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On the ordnance expenditure, the ſaving has been in a much larger proportion, becauſe all their debentures were without intereſt, and the diſcount from 24l. to 30l per cent.[1] The part of the ordnance expenditure which uſed to be paid bydebentures, and is now ſatiſfied by prompt payments, was, on the average of the laſt three years, 2,491,0001., and computing the diſcount at only 20l. per cent., the ſaving thus effected is 499,000l. annually.
The laſt head of ſaving by management, is under that of the eſtates of the Crown. The act of the 1ſt of Queen Anne[2] continued at the beginning of each ſucceeding reign, for limiting grants of crown lands to 31 years, put a ſtop to the actual alienation of the property of the Crown; but, in its operation, had the effect of greatly adding to the influence of it, and certainly afforded no protection whatever to its revenues, as will be ſeen in the note below[3]. In reigns antecedent to that of
- ↑ See Finance Report 1782, p. 22.
- ↑ 1 Ann. 11. i. c. 7.
- ↑ In 15 years, to 17 15, the whole income from crown lands, including rents, fines, and grants of all forts, was 22,6241., equal to 1,5001. a- year. Journals of H. C. vol. xx. . p. 520.; and in 7 years, to 1746, was 15,600l., equal to 2,228l. a-year. Journals, vol. xxv. p. 206.
