JB/118/420/001

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10 Sept. 1812
To Ld Sidmouth

My Lord, a plan of the announced and pretended
benefit, what is it that for is to be going on, at
least for the next ten years? Nothing but expence,
their expence. £300,000 is but a part of it, and
for the first session what is the sum provided for it? £30,000,
just one tenth. For nine long years – the number may at
least serve for an example – for nine years are after
another so neither principal so much interest at compound
interest, thrown away.

On this occasion my Lord, give me leave to
submitt to your Lordship, and if such be your
Lordships pleasure through your Lordship's hands to Mr
Vansittart a principle of public economy which every
perhaps may be found not altogether of his
regard. The idea Being one of mine, though unfortunately it is
my Brothers, it may perhaps find attention encompassed
with less difficulty. It is that the real cost of a work is hence
set down till at compound interest an account has been taken of interest upon the several
annual sums that have been expended upon it, antecedently to
the completion of it. That if of a work which could be executed in two years the execution is spread out over
a compass length of ten years, there is so much interest lost,
and that which money would be saved, if the completion of the work were
executed performed in the first year of the ten years or the commencement of it
postponed to the last of the those ten years.

Identifier: | JB/118/420/001 "JB/" can not be assigned to a declared number type with value 118.
Date_1	1812-09-10	Marginal Summary Numbering	14
Box	118	Main Headings	panopticon
Folio number	420	Info in main headings field	to ld sidmouth
Image	001	Titles
Category	correspondence	Number of Pages	1
Recto/Verso	recto	Page Numbering	c1
Penner	jeremy bentham	Watermarks	th 1806
Marginals	jeremy bentham	Paper Producer	andre morellet
Corrections		Paper Produced in Year	1806
Notes public	draft; not included in letter 2190, vol. 8	ID Number	39474
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