the fame time fubmitting to the House, whether, by fimplifying the accounts of the Customs in a more compendious method, the business of that branch might not be contracted within a narrower compass Your Committee, imagining that it might be fatisfactory to the House to judge whether, among other caufes, the old taxes may have been affected by thofe impofed within the period of their inftructions, thought it right to call for an acoount of the net produce of all the taxes, from Eafter 1774 to Eafter 1782, diftinguishing each year; which is inferted in the Appendix, No. X. for the infpection of the House. The Committee proceeded next to state, from the papers laid before them by the officers of the Exchequer, the amount of the funded debt of the public on the 5th of January, 1776, and every fubfequent year, down to 1782, with the annual intereft thereon, and other charges. On the 5th of January 1776,(a) the debt was 123,964,500l. 7s. 24d. The intereft thereon was 4,339,502l. 2s. 5d. The management, and other charges for the fame, 72,3241. 9s. 2d. The annual intereft and charges, taken together, 4,411,8261. 115. 71⁄2d. On the 5th of January 1777, (b) the debt was 126,114,300l. 78.21d. Annual intereft, 4,402,4631. 175. 5d. Management and other charges, 73,5231. 165. 8d. Annual intereft and charges together, 4,475,9971. 148. 1 d. On the 5th of January, 1778, (c) the debt was 131,114,300l. 5. 2ąd. Annual intereft, 4,626,030l. 95. 11d. Management and charges, 73,533. 165. 8d. Intereft and charges together, 4,699,5641. 6s. 7‡d. At the foot of this year's account is the following nota bene. "No management on the five millions at 4 per cent. granted in 1777, is in"ferted in the year's account, being not then allowed by the Lords of the "Treasury." 11ld. In On the 5th of January 1779, (d) the debt was 137,083,4141. 125. tereft, 4,953,4471. 4s. 11d. Management and charges, 76,6971. 175. 11 d. Intereft and management together, 5,030,1451. 28. 10 d. At the foot of this account is this nota bene. "No management on the fix millions at 3 per cent. per annum, granted in 1778, is inferted in this year's account, not being allowed by the Lords of "the Treafury." On the 5th of January 1780, (e) the debt was 144,083,4141. 128. 11d. Intereft, 5,424,856l. 17s. 5d. Management and charges, 82,1421. 35. 11d. Intereft and charges together, 5,506,9991. 15. 4 d. "N. B. No management on the feven millions, at 3 per cent. granted in 1779, is inferted in this year's account, not having been then allowed by the "Lords of the Treasury." On the 5th of January 1781, (f) the debt was 156,067,871l. 15s. 9žd. Intereft, 5,930,591. 75. 5d. Management and charges, 99,5041. 18s. Interest and charges together, 6,030,014l. 5s. 5d. On the 5th of January 1782,(g) the debt was 177,052,4281. 18s. 8d. Intereft, 6,588,6811. 12s. 5d. Management and charges, 99,5941. 18s. Interest and charges together, 6,688,1861. 10s. 5d. VOL. VI.* (a) Appendix, No. XI. U u (b) Appendix, No. XII. (8) Appendix, No. XVII. "N. B. (c) Appendix, No. XIII. (Appendix, No. XVI. "N. B.. No management on the eighteen millions at 3 per cent. and on the "three millions at 4 per cent. granted in 1781, is inferted in this year's ac count, not having been then allowed by the Lords of the Treafury." 66 The Committee therefore find, That the debt having been, on the 5th of January 1776, 123,964,500l. 78. d. and on the 5th of January 1752, 177,052,4281. 18s. 8d. the increafe therefore of the funded debt, within that period, amounts to 53,087,9281. iis. 51d. They likewife find, That the annual intereft and other charges, on the th of January 1776, having been 4,411,8261. 118. 7 d. and on the 5th of January 1782, 6,668,1361. 10s. 5d. the increase of intereft and charges amounts to 2,276,3591. 18s. 19‡d. exclufive of the charges and management on the twenty-one millions granted in 1781, for which no allowance is yet made. It is however to be obferved, that to this fum fhould be added, as increafe of intereft, feveral fums, one of which is very confiderable, which have fallen in, during the period under confideration, by the dropping of lives, or the reduction of intereft. But the Committee olferve, that feveral fums of intereft, amounting together to 146,2821. 4s. 8d. which ftand in the account of the 5th of January 1782, under the article Exchequer; and the fum of 980,3381. 16s. 6d. having no capital affixed before it; making together the fum of 1,126,6211. 15. 2d. confift of annuities for long and fhort terms, or on lives, or on lives with the Lenefit of furvivorship. The Committee think it neceffary to obferve, that in the prefent year, there has been a loan of 13,5000,000l. which has added to the funded debt a capital of 20,250,000l. and has incurred an intereft of 793,1251. of which 118,1251. is an annuity for twenty-eight years. f The Committee then proceeded to examine the ftate of the unfunded debt, from the 5th of January 1776 to the 5th of January 1782, both inclufive'; and they find, as far as it relates to the Exchequer, that the total of Exchequer bills ftanding out undischarged; upon the land taxes, on the 5th of January 1776; on the malt taxes, on ditto.--on the act for raising a certain fum of money to wards the fupply anno 1775, on ditto, was 4,727,0541. 15s. 82d. The total of Exchequer bills ftanding out undifcharged on the 5th of January 1777, under the heads of land taxes, malt taxes, the act for raifing one million towards the fupply anno 1776, and another act for raifing a inillion and a half towards the fupply anno 1776, amounted to 6,860,8761. 15s. 2 d. The total of Exchequer bills ftanding out undifcharged on the 5th of January 1778, under the heads of land taxes, malt taxes, the act for raising one million towards the fupply anno 1777, and another act for raifing a million and a half towards the supply of 1777, amounted to 6,598,3281. os. 6d. The total of Exchequer bills ftanding out undischarged on the 5th of January 1779, under the heads of land taxes, malt taxes, &c. amounted to 7,516,056). 13s. 5d. The total of Exchequer bills standing out undifeharged on the 5th of January 1780, under the heads of land taxes, malt taxes, &c. amounted to 9,502,1741, 145. 8d. The total of Exchequer bills standing out undischarged on the 5th of January 1781, under the heads of land taxes, malt taxes, &c. amounted to 8,813,239). Es. gd. The The total of Exchequer bills standing out undifcharged on the 5th of January 1782, under the heads of land taxes, malt taxes, &c. amounted to 9,941,9881. 4s. 8d. of which fum 3,595,9881. 4s. 8d. is upon the land, and 926,000l. upon the malt tax; taken together, 4,521,9881. 4s. 8d.* Your Committee however obferve, that though they are obliged to state this laft fum as part of the Exchequer bills ftanding out undifcharged, and having the appearance of being an unfunded debt, yet that it confifts mostly of an anticipation of the land and malt taxes already voted by Parliament; and the only part of it that can with propriety be called an unfunded debt, arifes from the deficiencies of land and malt; which for two years may be fuppofed to be little fhort of one million. Your Committee find, that there is an intereft paid annually for Exchequer bills in circulation; which amounted, in the year ending the 4th of February 1776 (the period to which the Exchequer and the Bank calculate their warrants) to 127,210l. 16s. 1d. That intereft has increafed, fo as to amount, on the 4th of February, 1782, to 315,0141. 78. 9d. And the total of the interest paid, from the 4th of February 1775 to the 4th of February 1782, a period of feven years, amounts to 1,564,1681. 195. 4d. There is, befides, an expence incurred for falaries to the officers of the Exchequer bill offices, and for extra clerks and neceffary expences; which amounts, in the fame period of feven years, to 26,490l. 118. 11 d. Your Committee having examined the account referred to in Appendix, No. XVIII. and obferving, that on the 5th of January, 1780, the Exchequer bills ftanding out undischarged upon the land tax of 1778, of 1779, and of 1780, amounted to above 4,239,1031. which they apprehend exceeds confiderably two years net produce of that tax; enquired into the caufes of fo great an anticipation; and find the land tax, efpecially in war time, is voted before Christmas, and does not commence till the 25th of March following, and therefore that no confiderable payments can be expected till fome time after September following : And having before them the accounts of the arrears of the land taxes, they obferve that confiderable fums are left in the hauds of the Receivers General; and likewife confiderable fums are left uncollected in the country, in fome diftricts of which it appears there is an arrear of no less than two years. Although therefore the anticipation arifing from the term of the commencement of the act is not eafily to be corrected, yet they prefume to think that regulations might be made refpecting the Receivers General and Collectors, which would confiderably reduce the anticipation, and which they fubmit to the wifdom of the House. Your Committee likewife obferved, That the Fxchequer bills ftanding out undischarged on the 5th of January, 1776, upon the malt tax of the years 1774, 1775, and 1776, amounted to 1,696,000l. which is confiderably above the eftimated produce of that tax for two years. One way of accounting for this heavy anticipation is by the commencement of the tax, which is one quarter later than the land tax. In order to a full information upon this fubject, they examined Mr. Marriott, one of the Accomptants General of the Excife, who informed the Committee, that the credit given to malfters being four months, and the time allowed the collectors to go their rounds, which is every fix weeks, together with the time required for remitting the money, makes it near feven months before it comes to the hands of the Receiver General of Excife; and although the U u 2 Appendix, No. XVIII. the tax commences in June, no confiderable weight of malting commences till the month of October; but the most confiderable of all is in the months of February, March, and April following. Mr. Marriott inftanced the malt tax that was voted before Christmas, 1780, for the year commencing the 24th of June, 1781, and fays, That upon the 19th of June, 1782, it had paid into the Exchequer no more than 120,9941and that the remaining part of the produce of that year is not likely to be paid in till Christmas, 1782. The Committee having stated these circumftances, the Honfe will judge, in their wisdom, whether any remedy can be properly applied to this inconvenience. The Committee proceeded to examine the ftate of the unfunded debt of the army; which they find to confift only of the extraordinaries paid from the 1ft of February to the 5th of April, 1782, which amount to 1,092,2481. 195. 5žd. The unfunded debt of the ordnance, on the 3 1ft of December, 1781, amounted to 831,5651. 19s. 10d. The unfunded debt of the navy, on the 31st of December, 1781, amounted to 11,318,450l. 175. 3d. The total of the unfunded debt appears to be, But as the Committee have ftated above the anticipation of the land and malt, exclufive of the million of deficiencies, to amount to 3,521,9881. 4s. 8d. the fame being deducted from the above total will leave an unfunded debt of 19,662,2651. 16s. 6d. The Committee however think it necessary to observe to the Houfe, that, as there are many confiderable outstanding debts not yet liquidated, and not brought to account, under the different branches of navy, army, and ordnance, it is impoffible to state with accuracy the total of the unfunded debt at any given period. The Committee cannot help alfo obferving, that though the fum of 3,521,9881. 4s. 8d. has been deducted as above from the unfunded debt, having a provifion made for it by Parliament; yet that it conftantly operates as a debt bearing intereft, the anticipation going on progreffively from year to year, a fresh anticipation being always incurred before the former is difcharged. The Committee, in concluding the article of the unfunded debt, obferve, that the whole of the intereft upon that part of the unfunded debt which bears interest amounted, in 1781, to 316,720l. for the navy. 315,0141. for the other unfunded debt. Total 631,7341. The Committee being inftructed to enquire into, and to report to the House, the amount of the feveral fums expended between the 5th of January, 1776, and the 5th of April, 1782, on the heads of the navy, army, and ordnance fervice, diftinguishing what part of the faid fums has been incurred without the authority authority of Parliament; took into their confideration the ftate of the expences of the navy; and find, by examining the accounts laid before them, the amount of the fums granted for the fervice of his Majefty's navy, from the 1ft of January, 1776, to the 5th of April, 1782, diftinguishing each head of fervice to be as follows: S. d. £ 2,781,202 10 5 4,193,971 O O 24,856,000 O 31,831,173 10 5. *The amount of the expences incurred for the navy, without the authority of Parliament, from the 1st of January, 1775 to the 3 1ft of December, 1781, both inclufive, appears to be 17,132,350l. 9s. d. So that the whole expence of the navy, from the 1ft of January, 1776, to the 1st of January, 1782, including what has been voted for 1782, amounted to 48,963,5231. os. gid. The Committee think it proper to include the year 1775, as far as it relates to debt, thougly not within their inftructions from the Houfe; because there appears an increase of the navy debt in that year, amounting to 812,4781. 115. 91d. the greatest part of which must have arisen from the preparations of war. The Committee then found, that the fums of money granted by Parliament towards paying off and difcharging the debt of the navy, from the 1st of January, 1775, to the 1st of January, 1782, amounted to 7,700,000l. This laft fum being deducted from the amount of the fumis incurred without authority of Parliament, would leave the navy debt at 9,432,350l. 9s. old. but there must be added to that fum 1,886,100l. 8s. 3d. which was the navy debt as stated the gift of December, 1774, and which makes the whole 11,318,450l. 175. 3 d. which is just as it has been stated by the navy office, on the 31st of December, 1781. † The naval accounts being only made up to the 31st of December laft, the debt could not be clearly ftated by office farther than to that period; but we have reafon to conclude, from the progress of that debt in late years, that even that part of it which has been contracted from the 31st of December last to the 5th of April, has exceeded the fum intended for the difcharge of the navy debt in this feflion of Parliament. The annual interest on 7,918,000l. the amount of navy and victualling bills unpaid on the 31st of December, 1781, which is the only part of the navy debt carrying intereft, amounts to 316,7201. The intereft incurred is included in the debt made up at the end of each year. Your Committee muft obferve, that the navy debt, as it flood on the 31st of December, 1781, was nearly double what it was ever known to be. The annual incrcafe whereof will appear in the Appendix, No. XX. Your Committee have alfo inferted in the Appendix, No. XXI. an account of the expences incurred for the transport fervice during the waṛ. Thofe fums were formerly voted by Parliament feparately, but have in the present war been conftantly made a part of the navy debt, and are included in that account. Your Committee have only to obferve upon this head of fervice, which from its nature does not admit of a precife and accurate statement, That the inconveniences which arife from a large, extraordinary and increasing navy debt Appendix, No. XIX. Appendix, No. XX. en |