are the difference between the
interest charged on the public for moneys borrowed, and the produce of
the taxes laid for the discharge of that interest. Annual provision is
indeed to be made for them by Parliament: but in the inquiry before us,
which is only what charge is brought on the public by interest paid or
to be paid for money borrowed, the utmost that the author should do, is
to bring into the account the full interest for all that money. This he
has done in p. 15; and he repeats it in p. 18, the very page I am now
examining, 2,614,892_l._ To comprehend afterwards in the peace
establishment the deficiency of the fund created for payment of that
interest, would be laying twice to the account of the war part of the
same sum. Suppose ten millions borrowed at 4 per cent, and the fund for
payment of the interest to produce no more than 200,000_l._ The whole
annual charge on the public is 400,000_l._ It can be no more. But to
charge the interest in one part of the account, and then the deficiency
in the other, would be charging 600,000_l._ The deficiency of funds must
therefore be also deducted from the peace establishment in the
"Considerations"; and then the peace establishment in that author will
be reduced to the same articles with those included in the sum I have
already mentioned for the peace establishment before the last war, in
the year 1753, and 1754.

Peace establishment in the "Considerations" L3,609,700
Deduct deficiency of land and malt L300,000
Ditto of funds 202,400
-------- 502,400
---------
3,107,300
Peace establishment before the late war, in
which no deficiencies of land and malt, or
funds are included 2,346,594
---------

Difference L760,706

Being about half the sum which our author has been pleased to suppose
it.

Let us put the whole together. The author states,--

Difference of peace establishment before and
since the war L1,500,000
Interest of Debt contracted by the war 2,614,892
---------
4,114,892
The _real_ difference i