The nett revenue of England charged with all its debts and expence of government, we have said to amount to 10 213 000l. The gross revenue of France, on the other hand, appears to amount to 24 740 834l. sterling.
But if from this be deducted that part which never enters the royal treasure, and which is expended in levying the revenue, and in appropriations for particular perpetual expences, to the amount of 6 815 111l. sterling, there will remain of net income, paid into the King’s coffers, and charged with all the debts and expence of government, only 17 925 723l. sterling.
If from this sum we deduct the total amount of the net revenue of Great Britain, (10 213 000l. sterling) the remaining sum of 7 712 723l. sterling, will shew the excess of the French revenue above that of England.
The foregoing sum of 17 925 723l. sterling, arises from the following branches:
1mo, Those which compose the King’s ordinary revenue; which, at the peace 1763, amounted to 12 546 666l. sterling, burdened with the payment of 2 022 222l. sterling of interest of the debts charged upon it.
2do, The extraordinary taxes established for a limited time, after the peace of Aix-la-Chapelle. These amount to 2 326 133l. and are totally appropriated for the payment of capitals, and interest upon them, incurred during the late wars, according to the principles of public credit in practice in England, during the reign of K. William and Q. Anne: and so soon as this fund has cleared the charges upon it, it is to cease, being no permanent branch of revenue.
3tio, The extraordinary revenue raised on account of the last war. This amounts to 3 052 923l. sterling, and consists of the second and third twentieth penny, granted for a very limited time, and appropriated, as the former branch, for discharging the debts lately contracted. The sum of these three branches made the total of the 17 925 723l. paid in to the King’s treasury, and burdened with all the public debts.
If we therefore suppose the two last branches of French revenue to be continued until all the debts charged upon them are paid, then we shall find the state of that kingdom reduced to the King’s ordinary revenue of 12 546 666l.; from which however must be deduced at least one half of the capitation. This half amounts to 1 182 222l. sterling, and is so burdensome, that its continuance will be impossible. The revenue therefore will be reduced to 11 364 444l. sterling, charged with 2 022 454l. sterling, interest of debts; of which indeed 711 111l. are annuities upon lives, and must therefore be extinguished in time.
According to this view, the revenue of France will be 11 364 444l. sterling, charged with the annual payment of 2 022 222l. interest of debts: and the revenue of Great Britain is 10 213 000l. charged with the annual sum of 4 860 000l. interest of debts.
What remains free for France is 9 342 222l. sterling; and for England, 5 353 000l.