thought more advisable
(why it should I know not) that he must borrow, why do not the Company
lend their own credit to the Nabob for their own payment? That credit
would not be weakened by the collateral security of his territorial
mortgage. The money might still be had at eight per cent. Instead of any
of these honest and obvious methods, the Company has for years kept up a
show of disinterestedness and moderation, by suffering a debt to
accumulate to them from the country powers without any interest at all;
and at the same time have seen before their eyes, on a pretext of
borrowing to pay that debt, the revenues of the country charged with an
usury of twenty, twenty-four, thirty-six, and even eight-and-forty per
cent, with compound interest,[48] for the benefit of their servants. All
this time they know that by having a debt subsisting without any
interest, which is to be paid by contracting a debt on the highest
interest, they manifestly render it necessary to the Nabob of Arcot to
give the private demand a preference to the public; and, by binding him
and their servants together in a common cause, they enable him to form a
party to the utter ruin of their own authority and their own affairs.
Pages:
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100