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 in the peace establishment is L760,706 The actual interest of the funded debt, including that charged on the sinking fund L2,315,642 The actual interest of unfunded debt at most 160,000 -- ------- Total interest of debt contracted by the war 2,475,642 -- ------- Increase of peace establishment, and interest of new debt 3,236,348 -- ------- Error of the author L878,544 It is true, the extraordinaries of the army have been found considerably greater than the author of the "Considerations" was pleased to foretell they would be.