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at a diſcount from 10l. to 11l. and 13l. per cent[1] thoſe without intereſt at double that amount, although always paid within eighteen or twentymonths 5 the loſs ariſing from which Mr. Pitt endeavoured to correct in 1794, by obtaining an act[2] to aſcertain the punctual payment of all ſuch bills at the end of fifteen months, with intereſt from their date. That, however, failing in its effect, another act[3] was paſſed in 1797, to inſure the bills being ſatisfied, with intereſt, in 90 days from the date; ſince which the payments have been conſidered the ſame as if made in caſh. The parts of the naval expenditure ſatisfied in this manner, in the preſent war, have amounted to more than 10,000,0001. annually; reckoning the diſcount, therefore, on the whole of the intereſt and non-intereſt bills ſo low as 11l. per cent., the ſaving to the public annually would be 1,100,000l.
- ↑
Diſcounts on Navy and Victualling Bills,
1778 4½ to 8½ 1779 7, and from June, 10 and 11 1780 11½ to 12, the whole year. 1781 12 to 14, once as low as 11. 1782 11 to 13, once as low as 10. 1783 13 to 18, once as low as 9. 1784 15 to 21½, once as low as 12. - ↑ 34 Geo. III. c.21.
- ↑ 37 Geo, III. c. 25.
