Osborne & Ward, Clerks.
Bristol Turnpikes.
Report of Mr. John Loudon MᶜAdam, to a General Meeting of Commissioners, 1st June 1818.
Bristol Office of Roads, 1st June, 1818.
Since I had the honour to report to the commissioners, in June 1817, the business of the roads has gone on successfully, and they have been kept in invariably good repair under the present system of management, notwithstanding the roads having been tried by all vicissitudes of the most unfavourable seasons ever known.
Several valuable improvements have also been effected in different parts of the district; the very promising state of the finances having induced the commissioners to employ great part of the savings of their income for that purpose, instead of applying the whole to the liquidation of the principal debt of the trust. This great debt has, however, been diminished nearly 500l. while the sum expended on the permanent improvements considerably exceeds 1,500l.
| £. s. d. | ||
|---|---|---|
| On the 25th March 1818, there was a balance in the hands of each of the treasurers, with exception of the Bitton and Toghill roads; and the balance due to that treasurer has been diminished upon the whole account; there remained in the hands of the treasurers, on the 25th March 1818, the sum of | 1,987 14 5 | |
| In the hands of the general treasurer, from 5 per cent. fund | £.502 5 11 | |
| Due by the Whitchurch road to the 5 per cent. fund, and included in the general debt | 300 0 0 | |
| 802 5 11 | ||
| Balance in hand, 25th March 1818 | £.2,790 0 4 | |
| =========== | ||
It is very gratifying to report to the commissioners this material amelioration of the funds during the present year, when the income of the trust has suffered a diminution of 425l. 5s. occasioned probably by the depression of trade throughout the country.
It is to be regretted that the directions of the general meetings respecting the payments to the 5 per cent. fund have not been more punctually obeyed; but without entering into the circumstances of heavy debt and other difficulties, which have hitherto prevented payments from particular treasurers, I beg leave to call the attention of the commissioners to a consideration of the importance of this fund, and the use to which it may be most advantageously applied.
The fund was instituted for the purpose of giving the general meetings the power of extending aid to any division of the roads of the district that might be in distress. As the favourable state of the funds, arising from the system of management adopted by the commissioners, gives a very reasonable hope that such occasion of distress may never again occur, it may be expedient to consider of the propriety of converting the 5 per cents. into a sinking fund.
By application of such a sum, amounting to about 850l. annually, to the gradual extinction of the debt of the trust, the means of continuing several useful and very desirable improvements will be diminished only in a small proportion, and the amendment of the general state of the roads will proceed, without entirely losing sight of the justice due to the creditors, and the desirable object of reducing a debt of such magnitude.