Note 153 — SUPPLEMENT TO SECTION III PART II.

I mean such a course of redemption as should not be liable to interruption by a WAR; or, as would be the effect of the establishment of such an unalienable sinking fund as has been described in the Appeal to the Public on the Subject of the National Debt, and the Observations on reversionary Payments.—Nothing can save us from bankruptcy but such a fund; and were it established, the 3 per cents., when they came to be redeemed, would soon rise to par; and, consequently, the obligation implied in this scheme to pay a part of them at par would occasion no additional expence. It is, however, so little to be expected, that such a fund will be ever established, that it would have been folly to have made the calculation given above, on any supposition less favourable, than that the 3 per cents. will bear the same price after the present war, that they bore after the last; and that we shall go on as we have hitherto done, paying off a million, or a million and a half, now and then in a time of peace.