53 



deiids payable on that day, had been provided from the 

 ordinary sources of revenue.' 



In this case, the demand foryji/?/;e dividends and interest 

 on unfunded debt, would very little exceed twenty-seven 

 millions, and the public would thenceforward be relieved 

 from demand ; £. 



In respect of the public creditor, (his con- 

 tribution of lo per cent.) 4,900,000 

 Sinking Fund, 5,000,000 

 15 per cent, upon public appointments, 

 estimated — together with the decline in 

 the price of stores for the public service, 

 incident to the reduction of duties — at 4,000,000 



Together .£13,900,000 



The demand of fourteen millions nearly, for the annual 

 public service, would utterly cease from the 5th of January, 

 1822, and consequently, provided the Sinking Fund be effi- 

 cient to the extent of jive millions, duties, or duties and taxes, 

 to the extent of fourteen millions, nearly, would be remitted 

 from the same date. If the Sinking Fund be not efficient 

 to that extent, the ren)ission of duties or duties and taxes, 

 must be limited accordingly. 



The duties or duties and taxes, to be thus remitted, 

 whether extending to fourteen millions or limited to nine 

 millions, or extending to some intermediate sum, would 

 clearly precede all den)and in respect of the liquidation of 

 the Public Debt. 



Tlie demand, in respect of property, would be Three 

 hundred and seventy-five millions, or, after the rate of 

 Eighteen millions seven hundred aufl fifty thousand pounds 

 per annum, at the option of the contributor. 



• Written in 1821. 



