--Being asked, Whether he has reason to
believe that the interest really paid by the Nabob, upon obligations
given, or money lent, did not frequently exceed twelve per cent? he
said, Prior to the 1st of August, 1774, he had had reason to believe
that a higher interest than twelve per cent was paid by the Nabob on
moneys lent to him; but from and after that period, when the last act of
Parliament took place in India, he does not know that more than twelve
per cent had been paid by the Nabob, or received from him.--Being asked,
Whether it is not his opinion that the Nabob has paid more than twelve
per cent for money due since the 1st of August, 1774? he said, He has
heard that he has, but he does not know it.--Being asked, Whether he has
been told so by any considerable and weighty authority, that was like to
know? he said, He has been so informed by persons who he believes had a
very good opportunity of knowing it.--Being asked, Whether he was ever
told so by the Nabob of Arcot himself? he said, He does not recollect
that the Nabob of Arcot directly told him so, but from what he said he
did infer that he paid a higher interest than twelve per cent.
Mr. Smith being asked, Whether, in the course of trade, he ever sold
anything to the Nabob of Arcot? he said, In the year 1775 he did sell to
the Nabob of Arcot pearls to the amount of 32,500 pagodas, for which the
Nabob gave him an order or tankah on the country of Tanjore, payable in
six months, without interest.
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