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Chapter 72 of 97 · The Works of David Ricardo by David Ricardo

No. V: AN ESTIMATE OF THE PROFITS OF THE BANK OF ENGLAND FOR THE YEAR COMMENCING JANUARY 5 1797

656 words · All 97 chapters

Bank notes in circulation, L.11,191,720
Public deposits, 5,000,000
Surplus above permanent capital,† 3,826,890
————
20,018,610
Deduct cash and bullion, 5,000,000
————
Funds yielding interest, L.15,018,610 at 5 percent. L.750,930
Charge for management of national debt, 143,800
Do. do. loan, 20,506
Do. do. lottery, 1,000
Interest on 11,686,000l. lint to Government at 3 per cent. 350,604
————
Carry forward, 1,1,266,840

†

Edition: current; Page: [440]
Brought over, L.1,266,84C
Deduct—
Expenses, L.150,000
Stamps, 12,000
Voluntary contribution, 200,000
————
362,000
————
904.840
Dividend; percent. on 11,642,400l 814.968
————
Profit, L.89.872
————
ESTIMATE FOR THE YEAR COMMENCING JANUARY 1798
Surplus before 1797 . L.3,826,890
Do. of 1797, . 89,872
————
Bank notes in circulation, 13,334,752
Public deposits, 5,700,000
————
L.22.951,514
Deduct cash and bullion, 4,000,000
————
Funds yieding interest, L.18,951,514 at 5 percent., L.947,575
Do. do. loans, 27,410
Do. do. lottery, 1,000
———— 220,410
Interest on 11,686,800l. capital at 3 percent., 350,604
————
L.1,518,589
Deduct—
Expenses, L.158,000
Stamps, 12,000
Seven per dividend. 814,968
———— 984,968
————
Profit, L.533,621
————
YEAR COMMENCING JANUARY 5, 1799.
Former saving, L.3,916,762
Do, for 1798, 533,621
————
L.4,450,383
Bank notes, 14,062,300
Public deposits, 6,400,000
————
L.24,912,683
Deduct cash and bullion, 3,000,000
————
Funds yielding interest, L.21,912,683 5 percent, L.1,095.634
Charge for management of national debt, L.196,700
Do. do. loans, 16,115
Do. do. lotteries, .1060
———— 213,813
Interest on 11,686,800l 350,604
————
Carry torward, L.1,660,053
Deduct—
Deduct—
Expenses, 1.166,000
Stamps,∗ 24,000
Dividend 7 percent., 814,968
Bonus 10 percent., 1,164,240
————
2,169,208
Loss, L.509.155
————
YEAR COMMENCING JANUARY 5, 1800.
Former saving, L.4,450,383
Loss of 1799, 509,155
————
L.3,941,228
Bank notes, 15,841,900
Deposits, 7,100,000
————
L.26,883,128
Deduct cash and bullion L.3,000,000
Loan to Government, 3,000,000†
————
Funds yielding interest, L.20,883,126 at 5 percent., 1,044,156
Management of national debt, L.216,700
Do. loans, 12,489
Do. lottery, 1,000
————
230,189
Interest on 11,686,800l, 350,604
————
L.1,624,949
Deduct—
Expenses, L.174,000
Stamps, 24,000
Dividend 7 percent, 814,968
———— 1,013,968
————
Profit, L.611,981
————
YEAR COMMENCING JANUARY 5, 1801.
Former saving, L.3,941,228
Surplus, 1800, 611,981
————
L.4,533,209
Bank notes, 16,169,500
Deposits, 7,800,000
————
Loan to Government, L.3,000,000
Cash and bullion, 3,000,000
———— 6,000,000
————
Funds yielding interest, L.22,522,709 at percent, L.1,126,135
————
Carry forward, L.1,126,137

∗

†

Edition: current; Page: [442]
Brought over, L.1,126,135
Charge for manngement of national debt, L.215,200
Do. do. loans, 39,080
Do. do. lottery, 1,000
———— 255,280
Interest on capital, 350,604
————
L.1,732,019
Duduct—
Expenses, L.182,000
Stamps, 24,000
———— 206,000
————
1,1,526,019
Dividend 7 percent., L.814,968
Bonus 5 per cent., 582,120
———— 1,397,088
————
L.123,931
Property-tax,∗ 12,893
————
Profit, L.116,038
————
YEAR COMMENCING JANUARY 1802.
Former savings, L.4,553,209
Profits, 1800, 116,038
————
L.4,669,247
Bank notes, 17,030,000
Deposits, 8,600,000
————
L.30,319,247
Deduct—
Loan to Government, L.3,000,000
Cash and bullion, 3,000,000
———— 6,000,000
——————
Funds yielding interest, 1,24,319,247 at 5 per cent., 1,125,962
Charge for management of national debt, L.241,600
Do. do. loans, 22,538
Do. do. lottery, 1,000
—————— 265,138
Interest on capital, 350,604
——————
L.1,831,704
Deduct—
Expenses, L.190,000
Stamps, 24,000
Dividend 7 percent, 814,968
Bonus 2⅓ per cent, 291,060
———— 1,320,028
————
L.511,676
Property-tax,∗ 51,167
————
Profit, L.460,509
————

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Edition: current; Page: [443]
YEAR COMMENCING JANUARY 1803.
Former savings, L.4,660,247
Profits, 1802, 460,509
——————
L.5,129,756
Bank notes, 16,847,500
Deposits, 9,800,000
——————
L.31,277,256
Loan to Government, L.3,000,000
Cash and bullion, 3,000,000
—————— 6,000,000
——————
L.25,277,256 L.1,263,862
Management of national debt, L.266,000
Do. loans, 9,669
Do. lottery, 1,000
—————— 236,660
Interest on capital, 350,604
——————
L.1,851,135
Deduct—
Expenses, L.198,000
Stapms, 32,000
Dividend 7 per cent., 814,968
—————— L.1,044,968
——————
Property-tax on net profit, 5 per cent, 40,308
——————
Profit, L.765,839
——————
YEAR COMMENCING JANUARY 1804.
Former savings, L.5,129,756
Profits, 1803, 765,859
——————
L.5,895,615
Bank notes, 17,345,020
Deposits, 10,000,000
——————
L.33,240,635
Deduct—
Loan to Government, L.3,000,000
Cash and bullion, 3,000,000
—————— 6,000,000
——————
Funds yielding interest, L.27,240,635 5 per cent. 1,362,000
Charge for management of national debt, L.246,700
Do. do. loans,
Do. do. lottery, 3000
—————— 249,700
Interest of capital, 350,604
Carry Forward, L.1,962,334
Brought over, L.1,962,334
Deduct—
Expenses,
Expenses, L.206,000
Stamps, 32,000
Dividend 7 per cent. 814,968
Bonus 5 per cent. 582,120
—————— 1,635,088
——————
L.327,246
Property tax 6μ per cent, 20,452
——————
Profit, L.306,794
YEAR COMMENCING JANUARY 1805.
Former savings, L.5,895,615
Profit, 1814, 306,794
——————
L.6,202,409
Bank notes, 17,241,932
Deposits, 10,700,000
——————
L.34,144,341
Loan to Government, L.3,000,000
Cash and bullion, 3,000,000
—————— 6,000,000
——————
L.28,144,341 per cent. L.1,407,217
Charge for management of national debt, L.254,400
Do. do. loan, 11,683
Do. do. lotteries, 4000
—————— 270,083
Interest on capital, 350,604
Deduct—
Expenses, L.214,400
Stamps, 32,000
Dividend 7 per cent. 814,968
Bonus 5 per cent., 582,120
—————— L.1,643,088
——————
L.384,816
Property tax 10 per cent. 38,481
——————
L.346,335
——————
YEAR COMMENCING JANUARY 1806.
Former savings, L.6,202,409
Savings, 1805, 346,335
——————
L.6,548,744
Bank notes, 17,135,400
Public Deposits, 11,000,000
——————
Carry Forward, L.34,684,144
Brought over, L.34,684,144
Loan to Government, L.3,000,000 at 3 per cent.∗ L.90,000
Cash and bullion, 3,000,000
—————— 6,000,000
——————
L.28,684,144 at 5 per cent. 1,434,207
Charge for management of national debt, L.275,000
Do. do. loan, 18,130
Do. do. lotteies, 2,000
—————— 295,130
Interest on capital, 350,604
——————
2,169,941
Deduct—
Expenses, L.222,000
Stamps, 32,000
Dividend 7 per cent. 814,968
Bonus 5 per cent. 582,120
—————— 651,083
——————
L.518,853
Property tax 10 per cent. on surplus, L.51,885
† Do. do. on bonus and October dividend, 98,960
—————— 150,845
——————
Profit, L.368,008
——————
YEAR COMMENCING JANUARY 1807
Former savings, L.6,548,744
Profit, 1806, 368,008
——————
L.6,916,752
Bank notes, 17,405,000
Deposits, 11,000,000
——————
L.35,321,752
Loan to Government, L.3,000,000 at 3 per cent. 90,000
Cash and bullion, 3,000,000
—————— 6,000,000
——————
L.29,321,752 1,466,087
——————
L.1,556,087
Management of national debt, L.280,500
Do. loans, 16,115
Do. lotteries, 5,000
Commission for receiving property tax, 3,154
—————— 304,769
Interest of capital, 350,604
——————
Deduct— 2,211,460
Expenses, L.230,000
Stamps, 42,000
—————— 272,000
——————
L.1,939,460
Dividend 10 per cent. L.1,164,240
Property tax, -93,946
—————— L.1,358,186
——————
Profit, L.581,274
——————

∗

†

Edition: current; Page: [446]
YEAR COMMENCING JANUARY 1808
Former savings, L.6,916,752
Profit, 1807, 581,274
——————
L.7,498,026
Bank notes, 17,534,580
Deposits, 11,000,000
——————
L.36,032,606
Loan to Government, L.3,000,000 at 3 per cent. 1,90,000
Do. 3,000,000
Cash and bullion, 3,000,000
—————— 9,000,000
——————
L.27,032,606 1,351,630
——————
L.1,441,630
Management of national debt, L.193,300
Do. loan, 12,650
Do. lotteries, 2,000
Commission for receiving property duty, 3,154
—————— 211,104
Interest of capital, 350,604
——————
L.1,722,338
Expenses, L.239,000
Stamps, 42,000
—————— 281,000
——————
L.1,722,338
Dividend, 10 per cent. L.1,164,240
Property tax, do. 172,233
—————— L.1,336,473
——————
Profit, L.385,865
——————
YEAR COMMENCING JANUARY 1809
Former savings, L.7,498,026
Profit, 1808, 385,865
——————
L.7,883,891
Bank notes, 19,000,000
Deposits, 11,000,000
——————
L.37,883,891
Loan to Government, L.3,000,000 at 3 per cent. L.90,000
Ditto without interest, 3,000,000
Cash and bullion, 3,000,000
——————
9,000,000
——————
L.28,883,891 1,444,194
Management of national debt, L.205,500
Do. loan, 8,400
Do. lotteries, 3,000
Commission for receiving property duty, 3,154
—————— 220,054
Interest of capital, 350,604
——————
Carry forward. L.2,104,852
Brought over, L.2,104,835
Expenses, L.246,000
Stamps, 42,000
—————— 288,000
——————
L.1,816,855
Dividend, 10 per cent., L.1,164,240
Property tax, 181,852
—————— L.1,346,092
——————
Profit, L.470,760
YEAR COMMENCING JANUARY 1810
Former savings, L.7,883,891
Profit, 470,760
——————
L.8,354,651
Bank notes, 22,730,000
Deposits, 11,000,000
——————
L.42,084,651
Loan to Government, L.3,000,000 at 3 per cent. L.90,000
Ditto without interest, 3,000,000
Cash and bullion, 3,000,000
—————— 9,000,000
——————
L.33,084,651 1,654,232
Management of national debt, L.200,800
Do. loan, 11,680
Do. lotteries, 3,000
Commission for receiving property duty, 3,154
—————— 218,634
Interest of capital, 350,604
——————
L.2,313,470
Deduct—
Expenses, L.254,000
Stamps, 42,000
——————
296,000
——————
L.2,017,470
Dividend, 10 per cent., L.1,164,240
Property duty, 201,747
——————
L.1,365,987
——————
Profit, L.651,483
YEAR COMMENCING JANUARY 1811.
Former Savings, L.8,354,651
Profit, 1810, 651,483
Brought over, L.9,006,134
Bank notes, 23,547,000
Deposits, 11,000,000
——————
L.43,553,134
Loan to Government, L. 3,000,000 at 3 per cent L.90,000
Ditto, without interest, 3,000,000
Cash and bullion, 3,000,000
—————— 9,000,000
——————
L 34,533,134 1,727,765
——————
L.1,187,765
Manegement of national debt. L. 211,300
Do. loan, 14,703
Do. lotteries, 4,000
Do. life annuities, 206
Commission for receiving property duty, 3,454
—————— 233,662
Interest on capital 350,604
——————
L.2,402,031
Expanses, L.264,000
Stamps, L.42,000
—————— 306,000
——————
L.2,096,031
Devidend, 10 per cent., L.1,164,240
Property tex, 209,603
—————— 1,373,843
——————
Profit, L.722, 188
——————
YER COMMENCING JANUARY 1812.
Former saving, L.9,006,134
Profit 1811, 72,188
——————
L.9,728,322
Bank notes, 23,462,000
Deposits, 11,000,000
——————
L.44,190,322
Loan to Government, L.3,000,000 at 3 per cent, L.90,000
Ditto, without interest, 3,000,000
Cash and bullion L.3,000,000
—————— 9,000,000
——————
L.35,190,322 1,759,516
Management of national debt, L.208,000
Do. loans, 19,031
Do. life annuities, 369
Commission for receiving propety duty, 3,154
—————— 230,554
Intrest on capital 350,604
——————
L.2,430,674
Expenses, L.273,000
Stamps, 42,000
—————— 315,000
——————
Carry Forward, L.2,115,674
Brought Over, L.2,115,674
Dividend, 10 per cent, L.1,164,240
Property Duty, 211,567
—————— 1,375,807
——————
Profit, L.739,867
YEAR COMMENCING JANUARY 1813
Former saving, L.9,728,322
1812, 739,867
——————
L.10,468,189
Bank notes, 24,080,000
Deposits, 11,000,000
——————
L.45,548,189
Loan to Government, L.3,000,000 at 3 per cent L.90,000
Ditto, without interest, 3,000,000
Cash and bullion, 3,000,000
—————— 9,000,000
—————— 1,827,400
L.36,548,189 ——————
L.1,917,400
Management of national debt., L.223,100
Do. loan, 21,639
Do. do. 2000
Do. life annuities, 462
Commission for receiving propety duty, 3,154
—————— 230,554
Intrest on capital, 350,604
——————
L.2,518,359
Expenses, L.283,000
Stamps, 42,000
—————— 325,000
——————
L.2,193,359
Dividend, 10 per cent L.1,164,240
Commisson for receiving property duty, 219,333
—————— 1,383,573
——————
Profit, L.809,786
YER COMMENCING JANUARY 1814.
Former saving, L.10,468,189
1813, 809,786
——————
L.11,277,975
Bank notes, 27,840,000
Deposits, 11,000,000
——————
Carry forward, L.50,117,975
Brought over, L.50,117,975
Loan to Government without interest, L.3,000,000
Cash and billion, 3,000,000
—————— 6,000,000
——————
L.44,117,975 L.2,205,898
Management of national debt, L.227,000
Do. loan, 42,200
Do. life annities, 576
Commission for receiving property dut, 3,154
—————— 272,930
Interest of capital, 350,604
——————
L.2,829,432
Expenses, L.1,292,000
Stamps, 42,000
—————— 334,000
——————
L.2,495,432
Dividend, 10 per cent L.1,164,240
Property tax, 249,543
—————— 1,413,783
——————
Profit, L.1,081,649
YER COMMENCING JANUARY 1815.
Former saving, L.11,277,975
1814, 1,081,649
——————
L.12,359,624
Bank notes, 27,300,000
Deposits, 11,000,000
——————
L.50,659,624
Loan to Government, L.3,000,000
Cash and bullion, 3,000,000
—————— 6,000,000
——————
L.44,659,624 L.2,232,980
Management of national debt, L.250,000
Do. loan, 28,800
Do. life annities, 700
Commission for receiving property tex, 3,154
——————
282,634
Interest of capital, 350,604
——————
L.2,866,238
Expenses, L.300,000
Stamps, 87,500
——————
387,500
——————
L.2,478,738
Dividend, 10 per cent L.1,164,240
Property tax, 247,873
—————— 1,412,113
——————
Profit, L.1,066,625
Edition: current; Page: [451]
JANUARY 1816.
Former saving, L.12,359,624
Savings, 1813, 1,066,625
——————
L.13,426,249
——————

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