JB/003/080/003

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Note continued.

Year, is so much added to the total of money raised for the current ser-vice of that year, the one per cent perpetual annuity upon that part comes to be added to the rest.

The amount of this indirect addition is not inconsiderable: as for example -

Assumptions

Allowance to the original Sinking Fund in each given War Year (appropriated million, and customary £200,000 toge-ther) amounts to ... ... £ 1,200,000

Rate of Interest for that years Loan, say (for the sake of round numbers) ... ... Open cent

Capital created at that rate ... ... 2.400,000

Result

The annuity of one per cent upon that capital amounts to ... 24,000

Was this indirect addition intended? If so, or if upon observa-tion it should be thought fit to be continued, it would be easy to conti-nue it in the direct mode.

Observations on the above Hints by a man of experience in Parliament.

"I return your Sinking Fund Elucidations: they appear to be

"very correct and very clearly and briefly expressed.

"Whether they would be adopted may depend on many circum-

"stances.

"1. The amount of savings to result from the change should

"shown + to be considerable: a change (per se) being objectionable.

"2. The change being professedly for War Years, might there not be

"some objection to proclaiming ¦¦ the continuance of a War prospect

"unlefo

+ Say rather should appear: viz: to those to whom it belongs to judge: but in what degree it is so, they see, or may see, without my shering, much better than I can sher. From one the bare hint, if not superfluous is quite sufficient.

¦¦ No proclaiming in the case: some would be in the proposed Act: none was in the existing Act: the contrary would be pro-claimed, if necessary, in the Speech introductory to the Act. The existing Act was made at a time

Identifier: | JB/003/080/003 "JB/" can not be assigned to a declared number type with value 3.
Date_1		Marginal Summary Numbering
Box	003	Main Headings	annuity notes
Folio number	080	Info in main headings field
Image	003	Titles
Category	copy/fair copy sheet	Number of Pages	4
Recto/Verso	recto	Page Numbering	f5 / f6 / f7 /
Penner		Watermarks	1798 am
Marginals		Paper Producer
Corrections		Paper Produced in Year	1798
Notes public	"spoilt"	ID Number	1490
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