Commentaries on the Laws of England, Book the FirstBlackstone, William, Sir
History
Commentaries on the Laws of England, Book the First
Blackstone, William, Sir
Law -- England; Law -- England -- History
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 120000_l._ 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 generally computed
to raise almost a million) if they did not arise annually to
800,000_l._ 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
800000_l._ _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 Amalie, to the amount of
77000_l._) 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
800000_l._ _per annum_[f]. 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 100000_l._ _per annum_ by
this disinterested bounty of his majesty. The civil list, thus
liquidated, together with the four millions and three quarters,
interest of the national debt, and the two millions and a quarter
produced from the sinking fund, make up the seven millions and three
quarters _per annum_, neat money, which were before stated to be the
annual produce of our _perpetual_ taxes; besides the immense, though
uncertain, sums arising from the _annual_ taxes on land and malt, but
which, at an average, may be calculated at more than two millions and
a quarter; and, added to the preceding sum, make the clear produce of
the taxes, exclusive of the charge of collecting, which are raised
yearly on the people of this country, and returned into the king's
exchequer, amount to upwards of ten millions sterling.
[Footnote f: Stat. 1 Geo. III. c. 1.]
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