1792, £1,558,504 1793, 1,634,972 1794, 1,872,957 1795, 2,143,697 1796, 2,639,956 1797, 3,393,210 1798, 4,093,164 1799, 4,528,568 1800, 4,908,379 1801, 5,528,315 1802, 6,114,033 1803, 6,494,694 1804, 6,436,929 1805, 9,406,865 1806, 9,602,658 1807, 10,125,419 1808, 10,681,579 1809, 11,359,691 1810, 12,095,977 1811, 13,073,577 1812, 14,098,842 1813, 16,064,057 1814, 14,830,957 1815, 14,241,397 ———————————— £186,928,399 —PORTER’S _Parl. Tables_, i. 1. It is a total mistake to allege, as is often done, that this immense and growing sinking-fund was obtained entirely by borrowing with the one hand what was paid off with another. The _funds_ thus applied to the reduction of debt were obtained from the _indirect_ taxes set apart on the contraction of each loan, in amount adequate not only to defray its annual interest, but also to extinguish, within forty-five years after it was contracted, the principal of the loan itself. That part of the loan was applied in each year, especially during the latter years of the war, to keep up the sinking-fund, is true, but is immaterial. That was only because the taxes set apart for its support were absorbed, in great part, by the necessities of the contest; and when _the contest and loans ceased_, these taxes were amply sufficient to keep up the sinking-fund without any extraneous aid. This appears from the following Table, also taken from Mr Porter, exhibiting what was actually paid off of the public debt during the next fifteen years of Tory peace-government:— TABLE showing the Money applied to the reduction of Debt, Funded and Unfunded, from 1815 to 1832.