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every transaciion from the highest to the lowest; in mercantile oncs for instance, it is very conspicuous; when a merchant sells goods, he states the price at so many pounds, or parts of a pound sterling, the invoice is extended so many pounds, the bill is drawn in the same words, and, when it becomes due, it is paid by simbols representing so many pounds sterling; and whether these be guineas, shillings, or bank notes, they are always taken at the exact proportions of the standard unit they are issued to represent. In the same manner, when a man, who has a property in lands or houses, wishes to sell any part of that property, he states the price at so many pounds sterling, the purchaser offers so many pounds sterling, and when he has purchased, he lets them at so many pounds of yearly rent. When the premier brings forward his budget, he states the debt of the nation at so many pounds ster. ling; the loans required at so many pounds sterling; the taxes to pay them, in the same language ; and, it was in the course of inaking the necessary calculations, that å glimpse of the existence of an ideal standard of value struck the comprehensive and enlightencd mind of that able and ever to be lamented statesman, the late Mr. Pitt; this appears in many of his statements, and his not tracing it farther must be impted solely to the momentous matters he had constantly to attend to.

In barter, or the exchange of one commodity for another, without the intervențion of coins or tokens, a standard unit appears equally conspicuous and equally necessary; witness the case of the blacks already quoted. In this country, many bargains are yet made in the same way, the value of the goods on each side is ascer. tained by fixing the number of pounds sterling they are conceived equal to; a balance is then struck, and if there is any difference, it alone is settled by coins or tokens.

The very circumstance, allowed by all these writers, that gold and silver vary in value themselves, is a most convincing proof that there exists another standard of value, else how could the variation in their value be ascertained; and what this standard is, may clearly be seen by the general answer to the question,, What is the price of gold bullion! It is four pounds, four pounds one shilling, or four pounds two shillings per ounce, according to the fluctuation of the market; but, look to these writers for a definition of the term, pound, they tell you that it is an imaginary coin representing a certain fixed quantity of gold or silver, the invariable standards. This certainly bears absurdity on the face of it, and does not require a laboured refutation. Take the opposite definition, and nothing can be more clear or simple. ** The pound sterling is the standard of Great Britain by which the relative value of all articles is ascertained ; and the gold, silver, and copper coins issued by government, and circulating in the country, are just simbols, or tokens, of that standard."

A siandard unit appears to be absolutely necessary in all countries, the least cia vilised; and, accordingly, it is to be found every where. 'In France, the livre 'Tournois has been long the standard.

In Spain and Portugal, the millrea.

In Russia, the rouble. ' In America, the dollar..

In the East Indies, the roupee, &c. &c. &c.

It is, therefore, conceived that the standard unit of a country is the ground-work, or true first principle upon which the existence of the coins, used in that country as a circulating medium, is founded ; and in the next part it is proposed to show this more fully, and to explain the nature and properties of coins.

. (To be continued.)

Printed by W. MARCHANT, 3, Greville-Street, Hatton-Garden; and published

by H. R. YURKE, 412, Strand, opposite the Adelphi; and sold also by H. T. HODGSON, Wimpele-Street, and by all the News-venders in Town and' Country.

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THE TRANSACTIONS IN OUDE. To give the company such an uscendancy as cannot fail to be productive of material benetit to both parties, and which, we trust, will lead to the establishment of a good system of government in Oude, which bitherto, all our endeavours, for a series of years, have been unable to accomplish.

Court of Directors to the Governor of Bengal, dated May 15, 1799. In the 26th number of the 2d volume of this Review, I submitted to my readers a full account of the principles which regulated the conduct of the government of India, in concluding the treaty of Lucknow with the nabob of Oude, in the monthof November, 1801. I call it the government of India; for though I have usually employed the name of lord Wellesley singly, I have clearly shewn that the whole of the Oude transactions were conducted with the entire knowledge and concurTence" of the members of his council, who have declared that, “ they would have considered it to have been their duty to have formally objected to the adoption of any measure of importance, without a full discussion of the subject with them."

The compass of this paper renders it impossible for me to enter into a minute detail of the various and complicated proceedings which occurred in the course of an intricate negotiation, which was protracted for the space of two years. I should certainly find no difficulty, if it were necessary, to expose the futility of every article which Mr. Paull has adduced against lord Wellesley in the “ Qude charge;" and I could demonstrate, with equal case, from the tenour of the charge itself, the palpable inconsistency and gross falsehood of the principal allegations upon which the enemies of his lordship have endeavoured to support their imputations against him. For instances; what can be more absurd than Mr. Paull's description of " an opulent nobility", and of their “ reverence and devotion to their sotereign", when that sovereign himself declares that, “ owing to the dispositions, enmity, disobedience, and negligence of the people here, (Lucknow) his mind was utterly withdrawn from it and disquieted, and that on this account he entertained the firm resolution of relinquishing the empire?"* How can the “ manufaciures of a country be extensive, and the exports thereof great, both in quantity of goods and in amount”, when Mr. Paull himself admits that in that very same country, " there was no property but that which was derived from the profits of the taxes, and that according to the laws and usages of the country, there existed no possibility of acquiring any thing to which the name of property can apply?”. Again, will any one believe the revenues of a country to be " abundant and daily increitsing”, when the sovereign, as Mr. Paull calls him, of that country, declares in his letter to the governor general, received October 24, 1799,+ that, " for four-and-twenty years past, the administration of affairs in Oude had been in a state of disorder ?" and, when lord Cornwallis (Mr. Paull will not question his authority) observes, that, “it is well known, not only throughout Hindustan, but to all Europe, that, notwithstanding the prevalence of peace, the revenues of the vizier’s dominions are diminished beyond all conjecture; that from Rohilcund, which paid at first one million sterling per annum; or 80 lacks of rupees, and formerly a crore, 500,0001. (forty lacks), canno! now be collected; that 50,0001. only are received from Goruckpore, which formerly yielded 150,000). and that other districts are in a state of progressive decline ?” How easy would it be for me to prove, by a mere reference to dates, the falschood of Mr. Paull's assertion, that “ the purport of the application for disbanding the troops, was calculated and intende to disgust the vizier with his government, and to induce him to abdicate his throne",

* Printed Papers, No. 3. p. 34. + Ibid. No. 3. p. 22. '

when, an examination of the printed papers will shew, that the reform of the military establishment originated in the nabob's l'eport of the inefficient state of his own troops, and in his repeated applications to the governor-general to assist him with his advice upon the subject; and that, when he made a voluntary and unexpected proposal to abdicate his government on the 12th of November 1799, the details of the plan for disbanding his troops had not been communicated to him, or even to the British resident at Lucknow!!

All these questions of detail, however, are, as I have before observed, not only answerable in the easiest manner, but they are also irrelevanı to the consideration of the main points, which are,

First, Whether the company, under existing treaties, as well as under its general relation to the state of Oude, had a right to interfere in such a manner as might be necessary for the goud government and protection of that country?

And, secondly, IVhether the condition of Oude, during lord Wellesley's government, was such as to justify the exercise of the company's rights?

These questions I have answered in a manner that must carry conviction to every unprejudiced mind, of the able and meritorious conduct of lord Wellesley; and, I trust I have also shewn, beyond the power of controversy, first, that the sole object of his lordship was, to benefit the East India company, to improve the security, and preserve the interests of the British nation in Oude under an exigency of a most pressing nature; secondly, that lord Wellesley pursued these objects uniformly, and with a zeal which flowed entirely froin an high sense of public duty; and thirdly, that it is impossible to assign any other motive for his conduct, which would have been very different, if his views had been actuated by personal or self-interested motives. I have also demonstrated, that increased subsidy, an augmentation of the number of troops, and increased interference, external and internal, have always formed the basis of our treatics with the state of Oude, according to the exigencies of the occasion, and to the conduct of the 'nabob, the position of whose dominions left the company no alternative as far back as lord Clive's treaty in 1765, but to defend his territories in the nabob's naine, or, by leaving open the frontier of Oude, to expose our own possessions and power to imminent peril. 'It' 'only remains therefore, for me to point out the advantages which the contracting parties have derived from the conclusion of the treaty of Lucknow; and to prove that lord Wellesley fülly believed he was acting under the complete approbation of the government at hoine in every part of the transaction. It

With regard to the first point, it will suffice to state, that while the treaty exonerates the nabob from the weight of obligations of an indefinite extent, it has fixed the British power upon solid foundations, and has rescued from a inost afflicting condition of misery, one of the most fertile regions of the globe. There is also good reason for believing that the nabob vizier is perfecily satisfied with the arrangement, since it is certain that he has gained considerably in point of finance, and that during the late Marhatta war he furnished voluntary and abundant aid, in large loans of money, and other military resources, to the army under lord Lake, and that he has resisted every seductive attempt which has been made by individuals to induce him to enter into the party intrigues of this country, for the purpose of abrogating the treaty. I refer my readers, upon this subject, to major Ouseley's printed evidence, and particularly to that part of it which relates to the nabob's voluntary offer of assistance, and to Mr. Treves's attempt to induce the nabob to violate his engagements. I wish also to know from the court of directors, whether they have, to this hour, manifested in any shape, either public or private, the sense which they ought to entertain of the nabob's zealous and honourable conduct since the conclusion of the treaty; and whether, in the course of their scandalous abuse of lord Wellesley, they have evinced the least attention to his lordship’s public recommendation of the nabob's conduct, in his letter of the 28th of March, 1805?* or whether they have made the slightest return to the nabob for his large supplies of elephants and bullocks to the army, for his having mounted the 8th regiment of light dragoons, and for his voluntary loan, withost interest, of 375,0001.? Mr. dicounts,

Vide Printed Papers, No. 18.

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Charles Grant must be sufficiently read in the Holy Bible not to have, for. gotten the sacred precept, “ How wilt thou say to thy brother, let ie pull out the mote out of thine eye; and behold, a beam is in thine own eye.” Matthew, 7th chapter, and 4th verse.

In the 10th number of my 2d volume, I exhibited ample proofs of the early knowledge received by the government at home, and their final approbation of the treaty of Lucknow. I shall, however, recapitulate them in this place, premising once more, that the secret committee is empowered by act of parliament, and is annually appointed by the court of directors, under full instructions to their difa ferent governors, to obey all orders which they may receive from that committee, with the same punctuality and exactness, as though they hud been signed by thirteen or more members of the court of directors, conformably to the acts of the 24th, 26th, and 33d of his present majesty."

By referring to the printed papers laid before the house of commons relative to the affairs of India, it appears from No. 5, that, as early as the 3d of October 1798, lord Wellesley stated to the secret committee that he had under consideration “the best means of securing the regular payment of the subsidy in Oude, and of reforming the nabob's army:” and, in his letter of the 21st and 28th of November 1799, his lordship continues to state his “ anxiety to carry into execution such a reform of the nabob vizier's military establishments, as should secure us from all future danger on the fruntier of Oude, and should enable him to introduce a variety of necessary improvements in the government of the country.” On the 25th of January 1800, and the 7th of March 1800, the subject was again brought before the consideration of the secret committee. In the last of those letters, lord Wel lesley states, “ when I shall have completed my arrangeinent for the military defence of Oude, and shall have disarmed the useless and dangerous troops of the vizier, I shall proceed to adopt the most effectual measures for the reform of all the branches of his excellency's government. Such a reform cannot be postponed without the certain injury, if not the absolute destruction, of the valuable resources which the company at present, derives from that country; and his excellency's repeated and earnest application for my direct interference in the administration of his affairs, will abundantly justify the most decided interposition of the British government in the management of Oude, whenever the proper period for exercising our authority shall arrive."

Having completed his arrangement for the military defence of Oude, and reported the result of that arrangement to the government of England, in which rer port, the fact was of course included, that by those arrangements, a larger armywas maintained in Oude than had been there before; and that the saving to the company's finances, by this arrangement amounted to 50 lacks of rupees annually, which military charge was in future to be defrayed by the nabob of Oude; the government expressed their opinion of this arrangement in the following words: "We entertain a due sense of the highly essential services of oŲr governor general, in the persevering zeal with which he has effected a reform in the military establishment of the nabab vizier; a measure not less contributing to the preservation of his excellency's dominious than to the relief of the company's finances, by furnishing a large additional subsidy, to the annual ainount of 50 lacks of rupees, to reim. burse the charges of the late augmentation of our troops in that quarter, so necessary to be made, in view to the ultimate socurity of our own possessions against the invasion of Zemaun Shah, or of any other power hostile to the British interests, We have the firmest reliance upon the continuance of his lordship's exertions for introducing the necessary improvement into the civil administration of the nabob vizier."*

On the 31st of August 1800, the whole of the negotiations, down to that period of time, with the nabob vizier, were reported to the secret committee by the go. vernor-general in council ; and it is obscrved, “That it is the intention of the governor-general in council to proceed, with the least possible delay, to a revision of

* Letter from the secret committee to the goverper general in council, dated December 4th, 1800,

his excelency the nabob vizier's civil establishment, and of the general interests of the coinpany in the province of Oude.”

The in'elligence of the conclusion of the treaty was transmitted to England on the 13th of November 1801, and a copy of the treaty was forwarded on the fol. lowing day to the secret committee, who in their dispatch,* dated the 19th Novembe; 1803, signified their approbation of it, and observed that they considered "the stipulations therein contained as calculated to improve and secure the interests of the vízies, as well as those of the company, and to provide more effectually bereafter for the good government and prosperity of Oude, and conseqnently for the happiness of its native inhabitants."

The court of directors also, in their revenue dispatch, dated 14th September, 1893, in reply to the report of the settlement of the revenues of the ceded districts in Oude, after expressing their satisfaction at the increase of she revenues of those districts, state, " That they received great pleasure from the information in Mr. Wellesley's letter of the 23d March 1802, that the utmost tranquillity prcvailed throughout the ceded provinces, and that the change in the gorernment appears to have giren general satisfaction.” This letter is signed by Mr. Bosanquet and Mr. Robarte, two of the threc directors who signed the letter from the secret committee, dated the 19th Nov. 1803, approving of the treaty of Lucknow,

It is likewise evident, that the court of directors knew and approved of the preceding military arrangements in Oude, as may be seen in the following extract from the ceneral military letter of the court of directors, dated February 11, 1801, par. 27. and 51. “We have no doubt that the system ascertained by these arangements (in Oude) is highly advantageous to the security and prosperity of the Benga! provinces ; and, of course, whatever addition it may have been necessary to make to our native infantry establishment, for the purpose of tulfilling these en gagements will be cheerfully acquiesced in.” “The arrangements in Oude not only furnish a strong defence for our' northern frontier, by the large army stationed there, but add to the security of our internal posséssions in Bengal and Behar.”

Hence, I contend, that if blame be any where imputable; or, if animpeachment ought to be instituted against any person, it should be directed against the government at home. I will not pretend to point out the particular objects of punishment: let them settle that point among themselves. I am not defending them; it is sufficient for me to have proved that as far as lord Wellesley could forin any judgment of their opinion respecting his transactions, his lordship had every reason to believe that his conduct, in all its stages, was entirely approved by his legal superiors, and that the different alterations in our connection with Oude, were dictated by that authority which by law as well as duty he was bound to obey. I shall therefore conclude this question with the following citation from the opinion of one of the directors who signed the letter of approbation, and who has thus confirmed thie wisdom of that policy which I approve and have vindicated, and for which, I sincerely hope, the country will, cre long, do justice to lord Wellesley. '

“I am duly impressed,” says Mr. Bosanquet,t " with a sense of the disorders which prevailed in Oude, and the deep interest which the East India company had in their suppression; I am also sensible, that from the vicious administration of the nabob, his subjects were deprived of the benefits' which it is probable they will experience under the British goverinent." .

To this I shall add one more quotation from an admirable tract which has lately been published under the title of “ Review of the affairs of India from the year 1798 to 1806,” which contains in a small space the whole argument upon which I have so often dilated.

“Without the protection of the company, the nabob certainly could not preserve bis territories, authority, or, probably, his existence, for twelve months. If, there. fore, by the alienation of a portion of his revenue, he secured the remainder, and provided an effectual military defence against external foes and internal treason, hiş

* Vide No. XH. of list of papers, printed and marked No. II. page 58.

* Vide Mr. Bosanquet's minute, dated 222 · December, 1803, entered on the proceedings of the secret coinmittee.

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