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'ABSTRACT OF LETTERS FROM INDIA 1870' [273r] (552/798)
The record is made up of 1 volume (395 folios). It was created in Dec 1869-Dec 1870. It was written in English. The original is part of the British Library: India Office The department of the British Government to which the Government of India reported between 1858 and 1947. The successor to the Court of Directors. Records and Private Papers Documents collected in a private capacity. .
Transcription
This transcription is created automatically. It may contain errors.
opportunity having been afforded us of previously expressing our views
on the subject.
The suggestion as to sharing surplus profits throughout the term
of the contract having emanated from the Government of India, it
might appear that the negotiations that have been carried out with the
old guaranteed Companies, of which this condition forms an element,
had also in some degree originated with us ; but such is clearly not the
case. It was manifestly with special reference to future railway
undertakings under guarantee that we advocated a modification in the
terms relating to the appropriation of surplus profits.
We are not insensible to the simplification of accounts that would
result from the adoption, on the old lines as well as on new lines, of
this modification of the contract in respect of the manner of dealing
with surplus profits and guaranteed interest advances, and we should
regard its acceptance by the other Companies with the same satisfac
tion as we have expressed in the case of the Great Southern of India,
and Bombay Baroda and Central India Companies, provided it be not
hampered with conditions assented to under the impression that the
Companies had, in agreeing to it, conceded something to the Govern
ment ; for there is not, in our opinion, any probability of advantage
beyond that of account to either party to the contract from its
adoption.
The East Indian Railway is the most prosperous of the guaranteed
undertakings, and has deferred its acceptance of the offer that has
been made to it. The prudence of this hesitation will be duly proved
as time lapses, but it may be as well to notice that the average rate
of profit on this railway must be per cent, throughout the re
mainder of the term of the contract in order to repay its present
guaranteed interest debt, omitting the present simple interest debt,
probably not less than one million sterling. At present the profits of
this railway slightly exceed the guarantee in each alternate half year,
and the average above arrived at implies that the profits must rise to
at least per cent, by the end of the term. It is very evident that
this Company, in consenting to share profits with the Government
throughout the term of the contract, instead of until its debt is extin
guished, would have little in its hand to negotiate with.
And taking all the lines together, it is found that to pay off the
total guaranteed interest debt (omitting the simple interest debt)
within the term of the contracts, the average rate of interest
throughout the remainder of the term must be rather over 7^ per
cent. The average profit of all the lines realized last year was not
quite per cent., so that the rate must rise to at least 11£ per cent,
by the end of the term.
Consideration of the foregoing statements, as well as of the results
of the negotiations of last year with the Great Southern of India,.
12067. 7 U
About this item
- Content
Confidential printed abstracts of letters received by the India Office The department of the British Government to which the Government of India reported between 1858 and 1947. The successor to the Court of Directors. from the Government of India, and from senior officials in certain areas outside India, during the year 1870. The letters are dated December 1869-December 1870. The abstracts each have one of the following titles:
- Abstracts of Secret Letters received from India
- Abstracts of Letters received from India
- Abstracts of Military Letters received from India
- Abstracts of Letters received from Zanzibar and Muscat
- Abstracts of Letters received from Aden
- Abstracts of Letters received from Muscat
- Abstracts of Letters received from Bushire [Bushehr]
- Abstracts of Letters received from Aden and Zanzibar
- Abstracts of Letters received from Bushire and Aden
- Abstracts of Letters received from Zanzibar and Aden.
Each abstract contains summaries of one or more letters from the specified source, each with a title giving the subject of the letter. Letters from India are divided within each abstract by the branch or department of the Government of India they originated from. The correspondence covers issues including:
- Pay, pensions, recruitment, and other personnel issues in the Indian Civil and Military establishments
- Public works, including: railways, including a proposed railway from the Mediterranean to the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. ; roads; canals; irrigation; docks; and river embankments
- Revenue, expenditure, and taxation
- Land issues, including: the cultivation of cotton, cinchona, and silk; forestry; and coal mining
- Education
- Banking
- Telegraphy, including international telegraphic links to India
- Affairs concerning Princely States, including internal administration, debts, allowances, issues of succession, investment in railways, and territorial claims
- Issues around emigration from India to British and French colonies
- Legislative and judicial affairs, including the question of jurisdiction over British subjects in the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran.
- Military affairs, including the organisation and supply of military units and a proposed naval force for the Indian seas and the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran.
- Frontier affairs: relations with tribes on the Northwest and Northeast Frontiers and frontier raids
- Affairs in Persia [Iran], including: Persian claims to sovereignty over Bahrein [Bahrain] and objection to British actions in Bahrein; frontier disputes around Khelat [Kalat], Mekran [Makran], and Seistan [Sistan] and proposed arbitration of the Persian-Afghan border; anticipated food shortages and subsequent disturbances involving British subjects exporting grain from Bushire
- Affairs in the Sultanate of Muscat and Oman, including: the consolidation of and challenges to the rule of Syud Azan [Azzān bin Qays Āl Bū Sa‘īd]; debates around British policy towards Syud Azan; confrontation between Muscat and the Wahabees [Waḥabī movement]; the issue of the Zanzibar subsidy; and Syud Azan’s claims to Bunder Abbas [Bandar-e ‘Abbas], Gwadur [Gwadar], Charbar [Chabahar] and other territories on the Mekran Coast
- Affairs in the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. , including: the campaign of Colonel Lewis Pelly in Bahrein and the installation of Esau bin Ali [‘Īsá bin ‘Alī Āl Khalīfah] as Ruler; trade and shipping in the Gulf; the desire of the Shah of Persia for a naval presence in the Gulf; Dutch and Turkish [Ottoman] activity in the region; and tensions between Bahrein and the Wahabees, including Wahabee inroads in the Guttur peninsula [Qatar]
- Affairs in Affghanistan [Afghanistan], including relations with Bokhara [Emirate of Bukhara] and Russia
- Central Asian affairs, including the Russian advance in the region, trade and communication from India to Central Asia via Cashmere [Kashmir] and Ladak [Ladakh], and affairs in Eastern Turkestan [Xinjiang]
- Affairs in Zanzibar, including the slave trade, relations with Muscat, the death of Syud Majid [Mājid bin Sa‘īd Āl Bū Sa‘īd], and the accession to the throne of Syud Burgash [Barghash bin Sa‘īd Āl Bū Sa‘īd]
- Affairs in and around Aden Settlement, including: relations with neighbouring polities, including Lahej [Laḥij Sultanate], Houshebi [Ḥawshabī Sultanate], Fodtheli [Faḍlī Sultanate], and Kathiree [Kathīrī Sultanate]; the purchase of Little Aden; the defences of Aden; an attack on Hodeida [Al Hudaydah] from Aseer [‘Asir] and the threat to Lahej from the Zaidees [Zaidīs]
- Affairs in the Red Sea, including attempted French, Austrian, Turkish, and Egyptian inroads in the region
- Affairs in Burmah [Burma/Myanmar], Bhootan [Bhutan], and Nipal [Nepal].
The primary correspondents are:
- The Government of India
- The Viceroy and Governor-General of India
- The Resident at Aden
- The Political Resident A senior ranking political representative (equivalent to a Consul General) from the diplomatic corps of the Government of India or one of its subordinate provincial governments, in charge of a Political Residency. in the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran.
- The Political Agent A mid-ranking political representative (equivalent to a Consul) from the diplomatic corps of the Government of India or one of its subordinate provincial governments, in charge of a Political Agency. in Muscat
- The Political Agent A mid-ranking political representative (equivalent to a Consul) from the diplomatic corps of the Government of India or one of its subordinate provincial governments, in charge of a Political Agency. in Zanzibar.
- Extent and format
- 1 volume (395 folios)
- Arrangement
The abstracts are arranged in roughly chronological order. A detailed index of subjects, places and people mentioned in the correspondence is included on folios 384-393.
- Physical characteristics
Foliation: the foliation sequence (used for referencing) commences at the first folio with 1, and terminates at the last folio with 395; these numbers are written in pencil, are circled, and are located in the top right corner of the recto The front of a sheet of paper or leaf, often abbreviated to 'r'. side of each folio. The foliation sequence does not include the front and back covers.
Pagination: the file also contains an original printed pagination sequence.
- Written in
- English in Latin script View the complete information for this record
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'ABSTRACT OF LETTERS FROM INDIA 1870' [273r] (552/798), British Library: India Office Records and Private Papers, IOR/L/PS/20/CA10, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100135113393.0x000099> [accessed 19 August 2026]
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Copyright: How to use this content
- Reference
- IOR/L/PS/20/CA10
- Title
- 'ABSTRACT OF LETTERS FROM INDIA 1870'
- Pages
- front, back, spine, edge, head, tail, front-i, 1r:116v, 119r:395v, back-i
- Author
- East India Company, the Board of Control, the India Office, or other British Government Department
- Usage terms
- Open Government Licence