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A
few figures selected from their accounts and reports, will serve to show
the sudden and extraordinary expansion of their operations.
The baronies to which loans had been issued up to the 31st of December,
1846, under the Labour-rate Act, numbered _three hundred and
twenty-two_, and the total sum issued up to the same time was L999,661
4s. 2d.--a million of money, in round numbers. Besides this, many of
those baronies (but not all) had obtained loans under previous Acts;
whilst baronies, which had as yet made no application for loans under
the Labour-rate Act, were also indebted to Government for money borrowed
under previous Acts. The number of baronies which had taken out loans
under the Acts of 1 Vic., cap. 21, and 9 and 10 Vic., cap. 124, was four
hundred and twenty-four. The account between the baronies and the
Government stood thus on the 31st of December, 1846:
Loans to baronies under Acts passed previous
to the Labour-rate Act ... L186,060 1 5
Grants ... 229,464 8 0
Loans to baronies under the Labour-rate Act 999,661 4 2
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Making in all .


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