96 
Thefe calculations, of courfe, 
depend upon the different prices at 
which the feveral ftecks in which 
the public debt confifts may happen 
to. be purchafed. 
The earlieft date, according to 
thefe calculations, at. which the 
whole of the debt that exifted prior 
to 1793, and taken at two hundred 
and forty millions, would be can- 
celled, is thirty-three years, from 
the lft of February, 1797; and 
even the moft remote date at which 
it would be cancelled, does not ex- 
ceed fifty-four years. 
“ Your Committee obferve, that 
the faid calculations relate only to 
the progrefs which will be made, 
upon different data, in the reduction 
of the debt exifting before the war, 
by the application of the funds 
' provided for that purpofe. 
The reduction of the debt which’ 
has been incurred during the 
war, depends upon different con- 
fiderations. The amount of the 
finking fund applicable thereto, 
including the 11. per cent. on 
account of the loan and bills 
funded in the prefent feffions, 
amount to - L. 1,341,411 
The dividend on the ftock, pur- 
chafed thereby, is L. 77,068 
The total amount of the new fink- 
' ing fundwas - JL. 1,418,479 
The capital of the new debt, to the 
reduction of which this fum is 
applicable, is  _L. 130,665,896 
In order to give the Houfe fuller 
information upon this part of the 
fubjeé, your Committee have call- 
ed for. further calculations; but in 
the mean time they think it necef- 
fary to obferve, thatthe new fink- 
ing fund appears to bear a much 
larger proportion to the new debt 
than the old finking fund, with its 
accumulations, the annual grant of 
AP PEN DEX ror 
200,000. and the annuities expired, 
does at the prefent moment to the 
old debt : and that the old finking 
fund, after reaching the fum of four 
millions, is no longer made applic- 
able by law'to the difcharge at com- 
pound intereft of what may then 
remain of the old debt: but the 
operation of the new finking fund 
is to continue at compound intereft 
till the new debt fhall be totally 
extinguifhed. 
Refort from the Committee of Secrecy 
ajipoinied by the Houfe of Lords to 
examine and ftate the total amount of 
Outfanding Demands on the Bank of 
England, and likewife of the Funds for 
diftharring the fame, and to report the 
refult thereof to the Houfe, together 
with their Opinion on the Neceffity 
providing for the Confirmation and 
Continuance of Meafures taken in pur- 
Suance of the Minute of Council of the 
26th of February, 1797. 
’ i XHE Committee having pres 
ceeded to take into their con- 
fideration the matters referred to 
them, report thereon as follows: 
With refpe& to the firft part of 
the order of the Houfe, by which 
they are directed to examine and re- 
port the total amount of outftand- 
ing demands on the Bank of Eng- 
land, and likewife of the funds for 
difcharging the fame, they called 
upon the Governor of the Bank, 
and upon Mr. Bofanquet, one of 
the Directors of the Bank (who at- 
tended them in the abfence of the 
Deputy Governor) for an account 
to that effect; which account, hav- 
ing by them been produced to the 
Committee, was verified by the 
Deputy Accountant of the Bank; 
and the fame having been examined 
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