DuringtheadministrationofMr。Pelham，theinterestofthepublicdebtwasreduced，oratleastmeasuresweretakenforreducingit，fromfourtothreepercent;thesinkingfundwasincreased，andsomepartofthepublicdebtwaspaidoff。In1755，beforethebreakingoutofthelatewar，thefundeddebtofGreatBritainamountedtoL72，289，673。Onthe5thofJanuary1763，attheconclusionofthepeace，thefundeddebtamountedtoL122，603，3368s。21/4d。TheunfundeddebthasbeenstatedatL13，927，5892s。2d。Buttheexpenseoccasionedbythewardidnotendwiththeconclusionofthepeace，sothatthough，onthe5thofJanuary1764，thefundeddebtwasincreased（partlybyanewloan，andpartlybyfundingapartoftheunfundeddebt）toL129，586，78910s。13/4d。，therestillremained（accordingtotheverywellinformedauthoroftheConsiderationsontheTradeandFinancesofGreatBritain）anunfundeddebtwhichwasbroughttoaccountinthatandthefollowingyearofL9，975，01712s。2
15/44d。In1764，therefore，thepublicdebtofGreatBritain，fundedandunfundedtogether，amounted，accordingtothisauthor，toL139，516，8072s。4d。Theannuitiesforlives，too，whichhadbeengrantedaspremiumstothesubscriberstothenewloansin1757，estimatedatfourteenyears’purchase，werevaluedatL472，500;andtheannuitiesforlongtermsofyears，grantedaspremiumslikewisein1761and1762，estimatedattwenty—sevenandahalfyears’purchase，werevaluedatL6，826，875。Duringapeaceofaboutsevenyears’continuance，theprudentandtrulypatriotadministrationofMr。Pelhamwasnotabletopayoffanolddebtofsixmillions。Duringawarofnearlythesamecontinuance，anewdebtofmorethanseventy—fivemillionswascontracted。
Onthe5thofJanuary1775，thefundeddebtofGreatBritainamountedtoL124，996，0861s。61/4d。Theunfunded，exclusiveofalargecivillistdebt，toL4，150，2633s。117/8d。Bothtogether，toL129，146，3225s。6d。Accordingtothisaccountthewholedebtpaidoffduringelevenyears’profoundpeaceamountedonlytoL10，415，47416s。97/8d。Eventhissmallreductionofdebt，however，hasnotbeenallmadefromthesavingsoutoftheordinaryrevenueofthestate。Severalextraneoussums，altogetherindependentofthatordinaryrevenue，havecontributedtowardsit。Amongstthesewemayreckonanadditionalshillinginthepoundland—taxforthreeyears;thetwomillionsreceivedfromtheEastIndiaCompanyasindemnificationfortheirterritorialacquisitions;andtheonehundredandtenthousandpoundsreceivedfromthebankfortherenewaloftheircharter。
Tothesemustbeaddedseveralothersumswhich，astheyaroseoutofthelatewar，oughtperhapstobeconsideredasdeductionsfromtheexpensesofit。Theprincipalare，Ls。
d。TheproduceofFrenchprizes690，44918