3 02 A. D. 1786. 



or, failing ihem, and no provifion being made by parliament, fuch funds 

 as they may think niofl eligible, though above par. And all dividends 

 arifing from fuch purchafes are alfo to be immediately inverted in the fame 

 manner. The commiffioners are diredted to make their purchafes, in 

 fums nearly equal, on every day of the week except Monday and Satur- 

 day, on which days they purchafe none. The commiffioners may fub- 

 fcribe a fum, not exceeding their annual income, in any new loan 

 bearing intereft at the fame rate with fome of the exifting branches of 

 the funds. And, laftly, whenever the annual income, including the 

 annual million, as well as the dividends arifing from the purchafes, fhall 

 amount altogether to four millions, ' the dividends due on fuch part of 

 ' the principal or capital flock as fhall thenceforth be paid off by the 

 ' faid commiffioners, and the inonies payable on fuch annuities for lives 

 ' or years as may afterwards ceafe and determine, (hall no longer be 

 ' iffiied at the receipt of his Majefty's exchequer, but {hall be confidered 

 ' as redeemed by parliament, and fhall remain to be difpofed of as par- 

 • liament fhall dired.' [26 Geo. Ill, c. 31.] 



It is evident that a fund, pofleffing fo many copious fources of accu- 

 mulation, and having no outlet of expenditure*, mufi: foon increafe to a 

 prodigious amount. And indeed the meafure has been of very import- 

 ant fervice, not only to the public in a corporate capacity, but alfo to 

 the vafl number of individuals, who have property in the public funds, 

 and to fuch landholders as have occaflon to bring their eftates to mar- 

 ket. In fo far as it keeps the interefl to be gotten by buying into the 

 public funds from getting up to a very extravagant height, it is alfo of 

 great benefit to the commercial world. Some political writers have 

 amplified the advantages flowing from this permanent finking fund to 

 an incalculable extent. But the merits of it need no exaggeration. 



The abatement of duty, allowed on fait carried to the ifland of Mann, 

 was lelTened. The quantity of refined and baftard fugar, to be annually 

 carried to the fame ifland, was limited to four hundred-weight of the 

 former, and ten hundred-vv'eight of the later, to be fhipped only at Li- 

 verpool in Britifh vefTels, and to be landed only at Douglas : and the 

 people of Mann are not allowed to export any part of it. The liberty 

 cf importing foreign fifh in Mann was refcinded, except upon a failure 

 of the fifhery on the coafls of the ifland, in which cafe the magiilrates, 

 called the keys of Mann, are authorized to permit the importation of 

 foreign herrings, not exceeding ten thoufand barrels, for tlie confump- 

 tion of the ifland. [26 Geo. Ill, c. ^6.^ 



The flourifhing commercial town of Newcaflle upon Tine obtained,^^ 

 an aft for various improvements, pretty much finnlar to that obtained ' 

 in this fame feflion by Liverpool. [26 Geo. Ill, c. 39.] 



* There is a trifling expenfc of about £i,6co of all the various branches of income being exa£l!)- 

 a-year for the fecretary, broker, &c. but it docs balanced by the purchafes made in the year, 

 not appear to be borne by the fund, the amount 



