Proceedings of the grand juries, magistrates, and other noblemen and gentlemen, of the county of Glocester, on designing & executing a general reform in the construction and regulation of the prisons for the said county ... / by Sir G. O. Paul.
- Sir George Onesiphorus Paul, 2nd Baronet
- Date:
- 1808
Licence: Public Domain Mark
Credit: Proceedings of the grand juries, magistrates, and other noblemen and gentlemen, of the county of Glocester, on designing & executing a general reform in the construction and regulation of the prisons for the said county ... / by Sir G. O. Paul. Source: Wellcome Collection.
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![of land, which, under its prefent vicious policy, is withheld from national or parochial contribution, mull confequently efcape the burthen of the improvement, at the expence of the inhabitants and proprietors of other parts of the County, unlefs aided by fpecial grant. This plea was admitted, and 2,oool, was paid towards the general fund, without deduction of fees. Having thus dated the amount of the debt funded on the County Rate, it may be expected I fhould fpeak of the means of liquidation. I have already obferved that the a£t was drawn on the prefumption of borrowing 28,oool. at an in- tereft of 5I. per cent.; in this cafe the 2,000]. per annum would have produced a finking fund of 600I. which would have redeemed the principal in twenty-five years; but the fum of 34,873k 14s. id. has been bor- rowed, 18,0851. at an intereftof 4^ per cent. 16,78'dl. 14s. id. at 4I. per cent, the finking fund is therefore but 514I. 13s. the exact operation of which mull de- pend on chance. By the a£t, “ Before any money “ fhall be applied to difcharge any mortgage, the “ order in which all mortgages fhall be difcharged, “ fhall be determined by lot in manner direfled fhould the mortgages bearing the higher interefl be firft drawn, it will, of courfe, accelerate the operation pf the fund, and the contrary, if the reverfe; pre- fiiming they fhould be equally drawn, the period of liquidation](https://iiif.wellcomecollection.org/image/b28750160_0142.jp2/full/800%2C/0/default.jpg)
