Page:Rose 1810 Observations respecting the public expenditure and the influence of the Crown.djvu/39

 at a dicount from 10l. to 11l. and 13l. per cent thoe without interet at double that amount, although always paid within eighteen or twentymonths 5 the los ariing from which Mr. Pitt endeavoured to correct in 1794, by obtaining an act to acertain the punctual payment of all uch bills at the end of fifteen months, with interet from their date. That, however, failing in its effect, another act was paed in 1797, to inure the bills being atisfied, with interet, in 90 days from the date; ince which the payments have been conidered the ame as if made in cah. The parts of the naval expenditure atisfied in this manner, in the preent war, have amounted to more than 10,000,0001. annually; reckoning the dicount, therefore, on the whole of the interet and non-interet bills o low as 11l. per cent., the aving to the public annually would be 1,100,000l.