Edmund Burke - The Works of the Right Honourable Edmund Burke, Vol. 03 (of 12)

For several years Benfield appeared as the chief proprietor, as well as the chief agent, director, and controller of this system of debt. The worthy chairman of the Company has stated the claims of this single gentleman on the Nabob of Arcot as amounting to five hundred thousand pound. 58 58 Mr. Smith's protest. Possibly at the time of the chairman's state they might have been as high. Eight hundred thousand pound had been mentioned some time before; 59 59 Madras correspondence on this subject. and, according to the practice of shifting the names of creditors in these transactions, and reducing or raising the debt itself at pleasure, I think it not impossible that at one period the name of Benfield might have stood before those frightful figures. But my best information goes to fix his share no higher than four hundred thousand pounds. By the scheme of the present ministry for adding to the principal twelve per cent from the year 1777 to the year 1781, four hundred thousand pounds, that smallest of the sums ever mentioned for Mr. Benfield, will form a capital of 592,000 l . at six per cent. Thus, besides the arrears of three years, amounting to 106,500 l ., (which, as fast as received, may be legally lent out at twelve per cent,) Benfield has received, by the ministerial grant before you, an annuity of 35,520 l . a year, charged on the public revenues.

Our mirror of ministers of finance did not think this enough for the services of such a friend as Benfield. He found that Lord Macartney, in order to frighten the Court of Directors from the project of obliging the Nabob to give soucar security for his debt, assured them, that, if they should take that step, Benfield 60 60 Appendix, No 6. would infallibly be the soucar, and would thereby become the entire master of the Carnatic. What Lord Macartney thought sufficient to deter the very agents and partakers with Benfield in his iniquities was the inducement to the two right honorable gentlemen to order this very soucar security to be given, and to recall Benfield to the city of Madras from the sort of decent exile into which he had been relegated by Lord Macartney. You must therefore consider Benfield as soucar security for 480,000 l . a year, which, at twenty-four per cent, (supposing him contented with that profit,) will, with the interest of his old debt, produce an annual income of 149,520 l . a year.

Here is a specimen of the new and pure aristocracy created by the right honorable gentleman, 61 61 Right Honorable William Pitt. as the support of the crown and Constitution against the old, corrupt, refractory, natural interests of this kingdom; and this is the grand counterpoise against all odious coalitions of these interests. A single Benfield outweighs them all: a criminal, who long since ought to have fattened the region kites with his offal, is by his Majesty's ministers enthroned in the government of a great kingdom, and enfeoffed with an estate which in the comparison effaces the splendor of all the nobility of Europe. To bring a little more distinctly into view the true secret of this dark transaction, I beg you particularly to advert to the circumstances which I am going to place before you.

The general corps of creditors, as well as Mr. Benfield himself, not looking well into futurity, nor presaging the minister of this day, thought it not expedient for their common interest that such a name as his should stand at the head of their list. It was therefore agreed amongst them that Mr. Benfield should disappear, by making over his debt to Messrs. Taylor, Majendie, and Call, and should in return be secured by their bond.

The debt thus exonerated of so great a weight of its odium, and otherwise reduced from its alarming bulk, the agents thought they might venture to print a list of the creditors. This was done for the first time in the year 1783, during the Duke of Portland's administration. In this list the name of Benfield was not to be seen. To this strong negative testimony was added the further testimony of the Nabob of Arcot. That prince 62 62 Appendix, No. 10 . (or rather Mr. Benfield for him) writes to the Court of Directors a letter 63 63 Dated 13th October. For further illustration of the style in which these letters were written, and the principles on which they proceed, see letters from the Nabob to the Court of Directors, dated August 16th and September 7th, 1783, delivered by Mr. James Macpherson, minister to the Nabob, January 14, 1784. Appendix, No. 10 . full of complaints and accusations against Lord Macartney, conveyed in such terms as were natural for one of Mr. Benfield's habits and education to employ. Amongst the rest he is made to complain of his Lordship's endeavoring to prevent an intercourse of politeness and sentiment between him and Mr. Benfield; and to aggravate the affront, he expressly declares Mr. Benfield's visits to be only on account of respect and of gratitude, as no pecuniary transaction subsisted between them.

Such, for a considerable space of time, was the outward form of the loan of 1777, in which Mr. Benfield had no sort of concern. At length intelligence arrived at Madras, that this debt, which had always been renounced by the Court of Directors, was rather like to become the subject of something more like a criminal inquiry than of any patronage or sanction from Parliament. Every ship brought accounts, one stronger than the other, of the prevalence of the determined enemies of the Indian system. The public revenues became an object desperate to the hopes of Mr. Benfield; he therefore resolved to fall upon his associates, and, in violation of that faith which subsists among those who have abandoned all other, commences a suit in the Mayor's Court against Taylor, Majendie, and Call, for the bond given to him, when he agreed to disappear for his own benefit as well as that of the common concern. The assignees of his debt, who little expected the springing of this mine, even from such an engineer as Mr. Benfield, after recovering their first alarm, thought it best to take ground on the real state of the transaction. They divulged the whole mystery, and were prepared to plead that they had never received from Mr. Benfield any other consideration for the bond than a transfer, in trust for himself, of his demand on the Nabob of Arcot. An universal indignation arose against the perfidy of Mr. Benfield's proceeding; the event of the suit was looked upon as so certain, that Benfield was compelled to retreat as precipitately as he had advanced boldly; he gave up his bond, and was reinstated in his original demand, to wait the fortune of other claimants. At that time, and at Madras, this hope was dull indeed; but at home another scene was preparing.

It was long before any public account of this discovery at Madras had arrived in England, that the present minister and his Board of Control thought fit to determine on the debt of 1777. The recorded proceedings at this time knew nothing of any debt to Benfield. There was his own testimony, there was the testimony of the list, there was the testimony of the Nabob of Arcot, against it. Yet such was the ministers' feeling of the true secret of this transaction, that they thought proper, in the teeth of all these testimonies, to give him license to return to Madras. Here the ministers were under some embarrassment. Confounded between their resolution of rewarding the good services of Benfield's friends and associates in England, and the shame of sending that notorious incendiary to the court of the Nabob of Arcot, to renew his intrigues against the British government, at the time they authorize his return, they forbid him, under the severest penalties, from any conversation with the Nabob or his ministers: that is, they forbid his communication with the very person on account of his dealings with whom they permit his return to that city. To overtop this contradiction, there is not a word restraining him from the freest intercourse with the Nabob's second son, the real author of all that is done in the Nabob's name; who, in conjunction with this very Benfield, has acquired an absolute dominion over that unhappy man, is able to persuade him to put his signature to whatever paper they please, and often without any communication of the contents. This management was detailed to them at full length by Lord Macartney, and they cannot pretend ignorance of it. 64 64 Appendix, No. 6 .