Congress Select Committee On The Financial Obligations Between Great Britain And India - Vol Ii

CONGRESS SELECT COMMITTEE ON THE FINANCIAL OBLIGATIONS BETWEEN GREAT BRITAIN AND INDIA PROF. K. T. SHAHS ANNEXTURE TO THE REPORT VOLUME II BOMBAY 1931 C PRICE ONE RUPEE CONTENTS CHAPTER I. INTRODUCTORY SCOPE AND PURPOSE OF THE ENQUIRY. I. Analysis of the Reference. PARA. PAGE 1. Terms of Reference. ... ... ... ... 1 2. Need for proper Interpretation of the Reference ... ... 1 3. Object and Scope of the Enquiry a E. I. Companys Transactions... 1 4. 6 Transactions of the Government of India under the British Crown 1 5. c Apportionment of the Obligations ... ... ... 2 6. Dangers of a narrow interpretation of Reference ... ... 2 7. Reference not merely for Counsels opinion ... ... ... 2 8. Arbitrators award ... ... 3 9. Raison d tre for Reference Part III ... ... ... 3 II Method of Treatment and General Plan of Report. 10. Unavoidable elaboration of argument ... ... ... 4 11. Apportionment How advised upon ... ... ... 4 12. Certain cognate questions also considered ... ... ... 4 13. Unique character of Enquiry ... ..., .. ... 5 III Method of Enquiry. 14 Method of Treatment adopted. ... ... ... ... 5 IV India a Trust of British Crown. 15. Appropriateness of Enquiry at the present movement ... ... 5 Foot-Note on institution of the Trust ... ... ... 6 16. The Rights of the Beneficiary under a Trust ... ... 7 17. Settlement by negotiation the only course ... ... ... 7 V. Peculiarities of India at the Crossways. 18. Urgency of the subject under Reference ... ... 8 19. Constitutional and structural changes impending make principle of direct Succession and continuity in Government of India inadmissible ... ... ... ... ... 8 20. No continuity of India in identity of name as an International Person... ., . ... ... ... 9 21. Limits of the obligation in political Successorship 9 22. No obligation by successorship in future Dominion of India ana logy of Post-War Treaties. ... ... ... 11 23. Applicability of foregoing to India. ... ... ... 12 VI. Peculiar Character of Indian Public Debt Obligations. 24. Indian Public Debt not specifically secured ... ... 12 25. Nor Guaranteed by a third Party. ... ... ... 13 26. Locus Standi of the British Government in final settlement ... 14 27. Debt incurred without Indian Peoples consent ... ... 14 IV PARA, PAGE 28. Debt without benefit to India ... ... ... 15 29. Conclusion of Chapter I ... ... ... ... - 15 Appendix. Critical Examination of Documents of Title to Indian f Public Debt. ... ... ... ... 16-18 CHAPTER II. TRANSACTIONS OF THE EAST INDIA COMPANY. I, Introductory. 30. Introductory ... ... ... ... ... 19 It Difficulties and Complications in Accounts. 31. Complications of Commercial and Territorial Accounts... ... 19 32. Separated accounts since 1814... ... ... ... 19 33. Confusion caused by payments in Britain ... ... ... 20 34. Method of preparing and submitting accounts also confusing ... 20 35. Confusion between Revenue and Capital items ... ... 21 36. Difference in point of view in accounts preparation ... ... 21 37. Mutual debits and credits between India and Britain cause confusion ... ... ... ... ... 21 38. Confusion due to Exchange variations ... ... ... 22 HI Aggregate of Debt Legacy left by East India Companys Regime 39. Limitations in taking the aggregate figure . ... 23 IV A General Review of the Companys Finances. 40. Review of Companys Finance ., . ... ... 24 41. Historical summary ... ... ... ... 24 42. Growth of CompanysDebt ... ... ... ... 25 43. Dividend Payments cause of Debt ... ... ... 26 44. Revenues and Expenditure 1814-15 to 1833-34 ... ... 26 45. Companys finances since 1814 ... ... ... 27 46. Growth of Debt after 1833 ... ... .. ... 28 47. Capital arrangement of 1833 ... 48. Absence of sound principles in account-keeping 49. Review of the Territorial Finance 50. Explanation of figures 28 30 30 30 Appendix A. Figures re. Companys Income, Expenditure, Debt. 31-32 V Constituents of Companys Debt. 51. Chargeability of these burdens on India ... ... ... 33 52...