FUND. 
ne in the 
ie 
nk ing fun eo furplus, 
Dr. Price. But in claimin 
infcribed oma pillar to public credit for having adopted it, 
Mr. Pitt thought proper to affume the whole merit of the 
meafure to himielf, without the flighteft notice of i pe 
from which he had erived his sare aig and t ex- 
ibi his pee Gan 
either of: his magnz sone or gratitude 
f the three s which Dr. Pa communicated at is 
requeft, Mr. Pitt aes the moft feeble, from the fear of 
Y 
d the fame apprehenfions, however mach may be 
ro aaa bit he fhould have been “influenced oy them on 
this occafjo 
"In the fick 1 
oer 
aeopatd 
Teepe 
Pisaen 
retarded the operations of the fund in a final degree, as 
€ thoiild' be railed by, taxés towards redeeming the’ pri 
and {6'exiormous has béett the expenditure’ {ince the pafiing 
Since the éftablifhment of this plan, it has been the cuftons- 
of parliament to vote annually thé fum of 200,000/: in ad- 
ition to the million a by which its operations have 
been fo far accelerated. on the other hand they have 
been retarded, re the iments affifting the public loans, ' 
by the partial, and at lait the total alienation of the 3° 
years annuity, amounting to 4 ea: or er annum 
When. the finking fund va cftablifhed in the yea r 
1786, the ae debt, exclufive of the temporary annuities, 
confifte 
Bab 1,254 7, in the three per cents, 
32,750,000/. in the four per cents, 
17,869,994/. in the five per cents ; 
pina in the whole to 2 38,231,241 i. pe ‘the operation - 
ae Price’s plan, which was founded on a fj ftem 
g the per- 
manent debt to 183,536,680/. flock in the three per cents, 
which would have required little more than five angie and - 
a half annually to pay the intereft o Nor e the 
aera of this plan difappointed the hopes and expecta 
ns of the ic. They have in fact exceeded the c 
no means favourable ether to the cr 
the country. cus war, in mine 
been almoit inceflantly “nvolved durin 
the manner,. ioe in aes i 
parliament, it is impoffible to afcertain the exa&t amount of 
the debt which has been redeemed by the finking fund, as it 
was firft eftablifhed in 1786; for its operations are blended 
with thofe of another fund which was eftablithed foon after; 
for the purpofe a = oe any new debt which fhould be 
incurred By. the 
In the feveral rao which Dr, Price had ldgaae on the 
fubject, i: had ftrongly infifted on the neceflity, no yn i 
‘tedeeming. the prefent, but alfo of difcharging ae aL 
debt, by providing a fpecial oe hase that purpofe, and with 
that view he, recommende a, on every tool. bor. 
es - 4 conae : oft 
C 
he 
is accomplifh i in lefs than 40 oie) that 
might be Baa from 
recommendation o rice "an ack. 
ae 
re’ pafled, which dire€ted, ‘that j in all: futu¥e‘loans. an additio 
er. Gent over ‘and ‘above the annital intereft 
ncipal, 
fum* ‘of | ih: 
of” that aa, ‘that’ ed additional ‘fur aribunted, ‘in February 
lat’ (1810) to 348 8415567." oo ‘of - §61445,0001 which 
uld 
101,72 1,266/.5 and the free ateay would, have: been. only, jad_bee een “b orrowe d._ du 1 ing Pitt's: a dminifttation, on - 
ean In the ‘third, whic h in fa ds. the-} plan 3 adopted, the fecurity of Fe “hedene Ci, arid’ whitch has fiiée. been 
y, Mr. “no coe did-.was | propdfed'-to pres milhon funded ‘without, any 4j sétial “ptovifion’ for. its redemption, 
fitplag ae “the emporary. and life-aanuities. as they fe ith this fim, ar d the accumulating dividends on thé tock 
pofing the ftock to have been redeemed. ‘in the purchaled with it, together with the ‘fyrplus ee the 
er ‘cents, ed 
in 
Dr. Price, it would have amounted, i in. 40 years only,” to 
igre. and: the free yevenu ue tO °44579,7312, 20 to. 
little more ei two-thirds* its” ainoiint ‘by the firft’ plan.’ 
OL. 
by canta fim of’ 200;600/. ‘yoted by. parliament, be = 
ffock.’ portheled with both, arid’ abou : "pet 
ane ft ed the falling it of’ ‘fone life’ ‘Anfuit ae 
