Summary
The affairs of the Company excited various and conflicting passions in England; and gave rise to measures of more than ordinary importance. The act of parliament having expired which limited the amount of dividend in 1767, the Directors exclaimed against a renewal of the restriction, as transferring the powers of the Company to parliament, subverting the privileges of their charter, and rendering insecure the property of every commercial and corporate body in the kingdom. They even presented to parliament a petition, in which these arguments were vehemently enforced; and so well by this time were they represented in that assembly, that a sufficiency of orators was not wanting, who in both Houses supported their claims. Opposite views, notwithstanding, prevailed; and an act was passed to prevent the increase of the dividend beyond ten per cent. till the 1st day of February, 1769.
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- The History of British India , pp. 286 - 306Publisher: Cambridge University PressPrint publication year: 2010First published in: 1817