Correspondence of the Right Honourable Edmund Burke; Between the Year 1744 And the Period of His Decease, in 1797
Correspondence of the Right Honourable Edmund Burke; Between the Year 1744 And the Period of His Decease, in 1797
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The tea-agreement is now at its winding up, and has added some hundreds of thousands to the debt. It was certainly a most improvident bargain. The directors have had three schemes in Digitized by VjiOOQlC 344 CORRESPONDENCE OF THE contemplation. One, to increase their capital : a second, to borrow a million upon bonds : the third, that government this year, instead of the discharge of other debts, would pay off £ 1,200,000, of what it owes to the company. This last scheme, some of them think, w...ith time given for the tea-compo- sition, and a reduction of about four per cent, dividend, would enable the company to go on until a reform of their affairs abroad can be effected by means of the supervision, or by some other method. This seems to be the scheme most approved by the chairs. Others, with more resolu- tion, and to all appearance with more sense, propose to reduce their dividend to six per cent., and thus to exonerate themselves at one stroke of the charge of four hundred thousand pounds, into which they had been tricked by the court.
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To quickly assess the difficulty of the text, read a short excerpt:
The tea-agreement is now at its winding up, and has added some hundreds of thousands to the debt. It was certainly a most improvident bargain. The directors have had three schemes in Digitized by VjiOOQlC 344 CORRESPONDENCE OF THE contemplation. One, to increase their capital : a second, to borrow a million upon bonds : the third, that government this year, instead of the discharge of other debts, would pay off £ 1,200,000, of what it owes to the company. This last scheme, some of them think, w...ith time given for the tea-compo- sition, and a reduction of about four per cent, dividend, would enable the company to go on until a reform of their affairs abroad can be effected by means of the supervision, or by some other method. This seems to be the scheme most approved by the chairs. Others, with more resolu- tion, and to all appearance with more sense, propose to reduce their dividend to six per cent., and thus to exonerate themselves at one stroke of the charge of four hundred thousand pounds, into which they had been tricked by the court.
What to read after Correspondence of the Right Honourable Edmund Burke; Between the Year 1744 And the Period of His Decease, in 1797?
You can find similar books in the "Read Also" column, or choose other free books by Edmund Burke to read onlineMoreLess
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