Statistics^ 
-*■2 ^'2 
By exchequer bills funded 
5,431,700 
0 
0- 
By increase of exchequer bills, outstand- 
ing 
3,914,600 
0 
0 
Total, 1 
38,633,918 
10 
8 
IRELAND. 
By increase of national debt — By loan 
1 1,396,615 
7 
8 
By increase of exchequer bills, outstanding 
A7B^579 
9 
8 
Total, 
1 1,875,194 
17 
4 
Grand total, / 1 13,303,529 19 9^- 
RICHARD WHARTON 
Whitehall T reasury Chambers, '> 
April 14, 1813. 3 
As the greater part of the debt bears only thfee per cent, per 
annum^ and 1 100 of its stock will produce no more than from 60 to 
1 65 in money the British financial writers estimate its real amount 
to be about 500 millions, because it might be purchased for that 
sum in cash. 
The following facts will explain to the reader why such great 
quantities of stock have been created at such low rates of interest. 
In 1 806, the British government borrowed eighteen millions of 
money — ^butthe stock created by it was exactly / 29,880,000 ; thus 
— they gave 170 stock three per cent, reduced ; 170 three per cent, 
consols. ; and /lO, five per cent, navy ; making /1 50 stock for /1 00 
money ; besides, there was I 2,880,000 more stock created than the 
money produced^ at this rate. Whether this was a bonus to the 
lenders, we are unable to say — the facts are as stated. 
Again—~in 1808, I 10,500,000 were raised— for every / 100, the 
lenders agreed to take / 1 1 8 35 6c?. in the four per cents.— making 
a stock of 1 12,408,475, and so bearing area/ interest of nearly five 
per cent, besides the usual discounts and premiums. 
The foregoing may serve to give a general idea of the nature 
of the British funds. But we do not pretend to understand the sub- 
ject minutely, or comprehend clearly, the financial operations of 
this government. They are surrounded by mystery ; and com- 
pletely known only to the few who “ gamble’* in them. The an- 
nexed explanation of terms will assist the reader to feel the monied 
pulse of the nation, on seeing the price of stocks quoted in the 
newspapers : 
