_Note_.—The reason why every subscriber shall take a receipt or ticket for his quarterage is because this must be the standing law of the office—that if any subscribers fail to pay their quarterage, they shall never claim after it until double so much be paid, nor not at all that quarter, whatever befalls them.
The secretary should be allowed to have 2d. for every ticket of entry he gives out, and ld. for every receipt he gives for quarterage, to be accounted for as follows:
One-third to himself in lieu of salary, he being to pay three clerks out of it.
One-third to the clerks and other officers among them.
And one-third to defray the incident charge of the office.
_Thus calculated_. Per annum. £ _s._ _d._ 100,000 subscribers paying 1d. each 1,666 3 4 every quarter is One-third To the secretary per annum and three 555 7 9 clerks One-third £ per annum. To a registrar 100 To a clerk 50 To four searchers 100 To a physician 100 To a surgeon 100 To four visitors 100 550 0 0 One-third to incident charges, such as To ten committee-men, 260 5s. each sitting, twice per week is To a clerk of 50 committees To a messenger 40 A house for the office 40 A house for the 100 hospital Contingencies 70 15_s._ 7_d._ 560 15 7 £1,666 3 4
All the charge being thus paid out of such a trifle as ld. per quarter, the next consideration is to examine what the incomes of this subscription may be, and in time what may be the demands upon it.
£ s. d. If 100,000 persons subscribe, they pay 2,500 0 0 down at their entering each 6d., which is And the first year’s payment is in stock 20,000 0 0 at 1s. per quarter It must be allowed that under three 175 0 0 months the subscriptions will not be well complete; so the payment of quarterage shall not begin but from the day after the books are full, or shut up; and from thence one year is to pass before any claim can be made; and the money coming in at separate times, I suppose no improvement upon it for the first year, except of the £2,500, which, lent to the king on some good fund at £7 per cent. interest, advances the first year The quarterage of the second year, 19,800 0 0 abating for 1,000 claims And the interest of the first year’s 1,774 10 0 money at the end of the second year, lent to the king, as aforesaid, at 7 per cent. interest, is The quarterage of the third year, 19,400 0 0 abating for claims The interest of former cash to the end 3,284 8 0 of the third year Income of three years £66,933 18 0