Note 35 — PART II.
Reading edition
Their debts consist chiefly of money raised by annuities on lives, short annuities, anticipations of taxes for short terms, &c. During the whole last war they added to their perpetual annuities only 12 millions sterling, according to Sir James Steuart’s account; whereas we added to these annuities near 60 millions. In consequence therefore of the nature of their debts, as well as of the management they are now using for hastening the reduction of them, they must in a few years, if peace continues, be freed from most of their incumbrances; while we probably (if no event comes soon that will unburthen us at once) shall continue with them all upon us.