8 
MONTHLY 
No. 140. | 
MAGAZINE. 
MARCH 1, 
| No. 2, of Vou. Qle 
ORIGINAL COMMUNICATIONS. 
Tothe Editor of the Monthly Magazine. 
SIR, 
T a moment when every thing that 
A regards our Welfare as a Nation is 
juftly viewed with the deepeft Intereft, and 
when, by the recent change of Adminif- 
tration, the country appears likely to 
awake from that Night of political Blind- 
nefs.in which it has been fo long involved, 
it may not be improper to draw the atten- 
tion of your readers to the actual fate of 
our Finances, and to fhew that a wife Ad. 
miniftration, fupported by the Confidence 
of the People, may without much difficulty 
refeue us fromthat gulph of National 
Bankruptcy towards which, in the opinion 
of many perfons, we were rapidly whirled 
by the corrupt and overbearing fyftem of 
the late Minifer. 
E fhall in the firft place ftate correStly 
the amount of the National Debt at the 
begining of the prefent year ; and I fhall 
then demonftrate that the National Cre- 
ditors, under a fuitable arrangement, 
have nothing to apprehend frem» the 
amount of that debt ; but, on the contra- 
ry, fhall prove that they will be paid off 
fooner probably than they would defire, 
The amount ‘of ‘the public 
funded debt. of Great-Bri- 
tain on the sth January, 
1805 (according to the ac- 
counts prefented to the 
Houfe of Commons) was £.603,925,792 
The ftock created by loan of 
1805, was > 
£,.642,625,792 
There has been transferred 
for the redemption of the 
land-tax - £.22,000,000 
£ 620,625,792 
And there has been redeemed 
by the Commiffioners for 
management of the finking- 
fund - £:113,500,000 
Leaving as the amount on the 
3utt of January, 1806 | £.507,125,792 
* Inthe laft year 1805, 7,615,167]. 7s. od. 
were expended by the Commiffioners ; and 
r,906,1041. 17s. ;3d. will be applied in the 
quarter between the rf of February and the 
-Uft of May 1806. It appears that the fol- 
Jowing fiock has been purchafed between the 
i NAnnroreWAar Niaz 
vr zm 
£.38,700,000 
Of this debt of 507 millions, nearly 
100 millions confift of 4 and 5 per cent. 
flock, which being converted into 3 per 
cents., makes the total amount in 3 per 
cent. {tock 557 millions; and valuing the 
3 per cent. ftock at 60 per cent. (which 
is the prefent average price), the total ca- 
pital of the debt in money is 334 millions 
of pounds fterling. 
The original. provifion of the Sinking. 
Fund of a Million per annum, with the 
additions that have fince been made to it, 
and the dividends. on ftock bought up by 
the Commiffioners who manage that fund 
for the nation, amount altogether at this 
time to about 8,000,000 per annum. 
We have thus the evidence of fats, 
and of about Twenty years experience, to 
prove that the plan of that great political 
arithmetician the late Dr. Richard Price 
is alone adequate to counteract the fyftem 
of lavith corruption and prodigal expen- 
diture which marked the career of the late 
Minifter. A fingle million per annum, laid 
by fince 1786 for purpofes of accumulation, 
has multiplied itfelf, on. principles of com~ 
pound intereft, fo asto amount at this 
time to eight millions per annum ; and 
has created a capital in the hands of the 
National Commiiiioners of upwards of 
One Hundred and Thirteen Millions !! 1 
In other words, by the plan of tha 
acute calculator, the nation. began about 
twenty years fince to buy up i's own 
debts. The fund appropriated for this 
purpofe was to be one million per annum, 
to be laid out in the purchafe of fuch 
portions of flock as might be brought 
to market by the public. The Commif- 
fioners have fince applied the intere? arif- 
ing from the ftock which they have pur- 
chafed, to the increafe of their funds ; 
ee eS 
3d of February, 1805, and 31ft-of January 
laft, viz. 
Capital, Stock. 
Confolidated 
6,093,000 ; 3 per Ct. An, 
5 
6,468,492Red. An. Confol.3,804,486 18 
161,400 OldS. SeaAnn. 96,562 1¢ 
7 
5 
6 
Cafh paid, 
bays7oy573 
133,000 NewS.SeaAnn. 77,374 
22,050 3 per Ct. Ann, 1751 12,316 
92,024 lp. 3 per Ct. An.. 53,403 1 
125972913 i 
The interefl of this 12,972,913}. of ftock is 
389,1871..78. 94, which.added to the amount 
of jaft year gives nearly eight millions to 
be applied in the prefent year. 
