He cannot say that it was the general opinion, but it was the opinion of a considerable part of the settlement.—­Being asked, Whether it was the declared opinion of those that were concerned in the debt, or those that were not? he said, It was the opinion of both parties, at least such of them as he conversed with.—­Being asked, Whether he has reason to believe that the interest really paid by the Nabob, upon obligations given, or money lent, did not frequently exceed twelve per cent? he said, Prior to the 1st of August, 1774, he had had reason to believe that a higher interest than twelve per cent was paid by the Nabob on moneys lent to him; but from and after that period, when the last act of Parliament took place in India, he does not know that more than twelve per cent had been paid by the Nabob, or received from him.—­Being asked, Whether it is not his opinion that the Nabob has paid more than twelve per cent for money due since the 1st of August, 1774? he said, He has heard that he has, but he does not know it.—­Being asked, Whether he has been told so by any considerable and weighty authority, that was like to know? he said, He has been so informed by persons who he believes had a very good opportunity of knowing it.—­Being asked, Whether he was ever told so by the Nabob of Arcot himself? he said, He does not recollect that the Nabob of Arcot directly told him so, but from what he said he did infer that he paid a higher interest than twelve per cent.

Mr. Smith being asked, Whether, in the course of trade, he ever sold anything to the Nabob of Arcot? he said, In the year 1775 he did sell to the Nabob of Arcot pearls to the amount of 32,500 pagodas, for which the Nabob gave him an order or tankah on the country of Tanjore, payable in six months, without interest.—­Being asked, Whether, at the time he asked the Nabob his price for the pearls, the Nabob beat down that price, as dealers commonly do? he said, No; so far from it, he offered him more than he asked by 1000 pagodas, and which he rejected.—­Being asked, Whether, in settling a transaction of discount with the Nabob’s agent, he was not offered a greater discount than 12_l._ per cent? he said, In discounting a soucar’s bill for 180,000 pagodas, the Nabob’s agent did offer him a discount of twenty-four per cent per annum, saving that it was the usual rate of discount paid by the Nabob; but which he would not accept of, thinking himself confined by the act of Parliament limiting the interest of moneys to twelve per cent, and accordingly he discounted the bill at twelve per cent per annum only.—­Being asked, Whether he does not think those offers were made him because the Nabob thought he was a person of some consequence in the settlement? he said, Being only a private merchant, he apprehends that the offer was made to him more from its being a general practice than from any opinion of his importance.

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No. 3.

Referred to from p. 38.