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Maps, plates, charts, etc., mey be filmed at different reduction ratios. Those too large to be entirely included In one exposure are filmed beginning in the upper left hand corner, left to right and top to bottom, as many frames aa required. The following diagrams Illustrate tha method: Les cartes, planches, tableaux, etc.. peuvent Atro flimAs A des taux de rAduction difffArents. Lorsque le document est trop grand pour Atre reproduit en un seui clichA, 11 est fiimA A partir da I'angle supArieur gauche, de gauche A droite, et de haut eh bas, en prenant le nombre d'images nAcessaire. Les diagrammes sulvants iilustrant la mAthoda. 1 2 3 1 2 3 4 5 6 ^ '?>■ CONSIDERATIONS ■pn \ ^ <^' ON THE TRADE and FINANCES OF THIS K I N G D O M, AND ON THE Measures of Administration, WITH Relpedt to thofe great National Objeds fince the CONCLUSION of the PEACE, LONDON: Printed for J. WILKIE, in St. Paul's-Church-Tardi MDCCLXVI, [Price Three ShUlings.] .y I' ■ >,, ;;«■■' '. ■ ■ ■ M ^a'l^ ■ \ <>.'.■■ y' '**■., v;.: :,i:;.r-i:^v;«:.,?>;--L^*-^v •'*:-t~ ' ,'' 'i t "" *. '■'' "^^ t ''-T' T ■'•■,>■ ■'■t ij. **■--.• ' ■ ' 1 Vi ■ ■ . " *^ J IW.»u^ i-^.* Sf*4^»**-^.-'--~P-? r .' *1>--**..:"; ■'•I' '.'■'' CONSIDERATIONS li/ , ■- if i'!' i; ON THE Trtf^^ and Commerce of this Kingdom. :rt;,i i;ii; .id '::jtj;.;^ t4:> --<■? I •, >•-> :'..] ^^'ifM' aM THAT the Wealth and the Power of Great Britain de- pends upon its Trade, is a Propofition, which it would be equally abfurd in thefe times to difpute or to prove: it was not indeed apprehended that they were fo great as they have been found to be, we did not ourfelves knov/ our own Strength, till the Vigour of the laft War applied the Refources of that Wealth, and exerted the Efforts of that Power j in the progrefs of it many Acquifitions highly beneficial to Commerce were made j and the moft important of" them were fecured by the Peace ; but on the other hand, the Abilities of this Country were ftretchcd to their utmoft extent, and beyond their natural Tone : Trade muft fuffer in proportion j for the Price both of Labour and Materials was enhanced by the Number and the Weight of the new Taxes, and by the fudden and extraordinary demand which the Ruin of the French Navigation brought upon Great Britain : in confequcnce of which, rival Nations who were not before, may now be able in many articles to un- derfell us at Foreign Markets, and even become Competitors at our own. Both public and private Credit were at the fame time opprefled by the vaft and rapid encreafe of the National Debt : the Value of the Stocks being funk by the quantity of thtjm. Scarcity of Money and high Rates of Intereft enfued ; and the large unfunded Debt which remained behind, aggravated the ■ ., •■ "'■ ^ h ■ "■ / Evil, y ••*' 1 .,«t»™-«^,^«i u^ [ 4] Evil, and affe(5lcd every Money-tranfadtion. Thefe are Circum- ftanccs ol' very ferious concern, and important to the decifion of any enquiry into our national Situation : to ftate them therefore diftindlly j to fet againft them the Advantages we have gain'd j and to examine into the Meafures which have been purfued fince the Peace, as well thofe which will contribute to reftore order to the Finances, to preferve or to recover Trade, and to improve our new Acquilitions ; as thofe which have a contrary Tendency ; in order from the whole view to form fome judgment of the real State of this Kingdom, with refpeft to its Finances and its Com- merce, will be attempted in the following Confiderations ; but Meaf\^res having varied, and the national Situation and Profpedl3 being thereby mfferent at different times, it will be neceffary to diftinguifh them into two Periods, the one ending in the laft Year, the other comprehending all fubfequent Operations, : and I fhall therefore endeavour to keep the Confideration of each, entirely feparate, as the only means of determining upon ei- ther. The Debt contradled by the War which had been funded before the Negociations for Peace began, con fifted of 50,730,000/. redeemable Annuities ; of 472,500/ being the value at fourteen years purchafe of the Annuities upon Lives which were granted in 1 757, and of 6,826,875/, being the Value of the Long Annuities granted in 1761 and 1762, at 27^- Years purchafe, which was the price they bore about the. time offigning the Preliminaries, and is nearly a medium Price. The encreafed funded Debt was therefore at that time 58,029,375/. but the Expences of the War did not ceafe with its Operations : they continued for fome time to be very confiderable j diftant Fleets and Armies could not be fudden- ly recalled ; large Eftablifhments could not be immediately re- duced J and on thefe and other accounts it was neceffary be- tween the figning of the Preliminaries and the Conclufion of the Peace, to make a Lo^n of 3,500,000/. The Fund provided for the payment of the Am)uities thereon were the additional Duties of 8/. per Ton on French Wine and Vinegar, of 4/. per Ton on other Wines and Vinegars, and of 2/. per Ton on Cyder and Perry imported; and a new duty of 4J.perHogfhead on all Cyder and Perry rxixd^' ijjWB«i«fcd [ 5 ] Sum to be ralfed on this Fund was wanted for immediate Services, and prefling Demands, and a vafl Debt ftill remained unfunded ; that part of it only which confifted of Navy Bills and Ordnance Debentures amounted to 3,670,739/. 2s. bV. and for thefe a tem- porary Provifion was immediately made, in the fame manner as nad been done at the end of the former War, with refpeft to the then out-ftanding Bills and Debentures, by charging upon the Sinking Fund fo many of them as fhould be fubfcribed, to be converted into Stock at four per cent, redeemable. The In- tereft was the fame as before, but when it was upon Bills, the time of Payment was uncei iain j upon the Stock it is regu- lar : they were indeed always afilgnable, but not divifible j if therefore the Money which the Bill-holder wanted was lefs than his Bill was worth, he was obliged to fell more than he wiflied, the entire Bill only, and not a part of *t being faleablc : and as many of them were for large, and moft of them for frac- tional Sums, it was often difficult to difpofe of them : Stock on the contrary, in any proportion and at any time will find a Pur- chafer. On thefe Confiderations the Majority of the Proprie- tors to the amount of 3,483,553/. ij. lod'. were induced to fub- fcribe,and theMarket was thereby cleared of agreat quantity of Pa- {)e,-circulation upon Government-fecurity, wnich had excluded a ike Circulation upon private Security, and engroffed all the ready Cafli : this operation therefore made an opening for the admif- lion of Notes and perfonal Security, facilitated Difcount, and oc- cafioned an eafier Circulation of Money. But notwithftanding this Relief a large Debt was ftill unpro- vided for J it accumulated the next year ; and Trade and Credit and the Stocks all laboured under the Oppreflion. It was fo fenfibly felt, that many perfons impatient of the burthen, thought a further Loan ncceflary for paying off a confiderable part of it ; but they did not fufficiently refled: on the perma- nent Mifchief which the creating of a Fund equal to fuch a Loan would have occafioned : the confiderable Surplufies which were in the difpofal of Parliament, the Surplufles of the Duties on Coals and Culm, of thofe on Soap, Paper, Starch, Linens, Silks, Callicoes, and Stuffs; of the Stamp-duties, and of the Duties uponr B 2 Licences .i.y '■%:-.Wfr- i k ;*'♦''. [ 6.] Liv'cnccs for ret.ulirigSpIntuousLiqu.orswrre a]l appropriated: The high duties which the Lcj^i.' aturc had laid upon fpirituous Liquors to prevent the too frequent ufe of them, were alfo appHed : the Funds which Luxury could fupply, were cxhauflcd by the Taxes impofed upon Plate, Cards, Dice, Brandy, and Wine : Com- merce had furnirtied its quota hy a further fubfidy on Eaft-Indian conrimodities, on the produce of our own Plantations, on Grocery, Linens, and other niifcellaneous articles : Property had again and again been called upon to raife frefli Contributions by additional Stamp Duties, additional Duties on Houfes, additional Duties on Windows : and the demands of the War ftill crouding on, re- courfe had at lad been had to thofc Supplies which an univer- verfal Home confumption could raife : The common Beverage of the people was chofen, and Duties were laid on Malt, on Beer, and on Cyder : Thefe prefled immediately on the middling and lower Ranks, on Husbandmen and Manufadlurers, who were not indifferent to many of the other duties j the Wages of Labour were raifed j the value of foreign Commodities and even of our native produce was enhanced j and thefe are circumflances al- ways prejudicial, frequently dangerous, and fometimes fatal to Trade and Manufadlurers. Was this a time to impofe a new tax which muft have been heavy to have been eftedual j and which, lo far as our commercial Interefts might have been af- fected by it, would not in the end have been a benefit, though it {hould be a prefent Relief, to public Credit ? But even if a Fund free from any objedtion had been ready, an accidental diftrefs frorh another quarter would have prevented the application of it : the Failures at Berlirit at Hamburgh^ and in Holland^ which happened about the month of September ^ 1763, had fpread Terror to every commercial City on the Continent : the effedts of fuch Bankruptcies could not but be great and ex- tenlive ; they were unknown, and therefore appeared greater : no man was fure that he himfelf was fafe ; every one concluded that others were ruined j they were afraid they fhould be drawn uponi they were afraid to draw; and difmay and diftruft appearing in every countenance, encreafed their mutual apprehenfions: Wealth could not procure Credit, nor connexion Confidence ; but uni- verfal fpuMa «, ^< ,. V /x m^ ' •jkt' •[ 7 I vcrfal doubt prevailed : and all, e:.'^:::!^ing, what they feared, and di(believing what they heard, impatiently waited in Cunfterna- tion and Defpair for a Certainty which they dreaded to receive. The Briiijli Merchants alone bthaved with a Spirit cqiial to the Crifis : thougjii they were particularly unprepared for fuch an Event at that conlunfture, when all Europe was deeply,, and they were m6ie deeply than any, enga|^ in the Stocks, which in confequtnce of this Calamity were falling ; though molt of their Tranfadions therein were Time-bargains^. by which their Credit was already ftretchcd, and they had made thcmfelves anfwerable for a new Species of Demands, great in amount,, near in profpetSt,. and which could not be poftponed, even for a Day J yet amidft thcfe accumulated Ditliculties, regardkfs of the. partial Security of their own particular Houfes, they applied thcmfelves wholly to provide for the general Safety : though the Situations of their Correfpondents were acknowledged to be precarious, they trufted them more than ever : they t^rnjcd all they could into Money, they fold at a lofs, they bor- rbwed, in order to lehdj and then niade vaft and immediate Rferhittamces to the Places where theDiftrefs and the Danger were .the greateft; The Encouragement and Concurrence of a firm Ad- ^hiinifti-ation fupported their Refolution, and feconded their. Ef- ,f6rcs : the Bank on this preffing Occafion, inftead of paying irt Silver^ doubting on Securities, or recurring to ar^y of the little Expedients of .Caution and Delay^ boldly, and without Hefita- tion,. and witnout i-eferve, gave the moil liberal and effedual Afliftance, by difcounting Bills with the readieft Difpatch, and to an incredible amount : and the Merchants being from thence fupplied with laraer Sunis than they themfelves thought itpoflible for' them to command, and fending away all they could procure, "by fuch a feafonab>le and "vigorous exertion of their powers, prc- ven^ted the Bankruptcy of Europe. But all their generous En-' deavours might have failed, if the Money wanted for this great "ptirpole had 'h^een diverted to any other j or, if any Check had "been given to an Operation, to which the leaft delay muft have been fatal i' and which the fhorteft Intermiflion might have ren- dered abortive. A Loan made under fuch Circumftances would ^•1 *i \ I ! V\ .} B3 ,f .^• „ have .'.'. » A^ t 8 ] 'h.ivc bcen-Qtt.nded with the Ruin of many Individuals ; the Price of the Stocks already fallen by the Quantities which had been fold in order to raife Money, mull have funk flill lower; and the further deprclTion of both public and private Credit would have been the inevitable confequence of fuch a defperate mcafure. On the other hand it feemed at fitft fight impoflible, effedlu- ally to relieve the public of the Burthen of fo large an unfund- ed Debt by arty other means : It was however attempted, and the Attempt has fucceeded beyond Expcdtation. A ftridl Scrutiny was during theYcafs 1764 and 1765 made into the feveral Bran- ches of the Revenue, into the Colledlion, and into the Expen- diture : thofe Revenues were encfeafed by a flcady Execution of the Laws relating to them, and irtiproved by additional Regu- lations : ne.v Refources of Finance were opened ; and the whole "was conduced with a Frugality, which was important becaufe it "was univerfal, and generous as its Objeft was Juftice. From the ^Concurrence of allthcfe Meafures, Supplies were found in the Teurs 1764 and 1765, fufficient to reduce the unfunded Debt within fuck accmpafs, as to be no longer oppreflive upon pub- lic Credit jlh"lt patt 6£ it v^hich confifted in Navy-bills only ex- cepted : they had accumulated fo fad, that tho' 650,000/. had been granted in 'the Supplies for 1764, towards difcharging the Debt of the "Navy, yet the Bills in courfe of Payment on 31ft 'DecemSer, 'i'/6/^, with the Intereft due thereon, amounted to 1,971,589/. 5J. 8i/. to eafe the Market of this Incumbrance, it was propofcd'to provide for the major Part of them by creating a 'Fund for 1,500,000/. TheDiftrefs of the laft Year was now en- tirely at an'End ; the Alarm it had occafioned was fubfided ; Mo- ney was in plenty » the Stocks were rifing j Trade flouriHied j ■and the Courfe of Exchange was in our favour: there could there- •fore be no difficulty in making a Loan j the terms offered and ac- cepted were two-fifths in redeemable Annuities; two-fifths inLot- tery-Tickets; and the remaining one-fifth either in a redeemable Annuity, orLife-annuity with Benefit of Survivorfliip, at the op- 'tion of the Subfcribersj the whole at three per cent. Of this pro- pofition the two-fifths in tliree per cent. Annuities were the only Parr, whofe Value could be exactly afcertained; the Survivorfhips coiHd not properly be v/orfe then thcfe, for thefe might be taken inilead ■OWWD«y ,• :X . - - -^IM^'t-r^ ■^^'siL. [ 9 ] inftead of themi tliere was a chance that they might be better j they had fcldom been tried in tng/and, and never in parallel Cir- cumftances ; in France they had often fucceeded i and if they fnould fucceed here, they might be applied to greater purpofes : if they failed, the fum engaged being fo fmall, and an option being given between them and the three per cent Annuities, no bad con- lequence could enfue. On thefe confideratics the Experiment was made, ii has not fuccocded, and no bad confequence has en- fued. As to the Lottery- tickets, it was known by experience that they would bear fome premium; and whatever advantage might be made, was offered in the firll inflance to the Holders of Navy- bills, who having fuffered by the delay, were entitled to favour, in the manner of payment } and who had therefore an option given them either to be paid at par, or to fubfcribe: For this pur- pofe the Subfcription war> .pened for Navy-biJls only to a cer- tain day J by that time fo many as amounted to 1,347,500/. were fubfcribed; the Bill-holders therefore to that great amount thought the Subfcription more eligible than payment at par: The remaining Sum of 152,500/. was afterwards made up by the contributions of other perfons : but the whole fum being ap- plied to the difcharge of Navy-bills, the load of fuch a quantity of that kind of Circulation was taken off; and a faving oi i^yOOol, per annum WAS made to the Public, by fubftituting a Stock at three percent, inftead of Navy-bills at four; which was done at a time when the three per cents, were below 87,. and I believe there is no inftancc of Money borrowed at that rate,, while the Stocks bearing the fame Intereft were {o greatly under par. Yet how ferviceable foever this operation might be to public Credit, it would not in the end have proved a national benefit, if an at'-^itional burthen upon Trade had been the means employed to effedl it; but the Duties which compofe the Fund then created,, are in no degree hurtful, and may in- £ow^ refpedts be beneficial to Trade: they are Duties upon Coals, Eajt-India Silks, and Cal- licoes exported, and upon Policies of Infurance : That upon Coals, exported ic of four Shillings upon theiVSjif^f^/t' Chaldron, which is tvv^o Shillings the Lfl;7<^ Chaldron; aad bsin^ paid by Foreigners •> { ^ only r ^ vi ,j J ..•1 [ 10 ] only is in that refped a matter of InditFerence to this Country ; but in another it is of importance : for Coals are necelTary to the Dyers, the Glafs-houfes, the Iron-works, the Diftilleries, and otherManufaclories abroad, and a Tax upon them is an advan- tage given to the rival Britijh Manufa(5tures, who now want every Affiftance: nor is there any danger of lofmg the Trade by fo moderate a Burthen upjon it j on the contrary it will encreafe, as the Peet begins to fail in Holland ; and though Coals are found in the Country oi Liege, and in feveral parts of Flanders, yet being fubjedl to a variety of Tolls in the different States through which they muft be brought, they cannot, when they tirrive in Holland, be fold fo cheap as the Sunderland Coals. As to the Eaji Indian Commodities which are charged to this Fund, fome Impofition upon them was neceflary for the prefervation of our American Commerce in that article : a Duty had been laid in the preceding year upon the fame Commodities exported to the Colonies : the only material objedtion to it was that the Dutch, who buy thofe goods here, would be able to underfell us in Ame- rica ; but this was remedied by extending the charge to all that are exported ; a Duty of five per cent, ad valorem on the prohibited Silks and Callicoes, and of two per cent, on the white Calliroes which have not been printed or dyed in England, feemed fuffi- cient to anfwer the purpofe, as the foreign Merchants who pur- chafe here muft necefl'arily incur fome Expences of Freight and Commiffion, from which the Britijh Traders are free. The re- mainder of the Fund is made up by thenew Duties upon Policies of Infurance : Thofe Inftruments had been fo varioufly charged, and the Ads relating to them were interpreted fo abfurdly, that fome Regulation was proper on the principle of equality : no more than «ne Shilling was paid on Policies executed in t^e Country, while thofe executed within the Bills of Moitality were charged with three Shillings and ten Pence, if made out at a private office ; and with one Shilling more if made out by the Infurance Com- panies ; there is no r^afon for any diftindtion, and they are there- ibre now all brought up to five Shillings j the difference I be- lieve will not be very fenfibly felt any where : if it ffiould, the occafion for. putting them all upon a level will be the more ap- ■ ' parent ■^^'^. parent. The whole Fund thus compleated will, when brought into a regular Channel, undoubtedly produce 45,000/. which is the Interell of the 1,500,000/. railed upon the Credit of it. If to this Sum of 1,500,000/. be added 58,029,375/ the Debt contrafted before the Negotiations began, and that which was funded between the figning of the Preliminaries and the Con- clufion of the Treaty, viz. 3,500,000/. on the Wine and Cyder- tax, and 3,4^3,553/. I/. I o - ,A. [ H ] flfiort a time for fo large a Part of the Unfunded Debt i it is therefore now proper to fee in what manner and to what amount that was effedled : The whole Debt cannot be flated at any par- ticular Period ; for fome Parts of it were difcharged, before others were accounted for ; I will therefore take the Articles feparately,, and having fliewn what was ''")ne upon each, I will afterwards endeavour to form a general View of the Whole, which may then be intelligible. The moft formidable in Ap- pearance were the German Demands ; they amounted to near nine Millions Sterling, and though infinitely various in the Grounds upon which they were founded, and the Manner in which they were made up, yet for the prefent Purpofe they may be confidered under three Heads, ranging them according to the different Modes of proceeding which have been followed in difcharging them. The Firft is the Claim of the Duke of Brunfwick to a Sub- fidy of 43,901/. 3^. yd. -^ for two Years after the Defermina- ticn of the War. The Right was unqueftionable, being found- ed upon Treaties, in which the Sum was fpecified, and there- fore the Debt has been regularly paid as it has accrued : 33,557/. 6^. 9 founded ^'^'^^ f '5 I foimdcd upon Treaty ; but what fliould be deemed reafonable was a Subjed: of great Difcuflion. No precife Sum was ftipu- lated, and 2 20»ooo/. had in performance of this Agreement been given in 1761, of which 120,000/. were paid immediately^ and 50,000/. in 1762^ and 50,000/. in 1763. On the Con- clufion of the Peace the Landgrave delivered an Account of fur- ther Damages fuflained to the Amount of 10,382,668 German Crowns, which are above 1,730,000/. Sterling, This was ob- jefted to as an unreafonable Demand, and the AfFair being put into Negotiation, it was at laft agreed to pay the LandgriivR 150,000/. which Sum payable in three Years was accepted by a Protocol, figned 21ft Alarc/i, 1764, in total Extinction of all> Demands and Pretenfions whatfoever, which his Serene High- aefs might from under the Title of reafonable Succour, or otherwife, fuch Sums only excepted as ftiould appear to be juitly. due upon Contracts made by Perfons duly authorized for that Purpofe : in confequence of this Agreement 50,000/. were paid, in 1764, 50,000/, irv 1765, and the remaining 50,000/. are pro- vided for in the Supplies of the prefent Year. The third Head comprehends all thofe German Demands, which no Treaty had fixed, and which no Negotiation could fettle ; but which being meer Matters of Account, could be adjufted only by Liquidation. A fpecial Commiffion was there- fore appointed for that Purpofe, and nothing lefs would have been equal to a Bufinefs fo various,, perplexed,, and extenlive.. An Office at home, immediately under the Infpe(3:ion of the Treafury, and reporting to them all their Proceedings, to be by them fubmitted to the Judgment of Parliament j an Office adl- ijig under Inftruftions adapted to that end only, colle<5ting within its own View all the Information which the feveral Departments of the CommilTariate could give, and furniflied with every other Means of Enquiry ; feeing the whole of the Demand together, checking one Part of it by another, and equally informed, of the Rights of the Crown and of the Claimants ;. fuch an Office- only was able to detedl the Frauds and Abufes which had been* pradtifed, to rtate long and intricate Accounts, and to determine the juft Ballance between the Pubiick. and its Creditors. Upon, . . thefe. . H If t: i\ ii\ [ i6 ] thefe Motives all further Proceedings in Germany vrere ftoppetJ, the Commiflariate there was recalled, and three Commiffioners appointed here to examine the German Demands. To prevent Delay a certain Day was fixed, beyond which no Claims were to be received ; fuch a Declaration invited none, though it ad- mitted all ; and it brought the whole together by the Time ap-- pointed: but a great Part was excluded from immediate Exa- mination, becaute moft of the States on the Continent had pre- tended to do thcmfelves Juftice, by feizing the BritiJJi Maga- zines in their Territories : It did not become the Dignity of the Crown of Great-Britain to fubmit to an Arrell of its Property, or to fufFer others to ufurp the Difpenfation of its Juftice : No- tice was therefore given that no Claims made by the SubjeS* and 1 06,043/. ' 3''"- ^^' r ^^^ ^^^^ granted this Year in full Sa- lisfadlion of the Remainder. «o " . ii * rhe Acconnt thefefcjue of all the German Demands appears ifrdm what has been faid to ftands'thufrr -o ; - Deittin»441^ 00 | MifccMaheous Jjimands. - 7,132,652 5 /, Aiyable. J. 5i« uii. 5 150,000 o o i',i'66,043 13 8* «*-T- .. I 14 lU Total 8,917,341 5 ioIt 1,310,288 Btit tncTQgh tfic Whole amounts to very near 9,pob»ooo/. yet as all' winch oh the faircft Exarilinatioh w^s fdttnd to be juftlf due Has been difchafgied for i,'3'ic,i28S^. 14/. k/.^^ ho mor© thah that Sutn can be%tfe:ljr tailed i t)4W!, and in this Light It is- hot fo cbnfideraMi a* others ^^ich will not admit of a like Redudtion. - ThcJ Uhfiir^ded Debt of thS Navy was fai» fereatcf,' though that tQQ vfis Jeifs 'thah it ai>|)eired to be, indthbugh I flidl e*- xlude from tWsf'Acc^iyhtthfe Debt prdvidcd fijriri this Supplies for 1763, a« that PfoVifion •^vas iliade bfefore the final Conclu- fion of the Pttce, and die Sums funded in that Yfcar have beeh already carried to. the Funded Debt cbhtradted by the War : fiut befides the great Quaritity pf Nlvy Bill* tlien cbnverted into Annuities, and notWithftapdrng {hie Prcfvifidn^made tojpfe*- vent if poffible- an Ehcreafe, by votlhg^ joj boo Seamen for the whole I ear, when the Peace Eilablifhment \t^i^p6t\ytM\ Mnthin f!)e J^iod how iatmcdiatelfrlii- ibre n^ jet.lihm^t jtlfronVi^l^^^Dfiors fttisfa^orj jjj^cgft theiw hereJ;aj jj^e S^ut^ent^bf all the Girmatt Demands' was 'entirely the Vftai^ire of the Admmi- ftration in 1764 ; and the Account being compleatly clofed, it (hould be ftated all togcth«r. C 4 no [ 1.8 3^ no mwe than- 16,000, yet fucb^'as at firft the Extent of tho Services, it rcc^uired fo much Time to bring home the Ships, otheE Demandv contirtued to be fo great, and fuch^ large Arrears came in, that the Navy Debt not included in. theSubfcription of 1176 3, .adc, i. to what was afterwards brough't to account in 1764 and 1765, (the whole of which was in the ftri(£tell Senfe unprovided for during the War,) amounted to no lefs than 4,576,(. 1 5/. ys. gd. of tliis 650,000/. were paid ofF.in- 1764,, and 1,500,000/. were difpofed of in 1765 by the Subfcription ; thelc two Sums therefbre being deduced it was reduced to 2,426,915/. ys. gd. but thea the whole of the Navy Debt is not payable when the Account is made up, and fome w;ill never be demanded : The Navy Bills are not due tilF fix Months after they have beea ifTued ; fix Months alfo of the S^wnen'sWagc^s by Adt of Parliament always muft be, and in coniequenceof the Rules preferibed by- that A£V, twelve Month$ Wages generally, and often much more are retained : And there has beea befides at all Timeji a large Arrear of Pay^ which- though kep;t.in the Account could' never Jbe claimed,,, the Perfons to whom.it was due having left neither Affignees nor Repreientatives.. The pre.- cife Amount of fuch Sums cannot be afcertained^ hut .they can < hardly be reckoned lefs than thirteen or fourteen hundred thou^ fand Pounds. On- 3ift.D^tf<'«^^r, 1 7,54,. when the Navy^ Debt was reduced- nearly as low as it could be,, it ftiU amounted to ' 1,296,567/. i8j.. I id,^ confilting chiefly of Articles which could not then be difcharged ; iuch. Articles will belareer now in prorp portion to the Encreafe of the Eilablifhment, and an. Allowance muft always be made for them . in iudgine of the State of the Navy Debt,, though they are notdiftinguimable in the Account. In providing for that whick is payble,^ the. principal ObJ<^(^ of the Legiflature is always to difcharge the Bills^.for they are the great^ Article, they bear an Intereft' of four p/r cent, and when the Quantity of them is large, they are a heavy Incumbrance up- on all Money Tranfadions. Both the. Subfcriptions which. I- have mentioned were opened avowedly for that Purpofe.only.; and the Money granttedin 1764, towacds the Difcharge of the Navy I. Jk fj^.' ' ' i f i.i. .iUltVJiV -^ii, IIGS I in ,^UHo , '«• 'tr- ' ^sr. ley are id when ice up- only.; of the Navy [ ^9 ] Navy Debt, wfis applied to no other ; the faving of Intcrcfl: there- cy made was 26,000/. and the favuig in the fubfequent Year of one per cent, on 1,500,000/. has been mentioned already. A. fmall Deduction muft however be made from thefe Sums, for the non-intereil Bills, and for the Intereft upon the others which has been converted into Principal. All fuch Allowances and De- ductions amouni: however to a very Trifle, and as I cannot afcer- tain them exaftly, arid they are fo in jonfiderable, it will be fufii- cieit to have taken this: Notice of them. The Proceeding with refpedt to the Army at the Conclufion of vhe War was fimilar to that which had been followed with Refpedt to the Navy : The Extiaordinaries brought to account were provided for, and more Forces were voted than the Peace Eftablilhment was intended to be, in order to allow for the gradual Redudion of thofe then on Foot : It could not however be made fo faft as was propofed j many Regiments were at very diftant Parts of the Globe, maintaining or purfui.ng the Conquells they had made: The next Year was found not fufficient to reduce them ; great Expences were ftill hece/Tary ; and large Arrears came in j by all which the Extraordinaries of the Army in- curred and not provided for in 1763, were fwclled up to the Sum of 987,434/ ifj. 6d. 4 which were paid out of the Supplies for 1764 : Thofe incurred in that Year and provided for in the Sup- plies for 1763, amounted to 404,49^/. js. td, which added to .the former amount to 1,391,931/ y\ od. f. The Extraordinaries of the Ordnance difcharged within the fame Period as not having been provided for in the Supplies for the Year in which they were incurred, amount to 107,878/. \%s. Sd. viz. 52,359/. 8j. id., ift IZ^/^* ^^^ 55*5^9^' ^o-*"* 7^' *" It may be faid that the whole of thefe Extraordinaries, whe- ther of the Navy, of the Army, or of the Ordnance, are not to be imputed to the War ; but the whole was Debt : The Ex- ceedings of the Navy bear the Name of Debt j thofe of the Army and Ordnance are of the fame Nature ; and whoever •.will look into the Accounts will find that moft of the Articles - _ ' D can J>: ;,• f il [ " ] can relate ohly or relate principally to the War *. Tliere will indeed always be Extraordinaries ; but it would be a melancholy Profpedt if We had any Rcaf6n to apprehend, that upon a fettled Pvrace-Eftablifhnftent, they would be nearly equal to tnefe : Whea I come to ftate that EftablKhment, 1 will endeavour to form fome Calculations concerning them. The Deficifences of Grants. and of Funds are alfo generally but liot ncceffarily Articles in the' Supplies for Times of Peace ; for Eftimates mutt always be vigue, atid the Produce of Taxes uncer* tain ; but there may be an Overplus as well as a Deficiency, and the one is applied, the other is provided for, each as it arifes j when the Deficiency happens it isaDebt, paid in this, but incurred in a for- mer Year ; That of the Land and Malt is indeed conftant : Thoft- Taxes are always given for jnore than they ever produce ; and the Confequence is that aDebtis thereby contradled»which is regularly difcharged in the fubfequent Year ; it varies, but it is common* ly eftimated afe 300,000/. and as in Conformity to the eftablifhed Method of making up the public Accounts, I (hall in ftating the Ways and Means reckon thefe Taxes at the whole Sum ^r which« they are given, I muft in order to ballance the Acco^Jht reckon this Deficiency in the Supply at 300,00.0/. per annu)n j but as. fa much may upon an Average be expefted every Year, till a Re- du<^ion of the Land-Tax {hall take place, and as it cannot be. attributed to the War, I will diftinguifti it from the Debts paid, off within the laft two Years, when I enumerate them together: The other Deficiences of Grants muft however be included in^ that Account ; they are accidental, and are incurred in the fame- Manner as other Parts of the unfunded Debt^ by Services beings performed before they are provided for j for fo far as a Service exceeds, or a Grant falls fliort of an Eflimate, no Provifion can; be faid to have been made ; and fuch Deficiences are not lefs a Debt becaufe they are of no longer ftanding than a Year. Tha principal Articles, however, of the Deficiencies now under Con- fideration, do not fall even within that Defcription-: They might yj^' ^:l>:■'■T'■''..<"■ * Itmufthowev^rbeyiwaysremiErtiberedthataNavyDebt of i,296.567/i8/n liibfifted before the War, which as not belonging to th« War, muft be dtdu£led fforu the Debt iwinaining at the End of it. witk [ 21 ] with more Propriety be carried back to the War : The Intercft upon Exchequer Bills is one, which Exchequer Bills are a Part ot the unfunded Debt contradled by the War : The Difference between the eftimatcd and real Deficiency of the Land and Malt is another ; a Difference which is chiefly owing to tJic Land-Tax being doubled, to the EfJcdl which additional Duties and the Abfence of large Fleets and Armies may have had on the Confumption of Malt, and to the Intereft paid to the Bank, on large Sums and at an high Rate for the Loans on both. As therefore Deficiencies of Grants alwavs come properly under the Denomination of Debt, and as far the greater Part of thcfe pe- culiarly belong to it, I (hall reckon all that have been provided for fince the Peace on this Head as Debt difcharged ; foi: which Purpofe 129,489/. os. 3^/. was granted in 1764, and 249,660/. 4 J. lo^.in 1765, amounting together to 379,149/. 5J. jj. The Deficiencies of Funds within the fame Period were 384,854/. 31. bd.r viz. 147,593/. i8j. od. f provided for in 1764, and 237,260/. 5j. 6d. in 1765. Thcfe Deficiencies are of Funds created for the Purpofes of the War ; they are therefore di- reftly a Debt of the War : To difpute their being fo, becaufe they arife every Year, is only proving that the War has left fuch an annual Charge upon the Publick : It is flridly fpeak • ing the Intereft of a Sum unfunded fo far as the Fund upon which it was charged is deficient ; and it is a Charge which though it may vary, will to a Degree long continue. The Exchequer Bills are the only large ur>funded Debt which has not been taken Notice of, amounting to 1,800,000/. No Part of them has bpen paid ofif ; they have only been continued; but the Intereft upon them lias been reduced from four to three percent. The Bank on the Renewal of their Charter in 1764, engaged to circulate for two Years 1,000,000/. at three per cent, per annum. The regaining 800,000/. have been already r mentioned to be ifTuedat the fame Rate in 1765; and ^-"v have > generally been above par. - There were befides three little Debts paid off withinithe two. Years I am confidering, which do not belong to any of th« foregoing Articles. 7^opoA was granted in the Supplies for 1764 • .; .. ' D 2 t<} \n X [ 22 ] to. rcimburl^ Mr. Totichit his Expc ices in the Outfit and Lofs of Vefl'els furni(hcd by him for the Expedition •.ig.iinfl: Senegal, Another 7000/. was granted in the Supphcs tor 1765 upon ac- count of fundry Expcnces incurred in Nov.i Scotu, lome of thcnj previous to the War, and others during its Continuance. The Sum of 10,000/. was alfo granted to the (Jovernmentof the liland of Barbadoes, in compcnfation for the AlHftance given*" by them in the lixpedition againft il/^/r/Zwio. •'-■ •' ' Tile feveral Articles of the unfunded n.!?t- having been now llated, the Account of that Debt outftan lin;';, paid off, or pro- vided for m the V«ars 1764 and 1765 appears to be as fol- lows : . -Jid *■>•.:(! ttn? 'I? J, ■ 4 »••'. ; J /■•>».. HI > UnfunJeJDclit. /. , d. SubrfJytotheDukeofJ?f«»»/? ,^,.. Heafoiuble. Succour to the '^ Landgrave of Htjji. Mifc«llaneous German' De mandt. Kavy Debt. Army Extraordinaries. Ordnance Extraordinaries. Deficiencies of Grants. Deficiencies of Fundi •,•♦" m in) J '.I y! .j:> o o Exchequer Bills. ^ Mr. Teuchit. ■ Nova Scotia Debt Barbadott Debt 1.1 •'■: ':>{,.. ml J C ? IJOOOO 1 1 106043 >3 H 45769»5 7 9 '39'93« 3 oj 107878 18 8 , 3>9'49 5 I 384854 3 6i ' 1800000 o o 7000 O- O r,ii I off in 1 764. and 1 765 J I. 54245 d. o Sh lOOOCO o 100:000 o o Provided 1)1 in iV^ij. O C 3 0-J 65COCO 1391931 107878 18 8 3^9'49. 5 i 384854 36 .. . 7000 9975017 12 2ii Deficiencies of ■ Ijand and Malt 600000 for two Years 9 o 7000 7C0O 1 0000 o o O o o 4092058 10 9 I, 600000 o o 1500CO0 Remaining in 176J. /. /. d.. 50000 o c- 106043 13 8 J, 2426915 7 9 180C006 ':L .. I o o 1500000 4382959 . 1 si' The Unfunded' Debt remaining at the end of the Scffions- 1765, though the Sum was ftill large, was yet fo circuniftanced that the Burden of it was not very heavy j as a great Part of it did->not>bear Intereft,. and above half of it was-not immediately payable : A large Proportion of the Navy Debt muft always be in thefc Circumftances': The 50,000/. to the Landgrave of He^e was not yet due : The mifcellaneous German Demands un- provided, for were not liquidated : The Million Exchequer Bills tak:n m « •ou«D a a •f *■' ► /• L if- ) ■ '■ ».■, / '.. • f j:» 1 L. i^- t =3 J taken by the Bank could not be claimed till the Expiration of the Term lor which they had agreed to circulate them : The re- maining 800,000/. were ifliied at i\\Ttc per cent, and certainly were not an Incumbrance, for they generally bore a Premium : Of the Navy Debt which was payable and not provided fo;-, no more than 471,589/. jj. 8 of the Unfunded Debt adUially bearing four per cent. Iritereft; : That the Public therefore might avail itft-lf of the whole Suip, it was necelfary to difchargc therewith a Part of the Funded Debt : The Navy Annuities hid in 1763 upon the Sinking Fund were undoubtedly the firft: Objed: j 2^ per cent, upon them was very nearly the Sum : The Navy Bills not included in the Sub- fcription amounted to much Icfs, and yet to fo much, that had they been provided for out of this Surplus, no Part of the Navy Annuities could have been difcharged,. as lefs than 500,000/. may not be paid off at any time, and 500,000/. weald not have been left ; but exclufive of this Confideration, even fuppoilng that the Whole of the one had been exadly the fame Sum as 25 percent, upon the other, it would ftill have been right to have preferred the- Annuitants : The Provifion made for them on the Sinking Fund was always intended to be but temporary ; they accepted it in the Expedhation of being paid off as foon as the Opportunity {hould offer; they had Merit with the. Public in fubfcribing, and were therefore entitled to favour : With refpedt to the Public, it was more important to make a Beginning, in the Redudtion of the Funded Debt, which is exceflive, than to take a Quantity of Paper Circulation out of the Market, which ■■ could hardly be faid to be, overloaded with it ; and the Stocks mufl" T 24 ] vmaft Tae more fenfible of a ReJudion of Debt made ifl a !Mode which proved that Order was reftored to the Finances, than to any further Diminition of the Unfunded Debt which Avould not have carried with it fuch a Demonftration. For thefc Reafons 870,888/. 5^. 5^.f were voted in the Supplies for 1765, for paying oiF a fourth of the Navy Annuities, and this Sunt being added to the former, the whole Account of Debt funded i id unfunded which was difcharged or provided for in the Years T764 and 1765^ excluiive of the Land aiid Malt Deficiencies itands thus : r. , . lU kj:: /. s. J. Unfunded Debt paid off Funded Debt paid off - 4,092,058 10 Pt-V 870,888 5 5f :»-'i- ■'s't .f— -V Total Debt paid off 4,962,94616211 tJnfunded Debt provided for - - 1,500,000 » ^ I, ;;• Total Debt paid off and provided for 6,402,946 16 2, 1 But this great Difcharge of Debt was not accomplished at the Expence of the Peace EftaHifliment : On the contrary, That iwas kept up higher than it ever had been before ; the Extent •of our Dominions, the Encreafe of our Power, the Refent- inent of oar Enemies, . xd the Jealoufies of our Neighbours require it : The Peace would indeed be ftiort and hollow if it were followed by fuch an Avowal of Weaknefs, as reducing the Army below the Numbers neceffary for prefervkig our Con- - Quefts, and rifking upon any fudden Emergency our Superiority -ac Sea, forwint of a conftant Provifion to maintain.it. The • Evils of the War are not to remedied by giving vu) the Advan- tages obtained by it j and whatever tbe Diftrefs or our Financed -inight be, it was not to be recovered by Means unworthy of the ^Dignity, aiid dangerous to the Safety of thefe Kingdomi : The ^ Peace Eftablifhment was therefore formed on a much larger ' Plan than after the former War : It has been enlarged (I think Amncceffarily) this Year; but on the other Hand, many of the pre- sent Ejcpences are meerly occaiio^alf and others are only the tem« • •'■• porary Ptt- ■9 ' ' C 25 I eftrary tlemalns of the War which will gradually diminilli : I will not, however, incumber the Account I mean now to give of the Sums granted in 1764 and 1765, with Calculations of the Redudtions which majr be expeded, nor confound the Eila- felifhment of that Time with the prcfent : But I will firll com- pleat a State of the Supply for thofe two Years ; I will next go- through the Ways and Means by which it was railed ; and then, deducing from each the Articles which only accidentally oc- curred, and allowing for thofe which muft either cncreafe or decline, I will endeavour upon a Review of the Whole, to form fome Eftimate of the annual Expence to be born upon the Plan then formed, and of tlie Abilities of this Counfy to bear it : The fubfequent Alterations may by this Means be more clearly feen and confidered. The Money voted for Naval Services exclufive of tlie Navy Debt was as follows : .IV.,?. Branches, ^ believe it would in the Whole greatly exceed that which is new incurred for them united. I fhall have Occafion to mention thefe Cutters ag-^in with refpe(^t to the Benefit re- fulting from them to the Revenue ; l here confider them only as providing a proper Employment, and giving A6tivity to that greater Number of Seamen which our Situation requires. The ether Naval Services were encreafed in proportion to that Aug- mentation ; the Ordinary of the Navy was above 100,000/. higher than it ufed to be j and there never was fo much given in any one Year, during the laft Peace, for Rebuildings and Repairs, as was granted in each of thofe two Years fuccef- iively. •iif &.ir-i5sr avv^t'tt^^. B ) 'y 4il '.-y-P'4i, The oatr;i 5 ');■. l/pDi-i J' \ kfw -j'^Kj '^i isml'r'LHiit A Hdrf ^ula? ; 1 H ;iog?v Vh-> ^azg '?A The Hi ->.i Slit W W i ^w ir trt ' I itm*mwf»ct ■,„.mfaiimwwmm:i^m,r*fi*mni.-^. * .'■ I •> I ' -<.-r ( 27 1 I The Sviw^Sj^!^^ ^^^ *^c Army come next under Confidera- tion, whijcnifpxjii^''ive of the Extraordinaries and SybUdies .al-' ready mentioned as Debts, were as follows : JJ. I /f! V .♦ Guards and Garrifoni* - • Plantations, ■iT//«wf3^(fmi^ti%i^'^ > Penfioiu to Widows^" ^- Difference between Iriji and Brit/Jh Pay, five ^ , Regiments. ' * * i4 i Three Independant Companies ^)f Foot on the ? .. ■ In the Siippliei for iffi*. /• i. 617704 .7 372774 6 11322 7 155644 11, 2605 15 103794 2 18331 1696 J. I0{ 4j 17 II \ In the Supplie* for 1765- /. /. 608130 10 387502 3 11291 8 it. 7. 135606 I 2 2361 109 107 i.Sv 6jj 6 H 18 1 4 ^2' J'4TetJl 12838771? 16641 6346 if 4» 126850^^ 8 loS This Eftablifliment ex53^, 'that maintained during' the lafl: Peace almoft 300000/. ^?rl»««;»b^t'th^Excef8 is not in the Army at Home, which^i^s jrather lower Ijoth in Numbers and Expence than it ufed to be : The Garrifons of Gibraltar and Minorca ha.\e been reduced from 3260 to 2 116 Men on the Britifli Eftablifhment, the Difference being made up by IriJIi Regiments ; in confequence of which Arrangement between 30000 and 40000/. is ajinually faved to Great Britain : But the Encreafe in the Plantations is in Numbers from 3755 Men to 1 0009, and in Expence upon'this Account only from between 80,000 and 90,000/. to^bov? 275,000/. ^rtf««. The Half- pay and C/^ * in- of which were only occafional,' fome are temporary, und feme will probably be per- manent : I fliall poftpone the diftinguifliing of them in thefe Refpeds till I make an Eftimate of the Peace Eftablifhment ; and at prefent will only divide them according to the Years in which they were refpedlively voted. I' / •U- i\>yi f. ■;' I ■yJi \-' -^'.'f ^^ 1 /'ii. ' ■ Mifcel- II :• •;/■ .' f1 '1- ' .... ■' , ".•; \. V >,j -•: L / 'jii (1; .*: •;!!,: -1 1.-.; , ;■ ■ ; .i^.iii . ?:):i';') ' ont I,; : •■ ■ > ' v.- - .' :: ,'. -Lil' . - i/ - • ' '■>' .. ' )!\ , . A '■ <• t . ..' - _■ ^;« - ■l-^ r S9 ] Mlfcellaneous Articles. Pay and Cloathing of the Militia Marriage Portion of the Princefs of « Brunfwick . - \ Paving the Streets Land Carriage Fifli Britijli Mufeum To replace Payments out of the « Civil Lift J For Nova Seotia Georgia Eaft Florida Weft Florida General Surveys of America Purchafe Money,. Gff. of Lands in I Kent^ Sujfexy &c. * Intereft of ditto For the African Committee ' ' * Fo"- -the Civil Eftablifhment on the 7 Coaft of Africa ,S For building a Blockhoufe nearCape ■% Appolonia S For the Foundling Hofpital Z,(i»ii?n Bridge J '■'■ !::.,; Total ^v.i- 80000 80000 1 0000 ^500 2000 135° 5:'°3 4031 5700 5700 1818 In 17^4 14 II 8 8 9 545 »5 lOj 20000 13 9* In 1765; /. s. d. 80000 — 240a >• i V . 491 1 3966 14 IC 5200 .1 " v' 5200 1691 I* 1 • ^r»-,-i • 38347 10 13000 5500 f 7000 38000 7000 \ 1( ■(>.> 263800 n 4i \173779 8 li ■fhefe Sums compleat the Account of the Supplies voted ia the Years 1764 and J 765, excepting the Exchequer Bills, which were 1,800,000/. in 1764, and 800,000/. in 1765, there being no Occafion in the latter Year to provide for the Bank Million. They mult be added both to the Supply and the Ways and Means, in order to conform to the Method of voting publick Money, and to explain the Tranfadlion concerning them, ithough the Effetfl is in Reality no more than continuing a Debt incurred before. Including theretuie theie, and recapitulating the Several Totals which have been ftated, the whole Supply for the Period now under Confidcration ftands thus : , j ,- . E 2 .:..'.'.:;: Debt .1/ ■ i.\t:: ji,')-: ( 3* ] Sf' i1 l^ebt paid off and provided for - Navy in 1764 Ditto in 176 c ' - Army in 1704 Ditto in 1765 - Ordancc m 1764 Ditto in 1765 Mifcellaneous Articles in 1764 - Ditto in 176^ Exchequer Bills in 1764 • Ditto in 1765 Deficiencies of Land and Malt for r. fi ^ ' ■ ■ • ' 6462946 16 «4l - 1444800 9 3 - 1450966 8 9 m 1283873 17 5I' - 1268502 8 I of - 173080 8 6 '- '7467J 15 10 - 263800 1 1 4i - »73779 8 11 M I 80000a . > 800000 j; two Years 6O0000 •'■ : l:ii. Total 15896424 5 T ■'* It is impofBble tc look upon this Account and not fo acknow- ledge, that if on the one Hand, the Debt which iiill remained; the oth6r Confcquences of the War which will be felt for fome Years, and thy great Peace Eftablifhment which muft be con- ftantly fuprofted, were melancholy Conltderations j yet on the other, fucfi a Supply, approaching to fixteen Millions, raifed within two Years, with tne Afliftance of but one Loan, and that for no more than 1 500000/. was Matter of Confblation : Not that this could have been efFefted by Means of the ordinary Revenue only j feveral grofs Sums were brought in addition to it ; but even that Refource is not exhaufted, and the annual Income of this Country is in an improving Situation ; as I fhall endeavour to fl>cw after having ftated the Ways and Means by which fuch a Supply was raifed. " ; The largeft of the grofs Sums was his Majefty's Bounty to his People, in applying to the public Service the Produce of the Frenc/i Prizes taken before the War ; it was computed at 700000/. in 1764, at which Time 661,058/. is. id. appeared to have been adually received; and Accounts of 62,700/. §s. gj, more raifed by the Sale had been delivered into the Office : But fome Difputes concerning this latter Sum having occafioned a Delay •«i«;.(a>««.*j»»^«««je«iss3;;:^,, lUP" M 'TT lelay t 3' I Delay in the Payment of it, fo much as was wanting to com^" pleat the 700,000/. is included in the Deficiency of Grants,, and the Money not paid in 1764, but expedted in 1 76 c, and reckon- ed at 62,500/. was applied to the Services of the latter Year.- The Deficiency which thus arofe being comprehended in the Supplies above flated, I muft fet down the whole Sum of 762,500/. in the Ways andM^ans in order to ballance the Ac- count. TheJlenewal of the Charter of the Bank afforded an Oppor- tunity for raifing another Sum of 1 10,000/. though fuch Oppor- tunities had not been improved in the fame Manner before, the Bank having never paid any Confideration for the Prolongation of their Term, and the Continuance of their Privileges, Their original' Charter in 1694 was granted on their lending to the Government the Money fubfcribed into their Capital, amount* ingto 1,200,000/. at eight per cent, the common Rate of Inte- rell at that Time, which Intereft with an Allowance of 4000/i for Management, amounted to 100,000/. ^^r tfn«. Their Term was enlarged in 1696, in order to advance their Credit, which was then very low ; at the fame Time, and for the fame Rea- fon their moft valuable Privilege, that of exclufive Banking as^ a Corporationi firft took its rife y and it was carried to the Ex- tent at which it has fince remained, in 1707, when the Re- newal of the Charter was not immediately in Contemplation ; No Propofition for that Purpofe was made till a Year afterwards, and then the common Rate of Intereft on Government Security being fix per cent, that Rate was fixed upon all the Money which the Bank was at the Time in Advance. The Exchequer. Bills which they had undertaken to circulate at 4/. 10s. per cent. two Years before, were raifed to it; and their Capital was re- duced to it : But being willing to keep the Whole of their An- nuity, they added 400,000/. to their original Capital, the Intew reft of which at fix per cent, amounted to the Saving of two per cent^ upon the i , 200,000/. and en exadly the fame Principle, when the Charter was again renewed in 1742, at which Time the common Rate of Intereft on Government Security was but. three per cent, they agreed to take no more on their Capital, but then (\ 1 . ' » ! f • If ^ '4' i ■'■1 I I 32 1 . •then they added 1,600,000/. to that Capital, in order to preferve their Annuity. As to Exchequer Bills, their Undertakings to circulate them are not peculiar to the Times of renewing the Charter : They are cummon to all Times ; and the higheft Price they ever required for this Service was on extending their Term in 1713. vnthout any other Condition annexed to the Piolongation: Particular Circumllances made it expedient then X) comply with the Demand ; and in Ihort the Circumllances of the Times will always influence evei-y Money Tranfa^ion : Go- vernment will never give a high Intereft, when it can borrow at a lower : Redeenaable "urns will therefore be always paid off or reduced, whenever the Rate of Intereft falls ; thofe which the Bank has advanced from Time to Time have been thus reduced as Occafions havp offered ; and the greatefl Re- duction ever made on their Funds was in 1717, when no Re- ,newal of their Charter was in Contemplation j hut their ori- ginal Capital and the Additions which have been made to it, are irredceroabje during the Continuance of their Term j and this is the rejil and the only Reafon that no Redudtion thereon has ,«vcr,tai:en plac&, except when the Expiration of their Term ovas in yiew j and then the Ban:k have conllantly chofen to ad- ivance ^ Sum of Money, not as a Confideraticn for the Renewd ,ef itheir JClharter, but in order only to have the fame Annuity /continued to them. In 1764 there was no room for fuch an Operation ; the Interell of Money was rifen fincc 1742. The Stocks were at a mijch greater Difcount ; and the public Credit and Finances were in every ref^edl in a far worfe Situation ; yet the Puhlick availed itfelf more of this than it ever had of any former Tranfaftion of the fame Kind : Indeed there is not an Jnftancc of any State at any Time receiving fuch Affiftance from a Corporation, as this Country received from the Bank, •within little more than a twelve-month : Credit both publick and private owes its Exiftence in a great Meafure to tneir Ef- forts ed -, the Completion of the Succcfs, niul the Importnnce of the Confcqutnce:-, all conlidcreJ together, this muil appear the mod tnonicntous and mod iliuib'ious Mo- ney Opi'ration that Europe ever was Witnefs to : I he Bank hardly recovered from the Agitation, the Convuifion of fo vio- lent a Struggle, entered into a Treaty for tJie Renewal of their Charter : At that Time the Unfunded Debt was large, the In- tereft paid upon it was heavy, and the Rate of it high j and the Quantity oi Paper Circulation had depreciated the Value of the beft : Each of thefe Circumftances of Oppreflion upon Credit, the Conditions of the Renewal tended to alleviate j for on the Prolongation of their Term for twenty-one Years, the IJank agreed, not meerly to lend a Sum of Money at the ufual Rate of Intereft irredeemable, which was all that had been done before ; but abfolutely to pay 110,000/. to be difpofed of by Parliament, without Allowan;ce for Intereft, or Repayment of Principal: They alfo undertook to. advance 1,000,000/. upon Exchequer Bills at only three per cent, and not demantlable iiv two Years, though Exchequer Bills bearing four per ci'tit. Inte- reft were at a Dilcount : They afterwards took the Lead in the further Reduction of Intereft upon Loans to the Government, by bringing down to thr^e per cent, the fecond- Millbn upon the Land -Tax ; and in the Midft of all thefe Dilburfements and- Defalcations, they proved their Ability, and'raifed their owni and the public Credit, by declaring an Advance of Half /it'r cent. upon their Dividends, A bare Enumeration of ilicle Fadts,, lliews at. the fame Time their Zeal for the public Service, and the Extent of their Powers, the Weight, of their Influence, and. the Prudence of their Management. The SuD\ paid by the Bank, confiderable as it is, is ftill the leaft of the grofs Sums of which the Public availed itfelf, du- ring the fame Adminiftration. The Army Savings greatly ex- ceed it J for of thefe 163,558/. 3i:. 3^/.tt were applied in the Ways and Means for 1764, and 251,740/. 2j. 7^/4 in thofe of , 1765, amounting together to 415,298/. 51. '1 w/.^l, and confift- • E 4 ing ..■•ti'r^'.r**..*,*^^. i ' d } V I ' i !ii [ 34 r ing of a Variety of Articles, fuch as Money voted hut not all expended, the Produce arifing from the Sale of Stores, Iiallaiicc« f due liom thofc to whom too nuich had been illucd, and other • Sums produced from the Settlement of Accounts ; but there • was another Saving whicli was laid before I'arlianicnt feparatcly : from the reft, and which could not be recovered but by a long r and minute rctrofpcdlive Examination of the State of all the : Regiments in the Service, as to the Deficiencies of PTlicdHves iij [ each } it was however undertaken, and by the Diligence and Accuracy with which it was made, a further Sum of- 170,906/. 2s, Sd. was produced on the uon cit'cdlive Accounts • in the Ways and Means for 1764. . :L . in ... i In 1765, the Compofition with i''rance for the Subfiilance • of Prifoners was laid before Parliament ; the H>{pcnces incur- red on the Account of thofe taken at Sea amounted to i, 174,905/. ; but by the exprefs Stipulation of the Treaty, Payment could be claimed only of the Advances for Subfiflance and Mainte-- nance : Other Diflburfements for providing Accommodations, . for repairing IVifons, foi- the Pay of Guards, Allowances to Agents, Chaises of Otiice, and a Number of di^erent Contin- gencieSf which were all included in the above-mentioned Sum, and amounted to more than 1 20,000/. could on no Pretence be charged ; and then the Crown of France had a Counter-demand on account of Eng^ijh Prifoners, not far fhort of 1 1 0,000/. even after a like Defalcation for Extraordinaries. Thefe Deductions being made, the Remainder was indeed for the Subftdance and Maintenance of Prifoni-r; ; but amongft them were many Wo- men, Merchants, PalTciigcrs, and others, fome of whom cer- tainly were not, and oi fome it was doubtful whether they were •to be deemed, Prifoners of War : Of thofe who indifputably were fo, feveral had been carried into diflant Ports, and dif- pcrfed through every Part of the Britijh Dominions j and yet Eviderjce muft have been given of the Day when the Subfift- arKie of every Individual commenced, and when it determined, by Death, Efcape, Exchange, or Releafe : The Materials re- quired by the Treaty to fupport which Charge are Receipts, at- tefted Ax:count8, and other authentic Titles, and theie mufl i have w- •--- ^ V -< )' i I i: 35 J have bedrt' trdi'ifmit'tcd from hll Quarters of tlic , Globe, and would oft6rt have been irregular, indiftindl, and dcfc6livc. To attempt only to liquidate ludi iin Account foenicu to be loflng time : To accomplifh It appeared imporfible : and in the Tro- grefs of it fome Errors and Frauds would have been dctedcd, fcvcral Queftions would have arilVn, many Vouchers would have been Wanting, and great Abaterhcnts rnuft have been al- lowed : To prevent therefore an endlefs Expente, Diijpute, and Delay, it was propofed to pay a grofs Sum in full of all thefe Demands j and after a long Negotiation, 670,000/. was at lart: allowed to be, as nearly as could be cailculated, the juft amount of them. The Accounts however of the Prifoners in the Ea/I- Indies not havitig been delivered ih, and thole in Germany being upon a different Footmg, Were neither of them included, but left to be adjufted hereafter ; and in the mean while the Sum above-mentioned Was accepted for the reft, payable by Inftal- ments, viz. 308,000/. in 1765, and the Remainder by quarterly Payments in the two fubfequent Years. This 308,000/. was taken as pa't of chr Ways and Means for 1765, and being ad- ded to thofe which have been mcrttioried, the iJtate cf the grofs Sums applied to the public Service in the Ways and Means for the Period now before us, is as follows : * Produce of French Prize's takeii befofr) ^, the War j 762,500 On the Renewal of the Bank-Charter 1 10,000 Army Savings ' - -; "-, ;' * "'•:).'4i 5,298 5 ii-J^, Savings on the non-efSsdtive Accounts i7o,"9o6 z h Part of the Corhpofition for the l^r^ch Vx\~\ q ^ foners l:o8,ooo I'di .-.; - ■•'■■'■ 1,766,704 8 7^^ 'J L...rp. r( 'V \\\\ A Thefe * At I am now malcing up an Account of the Ways and Mea/ia, the^ .I'bn has been already given for putting the Frtnch Prizes at the Sum at wbicb thej wer* 1 com- i i\k [36 3 }\ f; nary jFtevenuCi iucl^ !jis the Excheqi of^ i,8ob,oob/. in "1764, and of 800,000/. in 1765^ concerning •whkh there is no occafion here to make any Addition to what has been faid aheady. ^The Militia Money which in t)ic Ways and Means for ,1764 was' ij\:,ooo/. and in thofe of .f765 w^s 3o,ooo/. ai^d which is iij reality no nicrq thjiji a Matter of Ac- coufitj: Money being appropriated for that SerViqc every Vear, a^d the Receivers of the Land-Tax beip^ alfo every Year di- refted to pay the Expence in their relaeftive Counties j by which Means the Deficiency of the Land J^^axi is encre^fed, and the appropriated Money remains unapp)[ied : ,71^'e^^'yyas aUb another frnall Sum brQught to account , in- 1 7-^4,^ as jhe Surpl^i^s of the additional Beer Duty of .1761,' befcr? it was carried to the Sinking Fund, amounting oi-ily to 3497/.. 9^. 9«^'ri f, ,.^1 The ordinary Revenues are firft the annuial L^nd anp Malt» which I muft let down each Year at 2,750,006/ fot which they were given, as the TDeficiency is carried tp acco^unt in the Supply^ Then the -^wfr)rW« kevenues, and the, Duty upon Gum Senega» both of which I fhall'confider more at la.rgs: hereafter^ and here only meiition theai as given in the Ways and Means for 176^, the former for 6o,ooo/.and the latter for liz.ooo/. p'^dT laftlv the Sinking Fund,, which was given in 1764 for 2,000,000/. and which after all the, Aiarr» which had been. xufcd of. it/> falling fhort by above 400,000/. did adlually produce 135,213/. ^s. 0(J.-^ ■ more than it was.given for : and inftead of 220,000/. which it was 0id was all, that would be applicable out of the pub\i,c>k Revenue of th^ Year towards the pitehajrgp of _the Debt; 1,254,682/. 2s. 6/.^ was in fait applied- cmt. o£ the Sinking Fund for 'th&t Piifpofe, in addition to what was paid off . by muans of tht gcofs Sums then brought to account. The Sur- plus was moreover exclufive of 67,821/. gs. id.^ applied to jfomputed, rather t^isn at that which they a£lually produced : The Deficiency muft f not be added to the Supply of one Year, and deduced from the Ways and Means of the pieceding : But in fiSt the real Produce appears upon the. Account to, be no nisrethiin 723^7 58/. 'it, lod. and that is not all received. , make •■i'^M -^ \\: [ 37 3 make good fo miicli a« the Sinking Fund of 1763 b'ad fallen (hort.of the 2,000,000/. for which it was given; but though this Sum be thus taken out of the difpofable Money, yet having been fupplied by the Sinking Fund of 1764, it is equally a Part of itsProduce with the 2,000,000/. and the 135,213/. ^s, od ^ ; and thefe three Sums bemg added together, the real amount of the Revenue arifen by the Sinking Fund between 10th O^cier 1763, and loth O&nher ij6^, after having paid all the Charges upon it, whether permanent, temporary, or occafioned by its being a collateral Security, which were incurred durini^ the fame Period, was 2,203,034/. 14J. id^. The Overplus of 1 3 5^ 2 1 3/. 5/. o^/.f which remained for the Difpofation of Parliain.ent wis applied in the Ways and Means for 1765, and on the Encouragement given by fo large a Produce, upon which there v.as a Profpedt of a further Encreafe in confequence of the Regulations made for improving the Revenue, the Sinking Fund was alfo taken for 2,100,000/ *. But though there was little room to doubt of F 2 its * The Sinking Fund being made up in Oilober hid an accidental Advantage in 1765, by ihe Beer Duty having been caYried to it at Chri/fmas, 1764, as thereby three Quartets Produc of that Duty were received, while but Half a Year'« Charge upon it was horn, the Annuities being payable at Mitifummtr and Chfijl~ mas : The Quarterly Payment of tholl- Annuities being 124,000/. fo much muft be allowed out of the aiSlual Produce of the Sinking F'unJ in 17$5, when confi* deied as the MeaCure of the Produce to beexpefled in fubfequent Years : But even after dedufiing 124,000/. fro'r 2,203,000/. the Remainder falls fo little fliort of ajioojoo-^/. that it is hardly worth mentioning, and the improving State of the Sinking Fund was more than a Baliance againft 21.000/. which was all that even en this Calculation would be wanting. Nor was the Surplus upon the Confidence ai which fo much was taken collufive, on account of a Deficiency to be expedled in the Chrijimas Quarter : Such a Deficiency was not peculiar to that Year, and if the Account were fallacious then, every other which has been made up for fome YeTB has been fo too ; but the Fa<5l is no more than this : The lad Baliance of the Jiinking Furd being always ftruck on loth Offober, the Chrijimas Quarter thereby becomes i he firft Quarter of the Yearly Account i and uCed to be always deficient : That ti.erefore the AnniHtants charged upon it might not be difappoint- ed, a Sum was corftantiv referved fuffivi^nt to anfwer their Demands; but that Sum was only borrowd for a (hoit Time, and was re;;ularly repaid to the Sinkin* Fund of the preceding; Year. Agrreably to this Fiai^ice, when the Account for 1763 I) ) ■ [ 38 I its aftualfy producing; more, yet it was not fuppcfed that the dif^ pofeable Money on the enfuing loth October would be fo much, becaufe the Purchafe Money of the JJle of Man which was 70,000/. being Payable out of the. Cuftoms,. fell up' . the Sinlc^ ing Fund; and another occafional Burthen of 205,24.6/. 5/. was alio Hd immediately upon it, by Means of the Ad pafled in I76<; for remedying the Inconveniencies which were occafioned by the Cnrjima Quarter of the Sinking. Fund being always de- ficient: As the Deficiency arofe from the Charge upon th^ Quarter exceeding the Produce,, that Charge was reduced by altering the Pay-days of the four percent. oonfoHdated Annui^- ties from 5th JarMiry. and 5th July, to the 5th April and loth GBoher, by which Regulation the Chrijlmas Quarter is -cUeved from a Burthen of 410,492/. loj. which it was r / * n : I to» and that Burthen is transferred to a Quarter which it will not opprefs : The former Perplexity is avoided j the Danger of not referving fufficient to make good a Deficiency, which depending on a cafual Produce could never be previoufly afcertained ex- adlly, is prevented; the Ifil'-; of the public Money is more equally diftributed to the feveral Parts of the Year j and' the Inconveniencies arifing from the Books of the Bank being kept fo much longer fhut at the Cbrijtmas and Midfummer Quartci^ i>. i,'.-j 1763 was made up en loth Osiohet that Year,- tlie ufu.\l Deficiency was forefeen, and Provifion was made accordingly ; not by a Deduction from that Account, but bv retaining unifTued fome Part of tl>e Money therein fet down as difpofeable Sur- plus, and which was applicable fina ly to the Service* of that Year. The Sum wanting on 5th Januaty 1764 was 128.684/. 17J. 8^ J which was then furnifliw" out of this referved Money: Pat it was replaced out rf the Pro'uce of the foilowii>|f jfpril Quarter in 1764, an>J paid in to the Account of the Sipping. Fund 'oi 1763, in difcharge of the lemporary Loan out of its Produce, and not liice tlw 67,821/. 0^' l^'* which wr.s an atSlual Deficiencv of that Produce-, fo that the Sinking Fund of 1764 in the End fupplicd the Deficiency of its own Chrijlmas Qi>arter, and the Surplus of it arofe after &1I the Charges of four Quarters from joth Oflof>er, 1763 to 10th O^ober, 1764 had been born : It would be aflnguiar Objedtion to a Yearly Account, th<.t it did not include five Quarters ; and yet the Fallacy imputed to this Surplus was, that Part .of the Charge of a fifth Quarter was not laid upon it; but all the Difficulties which attended this neceflary Ma- nagement arc now removed by the AQ. referred to in the Text above. thon I V t but 1 39 ] tlian at the othots, are taken away : In order to accompllfli the* Alteration without Prejudice to the Parties concerned,, the A<5b diredled that one Quarterly Payment fliould be advanced in 06lokr 1765, and that afterwards the Half-yearly Payment Ihould be made in CSlober and April j by which Means the Sinking Fund of 1765 was charged with five Quarters of thefc Annuities, viz, two on 5th 'January and two on 5th Julyy ac- cording to the former Method of paying them, and one on loth OSlober in order to introduce the new Regulation : Each Quar- ter of thefe Annuities amounts to 205,246/. ^s. and both that Sum and the 70,000/. given for the Purchafe of the IJle of Man are accidental Charges on the Sinking Fund of 1765, which no former Year has born, nor fubfequent Year will bear; and which muft always be attended to in judging of the Surplus of that Year : They were forefeen, and it was therefore declared that the 2,100,000/. would hardly be raifed before ChriUmas^ ^7^5 i but as the Nav^y Annuities were not to be paid oft till then, the wait- ing for the Produce of that Quarter to make up the Sum, could. . be attended with no Inconvenience. To the feveral Sums and Revenues which have been men- tioned, the Loan of 1,500,000/. which was made in 1765, and of which fufhcient has been faid already, muft be added, in or- der to cort^ pleat the Ways and Means for the two laft Years^, and then thi^ Account of them ftands thus :. . i - Groft •• jfi I .''i' -; -^h? itty a n^i t irtitt u tr, .....Ja...--^^-. ' n-^ h . , •[ 40 ] Grofs Sums applied - - . i ;'[ 7 Exchequer Bills 1764 - - .' - - Ditto 1765 Militia Money 1764 - - Ditto 1765 - - Surplus of Annuity Fund 176 1 - < , Land and Malt for two Years - r' ■'. ^ . .; jf**»erican Revenues ^ - • . .. • D. f r Gum Senega - i. Sink.; "und 1 764 given for Surplus of Sinking Fund 1764 above thel 2000000/. - <'■ , Sinking Fund 1765 given for Annuities and Lottery in lieu of Navy Bills /. s. d. 1766704 8 7^1 1800000 800000 , ICOOOO 80000 3497 9 9 55000C0 60000 V. ^ 12000 2000000 135213 5 cf 2100000 1500000 . I ,. ■ , - Total 1 590741 J 3 4tV The Whole both of the Supplies and of the Ways and Means for the Years 1764 and 1765 being now ftated, fome Eftimate may from thence be formed of what each on the fame Plan would in fubfequent Years have amounted to ; in doing this I will take the latter of thofe Years as the beft Meafure to go by, be- caufe the leaft afFefted by the Confequences of the War j and I muft firft dedu<5t from ihe Supplies all the Charges which do Jiot belong to a Peace Eftablifhment, fuch as Debt paid ofF or provided for. Exchequer Bills which are Debt continued, and »of the mifcellaneous Articles, London Bridget the Blockhoufe near Cape Appohnia, and the Money given to replace Payments out of the Civil Lift, all which w^re occafional Expences now at an End ; on the other Hand, an Addition muft be made to the Expence of the Militia^ which though charged at no more than 80,000/. for either of the two Years, yet being eftimated at 150,000/. in a Cloathing Year, muft be ftated on an Average at about 1 00, oool. per ann. and there are alfo to be added theDeficien- «cies of Funds, and the Extraordinarie* of the Army, Navy, and •Ordnance, which though Debts when brought to account, yet as ik [ 41 J as they will annually occur, muft be included in an Eftimate of the annual Expence. In the Deficiencies of Funds I include all Sums paid out of the Sinking Fund as a collateral or temporary Security, which are to be made good by Parliament, and are a Debt incurred every Year to be paid out of the Supplies of the next ; theie were in- 17651 Deficiency of Annuity Fund 1758" Deficiency of Annuity Fund 1765 Navy Annuities /. s. d. 48176 I lit 49742 I 2i J 39342 2 4 237260 5 6 but 34,835/. Jtoj-. 7f Navy Annuities having been faved by pay^ ingoff 870,888/. 5/. $d.f of the Principal in 1765 the Defici- ency of Funds was thereby reduced to about 202,400/. As to the Extraordinaries which may be annually incurred be- fore they are provided for, thofe which have been brought to ac- count, confifting principally of Debts contraded by the War, afford no Affiftance in eflimating fuch as may be expected in a Time of Peace ; fome there always will be for Services which could not be forefeen; but others have been frequently laid be- fore Parliament in apCounts of Debt rather than in EftimateSy. only as the lefs quel^onable Shape : It is a irore open, a more manly Proceeding td State Things as they are ; and previoufly to provide for Services which will certainly occur : This was the ConduG of the former Adminidration ; and the Eftimates are thereby raifed j but the Exceedings will be fo much lower. The Navy during the late Peace annually contracted a Debt of about 100,000/. but it appears from the Papers laid before Parliament in 1752 and 1754, aflligning Reafons for the En- creafe, that a great Part of it arofe from too precipitate a Re- duction of Seamen, from too fcanty a Provifion for Rebuildings, and from Arrears of the War : I allow in another Place for fuch Arrears, and therefore canaot include them here -, The Rebuild- ings i I 1 i ' f M 1 42 ] hrgF, and Repairs are a heavy Article immediately after a War; but when the Navy has been once put into thorough Repair, the regular Expence might certainly be brought within 200,000/. which was the Sum allowed for it in 1 765 ; the Ordinary on the Eftablifhment of that Year, was near a third higher than it ufed to be ; the Number of Seamen almoft double ; (for during (the laft Peace they never exceeded 10,000, and were one Year ;reduced to 8000 Men,) and the four Pounds per Miin per Month, which is voted for them, furnifhes a larger Sum for Extiaordi- naries than the additional Expence will require ; fo that though the Services *be more extenfivc, yet as the Provifions made for them have been encreafed in a greate- Proportion, it may reafon- ably be expcdled that a Navy Debt ould not be annually in- curred, when the Confcquences of tii War are fatisfied. The Extraordinaries of the x'^.rmy in the late Peace when .quite clear both of .the Confequcnces and the Preparations of War, were hardly 25,000/ per aim. Thofe incurred in England jiiult be nearly the. fame as they were : Thofe \n Scotland fnould .be much lefs, the Ex.pence of making Surveys and Roads in the Highlands being ended, or drawing to an End : The Charge pf Provifions for Gibraltar and Mino'ca,^ Part of which always (Came into the Account of Extraordinaries, is diminiflied, by the .Reductions made by theTreafury in 1764 in the Prices of all Con- .trads : And the Difference between Brittjli and Irijh Pay, wlMch ufed to be inferted in that account, is now included in the Efti- .mates, Thefe feveral Articles amounted to above two .thirds of the .Whole -, and fo much therefore the Exceedings on the ^Services above-^mentioned ought to be diminifhed ', but in Ame- rica they muft be encreafed : That Service is .not only more -cxtenfive than formerly, but fome Parts of it cannot yet be tho- roughly underffood ; and therefore the Extraordinaries cannot be calculated : Two principal Articles, however, by which they are generally incurred, the Garrifons and the Provifions were amply provided lor on the Eilimates laid before Parliament in J 765 : Were I to reckon the others which if that Counlry had .continued as it was, might have arifen, at i 6,doo/. or 1 8,000/. more than m • •[ 43 1 th^n they hiwe commonly been in Times of Tranquility, it \Youl(i ff^em a great Allowance ; and yet even allowing fo rnuch^ the Extraordinaries of the Army would not upon the Whole exceed the Sum they aipounted to during the laft Peace! , The Butinefs of the Ordnance is of luch a Nature that the Extraordinaries can be forefeen and computed with greater Cer- tainty than any other : They are comprehended in the Eftimates» and thoie inourred and not provided for in Time of Peace fel- dom exceed 5000/. or 6000/. The American Expence, however, not being yet known, the,Exceedings may for fome Tijne be rather more; but as all the new fiftablimmcnts there were included in the Eftimate for 1765, and the ceded Countries were at the fame time very largely fupplied with Stores, I believe 10,000/. niay be an ample Allowance. Upon thefe Premifcs the Peace Efiablifhment upon the Plan adopted in 1764 and J765 may be calculated in the following Manner: - - >^,; -u v- iw ■■ - ,,. Army ^ i . Ordnance - The four American Governments General Surveys in America Foundling Hojpital ^^ -.'^ ^^ To the African Cottimitl6'e '^ For the Civil Eftablifhment oh the Co^ Qf Africd Militia - - - Deficiency of Land and Malt Deficiencies of Funds .-3^,, .'/» •'- no •^.■)Utv]Ti'. o ll n nj tt 1,450,900 i,268,5po 174,660 19,200 1,600 3^^000 r3,ooo 7od,ooo 300,000 202,409 Extraordinaries of the^'Army aiid OfdJliulC*' " ^V ^'l' 3 ciood Tbfal 3,6o9i7oo «0 . ti'.o mn'/. a.>ni)ifniai-'-voJi; u;!: •4 '*. • t' a f ^ . r O. , ■ The V,' i:js .thui l"WM t.!l.|. Land and Malt Militia Money American Revenues Duty on Gum Senega Sinking Fund t ji_i / .. I ni.il itlr ...... rrit'I v:.>. .100,000 .'^\ • [ 46 r ts they then were j but both arc conflantly luhjcCt to great Al- terations : Every Year will produce Tome ; and as many which inufl be v«*i*y conliderablc were near in Profpefl, and certain, un- 4ers a Change of Meafures interfered to prevent ihtm, it is nc- celTary to lake thefe alfo into Confidcration. The Navy is liable to the kal!:, for excepting the fmall Sum of 5000/. for a Lazaret which will fall in of courfc, I do not fee any Redudtion which can be depended on : The Provifion for Rebuildings and Repair; was indeed very liberal, though it has been fince thought too fcanty ; but in the former Peace (after the firft Charge had been defrayed) no more than 100,000/. was ever granted, and even that Sum not conftantly : The Whole that was given in 1752, 1753, and 1754 amounted only to 200,000/. fo that on the Ertablifliment of 1764 and 1 765, there was as much allowed in one Year as had been be- fore given in three ; the Navy is larger than it was, nnd it ought to be kept on the moft refpedtable Footing ; but furely fuch an Encreafe mud be fufficient, without incurring any iPebt, to anlwer all reafonable Purpofes whatfoever. The Eftimates of the Army were open to greater Redui^ions j for the Vidualling of the Regiments in the Plantations, amount- ing for thofe in Ncrt/i America to 22,242/. 3/. ()d. and for thofe ^n the ceded Iflands to 9*7 S^l- (>s. io!'t ' [ 47 ] But befidcs this, a further Experience of the Service mu/l point out other Savings : Some were inade in 1764, fuch as a real' inftead of only an apparent Dcduftion from the Pay of the Men vidtualled in North Atmricai^. and putting a Stop ^o the Pradice of fupplying the Provincials with Provifions at the Ex- pence of Great Britain ; an equal Attention to publick Occo- nomy would certainly difcover more in a Service fo new, fo cxtenfive and fo open to Abufes> and it plight therefore be fairly prefumed that within a Year or two this Expencci would have been confiderably, abated, and full Half of, it perhaps taken off in four or five Years •, but thefe are Coiiliderations which I mention now only to fhew the State of the Service at at tliat Time : I fhall hereafter obferve upon the Difference between that Time and the prefent, in this as in every other Circumftance relating to the Colonies. ; As to the Ordnance, every War leaves fome particular B«- fmefs for that Office to perform ; cither a weak Part has been difcovered, which the Enterprizes of our, Enemies warn us to ilrengthen, or fome Conquefl: which has been made requires Fortifications to preferve it : At the Epd of Qjjeen Anne\ War it was Gibraltar and Minorca : In 1 748 it was Scotland and Nova^ Scotia : It is now the ceded Countries in America. Such a Ser- vice therefore is not peculiar to this Period -, every other Peace has been charged with fome which were fimilar,,and which- being now determined or diminifhed, make room for the prefent- Expence : This too like them will gradually leflen, it, is pro- bably of a fliorter Duration than they were; for the new Co- lonies will certainly be as willing as the old Colonies are, when • they fhall be as able, to maintain their own Fortifications : Other extraordinary Services are in the mean while drawing to- wards a Conclufion, and the Savings upon the Whole may per- haps amo int in a fhort Time to 10,000/. or 1 5,000/. /^r ann. There are befides in each of the Services very confiderablc Expences, which are always high after a War, but which de- pending upon Lives and Contingencies, niufl diminifh every Year; fuch as the Half-pay to OfHcers of the Navy, Army, and Ordnance, ! [ 48 ] t Ordnance, Chf/fa Hojpifa/, and other Penfions and Allowances." In the Eftimates for the Year' 1750, thefe fcvcral Articles amounted together to about 219,000/. In the Eftimatcs for 1754,'th^ Avere reduced to about 184,000/. they amounted iu 1765 to about 377,000/. and if, fuppofing them now at the Height, they dccrcafc only in the fame Proportion as they did before, they will net four or five Years hence exceed ;? 17,000/. or in other Words the Peace Eftablifliment iX the End of that Period will be reduced 60,000/. by the Savings on thefe Articles, "^'^thin the fame Period the Service of furveying America win be at an End ; and the Expcnce of the Foundling Hofpital, which in confequence of the late Regulations decrcafes annually, will have in a great Manner ccafed : The Deficiencies of Funds too muft be diminiflied j for both the Annuity Fund' 1763, and the Navy Annuities being iowr per cents, redeemable, the leaft that can be thought of is that they will be redur'-d to three : The Saving thereby will be above 60,000/. per , it may reafonably be expected befides that a great Part of ''a- Ty Annuities may be paid off; and at the Time I am now con- fidering there were no Thoughts of repealing the Cyder 1 ax, which was fo confiderable a Part of the Annuity Fund 1763 ; on the contrary the Profpedt then was that it would produce on an Average 15,000/. or 2o,coo/. more than it did in the remarkably deficient Year, which alone had then been brought to account ; with an Addition therefore to the Produce and a Diminution of the Charge upon that Fund, it would rather have yielded an Overplus than have incurred a Deficiency, and the whole Article of Deficiencies of Funds would probably Jiave been lefs by one Half in the Space of five Years. 1 i I . . »' ^ sV.:T J:u'^n :;_:wJ'^u Thefe- • ' . rt f 1' '■ ■ ' ';.€ ';• ; ,,!.r- rN''i>: aivjw 1, 'i''-; ■ i ( 49 1 Th^re foveral Savings being collected togeHicr the State of Hhcm is as follows : f . ; i ! C> . r n ' : ' . : r. ../n -, ■ ; .i •■•• .'..1. ".ii "1^ •Jv''i)«''^^'> 'n^<' •''?•' '1 '". -iii!'X/T •^r' L!,]' .. /^ In the Navy li-'niii ?iU ,• .n--. > j-.!«- > ■ i-.^.'.;tl ^qoo IntheArmyr • * " -mt • . 16000 In the Ordnance - ' ' \m • .;.) - 10000 In the Half-pay Cbelfea Uojpitat, &c. &c. -'^ ;' ' ' 60000 Ini thcSurvcysof America " '■ '' ' ' -'» >'* ' nl. . r /. 1600 la the Foundling Hospital \"'ii ^"-'i; '1. ' 38000 In the Deficiencies of Funds ) • '^ • ^ -^ looooo .'(,'..• 1 ■ -jiri -.liJ /.. , >!■' >« '•/ 1 ^-'l v^^'t ''i ''''i k--*"',U Total 230000 Moil of thefc Articles I am fcnfible I have under- rated r There were alfo other Redu(5lions likely to take place, but which not being cq,ually fure,, I have not mentioned j and of thefe fome of the mofl confiderable mufl be conftantly encreafing : But by thefe alone thus eftimated, there was almofl a Cer- tainty, that the Peace Expences on the Plan then eilabliOied, would' in five Years have Deen> brought to about 3,380,000 per ann, and that more than Half oi Uiis Reduction would have been made in two Years. By means of fuch and other Savings in the Expenditure, and ©f the Improvements which I fhall prefently mention in the Re^ venues, an Opening was made for a Redu<5tion of the Land- tax : The knded.Intereil could not defire fuch a Relief, while a vaft Unfunded Debt prefled down public Credit,, clog'd all the Meafiircs of Government,, and abforbed every Refource of Re- venue : But that Debt being brought within Compafs,, the an- nual Charges diminifhod, and further Reductions immediately in view : When thefe fhould have taken Place on the one Hand ; and wh-rn on the other Hand, the Laws paffed for encreafing the feveral Branches of the Revenue,, and for engaging all Britijh Subjefts to contribute to the Support of their Country* fhould have had their EfFedt j a Shilling in the Por.nd at firftj and afterwards, perhaps, more plight haye,bcea taken off, and ' ' as i{ t i^ lis fb mnch'had"be«hTldne t!i' facilitate %cl/a^'e4u^pflii:^'^aij ^become nc diflant Objedt, " • ' ' ■ It \/ould be Raflmefs to fpeak very dec;flvely of the other .principal Branch of annual Hevenue, the Sinking Fuikl, com*- pofed as it is of fo vaft a Variety of Parts* all of them in thet Nature fiuduating ; bat yet by computing what k has amounted ■to on an Average for (qm^ Ytats hjif^ «nt(l<n(litute the Surpflasl or as it is ic»riet5ihes called the Produce of the Sinking Fund; other Difburfements whitii may be paid out ^'f it, in cofifc^uence of ks being a collateral or a^tempo- rary Security, are no* properly Charrges upon it ;. the^ are al- ways 'coriditioned to"be made good out of the fir^'Aids granted ty Parliament,- and are therefore no more than occaftohal^ums, advanced One Year,- and replaced cmt of the SuppL^j cf the sicxt I But the Sinking Fund being ftiJl fo qiuch in Advance, Care trmft always be taken in "cafting up .'it's Produce for any given Tertn, to def'mdt rrom the firfb Yeair of th'at.Terrh the Money then brought from the Supplies, and to ^dd to the, lift the amount of the Dleficiencies paid out 01" it that Year, in order to come ^ ihe true Total of the geriuinfe Sinking Fund. Thife beihg prcmifed, the annual SurpHts Papers' furhill;ifufficient ^late- rials for making up fuch an Axcoiirtt",'ahd in them the 'Produce for the feveh Years, previous 'to i 765,' is ftated as follows : ' For [ 5» ] For the Year 1758 .,. .; 1760 -. /.. ,'L.. 1761 } 1762 1764 ,'*» J :■/; Total /. s. y ■* * * w\\r*,j n m !';,'^- I 52 ] But *hough this Term be the beft that can be taken for fuch a Calculation, as comprehending in the latter Years of it at leaft more of the cohftitnent Parts of the prefent Sinking Fund than any other, the Average upon it is ftill a very imperfect Meafure ; and that upon aS many fublequent Years will without doubt be greater : The a:bove Period was for the moll Part Time of War ; and there are few Funds which do not gene- rally yield more in Time of Peace ; thofe of Excife, the moflr important Branch of ?\jy, particularly do, unlefs accidentally affedted by Seaions ; An annual Improvement at all Times arifes from the Falling in of Life Annuities i thofe fubfilling at the Clofeof the Year 1764, amounted to near j 00,000/. j.er anm and a third of them were created during the War : So that the yearly Saving on tl^at Head will be greater tlian it ufed tp be in the former Peace j Some befides of the moil lucrative Accef- fions to the Sinking Fund have been carried to it fo lately, that the former Years of the above Period had no Advantage from them : The Beer Duty upon which the Surplus is near 30,000/. perann. was not incorporated till 1764, and of the Regulations made during theAdminiilration in 1764 and 1765 in almoft every Branch of the Revenue, fome indeed had taken Place in the lafl Year of the above-mentioned Term, and whatever the Opera- tion of them was, it will continue : Others, however, had not then commenced j that known one for Inflancc in the Polfe Office, by the Rellri<5tions put upon Franking, and by t^ FaK^ ling in of the Crofs Poil on the Death of Mr. AlleHy. which- together were eflimated at t2,oool. per ann. was not brought tO' account till the lafl Quarter of 1764, and many can hardly yet have had their full Effedl : No precife Judgment can be formed of the Civil Lift Revenues, which have been incorpo- rated about Half of the abovementioned. Term -, but though their future Produce cannot be calculated with Exadhiefs, yet the Fadl of their having produced, even on fb difadvantageous an Average as of the whole Reign, much more than the 800.000/. which v/ere given in lieu of them, fully confutes all the Endea- vours which have been ufed to depreciate his Majefty's Munifi- cence : The Advantage accruing from thence to the Public is. iliU lis liU [ 53 ] ftill more apparent on the fairer Average of the three Veirs of Peace we have enjoyed ; and in the laft Year the Surplus was about 200,000/. The Acceflions to the Poft Office indeed come into that Account, and whether the Regulation of Franking would have taken Place unlefs for the Benefit of the Publick, may be a Queftion ; but even dedu(5ting thefe, the Incorpora- tion is ftill a noble Addition to the Sinking Fund, and it will hardly be Icfs than it is now : On the contrary, thefe Revenues will in common with others continue to encreafe, unlefs new Meafures interpofe to thwart thofe which were taken for tlie Improvement of almoft every Branch of Revenue : What the amount of all thofe Improvements may be, does not admit of a Calculation; it is not even within the Reach of Conjetfture ; but that it mull be very confiderable is evident from their Num- ber and from their Importance : To ftate them only is to prove it : and that Proof I fhall endeavour to give, without pretend- ing to feparatc thofe which in 1 764 had begun, from thofe which wore ftill to begin ; or fuch as immediately from fuch as ultimately afFed: the Sinking Fund ; but confider them all as Improvements of the Revenue in general. In the Cuftomsr, not only Regulations were introduced into particular Branches, but general Precautions were taken for the Prevention of thofe illicit Pra(aices, which are equally deftruG- tive both to Trade and ^ enue : Not that they can ever be totally fuppreffed ; but tixtv may be and they have been very much checked, by exerting the Po\^ crs given by the Law for that Purpofe, by vifiting ^nd exaniiiinig into the "^tate of every Port in the Kingdom, by exciting an extraordinary Vigilance and Alertnefs in the Officers, and by adding to the Se Guard T/hich before fubfifted, all the Aid which an enlarged Marine Eftablifliment could fupply : The Occafion as indeed more urgent than ever ; for our Power and our Taxes have encreafed together ; a greater and more a<5tive Force is therefore requi- fitc to Tifintain the one; a more fteady, a more vi? ^ous Exe- cution of the Laws is neceffary for colleding tlu len Accu- mulation of Duties is always a new Inducement to Smuggling : X^ruifers are undoubtedly of Ufe in retraining it ; and to mul- U 2 tiply I. i\ • [ 5+ ] tipty their Nuriibcrs muft cncreafe the Hazards, the Lofle*, and the Expences of Smuggling : But all their EtFcdls can never be exa<5lly afcertained ; for the en:iploying of bmuggling Cuf- ters is a preventive Meafure : They are intended to deter, to dif- appoint, to delay, as well as to fcize ; and therefore to judge of them only by the Captures they make, is to confider but a Part of their Utility : Thofe in the Pay of the Cuflom-houfc^ if tried by this Teft, would hardly be found to anfwer ; and yet to leave the whole Sea open to Smugglers, that they may there hover unobferved, watch their Opportunities without Mo- leftation, and carry on their TrafHck without Danger, io a pre- pofterous Idea; if it was right at all Times to have fome, it muft be right to have more Cruifers on this Service now that the Pro- fits of a clandeftine Trade, are, by means of the additional Duties, greater than they were ; and fliould it only appear that though the Temptation be fo much the ftronger, yet tne Pfac- tice is not cncreafed in Proportion, that Circumftance alone would prove the Efficacy of this and the other Meafures which were taken to obflrud: it : The additional Number I have al- ready obferved, are furniftied more eafily by the Navy than they could be by any other Means j and it is no Derogation from their Service, that rrore Captures have been niade a/foat by the Officers of the Cuftoms than by thofe of the Crown : What* eVer is taken whether by Boats or by Cutters^ and v/hether in Harbours in Rivers or on the Sea is feized ffioat ." But the Ope- ration of the Navy Cutters is chiefly on the Sea, and the fair Parallel therefore would be betweea the Cuftom-houfe Cutters only and thofe of the Navy, in Proportion to their Numbers. Several fimilar and fome new Regulations were made for the Tame Purpofe with relied: to j^rffrica : The Objed: was more important there -, for th- Evil was greater, and the Confequences of it more pernicious, as tending to break the Conflejfion be- tween the Mother Country and the Colonies j but lefs Care had been taken of that Department than of any other : The firft Step was to eftablifli an cflfedual Sea Guard, which was more wanted than it is here, becaufe the Difficulty is greater to fe- cure fuch a vaft Coaft, full of little Creeks and Landing-places, im- [ ss ] impcrfeftly explored, little frequented, and net at all attended to : But by enlarging the Operation of the Cruifers, extending the ho- vering Ads to the Colonies, and preventing the eafy Communica- tion of fmuggled Goods from one Province to another, fome Re- medy was applied to the Evil. All Intercourfe with St. Pierre and Miquehrij was at the fame Time prohibited, aivl the Pradtice of clearing out for the Plantations a fmall Proportion of a Cargo in the Ports of this Kingdom, with a view to run in the reft there, was totally put an End to. By thefe and many other Regulations, which it would be tedious to enumerate, fome Check will (if they are duly carried into Execution,) be cer- tainly given to the illegal and dangerous Commerce which has fo long and fo fhamefully prevailed in the Colonies : The great Motives for fapprcffing it are Conliderations of Trade, which I fliall enter into more fully hereafter : At prefent I men- tion thefe Reftridions only as the Means of improving the Re- venue at Home, by adding to it the Duties retained on fuch Commodities, as are thereby driven back into their natural- Channel through this Country, inftead of being imported into the Colonies either diredly from Europe^ or from foreign Plan- tations^ As an Object of Revenue alone, the Smuggling from the tjle of Man was a more inveterate Evil : The Extent of it was grofsly apparent j for the Produce of a little barren Country,, bleak in its Climate, and blighted by the Sprey of the Atlantic Ocean ; or the Confumption of the Natives, few and needy as they were, ignorant of the Luxuries, and content with few of the Conveniencies of Lif,, could hardly amount to Articles of Commerce : But the Trade by which the Place has been peopled, and the People have been enriched, was calculated for far other Purpofes : The Situation of the Ifland was convenient for Smug- gling : The peculiar Grant of it from the Crown, and its Ex- emption from the ordinary Procefs of the Courts of Great Bri- tairiy defeated in many Refpedls the Execution of the Laws j and favoured by thefe Circumftances, the Traders there pro- vided inconceivable Quantities of contraband Goods, with which they fupplied the Weftern Coafts of England and Scotland^ from ■ '" ■ .-••:- Coithneji Vi [ 56 ] Caithnefs to Cornwall^ and the whole Circuit oF Ireland: With this View they imported into the Ifland Wines, Brandies, Vel- vets, and other Species of Goods from Fnmce and Spain : Tea, China, Tobacco, Sugars, Lawns and Cambricks from .ffow- />urg^, from Hillandt and from Flanders : They roved into the Baltic in queft of a further Supply, and brought from Denmark and Sweden all Sorts of Eaft-Indian Commodities : They pro- cured Rum, Coffee, and other Produce both bf our own and of foreign Plantations : They brought even in London and en- tered fbr Exportation the Silks forbidden to be worn, and af- terwards ".-imported them : They received Draw-backs, at the Britifli Cuftom-houfes on Goods which they carried out only to run in again ; and conftantly keeping in Store large Affortments of prohibited and high-rated Commodities, feized every favour- able Occalion to convey them away, which they never waited for long, as all tempeftuous Weather was their Seafon \ a dark Night was c.n Opportunity J and from whatever Quarter the Wind blew, it drove them to fome ready Market, filled with their Aflbciates and Cuftomers : To fuch a Height were thefe Pratflices arrived, thai the Lofs thereby occafioned to the Reve- nues of Great Britain was computed at 200,000/. and to that oi Ireland &t 100,000/. Some Check might have been given by Ai^s of Parliament : Their Intercourfe with foreign Coun- tries, and with this might have been reftralned j the Importation of certain Species of Goods might hav6 been forbiddeii j Brea- ches of the Law might have been profecuted in Britain ; and Offenders agalnft it might have been purfued into their very Harbours : But ftill the Grants of Jurifdidtion and of Cuftoms which had been annexed to the Lordfhip, would have always obftrU(fted the Effeft of fuch Laws ; under their Shelter open Warehoufes of contraband Goods might have been freely kept, and Criminals would have found an Afylumj that Mifchief could be effedlually cured only by pUrchafmg fiich of the Rights of the Lbrd as interfered with the Authority of the Crown over the Inhabitants of the Ifland : A Contrad was therefore made in 1764 for that Pu'rpoffe, and the Ifle, the Regalities, Fran- phifes, and Sea Ports, were annexed to the Crawn, on Payment of Ri Vr [ S7 ] 70,000/. a Price cei-talnly not extravogant, if the Produce only of the Culloms there> which amount to biitwecn five and fix thoufand Pounds />^r l L'fi' iiU- u-J Sf^'SS * One percent. 1,800,00© E!xchcquer Bill S' for? nine Months ^ ^3ioo One per cent, on ^1,750,000 Loan on Land. and ) Malt for Ji Year " i t>woV.' «>«d d much fo, that upon thei Purchafe of that Ifland, it was neceflary to provide that the African Trade fhould not be deprived of the Supply, and Authority was therefore given to the Lords of the Treafury to licence the Importation- of them fromi any Country in Europe, if fufficient fhould not be imported dircdtly from India: Atprefent the Company can- not furnifti fufficient > they have had no Encouragement to bring* them lately ; but being reftored to the Market, they will take Care conftanJly to make a Provifion equal to the Demand,, and K ■ ■' • to. \i 'f to have the Whole Benefit of this AcceiTion to their Commerce, A like Attention was fhewri to the yifrican Trade in the Ar- ticle alfo of Bugles, by allowing them to be warehoufed free of Duty, initead of exading the whole Duty on the Importation, and returning it afterwards in Drawbacks ; Thefe together with the coarfe printed Callicoes, Cowries, and Arangoes, may from hence-forward be attainable upon as cafy Terms here as any where elfe : The Inducements to bring in fuch Commodities clandeftinely are taken away } and Ships failing to the Coaft of Africa will no longer be tempted to touch in Holland or other Countries for a Supply, the Confcquence of which Deviation moft frequently was, that they took in alfo Gun-powder, Spirits, and other Aflbrtments of Goods, and made up a great Part of their Cargoes there : The African Trade will be therefore more our own than it has been j it is in itfelf greater than it was by the Acquifition of Senegal ; and a further very liberal Plan was adopted in 1765 for improving all its Advantages. The Com- mittee of Merchants who had the Management of the Whole, were diveftec* of that Part of the Coaft which lies between the Port of Sallee and Cape Rouge: The reft was. left to them ftrengthened in their Hands by building a Block-houfe at the important Point of Cape Appoknia : That which was taken from them was vefted in the Crown ; a civil EftabUfhment was form- ed, with jurifdiifUon between the Rivers Senegal and Gambia j the Duties upon Gum are a Fund for fupporting it ; a regular Military Force is to be maintained there ; and all the Securities againft domeftic Oppreilion or foreign Invafion, all the Benefits, in fhort of a fettled provincial Government, are provided for that Diftri<5t. This muft be an Encouragement to the prefent Faftories ; it will the Means of encreafing them ; it may be the Foundation of future Improvements in Power, in Commerce,- and in Settlement, to a Degree, perhaps, of Colonization : But without carrying the Idea quite fo far, it v/ill at the leaft cer- tainly give Stability, Order and Credit, to the Britijh Trade upon the Coaft, and make our Eftablifliments fuperior in Strength, Extent, and Influence, to thofe of any other Euro- pean rower. But f}' it le in I 69 J But of all the Meafures which were purf'icd for the Benefit of Trade, thofe were by far the moft importani; which refpeited the Colonies, who have been of late the Darling Objedt of their Mother Country's Care: We arc not yet recovered from a War undertaken folely for their Protedioii: Every Object for whic|i h was begun, is accompliflied j and ftill greater are obtained than at firll were even thought of ; but whatever may be the Value of the Acquifitions in America, the immediate Benefit of them is to the Colonies ; and this Country feels it only in their Profperity; for though the Acceflions of Trade and of Ter- ritory which were obtained by the Peace, are fo many Additions to the Empire and the Commerce of Great Britain at large, yet they principally affedt that Part of her Dominions, and that Branen of her Trade, to vyhich they immediately relate. To improve thefe Advantages, and to forward ftill further the pe- culiar Interefts of the Colonies, was the chief Aim of the Ad*- miniftration in the Period now before me. Their Whale- Fifliery was encouraged by taking off the heavy Duty under which it laboured; in confecjwence of which G.atuity it muft now foon entirely overpower our own, and will probably rival that of the Dutch ; fo as to fupply not only the whole Demand of this Country, but Part alfo of the foregnConfumption. The Reftraint laid by the Ad;s of Navigation upon the Exportation of Rice, was at the fame Time relaxedj and Liberty given to both the Caro/i/jas sind to Georgia, to carry it to foreign Planta- tions, where large Cargoes may be annually difpofed of. The Culture of Hemp and Flax in America was promoted by Boun- ties ; and another Bounty was given upon the native wild Pro- duce fef the Continent, the Timber, in fuch Proportions on the feveral Species of it, as will enable the Colopifts to bring vaft Quantities hither. Should the Ends intended by all this Libe- rality be anfwered, and the Effed: be, as in Time it probably will be, that the foreign Plantations will be fupplied wholly with Rice, and this Ifland in a great Meafure with Whale Bone and Oil, with Hemp, Flax, and Timber, from the Colonies, the Encreafe of their Trade will exceed the moft fanguine Ex- pectations : The Confumption of thefe Commodiiics which they K 2 may h I 4 #4l ^ ' V" Ivl MMi [ 70 ] tnay be able to-furnlfli cannot be eftimated at lefs than a Mil- lion a Year : In all they will undoubtedly have a Preference, and in fome a Monopoly. At the fame Time that new Branches of Commerce were thus given to them, others which they had before were impro- ved. The Prohibition on the Exportation of American Bar Iron from this Kingdom was taken away by an Aft pafled in 1765. By the fame Aft the Importer of Rice intended only to be re- •exportedi is excufe'd from advancing the Duties : The Eiirou- ragement given to the Culture of C ofFee in the Plantations, by reducing the Duty thereon below that charged on other Coffee , has been taken Notice of before ; and a ftill further Preference was fhewn to the Produce of our JVeJi- Indian Colonies, by lay- ing heavy Impofitions upon the Ihdigd, Coifee, Sugar, andMe- lalTes of the foreign Ifland? importedinto North AmericOt while the fame Conimodities raifed in our own, were lightly charged at the moft, and fome of them entirely free. It is alfo of ge- neral commercial Utility that the Fees 6f Cuftom-houfe Ofli- cers fhould bie fixed j and that Correfpondence by Letters fhould be frequent, fafe, and eafy : and for both thefe, fo far as the Colonies were concerned in them, particular Provifions were made by the Afts fo often referred to. V"-' ^\ , iT J^,. > -• Whatever maybe tjbe Effefts of the Attehtiori thus (hewn to' the Colonies, the Benefit will be partially felt here, but prin- cipally there : To them the Whole is gain j we on the contrray In inany Refpefts fuftain a Lofs ;. and if the Interefts of the Mother Country could be diftinguiflied from thofe of the Co- lonies, it wduld be difficult to juftify the Expence fhe has thereby incurred J for out of her Revenues, the Bounties upon ^emp, Flax, and Timber muft be paid j and on fo much of the Britijh Confumptipn as fhall in confequence of this Encourage- ment be fupplied from ^wfr/ftf, there will be a furth(;r Lofs of the Duties upon foreign Hemp, Flax, and Timber now im- ported here : The Duty too upon Whale Fins muft be taken into the Account, which is another Deduftion, avowedly made Vvith a View to give their Fifliery a Preference even to our own ^ '' *•- ■■• ••,'•::-•-•-,.., - and y m [ 7' ] and it is obvious that the Amount of the Whole, though it cannot eafily be eftimated, muft be very con fiderable. Were there no other Ground to require a Revenue from the Colonies, then as a Return for thefe Obligations, it would alone be a fufiicient Foundation : Add to thefe the Advantages obtain- ed for them by the Peace j add the Debt incurred 'j^ i War undertaken for their Defence only ; the Diftrefs thereby brought upon the Finances, upon the Credit both publick and private, upon the Trade, and upon the People of this Country; and it muft be acknowledged that no Time was ever fo feafonable for claiming their Alfiltance. The Diftribution is too unequal, of Benefits only to the Colonies, and of all the Burthens upon the Mother Country j and yet no more was defired, than that they fhould contribute to the Prefervation of the Advantages they have received, and take upon themfelves a fmall Share of the Efta- blifhment neceffary for their own Prote<5lion : Upon thefe Prin- ciples feveral new Taxes were laid upon the Colonies : Many of them were indeed, as I have already fhewn, rather Regulations of Trade than Funds of Revenue : But fome were intended to an- fwer both Purpofes : In others the Produce was the principal Obje(fl ; and yet even the moft produ(ftIve of all, were of that Kind which is perhaps more tender of Trade than any other : The fame Sum could not have been raifed with fo little Oppref- fion by Impoft as by Stamp Duties *, for they do not aft'edl fome Articles of Commerce more than others j they do not even fall upon Men of any particular Denomination : They are heavy upon none, becaufe they are paid only occafionally ; and they are colleded with more Eafe to the Subjed than any ; but a Diftindion between internal and external Taxes was fet up in America, and Occafion was from thence taken to railc Diftur- bances there, the Partis, -lars and the Confequences of which are of fuch public Notoriety, that it is needlefs to mention them : The Events too were fubfequent to the Period I am now conli- dering j and many of the Queftions which they gave rife to, * It is itnpoflible to fpeakwith Certainty of the Produce of any of the ytmirican Taxes : I have therefore throughout followed the ufual Calculation, and eftimated the Imppft Duties at 60^000/. and the Stamp Duties at 100,060/. f(r ann. ' being I [ 72 ] being cither legal or political, it d,oc3 not belong to a Work of this Kind to dilcufs them. But fuph Confiderations of Finance and of Commerce, as were or ought to have been attended to before any Impofitions were laid in America, arc immediately within my Subjedl : 1 (hall not however dwell upon thofe which related to the btamp A(ft alone, the Repeal of that Ad: having put an End to them ; but whether or how far the Colonies ought to be taxed for the Purpofes of Revenue, is ftill as it wa« then, a very weighty Confideration, and it will therefore be ne- celTary to take fome Notice of the Arguments on either Side of fo important a Queftion, '. The Inability of the Colonies, and particularly of thofe upon the Continent, has been pleaded in a Variety of Shapes ; though the Inhabitants of North America are reckoned by fome to be near 2,000,000 of People, and allowed by all to be 1,500,000 at the leaft. Taking then the lowed Computation, and fuppofing that 100,000/. had been levied upon them, fuch a Sum on fuch a Number could not be an infupportable Burthen i a Capitation Tax of One Shilling and Four-pence per Head would roife as much J lefs than a Day's Labour would provide every Man with his Quota j and the Djftribution muft be perverfly partial, to make that oppreffive, which if equally divided would have been fo inconfiderable : With refped to the Iflands they could well have born their Share, for the Weft-Indians exceed the North- Americans in Wealth, as much as they fall iliort of them in Numbers. But the Colonies, it is faid, were not before free from Taxes, as they always provided for their own domeftic Eftablifliments j and does not Great Britain maintain her domeftic Eftablifliments alfo ? Nor can fuch Charges in a remote Province ever bear any Proportion to thofe of the Mother Country, which is the Seat of a mighty Empire, and fupporta the State of Monarchy, the Splendor of a Coui:t, the Luilre of Nobility, the Dignity of Magiftratcs, and the Importance of Office, amidft the Profur. lion of a Capital. The Eftabliftiments of all the Colonies at prefent, do not together amount to 160,000/. per ann. adding therefore to thofe the new Duties, ftill the Sum to be raifed an- nually [ 73 ] , nually In the Plantations would have been little more liian 300,000/. while the Revenue of this Country exceeds io,coo,coo/. per ann. The Intereft of the Debt incurred during the laft War by the North American Colonies, is not included in an Account of their permanent income, becaufe the Debt is fmall, and will be of very ftiort Duration. At the End of the War it was between 2,500,000 and 2,600,000/. It is already reduced to about 767,000/. and the greater Part of this Remainder will be paid off in two or three Years, by Funds provided for that Purpofe : But our appropriated Funds are rivetted down on our Pofterity : Savings of Intereft give no Relaxation of Taxes : They are ftill wanted to difcharge the Principal i and we do not fee the Prof- pedl, even in a diftant and uncertain Futurity, of a Reduc- tion at all proportionable to that which has been already made in the Colonies : So different are the Circumftances of their Debt and ours ; and as to the amount of each, the Compari- fon would be ridiculous between the National Debt, and 767,000/. daily dwindling into nothing : Or if the Confideration be li- mited to the Expences only of the laft War, and their and our Debt thus contraded in a common Caufe put together, the general Burthen, even in this confined View of it, appears to be unequally divided, r:i ...^ - : - ' .' . <•; But it was never intended to impofe on them any Share of the National Debt : They were never called upon to defray any Part of our domeftic civil Expences : The Legidature only re- quired of them to contribute to the Support of thofe Efta- blifliments, which are equally interefting to all the Subjeds of Great Britain. The Charge of the Navy, Army, and Ordnance, oi Africa y znd of America, is dhoxit 2*000,0001. per ann. Thefe furely are general -, they are as important to the Colonies as to the Mother Countj-y ; as neceflary to their Protection, as con- ducive to their Welfare, as to our own : If all ftiare the Benefit, they fhould alfo fhare the Burthen ; the Whole ought not to be born by a Part : The Americans ire in Number a Fifth of the Britifli Subjects ; yet the Aid required of them was in the Pro- ^' <■ :. i • -, .?.w u. I '^ U::!J; ;: J.'V ^' ^ portion 1] [ 74 ] portion only of about one in twenty ; and to make it ftill more t-afy, the Expenditure was rtdraintd to that Country. In anfwer to this it has been alledgcd.that xhcj'lmericans, bcfides paying a Duty on the foreign Commodities with which they are fuppHed from hence, contribute largely to the National Revenue by their Ccnfumption of Britijh Manufadtures, the Price of which is enhanced to them by the Taxes here ; It is true ; but if fuch Reafoning be purfued, it will be found equally true that they contribute alfo to the Revenues of France^ to thofe of Chma, and in fhort of every Country with which we have any commercial Communication. Thofe Countries likewife may be faid to bear a Part of our Charges, for they buy our Commodi- dities J and it muft at the leall be acknowledged, that Great Britain makes an ample Return to the Colonies in the Ccnfump- tion of their Produce, with tl Jvanced Price upon it, which their provincial Impofitions occaiion. Could the Fadts be afcer- tained, perhaps it would appear that we pay in this Manner, if not an equal Sum, yet as large a Proportion of their Taxes, as they pay of ours j Far their Contribution arifes chiefly from the Britijh Manufadures, and but little from the foreign Com- modities, which are, however, a third Part of their Supply : While our Contribution is oh the American Produce, which is the greater Part of their Return : But the DifcufTion is intricate, unfatisfadory, and endlefs, and without entering further into it, thus much is evident already, that the Benefits which the Revenue of either Country receives from the Confumption of the other, are mutual j that the Ballanc e between them is un- known ; and that therefore neither Side can avail itfelf of any important Conclyfion to be drawn from Premifes fo very xxxi- certain..i^^^v»''"5 .■ v^^vv • > ■ When thefe Confiderations of Revenue fail, others refpe<^- ing Trade are urged : We have their All, they fay j all that they can gain, all that they can raife is fent hither, to purchafe Britijh Manufaftures, and we muft therefore be content to fee their Demand diminished, by fo much as any Revenue we re- quire may amount to : But does their All really even center in Great Britain ? Their illicit Trade was computed during the lail [75 ] laft Peace to be about a Third of their aiflual Imports ; and the Money diverted from that to the Support of the EftabHfli- ment, is certainly no national Lofs : Of the Supply from hence, a Third is alfo fuppofed to he in foreign Commodities j fo that upon thefe Calculations *, .'he Britifh Manufadlur.s do not amount in Value to one Half of the American Confumption ; and the utmoft Force therefore of the Argument is, that vvc lofe a Vent for 80,000/. worth of Manufactures, by getting an Acccffion of 160,000/. to the Revenue Even this is not true if the Revenue be fo much wanted, that unlcfs it is raifed in America, Great Britain muft furnifli it ; for no large Funds can be created here, which will not affedt our Manufadlurrs ; the Home Confumption, the foreign Demand, even the American Supply will be thereby leflened ; and the Diminution being ge- neral, it may amount in the Whole to a greater Lofs than can be apprehended from an American Taxation ; all fuch Argu- ments prove too much j they are as ftrong againft feveral Du- ties here; againft any additional Duties; againft Duties already liibfifting ; for the Propofition is generally true, that Taxes are detrimental to Trade and Manufa> l^~ Wu wuiv ^:\^ [ 78 I all thie Clamour which has been raifed about it, the very fame Provifion is. made, and the fame Expreflions ufed, in the two; Acts piffed <1uring the laft Seffion, for altering the Duties, and- for opening Free-Ports in the Plantations ; and I will venture to fay, that in every Revenue Law for America^, fomc fimilar Claufe muft be indited ; for the whole Purport of it is only tO' fix an equal Standard, not varying as Currencies may vary in different Colonics j but had the Claufe flopped here, the Du- ties mull have been paid at the P ate of 5^;. 2d. the Ounce, for that is the Sterling Value ; the fublequent Words are therefore added in order to give an Indulgence to the Colonies of Four- pence in every fiv ?»'!•' rchandize imported there, were their only poflible Supply : There only, or by Ex- portaton from thence, could they find a Vent ior fo much of their own Produce as they wifhed to difpofeof; and they were thus by their Situation alone the Means by wl.ich Induftry, Na- vigation, and Revenue, were fupported, Upon^ their Migra- tion,, ^ tt Pi' ^ V I 'So 3 tion, this Neceflity«ceafed : They might then f'lpply themft' ^ from other Places j and give to Foreigners the Carriage, the Lie, and the Advantage of their Produce. To prevent fuch a Perver- fion, the Afts of Trade confine them in feveral Refpeds, and to a certain Degree, only to the fame Circumftanc^? in which their Fellow Subjedts continue ; and compel them by Law to be as ferviceable to their Country, as they were before obliged to be by Situation. Jind that exclufive Trade with their Colo- nies, wh'ch is claimed with more or lefs Rigour by all the Eu- ropean Powers, is not an injurious Monopoly eftabliflied by Force; Vdt is a due Exercife of that indifputable Rigiit which every £tate, in Exclufion of all others, has to the Services of its own Subjedts. Nor was the Exercife of it ever fuf pofed to im- ply an Exemption from Taxes : The Fadt has been otherwife from the Beginning. The 15th C//. II. flridly forbids the Im- portation of any European Goods into the Colonies except ft om Great Britain i and all fuch Goods thereby became liable to the half Subfidy retained on Foreign Merchandize exported from hence ; which Merchandize, if confumed here, was in general charged at that Time with no more than the whole of that Sub- fidy. The Intercourfe however hetween our own Colonies be- ing diredl, and the Produce rtf the one when introduced into the other thereby eicaping all Cuftoms, a fim.iiar Charge v.as kid •ipon that alfo by 25th C/;. II. and the moft valuable ^w^r/f^w Produdions were fubjefted to the enumerated Duties, on their Expdrtation from the Places of their Growth to other Colonies. By 7th and 8th, fF. III. all the Cuftom-houfe Laws were ex- tended to the Plantations. By 9th jinn, thofe of the Pofl-Of- ficc were like wife eilabliflved there, accompanied with the ma- ny Prohibitions, which are necelTary to fecure to Government the exclufive Carriage of Letters, and then chargirig that Con- veyance avowedly for the Purpofe of Revenue. By 7th G. I. the JmportAtion of Ea/i-InJian as before of European Goods into the Colojiies, except from Great Britain, was prohibited, and theie alfo thereby incurred the Duties retained on the Exporta- tion of them. By 2d G. II. the American Seamen were taxed for the Suppoh of Greenwich Hofpital, and by 6th G. II. the Produce [ 8i ] produce of Foreign Plantations imported into our own tf^s 1< id- ed with heavy Duties. Prom this Enumeration it appears, that there never was an Idea ofexempting the Colonies : On the con- trary, Reftraints upon their T'rade, and Taxes on their Con- fumption, have always gone together : And together compofe the Syftem, by which they Iiave been conftantjy and happily go- verned. It js is true that theic Duties were low : So Wefe the Taxes in Great Britain, when thefe were laid ; and light as iLty may feem at this Time, they were then heavier upon the Colo- nies, and nearer in Proportion to fuch as were then levied licre, than much higher Duties are now. Our Taxes hfiv^ been fince encreafed many-fold : Their Abilities have been enlargjid ftili fafter: And the great Augmentation of both \yas made by the laft War : Our Debt is thereby almoft doubled : our Eftablifh- ment is now much greater than it was ; and their Trade and their Territory are at the fame Time vaitlv extended. The Pro- portion between the public l.'urthens on the Mother-country and the Colonies, as divided when they were in their Infancy, is en- tirely loft: And to reftore that Proportion, and again to make fomething hke a Partition of thofe Burthens, is no more than maintaining the Syftem,- upon which we have always a<^ed, and to which I own I am partial, becaufe the Colonies have ftourifh- ed under it beyond all Exam,ple in Hiftory, an4 I, cannot prefer vifionary fpeculations and novel Dodtrines to luch an fixperiencci The Britijh Subjedis in AfJicridi are a great commercial People ; Perhaps, (if this were a Time for the Difcuffion,) it might up- on Examination appear, that they owe their Greatnefs to the ve- ry Laws they complain of: But fuppoling the Reverfe, and ad- mitting that if thefe Afts had not interfered, their Commerce would have been more extenfive than it is : Can it be a Princi- ple that no Country ought ever to be taxed, whofe Trade is not carried fo far as it might be? Or if Reftraints upon 't'rade be alone a Reafon againft Taxing, is it material by wh? " ^e^ns thofe Reftraints are impofed ^ Surely the Confequence; are the fame, whether a prohibitory Law, the Situation of the ConnXiy, or any other Circumftance be the Caufe : And in this Lig!' t ma- ny Inland Counties of this Ifland have a better Claim to an Ex- emption I rr [ 82 ] tmptlon than the Colonies : Even the Inhabitants of Great Bri' ,tain at large have as good a Title: Far no Reftraint upon Trade is more fevere or more efFe<9:ual, than Accumulation of Taxes { they are oppreflive upon all Branches of Commerce* and fatal to many j we are a for 2 \ Years — — J 45»56i 29,21 J 139*342 4,898 7 12 d. I of 6 4 14 9^ Navy Annuities froia 29th September 1765, 1 g g ^ to 25th December 7i M 2 227,722 15 ii ' The hP k [ 86 ] The Ainounl on this State of them is lefs by near 10,000/. than it was in the preceding Year j and if the Chrillmas Quarter of the Navy Annuities advanced to compleat the Payment of 25 per cent, upon them, be dedudted, as being no Part of the Charge upon the Sinking Fund for 1765, the Account of which is doled in OSlober ; then the Difference in the Deficiencies of Funds between the laft and the preceding Year, is above 18,000/. owing principally to the encreafed Produce of the Cyder Tax ; and that Duty would have continued, as I have already obferved, to be upon an Average a much more efficient Fund than it was at firft : But it is repealed ; and others lefs productive are fubftituted in its Head, as I fhall have Occafion to fliew more at large hereafter. The faving on the Head of Deficiencies by the Payment above- mentioned of 25 ^fr f^«/. on the Navy Annuities, will however appear in the next Account : And that wife Plan for reducing tr-.e Funded Debt, has been followed exadlly this Year, a further Surn of 870,888/. 5/. ^d.\y being given for that Purpofe : In- cluding this, the Account of Debt funded and unfunded which has been difcharged and provided for in the Supplies for 1766, ftands thus : . ■• • . Mifcellaneous Gnman Demands — Reafonable Succour to the Landgrave o^Heffcy Navy Debt — — — Army Extraordinaries — — Ordnance Extraordinaries — — Deficiencies of Grants ■— — Deficiencies of Funds '^'"S' " — — Towards paying off Navy Annuities Nova Scotia Debt — —— Jntereft of Bank Exchequer Bills — io6^( 043 50000 1,200,000 479,088 35»o6i 292,828 227,722 870,888 8,co8 5'»763 $. 13 o 10 6 o 15 5 12 d. 8i o o 6f 2 li 7 o Total Debt difcharged and provided for * 3,321,404 3 11 * The Articles provided for cannot in this Account be feparattd from thofe dif- charged : But the Amount of them may be afcertaincd : As the Loan this Year is fcr 1,500,000/. fo much of the Total 3,321,404/. 3J. 1 i' \\ ■<*. ;\ ^. >. ■•».'•.. - 5*250 o Wejl Florida - - > ; .••; . 5*300 o o General Surveys of -^/w^r/ftf - *- •» ,': ,1*784 4 Q To the African Committee - - 13,000 o o For the civil Eftablifliment on the Coaft of -<^/r■ r / ^* • 33*892 10 p .'■'X\':. 225,628 ly 5 In almoft every Article of this Account which could be al- tered, an Alteration has been made for th^ worfe : The Militia and the African Committee are fettled Services, and remain as they were : The Diminution in the Expence of the Foundling Hofpital is in confequence of the Meafures taken formerly for get- ting rid of it entirely : And the only Savings are in that and in the civil Eftablifliment of Nova Scotia : On every other Head there is an Increafe ; and Room has been found for fbme poor defpicable Pittance of Extravagance in Services which would not admit of a large Augmentation j the Amount of jnany fuch is not indeed very great ; but when this Difpofition to fwell the national Expence pervades every Branch of the fupply, it is an alarming Symptom of a general Relaxation in the whole Syftem, and every Demand, every Pretence, becomes the Foundation of a Charge upon the Publick. The feveral Additions to the Efta- blifhment a^lually voted in fpecific Sums, amount to no lefs all together than g^^^jol. 6s. 4^. And in other Articles of annual Expence which cannot be exatSly defined, fuch as the Navy Debt and the Extraordinaries of the Army, inftead of Attention and Stridtnefs, Negledt and Conceflion have prevailed : The Funds will be lefs produdive than they were; in confe- * I havo throughout flated the Militia at the ShiA voted for it, which is the only Rule for me to go by : Though the Expence of that Corps is probably not the fame as it thus appears to be : Hut it cannot be alcertained till a compleat Ac- count is made our, which has not }et been done. quence a IS g n d ir »t s c n i> )f s ft ; t 91 ] •fluence of the Repeal of the Cyder Tax j and a Redudllon in the Deficiency jf the Land and Malt by a Reduftion of the Land- Tax, is poft-poned to that very diftant Day, when the Revenue thus over-charged, and at the lame Time, as will prefently ap- pear, miferably impaired, will allow of fo great a Diminution. Againft this Wafte of the publick Treafure, it is ridiculous to fet in Balance the fingle faving made this Year in the whole Efta- blifhment ; there is but one ; and that is of only 45/. i is. 6d. m the Civil Government of Nova Scotia. Another indeed was attempted in the Militia: There was an Inclination to be fparing of the public Money for the fupport of that conrtitutional Corps, which would have been weakened and difcouraged by the intended Redudlion of Serjeants, and by depriving the Men of the Perquifite of their Cloathing : But this Attempt happily failed : And in no other Infcance did the Minifters lall Seflions fhew any Symptom of Frugality : The Decreafe in fome Articles of the Supply being as I have already fhewn the Confequence of f jrmer Meafures, in which they can pretend to no other Merit; than the having in Contradid:ion to themfelves adopted fomc Parts of a Syftem, the whole of which they condemned. The feveral Particulars of the Supply for the year 1766 hav- ing been flated, the Account of the whole flands thus, Debt provided for •' - Debt difcharged Exchequer Bills Deficiency of Land and Malt Navy Army - * - • • Ordnance - - Mifcellaneous Articles s. 1,500,000 1,821,404 1,800,000 360,000 1,522,283 1,275,281 180,445 225,628 3 o o 6 4 19 17 d. o III o o 3 3t 3 5 • • • Total 8,685,043 II 14. If from this profufe Supply we turn our Eyes to the Revenues which are to fupport it, we (hall not only mifs the Improvements which are due, but fee eftabliftied Funds diminiftied, and further Refources prevented : The Ways and Means for the prefent Year contain fome Inilances, and lead the Enquiry to others : I will N therefore 11 Iff. >£■ ti f 92 ] fhereforc endeavour firft to give a State of them, and according: to the beft Information I can procure^ they are as follow. Land and Malt — — — »— . 2-, 750,000 Kxchequer Bills ■■ ■- ' — — J-, 800,000 Militia Money — — — 8o,ooO Part of the Compofition for French Prifoncrs — 181 ,000 Army Savings Money remaining of the laft Year's Grant for /Ifrican ) Companies ■ 3 Ditto of the laft Grant for the Foundling Hofpital j^merican Revenues •— — • Duties on Gum Senega ^—— — Out of the Produce of the French Prizes — From the Sale of Land in the ceded Iflands — Annuidcs and Lottery 74.777 1,167 s. o o o o H d. o o o o o 14 loi Sinking Fund gived for 60,000 12,000 29,000 20,000 1,500,000 2,150,000 10 o o o o o o o c o O' o o o Total 8, t»6o, 2 66 18 lo* The Land and Malt, the Exchequer Bills, and the Militia Money, require no particular Notice J the Duties on Gum Senega are not liable this Year to the Difappointment of the laft. The Sav- ings on the African Companies, and on the Foundling Hofpital; Accounts, are but Overplus of the Grants for thofe Services in 1765. The Army Savings are only upon the Pay ; and the Pro- duce of the French Prizes was before in a Courfe of legal Pro- ceeding ; none of the Money expeded from thence was paid in- laft Year ; the Deficiency thereby occafioned is provided for in- the Deficiencies of Grants : But a Part now atflually has been, ot at leaft is ready to be paid : And therefore 29,000/. is taken again on that Head in the Ways and Means for the prefent Year. The Compofition of French Prifoners, and the Sale of Lands in the ceded iflands, were Meafures of the former Miniftry ; and the Publick therefore avails itfelf of thofe Aids now without any Obligation to their Succeflbrs : But it refts upon them to fhew why more is not on both Accounts applied to the Service. The Compofition made in 1765 did not include the Prifoners taken in the Eali-Indies or in Germany ; yet the Demands for thefe do not appeaf to have beei) either of them fince fettled ; and there is too mnch Reafon to doubt, that as that was I believe the firft. V«->i-w. _^. 1 1 %. \ I 93 1 lb it will be the laft In fiance of Money recovered from Fratice by this Country. With Ilefpeft to the Produce of the Lands ia the ceded Iflands, the firft Sale which was held about Twelve Months ago, produced above 127,000/. There has by this Time been another : Upon both, the Purchafers pay 20 per cent, at the Time of Sale ; and 10 per cent, within the Year; 30 per €ent. therefore muft have been received on the Firft, and 20 on the Second j and the Expences of the Conimiflion cannot be fo great as to reduce thefe Inftalments to 20,000/. at which Sum they are computed. The Loan of this Year agrees with that of the laft only in the Amount : But the Terms upon whicii it is made are much v/orfe ; and the Duties which compofe the Fund are far more burthen- fome. The Plan of it is indeed taken from the former omitting the Option of Survivorfliips : Three-fifths therefore are in re- deemable Annuities, and Two-fifths in a Lottery, all at 3 per cent, but the Circumftances of the Publick are better now than they were then, and it is on them that the Merit of a Bargain in or not : by which Concurrence of Charges, the Intereft upon the Sum of 1,500,000/. will at the End of the Year amount to to 63,4.06/. \-js. td^\ whereas on the fame Sum laft Year it was no more than 48,750, becauie then the 4 /"^r Cr;//. ceafcd and tlie 3 per cent, commenced on the fame Day. The Difference of 14,656/. 17J. bdJf is an unneceffary Expence to the Public, when •a Diminution rather than an Increafe of the Charge might have been expected : And it is at the fame Time an additional Profit to tlie Subfcribers of very near i percent, which with the Advan-' N 2 tags -J —iJlV: [ 54 ] ii I tage ahove-mentioncd'of if, makes their Bargain abore 2 /?f f^fi^. better than that of 1 aft Year, cxclufive of the Facilities which the Lightnefs and the Diftance of the Payments gives them, and which the Nature of t^.e former Subfeription of Navy Bills would rot admit of: The whimfical Miftakcs of fixing the fccond Pay- ment on a Sunday, and the firft Payments on the Annuities and on the Lottery upon different Days, have indeed thrown this Part of the Scheme into fome Perplexity J hut ftill the Conve- nience is confiderable, and the othfjr Profits are thereby both encrcafcd and fecured. In Anfwer to all this, it is faid, that the Terms of the former Loan were too hard, fo that the Subfcri- bers loft by it : A Charge indeed of no great Weight, as th» making of loo good a Bargain for the Publick is not a very com- mon or a very heinous Offtnce, and in this Inftance it cannot be univerfally true j becaufe the Subfcrioe/s were exadlly even who fold their Tickets for 1 1/. igs. and Tickets were before the. Drawing at all Prices between u/. 12s. td. and 12/. 10/. td. if all therefore had been difpofed of at the loweft Price, the Sub- fcribers would have loft no more than v^ per cent.; but now, without taking the Profits made by thofe who fold at the higher Prices into Confideration, and only becaufe fome might lofc i ^ per cent. ; an Advantge of above two per cent, is given to all the Subfcribers of this Year over thofe of the laft : And for that Purpofe the Public is put to an extraordinary Expence of near 1 5,000/. in borrowing the fame Sum, with equal Aid in both Cafes from a Lottery, and when the State of the Finances and of the Stocks were far more favourable to fuch an Operation at the one Time than at the other. The Difference between the two Tranfa<^ions appears ftill more confpicuoufiy upon comparing the Funds created on each Oc- cafion : The Duties which compofed the Fund of laft Year have been already Ihewn to fall chiefly upon Foreigners, to be rather beneficial than detrimental to Trade, and there has not been a Surmife of their being deficient, when they ftiall have fully taken Place : but the additional Tax upon Windows is an Impofition upon thofe who had a better Claim than any others to an Exemp-^ tion from further Burthens, and the Produce will certainly be greatly Ihort of the Annuities charged upon it : To prove this and [ 95 J iiid to prepare the Way for fuch other Obfervations as the fub- jedt fuggefts, I will firft (hew in one View the Number of Houfes and of Windows, and the Amount of the Duties upon each, both before and fince the paffing of the A(ft of this Seflions, The following is a State of them. Chiri;eu' Chirge It ? .5 Chirge urderl Number dsrthefar preleni 1 .! Che former iChirge at pre Kiimbrr of of Win- mer AAi .er Win Afii ret font per Encicafr. Huvfei. dow! pe> Houfe. per Win dow. p !.■ Houfe. Houfe. dow. t. d • . d. d. 4. 1. •. d. 1. t. d. i. d. 400,273 7 2 2 000 12 I 2 9.336 8 Z 6 6 080 040 29.37« 9 I 8 4 090 6 15,564 10 I 10 2 10 8 4 4*^'247 11 I 1 , II II 6.358 12 ' 6 I 2 4 18 14 9.230 '3: 1 6 « 4 2 19 6 17 4 25,3^4 14. I 6 I 6 c II r; I 6,994 15 1 6 I 6 I 2 6 126 6,951 16 I 6 1 6 I 4 .1 4. 7.'59 »7 1 6 I 6 ' 5 6 1 5 6 8,070 18 1 6 I 6 I 7 I 7" H1213 »9 1 6 I 6: 186 I 8 6 4.'35 20 I. 6 .» 7 1 I 10 i.ii< 8 I- 8. 3,262 2'1 I 6 I 8 2 I II 6 I 15 3 6 3,100 22 I 6 I 9 3 I 13 I 18 6 5 t 2.9S» 23 I 6 I 10 4 I 14 6 222 7 8 3,091 • 24 ' I 6 I II 5 I 16 260 10 2.964 25 1 6 X 6 I 17 6 2 10 12 6 Decruf*. d. O 4 3' 8 o o 2' O ■ o o- o o o o o o> o o The Number of Houfes having 26 Windows and upwards does.- not appear: But the Number of Windows in fuch Houfes is known to be 1,340,292 which are all raifed alike to 2s. from u. 6d. ^fr Window :, In Houfes below that Point, the Rates generally vary accot ding to the Number of Windows, and there* fore in moft of them the flopping up of one Window will be the Means not only of faving the Duty upoij that one, but alfo of lowering the Rate upon all the others : The Temptation has been found to be irrefiftable upon every additional Window Tax, wherever the Line has been drawn, thofe immediately above have endeavoured to get below it ; and this is the Reafon that the Houfes containing feveo, nine, eleven, fourteen and nineteen Win- dows are fo much more numerous than thofe of eight, ten, twelve, fifteen. ? \ f ■ fi i u { 96 ] fifteen, and twenty, the Lines having been drawn at different Periods between thofe feveral Numbers : But by 2d G. III. this Muhiplicity of Divifions wac taken away, and only one left be- tween Houfes of eleven and of twelve Windows, all below pay- ing I J-, and all above u. 6d. per Window; 7/he Difproportion therefore in the Number of Houfes on each Side of that Line is as 48,247 to 6,994 • -At ^^^ hms Time, as the Tax then flopped entirely at Houfes of eight Windows, all that could be were brought down below that Point, and therefore the Number of Houfes having feven was encreafed to 400,273. By the Adl of this Seflicns, thofe of feven are included -, the confequence of which will be that the major Part of them will be reduced to fix : And the Temptation is alfo extended to a great Variety of -Perfons, who before could not attempt to get below the only Line then drawn, and therefore could avoid the Charge only up- on fuch Windows as they doled ; but now that fourteen Claflbs are eftabliflicd inftead of two, mod of the Houfholders in Eng- land may by flopping up one Window defcend to a lower Clals, and thereby make a Saving upon all the others: Thus by fhut- ing one in ten, 3/. 8d. infleadof u. j or one in twenty-five, 4J. ■inftead of if. 6,-'ii .'. V'.n 10 J.', ir." ift< •* The Deftruf^bn in the Country muff oe greater than on this Account it jp- peari tobe j Pbrt of it being ballanced by the new Buildings in ffeftminliir which ' 1 ' I ./■ ; [98I is fuch a Symptom of DiArefs sindDepopulation,aslorequireeve T^™--. >». » I t. ^ [ 99 1 Parliament, and as fliall be paid into the faid Reccit before 5th ^pril 1767. It has been already -'^fcrvcd that above 24,000/. nett were received in America before lOth OSlober laft, exclulivc of all which might have been raifcd in the Leeward Iflands, Eaji Florida, Georgia, the Bermudas and Dominica: When the Ac- counts from thofe Places come in, the Produce of 1765 will pro- bably appear to have been about 27,000/. or 28,000/. ; of which little more than 3,000/. were applied to the Services of the Year in which they were raifed ; above 23,000/. are made over to the Ways and Means of the prefent Year, and are part of the 60,000/. above-mentioned. The reft of that Sum is at the leaft five Quar- ters further Recelt, fuppofing that none received in the Plan- tations after Chrijimas 1766, will be paid into the Exchequer be- fore 7th April 1767; the annual Produce therefore is not now eftimated at 30,000/. which is little more than w^s raifcd by the import Duties in the firft Year, which is always deficient ;* and there can be no Reafon for rtating them fo low now, unlefs on a Suppofition that they will be diminiftied by the Alterations made in them : A Suppofition, which however denied in Words is by this Ertimate in reality avowed, and which will be eafily account- ed for by confidering thofe Alterations : The principal ReduJl» Indians urged an Impofition of 4 ■ : . -• ' tages ISf.: #/ ». ^ [ 101 ] tages over them in the Sale, by having more Markets open to them : To rcdify (o undue a Preference, a Bounty fhouUi be given on the one at the fame Time that the Duties are taicen off the othei : But that muft be the Work of fomc more provident Adminiftration. To compleat the State of the yimerican Revenues, the Repeal of the Stamp-A£t muft be taken into Confide nion : A Subjedt which for the Reafons I have already given I fliall not enter into : which if properly treated, would require a very large Dilcufljon i and which has been of late difcuflcd fo often ; the only Circum- ftance to be taken notice of atprcfcnt ia the Lofs of the 100,000/. defigned to be raifed by it, and which being added to the Dimi- nutions above-mentioned in the Impoft Duties, fufficicntly ac- counts for the Reduction of the American Revenues from 160,000/. which they were intended fo be, to lefs than 30,000/. per Ann. A Sum greatly ftiort of that propofed to be railed on the Inhabi- tants of this Country by the new Window Tax only, in Addition to all the former Burthens, which they have fo obediently, tho' fo hardly, and fo long born, and which they muft continue to bear. Such a Diftribution cannot be fupported on any Princi- ples of Commerce or of Policy : Glaring Inequalities not only in- difpofe the Minds of Men, but really leflcn their Powers: One Part is thereby over- whelmed, not for the Benefit of the whole; for if the Charge were juftly divided, none would be very fenfible of it : And generally not for the Benefit even of thofe who are favoured, who perhaps cannot follow the Purfuits which the others may be forced to abandon, cannot fucceed to the Labours, the Ser- vices, and the Ufefulnefs, which by the Partiality fliewn to them, are loft to their Country. In the Empire of Great Britain for Inrtance, all the Taxes fall upon that Part of her Dominions where .he Manufadurers refide, and the Markets are held : Her ftaple Commodities are loaded j all the Branches of her Trade are hurt ; and many of them ruined : The Americans cannot fup- ply the Lofs : They might indeed aflift to prevent it, by defray- ing a Part of that national Expence which occafions the Diftrefs : And in this View it appears to be a commercial Objed;, that the Burthens of a State fhould be equally fpread over all the Subjefts of it, according to their Abilities: But the laft Adminiftration entirely deferted fo wife and equitable a Syftem : They might O 2 , , have K } .« ^ ai. V [ 101 :] have rupported it, though they had given way to the Olyedions taken, whether with or without fufficient Grounds, to the Mode or the Subjects of any particular Tax j they ought to have pro- vided that their Conceffions fhould not be in effed: partial Im- munities : And when they promoted the Repeal of the moft produdtive Amencan Duties, it was incumbent particularly upon thofe to whofe Department the Management of the Finances be^- longed, to propofe others which fhould have preferved the pro- per Equality : The Colonies themfelves it has been faid always profefled that they were ready to contribute in that which they called the accuftomed Method, by Requifition of certain Sums from each Province, to be levied by their own AfTemblies j it has even bsen urged as an Objection to the Stamp- Adt, that it was chofen as a Mode to raife Money in preference to another which would have met with no Oppofition : And why is not that other fubftituted now ? It will at no Time be received fo favour- ably as when a fubfifting Charge is removed to make room for it ? If there be a Difficulty in taxing the Colonies, that Difficul- ty is encreafed by the Delay : The Americans will not be recon* conciled to the Payment of Duties, by a longer Exemption from them J nor will future Minifters ever have fuch an Opportunity of railing a Revenue there : The very Mode of Requifition which upon this Occafion has been recommendedasfomuch more eligible than the Stamp Duties, will not hereafter have the Advantages it is fuppofed to derive from the Comparifon : The Choice will not feem an Indulgence : It will be unaccompanied with any Favour : but will be confidered as a new Charge, inflead of & Relief, and be obnoxious to all the Clamour which they wiH raife whofe real Oppofition is to all Taxes upon the Colonies : Many havt been talcen off this Year ; and every Reduftion wae a Call upon Adminiftration to propofe fome other Impofitio^i : Eve- ry Deficiency which their Meafures bccafioned, demanded a Supply : And their whole Conduit with Refpedt to the Colo- nies, laid them under ftronger Obligations than ever preffed upon any other Minifters, to find the Means of raifing a Revenue in America. Another Inftance of the fame Kind, though to a lefs Extent, Was the taking off from the Cyder Counties the Share of the public Burthens which had been allotted to them, without re- placing it by any other Charge upon thofe Counties ; a Principle of *•' >A [ »03 ] of Equality firft fuggefted a Tax upon them ; for all the former Duties upon Cyder were levied on the Dealers and Retailers : The Growers and the Makers were exempted : The Revenue therefore arifing from thence was in a great Meafure paid bj the Confumers of the Commodity in Places which do not produce it : And the high Duties on Beer, on Malt, and on Hops, Ijy almoft entirely upon them : They could drink no Liquor which was not taxed j while the common Beverage in the Cyder Coun- ties was free. This Inequality had been encreafed by the Addi- tion in 1760 of a perpetual Duty of ^d. to the . lal Duty of 6d, upon Malt, and of 3/. per Barrel on ftrong Beer which was charged with jr. per Barrel before. The Sum to be raifed by thefe Duties was no lefs than the Intcrcft of 20,000,000 j any additional Load upon the Beer Counties would have been Oppref- fion : And a general Tax would have left the Inequality fubfift- ing: When therefore a further Loan of 3,500,000/. became neceflary, it was thought reafonable, that the greater Share of the new Impoiitions fhould be laid upon thofe who had contri- buted leaft to the Expences of the VVar : But ftill they were not particularly chai'ged witli fo much as one half of the Burthen : The Wine Duty bears the reft, and that is a general Tax : They were ftill greatly favoured ; for though the Cyder Counties are not equal to the Beer Counties in Number, Extent, or Abilities,, and the fame Revenue cannot therefore be expelled from them j yet the Difl^erence is not fo great as between 70,000/. which is all that the Cyder-Tax was at firft given for, and more than it ever produced i and above 830,000/. which is the Amount of the Annuities and Charges of Management to be paid by the new Duties upon Malt and Beer. But without entering into an un- certain Calculation of the Proportion they bear to each other, the Lenity ftiewn to the Cyder Counties will appear from another Mode of Comparifon : Whoever makes his own Malt is allowed to compound for the Duties at the Rate of Seven Shillings- and Six-pence for every Perfon in his Family': Whoeve"- makes his own- Cyder was allowed to compound at the Rate of Two Shillings for every Perfon above eij^ht Years old : Children under that Age are a numerous Part of the Inhabitants of the Country, and ihey were in the one Cafe excufed, while in tl^ie other,, the In- fant at the Breaft is counted : And at the fame Time the adluat Poor in the Cyder Counties, whofe Teneinents were not rated at above '^l .^VuixMl, V ti [ 104 ] above 40/, per jlun: and who did not n^ake above four Hogflieads in a Year, were excufed both from the Duty and the Compofition ; but in the Beer Counties the needieft Poverty gives no Claim to an Exemption : ' o very great is the Difference between the fup- pofed Values of the refpedlive Duties upon each Man's Confump- tion ! fo much more favourably waS the Compofition colledted on the one than on the other ! and fo very fmall a Share of the public Burthen was born by the Cyder Counties, even while the Tax fubfifted 1 now that it is repealed on Account of the * Inconveniencies attending the Mode of coUeiSting it, the for- mer Difproportion between them and the Beer Counties re- turns : For the common Beverage of the Inhabitants of the for- mer, that v/hich they grow or make themfelves, is totally ex- empted : the Duties fubftituted in the Lieu of that which is taken away, are i6j. 8^. p^r Hogftiead on all Cyder configned for Sale to a Fadlor or Agent : 3/. per Ton on all which (hall be imported, and 6s. p. r Hogfliead on all which (hall be made in Great Britain and fold by Retail, or made and fold by Dealers from Fruit of their own Growth : The firft and the laft of thefe can hardly be deemed new Duties : They are rather Provifioiis to * The Compounder was free from the Vifitation of the OfSccrs of the Excife : And therefore the Maker, unlefs he was alfo a Seller of Cyder, was not expofed to any uf thcfe Inconveniences ; but to prevent his evading the Duty due on fo much as he might thinic proper to difpofe of, he was required to give Notice of his Intention to fell, and in that Cafe only was the Excife Officer authorifed to come upon his Premifes ; but he could enter no Room befidcs that into which he w?s condu£led : He could gauge no other Caflc than that which was pointed out to him : He could on no Pretence come again till again fent for : And he was obliged to ^ive a Certificate of the VeiTels he had examined, which was a San£lion for the Removal of them. The Neccffity of procuring fuch a Certificate might Occafton fome Trouble, and Delay : Other Inconveniencies might accidentally arife : But none of them were vexatious or oppreflive : And when aggravated to the higheft, they were not nearly equal to thofe to which the Grower of Hops muft always fub- mit ; he muft give Nocice both of the Places where his Hops grow, and where they are to be cured : He muft give a fecond Notice of the Time when he intends to bag them : And his Ouft and his Storehoufes are at all Times expofed either by Night or by Day, to the Search of the OfHcer : No Compofition is allowed to (kreen him from the unwelcome Vifits of the Excifemen : VV hether he does or dof s not fell he is equally liable : All Malfters, all common Brewers, all Diftillers are in the fame or a worfe Situation : The Maker of Cyder was the only Seller of an Excifeable Liquor, who could prefcribe a Time for the Vifit, and Limits to the Examination of the Officer i and an Exciseman thus ftripped of his Power of Search, is almoft as inoiTenfive as any other Collector of the Revenue. fix ' .■!*««>•*''*^ *^ " A^iiAft''- ^eSEtii*- *i K \ [ 105 ] fix the former Duties upon thofe \yho have hitherto avoided them, becaufe not literally within the Defcription of Perfons in u'hofc Hands the Commodity was chargeable : The two others are ad- ditional Duties, and like all other additional Duties will dimi- nifli the Confumption j efpecially as the Liquor is rather a Luxu- ry than a Neceflary in thofe Countries which do not produce it j and being laid upon Cyder fold, and moft of that which is bought being for the Ufe of the Beer Counties, the Charge is transferred from the Cyder Counties to them, and the Difparity is thereby rendered greater than ever. Nor will the new Duties yield upon the whole near fo much as that which has been taken oft; which on the Experience of the two Years that it fubfiiled, mufl be reckoned 45,000/. at the leaft: Whereas of the new Duties, the 6s. per Hogftiead retailed though the moft: produdtive of them, will not at the utmofl: produce 23,000/. f for that is more than the Amount of fuch a Charge upon 76,602 Hogflieads which has been upon an Average the Number annually charged with the former Retail Duty: But that Number will be diminifhed by the Decreafe of the Confumption ; and both the new and the old Duties, will be thereby afFe by the former of which 34,835/. loj. jd.l by the latter 15,000/. * Intereft has been iaved, and both are upon exat^lly the fame Sums, in the very "fame Species of Debt, and by the fame Mode of Proceeding, as in the preceding Year. But even allowing to the laft Minifters «11 the Merit they can claim for not having deviated in thefe two Inftances from the Meafures of the former Adminiftration j and adding to fuch Savings, all that the Window Tax may produce, which cannot be a great Acceffion, though it is impoffible to fay how little it will be j yet this only proves that the Revenue which ought to have been improved by 50,000/. is worfe by near 200,000/. than it would have been in other Hands: Which is in Effe<^ the fame as a Diminution of 244,000/. ; whereas under the former Adminiftration it was vifibly encreaied above 400,000/. in two Years, which is at the Rate of above 200,000/. per Ann. fo that the Difterence between the two Adminiftrations in their Ma- nagement of the Revenue is more than 400,000/. a Year. By fo much as the Eftablilhment is encreafed, or the Income of the Public leflened, the Ability of the Sinking Fund to clear off the national Debt is impaired, as there will be fo much lefs applicable to that Purpofe, though the adlual Produce fhould con- tinue to be as great as it is : In the laft Year it exceeded what it had been in the former ; for though the difpofeable Money on 10th OSiober 1765 was no more than 1,951,769/. gs. 5 and the fubfequent Provifions vcrc made, the^ Defign was to follow them with fimllar Regu- lations of the Intercourfe between this Kingdom, and the Iflands of ferjay and Cucrrifty : No Parliamentary Interpofition was neceflary. The King in Council being vefted with fufficient Powers over thofe Pscmnants of the Dutchy of l^'ormandy: And the vaft Influx of clandeftine Importation from thence calls for the Exertion of thofe Powers : It was intended by the former Miniftry ; that Intention was declared ; and the Means of ac- complifhing it under Confideration ; but nothing has been done : And the Plan for diftreffing all illegal Importation, by taking away the Facilities which arife from the Situation of neighbour- ing Iflands, is not only left unfiniftied ; but even the Efi^eds of the Progrefs which had been made in it is to a Degree defeated, while Smuggling though lliut out at one Entrance, finds Ad- mittance at another. The Manner in which the Eftablifliment of Cutters has been treated, is another ill Omen to the Revenue : They have been reviled, ridiculed, and continued : The Expence attending them is as great as ever : The Operation of them lefs: The Minifters have acknowledged the Meafure to be right, by continuing itj but the Diflike they fliewed to it, difcouraged the Service: As the Perfons employed therein, could not hope to re- commend themfelves by ASivity, nor fear to fufFer for R.miil- nefs, in a Service, which the Adminiftration wiflied to cxpofe and to condemn. The Do<5irines too, which have been lately broached with Refpeft to the Colonies, and which portend ftill further Relaxations of the Ads of Trade, and other Diminutions of Revenue, will have a like EfFed there : All Vigour in exadt- ing Obedience to the one, and coUedling the other, muft be at an End under fuch a Syftem as the prefent : The pernicious Clan- deftine Trade which was almofl: fuppreflled, is faid to be reviving very faft : And it will encreafe, while the Execution of the Laws is attended with Dangers Infractions of them efcape with Impunity ; and the Officers of the Crown who faithfully dif- charge their Duty, are expofed to InCults, and doubtful of Sup- port. I have heard of other Inftances of Negled and Rcmiflf- nefs : But thefe are notorious, and the EffeiSs of them extcnfive. And thefe alone make the Profpedt of finding other Diminutions and [ 109 ] and Deficiencies in the Revenue, more than mcer Matter of Apprchenfion. '■ They cannot have confuhed the commercial Int^refls of thit Country, who have been thus carelefs of its Income, and prodi- gal of its Treafurcs : For Trade and Revenue arc in many Ref- peds nearly connected j and a judicious Management of the one, tends to the Improvement of the other. Difcharge oC Debt, and Reduction of Expence, prepare the Way for Alleviation of Du- ties : But lefs Debt was difcharged, and much greater Expcnces were incurred, by the laft than by the former Adminiftiation : And the late Alterations in the Revenue have been fliewn to pro- duce the fame fenfibie Effedls, as if eight Millions had been ex- pended, and the Publick were charged with the Intereft : Trade and Manufaiftures muft feel the Confequenccs : Even if the pro- curing of commercial Advantages had been the Objedl of them, thofc Advantages ought to be very great, to compcnfate for fuch LoiTes and fuch Charges incurred to obtain them ; but in fad a Very fmall part of the Whole 240,000/. has the leaft Relation to any commercial Confiderations. It is not pretended that the En- creafe in the Eftablifliment was made for fuch Purpofes : The Repeal of the Cyder Tax has as little Connexion with Trade: As to the Stamp-Adl; one of the principal Motives afligi ed for the repealing it, was to remove the Diftrefs occafioncd here, by the Reception of that Law in America j but that Diftrcfs did not arirc out of the Adt : It was owing entirely to the refradlory Spirit which had gone abroad in the Colonies; and which the Minif- try (to fay the leaft thai can be faid of them) had ncglcded to quell : No Tax was ever laid upon the Subjedl with more general Approbation ; none was ever oppofcd with lefs Reafon, or with fo much Violence : Sedition never met with fo little Refiftance from Government : And the Repeal, upon whatever Grounds it was made, was at the moft but an occafional Meafure. The on- ly Alterations therefore in the Revenue which can be claimed as general permanent Meafures for the Benefit of Trade, are the Other Redudlions of the American Duties, particularly of thofe upon Sugar, and upon Molaffcs. The taking oflf the enumerated Duty upon Sugar, leads to no great Objedt, as the Commodity has born the Burthen near a Century, and it was never fuppofed to be a very heavy Grievance. The Redudipn of the Molaffcs Duty ..«.. P 2 18 '*W' 1} i'liikt'ii.lX ,1*. K*^? [ >>o] is a more confiderable Alteration : And though Three-pence on a Gallon of Rum (for the Charge amuunted to no more) does not iecm to be an intolerable Load upon fuch a Commodity, and the EfFc(5l of it could not be th ^'•oughly known by one Year's Ex- perience only, yet as a Duty Tone Penny mull inconteft^bly be le(s inconvenient to the Trade, which the American Diftilleries fupply, the Importance and the Extent of that Trade become the principal Confiderations : And fo far as this Manufacture, (for it is an American Manufailure to which the Indulgence has been Ihewn, and fofar therefore) as it interferes with the Produce of the Dritijlj Diftillery, either on the Coart: of Africa, or in the Fifheries, it certainly ought not to be favoured ; fo far as it is fupported by Molafles purchafed with Money, or as the Con- fumption of their own Corn in the Dillilleries is prevented by the Importation of Molafles, it «s not advantageous to the Colonics : And the exceflive \](q o£ Spirits among themfelves, lias been found to be fo pernicious to the People, that the Impofition of a Duty ab the Means of checking it, has been often under Confide- ration in the very Provinces which are mod concerned in the Ma- nufadtory. That Part therefore of the Trade which does n Jt fall within any of thefe Defcriptions, is alone deferving of Encourage- ment ; and the Benefit which it is faid may arife from lowering the Duty upon that Part, is the only commercial Advantage fuppofed to be obtained, by a Diminution of 240,000/. per Arm. in the difpofcable Revenue. ^ I pafs over here the other lefs important Articles which have been mentioned before ; and to thefe mufl be added the opening of Free Ports at Jamaica and Dominica j of which little can be faid with Certainty, as it is a Conceflion which may be beneiitial or may be dangerous to Trade : I can iee Advantages arlfing from it, if proper Precautions be taken againft the Mifchiefs which may attend fuch a Relaxation of the Ads of Navigation : But I confefs myfelf not a competent Judge of the Plan which has been adopted. It is a Subject which requires the moft mature Deli- beration, much previous Enquiry, a watchful Jealonfly, and ex- tenfive Provifionc : The Miniflers themfelves once thought they were not prepared for fuch an Eflablifliment this Year : They fuddenly changed their Opinion j but I have not altered mine : I ftill wifh it had been pcilponed, till the whole Extent of the Indul- 'ij ( I [ '" ] Indulgence and all Its Confcquences could have been examinee^, and Care taken that no Detriment fhould mix itfcif with the Be- nefits propofcd to the commercial Interefts o^ Great Britain. But even fuppofing the Plan to be perfctl ; fuppofing the Repeal of the Stamp-Ad to h.ive been expedient ; and allowing all the Merit which the laft iMinifters can arrogate to themfelves from all their Meaiures: They ftill muflnot pretend to Save promoted the Intereft of the Colonics foeffentially or lo cxtcnlively as their Pre- fieceffors had promoted them : The new Funds of Wealth and of Trade which were opened by the former Adminiftration, exceed in Value all the Hopes ever entertained from the Promiles given by the latter: And the Advantages expeded from each differ fo widely in the Circumffances attending them, that if they were equal ii» amount, they would ftill not be of equal Importance : l^he for- mer are Grants: The latter are ConceHions ; and the Confc- quences mufl be very different from Beneficence and fr(>m Com- pliance. But not to dwell upon this though a material Dii^inc- tion, the Mode in which the Trade of the Colonies was encou- raged by the one Adminiftration, muft tiave far more extenfive Ef- fedts than that adopted by the other: For when Taxes are takeiv ofFmeerely that the Sum which would have been railed by them, may be thrown into Trade, the Value of that Benefit can be no more than the Amount of thofe Taxes : And therefore if I were to admit that all that vhe Revenue lofes by the Repeal of the Stamp Adt, will be applied to commercial Purpofes, the Advan- tage to Trade is but 100,000/. Whereas luch a Sum iudicioufly given in Bounties might produce Millions : In the one Cafe, the Expence and the Aequifition are exactly the lame : In the other a fmall Expence purchafes a large Aequifition : But of aM the Be- nefits done to the Colonies in 1766, none belong to the latter Dcfcription, except the Alleviation of the Molafles Duties, the Alterations made in the leller Duties, and the Eftahlil'hment of the Free Ports : Allowing again to thefe all the Effedfs which are barely poffible, ftill the warmeft Advocates- for them will not be hardy enough to compare the Returns, which by fuch Means may be made from the Colonies to this Country, with thofe which the Encouragement given by the former Adminiftration to the Fifheries, to the Culture of Rice, Hemp, and Flax, to the Sale of Timber, and to the many other Articles of American Produce, will furnifh. Befides the Objed of mofl: of thefe is to promote and If. T ) '- [n.2] and extend Cultivation, whi-^h is the proper Bufinei's of Colonies ; but the later Regulations have no fuch 'I'endency, except in ibmc fifling Particulars : On the contrary, the Alteration ot the Mo- lafl'es Duty was avowedly made for the Benefit of a Manufadure : And Manufadlures more peculiarly belong to the Mother-Coun- try: But even an Equality, which is the leaft that the BritiJJj Diftillcries are entitled to, is not fccured to them under the pre- fect very low Duty on Molafl'es : And the Preference due to the Produce of Britijh Plantations is loft, in the Molafl'es, the Cotton, and other Articles. In Addition to all thefe, another obvious Difference prefents itfelf in the Conduv.^ of the two Adminiftra- tions : The Meafures of the latter are founded almofl: entirely up- on Speculation : They have been defended upon Principles re- pugnant to thofe which have been always efteemcd to be the belt adapted to the Management of Colonies : They are Experiments fubllituted in the Place of Experience -, uncertain in their Event j and perhaps dangerous in their Confequences. For there can be no Aflurance of the Effeds immediate or diflant, which may en- fue from Conceflions made to Colonies in a State of adual Refift- ance: By the Eftablifliment of Free Ports, an opening may be made for bringing the Produce of foreign Settlements into our own ; or on the other Hand, for the Introduction of European Miinufadtures into the Britifh Plantations : This and the other Regulations which are intended to procure the Carriage of Commoditiefi ralfed in the French lllands, may encreafe the Confumption of thofe Commodities on the Continent oi ylme- rico, to the Prejudice of our IVtJl- Indies j or facilitate the Ex- portation of our enumerated Commodities to other Places than to the Dominions oi Great Britain: And the Facilities given to the Intercourfe between our and their Settlements, may either furnifl) the Colonifls with the Means of making Returns to this Country, or of diverting the Returns they were before provided with, to other Countries. The Event in all thefe Inftances is at leaft doubtful : Whereas the Meafures ol the former Adminiftra- tion were certain of their Effects : To open a Vent for the Pro- ■duce of the Plantations, tc encourage Cultivation there, to extend their Filheries, to prevent their clandcftine Trade, and to confine ,, their Confumption to the Manufadures of Great Britain^ Were Meafures equally beneficial to die Mother- Country and to the 1 -; ; v.. -li :, .V :*j„; .. .^^^.^ ,.., ^.„ii>.*. ..», .Colonies, m ["3] Colonies, and cannot in any Event or by any Abufe become de- trimental to either. There was but one of Importance amcngfl: them from which any bad Confcquenccs to Commerce were apprehended, which was the Duty upon MolafTcs : But as I have had Occafiori to mention that Subject more than once, and it would carry me too far were I to enter into all the Confiderations which arife up- on it, I will leave it to reft upon the Obfervations which have before occurred, and upon that general Knowledge which the PuWick is poficffed of, from its having been fo long the Topic of Convcrfation. There was another Mealure of the fame Admiiiiftra- tion, which it would be alfo tedious to dwell upon at prefent, and which, if the Interefts of this Country had been confulted, would not have been made an Objcdl of fo much Attention : I mean the Stop fuppofed to have been put by Orders from hence to the Importation of Gold into the Colonies. That no Orders were given for that Purpofc, that on the contrary Orders were difpatched to prevent any Interruption of the Trade, and that the Merchants concerned were confulted and fatisficd, are Fadls which have been proved, and are now univcrfally known : But the Cla- mour raifed upon the Occafion may have mifchievous Confe- quences, which they who encouraged it, muft anfvver for. As groundlefs a Complaint though of a different Kind was made in Relation to the Admiralty-Courts, as if the EftabliHiment were an Innovation J o"- the life of them in fupport of Revenue and commercial Laws were a Grievance ; whereas in fnn \ t • ["8 1 the then Adminiftratlon began to be known, they Immediately fell } nnr was this occafioned by Sufpence about the Fate of the Stamp-A(fl ; for they continued after that was decided much be- low the Point they had before arrived at, they remained fo to the End of the laft Adminiftration, and they are now that America is quiet, Two per Cent, lower than they were when it was known to be throughout in Confufion : From hence a certain Judgement may be formed of the real Merils of thofe Minifters : Though fuch Pains were taken to perfuade the Nation that they were po- pular ; yet the monied Men, they whofe Property was affeded by their Condudl, faw that Property depreciated under fuch Ma- nagement, and lowered the Price they expeded for it : They knew the Confequences of allowing Extravagance to ravage, while Deficiency was let in to confume tiie Revenue: At the Clofe of the Account they found that the Loffes and Charges of a Year of Peace, were equal to a Fund fufficient to provide for a German Campaign : And they feared that further Depredations were im- pending : They obferved that the Relief expeded by the Landed- Jnter':ri was removed out of Sight j and that Trade and Manu- fadures were not even flattered with the Hopes of any Allevia- tion : They could perceive no Advances made towards any great Operations of Finance, but on the contrary, the preparatory Means which arife from Oeconomy and Improvement, abandon- ed, or diverted, or deftroyed : And they dreaded the Poffibility of a War, while the Opportunity of Peace, the Seafon to provide for it, was unprofitably pafling away. Nor is their Confidence reftored by the late Changes in the Adminiftration, as no Affurance of a Change of Condudt can be derived from them, all the prefent Minifters having been Parties \ to or having fupported the Meafures of the laft: Publick Credit therefore is not revived by fuch an Arrangement, it even feems to decline ftill more, for it feels that thfj Evils which have afi^eft- ed it will grow inveterate by Continuance, and flir4nks under the Apprehenfions of further Aggravations of them. Thefe Evils are the more hardly born, becaufe they are not neceflaryj and be- caufe they have daftied the Hopes which were entertained, when fix Millions and a Half of Debt difcLarged or provided for, and an Addition made of above Four hundred Thoufand Pounds to the national Income, in the Space of two Years only, had proved the Extent ; I [ "9 ] Extent of the Abilities, and the Number of Refources fllli left to this Country : The Stocks then rofe j and they would have rifen to a much gre&ier Height than they are atnow,if thefameMeafures had been purfued ; but a different Syftem has check'd the Progrefs natural to them in Times of Peace ; and fo long as that Syftem prevails, we can pretend neither to an Independency of Trade, nor a Permanency of Power. Drooping Credit, and Revenue continually crumbling away, in a Seafon of perfedt Tranquility, are alarming Circumflances to a commercial People : And fruf- trate the Provifion neceflary to be made againft that Day, when we fliall be called upon to maintain the Alcendancy we have ac- quired in Europe : It wil! lot remain with us long, our Trade cannot be protedVed, our Colonies cannot be preferved, our very Exiftence cannot be fecured, if the Finances of the Kingdom be ruined : In vain may we difcipline Armies, build Fleets, or form Alliances, while the Means to make ufe of them are wanting ; and by a fteady and judicious Management of the Revenue, and by that alone, can thofe Means be procured. We have feen how much may be gained in a fhort Time by fuch Management ; we have feen how much may be loft in lefs Time by a contrary Con- dudl : Let us judge then of the Meafures by their EfFedts : And of the Minifters by their Meafures : The Decifion is important j For the State of the Nation depends on the Syftem which is chofcn for the Adminiftration of the Finances. \ F J ^M I S. ERRATA. Page 24, Line 26, after to inscribe. ' , > i4- 16, after W7«6i6 dele //6^. h 5^>' 9, for brought read bought. 57^ 7, for Compofition read Compenfation. /■' A, for then read tbcin. 95» Column laft, Line 2, for 4'/. read 4^. Line 3, for 3^/, rea(^ 3J. "Ni .j*Lj