For several years Benfield appeared as the chief proprietor, as well as
the chief agent, director, and controller of this system of debt. The
worthy chairman of the Company has stated the claims of this single
gentleman on the Nabob of Arcot as amounting to five hundred thousand
pound.[58] Possibly at the time of the chairman's state they might have
been as high. Eight hundred thousand pound had been mentioned some time
before;[59] and, according to the practice of shifting the names of
creditors in these transactions, and reducing or raising the debt itself
at pleasure, I think it not impossible that at one period the name of
Benfield might have stood before those frightful figures. But my best
information goes to fix his share no higher than four hundred thousand
pounds. By the scheme of the present ministry for adding to the
principal twelve per cent from the year 1777 to the year 1781, four
hundred thousand pounds, that smallest of the sums ever mentioned for
Mr. Benfield, will form a capital of 592,000_l._ at six per cent. Thus,
besides the arrears of three years, amounting to 106,500_l._, (which, as
fast as received, may be legally lent out at twelve per cent,) Benfield
has received, by the ministerial grant before you, an annuity of
35,520_l._ a year, charged on the public revenues.
Our mirror of ministers of finance did not think this enough for the
services of such a friend as Benfield.
Pages:
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120