which was thereby enabled, in the year 1765, to reduce above two millions ſterling of the public debt.
But, before any part of the aggregate fund (the ſurpluſſes whereof are one of the chief ingredients that form the ſinking fund) can be applied to diminiſh the principal of the public debt, it ſtands mortgaged by parliament to raiſe an annual ſum for the maintenance of the king's houſhold and the civil liſt. For this purpoſe, in the late reigns, the produce of certain branches of the exciſe and cuſtoms, the poſt-office, the duty on wine licences, the revenues of the remaining crown lands, the profits ariſing from courts of juſtice, (which articles include all the hereditary revenues of the crown) and alſo a clear annuity of 120000𝑙. in money, were ſettled on the king for life, for the ſupport of his majeſty's houſhold, and the honour and dignity of the crown. And, as the amount of theſe ſeveral branches was uncertain, (though in the laſt reign they were computed to have ſometimes raiſed almoſt a million) if they did not ariſe annually to 800,000𝑙. the parliament engaged to make up the deficiency. But his preſent majeſty having, ſoon after his acceſſion, ſpontaneouſly ſignified his conſent, that his own hereditary revenues might be ſo diſpoſed of as might beſt conduce to the utility and ſatisfaction of the public, and having graciouſly accepted the limited ſum of 800000𝑙. per annum for the ſupport of his civil liſt (and that alſo charged with three life annuities, to the princeſs of Wales, the duke of Cumberland, and the princeſs Amelia, to the amount of 77000𝑙.) the ſaid hereditary and other revenues are now carried into and made a part of the aggregate fund, and the aggregate fund is charged with the payment of the whole annuity to the crown of 800000𝑙. per annum[1]. Hereby the revenues themſelves, being put under the ſame care and management as the other branches of the public patrimony, will produce more and be better collected than heretofore; and the public is a gainer of upwards of 100000𝑙. per annum by this diſintereſted bounty of his majeſty. The civil liſt, thus liquidated, together with the four
- ↑ Stat. 1 Geo. III. c. 1.
