nd payable out of the produce of the
sinking fund. However the neat surplusses and savings, after all
deductions paid, amount annually to a very considerable sum;
particularly in the year ending at Christmas 1764, to about two
millions and a quarter. For, as the interest on the national debt has
been at several times reduced, (by the consent of the proprietors, who
had their option either to lower their interest or be paid their
principal) the savings from the appropriated revenues must needs be
extremely large. This sinking fund is the last resort of the nation;
on which alone depend all the hopes we can entertain of ever
discharging or moderating our incumbrances. And therefore the prudent
application of the large sums, now arising from this fund, is a point
of the utmost importance, and well worthy the serious attention of
parliament; which has thereby been enabled, in this present year 1765,
to reduce above two millions sterling of the public debt.

BUT, before any part of the aggregate fund (the surplusses whereof are
one of the chief ingredients that form the sinking fund) can be
applied to diminish the principal of the public debt, it stands
mortgaged by parliament to raise an annual sum for the maintenance of
the king's houshold and the civil list. For this purpose, in the late
reigns, the produce of certain branches of the excise and customs, the
post-office, the duty on wine licences, the revenues of the remaining
crown lands, the profits arising from courts of justice, (which
articles include all the hereditary revenues of the crown) and also a
clear annuity of 120000_l._ in money, were settled on the king for
life, for the support of his majesty's houshold, and the honour and
dignity of the crown. And, as the amount of these several branches
was uncertain, (though in the last reign they were generally computed
to raise almost a million) if they did not arise annually to
800,000_l._ the parliament engaged to make up the deficiency. But his
present majesty having, soon after his accession, spontaneously
signified his consent, that his own hereditary revenues might be so
disposed of as might best conduce to the utility and satisfaction of
the public, and having graciously accepted the limited sum of
800000_l._ _per annum_ for the support of his civil list (and that
also charged with three life annuities, to the princess of Wales, the
duke of Cumberland, and the princess Amalie, to the amount of
77000_l._) the