20 



debt payable to the public - - 32 millions 

 Sinkiiiirfuncl (reduced from 17 millions) 5 

 Expenses of collecting and charges of 

 management, 7 \ per cent, on 40 millions, 3 



Advance made by the merchant, 

 jnanufacturer, and dealer, upon duties 

 |)aiu under the heads of Customs and 

 Excise, 2.*5 per cent, on 40 millions, 10 



50 millions. 



Unfortunately, however, this aggregate, although 

 it shows that the consumer ought to pay ^fifti/ mil- 

 lions, in respect of thirty-two millions to be paid to 

 the public creditor, exhibits only a small part or pro- 

 portion of the effect of the system of public annuities 

 upon the costs of production, and consequently upon 

 market. 



Fifty millions added to, or combined with, the 

 cost of the several commodities subject to duties of 

 Excise and Customs, require an advance in the price 

 of such commodities to that extent. The consumer 

 does, or should, through the medium of these com- 

 modities, pay the sumof fifty millions; unquestiona- 

 bly a very considerable sum : but the simple addi- 

 tion of fifty millions to the cost of the whole of the 

 commodities vended icithin one year in the United 

 Kingdom, would not have added more than twenty 

 per cent, to prices, computing the annual amount, 

 previous to any advance on this account, at two 

 hundred and fifty millions. 



The great and destructive eflTect of this primary 



