The enquirer. [volume] (Richmond, Va.) 1804-1815, 1807-04-03
lIRteceMa.lu.
From a Liverao'i irpe, eFF,SrHary I.
NEW Plan CT FRANCE.

The New Pan OF Finance prnfeiles to have for its
obeA provilion of the of maintaining the ho-
hour and indep, .ence Of the Britfh Empire during
the necefIary continuance Of the wars without per-
ccptibly ncreatng the burthsns oil the country, and
with mani n benefit to the in;erets of the public
creditor.
The propored mcclure is grounded on the fourth
ing fate Of the Permanent revenue OH the great
produce Of the War Taxes; or the high and aceumu-
latng amount Of the Sinking Fund and OH Tome in
ferior aids be derived from revenues e, free by
nutes originally granted for term Of years, and
now expiring.
The plan is adapted to meet feaie OF expenditure
nearly equal to tina, of the year 800 and ain,es
that during the war, the annual produce OF the per-
manent contemporary revenues will continue equal
90 the produce of the fame year 1906. Ii is under
food, that any further unforeieen charge or any
deficiency of revenue, fhall be feparasey and pecay
provided for.
Keeping th.fe premif-s in view, it is propofed,
that the War Loans for the years 1907, 1898, and
1909. 'fhall be l2 millions annually; for the year
1910, Millions and for each Of the following
years, millions.
Thofe feveral Loans, amounting for the fourteen
years go millions, be made charge on the
War Taxes, which are elfimated to produce 81 mill
lions annually.
The charge thus thrown the War Taxes is
meant he the of per cent. each Loan.
Every fash Loan viii therefore pledge 70 much of
that isl Loan of 9 millions will pledge 100000.
of the War Taxes. And in each year, if the
fhould he continued, further portion OF the War
Taxes will, in the fame manner be pledged. And
conequenty, the end Of fourteen years, if the
hould Ian 70 long, "a millions the whole produce Of
the War Taxes, would be pledged for the total of
the Loans, which would at that time have amounted
10 2lo millions.
The ten per cent. charge thus accompanying each
oan will be applied pay the intereh of the Loan
and TO form Sinking Fund, which Sinking Fund
will evleny be than five per cent. on fuch of
the fcyeral Loans fhall be obtained at lels
of intereh than iveper cent.
1t is we'll known, that five per cent Sinking
Fund, accommodating compound nteref, will
deem any fun of capital debt in IA years Confe-
quenty, the feveral portions of the War Taxes pre-
pofed be pledged for the feveral Loans above
toned, will have redeemed their REFLECTIVE Loans,
and be fucceiively liberated in periods of "a years
from the date Of each fuch Loan. The portions of
War Taxes thus liberated, may, if the war fhould
f be prolonged, become applicable in revolving
ferries, and may be again pledged for new Loans.
LIS, however, fhewn by the printed calculations
and tables, that whatever may ba the continuance
the operation, the Property Tax will not be paya-
bic beyond the period for which it is granted by
re 46 Geo. 3. ch. G5 but will, in every Gale, be in
force only during the war, and until the 9th day of
April next after the ratification OF dehnitive Treaty
OF Peace, and 40 longer.
1t is to lie obferved, that the charge for the
interea and Sinking Fund of the proprofed Loans,
being taken from the annual produce of the War
Taxes, deficiency equal to that charge will be ere.
a;ed III the amount of the temporary revenue appl-
cable to the War Expenditure
Supplementary Loans will be requifte to make
good that deficiency.
Thofe Supplementary Loans mutt increafe in pro-
portion the inereafng deficiency, if the War fould
be continued but will never amount, Pc
Rod of 90 years war from the prefent time, to more
than five millions in any year, beyond the amount
to which the Sinking Fund of that year will have been
raifed By this plan.
Ii is propofed that the Supplementary Loans fhall
bs formed the eaabliihed fem of Sinking Fund
OF one per the nominal capital.
The charge 70 created will be provided for, during
the irh three years. by the expiring Annuities; and
during that period the country will have the be-
neGt of an exemption from all additional burtheu..
From 800, and for the Fix following years. charge
pluit be provided for, amounting on the average of
thofe fevsn years, than 293, COOL annual
iy.
Aud thus provGon is made, OF the fcale Of aaual
expenditure, for ten years of war; if it houd be ne
cealry without any additional Taxes except to the
I7confderabe amount above fated AT the clofe Of
tina; period, taking the three per cents GO, aad
reducing the whole of the Public Debts at that rate
to money capital, the combined amount of the Pub
lie Debts will be 3s7 1868 oool. and the combined a.
mount of the feyeral Sinking Funds then exiting
VIII be ~, o00l. whereas the rrefent amount of
sbe whole Public Debt, taken on the fame fcaje Of
Calculation, !, 3527 cool and the prefrnt amount
OF the Sinking Funds is more than S335,oOol.
the war fhould Gill BE- continued beyond the ten
years thus provided for, it is propofed to take in aid
ut the public burhens certain excees to accrue from
the preieDt Sinking Fund That Fund, which Mr.
Pitt originally propofed TO limit to four millions an
nually, will, with the very large additions derived
20 it from this plan, have accumulated in 1907
to 10 large an amount as 81 millions lerng. In the
application of luch FUN, neither the true principle,
of Mr.; Fits fyRem, any JUN view of the real
interehs of the public, of the Stakeholder
himfef, be coniidered any longer oppoino an
Obnace to the Of obtaining at fuch a moment
fume aid in alienation OF the burtens and neceft,s
OF the country But it not propofed in any cafe to
apply to the charge of new Loans, larger portion
OF the Sinking Fund than fuch as will ALWAYS leave
amount of Sinking Fund equal to the interet paw
able fuch part of the prefent Debt as fall remain
unredeenied. Nor sit meant that this or any other
operation of Finance fbal ever prevent the redemp-
ton ct fun equal to the prefent Debt in a. Mort
period as that in which il would have been redeemed
II this New Plan had been brought forward Nor
VIII the final redemption Of any supplementary Loans
he Polponed beyond the period Of As years preIcri
bed by the A9 OF 1898, for the extinction Of all fu
tuTeI ANS. While each of the annual War Loan,
viii b ihecegivtly redeemed in fourteen wear, from
the date Of It's creation, 70 long as War hal CONT,
nue; aid whenever Peace nllll come, will be re.
deemed always Within period far fhort Of the d,
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