Among other financial occurrences of this period, the public debt of Ireland be came in a great measure blended with that of Great Britain, from which it has hitherto been entirely distinct. Ireland has constantly had a public debt from about the year 1760, but its amount was for many years very small,. in comparison with the magnitude to which it has since increased, as will appear from the follow ing statement : The loans which became necessary, in consequence of the war, were in the first year raised wholly in Ireland on 5 per cent. stock. In 1794, an inducement was offered to persons resident in England to subscribe to the loans of Ireland, by making the dividends on part of the stock receivable at the Bank of England ;"and the same plan was followed in 1795 and 1796: but in 1797 the alarm of invasion, and the disturbed state of the country, rendered it impracticable for the govern ment of Ireland to raise the loan neces sary for the service of the year, with out submitting to the tru,•st exorbitant terms : in consequence of which it was deemed preferable, that it should be chiefly raised and funded in Great Bri tain, as part of the sum borrowed by the government of that country. The joint loans for Great Britain and Ireland were, thereibre, raised as one sum, the interest of the whole being charged on the con solidated fund of Great Britain ; and in this manner all the principal loans for the service of Ireland have been since raised, the government of that country remitting annually the interest, charges of manage ment, and appropriation of one per cent.
on the capital, in order to reimburse the payments made from the consolidated fund on this account.
The total amount of the funded debt of Ireland, on the 5th of January 1807, was 64,721,3561. 15s. the principal part of which, having been actually borrowed by the government of Great Britain, is in cluded in the following statement, as with respect to the public creditors, the whole of the sums thus borrowed are'the pro per debt of Great Britain.
The capital redeemed by the Commis sioners, for the reduction of the national debt, is given as it stood on the 1st of February, 1807, their accounts being made up to that period.
The statement is exclusive of the capi tal of Imperial 3 per cent. annuities, ha ing 7,502,6331. 6s. 8d. ; the dividends on which, amounting to 225,0791. per an num, and likewise the annuities for 25 years of 230,0004 per annum, have be come as regular a charge upon the con solidated fund as any part of the debt of • Great Britain.
For the terms on which the public debts have been contracted, see Loa s. For the particulars of the different funds of which they consist, and the mode of transacting business therein, see FoNns.