The Sun.
London, England, 1822-05-08 00:00:00

MEETING qt the TREASURY CHAMBERS

Yesterday, pursuant to appointment, a Meet-
ing took place at the Treasury Chambers, on the
Subject of 'the new Plan for paying off the 'Pen'.
sions. Upwards of a hundred Gentlemen, in-
cluding the representatives of the principal
monied interest of the City, were present. At a
few minutes past twelve o'cloCk the Gentlemen
were admitted, when the Earl of Liverpool, who
was attended by the Chancellor of the Exche-
quer, read the following Plan :--
It is proposed that such parties as. may be willing to enter
into a contract for paying into the Exchequer, within forty-five
years, the several sums hereafter-mentioned, by four equal
quarterly instalments, viz.—
I sth January, 15th July, and
15th April, 20th October,
In each year respectively.
- £4,900,000 24th Year
- 4,700,000 25th -
- 4;540,000 26th
- 4,410,000 27th • -
- 4,290,01)0 28th •
- 4,110,000 29th
- 4,000,000 30th
- 3,860,000 3lst - -
- 3,720,000 32d -
- 3,590,000 33d
- 3,4.90;000 34th :
- , 3,310,000 35th,, ;
3,180,000 36th
3,050,00 Q 37th. . -
2,910,000 . 36th,); -
2,700,Q00, ;39th '0..1 .-
21)60;000 40t11.,...2.,'
2,530,000: 415 t;..:;
2,290;000' 43d
2,170,000
2,060,00 a 45th
1,9511,000.

- £1,830.000
1,730,000
1,630,000
1,530,000
1,430,000
1,340,000
1,250,000
1,170,000
1,080,000
1,000,000
920,000
860,000
780,000
720,000
660,000
.600,000
540,000
490,000
440,000
390,000
350,000
300,000

Ist Year
2d -
3d -
4th .
sth
6th -
7th -
Bth -
9th -
10th -
tlth -
t 2th -
3th -
.4th -
sth -
fith
7th
Bth -
9th -
20th
21st -
22d -
23d .
—Shall receive a 'compensation for such. Payments in .a fixed
amount of Annuity for forty'-five years,. commencing from the
10th of October, 1822; and payable half-yearly at the Bank, of
England ; or, if desired, at the South'Sei.flOtisel or, with. he:
approbation of the Lords of the Treasttryi at the Office of any
Corporation' or Public Company which may undertake the
Contract.

. , .

A deposit of 400,0001. to be lodged in the Bank of England
in Exchequer Bills, within three days after the signature of the
Contract, and whiCh will be returned to the Contractors on the
completion of their first payment.

The Annuity to be vested in Trustees, to be named by the
Treasury and the parties.

,An allowance for management to be granted, at the rate of
3001. per million, upoda capital calculated at twenty.five years
purchase of the Annuity.
The parties contracting will be required, by way of security
for the performance of the engagement, to make advances on
account of the said payments into the Exchequer, to the extent
of five millions • beyond the amount of the Annuity to be re.
ceived within the same time, before any part of it shall be
placed at their disposal, except in a case of a Company possess_
ing a capital vested in Government securities, and not liable to
other claims, which capital will be considered as security to the
extent of its actual value.

After the completion of such payment for security, the An-
nuity will be placed at the disposal of the parties contracting,
by yearly assignments or transfers, in the following manner :
Upon the sth day of January, sth of
April, sth of July, or 10th of Oc-
tober, which may next happen, af-
ter the said sum of £5,000,000
shall be advanced, and upon the
same quarterly day of each of the
four following years - - X 90,000 per ann. £450,000
On the same quarterly day,of each of
the five following years - - 80,000
On the same quarterly day of each of
the five following years - - 70,004
On the same quarterly day of each of
the five following years - - 60,000
On the same quarterly day of each of ,
the five following years - 50,000
On the same quarterly day of each of
the five following years -

400,000

350,000

300,000

250,000

40,000

200,000

£1,950,000
And after the expiration of this period, the remainder of the
Annuity, which may then continue vested in the Trustees,
will be assigned or transferred according to a progression to be
then settled by the Lords of the Treasury, until the amount
of the Annuity remaining shall be equal to the yearly sum to
be thenceforward paid into the Exchequer.
The Lords of the Treasury to have a power to assign a
larger proportion of the Annuity to the Contractors, provided
a sum equal to the value of the excess of the annuity so to be
assigned shall be lodged in Exchequer Bills, in the hands of
the Trustees, for the purpose of security, and paid in from
time to time as cash in satisfaction of the further payments to
be made, and shall remain unchanged at the rate of interest at
which they were issued. - •
His Lordship then stated, that if any of the Gentlemen pre-
sent wished for any further explanation, he, with the Chan-
cellor of the Exchequer, would be ready to give it.
Mr. PASCOE GRENFELL wished to know whether the whole
was to be in one contract, or that it would be divided ?
The Earl of LIVERPOOL wished it to be in one contract;
but, if the offer was not satisfactory, the Lords of the Treasury
would have no objection to divided. His Lordship added, that
he wished it to be distinctly understOod that the contractors
would have nothing to do with the chances or contingencies of
the lives of the pensioners; but that the sums to be paid every
year were to be according to the scale behad rend.
Mr. KEMBLE inquired if the 5,0001000 deposit was to be
money ?
The CitarrcEumn of the EXCIIERVER said, it might be
paid in Exchequer Bills, Stock, or any species of Government
securities, not having a lien or claim upon it. He added, that
no part of the annuity would be at the diiposal of the Con-
tractors, until the whole of the depositLwas paid.
Mr. Isaac 'Lrox•GOLDSIVID• wished. to know, if a larger
sum in annuities for five years than 450,0001. might not be ob-
tained by a larger deposit than-five mitllons'?
The Earl of 14iVERroot. was of opinion that it might ; but
this would be at the discretion of the Lirds Of the Treasury. •
• After some other conversation,.. in which Mr. Rotriscifmn,
Mr. KEMBLE, Mr. GOLDSMID, and several other Gentlemen
took a part, ,•.,. . .• .•-• •is r -• •• • •
The Earl of Li VE said, ..seated the plan,
he wished to have another prelimiriarY.Xeeting,. in order that
Gentlemen, after duly considering it, Inight offer' any 'Objec-
tions, or obtain; any farther explanations, they might deem ne-
cessary. If, therefore, it was convenient, he:would fix Friday
next for the second preliminary- Mee4ing, when. the plan
should be considered as finally Settled"; and that Tuesday
might be fixed for receiving the offers'Ofthe Contractors.
On the suggestion 'Of Mr. RiaTtisttip.D, Friday next, at
eleven, was fixed for the second meeting. The parties then
separated.

The Duchess of GLOUCESTER and the Princess
AUGUSTA rode out together yesterday, and called
to pay their respects to his MAJEsTv.—On Mon-
day the Duchess of KENT, accompanied by the
Princess FEODORE, went to Bushy Park, on a
visit to the Duke and Duchess of CLARENCE.—
'rhe Royal Duchess and the Princess returned to
Kensington in the evening.
FUNERAL OF SIR ISAAC HEA►tn.---The remains
of the late venerable Sir IsAAc HEARD were
yesterday morning removed from the Heralds'
College, Doctors' Commons, for interment in St.
George's Chapel, Windsor. The gorgeous Mantle
and Garter of the deceased were displayed upon
the hearse, which was followed by eight mourn-
ing coaches, containing the Officers of the
Heralds' College. A line of private carriages
closed the procession,