1807.) 
‘With refpeé to the fupplementary 
loans, they are not in any way to be 
charged on the war-taxes, but the in- 
terelt thereof, and a finking fund of one 
per cent. on the capital created, is to 
be provided for durmg the firft three 
years, from the expiration of fome termi- 
nable annuities, from new taxes of a 
fmall amount for the feven following 
years, and after that period from the 
furplus of the finking fund. This furplus 
~ will arife from anew ‘arrangement refpeét- 
ing the amount of the fund. 
Tt is propofed, that, in confequence of 
the great prefent increafe of the finking 
fund, from the appropriations on the 
war- -loans, that a conditional limit thall 
be fet to its future accumulation. The 
fund, when originally eftablifhed in 
1786, was to.increafe till it amounted to 
4,000,0001. per annum, and the furplus, 
which would have accrued beyond this 
fum, was to be at the difpofal of parlia- 
ment ; this rettriétion was afterwards 
done away as the debt had increafed fo 
rapidly, that 4,000,0001. per annum 
would’ certainly have become very In- 
futicient to accomplith any important 
reduction; but from the very large ad- 
ditions which will be made to the linking 
fund by the new plan, it will have ac- 
cumulated in 1817 (when the prefent 
finking fund will exceed the amount of 
the intereft on fuch part of the prefent 
debt as will be then unredeemed) to up- 
wards of 24,000,000l. per annum. In 
the application of an annual fam of this 
magnitude, neither the original plan of 
the finking fund, nor any equitable views 
of the interelts of the public, will be 
Arrangements propofed in Parliament. 207 
found to furnifh any objeétion to the pro- 
pofal of obtaining fome aid from this 
fource, in alleviation of the burthens and 
necefiities of the country, and thus par- 
ticipating in the benefits of this excellent 
inftitution, the whole relief afforded by 
which would otherwife be enjoyed by a 
future generation. It is not propoted, 
however, in any cafe, to apply in pro- 
viding for new loans, a larger proportion 
of the finking fund than fuch as will al- 
ways leave an amount equal to the in- 
tereft payable on fuch part or the pre- 
fent debt as thall remain unredeemed; 
nor is * meant to impede, in any degr ce, 
the redemption of a fum equal to the 
prefent debt, in as fhort a period as that 
in which it would have been redeemed if 
the propoted plan had not been adopted ; 
or that the final redemption of any fup- 
plementary loans fhould be pottponed 
beyond the period of 45 years prefcrib- 
ed by the act of 1792, for the extinétion 
of all future loans; ‘while the annual 
war-loans will be fucceflively redeemed 
in 14 years if the war continues, or if 
peace takes place will always be re- 
deemed conliderably within the betore- 
mentioned period of 45 years. 
The following table fhews the amount, 
which will thus be taken from the fink- 
ing fund in each year from 1817, with 
the combined amount of the finkine 
funds of the war debt, the fupplementary 
_debtj and the prefent debt, at the fame 
periods, and the total excefles of the 
prefent finking fund, which may in any 
viven year of peace be applied to the 
releafe of the war-taxes. 
Exceffes to be de- 
ducted from the 
Sinking Fund, 
Year 
commencing 
5th January. 
1817 853,333 
1818 960,000 
1819 1,066,666 
1820 1,333,833 
1821 1,333,333 
1822 1,333,933 
1823 1,200,000 | 
1824. 1,066,666 
1825 1,013,108 | 
1826 753,247 
Exceffes of Sinking 
Combined amount of |Fund, which in Peacc 
the Sinking Funds. 
may be applied to re- 
leafe of War-Taxes, 
24,096,718 1,707,366 
25,461,552 2,115,303 
26,814,628 2,383,637 
98,155,358 2,500,056 
27,963,124 2,275,628 
27,761,279 1,973,312 
27,549,341 - 1,589,213 
27 326,807 1,265,909 
97,063,145 1,013,108 
26,901,360 758,247 
Dd2 
