Evening Post in London, Middlesex

Versailles Finances Back Scheme to Cancel Indian Company Debt

The Extraordinary Council of Finances approved a proposal by a creditable company to redeem seventy million livres of India Company liquidations by annuities. Notes of 1000 Livres each would pay 1000 Livres liquidations plus 100 in specie, with a 40 Livre annual dividend and potential increases. After 45 years the company would pay specie on maturity, with a royal monopoly on lotteries and Lombard houses. The plan promises government and public benefit via rapid paper cancellation and easy liquidity, while guaranteeing a dividend of 6 percent on the India Company shares. Other items note royal actions, storms, and political moves across France and Britain.