206 
for the intereft and fpeedy redemption of 
fuch loans as will be neceffary ; by which 
means, the burthen of new taxes will be 
avoided, and the prefent war-taxes gra- 
dually difcontinued on the return of 
peace. With this view it is propofed 
that the prefent war-taxes fhall be con- 
tinued for fuch further term as may be 
directed by future acts of parliament, 
for defraying the charge of any loans 
wlich may be charged thereon, in the 
following manner; on every loan char- 
ged on the war-taxes there is to be fet 
apart, out of the produce of thefe duties, 
10 per cent. on the amount of the fum 
borrowed, out of which the intereit and 
charge of management is to be paid, and 
A View of the new Financial 
fApril 1, 
the remainder to form a finking fund 
for redemption of the capital. 
It is affumed that the expenditure of 
each year, during the continuance of the 
war, will amount to 32,000,0001. beyond 
the furplus of the confolidated fund and 
the annual taxes; in order to fupport an 
expenditure of this extent, it will be ne- 
ceflary to raife annually from 12 to 16 
millions, by way of loan; and, as the pre- 
duce of the war-taxes will thus be gra- 
dually mortgaged, an additional or fup- 
plementary loan is alfo to be raifed for 
making up the deficiency. The follow- 
ing table fhews the amount of the loans, 
which it will thus be requifite to raife im 
each year. 
War-Taxes not 
comacating upon credit ok tePletgeds but appli-| Supplementary | Total provided 
Sth January. | Wicd Pass | ca e fies up- | Loans required, | for in each year. 
SE a ae a Te Ge EE es Gee eee ee 
1807 12,000,000 19,800,900 200,000 32,000,000 
1308 12,000,000 18,600,000 1,400,000 $2,000,000 
1809 12,000,000 17,400,000 2,600,000 32,000,000 
1810 , 14,000,000 16,000,000 2,000,000 32,000,000 
tc2 0 a 16,000,000 14,400,000 1,600,000 32,000,000 
1812 16,000,000 12,800,000 3,200,000 32,000,000 
1813 16,000,000 11,200.000 4,800,000 32,000,000 
1814 16,000,000 9,600,000 6,400,000 32,000,000 
1815 16,000,000 8,000,000 - 8,000,000 | * 32,000,000 
1816 16,000,000 6,400,000 9,600,000 32,000,000 
1817 16,000,000 4,800,000 411,200,000 32,000,000 
1818 16,000,000 3,200,000 12,600,000 32,000,000 
1819 16,000,000 1,600,000 14,400,000 32,000,000 © 
1820 16,000,000 nil, 16,000,000 32,000:000 
1821 12,000,000 nil, 20,000,000 $2,000,000 
1822 12,000,000 nil, 20,000,000 32,000,000 
1823 12,000,000 nil,” 20,000,000 32,000,000 
1824 14,000,000 nil, 18,000,000 32,000,000 
1825 16,000,000 nil. 16,000,000 $2,000,000 
1826 16,000,000 nil. 16,000,000 32,000,000 
From this table, it appears, that, fup- 
pofing peace to take place at the end 
of feven years from the prefent time, 
41,200,000]. of the war taxes wiil then 
remain unappropriated, and caniequent- 
ly that nearly the whole of the property 
tax (which is eftimated to produce 
11,500,000!,) might then be taken off 
immediately om the conclufion of the 
peace. It is poliible, however, that the 
war may continue much beyond this 
period, in which cafe, by proceeding on 
the: propofed fyltem, the whole amount 
ot thé wai-taxes will have been mort- 
gaged in 1820; in the next year, how- 
ever, the portion of thefe taxes, which 
had been appropriated to the loan of the 
firft year, will be fet free by the redemp- 
tion of a fum equal to that loan, and will 
then become applicable to the chargé of 
a freth luan of the like amount; a fimilar 
releaie will be effected in each fucceeding 
year, and, confequently a provifion is 
thus made from 1820, for loans without 
any further impofition of taxes, to an un< 
limited period, provided the fums bor- 
rowed do not exceed thofe in the fir 
column of the table, | 
With 
