by Beckford, and obtained notwithstanding the opposition in the Cabinet of Townshend.[1] Their discussion, after several delays, was fixed for January 21st. When the day arrived Charles Townshend at once appeared on the scene, and declared he believed the Company had a right to territorial revenue.[2] "Soon after I came to town," wrote Shelburne to Chatham, "the Chairman and Deputy Chairman came to me to speak about their accounts with the French for prisoners, which are still unpaid. They took occasion at the same time to enter into their general situation. They declared they did not think themselves authorized by the general Court to do more than to desire of the Administration certain powers which are wanted for the better regulation of the Company's affairs in India, and to hear what Government may expect for them and for a new charter. Further they did not think themselves authorized to go, without fresh powers; and in their private opinions they did not see how that could be, till some authentic determination was come to, to decide the right; upon which it was well known there were different opinions, not only in the city, but in Parliament. This was their language to me, to which I returned a very general answer.
"The Chancellor of the Exchequer, whether that they had more confidence in him or that from a more intimate communication with them he was able to inspire them with his sentiments, has been uniform in believing they would come to Government, and with such a proposal as would be approved by Parliament. He has gone so far as to declare it as his opinion to the House; upon which the printing of the papers was stopped, and the stock rose. In the meantime the directors have said nothing, nor taken any step worth mentioning, and the matter stands there. Mr. Beckford is at a loss how to prosecute the inquiry in this situation, when the Committee meets on Friday. I take it for granted your Lordship will choose to explain yourself to the Duke of Grafton, in consequence of what-
