Aninquiry in to the Nature and Causes of the Wealth of Nations; With a Life of the Author, an Introductory Discourse, Notes, and Supplemental Dissertations by J.R. McCulloch Volume 3

Aninquiry in to the Nature and Causes of the Wealth of Nations; With a Life of the Author, an Introductory Discourse, Notes, and Supplemental Dissertations by J.R. McCulloch Volume 3

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1828 edition. Excerpt: ...restrainedfrom any further. increase of dividend by two successive acts of parliament, of which theobject was to enable them to make a speedier progress in the payment of their debts, which were at this time estimated at upwards of six or seven millions sterling. In 1769, they renewed their agreement with government for five years more, and stipulated, that during the course of that period, they should be allowed gradually to increase their dividend to twelve and a half per cent.; never increasing it, however, more than one per cent. in one year. This increase of dividend, therefore, when it had risen to its utmost height, could augment their annual payments, to their proprietors and government together, but by six hundred and eight thousand pounds beyond what they had been before their late territorial acquisitions. What the gross revenue of those territorial acquisitions was supposed to amount to, has already been mentioned; and by an account brought by the Cruttenden East Indiaman in 1768, the net revenue, clear of all deductions and mili tary charges, was stated at two millions forty-eight thousand seven hundred and forty-seven pounds. They were said, at the same time, to possess another revenue, arising partly from lands, but chiefly from the customs established at their different settlements, amounting to four hundred and thirtynine thousand pounds. The profits of their trade, too, according to the evidence of their chairman before the house of commons, amounted at this time-to at leastifour hundred thousand pounds a year; according to that of their accomptant, to at least five hundred thousand; accordingto the lowest account, at least equal to the highest dividend that was to be paid to their proprietors. So great a revenue might...show more

Product details

  • Paperback | 130 pages
  • 189 x 246 x 7mm | 245g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236795407
  • 9781236795403