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TABLE A. 2.

Shewing the Effect of the Operation of a SINKING FUND at Six per Cent. in

the Redemption of a Debt of Twelve Millions of Money Capital, (which is the Amount of the first Year's War-Loan, according to the proposed Plan.—The Prices of 3 per Cents. are supposed to be at 75, and consequently the Interest of Money 4 per Cent.

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• The sinking fund in this table is supposed to operate by compound interest at the yearly rate of 4 per cent. But as the sinking fund would be applied quarterly, the capital of debt redeemed, and the progressive amounts of the sinking fund would be greater than the computations in this table represent them; the result of this mode of computation will, however, sufficiently shew that a 6 per cent. sinking fund operating by compound interest at 4 per cent. would redeem its capital in 13 years.

TABLE A, 3.

Shewing the Effect of the Operation of a SINKING FUND of 7 per Cent. in

Redemption of a Debt of Twelve Millions of Money Capital, (which is Amount of the first Year's War Loan, according to the proposed Plan). Price of 8 per Cents. is supposed to be at Par, and consequently the Inte Money 3 per Cent.

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* The sinking fund in this table is supposed to operate hy compound interest, at the yearly rate of 3 per cent. But as the sinking fund would be applied quarterly, the capital of debt redeemed, and the progressive amounts of the sinking fund, would be greater than the computations in this table represent them; the result of this mode of com putation will, however, sufficiently shew, that a 7 per cent. sinking fund, operating by compound interest at 3 per cent., would redeem its capital in about 12 years.

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Shewing the Means by which an Annual extraordinary Expenditure, to the

Amount of £.32,000,000, may be defrayed in each Year.

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YEAR,
Commencing

upon the Credit

WAR TAXES
LOAN
not pledged, Loans required

Supplementary Total in each Year: but remaining Korte Service provided for applicable to

in each of

of the Service of

Year. War Taxes.

the Year. the Year. *

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Note.-For the amount of war-taxes pledged in each year, to provide for interest and sinking fund of the loans charged upon those taxes ;--See l'able A, column 4.

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TABLE B.

Shewing the Total Amount of the Loan in any given Year, according to the proposed

Plan; and the Amount of the total Sinking Fund in thesame Year : also the Difference
between the Total Amount of the Loan, and the Total Amount of the Sinking Fund in
each Year. The 3 per Cents, are supposed to continue at 60.
1.

2.
3.

5.

6.

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5 January, 1816 .. 16,000,000 9,600,000 25,600,000 22,720,685 2,879,315 5 January, 1917 : 16,000,000 11,200,000 27,200,000 24,096,718 3,103,282 5 January, 1918 . : 16,000,000 | 12,800,000 28,800,000 25,461,552 3,338,448 5 January, 1919, . 16,000,000 14,400,000 30,400,000 26,814,628 3,585,372 5 January, 1820 .. 16,000,000 16,000,000 32,000,000 28,155,358 3,844,642 5 January, 1821 . 12,000,000 20,000,000 32,000,000 27,963,124 4,036,876 5 January, 1822 . 12,000,000 20,000,000 32,000,000 27,761,279 4,238,721 5 January, 1825. 12,000,000 20,000,000 32,000,000 27,549,341 4,450,659

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5 January, 1824 . . 14,000,000 18,000,000 32,000,000 27,326,807 4,673,193

5 January, 1825 . . | 16,000,000 16,000,000 32,000,000 27,093,146 4,906,854

5 January, 1826. .

16,000,000 16,000,000 32,000,000 26,901,360 5,098,640

* The sums in this column will of course shew how much will be borrowed in each year more than will be paid off in the same year.

TABLE B. 3.

Shewing the Total Amount of the Money CAPITAL OF Debt created in each

Year from 1793 to 1806, both inclusive, and the Amount of the corresponding Sinking Fund; also, the Difference between the Money Capital of Debt created, and the Amount of the corresponding Sinking Fund applied to the Extinction of Debt in each Year.

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1 Feb. 1793, to 1 Feb. 1794.
1794 to 1795
1795 to 1796
1796 to 1797
1797 to 1798

1798 to 1799 1799 to 1800 1800 to 1801

£ 4,500,000 12,907,452 19,490,647 29,726,797 44,029,399 15,000,000 15,500,000 18,500,000 34,410,450 23,000,000 10,000,000 10,000,000 21,526,699 18,000,000

1,630,615 1,872,200 2,143,595 2,639,724 3,352,579 3,937,923 4,257,547 4,578,690 5,073,854 5,639,500 5,970,102 6,470,738 7,128,078 7,773,400

£. 2,869,385 11,035,252 17,347,052 27,087,073 40,676,820 11,062,077 11,242,453 13,921,310 29,336,596 17,360,500 4,029,898 3,529,262 14,398,621 10,226,600

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€. 214,122,899

Average of these 14 years

15,294,492

Average of the first 14 years in Table B. 2.

3,459,850

Difference

11,834,649

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