§ MR. HUBBARDsaid, he wished to call the attention of the Secretary of the Treasury to the fact that the Annual Finance Accounts state neither the Total Capital Amount of the National Debt, nor the Total Annual Interest of the entire Debt, nor the Total Amount of Debt discharged under the heads of Exchequer Bills, Exchequer Bonds, and Terminable Annuities, and to ask him whether he would direct the preparation of such information and its publication with the future Annual Finance Accounts? The fact was that the Annual Finance Accounts as they were at present kept were neither ample nor clear. The House might fairly expect to find clearly stated in them the amount of the National Debt and the interest of that debt, and to be told at the end of every year how much of the debt had been discharged or by how much it had been increased. Every one, however, was obliged to make his own calculations on these points. In one paper the amount of the funded debt was given, and in a subsequent paper the unfunded debt, and these two added together made a total of £785,000,000. This amount, however, did not accurately represent the entire debt, which was £808,000,000. The reason why the residue was not stated was that the accounts did not make a computation of the amount of capital debt owing in respect of terminable annuities amounting to £22,500,000. On the other hand, the 524 interest of the National Debt was unduly overcharged, for the whole amount of the terminable annuities was included. The amount of the debt was therefore, in fact, understated in the Annual Finance Accounts by £22,500,000, and the amount of the annual charge in respect of the debt was overstated by £1,500,000. These were discrepancies that ought not to appear, and he was sure that the Secretary to the Treasury would take care that they were rectified. He was not asking for anything impracticable, for in the savings banks accounts the analysis was accurately made, and all that had to be done was to interpolate these figures into the papers in question.
§ MR. CHILDERSsaid, that as the mode of keeping the Finance Accounts was of very long standing, the Treasury had naturally hesitated to tamper with them. They dated as long ago as the year 1822, and the form in which they were kept was fixed by a Committee of the House. It would, however, be necessary to make considerable alterations in the form of these accounts if the Exchequer Audit Bill should pass during the present Session. Matters of account would then be placed on a different footing, and when the accounts next year came under revision it would be proper to make several alterations. The present accounts, ancient and valuable as they were, might, he admitted, be improved in respect to some of the particulars to which his hon. Friend had called the attention of the House.