Note 29 — PART IV. OF PUBLIC CREDIT. (continued 2)

I find that the sinking fund is now estimated at 2 100 000l. by the author of the Considerations on Trade, &c. above cited. I am also informed that the net produce of the customs exceeds 2 000 000l. considerably: but 4 600 000l. is rather the gross than the net produce of the permanent duties of excise; that is, of all the excise duties, excepting the annual malt-duty. It must also be observed, that the annuities payable to the national creditors, amounted, the 5th January 1764, to more than 4 720 000l. But on the other hand, the interest of the unfunded 9 millions is rated too high, as appears from the author above quoted. I cannot pretend to give exact details. The general sketch here stated is sufficient for my purpose.