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 Sir Toh 
 
 //// iij /^f ,//■/ .ai'/rr/j- . i>/-// //r*/**' /i- ri^tdig/£. S/ntH*/
 
 THE 
 
 HISTORY 
 
 OF THE 
 
 PUBLIC REVE N U E 
 
 O F T H E 
 
 BRITISH EMPIRE. 
 
 B Y 
 
 Sir J O H N SINCLAIR, Baronet. 
 
 CAFENDUM £ST, NE EXHAUSTO ^RARIO, REPENTINA CALAMITATE RESPUBLICA 
 DESERATUR. BoDiN. De Refub. Lib. vi. Cap. 2. 
 
 THE SECOND EDITION. 
 
 LONDON: 
 PRINTED BY A. STRAHAN, FOR T. CADELL IN THE STRAND. 
 
 M D CC XC.
 
 v. \-^. 
 
 ADVERTISEMENT 
 
 T O T H E 
 
 FIRST EDITION. 
 
 THIS Work was begun in the nionth of Auguft 
 1784, foon after the conclujQon of the then laft 
 Seflion of Parliament. When it was originally in con- 
 templation, the Author had no conception of the immenfe 
 difficulties attending it ; and they have increafed to fuch 
 a degree, that he has found it impoffible to purfue it 
 farther at prefent. ^e has judged it expedient, however, 
 to lay before the Public the Firjl and Second Parts of the 
 Work : and, if the prefent publication fliould meet with 
 a favourable reception, he propofes attempting a "Third 
 Part, containing — A Hiftory of the Progrefs of the Na- 
 tional Income, together with fome Obfervations on its 
 prefent State — An Hiftorical Account of the Progrefs of 
 our National Expences — Obfervations on the Refources of 
 
 A 2 the 
 
 357230
 
 iv ADVERTISEMENT TO THE 
 
 the Nation — An Analyfis of our Public Debts; and 
 an Inquiry into the real Nature and Amount of the 
 Burden — A Plan for re-eftablifhing the Public Credit 
 and Finances of the Country ; together with fome Ac- 
 count of the Progrefs and prefent State of the Revenue 
 of Scotland and Ireland. 
 
 It is impoflible that a Work of this nature, which 
 embraces fuch a number of objedls, and includes fuch 
 an -extent and variety of matter, fhould be perfedled 
 at once. To complete it in a manner fuited to the Au- 
 thor's ideas and wifhes -, to compofe fuch a Hiftory of our 
 Revenue as may clear up many doubtful points, correct 
 the miflakes of former hiftorians upon the fubjed, and 
 minutely afcertain the real ftate of the national income in 
 every sera of our hiftory, would require many years of 
 fevere labour and intenfe application. The prefent Work 
 is indeed little more than the firft (ketch or outlines of 
 fuch a performance : and as the Author may, perhaps, be 
 unable to execute fo laborious a tafk himfelf, it is his in- 
 tention to add to the Third Part, a full Account of all the 
 various Writings which have been publifhed upon the 
 Finances of this Country, which may be of ufe to any 
 other perfon who, with more leifure and happier talents, 
 may alfo have courage and induftry equal to fo arduous an 
 
 undertaking. 
 
 13 It
 
 FIRST EDITION. 
 
 It is only farther to be remarked, that although we 
 have had many naval, military, commercial, ecclefiaftical, 
 and parliamentary hiftories, yet this may be faid to be the 
 firfl attempt at a financial hiftory on an enlarged fcale ; 
 and, it may be hoped, will, on that account, be received 
 with the greater candour and indulgence by the Public. 
 
 Whitehall, 
 February 25, 1785.
 
 ADVERTISEMENT 
 
 TO THE 
 
 SECOND EDITION. 
 
 FIVE years have now elapfed, fince the, following 
 Work was originally fent to the prefs. During 
 that period the Author has the fatisfadion of finding 
 that it has rifen in eftimation and demand, info- 
 much that a republication of it has become necef- 
 fary. It is now reprinted with fuch corredions as a 
 more accurate inveftigation into the Hiftory of our 
 Revenue has pointed out. The alterations, at the 
 fame time, are not very material, excepting in fo far 
 as regards the amount of the Debts incurred by the 
 American War, which has turned out much more 
 confiderable than was at firll apprehended. 
 
 Whitehall, 
 ■February 26, 1790.
 
 TABLE of the SOVEREIGNS of ENGLAND, 
 
 from the Conqjjest. 
 
 
 
 Norman Line. 
 
 
 
 
 King's Names. 
 
 
 When their Reigns began. 
 
 Years. 
 
 Reigned 
 Months. 
 
 Days, 
 
 William the Conqueror 
 
 - 1066 Odober 14. 
 
 20 
 
 10 
 
 26 
 
 William Rufus , 
 
 - 
 
 - 1087 September 9. 
 
 12 
 
 10 
 
 24 
 
 Henry I. 
 
 - 
 
 - 1 100 Auguft 2... 
 
 35 
 
 4 
 
 — . 
 
 Stephen 
 
 - 
 
 - 1135 December i. 
 
 18 
 
 10 
 
 24 
 
 
 'I'he Saxon or Plantagenet Line. 
 
 
 
 
 Henry H. - 
 
 - 
 
 • - ii54 Odlober 2^. 
 
 34 
 
 8 
 
 II 
 
 Richard.!. - 
 
 - 
 
 - • 1 189 July 6. 
 
 9 
 
 9 
 
 — 
 
 John 
 
 ^ 
 
 - 1 1 99 April 6. 
 
 7 
 
 — 
 
 12 
 
 Henry HI. - 
 
 - 
 
 - 1216 Odober 19. 
 
 56 
 
 I 
 
 -P. 
 
 Edward I. 
 
 - 
 
 - 1272 November 16. 
 
 ' 34 
 
 ■ 7 
 
 21 
 
 Edward II. - 
 
 - 
 
 - 1307 July 7- 
 
 19 
 
 6 
 
 20 
 
 Edward III. 
 
 - 
 
 - 1327 January 27. 
 
 50 
 
 5 
 
 25 
 
 Richard II. 
 
 
 - 1377 June 21. 
 The Line of Lancafter. 
 
 12 
 
 3 
 
 8 
 
 Henry IV. - 
 
 - 
 
 1399 September 29. 
 
 13 
 
 5 
 
 21 
 
 Henry V. - 
 
 - 
 
 - 141 3 March 20. 
 
 9 
 
 5 
 
 II 
 
 Henry VI. - 
 
 4- 
 
 - , 1422 Auguft 31. 
 The Line of York. 
 
 38 
 
 6 
 
 '4 
 
 Edward IV. - 
 
 _ 
 
 - 1460 March 4. 
 
 22 
 
 I 
 
 5 
 
 Edward V. - 
 
 - 
 
 - 1483 April 9. 
 
 — 
 
 2 
 
 13 
 
 Richard III. 
 
 - 
 
 - 1483 June 22. 
 
 2 
 
 2 
 
 — 
 
 The
 
 • rt 
 
 via 
 
 TABLE of the Sovereigns o/EiiGLAiJT>from the Conquest. 
 
 King's Names. 
 
 Henry VII. 
 Henry VIII. 
 Edward VI. 
 Queen Mary 
 Queen Elizabeth 
 
 The Houfe of Tudor. 
 
 ' When their Reigns began. 
 
 - 1435 Auguft 22. 
 
 - 1509 April 22. 
 1547 January 28. 
 
 - 1553 J"V6. 
 
 - 1558 November 17. 
 
 Reigned 
 Years. Months. Days. 
 
 8 — 
 
 23 
 
 37 
 6 
 
 5 
 
 44 
 
 9 
 
 5 
 
 4 
 
 4 
 
 1 1 
 
 7 
 
 James I. 
 Charles I. 
 Charles II. 
 James II. 
 
 The Houfe of Stuart. 
 
 1602 March 24. 
 
 22 
 
 .^ 
 
 3 
 
 1625 March 27." 
 
 •22 
 
 10 
 
 3 
 
 1648 January 3a. 
 
 -36 
 
 — 
 
 7 
 
 ^684 February 6, 
 
 4- 
 
 
 
 Y 
 
 .1 
 
 -Since the Revolution. 
 
 WiUiam III. 
 
 - 
 
 - 1688 February 13. 
 
 - 13- 
 
 — 
 
 -23 
 
 Queen Anne 
 
 - 
 
 '- 1701 MarcTi 8. 
 
 _ 12 _ 
 
 .4^ 
 
 24 
 
 George I. 
 
 - 
 
 - 1714 Auguft, I. _ 
 
 12 _ 
 
 10 
 
 10 
 
 George II. 
 
 - 
 
 - 1727 June u. 
 
 - 33- 
 
 .4 
 
 14 
 
 George III. 
 
 - 
 
 - J760 Odober 2^. 
 
 
 
 
 • \- 
 
 '1 " "' 
 
 l'> Sfll.; 
 
 CON-
 
 CONTENTS. 
 
 PARTI. 
 
 Page 
 TNTRODVCriGNy and r/an of ibe Work - 3 
 
 CHART. 
 
 Oft be Modes made rife of by the Ancient Britons for raifng a tuh- 
 
 lic Revenue - - - - 5 
 
 CHAP. II. 
 
 Of the Revenues of Britain under the Roman Government - S 
 
 CHAP. III. 
 
 Of the Revenue of England during the Government of the Saxons 1 2 
 
 •I 
 
 CHAP. IV. 
 
 General View of the ancient Reve?iue of the Crown of England 1 7 
 
 C H A P. V. 
 
 Of the Revenue of England under the Government of the Norman 
 
 Line - - _ - - ^/ 
 
 C H A P. VI. 
 
 Of the Revenue of England during the Saxon LinCy or Houfe of 
 
 Plantagenet - - - - 51 
 
 CHAP.
 
 CONTENTS. 
 
 Page 
 CHAP. VII. 
 
 Of the Revenue of England during the Govcrn'mmt of the Hovfes 
 
 of Lancafler and York - - - - 82 
 
 CHAP. VIII. 
 Of the Revenue of England under th'e Government of the Houfe of 
 
 Tudor - - -"-■•- - 100 
 
 C H A P. IX. 
 
 Of the Revenue of England^ from the Acccffton of the Houfe of \ 
 Stuart to the Revolution 1688 - - 138 
 
 PART 11. 
 t!: H A P. I. 
 
 Of the various Modes of providing for the extraordinary Expences 
 
 of a Nation - - - - g 
 
 CHAP. II. 
 Of Public Debts In general - - m 16 
 
 C H A p. lit. 
 
 Of the Public Debts of England^ prior to the Revolution i688 34 
 
 C H A P. IV. 
 
 Of the Rife and Progrefs of our prefent National Debts *- 48 
 
 C H A P. V. 
 
 Of the Steps hitherto taken to diminifh the Capital^ and to reduce the 
 Inter efl of the National Debt^ luithfome Account of the different 
 Plans fugge/led for that Purpofe - - 94 
 
 » 
 
 II THE
 
 THE 
 
 HISTORY 
 
 OF THE 
 
 PUBLIC REVENUE 
 
 OF THE 
 
 BRITISH EMPIRE. 
 
 PART I.
 
 INTRODU'CTION, 
 
 AND 
 
 P L A N of the W O R K. 
 
 TH E power of a State muft greatly depend on the income it 
 poflefles. If it enjoys a confiderable and unencumbered reve- 
 nue, it can employ a greater proportion of its fubjeds to carry 
 on war, or may cultivate to greater advantage, the arts of peace, when 
 unembarrafTed with hoftilities : Whereas, with a fmall income, it can 
 neither reward the fervices, nor encourage the exertions of its people ; 
 and it muft principally truft, both for its improvement and protedlion, 
 to the natural adivity of mankind, or to the voluntary and difinterefled 
 zeal of public-fpirited individuals. 
 
 But however numerous the advantages of a great Revenue, they are 
 dearly purchafed if they cannot be procured without oppreffion. A cer- 
 tain ihare of his annual income no individual can refufe to contribute 
 for the general purpofes of the State. Sometimes alfo a flight additional 
 burden may prove an incentive to labour, and a fpur to greater diligence 
 and activity. But if the load becomes too heavy, either in confequence 
 of the greatnefs of the amount, or the impolitic mode of laying it on, 
 the induftry of a nation diminifhes, its wealth neceflarily difappears, the 
 number of its people decreafes, and the greater the occafion it has for 
 refources, the fewer it will adually enjoy. 
 
 Unfortunately, the fyftem of finance fo prevalent in Modern Europe, 
 has an unavoidable tendency to public oppreflion : Wars are per- 
 petually arifing, and the conteft generally is, who can firft drain the 
 Exchequer, and deftroy the credit of the enemy. It is foon difcovered, 
 
 B 2 that
 
 ^ HISTORY OF THE PUBLIC REVENUE 
 
 that war is not a favourable feafon for impofing heavy taxes on the 
 property of the people, and that the beft mode of commanding the 
 neceflary fupplies is, to borrow from tliofc who have confidence in the 
 faith of the nation and the fecurity it can afford ; and confequently who 
 are willing to leave their capitals unclaimed, provided they are regu- 
 larly paid a certain annual intereft. To pay that intereft, new taxes 
 muft be devifed ; and as little care is taken by ignorant, by intereftcd, 
 or by timid minifters, to leffen the incumbrances of war during the 
 ihort intervals of peace, the burden perpetually increafes ; and the un- 
 happy fubjeift finds himfelf obliged, not only to affift in defraying the 
 char<^es neceflary for fupporting the government under which he 
 lives, but is alio compelled to contribute to the payment of expences 
 incurred for expeditions which took place a century ago, and for wars, 
 commenced, perhaps, contrary to the intereft of the nation ; conduded 
 with profufion and weaknefs, and, of courfe, terminated with dif- 
 grace. 
 
 In no country has the fyftem I allude to been carried to fuch an excefs 
 as in Great Britain. From the year 1684 to the prefent time, it has 
 been under the nccefllty of increafing its revenue from about Two, to 
 above Fifteen Millmis per Annum. Fortunately the State can ftill bear 
 that burden, heavy as it is ; but as any confiderable addition to it would 
 probably be found -unfupportable, and, at any rate, as fuch a fyftem muft 
 fooner or later end in total bankruptcy, or the moft grievous oppreffion, 
 it is full time for the nation at large to confider what plan is the moft 
 likely to relieve us and our pofterity from the danger either of infamy 
 or diftrefs. To aflift the public in fo important a difcuffion, the fol- 
 lowing Work has been compofed. 
 
 In attempting to give an rhiftorical account of the finances of this 
 country, the fubjed naturally divides itlclf into two branches : The 
 firft will relate to our public Revenue prior to the Revolution 1688: 
 The fecond, to our fyftem of finance fince that period. During the 
 firft a:ra, the expences of the State were principally defrayed by the 
 ordinary revenue of the crown. It feldom happened that any extra- 
 ordinary tax was laid upon the people ; and even then, it was only a' 
 temporary grant to the monarch upon the throne. The period fince 
 the Revolution is diftinguilhed by principles of a very different nature. . 
 
 The
 
 OF THE BRITISH EMPIRE. 
 
 The State has alTumed the appearance of a great corporation : it extends 
 its views, beyond the immediate events, and prefling exigencies of the 
 moment — it forms fyftems of remote, as well as of immediate profit- 
 it borrows money to cultivate, to defend, or to acquire diflant pof- 
 feflions, in hopes that it will be amply repaid by the advantages 
 they may be brought to yield. At one time it protects a nation whofe 
 trade it confiders as beneficial : at another, it engages in war, left the 
 commerce of a neighbour and a rival fhould be too great : in fhort, it 
 propofes to itfelf a plan of perpetual accumulation and aggrandizement, 
 which, according as it is well or ill condudted, muft either end in the 
 pofTeffion of an extenfive and a powerful empire, or in total ruin. 
 
 How far fuch a ifyftem can boaft of advantages adequate to the 
 hazards with which it is accompanied, and the confequences to which it 
 leads, will more fully appear in the courfe of the following invefti- 
 gation. 
 
 > 
 
 CHAP.
 
 HISTORY OF THE PUBLIC REVENUE 
 
 CHAP. I. 
 
 Of the Modes made ufe of by the Ancient Britons for 
 raifng a public Revenue, 
 
 'Tp H E original inhabitants of the fouthern part of this ifland, It is 
 probable, were defcended from the ancient Gauls or Celtse, to whom 
 they bore a ftrong refemblance in refpe£l to manners, language, govern- 
 ment, and religion. They were divided into many tribes, or fmall com- 
 munities, who being engaged in perpetual hoftilities with each other, 
 could make but little progrefs in the arts of cultivation and improve- 
 ment. Their commerce principally confifted in the exportation of 
 liides, tin, atid other articles of little value, and from which little profit 
 was derived. Their hiftory remains involved in fable and obfcurity, 
 until they became objeds of importance fufficicnt to draw upon them 
 the notice and the arms of Rome, when, after a gallant ftruggle, they 
 found themfelves obliged to refign their independence, and fubmit to 
 its yoke. 
 
 The government of the Ancient Britons, like that of every nation In 
 a fimilar ftage of fociety, was of a mixed nature. Each little tribe had 
 a prince or leader, who conduced the operations of war; and who, in 
 proportion to his ability and fuccefs in that department, acquired in- 
 fluence and authority over the community in times of peace. But the 
 weight of fuch princes was of little avail, unlefs it accorded with the 
 general wifhes and prejudices of their fubjeds ; and their income was 
 of too fcanty and limited a nature to furnifh them with the means of 
 increafing the little power they were able to obtain. 
 
 The domain, or perfonal eftate of the monarch, was the principal 
 fupport on which he placed his dependence. It enabled him to main- 
 tain the followers of his court, and occafionally to reward their fidelity 
 and attachment with beneficial grants. If any addition was made to 
 the territory of the State, the greater part of it in general fell to the" 
 fhare of the fovereign, by which that domain would be not a httle in- 
 crealed; and when his authority came to be more confirmed, important 
 
 9 accelfions
 
 OF THE BRITISH EMPIRE. 
 
 acceflions would arife from the frequent confifcations which mufl have 
 taken place in fuch turbulent communities. 
 
 The Britifh kings drew fome advantage from the exercife of cer- 
 tain prerogatives with which they were invefted. They commanded 
 the forces of the community, and enjoyed a confiderable fliare of the 
 plunder that was taken ; and the exclufive privilege they poflefTed 
 of coining money, was probably attended with fome pecuniary 
 benefit '. 
 
 Prefents and fubfidies from foreign nations are alfo accounted by fuch 
 monarchs an important branch of their revenue. " The German princes 
 " (we are informed by a great hiftorian) chiefly rejoice in the gifts which 
 *' come from neighbouring countries, not only fuch as ai^e fent by parti- 
 *' cular perfons, but in the name of the State %" To the monarch of a 
 fmall tribe, a fuit of fplendid armour, rich harnefs, and chains of gold, 
 are matters of great moment ; and the tranfition is not difficult from 
 the receiving of fuch prefents, to that of an annual fubfidy in money. 
 The Romans indeed were the firft who taught the northern nations ia 
 general that mercenary fyftem. 
 
 Before taxes exift to any great amount, a politic and popular fovereign 
 may draw a precarious revenue from the voluntary contributions of his 
 fubjeds. The northern nations, as defcribed by Tacitus, beftowed on 
 their princes, of their own accord, a certain number of cattle, or a cer- 
 tain portion of grain, with a view, under the appearance of honour and 
 of reverence, to fupply their necefTities ^ There is every reafon to 
 believe, that fuch contributions were cuftomary among the Ancient 
 Britons, and indeed they are the real fpring from which, in almofl 
 every country, taxes are derived. 
 
 Such, joined to perfonal fervices in war, were the flender fourccs on 
 which alone the ancient inhabitants of this country depended, in order 
 to protect themfelves and their pofl'eflions from the ambition, the mili- 
 tary force, and the opulence of Rome. Yet poor as the Britons were,, 
 and feldom united with each other, they were not fubdued without 
 making a gallant and obftinate refiftance. If the conqueft was fo diffi- 
 cult in their Aate of poverty and difunion, it is fcarcely to be doubted 
 
 • Henry's Hift. of Great Britain, vol. i. p. 206. 
 
 * Tacit, de Morib. Germ. c. 15. ^ Ibid.
 
 g HISTORY OF THE PUBLIC REVENUE 
 
 that they would have been able to have repelled their invaders, had 
 they been the fubjeds of one monarch pofleffed of valour and ability 
 in war, and enjoying an income fufficient to have enabled him to 
 reward the zeal and exertions of his fubjedts. But, in the words of 
 Tacitus, " they rarely united their forces againft the common enemy ; 
 •' and by this means, while each community fought Separately, they 
 *' were all fucceflively fubdued*." 
 
 C H A P. II. 
 
 Of the Revenues of Britain u?tder the Rotnan Goverfime?tt* 
 
 T N examining the various political diftin£l:ions between ancient and 
 modern nations, none is more ftriking, or perhaps better intitlcd to 
 attention, than the great difproportion between them, in regard to 
 their public revenues. It is a fmgular and aftonifliing circumftance, 
 that the province of Gaul alone fliould have been able, about a century 
 ago, to maintain a body of men equal to the whole military and naval 
 cilablifhments of the Roman empire ' ; and it is more than probable, 
 that the revenues of France, of Spain, and of Great Britain, joined 
 together, are at this time equal in nominal amount to the whole income 
 of that empire, when it was moft flourifliing and moft extended*. 
 
 It is natural to afcribe this circumftance, in fome meafure, to the dif- 
 covery of America, and the great increafe of fpecie in confequence of 
 that event ; and it is not to be doubted, .that fuch an increafe muft 
 have enabled modern nations to pay, with greater facility, the demands 
 
 ♦ Tacit, vita Agric. c. 12. Thofe who wifli farther information with regard to the 
 revenue of the Ancient Britons, may confult Campbell's Political Survey, book iv. ch. i. 
 and Henry's Hift. of Great Britain, vol. i. p. 204. 
 
 • Gibbon's Hift. vol. i. p. 18. 
 
 * A great modern hiftorian calculates the amount of the Roman revenue at only fifteen 
 or twenty millions of our money. Gibbon, vol. i. p. 164. But it muft have become 
 moieconfidcrable, particularly during the reign of Dioclefian, when a general fyftem of 
 £xa6Uon was fpread over the whole empire. 
 
 of
 
 OF THE BRITISH EMPIRE. 
 
 of their refpedive governments. But notvvlthftanding the great influK 
 of money into Europe, fmce the fuccefsful difcoveries of Columbus, 
 unlefs ancient hiftorians deceive us, more fpecie muft have adtually 
 exifted in the various provinces of the Roman empire, during the reign 
 of Auguftus, or of Trajan, than now circulates in the three monarchies 
 above-mentioned ; and confequently other caufes, perhaps the following 
 in particular, muft have produced fo great a difproportion. 
 
 A warlike nation like the Romans confidered commerce, and the arts 
 depending on it, as but fecondary objedls of attention. With them, 
 valour in war, and a knowledge of the jurifprudence and political in- 
 terefts of their country, were the only eftimable qualifications ; whilft the 
 fkill neceflary for carrying on traffic, was looked upon in a light the 
 moft contemptible. The profeffion of a merchant being held in difre- 
 pute, it was purfued by none who had fpirit or abilities calculated for 
 more popular and refpedlable employments : hence little encouragement 
 was given to commercial exertions. The principles of trade were but 
 little attended to, and inftead of any addition and improvement to the 
 progrefs made by other nations of antiquity, the difcoveries they had 
 brought to light were neglected, and the fpirit of enterprife they had 
 difplayed, remained unrivaled by their conquerors. But in modern 
 times the cafe is different, trade is no longer confidered as difhonourable ; 
 it is undertaken by men of the greateft capacity, and of the moft re- 
 fpedable charaders ; the principles of commerce are developed, and 
 thoroughly underftood : a fpirit of induftry is excited ; the efforts of 
 the merchant and of the manufa£turer meet with every poffible coun- 
 tenance and fupport : a new ftruggle has arifen among nations, and the 
 conteft is, not only who fhall acquire the greateft extent of territory, 
 but alfo who fliall poffefs the greateft number of a6tive and induftrious 
 fubjedts. The confequence is, a confiderable addition to the general 
 wealth of thofe countries where fuch objects have been attended to ; 
 and hence they have been enabled to furnifh a greater revenue for the 
 purpofes of the State. 
 
 The extenfion of paper credit, and the eftablifhment of public debts, 
 are alfo circumftances which have not a little contributed to increafe the 
 oftenfible income of feveral modern nations. By the eafier circulation 
 which paper-money and credit produced, individuals are better enabled 
 
 C to
 
 10 HISTORY OF THE PUBLIC REVENUE 
 
 to pay the public burdens impofed upon them. If taxes were paid in 
 
 kind, as is (till the cafe in poor and uncultivated countries, paper-money 
 
 would be of lefs advantage to individuals or to the Public, But as the 
 
 exchequer muft have money from the people, and as it receives with 
 
 equal facility paper-money and fpecie, the increafe of the one, in 4 
 
 financial view, is equally ufeful as a proportionable addition to the 
 other. 
 
 In a country where taxes are laid upon articles of confumption, and 
 where the intereft of the national incumbrances ispaid chiefly to the 
 natives, the public debt itfelf contributes to the increafe of the revenue. 
 This feeming paradox, it is not difficult to account for. In Britain, for 
 example, every individual who confumes his income, rauft pay, in taxes 
 to the State, about one-fifth part of what he expends. If, therefore, 
 there is paid to the natives of this country eight millions per ajintim^ 
 as the intereft of their fhare of the national debt, a fifth part of that 
 fum, or one million fix hundred thoufand pounds, will be repaid 
 by thole creditors iii taxes to the very government from which it 
 is received. This circuraftance greatly contributes to render our 
 national incumbrances much lefs burdenfome than other wife they 
 would be. A new debt thus produces a new fource of revenue, at leaft 
 in proportion as the annual intereft of fuch a debt is paid to the natives 
 of the kingdom. 
 
 Though Great Britain, France, and Spain, cannot boaft, like the 
 ancient Romans, of contiguous provinces fubject to their yoke, yet at 
 the fame time they enjoy diftant colonies, and poffeffions, which, in 
 many refpedls, are equally beneficial. The furplus of the produds of 
 thefe poiTeflions, after maintaining their inhabitants, it is well known, 
 centre in the capital. The commerce carried on between the mother- 
 country and the colonies, furniOies income and employment to many 
 individuals in the former, who are thus better enabled to pay the 
 burdens to which they are fubjedl. The wealthieft colonifts are in 
 general fond of refiding at the feat of government, and contribute, by 
 the taxes levied on their confumption, to increafe the income of 
 the State ; and in fome cafes, fuch colonies pay no inconfiderable fum 
 (after fupporting their own eftablifhments) into the coffers of their 
 fovereign. 
 
 5 ' Not
 
 OF THE BRITISH EMPIRE. ir 
 
 Not only have means been invented to incfeafe the wealth, the in- 
 duftry, and the refources of nations in modern times, but better modes 
 have alio been deviled for raifing public revenues. 
 
 The ancient Romans fhevved no mercy to the nations they conquered. 
 No fooner were the natives completely difarmed, and a little inured td 
 the yoke, than they found how fatal it was to be fubject to diftant rulers^ 
 ignorant of their fituation and carelefs of their complaints. Provided a 
 revenue was raifed, they were little anxious about the means by which 
 it was effected : but tyranny defeats its own objedl ; and thofe countries 
 are uniformly the moft produclive of revenue, where there is the leaft 
 cppreflTion, and where the greateft attention is paid to the happinefs and 
 profperity of the people. 
 
 It is not propofed to give any particular account of the Roman fyftem 
 of taxation, as it is a fubjedt which belongs more properly to the Ro- 
 man, than to the Britifh hiftory, and would require a performance of 
 no contemptible fize to elucidate. It is fufficient for our prefent pur- 
 pofe to remark, that the taxes paid by Britain, and the other provinces 
 of the empire, were partly levied in kind, and partly in money ; that 
 thofe who paid taxes in kind, were obliged to furnifh about a tenth 
 part of the produce of their lands, and to carry the quantity they were 
 rated at, to any diftance however great, according to the fuppofed 
 neceflities of the State, or to the caprice of thofe who were in power : 
 that fo heavy a duty was laid upon cattle (in which Britain particularly 
 abounded), that, joined to other grievances, it was the occafion of a 
 very dangerous revolt, which was notextinguifhed but with the greateft 
 difficulty : that heavy cuftoms were paid upon goods both imported 
 and exported ; that the proprietors of mines were obliged to pay a 
 certain {hare of their profits, for the benefit of the State: that a duty 
 was laid upon commodities ibid by audllon, or in the public market, 
 above a certain value : that capitation taxes were rigoroufly executed ; 
 to which might be added a variety of other impofls on legacies, llaves, 
 houfes, pillars, hearths, air, artifts, animals, and other articles too tedious 
 to mention ' : " Nay, fuch, it was faid, is the exquifite tyranny, and 
 
 ' See Henry's Hiftory of Great Britain, vol. i. p. 237. Campbell's Political Survey, 
 bookiv. chap. 2. Whitaker's Hiftory of Manchefter, vol. i. p. 212. 
 
 C 2 " infatiable
 
 ta HISTORY OF THE PUBLIC REVENUE 
 
 *' Infatiable avarice of the Romans, that they extort taxes even from the 
 *' dead*;" alluding to a duty upon the body of the deceafed, before it 
 was fufFered to be buried. 
 
 At firfl, the income of the province of Britain did not pay the whole 
 expence of the eftablifhment' ; but it came at length to be fo confider- 
 able, as to furnifh the Imperial treafury with fome valuable remittances. 
 It is fuppofed by a modern hiftorian, who founds his calculations upon 
 the authority of Lipfius, that the whole revenue could not be lefs thark 
 two millions of pounds fterling*. Our information, however, as to the 
 finances of the Roman empire in general, and in particular with regard 
 to the fpecific fum drawn from each different province, is too fcanty and 
 defedive to furnilh us with the materials neceflary to form any exadt 
 computation. 
 
 CHAP. III. 
 
 Of the Revenue of Kngla7icl^ durifig the Government of the 
 
 Saxons. 
 
 T7R0M the departure of the Romans, to the invafion of England by 
 William of Normandy, comprizes a period of about fix hundred 
 and twenty years j an iEra diftinguifhed above all others in the Englifh, 
 and perhaps in a:ny other hiftory, for perpetual wars, ravages, and 
 bloodfhed. 
 
 On the final retreat of the Romans, the northern parts of England 
 were laid wafle by the defultory, but deflrudive incurfions of the Scots 
 and Pids. Upon their rcpulfion, a defperate and fatal difpute arofe, 
 between the original natives of the country, and the Saxons, their auxi- 
 liaries. The latter had no fooner fecured the mofl fertile provinces of 
 
 * Xiphil. ex DioneNicaeo, in Nerone. ' Appian, m Pref. p. 3* 
 
 * Henry's Hiftory, vol. i. p. 238. But Campbell fays, that it is impoflible at prefent^ 
 to form any probable guefs, of the Roman income from this ifland. Political Survey, 
 vol. ii. p. 493, note 9. 
 
 the:
 
 OF THE BRITISH EMPIRE. 13 
 
 the ifland, than the little kingdoms into which they were divided, be- 
 gan to contend with each other, for the foie pofTefTion and entire go- 
 vernment of the country. This important difpute was no fooner 
 brought to a conclufion, than the Saxons were attacked by a dangerous 
 enemy, who haraffed their coafts with the moil deftrudive inroads, 
 and, after much (laughter, compelled them to fwear allegiance to the 
 foverelgns of Denmark. At laft, William of Normandy boldly deter- 
 mined to attempt another revolution, and adlually fecured for himfelf 
 and his pofterity, the government of a country, thus ftained with the 
 blood of fo many conquerors, who were fucceflively vanquiihed in their 
 turn. 
 
 Little or no advantage could arife from a review of the reigns, or an 
 account of the revenues, of the innumerable multitude of monarchs, 
 who, in a greater or lefs degree, wielded the fceptre of England during 
 the iEra above mentioned. It will be fufficient to give a general fketch 
 of the refources from which their income arofe, without entering into 
 minute and unimportant details. 
 
 The demefnes of the Anglo-Saxon monarchs were very great : 
 a circumftance not difficult to be accounted for. The kingdoms of the 
 Heptarchy were founded by Chieftains, who commanded troops attached 
 to them by the ties of confanguinity, w^ho were bora with an hereditary 
 regard for the family they reprefented, or were led to join in the in- 
 curfion from the high idea they entertained of their courage, character, 
 and good conduQ. In other words, they were the heads of clans 
 or little tribes, fuch as now exift among the Tartars, and fome veftiges 
 of which ftill remain in the mountains of Scotland. Such commanders, 
 it is probable, would claim a confiderable fhare of the territory that 
 was conquered ; and as, befides the plauflbility of their original pre- 
 tenfions, it was difcovered in the courfe of the war, that many advan- 
 tages refulted from fubordination on the one hand, and pre-eminence 
 on the other, it was natural to fuppofe that a confiderable portion of 
 the new acquifition would be given to the leader, not only to preferve 
 fo ufeful a pre-eminence, but alfo to fupport the dignity of his office, 
 and to reward his valour in the field. Thus each petty monarch of 
 the Heptarchy came to be poffefled of a landed eftate of great value and; 
 extent ; and when all the domains of thefe different kingdoms, united
 
 14 HISTORY OF THE PUBLIC REVENUE 
 
 to enrich one fovereign, the whole mufl: have yielded a very confider- 
 abie revenue. 
 
 The power of a monarch to determine queftions litigated among his 
 
 fuhjetSls, is one of the firft prerogatives with which he is entrulled. 
 
 Employed in diftributing juftice among the people, in procefs of time 
 
 he is accounted the preferver and guardian of the public peace, and 
 
 gradually becomes intitled to a fhare of the tines, impofcd upon thofe 
 
 who difturb the quiet and good order of his government. Among the 
 
 Saxons and other northern nations, criminals of every defcription 
 
 were only fubjefl to pecuniary punilhments, in proportion to the fup- 
 
 pofed atrocioufnefs of their offences : nay, 30,000 thrimias were fup- 
 
 pofed to be a fuflicient atonement for the unpremeditated murder ot a 
 
 inonarch, of which 15,000 were paid to his kindred, and 15,000 went 
 
 into the public ftock, or enriched his fucceflTor '. Among a rude and 
 
 licentious people, fuch as the Saxons, it is probable that crimes of every 
 
 dye and denomination were not unfrequent; and, as a great proportion 
 
 of the muldls impofed on the offenders belonged to the king, it muft 
 
 have added not a little to his income. 
 
 By the original conflitution of the Anglo-Saxon government, there 
 were three important duties, commonly known by the name of the 
 Trinoda NeccJfitaSy to which every proprietor of land was fubje£t. At 
 firft, they were exaded in kind, and every individual was obliged to 
 appear in perfon, when legally called upon, for the purpofe of repelling 
 the enemy, of conftrufting fortrefles for the public defence, or repairing 
 the bridges neceffary for the internal commerce of the country. Such 
 fervices, both for the advantage of the State, and the convenience of its 
 more opulent and induftrlous members, were gradually converted into 
 money ; and hence arofe the taxes known under the name of Heregeld^ 
 Burg-bote and Brig-hote^ which it appears were occafionally levied by the 
 Saxon monarchs \ 
 
 " Bifhop Fleetwood (Chron. Prec. p. 29.) fuppofes 30,000 thrimfas to be equal to 
 150 Saxon pounds of filver. Hume (Append, vol. i. p. 219.) converts this fine into 
 1 300 1. of our money. But another hiftoriaii calculates it only at jT. 351 : 1 1 : 3. Henry's 
 Hiftory of Great Britain, vol. ii. p. 511. Rapin remarks, that w/^a/ ««rdtr was punifhed, 
 not by a fine, but with death. 
 
 » The word Bote, in the Saxon language, fignifies to repair; Rnpin's Hiflory, vol. i. 
 p. 119, note 3. 
 
 But
 
 OF THE BRITISH EMPIRE. 15 
 
 ■ But the ordinary revenues of the crown, and the perfonal fervlces of 
 the pecple, were not adequate to the defence of the country, againft the 
 incurfions of the Danes. They naturally began their depredations either 
 in the weakeft parts of the kingdom, or in places where they flattered 
 themfelves with the greateft booty, or where they were the leaft expeded; 
 and as their progrefs was marked with every fpecies of devaftation and 
 horror, it was found neceflary, when the kingdom was unable or unpre- 
 pared to oppofe them, to purchafe their departure almoft on any terms. 
 In order to raife the money wanted for that purpofe, each hide of land ^ 
 (of which it is faid there were 243,600 during the Saxon government) 
 was made fubje£l to a tax of one {hilling or more, according to the pecu- 
 liar exigencies of the times. This impofition, which was called Danegeld, 
 or Dane-money, was firft raifed byEthelred, a7iiio 991, and enabled him 
 to purchafe an ignominious truce from the Danes, for the fum of ^. 10,000, 
 equal to about ^. 300,000 of our modern money, ^tino 994, a fimilar 
 agreement was made at the price of^^. 16,000 *. But fuch bribes only 
 ferved to expofe the miferable Saxons to frefh infults, and greater ex- 
 tortion. For gratifying the avarice increafed the hopes, and fwelled the 
 demands, of the invaders ' ; and, on the whole, thefe events furnifh aa 
 ufeful leffon to other nations, not to truft for their fafety and protedlion,, 
 to the wealth they are poflefTed of, but rather to depend on the vigour of 
 their councils, and their valour in the field. 
 
 5 A hide of land is by fome authors calculated to be as much as one plough can manage 
 in a year. Bede fixes it at the quantity neceflary to maintain a family. Some are fo par- 
 ticular as to fay that it contained one hundred acres ; others again aflert, that the number 
 of acres was uncertain. This tax was fometimes called Hidagium. See Mort. Hifl-. of 
 England, vol. i. p. 93. Brady (Hift. of England, vol. i. p. 270, note) fays, that there 
 were about 274,950 hides of land in England. See alfo Lytt. Hiflory of Henry II. vol. iii. 
 p. 82. 
 
 * See Brady's Hiftory, vol. i. p. 123. 
 
 ' The tribute paid to the Danes anno 1002, was ;^. 24,000; anno 1007, £. 36,0005. 
 anno 1012, £. 48,000. The laft tribute of this kind raifed for the purpofe of bribing the' 
 Danes, was anno 1018, when Canute exa(3ed the fum of £. 72,000 from the kinj^dom 
 in general, and about £. ii,coo from the city of London befides, with a view of re- 
 warding his Danifli followers, and of inducing them to leave England, which, without 
 fome pecuniary recompence, would not eafily have been effe£led. Brady's Hift. of Eng- 
 land, vol. i. p. 123. 
 
 At-
 
 v6 HISTORY OF THE PUBLIC REVENUE 
 
 At firft, this tax was laid on folely to bribe the Danes to defift from, 
 their depredations ; but afterwards, under the pretence of making pre- 
 parations to prevent their inroads, it became an annual branch of the 
 revenue, and was levied by the fucceflbrs of Ethelred, until Edward the 
 ConfefTor, anfio 1051, in order to render himfelf popular, not only 
 abolifhed it, but reftorcd to the feveral proprietors from whom it had 
 been collected, as much of the produce of the tax as remained in the 
 exchequer ^ It will be feen, in a future period of the hiftory of our 
 revenue, that this odious and oppreflive burden was revived by William 
 the Norman ; a circumftance which greatly contributed to render him 
 obnoxious to the Englifh. 
 
 It is impoffible to form any accurate calculation of the income that 
 would arife from thefe and other fources of revenue', which the king 
 of England enjoyed from the landing of the Saxons, to the deftrutlion 
 of the Heptarchy, and from thence to the Norman Conqueft. It is 
 computed that the tax called Danegeld, at the rate of a (hilling for each 
 hide of land, raifed 12,180 Saxon pounds, equal in point of real value 
 to j^". 360,000 of our modern money ; and confequently the tax laid on 
 by Canute aimo 1018, amounting to 83,000 Saxon pounds, was equal 
 to a modern land tax of two millions and a half. It was found, how- 
 ever, too great a burden for the country to bear ; and Danegeld, until 
 the reign of William the Norman, never afterwards exceeded four 
 {hillings per hide ; but whatever was the income of the Saxon monarchs 
 (when they poflefled abilities adequate to their fituation), their revenue 
 amply furniflied them with the means of being refpeded both at home 
 and abroad, and enabled a prince poffefled of Alfred's genius and capa- 
 city, to rival the fame, and to fhare in the immortality, of the greateft 
 heroes and legiflators of antiquity ^ 
 
 CHAP. 
 
 * See Webb's account of Danegeld. Madox Excheq. chap. xvii. p. i. Mort. Hift. 
 of Eng. vol. i. p. 118. 
 
 ' It is fuppofed that the Saxon monarchs exafted fome taxes of a feudal nature, parti- 
 cularly reliefs, then known under the name of heriots. It is alfo probable, that forne cuftoms 
 were paid on merchandife, and fome profit drawn from vacant benefices. 
 
 " We are told that Alfred divided his revenue into two parts : he referved one part 
 for himfelf, the other he gave to the poor. His own fhare was thrown into three di- 
 vilions, which he expended, in maintaining his houfehold, in paying his architeifts, and 
 
 other
 
 OF THE BRITISH EMPIRE. 17 
 
 CHAP. IV. 
 
 Gejieral View of the ancient Revenue of the Crown of 
 
 England, 
 
 T TNDER every great political fyftem of government there are four 
 principal fources of public revenue. The firft is, the income 
 derived from property vefted in the public; the fecond, the emoluments 
 of certain lucrative prerogatives annexed to the fovereignty ; the third, 
 voluntary contributions from the people ; the fourth, taxes or impofts, 
 not fpontaneoufly given, but legally exacted. From one or other of thefe 
 great fources all public revenue muft arife. Without entering into any 
 particular difcuflion of the principles on which they are refpedively 
 founded, or inquiring where they are peculiarly produdive, or which 
 of them are the lead burthenfome to a nation, the fole intent of the pre- 
 fent chapter is to give a general view of the fources from which the an- 
 cient revenue of the Crown of England was derived ; including alfo the 
 firft dawning of our prefent fyftem of taxation. 
 
 I. Property vefted in the Sovereign. 
 
 In the preceding chapter it was obferved, that the royal domains of i- Crown 
 the Saxon monarchs were very confiderable. It is faid, that the crown 
 was pofTeffed of 1422 manors, befides other lands and quit rents, in the 
 time of Edward the Confeffor j and great additions muft have arifen 
 
 lands. 
 
 other curious workmen, and in penfions to ftrangers united to his court, for the inftrudlion 
 of his fubje£ls. The portion of his revenue appropriated for charitable ufes, was divided 
 into four parts. The firft was afligned for the relief of the poor in general ; the fecond, for 
 the maintenance of the monafteries he had founded ; the third, for the fubfiftence of the 
 profeflbrs and fcholars at Oxford ; the fourth, for poor monks, whether Englifii or fo- 
 reigners. Hearne's Life of Alfred, p. 204. 
 
 Such as wifli to be more fully informed with regard to the revenue of England under the 
 Saxon government, may coiifult Henr) 's Hiftory of (ireat Britain, vol. it. p. 258. Camp- 
 bell's Political Survey, vol, ii. p. 499. and Stuart's Hiftorical Diffcrtation on the Englifli 
 Conftitution, p. 105. 137. and 142. 
 
 D from
 
 i3 HISTORY OF THE PUBLIC REVENUE 
 
 from the confifcated eftates of thofe who fupported Harold, or who were 
 afterwards driven into rebellion by the tyranny of the conqueror. 
 But whatever might be the original value and extent of the landed 
 property of the crown, and however great the accefTions which it might 
 receive, and though the ftridefl: laws were enaded to prevent its aliena- 
 tion, and to check encroachments, yet the royal domains of England 
 have fliared the fame fate with thofe of other countries, and hardly a 
 veftige now remains of the extenfive property which William I. and his 
 fucceflbrs were poffefred of. Nor is this to be vrondered at ; for when 
 great eftates are with difficulty kept for any length of time in the fa- 
 milies of private individuals, it cannot be expedcd,.that property much 
 more valuable and extenfive can be long preferved from the artful ra- 
 pacity of needy favourites, the natural profufion of courts, or the negli- 
 gence and treachery of their officers. 
 
 a. Foreftj. The royal forefts yielded no dire£t or certain revenue to the crown : 
 an income could not be expefted from wafte lands fet apart for deer 
 and other animals of the chafe, and deftined not for the king's profit, 
 but for his reqreation and amufement. However, as many laws were 
 pafled, and particular courts and officers were appointed, for prefcrving 
 the royal game, and as thofe who trefpafied upon the royal forefts, were 
 liable to heavy fines and amerciaments, profufe and needy monarchs 
 were thence enabled to raife confiderable fums from fuch of their fub- 
 jeds as lived in their neighbourhood '. This mode of raifing money 
 was often complained of as oppreffive. It fell into difufe about the time 
 of Charles I. and indeed was totally incompatible with the nature and 
 principles of a free conftitution. 
 
 3. Mines. The only remaining fpecies of property which the crown of Eng- 
 
 land was entitled to, was a right to all the mines of gold and filver dif- 
 covered in the kingdom : nay, it was contended, that if the fmalleft 
 quantity whatever of thefe precious metals was difcovered in a mine, it 
 ' inftantly became the property of the monarch. This harfh and im- 
 
 ■ The king poflefled fixty-eight forefts, thirteen chafes, and feven hundred and eighty- 
 one parks in different parts of England, which, confidering the extreme paflion of the 
 Englifh and Normans for hunting, were fo many fnares laid for the people, by which they 
 were allured into trefpaffes, and brought within the reach of arbitrary and rigorous laws. 
 Hume, Appendix ii, vol. ii. p. 136. 
 
 politic
 
 OF THE BRITISH EMPIRE. 19 
 
 politic idea was not completely effaced, until it was enaded foon after 
 the Revolution, that the crown fhould only be entitled to purchafe the 
 ore at a certain fixed price''; and even that provifion was of too unpo- 
 pular a nature to be carried into pradice. 
 
 2. Lucrative Prerogatives. 
 
 The prerogatives of a fovereign are certain rights annexed to the 
 royal dignity with which he is inverted '. They are privileges entrufted 
 to him for the common benefit of the public ; and, as they are pro- 
 perly confined to the fovereign, and ought not to be fhared by any of 
 his fubjeds, they are fometimes attended with lucrative advantages, 
 and have yielded, when at their greateft height, no inconfiderable 
 revenue. 
 
 The king, in particular, by the laws of England, was accounted the Right of 
 fovereign lord, and original proprietor of all the lands in his kingdom. It '^"^"'"^^ 
 was fuppofed that every portion of the foil was at firft granted by the 
 crown, and was holden of it, fubjedl to military and other fervices. 
 " The intention of this fidion was to enable the king, by his royal pre- 
 " rogative, to put the kingdom in a ftate of defence, whenever it might 
 " be neceffary ; and every holder of land was thus obliged to maintain 
 " the king's title, and to defend his territories with equal vigour and 
 *' fealty, as if he had received his eftate upon that exprefs condition ■*." 
 But this fyftem, originally intended for the public protedion and fccu- 
 rity, was afterwards made a pretext to introduce a plan of tyranny and 
 oppreflion hardly to be equalled in hiftory. 
 
 For, in the firft place, the proprietor of every eftate in the kingdom, Efcuage. 
 in proportion to its extent, was burdened with military fervices ; for 
 which, in procefs of time, a certain fum of money was taken, by way 
 of fine or commutation, called cfcuage ^ He was alfo fubjed to 5^>' 'en''- 
 
 * I Will, and M. kK. i. c. 30. 5 Will, and M. c. 6: 
 
 ^ Black. Comm, on the Laws of England, book i. chap. vii. vol. i. p. 239. 7th edit. 
 
 ♦ Ibid. vol. ii. p. 51. 53, Sec. 
 
 5 Efcuage is derived from efcu (French) a fhield ; and efcuage was a certain futn of 
 money paid in lieu of the fervice of the fhield. 
 
 D 2 certain
 
 20 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Aids. 
 
 Relief. 
 
 Wardlliip. 
 
 Marriage. 
 
 Fine of 
 alienation. 
 
 certain annual payments or rents \\\ money, laid on as a mark of 
 
 the lord's pre-eminence, and in order to keep the vaffal in perpetual 
 
 remembrance of his feudal fubofdination. 5. He was obliged, under 
 
 the name of aids^ to give pecuniary afliftance when neceflary, to 
 
 ranfom the king's perfon if taken prifoner, to furnifli a portion to his 
 
 daughter, and to contribute to the expence incurred on making his 
 
 eldeft fon a knight. 4. It was fuppofed, upon the death of the 
 
 feudal polTenTor, that the eftate ought to revert into the hands of the 
 
 fuperior lord, and under that pretence it was contended, that the new 
 
 vaflal ought to make him a preltnt of a fuit of armour (which, in 
 
 ancient times, was reckoned peculiarly valuable), or to pay a fuie under 
 
 the name of relief; to which, in procefs of time, an addition was 
 
 made called primer fc'ifm^ entitling the king to demand from the heir of 
 
 any of his tenants /'// ccipite, who died feifed of a knight' s-fee, one 
 
 year's profit, upon his being put in pofl'effion of the eftate. 5. If the 
 
 heir was under age at the death of his predeceflbr, the king was in- 
 
 trufted with the wardfitp^ or the cuftody both of his perfon and eftate, 
 
 and enjoyed the income which it yielded, till he arrived at the age of 
 
 twenty-one years, and confequently was able to perform the fervices 
 
 ftipulated for his feud. If the heir was a female, Ihe came of age at 
 
 fixteen years, being then fuppofed capable of marrying a hufband who 
 
 might a£l in her ftead. 6. If the poflcflbrs of feudal eftates had the 
 
 power of entering into matrimonial connections during their minority, 
 
 according to their own fancy and humour, they might introduce into 
 
 the joint pofleflion of the Jief an enemy of the lord ; perhaps one 
 
 defcended from a family with whom he had an hereditary variance ^ 
 
 Upon this ground, the feudal fuperior was invefted v^-Ith fome degree 
 
 of control over the ward's marriage, and at length the right of felling 
 
 the ward in marriage, or of receiving the price or value of the match, 
 
 was confirmed by an exprefs a<fl of the legiflature. 7. It was afferted 
 
 by the feudal lawyers, that when the king gave an eftate to be holden 
 
 of himfelf and his fucceflbrs, it was a gift to a chofen and feleded 
 
 individual, which no other perfon ought to be put in pofleflion of, 
 
 without his privity and confent ; and that any attempt to infringe upon 
 
 this efTential ftipulation, by alienating the lands to a ftranger, ought to be 
 
 * Dalrymple on Feud. Prop. chap. ii. kSi, 2. 4th edit. p. 38. 
 
 attended
 
 OF THE BRITISH EMPIRE. 21 
 
 attended with the forfeiture of the grant \ This right was exercifed with 
 great feverity, during feveral reigns in the earHer"^art of the EngUfh 
 hiftory, until at laft it was determined by ftat. Edward III. c. 12. 
 that one third of the yearly value of the lands fhould be paid by way 
 oifine^ for a licenfe of alienation ; but if the tenants prefumed to aliene 
 without a licenfe, that they fliould be liable to a full year's rent of the 
 ellate. 8. Efcbcat was the laft fruit or incident refulting from the Efcheat. 
 feudal fyftem. It was a fpecies of confifcation ^ by which the feud 
 reverted to the fovereign, either from the delinquency of the vaifal 
 (who held it under the implied condition that he fliould not prove guilty 
 of any a6t of felony or treafon), or in confequence of his dying without 
 an heir cither fit to perform the ftipulated fervices, or entitled by the ori- 
 ginal grant to fucceed to the feud. 
 
 Such was the heavy and complicated fyftem of perfonal flavery, and 
 of financial oppreflion, to which this country was fubjedt, from the 
 invafion of William the Norman, until the reftoration of the regal 
 government in the year 1660. Fortunately, by 12 Car. 2. chap. 24. 
 the whole fabric was demoliflied at one blow, and it is now a matter of 
 juft aftonilliment hov/ a nation who gloried in its freedom, and boafted 
 of the mildnefs and benignity of its laws, could fuffer itfelf to be loaded 
 for fo many centuries with a burden, which, notwithftanding fome par- 
 tial mitigations,' feems to have been almoft infupportable. This, among 
 many other examples which might be produced from hiftory, clearly 
 evinces how ftrongly men are rivetted to ancient ufages, and how diffi- 
 cult it is to bring about any material innovation, however falutary it may 
 prove. 
 
 But thefe were not the only advantages attending the right of feig- 
 niory : for, as lord paramount of the kingdom, the fovereign claimed 
 all bona vacantia^ or goods to the property of which no other perfon 
 had any legal pretenfion. Upon this principle chiefly, the king of 
 England was entitled, i. To all /r^tT/^/ra of money, gold, filver, plate, Treafure- 
 or bullion, found hidden in the earth. 2. To wa'ifs^ or goods ftolen 
 and waived, or thrown away by the thief in his flight, for fear of being 
 
 ' Bacon's Works, folio edit. vol. iii. p. 551. 
 
 « Lawyers make a diftintaion between efchcats and forfeitures. See Wright on Te- 
 nures, p. 117. note X. 
 
 apprehended, 
 
 trove. 
 V/aifs.
 
 22 
 
 HISTORY OF THE I'UBLIC REVENUE 
 
 Eftrays. 
 
 Royal fi(h. 
 
 Goods 
 wrecked. 
 
 Cuftody of 
 idiots. 
 
 Goods un- 
 inheritcd. 
 
 1. Military 
 prerogatives. 
 
 apprehended, provided the party injured did not exert himfelfin the 
 purfuit or convidion of the offender. 3. To ejlrays, or valuable 
 animals found wandering without an owner, which, it is faid, belonged 
 to the king, not only as bona vacantia, but alfo to recompenfe the 
 damage done by them to the foil, of which he is the general proprietor. 
 4. To certain fifli called royal on account of their fize and value, if 
 they were either thrown afhore upon the coaft, or caught fo near it, as 
 to require little dexterity to kill them. 5. To goods wrecked, if no 
 proof could be made within a certain fpace of time who were the legal 
 proprietors ; a privilege perhaps given to the fovereign with a view of 
 inciting him to check the inhuman practices too common upon fuch 
 occafions, v/hen fuch goods ar'fe fuffered to be pillaged by the inhabit- 
 ants of the coaft. 6. To the annual profits arifing from the eftates 
 of idiots, nor natural fools, after defraying the expence of their main- 
 tenance. For an idiot viras accounted nobody by the law : his effeds, 
 therefore, during his life, were confidered as a fpecies of bona vacantia, 
 and confequently belonged to the fovereign ; but after his death, they 
 again reverted to their natural owners. Laftly, to the perfonal, as well 
 as landed property of every individual, to whofe inheritance no jufl: and 
 legal claim could be produced. 
 
 However trifling any advantages arifmg from fuch rights may appear 
 in modern times, yet anciently they were accounted of confiderable 
 value and importance. Nor was it reckoned at all beneath the dignity 
 of the crown to exercife any of its rights, even the moft obnoxious, 
 provided it yielded profit to the exchequer. 
 
 The remaining prerogatives of the crown attended with any lucra- 
 tive advantages, were either of a military — judicial — political — inquifi- 
 torial — commercial, or ecclefiaftical nature. 
 
 The right of declaring war, and of making peace, is a very import- 
 ant prerogative, of old vefted in the fovereigns of this country. It was 
 ori"-inally given to the monarch, in confequence of his having ufually 
 aded as the general of the community ; and it was fuppofed, with 
 fome degree of juftice, that none was fo capable of judging when the 
 nation was in a condition to carry on war, or required a peace, as the 
 commander of its forces. This prerogative was attended with fome 
 profit. For, in confequence of it, the crown was entitled to a (hare of 
 
 the
 
 OF THE BRITISH EMPIRE. aj 
 
 the plunder taken in war, and it received into its exchequer, fuch tri- 
 butes as the enemies of the State were compelled to pay, in order to 
 purchafe, either a continuation of peace, or a ceflation from hoftilities. 
 
 The power of diftrlbuting juftice, either perfonally, or through the 2. Judicial. 
 medium of courts inftituted for that purpofe, was another royal pri- 
 vilege, acquired at an early period of fociety, and produdive of fome 
 revenue. As the adminiftrator of the laws, and guardian of the 
 public peace, all fines and pecuniary punifhments were appropriated to 
 the ufe of the fovereign ; nay, under the pretence of giving a recom- 
 penfe to the king and his officers for their trouble in adminiftering 
 juftice, they were permitted to exadt fees in the courfe of a great variety 
 of legal proceedings, the profits of which were originally intended for 
 the royal maintenance, though fince diverted to lefs ufeful or eflential 
 purpofes. 
 
 The fovereign of England was accounted the fole fountain of ho- 3. Political, 
 nour, of office, and of privilege. It will appear, in the progrefs 
 of this work, that this prerogative yielded fome profit to the exchequer; 
 fome monarchs difpofing of offices for money ; others making a fale of 
 titles and honours ; and in general, all of them demanding pecuniary 
 returns for any privileges they beftowed, either on corporate bodies or 
 individuals. 
 
 It was imagined, that the king would often find It neccflary, with 4. inquifi- 
 a view of examining into the real ftate and circumftances of the '°"*'' 
 country, to make a perfonal progrefs throughout his dominions ; and, 
 as the removal of the court would occafion an unufual demand, at the 
 places to which it went, for every fpecies of provifions, it was thought 
 requifite to give the crown a right of purchafing neceflaries for the 
 maintenance of the royal houfehold, at an appraifed valuation, in pre- 
 ference to all other perfons, and even to force the fale or the hire of any 
 thing peculiarly wanted, without the owner's confent '. This pre- 
 rogative, which obtained the names of purveyance and pre-emptlov^ was 
 afterwards extended to every fpot where the royal family refided. But 
 the powers vefted in the purveyors, or officers appointed for that pur- 
 pofe, being greatly abufed, and indeed becoming every day lefs requifite, 
 
 5 Hume's Hiftory, vol. v. p. 365. 490. 547. 
 
 7
 
 14 HISTORY OF THE PUBLIC REVENUE 
 
 in confequence of the great increafe of cultivation and improvement, 
 and of the abundance which neceffarily followed, the whole right 
 was aboliflicd, at the fame time with the harfh and obnoxious fyftem 
 of military tenures; and, by 12 Car. II. chap. 24. the hereditary 
 cxcife, and a duty on wine licenfes, were fettled on the crown in their 
 Head. 
 
 5. Com- The king was alfo accounted the arbiter of commerce. In that capa- 
 
 city, he had the direction and government of the internal trade of the 
 country. He alone eftabliflied public marts ; and he might appropriate 
 to his own ufe, the tolls and other profits arifing from them. He had 
 the entire regulation of the weights and meafures of the kingdom, a 
 right that was attended with fome profit, until by ftatute 1 1 and 1 2 
 W. III. chap. 20. the office of aulnager (who received certain fees 
 for meafuring cloths for fale) was taken away ; and, as money is the 
 medium of commerce, it was in confequence of the fame prerogative, 
 that the crown enjoyed the right of coining money, and the gain 
 attending it '". Nor were theie the only advantages refulting from this 
 right ; for, in virtue of ading as the arbiter of commerce, the king claimed 
 the lucrative privilege of granting patents and monopolies, which, 
 in the reigns of the firft monarchs of the Stuart race, was particu- 
 larly abufed : nay, the poft-office is properly a mercantile monopoly, 
 which is Hill retained for the benefit of the public, yielding no incon- 
 fiderable revenue. 
 
 6. Ecclefia- Since the reign of Henry VIII. the monarchs of England have been 
 gatives. accounted the head of their people, not only in civil, but in eccle- 
 
 fiaflical matters; and, even before the Reformation, they enjoyed fome 
 privileges and revenues from the church, not, however, attended with 
 much real profit, as they were held under the implied truft of being 
 alone made ufe of for the advantage of the clergy. Without examining 
 the propriety of that reftri£lion, it is fufficient to remark, that either 
 
 '" The profit of coinage was five fliillings in every pound weight of gold ; out of 
 which a (hilling, and fometinies eighteen pence, was given to the mafter of the Mint, 
 for his work and trouble ; and a Ihilling for every pound weight of filver, of which the 
 king referved only a fourth part to himftlf. Afterwards, in the reign of Henry V. the 
 feignorage on filver was raifed to fifteen pence. Sir M. Hales's Sher. Accounts, 
 
 p. 6. 
 
 as
 
 OF THE BRITISH EMPIRE. 25 
 
 as head of the church, or hefore the Reformation, as pofleflmg royal 
 authority, the King claimed a right, i. To the profits of all archbiflioprics; 
 and bifhoprics during a vacancy. 2. To a corody, or a right of com- 
 pelling any of his bi/liops to maintain one of his chaplains, or to giva 
 him a benefice. 3. To the tythes of all extra-parochial dillrids ; and 
 laftly, to the firft fruits and tenths of the livings of the clergy, which 
 they originally paid to the pope ; but which, upon the deflrudtion of his 
 authority in England, were demanded by the King, as his fucceffor in 
 clerical fupremacy. 
 
 Such were the lucrative prerogatives annexed to the fovereignty of 
 England, of which it was thought neceflary to give this brief account, 
 principally extradled from the w^orks of that learned commentator on 
 the laws of England, Sir William Blackftone, who had collefled almoft 
 every thing that either has been, or could be faid upon the fubjeft. 
 The author flatters himfclf, that from this fhort ftatement and explana- 
 tion of the feudal terms, any obfcurity in the following chapters will be 
 prevented. With regard to thefe prerogatives, it may in general be re- 
 marked, that they were of too harfli and individious a nature, to be pro- 
 du(Slive of much income, without occafioning the loudefl complaints : and 
 hence it was found neceffary, by other means, to provide a revenue. 
 
 III. Voluntary Contributions. 
 
 When the income of the public is found inadequate to the national 
 expences, it is natural for a Monarch poffefled of any degree of popu- 
 larity, in the firft place to truft to the voluntary contributions of his 
 fubjeds ; and in the financial hiftory of England, it will be found, that 
 various benevolences or free gifts, were at different times paid by the 
 people. But fupplies of fo precarious and uncertain a nature could not 
 be much depended on ; and it was neceffary at lafl to have recourfe to 
 taxes or contributions, exa(Sted by the government of the country, 
 without particularly confulting the inclinations of the people, in their 
 individual capacity ; a fyftem of revenue, which, though, when abufed, 
 it has given birth to much difcontent, and indeed has occafioned many 
 revolutions, yet has hardly ever been accompanied either with much 
 
 E difgufl,
 
 2(r HISTORY OF THE PUBLIC REVENUE 
 
 difguft, or with great oppreffion, where this rule has heen invariably ad- 
 hered to, 7isver to exa& from any individual^ a fum of money ^ which., con" 
 fjicntly with his circiimfances^ and the fituation of the public, hcought not^ 
 on every principle of juflicc, spontaneously to have given, 
 
 IV. Taxes. 
 
 Taxes are the laft legal expedient for procuring a public revenue, to 
 which a financier can apply. They were not unknown in England prior 
 to the Revolution ; but as they bore no refemblance, either in refpeft to 
 their weight, or the variety and number of their branches, to the im- 
 mcnfe farrago of heavy burdens with which we are now loaded, it is 
 hoped that the following general view of this part of the fubje<3: will 
 fufiice. 
 
 1. Taxes in The fcarcity of money in England, as well as in other kingdoms of 
 
 Europe, prior to the dlfcovery of America, rendered it occafionally ne- 
 ceflary to levy taxes in kind. Of this, fome inftances occur in the 
 Englifh hiftory, particularly in the time of Edward III. who, without 
 either money or fome valuable commodity, could not have carried on 
 his bold attempt of wrefting the crown of France from the houfe of 
 Valois. In the I2th year of his reign, arino 133S, he procured the 
 enormous grant of half the wool in England, amounting to 20,000 
 packs, which was then worth, according to fome authors, 40/. a pack^ 
 and confequently muft have brought in the immenfe fum of 800,000/. 
 Other hiftorians, however, deny that wool vvas at that time fo valuable. 
 
 2. Perfonal Poll taxes, by which a man is compelled to pay for his perfonal ex- 
 j axes. Iftence, have always been accounted peculiarly hateful and oppreflive. 
 
 It is well known, that an attempt to levy fuch a tax in the reign of 
 Richard II. occafioned an infurre£lion under the command of Tyler, 
 Straw, and others, which had nearly ended in a revolution " ; and almoft 
 in every inftance, when attempted in England, they have cither proved 
 obnoxious or unprodudlive. One exception, however, it is neceffary to 
 take notice of. 
 
 3. Taxes on From the period of the Norman invafion, to the eftablifhmcnt of 
 J«w3. ^1^^ Hanfeatic league, the commerce of the northern parts of Europe 
 
 " Stevens's Hiftory of Taxes, p. 118, 
 
 was
 
 OF THE BRITISH EMPIRE. t: 
 
 Tvas principally carried on by the Jews ; and as, in addition to the pro- 
 fits of trade, they enjoyed the more lucrative gains of ufury, it is eafy 
 to perceive that they muft in time have engrofled a great proportion of 
 the wealth of the country. But fuch as were fettled in England, did 
 not long efcape the fatal notice of the fovereign and his minifters ; and 
 23 in confequence of the method in which their riches were acquiYed, 
 and the peculiarity of their drefs and manners, joined to religious pre- 
 judices, they were detefted by the people at large, the king met with no 
 oppofition in oppreffmg and pillaging them, in any way he thought 
 proper. A court denominated the Exchequer of the Jew?, was in- 
 ftituted for the fole purpofe of managing the revenue of Judaifm, as it 
 v/as called, which remained unabolilhed until the year 1290, when the 
 Jews were expelled from England by Edward I. '* 
 
 The fpecies of houfe tax, called Hearth-money, is among the moft 4 Hearth- 
 ancient in the kingdom. It is even mentioned in Doomfday Book, '"°"^^" 
 vmder the name of fumage, or Fuage, and confequently muft have 
 exifted before the Conqueft'\ By Scat. 13 and 14 Car. II. ch. 10. 
 an hereditary revenue of two fliillings for every hearth, in all houfes 
 paying to church and poor, was granted to the crown forever. But as 
 the duty could not be regularly colIed:ed, unlefs the revenue officers 
 were empowered to view the infide of every houfe, it was thought 
 contrary to the principles on which the Englifii government is founded ; 
 and upon that ground, by i W. & M. feff, i. ch. 10, it was utterly 
 taken away, in order (it is faid in the preamble of the bill) " to ere<£l a 
 " lafting monument of their Majefties goodnefs, in every houfe in the 
 *' kingdom." 
 
 But however neceflary it might be, in confequence of the politics of 
 the times, to enadt fo popular a law, yet the real juftice and propriety 
 of fuch an alteration may now be queftioned. The tax might furely 
 be levied without much hardfhip to the poor, or any great encroach- 
 ment upon the nice feelings of the wealthy ; and as the tax upon coals, 
 carried by water, is a great difcouragement to the manufactures and 
 agriculture of the country, checks the increafe of :j.r naval ftrength, and 
 is in every refpecS abfurd and unequal, it is hoped that the time will come 
 
 '* See Maddox's Hift. Excheq. c. 7. and Tovey's Anglia Judaica. 
 " Du Cange, i^w^ Focagiuni. — Spelman, w« Fuage. 
 
 E 2 whea
 
 £8 HISTORY OF THE PUBLIC REVENUE 
 
 when fo Impolitic a duty will be abrogated, and the more equal and 
 falutary tax of Hearth-money eftablifhed in its room. 
 
 I3eforc this part of the fubje£l is concluded, it may be proper to 
 remark, that for fome years portcrior to the Conquefl, there exirtcd in 
 England, a particular kind of Hearth-money, called Moneyage^ or Mint- 
 age money, originally levied in Normandy, and thence imported into 
 this ifland. It was a tax of a fhilling for each Hearth, payable every 
 three years, by way of bounty or recompence to the king, not to alter or 
 debafe the coin, which he was entitled to do by his prerogative. This 
 branch of the revenue '* was aboliflned by the charter of Henry I. and ic 
 was fo particularly obnoxious to the Englifli nation, on account of its. 
 Normanic original, and its repugnance to the laws of the Confeflbr, that 
 none of that monarch's fucceflbrs attempted to revive it. 
 5. Land tax. The origin of land taxes, in this country, may be traced to the duty 
 called Efcuage, or Scutagc, which has been already taken notice of, as re- 
 fulting from the feudal fyftem. At firft, it was levied on the proprietors 
 of land by the royal authority ; but in confequence of this right being 
 abufed, it \yas at lull; declared by Magna Charta, and afterwards repeat- 
 edly confirmed by a£ts of parliament, that no Scutage fliould be impofed 
 without the confent of the great men and commons, in parliament 
 affembled. Thio tax was fometimes exadted, under the name of Hydage, 
 or Carrucage. But taxes t\\ land came, at laft, to be included under the 
 general name of fubfidies, and of monthly aflelTments. 
 b. Taxes oa Nor was perfonal property exempted from incidental burdens. It will 
 perfonal pro- y^^ ^^^^^^ j^^ jj^^ courfe of this Work, that a tenth, or fifteenth part of 
 the moveables, or perfonal eftates of the people, was occafionally given 
 to the king for carrying on his government. Tenths were firft granted 
 in the reign of. Henry II. to enable him to defray the expences of a 
 pious expedition he had projedted, in order to check the pi'ogrefs of 
 Saladine, who threatened to drive the Chriftians from their poiTeflions 
 in Afia " ; and hence it obtained the name of the Saladine Tythe. In 
 the eighth year of the reign of Edward III. this tax was brought to a 
 certainty. A tenth and fifteenth was then raifed, to the fum of 29,000!. 
 
 '♦ Hume, Append. II. p. 132. Mort. vol. i. p. 206. 
 '5 Hume, vol. i. p. 458. Black. Comm. vol. i. p. 308. 
 
 equal
 
 OF THE BRITISH EMPIRE. 29 
 
 equal to 58,000!. of our prefent money '° ; and, ever after, it was afleffed 
 according to that ftandard over the whole kingdom, without any altera- 
 tion in the proportion of each diftricl. 
 
 A fubfidy was properly neither a tax upon perfonal or landed property, 7. Subfidies. 
 but upon income. Every defcription of perfons, in proportion to their re- 
 puted eftates, paid after the nominal rate of four fhillings in the pound 
 for lands, and two fliillings and fixpence for goods, whilft aliens paid in 
 a double proportion. This tax was originally introduced in the reign of 
 Richard II. and was calculated at fo low a valuation, that one lay fubfidy, 
 at the above rates, did not exceed 70,000!. which, in the Ihape cf a 
 modern land tax, would now produce two millions. But it is to be re- 
 marked, that the eftates of the clergy were not included in this fum; for 
 their fubfidies (until the 15th of Charles II.) were granted, not by parlia- 
 ment, but by their own convocation; and a fubfidy from the church, at 
 the rate of four fhillings in the pound, produced about 2o,oooI. Th** laft 
 tax, by this mode of fubfidy, v,-as levied c.Jino 1670; fince which period, 
 it was laid afide, and what is now called the Land Tax, tliough it aU'o 
 impoles a burden upon perfonal property, was eftablifhed in its room. 
 
 The cuftoms were an old branch of the royal revenue. It is faid, 8. Cuflcros. 
 that they were, at firft, fmall fums paid by the merchants for the ufe of 
 the king's warehoufes, weiglits, meafures ", &c. Afterwards, a tax, 
 known under the name of Prifagc., took place, which was in fadt 
 nothing but a branch of purveyance ; in virtue of which, the king's 
 officers feized two tuns of wine from every ihip belonging to England,, 
 importing twenty tuns, or more, in order to fupply the king's hcufeholtl 
 with that valuable article ; and for which they paid at the moderate 
 rate of only twenty fhillings per tun. Merchant ftrangers were ex- 
 empted from the tax of Prifage, but in lieu thereof, paid a duty cf 
 two fliillings for every tun they imported, which was called BiUlcrage^ 
 becaufc it was paid to the king's butler. The fubfidy called Tunnage 
 and Poundage, or a tax upon every tun of wine, and every pound cf 
 merchandife, imported into this country, firfl took place in ti^.e reign of 
 Edward I. But the hiftory of that important branch of the revenue^ 
 and the income which it produced, will more fully appear, in tlie farther 
 progrefs of this work. 
 
 •" Hume, vol. iii. p. rj8. Note Z, vol. vi. p. 193. 
 *' Gilb. Excheq. p. 214. Hume, vol. ii. p. 17-. 
 
 Tlie
 
 JO HISTORY OF THE PUBLIC REVENUE 
 
 9. Exdfe. The exclfe was fiifl eftabllflied in England by the long parliament, 
 
 atitio 1643. ^^ ^^ fuppofed, that the plan was firfl: adopted, in confe- 
 quence of its fuccels in the neighbouring commonwealth of Holland. 
 It is not to be wondered at, that fo efficacious a mode of raifing money, 
 when once it found admittance, fhould be perpetually increafing. Its 
 prefent fize and magnitude, and the variety of its branche?, are well 
 known ; and, unfortunately, it is more likely to receive fome additions, 
 than to fuffer any diminution. 
 
 10. Stamps Nay, the ftamps and poft-office were alfo introduced into this country, 
 oiiicc. prior to the Revolution. The latter, by the long parUament ; and the 
 
 former, by an ad: in the 23d year of the reign of Charles II. for laying 
 impofitions on certain proceedings at law. 
 
 Thus it appears, that there is hardly any produdive tax to which we 
 are now fubjed, which may not be traced to a period earlier than the 
 Revelution, though the duties which then exifled, were neither fo heavy 
 in their amount, nor extended into fo many various branches. 
 
 The prefent fituation of England, however, in regard to financial 
 burdens, cannot juftly be compared with the part, without taking into 
 our confidcration,- the illegal extortions of the fovereign, and the wealth 
 drawn from this country, by the artifices of the church of Rome. 
 
 5. Regal Extortions. 
 
 Hume juftly remarks, " That the ancient kings of England feem to 
 " have put themfelves on the footing of thofe barbarous eaftern princes, 
 *' whom no one durft approach without a prefent ; who fell all their 
 " good offices ; and who intrude themfelves into every bufmefs, that 
 *' they may have a pretence for extortion '°.'' And it is certain, that if 
 the difgraceful means they adopted to procure money, had refted folely 
 on the authority of hiftorians, inflead of remaining in our public records, 
 the Handing monuments and indifputable evidence of their fhameful 
 venality, they would have been rejected as incredible. The exadions to 
 which I allude, are known under the names of Oblations — Queen-Gold 
 — Amerciaments — Talliages — and Farms of Counties ; to which might 
 be added, extorted Benevolences, and compulfive Loans, if they required 
 any particular explanation. 
 
 »» Hift. vol. ii. p. 131. 
 
 Oblations,
 
 OF THE BRITISH EMPIRE. 3t 
 
 Oblations, or Fines, as they were alfo called, are defcribed to be vo- i-O^I^'^wj. 
 luntary proffers of money, or of any other article, or commodity, to pro- 
 cure the favour of the crown, or to deprecate its refentment. It is hardly 
 poflible to enumerate the various fpecies of them, which appear upon 
 the ancient rolls of the revenue ; but it may not be improper to give a 
 fhort view of the moft fmgulur and important. 
 
 1. The Kings of England were, in the firfl place, accuftomed to re- 
 ceive confiderable fums of money for granting, or confirming fights and 
 franchifes of every kind. A few inftances are fufficient to fhow the ge- 
 neral nature of thefe payments. Robert de Cardinan gave ten marks, 
 that he might have a market at the ancient borough of I-cftwithiel '"; the 
 burgefles of York, 200 marks for a confirmation cf their liberties: the 
 burgefles of Bedford paid forty marks, to have the fame liberties as the 
 burgeffes of Oxford : the vintners of Hereford paid forty fliillings, to 
 have the king's grant, that a fextercium of wine might be fold for tea 
 pence, in Hereford, for the fpace of a year ". 
 
 2. A confiderable revenue alfo accrued to the Crown, by the fines 
 which were paid on account of proceedings at law. The fame Sove- 
 reign who pretended to be the fountain of jufl;ice, became too often the 
 fource of iniquity and of oppreffion. Even in the reign of Henry IL 
 who was undoubtedly the befi: of the Norman Princes, there are in- 
 ftances of money being given to the King by feveral of his fubjedls, for ' 
 flopping or fufpending pleas, trials, and judgments, or for expediting 
 them as fpeedily as poflible ; for procuring reftitution of lands, or 
 chattels, or that they might not be dlffeifed ; for obtaining an acquittal 
 of certain crimes, and certain modes of trial, or a difcharge from im- 
 prifonment ; and for infuring the king's protedion, or his mediation ia 
 their affairs *% Nor was it unufual for a creditor, to offer the fovereign 
 a certain portion of the debt, which he, as guardian of the laws, and 
 the executor of juftice, would affift him in recovering". To guard 
 againft fuch fhameful abufes, was the objed of the famous claufe ia 
 
 •« 6 Ric. I. Madox, p. 274. 
 
 •9 For a variety of other inftances; fee Madox's Hift, Excheq. ch. ir, 
 
 ^0 Lytt. Hift. vol. iii. p. 261. 
 
 " Madox, p. 31 1. Hume's Hift. vol. ii. p. 132, 
 
 Magna.
 
 2t - HISTORY OF THE PUBLIC REVENUE 
 
 Magna Cliarta : " Nul/i vetidevius^ Jiulli jicgahhniis ^ au't diffcremns rcFrtim^ 
 *' aiit jiiftitiam '*." 
 
 3. A variety of inftances might alfo be produced, of oblations of fo 
 mircellaneous a nature, that it is impoffible to reduce them under parti- 
 cular heads. Many fines were paid, for leave either to hold or to quit 
 certain oflices. The tenants of the crown, who held in capitc, frequently 
 proffered confidcrable fums of money, that they might not be compelled 
 to marry, or at leaft might be permitted to marry whom they chofc. 
 None were fuffered to exercife commerce, or induftry of any kind, 
 unlefs they furnilhed the crown with money. Thus merchandife, in 
 all its various branches, became a fruitful fource of revenue. Some in-^ 
 fiances likewife occur, of what were called, concurrent fines ^ and counter 
 
 fines : The firll, when both parties concerned in any matter, fmed to 
 obtain the fame thing : The laft, when their requefts to the crown were 
 dire<3;ly oppofite. But it is to be remarked, that though the money 
 was paid by each fuitor, yet that the party who was unfuccefsful in the 
 fuit, had his money returned to him ''^. 
 
 4. Nor was there any profit, however fmall, or any bufinefs, how- 
 ever flrange, unimportant, or even difhonourable, in which the king 
 
 . would net interfere, when an oblation was proftered. Roger, fon of 
 Nicholas, gave twenty lampreys, and twenty fliads, for an inqueft to 
 ' find, whether Gilbert, fon of Alurcd, gave to Roger ti\^ hundred 
 
 muttons, to obtain his confirmation for certain lands, or wlfether Roger 
 took them from him by violence '*. The wife of Hugh de^fjevile (who 
 was probably a prifoner under elofe confinement) gave tli^ king two 
 hundred hens, that flie might fleep with her hufband one night ; and 
 not being able to provide them immediately, her hufband, and Thomas 
 de Sanford, pledged themfelves, that they fhould be delivered within a 
 limited time *\ Peter de Perariis gave twenty marks for leave to fait 
 fiflies, as Peter Chevalier ufed to do. The Abbot of Rucford gave ten 
 marks for leave to erect houfes, and place men upon his lands, near 
 
 '^ Art. 47. ■'^ Lytt. Hift. vol. iii. p. 262. *+ Madox, 305. 
 
 ^5 Ditto, p. 326. Thisfingular Oblation was proffered in the fixth year of the reign 
 of John. Lord Lytteltnn, however, properly remarks, that the ludicrous kind of tyranny 
 which the King exercifed over his,fubje6ls, mud rather be imputed to the charailer of the 
 man, than to the law, or cuftom of the times. Hid. of Hen. II. vol. iii. p. 263. 
 
 I o Welhang,
 
 OF THE BRITISH EMPIRE. 35 
 
 Welhang, to fecure his v/ood there from being ftolen. Ralf Bardolf was 
 fined five marks, for leave to rife from his infirmity : and to the dif- 
 grace of the laws and juftice of England in thofe days, the rich and 
 powerful county of Norfolk thought it neceflary to proffer an oblation 
 of forty marks, in order that it might be fairly dealt with : the burgeffes 
 of Yarmouth, twenty-five marks, that they might be dealt with accord- 
 ing to the king's charters, which they have for their liberties ; and feve- 
 ral hundreds ot Northamptonfliire, fixty marks, that they might be heard 
 without impeachment''*. 
 
 When an oblation was proffered to the king in money, the Queen- 2- Qu«n- 
 confort at the time was entitled to demand from the party, a certain ad- 
 dition to it, founded on the fuppofition, that when the king granted any 
 fpecial favour to any of his fubje£ts, or mitigated any burden or penalty 
 to which they were liable, that fhe had interpofed her good offices in 
 behalf of the fuitor. This ancient perquifite was called Queen Gold, or 
 Aurtim Regina, becaufe the queen received an ounce of gold, for every 
 hundred marks of filver promifed to tfie king ^'. 
 
 The pecuniary punifhments impofed by the fovereigns of England, 3- Amerda. 
 for crimes and trefpaffes committed by their fubjefts, formed another lu- 
 crative and difgraceful branch of their revenue ; and as no limit what- 
 ever was put to thefe amerciaments, until they were fortunately brought 
 within fome reafonable bounds by Mag7ia Charta, many were obliged 
 to pay great fums of money, and were brought to the brink of ruin, for 
 trivial, and fometimes imaginary offences. Among the various inftances 
 which may be found in Madox's Hiflory of the Exchequer", the . 
 following will fuf^iciently explain the nature of thefe exa<flions. The 
 men of Northumberland were ammerced, for not cutting off the feet of 
 their dogs": Harvey, the clerk, for impleading the abbefs of Winton, 
 contrary to the king's command '" : Ralph Fitz Roger, for faying a 
 thing which he afterwards contradided '' : Stephen de Mereflet, pro 
 Jltdto refponfo. Gilbert de Henley, pro folfo di&o : Nicholas, fon of 
 
 ** Madox, Hift. Excheq. p. 295, 296. Thefe infamous tranfadions took place in the 
 reigns of John, and of Henry III. 
 
 *' Dial, de Scaccario, lib. ii. c. 26. Bladcft. Comm, vol. i. p. 219. Lytt. Hift, 
 vol. iii. p. 263. Henry's Hift. vol. iii. p. 351. ^' Chap. 14. 
 
 »9 Madox,p. 388. ^° Ibid. p. 390. " Ibid. p. 388. 
 
 F Liulf,
 
 34 HISTORY OF THE PUBLIC REVENUE 
 
 Liulf, pro Jlulto d'lElo : Henry, the dean, and many otherr., pro Jlitlti- 
 loqiilo '" ; The hundred of Bo£tone, for the default of a certain maid- 
 fervant, who was prefent when a horfe ftruck a man, and killed him ". 
 The amerciaments for the forefts were particularly oppreffive ; and by 
 trefpaffes, defaults, purpreflures, and otherwife, a great revenue was 
 annually raifed from the diftridls in their neighbourhood '\ 
 .. Talliages. The tenants in the royal demefries (in which, originally, all the great 
 towns in the kingdom were comprehended) were alfo fubjeft to certain 
 arbitrary exaclions, called talliages, or cuttings^ becaufe a certain pro- 
 portion of their perfonal property was under this name taken from them, 
 and appropriated to the ufe of the fovereign ^'. In the king's manors 
 and landed cflates, fuch exadions were totally arbitrary ; but in towns, 
 it was a kind of free-gift from all the inhabitants, as a body corporate, 
 who were afiembled together by the juftices itinerant in the courfe of 
 their circuits, in order to be made acquainted with the king's neceffities, 
 and the fum which he expedlcd. If any town, or borough, however, in 
 confequence of this requifition, did not give, according to the wants or 
 expectations of the crown, the jufticiar inquired into their behaviour, 
 and into the manner in which their privileges were made ufe of, and 
 any plaufible pretence was embraced, of iffuing out Sluo Warranto s^ and 
 of confifcating the charters they had received ^\ Thofe who held their 
 land in Frank Almoigne^ or were fubjedl to military fervices, and to the 
 commutation known by the name of Efcuage^ were exempted from 
 this exadtion ". But in procefs of time, when the profits of Efcuage 
 (for reafons which will be afterwards mentioned) were greatly reduced 
 in value and amount ; and when it was perceived, that in confcq,uence 
 of the great wealth acquired by thofe towns which were liable to be 
 talliaged, that they were capable of being made a great and produdive 
 fource of revenue ; it was then that Edward I. faw the propriety of 
 collecting the military and commercial tenants of the crown into one 
 body, and of procuring, by means of fuch an union, not partial aids, 
 but fubfidies from the kingdom in general. The happy effects refulting 
 from this judicious meafure are well known. The public revenue was 
 
 3^ Madox, p. 392. " \\j\i, p. 293. '■* Ibid. p. 272. 
 
 3' Tailiage is derived from the French verb Talller, to cut. See Du Cange GlofT. 
 vice Tallagium. 35 Qilb. Excheq. p. 20, 21. 33, 34. & 192. 
 
 3' Lytt. Hift. vol. ili. p. 156. 
 
 increafcd.
 
 OF THE BRITISH EMPIRE. 3^ 
 
 increafed, and the lower houfe of parliament thus acquired that weight 
 and confcquence in the ftate, which enabled it to eftabliih the rights and 
 liberties of the peorle upon the firaieil: foundations. 
 
 But the ancient kings of England, not contented with thefe exadions, 5- ^^'■"l' 
 
 ° ° ' oi counties. 
 
 were alio accuftomed to let the different counties in the kingdom, in 
 farm, to certain officers, called Sheriffs, who, in confidcration of fums 
 annually paid to the exchequer, were entrufted with powers, too often 
 attended with the greateft oppreflion of the people. Such officers would 
 not exercife much caution in their mode of proceeding, when they were 
 accounted " tbc deputies of the Lord., of the great Stigneiirie of the reaim."" 
 And as the leafes which they received were only annual, that circum- 
 ftance would not tend to diminifh the various abufes, with fuch petty 
 tyrants would naturally be inclined, either to countenance, or to commit, 
 in their refpeftlve diftrids ^^ 
 
 6. Papal Exa6lions. 
 
 Whilft the authority of the Pope was acknowledged in this country, 
 England was deiervcdiy accounted one of the richefl jewels in the papal 
 crown. Without entering minutely into the various exadions of the 
 Roman pontifis, which may be found, at full length, in a volume con- 
 fined to that particular fubjed; ^°, it is fufiicient for our prefent purpofe 
 to remark, that, during the reign of King John, an annual tribute of 
 700 marks was paid for England, and 300 for Ireland ; and that every 
 houfe in the kingdom, in which there was twenty penny worth of 
 goods, paid a penny yearly to the Pontiff, or his legate. This tax 
 was levied with fuch ftriclnefs, that it was held to be a coiftiettido qua/i 
 apojiolica *°. The firft fruits, and tenths, of all the fpiritual livings 
 
 3' Madox, Excheq. p. 223- The particulars of the proficlum commltatis, may be feen in 
 Hales's Sheriffs Accounts, p. 30, 31, 32. The Crown alfo exafled yearly farms, or rentF, 
 from town?, burghs, and gilds. Madox, p. 226. 
 
 5' See the Romifli Horfe Leech, or an impartial Account of the intolerable Charge of Po- 
 pery to this Nation, by Thomas Staveley, Efq; The firft edition was pubjiihedflww 1664, 
 the fecond in 1769. Alfo Egane's Book of Rates, now ufed in the Sin Cuftom-houfe of 
 the Church of Rome, printed anno '673. 
 
 *<■ Sleiden fays, that when Peter's pence was abolifhed by Henry Vllf, it amounted 
 'to the fum of 7500I. per annum. Sec Lawfon's Mite into the Treafury, chap. xi. p. 8i. 
 If this fum arofe from a penny a houfe, there muft have been i,8co,000 houfes in England 
 alone, which is hardly to be credited. 
 
 F 2 ill
 
 •56 HISTORY OF THE PUBLIC REVENUE 
 
 *> 
 
 in the kingdom were alfo exafted, and, befides regular taxes, there 
 were a variety of occafional exadions, as " peniions, cenfes, procura- 
 *' tions, fuits for provifions, and expeditions of bulls, for archbiflioprics 
 " and bilhoprics, and for delegacies ; and the refcripts in caufes of con- 
 " tentions and appeals, jurildidions legatine, difpenfations, licenfes, 
 " faculties, grants, relaxations, abolitions, and infinite forts of bulls, 
 " brieves, and inftruments of fundry natures, names, and kinds, to the 
 " great decay and impoverifliment of the kingdom*'." It is incredible, 
 what fums of money are fuppofed to have been extradled out of this 
 kingdom under thefe pretences ; and how much they contributed to 
 render it difficult for the crown to raife a revenue adequate to the exi- 
 gencies of the flate. 
 Condufion. Such were the burdens to which the inhabitants of EnMand were 
 
 O 
 
 formerly fubjeft. It is certain, that they did notexift at once; and 
 that fometimes one mode of exaftion prevailed, which, in procefs of 
 time, was abandoned in favour of another. But, whatever the laudatores 
 temporis a£Ii may fay, it muft be evident to every impartial perfon, that 
 our anceftors had great reafon to be diflatisfied with their political fitua- 
 tion, even in the article of taxation ; and perhaps the prefent ccra is, in 
 that, as well as in many other refpeds, as defirable a period to live in, as 
 any that can be pointed out in the hiftory of this country ; our additional 
 weight of taxes being fully compenfated, by a more extended commerce, 
 by improvements in every branch of fcience and of art, and by great 
 acceflioios to our wealth, our fecurity, and our freedom. 
 
 *' 25 Henry VIII. cap. I.
 
 OF THE BRITISH EMPIRE. 37 
 
 CHAP. V. 
 
 Of the Revenue of England^ under the Governmejtt of the 
 
 Norman Line. 
 
 IT is natural at the firft glance to imagine, that an infular dominion is 
 peculiarly inacceflible, and eafy to be defended ; that the expence 
 of a maritime expedition, the hazards of the fea, the difficulty attending 
 the landing of troops, and the rifk of famine, joined to the oppofition 
 of the natives, would place almoll unfurmountable obftacles in the way 
 of an invader ; and though, by choofmg a happy moment, one attempt 
 might perhaps Be profperous, yet that many ages would elapfe, before 
 another opportunity, equally fortunate, could poffibly occur. It is fm- 
 gular, however, that Britain has hardly ever been invaded, without 
 having produced an important revolution ; and it may not be improper, 
 briefly to ftate, whence this has proceeded, and what peculiar circum- 
 ftances contributed to render the Norman invafion fuccefsful. 
 
 The more fecure a nation is, or confiders itfelf to be, the lefs precau- 
 tion it will take for its fafety and defence. Deriding the idea of inva- 
 fion, and laughing at the efforts of an enemy, it is unprepared to refift an 
 attack when it adually takes place. If the firil difficulties, therefore, are 
 furmounted, and more efpecially if the invader is fortunate enough to 
 conquer in the firft engagement, he afterwards finds no fortrels to check 
 his progrefs, or to obftrudl his march to any place of which he wifhes to 
 be mafter. The whole country becomes a fcene of tumult, anarchy, and 
 confufion ; and every diftrid ftrives which of them fliall manifeft the 
 greateft readincfs to fubmit to his yoke. 
 
 An invader, qualified for any bold enterprlfe, on the ether hand, is 
 
 thoroughly apprifed of all the difficulties he has to encounter ; and is 
 
 fenfible, that his only profped: of fuccefs depends upon his power and 
 
 dexterity to overcome them. He makes, therefore, every neceflary 
 
 preparation — he proceeds upon a fettled plan — he cautioufly weighs 
 
 every adverfe and untoward circumftance j and never ventures to fet 
 
 out, 
 2 
 
 ^5T390
 
 ^8 HISTORY OF THE PUBLIC REVENUE 
 
 out, without a ftrong probability in his favour, and a full aflurance, If 
 fuccefsful, of being amply rewarded. 
 
 The being pent up. in an ifland, and that ifland pofTelTed by an 
 enemy, without any place of refuge, or hopes of efcape, is a ftrong 
 fpur to the greateft exertions. An ancient general, who was deter- 
 mined to conquer, placed his army, with a deep river behind them, 
 and informed his troops, that they muft either vanquifh the foe, or 
 perifli in the flood. An enemy, by whom an ifland is Invaded, is 
 uniformly In that defperate predicament ; and has no alternative, but 
 either to conquer, or be deftroyed. 
 
 Peculiar circumftances alfo contributed to the fuccefs of the Duke of 
 Normandy. When he made his attempt, the Englifli nation confifted 
 of a motley mixture of Danes and Saxons, who detefted each other, and 
 many of whom had a prediledtion for the Norman manners, language, 
 and government. Edward the Confefl!br Indulged himfelf in this attach- 
 ment to the greateft excefs ; and his example was followed by all the 
 retainers and fervants of the court. 
 
 Though Harold pofTelTed perfonal courage and abilities, yet he was not 
 the legal, hereditary fovereign of the country. The Englifli admired his 
 valour, and they had recently feen all the qualities of a great commander 
 fuccefsfully difplayed againft a formidable army of Norwegians ; but 
 they knew, that he fat upon a throne, to which another was entitled. 
 They fought under his banners therefore, as if they contended rather to 
 fupport their own charadler, and to defend their own rights, than to 
 fecure his crown from the pretenfions of a rival. Indeed, if Harold had 
 not been confidered as an ufurper, they would not have murmured be- 
 caufe the Norwegian booty was withheld, nor would they have aban- 
 doned his colours, in confequence of that difappolntment, or difregarded 
 the orders of their general, when the fate of England depended upon 
 their difcipline and obedience. 
 
 To crown the whole, Edgar iEtheling, the reprefentatlve of the 
 Saxon monarchs, and confequently who had the only legal title to the 
 fovereignty of the country, and to whom, after the death of Harold, 
 the Englifh naturally looked up, had neither experience nor abilities 
 calculated to a£l with vigour in fo critical a jun£ture. He neither knew 
 how to curb the foe, how to conciliate the affedions of his fubjeds, or 
 
 how
 
 OF THE BRITISH EMPIRE. • 39 
 
 how to animate troops difpirited by the overthrow they had received ; 
 and being better fitted for the calm fcenes of private life, than for the 
 tempcft of war or the intrigues of a cabinet, he relied on his infignifi- 
 cance, for at leaft perfonal fafety ; and throwing himfelf at the feet of 
 the Norman, was one of the firft who furniihed an example of fubmiffion 
 to the Conqueror. 
 
 In confequence of thefe fortunate circum fiances, joined to the counte- 
 nance of the Pope, the afliftance of the Englifli clergy, the pretended 
 will and deftination of the Confeflbr, but above all to the prudence of 
 his own condud:, and the ftrong afllirances he gave his new fubjedls, 
 that every attention would be paid to the prefervation of their public 
 liberties, and private rights ; William of Normandy, after having van- 
 quifhed the army of England, and flain its monarch, at the decifive 
 battle of Haflings, was acknowledged the fovereign of the country, and 
 crowned at Weftminfter, with all the forms ufual at fuch folemnities. 
 His pofterity have ever fince fat upon the throne of England. But as 
 Henry the Second was likewife defcended from the old Saxon line, to 
 whom, in the opinion of the Englifh nation, the crown belonged ; and 
 as, in the perfon of that Prince, the former royal race was faid to have 
 been re-eftablifhed, and a new a;ra to have been introduced into the 
 Englifh hiftory, the prefent Chapter is therefore reflriQed to the reigns 
 of the four firft Kings after the Norman invafion. 
 
 Revenue of WILLIAM the Conqueror. 
 
 It has been much controverted, whether William ought to be ac- 
 counted the Conqueror of England, in the plain and literal fenfe of that 
 word ; antiquaries having difcovered, that conqucjliis may be applied 
 not only to an acquifition by force of arms, but alfo by purchafe, or 
 by donation. They have thence contended, that by the Norman 
 Conqueft, ancient hiftorians meant the acquifition of England by the 
 Duke of Normandy, in confequence of the pretended will of the Con- 
 feflfor, and the voluntary fubmiflion of the Englifh. It is certain, that 
 William conduced his meafiares with the greateft art, prudence, and 
 dexterity ; that he foothed the inhabitants of the country, until they 
 were completely in his power : and, perhaps, he would have trufted 
 
 them.
 
 ^o HISTORY OF THE PUBLIC REVENUE 
 
 them, if he could have depended on their fideUty and attachment. But 
 both parties were jealous of each other, and it is impoflible, confiftently 
 with hlftorical evidence, to confider the firft of the Norman monarchs in 
 any other light, than as a conqueror ivho^ partly by force, and partly by 
 Jlratagem, ftibdued a comitry, to the government of ivhich he had no juf 
 prctetfion, and a majority of it'hofe iiibabitafits detcjlcd the tyrant they 
 were fnbjeB to, and would gladly have thrown off his yoke. 
 
 Among the other means purfued by William I. to fecure his acquifi- 
 tion, the following are more particularly conneded with the objedt of 
 this work : namely, the complete eftablifhment of the feudal fyftem — 
 the furvey made of the kingdom in general, and in particular, of the 
 value and extent of the royal domains ; and the inftitution of a court of 
 exchequer, after the model of a fmiilar court in Normandy, 
 
 1. Eftablifli- The enjoyment of landed property, fubjeft to military fervice, is not 
 jpentof the unufuai mode of holding an erftate. It was cuftomary in ancient, as 
 
 feudal fyl- , . . n i • i r> ii 
 
 tern. well as in modem times : it exilted in the Roman, as well as other 
 
 empires. But what diftinguiflied fiefs from every other military fyftem 
 was this, that in the firft place, they were not hereditary ; and fecondly, 
 that in order to remedy this original defedt, a thoufand fubtilties were 
 invented, to fecure the advantages of fuccefilon to the heirs of the 
 original proprietors. Hence arofe wardfhips, reliefs, and other in- 
 cidents, or peculiar charadleriftics of the feudal tenure. Even under 
 the Saxon monarchs, every proprietor of land was bound to affift his 
 fovereign in war, without pay or recompenfe ; and he was alfo fubjedt 
 to a relief, or acknowledgment to his immediate fuperior, when he 
 firft entered into the pofleftion of his eftate. But the various burdens 
 of the feudal fyftem were not completely eftablifhed until after the 
 conqueft. The whole kingdom was then divided into 60,215 knights 
 fees ; the holder of each of which, was not only bound to furnifh a 
 knight, or -armed horfeman, for the public defence, but he was likewife 
 liable to a variety of impofitions, at firft light and eafy, and apparently 
 for the benefit of the vaflal, but afterwards converted, by the fubtile 
 dexterity of the feudal lawyers, into a fyftem fraught with every fpecies 
 -of opprefiTion. 
 
 2. Doomf- The monarchy of England was originally compofed of feven inde- 
 day Book. pendent kingdoms, the fovereign of each of which, was poflefTed of a 
 
 confider-
 
 OF THE BRITISH EMPIRE. 41 
 
 confiderable domain in all the various diftrids of the heptarchy : and 
 as, in confequence of that circumftance, the eftates belonging to the 
 crov/n of England, when the heptarchy was deftroyed, were not only 
 extenfive in themfelves, but difperfed and fcattered over the whole face 
 of the country, they were expofed to great diminution, and could 
 hardly be preferved entire, unlefs frequently furveyed and diftinguifhed 
 from the property of individuals. It is certain, that Alfred completed 
 a furvey of that nature, which, for a long time, was carefully preferved 
 at Winchefler '. In imitation of fo laudable an example, and, as fome 
 imagine, with a view of extending his feudal prerogatives over every 
 diftricl in the country, V/illiam began, and adually finifhed, a furvey, 
 not only of the royal domains, but alfo of all the landed property of the 
 kingdom, fome of the northern counties only excepted ^. Six years 
 were employed in this laborious undertaking. The fruit of it was, that 
 ancient record, lately engraven at the public expence, called Dom-boc^ 
 on account of its being the book which contained the final doom^ or 
 fentence, in what manner each eftate was to be held, and afterwards 
 Doomfday Book (in allufion to the day of judgment), becaufe no man 
 was fpared, but every perfon was obliged to give in a particular account 
 of his eftate '. Its authority was held to be fo final and conclufive, that 
 all controverfies in regard to tenure were decided by it, even in cafes 
 where its evidence proved unfavourable to the crown. 
 
 The extent of the royal domains, and the number of diftrlcls into 3- Court of 
 which they fpread, joined to the great variety of the feudal fources of 
 revenue, rendered it neceflary, foon after the Conqueft, to eredt a new 
 court, called the Court of Exchequer, for the better management of the 
 royal income. Some antiquaries have contended, that an inftitution 
 of a fimilar nature exifted under the Saxon government ; a point 
 which it is unneceffary to enter into, as it is acknowledged, that the 
 
 ' Hearne's Life of Alfred, p. 115. 
 
 ^ This furvey, however, is not fo complete as fome authors pretend. Some cities and 
 towns of note are not mentioned in it, and the greater part of the villages are omitted. It 
 was principally intended to give the king a true account of his own lands and demefnes, and 
 thofe held by his tenants in capite. Rapin, vol. i. p. 177. Note 4. 
 
 ^ Dial, de Scaccario, lib. i. cap. 16. But fome imagine, that DomefJay is a corruption" 
 of Domus Dei, from this book being at firft kept in a church. Hearne's Alfred, p. 115. 
 Note 4. 
 
 G name
 
 42 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 I. Landed 
 liftate. 
 
 2. Voluntary 
 Gifts. 
 
 name is of Norman extradlion, and that it imitated, in a great meafure, 
 the Norman forms and manner of proceeding *. It was founded on prin- 
 cij)les perfectly confonant to thofc on which the Conqueror aded ; whofc 
 great obje£t, at leaft in t'le latter part of his reign, certainly was, to op- 
 prefs a nation of whom he was.jealpus, and whofe fpirit he wifhed to 
 crufh, under the appearance pflaysr,;, and' femhlance of juftice. 
 
 The revenue of William I» may be confidered under four heads — 
 The income of the Royal Domains — Voluntary Gifts — Legal Taxes — 
 Tyrannical Exa'dions. . ; _...,> 
 
 Notwithftanding Williahi's -liherality to tliofe who affifted him in the 
 conqueft of England, and the immenfe eftates which he beftowed upon 
 his particular favourites, yet fpecial care was taken, to refervea domain 
 amply fufficicnt to fupport the dignity of the crown, and to maintain 
 that rude hofpitality for which feudal courts wera diftinguiihed. Indeed, 
 •without that immenfe fupply of provifions, that was .furniflied by; the 
 tenants of their demefnes,, it would have>been impofliblc for the hrft of 
 the Norman monarchs, to have celebrated the feftivals of Chrlftmas, 
 Eafter, and Whitfuntide (when all the great barons of the kingdom, 
 ■with their principal followers, were entertained by their fovereign), with 
 the plenty and abundance to ,be expeded at a royal table. It is to b^ 
 remarked, that this pradice continued until the middle of Henry the 
 Second's reign, by whom, on account of the expence which it occa- 
 fioned, it was finally abolifhed. 
 
 William began his reign, in a manner which tended fo much- to con- 
 ciliate the affedions of his new fubjedls, that they were prevailed upon, 
 foon after his coronation, to make him voluntary gifts and prefents to 
 a confiderable an^ount. The Englifh fondly imagined, that by fuch 
 means they would not only ingratiate themfelves with their fovereign, 
 but would alfo enable him amply to reward his Norman followers, 
 without requiring any tax or addition to his revenue. But, notwith- 
 ftanding the large fums of money, which he thus found means to 
 obtain ; and though he had got pofleflion of the treafures which Harold 
 had amafled, which were not inconfiderable ; yet he foon difcovered, 
 that with money alone, it was impoflible for him to fatisfy a rapacious 
 
 * Dial, de Scaccario, lib. i. cap. 4. Madox, p. 120. 
 
 foldiery.
 
 OF THE BRITISH EMPIRE. 43 
 
 fbldlery, who had joined his ftandard in hopes of durable eftablifhments- 
 in land, and not of a temporary bounty ; and hence it is faid, that he 
 was reduced to the neceffity, of exafperating the Englifh, and driving 
 them to rebellion, in order that he might have a pretence for diftributing 
 their forfeited eftates among his friends and followers. 
 
 The income received by the firft of the Norman monarchs, as Lord 3- Taxes, 
 Paramount, or Feudal Superior of all the lands in England, depended 
 upon fo many contingencies, that it is impoflible to form any eftimate 
 of its value or amount. But in addition to the great but uncertain 
 revenue which he thus received, and the other fources above-mentioned, 
 he joined the odious tax of Danegeld ; at firft, under the ufual pretence 
 of guarding the fea from pirates ; but afterwards, in confequence of an 
 attack he apprehended from Sueno King of Denmark, who intended, it 
 was faid, to vindicate his claim to the throne of England, with all the 
 ftrength and forces of which he was poffefTed. During the reign of 
 William, Danegeld varied from one to fix fhillings/^r hide', according 
 to the exigencies of the crown. But the revival of fo obnoxious an impo- 
 fition, however plaufible the grounds might be, on which it proceeded, 
 gave much difcontent, and greatly contributed to the frequent infurrec- 
 tions, by which his government was difturbed. 
 
 It is alTerted alfo, by fome ancient hiftorians, that William extorted 4- Tyranni- 
 confiderable fums of money from his fubjedts, without any legal pretence : 
 and finding that many of the Englifh, in terror of his exadions, had de- 
 pofited their wealth in monafteries, he ordered them to be fearched ; and 
 not only appropriated to his own ufe, all the money, jewels, plate, and 
 other valuable efFefts, belonging to individuals, which were difcovered 
 there, but alfo feized the very fhrines and chalices of the churches * : ar- 
 ticles which were accounted fo facred and inviolable, in that fuperftitious 
 age, that it is difficult to conceive how a prince, who afFeded fo much 
 zeal for religion, could hazard fuch an attempt. 
 
 The amount of the Conqueror's income has been much difputed. Amount. 
 Ordcricus Vitalh fays, that, befides all the cafual profits of his feudal 
 
 5 Matthew Paris fays, that Danegeld was raifed to ^w fhillings per hide, <mm 1083. 
 He calls \t gravijfima pecuniarurn c.raSfio, p. lo. 
 
 * Matthew Paris, Hift. Angl. folio edit. 1606, p. 10. 
 
 G 2 preroga-
 
 44 HISTORY OF THE PUBLIC REVENUE 
 
 prerogatives, he enjoyed a revenue of about 400,000/. per annum ''. 
 This, in the opinion of two celebrated modern hiftorians, is perfectly in- 
 credible. Hume remarks, that a pound of filver in that age contained 
 three times the weight that it does at prelcnt ; confequently 400,000/. 
 then was equal to 1,200,000/. of our fpecie; and as any given fum of 
 money would then purchafe about ten times more of the neceffaries of 
 life, than at prefent, the Conqueror, according to this calculation, muft 
 have enjoyed an unencumbered annual income, equal to nine or ten 
 millions of the prefent currency. His military tenures, likewife, fur- 
 niflied him with a formidable army without any expence, fo that he 
 muft have exceeded, in real power and opulence, any monarch recorded 
 in hlftory '. Voltaire, though he converts the Conqueror's income only 
 into five millions of modern money, alio contends, that ancient writers 
 muft have been greatly miftaken in their account of his wealth. For 
 the revenue of England, lie fays, including Scotland and Ireland, does 
 not yield fo much, if we dedud what is levied for payment of the na- 
 tional debt^ The fubftradion of any thing on account of the intereft paid 
 to the public creditors, is a very inaccurate and unjuftifiable pofition, 
 becaufe it arifes from taxes levied on the fubje£t, as much as any other 
 part of the national income. But thefe two great authors feem to have 
 carried their fcepticifm too far in this, as they have done in many other 
 inftances. It is probable, that both of them would have been equally 
 incredulous, had they been told thirty years ago, that Great Britain and 
 Ireland could have raifed in the year 1784, a revenue of above fourteen 
 miXXions per annum. After all, it is impoffible totally to difcredit the ac- 
 counts of Vita/is, an hiftorian who was born only nine years after the 
 conqueft, and confequently muft have enjoyed better accefs to inform- 
 ation, than any modern can pretend to. Indeed, without fuch an in- 
 come, it would have been impoffible for the kings of England to have 
 lived with fuch fplendour and magnificence ; to have beftowed fuch li- 
 
 » Or, 1061/. lOs. old. a day. The words of Vitalis are— " Ipfi vero regi (ut fertur), 
 " mille et fexaginta librae fterilenfis monets, folidique triginta, et tres obeli ex juftis red- 
 " ditibus Anglise, per fingulos dies redduntur, exceptls muneribus regiis, et reatuum re- 
 ♦' demptionibus, aliifque multiplicibus negotlis, qua: regis Eerarium quotidie adaugent." 
 L. 4. p. 523. apud Duchef. 
 
 « Hume's Hiftory, vol. i. p. 277. • Gen, Hift. vol. i. p. 166. 
 
 beral
 
 OF THE BRITISH EMPIRE. 45 
 
 beral donations on the church ; to have carried on fo many public works; 
 to have engaged in fo many expenfive wars ; and after all, to have left 
 behind thera fuch confiderable treafures. Sixty thoufand pounds in 
 filver, equal to 900,000/. of modern money'", was found in the Royal 
 Treafury at Winchefter, after the death of the Conqueror; befides gold, 
 jewels, veftment?, and other articles of great value : and as he died in 
 Normandy, where he had alfo large fums of money hoarded up (indeed 
 it was his ufual pradlice to carry a treafure about with him), there is lefs 
 reafon to believe that the accounts given of his wealth and annual in- 
 come, could be greatly exaggerated. Befides, Vitalis is fo particular in 
 the fum he mentions, ftating not only the pounds, but even the number 
 of farthings which William received ; namely, one thoufand and fixty 
 pounds and thirty flilllings and three farthings a day (v/hich is the mode 
 of counting ftill ufed in the exchequer, inftead of one thoufand and fixty- 
 one pounds ten fhillings, &c.), that one would fuppofe his information 
 was derived from authentic records, and was not founded on vague or 
 hafty computations. 
 
 As to the amount of this income in modern money, authors greatly 
 differ. Dr. Henry computes it, as equal in efficacy to 5,808,975/."; 
 Lord Lyttelton, to 5,369,925/."'; and as they both differ fo much from 
 Hume and indeed from other hlftorians, it is eafy to perceive what lati- 
 tude there is in fuch computations for prejudice and fancy ; and, per- 
 haps, on the whole, there is more reafon to conclude, that a modern may 
 err in making fuch calculations, than to fuppofe that an ancient writer 
 could be grofsly miftaken in a plain matter of fa£l ''. 
 
 WILLIAM RUFUS. 
 
 The fecond fon of William the Conqueror, called Rufus, or the Red, 
 on account of the colour of his hair, fucceeded to the throne of Eng- 
 
 "> Henry's Hift. vol. iii. p. 28. " Ibid. vol. iii. p. 352. "^ Hift. vol. iii. p. 454. 
 
 '3 1 he Conqueror's income muft have arifen, firft, from the tax of Danegeld, which at 
 fix (billings per hide would produce 73,0801. ; and fecondly, from the rents of his domains, 
 which, it is more than probable, would make up the deficiency. This is a point, however, 
 which muft foonbe afcertained, as our antiquaries will now be able, from the publication 
 of Domefday-hook, fully to explain the value of the Royal Domains, and the income which 
 they produced. 
 
 land.
 
 46 HISTORY OF THE PUBLIC REVENMJE 
 
 land, in conra.iuence of his father's deftination, the remiffnefs of his 
 brother Robert, his own a£tivity, and the attachment of Lanfranc 
 Archbilhop of Canterbury, by whom he had been educated, and who 
 poifcfled great weight and authority with the Enghfh. The thirteen 
 years during which this tyrant governed England, was a perpetual feries 
 of extortions, of which the church in particular had great reafon to 
 complain. It was an ufual pradice with him, when any Bifhopric or 
 Abbey became vacant, to feize all its temporalities, and to farm them 
 out to his favourites, or to thofe who made him the higheft offer ; and 
 when any circumftance induced him to fill the vacancy, he exacted 
 confiderable fums from thofe who were appointed. The plunder he 
 collected from the church muft have been very great, when it is con- 
 fidered that, at his death, he held in his own hands the Archbifliopric 
 of Canterbury, the Biflioprics of Winchefter and of Salifbury, and twelve 
 of the richeft Abbacies in England '*. 
 
 Nor were the laity lefs harafled by his extortions ". A tax of four 
 fliillings for every hide of land in the kingdom, was levied, to enable 
 him to acquire the pofleffion of Normandy. Great fums were extorted, 
 under the name oi bencvolencs or free gifts, though, in fadl, they were 
 compulfatory ; for it was well known that the king would punifh thofe 
 Anno 1096. who refufed to contribute. In the fixth year of his reign, he enlifted 
 troops for an expedition into Normandy ; and when they were aflem- 
 bled, in order to be embarked, either finding their affiftance unnecefTary, 
 or imagining that a fum of money would anfwer his purpofe better, he 
 exadled ten fhillings from each man, under the pretence of defraying 
 the expence he had been put to in furnifhing them with provifions '*. 
 In fhort, he was unqueftionably well entitled to the name of the Red 
 Dragon^ by which appellation his miferable fubjeds attempted briefly to 
 defcribe his violence and rapacity. 
 
 The hiftory of this monarch furniflies an ufeful leflbn on the vanity 
 of human ambition. He fucceeded to the throne of England, contrary 
 to the hereditary pretenfions of an elder brother, diftinguifhed for 
 valour and military fkiH. He found means to acquire, from that very 
 brother, the pofleffion of the dutchy of Normandy, in confideration of 
 
 '♦ Matt. Paris, p. 52. 's Ibid, p. 42. »« Ibid. p. 16. 
 
 ten
 
 OF TFIE BRITISH EMPIRE. jq 
 
 ten thoufand marks, advanced to him by way of mortgage; a fum which, 
 though very inadequate to its value, yet enabled Robert to undertake 
 his favourite enterprife (an expedition for the recovery of Jerfufalem) 
 in a manner fuitable to his dignity and ftation. Rufus had entered into 
 an agreement with William Duke of Aqultaine, who was feized with 
 the fame phrenzy of devotion ; and, had not his death prevented it, he 
 would foon have been mafter of that important dutchy for a fimilar 
 confideration : nay, it was commonly fuppofed, that he intended to 
 embrace any favourable opportunity that might occur, of attempting the 
 acquifition or the conqueft of France, either by corruption or force. 
 But, in the midft of his ambitious projedts, whilft engaged in his favourite 
 diverfion of hunting, he was pierced by an arrow, which put a period 
 to his days ; and it has never been clearly afcertairied by whofe hand he 
 fell, or whether his death was occafioned by any fortuitous accident, or 
 was purpofely efFefted.. 
 
 H E N R Y I. 
 
 The. abfence of the Duke of Normandy, who had not yet returned 
 from his crufade, furnifhed Henry, the Conqueror's third fon, with an 
 opportunity of mounting the throae fo unexpectedly vacant by the death 
 of Rufus. Not an inftant was loft in taking every ftep necefl'ary for 
 that purpofe. The regalia, and the royal treafures, kept at Winchefter, 
 were firft taken pofleffion of. A council was hallily aftembled at London^ 
 by whom his title to the crown was recognized ; and, in lefs than three 
 days after his brother's death, the ceremony of his coronation was per- 
 formed at Weftminfter, hy Maurice Bilhop of London. The whole 
 v/as conduded in a manner, which inipreffes us with a favourable idea 
 of his vigour and abilities. 
 
 As Henry's title to the throne was highly queftionable, he found it 
 neceffary, in order to conciliate the afFedions of his fubjedts, to purfue^ a 
 fyftem of government veiy different from that of his brother : accordingly, /^nno i loo. 
 foon after his coronation, he granted a charter, which contained many 
 articles highly favourable to the liberties of the people. It was the bafis on 
 which Magna Cbarta itfelf was founded ; and it fully proves at what an 
 
 early
 
 HISTORY OF THE PUBLIC REVENUE 
 
 early period the Englifli were attentive to the prefervation of their rights 
 and privileges, and that no fit opportunity was loft to have them afcer- 
 tained. 
 
 Though this king is, in general, reprefented by our hiftorians in a very 
 advantageous light, yet he is acculed of having occafionally forgotten his 
 engagements to the public. 'Contrary to an exprefs claufe of the char- 
 ter he had granted, he feized the temporalities of the archbifhopric of 
 Canterbury, fold the woods belonging to it, plundered the tenants, and 
 kept pofleffion of its revenues for above five years. His levying three 
 fhillings on every hide of land, when his daughter Matilda was married 
 to Henry IV. Emperor of Germany, may be juftified upon feudal prin- 
 ciples ; but the fpecific fum he demanded (amounting, it is fuppoied, to 
 about 800,000/. of modern currency) was to the greateft degree op- 
 preffive ''. The exadtions of this monarch, however, are to be attri- 
 buted, principally to his great anxiety, at firft to acquire, and afterwards 
 to preferve the dutchy of Normandy ; a re-union with which, many of 
 his Englifh fubjedts confidered to be eflTential. In the fifth year of his 
 reign, they were particularly opprefled, to raife a fum of money for de 
 fraying the charges of an expedition to the continent, upon which the 
 pofleffion of that dutchy depended. A tax was laid even upon churches; 
 and every incumbent was made anfwerable for the rate at which 
 his parifh-church was aflefled ". Many heavy taxes were alfo laid 
 on, in the feventeenth year of his reign, in confequence of a war he 
 was obliged to carry on againft the King of France, for the fecurity of 
 Normandy''. 
 
 The reign of Henry is diftinguifhed by a very important alteration in 
 regard to his revenue. We are informed by Gervas of Tilbury, in his 
 famous Dialogue on the Exchequer", that the rents of the Royal Do- 
 mains, for many years after the Norman Conqueft, were principally paid 
 in kind ; and that, in the reign of this monarch, they were converted 
 
 " Brady, vol. ii. p. 270. 
 
 " During the rage of this oppreflion, Henry was met, in his road to London, by two 
 ■hundred parifh priefts in their furplices, who, on their bare knees, petitioned for fome miti- 
 gation of fo opprefSve an impofition ; but their entreaties were inefFe(3ual : for Henry never 
 fufFerc-d pity to get the better of intereft. Morr. vol. i. p. 212. Note. 
 
 •3 Stevens, p. 18. *^ Lib.i. cb. 7. 
 
 .4 into
 
 OF THE BRITISH EMPIRE. 45 
 
 into money*'. As Henry lived much in Normandy, and was engaged 
 in many foreign expeditions, money was particularly convenient to him ; 
 and in confequence of the fcarcity of fpecie at that time, the converfion 
 was made on terms highly favourable to the vaflhl, an ox being only 
 valued at one fhilling, and a fheep at four pence. Both parties were then 
 fatisfied ; but it is certain that Henry's rucccfTors had much reafon to 
 complain of the inadequate compofition he had accepted of: for it not 
 a little diminifhed, at an after-period, the relative value and amount of 
 the royal income ; and greatly contributed to the future poverty and ne« 
 ceflities of the crown. 
 
 STEPHEN. 
 
 The attempt of Stephen to feat himfelf upon the throne of England, 
 is one of the boldefl: enterprizes recorded in hiftory. He was the grand- 
 fon, it is true, of William the Conqueror, whofe daughter Adela had. 
 been married to his father the Earl of Blois, but he was the third fon of 
 that marriage ; and, as both his elder brothers were living, he had no he- 
 reditary claim to the fucceffion. He oppofed the daughter of a fove- 
 reign who had long reigned over the Englifh; and v/hofe government, 
 though fometimes harlh and oppreffive, was in general popular. His 
 rival, the Emprefs Matilda, indifputably reprefented the Norman, and 
 had fome pretenfions to the inheritance of the Saxon fovereigns of Eng- 
 land. Nor could he truft to the effeds of his lavifh promifes to 
 the Englifh nation, of maintaining a ftrift regard to the prefervation. 
 of their rights and privileges ; for having abandoned the folemn en- 
 gagements he had contracted to fupport the emprefs in her fucceffion 
 to her father, it was natural to fuppofe that he could not be depended 
 on to fulfil any other obligation. But fuch was the unfettled date 
 of fucceffion to' the crown ; fo much were the people of that age 
 delighted with bold and daring enterprizes, and fo attached to men. 
 of gallantry and fpirit, that Stephen found his attempts fuccefsful 
 beyond his moft fanguine expedlations. He was anointed Iving of 
 
 »• Madox, Excheq. p. 186. Carte's Hift. of England, vol. i. p. 518. Hales's Sher, 
 Accounts, p. 22. Dalrymp. of Feudal Prop. p. 27. 
 
 H England
 
 50 HISTORY OF THE PUBLIC REVENUE 
 
 England foon after his arrival, and afTumed the exercife of the royal 
 authority with hardly any oppofition. 
 
 The reign of this monarch pafled in perpetual war and civil blood- 
 fhed. During the whole period, the nation is reprefented to have been 
 in a ftate the moft deplorable. Some forfook their native country, to 
 avoid the miferies under which if groaned. A multitude of foreign 
 mercenaries brought over by Stephen to aflift him in his ulurpation, 
 and to fjpport his authority, fpread horror and devaftation wherever 
 they went. Many who had lived in opulence were glad to fhelter them- 
 felves in the meaneft cottages, and to feed upon dogs and carrion — the 
 fields lay fallow and negledcd — commerce and induftry were abandoned- 
 towns of confiderable note were deferted by their inhabitants ; nor was 
 any place, however iltcred or remote, exempted from the general cala- 
 mity ". Such is the defcription given us of the ftate of England during 
 the reign of this ufurper, who at the fame time was a prince (if we may 
 judge from fome traits of his character) well qualified to have promoted 
 the happinefs and profperity of his fubjedls, had he fucceeded by a juft 
 title, or had he enjoyed the undifturbed poffefllon and government of the 
 country '\ 
 
 Stephen had promifed on his coronation day, for ever to remit the 
 odious tax of Danegeld ; but the neceflity of his affairs compelled him to 
 exa£t it, notwithftanding his oath, and a charter which he had granted. 
 It was the only regular tax he impofed. For during the greateft part 
 of his reign, the only means he had of fupporting his troops, and main- 
 taining his dignity, was by plunder and extortion. He is alfo accufed 
 of having alienated the demefnes of the crown, of having debafed the 
 coin, and of felling to the higheft bidder, honours, offices, dignities, and 
 benefices in the church, the laft pitiful refourc.e of a profufe and indigent 
 monarch. 
 Condofion. It appears from this chapter, what little progrefs had been made in 
 the knowledge of finance, from the Norman invafion to the death of 
 Stephen. During the whole period, it was underftood, that the king 
 fhould live upon his own domains, and the profits of his feudal prero- 
 
 " Lytt. vol. i. p. 328. and vol. ii. p. 133. Stevens, p. 21. 
 '3 Hume, vol. i. p. 369. 
 
 gatives :
 
 OF THE BRITISH EMPIRE, 51 
 
 gatlves ; and every fpecies of taxation (military fervices only excepted) 
 was the objed of averfion and difguft. Danegeld, the only regular tax 
 that exifted at the time, though perhaps neceflary for the protection of 
 the commerce of the nation, was confidered as fo peculiarly fevere, that 
 every monarch who attempted to levy it, was accounted a tyrant and 
 an opprefTor, and that fmgle tax occafioned as many complaints, and as 
 great an outcry, as the whole load of multifarious impofls, to which this 
 country is at prefent fubjedt. 
 
 CHAP. VI. 
 
 Of the Revenue of Engla?id, during the Saxon Liney of* 
 
 Hpufe of Plantagenet, 
 
 'T^HE hlftory of England, and indeed of every other country fub— 
 je£t to a monarchical form of government, clearly demonftrates 
 the manifold advantages refulting from a ftrid: hereditary fucceflion»- 
 Whenever any doubt exifts to whom the crown legally belongs, difputes- 
 will arife ; and turbulent and ambitious men will embrace the party 
 which feems the moft likely to be of the greateft advantage to themfelves, 
 without regarding the welfare or fafety of the State. The country is thus 
 ruined by a competition between rivals, perhaps equally worthlefs; and, 
 after all, the conteft is determined, not in favour of him who has the beft 
 title, or who will govern beft, but of him who makes the moft lavifli 
 promifes, or who is able to command the greateft number of bold and 
 defperate adherents. It was by means of fuch promifes, and fuch fup- 
 port, that Stephen vindicated his pretenfions to the crown of England, 
 to which another was legally intitled ; at leaft, if the immediate de~ 
 fcendants of William, the Norman had a right to the fovereignty. 
 
 H 2 But
 
 52 HISTORY OF THE PUBLIC REVENUE 
 
 But Henry II. not only claimed the crown, as lineally defcended 
 from the (Conqueror, but alio as in Ibme meafure ' reprefenting the 
 Saxon monarchs of England. His mother, the Emprefs Matilda, was 
 defcended from Edmund Ironfide, the laft of the Saxon race who left 
 any pofterity. Edmund's fon, known by the name of Edward the (.)ut- 
 law, had two children, Edgar Etheling, who died without iffiie, and 
 Mar<^aret, in whom the Saxon hereditary right confequently refided. 
 By her hufband, Malcolm king of Scotland, fhe had feveral children, 
 and among the reft, Matilda, the wife of Henry I. who by him had 
 the Emprefs Maud, mother of Henry II. — At the fame time, it muft be 
 acknowledged, that he could not claim an hereditary right to the king- 
 dom, by a regular courfe of fuccefhon from the royal Saxon family ; 
 for the fons of Margaret unqueftionably inherited her rights in pre- 
 ference to her daughter, and confequently her title to the crown de- 
 volved on her grandfon David King of Scotland : however, Elenry's 
 connexion with the royal Saxon family was luch, that it endeared him 
 not a little to the Englifh nation ; and they fondly imagined, that they 
 faw another Alfred feated upon the throne. 
 
 In conformity therefore to a very ancient prejudice, we fliall confider 
 Henry's acceffion, as the reftoration of the old Saxon line, though that 
 event did not, ftridlly fpeaking, take place, until James I., the lineal heir 
 and reprefentative of Margaret, fucceeded to the crown. 
 
 Revenue of Henry II. 
 
 Among the various meafures taken by this monarch after his acceffion, 
 perhaps the boldeft and moft important was, the refumption of fuch 
 of the crown-lands, as had been granted by his predeceflbr Stephen, 
 and even by his mother, the Emprefs Matilda. And here it is neceffary 
 to take notice of a very material diftindion in regard to the royal 
 demefnes. The ancient patrimony of the crown, called in Doomfday- 
 book Terra Regis, was held to be fo unalienable, that if any portion 
 of it was given away, either the king by whom it was granted, or any 
 
 ' Black, vol. i. p. 201. Lytt. vol. i. p. 223. Matthew Paris traces his Saxon genea- 
 logy from the Flood, p, 90. 
 
 of
 
 OF THE BRITISH EMPIRE. 
 
 of his rucceflbrs, could at any time refume the donation. Whereas 
 lands which efcheated to the crown, in confequence of a default of heirs, 
 or any feudal delinquency, it was in the power of the fovereign to 
 difpofe of, in any manner he thought proper. This diftindion was, at 
 different periods of the Englilh hiftory, produdive of very oppofite 
 effeds. At firft, when a prejudice ran in favour of the unalienahility of 
 the public domains, it was difficult to fupport any grant, even of lands 
 which the crown had acquired by any mode of confifcation or efcheat. 
 But when the popular cry took an oppofite diredion, it was held impof- 
 fible to diftinguifh between the two kinds of domain : the one became 
 gradually confounded with the other ; and hence the king acquired the 
 right of alienating both. The crown was thus enabled to diffipate the 
 immenfe landed property which it originally poffefled, and which, 
 had it remained undiminilhed, muft have rendered our kings perfedly 
 independent, and almoft uncontroulable. 
 
 The refumption, by Henry, was unqueftionably juftifiable. In the 
 treaty with Stephen, that monarch became bound to refume what had 
 been alienated to the nobles, or ufurped by them of the royal demefnes': 
 and though Stephen had negleded to carry this article of the treaty of 
 Winchefter into execution, yet it was neceflary for Henry to enforce ir, 
 in confequence of the exorbitant grants which had been made by his 
 predeceflbr, and the confequent poverty of the crown. He therefore 
 fiimmoned a parliament, and having laid before it his diftrefled fituation, 
 the illegality of the grants in queftion, and the neceffity of an immediate 
 refumption, he obtained the concurrence and authority of that affembly 
 for fo effential a purpofe. Little difficulty was found in refuming the 
 grants made by Stephen, whofe neceffities had compelled him to alienate 
 the royal domains in a manner not to be juftified. But thofe which 
 had been given by the Emprefs, and with which fbe had recompenfed 
 the greateft and moft meritorious fervices to herfelf and family, her 
 adherents fcrupled to reflore. Henry, however, was determined to 
 make no diftindion ; and, after fome oppofition, adually recovered the 
 pofleffiion of all the landed property which Henry I. had enjoyed ; thofe 
 lands only excepted, that had been granted to the church, which that 
 
 * Lytt. Hift. vol. ii. p. 256. 290. 
 
 powerful 
 
 53
 
 ^4- HISTORY OF THE PUBLIC REVENUE 
 
 powerful and politic body, in the original treaty of Winchefter, had 
 taken care to fecure. 
 'Dcfeasof " The military force, eftablifhed by the feudal inftitutions (it is re- 
 
 fyflein" ^ " marked by a great hiftorian), was extremely burthenfome to the fub- 
 " je£t, yet rendered very little fervice to the fovereign. The barons, 
 " or military tenants, came late into the held ; they were obliged to 
 " ferve only forty days ; they were unfkilful and diforderly in all their 
 " operations ; and they were apt to carry into the camp, the fame 
 " refracStory and independent fpirit, to which they were accuftomed 
 " in their civil government ^" Such a military eftablifhment might, 
 by great attention and by frequent exercife, prove a fafe and adequate 
 defence to dominions entirely infular, but was ill calculated for the 
 exigencies of thofe foreign wars which the crown of England was fo 
 frequently engaged in at that time, in confequence of its continental 
 poflellions *. 
 
 Origin of Henry, it is probable, had the merit of firft difcovering a remedy 
 
 for this defed:. It was originally attempted in the fecond year of his 
 reign, when, in order to carry on a war againft the Wellh, he laid a 
 duty, or fcutagc, as it was called, of twenty fhillings for each knight's 
 fee, upon the eftates of thofe prelates who were bound to military 
 fervices '. Many fcutages were afterwards levied in the courfe of his 
 reign. In particular, one for carrying on the war of Touloufe, which 
 amounted to the fum of 180,000/. equal to 2,700,000/. of modern 
 ■ money *. This commutation, though heavy, was, on the whole, lefs 
 burdenfome to the vaffals of the crown, than to perform their fervices 
 in perfon. For, befides the expence of going to war in a diftant 
 country, and returning from it at their own charges when the campaign 
 was over, their affairs at home were neglected, their eftates were 
 fuffered to lie wafte, and thus, in addition to the hazards of war, they 
 were fubjedl to a thoufand domeftic inconveniences. It was a plan, at 
 the fame time, attended with much advantage to the crown ; as inftead 
 ef troops, though brave, yet diforderly and untradable, it was thus 
 
 3 Hume's Hift. vol. i. p. 468. See alfo Carte, vol. i. p. 570. 731: 
 
 ♦ Lytt. Hift. vol. ii. p. 429. s Maddox's Hift. of Excheq. p. 435. 
 
 ' Lytt Hift. vol. ii. p. 429. 
 
 enabled
 
 OF THE BRITISH EMPIRE. 55 
 
 enabled to purchafe the fervlces of real foldiers, equally martial and better 
 difciplined '. 
 
 But the religious zeal, fo prevalent at that time, gave rife to a new Firft tax oa 
 impofition, with which England had been hitherto unacquainted °. It ''ro'°ert" 
 was a tax on perfonal property, and it was levied in a very fmgular 
 manner. A cheft was eredled in the different churches, into which 
 every man, after having taken an oath, and juftly fummed up the value 
 of his effects, and the debts of which he had a certainty of being paid, 
 was obliged to put in two pence in the pound for the firft year, and a 
 penny in the pound for the four following years, under the penalty of 
 his breaking his oath, and incurring the fentence of excommunication 
 denounced againft thofe who aded fraudulently '. This was the firft tax 
 on perfonal property known in England; and though it amounted to 
 fix pence in the pound only, it would not probably have been eafily fub- 
 mitted to, had it not been appropriated for fo popular a purpofe as that 
 of affifting the chriftians in the eaft, who were then threatened with 
 expulfion. 
 
 This contribution, however, did not much avail. At leaft, anno 1 188, Sahdlnc 
 more powerful alTiftance became neceffary '". For in that year, intelli- 
 gence arrived from Paleftine, that Jerufalem, the darling conqueft of 
 the chriftian world, had been taken by Saladine, the fultan of Egypt, 
 and that he was preparing to drive the worfhippers of the crofs from 
 their remaining poffeffions in Afia. The greateft potentates in Europe, 
 alarmed at the news, confederated together to check the progrefs of fo 
 formidable a conqueror, and, if pofTible, to recover the holy city from 
 the hands of the infidels. Not only Henry, but the emperor Frederic I. 
 and Philip, king of France, determined, with their united forces, to 
 engage in this crufade. A council of the biftiops and nobility of 
 England was foon after held, to confider of the beft means to raife the 
 neceffary fupplies ; and at laft it was determined, to levy a tax of a 
 tenth part of all the perfonal property of thofe, who, remaining at home, 
 took no Ihare in fo pious an enterprife. This, which is the firft inftance 
 
 ' Hume, vol. ii. p. 265. ' Anno 1166. 12 Henry II. 
 
 ' Stevens's Hift. p. 28, 29, 30. Carte's Hift. vol. i. p. 599. M. Paris, p. loi. on 
 the other hand, fays, that four pence was colleded from every ploughland. 
 '" 35 Hen. 2. See Hoveden, p. 366. 
 
 10 of 
 
 tune.
 
 rj5 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Feudal aid 
 
 pur fille 
 
 Panegeld. 
 
 of a tenth being exaded, was called the Saladine Tithcy from the name 
 of the gallant Muflulman, vvhofe valour gave rife to this impofuion ". 
 It is faid, that the Englifh paid above 70,000/. and the Jews in England 
 about 60,000/. as their refpedtive proportions of the tax, which, when 
 joined together, was equal to about two millions of modern money. 
 The difproportion was very great : but it is to be confidered, that 
 none of the Jews were exempted ; whereas many of the wealthieft of 
 the Englifli, in confequence of their having taken the crofs, pleaded 
 immunity from the impofl:. Nay, the greater part of the regular clergy 
 were freed from the burden, having contended that they were obliged 
 by their prayers only to affift the crufade, their lands being held in 
 frank almoigfie^ a tenure which exempted them from all duties but reli- 
 gious exercifes. 
 
 In the thirteenth year of his reign, Henry having married his 
 daughter Matilda to the Duke of Saxony, levied an aid from his fub- 
 je£ls, to enable him to give her a portion adequate to her rank, and that 
 of her hufband. This tax amounted to one mark for each knight's- 
 fee. It was paid by the feveral knights and barons holding of the crown 
 /// capite^ according to the number of their refpedive fees. Nor were 
 the bifhops or abbots exempted from this impofition ". 
 
 The odious tax of Danegeld, though levied in the beginning of 
 Henry's reign, was either totally remitted by this monarch, or fell into 
 difufe. There is much uncertainty in our public records, as to the final 
 extindlion of this tax, which Aladox, with all his knowledge and in- 
 duftry, has not been able clearly to develope '\ After the fecond year of 
 Henry II. he conjedures, that it was not a fettled part of the public 
 revenue. Perhaps it was difficult, however, at once, totally to abandon 
 fo confiderable a branch of the royal income ; and there is reafon to 
 believe, that it was occafionally levied, particularly in the thirteenth and 
 twentieth years of Henry's reign, and probably in the twenty-firft, 
 when writs of fummons, for that purpofe, were iflued out of the ex- 
 chequer. 
 
 Some authors have accufed this monarch of pillaging the pofleffions 
 of the church ; of executing, with the greateft rigour, the harih regula-» 
 
 »• Carte, vol.!. p. 719. 
 
 »* Madox, Excheq. p. 398. 
 
 '3 Ibid. p. 478 & 4,79; 
 tions
 
 OF THE BRITISH EMPIRE. 5; 
 
 tions of the foreft laws ; and of reviving the old Saxon taxes of Burg- 
 bote, Drig-bote, Heregeld and Honigeld '*. But, on the whole, there 
 feems to have been little reafon to complain of the general tenor of his 
 government ; and it is recorded, much to his honour, that having been 
 for fome time abfent from England, and finding, upon his return, that 
 great abufes had taken place in the colledion of his revenues, and 
 indeed in the adminiftration of juftice, he appointed a Gommifllon of 
 fome of the moft refpedlable of ' his fubjedts, to inquire fully into the 
 grievances that were complained of; and, in confequence of their re- 
 port, many of the fheriffs, and other officers ,of the crown, were removed, 
 and obliged to give fatlsfad;ion, not only to the king, but to any private 
 individuals who were injured ". 
 
 The amount of the treafure which Henry left behind him, is a point Treafure. 
 about which hiftorians differ. Hume ftates it only at an hundred thoufand 
 marks'*. But Matthew Paris, and other authors, affirm, that it amounted 
 to 900,00c/. in gold and filver, befides plate, jewels, and precious 
 ftones ". The former account, however, is the more probable ; for, 
 with fo great a treafure as Matthew Paris fuppofes this monarch to have 
 been mafter of, he muft have carried on the war, in the latter part of his 
 reign, with more fpirit, and with more fuccefs ; and would not have been 
 reduced, a few days before he died, to the hard neceffity of ratifying a 
 treaty, which impofed terms equally ruinous and difgraccful, and which 
 tarnifhed all the glory and renown he had formerly acquired. 
 
 RICHARD I. 
 
 The reigns of heroes, or of martial monarchs, however advantageous to 
 the military charader, yet are uniformly deftruflive to the property, and 
 baneful to the commercial interefts of a nation. The fubjeds of fuch 
 monarchs, though in general uninterefted in the fuccefs of the wars in 
 which they are engaged ; and though, if fuccefsful, the glory wholly 
 centers in the fovereign, yet are under the neceffity of defraying the heavy 
 load of expence, which the wildnefs of their ambition occafions ; and 
 thus the folid interefts of a nation are facrificed, to gratify the pride, to 
 
 •♦ Stevens, p. 34. 's Lytt. Hift. vol. iv. p. 292. "^ Vol. ii. p. 5. 
 
 " Matth. Paris, p. 147. Carte, vol. i. p. 738. 
 
 I indulge
 
 58 HISTORY OF THE PUBLIC REVENUE 
 
 indulge thepaflions, and topromote the aggrandizement, of one arrogant 
 or vain-glorious individual. Notwithftanding thefe circumftances, the 
 reign of Richard Cceur de L'lon^ or the Lion-hearted, is a favourite 
 one with the Englifli reader, who fondly fancies, that, by his valour, 
 the fame of England was eftablifhed in the moft diftant corners of the 
 Eaft. 
 
 TheCrufade. The preparations made by Richard for his expedition, are a full proof 
 of that monarch's zeal for the enterprife he had undertaken ; and in- 
 deed, if his fubjeds had not entered into it with the fame alacrity, they 
 could hardly have fuffered him to take fteps of fo opprefTive and danger- 
 ous a nature. Every means that could be invented for raifmg money, 
 was adopted without hefitation. The crown lands, and offices of the 
 greateft truft and power, were difpofed of, almoft at any price. The 
 feudal fuperiority of Scotland was fold for ten thoufand marks. Arbitrary 
 fines were levied from the officers of the crown, under the pretence of 
 delinquency. The rich, who had efcaped other modes of extortion, 
 were compelled to fupply the king with money by way of loan, without 
 any hope of being repaid. Nay, under colour that the great feal was 
 loft, former grants were held to be invalid. A new feal was made, and 
 every perfon was obliged to purchafe a renewal and confirmation of his 
 grant. It is faid, that, by thefe and other* means of exadlions equally 
 odious, fo much money was raifed, and carried out of the kingdom, that 
 a genuine coin, of this monarch's ftamp, is hardly to be met with, in the 
 moft valuable and curious colledions'*. 
 
 Richard's The confequence of this monarch's expedition to the Eaft, the re- 
 
 nown he acquired in the courfe of the war, and his difgraceful captivity 
 on his return home, are circumftances well known to every perfon in 
 the leaft converfant with the Englifh hiftory. Leopold, duke of Auftria, 
 and Henry, emperor of Germany, by whom Richard was imprifoned, 
 having demanded the exorbitant fum of a hundred and fifty thoufand 
 marks for his releafe, a heavy tax was laid upon his fubjedts, in aid of 
 the king's ranfom, to which the vaflals of the crown were bound by 
 the nature of their tenures. England had not yet recovered the lofs of 
 fpecie, which it had fuftained by Richard's former extortions, and the 
 
 " Pari. Hift. vol. i. p. ig. 
 
 treafure 
 
 ranfom.
 
 OF THE BRITISH EMPIRE. 59 
 
 treafure that he carried with him to Afia. At a time when money was 
 fcarce in Europe, and the commerce of England was inconfiderable, a 
 frefh fupply of fpecie was not eafily procured j it v/as, therefore, with the 
 utmoft difficulty, that the firft payment of 100,000 marks was made, 
 though his fubjeds, notwithftanding the variety of taxes Irapofed upon 
 them at that time, vied with each other, which of them fhould pay in the 
 greateft voluntary contributions for the ranfom of their fovereign ". 
 
 From the return of Richard to his death, his reign was a perpetual Extonions. 
 feries of war abroad, and of extortion at home ; principally, however, oc- 
 cafioned by the attempts of Philip Auguftus, king of France, to conquer 
 the dominions of England on the continent. In confequence of the en- 
 terprifes of that formidable enemy, joined to the heavy ranfom he had 
 been obHged to pay, he was reduced to the neceffity of cancelling all the 
 contracts he had entered into, previous to his Afiatic expedition ; and of 
 refuming all the offices, together with fuch of the crown lands as were 
 purchafed at that time. The whole body of the clergy alfo, but more 
 particularly the Ciftertian monks, were obliged to pay confiderable furas 
 of money to fupply the king's neceffities ; and at this period we firft 
 hear of wool being taken in kind for the purpofes of revenue. In the 
 tenth year of his reign, Danegeld likewife, under the lefs obnoxious 
 name of Hydage, was levied at the rate of five fhillings per hyde ". 
 
 It is not a little fingular, that the reign of this monarch ftiould Licenfes. 
 furnifh an example of raifing a revenue by means of licenfes ; a mode 
 which, in modern times, has become fo prevalent. Neceffity, how- 
 ever, is the parent of invention ; and, confidering the difficulties to 
 which Richard and his minifters were reduced, it is not to be wondered 
 at, that they fhould make this important difcovery. At the period we 
 are now writing of, it is well known, that, for the better exercifing of 
 the people in the arts of war, jufts and tournaments were encouraged, 
 and they naturally became fafhionable in fo martial an age. But, with 
 
 »• Carte, vol. i. p. 759. Authors differ much as to the amount of this monarch's 
 ranfom. Diceto calls it ioo,oool. of filvcr. Jervafe of Canterbury, 150,000 marks. 
 M. Paris, p. 167. 140,000 marks of filver. The MS. Chronicle at Chefter, 160,000 
 marks. But Hoveden, p. 415. gives us a copy of the agreement, from which it appears, 
 that 100,000 marks were paid down, and that, for the remaining 50,000, hoftages were 
 to be given, but the payment was conditional. 100,000 marks was equal to 194,0001. of 
 modern money. Folkes on Coins, p. 6. Note. '" Stevens, p. 40. 
 
 I 2 a view
 
 6o HISTORY OF THE PUBLIC REVENUE 
 
 a view of rendering that pra£lice profitable to the exchequer alfo, it was 
 ena(fied, by Richard, that every perfon fhould pay for a licenfe before he 
 engaged in fuch exercifes, according to the following rates : every earl, 
 twenty marks of filver ; every baron, ten marks ; every knight, having 
 lands, four marks ; and fuch as had no lands, two marks. No perfon 
 under the rank of a knight was permitted to enter the lifts ';'. 
 Amount. Jt is related by Hoveden, a very refpe£table ancient hiftorian, that, in 
 
 the fpace of two years, 1,100,000 marks, equal to 753,332/. fterling, 
 or-376,666/. /£•/• ^n««w, had been colleded for public fervices *\ This 
 fum, Hume fuppofes to be totally incredible ''. But it is ftated upon the 
 authority of Hubert, archbifhop of Canterbury, who had infpeded the 
 records, and examined the public accounts, to difcover the real amount ; 
 and it is to be obferved, that this was not the annual income of the 
 crown, but comprifed the various fums which had been extorted to carry 
 on the war againft Philip, and perhaps the money which the Englifh had 
 paid, either in the fhape of taxes, or of voluntary contributions, for the 
 redemption of their captive fovereign. 
 
 JOHN. 
 
 This defpicable and odious tyrant, whofe hiftory it is Impoflible to 
 contemplate without a mixture of difguft, indignation, and horror, 
 claimed the crown, as next of kin to the deceafed king, of whom he 
 was the only furviving brother. But the Englifh had foon reafon to 
 regret the fupport they gave him, in oppofition to the pretenfions of 
 Arthur, and of his fifter Eleanor, the children of Geoffrey, who was 
 next brother to Richard, and whofe defcendants, therefore, by the right 
 of reprefentation, were entitled to the throne. To remove fo dan- 
 gerous a rival as Arthur, who had difplayed, at an early period of life, 
 fpirit and abilities beyond his years, every art that treachery could 
 invent, or barbarity could execute, was put in pradtice by his inhuman 
 uncle ; and it is fuppofed, that this obftacle to his ambition, which no 
 
 *' Carte, vol. i. p. 764. " Hoveden, folio edit. p. 437, anHo 1196. 
 
 ^^ Vol. ii. p. 38. See alfo Carte, vol. i. p. 769. ; and Davenant, vol. iii. p. 74, who 
 fuppofes the fum equal to eleven millions of modern money. 
 
 Other
 
 tions. 
 
 OF THE BRITISH EMPIRE. 6^ 
 
 other perfon had the cruelty to remove, was murdered by his own 
 hands **. By the death of this unfortunate prince, and Eleanor's 
 captivity and imprifonment, he flattered himfelf, that his government 
 was eftabliftied on a rock, which could not eafily be fhaken. Inftead 
 of which, abroad, he lofl the ancient patrimony of his family on the 
 Continent ; and, at home, pafled a life of mifery, turbulence, and 
 difgrace. 
 
 Neither the clergy nor the laity were exempted from his rapacity. His extor- 
 In the twelfth year of his reign, h« is faid to have exacted 140,000/. 
 from the church. In his thirteenth year, 400,000 marks were alfo 
 demanded ; and in the courfe of a reign of feventeen years, only three 
 are diftinguiflied as being freed from one fpecies of impofitions or 
 another. But the Jews in particular felt the weight and violence of 
 his extortion. An. 1210, 66,000 marks were demanded from them ; 
 and perfons of both fexes were feized, imprifoned, and tortured, in 
 order that they might deliver up all they were worth ^\ One of them, 
 a Jew of Briftol, having refufed to pay 10,000 marks afTefled upon 
 him, the tyrant ordered a tooth to be pulled or beat out every day, 
 until this exorbitant fum was paid, which the unhappy Ifraelite was at 
 laft compelled to do on the eighth day, after feven of his teeth had been 
 ftruck out "*. 
 
 The only circumftance which can prove in any refpeiSl agreeable to Magna 
 the reader during the whole courfe of his reign, is the confirmation, 
 extorted from this monarch with confiderable difficulty, of the rights 
 and liberties of the people of this country, in the deed fo emphatically 
 named. The Great Charter of the Liberties of England ''. By this 
 important inftrument, a variety of regulations were enaded, favourable 
 to the vaflals of the crown, by which the pecuniary burdens of the feu- 
 dal law were confiderably diminlfhedj and by the 14th, 15th, and i6th 
 articles it was declared, that no fcutage or aid fliould be impofed on the 
 kingdom in general, and in particular on the city of London, or any 
 of the other cities, towns, or boroughs of the kingdom, unlefs with the 
 confent of the common council of the realm, excepting for ranfoming 
 
 Charts. 
 
 ** Hume, vol. ii. p. 48. '5 Stevens, p. 44. 
 
 -* M. Paris, p. 220. Tovey's Anglia Judaica, p. 70. Madox Exclieq. p. 151. 
 
 ^1 See the famous Petition of Right, claufe j. 
 
 the
 
 6a. HISTORY OF THE PUBLIC REVENUE 
 
 the king's perfon, making his eldeft fon a knight, or marrying his cldeft 
 daughter ; and even then, only a reafonable aid was to be demanded : 
 and by another claufe, fines and amerciaments, which had formerly been 
 very grievous and oppreffive, were reftrifted within proper bounds. On 
 the whole, this charter, though it does not contain a complete fyftem of 
 civil liberty, is, at the fame time, without doubt, the moft important, ex- 
 tenfive, and valuable compaft entered into between a reigning monarch 
 and his fubjeds, to be met with in the hiftory of almoft any age 
 or country. 
 Cuftom:. It appears from the forty-eighth article of Magna Charta, that fome 
 
 duties were paid on goods at that time, and had been formerly exadted. 
 The merchants were to trade, "Jifie omnibus malis toltis^ But, at the 
 fame time, the articles in which they dealt, were to pay cuflom ^^ per 
 " antiquas et reSfas confuetud'tnes" What thofe ancient and equitable 
 duties were, is now unknown ; but they muft have been very incon- 
 fiderable, as they were let in farm, in the fourth year of John's reign, 
 for only i ooo marks *'. 
 
 John continued the dangerous pradice, begun by his brother Richard, 
 of felling the offices under the crown. Nay, he ventured to difpofe of 
 the high employment of chancellor, to one Gray, during his life, for 
 only 5000 marks, 
 
 HENRY III. 
 
 At the age of nine years, Henry III. inherited the crown of Eng- 
 land. He mounted the throne at a time when the greateft experience 
 and the moft fplendid abilities were neceflary to preferve the kingdom 
 from the ruinous confequences of inteftine wars and foreign invafion. 
 Fortunately, William Earl of Pembroke, the Marifchal of England, and 
 confequently by his office, in times of fuch turbulence and confufion, at 
 the head of the government, was pofTefled of virtue and abilities adequate 
 to fo dangerous a crifis ; and, by means of his prudence, vigour, and 
 exertions, and the return of many of thofe barons to their allegiance, 
 
 *' An. 1202. See Madox, p. 529. It appears alfo from p. 530. that the cufloms of all 
 England, and the profits arifing from its principal fairs, amounted only to ^4,958:7:31 
 from the faft of St. Margaret in the fourth, to the feaft of St. Andrew in the fixth year of 
 this monarch's reiga. 
 
 who,
 
 OF THE BRITISH EMPIRE. ^^ 
 
 who, from hatred to their late monarch, had thrown themfelves into the 
 arms of France, Henry at laft acquired the peaceable poffeflion of his 
 dominions, both in England, and on the continent. 
 
 The reign of this monarch, which lafted upwards of fifty-fix years, 
 is the longefl: in the annals of this country. Unfortunately, it cannot 
 boaft of fplendour equal to its duration : it was neither happy at home, 
 nor refpedlable abroad. His fubje<f1:s complained of the weaknefs of his 
 government, of his rapacity and profufion ; whilft his enemies had no 
 reafon to tremble at the vigour or abilities of their opponent, Henry's 
 charadler, perfe£tly well adapted to the ftill life of a private citizen, was 
 but ill fitted for the buftle and intrigues of a court, or the tumults of 
 hoftility and war. 
 
 His attachment to unworthy favourites, and profufe liberality to the Revenue, 
 minions who were about him, in a great meafure occafioned the miferies 
 of his reign. By his inconfiderate bounties, he had reduced the income 
 of the crown to 60,000 marks /-^r annum^^^ and he was not fcrupulous 
 as to any means of making up the deficiency. 
 
 It would be trefpaffing upon the reader's patience, to attempt an 
 enumeration of the number of fcutages, aids, talliages, carrucages, 
 hydages, tenths, fifteenths, benevolences, l^c. which this king, by 
 different means, and under various appellations, obtained, or extorted 
 from his fubjedts, in the courfe of his long adminiftration. He is faid 
 to have taken 400,000 marks from the Jews ^^ His expences in a vain 
 attempt to conquer Sicily for his fecond fon, are faid by Matthew Paris 
 to have amounted to 950,000 marks". In the forty-third year of his 
 reign, he was reduced to the greateft neceffity. And when Lewis king 
 of France, who was not perfedlly fatisfied with his right to Normandy 
 and Anjou, offered him 300,000 livres Tournois, and lands to the 
 value of 20,000 \\vx&% per annum^ in full of his claim to the fovereignty 
 of thofe two provinces, for that trifling confideration he renounced all his 
 pretenfions to the ancient patrimony of his fanjily, and ever after flruck 
 out from his other titles, thofe of Duke of Normandy, and Earl of 
 Anjou. To this king and his minifters may be attributed a new device 
 
 »9 M. Paris, p. 647. ^° Stevens Hift. of Taxes, p. 48. 
 
 3> M. Paris, p. gi8. This is the probable meaning of a pafTage which has puzzled 
 many of our hiftorians. 
 
 5 to
 
 •6+ HISTORY OF THE PUBLIC REVENUE 
 
 to raife a revenue, of which his fuccefTors afterwards availed themfelves. 
 The mode was, to compel every one who poffeffed fifteen or twenty 
 pounds a-year in landed property holden of the crown, either to take 
 the order of knighthood, or to pay a certain fum of money in its (lead, 
 by way of compofition. This w^as a fure mode of raifing money ; for 
 thofe who did not compound, were obliged to pay confiderable fees at 
 their creation, which all went into the exchequer. 
 Confe- The miferable ftate to which Henry was reduced, is fufficient, one 
 
 quences of fhould imagine, to deter any monarch from imitating his extravagance 
 and profufion. He found the utmoft difficulty to pay his eldeft fon 
 Edward, the fmall pittance of 15,000 marks per annum, for his fupport. 
 His debts, amounting to about 300,000/., he was totally unable to dif- 
 charge. In order to raife money, he was obliged to fell the very 
 furniture of his palace ; to pawn the jewels of the crown ; nay, the 
 fhrine of St. Edward the ConfefTor, for whom he had always expreffed 
 the higheft veneration ". He is reprefented as wandering about the 
 country, foliciting the charitable contributions of his fubjeds"; and 
 his attendants were reduced to fuch ftraits and difficulties that they were 
 compelled to confederate with gangs of robbers, in order, by their fhare 
 of the booty, to fecure a maintenance ^*. 
 Cuftoras. In the reign of Henry, this branch of the revenue was increafed to 
 
 6000/. per annum ". But the exaction of fuch high cuftoms was 
 complained of, as contrary to Magna Charta, and was faid to be 
 attended with an apparent overthrow of trade ^* : a proof how much 
 people are apt to complain of the flighteft burdens, and indeed how 
 inconfiderable the commerce carried on by England at that time muft 
 have been. 
 
 3» Noy's Rights of the Crown, chap; viii. Stevens, p. 70. 
 
 3J Stevens, Pref. p. 31. 3« Hume, vol. ii. p. 228. 
 
 >s Hume, vol. ii. p. 170. Note C. 
 
 s* Noy's Rights of the Cro\^n, p. 78. 
 
 EDWARD 
 
 -"W>.
 
 OF THE BRITISH EMPIRE. 65 
 
 EDWARD I. 
 
 Edward the Firft, the great reformer of our laws, and hence called the 
 Englifh Jtijlhiian, was one of the wifeft and moft fortunate princes, that 
 ever fat upon the throne of England. In him were united the prudence 
 and forefight of the ftatefman and legiflator, with the valour and mag- 
 nanimous fpirit of the hero. The expenfive wars, and the variety of 
 important enterprifes in which he was engaged, occafioned the levying 
 of many taxes, and fometimes gave rife to oppreffions, of which his 
 fubjedts had fome reafon to complain : but the money he exacted from 
 them, was uniformly expended for the honour and benefit of his 
 kingdom ; and the laws which he propofed, or to which he gave his 
 confent, firft extended that commerce, confirmed thofe liberties, and 
 eftablifhed that conilitution, on which the future happinefs of this country 
 depended. 
 
 Among the other great tranfadlions by which the reign of this Confirma- 
 monarch is diftinguiflied, the final eftablifhment of Magna Charta, to- ^'j°" °^ 
 
 gether with fome important additional articles, and a full and com- Charta, and 
 
 '" ' ftatut 
 agia 
 >( 
 dentio. 
 
 plete confirmation of the famous ftatute " de tallagio non coticedendo" % VluagU^ 
 are entitled to particular attention. The former (Magna Charta) had "'" """" 
 already been frequently confirmed by the difterent monarchs, who, fince 
 the firft pafling of that important deed, had fat upon the throne ; but 
 it was ftill thought requifite to have that folemnity again repeated. The 
 latter was rendered neceflary, in confequence of fome defeds in the 
 Great Charter, particularly as it had permitted the crown, by its own 
 authority, to levy aids for ranfoming the king's perfon, making his eldeft 
 fon a knight, or marrying his eldeft daughter ; a prerogative liable to 
 abufe ; and, at the fame time, it had laid the crown under no reftraint, in 
 regard to exading arbitrary talliagcs, from its demefnes. But by 
 the ftatute above-mentioned, tio aid or taUiage iz'ho.tfoever could be de- 
 manded, without the confent and approbation of Parliament ; and this 
 important conceflion, in the words of Hume, " the Englifh nation had 
 " the honour of extorting from the ableft, the moft warlike, and the 
 " moft ambitious of all their princes, who was thus bereaved of the 
 
 K, ♦' power
 
 U HISTORY OF THE PUBLIC REVENUE 
 
 *' power which he and his predeceflbrs had hitherto affumed, of Im- 
 " pofing arbitrary taxes on the people "." By this famous ftatute, the 
 people of England, as Bodin well exprelTed it, defended themfelves, as if 
 with a fliield, from the exadlions of their fovereign ". 
 Exaflions g^^j- whatever acquifitions of liberty, or fecurity for their perfons and 
 
 Jews. eilates, were obtained by the people in general, yet fome of his fubjedts, 
 
 who thought themfelves equally entitled to his protection, were treated 
 in a manner which impreffes us with no very favourable idea of Edward's 
 humanity. It is his treatment of tlie Jews to which I allude. Befides 
 large fums of money extorted from them at his acceffion to the throne, 
 in the third year of his reign they were made fubje£t to a poll-tax of 
 three-pence each, without any exception on account of poverty, fex, or 
 age ". In the fourth year, the tax was raifed to five-pence a head ; but 
 in the eighteenth year, the whole nation was fentenced to perpetual 
 Anno 1290. exile by ad: of parliament. All their property was confifcated for the 
 ufe of the crown; many were hanged under various pretences ; in par- 
 ticular two hundred and eighty in one day, who were accufed of having 
 adulterated the coin; and above fifteen thoufand were plundered of all 
 their wealth, and baniihed the kingdom *°. So odious were the Jews 
 at that time to the nation in general, that the laity granted the king a 
 fifteenth, and the clergy a tenth of their perfonal eftates, for confenting 
 to, and perhaps encouraging their expulfion *'. 
 Exaftions But Edward's condud to the clergy foon convinced them, that 
 
 Ch" t^ attachment to the fuperftition prevalent at that time, had no fhare in 
 rendering him fo great an oppreffor of the Jewifh race. The church 
 from the beginning had fome reafon to be afraid, that a monarch fo 
 hi"h-fpirited and fo ambitious as Edward, would be frequently under 
 the neceiTity of applying to it for pecuniary affiftance ; and the clergy 
 were not a little alarmed, when, in the fixteenth year of his reign, he 
 gave orders to fearch all the monafteries in England, and to feize for his 
 own ufe the money and valuable efFeds depofited in them. They flat- 
 tered themfelves, however, that the authority of the Pope would fhield 
 them from his rapacity ; and, in confequence of an application from 
 
 31 Hume, vol.ii. p. 292. 295. 2' De Repub. lib. i. cap. 8. '' Stevens, p. 79. 
 
 •»" Tovey's Anglia Judaica, p. 232. Hume's Hift, vol. ii. p. 236. 
 
 *' Stevens, p. 84. 
 
 the
 
 OF THE BRITISH EMPIRE. f^ 
 
 the Archbifhop of Canterbury, Boniface VIII. who then fat upon the 
 Papal throne, iflued a bull, prohibiting all princes to levy any taxes 
 upon the clergy, and all clergymen to pay any impofition, without the 
 authority of the Pope. Edward was determined, by the moft vigorous 
 meafures, to puniQi the clergy for making this application, and to compel 
 them to renounce any benefit it could poflibly afford. He put the whole 
 church out of his protection : he declared that thofe who refufed to fup- 
 port the civil government, were not entitled to receive any advantage 
 from it. The judges were diredted to fuffer any perfon to harafs or 
 plunder them with impunity ; whilft, on the other hand, no court of 
 law would give them any redrefs. The king at laft prevailed in the 
 conteft : the Pope's bull was either contemned or evaded, and the clergy 
 were glad, almoft on any terms, to be reinftated in the I'oyal prote<Stion, 
 and to enjoy again the benefit of the laws *\ 
 
 Thus the church was made fubjedt to the civil power j nor was it 
 afterwards thought neceflary to have a bull from the Pope, previoufly 
 to any clerical impofition. 
 
 Taxes on the exportation and importation of goods, became, in the Cuftoms. 
 reign of this monarch, an important branch of the revenue. It is pro- 
 bable that cuftoms were at firft only fmall duties, levied at ferries and 
 bridges, and, perhaps, for the liberty of trafficking on the Thames, toge- 
 ther with fees for weighing and warehoufing of goods, which the officers 
 of the crown exacted for their labour and attendance. Thefe trifling 
 exadions might gradually take place, without the fandion of parliament, 
 in confequence of the king's (who was accounted the arbiter of com- 
 merce) having provided weights and beams, and eredled warehoufes, 
 where, fubject to certain cuftomary fees and duties (thence called cuf- 
 toms), all goods and commodities might be fold *'. 
 
 But Edward I. was not fatisfied with fuch petty advantages: for TheAntlqoa 
 having feen, during the courfe of his expedition to Paleftine, with "' "'"^• 
 what facility confiderable fums of money were levied by way of cuftom 
 in foreign countries, he thought it would be a happy expedient for 
 raifing a revenue in his own kingdom. The firft duties laid on, how- 
 ever, were very moderate, amounting only to fix fliillings and eight- 
 
 ♦"^ Carte, vol. ii. jj. 265. 267. Hume, vol. ii. p. 286. 
 ♦' Gilb.Hift. of tlie Exchequer, chap. xv. 
 
 K 2 pence
 
 68 HISTORY OF THE PUBLIC REVENUE 
 
 pence on every fack of wool exported ; and the like fum for every 
 three hundred wool-fells ; and a mark, or thirteen fliillings and 
 four-pence, for every laft of hides, at the rate of twelve dozen 
 per laft**. Thefe duties, Lord Coke imagines, were granted by par- 
 liament in the third year of his reign ; and, though the record is now 
 loft, it is evidently referred to in a fublequent adt (25 Edw. I. c. 7.) ; 
 in which notice is taken of the cuftoms on wool, fkins, and leather, 
 formerly granted to that monarch, by the commonalty of the kingdom*'. 
 Origin of Edward's necefTities however demanded a more produdive reve- 
 
 pound^ze. nue ; and he began with additional duties on aliens or foreign mer- 
 chants, wifely conje£luring that any taxes they were willing to pay, 
 might afterwards be extended with lefs difficulty to his own fubje£ls. 
 Feb. I, He granted, therefore, a charter (entitled Charta Mercatoria) to the 
 
 '^°'^' merchant ftrangers fettled in England, by which certain valuable privi- 
 
 leges were befLOwed on them, in confideration of their having agreed to 
 pay the following cuHoms. i. In lieu of the duty called Prifage^ the 
 fum of two {hillings for every tun of wine imported by them, over and 
 above the ancient cuftoms ; a tax which afterwards obtained the name 
 of Btitlcrage^ being paid to the king's butler. 2. Forty pence for every 
 fack of wool, and for every 300 wool-fells exported, in addition to the 
 half mark, or fix {hillings and eight pence, paid by the natives; to- 
 gether with fix {hillings and eight pence additional for every laft of hides. 
 3. Befides fome duties upon cloth and wax, a general poundage, or tax of 
 three-pence in the pound on all goods imported or foreign commodities 
 re-exported, after having been landed in England, exclufively of the an- 
 cient cuftoms to which they were formerly fubjedb. Thefe rates were 
 called Nova Cujitima, and fometimes allien duties ; and were levied by the 
 authority of the crown, without the fandion of parliament, in confe- 
 quence of the voluntary confent that was given by the foreign mer- 
 chants**. In the third of Edward 11. however, this charter was fuf- 
 pended ; and it was totally repealed in the fifth of Edward II. by the 
 lords, who at that time were entrufted with the government of the 
 country ; but it was again eftablifhed in the reign of Edward III. "', and 
 
 *♦ Madox, p. 536. Forfter on the Cufloms, Introd. p. 14. 
 
 ■•5 Gilb. Excheq. p. 276. •♦' Forft. p. 26. ♦' 27 Edward III. 
 
 in
 
 OF THE BRITISH EMPIRE. 65 
 
 in ho. It is the foundation of the duties of tunnage and poundage, {0 
 famous in the hiftory of England. 
 
 Such were the cuftoms paid by aliens in the reign of this monarch. 
 As to the native merchants of the country, it was alvv'ays the policy of 
 England to give them fuperior advantages for carrying on their com- 
 merce ; and as the Nova C^'Jluma above mentioned, were founded upon 
 an agreement between Edward and th.e foreign merchants, the legality 
 of which the commons were much difpofed to queftion, there is every 
 reafon to believe, that the natives of the country were not at all affeded 
 by thefe new impolitions. Here it may be proper to remark, that, aimo 
 1298, the duty upon wool exported had been raifcd by Edward to forty 
 fliillings j!>f/" fack, an rncreafe grievoufly complained of; not only as it 
 was laid on by the authority of the crown alcme, but was in itfelf too 
 high ''\ The right of adding to the old, or of levying new cuftoms,, 
 came at length to be a matter of fuch public importance, that, for many 
 years, it was warmly contefted between the crown and the people. 
 But fmce the forty-fifth of Edward III. and eleventh of Richard II. 
 chap. 9. it has been generally held, that no impofition whatever can be 
 levied, either on exports or imports, without the confent of par- 
 liament '*'. 
 
 The difcovery of fome valuable mines in Devonfhire, alfo tended to Mines, 
 enrich this monarch '°. It is on record, that within three years from 
 their being firft difcovered, about 1700 pounds weight of filver were 
 extradled from them ; and it is probable that, afterwards, they would 
 produce more, in confequence of a greater number of workmen having 
 been employed. 
 
 From the conqueft to the sera we are now confidering, the ufual mode New fyflem 
 of levying money for the extraordinary expences of the crown, was by and^govern- 
 fcutages, or pecuniary commutations for perfonal fervice : but a variety meut. 
 of circumftances contributed to render fuch a fyftem no longer effed;ual. 
 Scutages were levied in proportion to the number of knights fees which 
 each perfon pofTeffed. But, in confequence of the flu£tuation of private 
 property, and of many evafions which it was impoffible to forefee and 
 difficult to check, joined to the inaccurate manner in which the rolls of 
 
 ♦' Stevens, p. 96. *' Forft. Introd. p. 16. '" Stevens, p. 79. 
 
 knights
 
 70 HISTORY OF THE PUBLIC REVENUE 
 
 knights fees were kept, it became impradicable to afcertam the number 
 of fees with which each perfon ought to be charged. And when a fmall 
 number was once accepted of, it was confidered to be a binding pre- 
 cedent for the future ". Thus the crown was deprived of the military 
 fervices of its vaffals ; was defrauded of the compenfation to which it 
 was juftly entitled ; and was reduced to the neceffity of providing fome 
 other means for the public defence. Some fcutages, however, were levied 
 during the reign of Edward : indeed fo prudent a monarch could never 
 have entirely relinquifhed an old and eftablifhed mode of taxation, 
 until he had known, by experience, that a more productive fyftem of 
 revenue could be carried into effed. 
 
 In the mean while, a new defcriptlon of perfons attracted the atten- 
 tion of the fbvereign. For many years pofterior to the conqueft, the 
 poffeflbrs of lands were the only rich and powerful individuals in the 
 community : but, in procefs of time, towns came to be emancipated 
 from their former fubordination and dependence ; lacir citizens be- 
 came induftrious and opulent; they engrofl'ed a confiderable fhare of 
 the wealth and property of the country ; the fmalleft portion of which 
 they were unwilling to part with, unlefs with their own confent. 
 Originally the principal towns in England were included in the royal 
 domains, and the crown was entitled to impofe talliages or taxes upon 
 them, whenever it thought proper. The city of London itfelf was in 
 that predicament ; and, after fome conteft, whether it was talliable or 
 not, in the thirty-ninth of Henry III. was compelled to pay a talliage of 
 3000 marks afleircd upon it by the king and his council '*. But when 
 the famous ftatute de tallagio non concederido^ pafled into a law, there 
 was an end of that prerogative ; and it was neceflary for the crown, if 
 it wifhed to reap any pecuniary advantage from the opulence of the 
 towns and boroughs, to alTemble their deputies together, and to endea- 
 vour, through their medium, to obtain the fupplies neceflary for the exi- 
 gencies of the State. Hence arofe the pradice of regularly fummoning 
 the reprefentatives of boroughs to parliament, which had occafionally 
 taken place before the reign of Edward, but fmce his time has never 
 
 " Hume, vol. ii, p. 278. 
 
 5* Madox, p. 491. Authors differ as to the nature of this council^ but it was evidently 
 iiot a parliament. Lytt. vol. iii. p. 258. 
 
 beea
 
 OF THE BRITISH EMPIRE. 71 
 
 been interrupted. Brady and Hume confider the twenty-third year of 
 the reign of Edward, as the epocha of this great revolution "; but it can- 
 not, with ftri£l propriety, be faid to have taken place until, in confequence 
 of the ftatute above mentioned, enad:ed in the twenty-fifth year of this 
 reign, all other legal means of taxing cities and boroughs, excepting by 
 their reprefentatives in parliament, were finally aboHflied. 
 
 Thofe who look upon themfelves as the warmeft friends of public 
 liberty, cannot hear, with patience, that the commons houfe of parlia- 
 ment had not acquired, at an earlier a:ra, its full dignity and importance. 
 The period of five lumdred years, which has almofl elapfed fince the 
 twenty-fifth of Edward I. does not alleviate their anxiety, or fatisfy 
 their zeal. They wiih to trace the origin even of burgal reprefentation 
 throughout all the dark labyrinths of Saxon and Norman antiquities. 
 The natural prejudices of a free country, it is always difagreeable and 
 often dangerous to oppofe : but it may furely be remarked, without 
 giving the moft ardent friend to ancient liberty the fmalleft offence, that 
 if taxation and reprefentation are fo infeparably connected, as fome 
 political writers are defirous of inculcating, boroughs could have no 
 reprefentatives in the earlier part of the Englifh hiftory ; for this plain 
 reafon, that they were not liable to parliamentary taxes. For, above a 
 hundred years after the Norman invafion, no tax was laid upon perfonal 
 effeds, by which alone the boroughs could be materially afieded. In- 
 deed, before the reign of Edvjard I. or, at leaf!:, of Henry III. very few 
 inflances occur of impofitions upon perfonal property. Whatever right 
 therefore the towns and boroughs originally might have, in confequence 
 of the free principles of the Saxon government, to partake in the legif- 
 lative power of the country, it is certain, that, for many years after the 
 conqueft, it was unneceifary for them to be loaded with the burden and 
 expence of fending reprefentatives. Inftead, therefore, of carrying on fo 
 abftrufe, and, after the lapfe of fuch a number of years, fo unimportant a 
 controverfy, it were better to contend, w^ho fhould pay the fincereft tri- 
 bute of gratitude, to thofe patriots, whofe exertions eftablifhed the rights 
 and privileges of England. It ought ever to be remembered, that, to the 
 zeal and prudence of Langton, Archbifhop of Canterbury, the great char- 
 ter was principally owing; and that, to the undaunted fpirit and manly 
 
 " See Brady on boroughs, edit. 1777. p. 68. Hurae, vol. ii. p. 272. 
 
 I perfeverance
 
 71 HISTORY OF THE PUBLIC REVENUE 
 
 perfeverance of Humphry Bohun, earl of Hereford, the conftable, and 
 of Roger Bigod, earl of Norfolk, the mariflial of England, the paffing of 
 that ftatute ought to be attributed, which, by annihilating for ever the 
 royal prerogative of impofing arbitrary taxes upon the fubjedt, laid the 
 true foundation of a limited monarchy, without which every other right 
 and privilege were in vain. 
 
 EDWARD n. 
 
 The reign of Edward II., comprizing a period of about twenty years, 
 is remarkable for the inconfiderable taxes levied upon the fubjc<£l. The 
 power' of the crown to raife money, in virtue of its own prerogative, 
 having been completely abandoned by his father, it is not to be fuppofed 
 that it could poffibly be regained, under the adminiftration of a fon in 
 every refpedt his inferior : and, as Edward's mifcondudt in government, 
 and 'his attachment to unworthy favourites, did not entitle him to any 
 great pecuniary affiftance from his people, they had fome little confdla- 
 tion in the lightnefs of their taxes, for the difgraceful calamities of his 
 unfortunate reign. 
 
 Among the other events, which contributed to heap difhonour on 
 the government of this monarch, the lofs of Scotland was unqueftionably 
 the moft important. It is natural for a native of that part of the ifland 
 to imagine, that Edward's charafter could not be materially tarnifhed, for 
 failing in an attempt to fubdue that country, defended as It was by a gal- 
 lant nation, renowned, both in ancient and in modern times, for its for- 
 titude and valour. Their refiftance, however, would probably have been 
 ineffectual, had Edward endeavoured to complete the conquefl of that 
 country immediately after his accelTion, before the Scots had recovered 
 their fpirit, or had received affiftance from their ajHes on the continent. 
 But, though Edward fucceeded to the crown on the yth of July 1307, 
 the battle o^ Bannackhurn^ on which the redudlion of Scotland depended, 
 was not fought till the 25th of June 13 14: and thus Robert the 
 Bruce and his fubjed:s enjoyed an interval of about feven years, and had 
 time fufficient to acquire ftrength, difcipline, and experience. The 
 fubfidies granted to this monarch were principally intended to carry on 
 his wars againft the Scots, the fuccefs of which yielded no encourage- 
 ment
 
 OF THE BRITISH EMPIRE. 7^ 
 
 ment to his fubjeds to furnifh him with iupplies for any other purpofe 
 whatfoever. 
 
 The new mode which Edward I. had difcovered, of increafing his Cuftoms. 
 revenue by duties upon commerce, occafioned fo mucli jealoufy, that in 
 the famous ordinances, which were enadted atino 1311, for the better 
 government of the kingdom, they were entirely aboliflied. By one 
 article, the tax of Butlerage was prohibited to be colleded ; and by 
 another it was declared, that natives only fhould be employed in the 
 collefiion of the cuftoms ; fome foreigners, to whom that branch of the 
 revenue was farmed, having been guilty of extortion. 
 
 It was alfo enadted, that the money which the remaining branches of 
 the cuftoms yielded, fhould be appropriated to the maintenance of the 
 houfehold, that the king might be enabled to live upon his own re- 
 veime, without being reduced to the neceflity of oppreffing his fub- 
 jefts". In the fecond year of his reign, he had impofed, after his 
 father's example, two fhillings a tun upon foreign merchants, in ad- 
 dition to what they had formerly paid ; and as this tax was exacted 
 without the fandion of parliament, it gave rife to much fufpicion, 
 and, probably, was the reafon why the articles above-mentioned were 
 fo particularly infifted upon. For it was a principle in the law of Eng- 
 land, that levying new cuftoms, or adding to the old, could only be 
 ■done either by parliament, or confenfu mcrcatorum ; and impofts laid on 
 by the royal authority alone, were called Maltoltes ", or evil duties, by 
 which trade was materially injured, and which it was neceflary, therefore, 
 to take the earlieft opportunity to abrogate and repeal ^'. 
 
 The anxiety of the Englifh nation to atchieve the conqueft of Scot- New tax. 
 land, made them cheerfully fubmit, in the reign of this monarch, to an 
 impofition of fo dangerous a nature, that it was exprefsly provided in 
 ■the grant, that it fliould not be made a precedent for any fimilar demand 
 in future. By this fmgular grant, which took place <2«/;o 13 16, every 
 village, town, and city in the kingdom, was ordered to furnifh a certain 
 
 s■^ Mort. Hift. vol. i. p. 4.98. Note. 
 
 55 Some writers have fuppofed, that Maltoltes were duties upon vialt; and others,- a 
 
 fpecies of excife, without confideriiig, that cuftom-houfc duties were then as much dreaded 
 
 as excifes are now. . 
 
 ■3 ..-.as, 
 
 56 Noy's Rights of the Crown, p. 77 h 80. Gilb. Excheq. p. 272.' 275.* 
 
 L number
 
 74 HISTORY OF THE PUBLIC REVENUE 
 
 number o^ ftout and well-armed foldiers, In proportion to its wealth and 
 ability, provided with fubfiftence for fixty days ; after which, they were 
 to be maintained at the expence of the crown. In addition to this tax, 
 a fifteenth part of the moveables of the laity was granted, to render the 
 conqueft more fecure. But the feafon was pad : for the battle of Baa- 
 nockburn Iiad prevloufly ellablilhed the independence of that country. 
 Fcrells. An attempt was made by Edward and his minifters, to increafe the 
 
 public revenue, by cultivating the forells belonging to the crown. In 
 his fecond year, a commilTion was granted to farm out fuch wafte lands, 
 fi abfque injuria oltcrius fieri potejl ; and in his fifteenth year, a greal 
 part of his woods were let for rent. The idea, however, was not then 
 purfued. But it is hoped, that a plan, of which it was faid of old, 
 " That it would increafe many thoufand families for the public fervice, 
 " would bring many thoufand pounds into the public coffers, and would 
 *' convert much wafle land, to habitations of chriftians," will be no longer 
 negleded ''. 
 
 EDWARD III. 
 
 The reign of Edward III. is, without doubt, the mofl; fplendid in the 
 
 Englifli hiilory, for warlike atchievements. Befides many important 
 
 victories obtained by himfelf, his fon the Prince of Wales, the general 
 
 wliom he employed, and even his Queen Philippa, boafted of exploits, 
 
 which would have adorned any other aera, but which were all loft in the 
 
 fuperior luftre of thofe of CrefTy, of Sluys, and of Poidliers. His fubjedls 
 
 were fo dazzled by his valour and fuccefs, that they willingly fubjetted 
 
 themfelves to the moft exorbitant taxes ; and with reafon afferted, that 
 
 they had gone beyond all the commons in the world, in liberality to their 
 
 fovereign '\ 
 
 •Grant*. A variety of parliamentary grants, under the ufual denominations of 
 
 tenths, fifteenths, and twentieths, were received by Edward ; and fome 
 
 taxes in kind were alfo granted him, as the ninth fheaf, the ninth lamb, 
 
 and fometimes a fubfidy in wool. But in the forty-fifth year of his 
 
 reign, there was a tax of a very particular nature, which is recorded alfo 
 
 " Noy's Rights of the Crown, p. 6i. 
 
 »* Rot. Pari. 50 Edward III. Num. ix. vol. ii. p. 322. 
 
 as
 
 OF THE BRITISH EMPIRE. 75 
 
 as the firft Inftance of any fpecific fum of money having been voted by 
 Parliament. It was a grant of 50,000/. for carrying on the war with Anno 1371. 
 France. To ralfe this fum, every parifli in England was aflefTed in the 
 payment of l/. ^s. /[.d. each, the greater to affifl: the lefs ; and it was 
 fuppofed, that there were pariflies enough in the kingdom, to make up 
 the complete fum that was required. But fo ignorant was the Parliament 
 at that time of the ftate of the country, and of the number of parochial 
 diftridls into which it was divided, that, inflead of i/. 3X. 4^. every 
 parifh was obliged to pay 5/. i6j. each ". 
 
 The expences to which this monarch was put, appeared to be fo Cudoni!. 
 much beyond the natural powers and refources of his kingdom, that it 
 was currently reported, he had difcovered the art of making gold from 
 Raymojid Lully, or fome other fkilful alchymift ". But the only fecret 
 which Edward made ufe of, was to encourage the commerce of his 
 fubjedts ; for he knew well, that the neceflary confequence of an 
 increafe of trade muft be an addition to his revenue. Nay, he found 
 means to raife the cuftoras of the port of London alone to 12,000 marks 
 per annuni^ which was more than the whole cuftoms of England had 
 yielded in the time of Henry Iir*. In the twenty-firft year of his 
 reign, many merchants having been robbed and murdered by pirates 
 on the coaft of England, it was thought necefTary to equip a fleet for 
 the protedlion of commerce ^ and in order to raife the money wanted 
 for that purpofe, an ordinance was made by the king and peers for 
 levying two fhillings upon every tun of wine, and fix-pence upon all 
 goods imported, which was only an addition of three-pence in the 
 pound, to the duties formerly laid on by the charta mercatoria. But 
 the commons complained, that the manner in which this tax was im- 
 pofed, was a violation of their privileges, and contrary to law "\ The 
 fecond grant of thefe duties (46 Edward III.) was equally illegal; for it 
 was granted by the citizens and burgeffes only, without the concurrence 
 of the knights of the Ihires, or the peers of the realm ". Perhaps they 
 
 5» Stevens, p. 109. iii. Carte, vol. ii. p. 527. erroneoufly ftates this tax at i/. 16^. 
 jnftead of 5/. its. per parifli. It appears from Hutchin's Dorfetfliire, Introd. p. 56. that 
 the miftake was not fo much in regard to the number of parities, as to the number of thofc 
 able to pay the fum adefied. *° Gilb. Exchequer, p. 217. 
 
 " Noy's Rights of the Crown, p. 86. 
 
 *^ Rot. Pari. 21 Edw. III. Num. xi. vol. ii. p. 166. 
 
 *' Ibid, 46 Edw. III. Num. xv. vol. ii. p. 310^ 
 
 L 3 thought
 
 76 HISTORY OF THE PUBLIC REVENUE 
 
 thought themfelves juftified, from their reprefentlng the commercial in- 
 tereft, to authorife the impofition of any tax by which trade alone was 
 affe(3;ed, without the additional fandion of the other branches of the 
 legillature. The firft complete legal grant, therefore, of tunnage and 
 poundage, impofed by full parliament, and extending to natives, was 
 anno 1373 **, fince which period, thefe duties have exifted in this country 
 with hardly any exception. 
 
 Poll tax. The firfl; poll-tax upon the natives was granted to Edward. It was a 
 
 duty of foui-pence a-head for every man and woman beyond fourteen 
 years of age, beggars alone excepted ''. The clergy alfo granted twelve- 
 pence for every beneficed perfon ; and four-pence for all otlier religious 
 perfons, excepting Mendicant Friars, who profeffing poverty, w^ere not 
 fuppofed able to furnifh fupplies. Either the laying on of this tax, or 
 the oppreffive manner in which it was colleded, occafioned much difcon- 
 tent", and ought to have prevented a fecond attempt of the fame kind, 
 and the fatal confequences which refulted from it in the following reign. 
 
 txaaions. ^"^ Edward's great undertakings were of too expenfive a nature to 
 
 be carried on, either by the ordinary revenues of the crown, or by the 
 grants, however liberal, which he received from parliament. Accord- 
 ingly, his exadions were loudly complained of. The famous ftatute,. 
 De tallag'io tion conccdcndo^ was far from being ftriclly obferved. It is 
 faid, that he impofed arbitrary talliages upon his domains ; that he 
 feized the money and effedls of the merchants or bankers of Lombardy, 
 who, fmce the expulfion of the Jews, had followed the fame ufurious 
 pradtices, with the fame deteftation and obloquy. He is alfo accufed 
 of having been the firft who attempted to raife money by the pernicious 
 mode of eredling monopolies ; of having extorted loans ; of com- 
 pelling fuch of his fubjeds as pofTefled eftates to the value of forty pounds 
 'per annmn^ to take the order of knighthood ; nay, of feizing the goods 
 of his lubjedts, and felling them for his own behoof, giving the owners 
 fecurity for payment at a dillant day, and at a price inferior to their 
 value ". 
 
 *♦ Rot. Pari. 47 Edw. III. Num. xii. vol. ii. p. 317. 
 
 *5 Ibid. 51 Edward III. Num. xix. vol. ii. p. 364. In the Archsologi?., voT. vii. p. 337,. 
 there is a copy of this fubfidy roll, and fome very ingenious obfervations upon the fubjetit-, 
 by Mr. Topham. " Mort. vol. i. p. 614. 
 
 " Stevens, p. 105, no. Hume, vol. ii. p. 490. j and Noy's Rights of the Crown, 
 p. 64. 66. 
 
 9 Nor
 
 OF THE BRITISH EMPIRE. 7^ 
 
 Nor could England alone furnifh, at that time, an income adequate to Foreign 
 the expenfive enterprifes which Edward had undertaken ; and it muft P'""'^^''^"* 
 be confeued, that he endeavoured, as much as pofTible, to make his wars 
 feed themfelves, by plundering the countries through which his armies 
 pafled, or forcing the miferable inhabitants to pay heavy military contri- 
 butions. Having taken in battle the kings of France and Scotland, their 
 ranfoms amounted to a fum which it was very convenient for Edward to 
 receive. By the treaty of Bretigny^ the king of France's ranfom was 
 fixed at three millions of crowns of gold, equal to 1,500,000/. of our 
 prefent money, of which, however, only one-half was adually paid ". 
 The king of Scotland's ranfom was only 100,000 marks fterling, which, 
 though a fmaller fum, yet was equally exorbitant, confidering the inferior 
 extent and opulence of his dominions. But the greater part, if not 
 the whole of it, was difcharged "'. Nor were other refources wanting ; 
 for he alfo received 50,000/. fterling from the duke of Brabant, as 
 the portion of his daughter Margaret, the intended bride of Edward 
 the prince of Wales ; and, it is faid, 30,000/. /i^/- rt;/««;« from Ireland, 
 after defraying the eftablifhments necefTary for its government and 
 protedion '°. 
 
 Notwithftanding the wealth which, from fo many fources, poured it- I>ebts and 
 felf into Edward's coffers, and the fplendour of the greater part of his 
 reign ; yet, on the whole, the events of it will furnifli no inducement 
 to any monarch to afpire to the charadter of a conqueror, who coolly 
 confiders the difficulties to which this king was reduced, the debts 
 with which he was encumbered, and the unfortunate conclufion of his 
 reign. Though every means that could be devifed for railing money, 
 to carry on his various undertakings, was adopted without hefitation 
 or remorfe, he ftill found himfelf in the greateft perplexity and diftrefs. 
 His queen pawned her jewels, and he himfelf was reduced to the ne- 
 ceflity of giving the great crown of England in fecurity for the money 
 which he borrowed ; a gage which remained unredeemed for the fpace 
 of eight years. Nay, he is reprefented, as aiking the permiHion of his 
 foreign creditors, to pafs over to England, and of pledging his royal 
 word, to return to the continent, if he was unable to procure the money 
 
 *^ Hume, vol. ii. p. 469. and note K, p. 510, *» Mort. vol. i. p. 605. 
 
 'o Stevens, p. 124. 
 
 necefTary
 
 ^r HISTORY OF THE PUBLIC REVENUE 
 
 ■neccfTaiy to fatisfy their demands. But the conclufion of his reign, In 
 particular, formed a miferable contraft to its former luftre. Not only were 
 all his conquefls (Calais only excepted) torn from him, but the ancient 
 patrimony of his family on the continent was confined to the narrow 
 bounds of Bayonne and Bourdeaux ; and he who had defolated every pro- 
 vince of France ; who had held its fovereign in captivity, and had filled 
 Europe with his renown, was glad to accept of any terms that his ene- 
 mies condefcended to offer ". Thus the fame monarch, who, in the 
 earlier part of his reign, had conquered the dominions of others, towards 
 its clofe, began to tremble for the fafety of his own. Thefe public miie- 
 ries v^'ere aggravated by diftrefles by a private nature, which it does not 
 come within the compafs of this work to relate. 
 Confe- It is impoffible too frequently to inculcate the dodlrine, that more 
 
 <qiiences of revolutions have arifen from the extortions of a fovereign, than from 
 
 «xcoruon. . - 
 
 any other political caufe whatfoever ; and the reign of Edward unfor- 
 tunately furniOies us with an important inftance of the truth of that 
 propofition. His fon, Edward the prince of Wales, had undertaken an 
 expedition to Spain, for reinftating Peter, furnamed the Cruel, upon 
 the throne of Caftile ; an enterprile which he fpeedily accomplilhed 
 with his ufual fuccefs. But the ungrateful tyrant refufed to defray the 
 charges of the expedition ; and Edward was reduced to the neceflity of 
 demanding, from his fubjeils in Aquitaine and Gafcoigny, a fum of 
 money to difcharge the debts which he had incurred. This he propofed 
 to do, by levying the tax called Fuage, or Hearth-money, which, at 
 a livre per hearth, it was calculated would produce 1,200,000 livres. 
 But the attempt was attended with the moft fatal confequences. It 
 filled the whole dominions of England, on the continent, with a fpirit 
 of revolt ; and the French, taking advantage of an alteration fo greatly 
 in their favour, flew to arms ; and in a little time, by the conquefts 
 they acquired, made ample amends for their want of fuccefs in their 
 former boftilities againft Edward '\ Thus England found then, what 
 it has alfo lately experienced, the difficulty of long retaining diftant 
 acquifitions ; and thus the levying of a trifling impoft occafioned of 
 old a revolution of as much importance to this country, in its confe- 
 quences, as the independence of America. At the fame time, it is to 
 
 " Hume, vol. ii. p. 482. '' Ibid. vol. ii. p. 478. 
 
 be
 
 OF THE BRITISH EMPIRE. 75, 
 
 be remarked, that the fuccefs of the French, on this occafion, was owing, 
 not only to the afllilance of thofe who were exafperated at the propofed 
 impoft, but alfo to the Ungering illnefs with which the prince of Wales 
 was affll£ted, and to the imprudent confidence of the Engliih, who thought 
 themfelves invincible. 
 
 It is faid, by a very intelligent author, that the revenue of the crown, Amount of 
 inthetwentiethyear of the reign of Edward, amounted to j^.154,139: 17:5 
 per aiitinm. He mentions it upon the authority of a Pell of that year, 
 which it is probable he has feen ". But we are not told where it is to 
 be met with, or what were the particular fources from which that in- 
 come arofe. 
 
 RICHARD II. 
 
 This monarch fucceeded his grandfather, Edward III. at a very early 
 period of life ; and, as naturally might be expefled, the feeds of future 
 mifery were laid during the courfe of his long minority. For his fubje<fls 
 grew turbulent and fadious ; nor did he receive an education to fit him 
 for his high ftation, or the critical circumftances into which he was led, 
 partly by his own imprudence, and perhaps Hill more from the temper of 
 the times. 
 
 The taxj known by the name of Suhftd)\ was firft attempted in the Thef^rfl: 
 fecond year of his reign. The objedl of the tax was to fave the poor, 
 and to lay the principal burden upon the rich. It was levied partly by a 
 poll, and partly by a tax upon income. The dukes of Lancafter and Anno i379» 
 Brittany paid ten marks each ; eveiy earl was charged four pounds ; 
 every bardn forty fhillings, &c. But the great body of the people, 
 merchants, 'artificers, and hufbandmen, were atTeffed a greater or leffer 
 fum, according to tlyc value of their ejiates^*. This fyftem, however, was 
 too favourable to the indigent, to be much relifhed by the wealthier part 
 of the community. 
 
 Notwithftanding the dlfcontent which the poll-tax, levied in the Poll-tax, 
 reign of Edward III. had occafioned, Richard's minifters did not 
 profit by the experience that circumftance might have afforded ; and the 
 necefiities of the ftate requiring a greater fum (160,000/.) than ever had 
 
 '3 Forft. on Cuftoms, introd. p. 31. 
 
 '♦ Rot. Pari. 2 Ric. II. Num^J4. vol, iii. p. 57. 
 
 been
 
 8d 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 been formerly demanded from an Englifh parliament, the rich became 
 defirous of throwing a part of fo heavy a load upon their poorer neigh- 
 bours ; and it was at laft determined to levy a poll-tax of twelve-pence 
 upon every perfon in the kingdom, of whatever condition or eftate, above 
 fifteen years of age, mere beggars only excepted. Some indulgence the 
 indigent were to receive ; but it could not be very confiderable, as no 
 perfon was to be charged above fixty groats, including the tax he was 
 to pay both for himfelf and family ". 
 Rebellion. This mode of taxation had ever been odious to the Knglifb nation ; 
 
 and, in the prefent inftance, it was fo diredly oppofite to the principles 
 on which the fubfidy above mentioned had been founded, that it foon 
 excited the greateft difcontent. By the former tax, the great men of the 
 kingdom were afleffed in a fum which bore lome proportion to their 
 property and wealth. But by the new mode, the greateft peer of the 
 realm, however opulent, could not be charged with more than fixty groats 
 or twenty fliillings. Nor was this all ; for the tax, inftead of being 
 collected by the King's officers, was farmed out to contradors in the 
 different counties, who levied it with equal infolence and feverirj'. The 
 patience of the people was at laft exhaufted. They flew to arms ; and 
 having chofen Tyler, Straw, and others, for their leaders, they feemed 
 determined to bring about a total revolution in the country. The in- 
 furredion, however, was fortunately quelled when it was leaft expeded, 
 and without much bloodlhed ; and the king, though at that time only 
 fixteen years of age, aded on the occafion with fuch judgment and fpirit, 
 that he imprefled his fubjeds with the moft favourable hopes of the 
 future fplendour and happinefs of his reign '". Nor were their fond ex- 
 pedationc diminifhed, when, upon taking the government into his own 
 hands, he voluntarily remitted fome fubfidies which had been granted to 
 him ; an event of which the Englifh hiftory does not furnifli another 
 example for many years after ". 
 Exaaions. The miferable end of this monarch's reign is well known ; and 
 
 though more tyrannical fovereigns have fat upon the throne of England, 
 and have died in peace, yet it can hardly be difputed, that his fubjeds 
 had fufficient grounds to be diffutisfied with his condud. He pro- 
 's Rot. Pari. 4 Ric. II. Num. 15. vol. iii. p. 90. " Hume's Hift. vol. iii. p. 10. 
 " Ditto, p. 24. See Shakefpeare's beautiful defcriptioii of the horrors of this mode of 
 .taxation in his play of Richard the Seconds 
 
 cured
 
 OF THE BRITISH EMPIRE. 8i 
 
 cured, from a garbled parliamenr, the fubfidy on wool, leather, and 
 woolfells exported, for life — the firft inftance of fuch a grant, and 
 which was confidered as a baneful precedent for the future. He 
 extorted confiderabie fums from his wealthieft fubjeds, by way of loan, 
 which it was dangerous for them to refufe, and ruinous to pay ; and 
 under the pretence, that feveral counties had engaged in rebellious 
 prad:ices (notwithftanding a general pardon had been granted by a£l 
 of parliament), he threatened them with the feverefl marks of his dif' 
 pleafure, if they did not compound for their offences : and they were 
 adlually compelled to fign blank bonds, in thofe days called ragmen^ 
 which the king filled up in any manner, and with any fum he thought 
 proper ^*. After all, the money which he obtained, either from the 
 bounty of his people, or by means of extortion, inftead of being laid 
 out for the glory and advantage of his kingdom, was either thrown away 
 upon the minions of his court, or wafted in maintaining an enormous 
 houfehold, amounting, it is faid, to 10,000 perfons ; of whom 300 were 
 employed in the very kitchens of the palace. But, notwithitanding all 
 thefe circumftances, he would probably have continued upon the throne 
 of England, had he not found in his kinfman, Henry duke of Lancafter, 
 an enemy, whofe ambition nothing but a crown could gratify, and 
 whofe charadler, fpirit, and abilities were fully equal to any attempt, 
 however bold, defperate, or flagitious. 
 
 Under the government of the Saxon line, or houfe of Plantagenet, no Conclufion. 
 inconfiderable progrefs was made in the knowledge of finance. The 
 neceffity of converting military fervices into pecuniary aids was difco- 
 vered. Taxes began to be laid upon perfonal as well as real property. 
 The cuftonjs .came to be accounted a confiderabie and important branch 
 of the revenue, and the clergy were compelled to furnifh contributions 
 for the public fervice ; nor was the fandlion of the pope any longer 
 accounted neceffary for that purpofe. New modes of taxation alfo were 
 attempted ; and though fome of them were ill contrived and unpro- 
 dudive, yet it proves the ftrong anxiety of thofe who were entrufted 
 with the government of the country, to provide an effedlive revenue, 
 adequate to the fupport of that high and diftinguifhed rank, which 
 England was entitled to hold among the kingdoms of Europe. 
 
 " Carte, vol. ii. p. 628. Mort. vol. i. p. 657. 
 
 M CHAP.
 
 8a HISTORY OF THE PUBLIC REVENUE 
 
 CHAP. VII. 
 
 Of the Revefuie of England during the Government oj 
 the Hottfcs of Lancafier and York. 
 
 'T^HE 3cra, to the inveftigallon of which this chapter is dedicated, con- 
 fidering its duration, is the moft calamitous period of the Enghflii 
 hiftory, from the Norman invafion. It inchides a fpace of about eighty- 
 fix years, the greater part of which was Ipent in a bloody and deftruilive 
 conteft for the government of the country, between the two rival houfes 
 of Lancafter and of York ; each of whom, at different periods, were al- 
 ternately fuccefsful. The firft monarch of the Houfe of Lancafter (for 
 that family came earlieft to the throne) paved his way to it, by forcibly 
 depofing his legal fovereign ; and endeavoured to render his crown 
 fecure, by the murder of that unfortunate prince ; but in vain ; for his 
 government was perpetually difturbed by a feries of dangerous infurrec- 
 tions. His fon, Henry V. though a fuccefsful warrior, and though it is 
 probable, had his life been prolonged, that he muft have fucceeded in 
 his views of fubjugating France, neverthelefs wafted the blood and trea- 
 fure of the nation, in purfuit of an enterprife, which, if fuccefsful, might 
 have proved deftruilive to the liberties and to the national importance of 
 England as an independent kingdom. With refpedt to the remaining 
 monarchs of the two rival houfes, their hiftory is nothing but a conftant 
 feries of battles, bloodflicd, crimes, horror, anarchy, and confufion, 
 fcarcely to be paralleled in hiftory. 
 
 Events, however, which at firft fight appear fo ruinous and deftrudive, 
 were, notwithftanding, attended with confequences in fome refpeds be- 
 neficial. The conteft for the crown, between rivals of the fame rank and 
 pretenfions, rendered it neceftary for both to court the favour of the 
 people, and, when poflefled of the government, to pay every poflible 
 attention to their liberties and rights. During the whole period, no 
 attempts were made to infringe upon the articles of Magna Charta, or 
 to inopofe any tax without the fandlion of Parliament ; whereas, it is 
 6 probable^
 
 OF THE BRITISH EMPIRE. 
 
 probable, tiiat a race of monarchs, vvhofe title to the crown was un- 
 queflionable, and who had no competitors for the throne, might have 
 eafil}' ftifled the liberties of this country in their infancy, before they had 
 arrived at that maturity and vigour, which they have fince fortunately 
 acquired. 
 
 In the courfe of this bloody conteft, it is impoffible to learn, without 
 regret, that the greateft and nobleft families of England, whofe gallant 
 adlions we read of in the earlier part of our hiftory, with equal pleafure 
 and refpedi:, were almoft totally annihilated : but, perhaps, this circum- 
 ftance alfo materially contributed to produce that free and popular form 
 of government which we now enjoy. Eor, if the ancient nobles had 
 continued in their original affluence and fplendour, in vain w^ould the 
 commons have endeavoured to raife themfelves to any degree of im- 
 portance in the State. They muft have funk under the fuperior luftre 
 and opulence of the peerage, and could never have attained that inde- 
 pendent power, and that extenfive weight and influence which they at 
 prefent poffefs, and which has fo much contributed to the profperity and 
 happinefs of the country. 
 
 The union of France and England, under the government of one 
 fovereign, had it been efFe<Sted by the efforts of Henry V. or his fuc- 
 ceflbrs, would have proved a fatal circumflance to this ifland. The one 
 kingdom muft have become a dependent province on the other ; and it 
 is hardly poflible to fuppofe, that England would not have been rendered 
 fubfervient to a country, in which, both from confiderations of policy and 
 of pleafure, the fovereign would naturally have refided '. That event, the 
 conteft between the two rival houfes probably prevented ; and although 
 the faying of Abbot Si/ger, minifter to Lewis le Gros King of France, 
 has, as yet, been verified, " that it was neither agreeable to nature or 
 " reafon, that the French fliould be fubjed to the EngliQi, or the Englifh 
 *' to the French ' ;" yet fuch was the hold which England at that time 
 had over fome of the moft fertile provinces of France, and fo martial 
 
 ' By the treaty of marriage between Elizabeth and the Duke of Anjou, if their defcendants 
 fucceeded to the crown of France and England, the fovereign was obliged to refide in 
 England, only eight months every two years. JVlort. vol. ii. p. 397. 
 
 - Lytt. Hift. vol. i. p. 123. 
 
 M 2 were
 
 84 HISTORY OF THE PUBLIC REVENUE 
 
 were the Englifh during the whole period which is now under our con- 
 fideration, that a jundion of the two kingdoms would prohahly have 
 been efFe-fled, if the warlike fpirit of the Englifh had not heen wafted in 
 domeftic quarrels, and if their diflenfions had not furnilhed the French 
 with an eafy opportunity, not only of conquering the pofTe/Tions of Eng- 
 land on the continent, but alfo of fecuring the afieftion and fidelity of 
 the inhabitants, before the Englifh were able to attempt the recovery of 
 the provinces they had loft. 
 
 Perhaps, alfo, the inutility and uncertainty of foreign conquefts, and 
 the miferies attending dom.eftic wars, fo vifible during this a.'ra, might 
 firft give the Englifh that attachment to commerce, and thofe habits of 
 induftry, for which the nation has been fo long confpicuous. At leaft, 
 by fuch fpeculations as thefe, the mind is furnifhed with fome confola- 
 tion, amidft the detail of the various calamities to which England was 
 then fubjed, whether they are furveyed as delineated in the philofophic 
 pages of Hume, or as drawn from the life, in bold and unfading colours, 
 by the mafterly pencil of Shakefpeare. 
 
 Revenue of HENRY IV. 
 
 This monarch was the fon of John of Gaunt or Ghent, Duke of 
 Lancaftcr, fourth fon of Edward III. ; and he would have enjoyed an 
 hereditary title to the crown, after the death of Richard, if Lionel, 
 Duke of Clarence, Edward's third fon, had not left del'cendants behind 
 him, whom the Houfe of York lineally reprefented. But no one dared 
 to mention the pretenfions of that family, though their right had been 
 folemnly recognifed by parliament : for Henry, at that time, enjoyed 
 the favour of the nobles, and of the people, and the command of a for- 
 midable army. He mounted the throne, therefore, without oppofition, 
 and filled the vacancy, which his own intrigues had efFeded, in a man- 
 ner that proved him not unworthy of the crown, had it not been ob- 
 tained by violence and ufurpation. 
 
 During this, as well as the former reign, the revenue of the cuftoms 
 became more and more produdive, in confequence both of an increafe 
 of trade, and of an addition to the duties. Richard had received a grant 
 
 of
 
 OF THE BRITISH EMPIRE. 85 
 
 of three {hillings upon every tun of wine, and one fhilling upon goods \ 
 Bat Henry did not venture to demand more than a tunnage of two 
 {hillings, and a poundage, firft at feven-pence, and afterwards at eight- 
 pence, until the fourth year of his reign, when the duty of three fhillings 
 per tun, and one fliilling/'d'r pound, was again revived: a circumftance 
 with which the king was fo much delighted, tliat he gave both lords and 
 commons a magnificent entertainment upon the occafion*. Special care, 
 however, was taken, not to give this monarch a grant of the cuftoms for 
 life ; and one year was fufFered to elapfe without any grant of them at 
 all, in order to prove that this branch of the revenue was not the property 
 of the crown, but proceeded entirely from the good- will and bounty of 
 the people. 
 
 A tax upon places and penfions, and grants from the crown, was alfo Place tax. 
 impofed in this monarch's reign. It was enaded by the famous Par- 
 liamentum indoSiuni^ or lack-learning parliament, into which no individual 
 converfant in the law was admitted. By the flatute, the king was Anno 1404. 
 empowered to take one year's profits of all annuities, fees, or wages, 
 granted to any perfon fmce the reign of Edward III. (certain minifters 
 of ftate, the judges, and other officers in the courts of juftlce only ex- 
 cepted), together with all revenues alienated from the crown, unlefs 
 either granted to the royal family, or conlirmed by a£t of parliament : 
 and all patents of penfions, or annuities for life, fince the 40 Edward III., 
 were ordered to be brought in and examined, that fuch as were unde- 
 fervedly beflowed might be revoked '. 
 
 In the courfe of Henry's reign, we have feveral inftances of the tax Subfidies. 
 known by the name of Subfidy. It was properly a tax on income, whe- 
 ther it arofe from real or perfonal property : and, as it comprehended, 
 in one grant, the principal modes formerly pradtifed of raifing a re- 
 venue, namely, by fcutage and by talliage, it was both more equal and 
 more produ£live. 
 
 The curiofity of our hiftorians has been not a little awakened, to Singular 
 know the particulars of an impofition of fo fingular and of fo danger- '^"'^''''y- • 
 ous a nature, that it was granted upon this condition alone, that it 
 
 s Gilb. p. 280. Forft. p. 38. N. B. Thefe authors differ as to the years. 
 
 * Stevens, p. 135. 5 Rot. ParJ. 6 Henry IV. num. 14. Vol. iii. p. 547. 
 
 lliould
 
 86 HISTORY OF THE PUBLIC REVENUE 
 
 fhould not be made a precedent of" for the future. Nay, according to 
 IViiIfitigham, it was to be kept concealed from pofterity ; no evidence of 
 it was to be preferved in the treafury or in the exchequer; and every 
 writing or memorial regarding it, was to be burnt '. This tax is farther 
 reprcfented to have been, " A monftrous birth {hewn to the world, to 
 " let it know what could be done, and concealed by hiftorians, that the 
 " world might not know what may not, or ought not to be done \'' To 
 difcover this hideous monfter, the public records were carefully examined 
 by a judicious hiftorian ; who informs us, that this unprecedented tax 
 was nothing but a fubfidy upon real and perfonal property, amounting 
 to twenty fliillings upon every knight' s-fee ; twenty pence upon every 
 twenty pounds a year in lands ; and one fhilling in the pound upon 
 money and goods °. And, with regard to the claufe prohibiting it to be 
 made an example of for the future, it was not unufual when any import- 
 ant grant was made at that time. 
 1i"**^h *'h "^'^^ do£trines of WicklifFe had begun in the reign of this monarch, 
 
 and indeed in that of his predeceflor Richard, to fpread a fpirit of reform- 
 ation in the church, not only in England, but on the continent ; and, 
 as this fpirit gave rife to a plan for enriching the crown, by the plunder 
 of the church, which had nearly taken effecl in the reign of Henry, it 
 may not be improper to give a connedled view, of the origin and pro- 
 grefs of an event, fo fingular and important. 
 
 The clergy, by their own proud and haughty behaviour, gave rife to 
 the idea. It was firft openly declared in the year 1385, when Rich- 
 ard II., having afTembled a parliament in order to procure a fupply, 
 found the laity willing to grant one-fifteenth and a half, provided one- 
 tenth and a half were given by the clergy. This conditional offer they 
 thought proper to refent ; and Courtney y Archbilhop of Canterbury, de- 
 clared, " That the clergy were free, and were only to be taxed by them- 
 " felves ; and that he would fooner lofe his head, than fufFer the holy 
 " church of England to be reduced under the fervitude of laymen." 
 So haughty an anfwer roufed the indignation and refentment not only 
 
 « Hift. Ang. p. 369, 370. 
 
 ' Nat. Bacon's Difcouri'es, part ii. c. 13. p. 60. Month. Rev, vol. xiv. p. 43. 
 ' See Carte's Hift. vol. i. p. 660. Pari. Hift. vol. ii. p. 82. It appears from Rot. 
 Pari. 5 Henry I. num. 33. vol. ill. p. 529. that a fubfidy was granted. 
 
 of
 
 OF THE BRITISH EMPIRE. 87 
 
 of the commons, but of many of the peers, who affirmed, that It was 
 neceffary to humble their pride, by feizing the temporalties of the clergy, 
 and that nothing would render them ufeful to the State but reducing them 
 to poverty. The king, however, interpofed : he declared himfelf the 
 champion of the church, and, by his influence, the projeft, for that time, 
 was totally defeated '. 
 
 The next attempt originated, not in parliament, but in a military 
 council. It is well known, that Henry IV. had obtained an important 
 •vldtory at Shrewfbury, in which the gallant Percy, known by the name 
 of Hotfpur, and all the other leaders of that dangerous infurredlion, 
 were either killed or taken prifoners. Henry's finances were exhaufted 
 by the expences he had incurred in quelling this revolt ; and he was 
 totally unable to provide for the maintenance of fome troops neceffary 
 to flop the progrefs of the Welfh, who had made an incurfion into 
 England. In this emergency, his principal officers propofed that he fhould 
 feize the money, and the valuable equipages of thofe prelates who ferved 
 in the expedition. And the propofal would probably have been agreed to, 
 if Arundel^ who was then Archbifhop of Canterbury, and a man of fpirit 
 and refolution, had not boldly declared, " that they fhould win with 
 *' blood whatever they got from him :" and the times were too critical 
 to quarrel with fo high-fpirited and powerful a fubje£l '°. 
 
 But the moft dangerous attack was made by the Parliamentum indoElum, 
 It was the fecond parliament that had been affembled that year, and it ' 
 was held under the pretence that the preceding parliament had not been 
 fufficiently liberal in its grants. The commons were ftung by the reproach, 
 and reprefented to the king that his neceffities might be provided for 
 without burthening the laity, by feizing the temporalties of the church- 
 men, and applying them to the public ufe : they added, that the riches 
 of the clergy made them inattentive to their duty, and that diminifhing 
 their exorbitant revenues, would prove equally ufeful both to the church 
 and State. But the nation was not yet ripe for fo important an innova- 
 tion ; and the clergy were headed by the fame prelate who had formerly 
 withftood the commons, and who was determined not to fuffer the rights 
 of the church to be eafily infringed ". 
 
 ' Burn's Ecclef. Law, voce Monafteries. Stevens, p. 120. 
 
 "» Mort. vol. i. p. 675. ■' Pari. Hill. vol. ii. p. 88.
 
 S8 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 III the courfe of this difpute, it was ftated, that the church pofTeflcd 
 i8,4cx> plouglis of land, and that its revenue amounted to 485,000 marks 
 a year ; and the commons prcpofed, in a parliament held at Weftminfter 
 auiio 1410, to divide this property among fifteen new earls, fifteen 
 hundred knights, (ix thoufand efquires, and a hundred hofpitals, fubjedl 
 to 20,000/. a year, fcr the ufe of the king". Perhaps the incon- 
 fiderable portion which it was intended the crown fhould receive, was the 
 principal obftacle to its fuccefs. 
 
 But the dangers with which the church was environed, were not yet 
 brought to a crifis : for, in the fecond year of the reign of Henry V,, 
 the fame projedt was renewed : the commons again propofed to feize 
 all the revenues of the church, and to appropriate them to the ufe 
 of the crown '\ The clergy, however, efcaped, by giving up all the 
 alien priories, and by diverting the attention of the king and of the 
 people, from the internal government of the country, to thofe plans 
 of conqueft and of empire which were afterwards purfued. Thus the 
 wealth of the clergy was referved for the plunder of Henry VIII., 
 and proved a material inducement with that monarch to bring about 
 the reformation, or, at leaft, to put an end to the authority of the pope 
 iii England, and to make a confiderable redutSlion in the opulence of the 
 church. 
 
 The expenfive houfehold which Richard had maintained, was a cir- 
 cumftance peculiarly obnoxious to his fubjeds ; and indeed had princi- 
 pally given rife to the opprefiions of his reign. Henry was determined 
 to give, on this head, every poflible fatisfadion : and, accordingly, he 
 at firft reftrided the eftablifhment of his houfehold to 10,000/. But, in 
 Anno 1404. the eleventh year of his reign, he found it neceflary to increafe it to 
 16,000/. per annum '*. 
 
 The jealoufy which the commons entertained of the crown at this 
 time, in regard to its revenue, is worthy of particular attention. In two 
 different inftances, they allowed Henry only 6000/. for his own ufe, 
 appropriated the remainder of their grant to public fervices, and ap- 
 pointed their own treafurers, who were anfwerable for the money they 
 received, and were obliged to give in an account of their difburfe- 
 
 Houfehold. 
 
 Jealoufy of 
 the parlia- 
 ment. 
 
 >* Hume, vol. iii. p. 81. Pari. Hift. vol. ii. p. 1 14. 
 
 ' 3 Hume, vol. iii. p. 91. Pari. Hift. vol, ii. p. 1 36. '* Noy's Rights cf the Crown, p. 5. 
 
 ments
 
 OF THE BRITISH EMPIRE. 89 
 
 ments to parliament: and when Henry propofed, amto 1410, that a 
 grant fhould be given him of a tenth from the clergy, and a fifteenth 
 from the laity, yc;r his life, under the pretence of faving them the trou- 
 ble of meeting annually for that purpofe, the artful and infidious pro- 
 pofal was indignantly reje<£led ". 
 
 Henry IV.'s income, in the twelfth year of his reign, is faid to have Amount of 
 amounted only to the fum of 48,000/. /fr «««ttw, including the fubfidy 
 of wool, and the tenths of the clergy '*. But this is a point which it will 
 be proper to difcufs in a fubfequent part of this chapter. 
 
 HENRY V. 
 
 1 
 It is natural to indulge a confiderable degree of curiofity, to afcertain 
 
 what refources a monarch was pofTefTed of, who attempted the conqueft 
 of France, and had almofl accomplifhed an enterprife of fuch difficulty 
 and moment : for, although many circumftances had taken place favour- 
 ably to his views, and he had reaped very important advantages from 
 diflenfions among the French, and from his alliance with the royal 
 family, yet he could never have accomplifhed what he did perform, 
 without funds of great pecuniary value : and as hiftorians have rather 
 depreciated the extent of his revenue, it is the more neceflary to confider, 
 lirft, what temporary grants he received from parliament ; and fecondly, 
 what was the probable amount of his annual income. 
 
 Hume, who feems to be defirous of increafmg the admiration which Grants, 
 his readers mud naturally entertain of Henry's atchievements, by 
 placing his finances in the loweft and moft contemptible point of view, 
 has ftated that all the extraordinary fupplies, granted by parliament 
 during the courfe of Henry's reign, amounted only to feven tenths and 
 fifteenths (about 203,000/.) ; and he mentions, at the fame time, that 
 Henry's army amounted to fix thoufand horfe, whofe pay was two 
 Shillings a day ; and twenty-four thoufand archers, who received fix- 
 pence /^r day each ". The expences of fuch an army, therefore, muft 
 
 have 
 
 "5 Mort. vol. i. p. 706. " Noy's Rights of the Crown, p. 4. Stevens, p. 140. 
 
 »' Hift. vol. iii. p. 120. But it appears, from the authority quoted, Pari. Hift. vol. ii. 
 
 p. 174 and 175. that the parli.imentary grants amounteJ to nine-tenths and a third, and 
 
 N nine-
 
 his revenue. 
 
 90 HISTORY OF THE PUBLIC REVENUE 
 
 have amounted to 430,000/. per annum ; ahd confequently, all Henry *s 
 (grants, joined together, would have been exhaufted in Icfs than fix 
 months. But, in the firft place, the grants given to Henry v\'ere 
 greater than this hiftorian ftatcs ; and, in addition to them, he received 
 confiderable afliftance from the clergy, and the entire revenues of 1 10 
 monafteries in England, dependent on certain abbies in Normandy, 
 which the Englilh clergy had facrificed for the fecurity of their own 
 pofTeffions. 
 Amouut of There is alfo reafon to believe, that hiftorians have fallen into an error 
 
 with regard to Henry's annual income, M'hich is laid to have amounted 
 only 1055,754/. IOJ-. lOj^. "; " and with this weak fupply (according 
 *' to Voltaire), he undertook the conqueft of France." 
 
 The record on which this idea of Henry's revenue is founded, may 
 be feen in Rymer "'. It is not a little defedive ; but its omiflions may 
 be fupplied, from the full and particular account of the income of the 
 crown, which was laid before parliament anno 1433". From a cora- 
 parifon of the two records the following ftatement is drawn up. 
 
 Amount of HENRY V.'s annual Income. 
 
 I. To the parva cuftuma on wool - - -L^iSl^ i 2 
 
 1. To the magna cuftuma on ditto - 26,035 ^^ ^i 
 
 3. To the parva cuftuma on goods - - 2,438 ^ \\ 
 
 4. To the fubfidy of tunnage and poundage - 8,237 'O 9v 
 
 jC 40,687 19 9i 
 5. To the cafual revenue, arifing from efcheats, ihe 
 
 court of wards, (s*::. 15,066 11 i 
 
 Total, according to Rymer, {^ SS>75^ ^° i*^? 
 
 nine- fifteenths and a third, which would, atleaft, amount to 270,000/. : nay, it is faid, by 
 an old hiftorian, that 300,000 marks, or 200,000/. fterling, were given by the clergy and 
 laity, to enable the king to begin hisenterprife. Pari. Hift. vol. ii. p. 147. 
 
 '^ Hume, vol. iii. p. 120. Volt. Gen. Hift. vol. ii. part iii. c. 8. Mort. vol. ii. p. 1^2. 
 Noy's Rights of the Crown, p. 5 and 6. Davenant, vol. iii. p. lOO. 
 
 »s Foedera, vol. x. p. 113. " Rot. Pari. vol. iv. p. 433. 
 
 To
 
 OF THE BRITISH EMPIRE. 9, 
 
 ;C55.754 ro 10^ 
 
 1. Fee farm rents 
 
 2. Alien priories 
 
 3. Dutchy of Cornwall 
 
 4. South Wales 
 
 5. North Wales 
 
 6. County of Chefter 
 
 7. Manor of Shotfwick 
 
 8. Ireland 
 
 9. Dutchy of Lancafter 
 
 10. Dutchy of Aquitaine 
 
 11. Profits of Calais 
 
 12. Revenue of Windfor 
 
 
 Brought 
 
 over 
 
 To be added " : 
 
 
 - 
 
 £ 3612 
 
 II 3 
 
 - 
 
 277 
 
 5 
 
 - 
 
 2788 
 
 13 3 
 
 - 
 
 1139 
 
 13 II 
 
 - 
 
 1097 
 
 17 3 
 
 - 
 
 764 
 
 10 2 
 
 - 
 
 33 
 
 6 8 
 
 - 
 
 ^339 
 
 18 6 
 
 - 
 
 4952 
 
 13 3 
 
 - 
 
 b'o8 
 
 2 2 
 
 - 
 
 2866 
 
 I of 
 
 - 
 
 207 
 
 18 5 
 
 20,888 10 IO| 
 
 £76,643 I 8i 
 
 Many of thefe articles, and the alien priories in particular, muft have 
 yielded more ixi the reign of Henry V. For it appears, that in his fon's 
 minority, the management of revenue, and of public affairs in general, 
 was miferably negleded"; and, on the whole, it is probable, that this 
 monarch's income might amount to about ^0^000 1, per annum^ equal to 
 
 *' Thefe articles were liable to various dedudlions in the reign of Henry VI. as fpe- 
 cified in the record j but it is probable thatfuch encumbrances did not exift in the reign of 
 Henry V. 
 
 ** The following articles in the account of Henry VI. 's revenue, are fuppofed to include 
 thofe which are called cafual, in the record which Rymer has publiflied : 
 
 The farms of counties, green wax, £3'c. - - ;CS»^76 lo 8 
 
 Efcheats - - - - 500 o o 
 
 Rents of lands in wardfhip - - _ 1,604 19 ii 
 
 Rents of the Dutchy of Norfolk - -, _ Ij333 6 8 
 
 Other eftates in the hands of the crown - - 983 7 5 
 
 The Hanaper office, and a variety c^ orfier articles. - 35^37 >5 2 
 
 ;£i3>335 19 10 
 
 As the cuftoms had fallen in their produce about 10,000/. in the reign of Henry VI. 
 it is not to be wondered at, that thefe cafual revenues fhould alfodiminilhin their amounr, 
 
 N 2 l60jOOC
 
 98 HISTORY OF THE PUBLIC REVENUE 
 
 160,000 pound weight of filver, which, by the cheapnefs of provifions 
 at that time, would be equivalent to 500,000/. of our prefent fpecie. 
 Cuftoms. It is faid, that Henry V. was the fuft monarch, wlio had the fublidies 
 
 on the exportation of wool and leather, and the duties of tunnage and 
 poundage, joined together, granted him for life ^^ But Forfter re- 
 marks, though the fad is true, yet that Coke, and other eminent law- 
 yers, are miftakeri ill the roll, which is commonly adduced in proof of 
 that aflertion ^*. 
 
 HENRY VI. 
 
 There is hardly any inftance in the hiftory of England, or indeed of 
 any ftate, the governraent of which has not acquired an uncommon de- 
 gree of firmnefs and ftability, of a prince's fucceeding to the throne in 
 his infancy, in which his reign did not prove the iburce of infinite mifery 
 both to himfelf and his fubjedls. It is therefore the lefs furprifing, that 
 though Flenry VI. was born with the moft fplendid profpedls of any 
 prince in Europe, they fhould all be blaftcd by the immaturity of his age. 
 He was fcarcely nine months old when he loft his father : and though 
 he was crowned the fovereign both of France and England, he lived to 
 fee himfelf without a crown, a fubje£t, or a home. 
 
 Grants. ' The beginning of this monarch's reign was not burdenfome to his 
 
 Englilh fubjedts. It is faid, that only one fubfuly was granted during 
 the courfe of feven years, from 1437 to i-'i44, and that the lofs of France 
 was greatly owing to the fcantinefs of the fupplics *'. The parliament 
 was probably apprehenfive, that England might be made fubfervient to 
 France, if the conqueft of that country was completed, and perhaps 
 might alfo be defirous of rendering thcmfelves popular by their public 
 frugality. 
 
 Cuftoms. After fome temporary grants of tunnage and poundage, thefe duties 
 
 were at laft given for Henry's life ". They were continued at the 
 fame rate as formerly to natives, with this diftindion in their favour, 
 
 ■*' Hume, vol. iii. p. ill. 
 
 «♦ Introd. p. 39. It is granted by 3 Hen. V. Rot. 5. Vol. iv. p. 63. 
 
 »5 Hume, vol. iii. p. 167. Note [Y], ^^ 31 Hen. VI. An. 1454. 
 
 that
 
 OF THE BRITISH EMPIRE. 93 
 
 that aliens were to pay as much again as natural-born fubjedls : " The 
 *' law juftly keeping (fays a writer upon that fubjedt) a watchful eye 
 " over perfons that had not that fame kind of natural inflindl, if I may 
 " fo fay, to a country, which all fubjeds are fuppofed to have *'." 
 
 Several fubfidies, or pound rates, were granted to Henry, particularly Subfidies. 
 in the tenth, fourteenth, and twenty-feventh years of his reign. In the 
 latter fubfidy, there was a judicious gradation in the tax. For every per- 
 fon poflefled of only twenty fhillings/^r^«7/«»z,and from thence to twenty 
 pounds, was charged but fixpence in the pound; but from twenty to two 
 hundred pounds yearly, one fhilling in the pound ; and all eftates above 
 two hundred pounds per anmim^ were to pay two fhillings ". 
 
 During the whole courfe of this reign, not only ftrangers who occa- Poll-tax on 
 fionally came for the purpofes of trade, but alfo fuch as took up their 
 refidence in the country, were the objeds of general odium ; and the 
 confequence was, that poll taxes were laid upon them, from which the 
 natives of the country were exempted. This plan was firft carried into 
 execution in the eighteenth year of Henry, when a tax was impofed on 
 aliens, who were not denizens, of fixteen pence each, if they were houfe- 
 holders ; but if otherwife, only fixpence. The fame tax was renewed in 
 the twenty-feventh year, with an additional tax of fix fhillings and 
 eight pence on merchant ftrangers, and twenty pence on each of their 
 clerks ". But the heavieft duty took place in the thirty-firft year of his 
 reign, when a poll-tax of two pounds each was laid upon foreigners, not 
 denizens, during the kings life ; merchants, who landed in the realm, 
 and who had refided there fix weeks, were charged twenty fhillings ; 
 denizen houfeholders, ten marks, or 6/. 13^. 4^. each '°. 
 
 Henry, and his minlfters alfo, found means to raife money from 
 foreigners by other meafures befides parliamentary taxes. Firft, by 
 permitting James I. of Scotland to return to his own kingdom ; and, 
 fecondly, by ranfoming the Duke of Orleans, who had then been 
 detained in captivity, ever fince the battle of Agincourt^ and was at laft 
 releafed, upon paying 54,000 nobles, equal to 36,000/. flerling of our 
 money ". With regard to the king of Scotland, as he was not a 
 
 »' Forft. Introd. p. 40. " Rot. Pari. 28 Hen. VI. Num. 12. vol. v. p. i-^i. 
 
 " Ibid. 27 Henry VI. Num. 14. vol. v. p. 144. 
 
 ''■" Ibid. 31 Henry VI. Num. 10. p. 230. 3' Hume, vol. iii. p. 178. 
 
 • prifoner
 
 94 HISTORY OF THE PUBLIC REVENUE 
 
 prifoner of war, it was impofTible to demand a ranfoa> from him : but 
 40,000/. was exacted by way of equivalent for the entertaimnent he 
 had received in England; of which fum, it is probable that 10,000 
 marks remitted were in confequence of the fecond article of the treaty, 
 and as much more abated by w^y of portion with a relation of Henry's, 
 to whom James was afterwards married. The remaining 40,000 marks 
 were exadted ; and thus a, prince who, in time of profound peace, was 
 driven into the port of a neighbour by diftrefs of weather, was detained 
 in his dominions for many years, and after all was compelled to 
 pay a confiderable fum of money for his maintenance, previoufly to his 
 releafe. 
 
 Benevolence. ^'^ the twentieth, or, according to fome authors, in the twenty-fecond 
 year of his reign, the king required a benevolence for the purpofe of 
 defending Calais, at that time in imminent danger. Thefe contribu- 
 tions were originally accounted perfedlly free and voluntary ; they 
 were called Uberalitas populi by Richard I. ciirialitas by fuch of his fuc- 
 ceiTors as attempted to raife them ; and proceeded according to Henry 
 the Fifth's confeflion, ex fpontanea voliintate^ ac de jure vindicar'i non 
 pujfunt. But the inftrudlions given by this monarch to his commit- 
 fioners for procuring the benevolence, contained a very different doc- 
 trine. It is there ftated, that by law he could compel all his fubje£ls, 
 at their own charges, to attend his wars ; but that he was willing to fpare 
 fuch as would contribute as much as two days perfonal fervice would 
 fland the,n> in, according to their rank and quality. Thus he publicly 
 declared, that if they did not tax themfelves, money .would be exaded 
 from them, by other means much lefs pleafmg ^\ 
 
 Amount. There is extant in the rolls of parliament, a very particular account 
 
 of this monarch's renenue ", from which it appears, that the annual 
 produce, in confequence of the decreafe of the cuftoms, and mifmanage- 
 ment in the colle<Slion, had fallen to 64,946/. i6j". 4^. ; and fuch were 
 the deduftions from it, and theexpences of government, that the charges 
 exceeded the receipts 35,000/.//?;'" cuimnn. Nay, it was afterwards de- 
 clared in parliament, that the income qf the crown was reduced, by 
 grants, penfions, and otherwife, to only 5000/. '*. 
 
 3* Stevens, p. 157. Cotton, p. 177. Noy's Rights of the Crown, p. 48. 
 
 3^ Rot. Pari. vol. iv. p. 433. 3+ ibjd. 28 Henry VI. Num. 53. vol. v. p. 183. 
 
 6 During
 
 OF THE BRITISH EMPIRE. 
 
 9S 
 
 During Henry's minority, the revenues of the crown had been DirtrefTef 
 greatly diminifhed by the arts and neghgence of thofe who were in 
 power, and in confequence of the expences incurred in carrying on the 
 war againft France, which were principally defrayed from the income 
 of the crown, the parliament furnifhing very little affiftance. Nor 
 were matters much amended when the king took the government into 
 "his own hands: for he fufFered himfelf to be defrauded by his minifters, 
 who devoured the greaitefl: part of his revenues, and who, in the words 
 of an ancient record, .gave aVvay the rights, pofieffions, and profits of 
 the crown, in the manner of a fpoiP^. Different fteps were taken by 
 parliament, and by his council, to improve the king's fituation. In the 
 parliament held anno 1450, a full refumption w^as made, of all the 
 grants which had taken place fmce the death of Henry V. To prevent 
 the king from wafling his revenues, his council advifed him to conveiy 
 to the archbifhop of Canterbury, in trufl, all the profits of wards, 
 marriages, reliefs, efcheats, and forfeitures, to defray the expences of the 
 houfehold ^* ; and in the 29th year of his reign, thofe expences were 
 reduced by parliament to 12,000/. per annum ; whereof 2000/. was paid 
 out of the queen's jointure, or feparate eflate". His debts, at the fame 
 time, amounted to the enormous fum of 372,000/. ; towards the pay- 
 ment of which, the parliament was obliged to give fome afliftance ; and 
 his reign furnifhes one of the firfl examples in the Englifh hiflory, of a 
 debt being contracted on that fpecies of fecurity ". 
 
 EDWARD IV. 
 
 This prince (the firfl of the houfe of York that afcended the thfone) 
 was at lafl fortunate enough to recover the rights of his family, after a 
 long, fevere, and bloody contefl. And, perhaps, it is the only ex- 
 ample in hiftory, of one family driving another from the throne, who 
 liad pofTefled it fixty years ; after having been for that fpace of time in 
 
 ^' See Noy's Rights of the Crown, p. 23. The duke of Suffolk was accufed by the 
 Commons, of having embezzled 60,000/. which had been left by his predece/Tor, in the 
 office of treafurer. Rot. Pari. vol. v. p. 181. 
 
 ^^ Noy's Rights of the Crown, p. 23. '"'' Ibid. p. 16. 
 
 3^ Hume, vol. iii. p. 215. See Part ii. Chap. iii. where it will appear, that the practice 
 may be traced to a ftill more ancient period. 
 
 the
 
 96 HISTORY OF THE PUBLIC REVENUE 
 
 the power of its rival, and having often fworn allegiance to it. But as, 
 on the one hand, nothing could exceed the fimplicity and weaknefs of 
 Henry's charadler ; fo on the other, Edward's valour, fpirit, and acti- 
 vity, were fcarcely to be equalled. 
 
 Refumption. The difgraceful poverty to which the crown had been reduced, ren- 
 dered a refumption of the crown lands a natural mode for Edward to 
 purfue, in order to increafe his revenue ; and, in fad, the plan (which 
 
 Anno 1468. was infmuated by Edward himfelf, in a fpeech from the throne) was 
 readily agreed to by his parliament. Edward's domains had been pre- 
 vioufly increafed by the forfeited eftates of no lefs a number than one 
 hundred and forty of the principal nobility and gentry of England, who 
 had fupported the houfe of Lancafter. It is probable, however, that 
 what was feized from the adherents of that family, he was often under 
 the neceffity of beftowing on his own friends, as a reward for their fer- 
 vices and attachment. 
 
 Grants. Six tenths, and as many fifteenths, with three quarters additional of 
 
 each, were obtained by this monarch from his parliament, together with 
 different fpecific fums for the maintenance of a body of archers ; and a 
 yearly fubfidy upon foreigners, whether denizens or aliens. But the fums 
 which he received were very inadequate to the various expences he was 
 put to, and which a young and gallant monarch, like Edward, would 
 naturally be inclined to incur ". 
 
 Benevolence. In the firft year of his reign, he had received from the clergy a 
 benevolence^ or, in the words of the record, a voluntary fubfidy *° .- but a 
 partial contribution of that nature was infufficient when he engaged in 
 a war with France ; and accordingly, in the twelfth year of his reign, 
 he endeavoured to procure a general benevolence, or free gift ; and 
 fendmg for all the wealthieft perfons in his dominions, he laid his necef- 
 fities before them, and earneftly intreated their affiftance. This meafure 
 is faid to have produced a very confiderable fum. Many contributed 
 to avoid being fuppofed parfimonious, and others, that they might not 
 feem difafteded, and confequently bring upon themfelves the king's 
 difpleafure and refentment. Some did it out of afFeclion to his perfon 
 and family, whilft others could not refift the obliging manner in which 
 their aid was requefted. A ludicrous incident, which took place with 
 
 " Stevens, p. 160 and 161. ♦" Ibid. p. i6r. 
 
 regard
 
 OF THE BRITISH EMPIRE. 
 
 ^1 
 
 Annuity 
 from France. 
 
 a'egard to this benevolence, has been often related. ; A rich widow, ad- 
 vanced in years, was perfonallj applied to by Edward for her benevo- 
 lence. She was fo much pleafed with the manner in which the requeft 
 was made, and the gracefulnefs of Edward's perfon, who was fuppofed 
 to be the handfomeft man in his time, that fhe immediately anfwered, 
 " By my troth ^ for thy lovely countenance^ thou Jljalt -have even twenty 
 " pouuds."" The fum was fo very confiderable, that the king thought 
 himfelf bound to give the old lady a kifs, in token of his fatisfadion, 
 who was fo much delighted with that unexpeded mark of the royal 
 favour and attention, that fhe added twenty pounds to her former 
 donation *'. 
 
 The confequence of Edward's expedition to the continent, was a 
 -peace with Lewis XI. by which that monarch became bound to pay 
 Edward 75,000 crowns (to indemnify him for the expences he hadbeen 
 put to), and an annuity of 50,000 crowns, for their joint lives. It has 
 been much difputed, whether this annual payment fhould be called a 
 tribute or a penfion. The firfl would imply the fubjedion of France 
 to this country, which it is impoflible to fuppofe could be really meant 
 by the agreement ; and the name of penfion, would infer bounty on 
 the part of France, and dependance on the part of England, which 
 was equally abfurd and ridiculous. In the acquittances given for this 
 annuity, it is called ce?ifus : and, in fad, it was an infamous bargain, 
 which none but fuch a king as Lewis would have agreed to, and which, 
 confidering Edward's mighty boafts and preparations, did him very little 
 credit *'. 
 
 This difgraceful end of the expeditic.n to France, had filled the nation Extortions 
 with fo much difcontent, that the king did not think proper to apply 
 to parliament for any pecuniary afTiftance, and was reduced to the ne- 
 cefTity of having recourfe to other means for fupplying his exchequer. It 
 is faid, that he adopted fome very oppreflive expedients for that purpofe, 
 which the hiftorians of this reign have not thought proper to communi- 
 cate. But it is known, that i_thofe- whofe titles were in any rcfped 
 defedive, which might be expeded in confequence of fo much internal 
 confufion, were obliged to pay confiderable fums of money for a con- 
 firmation of their grants ; and the church complained of the exorbitant 
 
 *' Pari. Hift. vol. ii. p. 364. 
 
 ^* Hume, vol. iii. p. 257. 
 
 o 
 
 Stevens, p. 163. 
 fines
 
 9» HISTORY OF THE PUBLIC REVENUE 
 
 fines he demanded for the reftltution of temporalities, and of his 
 difpofmg of the profits of fuch biOioprics as happened to become 
 vacant *'. 
 
 Merchandife- Edward had twice folemnly pledged himfelf, firft, in the feventh, 
 and fecondly, in the twelfth year of his reign, to live upon his own 
 revenues, and not to burden his people ■**. Among the various plans 
 he purfued to preferve that pledge inviolate, may be confidered his 
 engaging in commerce, and carrying on merchandife to a confiderable 
 extent *\ Such a fyftem other fovereigns have purfued ; and a monarch 
 who has the abfolute government of his kingdom, and who, in confe- 
 quence thereof, can fecure a monopoly of any commodity he chufes to 
 deal in, may trade to advantage; but, in general, this circumftance may 
 be confidered as the certain mark of an indigent prince, and of an op- 
 prefled and barbarous people. 
 
 Houfehold. During the whole of this reign, the expences of the king's houfehold 
 
 were a perpetual fource of complaint. Edward had promlfed to reftrain 
 fuch charges within proper bounds *'. But the hofpitable manner in 
 which the kings of England lived at that time, rendered any material 
 reformation very difficult to be effected ; and after all the promifes 
 which he had made, of living upon his own income, parliament was 
 obliged to allow ii,ooo/. per annum out of the cuftoms, and other 
 public revenues of the kingdom, to affift him in defraying thefe 
 expences *'. 
 
 EDWARD V. 
 
 > 
 
 This unfortunate prince fucceeded his father, when only about twelve 
 years old ; and though he has a place in the catalogue of our kings, it 
 can hardly be faid, that he actually reigned. The government of the 
 country, it is true, was carried on in his name, for the fpace of about: 
 two months ; but, during that period, no parliament was held, nor did 
 any material tranfadlion take place. His uncle, Richard duke of 
 
 *' Carte, vol. ii. p. 796. ** Noy's Rights of the Crown, p. 13. 32, & 33. 
 
 *5 Mort. vol. ii. p. 116. Carte, vo). ii. p. 796. 
 
 *° Noy's Rights of the Crown, p. 13. 
 
 ■»' Rot, Pari. 22 Edward IV. Num. 2. vol. vi. p. 199. 
 
 Gloucefter,
 
 OF THE BRITISH EMPIRE. JT? 
 
 Gloucefter, employed the whole dme in carrying on machinations for his 
 own aggrandifement ; and being proclaimed king, vainly endeavoured 
 to fecure the power he had acquired, by the murder of this helplefs mo- 
 narch, and of his brother the duke of York, the only males of that family, 
 who flood between him and the throne. 
 
 RICHARD III. 
 
 A tyrant, who paves his way to the throne by deceit, treachery, and 
 murder, cannot expeifl to enjoy much happinefs from the power which 
 he has acquired, and foon finds that he has imraerfed himfelf in an end- 
 lefs feries of crimes, for the pofleflion of very precarious and Jhortlived 
 authority. Of this, Richard's reign, which continued for the fpace only 
 of two years and two months, furnifhes us with a memorable inftance ; 
 as it proves, that valour and ability, though united, -are not fufficient to 
 preferve a crown on the head of an ufurper. 
 
 Richard's title to the crown was grounded upon principles fo contrary AboHdon of 
 to the conftitution of England, and fo fubverfive of every tie by which 
 both, private and public focieties are linked together, that he feduloufly 
 endeavouredj by every popular art, to ingratiate himfelf with the people, 
 and with that view having aflfembled a parliament, he procured an a<ll to 
 abolifli, for ever, that mode of exadlion, called Benevolence, which had 
 not a little alarmed the public, on account of the illegality of the prac- 
 tice, and the great extortion which it had occafioned **•" " 
 
 The only grant which Richard received, during the fliort courfe of Grants, 
 his reign, was that of tunnage and poundage for life *'. Indeed the 
 cuftoms had become fo important a branch of the revenue, that no 
 monarch, however frugal, or however anxious to acquire popularity, 
 could carry on the government without the additional income which 
 they afforded. 
 
 To Richard, it is probable may be afcribed the firfl attempt to eflablifli Po.'b. 
 polls in England. The -plan was originally formed in the. reign of tiis 
 
 ♦* See aft i Rich. III. cap. 2. Vet this tyrkht afterwards fxacled a benevolence tyhn- 
 felf. Pari. Hift. vol. ii. p. 410. 
 
 "9 Rot. ParL I Rif. IH. vol. vi, p. 238. 
 
 O 2 brother
 
 ioo HISTORY OF THE PUBLIC REVENUE 
 
 brother Edward, when ftages were placed at the dlftance of twenty miles 
 from each other, in order to procure Edward the earliefl intelligence of 
 the events that paffed in the courfe of a war, which had arifen with the 
 Scots. But Richard commanded in the expedition ; and as it was a 
 proje(fl which feems more likely to have occurred to a man of his fa- 
 gacity and talents than to his brother, the merit of it ought probably 
 to be given to Richard, in whofe reign the pradlice was extended over 
 the greater part of the kingdom '°. But his abilities and his valour were 
 equally fruitlefs. For after a fhort reign he was flain, fighting gallantly 
 at the decifive battle of^Bofworth. 
 ConduCon. It is hardly neceflary to fum up, at the conclufion of this chapter, the 
 little progrefs that had been made in the fcience of revenue during the 
 period to which it relates. It was a time too full of bloodflied and 
 confufion for any advancement whatever to take place in-any branch of 
 the civil department. It is remarked, however, by a great ihiftorian, that 
 during the courfe of the conteft between the two rival houfes, not an 
 inftance can be produced of any tax being impofed without the fandion 
 .of parliament. That important law in the conftitution came thus to be 
 unalterably fixed, and" could not afterwards be fafely broken through by 
 any monarch, howeve;r bold or daring, or whatever authority he might 
 have acquired in other matters ". : 
 
 CHAP. Vtll. 
 
 Of the Revejiiie of England wider the Government of the 
 
 Houfe of Tudor. 
 
 A Variety of circumftances contributed to mark , out the acceflion 
 
 of the Houfe of Tudor, as one of the mod important scras in 
 
 the hiftory of England. By the marriage of Henry VII. who was 
 
 50 Mort. vol. ii. p. 127; 51 Hume, vol. iii. p. 122; 
 
 acknow-
 
 OF THE BRITISH EMPIRE. • lOi 
 
 acknowledged to be the reprefentative of the royal branch of Lancafter, 
 ro Elizabeth, daughter of Edward IV. and heirefs of the line of York, 
 the fatal contefl between the two houfes was brought to a conclufion. 
 The Englifh, no longer diftracSled by domeftic ftrife and difcord, were 
 enabled to turn their eyes towards the continent ; and inftead of con- 
 fining themfelves to the narrow tranfadlions of their own ifland, began 
 to take an adlive concern in the general politics of Europe. Henry's 
 encouragement of commerce, and his plans for reducing the power and 
 opulence of the ancient nobles, and for exalting the Commons on their 
 fall, proved the means of introducing internal changes of the grcateft 
 and moft elTential importance. The fame xra boafted the difcovery 
 of the Eaft and AVeft Indies, and of America, by which a total revolu- 
 tion was effected in the ideas of individuals, and in the views of ftate?. 
 In a word, to this period may be traced the feeds of that political fyftem, 
 which has ever fmce engaged the attention, and occupied the thoughts 
 of the principal powers of Europe. Nor is it of lefs importance with 
 refped to the general objed of this work ; for, in proportion as the 
 fcene became more extenfive, greater pecuniary aids were required, than 
 England had been accuftomed to fupply ; and new fources of revenue 
 confequently became neceflary. 
 
 Revenue of H E N R Y VII. 
 
 It is remarked, by a great hiftorian, that in the reign of Henry VII. 
 the Englifh were confiderable lofers by their ancient privilege, which 
 fecured them from all taxations, except fuch as were impofed by their 
 reprefentatives in parliament '. But the juftice of this obfervation there 
 is great reafon to doubt ; for if Henry's avarice was fuch, that it broke 
 through every reftraint of law, to what height would it not probably 
 have been carried, had it been fubjeft to no limitation whatfoever ? 
 His appetite, like his power, would have known no bounds, and not 
 only the rich, and thofe who were immediately under the eye of 
 the fovereign and his agents, would have been pillaged, but every 
 
 " Hume, vol. iii. p. 389. 
 
 creek
 
 Titn 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Cufloins. 
 
 Grants. 
 
 Nortltern 
 infurredion. 
 
 creek would have been ranfacked, nor would the pooreft cottage in 
 the remoteft corner of the kingdom, have been exempted from his ra- 
 pacity. 
 
 Henry, like his predecefTor Richard, obtained a grant of tunnage and 
 poundage for life \ and the cuftoms became, ever after,a permanent branch 
 of the royal income. The tunnage was at the rate of three fhillings to 
 natives, and fix fhillings to merchant ftrangers ; and the poundage at the 
 rate of a fhilling on all merchandife exported and imported, tin only ex-, 
 cepted, for which aliens were to pay two fhillings. No alteration was 
 made during Henry's reign, except an additional duty of eighteen fliil- 
 lings per butt- laid upon malmfey, imported by merchant flrangers, in 
 confequence of a tax impofed by the Venetians upon the ihipping or 
 commodities of this country ^ 
 
 Henry received confiderable grants from the different parliaments 
 he affembled in the courfe of his reign ; and he always found them 
 obfequious. Even the people paid any moderate tax, or any impofition 
 to which they had been formerly accuftomed, or which the exigencies 
 of the (late required, without murmur or complaint. But the king was 
 fometimes fo exorbitant in his demands, and his parliaments were fo 
 prodigal of the public money, that it gave rife to very dangerous in- 
 furredions. 
 
 A parliament had met, attfw 1487, to furnifh the king with a fupply, 
 for the purpofe of enabling him to give efFedual afTiftance to the dutchefs 
 of Brittany ; and a grant (about the nature of which hiftorians difFei") 
 w^as accordingly voted. But the amount and weight of the fubfidy, 
 joined to the general harfhnefs and unpopularity of Henry's govern- 
 ment, excited fuch difcontent among the inhabitants of Yorkfhire and 
 Durham, that a rebellion fuddenly broke out. The earl of Northum- 
 berland, who refufed to countenance the infurredtion, was llain by the 
 infurgents, and they feemed determined to carry on their daring enter- 
 prife with the greateft ardor and perfeverance : but an engagement hav- 
 ing taken place with the king's forces, in which they were unfuccefsful, 
 the rebellion was fupprelTed *. 
 
 » Rot. Pari. I Hen. VII. vol. vi. p. 268. 
 * Bacon's Hift. of Henry VII. edit. 1666. p. 40. 
 
 I 
 
 ' 7 Hen. VIL cap. 7. 
 
 A more
 
 OF THE BRITISH EMPIRE. 103 
 
 A more ferlous revolt took place In the year 1497. ^^ ^ parliament C^ofnifti re- 
 held that year, afubfidy amounting to 120,000/. and two fifteenths, had 
 been voted, under the pretence of fome incurfions of the Scots \ The 
 inhabitants of the Weft, who thought themfelves fecure from any attack 
 on that quarter, and who confidered the northern barons as bound, by 
 the tenure of their pofiTciiions, to repel fuch inroads, murmured not a 
 little at the impofition, and the natives of Cornwall, In particular, flew 
 to arms. Their numbers were fo formidable (amounting to above 1 6,000 
 men), that until they ventured to approach the capital, they met with no 
 refiftance. But in a battle fought near Blackheath, the king's troops 
 gained a complete victory ; and 2000 of the infurgents expiated their 
 rebellion with their blood *. 
 
 Though by an aft in the reign of Richard III. Benevolences had been Benevolence, 
 for ever aboliflied, yet as he was deem^ed an ufurper, his laws, It was 
 alTerted, were confequently invalid ; and Henry ventured, on two 
 different occafions, to have recourfe to this unpopular mode of levying 
 money, though, according to Lord Bacon, he did not venture to revive 
 it, until he had procured the confent of parliament \ It is generally 
 fuppofed that archbifhop Morton was the author of the propofal ; and 
 a claufe inferted in the inftrudlions given by him to the commiffioners 
 for levying the tax, which is commonly known by the name of 
 Morton*^s fork or crutch, has been often quoted. All defcriptions of 
 men (he told the commiliioners) muft contribute largely to the king's 
 fupply : for fuch as are fparing mufi: be enriched by their frugality, and 
 cannot therefore have any excufe ; whilft thofe who live in a fplendid 
 and hofpitable manner, fhould pay in proportion to their expences. 
 Confiderable fums of money were levied by thefe means. The city of 
 London alone paid 9,688/. ijs. A.d. and Henry was artful enough 
 to have the exaction legally authorifed by an a£t of parliament, which 
 empowered him to demand any fum that had been offered, by way of 
 compofition, for the Benevolence, and had not yet been paid \ Anno 
 
 5 Bacon, p. 92. * Pari. Hift. vol. ii. p. 452. 
 
 7 Hid. of Henry VII. p. 58. Hume (vol. iii. p. 350. note U.) fuppofes that Bacon 
 was miftaken, but the contrary appears from ii Henry VII. cap. 10. intitled, A remedy 
 or means to levy a fubfidy or benevolence before granted to the king. 
 
 • See a£t 1 1 Henry VII. cap. 10.
 
 104 HISTORY OF THE PUBLIC REVENUE 
 
 I J04, the fecond benevolence was levied, which, however, was not fo 
 produQive : for the people were diffatisfied with fuch repeated exadlions, 
 and knew well that he had no occafion for money at that time, being at 
 peace with all his neighbours, and having his coffers full '. 
 
 Feudal lids. "ji^q parliament 1504, was principally affembled to raife an equivalent 
 for two well-known feudal aids, which Henry was entitled to demand, 
 in confequence of the marriage of his eldeft daughter to James IV. king 
 cf Scotland, and his eldeft fon Arthur (who died foon after) having 
 been made a knight. Thefe were the two greateft and moft expenfive 
 folemnlties to which feudal lords v/ctq liable, when that fyftem was at 
 its height ; and hence, by an ancient cuftom, their vaffals were bound 
 to furnifh them with fome pecuniary affiftance, though, in ftrift pro- 
 priety, it ought never to exceed the real charges they were put to. But 
 Henry was refolved to take advantage of any pretence to fill his ex- 
 chequer, and therefore obtained from parliament 31,006/. 4^. yd, as an 
 equivalent for thefe aids ; and this fum, inftead of being furnifhed by 
 the immediate vaffals of the crown, who alone were, legally liable, was 
 levied upon the whole community, whether poffeffed of perfonal or of 
 real property, and was thus rendered particularly obnoxious '°. 
 
 ji^erchandife. Henry, who thought no gain, however inconfiderable, beneath his 
 notice, made fome profit alfo by letting out fhips for hire, and even by 
 lending money, upon intereft, to merchants, whofe ftocks were not ade- 
 quate to the enterprifes they had in view ". Nay, fo ftrong was his 
 defire to promote the commerce of his fubjecls, that he is faid to have 
 lent money without intereft when it was really neceflary '\ 
 
 Money from Among the other means which this monarch made ufe of to increafe 
 orejgners. j^j^ wealth, may be included the fums of money which he drew from 
 foreign nations. The great objedl of the French, at that time, was the 
 acquifition of the province of Brittany ; and it was at Lift effedled, 
 greatly owing to Henry's avarice and negledl. For the dutchefs of 
 JJrittany, unfupported by the king of England, was compelled, how- 
 s' Hume, vol. iii. p. 389. "° See Rot. Pari. 19 Hen. VII. Num. xi. vol. vi. 
 p. 532. In p. 535, there is a particular account of thofe who were to pay thefe aids in 
 ciach town and county. 
 
 " Noy's Rights of the Crown, p. 176; '* Hume, vol. iii. p. 401. 
 
 ever,
 
 OF THE BRITISH EMPIRE. ,05 
 
 ever reludlantl}'-, to marry Charles Vlir. of France, to whom fhe 
 had an averfion ; and thus her dominions were again annexed to 
 that powerful monarchy. Henry was defirous of receiving, at 
 leaft, forae confolation by the money which the king of France would 
 pay to fecure fo valuable a pofleffion; and he adtually obtained 
 745,000 crowns, equal to 186,450/. fterling, in lieu of certain claims 
 he had boldly urged, though they were far from being well founded '\ 
 Two hundred thoufand ducats were alfo given by Ferdinand king of 
 Spain, with his daughter Catherine, married firft to Arthur, the king 
 of England's eldeft fon, and after his death, to Henry his fecond. The 
 king's principal inducement to celebrate the fecond marriage (an event 
 produdlive of infinite mifery both to his pofterity, and to his fubjeds), 
 was, to avoid refunding the confiderable portion he had received from 
 Ferdinand. 
 
 Henry renewed the old mode of extorting money, by compelling per- Extortions, 
 fons poflefled of forty pounds a year in land, either to receive knighthood, 
 or to compound in its ftead. And the rights which he enjoyed as the 
 feudal lord, and fuperior of the kingdom, proved, under his government, 
 an endlefs fource of exadion, to which every proprietor of land was ex- 
 pofed. But in the latter part of his reign, a general fyftem of oppreffion 
 was not only begun, but refolutely perfevered in. Every penal law, 
 however ancient, or however injurious to the public intereft, was 
 rigoroufly enforced ; and Empfon and Dudley, two able, but rapacious 
 judges, employed by Henry, as minifters to fleece the people, thought 
 no expedient that yielded money, however bold, mean, or fraudulent, 
 too infamous to be purfued. In the ftrong words of Bacon, " tbey con- 
 " verted law andjujlice^ into wormwood and rapine "*." 
 
 As Henry received more money, and fpent lefs than any of his pre- Treafure. 
 deceflbrs on the throne of England, it is natural to exped, that he muft 
 have left behind a very confiderable treafure ; and in fad", it amounted 
 to 1,800,000/. equal t6 2,750,000/. of modern money. Indeed, con- 
 fiderlng the increafed price of commodities fince that time, and the great 
 augmentation of fpecie, this fum was equivalent to, at leaft, eight millions" 
 
 ■3 See Pari. Hift. vol. ii. p. 447. He alfo received nn annual tribute, or penfion of 
 25,000 crowns. '* Hift. of Hen. VII. p. 119. 
 
 »' £acon, p. 132. Hume, vol. iii. p. 389. 
 
 P at
 
 io6 HISTORY OF THE PUBLIC REVENUE 
 
 at prefent. Some authors have magnified his treafure to four millions 
 and a half in bullion, befides plate and jewels '* ; but that calculation is 
 totally incredible. 
 Remorfe. Henry found, however, that his immenfe treafures could not admi- 
 
 nifter to him, either confolation or alTiftance, in the hour of ficknefs, 
 and on the bed of death. His arts, and his extortions, then appeared 
 in their real colours. All the means that could be devifed, to allay the 
 terrors of a guilty confcience, were tried in vain ; yet his contrition was 
 either fo weak, or his avarice ftill fo predominant, that he could not 
 be prevailed upon, during his own life, to make any reparation to thofe 
 whom he had injured; and his fon, notwithftanding the ftridl injunc- 
 tions which he received, was equally loath to part with any fliare of 
 the plunder that had been amafled. Empfon and Dudley, indeed, the 
 inftruments of his father's oppreflion, were publicly executed to gratify 
 the people. But that was a poor recompenfe for the many exactions 
 to which the nation had been fubjedted, in the courfe of their admini- 
 ftration '\ 
 
 HENRY VIII. 
 
 Whllft the hiftory of the reign of Henry VIII. remains unexpunged 
 from the annals of this country, it is impoflible for the people of Eng- 
 land to undervalue the happinefs and fecurity, which neceflarily refults 
 from a free conftitution. They may perceive, by a review of his 
 imperious and arbitrary fway, to what miferies they would have been 
 fubjeft, had the fame tyrannical fyftem been continued ; and they may 
 thence learn to encounter any danger, however great, in order to pre- 
 ferve that limited form of government which fhields them from a thou- 
 fand opprefTions, and from which fo many important advantages are 
 derived. In particular, they will find, from Henry's hiftory, that ab- 
 folute governments are neceffarily accompanied with the moft intole- 
 rable financial exadions, and that the wealth of the people is often 
 wantonly facrificed, to gratify the palTions of the fovereign, or the 
 caprices of his minifters. 
 
 •* Reftauranda, by Fabian Philips, p. 24. who fays, that Lord Salifbury fpecified that 
 fum to king James. See alfo Stevens, p. 17!. " Hume, vol. iii. p. 411. 
 
 As
 
 OF THE BRITISH EMPIRE. to; 
 
 As Henry had fo great a treafure left him by his father, he had Grants, 
 no immediate occafion to apply to parliament for pecuniary affiftance. 
 But, no fooner was it fquandered, than many confidcrable grants were 
 obtained under various denominations ; the particulars of which, are not 
 fufficiently interefling to the prefent times to require being enumerated. 
 But the circumftances attending one grant are of fo very fmgular a nature, 
 that it is proper -to mention them. A parliament was affembled in the 
 year 1523, to raife fupplies for carrying on a war with France, into 
 which Flenry, at the inftigation, and indeed to ferve the purpofes of 
 Wolfey, had rafhly entered. The Cardinal had pledged himfelf for the 
 obfequioufnefs of the Houfe of Commons ; and, fully imprelTed with 
 ideas of his own dignity and importance, he came perfonally to the 
 Houfe, and after making a long harangue to prove the urgency of 
 the king's neceffities, concluded with requiring a grant of 800,000/. 
 payable at the rate of 200,000/. per antiuiriy for the fpace of four 
 years '*. So exorbitant a demand had never been heard before within 
 the walls of that houfe ; and the court met with a firmer and ftronger 
 oppofition than was expeded. Only one half of the fum was voted, 
 to which, afterwards, a fmall addition was made, in confequence of a 
 circumftance which evinces the manner in which Henry treated his par- 
 liaments. Finding that the bill of fupply had met with fuch unexpeiSted 
 obfl:ru6tions, he fent for Edward Montague, a lawyer of diftinguifhed 
 eminence, and one of the greateft leaders of the Houfe, and briefly told 
 him, that if the fupply did not pais, his head fhould anfwer for it ia 
 the morning '". 
 
 In a fpeech which Wolfey made to parliament, the increafe of the Cuftoms. 
 cuftoms is mentioned as a ftrong proof of the incrcafing wealth and 
 opulence of the kingdom ; and it is certain, that tunnage and poundage 
 were paid during the whole of Henry's reign. There is fome difference 
 of opinion in regard to the manner in which thefe duties were granted. 
 Hume Hates, that Flenry had levied them for fix years by his own au- 
 thority, without any fandlion from parliament ". But Gilbert afferts, that 
 
 " Hume, vol. iv. p; 47. 
 
 ■' Pari. Hift. vol. iii. p. 35. This anecdote, however, is only traditional. 
 
 jO 
 
 Hift. vol. iv. p. 272. 
 
 P 2 they
 
 rogatives. 
 
 108 HISTORY OF THE PUBLIC REVENUE 
 
 they were exprefsly given by parliament in the firft year of his 
 reign *'. 
 Poll-tax. In the fourth of Henry, a poll-tax was granted in addition to other 
 
 impofitions. A duke was charged ten marks ; an earl four pounds ; 
 a baron two pounds ; a knight thirty fliillings ; and befules other rates, 
 every perfon of fifteen years of age, and upwards, was charged four 
 pence '\ This tax, which was impofed with fome degree of attention 
 to the wealth and ftation of the different ranks of the people, was paid 
 without much oppofition. 
 Feudal pre. The feudal prerogatives of the Crown were becoming every day lefs 
 profitable. A perpetual flruggle was maintained between the fuperior 
 and the vafTal, in which the latter was generally the moft fuccefsful ; 
 and, among other artifices, it became, at laft, a common praftice en- 
 tirely to evade the payment of any feudal incident, by making a truft 
 fettlement of an eftate. For, on the one hand, it was faid, that the Lord 
 Paramount could not attack the truflee, who held it for the behoof of 
 another ; and on the other, it appeared, that the real proprietor M'as not 
 in pofTeffion of the property, and confequently could not be made liable. 
 In fome degree, to remedy what was then confidered as a very 
 dangerous abufe, Henry propofed, that every man ihould be permitted 
 to difpofe of one half of his landed property in trufl, and that the other 
 half fhould be fubjed to the former incidents of the feudal tenures. 
 This compromife, though agreed to by the Lords, was rcjeded by the 
 Commons. But fuch was the fubjedion under which parliament was 
 held by the daring and imperious Henry, that it never ventured to oppofe 
 his will without having reafon to regret it. On this occafion, he pro- 
 cured a decifion of the judges in his favour, and not long afterwards, 
 the Commons were reludantly compelled to agree to an slQ, by which 
 it was declared, that the perfon who reaped the ufe, or enjoyed the 
 profits of the eflate, fhould be deemed the proprietor ^\ Thus, inftead 
 of the half, the whole of their lands were again made fubjed to thefe 
 feudal burdens. 
 
 •■ Treatife on the Exchequer, Appendix, p. 286. He fays, the roll is not printed. At 
 any rate, the aiSt 1 Hen. VHI. cap. 5. is fufficicnt. 
 *» Lords Journal, vol. i. p. 25. 
 *3 Hume, vol. iv. p. 108 and 151. 27 Hen. VIII. cap. 10. See alfo 32 Hen. VIII. cap. i. 
 
 At
 
 OF THE BRITISH EMPIRE. lo^ 
 
 At the time of which we are now writing, England was unqueftion- Firft-fru.'ts 
 ably the richeft jewel in the papal crown. Befides the uncertain income ^" '^"' ^* 
 arifing from indulgences, difpenfations, ^c. the pope was thought entitled 
 to the duty called Peter's pence, and to the firft fruits and tenths of all 
 the benefices in the kingdom. The annates, or firft-fruits, was a tax 
 which the pope received as an equivalent for the firft year's profits of 
 every fpiritual preferment, originally introduced into the kingdom in 
 the reign of king John, whofe mifcondu£l had reduced him to a total 
 fubferviency to the church of Rome. It is calculated, that in the fpace 
 of about fifty years, no lefs than 160,000/. had been fent from England 
 on account of that claim alone ''*. Upon Henry's quarrel with the j^ope, 
 and his being invefted with the title of head of the church of England, 
 the firft-fruits and tenths were annexed to the revenue of the Crown ". 
 "With regard to Peter's pence, and the various modes which had been in- 
 vented by the church of Rome, of fleecing the people under religious 
 pretences, they had been previoufly aboliflied ''". 
 
 Henry imitated his father's example, in endeavouring to reap pecu- M^oney from 
 niary advantages from the treaties he entered into with foreign powers, princes. 
 Tournay having been taken by the Englifh, 600,000 crowns was de- 
 manded previoufiy to its reftitution ''^ ; and Henry availed himfelf of the 
 fituation to which France was reduced, by the captivity of its fovereign, 
 Francis I. to obtain very lucrative ftipulations. But the moft fingular 
 article of that nature, was contained in a treaty, concluded at London, 
 ci/ifio is^ji by which Henry agreed to renounce all claim to the crown 
 of France ; in return for which, Francis became bound to pay,yor ever^ 
 50,000 crowns a year, to Henry and his fucceffbrs '\ 
 
 Under Wolfey's adminiftration, an attempt was made, which, had Wolfey's 
 it fucceeded, would have proved the entire ruin of the liberties of Eng- tortion.° 
 land. It was to raife money by royal proclamation. Commiflions 
 were ifTuedfor that purpofe ; and it was intended to exa£t four {hillings 
 in the pound from the clergy, and three fhillings and four-pence from 
 the laity. So illegal and exorbitant an impofition, occafioned the greateft 
 clamour and difcontent in every corner of the kingdom ; and a dangerous 
 rebellion would have followed, if the king had not denied having 
 
 ■"* Black, vol. i. p. 284. *s 26 Hen. VIII. cap. 3. 
 
 »^ By 25 Hen. VIII. cap. 21. " Hume, vol. iv. p. 14. *« jtij^ p_ ^3. 
 
 any
 
 ,io HISTORY OF THE PUBLIC REVENUE 
 
 any knowledge of the impofition ; and publicly declared, that his ne- 
 ceffiues, however great, fliould never make him attempt to raife money 
 by any other means than by the voluntary c.onfent of his people, or the 
 fancflion of parliament "" ; a declaration, however, to which he did not 
 llridly adhere, during the middle and latter part of his reign. 
 
 Debafingthe There is no mode, by which a needy and tyrannical fovereign may 
 
 "'"• acquire inconfiderable fums of money, with greater detriment to his fub- 
 
 jeds, than by tampering with the coin. From the Conquell, to the reign 
 of Henry VIII., the old ftandard of finenefs had been generally pre- 
 ferved ; and, although fome bafe metal had been mixed in our coin, yet 
 the adulterations were gradual, and confequently lefs pernicious. But 
 Henry, befides enhancing the price of gold and filver to a confiderable 
 degree, difgraced himfelf fo far, as to coin bafe money, and to order it 
 to be current by proclamation ^°. 
 
 Loans. It was natural for a prince like Henry, reduced to confiderable diffi- 
 
 culties by his own extravagance, to imitate the example of fome of his 
 predeceflbrs, in extorting compulfive loans from his fubjeds. He began 
 with demanding partjcular fums from fome wealthy individuals ; but 
 
 Anno 1523. foon afterwards he impofed a general tax, under the pretended name of 
 a loan, amounting to five Ihillings in the pound on the clergy, and two 
 {hillings on the laity ^'. It is faid, that the plan was propofed by 
 Wolfey, who was then in the height of his power ; and whofe friends, 
 to prove their attachment to him, largely contributed. But they had 
 foon reafon to repent of their zeal ; for an act was pafl'ed, abolifhing all 
 the debts which the king had incurred fince his acceffion, in which this 
 loan was included. From various motives, this meafure met with a 
 very general concurrence. The friends of the court rejoiced, that the 
 king's debts were annihilated, and the friends of the people, that a 
 mode of fupply, fo dangerous to public liberty, fhould be difcredited. 
 Nor were either the court or the nation difpleafcd, that Wolfey 's 
 attached friends, who had enriched themfelves by their connexion with 
 that haughty minifter, fliould thus be impoverifhed. Notwithftanding 
 
 *» Hume, vol. iv. p. 61. Pari. Hift. vol. iii. p. 38. Godwin's Annals, p. 40. 
 3° Harris on Money and Coin, partii. p. 3. Stevens, p. 209. 
 '' Hume, vol. iv. p. 46. 
 
 this
 
 OF THE BRITISH EMPIRE. 
 
 Ill 
 
 this abolition, another loan was exadled ; and Henry had even begun to 
 repay fome part of the money that he had borrowed; but his exchequer 
 was not adequate to fo great an undertaking ; and he found it neceflary 
 to procure another adl, which not only freed him from his incumbrances, 
 but by which thofe who had been paid either in whole, or in part, were 
 obliged to refund any fum they had received ^% What rendered the loans 
 in the reign of this king particularly obnoxious, was, that the people 
 were compelled to reveal the extent of their fortune upon oath, and were 
 charged accordingly ". 
 
 Of all the plans which he purfued for raifmg money, that which pafled Benevolence, 
 under the name of a Benevolence, was unqueftionably the moft tyran- 
 nical. To extort money from his fubjeds, illegally, was not fufficient ; 
 but Henry had the infolence to compel them to give that as a free gift, 
 •which was adlually forced from them by compulfion. To the firft be- 
 nevolence that was exadled, he himfelf gave the name of the Amicable 
 Graimte " ; yet fuch as refufed to pay the fum that was expeded from 
 them, were threatened with puniflament. In the thirty- fifth year of his 
 reign, he extorted 70,000/. under the fame pretence ; and meeting with 
 much oppofition from the citizens of London, on whom fuch exadions 
 were particularly fevere, he took care to make an example of two of the 
 moft refractory aldermen ; the one, by fine and imprifonment ; and the 
 other, by compelling him to ferve in perfon againft the Scots, by whom 
 he was taken prifoner ". 
 
 But Henry's extravagance was fuch, that all ordinary expedients for Attack o« 
 raifing money, and every mode of extortion, that had ever been for- 
 merly pradifed in England, were inadequate to his expences ; and a 
 variety of circumftances concurred to make the wealth and property of 
 the church, a defirable objed of his rapacity. The rilk which it had 
 run in the reigns of Hlenry IV. and of Henry V. has already been 
 taken notice of j and the principles of reformation which Wickliffe 
 preached up at that time, had fince met with more encouragement, 
 and been carried to greater lengths under the banners of Luther and of 
 Calvin. Wolfey himfelf, though a cardinal of the church of Rome, 
 
 3^ 35 Henry VIII. cap. 12. 
 3* Stevens, p. 180; Noy, p. 
 
 49. 
 
 " Stevens, p. 181. 
 
 '5 Godwin's Annals, p. iii. 
 
 and
 
 112 HISTORY OF THE PUBLIC REVENUE 
 
 and a candidate for the papal throne, had fet the firft example of an 
 encroachment upon ecclefiaftical property, by procuring a bull to diflblve 
 forty of the lefler monafteries, in order to endow two colleges he pro- 
 pofed to ered at Oxford and Ipfwich '" ; and Cranmer, who fucceeded 
 Wolfey in the confidence of the king with regard to ecclefiaftical affairs, 
 detcfting the luxurious manner in which the monks lived ; and convinced, 
 that they were addi£led to many vices incompatible with the ftri£t and 
 auftere life they profefled, was eafily perfuaded, that their wealth could be 
 better employed than in miniftering to their voluptuoufnefs". 
 Means pur- The means purfued by Henry were highly politic. He firft procured, 
 Henryf ^oth from his church and parliament, a recognition of his right of fu- 
 
 premacy ; and then, as head of the church, he appointed Cromwell his 
 vicar-general, and directed him to employ commifTioners on whom he 
 could depend, for the purpofe of vifiting the different monafteries, and 
 of making the ftrideft inquiry into the lives, morals, and behaviour of 
 of thofe by whom they were inhabited. It is faid, that difcoveries were 
 made, fo unfavourable to the charader of thefe religious hypocrites, as 
 to render their fuppreffion popular with the people, as well as profitable 
 to the crown ^\ 
 Sopprefllon The firft attack upon the patrimony of the church, was by an aft of 
 of the lefler parliament pafTed anno 1536; by which, under the pretence, that no 
 reformation of the vices of the monks in the lefTer monafteries could 
 be effeded, but by their diflblution, all fuch inftitutions, poffeffed of re- 
 venues under 200/. a year, were given to the crown ^°. Three hundred 
 and feventy-fix monafteries were fupprefled by this a6l ; whofe landed 
 property produced above 32,000/. per annum^ and whofe perfonal 
 effeds yielded above 100,000/. though difpofed of greatly under their 
 value *°. 
 Suppreffion The Wealth which Henry had thus procured was however foon ex- 
 
 monaferiy/ haufted ; and his neceffiiies impelled him to carry ftill farther a plan at- 
 
 3"^ Godwin, p. 41. 
 
 3' Cranmer was convinced, that the reformation could not be carried on, unlefs the mo- 
 nafteries were fupprefled. Burn's Ecclef. Law, wa- Monafteries. 
 
 3' Hume, vol. iv. p. 150. =' 27 Henry VHI. cap. 28. 
 
 ♦0 Hume, vol. iv. p. 150. Stevens, p. 211. 
 
 tended
 
 OF THE BRITISH EMPIRE. iij 
 
 tended with fo much gain. Accorduigly, two years afterwards, in con- Anno 1533. 
 fequence of a fecond vilitation, the greater monafteries were fupprefled j 
 and fix hundred and five great abbies, together with ninety colleges, 
 and a hundred and ten hofpitals for the relief of the poor, were by one 
 a£t annihilated "'. The monks, dreading the king's refentment, had, in 
 general, previoufly delivered up their property into his hands ; and all 
 doubts were removed by this adt, in regard to the legality of fuch fur- 
 renders. 
 
 But Henry was not yet fatisfied with the pili'age of the church. Under ^^^" '^^"'^' 
 the pretence, therefore, of j-egulatlng the clergy, many of the bifhops were tions. 
 compelled to furrender the landed property of their fees into his hands "% •^""° '542' 
 No lefs than feventy manors were taken from the archbifliopric of York, 
 and other diocefes fuSered proportionably '*\. The monafteries in Ire- 
 land, and the knights of St. John of Jerufalem, were alfo fuppreffed ;. 
 and, to crown the whole, an adi was paffed, by which parliament granted ^""o 'S+s* 
 to the king the revenues of the two univerfities ;. and of all the chantries,. 
 free chapels, and hofpitals in the kingdom **. 
 
 It was imagined, that the great value of the religious houfes, which were Value, 
 thus fuppreffed, would have furnilTied the crowa with fuch an addition 
 to its income, as to render any farther application to parliament for new 
 grants unneceffary. In the reign of Henry IV. the income of the 
 church had been computed at 485,000 marks ; and it was fuppofed, 
 that its revenues muft have greatly increafed fo many years after. But 
 the clergy had been prepared for the blow. With a view of rendering, 
 themfelves popular, their eftates were let at very moderate rates ; and, 
 inftead of an addition of rent, they were accuftomed to exa£l fmall fines 
 when the leafes were renewed. Befides **, the commiffioners who were 
 appointed to vifit the monafteries, expedting either to procure a grant o£ • 
 fome of the lands they furveyed, or to purchafe them at low prices, 
 undervalued them as much as poffible ; and the income of the whole 
 was only given in at 152,517/. i8j. lod. per annum, grofs rent, and 
 "was ftated at no more than 131,607/. ds. \d. net produce, after all 
 dedudions *\ The real value of thefe poffeffions, however, was 
 
 *' 31 Hen. VIII. cap. 13^, *» 37 Hen. V!II. cap. 16. 
 
 ■♦' Stevens, p, 193. *•* 37 Hen. VIII. cap. 4. 
 
 *s Hume, vol. iv. p. 182. *" See a particular account of them, Stevens, p. 213. 
 
 Q^ inconT.
 
 ,14 HISTORY OF THE PUBLIC REVENUE 
 
 inconceivably great. It appears from an account drawn up afino 1717, 
 that the annual income of the houfes fupprefled by Henry, muft have 
 amounted to about -273,000/.; and at a moderate computation, would 
 now yield at leaft fix millions /^^r annum*\ The abbey of St. Albans, 
 which was valued only at 2500/. per onnnm^ poflcffcd eftates, which, a 
 century after the fupprefhon, brought in 200,000/. a year*'. 
 Henry's pro- Many fuegcftions had been thrown out by zealous and public-fpirited 
 
 I Li ii G n 
 
 men, to render the revenues of the church ufeful to the public. Among 
 other plans of a beneficial nature, it was propofcd to found feminaries 
 for the ftudy of law ; for the acquifition of ufeful languages ; and for 
 the education of thofe intended for foreign embaflies, or to fill the high 
 ofiices of the ftate. But Henry's prodigality rendered all fuch fchemes 
 abortive. Inftead of fixteen, as he had originally propofed, he was only 
 able to eredt fix new bifhoprics. The immenfe property he had acquired 
 was foon wafted ; in a fliort time, the crown became as neceflitous as 
 ever ; and, in confequence of its poverty, again dependent on parliament 
 for fupport. 
 Poor's rates. The fuppreflion of the monafteries, inftead of proving, as was ex- 
 peded at tbe time, a means of freeing the people from the weight of 
 taxes, was the fource of one of the heavieft burdens to which this 
 country is at prefent fubjefl:. The monafteries, previous to their dilTolu- 
 tion, had been the great afylum of the poor ; and it was much appre- 
 hended, that the latter would become a load upon the public, in confe- 
 quence of the fuppreffion of the former. Large quantities of the church 
 lands, therefore, had been fold at eafy rates, that the purchafers might be 
 enabled to keep up the hofpitality, and charitable donations, which had 
 been pradlifed by their predeceflbrs ; and a penalty of 6/. ijj-. j^J. per 
 month was impofed upon fnch as failed in the obligation *'. An attrmpt 
 •was made in the year 1536, to lay this burden upon the fecular clergy ; 
 the incumbent of every parifh being ordered to fet apart a confiderable 
 portion of his revenue for repairing the church, and for fupporting the 
 poor ". It is not known how long this regulation continued in force ; 
 
 *^ Summary of all the religious houfes in England and Wales, at the time of their difib- 
 lution, p. 63. ■" Stevens, p. 188. 216. 
 
 ♦9 See 27 Henry VIII. cap. 28. § 9, 10. Repealed by 21 Jac. c. 28. § II, 
 5" Hume, vol. iv. p. 170. 
 
 I but
 
 OF THE BRITISH EMPIRE. ,i^. 
 
 but It is certain, that after many other ineftedtual endeavours, It was at 
 laft thought neceflary to compel the pari(h where the poor were born, 
 or where they acquired a fettlement, to provide for their maintenance : a 
 grievous burden, which, it is fuppofed, amounts at prefent to at lead 
 three niillioas per annum. 
 
 In the reign of Henry, a general furvey was made of the whole king- Survey of the 
 dom ; of the number of the inhabitants, their age, profeflions, wealth, 
 iacome, and every other important particular that a ftatefman could wifh 
 to be acquainted with. The furvey is unfortunately loft; and the only 
 information which it contained, at prefent known, is, that the income of 
 the whole kingdom was eftimated at four millions per annum ^\ It is 
 remarked, therefore, by Hume, that the landed property of the different 
 monafteries, that were fupprefled, was only equal to about a twentieth, 
 part of that fum ^\ But it has been already obferved, that the real value- 
 of thefe lands was greatly fuperior. 
 
 EDWARD VI.. 
 
 This young prince fucceeded to the crown at the age of about nine- 
 years. As his reign lafted during the fpace only of fix years and a half,, 
 the government muft have been in a great meafure conduced by the 
 advice of his minifters. Yet, unlefs the accounts given us by hiftorians 
 are greatly exaggerated, he himfelf enjoyed no inconfiderable fharc in 
 the adminiftration. It is at leaft certain, that he was educated in habits 
 of induftry, and of attention to bufmefs, which, had his life been pro- 
 longed, would probably have made him one of the beft and greateft 
 monarchs that ever fat upon the throne of England. 
 
 During the greater part of his reign, Seymour duke of Somerfet, Grants. 
 Edward's maternal uncle, governed the kingdom under the name of 
 ProteQor. Notwithftanding the endeavours of this minifter to acquire 
 popularity, he found It was ImpoiTible to carry on the public bufmefs 
 without fupplies from parliament ; particularly, after he had engaged 
 in wars with France and Scotland, which the revenues of the crown,, 
 impaired by Henry's prodigality, were by no means able to fupport.. 
 
 5' Hume, vol. iv. p. 47. Pari. Ilift. vol. iii. p. 26. '* Vol. iv. p. 182. 
 
 0.2 Lv
 
 ii6 HISTORY OF THE PUBLIC REVENUE 
 
 In addition, therefore, to tunnage and poundage, fome tenths, fifteenths, 
 and fubfidies, were applied for, and cheerfully granted. 
 
 Tax on The reign of Edward is remarkable for an attempt to lay a poll-tax 
 
 '"^* upon fheep" : every ewe, kept in a feparate pafture, was charged three- 
 
 pence; every wether, two-pence; and all flieep kept on commons, three 
 halfpence. But the tax was found fo difficult to colleft, or fo oppref- 
 five, that it was repealed in the next year '*. 
 
 Tax on England began about this time to make a diftinguifhed figure, as an 
 
 j1q(I^_ induftrious and commercial nation ; and the manufacture of woollens, in 
 
 particular, was raifed to fuch a height, that it was fuppofed able to bear 
 an impofition. A tax of eight-pence in the pound, therefore, was laid 
 upon all cloth made for fale in England. But this, and the duty upon 
 fheep joined together, were found fo oppreffive, upon an article which 
 had not arrived at its maturity, that they were both repealed after a fliort 
 trial, though they had been granted for three years ". 
 
 French an- The kings of England, fince the reign of Edward IV. had conflantly 
 
 """y- endeavoured to procure fome pecuniary compenfation from the crown of 
 
 France, for the right they claimed to the fovereignty of that kingdom. 
 Mention lias been made already, of the treaties between the two crowns in 
 regard to this demand. In the reign of Edward, the arrears of the annuity 
 amounted to two millions of crowns. But the king of France (Henry II.) 
 abfolutely refufed to pay any part of the fum, declaring, that he would 
 not fuffer himfelf, or his kingdom, to be tributary to any one ; and as a 
 treaty was concluded, in which no notice was taken of this claim, it has 
 ever fince been confidered as totally abandoned '\ 
 
 Sale of Bou- The town of Boulogne was the only acquifition which Henry VIII. 
 
 °^"^' had made, in a war which is faid to have cofl the fum of 1,340,000/. 
 
 fterling. It was a pofleffion which England could not hold without con- 
 fiderable expence, and indeed greater charges than its revenues could at 
 that time afford. As the French were defirous of acquiring it, the parties 
 found little difficulty in coming to an agreement. Boulogne, therefore, 
 
 Anno 1550. ^^'^ its territories, were reftored, in confideration of 400,000 crowns, or 
 ^33^333^- 6.r. 8^. fterling". 
 
 » 
 
 " 2 & 3 Edw. VI. cap. 36. '♦ 3 & 4 Edw. VI. cap. 23. 
 
 '5 Stevens, p. 225. J* Hume, Vol. iv. p. 342. Mort. vol. ii. p. 306. 
 
 " Carte, vol. iii. p. 246. 
 
 The
 
 OF THE BRITISH EMPIRE. 117 
 
 • The difficulties to which the protedor was reduced, made him have Debafmgthe 
 recourfe to the dangerous expedient of debafing the coin. Nay, it is 
 faid, that 20,000 pounds weight of bullion was ordered to be coined, fo 
 as to yield the king a profit of 140,000/." The ufual confequences 
 enfued from fo pernicious an attempt. " The good coin was hoarded 
 or exported, bafe metal was coined at home, or imported from abroad 
 in great abundance ; the common people, who received their wages 
 in it, could not purchafe commodities at the ufual rates ; an univerfal 
 diffidence and ftagnation of commerce took place, and loud complaints 
 were heard in every part of the kingdom '^" It is remarked by the 
 fame hiftorian, that in confequence of the importation of fome bullion 
 from Sweden, good fpecie was again coined, and fome of the bafe metal, 
 formerly iffiied, was recalled. The Swedes were tempted to fend what 
 bullion they could fpare into England, in confequence of a treaty of 
 commerce between the two kingdoms ; by which they were permitted 
 to export Englifh commodities duty free, provided the price was paid 
 in bullion ". 
 
 In Edward's reign, an alteration took place with regard to the cuf- Cuiioms. 
 toms, which was attended with the moft important confequences. A 
 body of foreign merchants, called the Corporation of the Steel-yard, had 
 been eredted in the reign of Hi;nry III. and had obtained, by patents 
 from the crown, very valuable privileges. In particular, they were 
 exempted from feveral duties paid by other aliens, and confequently 
 enjoyed all the advantages of the natives in England, whilft, at the fame 
 time, by means of their connexions on the continent, they had a better 
 opportunity of difpofing of their commodities at foreign markets. Ed- 
 ward's minifters were fortunately apprifed of all thefe circumftances ; 
 and being convinced how neceffiiry it was to encourage the commerce and 
 navigation of England, they determined to annul the privileges of this 
 foreign company, and perfeveftd in their refolution, notwithftanding 
 the oppofition and remonftrances of the principal trading cities in 
 Europe. Aliens duty being thus impofed upon all foreigners without 
 diftindion, the natives of the country were led to engage in commer- 
 
 " Mort. vol. ii. p. 456. 
 
 5' Hume, vol. iv. p. 328. Harris on Coins, part ii. p. 3. 
 
 " Hume, vol. iv. p. 349; 
 
 cial
 
 ii8 HISTORY OF THE PUBLIC REVENUE 
 
 cial undertakings with greater eagernefs than formerly, with more profit 
 to themfelves, and more advantage to their country '". 
 
 Church In the latter end of the reign of Henry VIII. an aft had pafled for the 
 
 fuppreffion of all the chantries, free ehapels, and colleges in the king- 
 dom ; and commiffioners had been adtually appointed to take pofTeffion 
 of the' revenues. But Henry died before the commlffion was carried 
 into execution, and it w^as thought neceflary to pafs another a<3:, by 
 which no lefs than 2374 religious eftablifhments were at once abdiflied, 
 and given to the crown ". It is declared in the aft, that thefe founda- 
 tions were" thus annexed for purpofes of the greatefl national utility,. 
 They were appropriated for erefting fchools ; for augmenting the feitii- 
 j^arics of learning in the tVv'O univerfities ; for the better provifion of the 
 poor, and for'difcharging the king's debts. But as minifters of ftate 
 were then endowed with deaneries, prebends, and other fpiritual pre^- 
 ferments, it was eafy to perceive into whofe hands they would fall. Nor 
 v/asthis the only ecclefiaftieal plunder in the reign of Edward. For 
 the bifhop of Winchefler and others were deprived of many of their 
 manors, and obliged to change the property they had, for lands and 
 rights of inferior value. The churches were alfo fearched, and the plate, 
 jewels, and every other article of any value belonging to them (one 
 chalice, and one covering for the cominunion table alone excepted), 
 were appropriated to the ufe of the crown **. 
 
 Poor's rates. ^\^q diftreffes of the poor were in the mean while daily increafing ; 
 and it became more necefTary than ever for the legiflature to interfere 
 in their behalf Accordingly, a^mo 1552, an aft was paffed, empower- 
 ing the churchwardens in every parifh to colleft money for their relief; 
 and if any refufed to give in charity, or diflliaded others from .contri- 
 buting, the bifhop of the diocefe was entrufted with difcretionary 
 powers to proceed againft them '^ 
 
 Fines. The loofe government which always takes place during a minority, 
 
 had flattered many of the fervants of the crown with impunity, and 
 
 . encouraged them to commit crimes of a very dangerous nature. It 
 
 was determined to punifli them by heavy pecuniary tines, not only as 
 
 a chaftifement for their offences, but that feme advantage might be 
 
 ^^ Hume, vol. iv. p. 348. *" 1 Edward VI. cap. 14. 
 
 '* Stevens, p. 220. 222. *^ 5 & 6 Edw. VI. cap. 2. Pari. Kifi:. vol. iii. p. 260. 
 
 reaped
 
 loans. 
 
 OF THE BRITISH EMPIRE. ,,5 
 
 I'eaped by the exchequer. Lord Paget, chancellor of the dutchy of Lan- 
 cafter, confcious of his guilt, furrendered his office, and paid down 
 4000/. ; and Beaumont, Mafter of the Rolls, and Whaliey, Receiver of 
 Yorkfhire, compounded for their offences by fimilar means**. 
 
 The debts contracted by Edward had been made ufe of as a ftrong ar- Debts, 
 gument in parliament, to bellow on him the remaining property of the 
 regular clergy ; and fome of the lands, thus obtained, were adually fold, 
 and the purchafe-money applied to free the crown from thofe difagreeable 
 incumbrances. But fuch was the rapacity of Edward's minifters, that 
 they not only appropriated to their own private ufe the greater part of 
 the property taken from the church, but alfo defrauded the crown 
 of its domains,and left the king involved in a debt, amounting to above 
 240,000/. 
 
 In the reign of Edward, it became an ufual pradlice to negotiate Foreign 
 loans on the continent ; for which, it is faid, he paid an interefl: of 14 
 per cent. Antwerp, and other cities in Flanders, were then fuppofed 
 to be the only places where any confiderable fums of money could be 
 borrowed. 
 
 MARY. 
 
 The reign of Mary, who fucceeded her brother Edward, fufflciently 
 accounts for the deteftation in which the Engliih nation has ever fince 
 held every attempt to re-eflablifh the Roman Catholic religion in their 
 country, and their dread of having another popifh prince feated 
 upon the throne. For, during the whole period, we find nothing but 
 difgrace abroad, and mifery at home ; the moft folemn engagements 
 abandoned ; and the interefts of her kingdom facrificed, to gratify her 
 pernicious attachment to the religion of Rome, and to the politics of 
 the Spaniards. Fortunately, her reign fcarcely exceeded five years ; 
 and it may be confidered merely as a foil to difplay the happy and 
 fplendid government of Elizabeth, in more lively and more durable 
 colours. 
 
 •* Mort. vol. ii. p. 312. 456. 
 
 IVIarv
 
 I20 HISTORY OF THE PUBLIC REVENUE 
 
 Grants. Mary had the duties of tunnage and poundage granted to her for 
 
 life, by an a£t which contains the following fingular preamble : " In 
 *' their moft humble wife ihewn, unto your mofl: excellent majcflie, 
 " your poore and obedient fuhjccls and commons "^ &c." The whole 
 is drawn up in a ftyle which tends to juftity the right of the crown 
 to tunnage and poundage, without any landion from parliament, and 
 indeed, if poflible, to render that alfembly contemptible. As to otlier 
 grants, Ihe is faid to have received in all but five iifteenths, and three 
 fubfidies "^ 
 
 Demefnes. The landed property of the crown was perpetually fuffering fome 
 
 diminution; and an a*:!", particularly fatal to it, was palled muio 15SS, 
 by which all the grants or fales of the crown lands, which either had 
 been made by the queen, or Ihould be made during the fpace of i^stw 
 years pofterior, were at once confirmed : a meaiure which could not 
 fail to produce, and indeed was intended to countenance, a very con- 
 fiderable alienation. 
 
 Church A bigoted queen, like Mary, could not bear to reap any pecuniary 
 
 advantage from that change in religion which had taken place during, 
 the reign of her father, and of her brother. A bill was therefore pafled,. 
 not only reftoring to the church the firft fruits and tenths, and all the 
 impropriations which remained in the hands of the crown, but alio all 
 the church lands that ftill continued in its pofleflion ''. Nay, fome new 
 convents and monafteries were founded, notwithftanding the low ftate 
 of the exchequer. The bifhopric of Durham alfo, which had been fup- 
 prefled by Edward, was reftored to its former condition, and the refti- 
 tution confirmed by parHament. She knew well how impopular fuch 
 meafures were ; but fhe declared to her council, " Albeit you may 
 " objedl to me again, that confidering the ftate of my kingdom, th& 
 " dignity thereof, and my crown imperial, cannot be honourably 
 " maintained and furniflied without the poffefTions aforefaid ; yet, not- 
 " withftanding, I fet more by the falvation of my foul, than by tea 
 *' kingdoms, and therefore the faid poffefTions I utterly refufe here to. 
 " hold after that fort and title "." 
 
 *s I Mary, cap. 18; ** Stevens, p. 234, 
 
 *' 2& jPhil. &Mar. cap. 4: '^ Stevens, p. 244. 
 
 The
 
 OF THE BRITISH EMPIRE. 121 
 
 The principles on which Mary adled in ecclefiaftical matters were fo Extortions, 
 generally obnoxious to her fubje(3:s, that when an application was made 
 to parliament for a fubfidy, it was rejetted ; and many members de- 
 clared, that it was in vain to beftow riches upon a monarch, whofe reve- 
 nues were thus wafted '^ She was therefore obliged to have recourfe to 
 tyrannical extortions to repleiiifli her exchequer. Anno 1555, by means 
 of embargoes, compulfive loans, and exactions of a fimilar nature, fhe 
 raifed about 240,000 /. ; and two years afterwards, contrived to fit out, 
 by the fame methods, an armament for the affiftance of her hufband 
 Philip II. king of Spain ; but finding it impolTible to fupply it with 
 provifions, fhe feized, for that purpofe, all the grain that the counties of 
 Suffolk and Norfolk could furnifh, without making the owners any re- 
 compenfe. In fhort, fuch was her infatuation for the perfon and prin- 
 ciples of Philip, notwithftanding his indifference and contempt of her, 
 that in order to contribute to his aggrandizement, fhe made no fcruple 
 to tarnifli her own charader by the moft difgraceful rapacity, and fa- 
 crifice the effential interefts of her crown and kingdom v;ithout hefitation 
 or remorfe. 
 
 Mary imitated her brother's example, in endeavouring to borrow Foreign 
 money on the continent. But her credit was fo very low, that though 
 flie offered i/^ per cent, intereft to the town of Antwerp, for the loan 
 of 30,000 /. ftie could not obtain it, until (he had compelled the city of 
 London to join in the fecurity '". 
 
 We are told by Hume, that the revenues of England, in the reign of Amount of 
 Mary, exceeded 300,000 /. " It is queftionable, whether the permanent 
 income of the crown amounted to fo much, particularly after the church- 
 lands, the firft-fruits, and tenths, i^c. were reftored : even in the twelfth 
 year of the reign of Elizabeth, the profit of the kingdom, excluHveof the 
 ■wards and the dutchy of Lancafter, amounted only to 1 88,197 /. per ann. 
 The authority quoted by Hume alfo, is that of a foreign author ", and 
 confequently the lefs to be relied on. 
 
 There is only one clrcumftance, during Mary's reign, that can give RemifHon of 
 us a favourable idea of her political charadler j and that is, the volun- ^ " •** 
 
 "J Hume, vol. iv. p. 422. " Carte, vol. iii. p. 320. 
 
 "' Hume, vol. iv. p. 433. ;' Rofli, Succefli d'lnghilterra. 
 
 R tarv
 
 i«2 HISTORY OF THE PUBLIC REVENUE 
 
 trary reraifllon of a fubfidy, which had been granted to her brother 
 Edward, but which had not yet been paid. This was artfu'ly done, 
 with a view of ingratiating herfelf with the public, and of beginning' the 
 new government with a popular and acceptable a.0:, to which the nation 
 had not been accuftomed fince the reign of Richard II. The remiflion 
 was originally contained in letters patent " ; which, for the fake of greater 
 fecurity, were afterwards conlirmed by parliament. It is to be remark- 
 ed, at' the fame time, that the letters patent and the ad, only remit the 
 fubfidy of four fliillings in the pound on lands, and tvi'o fliillings and 
 eight pence on goods and chattels ; but exprefsly referve the grant of 
 two tenths and two fifteenths '*. And fo Utile able was Mary to afiord 
 this affedted piece of generofity, that Hie was obliged to borrow 20,060 A 
 at the fame inftant from the city of London, for the expences of her 
 coronation. 
 Advantages The reign of Mary furnilhes us with a fttbng proof of the beneficial 
 with*Sco"-°" confequences refulting to England from the union xvith Scotland'.' 'For 
 land. jjj jjjg adls by which fubfidies were granted, the whble counties • of 
 
 Northumberland, Cumberland, and Weftmoreland, and the towns of 
 Berwick and Newcaftle, and the Bifhopric of Durham, were entirely 
 exempted, on account of their vicinity to the Scots, by Avhofe incurfions, 
 notwithftanding the fuperior ftrength and refources of England, they 
 were pei*petually ravaged". It is well known, that what was then 
 called a fubfidy, was of the fame nature with the modern land-tax; 
 had not the union therefore taken place, the land-tax at prefent paid 
 by thefe towns and counties (which, at the rate of four (hillings in the 
 pound, amounts to 31,900/. j could not have been demanded upon any 
 principles of juftice or equity. 
 
 ELIZABETH. 
 
 We are now to contemplate the reign of a fovereign, of whom 
 England has reafon to be proud. For though it is certain, that neither 
 
 '3 Pari. Hift. vol. iii. p. 288. '♦ See i Mar. feiT. 2. cap. 17. 
 
 J " Stevens, p. 241, 242. 
 
 her
 
 OF THE BRITISH EMPIRE. if) 
 
 her private condufl, nor all the principles of her public admlnlftration, 
 were totally blamelefs and irreproachable ; though her attachment to 
 Leicefter, and to Eflex, betrayed a confiderable portion of female weak- 
 nefs ; though the imprifonment and death of the unfortunate Mary, 
 will for ever prove an indelible ftain to her memory ; and though the 
 manner in which fhe treated her parliaments, and fupported the pre- 
 tended prerogatives of the crown, fo contrary to the principles, and fo 
 oppolite to the ideas and pra6tices of thefe times, muft appear to us harfh 
 and illegal ; yet fuch was the general happinefs of her fubjetSls at home, 
 and fuch the reputation flie eftablifhed abroad with foreign powers, 
 that her reign may be accounted the moft fplendid and fortunate of any 
 female fovereign perhaps recorded in hiflory: nor can the annals of 
 England produce a period, on the whole, more to be preferred. It is 
 therefore propofed to ftate, with fome degree of minutenefs, firft, the 
 general nature of the expences in which fhe was involved j and, fecondly, 
 from what fources they were defrayed. 
 
 Expences. 
 
 Elizabeth was put to heavier charges In providing for the national i. National 
 protedlion and defence than any of her predeceffors ; it was juftly 
 remarked by Sir Thomas Egerton, keeper of the great feal, in a fpeech 
 to parliament, " that the wars formerly waged in Europe, had com- 
 " monly been conduced by the parties without any farther view than 
 " to gain a few towns, or at moft a province, from each other ; but 
 " that the objed: of Spain, in the hoftllities M-^hich it carried on at that 
 ** time, was no other than utterly to bereave England of her religion, 
 " her liberty, and her independence *V' It was necefTarv, therefore, to 
 fpare no expence, when fuch objedls were at ftake. Nor did the queen 
 content herfelf with merely defending her own territories ; fhe made 
 her enemies feel the miferies of war at their own homes. Her fnc- 
 cefsful enterprifes agalnft the Spaniards are well known ; and it is faid 
 that flie expended no lefs a fum than 1,200,000, from the year 1589, 
 
 " Hum?, vol. V. p. 385. 
 
 R 2 when
 
 I24> 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 when the war with Spain began, to the year 1593, when fhe received 
 a confiderable fupply from parliament for the fame popular purpofe ". 
 
 2. Ireland. Ireland was a pcffefTion which had not as yet proved, in any refpeiHr, 
 
 ufeful to this country. Its revenue was reduced to the trifling fum of 
 Coool. per annum^ and it required 20,000/. a year additional, out of the 
 exchequer of England, to defray the charges of the ordinary peace efta- 
 blithment ". This load was far from being relifhed by Elizabeth and 
 her council ; and their frugality proved the fource of much expence to 
 the one kingdom, and of infinite mifery to the other. For fuch was 
 the weak ftate of the Irifh government, that it emboldened Tyrone to 
 revolt, whofe rebellion continued for the fpace of eight years, and is 
 faid to have cofl: at the rate of 400,000 /. a year, before it was totally 
 fupprefled. In the. year 1599, 600,000/. were fpent there in the fpace 
 of fix months ; and Sir Robert Cecil affirmed, that Ireland had coft, in 
 ten years time, the fum of 3,400,000/. " 
 
 3. Scotland. Elizabeth's critical fituation at her acceffion ro the crown, rendered 
 
 it neceflary for her to keep up a party in Scotland, attached to her 
 intereft, and ready to fupport her views > and however unwilling fhe 
 was to engage in unneceflary expences, yet fhe found it requifite, until 
 her rival, Mary, had fallen into her power, to furnifh her Scottifh 
 friends with pecuniary, and, occafionally, with military affiftance. In- 
 deed fhe artfully contrived to render the politics of Scotland fubfervient 
 to her own, during the greater part of her reign. 
 
 4. Holland. It was during this aera, that Holland firft attempted to render itfelf 
 
 independent. As EHzabeth had every reafon to be jealous of the 
 power of Philip ; and as her fubje£ts had long been conneded with 
 the provinces of Flanders in traffic and correi'pondencey they naturally 
 trufted to her affiftance and protedion ; and, at one period, aftually 
 offered her the entire fovereignty of the country. This propofal fhe 
 had the magnanimity, and perhaps the prudence, to refufe. But fhe 
 fpared nothing to enable them to throw off the Spanifh yoke j der 
 manding, inftead of the fovereignty of the new States, only focurity 
 for the reimburfement of her expences : in confequence of which, three 
 
 " See an account of thefe extraordinary charges. Pari. Hift. vol. iv. p. 364. 
 " Hume, vol. v. p. 398. ^s* Hume, vol. iv. p. 474. 
 
 of
 
 OF THE BRITISH EMPIRE. 125 
 
 of the moft valuable fortrefles they were poflefled of, were delivered up 
 to her, and garrifoned by the Engllfh. 
 
 The powerful monarchy of France was, for fome time, no fmall in- 5. France, 
 cumbrance on the finances of Elizabeth. The arts of the church of 
 Rome, and the wealth of the court of Spain, had roufed fuch a 
 Ipirit of oppofition to Henry IV. the legal fovereign of the coun- 
 try, that he could not poflibly have withftood the united efforts of 
 his enemies, fupported by a confiderable party of his own fubjedls, 
 if it had not been for Elizabeth's afiiftance, who advanced him to 
 the amount of 450,000/. in his greateft neceflities "" : a fum which 
 he could never be prevailed upon to repay, notwithftanding the 
 ftrongeft reprefentations of her pecuniary diflreffes from the war 
 in Ireland, and although he had begun to amafs a very confider- 
 able treafure ". 
 
 Her predeceflors of the houfe of Tudor had frequently involved 6. Crown 
 themfelves in confiderable debts. Her brother Edward owed the fum 
 of 240,000/. and fome of her father's and filler's debts were yet un- 
 paid. Elizabeth thought it incumbent upon her to difcharge thefe 
 claims, and aclually paid the debts of the crown, with their full in- 
 tereft, to the amount, it is faid, of four millions. This, Hume con- 
 fiders to be incredible ". But as this fum probably includes both prin- 
 cipal and intereft, and alfo the money fhe raifed by loans, which (with 
 only one exception) fhe punctually repaid, there is the lefs reafon to 
 fufped any great exaggeration. 
 
 Elizabeth had the credit and expence of brineina; back the coin of the 7- Recover- 
 kingdom to a proper llandard. Its debafement in the reigns of Henry VIII. 
 and of her brother Edward was very great. Though fome fteps 
 had been taken to remedy this national difgrace, yet the progrefs was 
 inconfiderable : and before that monfter, as fhe called it, could be con- 
 
 '° Charles duke of Burgundy was wont to fay, " That the neighbouring nations 
 '• would be in a happy cafe, when France fhould be fubjeiS, not to one fceptre, but fo 
 " twenty petty icings." But Elizabeth thought otherwife, and therefore fupported Henry. 
 Camden's HilK of Elizabeth, edit. 1675, p. 444. Had (he lived till thefe times, fhe 
 would probably have altered her opinion. 
 
 *' Hume, vol. v. p. 473. ^' Ibid. Camden, p. 191. obferves how much the 
 
 d'ebt was incrcafed by neglefting to pay the intereft, then at 14 per cent. 
 
 3 quered,
 
 \h'k^ 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 quered, the queen was obliged to borrow 200,000/. from the city of 
 Antwerp, to enable her to complete her intentions ". But fhe did not 
 carry her ideas with regard to the purity of the coin, to the extent 
 that might be wifl-ied ; for, unfortunately, Ihe was afterwards pre- 
 vailed on, in tlie forty-third year of her reign, to divide the pound of 
 filver into fixty-two fl-iillings inftead of fixty, the former ftandard '* ; 
 nay, fhe was perfuaded to give her fandlion to the coinage of bafc 
 money for the ufe of Ireland. The pretence was, however, fpecious. 
 It was faid, that the great fums of money remitted to Ireland, found 
 their way, through the medium of circulation, into the hands of the 
 natives, who were thus enabled to purchafe thofe fupplies of arms and 
 of ammunition, without which they could not perfevcre in their re- 
 bellion. And it was aflerted, that an inferior fpecies of coin could 
 never be employed to procure ufeful commodities at foreign markets. 
 Her wifer counfellors, in vain, endeavoured to prove the weaknefs and 
 fallacy of fuch reafoning"'. It is faid that Burleigh, whilft he lived, 
 would never give way to any projeiSl of that nature ; nor was it till 
 after his death, that it was carried into execution '*. Since the reign 
 of Elizabeth, no fovereign of England has attempted to debafe the coin 
 current in this country, 
 f?. Bountiej The laft confiderablc expence on the exchequer of Elizabeth, was her 
 
 bounty to her favourites. Her gifts to Dudley, earl of Leicefter, were very 
 great. At one time ihe gave to the earl of Effex a prefent of 30,000 /. ; 
 and is fuppofed to have beftowed pecuniary favours upon that gallant 
 nobleman, to the value of 300,000/. in which a lucrative monopoly 
 he enjoyed, was probably included. To the great minifters who were 
 employed in the public fervice, flie was not over-bountiful : fome of 
 them died in poverty ; and Burleigh's fortune was more owing to his 
 own frugality, than to her friendfliip. But to thofe courtiers who ingra- 
 tiated themfelves with her, by the charms of their perfons, or the infmua- 
 tion or flattery of their addrefs, no fovereign was more liberal. The queen, 
 it was faid,/rtj'x bountifully^ though fhe rewards fparingly^\ 
 
 «3 Hume, vol. V. p. 476. '* FoJkes onCoins, p. 58. Harris on Coins, part ii, p. 9. 
 
 "5 Camden, p. 637. " Noy, p. 105. 
 
 '• Naunton, in his Fragmenia Regalia, gives a brief account of queen Elizabeth's favotfr- 
 ites, amounting to twenty-two in number. Many of them principally depended upon the 
 queen's bounty for their fupport. But among them Burleigh and other minifters are in- 
 cluded. 
 
 Supporting
 
 OF THE BRITISH EMPIRE. 127 
 
 Supporting the I'plendour of the court, and defraying the charges to 
 ■which Elizabeth*s vanity fubje<3:ed her (who left, it is faiJ, above three 
 thoufand iuits, of various fhapes and colours, in her wardrobe when flie 
 died) were the only other material expences during her reign. Let us 
 next fee from what rcfources her income was derived. 
 
 Refourccs. 
 
 It is impofTible, at prefent, to afcertain the income which the royal do- Demefr.es. 
 mains produced in the time of Elizabeth. To James I. they only yielded 
 the lum of 32,000'/. but they were fuppofed worth gG^oco I. per annum; 
 when the leafes which then exifted would expire '\ and their value 
 would have been ftill more confiderable, had it not been for the queen's 
 fyftem of alienation, who preferred making an almoft continual dila- 
 pidation of the royal domains rather than to demand the moft moderate 
 Supplies from her comfnons ". I« the forty-fecond year of her reign, 
 in order to procure money for carrying on the war in Ireland, com- 
 miflioners were appointed, with full powers to confirm the poiTeirion 
 of the crown lands, to fuch as held them by titles liable to be contro- 
 verted. And in the enfuing year an a£l was pafTed, ratifying all the 
 grants and alienations made by Elizabeth fmce the 25th year of her 
 reign, whether for value received, or in confideration of a difcharge 
 being granted of any of the crown debts °°. It is laid, however, that 
 her grants in general contained this provifo, that in default of iffiie male, 
 they were to revert to the crown. A claufe, of which the public, at this 
 time, might probably avail itfelf. 
 
 Elizabeth's attachment to what fhe fuppofed to be the inherent pre- Feudal pre- 
 
 ... , , rogatives. 
 
 -rogatives of the crown, is too well known to require bemg dwelt on. 
 It is faid that the income arifing from wardfhip (which, with other 
 claims of a fimilar nature, were very rigoroufly enforced), joined to the 
 revenue of the dutchy of Lancafter, amounted to the fum of 120,000/. 
 yearly". Of all the feudal prerogatives, that of purveyance was 
 the moft obnoxious. The queen at firft had vidualled her navy under 
 pretence of that right, but with a view of endearing herfelf to her 
 
 " Noy's Rights of the Crown, p. 51, 52. *' Hume, vol. v. p. 473. 
 
 »° 43 Eliz. cap. I. »' Hume, vol. v. p. 474. Note Y. 
 
 ,,,, I fubjeits.
 
 i<28 HISTORY OF THE PUBLIC REVENUE 
 
 fubjefts. She had afterwards revoked all her warrants, and had given 
 diredlions to pay for any provifions that had been furnifhed for that 
 purpofe. In the fixth and fifteenth years of her reign, however, fhe 
 caufed confiderable quantities of beer to be purveyed, and fold it on 
 the continent for her own behoof. Although it is impoffible to 
 dcfcribe the vexation and diftrefs which the exercife of this prerogative 
 occafioned, yet the haughty Elizabeth would neither fufFer its abufes to 
 be redreffed by parliament, or rectify them herfelf. 
 
 Cuftoras. The cuftoms had gradually become a Handing part of the revenue of 
 
 the crown. In the year 1590, they were raifed from 24,000 to 
 50,000/. a year : and Sir Thomas Smith, by whom they had been farmed, 
 was obliged to refund fome part of the profits he had received*'. Tunnage 
 and poundage were granted to Elizabeth for life : but it is remarked by 
 Hume, that thefe duties were levied previous to the vote ©f parliament ; 
 and indeed it is afl'erted, in dlfpatches from her council to her ambaffador 
 in France, " that it was as lawful for the queen of England, for her eafe 
 " and relief, to take impofitions of her fubje<5ls, of fuch wares as lyked 
 *' hir, as it was for other princes to fet impofitions of theyrs '*." Thus 
 it appears that the fandion of parliament was accounted, by the 
 queen's minifters, a mere matter of form ; at leaft they were politic 
 enough to hold that doctrine to foreign courts. 
 
 Firft-frults One of the firft; fteps taken by parliament, after the acceflion of 
 
 Elizabeth, was to reftore to the crown the firft-fruits and tenths, which 
 Mary had given up ; and the members of both houfes (fome bifhops 
 only excepted) fhewed, upon that occafion, fo ftrong a difpofition to 
 fupport the principles of the reformation, that it greatly encouraged the 
 queen and her council, to take further meafures for the abolition of 
 popery. 
 
 ■' 9» Noy's Rights of the Crown, p. 66. 
 
 «3 Authors greatly differ with regard to the fum which Smith originally paid. Philips 
 (Reftauranda, p. 35.) fays, that they were raifed from thirteen thoufand, {\:(i to forty- 
 two, and afterwards to fifty thoufand pounds. Camden, p. 440. inftead of thirteen, 
 makes it fourteen thoufand, Naunton, in his P'ragmenta Regalia, p. 15. fays, that in 
 the fpace of ten years the rent was doubled. But it appears from Brown's tranflation of 
 Camden (Appendix, note to p. 32. 1. 16.), that there are fome miftakes in the other 
 tranflation, and I fuppofe that fourteen has been put down inftead of twenty-four thou- 
 fand pounds. 
 
 s* Forbes's Full View of the Tranfa£lions of Elizabeth, vol. i. p. 133. 
 
 The 
 
 and tenths.
 
 OF THE BRITISH EMPIRE. i2p 
 
 The authority of parliament was alfo procured, to re-annex to the Cfiurcli 
 crown, the lands which Mary had beftowed on religious houfes ; and the 
 Queen was empowered, when any bifliopric became vacant, to feize all 
 the temporalities, and to bellow on the new bifhop an equivalent in 
 church- lands, and impropriations belonging to the crown "'. In confe- 
 quencc of this regulation, the church was often injured by unfair and 
 difproportionable exchanges. Nor was this all : for after the example 
 of fome of her mod detefted and tyrannical predecefTors, fhe retained 
 the temporalities of the bifhopric of Ely in her own hands for the fpace 
 of nineteen years ; and it was not unufual for her, when (he promoted 
 a bifhop, to pillage the fee of fome of its moft valuable manors, or to 
 countenance injurious bargains between the new incumbent and fome 
 favourite courtier °*. 
 
 It is difficult to know, with any degree of precifion, what was the Amount of 
 amount of the permanent revenue of the crown, at this time. We are Lrmanfnt* 
 told, from refpedable authority, that the profit of the kingdom, in the '"'^°'"«- 
 twelfth year of the reign of Elizabeth, excluhve of the wards and 
 the dutchy of Lancafter (which yielded about 120,000/.), amounted to 
 i88,igy I. per amwm'\ making in all the fum of 308,197/. ^«//o 1590, 
 a confiderable addition was made to the cuftoms. The whole of her an- 
 nual permanent income, however, could hardly amount to 350,000/. 
 
 Though the expences of Elizabeth's government were very confi- Granti. 
 derable ; and though her permanent revenue was far from being great, 
 yet the earlier part of her reign is not diftinguifhed by numerous 
 
 " Hume, vol. v. p. 10. Stevens, p. 247. 
 
 s° The poverty of the crown is a circumftance not a little aftonifhing, when one con- 
 fiders the immenfe property of which the church was deprived, during the government of 
 the houfe of Tudor. But the matter is fully explained in a paper prefented to Elizabeth, 
 containing an account of the frauds and abufes that had been committed by the officers, to 
 whofe charge this new branch of the revenue had been committed. For particulars, 
 Stevens, p. 248. may be confulted. One fa£t, however, may be taken notice of. It is 
 aflerted in the paper he tranfcribes (which feems to have been drawn up by one of the com- 
 miffioners, or at leaft by a perfon perfectly acquainted with the whole tranfadion), that 
 the plate, jewels, and moveable efFeds of the different abbies were worth a million of 
 money, though fold, by means of the artful contrivances of the commiiSoners, greatly 
 under their value. Nay, that a confiderable part of the low prices that were given, re- 
 mained unpaid for many years. 
 97 Noy's Rights of the Crown. 
 
 S grants
 
 130 HISTORY OF THE PUBLIC REVENUE 
 
 grants from parliament. The queen's frugality was fuch, that cxpences, 
 however trifling, even the charge of expreffes, on delicate and important 
 tranfadions, were not reckoned beneath her notice. But, above all, her 
 imperious fpirit, and her anxious defire to maintain her dignity and in- 
 dependence, made her feduloufly avoid afking fupplics from parliament, 
 unlefs when abfolutely neceffary ; nor would fhe ever liften to any plan 
 of retrenching her prerogative, and of adding to the rights and privileges 
 of the people, or of gratifying them even in regard to the appointment 
 of a fucceflbr, for the fake of any pecuniary recompenfe ". The fol- 
 lowing is a ftate of the parliamentary fubfidies and fifteenths received 
 by Elizabeth, during the courfe of her reign, in which eighteen fubfidies. 
 from the clergy are not included, / 
 
 J.D. Tear of ^^^j. p.j.^^ 
 
 her reign. ■' ■' 
 
 1558 I I 2 
 
 1563 — — 5 — — ^ — — o 
 
 1566 — — 8 -_ — I _ _ I 
 
 I571 — — 13 _— I __2 
 
 1575 — — 18 —— I — — 3 
 1 58 1 — — 23 — — I — — 2 
 
 1584 27 — 1 — — '2 
 
 1588 — — 31 — _ 2 —.— 4 
 
 1593 — — 35 —— 3 — — 6 
 J597 __ 39 __ 3 __6 
 
 1601 — — 43 — — 4 — — 8 
 
 99 
 
 19 38 
 
 Amount of The valuc of the grants beftowed by parliament upon this princefs, may 
 
 I e grants. |^^ ^^^ eftimated : Every fubfidy amounted to about 70,000/. '""j and as 
 
 there were nineteen fubfidies, they muft have produced 1,330,000/. A 
 
 fifteenth yielded 29,000/. ; and confequently, thirty-eight fifteenths, was 
 
 9' Pari. Hift. vol. iv. p. 73. 
 
 5» After examining the Statute Book, the whole grants feem to have been but nineteen 
 fubfidies, and thirty-eight fifteenths ; and D'Ewes, p. 232. fays, that the grant anno 1575, 
 was of one fubfidy, and only two fifteenths. 
 
 "" See Black, vol. i. p. 310. Subfidies were at fir-ft more productive. 
 
 about
 
 OF THE BRITISH EMPIRE. .^i 
 
 about 1,103,000/. Eighteen fubfidies were granted by the clergy, valued at 
 20,000/. each, conicquently equal to 360,000/. The whole, therefore, 
 might amount to about 2,800,000/. which is the fum ftated by Sir Ro- 
 bert Cotton "" ; and indeed by Lord Salifbury in parliament '". Hume 
 very juftly remarks, that if the fupplies granted to Elizabeth, during a 
 reign of forty-five years, amounted even to the fum of three millions, it 
 would only make 66,666/. a year "". 
 
 But Elizabeth's refources did not depend entirely, either on the ordi- Monopolies, 
 nary revenue of her kingdom, or on the temporary and occafional aids 
 of parliament. For the crown, at that time, claimed a right of granting 
 excluflve privileges of trading, in any article it thought proper, to 
 any perfon it chofe to appoint. Such monopolies were fometimes 
 fold, and it is probable, yielded confiderable funis to the exchequer ; 
 and fometimes they were granted, as a reward to thofe who had 
 diftlnguiflied themfelves in civil and military employments ; but they 
 were much oftener given to the minions of the court, in recompenfe 
 for their fervility. 
 
 The number and importance of the commodities which were thus 
 monopolized, is almoft incredible. Among many others, hiftorians 
 mention fait, iron, powder, cards, calf-fkins, fells, pouldavies, ox-fhin- 
 bones, train oil, lifts of cloth, pot-afhes, annifeeds, vinegar, fea-coals. 
 Heel, aquavita;, brufhes, pots, bottles, faltpetre, lead, accidences, oil, 
 calamint-ftone, oil of blubber, glafles, paper, ftarch, tin, fulphur, new 
 drapery, dried pilchards ; tranfportation of iron ordnance, of beer, 
 of horn, of leather ; importation of Spanifh wools, of Irifli yarn, 
 ^c. Isfc. We are told, that when this lift was read over in the 
 Houfe of Commons, a member (Mr. Hackwell) loudly exclaimed, 
 " Is not bread in the number ?^^ " Bread!" faid every one with 
 aftonifhment. " Tes^ I ajfiire you^'' replied he, " if affairs go on at 
 " this rate, we Jloall have bread reduced to a monopoly before next 
 *' parliament ""*." 
 
 '°' See Steven?, p. 206. 
 
 ""• See Comm. Journ. vol. i. p. 395. Lord Salifbury however calculates, that there 
 were twenty fubfidies, and thirty-nine fifteenths, granted to Elizabeth. 
 •05 Hift. vol. v. p. 475. 
 >"♦ D'Ewes, p. 64.8. Hume, vol. v. p. 439. Pari. Hift. vol. iv, p. 462. 
 
 8 2 It
 
 tja 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Extortions. 
 
 Eurleigli's 
 fyftem of ex 
 tortion. 
 
 It IS eafy to fee the confequences of fuch a fyftem. Trade was 
 abandoned, and induftry almoft totally extinguifhed. " // bringelh 
 *' (faid a member in the Houfe) general profit ifito private hands^ and 
 " the end is beggary and bondage.'^ A fingle patent, contrived for the 
 advantage of four rapacious courtiers, occafioned the utter ruin of feven 
 or eight thoufand induftrious fubjedts '°'. This abufe, and the manner 
 in which fo deftruiftive a prerogative was exercifed by Elizabeth, is one 
 of the greateft blots in her reign. In vain did parliament interfere. 
 The haughty fovereign would not permit her prerogative to be called 
 in queftion ; and the more the Houfe endeavoured to procure a redrefs 
 of the grievance, the more refolutely was it maintained. In a fpeech 
 from the throne, at the diffblution of one of her parliaments, whofe 
 conduft fhe particularly refented on that account ; fhe told them, " That 
 " with regard to the patents, fhe hoped that her dutiful and loving 
 " fubjeds would not take away her prerogative, which is the chief 
 " flower in her garden, and the principal and head pearl in her crown 
 " and diadem, but that they would rather leave the matter to her 
 " difpofal." However, not long after, fhe ifTued a proclamation for 
 repealing fome of the moft obnoxious monopolies ; particularly on 
 fait, oil, ftarch, ^c. for which fhe received the folemn thanks of her 
 Commons "*. 
 
 Nor is it poflible totally to acquit this high-fpirited princefs, of illegal 
 extortion from her fubjeiSts. She is faid to have exaded, every New- 
 year's-day, above 60,000 crowns, in gifts from her dependants ; and 
 to have raifed 100,000 crowns yearly, by granting licenfes to Roman 
 Catholics and Non-conformifts, exempting them from the penalties 
 which the law impofed upon fuch as negledled to attend the public 
 fervice of the eftablifhed church. She alio made ufe of the prerogative 
 which the crown enjoyed, of laying an embargo on m.erchandife, if not 
 to extort money, like her predecelFor Mary, at leaft to procure, at an 
 eafy rate, the commodities fhe wanted '^'. 
 
 The power of the crown during the reigns of the houfe of Tudor, 
 was fuppofed to be fo abfolute and uncontrolled, that Burleigh, the 
 
 •°' D'Ewes, p. 242. 
 
 "•* See her famous fpeech upon that occafion, D'Ewes, p. 659. 
 
 ""' Strype's Annals of the Reformation, vol. i. p. 28. 
 
 ablefl
 
 OF THE BRITISH EMPIRE. i^j 
 
 ableft ftatefman of his time, actually built upon that idea, a fyftem of 
 extortion, which it is hardly poffible to credit. In a fpeech he made to 
 the queen and council, he propofed the eredion of a new court, to be 
 entrufted with a general inquifitorial power over the whole kingdom, 
 for the better corredlion of abufes. By fuch methods, he afferted, 
 Henry VII. had added greatly to his revenues ; and he exprefTed his 
 full expeftations, that fuch an inftitution would procure a greater ac- 
 ceffion to the royal treafure, than Henry VIII. derived from the abolition 
 of the abbies, and the feizure of the property of the church '"''. The 
 propofition was wifely rejedted ; but it is not a little fmgular, that fuch a 
 plan fhould ever meet with the fmalleft countenance from fo refpeQable 
 a charadter. 
 
 Elizabeth continued the pradice, of which fo many examples had Comp^JCve 
 been fhown by her predeceflbrs, of extorting loans from her fubjedls, 
 and of imprifoning fuch as ventured to refufe ; and although fhe took care 
 to repay them when it was in her power (a very unufual ftep with the 
 former fovereigns of England), yet the money that was borrowed, lay 
 in the hands of the crown, without intereft, and, confequently, fuch loans 
 were produdive of confiderable lofs to thofe from whom they were 
 exaded. By an ad in the fecond year of Richard II., the prerogative 
 of exading loans had been recognifed by parliament; at leaft, a claufe 
 was inferted, exempting none who could not produce a reafonahle excufe; 
 the juftice of which, the king alone had the power of determining. 
 Indeed, this right was fuppofed to be fo firmly eftablifhed in the crown, 
 that Burleigh propofed to demand a general loan from the people, equi- 
 valent to a flibfidy, which, if the money was not repaid, was tn fad im- 
 pofing taxes without the fandion of parliament '°'. 
 
 The fovereign of a country, which has fince borrowed fo many mil- Foreign 
 lions, was then occafionaily obliged to apply to Hamburgh, Cologn, °^"'" 
 Antwerp, and ether wealthy cities on the continent, for fmall loans. 
 The intereft i"he paid was generally from lo to i^ per cent, ; and fhe 
 Was farther obliged to furnifti the additional fecurity of the city of Lon- 
 don, and fometimfes the perfonal bonds of her principal minifters, 
 before her wants coUld be fupplied. But the wealth of her kingdom 
 
 '"' Stl-ype's Annals, vol. iv. p. 234. Suppofed to have been drawn up anno 1594. 
 "■* Hume, vol. v. p. 460. 
 
 I increafing,
 
 J34 HISTORY OF THE PUBLIC REVENUE 
 
 inci-eafing, and her credit being fully eftahlirhed by her frugality, her 
 punduality and fuccefs, flie was at laft enabled to procure at home the 
 money fhe required, and was no longer dependent on foreigners ior 
 pecuniary affiftance "". , 
 
 Plunder. I^ the courfe of the war agaitift Spain, many important enterprifes were 
 
 undertaken at the expence of private adventurers, in which Elizabeth 
 took a part, in common with her fubjeds, and received her proportion 
 ■of the plunder that was captured. On fome occarions,,thc fpoil was very 
 unequally divided ; particularly anno 1592, a valuable fhip having been 
 taken by Raleigh and Frobifher, liippofed to be worth 300,000/., twenty 
 thoufand pounds, a tenth of the prize, was all, that the queen was enti- 
 tled to from her Ihare of the vcffel. But this fum was far from being 
 fatisfadory, and they were glad to give her 100,000/. in full of the 
 claims, to which they would probably have been made liable, in favour 
 of fo potent a partner in the adventure '". 
 
 It may be proper here, to mention her receipt of a fum of money, 
 which it i? not known whether it ought to be placed under the head 
 of a foreign loan, or of foreign plunder. Jlniio 1571, fome merchants 
 of Genoa had contradled to tranfport 400,000 crowns, for the ufe of 
 Philip's forces in the Netherlands. The fliips, on board of which the 
 money was put, being attacked by fome French privateers, were glad to 
 take flielter in the Englilli ports ; and the money was feized by Elizabeth, 
 under the pretence that it was the property of the Genoefe merchants, 
 from whom fhe would borrow it herfelf, having occafion for money. 
 This circumftance not only greatly contributed to the war that arofe 
 between Spain and England, but was alfo attended with other important 
 confequences ; for the want of this fupply, being likely to occafion 
 a mutiny in his troops, reduced the duke of Alva to the necefllty 
 of raifing money, by methods of fo oppreffive and tyrannical a nature, 
 that it gave rife to the revolt of the Dutch, and the independence of their 
 jepublic "\ 
 
 Calais, The poffeffions of England on the continent had been reduced, 
 
 previous to the acceffion of the houfe of Tudor, to the town and in- 
 confiderable territories of Calais ; and even that laft remnant of the 
 
 "° Stevens, p. 246. '" Camden, p. 466. Hume, vol. v. p. 466. 
 
 "' Hume, vol. v. p. 194, 
 
 conquefts
 
 OF THE BRITISH EMPIRE. i35 
 
 conquefts made by the Henrys and the Edwards, had been recovered by 
 
 the French, during the difgraceful adminlftration of Mary. It was a 
 
 town which France was determined not to give up, and which England 
 
 could not avowedly relinquilh. But as both parties were equally defir- 
 
 ous of peace, it was at lafl agreed upon, that the French Ihould hold 
 
 Calais for the fpace of eight years, at the end of which it was to be re- 
 
 ftored, under the penalty of 500,000 crowns ; the receipt of which was- 
 
 not to deftroy Erizal>eth's title to that podeffion. Five hoftages were given 
 
 for the performance of this article, who were afterwards releafed for the Anno 1563. 
 
 fum of 220,000 crowns. Her claim, fuch as it was, fhe ftill retained ; 
 
 and at the end of the Itipulated period, care was taken to demand the re^ 
 
 ftitution. The French, however, found pretences fufficiently plaufible to 
 
 evade their engagement ; and the queen thought it better to fubmit to the 
 
 lofs, than to profecute fo doubtful a title by a war, equally dangerous and 
 
 expenfive, and at that time peculiarly uafeafonable "\ 
 
 It is evident, from this long enumeration of the various fources which Amount of 
 contributed to fill the coffers of Elizabeth (many of which were of a very 
 precarious and' uncertain nature), that it is impoffible to eftimate what 
 was the real value of her annual income. Voltaire imagines, that it ex- 
 ceeded 600,000/. a year "^ Hume, on the other hand, eonjeftures, 
 that it fell much fhort of 500,000/. "\ and there is every reafon to give 
 full credit to the latter computation. 
 
 A particular account is ftill extant, of the fpecie coined during the Specie 
 reign of Elizabeth, to the value of 5,513,717/. iij-. i-^V. of which *^°"''^'^- 
 4,718,579/. 2J. 8^d. was in filver, and only 795,138/. 8s. /\.^d. in 
 gold. This includes filver to the amount of 85,646/. 19^. 51^. em- 
 ployed in coining the bafe money, i(Ried for the ufe of Ireland "*. 
 
 "We are told, that the office of poftmafter-general exifted in England ^°^ ^^'^^' 
 during this reign '". Some poft-houfes confequently muft have been 
 ereded. But the poft-office was productive of expence, and not of re- 
 venue, until the time of the commonwealth. 
 
 The heavy burden of maintaining the poor, which it was imagined Pool's "'«• 
 would have been provided for by voluntary contribution,, or would have 
 
 "^ Carte, vol. iii. p. 460. "■* Gen. Hift. vol. iii, p. 85. part v, c. 13, 
 
 "s Hift. vol. v, p. 474. "* Folkes on Coins, p. 6j. Note. 
 
 *■" Camden, p. 26J. 
 
 fallen,
 
 136 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Debts. 
 
 Subfidies re- 
 miited and 
 refufed. 
 
 Voluntary 
 contribu- 
 tions. 
 
 fallen, either on the pofieHbrs of the church-lands, or on tlie fecular 
 clergy '", became in the reign of Elizabeth a general tax upon the com- 
 munity. The fituation of the poor, before the a£ts were pafTed for 
 their relief, is reprefentcd as moft deplorable ; and even after they had 
 a legal title to fupport, the aflciTments were fo low, that it is faid many 
 perilhed for want "°. Befides the taxes levied for the relief of their paro- 
 chial poor, every parifli was alfo charged from two to eight fhillings a 
 week, for the maintenance of fick and wounded foldiers and feamen, 
 for whom there was then no regular provifion. 
 
 Elizabeth left behind her debts to the amount of about 400,000/. 
 which were paid by her fucceflbr '". But that fum was much more than 
 compenfated by the claims to which, at her death, he w^as entitled. 
 The king of .France owed her 450,000/. The ftates of Holland were 
 indebted in no lefs a fum than 800,000/. a confiderable part of 
 •which was paid ; and the fubfidics due to Elizabeth, when fhe died, 
 amounted to about 350,000/. which James received foon after his 
 accefhon "'. 
 
 This reign is diftinguifhed for the laft example in the Englifh hiftory, 
 of a fubfidy being rejeded by the fovereign, when offered by the people; 
 and Elizabeth publicly declared, on that occafion, that (he confidered it 
 to be the fame thing, whether the money they offered was in the pockets 
 of her fubjeits, or in her own exchequer : a fentiment equally ex- 
 preffive of the ftrength of her judgment, and of her confidence in her 
 fubjeds. And anm 1585, when the commons offered her a benevolence^ 
 fhe nobly refufed it, declaring, that fhe had no occafion for money at 
 that time '". 
 
 It is a pleafmg circumftance to be able to relate the grateful return 
 which Elizabeth met with from her fubjeds, for the general popularity 
 of her government, and the great wifdom and fuccefs of her adminiftra- 
 tion. When her crown was in danger, in confequence of the warlike 
 preparations of Philip king of Spain, who fitted out, what he called, an 
 Invincible Armada, for the conqueft of England, and the capture of 
 
 "• It appears from D'Ewes, p. 56T. that a bill for relievirig the poor out of impro- 
 priations, and other church livings, was loft by 29 votes. The Ayes were J17, the 
 Noes 146. '9 Stevens, p. 254, 255. 262. 
 
 '-" Reftauranda, p. 35. Frag. Reg. p. 12. Pari. Hift. vol. v. p. 147. 
 
 •*' Pari. Hift. vol. V. p. 219. '" D'Ewes, p. 494. 
 
 Elizabeth,
 
 OF THE BRITISH EMPIRE. rj7 
 
 Elizabeth, the fplrit and loyalty of the people are hardly to be con- 
 ceived. The nobility and gentry fitted out forty-three fhips at their 
 own expence. London, and the other principal ports in England, 
 voluntarily equipped double the number of veflels that was demanded. 
 Formidable armies were colleded without difficulty or murmur. Every 
 diredtion given for the better fecurity cf the coaft, met with a prompt 
 and cheerful obedience ; and each perfon, in proportion to his ability, 
 furniflied pecuniary affiftance, and gloried in an opportunity of difplay- 
 ing his attachment to his fovereign, and his zeal to preferve the liberties 
 and independence of his country. 
 
 Such were the different modes adopted under the government of the Conciufionof 
 houfe of Tudor, for raifmg a revenue. During this xra, fome progrefs ''"'^ cQapter. 
 was made in finance ; the advantages of public credit, and of a flridl 
 . adherence to public faith, were difcovered by the politic and fagacious 
 miniflers of Elizabeth ; and the cufloms, and other branches of the 
 revenue, were rendered more produdive. But the period is parti- 
 cularly remarkable, for laying the true foundation of the poverty of the 
 crown, and of the confequent power and importance of the commons. 
 When the emperor Charles V. was told, that Henry had fupprefTed the 
 monafleries, he judicioufly remarked, that the king of England had 
 killed the hen that laid him the golden eggs. In fadl, the opulence of 
 the church was always a fure refource for the crown to look up to. 
 The clergy could hardly evade any burden the king might chufe to 
 impofe. When, in addition therefore to the royal domains, the pro- 
 perty of the church was fquandered, the fovereign had nothing to de- 
 pend on, but the afTiflance of the nation at large, through the medium 
 of its reprefentatives ; and Elizabeth's fuccefTors found, that fuch affift- 
 ance could not be procured, w'ithout redreffing the grievances of the 
 people, and agreeing to fuch farther fecurity for their rights and privi- 
 leges, as they might think proper to demand'". 
 
 "^ In a work printed by Stafford and Davenport, for S. Hooper (No. 212, High 
 Holborn), An. 1787, there is an Appendix to the Account of the Commiflioners of the 
 Land Revenues, which contains a flatement of the Land Revenues of the Crown, An. 
 1555, amounting in all to 86,690/. 15 y. 2x d. But in the Appendix, No. II. there is a 
 general compendium of the ftate of the Royal Revenue, towrards the clofe of the reiga 
 of Queen Elizabeth. The grofs produce is therein ftated at 502,231 /. 14. s. id. the de- 
 dudions at 46,864/. 17^. j confequently the clear income game to 455,366/. 17*. id. 
 
 T CHAP.
 
 138 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 CHAP. IX. 
 
 Of the Revenue of Ei^gland^ from the Acceffion of the 
 Houfe of Stuart to the Revolution 1688. 
 
 THE acceffion of the houfe of Stuart to the throne of England, and 
 the confcquent union of the two crowns, it was imagined, would 
 have been at once attended with the mofl beneficial confequences to 
 both kingdoms. But, unfortunately, fuch happy profpedts were blafted, 
 firfl, by the imbecility of this monarch's character, and afterwards, by 
 the infatuation and obftinacy of his fucceflbrs. Whereas, if James had 
 aded with vigour and prudence, and if his pofterity had avoided the 
 rocks of defpotifm, and of tyranny, on which they fplit, thefe kingdoms 
 mi^^ht have arrived at their full maturity and ftrength at a much earlier 
 period. But the domeftic quarrels of England, befides retarding her 
 progrefs towards maturity and ftrength, enabled France to acquire a 
 degree of power and influence which could not afterwards be checked 
 without the utmoft efforts ; and the ufual revenue of the country being 
 inadequate to fuch exertions, the foundation was, unfortunately, but 
 almoft neceffarily laid, of that heavy load of debt with which we are 
 now incumbered. 
 
 In addition to the weaknefs of this monarch's condud, and the high 
 notions which both he and his fucceffors entertained of the inherent pre- 
 ro"-atives of the crown, other circumftances concurred to retard the 
 Britifh monarchy in its progrefs towards its meridian ftrength and glory. 
 The former jealoufy and rancour between the Englifh and the Scots ftUI 
 continued ; and every plan of uniting the two countries met, particu- 
 larly on the part of the Englifh parliament, with various obftrudion. 
 The attention of both kingdoms was alfo taken up by religious contro- 
 verfies ; and, at laft, a fatal conteft arofe with regard to the revenue 
 of the crown, and the franchifes of the people, and indeed refpeding 
 every branch of the conftitution, however important or minute ; and the 
 confequence was, a feries of calamities, which even the hiftory of Eng- 
 land can hardly parallel. 
 
 The
 
 OF THE BRITISH EMPIRE. * 139 
 
 The circumftances have already been pointed out, which had con- 
 tributed to diminifh the income of the crown, arifing from the aliena- 
 tion of the royal domains, and the deftrudtion of that ancient fource of 
 revenue, the great wealth and property of the church, which, after 
 having been feizcd by the fovereign, was wafted, without leaving a 
 remnant to enrich the exchequer. But the royal income rapidly 
 diminifhed, not only in nominal amount, but alfo in real value. After 
 the difcovery of America, fpecie became every day more plentiful in 
 €very part of Europe ; and the confequence w^as, fuch an addition to 
 the price of all commodities, as rendered the fame revenue much lefs 
 efficient than formerly. Thus the crown was reduced to poverty, at a 
 time when it was natural for the fovereign to afpire to an equality, in 
 point of magnificence and expence, with the other monarchs of 
 Europe ; or, at leaft, to preferve the fame appearance when compared 
 to his own fubjeds, by which the rank and dignity of his predeceffors 
 had been fupported. Whilft thefe circumftances led the crown to wifh 
 for a great and independent revenue, the people reluctantly fubjefted 
 themfelves to every unufual burden ; and were determined, unlefs in a 
 legal manner, by the votes of their reprefentatives in parliament, not 
 to part with any fhare of the property acquired by their own induftry 
 and labour. Learning alfo began to flourilh, and to be very generally 
 difFufed ; the rights of mankind, both to civil and religious liberty, 
 were every day more frequently difcufl'ed, and the more they were 
 examined, appeared the clearer and better founded ; and from natural 
 differences of opinion, between the crown and the people, as to thofe 
 important articles, difputes arofe, which, in the reign of this monarch's 
 fucceflbr, were attended with circumftances equally lingular and im- 
 portant '. 
 
 Revenue of J A M E S I. 
 
 It might naturally be expedled, that a prince who had been fo long 
 accuftomed to live upon the flender revenue which Scotland could then 
 afford, would have carried with him to the throne of England fome in- 
 clination to frugality ; but the contrary was vifible during his whole 
 
 • Hume, vol, vi, p. 47, 
 
 T 2 reign :
 
 140 HISTORY OF THE PUBLIC REVENUE 
 
 reign : and though, in confequence of his great care to avoid engaging 
 in wars, his expences were almoft eotirely of a domeftic and perfonal 
 nature, yet they conftantly exceeded his income ; particularly in the 
 year 1610, to the amount of 8 1,000 /.\ though afterwards reduced in 
 1617, to 36,617/. a year'. The excefs, he tr lifted, parliament would 
 fome time or other fupply, and therefore could hardly be prevailed upon 
 to make the neceiTary retrenchments, or to eftablifti any economical ar- 
 rangement. 
 
 Expences. 
 
 1. Perfonal Though this monarch is reprefented by a great hiftorian, as but little 
 expences. addidted to luxurious expences *, yet it is difficult to reconcile fuch aa 
 
 opinion with the events of his reign. He kept up three courts: one 
 for himfelf, another for his queen, and a third for his eldeft fon ; being 
 at leaft one more than had ever been maintained by any former king of 
 England. His brother-in-law, the king of Denmark, twice vifited the 
 court of London, and James was far from difcouraging the expences 
 which fuch vifits neceflarily occafioned. The charges attending the 
 marriage of the king's daughter to the Eledor Palatine, including the 
 portion of that princefs, amounted to 93,278 /. a much larger fum than 
 had been expended by any of his predecelTors on a fimilar occafion ; 
 and this prince, who had not a fpark of avarice in his compofition, but 
 loved delicate and luxurious living, was far from being fpauing in the 
 expences of his table ^ 
 
 2. Bounty to It was at firft imagined, that the king's prodigality to thofe for whom 
 favounces. -^q entertained a reg-ard, originated from national attachments. His in- 
 
 confiderate gifts and bounty to fome of the Scotch nobility and gentry 
 who attended him to England ; and in particular, the unmerited favours 
 which he conferred on the infamous Car, earl of Somerfet, were attri- 
 
 » Comm. Journ. vol. i. p. 395. 
 
 3 See an Abftraft, or brief Declaration of the prefent State of his Majefty's Revenue; 
 London, printed for M. S. anno 165 1, p. 9. Reprinted in Sommer's Colledion of 
 Trails, 3 Coll. vol, ii. ♦ Hume, vol. vi, p. 172. 
 
 J In Macaulay's Hiftory of England, we have many inftances of this monarches pro- 
 fufion. See vol. i. p. 22. 34. note 39. 65, 88. ia4. 114. 153, (^c. 
 
 buted
 
 OF THE BRITISH EMPIRE. ' 141 
 
 buted to a blind partiality for his countrymen. But James clearly de- 
 monftrated, that he could be as grofufe to an Englifh, as to a Scotch 
 favourite. His bounty to Villiers duke of Buckingham was unlimited. 
 This defpicable minion, formed by nature to be only the pageant of a 
 court, was raifed, at once, to the fummit of power, of honour, and of 
 wealth. The higheft offices of the ftate were centered in his perfon ; 
 the moft important tranfadlions were condudled according to his humour 
 and caprice; and, whilfL his enemies were openly difcountenanced, 
 thofe who boafted of the. moft diftant connedlion with himfelf, or his 
 family, were enriched with the moft unbounded profufion *, 
 
 The king was not contented with giving his favourites all the lucra- 
 tive employments of the ftate, and confiderable grants from the royal 
 domains, but gifts in money, of great value, were alfo lavifhed on them. 
 In the firft fourteen years of his reign, 424,469/. were thus expended '. 
 One of his minions, Rich, afterwards created earl of Holland, happened 
 to whifper in the king's prefence, how happy it would make him, to be 
 mafter of a fum of money, amounting to 3000/. which a porter was 
 carrying to the treafury ; and in confequence of fo trivial a circumftance, 
 the whole load was given to him by his generous fovereign'. It is faid, 
 by the Englifh writers, that James did not make the proper diftindlion 
 between pounds Scots and pounds Englifh, and that lord Salifbury was 
 unable to convince him of the immenfity of one gift, until he had art- 
 fully brought a confiderable part of the fum, in fpecie, into the royal 
 prefence, when it appeared fo enormous, that the king, for once, ordered 
 his bounty to be diminifhed '. 
 
 It has already been obferved, that in the reign of Henry III. his eldeft ^ Prince of 
 fon, afterwards Edward I. had an income of only 15,000 marks; but 
 after the conqueft of Wales, the revenues of that principality, together 
 with the dutchy of Cornwall, and earldom of Chefter, were given" to 
 the eldeft Ion of the reigning monarch, to defiray the charges of his 
 court. Thefe pofTefEons yieHed, in the time of Edward the Black 
 Prince, 9982 /. 1.2 s. yd. which was then a very confiderable income. 
 But James exceeded all his predeceffors, in. his liberality to the heir 
 
 ' Hume, vol. vi. p. 79. ' Abftrait, fcff. p. 16. ' Hume, vol. vi. p. 173. 
 
 9 Twelve pounds Scotch, make but one pound fterling. The ftory maybe feen in tht. 
 Hiftorical Narration of the firfl fourteen Years of King James, p, 11. 
 
 apparent ; 
 
 Wales.
 
 ^42 ,HISTORY OF THE PUBLIC. REVENUE 
 
 apparent: for he beftowed on Henry Prince of Wales, his eldcfl: fon, 
 a clear revenue amounting to 51,415/. equal to at leaft 150,000/. of 
 money at this time. Henry, whofe death is much regretted by all the 
 hiftorians of that reign, had given early indications of great application, 
 joined to the ftrongeft natural pow^ers ; and he feems to have been well 
 entitled to every poflible mark of his father's attention and liberality-. 
 His premature death was therefore juftly confidered as a great national 
 lofs, it being more than probable, that his talents, equally fplendid and 
 popular, were better calculated than thofe of his brother Charles, to pre- 
 vent the fatal diftraftions by which the conftitution was overwhelmed. 
 
 4. Ireland. During the reign of James, as well as of his predecefTor, Ireland con- 
 
 tinued to be a heavy load on the exchequer of this country. At one 
 time, an army of 19,000 men was kept up there, whole maintenance, 
 from the high pay which even the common foldiers received, amounting 
 to eight-pence a day, was not a little burthenfome. It was alfo neceflary 
 to tranfmit the money from England, in confequence of the low ftate of 
 the Irifli treafury'°. 
 
 c. Palatinate. The Eledor Palatine was induced, by his own ambition, and his re- 
 liance on the countenance and aid of the powerful monarchy of England, 
 to engage in a plan of adding to his former territories, the kingdom of 
 Bohemia; and when he proved unfuccefsful in this attempt, and was 
 even driven Xrom his patrimonial poffeffions, he put the Englifh nation 
 and its fovereign to very confiderable expences. James alTerts in a 
 fpeech to parliament, that befides the voluntary contributions of the 
 EngliHi remitted to the Palatine, he had expended a very confiderable 
 fum in his caufe". The king's pacific difpofition, and his confidence 
 
 ■" Hume, p. 59. 178. 
 
 " What the fum adually is, is very difficult to underftand from the obfcurity of the 
 following paffage: "I permitted a voluntary contribution to preferve the Palatinate, which 
 "came to a great fum; for that purpofe, I borrowed alfo 75,000/. of my brother of 
 ♦' Denmaik, and now have fent to him to make it up 100,000/.; and all this have I done 
 "with the charge of embafiadors and otherwife, which hath rifen to an infinite fum, 
 " w«hich I have borne myfelf, and hath coft me above 200,000/. in preferving the Pa- 
 " latinate from invading ; finding no hope of the reft, befides 300,000/. and befides tl e 
 *' voluntary, contributions." The King's Speech, 30th January 1620. Franklyn's 
 Aiinals, p. 350. See an abftrad of the fpeech in Latin, Lords Journals, vol. iii. p. 8. 
 
 o in
 
 OF THE BRITISH EMPIRE. r^^ 
 
 In his own fklll In the arts of negotiation, had made him endeavour to 
 procure a reftoration of the Palatinate, by means of a treaty ; but find- 
 ing that mode ineffectual, he was obliged to have recourfe to arms, in 
 which he proved equally unfortunate. 
 
 Before the reign of Elizabeth, the navy, excepting In time of war, was ^- Navy^ 
 not an expenfive department. In her time it amounted to 30,000/. "' 
 But James was at firft particularly attentive to his fleet, and annually 
 expended 50,000 /. in repairing and keeping up this bulwark of his 
 kingdom, exclufively of timber from the royal forefts, to the amount 
 of 36,000/. He afterwards abated 25,000/. /^r annum in this im- 
 portant article ". 
 
 The only remaining material expence incurred by James, was, pay- 7- Hiiza- 
 ing off the debts of Elizabeth, amounting to about 400,000/. being 
 money borrowed upon the credit of fubfidies, the produce of which he 
 received. Nothing can be more difgufting than to hear this fum, 
 and the charges of her funeral, made ufe of as ftrong arguments with 
 parliament, to augment their fupplies. In return for fuch a crown as 
 England, James ought furely to have defrayed, without notice or com- 
 plaint, the fmall incumbrances of his generous predeceffor, and the in- 
 fignificant coft of her interment. 
 
 Let us next confider from what fources bis revenue was derived. 
 
 Refources. 
 
 Though almoft every reign fmce William the Norman fat upon the i.Demerae3. 
 throne had been produ£live of fome diminution of the landed property 
 of the crown, yet it ftill continued to be of confiderable value. The 
 nominal rent was fmall (amounting at James's acceff.on to the fum of 
 only 32,000/. per aiiniim '^* ) ; it was well known, however, to be worth 
 more ; and indeed it afterwards yielded about 80,000 /. a year. An at- 
 tempt was made, in the beginning of this reign, to procure a ftrid en- 
 tail of the crown lands on the king and his fucceffors for ever : but a 
 bill for that purpofe, though paffed by the lords, was rejedled by the 
 commons ; and James, finding no obftrudion to the fale of thofe lands, 
 
 " Noy's Rights of the Crown, p. 8. Stevens, p. 272. 
 . " Pari. Hift. vol, v, p. 316. •♦ Noy's Rights^f the Grown, p. 52. 
 
 continued
 
 U4. 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 2. Feudal 
 prerogatives. 
 
 5.' Feudal 
 aids. 
 
 4. Cuftoms. 
 
 continued the pradlcc, and raifed by that means no lefs a fum than 
 
 The rights which the king enjoyed as lord paramount, ftill remained 
 a badge of the feudal flavery of the Englilli. Purveyance in particular 
 was carried to fuch a height, tliat the officers- of the crown compelled 
 the people to take for their commodities, whatever price they chofe to 
 offer'*; and all the feudal prerogatives had become fo intolerable, that 
 parliament propofed to fettle an independent revenue on the crown in 
 their Head. An agreement was likely to have been entered into, at the;, 
 rate of ■200,000/. a year"; when, in confequence of difputes between 
 the king and his parliament as to other matters, the plan was rendered 
 abortive. 
 
 The reign of James furnilhes us with the laft example in the Englifli 
 hiftory, of any aid being levied on the knighting of the king's eldeft fon, 
 and the marriage of his eldeft daughter. The adl on which the firft 
 claim was founded, though of a very old date ", had been frequently 
 carried into execution by James's predeceflTors ; and Henry, the prince 
 of Wales, was fuch a favourite with the people, and the whole was ma- 
 naged with fuch moderation, that it yielded a confiderable fum '". The 
 other tax on the marriage of James's daughter to the Elector Palatine, 
 produced 20,500/. It is remarked, that a century had elapfed fmce 
 this aid had been demanded; no opportunity having occurred fmce the 
 reign of Henry VII. whofe eldeft daughter Margaret was married to 
 James IV. of Scotland ; in confequence of which alliance, James himfelf 
 inherited the crown of England. 
 
 The firft parliament that James afTembled, granted him, according to 
 former practice, the duties of tunnage and poundage for life. But the 
 more produdive this branch of the revenue became, the greater anxiety 
 did the crown feel to enjoy it in its own right, without the neceffity 
 of any application to parliament. Thence originated the difpute fo 
 
 ""5 Brief Declaration, &c, p. 10. 
 
 "* For inftance, in the beginning of the enfuing reign, it was complained of, that the 
 purveyors would only give fix-pence for a dozen of pigeons, worth fix (hillings ; and 
 two-pence for a fowl, worth one (hilling and fix-pence in the market. Comm. Journals, 
 25th of May 1626. vol. i. p. 864. 
 
 " Pari. Hift. vol. v. p. 264. 267. '^ 25 Edw. III. c. 
 
 ■9 jjr2i,8oo. See Brief Declaration, &c. p. 10. 
 
 warmly
 
 OF THE BRITISH EMPIRE. 
 
 145 
 
 ^^armly contefted between James and his commons, with regard to the 
 power of levying cuftoms, and of adding to the rates of the duties that 
 were impofed ". The payment of cuftoms by natives, at leaft to any 
 amount, certainly originated in the grants of parliament ; but the crown 
 had fo long received thefe duties, that it began to confuier the cuftoms as 
 a permanent branch of its revenue. Both Mary and Elizabeth had fhown 
 James the example of altering the rates on fome particular commodities. 
 The fame pradtice he intended to purfue, and to carry to a confiderable 
 height, though he was at firft cautious not to give umbrage by any im- 
 portant alteration. But the commons took fire at the principle, fore- Anno 1610 
 feeing to what lengths it might be extended ; and, indeed, paflTed a bill, 
 aboliftiing thefe additional impofitions,, which the houfe of lords thought 
 proper to re]eiX". The next parliament was proceeding to take fimilar Anno 1614. 
 fteps, when it was fuddenly diflblved j and thus the difpute remained 
 undetermined in this monarch's reign. 
 
 The amount of the cuftoms was rapidly increafing. At James's 
 acceflion they yielded only 127,000/. a year. The following is a ftate 
 of their produce, ari/io 1613 : 
 
 Outwards 
 
 At the port of London { ^^^^'^ 
 
 In all the out-ports 
 
 I In 
 
 Outwards 
 wards 
 
 — -^ — £ 61,322 16 7 
 
 — — — 48,250 I 9 
 
 £ 109,572 18 4 
 
 ' \ 38.502 9 4 
 
 13,030 9 9 
 
 Total £ 148,075 7 8 
 
 .. And, towards the clofe of this reign, they amounted to about 
 190,000/. 
 
 ^^ Among feveral treatifes publifhed upon this fubjecS, the beft in fupport of the pre- 
 rogative of the crown, is, " The Queftion concerning Impofitions, fully ftated," by Sir 
 John Davis, his Majefty's Attorney General ; printed anno 1656. And the beft defence 
 of the rights of the people, " The Liberty of the Subje<5t maintained againft the pre- 
 " tended Power of Impofitions," by William Hackwell ; printed anru 1641, 
 
 *' Hume, vol. vi. p. 51. , 
 
 i .u'; 
 
 u 
 
 The
 
 146 HISTORY OF THE PUBLIC REVENUE 
 
 The difproportion between London and the out-ports is very great ; 
 and proves how confiderable a fhare of the commerce of this countiy 
 has, uniformly centered in the capital. 
 
 ;. Grants. It was ailerted by the famous Lord Salifbur>', in a fpeech to parliament, 
 
 that there are but three inftances in the Englifh hiflory for 600 years, 
 prior to James's acceffion, of a fupply being refufed by the commons 
 when requeftetl by the fovereign " ; and the firft parliament that James 
 alTcmbled was as frugal of the public money as any of its predeceflbrs, 
 and would grant nothing but tunnage and poundage. The king, find- 
 
 c s.-: ing them determined, and being unwilling to have it fuppofcd that his 
 
 parliament and he were at variance, took the flrange ftep of fending a 
 melfage to the houfe, that he defired no fupply, and was refolved not 
 even to accept of a fubfidy ", when every perfon knew, there was nothing 
 he fo anxioufly wifhed. The-grants he received, during the whole courfe 
 ©f his reign, were only as follows : 
 
 J.D. T'^'^f Subf. Flft. 
 
 his reign. ■' ■' 
 
 1606 — 3 — 3 — 6 
 
 1610 — 7 — I — I 
 
 1621 — 18 — 2 — .0 
 
 1624 — 22 — 3 — 3 
 
 Thefe were all the fupplies granted by parliament ; and of thefe it is 
 faid by Hume, that the three fubfidies and three fifteenths, granted 
 aimo 1624, amounting to about 300,000/., being paid to parliamen- 
 tary commiflioners, ought not to be ftated to the king's perfonal 
 account'*. But this idea has been fully refuted by the female hifto- 
 xian of this reign, ^ who remarks that, though tfce commiffioners 
 received the money, yet they were totally ignorant how^ it was 
 
 *» Comm. Journ. vol. i. p. 395. Hume obfervcs, that Salifbury was miflaken in this 
 affertion. V<J. vJ. p. 72. Note R. ^ -i ,»'• -i 
 
 *3 Comm. Journ. vol. i. p. 246. *■• Vol. vi. p. 172. 
 
 ' expended j-
 
 OF THE BRITISH EMPIRE. 147 
 
 expended ; and as they were obliged to anfwer all money draughts 
 made upon them by the crown, their power was merely nominal. 
 ** One penny of this money (the king declared) fhall not be bellowed 
 " but in fight of your committees : but whether I ihall fend two thou- 
 " fand, or ten thoufand, whether by fea or land, Eaft or Weft, by di- 
 " verfion or otherwlfe, by invafion upon the Bavarian, or the Empe- 
 " ror, you mujl leave that to your king *'." It appears that a fubfidy 
 produced ' about 70,000/. and a fifteenth about 36,500/.;" confe- 
 quently, .the whole parliamentary grants received by James, amounted to 
 about a million. To thir, there are to be added about tv/elve fubfidies 
 from the clergy, which, at 20,000/. each, would produce 240,000/. ; 
 and one of the clerical fubfidies was at the rate of fix, and not of four 
 fliillings in the pound ; and therefore yielded 10,000/. additional. 
 One year with another, it is probable that he received, by parliamentary 
 and clerical grants, about 6:, 000/. per anmwi^ during the courfe of his 
 reign. 
 
 James had a price affixed to each rank of nobility, on the payment 6. Sale of 
 of which a grant was made out. The dignities of Baron, Vifcount, 
 and Earl, might be bought at the rate. of ten, fifteen, and twenty 
 thoufand pounds : and we are told of four earls who purchafed their 
 refpe£tive patents, at the fum fixed upon, in one year "'. But the moft 
 complete inflance of this mode of railing money, either in the reign of 
 James, or, indeed, in the Englifh hiftory, is the creation of baronets. It 
 is fuppofed, by our hiftorians, that this was a plan invented by Lord Sa- 
 lifbury : but it is more probable, that the idea originated with Sir Ro- 
 bert Cotton, who drew up, aiino 1609, an account of " the manner in 
 " which the kings of England fupported and repaired their eftates." 
 In this he remarks, that, " if his majefty would make a degree of 
 *' honour hereditary as baronets, next under barons, and grant them 
 •' in tail, taking of every one 1000/. in fine, it would raife, with eafe^ 
 ** 100,000/. ; and, by a judicious eledion, be a means to content thofe 
 " worthy perfons in the commonwealth, that by the confufed admiffioa 
 
 *s Macaulay's Hift. vol. i. p. 251. 
 
 "^^ See Brief Declaration, &C\ p. 70 and 71. Fifteenths formerly produced lefs, on ac- 
 count of the great deductions made for decayed towns. 
 ^' Franklyn's Annals, p. 33. 
 
 U2 «of
 
 ,48, HISTORJ.OF THE PUBLIC REVENUE 
 
 iji 
 
 " of many knights of the Both, hold themfelves difgraced "." The.^ 
 plan was carried into execution anno 1611 : each baronet, by way,., 
 of purchafe for the honour, became bound to maintain thirty footj 
 foldiers for three years, at eight-pence a day each, to aflifl; the king's ^( 
 troops in the redudlion of Ulfter in Ireland. The price confequently ., 
 was 1095/. Ninety- three were created, the fale of whofe patents, 
 yielded 98,550/." _ _ ...^ 
 
 7. Monopo- Among the other fources of dinenfion between James and his par- 
 ^"- liaments, that which refpe<Sled monopolies was of peculiar importance^ 
 
 being equally conne£led with the commerce and the revenue of the 
 country. The king had annulled, of his own accord, all patents for^ 
 monopolies by which any fpecies of domeftic induftry was fettered ;, 
 but all foreign trade, that of France excepted, was poflefled by exclufive ^ 
 companies; and hence the navigation and commerce of the kingdom, 
 were every day fenfibly diminifliing. " Thus" (in the ftrong expref- 
 fions of Hume) " the trade of England was brought into the hands of ^ 
 " a few rapacious engroflers ; and all profped of future improvement , 
 " was for ever facriliced to a little temporary advantage to ..thft^ 
 " fovereign '"." Anno 1621, a patent which had been granted to Sir 
 Giles Montpeflbn and Sir Thomas Mlchell for licenfing inns and ale-;, 
 houfes, and another to Sir Edward Villiers, for the ible making of gold^ 
 and lilver lace, came into dlfcufhon. The powers given to thel'e patent , 
 tees were fo very exorbitant, and fo rigorouily carried into execution j^ 
 that they naturally excited the indignation of parliament. Yelvetton^' 
 the attorney-general, was fined 15,000/. for having drawn up the"' 
 patents: Mlchell and Montpeflbn. were punlfhed by fines, confifcation^"' 
 
 ,;M 
 
 03 
 
 *' This curious treatifc is coraained in a fmall volume, entitled, " Cottoiil Pofthuma,'* 
 TT'.'rfcrinted anno 1672: and the very fame work, with feme trifling alterations and differences,^ 
 is printed anno 1715, under the title of " A Treatife of the Rights of the Crown,- by' '^ 
 " William Noy, Efq. colleaed anno 1634." As Noy's work is printed feparately, I have, 
 in general, referred to it. But the work was certainly compofed in the reign of James I.', 
 SRd moft probably by Sir Robert Cotton. Dr. Smith, in his Life of Sir Robqrt Cottor*, 
 fays, that it was drawn up at the defire of the Earl of Norihampton, and that there, aj-p 
 two copies of it in the Cotton library, one in Latin, and the other In EngUfh, as publifhed 
 in the Pofthuma. See Carte's full Vindication of the Anfwer to the Byftauder,. p. j^, ^ , ^ ^^^ 
 »» Brief Declaration, &c, p. 1 1. Befides fome af^er-tieations. „ . rj adi {.cd bncl^il 
 J" Hume, vol. vi. p. 13- - - -.jiJioqoiQ 'irf <-v.b 
 
 ana:
 
 "^'^ OF THE BRITISH EMPIRE. '^ ,.45 
 
 antf imprifonment ; and even VilHers, though fupported by all the 
 
 credit of his brother the Duke of Buckingham, fufFered a ipecies of 
 
 banifhment under the appearance of being employed in a foreign em- 
 
 bafly". At laft an ad was paffed, by which all monopolies were Anno 1624. 
 
 condemned as contrary to law, and the known liberties of the people ^': 
 
 an ad which ought for ever to have put aa end to ih deflrudive a 
 
 grievance. 
 
 As- early as the year 1604, James had begun the dangerous pradlce 8. Loans, 
 of compelling his fubjeds to lend him money on the fecurity of the 
 privy-feal : but it is not known how much he then procured, or whether 
 any part of it was repaid *^ Two hundred thoufand pounds were after-'"' 
 wards extorted under the fame pretence. James's opinion on the fubjed, 
 he took no pains to conceal: for when the commons petitioned, that'" 
 no man fhould be enforced to lend money, or to give a reafon why he^ 
 would not, the king returned for anfwer, that in matters of loans, he 
 would refufe no- reafonable excufe ;. but that he did not wifli to have, 
 his condud direded by precedents drawn, from the reigns of ufurping. 
 princes, or a people too bold and wanton '*. 
 
 James exaded, anno 1613, a fum to the amount of 52,000/, under 9. Benero- 
 the name of a benevolence ; but lb fmall an advantage was certainly no '^'*'^^''- 
 Gompenfation for tlie odium and unpopularity of the meafure. Nor was 
 he much more fuccelsful. in hisfecond attempt: for though the cafe was 
 faid to be fo urgent that it could not brook the delays that would attend 
 aflembllng the parliament ; and though it was colleded to fupport the 
 popular caufe of the Eledor Palatine, yet the people,, anxious to dif- 
 courage fo pernicious a pradice, at firft very flowly and reludantly 
 contributed ^'. 
 
 The neceflities to which this monarch was reduced, made him con- 10. Mtne/ 
 elude a treaty with the States of Holland on terms, in a pecuniary view, n'^'"j'^* 
 
 t ■ 
 
 3' Pari- Hift. vol. v. p. 382. Hume, vol. vi, p. io3. 
 
 »* 21 Jac. cap. 3. " Stevens, p. 269. 
 
 i* Micaulay's'Hift. vol; i. p. 6o. 
 
 >» This benevolence became at laft more produflive. One Barnes, a citizen of Lon*- 
 don^ who fefufed to contribute, being ordered to* prepare himfelf for carrying a difpatch to 
 Ireland, had the meanncfs to fubmit to pay his quoti ; and no one afterwards ventured to 
 deny his proportion. Sec Hume, vol. vi. p, 140. Note G. 
 
 > • • indeed^,
 
 ifo HISTOll'^it)^ iTf^-E/ PUBLIC REVENUE 
 
 indeed, rather beneficial ttt hlmfelf, though, 'on the whole, not a little 
 favourable to the New Republic. "It has already "been ftated, that the 
 Dutch were indebted to Elizabeth to the amount of 800,000/. Of 
 this fum 200,000/. had been paid to James-, and he was to receive the* 
 remainder at the rate of 40,000/. fcr amium^ until the whole was 
 dilcharged. But the payment depended upbn a very uncertain 'contin- 
 gency, namely, the continuation of a truce concluded between Spain 
 and the United Provinces. The politic Elizabeth liad been put In pof- 
 feffion of the important fortrefles of Flufhing, the Brille,,and Ramme- 
 kins, as a fecurity for her debt: but the expences of the garrifons 
 (which England was obliged to fu'pport) amounted to 26,000/. a year: 
 confequently, 14,000/. was all the clear profits that accrued from the an- 
 nual payment ; and the whole fum which the king could poffibly re- 
 ceivfe, in the fpace of fifteen years, after defraying the neceflan' charges, 
 was only 210,000/. The Dutch, however, being anxious fully to 
 eftablifli their independence, which remained infecure, whilfl thefc im- 
 portant fortrefles, the very keys of their country, continued in the hands 
 of England, offered to take the garrifons into their own pay, and to give 
 James 250,000/. for the immediate po fieffi on ^*. The terms were 
 
 Jun£6,i6i6. accepted; and from the day on which thefe cautionary towns were 
 evacuated, the complete eftabliiliment of the Dutch republic in^y, be 
 dated. Nor was this the only money that James inherited from his pre- 
 <lecefl!br. He alfo received 60,000/. of the debt which Flenry IV. of 
 France owed to that princefs". ' ''■^'f 
 
 ''•^'^*"'« Atino 1608, the Dutch were compelled to pay an acknowledgment 
 for the liberty of fifhing- on the Britifli coafts : a fource of revenue^ 
 which was attempted to be more fully enforced during the enfuing 
 reign. 
 
 i2.' twines,' The lafl fource of James's wealth arofe from the heavy fine* 
 
 which it was then cuftomary to inflidt. Forty thoufaud pounds were 
 impofed upon the earl of Northumberland, and the lords Mordaunt 
 and Stourton, who were fufpedled of haying fome knowledge of the 
 famaus gunpowder plot, and of concealing it from the, king and his 
 minifters. Sir John Bennet, judge of the Prerogative Court, was fin^4 
 
 »* Hume, vol. vi. p. 8a. V Brief Declaration, &c. p. 11. .^ 
 
 20,000/.
 
 OF THE BRITISH EMPIRET. 15X 
 
 aOjOOoy. , The.. celebrated chancellor. Bacon wa$ fentenced tO: pay 
 40,000/. which however was remitted. The earl of Suffolk, who heW 
 the office of lord high treafurer, was fined 30,000/. by the court of Star- 
 chamber ; and the earl of Middlefex, in confequence of a parlia,mentar7 
 impeachment,, was , con.detnoed to pay 50,009/. If thefe fines had 
 been all exaded, they would have yielded the fum pf 184,000/. and 
 ivould have proved no fmall addition to this, monaji-ch's impovepilhed 
 exchequer ^'. 
 
 A particuUr account has been publifhetl of James's revenue, during Amount or 
 tlie firft fourteen years of his reign, from which it appears that his 
 prdiijary iacome did not exceed 450,863/..- that th-e extraordinary 
 -fuins he had received during that time, amounted to' 2,20o,oop/. a«d 
 that hi^ or,dinary dilTDurfements exceeded his permanenti income 36,617^ 
 py^ar". ■ .Amio 1610 lord Salilbury declared in parliamerit, that the- 
 king was burdened with a great and urgent debt of 300,000/. His inr 
 cprae, from all the different lources above enumerated,, was,- probably 
 ji,boiat 6qo,ooo/. though his permanent revenue, including fhe grants 
 pf parliament, could, rv^t rpuch exceed 500,000/. .a year;, efpecially as,, 
 during the latter part of his reign, he had fome reafqn to .complain of 
 the parfimony of his commons. But that fum was fufficient to carry on 
 the government of England iftythofe days, under a frugal' monarch, and 
 in peaceful times, though very inadequate to thcrfplepdid manner in 
 which James wiihed to live, and to thole plans of hoftility againft the 
 houfe of Auftria, ixitp v^'h^fk the CgmjiiOns would yvillingly. have plunged 
 
 ^ua. '•';''•!*! I'f-Ir'+O' ;hr'"" 9ld;;'-'fr/ -^'o ■-'•fM;7r. : h'/' ':■Vr■^,, 
 
 vl The fcheme afterwards .profecutfd by the long parliament,, of raifing Church "" 
 money> by abolithing the order of bifhops, and felling the lands belong- 
 ing to the church, was firft planned in the reign of James, and at one 
 period was not a little encouraged by his favourite Buckingham *°. But Anno 1624, 
 the views and politics of the court, upon Charl^'^ acceffion, took. ^..v^ry. 
 Qppofite diredlion. • d : ■ ; ; ,tr--, 
 
 " From the Brief Declr.rction of his Majefly's Revenue, p- 11. it appears-, that many of 
 
 thefe were compounded for fmall fums, making in all about i6,pc(,ol. to which there is to 
 
 be added 4000I. of fines for new buildings in and about London. r 
 
 - . ji 
 
 ^ ,^9 An Abftxafl, or brief Declaration of the- prefent Stat^, of bis Majefty's Revenue, 
 
 p. 5 and 9. *° Hume, vol. vi. p. 142. Macaulay, vol. i . p. 230. 
 
 '.J .i;i AI-?;i 'The
 
 15^ HISTORY OF THE PUBLIC REVENUE 
 
 Lottery. The firft lottery to any amount ever known In EngTand, at leafl: 
 
 Jrawn under the fandion oT^ "public authority, was in this reign. The 
 profit of it was principally dedicated to the expences attending the efta- 
 ■blifhment of our fettlements in America*'; to retain the dominion of 
 which, the produce of fo many lotteries, loans, and taxes, has of late been 
 ineffedlually expended. ' 
 
 Coin. The quantity of fpecie coined in the reign of James, was about 
 
 5,432,000/. of which 3,666,000/. was in gold, and only 1,765,000/. in 
 iilver**. It ftill continued to be the practice to iffiic fome bafe money 
 for the ufe of Ireland. 
 
 It is impofllble, in this place, not to regret the want of a performance 
 which lord chancellor Bacon intended to compofe upon the finances of 
 England. In a letter to king James, dated 2d January 161 8, he fays, 
 ■*' God having done fo great things for your Majefty, it refteth that you 
 *' do fo much for yourfelf, as to go through (according to your good 
 " beginnings) with the reiflifying and fettling of your eftate and means, 
 "** which only is wanting: hoc rebus defiiit unum. I therefore, whom 
 -" only love and duty to your majefty, and your royal line, hath made 
 ■*' a financier, do intend to piefent unto your majefty, a perfecl book of 
 *" your eftate^ like a perfpeiflive-glafs, to fhew your eftate nearer to your 
 ** fight, befeeching your majefty to conceive, that if I have not attained 
 '' to that that I would do in this which is not proper for me in my 
 *' element, I fliall make your majefty amends in fome other thing in 
 *' which I am better bred*'." It does not appear that this promife was 
 ever fulfilled ; and the only valuable work of this great author, con- 
 nefted with finance, at this time known, is an account of the lately 
 eredled office of Compofition for Alienations, faid to have been compofed 
 in the reign of queen Elizabeth, a^jout the end of the year 1598; 
 which, though not written upon an important branch of revenue, yet 
 fully prcrves what this great genius was capable of effeding, had he dedi- 
 cated his time and his abilities to a full inveftigation of the extenfive 
 fubjeft he had propofed. ^^ 
 
 ♦• Mort. vo\. ii. p.' ^\%. ) '"'^^'^'' '^ "' '■ ** Folkes on Coins 
 
 ♦ ' Bacon's Wo^ks, fql. ecfit. vol. iv. p. 673. Perhaps, the " Brief Declaraiion of the 
 
 Jiftingiii/b^d author 
 
 CHARLES 
 
 *♦ prefent State of Tils Majefty's Revenue," was drawn up to affift this dlftingiii/h^d author 
 m the Uik he had undertakefil f.^^'-^"^^' '^-v . • . ^" • fc -q
 
 -*> 
 
 OF THE BRITISH EMPIRE. 15^3 
 
 CHARLES I. 
 
 It is difficult to judge impartially of the important events which took 
 place during the reign of this unfortunate monarch. 
 
 On the one hand, when we contemplate Charles's private charafler 
 and deportment, we are apt to confider the multiplied charges againft 
 
 'him as malicious and ill-founded, and can hardly be perfuaded, that an 
 affedionate hufband, an indulgent parent, and a generous mafter, could 
 by any means be converted, as his enemies are apt to reprefent him, 
 into a rapacious tyrant, determined to pillage the property, and to 
 trample on the rights and privileges of his fubjeds. But on the other 
 hand, if our attention is folely fixed upon public tranfattions, we natu- 
 rally run into a very oppofite extreme. Even Hume, who has defended 
 this prince's condud with fubtlety, ability, and perfeverance, does not 
 fcruple to confefs, that Charles affumed powers incompatible with the 
 principles of a limited government; and that his difaflers ought to be 
 
 ^afcribed, neither to the rigours of deftiny, nor to the malignity of his 
 enemies, but to his own precipitancy and indifcretion **. 
 
 Thefe topics, however, are better fuited to a political, than to a 
 financial hiftory of England ; nor is it propofed to enter into the various 
 important queftions agitated at that time, excepting fo far as they may 
 te conneded with the particular object of this work. 
 
 I. Expences. 
 
 Though Charles, at his acceflion, inherited a crown and kingdom 
 apparently in the moft flourilhing fituation, and enriched, during the 
 courfe of his father's peaceful, but inglorious adminiftratlon, yet he had 
 many difficulties, both foreign and domeftic, to encounter. 
 
 The conqueft of the Palatinate, and the injiu-ious manner in which War with the 
 it was pretended the court of Spain had adted, whilft Charles's marriage Au"i[ria°^ 
 with the infanta was negociating, had occafioned, •■not. .only a rupture 
 .with that powerful kingdom, but a war with Ferdinaud II. einpeYor of 
 
 ♦' Hift. vol. vi. p. 47 2. .'„ Mb,)!, W.I ?ii Al*j >.i) r'-: 
 
 X Germany,
 
 154 HISTORY OF THE PUBLIC REVENUE 
 
 Germany, one of the ablefl and mod powerful monarcbs that ever fat 
 upon the Imperial throne : and the king declared to parliament, that it 
 would require at leaft 700,000/. a year to carry on thefe hoftilities 
 efFedually^'. 
 
 2. War with Though Charles was baffled in all his attempts againft the emperor 
 and the Spaniards ; though he had found how unwilling his par- 
 liaments were to grant him fupplies ; and how difficult, if not danger- 
 ous, it was to raife money by other means ; and though his connedtion 
 with the Houfe of Bourbon ought to have rendered him cautious of 
 ralhly entering into a conteft with that powerful family, unlefs on 
 grounds of great weight and moment, yet hurried on by the capricious 
 Buckingham, he ventured to engage in a war with France, even be- 
 fore hoftilities againft Spain were concluded. This enterprize alone 
 was much beyond the impoverifhed ftate of Charles's finances. An 
 expenfive expedition, "however, was undertaken to the Ifle of Rhe ; 
 and five fubfidies granted by parliament, anno 1628, were expended 
 in an attempt to relieve Rochelle, which, by the artifices of the Englifti 
 court, had been drawn into a rebellion. But Charles was unfuccefs- 
 ful in every foreign enterprize he undertook : and when a peace was 
 concluded, inftead of fecuring terms of oblivion and indemnity to the 
 unhappy Huguenots whom he had pledged himfelf to fupport, he aban- 
 doned them to the mercy of their fovereign, after fruitlefsly, but it is 
 probable, feebly attempting to procure fome ftipulation in their fa- 
 vour . 
 
 ^. War with The inglorious foreign wars into which Charles had entered, were ter- 
 minated by feparate treaties of peace. The firft was concluded with France, 
 anno 1629 ; the fecond with Spain, anno 1630; and for about ten years 
 afterwards Charles governed his dominions in peace, and managed his 
 own revenue, together with the fums which he exacted from his fub- 
 je£ts, with fuch a rigid oeconomy, that he not only paid off the debts 
 
 ♦^ Hume, vol. vi. p. 2c6. 
 
 ■i* *' Les Reformes de France n'y furent point compris. Une fi grand infidelite apres 
 " des paroles authentiquement donn^es, et fouvent reiterees, fera une fletriflure eternclle 
 •« a la memoire de I'infortune Charles I." Vaflbr Hiftoire du Regne de Louis XIII. 
 torn. vi. p. no. 
 
 he
 
 OF THE BRITISH EMPIRE. 155 
 
 he had contra£led during the Spanifh and French wars, but alfo con- 
 trived to amafs treafure to the amount of about 200,000/. Perhaps 
 this circumftance gave him fome encouragement to engage in an en- 
 terprize to which all his misfortunes may be afcribed. Impelled by- 
 deference for his clergy, and perhaps by a real convidion of its im- 
 portance, he refolved to eftablifli a fimilarlty in ecclefiaftical govern- 
 ment and ceremonies throughout all his dominions ; and in particular 
 to introduce a liturgy into Scotland, however obnoxious to the natives 
 of that country. The Scots, ftrongly attached to the dodrines and dif- 
 cipline of Calvin, determined to oppofe a fyil:em which they confidercd 
 as equally fubverfive of found religion, and contrary to facred authority. 
 No obftacle, however, could alter the king's refolution : and though 
 very moderate concefhons at firft would have appeafed the tumults in 
 Scotland, yet conceffions were never made until it was too late, and 
 until time had ripened new demands, which were as refolutely infilled 
 on. Twice did Charles put himfelf at the head of formidable fleets and 
 armies for the redudlion of Scotland ; but in vain ; for the Scots a£ted 
 with equal valour and prudence, and the EngUfh in general reludantly 
 fupported his attempt, juftly conjeduring, that the conquefl; of the Scots 
 would prove a prelude to the utter ruin of their own liberties. The ex- 
 pence attending thefe hoftilities, reduced the king to fuch diftrefs, that 
 he found it neceffary again to have recourfe to parliament ; and conceffions 
 were extorted from him, which enabled the commons to trample upon 
 the crown, and emboldened the army they had raifed, to deftroy both 
 the king and the conftitution. 
 
 To the credit of Charles it is to be remarked, that he fpared no ex- 4- Naval ex- 
 pence to render his navy formidable. At fea, he had no rival in ^^" 
 Europe. The Dutch were compelled to pay 30,000 /. for the liberty 
 of fifhing on the Britifh coafts ; and Africa, for the firft time, felt the 
 maritime force of this country : Sallee, the principal receptacle of the 
 Turkifh pirates, being deftroyed by an Englifh fquadron'*'. Even the 
 mound which Richelieu eredled acrofs the harbour of Rochelle, was a 
 confeffion that it could never be conquered by the arms of France, 
 
 <' Macaulay, vol. ii. p. 228. 
 
 X 2 Whiift
 
 parliamenc. 
 
 156 ' HISTORY OF THE PUBLIC REVENUE 
 
 vvhilft It remained accefliblc to the powerful fleets of which England 
 was then mlilrefs *'. 
 
 5. Perronal This monarch, with all his frugality, afTedled much the ftate and 
 
 fplendour of a king. He kept up, twenty- four palaces, all of them fo 
 completely furnlfhed, that when he removed from one to another, he 
 was not obliged to tranfport any article of furniture along with him. 
 His colledlion of pictures was the moft valuable In Europe, and he 
 fpared no expence, nay he rivalled Philip IV. of Spain, the mafter of the 
 Indies, in endeavouring to engrofs the mod valuable productions of tha 
 ableft artlfts ". 
 
 6. War with If has been much controverted, to whom the odium ought to be 
 afcrlbed of the fatal rupture between this monarch and his parliament. 
 Both parties had grounds fufficlently plaufible at the commencement of 
 the difpute, to juftify their proceedings. The king had to plead the 
 arbitrary fyftem of government pradtlfed by his immediate predeceflbrs ; 
 whilft the commons, with juftlce, urged more ancient precedents favour- 
 able to the liberties of the people, and indeed the unalienable rights of 
 natural freedom. In the progrefs of the conteft, as might naturally be 
 expefted, both were equally to blame. The commons cannot well be 
 defended, for not endeavouring. In the firft place, to gain the king, by 
 foothing arts, rather than having recourfe to violence ; and the propofals 
 which they made in the earlier part of the war, were too harfh and rigo- 
 rous. But it can hardly be denied, that the illegal means which the king 
 adopted for raifmg money; the dangerous and exorbitant prerogatives 
 which he claimed ; and the tyrannical manner in which both he and his 
 minifters adted, " rendered an oppofition to the meafures of the crown 
 " not only excufable, but laudable In the people '°." 
 
 Let us next confider from what fomces his Income was derived. 
 
 •»' The French had then no idea of rivalling England at fea. It appears from Le 
 Vajfors Hijloire du Regne de Louis XIII. Liv. xxv. that the fleet of France, at the fiege 
 of Rochelle, amounted only to about forty veflels, and the Spani(h fquadron to thirty-fix 
 more, but very ill equipped. The fuperiority of the Englifh fleet, vi'hen it amounted only 
 to feventy fail, is aclcnov/ledged by the king's minifters. Tom. v. part 2. p. 763, 764. 
 But it was afterwards increafed to about 140 fail ; and then, fays Vaflbr, " C'etoit une 
 " des plus belles armees navales, qu'on eut vue depuis long-terns." p. 833. 
 
 ♦9 Hume, vol. vii. p. 341, s" Ibid,, vol. vi. p. 304. 
 
 2. Income.
 
 OF THE BRITISH EMPIRE. 157 
 
 2. Income. 
 
 It is probable that the crown lands yielded a greater revenue in the i.Dcmefnej. 
 reign of Charles I. than under the government of his father. It is 
 certain, that a ftridl enquiry was made into the rights by which indivi- 
 duals held fuch lands as originally compofed a part of the royal do- 
 main ; and, after the example of Elizabeth, fome money was raifed, 
 by compounding with thole whofe titles were defeftive. One of the 
 means alfo by which the king was enabled to raife an army for the 
 redudion of Scotland, was borrowing 300,000/. on the fecurity of his 
 demefnes. 
 
 The jealoufy which parliament entertained of the houfe of Stuart, 2. Grants*, 
 rendered the commons very fparing of their grants to the monarchs 
 of that race. Nor were they fo valuable as formerly. In the 
 eighth year of Elizabeth, a fubfidy amounted to 120,000/.; in the 
 fortieth, it fell to 78,000/., and its produce aiino 1640, bad fallen 
 to 50,000 /. '' Subfidies were a tax upon income ; and as the 
 wealth of the country was rapidly increafmg, no reafon can be af- 
 figned for the decreafe of the produce of this tax, but the fraudulent 
 pradices of the afTeffbrs, who wilted to cultivate the favour of the 
 people by moderate afleflments, or who countenanced every means of 
 evafion, to diminifh the value of the grant, when, the government hap- 
 pened to be unpopular '\ 
 
 The grants which Charles received may very eafily be enumerated. 
 His firft parliament granted him two fubfidies from his Proteftant, and 
 four from his Roman-catholic fubjedls, which together are fuppofed to 
 have yielded about 112,000/.; and the Corainons were at that time 
 fo very parfimonious, that they rejeded a motion for adding twO'- 
 fifteenths to their former inconfiderable donation *% 1 he next parlia- 
 ment that was afiembled, voted four fubfidies, and three-fifteenths ; but 
 
 " In the famous Remonflraiice, 15th Dec. 1640, it is faid that fix fubfidies, and a 
 poll-bill, equal to fix more, would yield 600,000 /. It is certain that parliament would 
 not diminifh their value, and confequently a fubfidy cannot be accounted worth more 
 than 50,000 /. 
 
 s- Davenantj vol. i. p. 3^. '^ Rufli. vol. i, p. 190. 
 
 it
 
 158 HISTORY OF THE PUBLIC REVENUE 
 
 it was haftily diflblved before the vote pafled into a law. His third 
 parUament granted five fubfidies, in confideration of which, the famous 
 petition of right received the royal aflent. This grant did not exceed 
 250,000/. But the manner in which this mark of the liberality of 
 parliament was received, deferves to be commemorated. When fecre- 
 tary Cook informed the king of the fum that was voted, his majefty was 
 anxious to know by what majority it had been carried. " By One," 
 the fecretary replied ; and when the king feemed to be difturbed with 
 the information, he added, *' Your majefty has no caufe to be alarmed, 
 " for the Houfe was fo unanimous in making the grant, that it feemed 
 " to have but One voice." It is faid, that tears of affedtion ftarted in 
 his eyes, when he was told of this concefiion '*. 
 
 Thefe, amounting to feven fubfidies, and producing about 372,000/. 
 were the only grants which Charles received from his Commons, prior 
 to the meeting of the long parliament, by whom fix fubfidies, and a 
 poll-tax were voted before the commencement of the civil war. But 
 the produce was appropriated to pay the Englifh and Scotch armies, 
 and the money was given to commiffioners, appointed by parliament, 
 and not to the treafury. It is worthy of obfervation, that the king de- 
 manded twelve fubfidies, about 600,000 /. in lieu of his claim to (hip- 
 money ; and he offered, in confideration of that fum, to confent to its 
 being aboliflied, in any manner that was thought moft effeftual. This 
 propofal was, with the great eft propriety, rejecTted ; as any bargain to 
 procure the remiflion of that odious duty, would have been a kind of 
 acknowledgment that it had been legally levied. It was propofed to 
 raife the fum in the fpace of three years, and confequently at the rate 
 of only 200,000/. a year. It will appear, in the courfe of this chapter, 
 what confiderable fums were foon afterwards colleQed in England ; 
 and yet to prove how ignorant men generally are to what extent 
 Anno 1640. taxes may be carried, it was afferted in parliament, by perfons who 
 were fuppofed to underftand well the ftate of the nation, that twelve 
 fubfidies in three years was a greater fum than could be raifed in 
 all England". 
 3. Clerical During the reign of this monarch, the fortunate confequences which 
 
 grants. refulted from the diffipation of the revenues of the church, were clearly 
 
 '♦ Hume, vol, tI. p. 245. '' Clarend. vol. i. p. 136. 
 
 difcovered.
 
 OF THE BRITISH EMPIRE. 159 
 
 dlfcovered. Had that valuable property remained within the grafp of 
 the crown, the king might eafily have defrayed all the expences which 
 he could polTihly have incurred, without requiring the affiflance of par- 
 liament; and all controul on the regal authority mull have been for ever 
 at an end. Notwithftanding the great diminution of the property of 
 the church, the afTiftance which Charles drew from the clergy was con- 
 fiderable. Befides voluntary contributions, he received, in the earlier 
 part of his i"eign, eight fubfidies, which at 20,000/. each, amounted to 
 160,000/.; and it fhould feem, that another fubfidy was granted, an7io 
 1640; for the long parliament loudly complain of a tax having been 
 impofed by the Convocation, after the former parliament had been 
 difiblved '\ 
 
 It has already been ftated, that Elizabeth had reaped fome pecuniary 4; Compofi. 
 benefit, by difpenfing with the penal laws, enaded againft thofe who man catho- 
 adhered to the Roman catholic religion. This expedient Charles had '*^'* 
 recourfe to ; but inftead of fecret compofitions, a commiffion was 
 openly granted, and the popifh religion became an avowed and regular 
 fource of revenue " : A ftep highly impolitic at a time when his fub- 
 je<Ss in general were fo flrongly imprefled with the moft inveterate 
 prejudices againft the profeflbrs of that religion. 
 
 James I. had conceived a ridiculous idea, that a king of England 5- Queen's 
 would be degraded if he fhould efpoufe any princefs not of royal ex- 
 tra dion, and indeed that the daughters of France or Spain were the 
 only females to whom his fon ought to be married. ' In confequence of 
 this notion, he had entered into a tedious negotiation with the court of 
 Spain, which was broken off through Buckingham's caprice and in- 
 difcretion, much to the king's regret, who was to have received a 
 dowry with the infanta, of two millions of pieces of eight, equal to 
 600,000/. fterling. Upon the failure of that plan, James made pro- 
 pofals to the court of France, the confequence of which was, the mar- 
 riage of Charles to Henrietta, daughter of the famous Henry the Great. 
 Her portion was greatly inferior, being only 400,000 crowns ; neither 
 was it paid until fome years after the marriage was concluded ; but it 
 came at laft very opportunely for Charles, in the midft of his greateft 
 pecuniary diftreffes ^\ 
 
 5* Mort. vol. ii. p. 5J4.. " Ruft. vol. i. p. 413. '* Stevens, p. 276. 
 
 S . The
 
 j6o history of the PUBLIC REVENUE 
 
 6. Fi(hng The queftion how far the fea can be made the property of any par- 
 
 ticular nation, has been much controverted j and two learned authors 
 (Selden and Grotius) were employed by the refpedive governments 
 under which they lived, the firft to maintain, and the fecond to oppofe 
 this fpecies of dominion. But Charles knew that fuperior ftrength at 
 fea was the only argument by which fuch pretenfions could be fup- 
 ported ; and having, by means of the illegal impofition of fhip-money, 
 equipped a formidable fleet, he ordered the admiral, Algernon, earl of 
 Northumberland, to fail to the northern coafts of his dominions, and to 
 drive away all vefl^els fifliing in their neighbourhood without licence. 
 The Dutch, againft whom this equipment was particularly aimed, were 
 glad to pay 30,000/. for the liberty of fifliing that year; and the king 
 would have perfevered in exacting an annual tribute for permitting them 
 to fifh on the Britifh coaft, had not his attention been taken up by more 
 important objedts. 
 
 7. Cuftoms. One would imagine it was impoffible for the warmeft friend of the 
 
 unfortunate houfe of Stuart to juftify the fteps which Charles purfued, 
 in refpect to exacting the revenue of the Cuftoms for fo many years 
 without legal authority, and in a maimer fo harfh and oppreflive. He 
 Anno 1629. himfelf declared to parliament, that he did not mean to levy the duties 
 of tunnage and poundage as belonging to him by hereditary right, but 
 out of the full perfuafion that the Houfe of Commons would grant them 
 by bill ". And it appears from the hiftory of thefe taxes, the origin and 
 progrefs of which have been traced in the preceding part of this work, 
 that the Cuftoms, inftead of having originally been a permanent branch 
 of the royal income, arofe from a voluntary confent of the people by 
 their reprefentatives in parliament. 
 
 Though the law was clear, the pradlice was very irregular. Ever 
 fince the accefTion of the Houfe of Tudor, the duties of tunnage and 
 poundage had been levied without intermifTion ; and though granted 
 only for the life of the reigning fovereign, yet his fucceftbr continued to 
 exadt them, trufting to the future fandtion of parliament. Charles, at 
 his acceffion, had continued a practice, on which fo confiderable a 
 branch of his revenue depended ; and he would probably have re- 
 ceived a grant for life, as had been given to his predeceflbrs, had not 
 
 !» Pari. HiB, vol. viii. p. 256. 
 
 the
 
 OF THE BRITISH EMPIRE. i6i 
 
 the Commons required It as a preliminary, that he fhould, for once, 
 entirely defift from levying thefe duties. He haftily diflblved the par- 
 liament rather than agree to their propofal. This important controverfy 
 was at laft determined in a manner unfavourable to the crov.'n. The An. 1640. 
 exadion of the duties was not totally abftained from, but they were 
 granted only for two months; and the grant was renewed from time to 
 time, for very fliort periods. Care alfo was taken, to alTert, in the ftrongeft 
 terms that could be conceived, the exclufive right of parliament to 
 beftow the grant ; and in the preamble to the bills that were pafled, all 
 pretenfions that the crown could make, to levy the duties by its own 
 authority, were for ever annulled ". 
 
 It is faid, that the cuftoms, previoufly to the civil wars, had been raifed 
 to 500,000/. a year in confequence of the increafe of commerce, and the 
 additional impofitions which had been laid on by Mary, Elizabeth, and 
 James*' : an account that feems, however, to have been exaggerated. 
 
 But Charles, not fatisfied with exading impofitions, which, though 8. Ship- 
 in fome degree -fanifbioned by cuftom, yet were unqueftionably illegal, '"°"*^' 
 was imprudent enough to attempt to levy a new tax, to which the na- 
 tion had not been accuftomed ; and the illegality of which was, confe- 
 quently, the more apparent. It is faid, that a fpecies of fhip-money 
 was impofed by Elizabeth anno 1588 : but befides that one precedent, 
 particularly in ib arbitrary a reign, is not a fufficient juftihcation ; it is 
 farther to be remarked, that Elizabeth exaded fliips, and not money ; 
 that every exertion was neceflary to oppofe fo deftrudive an invafion as 
 that of the Spaniards ; and that, notwithftanding the danger and urgency 
 of the cafe, fo moderate were her demands, that many of the ports, Lon- 
 don in particular, of their own accord, fent double the number of fhips 
 that were required. 
 
 This monarch's firft attempt to levy fhip-money, was atwo 1626 ; and Fi'i^ffaflion 
 the precedent afibrded in the reign of Elizabeth, was pretty ftridlv money. 
 adhered to ; for the maritime towns only were required to fiirnilh fliips, 
 and the adjacent towns were ordered to aflift in the equipment. Twentv 
 fhips were the proportion of London, and the other towns were rated 
 accordingly". 
 
 *" 16 Car. I. csp. 8. *' Hume, vol. vii. p. 34.0. '- Ibid. vol. vi. p. 22+. 
 
 Y But
 
 i6a HISTORY OF THE PUBLIC REVENUE 
 
 Second ex- But this claim was afterwai"ds carried to a much greater extent. It is 
 Anno 1635. afl'erted, that the fituation of Europe in general, and the rapid increafe 
 of the Dutch republic, in commerce, and in maritime ftrength, and the 
 fuccefsful piracies of the Barbary corfairs, who infefted the very coafts 
 of the kingdom, had rendered it neceflary for Charles to equip a fleet 
 fufficient to fupport the naval dignity of his crown, and the commercial 
 interefts of his kingdom. The only obftacle was the low ftate of his 
 exchequer. 
 
 In this emergency, he applied to Noy, then his attorney-general, a 
 very able lawyer ; whofe advice was, to extend the impofition of fhip- 
 moncy over the whole kingdom ; the crown being entitled, he affirmed, 
 to levy a naval aid for the pubUc defence in time of neceffity '''. But 
 Charles, not fatisfied with this authority, or willing to have it ftrengthened 
 by every means in his power, and anxious to prevent, if poffible, all oppo- 
 fition to fo favourite a meafure, required the opinion of the twelve judges 
 on the cafe, who unanimoufly declared, " That when the good and fafety 
 " of the whole kingdom is concerned, the king might command all his 
 " fubjedls, at their own charge, to provide and furnifli fuch number of 
 " (hips, with men, vidlual, and munition, for fuch time as he thought 
 " fit, for the defence of the kingdom ; and that he was the fole judge 
 " both of the danger, and how the fame is to be prevented '*." It is 
 to be obferved, that this opinion, though generally accounted decifive in 
 favour of the crov/n, yet is very cautioufly worded. It is not ftated, 
 that the king could legally levy money by his own authority : nothing 
 could be railed but fliips, men, vidtuals, and ammunition in kind, nor is 
 any power of converfion infmuated. 
 Hambdei.'s In oppofition to this public declaration of the very judges before whom 
 /W,o 16-7. '^'^ caufe muft be tried, and undifmayed by the power of the crown, 
 which was then fuppoled to be uncontrollable, and which, he knew, 
 would be ftretched to the utmoft, to wreck its vengeance on any one who 
 firft ventured to refift its authority, John Hambden, an Englilhman, equal 
 in zeal, courage, and integrity, to the moft renowned patriots of anti- 
 
 ''^ Noy is faid to have examined, at tliis time, all the precedents of levying money by 
 regal authority ; and hence, it is probable, arofe the fuppofition of his being the author 
 of Cotton's Treatife of the Rights and Revenues of the Crown. He died foon after 
 that ftiip-money began to be levied. <*+ Stevens, p. 277. 
 
 quity.
 
 OF THE BRITISH EMPIRE. 163 
 
 qu'ity, refufed to pay the Inconfiderable fum of twenty fhilUngs at which 
 he was aflfefled, and refolutely determined to hazard any confequences, 
 rather than fiibmit to the impofition. A fuit was inftituted b)' the crown 
 to compel the payment, and the caufe was folemnly argued for twelve 
 days before all the judges of England. Notwithftanduig the convincing 
 arguments urged in his defence ''\ only four of the judges gave an opinion 
 in his favour, whilft eight fupported the legality of the tax. This vic- 
 tory, however, was fo generally odious and unpopular, that it was equi- 
 valent to a defeat. It roufed the indignation of the people at large, and 
 occafioned that firm and fteady oppofition to the meafures of the court, 
 which it afterwards encountered. 
 
 Charles had propofed to the fourth parliament he had affembled, in Abolition of 
 
 . . . . . ftiip-monpy. 
 
 confideration of twelve fubfidies, to agree to the abolition of fhip- 
 money, in any manner it fhould think proper. But the Commons 
 wifely refufed to give the flightefl; countenance to fo illegal an im- 
 pofition ; and one of the firft fteps which the Long Parliament took, 
 was, to vote that fhip-money was arbitrary and illegal. The fentence 
 againft Hambden, alfo, was declared contrary to law. The judges who 
 had given their opinion in favour of fliip-money were impeached, the 
 officers employed in collecting the duty were declared highly culpable, 
 and a law was pafled, by which this obnoxious impoft was for ever 
 abolifhed '*. 
 
 Ship-money was raifed, during the fpace of four years. It was Its produce. 
 computed to yield about 200,000/. a year: confequently, it muft 
 have produced, all together, the fum of 800,000/. 
 
 An attempt was made, during this monarch's reign, not only to 9- Levying 
 maintain a fleet, but alfo to levy, and to fupport an army, without the ^'^^'^*''^' 
 fandion of parliament. Every county in England was ordered to raife 
 a certain number of horfe and foot, and to furnifli a certain number 
 of carriages, at their own charges, for profecuting the war againft the 
 
 " Nothing can be drawn up with more ability, than the general view which Hume has 
 given of the arguments againft Ihip-money, vol. vi. p. 314. See alfo Macaulay, Appendix 
 to vol. ii. 
 
 '" 16 Car, I, cap. 14, 
 
 Y 2 Scots.
 
 ,6+ HISTORY OF THE PUBLIC REVENUE 
 
 Scots'^'. Thei'e military operations were carried on, through the medium 
 of the lords lieutenants, in the different counties, and their condudl was 
 juftified liy I'ome ancient precedents, in times of danger and invafion ; but 
 no exprefs flatute could be produced in fupport of the meafure. It was, 
 therefore, voted illegal by the Long Parliament ; and fuch as had exercifcd 
 any powers of that nature, were declared guilty of delinquency. 
 lo Mono- Charles, not contented with the excrcife of lucrative prerogatives, on 
 
 po''«- ye,-y flencler legal pretences, had alfo, rafliily, endeavoured to raife money 
 
 in oppoiition to the exprefs words, or at leaft, in evident contrariety to 
 the fpirit of a recent ftatute. It has already been obfcrved, that a law 
 was palTed anno 1624, by which all monopolies were- prohibited : but an 
 exception had been admitted in favour of new inventions ; under which 
 flight pretence, the former grievance was renewed, and the kingdom 
 again filled with exclufive patents, to the ruin of induftry and commerce. 
 Not only fait, foap, leather, and other ufeful articles were put under 
 harfh rcftridions ; but grants were made out for gauging red-herrings, 
 for marking butter cafks, and for gathering rags ". The king, afraid 
 of the confequences, or afhamed of having adopted fuch ridiculous ex- 
 pedients for raifing money, abohfhed about thirty of thefe deftrudive 
 patents, when he undertook the firft expedition againft Scotland. But 
 the people were not fatisfied with a partial diminution ; and the long 
 parliament had no fooner affemblcd, than it annulled all the remaining 
 monopolies ; and as a proof of how much they detefted fo illegal a mea- 
 fure, expelled at once fuch of its members as were at all concerned ia 
 them "'. It is fald, that Charles had raifed, by thefe patents, about 
 200,000/. of which (according to Clarendon) fcarcely 1500/. came into 
 the king's coffers. 
 II. Loans. It is natural to conje£lure, that a prince, reduced to fuch neceffities 
 
 as Charles experienced, would purfue the ancient practice of exading 
 compuUive loans from his fubjedls ; and, indeed, as early as the fecond 
 year of his reign, letters, under the privy feal, were fent to the 
 
 ;| •' Hume, vol. vi. p. 372. In Stevens, p. 279. may be feen lifts of the troops, i^c,. 
 
 ''■''' which each county was ordered to furnifh. This author is much puzzled by the different 
 
 lifts of horfes, not adverting, that one lift is, of horfes to mount the cavalry, the other, of 
 horfes to draw the carriages with ammunition, i?V. 
 
 *' Stevens, p. 283, 284. *" Hume, vol. vi. p. 374. 
 
 wealthiefl
 
 OF THE BRITISH EMPIRE. ,65 
 
 wealtTiiefl: perfons In the kingdom, demanding the loan of certain fums, 
 in proportion to their fuppoled ability; and promifing to repay the 
 money that was borrowed, in the fpace of eighteen months '°. About 
 200,000/. was raifed by this unpopular expedient. Jl7ino 1626, the 
 foan of 100,000/. was demanded from the city of London, which it 
 had the fpirit to refufe. Nor did the old plan of a benevolence, at- 
 tempted at the lame time, prove more fuccefsful. But the boldeft 
 meafure of that nature, was the cxading of a general loan. Four fub- 
 fidies, and three fifteenths, had been voted by Charles's fecond parlia- 
 ment. A fudden diffclution, however, prevented the grant from palling 
 into a law ; and the king, inftead of calling a new parliament, refolved 
 to demand thofe very fubfidies from the people under the name of a 
 loan. The mofl: violent and arbitrary meafures were made ufe of to 
 compel the payment. Such as refufed were imprifoned ; were loaded 
 with a number of foldiers illegally quartered upon them ; and by 
 various other oppreflions, were made fenfible of the king's anger and 
 refentment ". 
 
 The partiality of that able hiftorian Hume, in favour of the houfe of jz. Extor- 
 Stuart, is not a little confpicuous, in his calling the mofl illegal extor- "°°*' 
 tions, by the fofter name of irregular levies of money '\ But how- 
 ever acTcs of tyranny may be palliated by ingenious men, yet they will 
 flill appear to the impartial and the unprejudiced, in their real colours. 
 Charles had ventured to threaten the Commons, if he was not 
 furnifhed with fupplies in a legal manner, that he fliould be obliged to 
 try new councils " ; or, in other words, would raife money without their 
 authority ; and a commiflion was iflued accordingly, appointing thirty- 
 three commiffioners to meet, and concert among themfelves, the methods 
 of levying money by taxes, or by other means, " where" (in the words 
 of the commiflion) " form muft be difpenfed with, rather than the 
 " fubftance loft." The intention evidently was, to contrive the means 
 of raifmg money by prerogative alone '*. In confequence of a fpirited 
 
 '° Stevens, p. 274. 
 
 " Many of the 'ower people were compelled to enlift as foldiers, or feamen ; and 
 Glanville, an eminent lawyer, was forced to accept of an ofEce in the navy, for having re- 
 fufed to contribute. Hume, vol. vi. p. 230. 
 
 '» Hume, vol. vi. p. 295. '^ Ibid. p. 241. 248. '♦ Ibid, p. 218 and 257. 
 
 applicatioa
 
 iSG HISTORY OF THE PUBLIC REVENUE 
 
 application from tlie Houfe of Commons, this commiflion was annulled: 
 but it clearly proves in what manner the king would have reigned, had 
 his power been equal to his inclination. 
 
 Though this commiflion was cancelled, yet it did not prevent Charles 
 from purfuing many arbitrary meai'ures, in order to extort money from 
 his fubjeds. Large fees were- annexed to new invented offices. Every 
 county was obliged to maintain a mufter-mafter, appointed by the 
 crown, for exercifmg the militia. The vintners were driven, by the 
 terrors of fines and profecutions, to fubmit to an illegal impofition upon 
 all the wine they retailed. An ancient duty for furnifliing the foldiery 
 with coat and condu£t-money, which had long been abolifhed, was 
 revived. It was intended to coin bafe money, and to circulate it by 
 proclamation. Heavy fines were impofed in the ftar-chamber, and high 
 commiffion courts. Sir David Fowles was fined 5000/. for diffuading 
 a friend from compounding with the commiffioners of knighthood. 
 Thirty thoufand pounds were exaded from thofe who had trefpaffed 
 upon an obfolete law againft converting arable lands into pafture. 
 Encroachments on the king's forefts were puniflied in a fimilar manner. 
 Proclamations were iflued, commanding- the nobility and gentry to retire 
 to their country feats, and not to fpend their time idly in London. 
 If convicted of traufgreffing this arbitrary regulation, they were feverely 
 muldled by the flar-chamber. It was contended, that proclamations 
 had equal authority with laws ; and fuch as ventured to difobey them, 
 were heavily fiped, and, in fome inftances, condemned to the pillory ". 
 In fhort, more tyrannical fteps could hardly be taken by the greateft 
 defoot on earth. 
 
 Of all the unpopular expedients adopted by Charles, to raife money 
 without the confent of parliament, the only one that had any pre- 
 tenfions to legality, was that by which, in imitation of precedents, 
 taken notice of in the former part of this work, perfons poflefled of a 
 certain income, in land, were obliged to receive the order of knight- 
 hood. By a law, pafled in the reign of Edward II., a knight's fee was 
 fixed at twenty pounds a year. In the reign of Henry VI. it was 
 raifed to forty pounds. The law, though not repealed, had not been 
 
 " Hume, vol. vi. p. 296. Macaulay, vol. ii. p. 218. 
 
 enforced
 
 OF THE BRITISH EMPIRE. 167 
 
 enforced for many years, and was almoft forgotten '■. But Charles was 
 refolved to revive any act from which profit might be derived ; and 
 it is faid, that by compounding with fome, and fining others who 
 refufed to appear in obedience to the king's mandate, about 100,000/. 
 was exadted ". It was thought, however, not a little oppreffive, that 
 the great decreafe in the value of money fhould not be confidered, and 
 that thofe poflelfed of fo fmall an income as forty pounds a year, fhould 
 be obliged to accept of an honour they were unable to fupport. The 
 letter of the law might be againft them, but its fpirit was evidently in 
 their favour. 
 
 There is alfo the ftrcngefl reafon to believe, that Charles was deter- Syfiera of 
 rained to take any ftep, that ambition or tyranny could dictate, ra- defpodftn. 
 ther than fubmit to the legal trammels of a limited government. It 
 is known, that a commiflion was granted, and even money remitted to 
 Germany, for the purpofe of raifmg a thoufand horfe, to be trans- 
 ported into England, It is urged, in extenuation, that the number was 
 too fmall for eftablifhing a defpotic government in this country. But 
 though the force was apparently trifling, yet the king might eafily have 
 added a formidable body of foot to thefe foreign mercenaries ; and thus 
 have been enabled to levy thofe excifes, and other taxes, which, it is 
 Hiid, he intended to impofe by his own authority '\ This dangerous 
 meafure was prevented by the interpofitlon of parliament. 
 
 It is hardly to be difputed, that Charles might have got over all his Amoant of 
 difficulties, if it had not been for the war he ralhly entered into vv'ith " "revenue.- 
 his fubjedts in Scotland. It appears, that his revenue, from 1637, to 
 1641 inclufive, amounted, communibus ami'ts, to 895,819/. ^s. of which, 
 however, 210,493/. ^7^- 4"^' arofe from fhip-money, and other illegal 
 exadlions ". But, on the whole, it was fully adequate to the ordinary 
 expences of the crown, though it could not defray the charges of war, 
 and other burthenfome contingencies. 
 
 When the fatal conteft, between the king and his parliament, was at Supplies 
 laft brought to the decifion of the fword, he found the utmofl difficulty ^S="."'^ 
 in providing refources for the maintenance of his forces. The capital, 
 
 1^ Naunton's Fragmenta Regalia, p. 4. '' Stevens, p. 275. 
 
 ", Rufli. vol. i. p. 612. '' Comm, Journ. vol. viii. p. 15c.- 
 
 II and
 
 ,68 HISTORY OF THE PUBLIC REVENUE 
 
 and the wealthiefl part of the kingdom, fupported the parliament ; and 
 the only money that he could raife, was by pawning the jewels of the 
 crown ; by melting down the plate of the two univerfities, which they 
 generoufly fent him ; and afterwards' by imitating the example of his 
 opponents in levying afleffments, and even excifes, in thofe diftritts 
 where his authority was acknowledged. But the voluntary contribu- 
 tions of thofe who adhered to the crown were his principal refource. 
 It is laid, that the marquis of Worcefter alone, fupplied the king with 
 100,000/. ; and the exertions of the marquis of Newcaftle, who de- 
 voted his whole fortune to the fupport of the royal caufe, were no lefs 
 remarkable ". 
 
 Tax on cards. Among the odier taxes, contrived by this monarch, one deferves to 
 be mentioned on account of its fmgularity, namely, a tax upon cards. 
 ' Every pack was ordered to be fealed^ by an officer appointed for that 
 purpofe, previoufly to its being fold. The tax was far from being high, 
 nor was it in itfelf exceptionable j but it met with fome oppofition on 
 account of its illegality ". 
 
 Coin. The additional quantity of fpecie coined during the reign of Charles, 
 
 when compared to that of his immediate prcdeceffors, is a ftrong proof 
 how rapidly the wealth and comm.erce of England were increafmg. It 
 is computed by Folkes, that during his reign 12,096,220/. fterllng was 
 coined in gold and filver ; a greater fum than during the two reigns of 
 James and Elizabeth. But authors have, in general, omitted to remark, 
 that Spain fent confidevable quantities of bullion to be coined in our 
 mint, which was afterwards carried to Flanders ; and the property of 
 which did not belong to the natives of this country. They had only 
 the profit of the coinage, and the benefit of the tranfportation '*. 
 
 Petition of This reign is diftinguiflied by the famous petition of rights having 
 
 "^'^'' pafled into a law ; the objedl: of which was to procure a full confirma- 
 
 tion' of the mod important privileges of the nation. Among the other 
 articles which it contained, fome of which are of fuch moment a« to 
 have produced almoil: a total revolution in the nr.ture of our government; 
 there is one claufe by which it. is particularly declared, " that no gift, 
 
 'o Stevens, p. 288. '' Riifh. vol. ii. p. 103. 
 
 ■" Walker's Ilift. Independ. partii. p. 193. 
 
 " loan.
 
 f 
 
 OF THE BRITISH EMPIRE. i6g 
 
 " loan, benevolence, tax, or flich like charge, fhall be exadled without 
 " common confent, by aCt of parliament *\" Since this valuable 
 ftatute was enaded, thefe ancient modes of extortion have never beea 
 revived. 
 
 The fatal cataftrophe of this monarch's reign, is too well known to Reflection, 
 require being mentioned. In juftlce, however, to Charles, it may be 
 remarked, that it was natural for a prince, like him, educated with 
 high notions of the inherent prerogatives of the crown, fupported by 
 the example of his predeceflbrs, and ignorant that a monarchy could 
 exift under fuch limitations as parliament wiflied to eftablifli, gradu- 
 ally to fall into that train of condud which he unfortunately purfued. 
 Indeed, when once fufpicions and jealoufies arlfe, it is impoffible to 
 fay, to what lengths the moft refpedable characters may be hurried, 
 amidft the heat of party, and the ardour of inteftine violence. On 
 the other hand, it is equally neceflary to obferve, in behalf of thofe II- 
 luftrlous patriots, who firft refilled the exorbitant claims of the crown^ 
 that whilft a Pym, a Hambden, and an Effex, conduded the oppofi- 
 tion in parliament, though they demanded rather rafli concefTions, yet 
 that they ftill had the eftablifhment of a limited monarchy in view. 
 The fide to which they leaned, that of liberty, was founded on the moft 
 noble, and the moft generous principles. They knew well, that ad- 
 vantage muft be taken of the exifting circumftances in their favour ; that 
 fuch another opportunity might never again recur ; and that the crown 
 ftood a better chance of adding to its prerogative, than the people to 
 their privileges. As to the violences of an after-period, the trial of the 
 king, his condemnation and death, and the eftablifhment of military 
 defpotifm under Cromwell, they took place when thefe patriots were 
 no more ; when civil government was at an end, and when England 
 lay at the mercy of an ignorant, fanatical, and defperate foldiery, 
 headed by a daring, artful, and profligate ufurper. 
 
 The Commonwealth. 
 
 Under this general name, it is propofed to comprehend the various 
 republican and military fyftems of government, which took place from 
 
 '3 17 Car. I. cap. 41. 
 
 Z the
 
 ,70 HISTORY OF THE PUBLIC REVENUE 
 
 the commencement of the civil war to the reftoration : An sera, during 
 which the public expences were very great, and indifputably fuperior 
 to thofe of any former period in our hiftory. Even before the war 
 broke out, parliament found it neceffary to provide a confiderable fupply 
 for difbanding the troops which the king had raifed for the reduction 
 of Scotland; and to vote 850/. a day, for the fubiiftence of the Scotch 
 army, to prevent its plundering the northern counties of England, of 
 which it was then in pofleffion. Three hundred thoufand pounds alfo 
 were granted to the Scots, as a reward for their brotherly affiftance '*. 
 But thefe were inconfiderable fums, when compared to the heavy 
 charges which were afterwards incuri'ed. 
 
 Expences. 
 
 It is a faying attributed to Milton, that, as a republic was the leaft 
 expenfive, it was confequently the befl of governments ; nay, that the 
 trappings of monarchy would defray all the charges of an ordinary com- 
 monwealth. The hiftory of the republic of England does by no means 
 juftify this obfervation. 
 
 It is not propofed, however, minutely to inveftigate the expences in- 
 curred during the time of the commonwealth : for, it is impoffible now 
 to make up an accurate ftatement of them, in confequence of the great 
 fluctuation and inftability of government, and of the frauds pradtifed 
 by thofe to whom the cuftody of the public money was committed. It 
 will be fufficient to remark in general, that the tedious and bloody 
 conteft which parliament carried on againft the crown, was attended 
 with charges, perpetually increafmg, in proportion as the armies became 
 more numerous, and hoftilities were more extended : That confiderable 
 expences were incurred by the republic, before the redudion of Ire- 
 land was accompliflied, and before Scotland (where, after the death of 
 his father, Charles II. was proclaimed king) could be finally fubdued : 
 That fuccefsful wars were carried on againft the Dutch, who were 
 obliged to crouch under the fuperior ftrength and vigour of the new 
 republic ; and againft the enfeebled monarchy of Spain, from whom 
 
 ** Macaulay, vol. iii, p. 22. 
 
 two
 
 OF THE BRITISH EMPIRE. 171 
 
 two important pofleflions, Jamaica and Dunkirk, were conquered dur- 
 ing the adminiftration of Cromwell : And that, even in time of peace, 
 a formidable fleet, and a numerous army, were maintained, to fupport 
 the authority of the new government at home, and to render it more 
 refpedable abroad. But all thefe fervices, however extenfive and im- 
 portant, could not have exhaufted the immenfe treafures, which, from 
 various fources, flowed into the coffers of the republic. 
 
 Refources, 
 
 When the long parliament aflembled, no idea was entertained of the 
 bloody and deftrudtive difliurbances which afterwards took place. It 
 proceeded, therefore, to levy money conformably to ancient ufage ; 
 and, inftead of afleffments, and other modes of cxadion afterwards 
 pradifed, fix fijbfidies, and a poll-tax equal to as many more, were 
 granted, for difbanding the Englifli and Scotch armies, who then raged 
 in the very bowels of the kingdom. The produce of thefe grants, how- 
 ever (for they were given at different times), was not confided to the 
 treafury, but was ordered to be paid to parliamentary commiflionera 
 appointed for that fpecial purpofe. 
 
 It was foon difcovered, that the difputes between the crown and Voluntary 
 
 contribu- 
 
 parliament had been carried to fuch a height, that they mufl un* tions. 
 avoidably proceed to fome fatal extremities ; and at the commencement 
 of the civil war, the condudt of the parliament was fo popular, and it 
 was held in fuch high eftimation by the public, that incredible fums of 
 money were raifed by voluntary contribution. The plate of almoft 
 every inhabitant in London was brought in, to be coined for its fup- 
 port : no article, however mean, no ornament, however valuable, was 
 fpared. The very thimbles and bodkins of the women were not with- 
 held : every one was anxious to maintain the caufe of the godly 
 againfl: the king and the malignants '^ 
 
 But it was impoflible, that an expenfive war could be long fupported L"*^ '"• 
 upon fo flender a foundation, as the temporary fervour of the people. 
 
 *5 Hume, vol. vi. p. 539, 540. 
 
 Z 2 The
 
 J72 HISTORY OF THE PUBLIC REVENUE 
 
 The parliament therefore refolved, in order to provide for the better 
 fubfiftence of their forces, to levy affefTments on the perfonal and landed 
 property of the people. Thefe afleffments varied, according to the 
 exigencies of the times, from 35,000/. to 120,000/. a month. They 
 ■were found fo produdive, and in every refpecSl fo much fuperior to 
 the ancient mode of fubfidies, that under the denomination of a land- 
 tax, they have fmce formed a very confiderable branch of the public 
 revenue. 
 
 Weekly But armies mufl: be recruited as vfdl as raifed ; and for that purpofe, 
 
 a very fingular impoft, fiiited to the fpirit of the times, was laid on by 
 the parliament. Every perfon was obliged to retrench a meal a week^ 
 and to pay the money thereby faved into the public treafury. This 
 whimfical tax produced 608,400/. in the fix years during which it was 
 impofed '\ 
 
 Excife. To the long parliament we owe the firft eftablifliment of excifes in 
 
 this country. It is fuppofed that the famous Pym was the perfou by 
 whom the plan was originally propofed. It was at firft laid upon liquors 
 only ; and it was folemnly declared, that, at the end of the war, all 
 excifes fhould be abolifhed. But the conteft continuing longer than 
 was expefted, this obnoxious mode of levying money was extended to 
 bread, meat, fait, and many other neceffary articles. The excife oa 
 bread and meat was afterwards repealed ". 
 
 Cuftoms. In the time of the commonwealth, confiderable additions were made 
 
 to the revenue of the cuftoms, by duties upon coals and currants. 
 Four {hillings a chaldron upon coals, levied at Newcaftle, brought in 
 about 50,000/." The cuftoms and excife, notwithftanding the deftruc- 
 tion with which civil wars are neceflarily accompanied, had become fo 
 productive, that Cromwell, a/mo 1657, ^^^ offered l,ico,ooo/. a year 
 for a leafe of both the branches. 
 
 Poft ofSce. The eftablifhment of a poft office, upon a produdive and permanent 
 
 footing, was principally owing to the long parliament. By their atten- 
 tion, and the wifdom of their regulations, it not only yielded 10,000/. 
 per annum, but alfo faved an annual expence of 7000./. which the public 
 
 «' Stevens, p. 290. 
 
 " Walker's Hift. Prof. p. 8. partii. p. 193. 247. Black, vol. i. p. 318. 319, 320. 
 
 •' Walker's Hiit. partii. p. 150. 
 
 was
 
 OF THE BRITISH EMPIRE. 
 
 ^73 
 
 was obliged to pay for the maintenance of poftmafters. It is fingular, 
 that the fuccefs with which this mercantile project has been attended, 
 fhould not have encouraged the public to engage in other plans of a 
 limilar nature. 
 
 "When the parliament took the entire government of the country into Feudal pre- 
 their own hands, care was taken to fequefter the public revenue, and ^°^* '^*^* 
 to appropriate it to their own purpofes : nay, the profits of wardfhip, 
 fines of alienation, and other feudal prerogatives, though fuppofed to 
 be infeparably annexed to the crown, were rigoroufly exadled. Pur- 
 veyance alone was given up, a ufelefs privilege for a republic, and fo 
 generally obnoxious, that Charles II. was obliged to abandon it, after the 
 reftoration. 
 
 In the reign of James I. a patent had been granted by the crown for wine 
 the fole licenfing of inns and alehoufes. But in confequence of the '"■*"''' 
 fpirited interpofition of parliament, this monopoly had been annulled. 
 It was not, however, the propriety of the tax, but the legality of the 
 impofition, with which the Commons were dilllitisfied. Accordingly, it 
 was one of the new duties which it refolved to impofe. The tax, 
 it was imagined, would not only prove productive in refpedl to income, 
 but would alfo operate as a neceflary regulation of the police ; by pre- 
 venting improper perfons from keeping houfes open for the reception 
 of the public. 
 
 The mofl popular of all the modes which parliament purfued for 
 raifmg money, was that of fequeftrating the income of certain lucrative 
 offices, and applying the produce for the fervice of the public. It is not 
 known what particular offices were thus appropriated ; but it appears, 
 that in the fpace of fifteen years, they yielded 850,000/.: confequently, 
 their value muft have amounted to about 56,666 /. per annum. 
 
 The value of the royal domains, as well as of the eftates of indivi- 
 duals, was not a little diminifhed, by fo long and deftrudlive a conteft : 
 and yet parliament, either driven to it by its neceffities, or defirous of 
 abolifhing every veftige of monarchy, and in hopes that it would never 
 be re-eftablifhed, difpofed of all the crown-lands and eflates belonging 
 to the principality of Wales, at the rate of ten years purchafe. Nay, 
 the houfes, furniture, and other perfonal effetSts belonging to the king, 
 
 v\rere 
 
 Public of- 
 fices. 
 
 Crown 
 
 lands.
 
 174 HISTORY OF THE PUBLIC REVENUE 
 
 were fold at very moderate prices. But the reftoration of the royal 
 family made thefe bargains dearer than was expedted. 
 
 Church The adtive part which the bifhops, and the clergy in general took 
 
 in fupport of the royal caufe, naturally drew upon them the indigna- 
 tion of the oppofite party, and rendered their property not a little 
 infecure when the parliament became fuccefsful ". But the fyflem of 
 diminifliing the opulence of the church, was carried to much greater 
 lengths than had ever been apprehended. Not only the lands of the 
 bifliops, and of the deans and chapters, but even the redtory and glebe 
 lands were fold, fome at ten, and others at twelve years purchafe. 
 The tythes alfo were fequeftrated for the ufe of the ftate " ; and, inftead 
 of fettled minifters, fome wild enthufiafts propofed to have ledlurers, 
 wandering about the country, in the primitive manner of the apoftolic 
 times, whofe falaries would prove but little burthenfome to the public 
 exchequer. 
 
 Plunder of The vidorious party, as is ufual in civil wars, adopted every means 
 
 t ero;'a i s, .^^ their power to diminifh the wealth, and to punifli the fuppofed guilt 
 and offences of their adverfaries. The prifoners they took, if par- 
 ticularly obnoxious, were put to death ; if otherwife, were obliged to 
 pay heavy ranfoms for obtaining their liberty. It is faid, that under 
 colour of malignancy, about one-half of the perfonal, as well as landed 
 property of the kingdom was fequeftrated, and either fold at low prices 
 to the friends of thofe who were in power, or heavy compofitions were 
 demanded, if reftored to the original proprietors '". Compulfive loans 
 were alfo exadled from heart malig/iants^ or perfons fufpedted of fecretly 
 favouring the royal caufe. Indeed, the miferable individuals who were 
 comprehended in that defcription, were compelled to furnifli fuch fums 
 of money, by way of loan, as were oftefn attended with utter ruin to 
 themfelves and their families. 
 
 Extortions. Under fo military and tyrannical a government, a variety of oppref- 
 
 ■five exadtions muft neceffarily have taken place. Among many others, 
 
 *' On the 3d of April 1650, a commilTion was iflued, to enquire upon oath, into the 
 number and yearly value of all redories, vicarages, ^c. purfuant to an aiS made June 8, 
 1649. The originals are faid to have been burned; but there is one copy in th« Rolls 
 chapel, and another at the archbiftiop's library at Lambeth, in eighteen thick folio 
 Tolumes. Hutchins's Dorfetfhire, Introd. p. 39. 
 
 »' Walker's Hift. part ii. p. 19S. " Hume, vol. vii. p. 93. 
 
 2 that
 
 OF THE BRITISH EMPIRE. 175 
 
 that of free quarter was particularly complained of. The foldiers were 
 billeted upon private houfes ; paid nothing for their maintenance ; were 
 fpies upon the adions of thofe upon whom they were quartered ; and 
 though guilty of the mod (hocking abufes, their crimes were only fub- 
 je£l to the cognizance of their own officers ; no civil court, or magiftrate, 
 daring to interfere^'. But when Cromwell afTumed the government of 
 the ftate, a general fyftem of oppreffion was for fome time put in 
 pradice "". The whole kingdom was divided into twelve diftrldls, 
 each of which was entrufted to the care of a major general, who was 
 empowered to levy any tax the Protedor thought proper to impofe. 
 An edidt was iffiaed, commanding the exa6lion of the tenth penny from 
 all the royal party ; and this oppreffive tax, known by the name of 
 decimation ^^, Cromwell's military fubftitutes very rigoroufly enforced. 
 The whole country was expofed to their extortions ; hardly any diftlnc- 
 tion was made ; nor were the firmeft friends to the exifting government 
 always exempted. 
 
 The regular and permanent income of England, during the adml- Amount of 
 niftratlon of Cromwell, was about 1,517,274/. lys. id. Scotland, manent in- 
 then fubjed to the fame government, yielded 143,652/. iij-, u^/, ; ""'^" 
 and Ireland 207,790/. making, in all, the fum of 1,868,719/. 9^.*' 
 But If all the exadions which were extorted from the people at that 
 time are accumulated, they amount to a fum almoft incredible. It 
 is afferted, in a treatife, printed anno 1647, ^^^^ '^^ fou^ years, 
 17,512,400/. or about 4,378,100/. per annum were raifed °*. Walker 
 aflerts, that in five years, forty millions had been colleded " ; but this 
 feems to be a confiderable exaggeration *^ The following account con- 
 tains as full a ftatement of the money levied, during this whole period, 
 as can now be procured. 
 
 90 Walker's Hift. part i, p. 65, 66, 67. 9' Hume, vol. vii. p. 244. 
 
 9^ Walker's Hift. part iv. p. 27. '^ Comm. Journ. vol. vii. p. 627, ^c. 
 
 '* London's account, or a calculation of the arbitrary taxations within the lines of 
 communication, during four years of the war, printed anno 1647. 95 Hift. p. 8. 
 
 9' It is a ftrong proof of Walker's exaggeration, that the author of the treatife above- 
 mentioned (called London's Account), who makes out his calculations in the moft un- 
 favourable manner to the parliament, ihould ftate the firft four years at only feventeen 
 millionSi 
 
 ABSTRACT
 
 176 HISTORY OF THE PUBLIC REVENUE 
 
 ABSTRACT of the Money raifed In England from Nov. 3, 1640, 
 
 to Nov. 5, 1659. 
 
 Six fubfidies, at 50,000 /. each — _ — ^^ 300,000 
 
 Poll money and afleflments, to difband the Scotch and Englifli armies 800,000 
 
 Voluntary contributions for the fupport of the good caufe againft malignants 300,000 
 
 Ditto, for the relief of the Irifh proteftants — — 180,000 
 
 Land-tax, or various afleflments, for the maintenance of the army 32,172,321 
 
 Excife for fixteen years, at 500,000/. per annum — 8,000,000 
 
 Tunnage and poundage for 19 years, at 400,000/. a year — 7,^00,000 
 
 Duty on coals — — __ — 850,000 
 
 Ditto, on currants __ — — 51,000 
 
 Poftage of letters — — — — 301,000 
 
 Weekly meal for fix years — — — 608,400 
 
 Court of wards, and other feudal prerogatives — — 1,400,000 
 
 Wine licences — — — — 312,200 
 
 Vintner's delinquency — — — — 4,000 
 
 Offices fequefl:ered for the public fervice —— — 850,000 
 Sequefl:rations of the lands of bifhops, deans, and inferior clergy, for four 
 
 years — — — — 3'S28,632 
 
 Tenths of all the clergy, and other exadions from the church — 1,600,320 
 
 Sale of church lands — — — 10,035,663 
 
 Fee farm rents for twelve years — — — 2,963,176 
 
 Other rents belonging to the crown, and the principality of Wales 376,000 
 
 Sale of the crown lands and principality (120,000/. per annum) 1,200,000 
 
 Ditto of foreft lands and houfes, &c. belonging to the king — 656,000 
 Sequeftrations of the eflates and compofitions with private individuals in 
 
 England — — — — 4,564,986 
 
 Compofitions with delinquents in Ireland — — 1,000,000 
 
 Sale of the eftates of delinquents in England — — 2,245,000 
 
 Ditto of irifli lands — — — — 1,322,500 
 
 Ranfom of captives — — — — 102,000 
 
 New River water — — — 8,000 
 
 ;^83,33r,i98 
 
 In the account which Stevens gives us of the money raifed during this period, there feems to 
 be a variety of miftakes. He ftates the fix fubfidies at 600,000/., though they only produced 
 300,000/. See Walker, p. 7. Tunnage and poundage he calculates only at the rate of 
 300,000/. a year, though it often exceeded 500,000/., and, at a medium, mull have been 
 400,000/. ;. and in the whole account, there is a ftrange confufion betaeen income and ex- 
 pences. Thus there is ftated, in ths account of the money raifed, the charge of juftice, and 
 the fums voted to the members of the houfe, and given them by way of free-gift. The firft 
 voluntary contribution (omitted by Stevens) is put down only at 300,000/., though probably 
 more produdive. 
 
 This
 
 OF THE BRITISH EMPIRE. 177 
 
 This IS the beft information which it Is at prefent poffiblc to obtain 
 with regard to the money levied in the time of the commonwealth : 
 from which It appears, that during the fhort period of nineteen years, 
 above eighty mllUons muft have been raifed, and confequently, one year 
 with another, about 4,385,850/. per annum : but a confiderable part of 
 that immenfe treafure was either lavlihed by parliament upon its own 
 members, or was fraudulently embezzled. 
 
 By the old law of parliament, every member was entitled to receive Ponfions aad 
 wages, from the place he reprefented, to defray the charges of his jour- ^' '^* 
 ney, and the expences Incurred during his refidence in the capital. 
 But the members of the long parliament, when It affumed the go- 
 vernment of the country, Inftead of applying to their i-efpedive con- 
 flituents, voted to each inember, for his own private ufe, at firil four 
 pounds a week, and afterv^^ards, it Is faid, diftributed among them- 
 felves, out of the public treafury, about 300,000 /. a year ". Nay, 
 under the pretence of rewarding the godly for their fervices in the 
 good caufe, unbounded largelles were beftowed. Lenthal, the fpeaker, 
 received 6000 /. at once, befides offices to the amount of 7,730 /. a 
 year. Bradfhaw, prefident of the high court of juftice, by whom the 
 king was condemned, had the prefent of an eftate worth 1000/ a 
 year, and the king's houfe at Eltham, for the aclive part he took In that 
 memorable tranfaftion ; and in free gifts to the faints, the fum of 
 679,800/. was publicly expended'''. 
 
 The parliament is alfo accufed of fufferlng the mod: enormous frauds Public frauds. 
 to be perpetrated with impunity. Inftead of the public accounts being 
 examined at the Exchequer, where peculation could with difficulty 
 efcape dete£tIon, every branch of the revenue, and every article of ex- 
 pence, was intrufted to committees of the houfe, who appropriated 
 whatever fum they thought proper to their own private ufe''. By 
 thefe frauds, the parliament was difabled from paying the army regu- 
 larly. Its arrears amounted to 331,000/., and that mutiny, which 
 proved the principal fource of Cromwell's exaltation, was owing to the 
 
 " Walker's Hift. Pref. p. 3, 
 
 '^ Ibid, part ii. p. 151. 252. Parti, p. 143. 149. 166, 16], 168, 165, 170, See. 
 and part ii. p. 192. ao6. 2C9. 248. Stevens, p. 294. i 
 
 '■'^ Hume, vol. vii. p. 92. 
 
 A a indignation
 
 X73 HISTORY OF THE PUBLIC REVENUE 
 
 indignation with which the troops faw the members of the houfe of 
 commons rioting in wealth, procured by public plunder, whilft they, 
 who had fought their b^.ttles, could hardly j^rovide themfelves with fub- 
 fiftence. They loudly complained, " that parliament bellowed upon 
 " its own members looo/. a week out of the public treafury, whilft 
 " the foldiers wants were great, and the people in the utmoft ne- 
 « ceflity'°°." 
 Secret intel- We are told that Cromwell expended 60,000/. a year in procuring in- 
 ligence. telligence ; a circumftance which has been greatly celebrated, and con- 
 
 tributed much to the charafler he has obtained for political ability : but 
 it is highly probable that he fpent more in procuring perfonal than pub- 
 lic intelligence. Indeed, furrounded as he was with many powerful 
 and dcfperate enemies, fuch arts were the only means by which his 
 fafcty could in any degree be fecured. 
 Debts of the It is faid, that the parliament left about 500,000/. in the treafury,. 
 "^" ''■ and ftores to the value of 700,000/., when its authority w^as abolilhed 
 by Cromwell ; and yet fuch was the expence of his adminiftration, that 
 he died indebted to the amount of 2,474,290/. It principally, how- 
 ever, confifted in arrears to the army and navy, and therefore was paid 
 even after the reftoration. 
 General fur- During Cromwell's adminiftration, it was propofed to take a gcne- 
 **^" ral furvey of the v;hole kingdom, in imitation of that taken in the 
 
 reign of Henry VIII. It was begun in London, and the neighbour- 
 hood, and certain committees were appointed, to inquire upon oath^ and 
 certify the improved value of every mans eflatCy both real and perfonal '"". 
 But the attempt was, after all, given up: indeed, when thofe who were 
 in power exadled what money they thought proper under any pretence, 
 however frivolous, as delinquency, malignancy, &c. it was unneceflliry 
 to be at the trouble of inveftigating the wealth and ability of indivi- 
 duals, for the fake of any regular fyftem of taxation. 
 
 '«> Walker's Hifl. part il. p. 109. '"' Ibid, part ii. p. 185. 
 
 9 CHARLES
 
 OF THE BRITISH EMPIRE. 1^9 
 
 CHARLES II. 
 
 The reftoration, however pafTionately defired by the people, and 
 though, on the whole, attended with confiderable advantages to the pub- 
 lic, from the re-eftablifhment of the ancient conftitution, and the de- 
 flrudlion of anarchy and mijitary ufurpation, was neverthelefs far from 
 being accompanied with all thofe beneficial confequences that might na- 
 turally have been expected. The diflblute charader of Charles II., the 
 bigotry of his brother James, by whofe advice public affairs were prin- 
 cipally conduced, and the jealoufy.of fuch as were ftill tindtured with 
 republican principles, which led them to view every meafure of the 
 court with fufpicion and difguft, rendered the greater part of his reign 
 neither happy at home nor honourable abroad. But the conclufion of 
 it, when he fubmitted to be the tool of Lewis XIV., when he deter- 
 mined to govern without affembling any parliament, and when it be- 
 came the do6trine of the court that it was better for a king of Eng- 
 land to be the penfioner of France than controlled by five hundred of 
 his own infolent fubjeds, bore but little refemblance indeed, to the 
 legal adminiftration of the limited fovereign of a free people. 
 
 The materials with which we are furnilhed by hiftorians, and by the 
 public records, with refped to this monarch's income and expenditure, 
 are fo numerous, that it is difficult to give a concifc, and at the fame 
 time an accurate view of the fubjed. 
 
 Expences. 
 
 The expences he incurred were either permanent or incidental. 
 
 During the reign of Charles, we firft perceive what may be called a 1. Permanent 
 legal and regular peace eflabliihment. It began during the ufurpation, ^'^T^""'* 
 and ever fmce the refloration it has been thought neceflary to provide, 
 even in time of peace, for the national protedion and defence ; and hence , 
 have arlfen permanent, naval, military, and ordnance expences. 
 
 The navy, at this period, required about 300,000 /. a year, exclufively The navy, 
 of the fums laid out in time of war, and occafional grants" from parlia- 
 ment. But this, though a confiderable part of Charles's revenue, was 
 
 A a 2 hardly
 
 ,8o HISTORY OF THE PUBLIC REVENUE 
 
 liardly fufficient to preferve that iuperiority in maritime power, which 
 Britain ought ever to maintain. The ftrength of Holland, at fea, was 
 nearly equal ; and that ambitious nionarch Lewis XIV. exerted all the 
 abilities of his ftatefmen, and all the wealth of his fubjedts, in attempt- 
 ing to raife a navy adequate to the fupport of his proud and lofty pre- 
 tenfions to the. univerfal monarchy of Europe. 
 
 Army. Charlcs was the firft king of England who kept up any body of 
 
 troops in time of peace. Before his reign, the fovcreigns of this 
 country, confiding in the affedions and native valour of their people, 
 maintained no (landing forces, and neither had guards to attend them 
 in their progrefs, nor to ftand as centincls at their gates. This altera- 
 tion in our domeftic oeconomy has often been condemned ; and yeC 
 the conduct of other powers, in keeping up formidable bodies of ex- 
 perienced veterans, rendered it to a certain degree indifpenfably necef- 
 farv. The annual expence of this monarch, for guards and garrifons, 
 amounted to about 202,000/. and the number of his troops varied 
 from four to eight thoufand men. Even that fmall body excited the 
 fufpicion and jealoufy of the public ; and, by a vote of the houfe of 
 commons, anno 1679, was declared contrary to law '". 
 
 Ordnance. The ordnance, including ordinary and extraordinary expences,. 
 
 amounted only to about 40,000 /. a year : a very moderate charge, 
 when compared to modern eflimates : but it was then imagined, that 
 fortifications were unneceflTary in England ; nor had the artillery be- 
 come fo important a branch of the military department. 
 
 Civil Kft. The nature and amount of the civil lift, and of the other expences 
 
 of the crown, during this reign, are fo clearly illuftrated by the fol- 
 lowing ftate of its propofed expenditure for the year 1676, that any 
 farther explanation feems to be unneceflary. 
 
 •"* Hume, vol. viii, p. loS. 
 
 Expeaces
 
 OF THE BRITISH EMPIRE. 
 
 ifi 
 
 Expences of the Crown for one year, as allotted by the Council, 
 
 January 26, 1675-6. 
 
 Houfehold — . _ __ 
 
 Buildings and repairs _ _^ __ 
 
 Privy purfe — — , __ 
 
 For the queen — — __ 
 
 Public intelligence — — _ 
 
 Treafurer of the chamber — — . 
 
 Great wardrobe — __ 
 
 Band of penfioners — _ _i_ 
 
 Robes — _ — _ 
 
 Jewel office — — _.__ 
 
 PenCons, including the queen*s mother, Duke of York, Sec. 
 AmbafTadors — — — _ 
 
 Judges, mafters in Chancery, &c. — — 
 
 Mafter of the horfe — — — 
 
 Cafual difburfements — — .— 
 
 Hawks, harriers tents, tails, &c. — — »- — 
 
 Secret fervice money — — _ 
 
 New years gifts — — « -_ 
 
 Tower expences for prifoners — 
 
 Management of e^ccife and cuftoms —■ — 
 
 Angel gold for healing medals _ — « _ 
 
 Liberates out of the Exchequer — — 
 
 Peace Eftablifhment. 
 
 Navy 
 Army 
 Ordnance 
 
 •— ;CS2>247 
 
 -— 1O5O00 
 
 — 36,000 
 
 — 23,000 
 
 — 5,000 
 
 — 20,000- 
 
 — 16,000 
 
 — 3,000 
 
 — 4,000 
 
 — 4,000 
 
 — 87,000 
 
 — 40,000 
 
 — 49,000 
 
 — 10,000 
 
 — 10,000 
 
 — 1,500 
 
 — 20,000 
 
 — 3>6oo 
 — 768 
 
 — 63,500 
 ~- 2,000 
 
 — r,5oo 
 
 ;C 462,115 
 
 ;^300,ooo > 
 
 212,000^552,000 
 40,000 J 
 
 Garrifon of Tangier 
 Interefl of the king's debts 
 
 Mlfcellaneous Expences* 
 
 XijOi4,ii5 
 
 57»2oa 
 100,000 
 
 It IS probable, however, that the permanertt expences of government 
 were in general more confiderable j for previous allotments, ftriit 
 
 computationfji.
 
 i84i 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 2. Inridental 
 expunces. 
 
 Txperccs on 
 the fcCora- 
 
 Cioa. 
 
 Debts of the 
 crown. 
 
 computations, and plaufible eftimates, can hardly ever be rigidly ad- 
 hered to. 
 
 The parliament, foon after the reftoration, had voted the king a re- 
 venue of 1,200,000/. a year'"'. But that fum, which would have de- 
 frayed the ordinary expences of the crown, was never fully made up : 
 nor were its deficiencies compenllited by new and additional fupplies. 
 The king, at the fame time, incurred many temporary and incidental 
 expences of fo heavy a nature that he was kept in perpetual diftrefs. 
 
 At the conclufion of the civil war, every veftige of royalty had 
 been annihilated. The king's palaces and furniture had been fold ; the 
 jewels of the crown had been difpofedof; and every meafure had been 
 taken, as if monarchy were never again to be the eftabliflied government 
 •of England. Parliament, therefore, was obliged to grant confiderable 
 fmns to defray the expences of the coronation, and to make up for thofc 
 heavy loffes which the crown had fuftained. By two different adts, 
 140,000/. were raifed and appropriated to thefe purpofes '°* : and af- 
 terwards, a free and voluntary prcfent was given to his majefty, the 
 produce of which is unknown "". 
 
 Debts to a large amount were certainly contraded by the king, dur- 
 ing his refidence on the continent, and by his father, during the courfe 
 of the civil war ; both of which it was incumbent on this monarch to 
 difcharge. But, above all, Charles owed a debt of gratitude to the un- 
 happy cavaliers who had ruined themfelves by their exertions in the 
 royal caufe, which it was hardly poffible, with a fmall revenue, fully to 
 difcharge. But he ought furejy to have fubjeded himfelf to any pecu- 
 niary difficulties, rather than to have fuffered fo many zealous friends to 
 continue in fuch diftrefs. Parliament voted 60,000/. to be diftributed 
 among that unfortunate defcription of men "* ; and this was the princi- 
 pal recompence they rd:eived for their loyalty and fervices. Some atten- 
 tion alfo was paid to thofe who had materially contributed to the king's 
 prefervaticn after the battle of Worcefter ; and Charles fometimes could 
 not refift the accounts he received of their calamitous fituation, but oc- 
 cafionally fupplied them with what m.oney he could poffibly fpare, from 
 the rapacity of his courtiers. 
 
 »»' Comm. Journ. vol. viii. p. 150. 
 "' 13 Car. II. c. 13. 
 
 •"♦ 12 Car. II. c. 21. 29. 
 •°^' Ibid. c. 13, 14. 
 
 One
 
 OF THE BRITISH EMPIRE. i% 
 
 One of the firft and moft neceffary fteps after the reftoration, was Difbanding 
 the dilhanding of the republican army, which had occafioned fo many ^^^ ^'^"'^' 
 revoUitions, and had been fo much inured to rapine and flaughter^ 
 The expence of this meafure was confiderable ; for it was requifite to 
 pay up their arrears, and other legal demands, previoufly to their dif^ 
 miffion. It is faid that the king, when he reviewed this formidable 
 body, before it was difbanded, could not avoid expreffing his wiflies to 
 retain them in his pay; and nothing but Clarendon's weight and' influ- 
 ence could have prevented his attempting, by fome evafion or other, to 
 have continued them in his fervice. 
 
 The fortrefs of Tangiers in Africa, was included in the dowry which Tanglers;- 
 Charles received with Catharine of Portugal : and the pofieflion of it 
 was fuppcfed to be of confiderable ufe in protetfting our trade to the 
 Mediterranean. Great fums of money, therefore, had been expended 
 in the improvement of the harbour, and in adding to the fortifications ;- 
 and the garrifon maintained there coft from 50,000/. to 60,000/. per 
 annum. But this expence did not continue throughout the whole oF 
 Charles's reign : for when he found that it was impoffible for him to 
 depend upon regular fupplies from parliament, he Ordered the town to 
 be abandoned, the mole to be entirely deftroyed, and the garrifon to 
 be brought over to England. 
 
 The war which Charles entered into with the Dutch, w5s unjiift in FlrtlDutcJ*; 
 its commencement, and impolitic in its continuance. They were willing 
 to have given him every fatisfadion he could reafonably defire ; and in 
 confequence of the injuftice of his condudl, he had not only to contend 
 with the republic .of Holland, then in the zenith of its power, but alfo 
 with France and Denmark, by whom that (late v/as at laft fiipported : 
 and however keenly his fubjeiTts might at firft engage in fo unjuflifiable 
 a quarrel, from commercial jealoufy of their neighbours, yet he had- 
 every reafon to expe(ft that they would foon grow weary of furnifhing 
 him with fupplies, unlefs encouraged by the moft fignal fuccefles. Par- 
 liament voted the fum of 5,483,845 /. for carrying on the war. But 
 the funds appropriated to the purpofe were not fufficiently produftive. 
 The war coft the Dutch forty millions of li-<-res a year, above three millions' 
 fterling'"'. The only advantage which England received from it was the.- 
 
 '"' Hume, vol. vii. p. 419. Not5» 
 
 acquifitioixs 
 
 war.
 
 i24. 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 second 
 Dutch war. 
 
 Preparation 
 
 againft 
 
 France. 
 
 Profufenefs- 
 Anno 1675 
 
 acqulfitlon of New York : a poor vecompence for the difgrace at Chat- 
 ham, and the blood and treafure wafted in fo iniquitous a conteflr! 
 
 Of all the combinations which modern Europe can produce for the 
 
 deftruflion of any particular ftate, perhaps that between France and 
 
 England, for the annihilation of the Dutch republic, is the leaft to be 
 
 defended. Louis had forae reafon to be diflatisfied with Holland, for 
 
 having deferted his alliance ; and it might be expected that a defpotic 
 
 monarch, impelled by political ambition and religious bigotry, would 
 
 rejoice in an opportunity of difplaying his ftrength, even if he did 
 
 not add to his dominion ; and would willingly contribute to humble the 
 
 pride, and to crufh the power of a proteftant republic. But in Charles 
 
 were united, upon this occaHon, the meaneft treachery, the moft infa- 
 
 tiable appetite for plunder, and a total difregard for the public interefts 
 
 of his own kingdoms. His people, afhamed of the attempt, and 
 
 dreading the conicquences of its fuccefs, refufed to give him any con- 
 
 fiderable afliftance ; and by this negative fuccour to the Dutch, greatly 
 
 contributed to their fafety. During the war, the fum of 1,238,750/. 
 
 was voted by parliament ; but the objedl of it vi-as to procure the recall 
 
 of the declaration of indulgence : and it was finally granted to recom- 
 
 penfe the king for agreeing to its being annulled. 
 
 I The only other material warlike expence, during this reign "', was the 
 
 making preparations for a rupture with France, to which the king was 
 
 flrongly urged by his parliament. Some fupplies were granted for that 
 
 purpofe, which were faithfully applied : and it is alfo fuppofed that 
 
 Charles added confiderable fums out of his own perfonal revenue. 
 
 But the king and his parliament had become fo jealous of each other, 
 
 tliat the affair ended in nothing; and in confequence of thefe unfortunate 
 
 differences, the allies of England were left at the mercy of France, and 
 
 obliged, at the congrefs of Nimequen, to accept of any terms that 
 
 Louis thought proper to prefcribe. 
 
 The difgraces of this monarch's reign were greatly owing to his pro- 
 digality. In one of his fpeeches to parliament, he confefled that he had 
 not been altogether fo frugal as he might have been, and refolved to be 
 for the future. With a narrow revenue, he endeavoured, during the 
 
 "" Some afliftance was given to Portugal; an expedition fent againft Algiers; and 
 fome difturbances quelled in Virginia. But the expence could not be very great. 
 
 greater
 
 OF THE BRITISH EMPIRE. ,8j 
 
 greater part of his reign, to fupport a fplendid court, profiife mif- 
 trefles, and rapacious favourites : but when he found that it was necef- 
 fary, in confequence of difputes with his commons, to alter the former 
 tenor of his Hfe, he difplayed a firmnefs and flrength of nrind, of 
 which he was fuppofed incapable. He became as much diftinguilhed 
 for oeconomy as he had been for profufion ; and, greatly retrenching 
 his expenditure, he was able to carry on the ufual routine of govern- 
 ment, for the fpace of about three years, upon his own revenue, with- 
 out the affiftance of any fupply from parliament : and it is faid that he 
 had determined to alter the whole fyftem of his public and private con- 
 dudl, and to throw himfelf upon the afFe£lions of his people, whea 
 death interpofed, and proved how dangerous it is to procrallinate fucU 
 refolutions "'. 
 
 Refources. 
 
 Such were the expences which Charles incurred^ His power and 
 ability to defray thefe heavy charges arofe from a permanent income — 
 from parliamentary grants — and from mifcellaneous refources. 
 
 When the commons took into confideration the fettlement of the i. Permanent 
 king's revenue, they found that his father's income had amounted to "*^°'"*- 
 about 900,000 /. a year ; and they came to a refolution, that the 
 permanent income of the crown fhould be made up 1,200,000 /. 
 The following are the principal branches of which it was intended 
 to be compofed. 
 
 One of the firft adls, pafled after the refloration, contained a grant Cuftoms. 
 of the fubfidy of tunnage and poundage for the king's life. This aiX is, 
 by perfons converfant in th?'- branch of the revenue, commonly known 
 by the name oi the great Jlattite '"', on accoimt of its being the founda- 
 tion of our modern cuftom-houfe duties ; and the rates thereby laid on 
 are called the old fuhfidy"\ being a complete legal confirmation of all 
 the ancient duties which had been formerly impofed. It is alfo remark- 
 able from the rates varying according to different circumftances. Aliens 
 were to pay 6 /. per tun on wine imported : natives 4 /. i o j-. in London, 
 
 '"9 Hume, vol. viii. p. 2C9. "" Forfler, introd. p. 40. 
 
 '" 12 Car. II. c. 4. Smith's Wealth of Nations, vol. ii, p. 495. 
 
 B b and
 
 186 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Feudal pre- 
 rogaiives. 
 
 Origin of 
 the heredi- 
 tary excife. 
 
 Hearth mo- 
 nty. 
 
 and only 3/. In other parts. Thus the higheft duty was exadled in the 
 capital, where the people were the moll wealthy, and confequently the 
 beft able to afford it. 
 
 The only ftipulation that was made at this time, with the crown, in 
 any refpcdl: beneficial to the people, was the abolition of the feudal 
 rights, and incidents of wardfliip, marriage, livery, and purveyance, 
 which, fince the reign of William the Norman, had proved fo grievous 
 a load upon the inhabitants of this country. One would naturally have 
 imagined that a fcheme fo generally ufeful could hardly have met with 
 an opponent : yet a well-meaning and intelligent author has written a 
 voluminous quarto, to prove the fatal confequences that would neceflarily 
 refult from the alteration "\ Fortunately the event has fully difproved 
 his gloomy predictions. 
 
 Though the propriety of annihilating fo obnoxious a branch of the- 
 revenue as the feudal prerogatives was pretty generally acknowledged, 
 yet it was a matter of confiderable difficulty to determine how to 
 make up the defiiiency. In ftridl juftice, thofe ought to have been 
 loaded with the payment of the commutation who were liable to the 
 former burden ; and in the reign of James, when the fame plan was 
 in agitation, it was propofed that, in exchange, an annual fee farm 
 rent fhould be fettled, and infeparably annexed to the crown "\ But 
 excifes having been introduced by the long parliament, and paid 
 without much oppofition or complaint, inftead of a land-tax, an ex- 
 clfeable duty of fifteen pence ^t'/- barrel upon all beer and ale, and a pro- 
 portionable fum upon other liquors fold in the kingdom, was eftablilheJ ; 
 which, together with the profits of wine licences, it was calculated would 
 produce from 200,000/. to 300,000/. a year, and was confidered to be 
 an ample compenfation. 
 
 But the income which parliament had voted as neceflary for the pub- 
 lic fervice could not be ralfed without the aid of fome new additional 
 impofition j and the duty of hearthmoney was at laft granted to the 
 
 »" The antiquity, legality, reafon, duty, zn6 necejfily, of pre-emption and purveyance 
 for the King; by Fabian Philips. London, printed anno 1663. 410. in 495 pages. 
 "* Blackft, Comm. vol. ii. p. 77. 
 
 9 king
 
 OF THE BRITISH EMPIRE. 187 
 
 king and his fucceflbrs "*. This was a tax of two fliilllngs for every 
 hearth in all houfes paying to church and poor; and notwithftandlng 
 the popular objeclions which have been urged againit it, there is no 
 well-founded :e:iibn to call it either burdenfome or unequal, and it is 
 flill paid in Ireland without inconvenience or complaint. 
 
 The income which was in general collected from the various branches 
 of the crown revenue, during this reign, will appear fufficiently evi* 
 <]eat from the following ftateraent : 
 
 Account of the permanent Income of the Crown, anno 1663. 
 
 Cuftoms — — ^ ~" iC 
 
 Royal domains — — — 
 
 Dean Foreft — — — - — - 
 
 Port. office _ _ _ — - 
 
 Hereditary excife ^ — — — 
 
 Hearthmoney — - — . — — 
 
 Firft fruits and tenths — — — — 
 
 Coinage and pre-emption of tin — — — 
 
 Wine licences — — « __ _ 
 
 Mifccllaneous branches — — __ — 
 
 400,000 
 
 
 
 lOOiOOO 
 
 
 
 5, coo 
 
 
 
 26,000 
 
 
 
 274,950 
 
 
 
 170,603 
 
 II 
 
 i8,8po 
 
 
 
 12,000 
 
 
 
 20,C00 
 
 
 
 54^356 
 
 H 
 
 l^ 1,081,710 6 
 
 It appears, from this ftatement, that the parliament did not make up 
 the full income which it had voted. When the firfl fervor of the re- 
 ftoration was over, they probably repented of the rafli vote they had 
 haftily come to, and perceived the necelfity of preferving the crown 
 dependent upon the people. They conlidered that they had bellowed 
 a fceptre upon Charles, when his fituation was accounted to be the mofl: 
 defperate; and they thought it unneceflary to accompany ^o fplendid 
 a gift with advantages greatly fuperior to what his anceftors had 
 enjoyed. 
 
 "* Hume (vol. vii. p. 377.) ftates, that it was only granted during the king's life. 
 This, and fome other trifling miftakes of that excellent hiftorian, fliould be attended to in 
 the future editions cf his works. The firft atl by which hearthmoney W3S granted was 
 13 Car. II. c. 10. "' Conini. Journ. vol viii. p. 498. 
 
 B b 2 riiftorians
 
 i83 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 2. Parlia- 
 
 m;n:ary 
 
 grants. 
 
 Poll taxes. 
 
 AdJitional 
 cxcife and 
 cuftoms. 
 
 Hlftorians differ greatly, whether the parliaments which Charles 
 affembled were fufficiently liberal to that monarch. Thofe who com- 
 pare their grants with the profufencfs of their fucceffors, condemn them 
 as too parfnnonious, and attribute to that circumftance a confiderable 
 Ihare of the difgraces of his reign. Whereas otiiers who eftimate 
 their amount with thofe of preceding parliaments, accufe them of 
 prodigality ; and contend that none but a penfionary houfe of com- 
 mons could be fo lavifli. The fadl feems to have been, that when par- 
 liament difcovered the king's tendency to profufion, and the inftability 
 of his natural charader, they w'ere afraid of trufting him with large, 
 fupplies, and were determined, unlefs he purfued meafures for the. 
 general good, totally to refufe their afriftance. 
 
 The modes adopted to raife the money thus occafionally granted were 
 by poll-taxes ; by an addition to the excife and cuftoms by fubfidies ; 
 by a land-tax ; by a tax on perfonal property ; and by a fpecies of 
 ftamp duty on legal proceedings. 
 
 Three different poll taxes were granted during Charles's reign ; one 
 in particular antio 1660, for difbanding the army, which was intended 
 to raife 400,000 /. But though every perfon in the kingdom, above 
 fixteen years of age, not receiving alms, was charged fixpence, and 
 heavy rates were impofed upon men of property and rank, yet it was fo 
 negligently collected that it produced, on the 24th of November 1660, 
 only 252,167/.'": nor does it appear that there was afterwards any 
 addition. 
 
 By different a(fl:s, additional duties were laid upon the importation of 
 wine and on the fale of exclfable liquors. The firft, it was fuppofed, 
 would bring in 57,000/. a year, and was granted for the fpace of eight 
 years "'. The additional excife continued for nine years from the 24th 
 of June 1 66 1 "\ Its produce was fuppofed to be 300,000/. Both 
 thefe grants were fuffered to expire in confequence of the difputes 
 which arofe between the king and his parliament. 
 
 >»« Comm. Journ. vol. viii. p. 196. "^ 20 Car. II. cap. r. 
 
 "* The additional excife was firft granted for fix years, by 22 Car. II. cap. 5, and 
 afterwards continued for three years, by 29 Car, II. cap. 2. 
 
 The
 
 OF THE BRITISH EMPIRE. ,?c> 
 
 The lafl example of money being raifed under the name of fubfidy Subfidies. 
 took place in this monarch's reign. Four entire fubfidies were granted Anno 1673, 
 by the temporality, and an a£t was pafl'ed confirming a fimilar grant from 
 the clergy '". It produced only 282,000/. It was full time to give up 
 a fyftem of taxation which had become fo very unprodu£live, that the 
 king ftated in a fpeech to parliament, that eftates from 3000/. to 4000/. 
 a year, did not pay above 16 1, for all the four fubfidies. 
 
 Various land-taxes, then known under the name of afleflments, were Land tax- 
 granted by parliament. As the ads by which thefe taxes were ira-' 
 pofed are not among the printed ftatutes, and as confulting the original' 
 record is attended with fome difficulty, it is hoped that the note fub- 
 joined, containing an account of the proportions of each diftrid will- 
 not be unacceptable '". 
 
 "9 15 Gat. II. cap. gi & 10. 
 '" ASSESSMENT of 70,000 /. a month, as impofed anno 1660. 
 
 Bedford £ 933 6 8 
 
 Berks 1,088 17 10 
 
 Bucks 1,283 6 8 
 
 Cambridge — — •— 1,102 10 O 
 
 IfleofEly — — 367 10 o 
 
 County of Chefler —— _ . yyo o o 
 
 City of Chefler 85 11 2 
 
 Cornwall — — 15633 6 8 
 
 Cumberland -^— ■ ■ 108 o o 
 
 Derby 933 6 8 
 
 Devon —— 3,003 15 6 
 
 Oxford 107 6 8 
 
 Dorfet 1,311 10 6 
 
 Poole — — — — 10 14 o 
 
 Durham 153 14. ^ 
 
 Yorklhire and York — - . 3>043 8 10 
 
 Hull — — ' 67 13 o 
 
 Eflex . 3>5CO o o 
 
 Gloucefterfliire ■ ■ 1,626 6 8 
 
 Gloucefter ■ ■■ ■ 162 ii 2 
 
 Hereford ■ ' x,i66 13 4 
 
 Hertford ■ • ■ 1,400 O o 
 
 Huntingdoa < » ■ ' 622 4 6 
 
 Kent — 35655 1 1 2 
 
 Lancafter — — ' 933 6 8- 
 
 Carried over £ 29,070 12 4
 
 I90 HISTORY OF THE PUBLIC REVENUE 
 
 Taxes on Tlicre was a grant in 1670, amounting to 800,000/.; and the duties 
 
 peny. ^ impofed upon the public to raife that fum, were a tax of fifteen fliillings 
 
 on 
 
 Leiceftcr — 
 
 Lincoln — 
 
 London — 
 
 A'liddlefex and Weftminfter 
 Monmouth — 
 
 Northampton — 
 
 Nottinghamfliire — 
 
 Nottingham — 
 
 Norfolk — 
 
 Norwich — 
 
 Northumberland — 
 
 Newcaftle — 
 
 County of Oxon — 
 
 Rutland — 
 
 Salop — • 
 
 Stafford — 
 Litchfield — 
 
 Somerfet — 
 
 Briftol — 
 
 Southampton — 
 
 Suffolk — 
 
 Surrey — 
 
 Southwark — 
 
 Suflcx — — 
 
 Warwick — 
 
 Worcefterfliire — 
 
 Worcefter — 
 
 Wilts — 
 
 Weftmoreland — 
 
 Wales — 
 
 Berwick — 
 
 Brought over ■ 
 
 £ 29,070 12 4 
 1,088 17 8 
 
 — — 
 
 2,722 4 10 
 4,666 13 4 
 1,788 17 10 
 466 13 4 
 1,400 
 
 
 903 4 4 
 
 — .— 
 
 30 2 4 
 
 3,624 8 10 
 
 186 13 4 
 
 
 179 19 10 
 35 " 8 
 
 — — 
 
 1,127 15 6 
 
 _. — - 
 
 272 4 6 
 
 1,322 4 4 
 
 919 6 8 
 
 14 
 
 — — -. 
 
 2,722 4 6 
 
 _ _ 
 
 171 2 2 
 
 
 2,022 4 4 
 
 3,655 11 2 
 
 1,565 5 6 
 
 184 14 6 
 
 — 
 
 1,905 II 2 
 
 
 1,244 8 10 
 
 ■"^ 
 
 1,182 4 4 
 62 4 6 
 
 
 
 1,944 8 10 
 
 
 
 73 19 4 
 
 3,227 3 6 
 
 5 16 8 
 
 £ 69,786 10 o 
 
 One of the bills of afleffment in the time of the Commonwealth, for the year 1656, may 
 be feen in Schobel's Collection, p. 400. But the above flate is taken from a copy 
 of the Ordnance of the lords and commons for levying the afl'effinent 1660, which I 
 was fo fortunate as to meet with. Davenant, vol. i. p. 32, obferves, that the affeiTment 
 
 was
 
 OF THE BRITISH EMPIRE, r^r 
 
 on every hundred pounds belonging to bankers ; the fame fum on every 
 hundred pounds lent to the king at above 6 per cent, intereft; fix fhil- 
 lings/^r cent, on all perfonal eftates ; two fhillings in the pound on the 
 falaries of all offices and places, to which was added a iliilling in the 
 pound on lands and mines '". This was principally aimed at perfonal 
 property; and it is the only example, in the hiftory of our finance, of a 
 tax on bankers, and on fuch of the creditors of the crown as received 
 beyond the legal intereft, which at that time was 6 per cent. 
 
 The revenue arifing from ftamps was firft introduced into England Stamps*. 
 anrw 1671. It was impofed by a ftatute entitled, " An adl for laying 
 " impofitions on proceedings at law '"." The rates are various, and 
 the particulars fo very numerous, that it would be improper to enter 
 into the detail. The duty was at firft granted for nine years from the firft 
 of May 1 67 1. It was afterwards continued for three years longer, when, 
 in confequence of the unfortunate jealoufies between the crown and 
 parliament it was fufFered to expire. 
 
 It will now be proper to give as full an account as it is poffible to dra'^v- 
 up at this time, of the money granted by parliament during Charles's 
 reign, in addition to his permanent revenue. 
 
 was very favourable to the northern and weftern parts of England. He has formed a 
 curious table of the taxes raifed in England by various modes, and what proportion was- 
 affefied on each particular county ; but the alTeflmcnt of 1660 was omitted, which was. 
 an additional reafon to infert it in this work. 
 
 '" 22 Car. II. c. 3. '^* 22 h 23 Car. II. cap. 9. (Stat. ii. c?.p. 5,). 
 
 Parliamentary
 
 192 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Parliamentary Grants. 
 I. For the Debts of the Republic, and difbanding the Army. 
 
 J 660. 
 
 1660. 
 
 1662. 
 
 1663. 
 
 1664. 
 1665. 
 i6b6. 
 
 1668. 
 
 1670. 
 
 1677. 
 
 1670. 
 
 1. Three months afleflinent, at 70,000/. /iifr month 
 
 2. The firfl poll tax - - - 
 
 3. Two months alleflmcnt, at 70,000 /. each 
 
 4. Six months afleflment, at 70,000/. each 
 
 - £ aio,ooo 
 252,167 
 
 140,000 
 4?o,ooo 
 
 Total 1,022,167 
 
 9- 
 10, 
 
 n. 
 
 12. 
 
 '3 
 
 14. 
 
 IS 
 
 16. 
 
 »7 
 
 2. Temporary Grants. 
 
 For a fpeedy fupply to his majefty - - « 
 
 Ditto for the expeiices of the coronation 
 
 Forfeited eftates of traitors "' - - - 
 
 Grant for paying the king's debts 
 
 To be diflributed among the loyal cavaliers 
 
 Four entire fubfidies from temporality and clergy 
 
 Firft aid for the Dutch war - - - 
 
 Second aid for ditto - - - - 
 
 Third aid for ditto - - - - 
 
 Second poll tax for ditto - - - 
 
 Grant for fitting out a fleet - - - 
 
 Perfonal tax on bankers, and for the king's debts 
 
 Grant during the Dutch war, voted in order to procure 
 
 the repeal of the declaration of indulgence 
 Grant for building thirty fhips of war 
 Third poll tax for preparations againft France 
 Grant for difbanding the army, b'f. 
 Grant for ditto - - - - 
 
 ■\. Permanent Grants. 
 
 1. Additional tax on wine for eight years 
 
 2. Additional excife for nine years, about 
 
 3. Stamp duty for twelve years - - _ 
 
 Arrears of excife, voluntary prefents from parliament to 
 the king, and the duke of York, and money in the 
 hands of receivers at the rcftoration, fuppofed 
 
 f^ 70,000 
 
 70,000 
 
 75,000 
 
 1,260,000 
 
 60,000 
 
 282,000 
 
 2,477,502 
 
 1,250,000 
 
 1.256,345 
 
 500,000 
 
 310,000 
 
 800,000 
 
 1,238,750 
 
 584,978 
 150,000 
 414,000 
 206,462 
 
 456,000 
 300,000 
 266,666 
 
 13,014,868 
 
 400,000 
 I 13,414,868 
 
 «!' It appears from Comm. Jour. vol. viii. p. 498. that the clear annual value of thefeellates 
 amounted only to 5000 /. They were not probably worth more than 1 j years purchafe. 
 
 Befides
 
 OF THE BRITISH EMPIRE. 19J 
 
 Befides thefe grants, feveral others, to the amount of about a million 
 more, were loft by the difputes which fo frequently arofe, during this 
 reign, between the crown and parliament "'*. 
 
 But, in addition to the kintr's permanent revenue, and the grants of 3- Mifce!- 
 parliamenf, his exchequer was enriched by other means, which it will fources. 
 be neceflliry briefly to explain. 
 
 The dowry which the king was to have received with Catherine of Qi'«n'spor- 
 Portugal, befides 1 anglers in Africa, and Bombay in the Eaft- Indies, 
 was 500,000/. Such engagements, however, are not always fulfilled 
 with honour and punctuality ; and it is faid, that only 250,000/. was 
 adtually paid '^\ The expences which he incurred in defending Por- 
 tugal from the Spaniards, foon exhaufted this fupply. 
 
 The frugality of parliament during this reign, of which fo much has Sale of the 
 , r • 1 1 • r • 1 • • •.!_ domains, 
 
 been laid, was perhaps in a great meaiure owing to the impatience with 
 
 which the people paid even very moderate burdens. When an afleffment 
 for fix months was granted in'i66o. to raife the fum of 420,000/., it 
 was thought necefl'ary, by a claufe in the a<5l: itfelf, to alTure the public, 
 that it was not intended to continue that mode of impofition, though 
 it was the only produiliye one at the time. And the neceffitles of the 
 crown, atiNo 1670, being much greater than the houfe v^ras either 
 willing, or perhaps could venture tp fupply, the king, with little diffi- 
 culty, : procured an a£t to difpof^ of the fee-farm rents, the principal 
 part that Hill remained of the royal domains '". The produce of this 
 fale is very uncertain ; fome authors calculating it at 1,800,000/. and 
 
 "+ The amount of Charles's, II. 's rpvjpnuB has been a fubjefl: of great difpute between 
 the Whigs anJTories. It originated from a well-known Whig tradt, intitled, " A Letter 
 •' from a By-ftander to a Member of Parliament;" in which the author dwelt much on 
 the profufion of the Tory parliaments, which tha' monarch alTembled. It was foon ani- 
 madverted upon, in a paper printed anno 1742, called, " A proper Anfwer to the By- 
 " ftander." Mr. Carte, the hiftorian, foon afterwards entered the lifts, and publiflied z/ull 
 anfwer to the fame work, which was attacked in a Letter to the reverend Mr. Thomas 
 Carte, by a Gentleman of Cambridge, printed anno 1743.- Thist produced an elaborate 
 performance, by Mr. Carte, intitled, " A full and clear Vindication of the full Anf.ver 
 " to a Letter from a By-ftander," which clofed the controverfy. But the beft work upon 
 the fiibject is, " The prefent taxes compared to the payments made to the'public, within 
 " the memory of man, in a Letter to a Member of Parliament," printed for J. MarflialJ, 
 anno 1749- 
 
 ''5 Hume, vol. vli. p. 385, note. ''' 22 Car. IL cap. 6. 
 
 C c others
 
 ,54 HISTORY OF THE PUBLIC REVENUE 
 
 others at only 100,000/. The exa£t fum it is Impoflihle at pi*efent to 
 afcertain ; but it probably muft have amounted to 500,000/. 
 Sale of Dun- The polIcy of acquiring a poffeflion on the continent like Dunkirk, 
 •'"'■k' has been much difputed. Many great and refpedlable charadlers have 
 
 contended, that fuch pofrefllons are exnenfive ; occafion difguft and en- 
 mitv in thofe to whom they naturally belong; and give rife to an inter- 
 ference in continental concerns, with which England has no immediate 
 relation. Thefe objections are weighty ; but their force is confiderably 
 diminiflied by this important advantage. The keeping up of any confi- 
 derable and coUedted body of forces, it is well known, is thought danger- 
 ous to the liberties of the people. If it were not, therefore, by means 
 of remote foreign garrifons, it would be difficult for this country either 
 to attain or to preferve that full and complete experience and Ikill in 
 arms, and that knowledge of difcipline, and the arts of war, which 
 every nation ought to poffefs ; and of all the places on the Continent, 
 Dunkirk, naturally ftrong, eafily defended, lying between the French 
 and Imperial territories, and confequently lefs obnoxious and ofFenfive 
 to either of thofe two powers, was decidedly the moft eligible. It was 
 therefore not a little unfortunate that an acquifition which might have 
 been fo ferviceable to this country, fhould have been difpofed of, merely 
 in confequence of a fatal jealoufy between the crown and parliament. 
 The latter were afraid of trufting the king with the money neceflary to 
 defray the expence of maintaining the garrifon, whilft the king, on the 
 other hand, would not agree to transfer the pofl'effion of Dunkirk to 
 the parliament (who were willing to bear any charge it might amount 
 to), left they fhould acquire a feparate dominion and independent au- 
 thority "'. 
 
 The famous Clarendon was the perfon by whom the fale was con- 
 dudted on the part of England ; and after much negotiation, a bargain 
 was at lafl concluded for the fum of 400,000/. A part of the price 
 (amounting to 1,500,000 French crowns) was fent over in fpecie ; and 
 when coined into Englifh money, yielded 336,773/. Clarendon was 
 afterwards impeached by the houfe of commons, for having advifed this 
 meafure ; and it was the moft fpecious charge that could be urged againft 
 that virtuous and able minifter. 
 
 '*' D'Eftrades, Aug. 21, i66x. 
 
 There
 
 OF THE BRITISH EMPIRE. 195 
 
 There Is no circumftance of Charles's reign fo peculiarly dlfgraceful Penfioa from 
 as his acceptance of a fecret penfion from the court of France. To """' 
 ■whatever difficulties a fovereign may be reduced, it is furely beneath 
 the royal dignity to become a voluntary dependant on another. It was 
 particularly infamous in Charles, who had it in his power, by vigorous 
 meafures abroad, and by cultivating a good underftanding with his people 
 at home, to become the arbiter of Europe. But to pretend to be the 
 friend of Spain, of Holland, and of Auftria, when in fadt he was bound, 
 by the moft folemn engagements to the court of France, is a degree of 
 treachery much beyond the common finefle and artifices of a court, or 
 the utmoft juftifiable ftretch of political manoeuvre. It is impoffible to 
 fay what money Charles actually received in confequence of this fhame- 
 ful connexion. It appears that he demanded 18,000,000 of livres (about 
 750,000/. fterling), for fecretly favouring Lewis, at the conqueft of Ni- 
 meguen. Various other fums he alfo received at different times "'. The 
 whole may be eftimated at 950,000/. 
 
 The wars which this king entered Into againft the Dutch were princi- PlundW' 
 pally with a view of plundering a wealthy, and, as he imagined, an al^ 
 moft defencelefs neighbour ; at leaft one greatly inferior, in point of 
 ftrength and refources, to the dominions which he governed. But in 
 thefe felfifh and interefted defigns, he was generally difappointed. In the 
 firft Dutch war, an Eaft Indian fleet very richly laden, was prevented 
 from falling into his hands by the affiftance of the Danes, whoproteded 
 it in the harbour of Bergen : and in the fecond war, another fleet, 
 coming from the Mediterranean, valued at a million and a half, efcaped, 
 though with confiderable difficulty. Charles, notwithftanding, found 
 means to reap fome pecuniary advantages from thefe wars. His fhare of 
 prize-money, during the firft war, amounted to 340,000/.; and, in con- 
 fideration of his agreeing to conclude the fecond peace, he received 
 800,000 patacoons, about 300,000 /. fterling. 
 
 Charles was reduced to fuch difficulties, anno 1672, that he declared. Shutting up 
 whoever difcovered a mode to fupply his neceffities fhould be rewarded Lgr,'"^^*" 
 with the office of treafurer. Clifibrd, created Lord Cliffiord, as well 
 as entrufted with the care of the treafury, for the expedient he fug- 
 
 *'* Hume, vol. viii. p. 206, note T. 207, note U. 
 
 C c 2 gefted,
 
 196 HISTORY OF THE PUBLIC ;RE.VENUE 
 
 gefted, propofecl to fhut up the Exchequer jr ^nd Jndeacl of repaying 
 any principal fums that had been' advanced upon its fepurity, to ifluc 
 onlythe legal annual intereft of 6 per cent. The nature of this infa- 
 mous tranfaclion will be more fully explained in another part of this 
 work : at prefent it is only neceflary to ftate the pecuniary profit which 
 Charles reaped from it. Hume calculates the advantage only at 
 1,200,000/. "' ; but it appears from the journals of parhament, that the 
 intereft, at t per cent.^ amounted to 79,5(56/.'^°; confequently the prin- 
 cipal muft have been 1,328,526/. 
 Extortions. • The principles of the Englifli conftitution, in regard to taxation, were 
 at this time fo fully underftood, and the power of the crown to levy 
 arbitrary impofitions fo totally abolithed, that during the greater part 
 of Charles's reign, his fubjedls had little reafon to complain of illegal 
 exaftions. An arbitrary duty, however, was laid on coals during the 
 war with Holland, under the pretence of providing convoys, which 
 the parliament very properly complained of. And when the king, in 
 confequence of the imprudence and mifcondudl of thofe who demanded 
 the exclufion of his brother from the crown, had obtained a complete 
 victory over that formidable party, and, indeed, had become almoft 
 fully mafter of the liberties of the people, he compelled the different 
 corporations to furrender their charters into his hands, and exa£ted 
 confiderable fums previoufly to their reftitution '^'. But this did not 
 take place till near the conclufion of his reign. 
 
 It will now be proper to give a general view of this monarch's income 
 and refources. 
 
 '" Hume, vol. viii. p. 326. '^^ Comm. Journ. vol. x. p. 109. 
 
 "' Ibid. vol. viii. p. i8i. 
 
 GENERAL
 
 OF THE BRITISH EMPIRE. 197 
 
 GENERAL VIEW of the Money received by Charles II. during the 
 
 whole courfe of his reign. 
 
 I. Miscellaneous Resources. 
 
 1. Queen's portion — — — — £ 250,000 
 
 2. Sale of the Domains -"— — —__. 500,000 
 
 3. Price of Dunkirk •—- — — — 4CO,ooo 
 
 4. Peiifions and Donations from France — — — 050,000 
 
 5. Plunder — — — _ _ 640,000 
 
 6. Shutting up the Exchequer — .— — 1,328,526 
 
 7. Extortions — — — — — r 00,000 
 
 £ 4,168,526 
 
 2. Parliamentary Grants. 
 
 The various fums granted by parliament for public fervices — 13,414,868 
 
 I i7.583'394 
 
 3. The Permanent Revenue. 
 
 The permanent income of the crown, at the rate of 1,100,000/. a year, 
 
 for the fpace of twenty-four years — — 26,400,000 
 
 "' £ 43'983'394 
 
 Thus it would appear that Charles received, in all, about 43,983,394/. 
 in the courfe of his reign, which would make above 1,800,000/. a 
 year ; a fum adequate to the national expences, had it been managed 
 with frugality ; at lead equal to every necelTary charge in times of 
 
 '»* Authors differ much with regard to the total amount of this monarch's income. 
 Hume, vol. viii. p. 326, calculates the ordinary revenue at about 1,200,000/. ; the 
 grants of parliament at 476,808/. a year: and to this he adds 1,200,000/. for fliuttin"- 
 up the Exchequer ; but he omits feveral of the other fources above ftated. The author of 
 a traft, printed i 749, entitled, " The prefent Taxes compared to the Payments made to 
 •' the Public within the Memory of Man," fuppofes the ordinary revenues, on an average, 
 to be a million and a half yearly. Carte has drawn up an account in many refpedls erro- 
 neous, from which he contends, that only 32,474,265/. was raifed upon the people of 
 England in the twenty-four years of Charles's a<Sual poUeflion of the government, making 
 only 1,353,095/. a year. See Full Anfwer, p. 161. Another author (Letter to Carte, 
 p. lOi) makes the whole fum received by this monarch 54,842,449/. or 2,300,000/. 
 per annum, I have endeavoured to flate a juft and proper medium. 
 
 peace
 
 iq9 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Coinage. 
 
 Fifhing Li- 
 cence. 
 
 Alteration in 
 the mode of 
 taxing the 
 clergy. 
 
 peace and tranquillity ; though in time of war it might have required 
 fome addition. 
 
 If we may judge from the ftate of the coinage during this monarch's 
 reign, no confiderable addition was made to the metallic wealth of the 
 country. Only 4,177,253/. 12 s. ^d. was coined in gold, and 
 3,722,180/. IS. 2>^d. in filver, making in all 7,899,433/. i^s. i\d. 
 
 The attempt was not abandoned, during this reign, of compelling the 
 Dutch to pay for the liberty of fifliing on the Britifh coafts. Charles 
 demanded 10,000/. a year for granting them this privilege. Whatever 
 juftice there might be in the claim, the bad fuccefs of his warlike enter- 
 prifes againft that nation, could not furnifh him with any flattering ex- 
 pedtations of his demand being complied with. 
 
 The financial hiftory of this period is diftinguifhed by two important 
 alterations ; in regard to the manner of impofing taxes on the clergy, 
 and the mode of granting public fupplies. 
 
 Among the many valuable privileges which the church had acquired 
 in the dark and fuperftitious ages of modern Europe, that of an exemp- 
 tion of taxes was not the lead confiderable. Under the pretence that their 
 power was derived from Heaven ; and that their eftates were the pro- 
 perty of the Deity, and confequently facred and inviolable, they denied all 
 fubjedion to temporal authority, and refufed to contribute in common, 
 with the public at large, to the neceflities of the State. The fubfidies 
 they paid, were either in confequence of bulls from the Pope, whom they 
 confidered as their fpiritual, and indeed, real fovereign, or impofed by 
 the authority of their own ecclefiaftical fuperiors, to whom they pro- 
 feffed, in a fubordinate degree, canonical obedience. 
 
 Edward I. it has been already obferved, was the firft monarch of Eng- 
 land who compelled the clergy to pay taxes, not only without the au- 
 thority, but in avowed contradidion to a bull from Rome j and for 
 many years after, the convocation was regularly aflembled at the fame 
 time with the parliament, for the purpofe of granting fupplies "". This 
 pradVice continued until the long parliament aflumed the government of 
 the country : their religious principles were fo adverfe to all diftindl or 
 
 •" Glib. Excheq. p. 48. 
 
 independent
 
 OF THE BRITISH EMPIRE. ,p9 
 
 independent ecclefiaftlcal authority, that no convocation was fuffered to 
 meet ; and the income and poiTeffions of the church were included in 
 thofe monthly afleflments or taxes on real and perfonal property, which 
 were levied during the exiftence of the commonwealth. 
 
 After the reftoration, the hierarchy and the rights of the convocation 
 were again re-eftabliflied. But the clergy were afraid that the privilege 
 of taxing themfelves would prove a burden inftead of being a benefit. 
 They remembered that, during the reigns of the former raonarchs of 
 the houfe of Stuart, confiderable grants were perpetually expedled from 
 them ; and that fuch was the influence attending the clerical patronage 
 of the crown, that much heavier taxes were impofed upon the property 
 of the church, than on the eftates of the laity. They were not a little 
 anxious, therefore, to be put upon the fame footing as to taxation and 
 reprefentation, that they were in the time of the long parliament ; and 
 accordingly it was agreed upon, that the revenues and property of the 
 church fhould continue to be included in the monthly afleflments which 
 were impofed '^^ ; and that the parochial clergy fliould be allowed to 
 vote at eledions, though incapable of being eledted '". Thefe terms 
 ,the parliament afl^ented to, as they proved the means of acquiring a con- 
 fiderable accefljon to its power of taxation ; and rendered the crown 
 ftill more dependant upon the only body of men by whom its wants 
 could in any degree be fupplied : nay, as an additional boon, two 
 clerical fubfidies which had been granted by the convocation were 
 remitted. 
 
 The grants of parliament were originally confidered, merely as tem- Alteration ia 
 porary aids to afl^ifl: the fovereign in defraying the expences he was fub- '•'^'^o'^eof 
 
 Z - r , , c ri 11' ii,-i grantingfup- 
 
 ject to, tor the benent ot the public ; and uniels the commons hap- plies. 
 pened to entertain at the time any particular jealoufy of the crown 
 and its minifl:ers, the fum granted was commonly left entirely to their 
 difpofal. But after the refl:oration, not only more frequent grants 
 were demanded, but, in confequence of the poverty to which the 
 crown was reduced, parliamentary grants had become really necef- 
 
 '3* It was finally fettled, anno 1664, in confequence of a private agreement between 
 Sheldon, archbifhop of Canterbury, and Lord Clarendon, in conjunflion with the other 
 miniflers. See Burn's Ecclef. Law j voces, Convocation,and Firft Fruits. 
 
 »3s 13 Car. n. c. 4. 
 
 3 fary
 
 200 HISTORY OF THE PUBLIC REVENUE 
 
 fary^almoft every year. It was impofTible, however, for parliament, dif- 
 trufting not only Charles's oeconomy, but his regard for the intereft of 
 his kingdoms, to veft confiderable fums of money in fuch unfafe and 
 improvident hands : it was, therefore, thought requifite to fpecify the 
 purpofes for which each fum. was voted. Thus appropriating claufes 
 came to be introduced. At one time, the jealoufy of the commons was 
 Anno 1678. carried to liich a height, that they fent a bill to the houfe of lords, con- 
 taining a claufe by which the money thereby granted was ordered to be 
 paid into the chamber of London. But the peers would not fufFer fo 
 great a fligma on the king and his minifters to pals into a law '^^. The 
 mode of appropriation, though in the main right, was neverthelefs 
 attended with unfortunate conlequences. It abated the jealoufy of the 
 commons. It was natural for them to imagine that grants, thus ftridly 
 appropriated, could not be diverted to other purpofes; and they became 
 negligent in making the moft effential of all enquiries, namely, how 
 the public money was adually expended. At one time, committees 
 of the houfe of commons, and at another, commiffioners have been 
 appointed to examine into the public accounts : but the wound has 
 never been probed to the bottom ; and public profufion will never be 
 fully checked, until not only eftimates, which are too often fallacious 
 and unintelligible, but alfo accounts of the manner in which the fupplies 
 granted were really fpent, are regularly laid before parliament 
 
 JAMES ir. 
 
 There was no department of government in which this rafh and 
 odious bigot did not betray the defpotic and arbitrary principles on 
 which he intended that his adminiftration Ihould be condudled : but 
 they were firft exhibited to their full extent in the article of his 
 revenue. Though the greater part of his brother's income had been 
 granted only for the life of that monarch, and confequently expired 
 with him, yet, contrary to the opinion of his council, who advifed him to 
 fufpend levying the duties until the payment was authorifed by par- 
 
 '^° Hume, vol. viii. p. 85. 
 
 liament,
 
 OF TFIE BRITISH EMPIRE, loi 
 
 liament, he Iflued a proclamation, commanding the cuftoms and other 
 taxes to be paid as formerly : and, in his firfl fpeech from the throne, 
 after declaring that he expected his revenue fhould be fettled on the 
 fame footing with his brother's, which was no unreafonable requeft, he 
 very plainly intimated, that any attempt to fecure the frequent meetings 
 of parliament, by granting moderate fupplies, would be refented. " I 
 *' muft plainly tell you, that fuch an expedient would be very improper 
 *' to employ with me ; and that the beft way to engage me to meet you 
 *' often, is always to ufe me well '"." Thus, he gave them to under- 
 ftand, that he would only have recourfe to them, if they complied with 
 his demands. • His fpeeches furnifli the laft example in our hiftory of an 
 Englifli monarch attempting to intimidate his people by the arrogance of 
 his language. 
 
 The only public virtues which James poflefled, were frugality in Expences. 
 hi? expences, and a ftrong defire to increafe the naval flrength of his 
 kingdoms. In the latter article he difplayed fuch zeal and judgment 
 as reflects a confiderable degree of luftre on that part of his adminidra- 
 tion. But the army was by no means neglected. Under pretence that 
 the militia were found very unferviceable during Monmouth's rebellion^ 
 be demanded a fupply from parliament to maintain thofe additional 
 forces which he thought proper to levy at that time '^' ; and he aiflually 
 had in pay 30,000 regular troops in England alone, when invaded by 
 his fucceffor. 
 
 The only temporary grant during James's reign, which was carried Grants. 
 into effecft, was a fupply of 400,000/. for the purpofe of fupprefFing 
 Monmouth's rebellion ''*. Anno 1685, yoo,ooo pounds were alfo voted; 
 but the king, as a mark of his difpleafurc, and to prevent the lioufe 
 from interfering with his pretended prerogative, of difpcnfing with the 
 tefts impofed by law, for the exclufion of Catholics from offices of truft 
 and emolument, prorogued the parliament, before the grant palled into 
 a law 
 
 The propriety of granting a permanent income to the king for life, Permanent 
 was one of the many important points which James's parliament had 
 
 '^^ Colledlion of King's Speeches, p. 177, '^^ Hume,'vol. viii. p. 180. 
 
 •" Hume, vol. viii. p. 226. "^^ Mort. vol. ii. p. 658. 
 
 Dd to
 
 2oa HI3TGRY OF THE PUBLIC REVENUE 
 
 to determine foon after his acceffion ; and fuch was then the great au- 
 thority of the crown, that a larger revenue was given to James for his 
 life, than any monarch of England had ever enjoyed '■". It appears from 
 the following account, which was laid before parliament at the Revolu- 
 tion, that it amounted to above two millions /t-r annum. 
 
 ACCOUNT of the principal Branches of the Revenue, anno 1688, 
 
 clear of all Dedudlions. 
 
 Tonnage and poundage, including the wood, coal, and fait farm — 600,000 
 
 Excife on beer and ale ' ■ 666,383 
 
 Hearth-money ■ ' ■ 245,000 
 
 Poft-cffice — — — — ■ — — 65,000 
 
 Wine licenfes — — — — — ■ •- 10,000 
 
 New impofitions on wine and vinegar — — — — 172,901 
 
 Duties on tobacco and fugar — — 148,861 
 
 Duty on French linen, brandy, filk, &c. — — — - 93>7iO 
 
 •*»;^ 2,001,85s 
 
 This account does not include fome of the fmaller articles of re- 
 venue. 
 
 Coinage. During this monarch's reign, which lafted only four years, there 
 
 was coined, in gold, the fum of 2,113,638/. i8j. 8^^., and, in filver, 
 518,316/. 9J-. 5l^. ; making, in all, 2,631,955/. 8j-. il^. 
 
 Reflexion. It is the peculiar happinefs of the people of England that every at- 
 
 tempt to diminilh their rights, or to encroach upon their liberties, has 
 
 '♦' See the arguments on both fides, ftated by Hume with his ufual ability, vol. viiu 
 p. 221, 222, 223, 224. Here we muft talce leave of this excellent hiftorian, from whom 
 much advantage has been derived in the courfe of this inveftigation. Indeed, it is impofTible 
 to give a juft difplay of any branch of the hiftory of England, without making a confider- 
 able ufe of his remarks. His work, however, is far from being equal. The firft part and 
 the conclufion of his hiftory, is not excelled by any compofition either modern or ancient : 
 but the middle, which he firft publiflied, being compofed with lefs experience in writing, 
 is not only more prolix, but alfo feems to have been drawn up rather as a defence of the un- 
 fortunate race of Stuart, than as a candid and impartial hiftory. 
 
 »*^ Comm, Journ. vol. x. p. 37. 
 
 been
 
 OF THE BRITISH EMPIRE. 203 
 
 been attended with confequences diametrically cppofite to thofe wliich 
 were defigned at the time ; and tliat every king who has governed ill, 
 has given the public feme compenfation for the offences or errors he 
 committed, by proving the fource of beneficial law?, and of additional 
 checks upon tyranny and oppreflion. The crimes and mif-government 
 of John gave rile to Magna Charta^ and all the important privileges 
 ■which that charter tended to confirm. The extortions v/hich that able 
 and high-fpirited prince, Edward I. was led into, in confequence of the 
 expenfive foreign wars in which he was engaged, occafioned the famous 
 ftatute, De TaUagio ?icit conccdcndo ; the pafficg of which is unquef- 
 tionably one of the moft important events in the hiftory of this country. 
 And the exactions attempted to be enforced by the firft princes of the 
 houfe of Stuart, joined to James's obftinacy, bigotry, and infatuation, 
 were produdlive of a revolution equally favourable to our civil and re- 
 ligious liberties, and of the eftablifhment of a form of government 
 " the moft perfe(ft in theory, and the happieft in pradice, that has ever 
 •* exifted among mankind :" a conftitution which, it is proper to ob- 
 ferve, was not the offspring of hafte, or projected by one man ; but 
 was gradually formed in the courfe of a long and important ftruggle, 
 which lafted from the death of Elizabeth, to the acceffion of William III, 
 and employed the powers of as able men as ever exifted in any country 
 whatfoever. It was from the collifion of fuch abilities alone that fo 
 valuable and well-conftrudeJ a fabric could have been ereded ; and 
 its blemifhes (for, like all other works of human invention, it is, in 
 fome refpeds, defedlive) we truft will be removed, without pulling the 
 edifice to pieces, without injuring its beauty, or impairing its vigour 
 and its ftrength. 
 
 Thefe were the moft important financial tranfaftlons which took place Conclafion. 
 under the government of the houfe of Stuart, during whofe adminiftra- 
 tion maiiy new branches of revenue were introduced, fuch as excifes, 
 the poft-office, monthly affeffments, &c. ; and many old refources were 
 either abandoned, as unprcducflive, or aboliftied, on account of their 
 oppreffion. Hence fubfidies were given up, and the whole fabric of 
 feudal exa£lion, of wardftiip, marriage, &c., together with benevolences, 
 free gifts, and compulfive loans, were for ever annihilated. 
 
 But
 
 204 HISTORY OF THE PUBLIC REVENUE 
 
 But the period is particularly remarkable for enabling us to form feme 
 kind of judgment of the full extent of that heavy burden which the fund- 
 ing fyftem introduced into this kingdom. 
 
 The revenue of England, at the acceffion of the houfe of Stuart, anno 
 1602, vifas about 500,000/. a year. Eighty-fix years afterwards, when 
 James II. was expelled, it was raifed to above two millions : the annual 
 increment confequently was nearly 17,441/. At the fame rate of in- 
 creafe, the revenue, a7ino 1774, eighty-fix years after the Revolution, 
 {hould only have been 3,500,000/. ; and ten years afterwards, anno 
 1784, ought not to have exceeded 3,674,418/., or, perhaps, with the 
 addition of Scotland, rather more than four millions a year. If the 
 prefent income of the State, therefore, is about fourteen millions, ten 
 millions of that fum may be attributed to the funding fyftem ; and 
 would not have exifted, if the extraordinary expences of the pubUc had 
 been defrayed by money exadled at the time, without leaving any 
 burden upon pofterlty. Indeed, four millions would be amply fufficient, 
 at this time, to defray the charges of the civil lift, and of our peace efta- 
 blifliment, if the load of taxes impofed to provide for the intereft of our 
 public debts, did not raife the price of every commodity to fuch a height, 
 as to render money much lefs efficient than it would otherwife be. 
 
 But, on the whole, though our circumftances might have been better, 
 let us not too haftily either envy the fituation, or inveigh againft the 
 conduifl of our predeceflbrs. Lightly as we may imagine they were bur- 
 dened, yet they complained as loudly as we do, of the intolerable weight 
 of taxes, and of the diftrefs and poverty which they occafioned : and 
 though, inftead of adding to their own burdens, they thought themfelves 
 juftifiable in bequeathing to their pofterity a confiderable part of that 
 grievous load of public debt, under the preffure of which we now 
 llaggcr, let it alfo be remembered, that they delivered into our hands a 
 well-cultivated illand ; dependencies of great value and importance ; an 
 extenfive commerce ; flourifhing manufactures j a fuperior fyftem of 
 agriculture j a high charadler for ability and valour; and, joined to all 
 thefe advantages, a fyftem of government, unequalled in the annals q£ 
 mankind for the bleflings which it affords. 
 
 END OF PART L
 
 APPENDI X 
 
 T O T H E 
 
 HISTORY 
 
 O F T H E 
 
 PUBLIC REVENUE 
 
 O F T H E 
 
 BRITISH EMPIRE. 
 
 By Sir JOHN SINCLAIR, Bart. 
 
 LONDON: 
 
 PRINTED FOR T, CADELL, IN THE STRAND. 
 MDCC UUUUX.
 
 C ^ ] 
 
 ADVERTISEMENT. 
 
 IT is now above Three Years, fince the Third and concluding Part, 
 of the Hiftory of the Revenue of the Britifh Empire, was prepared 
 for the Prefs. The Publication, however, of that Work was delayed, 
 from the Hopes of receiving eveiy Afliftance which the Records of the 
 different Offices could furnifh, to render it more worthy the Atlenton 
 and Favour of the Public. But every Expedlation of that Kind having 
 been difappointed from Time to Time (the Occafion of which it would 
 be unpleafmg and difagreeable to dwell upon), the Author was re- 
 folved to fulfil the Engagements he had come under for completing the 
 Work, without any farther Delay. In the mean while an Event of a 
 Nature the moft unforefeen and diftrefling, has taken place, from which 
 a Change of Government may be looked for : and as his Wifhes for 
 Information may poffibly be gratified by fome future Minifter who 
 may condefcend fo far as to encourage the Difcuflion of Political Quef- 
 tions, he is therefore induced to defer the Publication he had intended 
 for fome Time longer ; in Hopes of receiving from any fucceeding Ad- 
 miniftration the Aid which he required: confifting merely in furnifhing 
 fuch Fails as Government has the beft Accefs to be acquainted with 
 (which at the fame Time ought to be no Secret to the Public) and in 
 fupplying fuch Abflradts of the National Receipts and Iffues as were 
 drawn up at the Death of King William, (See Appendix^ No. V.) and 
 which ought to be continued for the Reigns of every fucceeding Mo: .arch 
 of this Country. In the Interval he has thought it advifable to publifh 
 the following Append' x^ which he flatters himfelf may contain fome 
 Information not unworthy the Reader's Attention. 
 
 It
 
 vi ADVERTISEMENT. 
 
 It may not be Improper to add, that the Third Part will contain the 
 following Particulars: i. An Account of the Progrefs of the National 
 Income fmce the Revolution. 2. A Statement of the prefent Amount of 
 the Public Revenue, and of the different Branches of which it confifts. 
 3. A View of the Progrefs of the Public Expences fmce the Revo- 
 lution. 4. Obfervations on the Population, Wealth, and Political 
 Circumftances of the Nation. 5. An Impartial Difcuflion of the 
 National Refources. 6. An Analyfis of the prefent National Debt, 
 the Nature and real Amount of the Burthen, and the Means of 
 difcharging it. Together with a View of the Progrefs and prefent 
 State of the Revenue of Scotland and Ireland. 
 
 CONTENTS.
 
 CONTENTS. 
 
 No. I. 
 
 General View of a propofed Analyfis of the Sources of public 
 Revenue. page i 
 
 No. IT. 
 
 A Catalogue of the Works which have been printed In the Englifli 
 Language, upon the Subject of Finance ; together with a Lift of 
 fuch foreign Publications, as regard the Revenue of this Empire, p. 6 
 
 No. in. 
 
 Abftrafl; of the Prices of the different Stocks, fince the Year 1 730. 
 
 p. 49 
 
 No. IV. 
 
 An Antidote to Defpondency, or progreffive Allertlons from refpedl- 
 able Authority, tending to prove that the Nation was actually un- 
 done, prior to the Revokition in 1688, and that it has remained in 
 a continued State of Ruin or Decay, ever fince that memorable 
 Era. p. 69 
 
 No. V. 
 
 State of the public Income and Expenditure, during the Reign of 
 King William. p. 77
 
 C i 3 
 
 APPENDIX. 
 
 No. I. 
 
 General View of a propofcd Analyfu of the Sources of Public 
 
 Revenue. 
 
 THE Author of this publication Has it in contemplation, as foon 
 as other avocations will admit of it, to fubmit to the confidera- 
 tion of the public, a general and fyftematic Analyfis, of the Sources of 
 Public Revenue, and the Principles on which they are refpedlivcly 
 founded : and a variety of materials for that extenfive undertaking are 
 already collected. But an attempt of that nature cannot be haftily com- 
 pleted ; for it requires a thorough inveftigation into the revenues of 
 every nation both ancient and modern, and an attentive confideration 
 of the various works which have been written in the different languages 
 of Europe upon the fubjedl of Finance : and as many circumftances 
 may occur, which may prevent him, for a confiderable fpace of time, 
 from carrying into full effect an objeft requiring fuch labour and re- 
 fearches, he mufl: content himfelf, for the prefent, with publifhing an 
 Abftra£t of his intended Analyfis, and with requefting that the Reader, 
 who may be converfant in fuch enquiries, would favour hint-with any 
 obfervations which may occur upon an attentive perufal of it, either 
 refpefting the Table itfelf, or the manner in which the particular Sources 
 of Public Revenue axe therein arranged. 
 
 B TABLE
 
 APPENDIX. 
 
 A 
 
 B 
 
 OF THE 
 
 SOURCES of PUBLIC REVENUE. 
 
 I. Properly vejied in the Public. 
 
 Lands, 
 
 Mi 
 
 ines. 
 
 - 1 
 
 ■I. Buildings. — 
 
 3. Fifhings. — 
 
 Peculiar Produc- 
 tions. 
 
 1. Forefls. 
 
 2. Pafture lands. 
 
 3. Arable lands. 
 
 4. Gardens and vineyards. 
 
 1. For pri^'ate habitation. 
 
 2. For public entertainments. 
 ^. Public baths. 
 
 1. In frefh water. 
 
 2. In fait water. 
 
 3. Of pearls. 
 
 1. Of metals. 
 
 2. Of fait and minerals. 
 
 3. Of precious ftones. 
 
 1. Bitumen. 
 
 2. BaL"! of Gilead. 
 
 3. Alum. 
 
 4. Terra Sigillata. 
 ?. Mineral waters. 
 
 II. Lucrative
 
 APPENDIX. 
 
 II. Lucrative Prerogatives Intriijled to the Government of a Country 
 
 I. Right of Seignory. < 
 
 1. Non entry. 
 
 2. Relief. 
 Wardfhip. 
 Marriage. 
 Fine of alienation. 
 Aids. 
 Efcheat. 
 
 8. Purveyance. 
 
 9. Pre-emption. 
 
 3- 
 
 4- 
 
 5- 
 6. 
 
 7- 
 
 1. Bona vacantia. 
 
 2. Treafure trove. 
 
 3. Waifs. 
 
 2. Right to unappro- ^ ^^ ^^^^^^^ 
 
 priated Property 
 
 5. Goods wrecked. 
 
 6. Goods not inherited. 
 
 , 7. Goods of deceafed foreigners. 
 
 3. Right of declar 
 Peace or War 
 
 irlng f ^; 
 
 I. Plunder in war. 
 
 Tributes from other nations. 
 3. Subfidies. 
 
 4. Judicial Rights. 
 
 f 1. Judging and determining caufes. 
 2. Fines and pecuniary punllliments. 
 
 13. Confifcation. 
 4. Regifters. 
 (^ 5. Stamps. 
 
 5. Rights as the Foun- 
 tain of Honour, &c. 
 
 \ 
 
 1. Sale of honours. 
 
 2. Sale of offices. 
 
 3. Sale of franchlfes, &c. 
 
 B 2 
 
 6. Rights
 
 APPENDIX. 
 
 Rights as the Arbi- 
 ter of Commerce. 
 
 1. Commerce carried on by agents. 
 
 2. Monopolies farmed out. 
 
 Monopolies granted. 
 
 Lotteries. 
 
 Poft-office. 
 
 Monopoly of porting. 
 
 ^ . C I . Of metals. 
 
 Comage. | ^_ 
 
 3- 
 4- 
 
 5- 
 6. 
 
 1. Of paper, 
 8. Tolls and paffage taxes. -J 
 L 9. Port duties. 
 
 Rights as the Guar- r i. Sumptuary taxes, 
 dian of Morals. [ 2. Taxes on public amufements. 
 
 At fea. 
 On land. 
 
 8. Rights as the Head 
 of the Church. 
 
 I. 
 
 2. 
 
 3- 
 
 4- 
 
 5' 
 6. 
 
 Cuftody of temporalities. 
 
 Right of corody. 
 
 Extra-parochial tithes. 
 
 Firft fruits and tenths. 
 
 Religious revenues belonging to the church. 
 
 Religious revenues belonging to laymen. 
 
 2. 
 
 Of Taxes paid in 
 Kind. 
 
 III. Contributions from Individuals. 
 
 I. Of perfonal Ser- [ i. In peace, 
 vices. \ 2. In war. 
 
 1. Of grain. 
 
 2. Of cattle, &c. 
 
 3. Of manufadlures. 
 
 1. On perfons in general. 
 
 2. On women. 
 
 3. On bachelors. 
 
 4. On ftrangers. 
 
 5. On obnoxious perfons. 
 
 6. On flaves. 
 
 Of Taxes on Per- 
 fons. 
 
 Of
 
 4. Of Taxes on real 
 Property. 
 
 APPENDIX. 
 
 On lands. 
 
 f I . Hearth money. 
 
 ni 1, -u- J 2. Window lights. 
 On buildings < /-, -i ° 
 
 ^ \ 3. On tiles. 
 
 L 4. On gates. 
 
 On fifheries. 
 
 . 4. On mines. 
 
 I. 
 
 2. 
 
 5. Of Taxes on per- 
 fonal Property. 
 
 6. Of Taxes on Pro- 
 perty when tranf- 
 ferred. L 3- 
 
 
 7. Of Taxes on In- C i. 
 come. c 2. 
 
 8. Of Taxes on Con- 
 fumption. 
 
 { 
 
 On the Interefl of money. 
 
 On plate. 
 
 On carriages, &c. 
 
 By audlion. 
 By private fale. 
 By will. 
 
 From different profeffions. 
 From the public. 
 
 Cufloms. 
 Excife. 
 
 f I. Ofprovifio 
 
 1. Compulfive Loans. ■) ^r 
 
 ^ t 2. Oi money. 
 
 IV. Public Loans. 
 
 I . Of provifions, carriages, &c. 
 
 ■2. Voluntary Loans. 
 
 1 . On valuable pledges. 
 
 2. On the perfonal credit of the government. 
 
 3. On the fecurity of the public domains. 
 
 4. On the produce of particular taxes. 
 
 5. By granting — temporary annuities. 
 6. annuities on lives. 
 
 8. 
 
 -contingent annuities, 
 -perpetual annuities.. 
 
 APPENDIX.
 
 APPENDIX. 
 
 APPENDIX. 
 
 No. II. 
 
 A CATALOGUE of the WORKS 
 
 Jt'liich have been printed in the Englijh Language upon the SubjeSl of Fi- 
 nance^ together with a Lijl of fuch Foreign Public atiom as regard the 
 Revenue of this Empire. 
 
 THERE is no country in Europe in which the fubjedl of Revenue 
 has been fo frequently the topick of difcuffion, as in Great Bri- 
 tain. In France, where no branch of literature is negleded, and where 
 political inveftigations are the particular objects of attention, until of 
 late years, the works on Finances were few in number. In the Cata- 
 logue d'une Bibliotheque d'Economie Politiquey given us by Abbe Morel- 
 let', there are only fixty-nine printed papers which relate either to 
 Revenue in general, or to particular taxes, of which but thirty-fix in all 
 are written in the French language. The Fere Le Long, who has 
 drawn up, in five volumes folio, a complete Lift of every Work regard- 
 ing the Hiftory or Political Situation of France, has increafed the 
 number on Finance to one hundred and eighty-five ; but then forty 
 
 ' In the Profpeflus d'un Nouveau Di£lionnaire de Commerce, printed at Paris aiik 
 1769. 
 
 1 manufcripts
 
 APPENDIX. / 
 
 mamifcripts are included ^ The works refpcding Revenue in the 
 other languages of Europe are not very numerous. Even the Ger- 
 man, fo prolifick with regard to other matters, only poflefles about 
 thirty-five of any real note ; a Lift of which, very obligingly furnifhed 
 to me by the learned and ingenious Comte de Zinzendorf, Prejidcnt 
 de la Chambre des Finances a Vienne^ is added to this part of the Ap- 
 pendix. 
 
 In drawing up the following Catalogue, the mode of arrangement 
 came to be a matter of difficulty. Some would probably have preferred 
 an alphabetical order; but, on the whole, it was thought more advifabie 
 to divide the works according to the fize of the book, and to preferve 
 the order of time, as the beft means of giving a connedled view of the 
 progrefs of this branch ofEnglifh Political Literature. 
 
 It is farther to be remarked, that in addition to the following works, 
 there are many others in the Englifh language where Queftions of Fi- 
 nance are incidentally treated of, and from which much ufeful informa- 
 tion may be obtained ; more efpecially the Journals of the two Houfes, 
 and the Reports of the different Committees appointed by them — the 
 Debates of Parliament — the Traits principally colleded from Lord So- 
 mers's Library — the Harleian Mifcellany — the Craftfman — the Mo- 
 nitor — the Reviews, and other periodical publications — and a variety 
 of books relating to the Principles of Government in general, and to the 
 Hiftory, the Antiquities, the Laws, the Commerce, and Conftitution 
 of this Country in particular. But to enumerate all thefe publications, 
 would be entering into a much wider field than feems to be at all necef- 
 fary, and would require what the Bibliotheca Legum, or the Catalogue of 
 the Common and Statute Law Books of this realm boafts of, namely, i/je 
 experience of forty years, in order to prefent fuch a Lift in the moft eli- 
 gible form to the public '. 
 
 * See Bibliotheque Hiftorique de la France, par Jacques Le Long, torn, fecond. liv, 3. 
 art. 5. A Paris, an. 1769. 
 
 ' See Worrall'.s Bibliotheca Legum, Advertifement to edit. 1777. 
 
 On
 
 APPENDIX. 
 
 On the whole, numerous as this Collection is, feme additions may be 
 made to it; the Author having given only a lift of fuch publications as he 
 has coUedled for his own library, and propofes to make ufe of, fliould he 
 ever be enabled to compofe, what he would confider as the greateft pre- 
 fent that he, or any man could offer to the Public, namely, a com- 
 plete View of the Origin and Progrefs of the Finances of Great Bri- 
 tain from the remoteft Era of our Hiftory to the prefent Time. Should 
 he never be enabled to perfedl fuch a work himfelf, he has at leaft the 
 fatisfadlion of thinking that he has furnifhed any other perfon, who 
 may chufe to attempt it, with information and materials. 
 
 BOOKS.
 
 APPENDIX. 
 
 BOOKS. 
 
 FOLIO. 
 
 1 "PROPOSALS humbly prefented to his Highnefs Oliver, Lord Proteftor of England, 
 JT for the calling to a juft Account all Committee Men, Sequeftrators, Treafurers, 
 
 Excife and Cuftom Commiffioners, and all other Perfons that have been entrufteJ 
 with the Public Revenue. By Thomas Violet, of London, Goldfmith. London, 
 printed An. 1656. 
 
 2 Fodinse Regales ; or, the Hiftory, Laws, and Places of the chief Mines and Mineral 
 
 Works in England, Wales, and the Englifh Pale in Ireland, as alfo of the Mint and 
 Money. By Sir John Pettus, Knt. London, printed An. 1670. 
 
 3 A Difcourfe of the Growth of England in Populoufnefs and Trade fince the Reforma- 
 
 tion. Of the Clerical Revenue, and the fame alTerted to be reafonable and necef- 
 fary here. Of the Neceflity of future Public Taxes for the Support of the Govern- 
 ment and our Religion, &c. &c. by way of Letter to a Perfon of Honor. Lon- 
 don, printed An. 1689. 
 
 4 The Hiftory and Antiquities of the Exchequer of the Kings of England, from the 
 
 Norman Conqueft to the End of the Reign of King Edward the Second. By 
 Thomas Madox, Efq. London, printed An. 171 1. 
 
 5 A Colledion of Treatifes relating to the National Debts and Funds, the firft of them 
 
 dated nth April, 17 17, and the laft Oftober 30th, 17 19. And alfo a Collection 
 of Treatifes relating to the South Sea Stock and Scheme. By Archibald Hut- 
 chefon, Efq. London, printed An. 1721. 
 
 6 An Abftrad of all the Public Debts remaining due at Michaelmas 1722, and an Efti- 
 
 mate of the Annual Sinking Fund towards the Difcharge of the fame. By 
 ^Archibald Hutchefon, Efq. London, printed An. 1723. 
 
 7 Calculations relative to an A£t of Parliament for eftablifhing a Fund to provide for the 
 
 Widows and Children of the Minifters of the Church of Scotland. By the Rev. 
 Dr. Webfter. Edinburgh, printed An. 1748. 
 
 8 The Hiftory of the Public Revenue from the Revolution in 1688, to Chriftmas 1758, 
 
 By James Poftlethwaite, F. R. S. London, printed An. 1759. 
 
 9 Public Accounts of Services and Grants from the Year 1721, to the Year 1770. By 
 
 Sir Charles Whitvvorth. London, printed An. 1771. 
 
 10 Tables fhewing the Value of an Annuity of il. payable quarterly for the Lives of Per- 
 
 fons from 25 to 73 ; together with a propofed Bill relative thereto, for the better 
 Support of poor Perfons, by enabling Parifhes to grant them Annuities for Life. 
 By Francis Maferes, Efq. London, printed (but not publiftied) An 1773. 
 
 11 State of the Trade of Great Britain in its Imports and Exports progreffivel)', from the 
 
 Year 1697. By Sir Charfes Whitworth. London, printed An. 1776. 
 
 12 An Account of the Manors, &c. held by Leafe from the Crown ; together with an 
 
 Appendix, containing the Value of the Land Revenue in Queen Mary's Time, 
 and of the whole Revenue of the Crown in the Reign of Queen Elizabeth. Lon- 
 don, printed An. 1787. 
 
 PAMPHLETS.
 
 lo APPENDIX. 
 
 PAMPHLETS. 
 
 FOLIO. 
 
 1 An Account of the Proceedings of the Houfe of Peers upon the Obfervations of the 
 
 Commiflioners for ftating the Public Accounts. London, printed An. 1702. 
 
 2 A True State of the South Sea Scheme as it was firft formed. London, printed 
 
 An. 1721. 
 
 3 A Letter to a Member of Parliament concerning the Redudion of Intcreft of the Na- 
 
 tional Debts. London, printed An. 1732. 
 
 4 The Golden Fleece. To which is added, a Propofal for taking away many burden- 
 
 fome Duties on fome of the moft elTential Neceffaries in Life, viz. Leather, Soap, 
 Candles, &c. London, printed An. 1733. 
 
 5 Some Confiderations relating to the intended Bank new Contraft, London, printed 
 
 An. 1742. 
 
 6 A State of the Coal Trade to foreign Parts, with Propofalsfor an additional Duty on 
 
 Exportation. London, printed An. 1744-5. 
 
 7 A Letter to the Earl of Bute upon his Union with the Earl of Chatham, in Support of 
 
 the popular Meafure of Four Shillings Land Tax. London, printed An. 1767. 
 
 8 An Account of all Monies which have been iffued and paid out of the Receipt of his 
 
 Majefty's Exchequer. London, printed An. 1769. 
 
 9 The State of the National Debt, the National Income, and the National Expenditure. 
 
 By John Earl of Stair. London, printed An. 1776. 
 10 Reafons for the Reprefentatives of the People of Great Britain to take Advantage of the 
 prefent Rate of Intereft for the more fpeedy lefl'ening the National Debt, and tak- 
 ing off the moft burdenfome of the Taxes. Undated. 
 
 BOOKS. 
 
 0. U A R T O. 
 
 A Treatife of the Laws of the Foreft, wherein is declared not only thofe Laws now'in 
 Force, but alfo the Original and Beginning of Forefts, what Benefit doth grow 
 to the King by the Prefervation of Forefts, &:c. By John Manwood. London, 
 printed An. 1598. 
 
 The Hiftory of the Ancient and Modern Eftate of the Principality of Wales, Dutchy 
 of Cornwall, and Earldom of Chefter. By Sir John Dodridge. London, printed 
 An. 1630. 
 
 The Liberty of the SutjeS: againft pretended Impofitions, &c. By William H,ikewill. 
 London, printed An. 1641. 
 
 The Arguments of the Judges in Mr. Hampden's Cafe, in regard to Ship Money. 
 London, printed An. 1641. 
 
 Legeancia Lugens : or, Loyalty lamenting the many great Mifchiefs and Inconveni- 
 ences which v/ill fatally and inevitably follow the taking away of the Royal 
 Pourveyances and Tenures in Capite and by Knight Service, which being an- 
 cient, and long before the Conqueft, were not then, or are now, any Slavery, 
 public or general Grievance. By Fabian Philipps. London, printed An. 1661. 
 
 6 Reftait-
 
 APPENDIX. 
 
 6 Reflauranda ; or, the Neceffity of public Repairs, by fettling of a certain and royal 
 
 yearly Revenue for the King. By Fabian Philipps, London, printed An. 1662. 
 
 7 The Antiquity, Legality, Reafon, Duty, and Neceflity of Pre-emption and Pourvey- 
 
 ance for the King, or Compofition for his Pourveyance, as they were ufed and 
 taken for the Provifions of the King's Houfehold, the fmall Charge and Burthen 
 thereof to the People, and the many great Mifchiefs and Inconveniences which will 
 follow the taking of them away. By Fabian Philipps. London, printed An. 1663. 
 
 8 Regalas NecelTarium; or, the Legality, Reafon, and Neceffity of the Rights and Pri- 
 
 vileges juflly claimed by the King's Servants, By Fabian Phiiipps. London, 
 printed An. 1661. 
 
 9 England's Improvement by Sea and Land, to out-do the Dutch without Fighting, and 
 
 to pay Debts without Money. In two Volumes. By Andrew Yarrington. Lundon, 
 
 printed An. 1677. 
 10 Tables of Intereft, Difcount, Annuities upon Lives, &c. with Problems as to Compound 
 
 Intereft. By JohnSmart. London, printed An. 1726. 
 ir A new Method of valuing Annuities upon Lives, 5cc. Sec. By Richard Hayes. 
 
 London, printed An. 1727. 
 
 12 The Arguments of Lord Sommers on his giving Judgment in the Bankers' Cafe, 
 
 June 23d, i6g6. London, printed An. 1733. 
 
 13 The Ancient Dialogue concerning the Exchequer, publilhed originally in Latin. By 
 
 Thomas Madox, Efq. London, printed An. 1758. 
 
 14 Political Tracts containing Obfervations on the New Cyder Tax, &c. By 
 
 J. Maffie. London, printed An. 1760. 
 
 15 The Annual Abftracl of the Sinking Furd from Michaelmas 1718, to the lotliof 
 
 October 1763. By a Alember of Parliament. London, printed An. 1764. 
 
 16 An Enquiry into the Principles of Political Economy; being an ElTay on the Science 
 
 of Domeltic Policy in Free Nations, in which are particularly coiifidered. Popu- 
 lation, Agriculture, Trade, Public Credit, Taxes, .Sec. In two Volumes. Ey Sir 
 James Stewart, Bart. London, printed An. 1767. 
 
 17 A Survey of the Britilh Cuftoms, &c. By Samuel Baldwin. London, printed 
 
 An. 1770. 
 
 18 Sketches of the Hiftory of Ma-i, including Confiderations on Taxes, and other Poli- 
 
 tical Subjects. By Plenry Hume, Lord Kaims. In two Volumes. London, 
 printed An. 1774. 
 
 19 Political Survey of Britain ; being a Series of RefleiStions on the Situation, Lands, Inha- 
 
 bitants, Revenues, Colonies, and Commerce of this Ifland. In two Volumes. By 
 John Campbell, LL. D. London, printed An. 1774. 
 
 20 An Enquiry into the Nature and Caufes of ihe Wealth of Nations. In two Volumes. 
 
 By Adam Smith, LL. D. London, printed An. 1776. 
 
 21 The Elements of Commerce, Politics, and Finances. By Thomas Mortimer, Efq. 
 
 London, printed An. 1780. 
 
 22 Original Minutes of the Governor General and Council of Fort William, on the Set- 
 
 tlement and Collection of the Revenues of Bengal, By Philip Francis, Efq. Lon- 
 don, printed An. 1782. 
 
 23 The Principles of the Doctrine of Life Annuities, containing Obfervations oti the 
 
 National Debt, and the moil likely Methods of paying off a Part of it. By Francis 
 Maferes, F. R.S. London, printed An. 1783. 
 
 24 Reports of the CommiiTioners for examining, taking, and ftating the Public Accounts 
 
 of the Kingdom. Three Volumes. London, printed An. 1783, 1785, &c. 
 
 25 The Hiltory of the Public Revenue of the Britiih Empire. By John Sinclair, Efq. 
 
 Parts I. and II. London, printed An. 1785. 
 
 26 The Encreafe of Manufactures, Commerce, and Finance, with the F.xtenfion of Civil 
 
 Liberty, propofed in Regulations for the Intereft of Money. By William Playfair. 
 " London, printed An. 1785. 
 
 C 2 27 The 
 
 It
 
 12 
 
 APPENDIX. 
 
 27 The Commercial and Political Atlas, reprefenting by Means of ftained Copper-plate 
 
 Charts the Exports, Imports, and general Trade of England, together with feme 
 Dbfcrvations oh the National Debt, and on the Operation of a binking Fund of 
 One Million, applied unalienably to its Redudion. By William Playfair. London, 
 printed An. 1785. 
 
 28 Obfcr\ .itions on the Land Revenue of the Crown. London, printed An. 1787. 
 
 29 The Aggrandizement and National Ferfoftion of Great Britain ; an humble Propofal, 
 
 comprehending the Means of paying oft" the Public Debt of Great Britain within 
 the Space of Thirty Years, &c. By George Edwards, M. D. London, printed 
 An. 1788. 
 ;^0 The Elements of Commerce, and Theory of Taxes. By Dean Tucker. Printed, 
 but not publilhed, being intended only for the Infpeition of the Author's Friends. 
 
 PAMPHLETS. 
 
 Q, U A R T O. 
 
 1 The Copy of his Majefty's Letter, fignifying his Highnefs' Pleafure to the Commons 
 
 Houfe of Parliament in the Matter of Subfidy. London, printed An. 1604. 
 
 2 A Declaration of his Majefty's Royal Pleafure in what Sort he thinkcth fit to enlarge or 
 
 refervehimfelf in Matter of Bounty. London, printed An. 1619. 
 
 3 Mittimus to the Jubilee at Rome, or the Rates of the Pope's Cuftom-houfe. London, 
 
 printed An. 1625. 
 
 4 The Cafe of Ship Money briefly difculTed, according to the Grounds of Law, Policy, 
 
 and Confcience. London, printed An. 1640. 
 
 5 A learned and neceffary Argument to prove that each Subjeil: has a Propriety in his 
 
 Goods ; fliewing aUb the Extent of the King's Prerogative in Impofitions upon 
 the Goods of Merchants exported and imported out of and into this Kingdom. 
 London, printed An. 1641. 
 
 6 Sir Thomas Rowe, his Speech at the Council Table touching Brafs Money, with 
 
 many notable Obfervations thereupon, July 1640. London, printed An. 1641. 
 
 7 An humble Remonftr.ince againft the Tax of Ship Money lately impofed. By William 
 
 Prynne, Efq. Written 1636. London, printed An. 1643. 
 
 8 The Vintners' Anfwer to fome fcandalous Pamph'ets regarding the Impwfition laid on 
 
 by the King, Anno 1637. London, printed An. 1642. 
 
 9 Ordinances of the Lords and Commons afiembled in Parliament for the levying of 
 
 Monies by way of Excife, or rieiu Impoji. London, printed An. 1643. 
 
 10 The City Alarm ; whereunto is annexed a Treatife of the Excife. London, printed 
 
 An. 1645. 
 
 11 London's Account; or, a Calculation of the arbitrary and tyrannical Exa£lions, &c. 
 
 during the four Years of this unnatural War; what the total Sum amounts to, &c. 
 Imprinted in the Year 1647. 
 
 12 A Lethal Vindication of the Liberties of England againft illegal Taxes. By William 
 
 Prynne, Efq. London, printed An. 1649. 
 
 1 3 An Abftradl, or Brief Declaration of the prefent State of his Majefty's Revenue. Writ- 
 
 ten in the Rei^n of James L London, printed An. 1651. 
 
 14 Common Good ; or, the Improvement of Commons, Forefts and Chaces by Inclo- 
 
 fu;e. By Silvanus Taylor. London, printed An. 1652. 
 
 15 Lux in Tenebris ; or, a Clavis to the Treafury in Broad-ftreet. London, printed 
 
 An. 1654. 
 
 16 A De-
 
 APPENDIX. 13 
 
 16 A Declaration againft the illegal, deteftable, oft condemned new Tax and Extortion 
 
 of Excife in general, and for Hops (a native uncertain Commodity) in particular. 
 By William Prynne, Efq. London, printed An. 1654. 
 
 17 A Cafe concerning trie Buying of Bifliops' Lands, with the Lawfulnefs thereof. Lon- 
 
 don, printed An. 1655. 
 i8 A true Relation of an Impofition laid by the late King upon the Manufa6lures of Gold 
 and Silver Wire. London, printed An. 1657. 
 
 19 The Charges iffuing forth of the Crown R.evenue of England and Dominion of Wales. 
 
 By Captain Lazarus Haward. London, printed An. 1660. 
 
 20 Offices and Places of Truit not to be bought or fold. London, printed An. 1660. 
 
 21 A Plea for the Sequeftred ; or, a Survey of the Cafe of the Purchafers of public Lands. 
 
 London, printed An. 1660. 
 
 22 No Sacrilidge nor Sin to alienate or purchafe Cathedral Lands, as fuch ; or, a Vindica- 
 
 tion of not only the late Purchafers, but of the ancient Nobility and Gentry; yea, 
 of the Crown itfelf, all deeply wounded by the falfe Charge of Sacrilidge upon new 
 Purchafers. By C. Burgefs, D. D. London, printed An. 1660. 
 
 23 An Anfwer to a Paper, called the Cafe of the Auditors and Receivers of his Majefty's 
 
 Revenue, with a brief Defcription of the ancient Courfe of the Exchequer for 
 bringing in the Crown Revenues. London, printed An. 1662. 
 
 24 Experimented Propofals how the King may have Money to pay and maintain his Fleets 
 
 with Eafe to his People. By Sir Edward Forde. London, printed An. 1666. 
 N. B. This feems to have been the firft Propofal in favour of Paper Credit. 
 
 25 The Ufe and Abufes of Money, and the Improvements of it, whereby his Majefty's Oc- 
 
 cafions may be fupplied. Sic. London, printed An. 167 1. 
 
 26 My Lord Lucas, his Speech upon reading the Subfidy Bill a fecond Time in the Pre- 
 
 fence of his Majefty. Middleburg, printed An. 1673. 
 
 27 The Grand Concern of England explained, in feveral Propofals for Payment of Public 
 
 Debts, &c. &c. London, printed An. 1673. 
 
 28 The Prevention of Poverty, with certain Expedients for encreafing his Majefty's Re- 
 
 venue, by a Method no Way burthenfome, but advantageous to the Subject. By 
 Richard Haines. London, printed An. 1674^ 
 
 29 The Book of Rates now ufed in the Sin Cuftom-houfe of the Church and Court of Rome.. 
 
 By Anthony Egane. London, printed Ah. 1674. 
 
 30 The Cafe of the Bankers and their Creditors more fully ftated and examined. London, 
 
 printed An. 1675. 
 
 31 Propofals to increafe Trade and advance his Majefty's Revenue, without any Hazard 
 
 or Charge to any Body, and with apparent Profit to every Body. By M. Lewis.. 
 London, piinted An. 1677. 
 
 32 Reafons againft a Regiftry for Lands, &c. London, printed An. 1678. 
 
 33 Propofals to the King and Parliament ; or, a large Model of a Bank, ftiewing how a: 
 
 Fund of a Bank may be made without much Charge or any Hazard, that may give 
 out Bills of Credit to a vaft Extent, that all Europe will accept of rather than 
 Money. By Matthew Lewis, D. D. London, printed An. 1678. 
 
 34 Corporation Credit ; or, a Bank of Credit made current by common Confent in Lon- 
 
 don, more ufeful and fafe than Money. London, printed An. 1682. 
 
 35 An Account of the Conftitution and Security of the General Bank of.Credit. Lon- 
 
 don, printed An. 16^*3. 
 
 36 Groans of the Plantations; or, a true Account of their grievous and extreme Suf- 
 
 ferings by the heavy Impofitions upon Sugar. London, printed An. 1689. 
 
 37 Difcourfes upon Trade, principally directed to the Cafes of the Intereft, Coinage,, 
 
 Clipping, and Increafe of Money. London, printed An. 1691. 
 
 38 England muft pay the Piper ; a feafonable Difcourfe about raifing of Money this Sef- 
 
 fion. In a Letter to a Member of the Houfe of Commons. London, printed 
 An. 1694. 
 
 39 A Com-
 
 14 APPENDIX. 
 
 39 A Compendious Hiftory of the Taxes of France, and of the oppreflive Methods of 
 
 raifing them. London, prnted An. 1694. 
 
 40 A Brief Account of the intended Bank of England, London, printed An. 1694. 
 
 41 Angliae Tutamen ; or, the Safetyof England ; being an Account of the Bank?, Lotte- 
 
 ries, Mines, Diving, Draining, Lifting, and other Engines, and many pernicious 
 Projefis now on Foot. By a Ferfon of Honour. London, printed An. 1695, 
 
 42 A Propofal for a National Bank, confifting of Land, or any other valuable Securities 
 
 or Depofitums, with a Grand Cafh for Returns of Money, &c. By Robert Murray. 
 London, printed An. 1695. 
 
 43 Rules, Orders, and Bye Laws for the good Government of the Corporation of the Go- 
 
 vernor and Company of the Bank of England. London, printed An. 1696. 
 
 44 The Arguments and Reafons for and againft cngraftijig upon the Bank of England with 
 
 Tallies, &c. as they were debated in a late General Court of the faid Bank, confi- 
 dered, in a Letter to a Friend. London, printed An. 1696. 
 
 45 The Propofal for the raifing of the Silver Coin of England from 60 Pence in the 
 
 Ounce to 75 Pence confidered, with the Confequences thereof. London, printed 
 An. 1696. 
 
 46 A Difcourfe upon Coins. By Signer Bernardo Davanzati. Trandated out of Italian by 
 
 John Toland. London, printed An. 1696. 
 
 47 Arguments and Materials for a Regifter of Eftates. Suppofed to be written by the 
 
 Hon. Roger North. London, printed An. 1698. 
 
 48 A Letter to a Member of the late Parliament concerning the Debts of the Nation. 
 
 London, printed An. 1701. 
 
 49 The Villainy of Stock Jobbers deteSed, and the Caufes of the late Run upon the 
 
 Bank and Bankers dilcovered and confidered. London, printed An. 1701. 
 
 CO Jus Regium ; or, the King's Right to grant Forfeitures and other Revenues of the Crown, 
 
 fully fet forth, and traced from the Beginning. London, printed An. lyor. 
 
 51 An Eflay concerning the Neceffity of equal Taxef, and the dangerous Confequences 
 
 of the Encouragement given to Ufury among us of late Years. London, printed 
 An. 1702. 
 
 52 The exorbitant Grants of William the Third examined and queftioned. London, 
 
 printed An. 1703. 
 
 53 A Difcourfe concerning Plunder, wherein the Legality of the fame is proved by feveral 
 
 Precedents and Arguments. By Thomas Heflcith. London, printed An. 1703. 
 
 54 A Letter to a new Member of the Houfe of Commons touching the Rife of all the Em- 
 
 bezzlements and Mifmanagements of the Kingdom's Treafure, from the Beginning 
 of the Revolution unto the prefent Parliament. Amflerdam, printed An. 1710. 
 
 55 A View of the Taxes, Funds, and Public Revenues of England. London, printed 
 
 An. 1712. Reprinted An. 1743. 
 
 56 A Scheme for advancing and improving the ancient and noble Revenue of Excife upon 
 
 Beer, Ale, and other Branches. By E. Dennifton, Gent. London, printed 
 An. 1713. 
 
 57 Propofals for a very eafy Tax to raife between two and three Millions of Money per 
 
 Annum (if not a greater Sum^, in the room of the Land Tax, to begin to pay the 
 public Debts, and difcharge the Nation, not only from all thofe Taxes that the two 
 late expenfive Wars have loaded us with, but from all other Taxes that are paid to 
 her Majefly, in a few Years Time, with other happy Confequences that will accrue 
 to the Kingdom in general, if it fhould be laid on and continued. By Ephrainj 
 Parker. London, printed An. 17 13. 
 
 58 An Abftra6l of the Public Funds granted and continued to the Crown fmce the Firft 
 
 of William and Mary, and ftiU exifting. Written by Mr. Afgill. London, 
 printed An. 171 5. 
 5^ A Method that will enable the Government to pay off that Part of the Public Debt 
 which is redeemable by Parliament, in much lefs Time than the prefent Alethods 
 
 will
 
 APPENDIX. 15 
 
 will perform ; together with a Method of raifing Four Millions per Annum, as long 
 as the War (hall laft, by ilTuing Bills of Credit. Printed An. 171 5. 
 
 60 Some Confiderations offered againfl: the Continuance of the Bank of England. In a 
 
 Letter to a Member of the prefent Parliament. London, printed An. 1715. 
 
 61 The Direftors of the Bank of England Enemies to the great Interefts of the Kingdom, 
 
 and alfo not juft to the Truft repofed in them by the Adventurers, who chofe them 
 to do their beft Endeavours by all honefl: Means for the Advantage of the joint 
 Stock. London, printed An. 1715. 
 
 62 The Ruin of the Bank of England and all public Credit inevitable, and the Neceflity 
 
 in a fhort Time of flopping the Payments upon the feveral Funds to the Bank, 
 South Sea Company, Lotteries, &c. London, printed An. 1715. 
 
 63 An Expedient to pay the Public Debts. With a Letter to the King. By Stephen 
 
 Barbier. London, printed An. 17 19. 
 
 64 A General Loan by AA of Parliament ; or, a farther Improvement of the Scheme to pay 
 
 the public redeemable Debts without real new Taxes. London, printed An. 1720. 
 
 65 A Letter to a Member of Parliament, wherein the Unreafonablenefs and Improbability 
 
 of binding down the Redeemables is fully demonftrated. London, printed An. 1721. 
 
 66 The Cafe of John Aiflebie, Efq. regarding South Sea Stock. London, printed An. 172;. 
 
 67 Index Rerum & Vocabulorum, for the Ufe of the Freeholders of Counties ; being a 
 
 Lift of the Subfcribers of the South Sea Stock. London, printed An. 1721. 
 
 68 A State of the National Debt as it flood December 4, 1716, with the Payments made to- 
 
 wards the Difcharge of it out of the Sinking Fund, compared with the Debt at 
 Michaelmas 1725. London, printed An. 1727. 
 
 69 Propofals to raife Ten Millions and Five Hundred Thoufand Pounds a Year. To which 
 
 is added, a Propofal to raife Four Millions at 3 per Cent, or 570,000!. per Year, 
 to pay off the Money borrowed on the Pot Aft, Soap, Candles, &c. without any ad- 
 ditional Tax. By an Officer of the Stamp Duties. London, printed An. 1744. 
 
 70 An Efl'ay on the Caufes of the Decline of the Foreign Trade, confequentlv of the Va- 
 
 lue of the Lands of Britain ; and on the Means to reftore both. Begun in the Ye.ir 
 1739. Suppofed to be written by Sir Matthew Decker. London, printed 
 An. 1744. 
 
 71 Seafonable Confiderations relating to the Smugglers. London, printed An. 1746. 
 
 72 Scheme to fecure and extend the Credit and Strength of the Britifli Nation. London, 
 
 printed An. 1747. 
 
 73 The Valuation of Annuities upon Lives, deduced from the London Bills of Mortality. 
 
 By James Hodgfon, F. R. S. London, printed An. 1747. 
 
 74 A Scheme for preventing a further Increafe of the National Debt, and for reducing the • 
 
 fame. London, printed An. 1756. 
 
 75 A Short Account of fome Particulars concerning Doomfday-Book, with a \'iew to 
 
 promote its being publifhed. London, printed An. 1756. 
 
 76 A Short Account of Danegeld, with fome farther Particulars relative to William the 
 
 Conqueror's Survey. London, printed An. 1756. 
 
 77 A Scheme for raifing of Four Millions FiveHundred Thoufand Pounds, humbly offered 
 
 to the Confideration of the Legiflative Power, and to all good and loyal Subjects of 
 Great Britain ; with another annexed to it, for the Payment of the Annuities that 
 will yearly become payable on that large Sum to be raifed for the public Service ; 
 with other Hints for the raifing of a fufficient Sum for difcharging the fame ; none of 
 which are detrimental to the Public. London, printed An. 1757. 
 
 78 A State of Fa£ts in Defence of his Majefty's Right to certain Fee Farm Rents in the 
 
 County of Norfolk. London, printed An. 1758. 
 
 79 A Propofal for making a Saving to the Public of many Thoufand Pounds a Year in the 
 
 Charge of maintaining his M;-.jefty's iMarine Forces. By J. Maffie. London, 
 printed An. 1758. 
 
 8c Short .
 
 i6 APPENDIX. 
 
 So Short Animadverfioiis on the Difference now fet up between Gin and Rum, and our 
 Mother Country and Colonies. London, printed An. 1760. 
 
 8 1 Reafons humbly offered againft laying any further Tax upon Malt or Beer, {hewing 
 
 that fuch a Tax would not only caufe great Loffes to the Landholders of England, 
 but be prejudicial to feveral Branches of our Manufactures, and prove a Pinchbclly 
 Tax to fome hundred thoufand Families of labouring People. By J. Maffie. Lon- 
 don, printed An. 1760. 
 
 82 A Trcatife upon Perennial Ways and Means, with other Political Tracts. By T. 
 
 Brecknock. London, printed An. 1762. 
 
 83 A Scheme by which great Advantages are propofed for the Government, as well as for 
 
 the People of Great Britain. London, printed An. 1762. 
 
 84 Refledions on Coin in general, on the Coins of Gold and Silver in Great Britain in 
 
 particular, on thofe Metals as Merchandize, and alfo on Paper paffing as Money. 
 London, printed An. 1762. 
 
 85 A Propofal for felling Part of the Foreft Lands and Chaces, and difpofing of the Pro- 
 
 duce towards the Difcharge of that Part of the National Debt due to the Bank of 
 England ; and for the Eftablifliment of a National Bank ; and alfo to defray the 
 extraordinary Expences of any War the Nation (hould hereafter engage in, without 
 borrowing. London, printed An. 1763. 
 
 86 The Cafe of the County of Devon with re(pe£t to the Confequences of the new Ex- ' 
 
 cife Duty on Cyder and Perry. London, printed An. 1763. 
 
 87 The Budget ; infcribed to the Man who thinks himfelf Minifter, By David Hartley, 
 
 Efq. London, printed An. 1764. 
 
 88 The Objections to the Taxation of our American Colonies by the Legiflature of Great 
 
 Britain, briefly confidered. Suppofed to be written by Soame Jenyns, Efq. Lon- 
 don, printed An. 1765. 
 
 89 The State of the Nation ; with a Preliminary Defence of the Budget. London, 
 
 printed An. 1765. 
 
 90 Confiderations on the Trade and Finances of the Kingdom, and on the Meafures of 
 
 Adminiftration with refpefl: to thofe great national Objeils, fince the Conclufion of 
 the Peace. London, printed An. 1766. 
 
 91 The Prefent State of the Nation; particularly with refpe£t to its Trade, Finances, &c. 
 
 &c. Suppofed to be written by the Right Hon. George Grenville. London, 
 printed An. 1768. 
 52 Rational Refults upon the prefent State of the National Debt, with a regular and infal- 
 lible Procefs for difcharging the fame in a very few Years. Newcaftle, printed 
 An. 1769. 
 
 93 Confiderations on the prefent Dearnefs of Provifions and Corn in Great Britain ; with 
 
 Thoughts on a fuitable Remedy, fo as not to opprefs the landed or trading Intereft, 
 or diminifh the Revenue. By Thomas Elbridge Rooke, Efq. Devizes, printed 
 An. 1772. 
 
 94 The Popular Budget. By an experienced Practitioner in Political Anatomy. (Sa- 
 
 muel Clay Harve)', Efq.) London, printed An. 1772. 
 
 95 Confiderations on the A<5t of Parliament, commonly called the Nullum Tempus Act, 
 
 with fome Reafons why fuch a Statute of Limitation ought not to be extended to 
 Ecclefiaflical Perfons. London, printed An. 1773. 
 
 96 An Analyfis of the feveral Bank Annuities from the firft Year of their Creation down 
 
 to the prefent Time, with References to the different A<its pail'ed relative thereto. 
 To which is added, by way of Supplement, a correct Account of the Supplies and 
 Ways and Means voted in the laft Seflion of Parliament! By T. Aflimore. 
 London, printed An. 1774. 
 
 97 Principles of Trade. Freedom and Proteftion are its beft Support, Induftry the only 
 
 Means to render Manufactures cheap. Of Coins, Exchange, and Bounties, parti- 
 cularly the Bounty on Corn. London, printed An. 1774. 
 
 I 98 Confide-
 
 APPENDIX. 
 
 98 ConfiJerations on the Means of preventing fraudulent Pra£lices on the Cold Coin. 
 
 Written by Lord Vifcount Mahon, at Geneva, in 177J. London, printed 
 An. 1775. 
 
 99 Hiftoryof the Colonization of the Free States of Antiquity, applied to the prc-fentCon- 
 
 teft between Great Britain and her American Colonies, v/ith Refleclions concern- 
 ing the future Settlement of thefe Colonies. London, printed An. 1777. 
 
 100 Remarks upon an Efiay, intituled, The Hiftory of the Colonization of the Free States 
 
 of Antiquity. By John Symonds, LL, D. London, printed An. 1778. 
 
 101 Hiftorical Remarks on the Taxation of Free States, in a Series of Letters to a Friend. 
 
 London, printed An. 177S. 
 
 102 Articles of the Univerfal Infiitution for Aifurance on Lives (in Three Parts), calcu- 
 
 lated on a new Principle. London, printed An. 1778. 
 
 103 Obfervations on Smuggling, humbly fubmitted to the Conf.deration of the Right Ho- 
 
 nourable the Hotife of Peers and the Honourable the Houfe of Commons in Par- 
 liament. Printed An. 1779. 
 
 104 The Corn Diftillery ftated to the Confideration of the Landed Intereft of England. 
 
 London, printed An. 1783. 
 
 105 Confiderations on the Advantages of an improved Syftem of Finance, calculated to 
 
 raife a great and produ<rtive Revenue, adequate to the prefiing Necellities of the 
 State, and to prevent the ruinous Confequences of taxing the Aianufadtures of Great 
 Britain in their Progrefs to Maturity. London, printed An. 1785. 
 
 106 Letter on the Bill for efl-ablifhing and applying an unalienable Sinking Fund for di{- 
 
 charging the Public Debt. London, printed An. 17536. 
 
 107 Obfervations on Mr. Pitt's Plan for the Reduction of the National Debt. By Charles 
 
 Earl Stanhope, F. R. S. London, printed An. 1786. 
 
 108 Addrefs to the Stockholders, with a Propofal for the Amendment and better Security 
 
 of their funded Property. London, printed An. 1786, 
 
 109 A Letter from A'lr. Pigot to tlie Right Honourable Willi'am Pitt, on theNecefSty and 
 
 Advantage of a Taxation on the Public Funds. London, printed An. 1786. 
 
 1 10 A Second Letter from Mr. Pigot to the Right Honourable \Villiam Pitt, on the Necef- 
 
 fity and Advantage of a Taxation on the Public Funds. London, printed An. 1787. 
 
 1 1 1 An Effay on the National Debt, with Copper-plate Charts, for comparing Annuities 
 
 ■with perpetual Loans. By William Playfair. London, printed An. 1787. 
 
 112 An Explanation of the miftaken Prin<:iple on which the Commutation Act was 
 
 founded, and the Nature of the Mifchiefs which muft follow from a Perfeverance in 
 it, in a fecond Addrefs to the Public, By Thomas Bates Rous, Efq. London, 
 printed An. 1788. 
 
 113 Obfervations relative to the Taxes upon Windows or Lights ; a Commutation of thefe 
 
 Taxes being alfo fuggefted, and a Tax aflefTed from the internal Capacioufnefs or 
 Tonnage of Houfes, pointed out as a more eligible Mode of Taxation. By John 
 Lewis De Lolme, LL. D. London, printed An. 1788. 
 
 114 Reafons humbly offered to the Honourable Houfe of Commons for tranflating the 
 
 Duty of Excife from Malt Drinks to Malt, whereby may be advanced to the Crown 
 above Twenty Millions for carrying on the War againfl France. By Robert 
 Murray, Gent. (Undated ) 
 
 1 15 Some Confiderations about the moft proper Way of railing Money in the prefent 
 
 Conjundlurc. (Undated.) 
 
 17 
 
 D BOOKS.
 
 i8 APPENDIX. 
 
 BOOKS. 
 
 OCTAVO et INFRA. 
 
 1 Confiderations for regulating the Fxchequer, in the more timely anfwcring, better huf- 
 
 banding, and more orderly and fafe Conduft of the Revenues of the Crown, into his 
 Majefty's Coffers. By C.Vernon. London, printed An. 1642. 
 
 2 The Standard of F.qualitie in fublidiary Taxes and Payments ; or, a juft and ftrong 
 
 Preferver of public Liberty. London, printed An. 1647. 
 
 3 A Catalogue of the Lords, Knights, and Gentlemen that have compounded for their 
 
 Fftates. London, printed All. 1655. 
 
 4 The (^eftion concerning Impofitions, Tonnage, Poundage, Prizage, Cuftoms, Sec, 
 
 fully ftated and argued from Reafon, Law, and Policy. By Sir John Davies. 
 London, printed An. 1656. 
 
 5 The Rights of tiie People concerning Impofitions ftated, with a Remonftrance prefentcd 
 
 to the King's Moll: Excellent Majefty by the Honourable Houfc of Commons, 
 Anno 1610. By a late eminent Judge of this Nation. London, printed An. 1658. 
 
 6 Cottoni Pofthuma. IJivers choice Pieces of that renowned Antiquary, Sir Robert 
 
 Cotton, Bart. By J. H. Efq. London, printed An. 1672. 
 
 7 A Difcourfe of the Rife and Power of Parliaments, of Laws, of Courts of Judicature^ 
 
 of Liberty, &c. Szc. of Taxes, and of Trade, in a Letter from a Gentleman in the 
 Country to a Member of Parliament. London, printed An. 1677. 
 
 8 A Vindication of the Cafe relating to Greenwax Fines, fhewing how the Rights and 
 
 Prerogatives of the Crown are diminifhed, Officers enriched, and the Subjedts op- 
 preffed, by the Mifmanagement of that Revenue. London, printed An. 1684. 
 f) The Hiflory of the Original and Progrefs of Ecclefiaftical Revenues. Tranflated from 
 the French. London, printed An. 1685. 
 
 10 The Afllirance of Abbey and other Church Lands in England to the Pofleflbrs, cleared 
 
 from the Doubts and Arguments raifed about the Danger of Refumption, in Anfwer 
 tea Letter of a Perfon of Quality. By Nathaniel Johnfton, M.D. London, printed 
 An. 1687. 
 
 1 1 A Compendium of the feveral Branches of Praftice in the Court of Exchequer at Weft- 
 
 minfter. London, printed An. 1688. 
 
 12 A Difcourfe on the late Funds of the Million Aft, Lottery A£t, and Bank of England, 
 
 together with Propofals for fupplying their Majefties with Money on eafy Terms 
 by a National Land Bank. By JohnBrifcoe. London, printed An. 1696. 
 
 13 The prefent State of England as to Coin and public Charges, in three Parts. By 
 
 J. H. London, printed An. It97. 
 
 14 An Effay upon Projects. By Daniel De Foe. London, printed An. 1697. 
 
 15 Arcana Imperii Deteda ; or. Divers Seleft Cafes in Government. Said to have been 
 
 tranflated by Dr. D'Avenant London, printed An. 1 7c I. 
 
 16 A Treatife of the juft Intereft of the Kings of England in their free difpofing Power, 
 
 and the Validity of their Grants made to any of their Subjedls. Suppoied to be 
 written by Lord Chief Juftice Hales, Anno 11357. London, printed An. 1703. 
 
 17 Chronicon Preciofum ; or, an Account of Englifh Money, the l^ricc of Corn, and 
 
 other Commod tits, for the laft Six Hundred Years. By Bifhop Pleetwood. Lon- 
 don, printed An. ^707. 
 
 18 New Dialogues upon the prefent Pofture of Affairs,, the Species of Money, National 
 
 Debts, Public Revenues, bank and Eaft India Company,, and the Trade now car- 
 ried
 
 APPENDIX. 19 
 
 lied on between France and Holland. In two Volumes. Said to be written by 
 Dr. D'Avenant. London, printed An. 1710. 
 
 19 A Treatife on the Rights of the Crown, declaring how the King of England may fup- 
 port and increafe his annual Revenues. By William Noy, Efq. Anno 1 634- 
 London, printed An. 171 5. 
 
 ZO A Digeft of all the Laws relating to the Cuftoms, to Trade and Navigation ; with a 
 fliort Hiflorical Diflertation concerning the Nature, Extent, and Method of Col- 
 lection of the ancient Revenue of the Crown. By Samuel Forfter, Efq. London, 
 printed An. 1727. 
 
 2r The Royal Treafury of England ; or, a General Hiftory of Taxes from the Conquefl 
 to the prefent Time. By Captain John Stevens. London, printed An. 1728. 
 
 22 An Eflay to afcertain the Value of Leafes and Annuities for Years and Lives ; with 
 
 Obfervations on the State of the Coin, the In.tereft of Money, and the Price of 
 Things in different Ages, &c. By William Lee. London, printed An. 1737. 
 
 23 An Hiftorical View of the Court of Exchequer, and of the King's Revenues there. 
 
 By a late learned Judge. London, printed An. 1738. 
 
 24 The Doctrines of Annuities and Reverfions, deduced from general and evident Prin- 
 
 ciples ; with ufeful Tables, {hewing the Value of fingle or joint Lives, &c. By 
 ^ homas Simpfon. London, printed An. 1742. 
 
 25 The Hiftory of our National Debts and Taxes, from the Year 1688 to the prefent Year 
 
 1751. London, printed An. 1751. 
 
 26 A CoUeftion of Tradls. By the late John Trenchard and Thomas Gordon, Efqrs. 
 
 In two Volumes. London, printed Aru 1751. 
 ■27 Money and Trade confidered, with a Propofal for fupplying the Nation with Money. 
 Firft publifliedat Edinburgh, An. 1705, by the celebrated John Law, Efq. Glaf- 
 gow, printed An. 1750. 
 
 28 The Querift ; or. Several Queries propofed to the Confideration of the Public. By the 
 
 Bifhop of Cloyne, Glafgow, printed An. 1751. 
 
 29 Annuities on Lives ; with feveral Tables, exhibiting at one View the Value of Lires 
 
 for different Rates of Intereft. By A. De Moivre. London, printed An. 1752. 
 
 30 Great Britain's True Syftem ; wherein is clearly fhewn, that an Increafe of the public 
 
 Debts and Taxes muft in a few Years prove the Ruin of the Monied, the Trading, 
 and the Landed Interefts, &c. By Malachy Poftlethwayt, Efq. London, printed 
 An. 1757. 
 
 31 The Britifti Cuftoms, containing an Hiftorical and Praftical Account of each Branch 
 
 of that Revenue. By Henry Saxby. London, printed An. 1757. 
 
 32 An Eflay upon Money and Coins, Part I. contains the Theory of Commerce, Money, 
 
 and Exchanges. Part II. wherein is fhewed, that the eftabliftied Standard of Mo- 
 ney ftiould not be violated or altered under any Pretence whatever. By Mr. 
 Harris, London, printed An, 1757 and 8. 
 
 33 A Treatife on the Court of Exchequer; in which the Revenues of the Crown, the Man- 
 
 ner of receiving and accounting for the feveral Branches of them, the Duty of the 
 feveral Officers employed in the Colleaion and Receipt, the Nature of the ProcefTes 
 for the Recovery of Debts due to the Crown, are clearly explained ; as alfo the 
 Nature of the Feudal and other ancient Tenures, &c, &c. By Lord Chief Baron 
 Gilbert. London, printed An, 1758. 
 
 34 Smuggling laid open in all its extenfive and deftru£live Branches, with Propofals for the 
 
 effectual Remedy of that mofl- iniquitous Praflice. London, printed An. 1763. 
 
 35 A CoUedion of the Supplies and Ways and Means, from the Revolution to the prefent 
 
 Time. By Charles Whitworth, Efq. M. P. London, printed An. 1765. 
 
 36 A General View of England, refpedling its Policy, Trade, Commerce, Taxes, Debts, 
 
 Produce of Lands, Colonies, &c. &c. argumentatively ftated, from the Year i6co 
 to 1762. Tranflated from the French. London, printed An. 1766. 
 
 D 2 37 Trafts
 
 so APPENDIX. 
 
 37 Trails chiefly relating to Ireland, containing a Treatife of Taxes, Contributions, &C, 
 
 By the hite Sir William Petty. Dublin, printed An. 1769. 
 
 38 An Ell'ay on Trade and Commerce, containing Obfcrvations on Taxes, as they are 
 
 fuppofed to affecl the Price of Labour in our ManufaiSlories ; together with fomc 
 Reflc<5tions on the Importance of our Trade to America, &c. &c. Loudon, 
 printed An. 1770. 
 
 3g An EfTay on the Theory of Money. London, printed An. 1771. 
 
 4.0 Confiderations on the Policy, Commerce, and Circumftances of the Kingdom. Lon- 
 don, printed An, 177 I. 
 
 41 Calculations deduced from Firft Principles, for the Ufe of the Societies inftitnted for 
 
 the Benefit of Old Age. Londoji, printed An 1772. 
 
 42 Tables for Buying and Selling of Gold. By Samuel Etheridge. London, printed 
 
 An. 1773. 
 
 43 Political Arithmetic j containing Obfervations on the prefent State of Great Britain, 
 
 and the Principles of her Policy iti the Encouragement of Agricidture. By Ar- 
 thur Young, Efq. F. R. S. London, [irinted An. 1774. 
 
 44 Schemes offered for the Pcrufal and Confidcration of the Legiflature and Public in ge- 
 
 neral, (hewing the many Evils that might be prevented, and the Good that would 
 accrue to the Public, were they improved and enafted into Laws ; together wiiii 
 Hints relative to a Dog Tax. By C. Varlo, Efq. London, printed An. 1775. 
 
 45 The Hillory of the Cuftoms, Aids, Subfidies, National Debts and Taxes of England, 
 
 from William the Conqueror to the prefent Year 1778. By T. Cunningham, 
 Efq. London, printed An. 17781 
 
 46 TwoTrntSts on Civil Liberty, the War with America, and the Debts and Finances of 
 
 theKiiigdom. By Richard Price, D. D. F. R. S. London, printed An. 1778. 
 
 47 The IMeteffity and Expediency of an Aflbciation of Merchants to oppofc and get Re- 
 
 drefs of many Abufes arifing from Cuftom-houfe Officers, Sec. London, printed 
 An. 1779. 
 
 48 I he Doftrine of Annuities and Afiurances on Lives and Survivorfhips dated and ex- 
 
 plained. By W'illiam Morgan. London, printed An. 1779. 
 
 49 Letters to the Earl of Carlifle from William Eden, Efq. or- the public Debts, public 
 
 Credit, and the Means of raifmg Supplies, 6ic. &c. London, printed An. 1780. 
 
 50 A Treatife on Military Finance ; containing the Pay, Subfiftence, Deductions, and 
 
 Arrears of the Forces on the Britifli and Irifli Eftablilbments, Sec. London, 
 printed An. 1782. 
 
 51 A compleat Abridgement of the Statutes relating to the Stamp Duties, alphabetically 
 
 digciled. London, printed An. 1783. 
 
 52 Tables, forn-.ed on a new and eafy Principle, for calculating the Value of Stocks and 
 
 Annuities ; to which is fubjoined, a Comparative View of the Funds, with the 
 Rate per Cent, made of Money inverted therein. By William Blcwert. Londou, 
 printed An. 1783. 
 
 53 Obfervatisns on Rev«rfionary Payments, on Schemes for providing Annuities for Wi- 
 
 dows and for Perfons in Old Age, and on the National Debt, &c. In two Vo- 
 lumes. By Richard Price, D. D. F- R. S. London, printed An. 1783. 
 
 54 Eflays and Treatifes on feveral Subjefls ; including Obfervations on Taxes and on 
 
 public Credit. In two Volumes. By David Hume, Efq. London, printed 
 An. 1784. 
 
 55 Obfervations on the Wealth and Force of Nations, &c. &c. By Charles M'Kinnon, 
 
 Efq. Edinburgh, printed An. 1785. 
 
 56 A Treatife on the Adminiftration of the Finances of France. In three Volumes. By 
 
 M.Neckar. Tranllated from the French by Thomas Mortimer, Efq. London, 
 printed An. 17S5. 
 
 57 Every Man his own Broker ; or, a Guide to Exchange Alley : in which the Nature of 
 
 the feveral Funds is clearly explained. Alfo, an Hiitorical Account of the Origin, 
 
 Progrefs,
 
 ■APPENDIX. - 21 
 
 Progrefs, and prefent State of Public Credit, of the National Debt, &c. By Thomas 
 Mortimer, Efq. London, printed An. 1785. 
 58 A Collection of fcarce and intereiling Trafts, written by Perfons of Eminence, upon 
 the moil important Political and Commercial Subje>Ets during the Years 1763, 
 1764, 1765, 1766, 1767, 1768, 1769, and 1770. In four Volumes. London, 
 printed An. 1788. 
 
 PAMPHLETS. 
 
 OCTAVO et INFRA. 
 
 1 The Myftery of the Good Old Caufe briefly unfolded, in a Catalogue of fuch Members 
 
 of the late [Long Parliament that held Offices both Civil and Military; toge- 
 ther with the Sums of Money and Lands which they divided among themfelves 
 during their Sitting, &c. &c. London, printed An. 1660. 
 
 2 A Short Model of the Bank, fhewinghowa Bank maybe erected without much Trou- 
 
 ble, and without any Charge or Hazard to any Body, &c. Sec. By M. Lewis,. 
 D. D. London, printed An. 1678. 
 
 3 England's Glory; or, the great Improvement of Trade in general by a Royal Bank, 
 
 or Office of Credit, to be eredted in London. By H. M. London, printed 
 An. 1694. 
 
 4 Propofals to increafe Trade by Way of a Lumber Office. London, printed An. 1694. 
 
 5 Remarks upon the Act of Tonnage relating to the Bank. London, printed An. 1694. 
 
 6 An Eflay towards carrying on the prefent V/ar againft France ; alio for paying off all 
 
 Debts contrafted in the fame, or otherwife. Sec. By John Blackwell. London, 
 printed An. 1695. 
 
 7 A Reply to the Defence of the Bank, fetting forth the Unreafonablenefs of their flow 
 
 Payments. To which is added, the Mifchiefs that attend the Buying and Selling 
 Bank Notes, &c. London, printed An. 1696. 
 
 8 Several Affertions proved, in order to create another Species of Money than Gold and 
 
 Silver. London, printed An. 1696. 
 
 9 An Efiay towards the Settlement of a National Credit in the Kingdom of England. 
 
 By John Cary. London, printed An. 1696. 
 
 10 An Eflay upon the Excifeing of Malt, as alfo the prefent Cafe of Tallies confidered. By. 
 
 A. Burnaby. London, printed An. 1696. 
 
 11 A Letter to a Member of the Honourable Houfe of- Commons, in Anfwer to three 
 
 Queries : i . Whether there is no other Caufe of our Want of Bullion and Coin 
 but the Clipping of our Money, and the Expence of the War, &c. iStc. London, 
 printed An. 1697. 
 
 12 Remarks upon wrong Computations contained in a late Tra£Vj entitled, Difcourfes on 
 
 the Public Revenues, and on the Trade of England. London, printed An. 169s.' 
 
 13 The Conftitution of the Office of Land Credit, declared in a Deed. By Hugh Cham- 
 
 berlen, M. D. &c. London, printed An. 1698. 
 
 14 A Dialogue between a Member of Parliament, a Lawj'er, a Freeholder, a Shopkeeper, 
 
 and a Farmer; or. Remarks on the Badnefs of our Market, &c. &c. London, 
 printed An. 1703. 
 
 15 Remarks upon the Bank of England, with regard more efpecially to our Trade and 
 
 Government, occafioned by the prefent Difcourfe concerning the Prolongation of 
 the Bank. By a Merchant of London. London, printed An. 1705. 
 
 16 Reafons ofl:ered againft the Continuance of the Bank, in a Letter to a Member of Par-- 
 
 liament. LonJon, printed An. 1707.. 
 
 I. 17 An:
 
 42 APPENDIX. 
 
 17 An Eflay upon Public Credit ; being an Enquiry how the Publ'ic Credit comes to de- 
 pend upon the Change of the Miniftry, or the Dlflolution of Parliaments, See, he, 
 London, printed An. 1710. 
 
 t8 a Vindication of the Faults on both Sides, from the Rcflcdltons of the Medley, the 
 Specimen Maker, and a Pamphlet, entitled, Mod Faults on one Side ; with a Dif- 
 fertation on the Nature and Ufe of Money and Paper Credit, &c. &c. London, 
 printed An. 17 10. 
 
 19 An ElTay towards the Hiftory of the lafl: Miniftry and Parliament ; containing Seafon- 
 
 able Reflections on Public Credit, ?<.c. &c. London, printed An. 17 10. 
 
 20 The Re-reprefentation ; or, a modeft Search after the great Plunderers of the Nation, 
 
 &c. London, printed An. 17 II. 
 
 2 1 The Taxes not grievous, and therefore not a Reafon for an unfafe Peace. London, 
 
 printed An. 171 1. 
 
 22 A CoUedion of fcarce and valuable Papers, containing fome Remarks upon, andlnftances 
 
 of, the Ufages of former Parliam.ents in relation to Taxes. London, printed 
 An. 1712. 
 
 23 The Confequences of a Law for reducing the Duties upon French Wines, Brandy, 
 
 Silks and Linen, to thofe of other Nations. London, printed An. 17 13. 
 
 24 The State and Condition of our Taxes confidered j or, a Propofal for a Tax upon 
 
 Funds. London, printed An. 17 14. 
 
 25 An Effay upon Credit ; being a Propofal for the immediate and entire Payment of the 
 
 Public Debts, and raifing the Credit of the Nation. By Edward Leigh, Efq. 
 London, printed An. 17 15. 
 
 26 Fair Payment, no Spunge ; or, fome Confiderations on the Unreafonablenefs of refu- 
 
 fmg to receive back Money lent on public Securities, and tlie Neceflity of fetting 
 the Nation free from the jnfupportable Burthen of Debt and Taxes. London, 
 printed An. 1717. 
 9,7 A Summary of all the Religious Houfes in England and Wales, with their Titles and 
 Valuations at the Time of their DifFolution, and a Calculation of what they might 
 be worth at this Day. London, printed An. 17 17. 
 
 28 Efl'ays on the National Conftitution, Bank, Credit, and Trade. London, printed 
 
 An. 1717. 
 
 29 An Account of all the Gold and Silver Coins ever ufed in England, particularly of their 
 
 Value, Finenefs, &c. and the Standards of Gold and Silver in all the rcfpeiStive 
 Reigns for the laft Six Hundred Years, &c, London, printed An. 1718. 
 
 30 Remarks upon a late ingenious Pamphlet, entitled, A Short but Thorough Search into 
 
 what may be the real Caufe of the prefent Scarcity of our Silver Coin ; wherein 
 fome Miftakes of that Author are endeavoured to be removed, and a Remedy pro- 
 pofed that cannot fail to make it become Plenty again. London, printed An. 
 1718. 
 
 31 A Letter to Archibald Hutchefon, Efq. fhewing the Infufficiency of his Scheme forthe 
 
 Payment of the Public Debts. To which is added, a Scheme concerning the Re- 
 duflion of the Debts. London, printed An. 17 18. 
 
 32 Two Letters to a Member of Parliament concerning the Public Debts, as they were 
 
 printed and delivered to the Members of the Houfe of Commons on Occafion of his 
 Alajerty's Speech concerning the Redudion of the Public Debts. London, printed 
 An. 1718. 
 
 33 An Eflay upon Credit ; being a Propofal for the immediate and entire Payment of the 
 
 Public Debts, and raifing the Credit of the Nation, contained in a Scheme of Ma- 
 nagement of ExcJicquer Credit by the prefent Funds, without any new Tax or Im- 
 pofition. By Edward Leigh, Efq. London, printed An. 17 19. 
 
 34 Reafons humbly offered againit the intended Duty to be laid on Plate, and the Altera- 
 
 tions of the Standard, in a Letter to a Member of Parliament. By a Working Sii- 
 verfmith. London, printed An. 1720. 
 
 35 An
 
 APPENDIX. 23 
 
 35 An Appeal to Common Senfe ; or, fome Confiderations offered to reftore Public Credit. 
 
 By Erafnus Philips. Lorrdon, printed An. 1720. 
 
 36 The Cafe of the Annuitants (*ated, aid co npar^d with other Creditors of the Govern- 
 
 ment ; w.th fome Remarics on a i-'amphlet regarding oouth Sea Stock. London, 
 printed An. 172c. 
 
 37 The N '.tion preferved, or the Plot difcovered ; containing an impartial Account of the 
 
 fecret Policy of fome of the South Sea Diredlors, with Copies of their Leiters to 
 each other, Sec, AddrefFed to Sir J. B. London, printed An. 1720. 
 
 38 The South Sea Scheme confidered, in a Letter to the Right Honourable Robert Wal- 
 
 pole, Efq. London, printed An. 1720. 
 
 39 An Fifay for difcharging the Debts of the Nation by Equivalents, in a Letter to the 
 
 Right Honourable Charles Farl of Sunderland. London, printed An. 1720. 
 , 40 The South Sea Scheme examined, and the Reafonablenefs thereof demonftrated. 
 London, printed An. 1720. 
 
 41 Three Letters relating to the South Sea Company and the Bank. By James Milner, 
 
 Efq London, printed An. 1720. 
 
 42 A Nation a Family, being the Sequel of the Crifis of Property ; or, a Plan for the 
 
 Lnprovement of the South Sea Propofal. By Sir Richard Steele, Knt. M. P. 
 London, printed An. 1720. 
 
 43 An Anfwer to feveral Queries relating to the Propofal for Payment of the Public 
 
 Debts, for Relief of the South Sea Company, and for Eafing the Nation of the 
 Land and Malt Taxes. By Sir Humphrey Mackvvorth. London, printed 
 An. 1720, 
 
 44 An Effay for eftablilhing a new Parliament Money ; with fome Thoughts for the Sei- 
 
 viceof the South Sea Company. London, printed An. 1720. 
 
 45 Britain's Scheme to make a new Coin of Gold and Silver, to give in Exchange for 
 
 Paper Money and South Sea Stock, &c. By Charles Povey, Gent. London, 
 printed An. 1 720. 
 
 46 A Letter to a Member of Parliament, occafioned by the South Sea Company's Scheme 
 
 for reducing the Public Debts. London, printed An. 1720. 
 
 47 The Proceedings of the late Directors of the South Sea Company, from their Propofal 
 
 for taking in the Public Debts, to the Choice of new^Direftors. London, printed 
 An 1720. 
 
 48 A Letter to a Friend, concerning the Propofals for the Payment of the Nation's 
 
 Debts. London, printed An. 1720. 
 
 49 Confiderations on the prefent State of the Nation as to Public Credit, Stocks, the 
 
 Landed and Trading Interefts ; with a Propofal for the fpeedy lelTening of the 
 Public Debts, &:c. London, printed An. 1720. 
 
 50 The Syftem, or Theory of the Trade of the World. By Ifaac Gervaife. London, 
 
 printed An. 1720. 
 
 51 A Propofal for paying off the Public Debts by the appropriated Funds, without raifing 
 
 any Taxes upon Land, Malt, or other Things for that Purpofe, &c. London, 
 printed An. 1720. 
 
 52 The prefent State of the French Revenues aiid Trade, &:c. London, printed An. 
 
 1720. 
 
 53 The Chimera ; or, the French Way of paying National Debts laid open : being an 
 
 impartial Account of the Proceedings in France for raifmg a Paper Credit, and fet- 
 tling the Miflilfippi Stock. London, printed An. 1720. 
 
 54 The prefent State of the Britifli Credit confid&red, in a Letter to William St r, Eiq. 
 
 M. P. London, printed An. 1720. 
 
 55 The prefent Management of the Cuftoms ; being a DetetSlion of grand Frau !s in that 
 
 Branch of his Majefty's Royal Revenue, iic. &c. By Robert Logan, Gent. 
 London, printed An. J720. 
 
 56 Now
 
 i^ APPENDIX. 
 
 tB Now or Never ; or, a Familiar Difcourfe concerning the two Schemes for reftoring 
 National Credit. ByR. M. Efq. London, printed An. 172 1. 
 
 57 A Propofal for relieving the prefent Exigencies of the Nation by a Land Credit. By 
 
 Middleton Walker. London, printed An. 1721. 
 
 58 The Cafe of the Borrowers on the South Sea Loans ftated. London, printed An. 
 
 1721. 
 
 59 A True State of the Contracts relating to the third Money Subfcription taken by the 
 
 South Sea Company. London, printed An. 1721. 
 
 60 The Screen removed, in a Lift of all the Names mentioned in the Report of the Com- 
 
 mittee of Secrecy, with the Sums wherewith they are charged, in relation to South 
 Sea Stock. London, printed An. 1721. 
 ■61 An EiTay towards reftoring Public Credit, humbly offered to the Confideration of the 
 Honourable Houfe of Commons. London, printed An. 1721. 
 
 62 The Pvife of the Stocks the Ruin of the People, plainly demonftrated in three Letters to 
 
 a Member of Parliament, wherein is contained a ftiort Scheme for the real reducing 
 of the Public Debts. London, printed An. 1721. 
 
 63 A Letter to the Governor of the Bank of England. London, printed An. 1722. 
 
 64 The Nature and Weight of the Taxes of the Nation, &c. <kc. London, printed 
 '■' An. 1722. 
 
 65 The Intereft of Great Britain confidered ; or, the Herring Fifliery propofcd as the 
 
 molt rational. Expedient for paying our National Debts. London, printed 
 An. 1723. 
 
 66 An Efl'ay on Public Induftry; or, a Scheme humbly offered for the Encreafe of our 
 
 Manufaftures, &c. &c. with an Expedient for aiifwering the Exigencies of Go- 
 vernment without Public Lotteries, and a Propofal for Payment of the National 
 Debt. London, printed An. 1724. 
 
 67 The State of the Nation in refpecl to her Commerce, Debts, and Money. London, 
 
 printed An, 1725. 
 
 68 An EfTay on the Public Debts of this Kingdom, wherein the Importance of difcharging 
 
 them is confidered, &c. &c. in a Letter to a Member of the Houfe of Commons. 
 By Pulteney Earl of Bath. London, printed An. 1726. 
 
 69 Remarks on a late Book, entitled. An Eflay on the Public Debts of this Kingdom, Sec, 
 
 in a Letter to a Member of the Houfe of Commons. London, printed An. 1727. 
 
 70 A Defence of an EfTay on the Public Debts of this Kingdom, in Anfwer to a Pamphlet, 
 
 entitled, A State of the National Debt. By the Author of the EfTay. London, 
 printed An. 1727. 
 
 71 Some Confiderations on the National Debts, the Sinking Fund, and the State of Public 
 
 Credit. In a Letter to a Friend in the Country. London, printed An. 1729. 
 
 72 An Honeft Sclreme for improving the Trade and Credit of the Nation, &c. and for 
 
 paying the Public Debts. London, printed An. 1729. 
 
 73 Two Propofals for raifing One Million Two Hundred and Fifty Thoufand Pounds for 
 
 the current Service of the Year 1729 ; and for appropriating the Produce of the 
 Sinking Fund. London, printed An. 1729. 
 
 74 A Letter from a Hawker and Pedlar in the Country, to a Member of Parliament at 
 
 London. London, printed An. 1731. 
 
 75 The National Debt, as it flood at Michaelmas 1730, ftated and explained. London, 
 
 printed An. 1731. 
 
 76 A Scheme for Payment of the Sum of j^. 49,301,855 6 if, being the National Debt of 
 
 Great Britain, as itftood the 31ft of December, 1730, in a few Years, without any 
 additional Tax on the Subject. London, printed An. 1732. 
 
 77 The original Plan, Progrefs, and prefent State of the South Sea Company. Publilhed 
 
 from the original Manufcripts of John PuJlen, Efq. late Governor of Bermudas. 
 London, printed An. 1732. 
 
 78 The
 
 APPENDIX. 15 
 
 78 The Cafe of the Revival of the Salt Duty fully ftated and corJidered, in Anfwer to 
 
 a late Pamphlet, entitled, " A Letter to a Freehoider on the late Reduiftion of the 
 " Land Tax to One Shilling in the Pound." In a Letter from a Member of Par- 
 liament to a Gentleman in the Country. London, printed An. 1732, 
 
 79 Some General Confiderations concerning the Alteration and Improvement of the Pub- 
 
 lic Revenues. London, printed An. 1733. 
 
 80 French Excife ; or, a compendious Account of the feveral Excifes in France, and the 
 
 opprefllve Methods ufed In colleftlng them. London, printed An. 1733. 
 
 81 Confiderations occafioned by the Craftfman upon Excifes. London, printed An. 1733. 
 
 82 Some Obfervations upon a Paper, intituled, The Lift ; that is, of thofe who voted for 
 
 and againft the Excife Bill. London, printed An. 1733. 
 
 83 The Genuine Thoughts of a Merchant ; fhewing, that in all the Libels, Remon- 
 
 ftrances, and pretended Letters againft a new Method of levying the Duti<:s on 
 Tobacco and \VIne, there is not fo much as one Word worth anfwering. London, 
 printed An. 1732-3. 
 
 84 Excife anatomized, declaring the unequal Impofition of Excife to be the only Caufe of 
 
 the Ruin of Trade, Szc. Sec. London, printed An, 1733. 
 
 85 Remarks on Fog's Journal of February loth, 1732-3, exciting the People to an Aflaf- 
 
 fination. London, printed An. 1733. 
 
 86 The Rep'.y of a Member of Parliament to the Mayor of his Corporation. London, 
 
 printed An. 1733. 
 
 87 A Letter from a Member of Parliament to his Friends in the Country, concerning the 
 
 Duties on Wine and Tobacco. London, printed An. 1733. 
 
 88 A Letter from a Merchant of London to a Member of Paillament, in Anfwer to a 
 
 Letter from a Member of Parliament to his Friends in the Country, concerning 
 the Duties on Wine and Tobacco. London, printed An. 1733. 
 
 89 The Budget opened ; or, an Anfwer to a Pamphlet, entitled, A Letter from a Mem- 
 
 ber of Parliament to his Friends in the Country concerning the Duties on Wine, 
 and Tobacco. London, printed An, 1733. 
 
 90 An Anfwer to the Confiderations occafioned by the Craftfman upon Excife, fo far as it 
 
 relates to the Tobacco Trade. London, printed An. 1733. 
 
 91 The Rife and Fall of the late projeited Excife impartially conlidereJ. London, printed 
 
 An. 1733. 
 
 92 A Review of the Excife Scheme, In Anfwer to a Pamphlet, entitled. The Rife and Fall 
 
 of the late projeiffed Excife Impartially confidered, &c. London, printed An. 1 733. 
 
 93 Refle£lions upon a Pamphlet, entitled, Obfervations upon the Laws of Excife. Lon- 
 
 don, pr'uiud An. 1733. 
 
 94 An Appeal to the Landholders, concerning the Reafonablenefs and general Banefrt of 
 
 an Excilc upon Tob.iccu and Wine, London, printed An. 1733. 
 
 95 A Letter from a Member of Parliament for a Borough in the Weft, to a Noble Lord 
 
 in his Neighbourhood, concerning the Excife Bill, and the Manner and Caufes of 
 lofing it, London, printed An, 1733. 
 
 96 An Account of the Bank of Loan at Amiterdam, commonly called the Lombard, with 
 
 a Defence of Pawnbrokers, London, printed An. 1733. 
 
 97 A Vindication of the Conduct of the Miniihy in the Scheme of the Excife on Wine 
 
 and Tobacco, &c. &c, London, printed An. 1734. 
 
 98 A Friendly Admonition to the Drinllers of Brandy and other Diftilled Spirituous Li- 
 
 quor?. London, printed An. 1734.. 
 
 99 Confiderations on the Neceffity of t<ixing the Annuities granted by Parliament in the 
 
 Reigns of King William and v_iicen Anne, and reducing One-P iftii of the Capital 
 Stock of all Perfons pof^cfied of Five Thoufai.d Pound', or more, in the South Sea 
 Company, In order to pa) off the National Debt.' London, pruned An. i 734. 
 
 E ICO Money
 
 fi<> APPENDIX. 
 
 .too Money anfwcrs all Things ; or, an Eflay to make Money fufficiently plentiful amongd 
 
 all Ranks of People, and alfo to reduce tlic National Debts, and cafe the Taxes. 
 
 By John Vanderlinf. Londoji, printed An. 1734. 
 toi The Cafe of the Bank Contract, in Anfwer to the infamous Scurrilities of feveral Li- 
 bels latclv printed in the Craftfman. London, printed An. 173';. 
 102 The Cafe of the Sinking Fund, and the Right of the public Creditors to it, confidered 
 
 at large, with fome further Obfervations on the National Debt, &c. Lomlon, 
 
 printed An. 1735. 
 IC3 .Ways and Means to raife the Value of Land, with Political Difcourfcs on the Land 
 
 Tax, V/ar, and other Subjeds. By William Allen, Lfq. London, printed 
 
 An. 1736. 
 104 An Enquiry into the Mifcondudt and Frauds committed by feveral of the FaiHors, 
 
 &c. employed bv the late and prefent Diredlors of the South Sea Company, &c. 
 
 London, printed An. 1736. 
 IC5 An Effavon the Sinking Fund, wherein the Nature thereof is fully explained, and the 
 
 Right of the Public to that Fund aflerted and maintained. London, printed 
 
 An. 1736. 
 
 106 A Letter from a Member of Parliament to his Friend in the Country, upon the Mo- 
 
 tion to addrefs his Majefty to fettle One Hundred Thoufand Pounds per Annum on 
 his Royal Highnefs the Prince of Wales ; in which the ancient and modern State 
 of the Civil Lift, and the Allowance to the Heir Apparent or Prefumptive of the 
 Crown, are particularly confidered. London, printed An. 1737. 
 
 107 Reafons againft lowering the Intereft of the Redeemable National Debt ftom Four 
 
 to Three per Cent, fliewing this Scheme to be detrimental to the Public. In a 
 
 Letter to a Alember of Parliament. London, printed An. 1737. 
 ic8 Confiderations upon a Propofal for lowering the Intereft of all the Redeemable National 
 
 Debts to Three per Cent, per Annum. London, printed An. 1737. 
 IC9 A Speech without Doors, addrefTed to the National Creditors, for the Redeemables at 
 
 Four per Cent. London, printed An. 1737. 
 
 110 Q^ieries relating to the Reduction of the National Redeemable Debts from Four to 
 
 Three per Cent. London, printed An. 1737. 
 ri I Reafons for the more fpeedy leffening the National Debt, and taking off the moft bur- 
 thenfome of the Taxes. London, printed An. 1737. 
 
 111 An Enquiry into the Caufes of the Increafe and Miferies of the Poor of England, &c. 
 
 with a Propofal for raifing the annual Supplies by a Tax on the Incomes and Abi- 
 lities of the Subje£t. London, printed An. 1738. 
 
 113 A Short Hiftory of the Gin A(St ; or, an Impartial Account of the Conduit of fome 
 
 of thofe who have been entrufted with the Execution of it, &c. &c. Loudon, 
 ^ printed An. 1738. 
 
 1 14 Farther Confiderations on the prefent State of Affairs at Home and Abroad, as af- 
 
 feiSled by the late Convention, &c. &c. containing a true State of the South Sea 
 Company's Affairs in 17 1 8. London, printed An. 1739. 
 315 An Enquiry into the Reafons of the Advance of the Price of Coals within Seven Years 
 paft, in which are (hewn the great Impofitions laid on the feveral Confumers by 
 a Monopoly of that Commodity, &c. London, printed An. 1739. 
 
 116 The prefent State of the Revenues and Forces by Sea and Land of Prance and Spain, 
 
 compared with thofe of Great Britain. London, printed An. 174.O. 
 
 117 The prefent State of the National Debt, with Remarks on the Nature of owr Public 
 
 Funds, and the Ufes which a la.'ge National Debt may be of to a fole M r. 
 
 London, printed An. 1740. 
 
 118 Two Letters to Mr. Wood on the Coin and Currency in the Leeward Iflands, 
 
 London, printed An. j 740. 
 
 1.19 An
 
 APPENDIX. 
 
 1 19 An Impfartial Enquiry into the Properties of Places and Pendens as they affe£l the 
 
 Conftitution. Humbly infcribed to the ferious Perufal of the Eledors of Great 
 Britain, &c. London, printed An. 1740. 
 
 120 Reafons and Propofals for laying a Tax upon Dogs. Humbly addrefled to the Ho- 
 
 nourable Houfe of Commons. London, printed An. 1740. 
 
 121 The Axe laid to the Root of the corrupt Tree ; or, an Effay on the hard Cafe of the 
 
 Retail Traders, &c. of the City of London, in regard to their Trade as at prefent 
 invaded by Hawkers and Pedlars. By a Liveryman. London, printed An. 
 1740. 
 J22 The Profit and Lofs of Great Britain in the prefent War with Spain, from July 1739 
 to July 1741. In a Letter to a Friend. London, printed An. 1741. 
 
 123 A Letter from a Byeftander to a xVIember of Parliament, wherein is examined what 
 
 Proportion the Revenues of the Ciovfn have borne to thofe of the People at dif- 
 ferent Periods from the Reftoration to his prefent Majefty's Acceflion. London, 
 printed An. I 74 1. 
 
 124 A Proper Aiifwer to the ByeRander ; wherein is (hewn, that Public Credit is now on 
 
 a more ftable Foundaiioji than it ever was before the Year 1734. London, 
 printed An. 1742. 
 
 125 A Full Anfwer to the Letter from a Byeftander, wherein his falfe Calculations, Mif- 
 
 reprefentations of Va6is in the Time of King Charles the Second are refuted ; to- 
 gether with an Hiftorical Account of Parliamentary Aids, &c. in that Reign, 
 from the Journals of the Houfe of Commons. By R, H. Efq. London, printed 
 An. 1742. 
 
 126 Remarks on feveral Afts of Parliament, wherein is contained a Difcourfe concerning 
 
 the Four and a Half per Cent, Duty payable by the Leeward Iflands. London, 
 printed An. 1742. 
 
 127 A Difcourfe concerning Banks. Printed in the Year 1697, and reprinted, London, 
 
 An. 1742. 
 J 28 An Enquiry into the Revenue, Credit, and Commerce of France. In a Letter to a Mem- 
 ber of this prefent Parliament. London, printed An. 1742. 
 
 129 A Letter to the Author of an Enquiry into the Revenue, Credit, and Commerce of 
 
 France. By a Member of Parliament. London, printed An. 1 742. 
 
 130 A Letter to the Rev. Thomas Carte, Author oli the Full Anfwer to the Letter from a 
 
 Byeftander. London, printed An. 1743. 
 
 131 A Full and Clear Vindication of the Full Anfv/er to a Letter from a Byeftander, 
 
 &c. London, printed An. 1743. 
 
 132 Remarks on the Impofts on the Clergy in France, and a State of the feveral Taxes 
 
 laid upon them in the Year 1 742. To which is added, the new Regulation of the 
 Tax for arming and cJoathing the Militia. London, printed An. 1743. 
 
 133 A Fre^ and Impartial Enquiry into the extraordinary and advantageous Bargain 
 
 lately under the Conlideration of Parliament for remittins; Money for the Pay of 
 the Forces abroad for the Year 1743, Sec. London, printed An. 1743. 
 
 134 An Account of the Number of Men able to bear Arms in the Provinces and Towns 
 
 of France, taken by the King's Order in 1743; and alfo of the King of France's 
 Revenue and Expences in the Years 1741 and 1742, &c. &c. London, printed 
 An. 1744. 
 
 135 Serious Coniiderationson the feveral high Duties which the Nation in general (as well 
 
 as its Trade in particular) labours under, with a Propofal for railing all the public 
 
 Supplies by one finyle i'ax. London, printed An. 1744. 
 J 36 Ser.kius Coniiderationson tlie High Duties examined. Addrefled to Sir Matthew? 
 
 Decker, by Mr. Horiley. London, piinted An. 1744. 
 137 Pro Commodo Regis 6; Populi. Public Funds for Public Service. London, printed 
 
 Ail. 1744. 
 
 E 2 138 Con- 
 
 ay
 
 ae APPENDIX. 
 
 138 Confiderationsagainft laying any new Duty upon Sugar ; wherein is particularly (hewn, 
 that a new Impofition will be ruinous to the Sugar Colonies. London, printed 
 An. 1744. 
 
 J 39 An Apology for the Bufinefs of Pawnbroking. By a Pawnbroker. London, printed 
 
 An. 1744. 
 
 140 A Plain Anfwer to a late Pamphlet, entitled. The Bufinefs of Pawnbroking ftated and 
 
 defended ; with fome Hints humbly propofed for their better Regulation. London, 
 printed An. 1745. 
 
 141 An E flay pre fen ted, or, a Method humbly propofed to the Honourable the Members 
 
 of both Houfes of Parliament, to pay the National Debt without a new Tax, &c. . 
 &c, London, printed An. 1744. 
 
 142 Ways and Means for the Suppreflion of Knavery, and to raife great Sums of Money 
 
 for the Government's Uic, without any new Taxation. By Thomas Robe, Efq. 
 London, printed An. 1745. 
 
 143 A Survey of the National Debt, the Sinking Fund, the Civil Lift, and the Annual 
 
 Supplies. Infcribcd to Sir John Phillips. London, printed An. 1745. 
 L44 An Enquiry how far the Commiffioners of his Majefty's Land Tax have Power to 
 alter the Quotas afielied within the feveral Hundreds or Divifions throughout 
 Great Britain. London, printed An. 1745. 
 
 145 The Coup dc Grace ; or, Mr. Bayle's Prophecy fulfilled, in Luther junior his Lalt 
 
 Stroke to compleat the Reformation, invalidating the Title of Ecclefiaflical 
 Eftates, proving that they ought to be fecularized, &c. London, printed An. 
 
 1745- 
 
 146 Reafons againft the Exemption of the Clergy of London from the Payment of the 
 
 Land Tax. London, prmted An. 1745. 
 
 147 National Economy recommended as the only Means of retrieving our Trade, and fe- 
 
 curing our Liberties', &c. &ic. London, printed An. 1746. 
 
 148 The Criterion ; or, fome Propofitions fairly ilated, for ijr.proving the Landed Inte- 
 
 reft, encouraging Trade, and for raifmg great Sums of Money for (iovernment's. 
 Ufe, without any new Taxation, iJfc. London, printed An. 17(6. 
 
 149 A Defence of feveral Propofals for raifing of Three Millions for the Service of the Go- 
 
 vernment for the Year 1746, &c. By Sir John Barnard. London, printed An. 
 1 746. 
 
 150 A Letter to Sir John Barnard, upon his Propofals for raifing Three Millions of Mo- 
 
 ney for the Service of the Year 1-746, from a P/lember of the Houfe of Commons. 
 London, printed An. 1746. 
 
 151 Remarks on a Letter to Sir John Barnard, in which the Propofals of that worthy Pa- 
 
 triot are vindicated. London, printed An. 1746. 
 
 152 An Effay on the Inequality of our prefent Taxes, particularly the Land Tax, and on 
 
 the Aleans to raife by an equal eafy Taxation the neceffary Supplies within the 
 Year. London, printed An. 1746. 
 
 153 An Appeal to Ca,-far on the Nature and Situation of our public AtFairs, of the Na- 
 
 tional Debt, the Tax on CJlafs, &c. London, pi inted An. 1746. 
 
 1 54 The State of the Nation confidered, in a Letter to a Member of Parliament. London, 
 
 printeil An. J 746. 
 
 155 Confiderations relating to the laying any additional Duty on Sugar from the Britilh 
 
 Plantations. London, printed An. 1747. 
 
 156 The State of the Nation for the Year 1747, and refpe£ting 1748. Lifcribed to a 
 
 Member of the prefent Parliament. London, printed An. 1747. 
 
 157 A Scheme to fupprefs Smugglers, fo as to afford a great Advantage to the Fair Dealer, 
 
 and increafc the Cuftom-houfe Duties, to raife Sea and Land Forces, &c. Sic, 
 By Nicholas Machiavelli, Efq. London, printed An. 1747. 
 J 58 The State of the Nation, with a general Balance of the Public Accounts. London, 
 % printed An. 1748. 
 
 J 59 A Pro-
 
 APPENDIX. 29 
 
 159 A Propofal for a Tax for the Supplies of the War, that wiH be ufeful and eafy, not 
 
 affecEt Trade, and will have a Tendency to increafe the Political Strength of the 
 Nation. London, printed An. 1748. 
 
 160 An Effay upon Public Credit, in a Letter to a Friend, occafioned by the Fall of Stocks. 
 
 London, printed An. 1748. 
 
 161 The State preferable to the Church ; or, Reafons for making Sale of the whole pre- 
 
 fent Property of the Church in England and Ireland, for the Ufe of the State, &c. 
 London, printed An. 1748. 
 
 162 A Dialogue between a Member of Parliament and one of his Ele(51:ors, concerning the 
 
 Window Tax, with an Eflimate of the probable annual Produce of the Duties 
 both in England and in Scotland. By A. Hooke, Efq. London, printed An. 
 1748. ^ 
 
 163 Englilh Liberty in iome Cafes worfe than French Slavery, exemplified by Animad- 
 
 verfions upon the tyrannical and unconftitutional Power of the Juftices of the 
 Peace, Commiffioners of Excife, Cuftoms, and Land Tax, &c. Sec. London, 
 printed An. 1748. 
 
 164 Obfervations on a J'aper, entitled, Reafons for laying a Duty on French and Spanifh 
 
 Lidito, and granting a Bounty on what is made in the Britifli Plantations. 
 Loiidon, printed An. 1748. 
 
 165 Reafons grounded on Facts, fhewing that a new Duty on Sugar muft fall on the 
 
 Planter, and that a new Duty will not certainly encreafe the Revenue, &c. 
 London, printed An. 1748. 
 
 166 An Apology in Behalf of the Smugglers, fo far as their Cafe afFeds tlie Conftitution.. 
 
 London, printed An. 1749. 
 
 167 The prefent Taxes compared to the Payments made to the Public within the Me- 
 
 mory of Man, with ibme Thoughts on the poffible Confequences tliat may enfue 
 from the National Debts. London, printed An. 1749. 
 
 168 Thoughts on the pernicious Confequences of borrowing Money, with a Propofal for 
 
 raifing a Supply for the current Service. To v/hich are added, fomc Eliimates to 
 fliew the Advantages that would arife from an equal Land Tax, and a Method 
 propofcdfor dii'charging the National Debt. London, printed An. 1749. 
 
 169 Confiderations upon a Reduftion of the Land Tax. London, printed An. 1749. 
 
 170 Machiavel's Letter to the Lords and Commons of G — t B n, propofmg infallible 
 
 Methods to pay the National Debt. London, printed An. 1749. 
 
 171 National Thoughts, recommended to the ferious Attention of the Public; with an 
 
 Appendix, fliewing the Damages arifing from a Bounty on Corn. London, 
 printed An. 1749. 
 
 172 Propofals to preferve the public Roads without Prejudice to Trade, Excefs of Tolls, 
 
 or Turnpikes. Alfo, a Brief Difcourfe, fliewing that Inland Trade is the chief 
 Support of Sociecies, coniequently the Support of the Nation ; that the prefent 
 Run of Poft-Chaifes tends equally to the Ruin of both ; and that unequal Taxes 
 and unequal Privileges are ofc attended with pernicious Confequences. London, 
 printed An. 1750. 
 
 173 An Eli'ay on the National Debt and National Capital, or the Account dulyflated, 
 
 Debtor iind Creditor ; v.'iierein is Ihcwn, that tlie former is but a diminutive Part 
 of the latter ; and a pra<flicahle Scheme exhibited, whereby the whole may with 
 great Facility be paid off at once, exclufive of the Aid of tiie Sinking Fund, and 
 without any Diminution of the prefent Revenues of the Crown, or annual Ex- 
 penccs of the People. By A. Hooke, F.fq. London, printed An. 1750. 
 
 174 Confiderations on the Piopofal for reducing the Intereft of the National Debt. By 
 
 Sir John I?arnavd. London, printed An. 1750. 
 
 175 Annotations on a late Pamphlet, entitled, Confiderations on the Propofal for reducing 
 
 the Intereit of tiie National Debt. London, printed An. 1750. 
 
 176 The
 
 ■'O 
 
 APPENDIX. 
 
 176 The MecefTJty of lowering Intereft, and continuing Taxes, demonftrated, in a Letter 
 
 to G. B. London, printed An. 1750. 
 IJ7 An Effayon the governing Ciufes of the natural Rate of Intereft, wherein the Senti- 
 ments of Sir William Petty and Mr. Locke on that Head are confidereJ. Lon- 
 don, printed An. 1750. 
 
 1 78 A Difpaflionate Remonftrance of the Nature and Tendency of the Laws now in force 
 
 for the Reduction of Intereft, and the Confequences that muft inevitably flow from 
 them, if continued in their prefent Form ; with a Propofal for univerfal and imme- 
 diate RedreA, by alleviating the Burthens of the People in general, compleating at 
 once the Reduftion propofed, giving better Satisfaftion to the Public Creditors, 
 and providing more effedually for the Support of the Crown. London, printed 
 An. 175 1. 
 
 179 A Speech intended to have been fpolcen at the General Court of the South Sea Com- 
 
 pany, held the i6th of January 1750, but prevented by other Gentlemen taking 
 up fo great a Partof the Time of the (aid Court. London, printed An. 1751. 
 
 180 Farther Confidcrations upon a Reduction of the Land Tax, together with a State of 
 
 the Annual Supplies, of the Sinking Fund, and of the National Debt at various 
 future Periods, and in various Suppofitions. London, printed An. 1751. 
 
 181 Two Hiftorical Accounts of the making New Foreft, in Hamplhire, by William thi 
 
 Conqueror, and Richmond New Park, in Surrey, by King Charles the Firft, 
 containing an Enquiry into the Origin of Forefts, Chaces, &c. Parks, ^c. 
 London, printed An. 1751. 
 
 182 The Confequences of laying an additional Duty on Spirituous Liquors candidly con- 
 
 fidered. By a Byeftander. London, printed An. 1751. 
 
 183 Seafonable Advice to all Smugglers of French Cambricks and French Lawns ; with a 
 
 brief State from the Commiflioners of his Majefty's Cuftoms of Smuggling in the 
 Year 1745, and a Remedy propofed totally to fupprefs it, and thereby to increafc 
 the Revenue feveral Hundred Thoufand Pounds annually. London, printed An. 
 
 1751- 
 184. Some Confiderations, humbly offered to the Public, concerning the Revenue of the 
 Cuftoms ; together with fome Propofals for effectually preventing the Frauds and 
 Abufes in that Revenue. London, printed An. 1752. 
 
 185 England's Intereft ; or, Free Thoughts on the Starch Duty. Wherein is fet forth 
 
 the Advantage that will attend the Farmers and Landholders, &c. By John 
 Brooks. London, printed An. 1752. 
 
 186 An Account of the late Application to Parliament from the Sugar Refiners, Grocers, 
 
 &c. of London, Weftminfter, Southwark, and Briftol. London, printed An. 
 
 1753- 
 
 187 It's a-going ; or, a Perfpeflive View of that pernicious Pradice of Audions. Ad- 
 
 drelTed to the Fair Trader. London, printed An. 1753. 
 
 188 The Dog's Plea 5 or, Reafons moft humbly fubmitted by the Barking Fraternity of 
 
 Great Britain to the Men their Mafters, fhewing why Dogs ought to be exempted 
 from Taxes. London, printed An. 1753. 
 
 189 An Enquiry into the Origin and Confequences of the Public Debt. Edinburgh, 
 
 printed An. 1753. 
 
 190 The Valuation of Annuities on Lives, deduced from the London Bills of Mortality ; 
 
 with Table?, exhibiting at one View the Values of Lives at different Rates of In- 
 tereft, and Tables of Compound Intereft, and of Fines for renewing College 
 Lands. London, printed An. 1754. 
 igi Genera! Thoughts on the Conlhiiclion, Ufe, and Abufe of the Great Offices, with a 
 View to fome farther Difcourfes on the fame SubjeiSt. London, printed An. 
 
 1754- 
 192 The Man's miftaken who thinks the Taxes fo grievous as to render the Nation un- 
 able to maintain a War. Londoj), printed An. 1755. 
 
 193 Britilk
 
 APPENDIX. 
 
 193 Britifli Liberty in Chains, and England's Ruin on the Anvil, in thelfle of Man, now 
 
 commonly called Little France, &c. By John Baldwin, Efq. London, printed 
 An. 1755. 
 
 194 A Treatife upon Money, Coins, and Exchange, in regard both to Theory and Prac- 
 
 tice ; giving a full and particular Account of the Nature and Origin of that moft 
 ufeful and intricate Part of Commerce. London, printed An. 1755. 
 
 195 A Letter to a Noble Lord, containing a new Difcovery of the fcandalous and perni- 
 
 cious Practice of running Goods from France, which has lately been carried on 
 beyond all Example, to the great Prejudice of his Majefty's Cufioms, Sic. Lon- 
 don, printed An. 1755. 
 
 196 A Letter to the People of England on the prefent Situation and Condu«£t of National 
 
 Affairs. By Dr. Shebbeare. London, printed An. 1755. 
 
 197 A Second Letter to the People of England on Foreign Subfidies, Subfidiary Armies, 
 
 and their Confequences to this Nation. London, printed An. J 755. 
 
 198 A Third Letter to the People of England, on Liberty, Taxes, and the Application of 
 
 the Public Money. London, printed An. 1756. 
 
 199 A Fourth Letter to the People of England, on the Conduct of the M rs in Al- 
 
 liances, Fleets and Armies, fince the firll Differences on the Ohio, to the taking 
 Minorca by the French. London, printed An. 1756. 
 
 200 Britain's Glory Di (played ; or, Ways and Means found out whereby to raife Men 
 
 and Money towards the Support of the prefent War, without affecting the in* 
 duftrious Subject ; together with fome Hints regarding the African Company. 
 By J. C. G. London, printed An. 1756. 
 
 201 A Letter from a Tvlember of Parliament on the Plate Tax. London, printed An. 
 
 1756. 
 
 202 Confiderations upon a New Place Tax, particularly with regard to the Sinecures in 
 
 the Church, as well as Offices in the State. London, printed An. 1756. 
 
 203 An Effay on Ways and Means for raifing Money for the Support of the prefent War, 
 
 without increafing the Public Debts. ByF. F. London, printed An. 1756. 
 
 204 Obfervations on Mr. Fauquier's Eflay on Ways and Means for raifing Money to fup- 
 
 port the prefent ^\'ar, without increafing the Public Debts. To which is added. 
 An Account of feveral national Advantages derived from the Nobility and Gentry 
 of the prefent Age living in London a greater Part of the Year than their Anceftors 
 ufed to do. By J. M. London, printed An. J756. 
 21^5 Serious Advice and Fair Warning to all thofe who live upon the Sea Coaft of England 
 and Wales, particularly to thofe in the Neighbourhood of Weymouth and Port- 
 land. To which are added, fome Extradts from the feveral Acts of Parliament 
 relating to Ships that are ftranded on the Coaft, and the Penalties to be inflicted 
 on thofe who plunder Merchants' Ships. By Thomas Francklyn. London, 
 printed An. 1756. 
 
 206 Calculations of Taxes for a Family of each Rank, Degree, or Clafs, for one Year. 
 
 London, printed An. 1756. 
 
 207 A Letter to Bourchier Cleve, Efq. concerning his Calculations of Taxes. London, 
 
 printed An. 1757. 
 
 208 The Propofai, commonly called Sir Matthew Decker's Scheme for one general Tjx 
 
 upon Houfes, laid open, and fhewed to be a deep-concerted Project to traduce the 
 Wifdomof the Legiflature, difquiet the Alinds of the People, and ruin the Trade 
 and Manufactories of Great Britain. London, printed An. 1757. 
 
 2C9 Lottery Schemes in general calculated to raift any Sums of Money, v/ithout enhancing 
 the Public Debt or Taxes. By John Woodcock. London, printed An. 1757. 
 
 ■210 A Letter from a Merchant of the City of London to the Right Honourable V\". P. 
 Efq. upon the Affairs and Commerce of North America and the Well Indies, our 
 African. Traiic, the Deltinaiion of our Squadrons and Convoys, ntw Taxes, and. 
 
 3<
 
 32 APPENDIX. 
 
 the Schemes propofed for raifing the extraordinaiy Supplies for the current Year. 
 London, printed An. 1757. 
 
 211 A Letter balancing the Caufcs of the pnTcnt Scarcity of our Silver Coin, an) the 
 
 Means of immeriiate Remedy and future Prevention of this Evil. Addrelied to 
 the Earl of Povvis. London, printed An. 1757. 
 
 212 Thoughts on Money Grculation and Paper Currency. London, printed An. 1758. 
 
 213 Confiderations luimbly ofiered to Parliament relative to the Heads of a Bill for pro- 
 
 moting Indiiltrv, fupprefling Icllenefs and Begging, and faving above One Mil- 
 lion Sterling of the Money now actually paid by the Nation to the Poor. London, 
 printed An. 1758. 
 
 214 The Cafe of the Five Millions fairly ftated in regard to Taxes, Trade, Law, Law- 
 
 yers, &c. London, printed An. 1758. 
 
 215 An Eflay on Coin. By Bryan Robinfon, M. D. London, printed An. 1758. 
 
 216 The Prefent State of the London Brewery recommended to the Perufal of thofe con- 
 
 cerned in or with the Trade, and to the Publicans in particular. London, 
 printed An. 176c. 
 
 217 Occafional Obfervations on a double-titled Paper, about the clear Produce of the 
 
 Civil Lift Revenue,, from Midfummer 1727 to Midfummer laft. London, printed 
 
 An. I/61. 
 y. 18 A Mircour for the Rulers of the People ; in which are contained feveral Mifcellaneous 
 • Pieces adapted to the Times. To which are adde^, fome Propofals for the 
 
 fpeedy leflening the National Debt. London, printed An. 1 76 1. 
 
 219 A Letter to the Right Honourable Grocer. To which is prefixed, an EfTay on the 
 
 Origin of Penfions in England. Infcribed to a newly created Baronefs. London, 
 printed An. 1761. 
 
 220 Tragi-Comic Memoirs of the Origin, Progrefs, and Events of our prefent War 
 
 againft France, and of the fucceifive Minifters therein employed. To which are 
 added, National Poftulata on Patriot Evolutions, Economical Reforms in a 
 Royal Houfehold, &c. London, printed An. 1762. 
 
 221 An Eafy Method of difcharging the National Debt, with the Confent and Approba- 
 
 tion of the Stockholders. London, printed An. 1763. 
 
 222 An Efl'ay on the Means of difcharging the Public Debt ; in which the Reafons for 
 
 inftituting a National Bank, and difpofmg of the Forcft Lands, are more fully 
 confidered ; with a Method propofed of railing Money to anfwer the Expences of 
 any future War, without creating new Funds. London, printed An. 1763. 
 
 223 A Letter to the Honourable the CoinmifTioners of his Majefty's Cuftoms, containing 
 
 an Account of the Dete£tion of Frauds at the Cuftom-houfe, which had been fuc- 
 cefsfully carried on for Years by falfe Affirmations (Perjury), and their very re- 
 markable Punift^nents, &c. &c. By William Stewardfon. London, printed 
 An, 1763. 
 
 224 Droit le Roy ; or, a Digeft of the Rights and Prerogatives of the Imperial Crown of 
 
 Great Britain. By a Member of the Society of Lincoln's Inn. London, printed 
 An. 1764. 
 
 225 An Eflay on Paper Circulation, and a Scheme propofed for f ipplying the Govern- 
 
 ment with Twenty Millions, without any Loan or new Tax. London, printed 
 An. 1764. 
 
 226 A Second Letter to the Right Honourable Charles Townfhend, occafioned by his 
 
 Commendations of the Budget ; in which the Merits of that Pamphlet are exa- 
 mined. London, printed An. 1765. 
 
 227 Confiderations on Taxes, as they are fuppofed to afted the Price of Labour in our 
 
 Manufaftures ; alfo fome Rcfleclions on the general Behaviour and Difpofition of 
 the manufacturing Populace of this Kingdom, &c. London, printed An. 1765. 
 
 228 A Letter to the Public, containing (ome important Hints relating to the Revenue. 
 
 London, printed An. 1765. 
 
 4 229 Confi-
 
 APPENDIX. 33 
 
 229 Confiderations relative to a Bill under the Confideration of a Committee of the Houfe 
 
 of Commons, for taking off Duty on all Raw Silk of every Denomination, that 
 fhall be imported into Great Britain. London, printed An. 1765. 
 
 230 State of the Demands of fundryContraclors upon the Crown of Great Britain, for Fo- 
 
 rage, &c. delivered into the King's Magazine, for the Ufe of the Britifh Com- 
 bined Army, &c. &c. London, printed An. 1767. 
 
 231 Half an Hour's Advice to Nobody knows who. London, printed An. 1767. 
 
 232 An Enquiry into the Caufes of the prefent High Price of Provifions. In Two Parts. 
 
 I. As the general Caufes of this Evil as refulting from Taxes, &c. &c. 2. 
 Of the Caufes of it in fome particular Inftances. London, printed An. 1767. 
 
 233 A Scheme to pay off in a fev/ Years the National Debt, by a Repeal of the Marriage 
 
 Act. London, printed An. 1767. 
 
 234 The Political Regifter for March 1768, containing a Scheme for paying off the Na- 
 
 tional Debt. London, printed An. 1768. 
 
 235 Obfervations on the Power of Alienation in the Crown before the Firft of Queen 
 
 Anne, fupported by Precedents, and the Opinions of many learned Judges ; toge- 
 ther with fome Remarks on the Conduct of Adminiitration refpecting the Duke of 
 Portland's Cafe. London, printed An. 1768. 
 
 236 The Cafe of his Grace the Duke of Portland refpefling tv.'o Leafes lately granted by 
 
 the Lords of the Treafury to Sir James Lowther, Bart. London, printed An. 
 1768. 
 
 237 AnAnfwer totheDuke of Portland's Cafe. London, printed An. 1768. 
 
 238 The National Debt no National Grievance : or, the Real State of the Nation with re- 
 
 fpe<5tto its Civil and Religious Liberty, Commerce, Public Credit, and Finances. 
 To which are added, Propofals for improving the Public Revenue without addi- 
 tional Taxes. By Thomas Mortimer, Efq. London, printed An. 1768. 
 
 239 The Prefent State of the Nation, particularly with refpeiSt to its Trade, Finances, &c. 
 
 &c. London, printed An. 1768. 
 
 240 An Appendix to the Prefent State cf the Nation; containing a Reply to the Obfer- 
 
 vations on that Pamphlet. London, printed An. 1769. 
 
 241 Obfervations on a Late State of the Nation. London, printed An. 1769. 
 
 242 Thoughts on the Caufe of the prefent Difcontents. London, printed An. 1770. 
 
 243 A Candid Enquiry into the Caufes of the prefent ruined State of the French Mo- 
 
 narchy ; with Remarks on the late defpotic Redudion of the Intereft of the Na- 
 tional Debt in France. London, printed An. 1770. 
 
 244 A Letter to the Right Honourable Lord North, Firft Lord of the Treafury, recom- 
 
 mending a new Mode of Taxation, through which Vice may be checked, and the 
 Poor relieved. London, printed An. 17 70. 
 
 245 Selim's Letters, expofmg the Mal-praclices of the Office of Ordnance; with the Par- 
 
 ticulars of the Enquiry of the Board of Ordnance, and their Determination on the 
 Charge exhibited againft Thomas Hartwell. London, printed An. 1771. 
 
 246 A Letter to the Members in Parliament on the prefent State of the Coinage, with 
 
 Propofals for the better Regulation thereof. London, printed An. 1 77 1. 
 
 247 Sentiments offered to the Public for the coining of Forty Thoufand Pounds worth of 
 
 Silver. London, printed An. 1771. 
 
 248 Confiderations on Money, Bullion, and Foreign Exchanges, being an Enquiry into 
 
 the prefent State of the Britifh Coinage, particularly with regard to the Scarcity 
 of Silver Money ; with a View to point out the moft probable Means of making 
 it plentiful. London, printed An. 1772. 
 
 249 Thoughts on the Conftitutional Power and Right of the Crown in the Beftowal 
 
 of Places and Penfions, &c. Sic. London, printed An. 1772. 
 
 250 An Appeal to the Public on the Subjetl of the National Debt, &c. By Richard 
 
 Price, D. D. F. R. S. London, printed An. 1772. 
 
 F 251 Re-
 
 3^ 
 
 APPENDIX. 
 
 251 Remarks upon Dr. Price's Appeal to the Public on the Subje(a of the National Debt. 
 
 London, printed An. 1772. 
 
 252 Remarks on Dr. Price's Obfervations on Reverfionary Payments, particularly on the 
 
 National Debt. To which is added, A Scheme for the making a fure Provifioa 
 for the PoJterity of private Perfons at an eafy Expence. London, printed An. 
 1772. 
 
 253 An Examination of Dr. Price's ElTay on the Population of England and Wales, and 
 
 the Dodl;rine of an increafed Population in this Kingdom, eltablilhed by Fa(£b. 
 By the Rev. John Hovvlet, A. B. Maidftone, printed An. 1772. 
 
 254 Confiderations on the Nature, Origin, and Inftitution of Tithes, and the Laws and 
 
 Cuftoms for collecting and enforcing the Payment of them, &c. with a Propofal 
 to Parliament to abolilh the whole Inftitution of lithes, and reftore the Farmers 
 of England to equal Freedom with other Subjects. London, printed An. 1773. 
 
 255 An Effay on Gold Coin ; in which certain Methods are laid down to afcertain the 
 
 Quantity and Quality of any current Pieces of Gold Coin, by which every Spe- 
 cies of counterfeit or adulterated Coin may be immediately dctecSted Likewife, 
 Obfervations on Currency in general, and the prefent State of our Gold Coin in 
 particular, with Arguments to prove the Neceflity of a new Coinage. By Tho- 
 mas Hatton. London, printed An. 1773. 
 
 256 National Follies, National Benefits ; a Letter to the Right Honourable Lord North, 
 
 and the Honourable Houfe of Commons. London, printed An. 1773. 
 
 257 Obibrvations upon the prefent State of our Gold and Silver Coins (1730). By the 
 
 late John Conduitt, Efq. M. P. from an original MS. formerly in the Pofleffion 
 of the late Dr. Jonathan Swift. London, printed An. 1774. 
 
 258 Confideraiions on the Impofition of Four and a Half per Cent. colle(£ted on Grenada 
 
 and the Southern Charibbee Iflands, by virtue of his Majefty's Letters Patent, &c. 
 London, printed An. 1774. 
 
 259 A Letter to Edmund Burke, Efq. M. P. for the City of Briftoi, &c. in Anfwer to 
 
 his printed Speech, faid to be fpoken in the Houfe of Commons, 22d March, 
 1775. By Jofiah Tucker, D. D. London, printed An. 1775. 
 
 260 The Coin A6ti by Way of Dialogue, wherein is pointed out the bed Method of dif- 
 
 covering all Counterfeits, and of proving and afcertaining the Value of true and 
 lawful Coin. By J. C. London, printed An. 1775. 
 
 261 Taxation no Tyranny ; an Anfwer to the Refolutions and Addrefs of the American 
 
 Colonies. By Dr. Samuel Johiifon. London, printed An. 1775. 
 
 262 An Anfwer to a Pamphlet, entitled. Taxation no Tyranny. Addrefied to the Author, 
 
 and Perfons in Power.- London, printed An. 1775. 
 
 263 Taxation Tyranny. Addrefied to Dr. Samuel Johnfon, LL. D. London, printed 
 
 An. 1775. 
 
 264 The Pamphlet, entitled, " Taxation no Tyranny," candidly confidered, and its Ar- 
 
 guments and pernicious Doctrines cxpofed and refuted. London, printed An. 1775. 
 
 265 An Appendix to a Letter to Dr. Shebbeare. To which are added. Some Obferva- 
 
 tions on a Pamphlet, entitled. Taxation no Tyranny; in which the Sophiflry of 
 that Author's Reafoning is dete£led. London, printed An. ij'^S- 
 
 266 Reflections on the State of Parties, on the National Debt, and the Neceflity and Ex- 
 
 pediency of fupprefling the American Rebellion. By J. Champion. London, 
 printed An. 1776. 
 
 267 Thoughts on the great Circumfpeftion neceflary in Licenfing Public Alehoufes, 
 
 London, printed An. 1776. 
 
 268 The Lottery Pamphlet, or the Wheel of Fortune laid open to the Public ; or, 
 
 Thoughts on State Lotteries. To which is added. The Hiltory of the Public 
 Funds of England. London, printed An. 1776. 
 
 269 A-Short Account of the Society for Equitable Aflurances on Lives and Survivorfliips, 
 
 eftabliihed by Deed, enrolled in his Majefty's Court of King's Bench, Weft- 
 minfter. London, printed An. 1776, 
 
 2 270 A New,
 
 APPENDIX. 
 
 270 A New, Eafy, and Expeditious Method of difcharging the National Debt ; or, A 
 
 Plan of Reformation of the Englifti Conftitution in Church, practicable not only 
 without Detriment, but with Emolument to the Conftitution in State. By 
 Francis Stone. London, printed An. 1776. 
 
 271 Doftor Price's Notions of the Nature of Civil Liberty, ftiewn to be contradiilory to 
 
 Reafon and Scripture. London, printed An. 1777. 
 
 272 Confiderations on the Nature, Quality, and Diftinctions of Coal and C-dm ; with 
 
 Enquiries Philofophical and Political into the prefent State of the Laws, and the 
 Queftions now in Agitation relative to the Taxes upon thefe Commodities. By 
 Dr. James Hutton. Edinburgh, printed An. 1777. 
 
 273 Remarks on " Confiderations on the Nature, Qiiality, and Diftinctions of Coal and 
 
 Culm, &c. by Dr. James Hutton." By a Friend to the Revenue. AddrelFed 
 to the Honourable the Commiffioners of the Cuftoms, &c. London, printed 
 An. 1777. 
 
 274 The Public Welfare ; or. An Infallible Method of paying off the National Debt of 
 
 England, affording a perpetual Supply for every Exigence of Government without 
 levying any Tax, &c. By M. D z. London, printed An. 1778. 
 
 275 A Scheme whereby the whole National Debt may be paid in about Thirty Years, 
 
 without any additional Tax upon the Nation, or any Injury either to Govern- 
 ment or its Creditors, and whereby the contracting of any more Debt for the fu- 
 ture may be prevented. London, printed An. 1778. 
 
 276 A Differtation on the Value of Life Annuities, deduced from general Principles, 
 
 clearly demonltrated, and particularly applied to the Schemes of tlie Laudable and 
 Amicable Societies of Annuitants for the Benefit of Age. With Tables, &c. &c. 
 By William Backhoufe. London, printed An. 1778. 
 
 277 Confiderations on the Prefent State of Public Affairs, and the Means of raifing the 
 
 neceffary Supplies. By William Pulteney, Efq. London, printed An. 1779. 
 
 278 Political Arithmetick, Part II. containing Confiderations on the Means of raifing the 
 
 Supplies within the Year, occafioned by Mr. Pulteney's Pamphlet on that Sub- 
 ject. By Arthur Young, Efq. F. R. S. London, printed An. 1779. 
 
 279 Lucubrations on Ways and Means, humbly addreffed to the Right Honourable Lord 
 
 North. By John Berkenhout, M. D. London, printed An. 1 780- 
 
 280 Occafional Letters upon Taxation, upon the Means of raifing the Supplies within the 
 
 Year, to anfwer the ExpencSs of a neceffary War. London, printed An. 1780. 
 
 281 Advice to the Unwary ; or, An Abftrafl of certain Penal Laws now in Force againft 
 
 Smuggling in general, and the Adulteration of Tea. London, printed An. 1780. 
 
 282 Speech of Edmund Burke, Efq. M.P, for the City of Brifl:ol, on prefenting to the 
 
 Houfe of Commons (on the nth of February 1780) a Plan for the better Secu- 
 rity of the Independence of Parliament, and the Economical Reformation of the 
 Civil and other Eftablifhments. Third Edition. London, printed An. 1780. 
 
 283 Obfervations on Mr. Burke's Bill for the better Regulation of the Independence 
 
 of Parliament, and Economical Reformation of Lftablifliments. By a Lady. 
 London, printed An. 1780. 
 
 284 Cafes on Appeals concerning the Duties on Houfes and Windows, Servants, and un- 
 
 inhabited Houfes ; with the Determination of the Commilfioners, and the Opi- 
 nions of all the Judges of England thereon. London, printed An. 1780. 
 
 285 An Effay on the Population of England, from the Revolution to the prefent Time ; 
 
 with Remarks on the Account of the Population, Trade, and Refources of the 
 Kingdom, in Mr. Eden's Letters to Lord Carlifle. By Richard Price, D. D. 
 F. R. S. London, printed An. 1780. 
 a86 An Enquiry into the Prefent State of Population in England and Wales, and the Pro- 
 portion which the prefent Number of Inhabitants bears to the Number at for- 
 mer Periods. By William Wales, F. R. S. London, printed An. 1781. 
 
 F ?. 287 The 
 
 35
 
 36 APPENDIX. 
 
 aS; The Old Funds fufficient for a New Loan ; or, A Propofal for raifiiig the Supplies 
 of the current Year, by lowering the legal Interell of Money, and taxing the 
 Fumls, &c. London, printed An. 1781. 
 
 288 On the Debt of the Nation compared with its Revenue ; and the ImpoflTibility of car- 
 
 rying on the War without Public Economy. London, printed An. 1781. 
 
 289 Confiderations preliminary to the fixing the Supplies, the Ways and Means, and the 
 
 Taxesofthe Year 1781. London, printed An. 1781. 
 
 290 An Addrefs to the Public on the SubjeiEl of the late Loan. By Winchcombe Henry 
 
 Hartley, Efq. M. P. London, printed An. 1781. 
 
 291 Confidcration of Taxes. Submitted in a Series of Letters to the Right Honourable 
 
 Lord North. By J, R. Staub, Notary Public. London, printed An. 1782.. 
 
 292 Confiderations on a Rental Tax, inftead of what has been called the Land Tax. 
 
 London, printed An. 1782. 
 
 293 An Eflay on the Nature of a Loan ; being an Litroduflion to the Knowledge of the 
 
 Public Accounts. London, printed An. 1782. 
 
 294 The Queftion confidered, Whether ^Vool fiiould be allowed to be exported, when the 
 
 Price is low at Home, on paying a Duty to the Public ? By Sir John Dal- 
 rymple, Bart. London, printed An. 1782. 
 
 295 State of the Public Debts, and of the Annual Intcrcfl: and Benefits paid for them, as 
 
 they will ftand on the 5th of January 1783. Likewife as they will ftand (if the 
 War continues) on the 5th of January 1784, &c. &c. By John Earl of Stair. 
 London, printed An. 1783. 
 
 296 An Attempt to balance the Income and Expenditure of the State ; with fome Re- 
 
 fle<5tions on the Nature and Tendency of the late Political Struggle for Power. 
 By John Earl of Stair. London, printed An. 1783. 
 
 297 Appendix to Lord Stair's Attempt to balance the Income and Expenditure of the 
 
 State, &c. London, printed An. 1783. 
 
 298 An Argument to prove. That it is the indifpenfable Duty of the Creditors of the 
 
 Public, to infift that Government do forthwith bring forward the Confideration 
 of the State of the Nation, in order to afcertain as near as may be the Annual Re- 
 ceipts and Expenditure of the State; and by providing efficient and adequate 
 Funds for the Sum in which the Latter (hall be found to exceed the Former^ Sec. 
 By John Earl of Stair. London, printed An. 1783. 
 
 299 Hints addreffed to the Public on the State of our Finances. By John Sinclair, Efq. 
 
 London, printed An. 1783. 
 
 300 A Brief and Impartial Review of the State of Great Britain at the Commencement of 
 
 theSeflion of 1783. London, printed An. 1783. 
 
 301 Free and Candid RcfieiStions, occailoned by the late additional Duties on Sugars and 
 
 on Rum. By John Gardner Kemys, Efq. London, printed An. 1783. 
 
 302 Memoir, containing a Plan for re-cftablifhing the Public Credit and Finances of the 
 
 Country. By John Sinclair, Efq. London, printed An. 1783. 
 
 303 A Propofal for the Liquidation of the National Debt, the Abolition of Tithes, and the 
 
 Reform of the Church Revenue. London, printed An. 1783. 
 
 304 Thoughts on the Difficulties and Diftrefi'es in which the Peace of 1783 has involved 
 
 the People of England ; on the prefent Difpofition of the Englifh, Scots, and Irifh, 
 to emigrate to America, &c. By John King, Efq. London, printed An, 
 
 I783' 
 
 305 Obfervations, Remarks, and Means to prevent Smuggling. By George Bifliop. 
 
 London, printed An. 1783. 
 
 306 A Letter of Advice, addrefled to all Merchants, Manufadurers, and Traders in Great 
 
 Britain, concerning the Tax on Receipts. London, printed An. 1783. 
 
 307 A Second Letter of Advice to the Merchants, &rc. of Great Britain, concerning the 
 
 Tax on Receipts. To which arc added, the Opinions of Meflrs. Mansfield, 
 Kcnyon, and Arden, as to the Act. London, primed An. 1783. 
 
 308 A
 
 APPENDIX. 2,1 
 
 308 A Capital Miftake in the Legiflature refpefting the Taxes on Receipts. London, 
 
 printed An. 17B3. 
 
 309 Thoughts on the prei'ent War; with an Impartial Review of Lord North's Admini- 
 
 ftration in conJufting the American, French, Spanifh, and Dutch War, and in 
 the Management of Contrads, Taxes, the Public Money, &c. London, printed 
 An. 1783. 
 
 310 The State of the Public Debts and Finances at figning the Preliminary Articles in Ja- 
 
 nuary 1783 ; with a Plan forraifing Money by Public Loans, and for redeeming 
 the Public Debts. By Richard Price, D. D. F. R. S. London, printed 
 An. 1783. 
 
 311 Poftfcript to a Pamphlet, by Dr. Price, on the State of the Public Debts and Fi- 
 
 nances at figning the Preliminary Articles, January 1783. London, printed 
 An. 1784. 
 3(2 A Serious Addrefs to the Public concerning the Tax on Receipts ; with a few Ob- 
 fervations on the prefent critical and very alarming Situation of this Country 
 with regard to Trade, Revenues, National Debt, and Principles of Government. 
 London, printed An. 1784. 
 
 313 Plans for reducing the extraordinary Expences of the Nation, and gradually paying ofF 
 
 the National Debt. To which is added, a Propofal for a general Regifler of 
 Births, Marriages, &c. &c. By George Box. London, printed An. 1784. 
 
 314 Letters on Credit; with a Poftfcript, and a Short Account of the Bank at Amfter- 
 
 dam. By John Hope, Efq. London, printed An, 1784. 
 
 315 Thoughts concerning paying off Part of the Capital of the National Debt of Great 
 
 Britain in the Mode of a Lottery, the Prizes of which arifc from a Diminution of 
 the prefent Annual Interefl of the Public Funds. London, printed An. 1784. 
 
 316 Thoughts on the prefent Mode of Taxation in Great Britain. By Francis Dobbs, 
 
 Efq. London, printed An. 1784. 
 
 317 Obfervations on the National Debt, with Ways and Means for lelTening it very confi- 
 
 derably in the Courfe of Twenty-five Years, by appropriating the Produce of 
 certain Taxes on Property for that Purpofe ; with a Defcription of fuch Taxes, 
 and an Eftimate of their annual Amount. Northampton, printed An. 1 784. 
 
 318 Confiderations on the National Debt, and net Produce of the Revenue ; with a Plan 
 
 for confolidating into one Rate the Land and all other Taxes, &c. h.c. London, 
 printed An. 1784. 
 
 319 The Univerfal Tax Direftory ; fhewing at one View the Amount of botli Parlia- 
 
 mentary and Parochial AirelTments, from One Pound to Five Hundred, by Ta- 
 bles, calculated in the mofi: accurate Manner. London, printed An. 1784. 
 
 320 Obfervations on the Importance of the American Revolution, and the Means of 
 
 making it a Benefit to the World. To which is added, a Letter from Mr. Tur- 
 got, late Comptroller General of the Finances of France ; with an Appendix, 
 containing the Tranflation of the Will of Mr. Fortune Ricard, lately publifhed in 
 France, (written by a learned Gentleman at Lyons under that fictitious Appella- 
 tion ) By Richard Price, D. D. F. R. S. London, printed An. 1784. 
 
 321 Report of Proceedings refpecSting the Sale and Prices of Tea fuice the Alteration of the 
 
 Duties thereon. Eail India-Houfe, 19th November, 1784. 
 
 322 The Claims of the Public on the Minifter and the Servants of the Public, flated. By 
 
 John Earl of Stair. London, printed An. 1785. 
 
 323 Comparative State of the Public Revenues, for the Years ended loth of Odober 
 
 1783, and loth of Oflober 1784. By John Earl of Stair. London, printed 
 An. 1785. 
 
 324 A Narrative of the Conduil of the Tea-Dealers during the late Sales of Teas at the 
 
 India-Houfe. By the Committee of Te.a-Dealers. London, printed An. 1785. 
 
 325 Further Report of Proceedings refpeding the Sale and Prices of Tea fmce the Alte- 
 
 ration of the Duties thereon. Eaft-India-Houfe, 2 lit January, 1785. 
 
 326 An
 
 ^8 APPENDIX. 
 
 326 An Aiii'wer to the Second Report of the Eaft-India Directors fefpe£llng the Sale and 
 
 Prices of Tea. By Richard Twining. To which is added, Mr. Twining's 
 Letter to Robert Prefton, Efq. London, printed An. 1785. 
 
 327 Remarks on the Report of the Eaft-India Directors refpe<fting the Sale and Prices of 
 
 Tea. By Richard Twining. London, printed An. 1785. 
 
 328 Obfervations on the Tea and Window Act, and on the Tea Trade. By Richard 
 
 Twining. London, printed An. 1785. 
 
 329 Remarics on the Commutation A6t. AddrefTed to the People of England. London, 
 
 printed An. 1785. 
 
 330 Letters on Exceffive Taxation. London, printed An. 1785. 
 
 331 A Retrofpeftive View of the increafing Number of the Standing Army of Great Bri- 
 
 tain, from its firft Eftablifliment in 1650, to the general Peace of 1784. Lon- 
 don, printed An. 1785. 
 , 332 The Prefent State of the ManufacSture of Salt explained, and a new Mode fuggefted 
 
 of refining Britifli Salt, fo as to render it equal or fupcrior to the fineft: Foreign 
 Salt. To which is fubjoined, a Plan for aboliftiing the prefent Duties and Rc- 
 ftriiSlions on the Manufafture of Salt, and for fubftituting other Duties lefs bur- 
 thenfome to the Subjefts, more beneficial to the Revenue, and better qualified to 
 promote the Trade of Great Britain. By the Earl of Dundonald. London, 
 printed An. 1785. 
 
 333 An Addrefs to the Members of both Houfes of Parliament, on the late Tax laid on 
 
 Fuftian, and other Cotton Goods, &c. &c. By John V^right, M. D. London, 
 printed An. 1785. 
 
 334 A Short EfTay on the Modes of Defence beft adapted to the Situation and Circum- 
 
 ftances of this Ifland ; with an Examination of the Schemes that have been formed 
 for the Purpofe of fortifying its principal Dock- Yards on very extenfive Plans, 
 which are ready to be carried into Execution by his Grace the Duke of Rich- 
 mond. London, printed An. 1785. 
 J35 An Eflay on the Aftual Rcfources for eftabliftiing the Finances of Great Britain. 
 By George Craufurd, Efq. London, printed An. 1785. 
 
 336 TraiSts on Subjedls of National Lnportance. In Two Parts, i. On the Advan- 
 
 tages of Manufaflures, Commerce, &c. 2. Difficulties ftated to a propofed Af- 
 fcflment of the Land Tax: and another Subject of Taxation propofed, not liable 
 to the fame Objedion. By the Rev. John M'Farlane, D. D. F. R. S. London, 
 printed An. 1786. 
 
 337 The Policy of the Tax on Receipts confidered ; or, a Plea in Favour of the Manu- 
 
 faiSturers. London, printed An. 1786. 
 
 338 Shop Tax. An Addrefs of the Shopkeepers of the City and Liberty of Wefi:minfter to 
 
 the Right Honourable the Lord Mayor, &c. refpefting the Legal and Conftitu- 
 tional Meafures to be purfued to obtain a Repeal of this additional Tax on Shops. 
 London, printed An. 1786. 
 
 339 The Principles of the Commutation A£l eftablifhed by Fadls. By Francis Baring, 
 
 Efq. London, printed An. 1786. 
 
 340 A Short Addrefs to the Public, containing fome Thoughts how the National Debt 
 
 may be reduced, and all Home Taxes, including Land Tax, aboli/hed. By 
 William Lord Newhaven. London, printed An. 1786. 
 
 341 A Short Anfwer to Earl Stanhope's Obfervations on Mr. Pitt's Plan for the Reduc- 
 
 tion of the National Debt. London, printed An. 1786. 
 
 342 The Prefent State of Great Britain confidered, and the National Debt difcufled, to- 
 
 wards a radical and fpeedy Payment. London, printed An. 1786. 
 
 343 Obfervations on the Commutation Projedl; with a Supplement. By Thomas Bates 
 
 Rous, Efq. London, printed An. 1786. 
 
 344 Two Letters, addrelled to the Right Honourable William Pitt, for obtaining an 
 
 equal Syftcm of Taxation, and for reducing the National Debt. By P. Barfoot, 
 Efq. London, printed An. 1786. 
 
 345 The
 
 APPENDIX. 
 
 345 The Dangerous Situation of England ; or, an Addrefs to the Landed, Trading, 
 
 and Funded Interefts on the prefent State of Public AfTiirs. By M. Robinfon, 
 Efq. London, printed An. 1786. 
 
 346 A Short Addrels to the Public, on the Pay of the Britifli Army. London, printed. 
 
 An. 1786. 
 
 347 The Propriety of an AcSual Payment of the Public Debts confidered. By Sir Francis 
 
 Blake, Hart. London, printed An. 1786. 
 
 348 The Efficacy of a Sinking Fund of One Million per Annum, confidered. By Sir 
 
 F'rancis Blake, Bart. London, printed An. 1786. 
 
 349 Confiderations on the Neceffity of lowering the exorbitant Freight of Ships employed 
 
 in the Service of the Eafi-India Company. By Anthony Brough. London, 
 printed An. 1786. 
 
 350 Confiderations on the Annual Million Bill, and on the Real and Imaginary Proper- 
 
 tics of a Sinking Fund. London, printed An. 1787. 
 
 351 The National Debt produdlive of National Profperity. London, printed An. 1787. 
 
 352 Thoughts on the Prefent State of the Application for a Repeal of the Shop Tax; 
 
 with Remarks on Mr. De Lolme's Obfervations on Taxes. London, printed 
 An. 1788. 
 
 OCTAVO TRACTS, without any particular Date. 
 
 X A Letter from a Member of Parliament to his Friend in the Country ; containing his 
 Reafons for being againft the late Aft for preventing the Retail of Spirituous Li- 
 quors ; in which the great Increafe of the Civil Lift by this A6t will be parti- 
 cularly confidered. London. 
 
 2 A Treatife on Publicans and their Bufinefs. i. On the Derivation of the WorcJ 
 
 Publican, &c. 2. On the Impofitions and Loffes Publicans are fubjedt: to, &c. 
 3. Diredions how and to whom to apply for Contributions tovi^ards the Support of 
 his Majefty's Forces when in Quarters, &c. Sec. 
 
 3 Some Thoughts on the Intereft of Money in general, and particularly in the Public 
 
 Funds ; with Reafons for fixing the fame at a lower Rate in both Inftances, with 
 regard efpecially to the Landholders. London. 
 
 4 An Effeftual Remedy totally to prevent Smuggling, and bring into the Revenue One 
 
 Hundred and Ninety-five Thoufand Pounds yearly. In Anfwcr to the Authors of a 
 New Difcovery, in a Letter to a Noble Lord. London. 
 
 5 An Eflay on Spirituous Liquors, with regard to their EfFefts on Health ; in which the 
 
 comparative Wholefomenefs of Rum and Brandy is particularly confidered. By 
 Robert Doffie, Efq. London. 
 
 6 The Right of Appeal to Juries in Caufes of Excife afTerted. London. 
 
 7 An Addrefs to the Great, recommending better Ways and Means of raifing the ne- 
 
 ceflary Supplies, than Lotteries or Taxes, &c. London. 
 
 8 Renovation; or, New Modes of Reprefentation, and raifing Supplies, &c. &c. 
 
 9 An Addrefs to the Parliament of Great Britain, on the important Quefi:ion — " Can 
 
 the National Debt of England be difcharged.'"' 
 10 Machiavel's Letters to the Lords and Commons of Great Britain, propofing infallible 
 Methods to pay the National Debt, &c. &c. London, printed for S. Garnfey. 
 
 LIST 
 
 39
 
 40 
 
 APPENDIX. 
 
 LIST OF WORKS 
 
 MORE PARTICULARLY RELATING TO 
 
 The REVENUE of SCOTLAND. 
 
 1 Confiderations and Propofals for fupplying the prefent Scarcity of Money, and advancing 
 
 Trade. By James Hodges, Gent. Edinburgh, printed An. 1705. 
 
 2 An Eiiquiry into the Reafonablenefs and Confequences of an Union with Scotland ; 
 
 alfo Statements of the refpeiflive Revenues, Debts, Weights, IVIeafures, Taxes, Im- 
 pofitions, &c. &c. of the two Kingdoms. London, printed An. 1706. 
 
 3 An Eflay upon the Fifteenth Article of the Treaty of Union, wherein the Difficulties 
 
 that arife upon Equivalents are fully cleared and explained. Printed An. 1706. 
 
 4 Confiderations in relation to Trade confidered ; and a Short View of our prefent Trade 
 
 and Taxes, compared with what thefe Taxes may amount to after the Ujiion. 
 Printed An. 1706. 
 
 5 A Short View of our prefent Trade and Taxes, compared with what thefe Taxes may 
 
 amount to after the Union ; with fome Reafons why (if we enter into an Union) 
 our Trade fhould be under our own Regulations. Printed An. 1706. 
 
 6 The State of the Excife after the Union, compared with what it is now. Printed 
 
 An. 1706. 
 
 7 The State of the Excife, &c. vindicated from the Remarks of the Author of the Short 
 
 View, &c. Printed An. 1706. 
 S An Enquiry into the State of the Union of Great Britain, and the paft and prefent 
 
 State of the Trade and Public Revenues thereof. By the Wednefday's Club in 
 
 Friday-ftreet. London, printed An. 1717. 
 « Obfervations on the Bill for a Sale of the Forfeited Eftates ; with Reafons againftit, 
 
 humbly offered to the Confideration of both Houfes of Parliament. Edinburgh, 
 
 printed An. 1718. 
 
 10 The Intereft of Scotland confidered with regard to its Police, in employing the Poor, 
 
 its Agriculture, Trade, Manufactures, and Fiflieries. London, printed An. 
 1736. 
 
 11 A Short View of the Prejudice arifuig both to the Country and Revenue, from the 
 
 Impofition on Ale and Beer granted to the City of Edinburgh, and other Boroughs 
 of Scotland. Edinburgh, printed An. i 748. 
 
 J2 An Impartial Account of the Rife, Progrefs, and Nature of the Scheme for aug- 
 menting the Livings of the Scots Clergy. Edinburgh, printed An. 1751. 
 
 J3 An Addrefs to the Noblemen, Sec. Proprietors of Lands in Scothnd, and the Inhabi- 
 tants at large, relative to the Scotch Brewery. By John Cuningham. Printed 
 An. 1781. 
 
 J4 Truths, in Anfwer to Facls publifhed refpe£ling the Scottifh Diftillery. Edinburgh, 
 printed An. 1786. 
 
 15 The Prefent State of the Diftillery of Scotland. By Walter Rofs, Writer to the 
 
 Signet. Edinburgh, printed An. 1786. 
 
 16 Refolutions of the Landed Intereft of Scotland refpefling the Diftillery ; with Reafons 
 
 why the Duty upon Britifh Spirits fhould be levied by an Annual Licence upon the 
 Still, according to its Contents, Edinburgh, printed An. 1786. 
 87 Obfyvations on the Diftillery. 
 
 J 8 Cafe
 
 APPENDIX. 
 
 18 Cafe for the capital Corn Diftillers of Scotland ; containing Objections to a Bill pre- 
 
 pared to be prefented to Parliament, entitled, A Bill for Difcontinuing the former 
 Duties on Low Wines and Spirits, for granting other Duties in Lieu thereof, &c. 
 &c. London, printed An. 1787. 
 
 19 CafeoftheDiftillersof Corn Spirits in North Britain. Printed An. 1787. 
 
 20 Anfwers for the Corn Diftillers in Scotland, to the Memorial of the Corn Diftillers in 
 
 London, prefented to the Lords Commiflioners of his Majefty's Treafury. Printed 
 An. 1788. 
 
 21 Memorial for the Practitioners before Inferior Courts in Scotland, refpe6ling the Taxes 
 
 impofed upon them. Undated. 
 
 41 
 
 LIST OF WORKS 
 
 MORE PARTICULARLY RELATING TO 
 
 The REVENUE of IRELAND. 
 
 1 A Dire£lion for the Plantation in Ulfter ; containing the Means how to increafe the 
 
 Revenue of the Crown with a yearly very great Sum. London, Imprinted An. 
 1610. 
 
 2 An Indenture, containing a Grant of all his Majefty's Revenue of Ireland to Sir 
 
 James Shaen, and others, for Seven Years, commencing the 26th of September, 
 
 1675, inclufive, they paying unto his Majefty the Sum of Twenty Thoufand 
 Pounds the laft Day ef every Calendar Month ; the firft Payment of Twenty 
 Thoufand Pounds to be compleated and made at, or before, the L-ft Day of April 
 
 1676, and the laft Twenty Thoufand Pounds, at, or before, the laft Day of March 
 1683, or within Thirty Days thereafter refpeclively. Dublin, printed An. 1676. 
 
 3 The Intereft of Ireland in its Trade and Wealth ftated. In Two Parts. Firft Part, 
 
 obferves and difcovers the Caufes of Ireland's not more increafing in Trade and 
 Wealth, from the firft Conqueft till now. Second Part, propoferh Expedients to 
 remedy all its Mercantile Maladies, and other Wealth -wafting Enormities, by 
 which it is kept poor and low. By Richard Laurence, Efq. Dublin, printed An. 
 1682. 
 
 4 The Cafe of the Forfeitures in Ireland fairly ftated ; with the Reafons that induced the 
 
 Proteftants there to purchafe them. London, printed An. 1700. 
 
 5 Propofals for raifmg a Million of Money out of the Forfeited Eftates in Ireland, <i^c. 
 
 Dublin, printed An. 1704. 
 
 6 A Letter from a Gentleman to the Truftees of the Irifli Forfeitures. London, printed 
 
 An. 1704. 
 
 G 7 Hiber-
 
 41 APPENDIX. 
 
 7 Hibcrniae Notitia ; or, a Lift of the prcfent Officers in Church and State, and "of alf: 
 
 Payments to be made for Civil and Military Affairs for the Kingdom of Ireland, in- 
 cluding ail Penfions on the Civil and Military Lifts both to Englifkand Foreigners. 
 London, printed An. 1723, 
 
 8 A Defence of the Conduct of the People of Ireland in tlieir unanimous Refufal of Mr; 
 
 Wood's Copper Money. Dublin, printed An. 1724. 
 
 9 A Collection of Traits concerning the Prefent State of Ireland, with refpeft to its 
 
 Riches, Revenues, Trade,, aiid Manufadtures. London, printed An. 1729. 
 
 10 A Lift of the Abfentees of Ireland, and the yearly Value of their Eftates and Incomes - 
 
 fpent Abroad ; with Obfervations on the prefent Trade and Condition of that 
 Kingdom. By Matthew Prior. London, printed An. 1730. 
 
 11 Obfervations on Coin in general ; with fome Propofals for regulating the Value of 
 
 Coin ia Ireland. By Matthew Prior. London, printed An. 1730. 
 
 12 APropofal for the Relief of Ireland, by a Coinage of Monies of Gold and Silver, and- 
 
 a National Bank. London, printed An. 1733. 
 
 13 An Infallible Scheme to pay the Public Debt of this Nation in Six Months. Dublin, 
 
 printed An. 174.O. 
 
 14 A Collection of all the Irifti and Englifh Statutes now in force and ufc relating to his 
 
 Majefty's Revenue in Ireland ; with a View of the Rates of Goods and' Merchan- 
 dizes imported and exported, Sec. &c. By James Fleming. Dublin, printed 
 An. 1 741. 
 1'5 A Difcovery of the True Caufes why Ireland was never entirely fubdued, nor brought 
 under Obedience of the Crown of England, until the Beginning of his Majefty's 
 happy Reign. Printed exactly from the Edition in 1612. London, reprinted An. 
 
 1747- 
 
 16 AMifcellany, including feveral Tracts on various Subjects, including the Querift. By 
 
 the Bifhop of Cloyne. London, printed An. 1752. 
 
 1 7 A Short Account of his Alajefty's Hereditary P.evenue and Private F.ftate in the King- 
 
 dom of Ireland. Dublin, printed An. 1753. 
 
 18 Some Obfervations relative to the late Bill for paying off the Refidue of the National 
 
 Debt of Ireland. London, printed An. 1754. 
 ig Confiderations on the late Bill for Payment of the Remainder of the National Debt ; in 
 which the Occafion of inferting the Claufo relative to his Majefty's Confent, and 
 the Arguments in Support of fuch Hight in the Crown, are impartially Itatcd. 
 Dublin, printed An. X754. 
 
 20 Remarks on a Pamphlet, entitled, Confiderations on the late Bill for paying off the 
 
 National Debt. In Three Parts. With a Supplement. Dublin, printed An. 
 
 1754- 
 
 21 An Anfvver to a Pamphlet, entitled. The Proceedings of the Honourable Houfe of 
 
 Commons of Ireland, in rejecting the altered Money Bill, on December 17, 1753, 
 vindicated, fo far as relates to the Arguments of a Pamphlet, entitled, Confiderations 
 on the late Bill for Payment of the Remainder of the National Debt. Dublin, 
 printed An. 1754. 
 
 22 The Proceedings of the Honourable Houfe of Commons of Ireland, in rejecting the al- 
 
 tered Money Bill, December 17, 1753, vindicated. Dublin, printed An. 1754. 
 
 23 An Anfwer to a Part of a Pamphlet, entitled. The Proceedings of the Honourable 
 
 Houfe of Commons of Ireland, in rejecting the Money Bill, December- 17, 1753, 
 vindicated. Dublin, printed An. 1754. 
 
 24 The Cafe fairly ftated ; or, an Enquiry how far tlie Claufe lately rejected by the Ho- 
 
 nourable Houfe of Commons, would, if ithad pafled, have affected the. Liberties of 
 ti.e People of Ireland. Dublin, printed An. 1754. 
 
 25 A Queftion to be confidered, previous to the Rejection of the Bill for paying off the 
 
 National Debt, upon Account of inferting to the Preamble his Majeity's previous 
 Confent, Dublin, printed An. J 754. 
 
 I 26 A Letter
 
 APPENDIX. 
 
 26 A Letter from a Gentleman at Corke to his Friend in Dublin, concerning the Loan 
 
 Bill, rejected on the 17th of December, 1753. Dublin, printed An. 1754. 
 
 27 An Account of the Revenue and National j)ebt of Ireland ; with fome Obfervatioiis 
 
 on the late Bill for paying off the Natiojial Debt, &c. &c. London, printed An. 
 
 1754- 
 
 28 The State of Ireland laid open to the View of his Majcfty's Subjefts. London, printed 
 
 An. 1754. 
 
 29 Confiderations on the Revenues of Ireland, {hewing the Right, Juftice, and Neceflity 
 
 of nov/ applying the Duties granted there for guarding of the Seas, to Naval Ser- 
 vice, &c. London, printed An. 1757. 
 
 30 Paper Credit confidered, particularly relative to the late Failures of Bankers and Re- 
 
 ceivers in Ireland ; with a Scheme far fupplying the Broken Banks with Cafli, and 
 the Relief of their Sufferers. Dublin, printed. London, reprinted An. 1760. 
 
 31 An EfTayonthe Ancient and Modern State of Ireland, with the various important Ad- 
 
 lantages thereunto derived under the aufpicious Reign of his Majefty Kiiv 
 George the Second. Dublin, printed An. 1760. 
 
 32 An Enquiry into the Legality of Peniions on the Irifh Eftablifliment. By Alexander 
 
 Macaulay, Efq. London, printed An. 1763. 
 
 33 A Letter to Sir L — s O — ■ — n, Bart, on the late Prorogation ; and in Anfwer to his 
 
 Letter to Mr. Faulkner, on the Subject of the rejected Money Bill. Dublin, 
 printed An. I 770. 
 
 34 A Comparative State of the two rejected Money Bills, in 1692 and 1769 ; with fome 
 
 Obfervations on Poyning's Act, and the Explanatory Statute of Philip and Mary, 
 Dublin, printed An. 1770. 
 
 35 A Comparative View of the Public Burdens of Great Britain and Ireland ; with a Pro- 
 
 pofal for putting both Illands on an Equality in regard to the Freedom of Foreign 
 Trade. London, printed An. 1772. 
 
 36 Obfervations on the Brewing Trade of Ireland, fubmitted to the Public. By an Of- 
 
 ficer of the Revenue. Dublin, printed An. 1774. 
 
 37 A Treatife of the Exchequer and Revenue of Ireland. By G. E. Howard, Efq. In 
 
 Two Volumes Quarto. Dublin, printed An. 1776. 
 
 38 A View of the Prefent State of Ireland ; containing Obfervations upon its Trade, Ma- 
 
 nufa<5tures. Agriculture, Revenue, a National Bank, and an Abfentee Tax, &c. 
 London, printed An. 1780. 
 
 39 A Plan for finally fettling the Government of Ireland upon Conftitutional Principles, 
 
 wherein an Iiifli Land Tax is ftrongly recommended. London, printed An. 
 1785. 
 
 40 Charts of the Revenue of Ireland. By James Corry. Dublin, printed An, 1787. 
 
 41 An Effay, containing a few StriiStures on the Union of Scotland with England; and on 
 
 the prefent Situation of Ireland. London, printed An, 1787. 
 
 43 
 
 LIST
 
 44 
 
 APPENDIX. 
 LIST OF WORKS 
 
 RESPECTING THE 
 
 FINANCES of GREAT BRITAIN, 
 
 Written in the French Language. 
 
 I Remarques fur les Avantages & les Defavantages de la France & de la Grande Bre- 
 tagne, par Rapport au Commerce & aux autres Sources de la Puiflance des Etats. 
 Par M. D'Anqueil. Leyde, imprime An. 1754. 
 
 2 Bilan General & Raifonne de I'Angleterre depuis i6oojufqu'a la Fin de 1761. Im- 
 
 prime An. 1762. 
 
 3 Comparaifon de I'Impot de France avec celui d'Angleterre. Londres, imprime An. 
 
 1766. 
 
 4 Memoire fur I'Adminiltration des Finances de I'Angleterre depuis le Paix. Ouvragc 
 
 attribue a M. Grenville. Traduit de I'Anglois a Londres, An. 1768. Mayence, 
 1768. 
 
 5 La RichelTe de I'Angleterre, I'Etat de la Dette Publique, &c. Vienne, An. 1771. 
 
 6 Traite de la Circulation Sc du Credit; contenant une Analyfe raifonne des Fonds 
 
 d'Angleterre. Par M. Pinto. Amfterdam, An. 1771. 
 
 7 Refle£tions fur I'Etat Aduel du Credit Publique de I'Angleterre & de la France, An. 
 
 1781. 
 
 8 Traite fur la Finance : Ouvrage utile aux Anglais, Francais, &c. &c. Londres, 
 
 An. 1784. 
 
 9 Hiftoire de I'Adminiftration de Lord North, Miniftre des Finances en Angleterre depuis 
 
 1770 jufqu'en 1782, & de la Guerre del'Amerique Septentrionale jufqu'a la Paix; 
 fuivie du Tableau Hiftorique des Finances d'Angleterre depuis Guillaume IIL 
 jufqu'en 1784. Par M. Hilliard d'Auberteuil. Londres, An. 1784. 
 
 10 Obfervations Politiques, Morales, & Experimentees, fur les vrais Principes de la 
 
 Finance; fuivies d'un Eflay fur les Moyens de Reforme pour les Finances de la 
 Grande Bretagne. Par M. Hey. Londres, An. 1784. 
 
 11 Eflai fur les Reffources Aftuelles de Grande Bretagne, pour le Retablifiement de fes 
 
 Finances. Traduit dc I'Anglais de M. Craufurd, par M. Dieude. Londres, 
 An. 1785. 
 
 A LIST
 
 A P P E N D 1 X» 45 
 
 OF THE 
 
 PRINCIPAL WORKS 
 
 WRITTEN IN THE 
 
 German Language upon the Subject of Revenue. 
 
 1 Baden: (Carl Friedr. Marckgraf zu:) Meine Antwort auf die Danckfagungen des 
 
 Landes nach Aufhebung der Leibeigenfchaft, i Band. 4to. Carlfruhe, 1783. 
 
 2 Becher : (Dr. Johann Joach :) Politifcher Diflcurs von den eigentlichen Urfachen des 
 
 Auf — und — Abnehmens der Staedte und Laender, verbefTert von Dr. Z. H. 
 Fincken, 2 Theile. 8vo. Franckfurt, 1784. 
 
 3 Bufch : (Joh. Georg:) Abhandlung von dem Geldes-Umlauf in Ruckficht auf die 
 
 Staats-Wirthfchaft, &c. 2 B. Hamburg und Kiel, 1780. 8vo. 
 
 4 Bufching: (A. F.) Befchreibung feiner Reife von Berlin uber Potfdam nach Rekahn, 
 
 I B. 8vo. Leipfig, 1775. 
 
 5 Beytrage : zur Finanz. Litteratur in den PreufTifchen Staaten, 2 B. 8vo. Franckfurt, 
 
 1781. 
 
 6 Anmerckungen, allgemeine und befondere von einheimifchen und fremden Handel, 
 
 von Sammlung einiger Abgaben, j Theil. 4^0. Leipzig, 1776. 
 
 7 Etwas uber allgemeine und befondere Anmercjcungen von einheimifchen Handel, i 
 
 B. 4to. Leipzig, 1776. 
 
 8 Handlungs-Grundfaetze zur Wahren Aufnahme der Laender, i B. 8vo. Franckfurt, 
 
 1768, 
 
 9 Heynitz, Tabellen uber die Staatfvi^irthfchaft eines Europaeifchen Staats der vierten 
 
 Groefle, aus dem Franzoefifchen, i Band. 4to. Leipzig, 1786. 
 10 Hornek : (Joh. von :) Oeflerreich uber alies, wenn es nur w^ill, ganz umgearbeitet 
 
 und mit Anmerkungen verfehen von B. F. Hermann, i Band. 8vo. Berlin und 
 
 Stettin, 1784.5 
 n Hunger: (Joh.Godfr.) Km ze Gcfchichte der Abgaben, befonders der Confumptions 
 
 — und — Handels — Abgaben in Sachfen neblt ihrer VViirkun^ auf die Preifle der 
 
 Waaren und Lebenfmittel, 1 B. 8vo. Drcfden, 1783. 
 12 Ifelin (Ifaac) Ephemeriden der iVlcnfcheit, odcr Bibliotheck der Sittenlehre, der Poll - 
 
 tik und der Gefezgebung, i2mo. Bafel. 
 
 Jahrgaenge 
 
 1777- 
 
 12 Stucke 
 
 1778. 
 
 12 
 
 1780. 
 
 12 
 
 1781. 
 
 12 
 
 1782. 
 
 12 
 
 13 ——— Traume eines Menfchenfreundes, 2 Theile, i2mo. Bafel, 1776. 
 
 14 Jufii
 
 ^ A P P E N D I X. 
 
 14 Juftl (Johann He!niich Gcttl. v.) Staatfwlrthfchaft, a T. Leipzig, 1755. Sro. 
 
 15 Die Gtundfeflc zu der Macht und Gluckfceligkcit dcr Staatcn, 2 15. 410. 
 Koiiigiterg, 176Q. 
 
 :i6 Abhandlurig von den Steuern imd Abgabin, i Band, £vo. Konig(bcrg, 1762. 
 
 17 Syftein Acs I'inanzwefcns, i 13, 410. Hall, 1766. 
 
 18 Korniiandel der freye, als das befte Mittel Mangel und Theurung zu verhutcn, &c. 
 
 1 B. 8vo. Hannover, 1772. 
 
 19 Lith (Wilhclm von der) Politifche Betrachtungen uber die verfchiedenen Artcn von 
 
 Steuern, i B. 8vo. Breflau, 1751. 
 
 20 Dii; waferen. Mittel zur Vergrocfterung eiiws Staats, 8vo. Berlin. 
 
 11 Mauvillon : {']'.) Phyfiokratifche Briete un den H'" Prof. Dohm, i B. -Svo. ' Braunf- 
 
 cluveig, 1780. 
 22 Pfeiffer, Berichtigungen beruhmter Staatz, Finanz, Polizey, Kameral, Kommcrz, 
 
 und Oekonomlfcher Schriften diefes Jahrbunderts von dcni VerfaiFer des Lehrbe- 
 
 grifs, &c. 6 Baende, 8vo, Hanau, 1781. 
 7.3 Reimaru?, Die wichtige frage von der freycn Aus-und-Einfuhr des Getraides, nacli 
 
 der Natiir:und GcCchichte unterfucht, i B. 8vo. Hamburg, 1771.. ,. 
 24 Sci'iarnv.'c'ber (J. L. F. Beurtheilung der wichtigen frage:) Ob csfureinem Ac- 
 
 .kerbau treibenden Staat gerathner fey, einen gefezlichen Korn Preis auf ein oder 
 
 niehrere Jahre eiiizufuhren ? oder. 
 
 Ob es nicht minder bedencklich fey, den Kornhandel jcdermann frey zu geben 
 
 und die Aui — und Einfuhr aufler dem allerhochllen Not'nfall niemablcn cinza- 
 
 fchraenken oder zu verbietcn ? Goettingen, I 771. 
 3.'5 Schlettv/ein' (Job. Aug.) Mittel das allf^emeine Llend riufzuhalten, und die Schulden 
 
 eines Staatszu tilgen, 1 B. Carlfruhe, 1773, -Svo. 
 <i& ■ - . ■ - Die v/ichtigfte Angelegenlieit fur das ganze Publicum, oder die naturliche 
 
 Ordniing dcr Politik, 2 B. 8vo. Carlfruhe, 1773. 
 27 — — Eriauterung und Vertheidigungder naturlichen Ordnung, i B. 8vo. Carlf- 
 ruhe, 1772. 
 ;.8 Grandfefte der Staaten oder die politifche Oekonomie, i Band, Gieflen. 
 
 1770- 
 
 2g I Schriften fur alle Staaten zur Aufklaerung der Ordnung der Natur und Staats 
 
 Regierungs und Finanzwefen, i B. 8vo. Karlfruhe, 1775. 
 30 Archiv fur die Menfchen und Burger in alien Verhaeltniffen, 8 B. 8vo. Leip- 
 
 zig* 
 
 1780. 
 
 131 Neues Archiv fur den Menfchen und Burger, 3 B. 8vo. Leipzig, 1786. 
 
 32Schloefler: (T. G.) Xenocrates oder ueben die Abgaben, an Goethe, i Band. i2mo.' 
 
 Bafel, 1784. 
 33 Die Kunft, ohne Mifwachs thenreZeiten-zn machen, nebft den bewaehrteften Mitteln 
 
 darwider, I B. Svo. Erfurt, 177 1. 
 ■34 Rettungfmittel, das ohnfehlbare wider alle -TTi^arw/?^. i B. Svo. Leipfig, 1772. 
 35 Sendfchreiben drey, die Rettungfmittel wider alle Theurung betrefFend, i Band. 8vo. 
 
 Leipfig, 17711. 
 
 The Comtede Zinzendorf adds, -that of the Works above-mentioned, 
 the. 1.2 th, 13th, 25th, and 31ft Numbers are particularly intitled to 
 attention: containing Obfervations, not only upon Government in 
 general, and a Difcuffion of the Taxes of the different Nations in Eu- 
 rope J but alfo the Principles upon which Finances ought to be regu- 
 lated.
 
 APPENDIX. 47 
 
 fateJ, In a manner the beft calculated for the general Interefts of 
 Society*. 
 
 * The following is a Lift of the bcft Works, written in Holland, upon Commerce ana 
 Finances. 
 
 1 y. Le Long, Koophandely van Amfterdam. 2 Deelen. 0£lavo. 
 
 2 Verhandelingen van de JVIaatfchappij tc Haarlem. 21 Deelen Odlavo. 
 
 3 Verhandelingen van het Zeeuwfche Genoodfchap. lo Deelen. Odlavo^ 
 
 4 De Koopman, In Verfchijdc Vertoogen. Odavo. 
 
 5 Manier van Negotle. 
 
 6 Koop)nanSy Zak-Bock. Odlavo. 
 
 7 Koopmans, Hand-Bock. Odavo. 
 
 8 E. Liifac. Hollands Rykder. 2 Deelen. 06tavo, 
 
 9 Ludovici, Koopmans Syftema. Quarto. 
 
 10 Cras, over den Koophandel. Quarto. 
 
 11 Maij-, Koopmans V extuAing, 1768. 4 Stukken. Oftavo. 
 
 12 Handleiding tot de Hollandfche A'(j!!/)/;aW(;/. 1754. Odlavo. 
 J 3 De Schrandere Hollandfche Koop-Handdaar. 
 
 In Denmark, the beft Publications on Finance are the following : 
 
 1 Andreas Schytte's Danmarks og Norges Naturlige og Politifke forfatning. i Deel, 
 
 Kiobenhavn, 1777. 8vo. 
 
 2 Staternes Udvortes Regering i two Deele. Kiobenhavn, 1774-75. 8vo. 
 
 3 Indvortes Regering i 5 Deele. Kiobenhafn, 8vo. 
 
 4 O. D. Lutkens Anmaerkning ved Andr. Schyttes Saetninger. Odenfe, 1774. 8vo. 
 
 5 Eutropii Philadelphi, z. ^. Erici Pontoppidani Oeconomifke Balance. Kiobenti. 1759. 
 
 6 Philocofmi, «'. e. Chr. Martfelds Betaenkninger over Vigtige Politilke Materier. 
 
 Kiobenhavn, 17 71. 
 
 7 Lutkens Underfogning om nu veerende Forhindringcr for Folke maengden. Kio- 
 
 benhavn, 1 76 1. 
 
 8 N. C. Clauflens Prifkrift om Folke masngden, i Bondeftanden. Kiobenh. 1772. Svo. 
 f) C. Fabricius ueber die Volkfvcrmehrung Dannemarks. 1780. 8vo. 
 
 10 Th. Badens Efterretningom Indrettningerne paa Godfet Bernfdorf. Kiobenh. Svo. 
 
 1 1 Chr. Martfelds Plan for Kornhandelen i Danmark og Nor;;e. 
 
 12 Auguft Henning's PragmatifKe Bidrag Til Kornpolitiets Hiftorie. Kiobenhavn, 
 
 1787. Svo. 
 
 13 Fabricius Breve om Vaarned Re Tighhedens Indflvdelfe h Afflcaffelfe. Kiobenh. 
 
 1786. 
 
 14 J. H. Wiehe ueber die Daenifche Bankzcttel, Handels balanz und den Oftindifchea. 
 
 Handel. Kiobenhavn, 1788. 
 
 ADDENDA.,
 
 4* 
 
 APPENDIX. 
 
 A 
 
 D D 
 
 N D A. 
 
 The following Books ^duere omitted in the Catalogue. 
 
 1 An EfTay on Circulation and Credit. From the French of Monfieur De Pinto. 
 
 Tranflated, with Annotations, by the Re<'. S. Baggs. One Volume Quarto. 
 London, printed An. 1774. 
 
 2 A Treatife of the Revenue and]Falfe Money of the Romans. Tranflated from the 
 
 French. One Volume Oftavo. London, printed An. 1741. 
 
 3 The Mifcellaneous Works of Lord Vifcount Bolingbroke ; containing Reflections on 
 
 the State of the Nation, principally with Regard to her Taxes and her Debts, and 
 on the Caufes and Confcquences of them. In Four Volumes Odtavo. Edin- 
 burgh, printed An. 1773. 
 
 4 Memoirs concerning the Trade and Revenues of the Britilh Colonies in America. 
 
 By John Afliley, Efq. In Two Parts. London, printed 1740 and 1743, 
 
 Abstract of the preceding Catalogue. 
 
 In Folio. I 
 
 In Quarto. \ 
 In Oaavo. I 
 
 Books — — 
 
 Pamphlets — — 
 
 Books — — 
 
 Pamphlets — — 
 
 Books — — 
 Pamphlets (including fuch as are undated) 
 
 Works on the Revenue of Scotland — 
 
 Ditto on the Revenue of Ireland — — 
 
 Addenda — — — __ 
 
 Works written in the French Language 
 Ditto - in the German 
 
 Ditto in the Dutch — 
 
 Ditto in the Danifli - 
 
 Total — 
 
 12 
 
 10 
 
 30 
 lis 
 
 58 
 362 
 
 21 
 
 4» 
 
 4 
 
 653 
 
 II 
 
 35 
 
 14 
 
 726 
 
 APPENDIX.
 
 [ 49 3 
 
 APPENDIX. 
 
 No, III. 
 
 ABSTRACT of the PRICES of the different STOCKS 
 
 fnce the Tear 1730. 
 
 The following Abftrad is drawn up in order to give a general 
 View of the Variations in the Price of the different Funds, and 
 confequently of the State of our Public Credit, fince the Year 
 1730. Thofe who are defirous of procuring more accurate 
 information upon the fubje<3:, may have their curiofity gratified 
 by confuking the different periodical publications, and the books 
 kept at the Stock Exchange, whence this account is taken. 
 The Reader will pleafe to obferve, that where a blank is left, it 
 denotes that there is no variation from the preceding month ; 
 and that the price is in general flated at a medium jrate, neither 
 the higheft nor the loweft. 
 
 T^me. 
 1731- 
 
 India Stock. 
 
 Bank •Stock. 
 
 S. S. Stock. 
 
 S. S. Ann. 
 
 3 per Cents, 
 
 January 189 
 
 144 
 
 103 
 
 106 
 
 95 
 
 Februar}' 190 
 
 145 
 
 lOI 
 
 107 
 
 ?4 
 
 March 198 
 
 147 
 
 103 
 
 108 
 
 96 
 
 April 194 
 
 
 104 
 
 Jo6 
 
 
 May 196 
 
 HS 
 
 102 
 
 
 — 
 
 June 
 
 146 
 
 103 
 
 107 
 
 99 
 
 July 1 94 
 
 147 
 
 
 108 
 
 95 
 
 Auguft 
 
 146 
 
 
 
 
 96 
 
 September — 
 
 148 
 
 
 
 
 
 Odober 1 74 
 
 145 
 
 102 
 
 109 
 
 94 
 
 November 175 
 
 146 
 
 103 
 
 1 10 
 
 95 
 
 December 181 
 
 148 
 
 
 108 
 
 97 
 
 H 1732.
 
 e.o 
 
 APPENDIX. 
 
 Time. 
 
 India Stock. 
 
 Bank Stock. 
 
 S.S. Stock. S. 
 
 S. Ann. 
 
 3 per Cents. 
 
 I732. 
 
 January . 
 February 
 
 178 
 177 
 
 149 
 
 lOI 
 
 110 
 
 96 
 
 
 
 98 
 
 
 
 97 
 
 
 March 
 
 175 
 
 150 
 
 99 
 
 
 — 
 
 
 April 
 
 178 
 
 148 
 
 98 
 
 108 
 
 — 
 
 
 May 
 
 177 
 
 147 
 
 
 
 *"^ 
 
 
 June 
 
 168 
 
 148 
 
 97 
 
 109 
 
 . — — 
 
 
 July 
 
 163 
 
 150 
 
 98 
 
 no 
 
 98 
 
 
 Auguft 
 
 157 
 
 152 
 
 104 
 
 III 
 
 99 
 
 
 September 
 
 
 
 
 
 
 
 
 Oftober 
 
 ^55 
 
 149 
 
 
 
 — 
 
 
 November 
 
 154 
 
 
 
 109 
 
 lOI 
 
 
 December 
 
 
 
 
 
 
 
 ^733- 
 
 January 
 
 February 
 
 March 
 
 159 
 158 
 
 150 
 
 105 
 102 
 
 no 
 
 100 
 
 
 April 
 
 
 
 
 III 
 
 102 
 
 
 May 
 
 162 
 
 
 103 • 
 
 no 
 
 
 
 June 
 
 163 
 
 
 106 
 
 
 103 
 
 
 J^iiy 
 
 160 
 
 
 
 105 
 
 109 
 
 100 
 
 
 Auguft 
 
 15- 
 
 145 
 
 104 
 Trading Stock. 
 
 105 
 
 97 
 
 
 September 
 
 151 
 
 143 
 
 80 
 
 
 97 
 
 
 Odober 
 
 140 
 
 132 
 
 73 
 
 lOI 
 
 92 
 
 
 November 
 
 136 
 
 130 
 
 72 
 
 
 — 
 
 
 December 
 
 141 
 
 137 
 
 81 
 
 102 
 
 "— 
 
 J 734. 
 
 January' 
 
 136 
 
 ^33 
 
 75 
 
 100 
 
 92 
 
 
 February 
 
 135 
 
 132 
 
 . 76 
 
 99 
 
 •7— 
 
 
 March 
 
 136 
 
 
 75 
 
 
 90 
 
 
 April 
 
 
 
 74 
 
 100 
 
 — 
 
 
 May 
 
 142 
 
 >34 
 
 76 
 
 
 — 
 
 
 June 
 
 146 
 
 137 
 
 80 
 
 104 
 
 94 
 
 
 July 
 
 141 
 
 136 
 
 79 
 
 104 
 
 92 
 
 
 Auguft 
 
 142 
 
 — — 
 
 78 
 
 105 
 
 93 
 
 
 September 
 
 146 
 
 140 
 
 81 
 
 106 
 
 94 
 
 
 Oftober 
 
 141 
 
 135 
 
 79 
 
 104 
 
 92 
 
 
 November 
 
 
 
 81 
 
 105 
 
 
 
 December 
 
 149 
 
 ^39 
 
 8J 
 
 106 
 
 94 
 
 1735- 
 
 January 
 
 149 
 
 139^ 
 
 83 
 
 105 
 
 94 
 
 
 FebiTJary 
 
 H7 
 
 140 
 
 82 
 
 106 
 
 92 
 
 
 March 
 
 149 
 
 . 141 
 
 
 107 
 
 94 
 
 
 April 
 
 148 
 
 
 — 
 
 'o 
 
 — 
 
 
 May 
 
 
 138 
 
 »3 
 
 105 
 
 T 
 
 June
 
 
 
 A P 
 
 PEN 
 
 D I X, 
 
 
 
 Time. 
 
 India Stock 
 
 . Bank Stock. 
 
 S. S. Stock. 
 
 S. S. Ann. 
 
 3 per Ceiits. 
 
 
 June 
 
 
 
 
 — ■ • 
 
 
 
 J"iy 
 
 146 
 
 
 82 
 
 106 
 
 97 
 
 
 Auguft 
 
 145 
 
 140 
 
 80 
 
 
 94 
 
 
 September 
 
 147 
 
 
 82 
 
 107 
 
 — 
 
 
 Oftober 
 
 
 
 — 
 
 106 
 
 — • 
 
 
 November 
 
 167 
 
 146 
 
 ^0 
 
 108 
 
 98 
 
 
 December 
 
 169 
 
 '45 
 
 93 
 
 109 
 
 93 
 
 1736. 
 
 January 
 
 169 
 
 147 
 
 95 
 
 109 
 
 100 
 
 
 February 
 
 174 
 
 149 
 
 99 
 
 III 
 
 102 
 
 
 March 
 
 176 
 
 150 
 
 9« 
 
 
 104 
 
 
 April 
 
 
 
 
 
 
 
 May 
 
 
 
 — - 
 
 
 
 
 June 
 
 
 149 
 
 ■ 99 
 
 112 
 
 105 
 
 
 July 
 
 172 
 
 
 
 114 
 
 113 
 
 
 Auguft 
 
 176 
 
 151 
 
 — 
 
 
 T05 
 
 
 September 
 
 
 —— 
 
 ■: — 
 
 
 
 
 Oftober 
 
 178 
 
 148 
 
 -100 
 
 113 
 
 
 
 November 
 
 
 149 
 
 
 III 
 
 
 
 December 
 
 
 148 
 
 
 
 
 1737- 
 
 January 
 
 177 
 
 149 
 
 III 
 
 
 
 
 Febmary 
 
 179 
 
 151 
 
 
 112 
 
 
 
 March 
 
 181 
 
 147 
 
 101 
 
 107 
 
 
 
 April 
 
 180 
 
 145 
 
 102 
 
 108 
 
 
 
 May 
 
 181 
 
 147 
 
 103 
 
 HO 
 
 
 
 Tune 
 
 
 146 
 
 
 
 III 
 
 107 
 
 
 July 
 
 174 
 
 143 
 
 
 HO 
 
 105 
 
 
 Auguft 
 
 176 
 
 145 
 
 lOI 
 
 III 
 
 106 
 
 
 September 
 
 
 
 
 — 
 
 
 
 October 
 
 
 142 
 
 
 
 
 
 November 
 
 
 
 
 
 
 
 December 
 
 
 143 
 
 — — 
 
 HO 
 
 
 1738. 
 
 January 
 
 174 
 
 140 
 
 lOI 
 
 HO 
 
 106 
 
 
 February 
 
 ,76 
 
 141 
 
 
 112 
 
 
 
 March 
 
 174 
 
 
 100 
 
 III 
 
 105 
 
 
 April 
 
 
 
 
 
 
 
 
 
 May 
 
 173 
 
 142 
 
 lOI 
 
 110 
 
 
 
 Tune 
 
 
 
 
 
 
 
 July 
 
 162 
 
 140 
 
 99 
 
 109 
 
 102 
 
 
 Auguft 
 
 170 
 
 143 
 
 lOI 
 
 HI 
 
 105 
 
 
 September 
 
 171 
 
 »4i 
 
 103 
 
 "3 
 
 
 
 Oftober 
 
 J73 
 
 142 
 
 II 2 
 
 
 HI 
 
 November
 
 APPENDIX. 
 
 Time. India Stock. Bank Stock. S. S. Stock. S. S. Ann. 3 per Cents* 
 
 November 141 — — . ■ 
 
 December 121 142 104 ii£ 106 
 
 1739- 
 
 1740. 
 
 1741. 
 
 1742. 
 
 Januaiy 
 
 121 
 
 «43 
 
 103 
 
 IIZ 
 
 104 
 
 February- 
 
 168 
 
 
 
 97 
 
 iir 
 
 
 March 
 
 
 144 
 
 100 
 
 112 
 
 105 
 
 April 
 
 
 142 
 
 
 113 
 
 
 May 
 
 169 
 
 
 
 III 
 
 
 June 
 
 159 
 
 138 
 
 95 
 
 109 
 
 100 
 
 July 
 
 ^53 
 
 137 
 
 94 
 
 108 
 
 98 
 
 Auguft 
 
 «54 
 
 139 
 
 93 
 
 
 99 
 
 September 
 
 ^55 
 
 »34 
 
 94 
 
 
 98 
 
 Oftober 
 
 
 ^35 
 
 — 
 
 106 
 
 97 
 
 November 
 
 iS7 
 
 138 
 
 96 
 
 109 
 
 98 
 
 December 
 
 »59 
 
 139 
 
 97 
 
 no 
 
 100 
 
 January 
 
 '54 
 
 138 
 
 96 
 
 109 
 
 98 
 
 February 
 
 
 J39 
 
 95 
 
 
 99 
 
 March 
 
 
 141 
 
 98 
 
 III 
 
 100 
 
 April 
 
 
 139 
 
 
 
 101 
 
 May 
 
 162 
 
 141 
 
 100 
 
 
 — — 
 
 ]une 
 
 164 
 
 140 
 
 lOI 
 
 112 
 
 100 
 
 July 
 
 159 
 
 142 
 
 
 
 
 Auguft 
 
 104 
 
 144 
 
 
 
 
 lOI 
 
 September 
 
 
 
 95 
 
 
 100 
 
 Odober 
 
 153 
 
 
 — 
 
 108 
 
 99 
 
 November 
 
 
 
 98 
 
 1 10 
 
 
 December 
 
 
 138 
 
 
 109 
 
 — 
 
 January 
 
 157 
 
 140 
 
 I02 
 
 III 
 
 98 
 
 February 
 
 
 142 
 
 lOI 
 
 112 
 
 99 
 
 March 
 
 
 
 102 
 
 
 
 April 
 
 164 
 
 143 
 
 104 
 
 113 
 
 lOI 
 
 May 
 
 ^59 
 
 140 
 
 103 
 
 III 
 
 
 June 
 
 160 
 
 141 
 
 
 
 
 July 
 
 155 
 
 
 
 
 99 
 
 Auguft 
 
 
 
 101 
 
 
 98 
 
 September 
 
 ^57 
 
 
 103 
 
 112 
 
 99 
 
 Odlober 
 
 159 
 
 140 
 
 104 
 
 III 
 
 89 
 
 November 
 
 161 
 
 138 
 
 105 
 
 I 12 
 
 101 
 
 December 
 
 
 i3S 
 
 104 
 
 III 
 
 - 100 
 
 January 
 
 
 136 
 
 
 112 
 
 98 
 
 February 
 
 ^57 
 
 •"""•"""^ 
 
 103 
 
 III 
 
 99 
 March
 
 APPENDIX. sJ- 
 
 Time. India Stock. Bank Stock. S. S. Stock. S.S.Ann. 3 er Cents. 
 
 March 139 105 113 loo 
 
 April 159 137 III 101 
 
 May 161 — — 106 113 ■ 
 
 June 172 142 109 114 102 
 
 July 174 III • 100 
 
 Auguft 173 143 109 101 
 
 September 172 — - ■ 100 
 
 Oftober 174 140 no 113 
 
 November 178 143 m ■ 101 
 
 December — — — — 114 102 
 
 1743. January 145 112 114 loi 
 
 February — — no ' 100 
 
 April 1S6 146 III 113 loi 
 
 May 195 148 115 114 103 
 
 June 147 114 103 102 
 
 July 189 ■ 105 103 
 
 Auguft no 115 102 
 
 September 148 in 115 loi 
 
 Oftober 194 146 113 114 102 
 
 December 147 — — 
 
 1744. January 194 148 113 99 
 
 February 182 145 no 96 
 
 March 168 142 103 108 90 
 
 April ■ 105 — — 93 
 
 June 178 144 108 in — 
 
 July 176 146 109 112 — 
 
 Auguft 147 no — 
 
 September 178 — — — 
 
 Ofteber 144 109 — — — 
 
 November 105 in — 
 
 December 146 ^ — 
 
 1745. January 180 145 109 no 8g 
 
 February 182 106 — 
 
 March 147 107 — 
 
 May 187 146 109 -— 93 
 
 June 186 •- m 92 
 
 July iSi 90 
 
 Auguft
 
 ;j54 A P P E N* D I X. 
 
 Time. 
 
 1746. 
 
 1747- 
 
 1748. 
 
 
 India Stock. 
 
 Banic Stock. 
 
 S.S, Stock. S. 
 
 S.Ann. 3perCcut3. 
 
 Aiigiafl: 
 
 174 
 
 H3 
 
 103 
 
 108' 
 
 87 
 
 September 
 
 17a 
 
 141 
 
 
 102 
 
 85 
 
 Oclober 
 
 172 
 
 •13-9 
 
 ' 100 
 
 lOj 
 
 St> 
 
 November 
 
 169 
 
 133 
 
 98 
 
 103 
 
 
 December 
 
 163 
 
 127 
 
 
 100 
 
 — 
 
 January 
 
 176 
 
 125 
 
 94 
 
 97 
 
 76 
 
 February 
 
 154 
 
 
 
 93 
 
 75 
 
 March 
 
 156 
 
 
 
 
 
 April 
 
 167 
 
 124 
 
 97 
 
 97 
 
 82 
 
 May- 
 
 
 
 
 96 
 
 
 June 
 
 174 
 
 127 
 
 
 97 
 
 «3 
 
 July - 
 
 178 
 
 »33 
 
 105 
 
 102 
 
 85 
 
 Aiiguft 
 
 
 136 
 
 106 
 
 106 
 
 89 
 
 September 
 
 184 
 
 135 
 
 
 
 88 
 
 Odober 
 
 180 
 
 131 
 
 
 104 
 
 85 
 
 November 
 
 
 126 
 
 103 
 
 lOI 
 
 83 
 
 December 
 
 
 128 
 
 104 
 
 Bank 
 
 4 per Cents.* 
 
 84 
 
 January 
 
 180 
 
 127 
 
 103 
 
 95 
 
 83 
 
 February 
 
 177 
 
 128 
 
 99 
 
 97 
 
 84 
 
 March 
 
 175 
 
 129 
 
 loa 
 
 96 
 
 86 
 
 April 
 
 >57 
 
 128 
 
 104 
 
 97 
 
 85 
 
 May 
 
 151 
 
 126 
 
 103 
 
 96 
 
 86 
 
 June 
 
 155 
 
 125 
 
 102 
 
 97 
 
 — 
 
 July 
 
 156 
 
 1.22 
 
 103 
 
 95 
 
 — 
 
 Auguft 
 
 161 
 
 1^5 
 
 104 
 
 93 
 
 82 
 
 September 
 
 i6o 
 
 126 
 
 100 
 
 
 >— 
 
 Odtober 
 
 
 121 
 
 99 
 
 
 
 November 
 
 162 
 
 119 
 
 lOO 
 
 
 
 December 
 
 161 
 
 120 
 
 ^^ 
 
 
 81 
 
 January 
 
 160 
 
 -118 
 
 }00 
 
 91 
 
 79. 
 
 February 
 
 157 
 
 119 
 
 94 
 
 90 
 
 82 
 
 March 
 
 156 
 
 120 
 
 92 
 
 89 
 
 76 
 
 April 
 
 157 
 
 122 
 
 »o5 
 
 93 
 
 80 
 
 May 
 
 170 
 
 124 
 
 106 
 
 96 
 
 88 
 
 June 
 
 176 
 
 126 
 
 no 
 
 100 
 
 90 
 
 July 
 
 184 
 
 127 
 
 107 
 
 97 
 
 89 
 
 Augufl 
 
 178 
 
 
 106 
 
 
 90 
 
 September 
 
 180 
 
 128 
 
 
 98 
 
 88 
 
 * This Stock is now kntTwn under the name of the Three per Cents Reduced, in confe- 
 quence of the Redudtion of Intereft, from Four, to Three and a Half, and afterwards to 
 Three per Cent, during the Adminiltration of iVIr. Pelham. 
 
 4 October
 
 Time. 
 
 1749. 
 
 1750- 
 
 1751. 
 
 A 
 
 P ] 
 
 P E.N. 
 
 D I X. 
 
 
 
 India Stock. 
 
 Bank Stock. 
 
 S.S. Stock. 
 
 Bank 4 per C. 
 
 3perC. 
 
 Oftober 
 
 183 
 
 129 
 
 107 
 
 99 
 
 91 
 
 ^CnvpinKpr 
 
 178 
 
 
 
 97 
 
 r\t^ 
 
 X'l \J V ^lllUV^l 
 
 
 90 
 
 December 
 
 175 
 
 126 
 
 * 
 
 106 
 
 96 
 
 89 
 
 Janviary 
 
 176 
 
 127 
 
 107 
 
 98 
 
 91 
 
 February 
 
 174 
 
 149 
 
 106 
 
 1 01 
 
 94 
 
 March 
 
 ■175- 
 
 131 
 
 107 
 
 102 
 
 95 
 
 April 
 
 177 
 
 128 
 
 
 
 
 
 
 
 May 
 
 179 
 
 134 
 
 114 
 
 105 
 
 100 
 
 June 
 
 1^185 
 
 136 
 
 "5 
 
 106 
 
 99 
 
 July 
 
 486 
 
 137 
 
 116 
 
 105 
 
 100 
 
 Auguft 
 
 189 
 
 140 
 
 I'S 
 
 104 
 
 
 
 September 
 
 191 
 
 139 
 
 117 
 
 
 lOI 
 
 
 Oa .ber 
 
 190 
 
 ^38 
 
 115 
 
 105 
 
 102 
 
 November 
 
 189 
 
 ^35 
 
 112 
 
 104 
 
 99 
 
 December 
 
 188 
 
 ^33 
 
 III 
 
 
 100 
 
 January 
 
 186 
 
 134 
 
 110 
 
 102 
 
 98 
 
 February 
 
 187 
 
 132 
 
 II I 
 
 ICO 
 
 99 
 
 March 
 
 188 
 
 134 
 
 109 
 
 102 
 
 
 April 
 
 185 
 
 131 
 
 1 10 
 
 103 
 
 100 
 
 May 
 
 184 
 
 133 
 
 
 104 
 
 
 
 
 June 
 
 188 
 
 134 
 
 112 
 
 105 
 
 lOI 
 
 July 
 
 187 
 
 132 
 
 
 102 
 
 
 
 
 Auguft 
 
 186 
 
 135 
 
 I II 
 
 ^03 
 
 100 
 
 September 
 
 184 
 
 
 "3 
 
 104 
 
 
 
 
 Oftober 
 
 185 
 187 
 188 
 
 ^33 
 
 1-34 
 136 
 
 7 T 9 
 
 
 lOI 
 
 "N^ovpm l">pr 
 
 1 X £t 
 
 
 December 
 
 113 
 
 103 
 
 99 
 
 January 
 
 185 
 
 ^35 
 
 112 
 
 100 
 
 97 
 
 February 
 
 186 
 
 136 
 
 no 
 
 1 01 
 
 98 
 
 March 
 
 187 
 
 139 
 
 I 12 
 
 102 • 
 
 99 
 
 April 
 
 r89 
 
 137 
 
 113 
 
 103 
 
 100 
 
 May 
 
 192 
 
 138 
 
 114 
 
 104 
 
 99 
 
 June 
 
 195 
 
 141 
 
 "5 
 
 
 lOI 
 
 
 July 
 
 190 
 
 *• 140 
 
 116 
 
 103 
 
 103 
 
 Auguft 
 
 184 
 
 139 
 
 113 
 
 104 
 
 100 
 
 September 
 
 187 
 
 142 
 
 115 
 
 105 
 
 99 
 
 Oftober 
 
 188 
 
 140 
 
 117 
 
 104 
 
 100 
 
 Nnvf*mhpr 
 
 " 190 
 189 
 
 1-42 
 143 
 
 113 
 117 
 
 
 TOT 
 
 December 
 
 103 
 
 1\J i. 
 
 102 
 
 '55 
 
 January
 
 56 APPENDIX. 
 
 ' Time. India Stock. Bank Stock. S.S. Stock. Bank 4. per C. jperC, 
 
 1752.. January 187 141 118 104 101 
 
 February 188 144 116 105 loz 
 
 March 187 145 117 104 
 
 April 189 143 1 18 103 
 
 May 190 146 120 107 104 
 
 June . 192 147 121 106 105 
 
 July 186 148 109 106 
 
 Augull 188 146 no id8 105 
 
 Sepcember 191 144 119 107 — »- 
 
 Oftober 192 143 121 106 104 
 
 November 194 142 122 107 
 
 December(j8th)i95 143 laj 108 io6| 
 
 Reduced to 3 x- 
 
 %753- January 191 144 122 107 106 
 
 February 192 143 121 104 
 
 March 193 141 120 106 
 
 April 194 140 105 
 
 May 195 138 
 
 June 197 137 t2i 
 
 July ^93 ' 122 107 
 
 Auguft 192 138 120 103 
 
 September 191 137 104 
 
 Oftober 193 136 119 105 
 
 November J94 135 120 
 
 December 193 136 121 104 105 
 
 i754. "January 187 135 103 104 
 
 February 188 134 118 J04 102 
 
 March 1.86 133 117 
 
 April 189 132 118 105 103 
 
 May 190 133 119 104 
 
 June 192 134 105 104 
 
 July 137 
 
 Auguft 188 130 118 
 
 September 187 132 
 
 Oftober 185 133 116 104 103 
 
 November 183 132 103 102 
 
 December 182 129 117 101 
 
 4755. January 180 130 114 102 100 
 
 February 176 129 113 loo 101 
 
 March 173 131 112 99 99 
 
 April 171 129 109 98 98 
 
 May 172 126 III 99 97 
 
 June
 
 APPENDIX. 
 
 57 
 
 Time. Indi 
 
 ia Stock. 
 
 Bank Stock. 
 
 S.S. Stock. 
 
 Bank 4 per C. 
 
 3 per C. 
 
 June 
 
 174 
 
 127 
 
 112 
 
 93 
 
 99 
 
 July 
 
 ,67 
 
 126 
 
 104 
 
 92 
 
 
 Auguft 
 
 165 
 
 127 
 
 103 
 
 93 
 
 92 
 
 September 
 
 166 
 
 123 
 
 104 
 
 
 90 
 
 Oftober 
 
 148 
 
 122 
 
 103 
 
 gt 
 
 93 
 
 November 
 
 149 
 
 123 
 
 10+ 
 
 93 
 
 91 
 
 December 
 
 150 
 
 120 
 
 105 
 
 
 92 
 
 
 
 
 Bank 3^ per Cent; 
 
 
 1756. January 
 
 145 
 
 121 
 
 104 
 
 92 
 
 89 
 
 February 
 
 143 
 
 119 
 
 lOI 
 
 91 
 
 
 March 
 
 142 
 
 120 
 
 TOO 
 
 90 
 
 — . 
 
 April 
 
 141 
 
 118 
 
 I02 
 
 
 90 
 
 May 
 
 140 
 
 117 
 
 lOI 
 
 89 
 
 89 
 
 June 
 
 ^35 
 
 116 
 
 100 
 
 
 — 
 
 July 
 
 ^33 
 
 117 
 
 
 
 87 
 
 Augufl: 
 
 134 
 
 116 
 
 99 
 
 88 
 
 89 
 
 September 
 
 ^33 
 
 117 
 
 100 
 
 89 
 
 88 
 
 Odtober 
 
 
 115 
 
 99 
 
 90 
 
 — 
 
 November 
 
 ^35 
 
 116 
 
 
 88 
 
 89 
 
 December 
 
 136 
 
 "5 
 
 100 
 
 87 
 
 88 
 
 1757. January 
 
 ^33 
 
 116 
 
 lOI 
 
 88 
 
 86 
 
 February 
 
 13s 
 
 117 
 
 100 
 
 85 
 
 87 
 
 March 
 
 137 
 
 119 
 
 99 
 
 91 
 
 89 
 
 April 
 
 139 
 
 116 
 
 lOI 
 
 90 
 
 88 
 
 May 
 
 142 
 
 119 
 
 . 
 
 89 
 
 89 
 
 June 
 
 140 
 
 '13 
 
 102 
 
 — 
 
 90 
 
 July 
 
 133 
 
 119 
 
 
 — 
 
 88 
 
 Auguft 
 
 130 
 
 120 
 
 
 90 
 
 89 
 
 September 
 
 138 
 
 
 100 
 
 
 91 
 
 Odober 
 
 141 
 
 119 
 
 
 89 
 
 
 November 
 
 142 
 
 117 
 
 104 
 
 90 
 
 89 
 
 December 
 
 140 
 
 118 
 
 
 
 90 
 
 1758. January 
 
 141 
 
 119 
 
 103 
 
 — i 
 
 91 
 
 February 
 
 145 
 
 121 
 
 104 
 
 92 
 
 94 
 
 March 
 
 146 
 
 122 
 
 106 
 
 93 
 
 3perC. 
 
 Confol. 
 
 April 
 
 147 
 
 119 
 
 105 
 
 
 93 
 
 May 
 
 148 
 
 121 
 
 
 — 
 
 94 
 
 June ' 
 
 146 
 
 122 
 
 106 
 
 
 95 
 
 July 
 
 140 
 
 120 
 
 107 
 
 
 97 
 
 Auguft 
 
 132 
 
 118 
 
 108 
 
 — i 
 
 90 
 
 September 
 
 ^35 
 
 
 lOI 
 
 — 
 
 89 
 
 Odober 
 
 134 
 
 117 
 
 102 
 
 •M 
 
 90 
 
 
 
 I 
 
 
 November
 
 i$ APPENDIX. 
 
 Time. India Stock. Bank Stock. S.S. Stock. ^^^''^ J. P" ^"^"^^li*' 
 
 1759' 
 
 1760. 
 
 i^6i. 
 
 1762. 
 
 Noivember 
 
 136 
 
 
 100 
 
 
 91 
 
 December 
 
 137 
 
 
 
 
 89 
 
 January 
 
 133 
 
 116 
 
 98 
 
 
 88 
 
 February 
 
 135 
 
 117 
 
 97 
 
 — — . 
 
 86 
 
 March 
 
 134 
 
 
 95 
 
 ■ 
 
 8a 
 
 April 
 
 129 
 
 
 9i 
 
 ■ 
 
 80 
 
 May 
 
 128 
 
 113 
 
 92 
 
 ^ ■ • 
 
 — 
 
 June 
 
 126 
 
 114 
 
 
 
 79 
 
 July 
 
 123 
 
 III 
 
 — 
 
 
 — 
 
 Auguft 
 
 125 
 
 no 
 
 94 
 
 
 82 
 
 September 
 
 126 
 
 112 
 
 
 
 81 
 
 Oaober 
 
 130 
 
 
 95 
 
 — ,— 
 
 — 
 
 November 
 
 134 
 
 III 
 
 96 
 
 — — 
 
 84 
 
 December 
 
 141 
 
 "3 
 
 97 
 
 
 ~— 
 
 January 
 
 134 
 
 114 
 
 96 
 
 
 82 
 
 February 
 
 
 112 
 
 90 
 
 
 81 
 
 March 
 
 13s 
 
 no 
 
 
 
 82 
 
 April 
 
 137 
 
 
 92 
 
 
 — 
 
 May 
 
 1,36 
 
 109 
 
 94 
 
 
 — 
 
 June 
 
 138 
 
 no 
 
 — 
 
 
 — 
 
 July 
 
 140 
 
 III 
 
 93 
 
 
 83 
 
 Auguft 
 
 139 
 
 
 
 
 — 
 
 September 
 
 141 
 
 
 — 
 
 — — 
 
 82 
 
 Odober 
 
 142 
 
 no 
 
 — 
 
 
 83 
 
 November 
 
 139 
 
 107 
 
 90 
 
 
 80 
 
 December 
 
 140 
 
 106 
 
 88 
 
 
 76 
 
 January 
 
 137 
 
 105 
 
 86 
 
 88 
 
 74- 
 
 February 
 
 136 
 
 104 
 
 — 
 
 8^ 
 
 73 
 
 March 
 
 »35 
 
 107 
 
 &7 
 
 90 
 
 76 
 
 April 
 
 143 
 
 "5 
 
 88 
 
 100 
 
 88 
 
 May 
 
 144 
 
 114 
 
 96 
 
 102 
 
 87 
 
 Tune 
 
 143 
 
 
 — 
 
 lOI 
 
 86 
 
 July 
 
 141 
 
 1^5 
 
 
 
 81 
 
 Auguft 
 
 134 
 
 112 
 
 90 
 
 94 
 
 76. 
 
 September 
 
 133 
 
 in 
 
 88 
 
 92 
 
 74 
 
 Odober 
 
 128 
 
 
 84 
 
 88 
 
 72 
 
 November 
 
 127 
 
 103 
 
 83 
 
 8€ 
 
 7^ 
 
 December 
 
 123 
 
 98 
 
 81 
 
 81 
 
 66- 
 
 January 
 
 "5 
 
 94 
 
 76 
 
 74 
 
 63 
 
 Febmary 
 
 114 
 
 9.5 
 
 75 
 
 78 
 
 68 
 
 March ' 
 
 »i5 
 
 96 
 
 78 
 
 77 
 
 67 
 April
 
 APPENDIX. 
 
 5? 
 
 Time. 
 
 1763- 
 
 J 764. 
 
 1^5' 
 
 India Stock. 
 
 Bank Stock, 
 
 S. S. Stock. ' 
 
 tsanK 4 per 
 Cents. 
 
 3 per J^en 
 Confol. 
 
 April 
 
 117 
 
 97 
 
 79 
 
 81 
 
 70 
 
 May 
 
 118 
 
 98 
 
 81 
 
 85 
 
 73 
 
 June 
 
 
 
 — 
 
 83 
 
 72 
 
 July 
 
 116 
 
 zoo 
 
 84 
 
 84 
 
 75 
 
 Auguft 
 
 134 
 
 108 
 
 95 
 
 95 
 
 79 
 
 September 
 
 145 
 
 102 
 
 9^ 
 
 91 
 
 8i 
 
 Oftober 
 
 >39 
 
 109 
 
 94 
 
 92 
 
 80 
 
 November 
 
 ^5i 
 
 no 
 
 98 
 
 100 
 
 86 
 
 December 
 
 157 
 
 119 
 
 lOI 
 
 97 
 
 87 
 
 January 
 
 158 
 
 120 
 
 102 
 
 100 
 
 90 
 
 February 
 
 169 
 
 126 
 
 105 
 
 105 
 
 93 
 
 March 
 
 170 
 
 131 
 
 106 
 
 108 
 
 96 
 
 April 
 
 172 
 
 126 
 
 
 107 
 
 92 
 
 May 
 
 170 
 
 123 
 
 
 105 
 
 91 
 
 June 
 
 171 
 
 122 
 
 104 
 
 106 
 
 
 July 
 
 165 
 
 118 
 
 
 100 
 
 89 
 
 Auguft 
 
 162 
 
 114 
 
 95 
 
 97 
 
 87 
 
 September 
 
 159 
 
 116 
 
 94 - 
 
 95 
 
 84 
 
 Oftober 
 
 »54 
 
 III 
 
 92 
 
 94 
 
 
 November 
 
 ^55 
 
 ZI2 
 
 94 
 
 96 
 
 83 
 
 December 
 
 157 
 
 "3 
 
 93 
 
 
 
 January 
 
 158 
 
 114 
 
 94 
 
 95 
 
 82 
 
 February 
 
 159 
 
 116 
 
 93 
 
 
 84 
 
 March 
 
 «5a 
 
 117 
 
 95 
 
 97 
 
 86 
 
 April 
 
 »54 
 
 «i5 
 
 
 98 
 
 83 
 
 May 
 
 149 
 
 114 
 
 — 
 
 99 
 
 
 June 
 
 145 
 
 «'3 
 
 — 
 
 
 _ 
 
 July 
 
 H7 
 
 
 93 
 
 94 
 
 81 
 
 Auguft 
 
 146 
 
 
 92 
 
 
 82 
 
 September 
 
 148 
 
 122 
 
 
 — 
 
 83 
 
 Odober 
 
 150 
 
 123 
 
 95 
 
 93 
 
 80 
 
 November 
 
 »53 
 
 127 
 
 
 94 
 
 82 
 
 December 
 
 151 
 
 122 
 
 — 
 
 98 
 
 83 
 
 January 
 
 152 
 
 126 
 
 96 
 
 97 
 
 85 
 
 February 
 
 
 130 
 
 
 98 
 
 87 
 
 March 
 
 
 
 
 
 
 April 
 
 154 
 
 
 
 
 '— 
 
 May 
 
 
 
 
 97 
 
 
 June 
 
 — — 
 
 129 
 
 
 98 
 
 U 
 
 July 
 
 156 
 
 133 
 I 2 
 
 102 
 
 100 
 
 Aueuf
 
 Co 
 
 APPENDIX. 
 
 Time. 
 
 India Stock. B^St^c^. S.S. Stock. 
 
 Auguft 
 
 September 
 
 Oftober 
 
 November 
 
 December 
 
 1766. January- 
 February 
 March 
 April 
 May 
 June 
 
 July 
 
 Auguft 
 
 September 
 
 Odober 
 
 November 
 
 Decenjber 
 
 17.67. January 
 February 
 March 
 April 
 May 
 June 
 
 July 
 
 Augt:ft 
 
 September 
 
 Oaober 
 
 November 
 
 December 
 
 1768. January- 
 February 
 March 
 April 
 May 
 June 
 
 July- 
 
 Auguft 
 
 163 
 
 136 
 
 
 
 
 
 162 
 
 134 
 
 lot 
 
 1-78 
 
 102 
 
 189 
 
 207 
 223 
 
 218 
 
 217 
 
 220 
 234 
 
 246 
 
 254 
 248 
 250 
 
 253 
 
 267 
 270 
 
 273 
 268 
 265 
 
 260 
 261 
 262 
 272 
 271 
 269 
 
 275 
 
 276 
 
 September(6th)2 76-j: 
 Odtober 275 
 November 271 
 Pecember 272 
 
 135 
 
 136 
 
 H9 
 
 141 
 
 142 
 
 144 
 
 147 
 148 
 
 150 
 152 
 158 
 
 J 58 
 
 161 
 163 
 
 165 
 166 
 167 
 168 
 164 
 166 
 167 
 162 
 j6o 
 161 
 
 lOI 
 
 104 
 102 
 104 
 
 105 
 107 
 108 
 
 109 
 
 108 
 106 
 107 
 108 
 no 
 
 J 05 
 
 104 
 
 Bank 4 per 
 
 Cents. 
 
 99 
 102 
 
 iq4- 
 
 102 
 10.0 
 103 
 
 lOI 
 
 102 
 
 103 
 
 101 
 
 102 
 
 100 
 101 
 103 
 
 102 
 
 lOI 
 
 102 
 
 103 
 
 104 
 
 108 
 103 
 
 104 
 
 lOI 
 
 103 
 
 99 
 
 100 
 
 lOI 
 
 3 per Cent, 
 Confol. 
 
 87 
 89 
 
 91 
 92 
 
 90 
 
 89 
 87 
 88 
 89 
 90 
 
 88 
 90 
 
 87 
 89 
 
 88 
 89 
 88 
 
 87 
 
 88- 
 90 
 
 91 
 90 
 
 91 
 92 
 
 93 
 
 92 
 90 
 89 
 
 88 
 
 89 
 
 January
 
 APPENDIX. . 6* 
 
 Time. India Stock. Bank Stock. S. S. Stock. ^^"Jf '^ P^"" 3 P" Cent. 
 
 ^ T Cents. Confol. 
 
 1769. January 275 162 103 loz 88 
 
 February 276 163 
 
 March 275 165 
 
 April 273 164 106 — 
 
 May 264 166 105 99 89 
 
 June 237 100 — 
 
 July. 225 
 
 Auguft 228 168 104 - — 
 
 September(sth)227 i68-|- loi 88 
 
 October 226 160 98 
 
 November 224 159 102 ^3 84 
 
 Decernber zzo 150 
 
 June 
 
 220 
 
 September 218 i 
 
 Odlober 2 1 6 
 
 94 
 
 1^70, Januaiy 217 152 96 85 
 
 February 218 15 j p. S7 
 
 March 227 151 
 
 April 154 — 
 
 May 148 ^5 85 
 
 November 217 148 o^ 
 
 December 1 ro . 
 
 84 
 
 July 217 145 — — — 83 
 
 Auguft 219 138 94 78 
 
 September 196 137 9^ 
 
 Oftober 197 133 __ ^5" __ 
 
 November 181 132 88 
 
 December 134 g^ 
 
 177 1. January 214 148 87 86 
 
 February 213 93 85 
 
 March 216 146 97 87 
 
 April 223 155 98 88 
 
 May 228 153 95 81 
 
 . June 155 _ _ 86 
 
 July . — — 96 -- 
 
 Auguft 217 
 
 54 — 87 
 
 149 
 
 86 
 
 J772. January 219 152 _ g- 
 
 February 215 , __ 
 
 March 112 
 
 ■^Pril 215 149 _ 88 
 
 May
 
 iz 
 
 Time. 
 
 APPENDIX. 
 
 India Stock. Bank Stock. S.S. Stock. n^.Z. ^n^^r^i 
 
 Cents. 
 
 May 
 June 
 
 July ^ 
 
 Auguft 
 
 September 
 
 Oftober 
 
 November 
 
 December 
 
 1773, January 
 February 
 March 
 April 
 May 
 June 
 
 July 
 
 Auguft 
 
 September 
 
 Odtober 
 
 November 
 
 December 
 
 1774. January 
 February 
 March 
 April 
 May 
 June 
 
 July 
 
 ^ Auguft 
 September 
 Oftober 
 November 
 December 
 
 mS' January 
 February 
 March 
 April 
 May 
 June 
 July 
 Auguft 
 
 223 
 224 
 223 
 208 
 194 
 181 
 165 
 167 
 
 i6o 
 162 
 
 146 
 142 
 
 ^5* 
 154 
 149 
 144 
 140 
 
 139 
 140 
 141 
 
 J47 
 
 148 
 
 H7 
 149 
 
 «5a 
 
 153 
 ^5S 
 »59 
 
 157 
 
 »53 
 
 150 
 151 
 
 149 
 148 
 
 M7 
 144 
 
 145 
 
 143 
 142 
 
 »43 
 
 139 
 
 140 
 
 142 
 
 143 
 
 141 
 
 140 
 
 139 
 141 
 
 »39 
 
 '45 
 
 143 
 141 
 
 142 
 
 143 
 
 H5 
 
 146 
 
 142 
 144 
 142 
 
 94 
 
 93 
 
 94 
 
 96 
 
 98 
 
 99 
 
 93 
 
 92 
 
 £1 
 90 
 
 Confol, 
 
 95 
 89 
 
 88 
 
 87 
 
 -^ 
 
 86 
 
 z 
 
 87 
 
 St 
 
 90 
 
 86 
 
 9« 
 
 — 
 
 90 
 91 
 
 S7 
 86 
 
 — 
 
 87 
 
 , , , 
 
 88 
 
 89 
 
 90 
 
 87 
 
 88 
 
 89 
 September
 
 APPENDIX. 69 
 
 Time. India Stock. Bank Stock. S. S. Stock. ^""^ 4 per 3 per Cent. 
 
 Cents. Confol. 
 
 September 156 141 — — _ 
 
 Oiftober 155 144 gS -— — 
 
 November 165 140 97 91 88 
 
 December 164 142 — _ _ 
 
 fjj6. January 
 February 
 March 
 April 
 May 
 June 
 July _- 94 
 
 1/63 
 
 H3 
 
 96 
 
 ^65 
 
 142 
 
 95 
 
 162 
 
 141 
 
 — 
 
 155 
 
 
 
 i6o 
 
 138 
 
 
 137 
 
 163 
 167 
 
 134 
 135 
 
 169 
 
 136 
 
 ^38 
 
 165 
 
 134 
 
 132 
 
 90 
 
 90 
 
 — 
 
 89 
 
 — 
 
 87 
 
 — 
 
 85 
 
 — 
 
 85 
 
 — 
 
 84 
 
 88 
 
 82 
 
 87 
 
 -— 
 
 
 83 
 
 «3 
 
 81 
 
 — 
 
 82 
 
 84 
 
 80 
 
 
 78 
 
 — ■ 
 
 79 
 
 Auguft 
 
 September 
 
 Oftober 
 
 November 
 
 December 
 
 1777. January 
 February 
 March 
 April 
 May 
 
 June i~22 — -_ 76 
 
 July _ _ L 
 
 Auguft 158 130 — — — 
 
 September ■ ■■■ — — 78 
 
 Odtober 163 1^9 — — 
 
 November 165 130 — — — . 
 
 December 167 — _- ^g 
 
 1778. January 164 120 — — 72 
 February 158 117 — — 70 
 MarcJi 144 113 — — 64 
 April 137 107 — — 61 
 May 129 109 — — — 
 
 June — — 62 
 
 July 134 _ _ 6, 
 
 Auguft 136 115 — — 63 
 
 September 114 — — 6^ 
 
 Oftober — 113 — — 66 
 
 November 139 110 — — 63 
 
 December 141 — — 62 
 
 1779.
 
 i^4 A P P E N i) I X. 
 
 Time. India Stock. Bank Stock. S. S. Stock. 4 per Cents. 3 per Cents. 
 
 177^. January 140 107 — — 60 
 
 February 148 109 — — 59 
 
 March — — 61 
 
 April . 155 _ — 64 
 
 May 151 ■ , ' ■ ■ — — 63 
 
 June 112 — — 60 
 
 July — — 59 
 
 Auguft 108 — — 61 
 
 September 
 
 Odtober 
 
 November 
 
 ■^55 
 151 
 
 
 112 
 
 
 
 108 
 III 
 
 
 144 
 
 
 
 
 150 
 
 »i3 
 
 156 
 
 157 
 
 150 
 
 112 
 
 "3 
 116 
 
 114 
 
 
 III 
 
 . .. 
 
 146 
 
 108 
 
 December — — 60 
 
 1780. January 150 113 — — 61 
 
 February — — 114 — -^ — 
 
 April 156 112 — — 60 
 
 May 
 
 June 
 
 July 116 — — 63 
 
 Auguft 
 September 
 
 Oftober —— — — 61 
 
 November 
 December 
 
 1 781: January 146 108 *"" '— 57 
 
 February (ift) 148 1054- — — 58 
 
 March — — 112 — — 59 
 
 April ■ — — — 
 
 May 
 
 June 116 — — 57 
 
 July 
 
 Auguft 
 
 September 140 no — — 56 
 
 Odtober 
 
 November 
 
 December 
 
 1782. January 130 no — — 55 
 
 February (27th) — ■ — — 5$^ 
 
 March 112 — — 54 
 
 April 114 — — 57 
 
 May — • 115 rr — 59 
 
 June 
 
 
 113 
 116 
 
 140 
 
 139 
 
 114 
 
 no 
 III 
 

 
 APPENDIX. ^^ 
 
 Time India Stock. Bank Stock. S.S. Stock. 4 per Cents. 3 per Cents. 
 
 June c-e^— _ _ 60 
 
 July ,,-;i4 _ _ ,8 
 
 Auguft _ __ ^6 
 
 September __ .^ ^7 
 
 October 134 115 ^ __ ^g 
 
 November • 
 
 December 
 
 1783. January 140 ■ 117 76 
 
 1784. 
 
 1785. 
 
 January 
 
 140 
 
 ■ ii7 
 
 February 
 
 145 
 
 126 
 
 March 
 
 141 
 
 134 
 
 April 
 
 138 
 
 135 
 
 May 
 
 
 
 
 ^iZ 
 
 June 
 
 
 131 
 
 July 
 
 
 126 
 
 Auguft 
 
 
 127 
 
 September 
 
 141 
 
 
 Oaober 
 
 125 
 
 118 
 
 November 
 
 120 
 
 115 
 
 December 
 
 119 
 
 112 
 
 January (14) 
 
 1 1 84. 
 
 "3 
 
 February 
 
 123 
 
 116 
 
 March 
 
 124 
 
 118 
 
 April 
 
 
 T T f* 
 
 
 115 
 
 May 
 
 -^ — 
 
 114 
 
 June 
 
 July 
 
 122 
 
 
 ^ ^*^ 
 
 116 
 
 Auguft 
 
 lie, 
 
 117 
 
 September 
 
 126 
 
 III 
 
 Odober 
 
 
 112 
 
 November 
 
 
 IIO 
 
 December 
 
 .128 
 
 112 
 
 January 
 
 132 
 
 116 
 
 February 
 
 130 
 
 "5 
 
 March 
 
 151 
 
 117 
 
 April 
 
 ^32, 
 
 112 
 
 May 
 
 135 
 
 115 
 
 June 
 
 136 
 
 117 
 
 July 
 
 140 
 
 118 
 
 Auguft 
 
 142 
 
 120 
 
 September 
 
 147 
 
 122 
 
 Odlober 
 
 149 
 
 129 
 
 K 
 
 64 
 
 66 
 
 — 
 
 59 
 
 — ' 
 
 61 
 
 .^ 
 
 64 
 
 85- 
 
 66 
 
 — 
 
 68 
 
 __, J 
 
 - ,^ 
 
 86'- 
 
 66 
 
 84- 
 
 67 
 
 83 
 
 
 — 
 
 66 
 
 — 
 
 6j 
 
 — 
 
 62 
 
 — — 
 
 58 
 
 -m'' 
 
 57 
 
 76 
 
 56 
 
 74 
 
 55 
 
 — 
 
 56 
 
 75 
 
 57 
 
 73 
 
 — 
 
 74 : 
 
 55 
 
 ~" 
 
 54 
 
 70 
 
 55 
 
 71 
 
 56 
 
 •— 
 
 55 
 
 73 
 
 57 
 58 
 
 74 
 
 »i-» 
 
 75 
 76 
 
 59 
 65 
 66 
 
 
 November
 
 ^ APPENDIX. 
 
 Time. India Stock. Bank Stock. S.S. Stock. 4 per Cents. 3 per Cents. 
 
 November -< — 130 — 82 70 
 
 December 156 139 — 87 71 
 
 .X786. 
 
 78 
 8i 
 
 1787. 
 
 January 
 
 155 
 
 ■ 140 
 
 Febniary 
 
 156 
 
 139 
 
 March 
 
 158 
 
 140 
 
 April 
 
 '-159 
 
 138 
 
 May 
 
 161 
 
 137 
 
 June 
 
 i6a 
 
 143 
 
 July 
 
 161 
 
 146 
 
 Auguft 
 
 166 
 
 149 
 
 Septembef 
 
 168 
 
 151 
 
 Oftober 
 
 ^65 
 
 158 
 
 November 
 
 166 
 
 150 
 
 December 
 
 
 148 
 
 January 
 
 163 
 
 149 
 
 February 
 
 164 
 
 150 
 
 March 
 
 166 
 
 15^ 
 
 April 
 
 168 
 
 «53 
 
 May 
 
 169 
 
 »54 
 
 June 
 
 -171 
 
 156 
 
 July 
 
 - 169 
 
 150 
 
 Auguft 
 
 »59 
 
 H7 
 
 September 
 
 j63 
 
 148 
 
 Oftober 
 
 1 69 
 
 146 
 
 November 
 
 J 73 
 
 149 
 
 December 
 
 J75 
 
 »54 
 
 January 
 
 174 
 
 156 
 
 February 
 
 176 
 
 158 
 
 Mardi 
 
 »75 
 
 160 
 
 Aprii 
 
 
 166 
 
 May 
 
 
 172 
 
 June 
 
 170 
 
 173 
 
 July 
 
 169 
 
 171 
 
 Auguft 
 
 
 178 
 
 September 
 
 167 
 
 172 
 
 Oaober 
 
 170 
 
 ^73 
 
 November 
 
 1-69 
 
 172 
 
 December 
 
 168 
 
 171 
 
 80 
 
 1788. January 174 156 84 
 
 83 
 
 83 
 
 70 
 
 89 
 
 69 
 
 87 
 
 70 
 
 90 
 
 7t 
 
 — 
 
 7a 
 
 91 
 
 73 
 
 92 
 
 74 
 
 96 
 
 76 
 
 98 
 
 78 
 
 95 
 
 74 
 
 92 
 
 73 
 
 93 
 
 70 
 
 95 
 
 74 
 
 96 
 
 76 
 
 92 
 
 77 
 
 93 
 
 73 
 
 94 
 
 70 
 
 91 
 
 7z 
 
 88 
 
 69 
 
 95 
 
 70 
 
 96 
 
 7x 
 
 95 
 
 75 
 
 97 
 
 76 
 
 — 
 
 75 
 
 96 
 
 
 94 
 
 "^ 
 
 — 
 
 76 
 
 96 
 
 74 
 
 94 
 
 — 
 
 93 
 
 73 
 
 The
 
 APPENDIX. ^7 
 
 • The Reader will pleafe to obferve, that the Dividend on India Stock 
 at prefent is at the rate of 8, on Bank Stock at the rate of 7, and on 
 South Sea Stock at the rate of 3 4. per Cent. The accounts that will be 
 given of thefe difTerent Companies will explain what was the amount of 
 former Dividends. 
 
 The above Abftfadt may be of fome ufe to fuch perfons as may be 
 defirous of making Calculations refpedting the real or comparative value 
 of the different Funds. But it would be well worthy the attention of 
 Government, in a country like this, whole profperity and power de- 
 pend fo much upon the wifdom with which it raifes the Supplies for 
 public purpofes, to have a complete and regular Account drawn up 
 and publifhed, of the prices of every fpecies of Funded Property, as 
 far back as they can now be traced. It would furnifh the means of af- 
 certaining in future times, which is the moft eligible mode of borrowing 
 Money, whether perpetual or temporary Annuities — whether Annuities 
 for one, or for more Lives — whether borrowing from Companies and 
 Bodies Corporate, or from unconne<fled Individuals — and whether a 
 great Capital with a lov/er Intereft, or a low Capital with a higher In- 
 tereft, ought to be preferred. Nor is this a trifling objedl: ; for even a 
 fmall faving upon fo enormous a Debt as j^. 250,000,000 is not be- 
 neath the attention of the wealthieft and moft powerful Nation. 
 
 From an attentive examination of the preceding Tables, the follow- 
 ing Obfervations may be deduced : 
 
 I. That as the 3 per Cents bore on the 18th of December, 1752, the 
 highcft price known in this country (namely 1064 per Cent.); that 
 the Credit of Great Britain was confequently then at its greateft height : 
 and at its loweft on the 27th of February, 1782, when the fame Stock 
 bore little more than one half of that price (namely 53 4). An amazingly, 
 rapid decline in the value of the fame property, in the fhort fpace of 
 about thirty years ; and tends to prove how much the Public Creditors arc 
 interefted in promoting wife and judicious Plans for redeeming the Na- 
 tional Debt ; fince in the fame proportion their property thirty years 
 hence, if in 3 per Cent. Stock, w^ould fell at little more than 26 per 
 
 K 2 Cent.
 
 68 A P P E N D- I r. 
 
 Cent; whereas were the Public Burdens put in a fair way of beuig gra- 
 dually diminilhed and paid off, they might yet rife, in the very fame 
 fpace of time, to 1 06 per Cent, again. 
 
 2. The higheft Price which the Stocks have borne fince the year 
 1 730, has been as follows : 
 
 India Stock, - 6th of September, 1768, 276 1- 
 
 Bank Stock - 5th of September, 1769, 1685- 
 
 South Sea Stock, 20th of May, 1768, iii 
 
 Bank 4 per Cents, 1 6th of March, 1768, 1055- 
 
 Three per Cents, 1 8th of December, 1752, 106} 
 
 The loweft Prices wer-e alfo as follow ; 
 
 India Stock, - 1 4th of January, 1784, iiSf 
 
 Bank Stock, - i ft of February, 1781, 106 |- 
 
 South Sea Stock, 2 2d of February, 1782, 624 
 
 Bank 4 per Cents, 8th of March, 1782, 68 r 
 
 Three per Cents, 27 th of February, 1782, ^7,1- 
 
 And the following feems to have been the grcateft fidl in the Price of 
 any Stock during that period : 
 
 India Stock, jolh of May, 1772, was fold for - 226 
 On 2ift of January, 1774, fetched only 137 
 
 , « jt 
 
 Total difference in eighteen months 88 |- 
 
 It is farther evident, from comparing the Prices of the different Stocks 
 m the years 1768 and i 769, with the years immediately preceding, that 
 Property in the Funds then reached its higheft Pi-ice, or, at leaft, 
 its fteadieft Level ; and hence that it rccpilres feven or eight years of 
 profound Peace, before the Public Credit of the Country naturally ar- 
 rives at the greateft pitch of which it is capable. ■ 
 
 N. B. The Reader, who may wifn to knosv the real Qiiantum of Intercftthat is Jrawn ae- 
 cordJns: to the Prices of the differccX Stocks, Tiiay conlult the Table of Eqiuitiot? in .\]orcinier's- 
 Every IVLin his own Broker, and the comparative view of the Funds, fiibjoihcJ to Blewot's 
 Tables tor calculating tl>e value cf Stocks and Annuities. It is fijfficient at prefent to remark^ 
 that the fame Interell, to wit, £^ per Centum per Aiiiuim is received, if /,"6o, in JNIoaey, is 
 paid for One Hundred Pounds of 3 per Cent Stock j or^Sb, in Money, for/."rco 4 per Cents ;• 
 or^iuo, iri ?vlaney, for^i<5a 5 per CcNts; or £120, iu Money, for ^^'loo 6 per Ceuts; oi; 
 ^140^ m Moiiey, for j^ioo ; pe: Cents; or ^'i6o, in Money, for /"too S per Cents. 
 
 APPENDIX.
 
 [ 69 ] 
 
 A P P E N D I X. 
 
 No. IV, 
 
 An Antidote to Tiefpondency ; or, ProgreJJi've Afferttons from reJpeSlabk 
 Authority^ tending to prove that the Nation was actually undone^ prior to 
 the Revolution in 1 688 ; and that it has remained in a continued State ^ 
 Ruiny or Decay, ever Jtnce that memorable Era. 
 
 IT has often been remarked, that the Englifh are more Inclined than, 
 any other Nation to view the dark fide of the profped ; to fear 
 every thing, and to hope for nothing. In the month of November in 
 particular the State fuifers exceedingly ; and whoever fcrioufly fits 
 down to confider, in that gloomy feafon of the year, the fituation of 
 the country, concludes, after mature refledlion, that the Country is tmdone j 
 or that matters are fo bad, that the bufinefs of Government cannot 
 poffibly be carried through another Seffion*. 
 
 K^ any ideas of that nature, are, in a particular manner, contrarv to 
 the interefts of a State that depends upon Credit for fupplying the means, 
 of defending itfelf, or of annoying its enemies, it is thought that a 
 greater benefit cannot be conferred upon the Public, than by proving^ 
 how groundlefs fuch opinions are, in the firft place, from the infinite 
 .refources of which the Nation is adually poffeiTeJ, and which it is- 
 hoped are not eafily to be exhaufted t : and fecondly, from its appearing 
 to be an indifputable faft, that fimilar d'elponding apprehenfions hafe 
 been publicly avowed by peifons of refpeclable authority for above <^ 
 
 * See the World, No. 99, 21ft of Nor ember, 1754. 
 
 \ This branch of the fubjeft will be fully confidered ia the third part* 
 
 eemury
 
 70 
 
 APPENDIX. 
 
 century pad (during which period it is well known that the Nation has 
 enjoyed no inconfiderable degree of happinefs and prolperlty), whilfl: 
 the Country is acknowledged to be at this time at leail as ftrong, and 
 unqueftionably more opulent, than in any former period of its 
 Hiftory. 
 
 It is, therefore, propofed to lay before the Reader fome Extrads 
 from Works of Authority in Political Matters, containing progreffiveaf- 
 fertions of the miferable State of the Nation for above a century paft, 
 though the event has proved that it has continued to profper, notwith- 
 Handing the melancholy fears and apprehenfions of many able and in- 
 telligent individuals, who have prognofticated the reverfe. 
 
 Anno I. " It may be undeniably and uncomfortably obferved, that whilft every 
 
 l68o« one hath eagerly purfued his private intereft, a kind of Common Confumptionhath 
 
 crowded upon us ; fince our Land Rents are generally much faUen, and our 
 Home Commodities funk from their late price and value ; our Poor are vaftly 
 increafed, and the reft of the People generally more and more feel the Want of 
 Money. This difeafe, having grown upon us in times of Peace, when no Fo- 
 ' reigners have exhaufted us by warlike depredations, may very juftly amaze us ; 
 
 and the more, when at the fame time we obferve that fome of our neighbouring 
 Nations, lately our equals, or much our inferiours (I mean the French and 
 Dutch), are become fo prodigioufly lich and powerfull on a fudden. Cer- 
 tainly thefe mighty produftions muft have fome great and vigorous caufes, 
 which have been very furioufly working of late years, and fuch as have 
 not fallen under common obfervation." — Britannia Langucns ; or., a Difcourjc 
 of Trade. Printed An, 1 68©. Introdudion, p. i. 
 
 1689. " I fear the Author doth too truly tell us, that the Trades of Tillage, Grazing, 
 Dairy, Clothing, Fulling, &c. that formerly enriched the occupiers of them, 
 have in thefe latter years been the ufual fliipwrecks of Men's Stocks and 
 • Eftates ; that we have in a manner loft the Eaft-land and the Northern Trades j 
 
 that the cheapnefs of Intereft doth not proceed from the Plenty of Money, but 
 the Scarcenefs of Security ; and that no new improving Manufacture is to be 
 heard of in England, but that of Perriwigs." — A Difcoiirje of the Growth of 
 England^ &c. by Way of Letter to a Perfon of Honour. Printed An. 1689. 
 P. 184. 
 
 1694. II. " I think it paft difpute, that there is not one man of an hundred who would 
 in any manner have contributed to this Revolution (Anno 1688), )f they could 
 have forefeen that thereby we fhould have been engaged in fo durable, eX- 
 penfive, and deftrudive a War, in defence of the Dutch and other confede- 
 rates ; not only to the eternal fcandal of our Loyalty, Religion, Honefty, 
 Juftice, Honour, and Morality, but to the wafte and confumption of our Stores 
 of Arms and Ammunition, the lofs of our Ships and Men, the inundation of 
 Foreign Force, to the very inflaving the Nation to their Intereft, Councils, 
 
 and
 
 APPENDIX. 7^ 
 
 and Condu6l, and the utter beggaring of aurfelves, by the Decay of Traffck, and 
 unfupportable Taxes." — England muji pay the Piper. By Sir R. W. Printed 
 Anno 1694. 
 
 1699. " Unlefs this can be compaffed (namely, reducing the Revenue of the Crown to 
 the Aim of £. 2,300,000 per annum), it will be found that, in no }ong courfe 
 of time, we fhall languifh and decay every year, by fteps eafy enough to be per- 
 ceived by fuch as confider of thefe matters. Our Gold and Silver will be car- 
 ried off hy degrees. Rents will fall, the Purchafe of Land will decreafc, Wool 
 will fink in its price, our Stock of Shipping will be diminifhed, Farm-houfes 
 will go to ruin, Induflry will decay, and zue /hall have upon us all the Viftble 
 Marks of a declining People." — An EJfay upon the Probable Methods of making a 
 People Gainers in the Balance of Trade. By Dr. D'Avenant. Originally 
 printed Anno 1699. 
 
 fJlOt IV. " Are we not almoji driven to the very Brink of DeJlruEiion? Our Treafures are 
 riotoufly wafted, our Conftitution in danger of being fubverted, and the Nation 
 almoft in general corrupted ! Yet is it not a flrange and wonderful thing, that 
 while the Nation is almoft Bankrupt, wealthy men (hould (hoot up in feveral 
 offices like mufhrooms ; and while the Government was endangered to be beg- 
 gared, that aJl its Servants fliould riot in fuch wealth and plenty, that the bare 
 handling of a brufli in any office was the ready way to a plentiful fortune, as 
 if the Public Treafure had been thrown in there only for the Officers to brufli it 
 into their own pockets ?" — A Letter touching the Rife of all the Embezzlements and 
 Mifmanagements of the Kingdom's Treafure^ from the Revolution to the prefent Par- 
 liament. Printed Anno 17 10. 
 
 1720, V. " It is evident from the immediately preceding flate, that near one moiety of 
 the Duties therein mentioned arifeth from rhe,Cuftoms ; and it is too well knoivn, 
 anda fad truth it is, that the Balance of Trade has been for fame time pafi confiderably 
 againji us. That our Silver Coin is grown very fcarce ; and that it is impof- 
 fible our Gold can ftay at home, till an advantageous turn is given to our 
 Trade. And under thefe unhappy circumftances, and that of our Public Debts, 
 the Nation, I think, can never be juftified to run into any new expence for a 
 reafon of lefs importance than that of an immediate prefervation of the Reli- 
 gion and Liberties thereof. — A Colleilion afTreatifes. By Archibald Hutchefon, 
 Efq. Printed Aimo 1721. 
 
 1722. VI. " Can it be proved that a Free People can tafte the high enjoyments that 
 flow from Property and Liberty, when loaded with numerous Duties, and im- 
 merfed in Debts of fuch a magnitude, that the difcharging thereof is almoft 
 imprailicable with the fafety of the Nation ? And that our Credit and Reputa- 
 tion is growing and increafmg, notwithftanding we are likely to be driven to the 
 unavoidable choice of two melancholy extremes, viz. The blotting out of our 
 bc>' 'k:, and an effacing, as irretrievable, an infinite number of Creditors, who 
 have lawful andjuft claims upon us ; or, the paying off Debts by the virtue of 
 Wild Schemes, and by that means to fink under a final Bankruptcy. Ought not 
 fuch a People to reflect with horror and anguifli of heart at any who either by 
 Mifmanagement or Villainy have reduced them to fo terrible an Ebb." — The Na- 
 ture and Weight of the National Taxes. By T. Gordon, Efq. In theColleiStion 
 of Trenchard and Gordon's Trails, printed Anno 1751. Vol. I. p. 366. 
 
 J727. VII. " Is there not already a Land-Tax upon our Eftates as large as can be rea- 
 sonably defired in time of Peace \ Are not ail our Ordinary Expences hur- 
 6 thenod
 
 ^t APPENDIX. 
 
 thened with Duties ; or, is t'ncre any confideraWe Branch of Commerce which 
 does not pay its Cuftom ? Is there fcarce any thing that we eat, drink, wear, 
 or in any manner ufe, which does not contribute to tiie KecefTities of the Go- 
 vernment ? Are not many things doubly, trebly, and even quadruply laden? 
 Is not this generally lamented by all People ? What, therefore, fhalt we fay to 
 a Man who lays Plans for future Minifters to opprefs his fellow-fubjefls with 
 
 iuch grievous Burthens, as neither we nor our children Jhall he able to bear /" 
 
 Remarks on a late Book, entitled. An Ejfay on the Public Debts of this Kingdom. 
 Printed An. 1727. 
 
 1736. Vlll. " The vaft load of Debt under which the NatioirfniT groans, is the true 
 
 fot/rce of all thofe Calamities and gloomy ProfpeSts of ivhick ice have fo much realon to 
 complain. To this has been owing that multiplicity of burthenfome Taxes, 
 which have more than doubled the Price of the Common Necciraries of Life 
 within a few years part ; and thereby diftrellcd the poor Labourer ?.nJ Manu- 
 facturer; difabled the Farmer to pay his Rent; and put even Gentlemen of 
 plentiful Eftatcs under the greatelt dilKcultics to make a tolerable provilion for 
 their families. From this have proceeded thofe infinite iwarms of Locufts and 
 Caterpillars in office, who not only prey on the vitals of Induftry, but render 
 even our Liberties precarious, and dependent on the will of thofe, who have the 
 fole nomination and diredfion of them. And to this we muft likewife afcribe 
 that ruinous fpirit of Luxury, Corruption, and Venality, which hath infected 
 the whole Nation, and almoit: effaced the very marks of Frugality and P'^';!ic 
 Virtue amongll: us." — The Craftfi/ian, No. 502, 14th of February, 1736. 
 
 1737. IX. " For my part I do not know any one Neceffary of Life upon, which we have not 
 
 fome Tax or another, except Water ; and we can put no ingredient I know of 
 into Water, in order to make it palatable and cheerful, without paying a Tax. 
 We pay a Tax for Air, and for the Light and Heat of the Sun in the Day- 
 time, by means of our Tax upon Windows ; and for Light and Heat in the 
 Night-time, by means of our Duties upon Coals and Candles; we pay a Tax 
 upon Bread, Meat, Roots and Herbs of all kinds, by means of our Salt Duty ; 
 we pay a Tax upon Small-Beer, by means of the Malt Tax ; and a heavy addi- 
 tional Tax upon Strong-Beer, by way of Excife. Nay, we cannot have any 
 ckan thing to put upon our backs, either of woollen or linen, without paying 
 
 a Tax, by means of the Duty on Soap, &c." See Torhuck's Debates. 
 
 Vol. XV. p. 209. 
 
 1739. X. " What are then the circumftances of this Kingdom and of France? — On 
 one fide mortgaged Revenues, Credit funk at Home and Abroad, an exhaufted, 
 difpirited, difcontented People. On the other, a rich and popular Government, 
 ftrong in alliances, in reputation, in the confidence and affeiSion of its fubjedls. 
 — Our well-equipt Fleets and well-drefl Troops give, to be fure, an air of 
 magnificence ; but then it is well known that we owe almoji Fifty Millions, and 
 have been forced to apply the Sinking Fund, not to difcharge that Debt, but te 
 furnijh out thefe Shows ; whilfl: in moft parts of England Gentlemen's Rents are 
 fo ill paid, and the v/eight of Taxes lies fo heavy upon them, that thofe who 
 have nothing from the Court can fcarce fupport their families." — Confulerations 
 vpon the Prejent State of our Affairs at Home and Abroad. In a Letter from » 
 Member of Parlkiment to a Friend in the Country. By George Lord Lyttelton. 
 See his Works, Edition 1774, Vol. I. p. 64 and 65. 
 
 1745. XI. " I flwll concluds with afking this queftion — Whether we think ourfelves able, 
 under a great load of annual Taxes,- increaftng Debts, mortgaged and antici- 
 pated
 
 APPENDIX. 73 
 
 pated Funds, a vifible decay of both Trade and Money, to continue for any 
 Foreign Intereft whatfoever, either the Bullies or Paymafters of all the other 
 Powers in Europe ? And whether it would not better demonftrate our Wifdoai 
 and Economy, and that Love we profefs to our Country and Pofterity, if we 
 confined our quarrels more to that element on which our infular fituation gives 
 us an advantage, and to that meafure of expence which Juits our prefent declin- 
 ing circumjlances, — A Survey of the National Debts, Infcribed to Sir John 
 Phillips. Printed Anno 1745. 
 
 1749. XII. " Our Parliamentary Aids from the year 1740, exclufively, to the yeat 
 1748, inclufively, amount to £. 55,522,159 lbs. 3^. a fum that will appear 
 
 incredible to future generations, and is fo almoft to the prefent. 'Till we have 
 
 paid a good part of our Debt, and reftored our Country in Ibme meafure to her 
 former Wealth and Power, it will be difficult to maintain the Dignity of Great 
 Britain, to make her refpecSed Abroad, and fecure from injuries, or even 
 affronts, on the part of her Neighbours." — Some Refle£iions on the Prefent State 
 of the Nation. By Henry St. John, Lord Vifcount Bolingbroke. Edition 
 J773. Vol. IV. p. 137 and 147. 
 
 3756. XIII. " It has been a general received notion, among Political Arithmeticians, 
 that we may increafe our National Debt to One Hurtdred Millions ; but they ac- 
 knowledge that it muft then ceafe, by the Debtor becoming Bankrupt.-^But 
 it is very difficult to comprehend, if we do not ftop at Seventy-five Millions, 
 where we fhall ftop. — A Journal of Eight Day's Journey, &c. in Letters. By 
 Samuel Hannay, Efq. Printed An. 1756, in one Volume Quarto, p. 318. 
 
 ■ 3757. XIV. The great Bane of our Trade is the High Price of our Commodities. And 
 muft not the augmentation of our Debts and Taxes ftill enhance their Price ? 
 And muft not this at length prove the Ruin of our whole Commerce ? In order to 
 eafe our Trade, and to prevent its total Deftrudtion, muft we not at any rate get 
 rid of our Debts and Taxes ? Sincethe more we run in Debt, the lefs able {hall 
 we be to pay them, can we get rid of them without the abfolute Ruin of all the 
 Public Creditors ? And what a fcene of confufion and horror muft this produce 
 in the Kingdom?" — Great Britain's True Syjiem. By Malachy Poftlethwayt, 
 Efq. P. 48. 
 
 .'J761. XV. " The firft inftance of a Debt contrafted upon Parliamentary Security oc- 
 curs in the Reign of Henry the Sixth. — The commencement of this pernicious 
 practice deferves to be noted ; a pradtice the more likely to become pernicious 
 the more a Nation advances in Opulence and Credit. The ruinous eiFedls of 
 
 it are now become apparent, and threaten the very Exifience of the Nation." 
 
 Hume's Hiftory of England. O(2;avo Edition of 1778, Vol. III. p. 215.— But 
 originally printed Anno 1761. 
 
 I'jb^. XVI. " Thus much is indifputably certain, that the prefent magnitude of our 
 National Incumbrances very far exceeds all Calculations of Commercial Bene- 
 fit, and is productive of the greateft inconveniencies, by the enormous Taxes 
 that are raifed upon the Neceilaries of Life, for the Payment of the Intereft of 
 this Debt, &c. &c. — And laftly, they weaken the internal Strength of a State, 
 by anticipating thofe refources which (hould be referved to defend it in cafe *f 
 T\&ct&Vj."-~BlaikJlone's Commentaries. Vol. I. p. 328. Edition 1775. 
 
 -X 1774, XVII.
 
 74 APPENDIX. 
 
 J7J'4, XVn. " I am grieved to obferve,that we have many TaxeiS more hurtful to Indi- 
 viduals, than advantageous to the Public Revenue. Multiplied Taxes on the 
 Nece/Taries of Life, Candles, Soap, Leather, Ale, Salt, iic, raife the Price of 
 Labour, and confequently of ManufaiSures. If they (hall have the efFcct to 
 deprive us of Foreign Markets, wb'uhvji hav* reajonto drefld. Depopulation and 
 Poverty mu{l enfue." — Kaims'i Sketches of the Hijhry of Man. Firft Edition, 
 Vol. L p. 484. 
 
 1776. XVin. " I fuppofe there is no mathematical, flill lefs an arithmetical demonflra- 
 tion, that the road to the Holy Land was not the road to Paradife, as there is, 
 that the endlefs increufc of National Debts is the dire£l: road to National Ruin. 
 But having now completely reached that goal, it is necdlefe at prefent to refleiSl on the 
 paft:. It will be found in the prefent year 1776, that all the Revenues of this 
 Ifland, North of Trent, and Well of Reading, are mortgaged or anticipated for 
 ever. Could the fmall remainder be in a worfe condition were thofe Provinces 
 feized by Auftria and Pruffia ? There is only this difference, that fome event might 
 happen in Europe which would oblige thefe great IMoiiarchs to difgorge their 
 acquifitions. But no imagination can figure a fituation which will induce our 
 Creditors to relinquifh their Claims, or the Public to feize their Revenues. 
 So egregious indeed has been qur folly, that we have even loft all title to com- 
 panion in the numberlefs calamities that are waiting us." — Hume's Hijlory of 
 England. Vol. V. p. 475. Note 13. 
 
 J776, XIX. " Great Britain feems tofupport with eafe a Burden, which half a century 
 ago nobody believed her capable of fupporting. Let us not, however, upon 
 this account rafhly conclude, that flie is capable of fupporting any Burden j 
 nor even be too confident that fiie could fupport, without great diftrefs, a Bui- 
 Azn a little greater than what has been laid upon her." — An Enquiry into the Na- 
 ture and Caufe of the fFealth of Nations. By Adam Smith, &c. Vol. II. 
 
 P- 363- 
 
 '1777. XX. " We are now involved in another War, and the Public Debts are in- 
 creafing again f:\ft; the prefent year (1777) muft make another great addition 
 to them ; and what they will beat the end of thefe troubles, no one can tell. — 
 The union of a Foreisn War to the prefent Civil War might perhaps raife them 
 
 to Two Hundred M.iUions,\>\xt more probably it would fink them to Nothing. 
 
 jidditional Obfervations on the Nature and Value of Civil Liberty, Sic, By Ri- 
 chard Price, D. D. Third Edition. P. 148. 
 
 J783. ^XI. " If the premifes are juft, or nearly juft, and nothing effeflual is done to 
 prevent their confequences, the infallible, inevitable conclufion that follows, is, 
 That the State is a Bankrupt, and that thofe who have.trufted their All to the 
 Public f'aith, are in very imminent danger of becoming (I die pronouncing it) 
 Beggars. An Argument to prove that it is the Indifpenjable Duty of the Creditors if 
 the Public to irf.fi that Government do forthivith bring forward the Co> fide ration, if 
 the State of the Nation. By John Earl of Stair. Printed An: 1783.
 
 APPENDIX. 75 
 
 IT would not be difficult to make confiderable additions to the above 
 Extrads, were it neceflary to adduce any farther proof, that even the 
 ableft men may entertain ill-founded and groundlefs apprehenfions re- 
 fpeding the Political Strength and Financial Refources of the Nation. 
 The fentiments of the Author, upon thefe points, have ever been very 
 different. Even as early as the year 1783, in the midft of much terror 
 and defpondency, he hefitated not to affert, " That our diftreffes were 
 " too deeply coloured, that our financial refources were not totally de- 
 *' ftroyed, and that Britain might Hill retain its elevated ratik among the 
 ** Potentates of Europe *." However vifionary fuch ideas were confi- 
 deredat the time, they have fince been amply verified: A eircumftance 
 which muft prove the fource of pride and exultation to every citizen in 
 this Country, but more particularly to the Perfon who firft had the 
 honour of announcing it to the Public. 
 
 • Hints on the State of oiu- Finances. By John Sinclair, Efq. p. lO. Printed for 
 T. Cadcil, An. 1783. 
 
 L 2 APPEN.DI3L
 
 APPENDIX. 
 
 No. V. 
 
 StME of the PUBLIC INCOME and EXPENDITURE during the 
 
 Reign of KING WILLIAM, 
 
 THE following paper is of fo important a nature, that it cannot 
 be too generally known. To find in fo fmall a compafs an exadt 
 account of the income and expenditure of a great nation, for the fpace 
 of about fourteen years, cannot fail to gratify the curiofity of fuch as 
 have any relifh for political inveftigations. Similar ftatements, of the 
 receipts and ifllies of every other reign fmce the death of King William 
 would, on many accounts, be not a little defirable. Thence it would 
 appear, that the prefent national debt is much lefs formidable, than at 
 firft fight might be apprehended ; when it is compared with the enor- 
 mous fums levied on, and expended by, this country fince the Revolution. 
 It might alfo tend to check the unbounded profufion of Kings and 
 Minifters (at leaft of fuch as have any regard for charadler, or future 
 fame), if they were to find that the whole expences during their 
 adminiftration can be ftated within fuch narrow bounds, that any 
 one can eftimate the burdens and the benefits of their government, and 
 can fee, which of them, upon a fair comparifon, is intitledto a preference. 
 Above all, the notoriety of, and acceffibility to, every poffible information, 
 regarding the public accounts and political circumflances of the nation, 
 ought to be facilitated ; in the firft place, as a check to extravagance 
 and profufion, which cannot be too carefully guarded againft ; and in 
 I the
 
 [ 78 ] 
 
 the fecond place, as an eacouragement to any private individual (who 
 has a turn for political enquiries) to favour the public with any new 
 lights, or any ufeful obfervation that may occur to him, but which, 
 without a knowledge of the real ftate of fads, he can hardly hazard with 
 any degree of confidence.-— The following abftrafl: is therefore printed 
 in the full expedtation that a period will foon arrive, when not only 
 fimilar ftatcments Ihall be publifhed from authority, of the national 
 income and expenditure, during the reigns of the other Sovereigns who 
 have fat upon the throne of Great Britain, fince the death of King 
 "VVilliam ; but alfo when every means fliall be adopted, of giving the 
 public at large the fuUeft and moft authentic information, refpeding the 
 paft and prefent political fituation of the country, in every matter of 
 any real importance, whether foreign or domeftic. 
 
 A dneral AhJlraEi of the Receipts and IJites of the Public Revenue, Taxes and Loans, dur. 
 ' ing the Reign of King William, from the $th of November., 1688, to the 25/Zi of March^ 
 1702. 
 
 RECEIPTS. 
 
 I. CUSTOMS. 
 
 I. 5. D. 
 
 Cuftoms, befiJes Drawbacks, Damnges, Salaries, &c. ■ — 4,285,697 1 6 
 
 Dluo fiom Chriftmas 1699 to the ift Aug. 1706 934)92.3 8 of 
 
 Impofuions on Linen, Silk, &c. that ended ill July 1690 — ^ 143,880 9 6\ 
 
 Ditto on Tobacco and Sugar ■ ' 1,374,232 17 t\ 
 
 Ditto on Wines and Vinegar ■ 1,750,388 15 7 
 
 Ditto on Eaft India Goods, &c. from Chriftmas 1690 — 1,801,906 2 9I 
 Additional Impofitions on Merchandizes, &c. commenced ift March 
 
 169} to the ift March 1696 ; thence to the ift Auguft 1706 501,120 2 o| 
 New duty on Coffee, Tea, ^c. and ditto continued for paying Intereft 
 
 of Irifh Tranfports 105.203 11 3I. 
 
 Additional duty on Brandy from ift March 169]^ ■ 22,691 7 o\ 
 
 Tunnnge Duty from ift June 1694, and ending 17th May 1696 — J?5v3.35 ^^ ^ 
 
 Dutv on Coals (taken off 1 7rh May 1696) 22,004. '9 3 
 
 Duty on Gtafs and Earthen- \'\'aie, as rclatiDg to the Coal Acl 7j7SO o o 
 
 Twenty iive per Cent, on French Goods 161,349 9 2 
 
 New Duty On Coals for 5 year?, from i5!h May 1693 465,1557 6 1 
 
 Cuftoms ( arricd forvvavd ^i)75"2i34i b b\ 
 
 Five
 
 APPENDIX. ^^ 
 
 Cufloms brought forward 
 
 Five Shilliags per Tun, French Ships, granted 12 Car. II. - 
 
 Twenty-two pence per pound Eaft India Silks — 
 
 Plantation Dutj' granted 25 Car. II. 
 
 Arrea/s of additional Impofitions on Wine entered 1^89 
 
 New fubfidy of Tunnage and Poundage for 2-| years 
 
 Additional Tunnage and Poundage from January 1699 for his Maiefty's 
 Life : 
 
 I- 
 
 S. . 
 
 D. 
 
 11.752,341 
 
 b 
 
 6r 
 
 1,9 8 
 
 7 
 
 2 
 
 19,140 
 
 5 
 
 5 
 
 4,708 
 
 16 
 
 2 
 
 1,900 
 
 
 
 
 
 764,297 
 
 8 
 
 9I 
 
 634,548 
 
 IC 
 
 7i 
 
 1,221 
 
 
 
 3i 
 
 Gliders, 5d. per Chaldron ■ 
 
 Fifteen per cent, on India wrought Silks and Muflins, granted nth 
 
 and 12th W. . 116,767 18 6 
 
 £. 13,296,833 14 6 
 
 II. EXCISE. 
 
 Hereditary and Temporary Excife neat ■ ■ 
 
 Low Wines from 24th December 1.690 — — — — 
 
 Double Excife from 1.7th November 1690 to ditto 1691 — 
 
 Additional Excife of gd. per Barrel from Michaelmas 1698 appropriated 
 Additional Excife, viz. gd. per Barrel, determined 24th July 1692, 
 
 and double .gd. commenced 17th Nov. 1691, ended 17th Alay 
 Complements of Excife, 24d. per Barrel, to 24th July 1692, and 3od. 
 
 per Barrel thence to the 17th Nov. 1692 
 
 Excife for 99 years in the Million Fund A^, from 25th Jan. 169I- 
 Importson Salt from 2.5th March 1694, I2d. per Biiflicl granted 7VV. 
 
 joined with Whale Fins, Scotch Linens, 6cc. granted 9th and loth 
 
 William, for 8 years, from loth July 1698 
 
 ^Jine-pcnce Excife continued from 17th May 1697, for Millipn 
 
 Lottery Tickets, thence for 16 years 
 
 Nine-pence Excife made hereditary, from 7th May 1697 for the Bank 
 
 and Annuities for i, .2,. and 3 lives in lieu of | and i Tunnage 
 
 Duty on Malt from 5cth April 1697 
 
 Additional Duty on Salt of 8d. from 25th March 1697 to the^5th of 
 
 October 1-699 
 
 Twenty pence per Bufliel Salt from ift July 1698 for the Eaft 
 
 India Company, and 8d from 25 Oftober 1699 
 
 Duty on Leather — — 
 
 Whale Fins, Scotch Linen and arrears of Glafs. ware,.&c 
 
 Low Wines, joined with Coffee and 15 per cent. Mufilns by an atft 
 
 12th and J3ih William — — 12,ci2 13 2 
 
 5>9i8,887 
 166,392 
 
 17 
 17 
 
 4l 
 6 
 
 612,291 
 
 3 
 
 3^- 
 
 339,610 
 
 15 
 
 9t 
 
 1,732,497 
 
 J5 
 
 
 
 381,080 
 
 <c 
 
 91 
 
 1,229,727 
 
 17 
 
 5i 
 
 436,724 
 
 3 
 
 ^1 
 
 644,396 
 
 14 
 
 6 
 
 618,532 
 
 922,983 
 
 5 
 
 10 
 
 3: 
 
 103,191 
 
 16 
 
 3^ 
 
 276,474 
 
 2q8, 102 
 
 12 
 16 
 
 6 
 9 
 
 46,420 
 
 15 
 
 10 
 
 £ 13,649,328 o 5i- 
 
 III. HEARTH MONEY. 
 
 Hearth money Jjefides charges of getting in — — ST"" • 221,763 i8 oi 
 IV. LETTER MONEY. 
 
 Letter money, befides charge of management • 871,054 17 rij 
 
 Saiall branches. and Cafualties — 9'5,77^ " 8' 
 
 J. 
 
 £ 2,008,597 7 81 
 V. LAND
 
 2o APPENDIX. 
 
 V. LAND TAXES. 
 
 £■ S. D. 
 
 Prefent aid or fix months tax for 1689 — 400.914 7 3t 
 
 Firfl; aid for 1 2d in the pound for 1689 496,108 6 i 
 
 Second aid for 1690 1,015,732 2 7 
 
 Additional i2d for i6go 507,866 o Sf 
 
 Firfl: 12 months for 1 69 1 1,613,747 9 I 
 
 Second ditto for 1692 • 1,613,847 13 5 
 
 Firft 4said for 1693 1,922,71219 4i 
 
 Second ditto for 1694 1,913,488 16 4^ 
 
 Third ditto for 1695 1,860,01910 2 
 
 Fourth ditto for 1696 ■ 1,73^,248 1 lOi 
 
 Three (hillings aid for 1697 1,244,789 4 O 
 
 Additional 1 2d for 1697 418,6461011 
 
 Second 3s aid for /.i ,484,015 is. lid. | over and above /.229, 696 
 
 4;. icd. transferred to pay annuities to the bank, &c. for 1698 I,i88,02i 18 i 
 
 Third 3s aid for the fame fum i543'>77i ^ ^i 
 
 Second 2s aid for /. 989, 965 195. 6rf. for 1700 951,066 6 5 
 
 ^ and f of the 4th 3s aid 859,051 15 2i 
 
 £ 19,174,059 8 3i 
 
 VI. POLLS 
 
 Flrft poll for i68g 288,438 2 li 
 
 Review of the firft poll and an additional poll for 1690 23,059 7 i 
 
 Second poll 1690 239,953 7 "i" 
 
 Firft quarterly poll for 1692 - — — 579, '7^ " 'J 
 
 Review of ditto for 1693 . 6,383 4 o 
 
 Second quarterly 1694 486,321 2 2^ 
 
 Capitation for 1697 612,912 16 9 
 
 Third quarterly poll for 1698 321,397 i^ 3^- 
 
 £ 2,557.649 7 71 
 
 VII. PROMISCUOUS TAXES. 
 
 Smugglers fines to Michaelmas 1698 19,500 ^ 
 
 Exchequer Bills iflued by virtue of an a<5t for eftablifhing a land bank 
 
 on 1695 (^.158589) being repaid as per contra '59>i73 ^ ^ 
 
 Joint ftock charged by »Q. of Parliament 1692, two quarterly 
 
 payments 43,219 ° ° 
 
 Firft Million a£t in 1693, annuities by 9d. Excife for 99 years 1,000,000 o o 
 
 Fines and rent on Hackney Coaches for 1694 41,150 O O 
 
 Paper and parchment duties for 1694, continued to 28th June 1698 205,566 I 2 
 
 New duties on ditto, for 2 years from ift March 1698 • '7,813 ^ 9 
 
 Million Lottery or contributions on Salt for 1694 934, 5'2 17 7 
 
 On the Tunnage A£l by the Bank of England for ditto —' 1 ,200,000 o o 
 
 On annuities for 1694 for 1, 2, and 3 lives for^ 300,000 300,000 o o 
 
 7.2- 
 i 
 
 Promlfcuous Taxes carried forward ■ 3»9^>934 ^ yi 
 
 Promif-
 
 APPENDIX. 8a 
 
 ^ ■ £■ s. D. 
 
 Promifcuous Taxes brought forward i 3,920,934 8 7J 
 
 Duties on marriages, births, burials, &«, ccmmencing ift May, 1695, 
 
 and ending ifl: May, 1700 • . — 258,094 i loj- 
 
 Subfcriptions to the national land Bank 1,77? ° o 
 
 Duties on houfes or windows ■ 503,466 10 2~ 
 
 Money, or plate at 6d. an ounce, for malt lottery tickets • 17,615 13 i 
 
 Additional duty on ftampt paper made perpetual, with fait, for the 
 
 Eaft India Company •— Jf53,487 n 5^ 
 
 Subfcriptions of ^^2,000, coo for the Eaft India trade 1,882,413 9 o^ 
 
 Parchment and paper ftampt duties, continued from 1698, to the ift 
 
 Auguft, 1706 152,098 16 16 
 
 Purchafing reverfionary annuities by feveral a£ls of Parliament palTed 
 
 in feveral years 581,750 15 o 
 
 Duties onGlafs and Earthen Ware — '5,73^ i 7 
 
 Licences to Hawkers and Pedlars 26,513 15 i 
 
 Duties on marriages, births, Sec. continued from ift May, 1700, to ift 
 
 Auguft, 1706 17,423 16 2f- 
 
 7.S3i>3°5 '!^ I'j^ 
 
 VIII. DIVERS RECEIPTS. 
 
 Letter money overpaid in 1696 
 
 Surcharged on the Commiffioners of Excife in 1697 
 'Coinage money from 1698, included, in the other yearSj placed with 
 fmall branches ' . 
 
 102 t6 
 
 89,695 ic3 
 
 Si 
 
 42,658 10 
 
 1,715 
 
 162,036 4 
 
 
 
 2 1 
 
 184,656 17 
 50 
 
 
 
 480,915 2 
 
 2 
 
 Tellers malt benefits in 1698 ■ 
 
 Impreft money repaid in 1696 and 1698 — 
 Accounts of new money from the mint in the years 97, 98, and 99, in 
 aid of jAa, 599,707 14X. 1 od. per contra, that was deficient in Michael- 
 mas, 1696 
 
 Poll anno 1697 . 
 
 ABSTRACT of RECEIPTS. 
 
 1 Cuftoms . 13,296,833 14 6 
 
 If Excife . 13,649,328 o si 
 
 ill. Hearth money 1 • 1 j , .. o 
 
 IV. Letter money } 'ncluded together 2,008,597 7 8^ 
 
 V Land taxes 19,174,059 8 si 
 
 VI. Polls 2,557,649 7 yi 
 
 YII. Promifcuous taxes 7,531,305 18 1 1| 
 
 VIII. Divers receipts 480,915 2 2 
 
 Carried forward 58,698,688 19 8 
 
 M Brought
 
 Ji APPENDIX. 
 
 £■ s. l>. 
 
 Brought fonva id • 58,698,68819 8 
 
 Of thegencralamountof money borrowed and repaid within the time of 
 this account, infeveral years, the money borrowed exceeding the money 
 repaid in thofe years refpedlively the Turn of ^13,348,680 5^. \o\d. 
 though in the other years the money repaid exceeded the money 
 borrowed in thofe years refpecftively the fum of /"3, 341, 903 8r. 8|</. 
 as per contra, which reduced the neat money more than repaid during 
 the wiiole time of this account to /iOjOo6,77o 17/. i^d, — — 13,348,680 5 lOj 
 
 72,047,369 5 6i 
 There remained ontlie 5th November 1688, in the Exchequer, in the 
 
 hands of the feveral Receivers . 80,138 j8 0-J 
 
 ERROR in the preceding account 
 
 Total Receipts ^T. 72,127,508 3 6J 
 
 ISSUES. 
 
 I. NAVY. 
 
 To Anthony Lord Vifcount Falkland, late Treafurerof the Navy, for 
 
 the Navy and ViiElualling 198,068 1 
 
 To the Earl of Orford, late Treafurer of the Navy, on the fame 
 
 Account ■ 16,940,521 9 10^ 
 
 To the Right Honourable Sir Thomas Littleton, Treafurer of the 
 
 Navy, on the fame Account _— 2,683,551 14 7 
 
 19,822,141 4 6; 
 
 n. ARM Y. 
 
 'Mr. Harbord 1,073,28812 7^ 
 
 for .h. Service ot Ireland \f-^ f^'J^ Lord ^■^'° " '' 
 
 Coningfby 2,773,806 7 9^ 
 
 3,851,655 I o\ 
 
 To the Earl of Ranelagh, for the Forces under his Pay 18,164,951 14 o^ 
 
 To Colonel Hill, Governor of the Leeward Iflands, for his own Sol- 
 diers and Arrears 1,100 o o 
 
 22,017,706 15 c| 
 
 lir. ORDNANCE. 
 To the Treafurer of the Ordnance, for Sea and Land Service 3 5008,535 16 10-J^ 
 
 IV. C I V I L L I S T. 
 
 To the Cofferer of the Houfehold -— 1,300,130 2 2| 
 
 To the Treafurer of the Chambers 484,76316 i~ 
 
 Ditto forihe Charges of the late Queen's Coffin, &c. 328 16 o 
 
 Carried forward 1,785,222 14 aI 
 
 Brought
 
 APPENDIX. 8j 
 
 I' 
 
 S. 
 
 D. 
 
 785,222 
 
 1 + 
 
 4i 
 
 319,876 
 
 8 
 
 H 
 
 42,844 
 
 4 
 
 S 
 
 57,123 
 
 2 
 
 2l- 
 
 5. '20 
 
 I 
 
 3 
 
 474,f"'50 
 
 '5 
 
 'r 
 
 4,000 
 
 
 
 
 
 Brought forward ■ 
 
 Great Wardrobe 
 
 Ditto for the late Queen's Mourning 
 
 Robes , 
 
 Ditto to the Lord Sidney, upon Account of Clotlies furnifhed King 
 
 Charles II. when he was Mafter of rfiat Office 
 
 Paymafter of the Works 
 
 Ditto on Account of the late Queen's Funeral 
 
 Mr. Roberts, Paymafter of the Works at VVindfor, on Account of 
 Works there, over and above what has been paid thereunto out 
 
 of the Revenues of the Honour and Caftle of Windfor 5,000 O 
 
 'Upon Account of making his Majefty's Gardens, over and 
 above the Gardeners Salaries, payable by the Tre.Tfurer 
 
 of the Chamber, until 1695 
 
 Gardens <( On the Contraft for ^4,800 per Annum, commencing 
 
 ifrom ditto 
 
 On the new Allowance of ^2,600 per Ann'am, which 
 
 J_ commenced from Chriflmas, 17SO 
 
 Stables, and for buying Horfes, Sec. 
 
 Foreign Minifters, ordinary and extraordinaries 
 
 Fees and Salaries ■ — — 
 
 Penfions and Annuities 
 
 Qiieen Dowager ■ — 
 
 Late Queen's Treafurer ■ 
 
 Ditto for French Proteftants 
 
 Prince and Princefs of Denmark ■■- 
 
 Duke of Gloucefter on £1,500 per Annum — 
 
 Band of Gentlemen Penfioners . 
 
 r Secretaries of the Treafury . 
 
 c t <; ■ 3 Secretaries of State . 
 
 I Particular Perfons by his Majefty's Warrants, under 
 
 L his Royal Sign Manual 
 
 Privy Purfe ■ 
 
 Ditto for purchafmg Free Farm Rents to the Earl of Portland 
 
 Ditto to the Lord Somers, &c. ■■ ■ ■ 
 
 Jewels ' ■ — . 
 
 Plate 
 
 Bounties paid at the Exchequer to feveral Perfons, by his Majefty's 
 
 particular Warrants ' 
 
 Monf. Fleury, for Goods taken from the French, at Bourbon Fort, 
 
 Hudfon's Bay, and given to the Hudfon's Bay Company, which, 
 
 by the Treaty of Ryfwick, were to be reftored 7,086 17 o 
 
 Subfcribers of 3^2,000,000 for the Eaft India Trade, an Allowance of 
 
 1 per Cent. 20,000 o • 
 
 The Receivers of ;^ 2,000,000, in Reward and for Charges in paffing 
 
 their Accounts i6,coo o o 
 
 115,097 
 
 12 
 
 7i 
 
 16,800 
 
 
 
 
 
 1,000 
 
 
 
 
 
 235,965 
 
 '5 
 
 3i 
 
 4b2,753 
 
 7 
 
 2f 
 
 858,086 
 
 16 
 
 9 
 
 686,189 
 
 17 
 
 7 
 
 178,031 
 
 15 
 
 4 
 
 5o6>356 
 
 10 
 
 •t 
 
 75,000 
 
 
 
 
 
 638,921 
 
 ^5 
 
 7." 
 
 37,500 
 
 
 
 
 
 6g,c30o 
 
 
 
 
 
 616,323 
 
 7 
 
 2 
 
 76,963 
 
 19 
 
 6 
 
 82,100 
 
 
 
 
 
 483,555 
 
 
 
 
 
 24,571 
 
 5 
 
 4 
 
 33,600 
 
 
 
 
 
 66,069 
 
 
 
 
 
 102,843 
 
 13 
 
 8 
 
 226,823 
 
 19 
 
 I 
 
 Carried forward — — > 8,330,782 17 icf 
 
 M -2 Brought
 
 
 £■ 
 
 
 5. 
 
 D. 
 
 8, 
 
 .33^. 
 
 782 
 
 »7 
 
 10^ 
 
 
 12, 
 
 000 
 
 
 
 o 
 
 I4 APPENDIX. 
 
 Brought forward — — 
 
 To Mr. Stratford, in Part of ^2C,ooo, in Cloth fwnt to Sweden 
 Karl R.inflagh for Lord Fairfax, j^ 600 ; Bounty to Officers Widows,. 
 /."i,670; for Freiicii Oflicers, £^2°'' ^'^^ Liveries for Lumley's 
 Trumpeters, ^,393 3^5 and for Lourt Drums and Fifes Salary, 
 
 l^° . ; . — ;^ — — 2>(>2^ i O 
 
 Contingents of divers Natures, viz. Law Charges, Liberates of the 
 Exchequer, riding Charges to Meflengers of the Court, and Re- 
 ceipt of Exchequer Rewards and extraordinary Charges to Receivers 
 of Taxes, and lundry others on fcveral Occalions, burplufes of Ac- 
 counts, Printers Bills, fundry Works and Repairs by the Surveyors 
 of the Woods, the private Roads, and other particular Officers, his 
 Majefty's Subl'ci iption of ^{[10,000 to the Bank of England, a lik-e 
 Sum to the new Eaft India Company, as alio ^3,000 for carrying 
 on the Trade, Bounties for apprehending Highwaymen, Traitors, 
 and Libellers, Money paid for purchafing Land to be laid into his 
 Majefty's Park at VVindfor, and very many other accidental Pay- 
 ments 534,889 I lof 
 
 8,880,506 2 9 
 
 V. DIVERS ISSUES, 
 
 States General, purfuant to an Aft of Parliament, anno 1689 
 
 Servants of King Charles IL by ditto A£t — 
 
 To the A'lint out of Coinage Duty, kc. which includes feveral Pay- 
 ments relating to the Recoinage in general 
 
 Redemption of Captives — — 
 
 Privy Purfe of the late King James at the Exchequer . 
 
 Principal Money lent IVmpore Jacobi II. — — — 
 
 To feverals, for Money advanced in the Weft, in 1688 
 
 600,000 
 60,000 
 
 
 
 
 
 
 
 
 
 259,584 
 
 1,000 
 
 17 
 
 
 7* 
 
 
 200 
 
 
 
 
 
 138,412 
 
 4,000 
 
 19 
 
 
 
 9 
 
 
 
 5.216,530 
 
 875,880 
 
 1,079,089 
 
 2 
 
 16 
 
 2 
 
 4l 
 9t 
 9J 
 
 Intercll; Money paid to feveral, out of the Revenues, Taxes, and 
 
 Loans, and for divers other Caufes 
 
 Intercft to the Rank of England 
 
 iOn Survivorlhip at 14 per Cent, on the Million Aft 
 On the Tunnage for one, two, and three Lives, for 
 /30o,ooo — 287,059 14 11^ 
 
 On a Lottery for a Million paid in for 16 Years Annuity 1,049,776 15 5J 
 To the Malt Lottery OfBce, in part of j^i,200,000, Principal and 
 
 Intereft 760,142 6 o 
 
 To the Treafurcr of Excife, to fatisfy Tallies of Excife, and Poft 
 
 OfBce ■ 467,000 o o 
 
 To the Englifh Eaft India Company and general Society trading 
 
 thither, on ^160,000 per Annum 429,96a 3 ii| 
 
 To the Truftees for circulating Exchequer Bills, for Premiums, Sala- 
 ries, 6:c. befides ,{^43,435 incluiivc, in Account of Intereft for 1697 254,119 3 7y 
 Principal Money repaid more than borrowed for feveral Years 3,341,903 ^ ^i 
 
 To Receivers of Taxes, in Reward for Extraordinaries 5,446 9 8f 
 
 To Peter Hume, Gent, to be applied as his Majefty Ihoulddireft 5,200 o o 
 
 Carried forward — • — — 14,835,308 i gl 
 
 2 Rroughc
 
 14,835,308 I 
 
 D. 
 
 9i 
 
 84,963 8 
 
 8^ 
 
 56,988 II 
 
 5 
 
 APPENDIX. 3i 
 
 r. s. r> 
 
 Brought forward ■ 
 
 New Money, in part of^ 122,584. 2s. id. old Money recoined, paid the 
 Army and Navy ■ 
 
 To the Commiffioners of Excite in new Money, the Proceed of old 
 Money received from them 
 
 Clipt Money delivered to be recoined more than it produced, toAli- 
 chaelmas 1696, in Aid whereof there was returned from the Mint 
 in after Years, more than was fent thither in thofe Years, as per 
 contra, ^184,656 17^. 11 J-/ which reduceth the general Deficiency 
 of the Reccinage to /2, 41 3,140 its lo^d. the Deficiency in the 
 Year 1696 amounting to • 
 
 To the four Tellers of the Exchequer in Exchequer Bills, to be deli- 
 vered to fuch Perfons as brought Money for them, in 1695 
 
 Imprefl: Money repaid lo the Treafurer of the Navy, being old Mo- 
 ney new coined 
 
 New Money to the Eail of Ranclagh, the Proceed of j^i3,0C0 in old 
 hammered IMoney 
 
 To feveral for a Reward of 6s. an ounce for wrought Plate brought in 
 
 to be coined 3)846 17 8| 
 
 To the Treafurer of Greenwich Hofpital, purfuant to the Addrefs of 
 
 Parliament — — 19,500 o o 
 
 To the CoaimifTioners for forfeited Eftates in Ireland — — 3>i33 15 o 
 
 To the Commiffioners for ftating and determining Accounts, for Inci- 
 dents, &c. ■■ 35500 
 
 To the Tellers of the Exchequer for a Lofs on 89, 196^^ Guineas, re- 
 ceived at 22s. and ifTued at 21s. 6d. 2,229 18 3 
 
 Intereft of the Bankers Debts — — — — 466 i 7 
 
 2 > 599, 797 
 
 14 
 
 10 
 
 158,589 
 
 
 
 
 
 4,422 
 
 3 
 
 n 
 
 6,497 
 
 9 
 
 ci 
 
 17,779,243 I 11 
 
 That remained in Balance at the Foot of the Half-Year's Account, 
 
 ending at Lady Day, 1702 — — 619,159 13 6f 
 
 18,398,402 15 5|- 
 Add that remained at Michaelmas, 1699, more than was carried for- 
 ward to the Account of 1700, occafioned by feveral Sums then 
 remaining in the Hands of feveral Receivers, for which they after- 
 wards accounted with the Auditors of the Imprefl; • ^,326 I 7| 
 
 18,399,728 17 i\ 
 
 Deduct that was carried to Account from Michaelmas, 1701, more 
 than the Balance at Michaelmas, 17CI, occafioned by fo much Icfs 
 applied out of the 2d and 3d Aid,=anno 1699, to pay Arrears on 
 Annuities for one, two, and three Lives, and was afterwards applied 
 to the cancelling Exchec^uer Bills inftcad of thole Annuities 1,1101a 8|- 
 
 18,398,618 4 4f 
 ABSTRACT
 
 ^6 APPENDIX. 
 
 S. D. 
 
 ABSTRACT OF ISSUES, 
 
 1. Navy ' 19,822,141 4 6J 
 
 IL Army 22,017,706 15 oj 
 
 Jir. Ordnance 3>oo8,535 16 loj 
 
 IV. Civil Lift 8,880,506 2 9 
 
 V. Sundry Iffues 18,398,618 4 4f 
 
 Total Iffues 72,127,508 3 6| 
 
 The Receipts and IfTues thus exaftly balance each other, and it is 
 remarkable to find in a naatter of fuch magnitude, the error of a Jingle 
 farthing (fee p. 82) fpecially taken notice of, a full Proof of the Care 
 and Accuracy with which the Public Accounts were kept, for ibmc 
 time pofterior to the Revolution. How far the fame attention has been 
 paid to them in later times, and whether fimilar abftradts of the Re- 
 ceipts and Ifllies are ftill regularly drawn up, is more than the Author 
 has as yet been able to difcover, however anxious he has been to ob- 
 tain information upon the fubjedl.* 
 
 * I have been fortunate enough to procure (after a copy of fo curious and .important a 
 Hianufcript had been loft, by the perfon to whom it was intrufted) anTaccount of Receipts 
 and Iflues up to the 27th of March, 17 14. Since that period the Votes of Parliament, 
 and the State of Public Services and Grants annually laid before the Houfe of Commons, 
 are the principal fources of information to which the Author has had accefs. They are far, 
 however, from being fo complete, as an accurate inveftigation of the fubjeft would require, 
 3nd in particular the fums annually paid to the public creditors, aad the nature of the 
 Civil Lift Expenditure, are left, totally' uncertain or indefinite
 
 THE 
 
 HISTORY 
 
 OF THE 
 
 PUBLIC REVENUE 
 
 OF THE 
 
 BRITISH EMPIRE. 
 
 PART II. 
 
 [A]
 
 PART IL 
 
 CHAP. I. 
 
 Of the various Modes of providing for the extraordinary 
 
 Expences of a Nation. 
 
 TH E charges incurred by a nation in times of peace, feldom 
 exceed its ordinary income, or what it may be made to pro- 
 duce. It requires no great revenue, to maintain the magiftrates 
 entrufted with the general government of the country ; to fupport fuch 
 as are employed in expounding the laws, and in diftributing juftice j 
 and to defray the expences of fuch public works as are effentially 
 neceflary for the benefit of the community. Indeed, if nations were 
 always at peace, fupplying a revenue for public purpofes, could never 
 prove burdenfome to fociety. 
 
 But the neceffity there is, from the turbulent difpofition of the 
 human fpecies, and the ambition of thofe individuals who govern the 
 affairs of States, to be perpetually providing for the expences of war, is 
 uniformly attended with the heavieft charges. Maxims of frugality, 
 however proper and defirable at other times, are found incompatible 
 with a ftate of hoftility. When the fate of a nation is at ftake, or 
 even when any of its important interefts are endangered, exertions muft 
 be made, without regarding the expences they may occafion. The 
 troops and armaments of the foe muft be oppofed, whatever coft fuch 
 oppofitlon may require ; and every citizen muft facriiice a part of his 
 
 [A] 2 fortune.
 
 HISTORY OF THE PUBLIC REVENUE 
 
 fortune, either to increafe the property and maintain the interefts of 
 the community to which he belongs, or to preferve the wealth, which 
 it has already acquired from the attacks of its enemies. 
 
 It is evident therefore, that a material difference neceffarily cxifts 
 between the revenue fuflicicnt for times of peace, and the refources 
 which are requifite to defray the various heavy charges which a war 
 mufl: occafion. 
 
 •The ingenuity of mankind, particularly in modern times, has been 
 much engaged in attempts to difcover, what is the heft mode of pro- 
 viding for thefe extraordinary expences ; and four fyftems have been 
 fuggefted for that purpofe. It has been propofed, i. To accumulate a 
 treaUire in time of peace, adequate to the exigencies of war. — 2. To 
 levy the neceflary fupplies within the year, by means of extraordinary 
 additional taxes. — 3. To exa£t compulfive loans from the wealthieft 
 individuals of the community. — 4. To borrow money from fuch as 
 are willing to advance it, upon the fecurity of the public faith. 
 
 Each of thefe modes it is propofed briefly to examine. 
 
 I. Accumulating a Treafure. 
 
 At the commencement of political focieties, a confiderable fliare of 
 the territory they poffefs, is uniformly dedicated to national purpofes. 
 In the infancy of States, however, there is neither inclination nor op- 
 portunity to be prodigal j and confequently, when there happens to be 
 any furplus, after defraying the neceffary expences, it is in general 
 accumulated into a public treafure, and referved for any unforefeen 
 emergency. In ancient times, the practice was very prevalent ; and, 
 in England, the monarchs who lived after the conqueft, were pro- 
 vided with fuch treafures, owing as much to their inability to expend 
 their revenue, as to any parfimonious dlfpofition, or any forecaft for 
 the future. 
 
 Sometimes, however, the fyfliem of accumulation has arifen from 
 real forefight ; and among the various adts for which the political 
 wifdom of the Romans has been celebrated, fome authors have in- 
 cluded their levying a tax for the exprefs purpofe of preparing a fund 
 for public emergencies. The commonwealth, we are told, had hardly 
 been eftabliftied by the expulfion of Tarquin, before they began to 
 6 colle<!ll
 
 OF THE BRITISH EMPIRE. 5 
 
 ■collect the Auriim Vicefiuiarium, or impoft of the twentieth penny, 
 upon the file of flaves ; the amount of which was depofited in the 
 temple of Saturn, there to he kept facred for the moft preffing exigencies 
 of the State', It continued accumulating for many years,-and remained 
 untouched as long as the free government of Rome exifted, excepting 
 during the iecond Punic war, when it was thought excufable, after Han- 
 nibal had ravaged Italy for ten years, to take four thoufand pounds 
 weight of gold out of this treafure, to affifl in defraying the various 
 enormous expences to which the commonwealth was then fubjedt. 
 
 But this mode of employing the furplus revenue of the public, is 
 attended with one material difadvantage. If the precious metals at all 
 contribute to the happinefs of political fociety (v.'hich cannot be doubted, 
 at leaft by thofe who confider with hov/ much greater facility commerce 
 is carried on in confcquence of fo ufeful a medium), every plan that 
 tends to diminifh their abundance, mud be prejudicial. A fyftem of 
 that nature may be lefs hurtful, before iuduftry and commerce flourifii ; 
 and at fuch a period may perhaps be neceffary, from the difficulty with 
 which any conliderable fum of money is colledled in critical emergencies. 
 But, in general, it would be better to employ the furplus of the national 
 revenue in works of public advantage, or even in the conftrudtion of 
 ufelefs pyramids, as was done by the fovereigns of Egypt, than in ac- 
 cumulating a hoard to lie dormant, without intereft and without cir- 
 culation. 
 
 A well-known and eminent author has notwithftanding vehemently- 
 contended for continuing the practice of the ancients ; and in particular 
 grounds himfelf upon this idea, " That the opening of fuch a treafure 
 " neceflarily produces an uncommon affluence of gold and filver, ferves 
 " as a temporary encouragement to induftry, and atones, in fome degree, 
 *' for the inevitable calamities of war*." Unfortunately for this author's 
 hypothefis, the fame circumftance, namely the abundance of gold and 
 filver, which alleviates the calamities of war, augments alfo the bleffings 
 of peace ; and thofe bleffings are neceflarily diminifhed where treafures 
 are accumulated : indeed, a public hoard can hardly be colleded, without 
 reducing a nation, in point of commerce and circulation, to much the 
 
 ' See a beautiful poetical defcription of this treafure, Lucan's Pharfalia, 1. iii. v, 155. 
 * Hume's Effays, vol. i. p. 365. 
 
 fame
 
 HISTORY OF THE PUBLIC REVENUE 
 
 fame iituation in times of tranquillity, as in the midft of war. Befides, 
 it is proper to remark, that the Romans always endeavoured, in the firft 
 place, to procure money by loans, and never applied to their treafure, 
 but when their credit was exhaufted. 
 
 There are other unfurmountable objedions to the amafling of public 
 treafures ; fuch as, the dangers with which they are accompanied ; of 
 ufurpation in monarchial governments; of defpotifm in free States ; and, 
 imder every form of government, of being improvidently expended. 
 It appears from the hiftory of England, that the ufurpations of the 
 three monarchs who reigned after William the Norman, were greatly 
 owing to their having fecured the treafures of their predecefTors. We 
 learn alfo from the hiftory of the Roman Commonwealth, that if no 
 public treafure had exifted at the time, Ca^far could hardly have fuc- 
 ceeded in his daring attempt upon the liberties of his country : and it 
 is well known, that the immenfe treafure which the republic of Athens 
 had been accumulating for the fpace of fifty years, and which at laft 
 amounted to above ten thoufand talents, was diffipated in rafh and im- 
 prudent enterprifes, to the ruin of the Stated Indeed, if nations are 
 tempted, when their credit is high and flourifhing, to engage in deftruc- 
 tive plans of hoftility and conqueft, how much more may not this be 
 apprehended, if a treafure is already amafled, which may eafily be ap- 
 plied to gratify the ambition of an impetuous and inconfiderate mo- 
 narch, or to carry into effedl the political proje(3;s of an arful dema- 
 
 gogue ? 
 
 II. Railing the Supplies within the Year. 
 
 When a nation finds that its expences exceed its revenue, and that 
 either no treafure has been accumulated, or that it is inadequate to the 
 charges which are likely to be incurred, it naturally endeavours to raife 
 extraordinary fupplies, by additions to its ordinary income. It was 
 upon this principle, that aids were originally granted by Parliament to 
 the Kings of England : nay, at the Revolution it was imagined, that a 
 general excife, in addition to the ufual revenue, would have furniihed 
 money fufficient to defray the expences of the war *. Various circum- 
 
 3 Hume's Eflays, vol. i. p. 335. * Davenant's Wprks, vol. i. p. 18. 
 
 ftances*
 
 OF THE BRITISH EMPIRE. ,i ■ 
 
 fiances, however, unfortunately contributed to render fuch a plan at 
 that time impracticable. The inftant of a revolution is an improper 
 period for increafing, in any great degree, the burdens of a nation. 
 Many would have rejoiced at fuch an opportunity of fpreading difafFec- 
 tion to the new government. Taxes were at that time peculiarly un- 
 popular in England ; infomuch that it was thought neceflary, in order 
 to ingratiate the new fovereign with his people, to diminiih inftead of 
 increafing the revenue, and to repeal the produdive duty of hearth- 
 money, by one of the firfl. adls to which William III. gave the royal 
 aflent after his acceflion. 
 
 The mode of raifmg the extraordinary expences of the nation, by 
 fupplies within the year, has often been recommended by different 
 authors fince the Revolution. 
 
 Sir Matthew Decker, in his famous plan for levying the whole re- 
 venue by a fmgle duty upon houfcs, which he publifhed afmo 1 744, 
 exprefsly mentions the poffibility of raifmg the current fervices within 
 the year ; " a thing (he obferves) greatly defirable by every body, and 
 ^" the want of which has been the caufe of our prefent national debt '." 
 
 Poftlethwayt (a laborious and intelligent writer), in a work publiflied 
 a?tm 1757% endeavours to convince his countrymen, both of the ne- 
 ceifity and the practicability of that meafure. But his idea was to raife 
 only three millions per annum additional, and the war had become fo 
 enormoufly expenfive (requiring more than double that fum), that it 
 was evident, it could not prove, on fo narrow a fcale, of any material 
 benefit, and no one ventured to ftate the poffibility of its being farther 
 extended '. 
 
 Anableand public-fpirited fenator,however, recently recommended the 
 fame plan to the public attention'. He fuppofes, that the whole property 
 of the nation amounts to one thoufand millions in real value, a duty of 
 one and a hAiper cent, therefore on every man's capital, paid by inftal- 
 
 5 Serious Confiderations on the feveral high Duties which the Nation labours under, p. 20. 
 
 'Great Britain's true Syftem, particularly ;Let. ii. and xiii. 
 
 7 Poftlethwayt himfelf, in his Di6tionary, voce F"und, /;/ fine, acknowledges, that when 
 he recommended raifing the fupplies within the year, he never imagined that they would have 
 rifen to fo high a pitch. 
 
 * Confiderations on the prefent State of Public Affairs, by William Pulteney, Efq; 
 3d edit. p. 31. anno 1779. 
 
 ments.
 
 HISTORY OF THE PUBLIC REVENUE 
 
 ments, would raife, in the courfe of two years, fifteen millions ; and 
 he calculated, might, without much oeconomy, fupport a vigorous war 
 for that fpace of time. The fame ideas were alfo enforced by the inge- 
 nious Mr. Arthur Young ; but he contends, that the additional taxes 
 fhould be levied, not upon capital, but upon income. The permanent 
 income of the nation, he imagines to be one hundred millions per 
 anmnn^ which could eafily bear a permanent burden of thirteen mil- 
 lions, and would yield befides, without much oppreflion, a temporary 
 aid of eight millions more '. 
 
 The advantages that would have refulted from this mode of raifing^ 
 the fupplies, arc dlfplayed by the authors above-mentioned in the moft 
 flattering colours. Land, it was faid, inftead of felling from 20 to 25 
 years purchafe, would foon reach from 27 to 32. The three per cents 
 would rife from 60 to 88 ; and obtaining money upon mortgage, would 
 no longer be attended with difficulty. The alarming prophecies con- 
 cerning a national bankruptcy, would vanifh ; and more would be done 
 towards procuring an advantageous peace, than could be effe<Sled by 
 many victories. Nay, the Chancellor of the Exchequer (Frederick, 
 Lord North) in the opening of the budget 24th February 1779, de- 
 clared in parliament, " That fuch a plan, he conceived, would not be 
 *' difficult, if there was a full confidence in government. Great facri- 
 " fices, it was true, muft be made, and many gratifications given up : 
 *' but if the meafure fhould become neceffary, that coniideration ought, 
 *' and he believed would give way. The honour, the glory, nay the 
 *• very exiftence of the country, might require it '°." 
 
 To carry fuch a plan into effedl, two things are requifitc ; firft, 
 power and refources in a State j fecondly, inclination in the Public at 
 large. 
 
 The ability of a nation to make a great addition to Its revenue, 
 amidft all the horrors and calamities of war, more particularly in mo- 
 dern times, when hoftilities are prolonged to fuch a length, and are 
 carried on in fo extenfive a manner, is at beft problematical. The Dutch, 
 whofe example is commonly adduced upon this occafion, were contend- 
 ing for their own liberties at their own doors. Whereas, when Bri- 
 
 9 Polit. Arithmet. Part If. By Arthur Young, Efq; p. 44. 37. 
 
 •c Debates of the Houfe of Commons, publiflied by Almon, vol. xii. p. 8. 
 
 taia
 
 OF THE BRITISH EMPIRE. 
 
 taia engages m a war, it mud employ fleets and armies to proteft re- 
 mote poireilions almoft in every quarter of the globe. Though fufficient 
 property therefore adually exifted in the country, yet ftill the difficulty 
 of colleding it from the diflant provinces of the kingdom, fo as to 
 anfwer the critical moments of an extenfive war, muft be very great. 
 
 Beiides, in a country like England, the wealth of which depends 
 fo much upon the fecurity and profjperity of its commerce, fuch a plan 
 would be attended with peculiar difficulties. The following is Mn 
 Yoimg's calculation of the annual income of the nation : 
 
 Income from Land - - _ - - jT. 63,000,000 
 ——— from Manufactures ; - - ■»-. /i-*!- 20,000,000 
 
 '• — from Commerce, and the profits of our Co- 7 '. 
 
 ionial PofTelfions - - - -i 17,000,000 
 
 jC. ip0^OpC3f,000 
 
 Thus it is fuppofed,- that thirty-feven millions of the, national in- 
 come arifes from property, liable, in time of .war, to great hazard, 
 and much diminution in point Of value, and confequently unable to 
 bear any heavy additional burden. ~ 
 
 Or, if inflead of income, the capital of a country, according to Mr. 
 Pulteney's idea, is to be taxed ; without dwelling upon this objedlion, 
 that people may have great property, without having much money at 
 command, it will be eafy to perceive the difficulty of colleding the tax, 
 and the great uncertainty of its produce, when it is confidered, that 
 the fuppofed capital of ofie thotifand millions^ comprehends the value of 
 the land ; the value of houfes ; the value of flock of all kinds ; of 
 materials for manufaiSlure ; fhipping; cafh ; money in the funds due 
 to natives ; and, in fhort, every thing that can be denominated wealth 
 or property-". 
 
 But in nations where the ability exifls, the Inclination is often want- 
 ing. The refpedable author above-mentioned very juftly remarks, 
 " That it is in a free country only that mankind feel themfelves fo con- 
 " neded with public prolperity, as willingly to facrifice, in fupport of 
 " it, a part of their fortune, in great emergencies "." But free States 
 are in general fo divided into parties, that hardly any adminiflration 
 
 " Confiderations, &c. by William Pulteney, Efq; p. 28. •' Ditto, p. 32. 
 
 [ B ] can
 
 30 HISTORY OF THE PUBLIC REVENUE 
 
 can expedt the unlverfal, or even the general confidence of the people. 
 In luxurious and commercial ages alfo, which are the heft calculated 
 in point of ability for executing fuch a plan, individuals are fo felfifli 
 and interefted, and fo fond of pleafure, and the frivolous joys of diffi- 
 pation, that zeal and public fpirit are rare, and few would curtail them- 
 felves even in the moft infignificant gratifications, for the purpofe of 
 contributing, to equip an armament, for the defence of Madras, or the 
 proteQion of Jamaica. Nay, it is queftionable, whether war at their 
 own doors would roufe them from their filken lethargy. 
 
 The plan of raifmg its fupplies within the year, however, is a 
 circumftance which every nation ought to have in view, as it may 
 poflibly prove abfolutely neceffary for its prefervation and exiftence ; 
 and perhaps it might be rendered lefs oppreffive, and more practicable, 
 if, inftead of fpecie, a part of the new additional fupplies were exadled 
 in kind j and if the furnifhing of a certain number of recruits ; the 
 providing of a certain number of feamen, or a certain quantity of 
 naval ftores, &c. dec. were confidered as a fufficient equivalent for 
 the new taxes, at a certain reafonable converfion. For there may be 
 property in a country amply fufficient to carry fuch a plan into effedt, 
 and yet, where money is demanded, it may be rendered impradlicable, 
 from the want of a fufficient quantity of circulating fpecie. Such a 
 plan might perhaps be attempted, if the real ftrength and refources of 
 the kingdom were fully known ; and if it were afcertained, what each 
 diftridt could affi)rd for the public fervice, on any important emergency,, 
 not only in money, but in other articles ufeful to the State. 
 
 III. CompulUve Loans, 
 
 Voltaire has defciibed in his ufual fprightly manner, the loans which 
 were extorted from their fubjeftSy by the ancient Kings of England. 
 " Thofe who lent their money (he fays) generally lofl it, and thofe who 
 " did not lend, were fent to jail '\" And it is evident, from what has 
 been faid in the preceding part of this work, that fuch loans were 
 highly oppreffive upon- the fubjed, without being of much advantage 
 to the crown. Indeed, fo little were they entitled to the name of loan, 
 
 " General Hlflory, vol. iii. part vi. c. 3. 
 
 that
 
 OF THE BRITISH EMPIRE. n 
 
 that no Intercfl: was allowed for the money, nor was there any certainty 
 of its being repaid. 
 
 The pradice, however, of compelling wealthy individuals to con- 
 tribute to the relief of the crown, may be traced to a very ancient pe- 
 riod of our hiftory'*. Foreign merchants, who, in the words of the 
 record, " had rights and privileges conferred upon them, by the grace 
 " and fufferance of the King, reportcint grand lucre" were made fub- 
 ject to this exadlion, during the difgraceful and neceflitous reign of 
 Henry III." The pradice was afterwards extended to the natives of 
 the kingdom ; but it was accounted fp peculiarly obnoxious, that, 
 among the articles for which Richard II. was depofed, his having bor- 
 rowed (or rather extorted, under the pretence of borrowing) great 
 fums of money, which were never repaid, is particularly iniifted 
 upon '*. 
 
 In the reign of Henry Ylll. Ads of Pariiament were pafied, dif- 
 charging all his debts founded on loans, whether voluntary or com- 
 pulfive ; and the credit of the crown of England, in confequence of 
 thefe harfh and rigorous meafures, continued at the lowcft ebb, until it 
 was revived by the prudent meafures taken by Elizabeth, and the punc- 
 tuality which fhe maintained. In general, fhe found little difficulty in 
 borrowing money, without being obliged to have recourfe to compul- 
 fion. But fhe was fometimes reduced to the neceffity of imitating, in 
 this refped, the example of her predeceflbrs ; and occafionally iflued 
 letters under the privy feal, demanding the loan of a fpeclfic fum of 
 money, from the wealthlefl: of her fubjeds. This (according to an 
 old writer) was, " an enforced piece of ftate, to lay the burthen on 
 " that horfe that was beft able to bear it at the dead lift, when neither 
 " her receipts could yield her relief at the pinch, nor the urgency of 
 *' her affairs endure the delays of a parliamentary afliftance "." 
 
 By the famous petition of right, compulfive loans were totally 
 abolifhed : but it is a curious fubjedl of political fpeculation, whether 
 fuch a plan might not be improved, fo as to anfwer many beneficial 
 
 •+ Stevens (Pref. p. 15.) ftates, upon the authority of a manufcript in the Cottojiian 
 library, that compulfive loans began in the reign of Henry IF. 
 
 " Cotton's Port. Work, p. 177. Noy's Rights of the Crown, p. 45. who fays it was 
 Henry V. 
 
 '■^ Rot. Pari. vol. iii. p. 419. ■' Naunton's Fragmenta Regalia, p. 12. 
 
 [B] 2 public
 
 12 HISTORY OF THE PUBLIC REVENUE 
 
 public purpofes; and whether fuch a fyftem ought not to be kept In 
 view, if another war fhould unfortunately foon break out. If every 
 wealthy perlbn in the kingdom were obliged, when called upon by the 
 legiflature, to furnifli a certain fum of money, at a reafonable intereft, 
 upon the faith and fecurity of Parliament, loans would be raifed upon 
 •moderate terms, and probably without much murmur or opprefTion. 
 By fuch means, the enormous profits, which are exadled by ufurious 
 money-lenders, wfho combine together, and take every unfair advantage 
 of the public neceflities, w'ould be prevented ; nor would the nation, to 
 gratify their rapacity, be loaded with burdens almofl unfupportable. 
 
 IV. Voluntary Loans. 
 
 ^ But of all the modes of providing money for defraying the extra- 
 
 ordinary expences of a nation, that of borrowing from fuch as are will- 
 ing to lend their property upon the public fecurity, is undoubtedly 
 the moll efficacious ; and it may not be improper, briefly to flate the 
 progrefs of the fyftem. 
 
 1, On valu- The moft ancient, and Indeed the moft natural mode of borrowing 
 
 any confiderable fum of money, is that of giving to the lender, in 
 pledge, fome article, the value of which is well known, or can eafily be 
 afcertained. It was a long time before other modes of fecurity were 
 invented, or ufually pradtifed. Nay, after bonds and written obliga- 
 tions had become more frequent, recourfe was occafionally had to 
 pledges J and many of the Kings of England were reduced to the ne- 
 ceffity of pawning their jewels, crown, and other valuable effects, in 
 critical emergencies. 
 
 2. On Perfo- Job^, King of France, we are told, nobly declared, that If good 
 nal Security. £^^^^ were banifhed out of the reft of the world, yet that it ought ftill 
 
 to be found in the breafts of princes ; and fuch in general is the con- 
 fidence placed in the Royal Diadem, that there are few monarchs 
 who are not able to raife fome money upon their perfonal obligations. 
 But the amount of fuch fums is feldom very confiderable. Indeed, 
 the additional fecurity of the City of London, and fometimes of the prin- 
 cipal Minifters of State, was required, before fome of the Sovereigns of 
 England could in this manner obtain the money which their neceffities 
 demanded. 
 
 • In
 
 OF THE BRITISH EMPIRE. 13 
 
 In almoft every country, the laws have frultlefsly endeavoured to 3'^yinort- 
 prevent the diffipation of the Royal Domains; and in England, it was Pubik Do- 
 held impious to alienate them. Nay, as an additional check, every '"2•"'• 
 King was entitled to refume his own grants, or thofe of his predeceflbrs. 
 Mortgaging the Domains, however, is in general permitted, as a lefs 
 pernicious meafure, though often attended with more ruinous confe- 
 quences. For, after any individual has been long in poffeflion of 
 lands as, a mortgagee, the fpecific nature of his right is forgotten ; 
 and he is not a little apt to confider himfelf, and to be confidered by 
 others, as the real proprietor. 
 
 The mode, by which a nation firfl raifes a confiderable fum of money, 4. By mort- 
 is generally by mortgaging fome particular tax or branch of its re- IfS'^S 
 venue, and anticipating its produce. This is a very ancient pradice 
 in England. It may be traced, it is fuppofed, as far back as the reign 
 of Edward I. ; and it is certain, that in the year 1444, Cardinal Beau- 
 fort gave a fum of money in loan to Henry VI. upon the fecurity of 
 the Cuftoms of London and Southampton ". "Various other inftances 
 of fuch anticipations will occur in a fubfequent chapter. 
 
 When any branch of the revenue is mortgaged, it may either con- 
 tinue under the management of public officers, as is the cafe in Eng- 
 land, or it may be entrufted to the care of the creditor, as is the 
 praclice in France. The firft is beft adapted to a free ; the fecond, to 
 a defpotic government : but, under every government, it has been ori- 
 ginally found neceflary to farm the revenues, either to the creditors of 
 the public, or to thofe who make it their profeffion. For, fuch is the 
 ingenuity of mankind, and fuch their inclination to elude taxes, that 
 they would never become produdive, if interefted perfons were not 
 employed to difcoverthe means of counteraflingthe evafion of them; and 
 the public may afterv/ards, through the medium of its own officers, 
 reap the benefit of fuch difcoveries. 
 
 . Another mode of borrowing money, is, by granting annuities for a 5- ^y '*«"- 
 certain fixed fpace of time, at the end of which they are totally to nuiti«s. 
 ceafe. The experience of England tends to demonftrate, that this is 
 not an advantageous mode of procuring money : at leaft the demand 
 
 •' Noy's Rights of the Crown, p. 41. 
 
 of
 
 .14 HISTORY OF Tlir. PUELIC REVENUE 
 
 of tlie creditor Is propoitionably higher for fliort, or even long an- 
 nuities, than when a perpetual annuity is granted ; and a nation which 
 adopts the funding fyftem, ought to confider Itfelf as a great and per- 
 manent corporation, and ought to adopt that plan, which, in the courfe 
 of many centuj'les, is the mofl likely to be of advantage to the com- 
 munity, without regarding immediate profit, or temporary conve- 
 niencies. 
 
 6. By Annu- Annuities for lives is another mode that has beerf frequently prac- 
 itiesonLives. tjfgj^ ^nd by fome is accounted the moft advantageous. But it is 
 
 hardly pofTible for a nation, when it is in diftrefs, by any means to 
 make a profitable bargain with a money-lender, particularly on the 
 principle of granting temporary annuities. Thus, when annuities for 
 lives are granted, the creditor takes care to pitch upon the perfons who 
 are the moft likely to live long, and who confequently will prove, for 
 the longeft period, a burden upon the State. Nor have all the flatter- 
 ing hopes which Tontines hold forth to the avarice of mankind, been 
 able to procure money by life annuities, on advantageous terms to the 
 public. 
 
 7. By Ccn- "When a State is in great necefTity, it is eafily induced to liften to the 
 nuuies' "' propofals of any body of men, who offer to fupply it with a confider- 
 
 able fum, in confideration of being invefted with certain peculiar pri- 
 vileges, whllft the money they advance remains unpaid. It was thus 
 that the Bank of England, the Eaft-India Company, and other great 
 Corporations arofe in this country. The grants of fuch privileges 
 may fometimes prove ufeful to the public, as well as profitable to thofe 
 who engage in them. The two Companies above alluded to are un- 
 queftionably of that defcrlptlon. But the limits of that mode of bor- 
 rowing money with advantage, are certainly confined ; for monopolies, 
 or peculiar privileges, cannot be carried to a great height, without in- 
 juring the commerce, and leffening the Induftry of a country, and 
 confequently dlmlnifhlng the national capital, or fund of wealth. 
 
 8. By i?er- The laft mode of borrowing money for national purpoi'es, and the 
 petual An- climax of financial invention, is, when a nation crrants certain annuities 
 
 nuuies. . . . ... 
 
 to its creditors, for ever ^ fubjedt to redemption at a certain price. This 
 is a modern invention, of which the ancients feem to have had no con- 
 ception. It is, in fad, felling for ever, a branch of the public re- 
 venue.
 
 OF THE BRITISH EMPIRE. 15 
 
 venue. It will appear in the farther progrefs of this Work, that by the 
 ingenuity of the public creditors, this mode of raifing money has been 
 rendered much more prejudicial, than otherwife it would be, from the 
 pradtice of adding what may be called artificial, to the real capital. By 
 this artful manoeuvre, the nation cannot redeem fuch perpetual bur- 
 dens, without paying fums confiderably greater than it ever received. 
 
 Such are the various modes of providing for the extraordinary ex- Condufion. 
 ■pences of a nation : to which might be added, exchequer bills and 
 debentures of every kind, the fale of offices, as thofe of judicature in 
 France, and the alienation of the public domains fo univerfally prac- 
 tlfed. On the w'hole, it is eafy to perceive, that every plan of 
 railing extraordinary fupplles, is attended with confiderable difficulties. 
 Perhaps, in different periods of fociety, different plans ought to be 
 adopted. At firft, wars are carried on in a defultory manner, and 
 on a narrow fcale ; and a wife flatefman will then endeavour to pro- 
 cure within the year, as great an addition to the ordinary income 
 of the public, as the nation can be prevailed upon to pay. But in 
 times like thefe, when hoflillties are extended over every quarter of the 
 globe ; and when, from ten to fifteen millions of additional income 
 are required, for military and naval operations, raifing the fupplles 
 within the year, is a meafure, which, however defirable, can hardly 
 be put In pradlice. 
 
 With regard to the befl mode of borrowing money, for the public 
 fervice, it is propofed, to invefligate that important queftion, in the fol- 
 lowing Chapter. 
 
 CHAP.
 
 j6 history of the public revf.nue 
 
 CHAP. II. 
 
 0/ Public Debts m ge?2eral. 
 
 TH E mofl fingular and important political feature of the prefent 
 j^ra, is undoubtedly the heavy load of public debts, with which 
 almoft every nation in Europe is encumbered. It is therefore very na- 
 tural to enquire, with fome degree of anxiety, into the circumftances 
 that gave birth to their exiftence; and into the advantages and difad- 
 vantages they have produced : a fubje£l on which many authors have 
 written with great ability, but which flill remains open to more ample 
 difcuffion, and liable to much uncertainty and diipute. 
 
 I. Caufes of the Public Debts of Modern Europe. 
 
 It has already been remarked, that the ancient mode of providing 
 for the expences of war, was that of colleding treafures in time of 
 peace ; and many have accounted fuch a meafure highly politic. 
 During tranquil periods, it is fiild, that money is lefs neceflary for in- 
 dividuals, as well as for the public ; and if it were not thus locked up 
 for national purpofcs, it would probably be wafted in purchahng lux- 
 urious fuperfluities from other countries. When treafures thus coUedted, 
 are iffued, they revive circulation ; and amidft all the calamities of 
 war, give new vigour to a ftate ; and as the public is thereby enabled 
 to give ready money for provifions, and other neceflary articles, it 
 can always procure them upon eafy and moderate terms. But modern 
 nations, it is faid, having no treafures colleded, find themfelves re- 
 duced, at the very commencement of a war, to the necefiity of borrow- 
 ing. The money they raife, when expended in diftant operations, in- 
 ftead of being thrown into circulation, is aftually taken out of it ; and 
 at the fame inftant, that twelve millions are procured by the minifter, 
 the raanufadurer, and the hufbandman, are involved in the greateft 
 mifery and dlftrefs. 
 
 Such reafoning is plaufible, and it is certain, that if confiderable 
 treafures were coUeded, they would, in a great meafure, prevent the 
 neceflity of contrading debts, unlefs on very important emergencies. 
 
 8 It
 
 .OF THE BRITISH, EMPIRE. 17 
 
 It appears, however, from the preceding Chapter, that public hoards 
 are neceflarily produdive of fo many political evils, as greatly to 
 outweigh any advantage that could pofllbly be derived from them. 
 
 But the heavy burdens with which the exifting powers of Europe 
 are encumbered, are owing, not only to the want of public treafures, 
 but alfo to the different manner of conducting hoftilities in ancient and 
 modern times. 
 
 ■Formerly, one or other of the parties at war, boldly entered Into the 
 territories of his opponent ; and marching diredly to the capital, or to 
 any fpot where the enemy had aflembled, the fate of a wealthy king- 
 dom, or powerful republic, was often decided by a fmgle engagement. 
 But in modern times, the whole fury of the war is fpent in befieging 
 towns on the frontier, or in doubtful naval operations, or in the at- 
 tack and defence of fome remote colony, or diflant appendage ; the 
 confequence of which is, that the war is protraded to a great length, 
 and becomes progreiTively more expenfive. Thus neither of the par- 
 ties are able to procure any great fuperiority, or decided advantage ; 
 and hoftilities are carried on, until the refources of one, or both of them, 
 are exhaufted ; and it is found impoffible to raife money, either by 
 augmenting the ordinary revenue, or by borrowing on the public faith. 
 
 In ancient times, wars were not only fhorter in their duration, but 
 means were alfo taken, and principles were adopted, which rendered 
 great pecuniary fupplies lefs necefTary than at prefent. Formerly, 
 the whole was a fcene of plunder and devaftation. The perfons 
 and the property of the enemy were at the entire difpofal of the 
 conqueror ; and the general eftimated the profits of the campaign, 
 not only by the quantity of money, and other perfonal effetSts he had 
 feized ; but alfo by the number of his prifoners, who were fold for 
 flaves, and were accounted a very valuable commodity. The greater 
 part of the plunder taken in the campaign, was accounted for to the 
 public ; and many a Roman general, after defraying the charges of the 
 war from the booty he had acquired, was alfo able to make confider- 
 able additions to the public treafury, amidft the triumphal (houts of his 
 countrymen. 
 
 The arms now made ufe of, are alfo much more expenfive than thofe 
 of antiquity. The fhield, the fpcar, the lance, the javelin, and the 
 
 [C] bow
 
 i« HISTORY OF THE PUBLIC REVENUE 
 
 how and arrow of the ancients, cannot be compared, in regard to price, 
 with the modern mufquet ; particularly when the reiterated expence 
 of powder and ball is taken into confideration. And as to military- 
 engines, there can be no comparifon in point of coft, between a mo-^ 
 dern train of artillery, and a fet of battering-rams and catapultas. 
 
 But the principal fource of national expences in thefe times, when 
 compared to thofe of antiquity, arifes from naval charges. It is at 
 fea, where all the modern nations have wafted their ftrength. It is on 
 that element that thofe debts have in a great meafure been con- 
 tratfled, under the preflure of which they now groan. Had the 
 rage of equipping numerous fleets, and building fhips of great mag- 
 nitude and dimenfions, never exifted, hardly any ftate in Europe 
 would have been at this time in debt. To that fatal ambition their 
 prefent diftreffed and mortgaged fituation ought chiefly to be attri- 
 buted '. 
 
 The nature of thefe national incumbrances, and the cffe£ls refulting 
 from them, have given rife to political controverfies of thegreateft pub- 
 lic importance. By fome, the practice of borrowing money, to defray 
 the extraordinary expences of a State, is extolled to the flcies, as equally 
 neceflary and ufeful ; whilft others confider it as big with every fatal 
 and deftrudive confequence. It is propofed to give a general view of 
 the various arguments which have been made ufe of on both fides of 
 the queftion. 
 
 II. Advantages of the Funding Syftem. 
 
 Montefquieu, after ftating fome of the inconveniencies of public debts, 
 fays, " I know of no advantages \" Such incumbrances, and the 
 credit on which they are founded, are not perhaps fo beneficial, as fome 
 authors have endeavoured to reprefent them ; but this excellent Writer 
 feeras to have formed, 6n this occafion, by far too hafty a conclu- 
 fion. 
 
 ■ It will appear in the farther progrefs of this Work, how confiderablc a fliare of the 
 revenue of England has been expended on its navy. 
 * L'Efpritdes Loix, 1. xxii. c. 17. 
 
 It
 
 OF THE BRITISH EMPIRE. 19 
 
 It is hardly poffible for any perfon who attentively confiders the fub- '• Advao- 
 
 11 r ' ^ r r i • r i i> t tages in time 
 
 je6V, to deny the benencial conlequences refulting from public credit, of war. 
 in the profecution of a juft and neceflary war. The celebrated Bifliop 
 of Cloyne well obferves, that credit is the principal advantage which 
 England has over France, and indeed over all the other States of Europe ; 
 that it is a mine of gold to this country; and that any meafures taken 
 to leflen it, ought to be dreaded '. In fad, the great fuccefs which has 
 uniformly attended the arms of Great Britain, when its affairs have 
 been wifely and prudently conducted, has been entirely owing to the 
 eafe with which any fum, however great, could be procured for the 
 public fervice. 
 
 Indeed, when money can be raifed without difficulty, the greateft 
 exertions may be made with the highefl probability of fuccefs. No at- 
 tempt is rendered fruitlefs, from the inability of fending force fufficient 
 to atchieve the enterprife. Pinto's obfervations upon this head are 
 conclufive. " If a nation (he remarks) is able to raife only two thirds 
 " of the money which any particular fervice demands, thofe two thirds 
 *' will probably be thrown away. If the Englifti, for inftance, had 
 " fent a fleet and army, weaker by one third than it was, to conquer 
 *' the Havanna, the expedition would not only have mifcarried, and 
 *' the whole expence would have been loft, but that lofs would have 
 *' occafioned many others. Inftead of the treafure, and other advan- 
 *' tages produced by their fuccefs, every circumftance would have been 
 *' inverted *." By the magic of public credit, fleets are equipped, and 
 armies are levied, with an expedition almoft incredible ; and Pompey's 
 boaft, that he could raife fo many legions by only ftamping with his 
 foot, is completely verified '. 
 
 It is even acknowledged by a refpedable Writer, who is no friend 
 to the funding fyftem, that when money is borrowed to defray the ex- 
 pences of a war, the private revenue of individuals is neceffarily lefs 
 burdened, than if the fupplies were raifed within the year ; and confe- 
 quently they are better enabled, at leaft whilft the war continues, to fave 
 and accumulate fome part of their revenue into capital, and by their 
 
 3 The Queiift, N° 233, 234. 
 
 * Eflay on Circulation and Credit, p. 41. The tranflation by Mr. Baggs is referred 
 to on account of the valuable Notes which it contains. 
 5 See Mortimet's Elements of Finance, p. 364, 365. 
 
 [C] 2 frugality
 
 2pr HISTORY OF THE PUBLIC REVENUE 
 
 frugality and induftry, to repair the breaches which the wafte and ex- 
 travagance of government may bccafionally make in the general capital 
 of the State *. 
 
 But there are other advantages rcfulting from the funding fyflem, 
 which it may be proper here to mention. 
 
 If fupplies were raifed within the year, and the expences of war were 
 confiderable, every individual would be obliged, in confequence of the 
 additional weight of his contributions, greatly to curtail his expences ; 
 and the employment of the poor, and the confumption of the rich, 
 would be confiderably diminifhed. Whereas, when taxes are nearly 
 equal,, in times of peace and war (which can only be the cafe where 
 • the fyftem of funding is adopted), the value of every fpecies of pro- 
 
 perty, the mafs of national induftry, and the circulation of national 
 wealth, are maintained on as regular, fteady, and uniform a footing, as 
 the uncertainty and inftability of human affaifs will admit '. Indeed, 
 before public credit is carried to too great a height, a war maintained 
 by national loans and taxes, may be accounted even an advantage to 
 the State. It is of fervice to the poor, becaufe the price of their labour 
 increafes with the greater demand for labourers ; it is of ufe to the rich, 
 for the greater occafion there is for money, the greater is the profit of 
 
 6 Smith's Wealth of Nations, vol. ii. p. 558. To iiluftrate this point, let us fuppofe, 
 that during a period of thirty years, we were to have twenty years of peace, and ten years 
 of war ; for the carrying on of which, ten millions of extraordinary fupplies muft annually 
 be raifed. Is it moft for the public advantage, to levy the ten millions every year during 
 the war, and pay nothing during peace ; or to raife the money by loans, and pay an equal 
 fhare of the expence in time of peace, as well as in time of war? If a common carrier 
 has ten hundred weight to remove, is it not better for him, inftead of putting it at once 
 upon his horfe's back, gradually to remove it ? In the fame manner, when a State, for 
 its fafety and proteflion, is obliged to make great exertions, and to load itfelf with heavy 
 burdens, is it not preferable, by fpreading and extending the load, to render it as light as 
 poflible ? See Letter to a Member of the Houfe of Commons, p. 27. 
 
 ■' See Gale on Public Credit, part i. feft. 3. Nay, this intelligent Author contends, 
 that borrowing money is not only the moft convenient method of raifing extraordinary 
 fupplies, but is alfo produflive of an aflual faving to the State. But his arguments in fup- 
 port of fuch a pofition are obfcure, and are not juftified by recent experience. Befides, he 
 does not take into his confideration, the charges of management, nor the heavy expence 
 of colle£ling the revenue neceflary to defray the intereft of a public debt, nor the com- 
 mercial difadvantages with which taxes are accompanied ; and particularly forgets, that 
 duties on confumption, which muft at laft be reforted to, take confidetably more out of 
 the packets of the public, than comes into the exchequer. 
 
 7 thofe
 
 OF THE BRITISH EMPIRE. 2< 
 
 thofe who ha^:e money to lay out : and foreign wars, though unavoid- 
 ably attended with many private calamities, yet generally put an end 
 to public difcord, and free the country of a number of turbulent and 
 vicious charadlers, who are a pefl to fociety ^ 
 
 Among the advantages of the funding fyftem there is none which 2. Attrafta 
 its friends have fo highly extolled, and its enemies have fo loudly re- Xoad. ^°'* 
 probated, as its tendency to attradl money from foreign countries, and 
 the confequences with which that circumftance is attended. It may 
 perhaps, be of fervice to a State at war, to be able to draw fome re- 
 fources from other nations ; and the want of fuch aid (as Pinto ob- 
 ferv-^es) might have checked and enfeebled all our military operations. 
 Perhaps, alfo, the Bank of England, and the Eaft-India Company, the 
 eftablifliment of which has added fo much to the wealth and commerce of 
 this country, could not have been eredted, or carried on with fuch 
 effedl, from the low ftate of the trade and refources of England at that 
 time, if it had not been for the afliftance they originally received from 
 foreigners : and perhaps, fo great is the amount of our public debts at 
 prefent, that the quantity far exceeds our confumption or demand at 
 home ; and our funds could hardly be kept up at any tolerable price, 
 "without foreign purchafers '. At the fame time, whether foreign pro- 
 perty in our funds, ought to be accounted of public detriment or ad- 
 vantage, is perhaps the moft difficult queftion of any connefted with 
 the funding fyftem. 
 
 I am apprifed of what a very intelligent author has faid, " That the 
 trading fubjeds of this kingdom, from the Farmer to the Merchant, 
 make upon an average upwards of ten per cent, per cmmnn^ of the 
 " money borrowed from foreigners, by our government, at little more than 
 *' four ; and thence, that a profit arifes of nearly fix per cent, to enable 
 " the people to bear the burden of an increafe of taxes, and to give 
 *' them a frefh contributive faculty of fubfcribing to new loans "." But 
 it muft be acknowledged, that if the money borrowed is immediately 
 wafted in foreign expeditions, and never comes into the circulation of 
 
 * Ramfay's Eflay on the Conftitution of England, p. 70. Letter to a Member of the 
 Houfe of Commons, p. 28. 
 
 ' Eflay on Credit, p. 9. alfo p. 35. 
 
 '" Mortimer's Elements of Finances, p. 386. edit. 17721 See alfo Hope's Letters 
 cn Credit, p. 21. 30, 31. 
 
 the 
 
 ic
 
 82 HISTORY OF THE PUBLIC REVENUE 
 
 the country, the nation that borrows, paysinterefl to foreigners for a 
 fum of money, without reaping from it any folid advantage. The only 
 benefit it can poffibly produce is, that it renders it unnecefTary to raife 
 the money at home, by which the commerce and circulation of the 
 country would probably be injured ". 
 
 At the fame time, it is proper to obferve, that when foreigners are 
 admitted into the public funds of a country, they become naturally in- 
 tcrefled in promoting its happinefs and profperity. " \Yhere their trea- 
 *' fure is, there will their hearts be alfo." And not only many wealthy 
 individuals who are born in other countries, are gradually led to con- 
 fider the State in which their property is fettled, as their home, 
 and thence are induced to come and refide in it ; but if any great re- 
 volution, or a long feries of deflrudlive hoftilities were to take place 
 on the Continent (from which we might be happily exempted in con- 
 fequence of our infular fituation), the greater part of our foreign cre- 
 ditors might find it equally necefTary and defirable, to fhelter themfelves 
 in England from the ftorm, and this coimtry would receive a valuable 
 addition to its population and wealth '*. 
 J. Keeps The public debts of a nation not only attradt riches from abroad, 
 
 Bioney at with a fpccics of magnetic influence, but they alfo retain money at 
 home, which otherwife would be exported, and which, if fent to other 
 countries, might poflibly be attended with pernicious confequences to 
 the State whofe wealth was carried out of it. If France, for example, 
 maintained its wars by borrowing money, and England raifed all its 
 fupplies within the year, the neceflary confequence would be, that all 
 the loofe and unemployed money of England, inftead of remaining 
 here, expofed to the chance of being taken up by a government, who 
 gave no intereft in return for the ufe of it, would naturally be tranf- 
 mitted to France, where it could be placed out to advantage. It is 
 well known, that the profped of high intereft has tempted many un- 
 worthy Englifhmen, to inveft their property in the funds of that king- 
 dom : and we may judge from thence, what would be the cafe, if the 
 funds of England were not in exiftence. In every State, however 
 poor, laws are enaded to prevent the exportation of its fpecie, and 
 
 " See Eflay on Circulation, p. 35. Note. 
 
 "■ For many excellent obfervations on this part of the fubjeft, fee Sir James Stewart's 
 Inquiry into the Principles of Political Oeconomy, vol. ii. p. 442, 443. 450, 451. 462, 
 
 4635 464- 
 
 the
 
 OF THE BRITISH EMPIRE. aj 
 
 the diminution of its circulating wealth. But the eftablifhment of 
 public debts is the moft likely means to hinder it. For none but 
 profligate ufurers would think of fending their property into another 
 country, to fupport the credit and confequence of a foreign, and per- 
 haps an inimical power, when it is pofTible to lay it out at home, with 
 any tolerable advantage. 
 
 Public debts are particularly favourable to circulation. The taxes 4- Brings 
 
 r r ' money into 
 
 which they occaiion upon the property of the rich, and the encourage- circulation, 
 ments which they hold forth to the avaricious, prevent the accumula- 
 tion of private hoards, and bring the whole money, and perfonal pro- 
 perty of a country, into the market. The beneficial confequences re- 
 fulting from fuch a circumflance are well known. Unlefs the property 
 of a nation circulates, it is of no real ufe to the community. Trea- 
 fures concealed and hoarded up, might as well ftill remain in the 
 bowels of the earth, for any benefit they yield to the public. 
 
 We are told, that Eumenes king of Pergamus, one of the ableft 5- Attaches ^ 
 ftatefmen of antiquity, finding that he had reafon to diflrufl: fome of govern, 
 his officers, borrowed money of them, with a view of infuring their '"^"' 
 fidelity ; as they might eafily perceive, that they flood no chance of 
 being repaid, if by their treachery his ruin was effected : and it is faid, 
 that Bifhop Burnet, whh fimilar views, advifed William III. to run 
 the nation into debt, in order to fecure the fupport of the wealthicft 
 individuals in the kingdom '^ But it is probable, that the debts con- 
 traded at the Revolution, were more owing to the diftreffes of the times, 
 and the difficulty of raifing the neceffary fupplies within the year, with- 
 out burdening the people, than to any political motives. When once 
 debts, however, are incurred, it is evident that every individual creditor is 
 led by his own interefi: to fupport the government, on the profperity and 
 exlftence of which the fecurity of his property depends ; and whoever con- 
 fiders for a moment, the many calamities with which revolutions are ac- 
 companied, will not probably regret, that an additional circumftance 
 fliould take place, which contributes to confirm the ftability, and to pro- 
 long the exiftence of an eftabliflied government, whilft it is conduded 
 with fufficient attention to the rights and happinefs of the people. 
 
 •^ Swift's Hiftory of the Four laft Years of the Reign of Queen Anne, edit. 1758. 
 p. 158. 
 
 Tha
 
 H 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 6. Encou- The facility with which individuals, in a country where public debts 
 
 merce and cxilt, can lay out the property they have acquired by their labour or 
 induftr/. ingenuity, without the rifk of commercial bankruptcies, or the una- 
 voidable expences and fraall profit which landed eftates yield, and 
 witliout even abandoning their profeflions, is no fmall encouragement 
 to induftry. To a cert^ain extent therefore, fuch public fecurities are 
 highly ufeful to a trading people '*. It encourages a fet of men, de- 
 fcribed by Hume, as half merchants, and half flock-holders, who are 
 ' able to carry on trade without great pecuniary advantages ; becaufe 
 commerce is not their principal or fole fupport, their property in the 
 funds being a fure refource for themfelves and their families. " And 
 ** the fmall profit which fuch merchants require, when compared to 
 " what otherwife would be neceffary, renders their commodities 
 . *' cheaper, caufes a greater confumpticn, quickens the labour of the 
 *' common people, and helps to fpread arts and induftry throughout the 
 *' whole fociety "." 
 ' Nay, Pinto is fo enraptured with the funding fyftem as to contend, 
 
 that every new loan creates a new artificial capital, which did not before 
 exift, which becomes permanent, fixed, and folid, and circulates with 
 , as much advantage to the public, as if fo much real additional trea- 
 JTure had enriched the kingdom '\ And another author roundly afferts, 
 that if our national incumbrances were paid off, we fhould be obliged 
 to run ourfelves again, as faft as poffible, into debt ; in order to recover 
 our trade, our happinefs, and our profperity '^ But fuch a whimfical 
 mode of coining wealth, of amaffing treafure, or of infuring the pro- 
 fperity of a nation, no wife State will probably much depend on. 
 
 Such are the advantages which are commonly enumerated, as con- 
 nefted with the funding fyftem j and fo beneficial do they appear, that 
 
 "+ Bldckftone's Commentaries, vol. i. p. 328. 
 
 '5 Hume's EfTays, vol. i. p. 366, and 367. The whole paflage is admirable, and 
 ought to be carefully examined. 
 
 " The national debt is as much a real pofleflion, as any property in filver or in gold. 
 Its value is founded on the opinion of mankind, and on the difRculty of its acquifition, 
 which alone make gold and filver of more eftimation thaa copper or tin. Hope's Letters 
 on Credit, p. 19. 
 
 ■' Reflexions on the National Debt, by J. Champion. See fuch ideas refuted. 
 Smith's Wealth of Nations, p, 556. 
 
 one
 
 OF THE BRITISH EMPIRE. 25 
 
 one author, who has carefully invefligated the fubject, calls It a mafler- 
 piece of human policy '^; and another compares it to that fpecies of 
 inundation, which carries riches and fertility, as well as terror, along 
 with it ''. Let us next examine the arguments adduced by thofe who 
 confider it in a very different point of view. 
 
 III. Difad vantages of the Funding Syftem. 
 
 It is difficult to arrange the numerous arguments, which, in various 
 languages, and from authors almoft innumerable, have at different 
 times been thrown out, to prove the dangerous confequences, and in- 
 deed inevitable ruin, which neceflarily attend public debts, when car- 
 ried to any height. It is propofed, however, to Inveftigate with as 
 much brevity as poffible, i. The difadvantages attending this mode 
 of procuring money in cafes of emergency. 2. The pernicious confe- 
 quences refulting from public debts, whilft they remain unpaid : and 
 3. How far they have a deflrudlive tendency to increafe and accu- 
 mulate. 
 
 The poflfeffion of unbounded credit, like the accumulation of an i- Dlfad- 
 immenfe treafure, Is too apt to make a nation Inclined to engage in public credit. 
 rafh and dangerous enterprifes ; and a State that can borrow fifty, or, 
 if neceffary, even a hundred millions, in the courfe of a war, thinks 
 itfelf entitled to become an umpiix among furrounding nations, and 
 readily draws its fword upon every trifling occafion. Hence debts are 
 often contracted, not in fupport of meafures advantageous to the pub- 
 lic, but in ridiculous quarrels, to gratify the humour of a headftrong 
 populace, or to carry on the vifionary projects, of the fovereign, or his 
 minifters. " It is fcarcely more imprudent (fays Hume) to give a 
 " prodigal fon a credit in every banker's fhop in London, than to em- 
 *' power a flatefman to draw bills in this manner upon pofterity '"." 
 Nay, this is a difadvantage attending the funding fyftem, v/hich its 
 warmeft advocate is under the necefTity of acknowledging ". 
 
 When a nation alfo borrows money, it is generally in a ftate of dif- 
 trefs, and muft fubmit to any terms which the money-lender thinks 
 
 " Elements of Fiirances, p. 378. '' EfTay on Public Credit, pref. p. 6. 
 
 ^^ Effays, vol. i. p. 365. See alfo Reynal, vol. iv, p. 453. 
 ^' ElTay on Credit, p. 107, io8. 
 
 [D] proper
 
 26 HISTORY OF THE PUBLIC REVENUE 
 
 proper to impofe. That unhappy fituation, the creditor uniformly 
 takes advantage of, to make the public pay dear for the affiftance it 
 receives. 
 
 " H'nic ufura vorax^ avidumque in tempore f anus ^ 
 " Hinc concujfa fides ^ l^ niultis utile bellum'^^y 
 Nay, if hoftilities are not carried on to maintain the efTential inte- 
 refts, or to preferve the very exiftence of a nation, it is no undefirable 
 circumftance, that the public fhould feel the pecuniary calamities of 
 Vi'ar, fo as to render it defirous of peace, when reafonable terms can 
 be obtained. When money however can eafily be procured, and the 
 nation is only loaded with an annuity to pay the intereft of the debt 
 that is incurred, war is a paftime to the people, which they are not 
 defirous of giving up, whilft they are occafionally favoured with Extra- 
 ordinary Gazettes, announcing the vidorles gained by their fleets and 
 armies, and celebrating the valour of their troops, and the condu(St of 
 their commanders ''^ 
 2. Pernicious But if it were allowed that a nation, when it contrails public debts, 
 ©rpubH^c""' may reap confiderable benefit by expending the money that it borrows, 
 debts whilft jpj wcll-judgcd and fuccefsful enterprifes; yet It is evident that fuch in- 
 nn^aid!"^'" cumbrances muft be attended with confiderable difadvantages, whilft 
 they remain unpaid. 
 
 1. The income neceflary to pay the Intereft of a public debt. Is a 
 heavy burden upon the wealth and induftry of a nation. The addi- 
 tional taxes, which it gives rife to, neceftarily occafion an increafe in the 
 price of all the necelTiiries of life, and renders it more difficult for the 
 manufadurers of a mortgaged State, to carry on a fuccefsful competition 
 with the fubjeds of other powers, who may happen to be in a lefs em- 
 barrafled fituation ; and it is well known, that the ruin of the manufac- 
 turers of Holland, Is unlverfally attributed to the weight of taxes, which 
 the public debt of that country has entailed upon it. Nay, what fome 
 authors confider as the moft obnoxious of all the public evils, confequent 
 to the funding fyftem, is, that the adive and induftrious fubjedl fhould 
 thus be loaded with heavy burdens, to maintain the ufelefs and indo- 
 lent creditor in luxury and fplendour ''*. 
 
 »» Lucan, 1. i. v. j8i. "^ Wealth of Nations, vol. ii. p. 550, 551. 558, 559. 
 
 »♦ L'Efprit des Loix, 1. xxii. c. 17. Blackft. Comm. vol. i. p. 329. Hume's Eflays, 
 vol. i. p. 368. Reynal, vol. iv. p. 454. 
 
 2. Public
 
 OF THE BRITISH EMPHIE. 27 
 
 2. Public debts have alfo a tendency to promote idlenefs and immo- 
 rality among the people at large. The money neceflary to pay the 
 intereft of fuch incumbrances cannot be raifed, unlefs the legiflaturc 
 encourages, or at leaft winks at, immoderate expences in all the diffe- 
 rent ranks of the people. A large and voluptuous capital is therefore 
 fuffered to increafe, and meets with every poffible encouragement, not- 
 withftanding its tendency to corrupt the manners, and to diminifh the 
 numbers of the people. But every obje£l of that nature, however im- 
 portant, muft be facrificed for the benefit of the revenue *'. 
 
 3. When a nation is encumbered with debts, a pernicious fpirit of 
 gambling is introduced. Stock-jobbing, with all its train of dangerous 
 confequences, neceffarily arifes: A monied intereft is eredled, the fole 
 employment of which, is that of drawing every poffible advantage, from 
 the wants of individuals, or the necelTities of the public : felfifli and inte- 
 refted principles fpread their deftrudtive influence far and wide : pub- 
 lic fpirit either ceafes to exift, or becomes the object of ridicule ". 
 
 Indeed, ftock-jobbing is faid to be a neceflary confequence of the 
 funding fyftem, without which the public could not borrow fuch large 
 fums of money as may be neceflary for the enterprifes it has in view "" ; 
 and unfortunately, to a certain extent, that circumftance muft be admit- 
 ted. It is the hope of great advantage (and without gambling, much 
 profit could not be acquired) which engages individuals to fubfcribe to 
 new loans, and colleds together the immenfe fums of money which 
 are necefl^ary for that purpofe. The practice is at the fame time at- 
 tended with fo much real injury to individuals, that no advantage can 
 compenfate for the mifchiefs which it produces ". 
 
 4. But a nation is not only heavily burdened, to defray the intereft 
 of its debts, but is alfo obliged to maintain a number of officers to 
 colledl fuch branches of the revenue as are appropriated to that purpofe, 
 and to defray the expences, with which the conducing or management 
 
 ^5 Hume's EfTays, vol. i. p. 367, 36S, 369. Reynal, vol. iv. p. 454.. L'Efprit des 
 Loix, 1. xxii. c. 17. Enquiry into the original of the Public Debt, p. 12. 
 
 ^' Original of Public Debt, p. 13, 14. 
 '' Eflay on Public Credit, p. 37, 38. 
 
 " See this fubje»S fully and ably difcufled, in Mortimer's Elements of Finances, 
 P-374- 392- 
 
 [D] 2 of
 
 aS HISTORY OF THE PUBLIC REVENUE 
 
 of public funds is attended. And in a limited monarchy, like that of 
 England, fuch a circumftance is peculiarly injurious; for the creation 
 of a number of places, and the entertaining a whole hoft of officers of 
 the revenue, has a tendency to produce very important alterations in 
 the nature of its government "'. 
 
 5. If public debts attrat^: money from abroad, they are alfo attended 
 with the pernicious confequence of rendering one State in a manner 
 tributary to another. It is fuppofed that foreigners are at prefent pof- 
 felTed of about a ninth part of the national debt of England, and con- 
 fequently muft receive about a million a year from this countiy. If 
 we were obliged (as one author very ingenioiifly remarks) to pay a tri- 
 bute of that amount to France, or to any other foreign State, every 
 perfon would declare, that the nation muft infallibly be undone j yet, 
 the tribute paid to foreign creditors, is at prefent on a footing infinitely 
 more pernicious ^° : for it is impofTible to get clear of it, unlefs by a 
 public bankruptcy, or by paying above thirty years purchafe to the fo- 
 reign annuitants ; a fum fully equal to the whole fpecie that circulates 
 in the nation ". But the experience of England does not tend to juflify 
 fuch political fpeculations ; and there is flill fome reafon to hope, that 
 permitting foreigners to acquire property in our funds, inflead of 
 proving the means of tranfporting our people and our induftry to other 
 climes, as Hume fo much apprehended", may be produdive of very 
 oppofite confequences, and may yet increafe the wealth and population 
 of this country. 
 
 Laftly, When public debts are carried to a great height, they tend to 
 weaken the nation by which they are incurred. Wars, though per- 
 haps neceflary for the fafety of a State, muft be avoided; for the re- 
 fources by which they ought to be carried on, are already fpent. Among 
 
 the other caufes therefore of national ruin, the practice of funding is 
 i 
 
 »' Blackft. Comm. vol. i. p. 336. Elements of Finance, p. 373. 38-', 388. Ori- 
 ginal of the National Debt, p. 15. 
 
 " See Original of the Public Debt, p. 17. Blackft. Comm. vol. i. p. ^29. L'Efprit 
 des Loix, 1. xxii. c. 17. 
 
 3' Reynal (vol. iv. p. 452.) fays, that borrowing money from foreigners, is in fafl, 
 fellino' to them one or more of the provinces of the empire: and declares, that perhaps it 
 would be a more rational praclicc to deliver up the foil, than to cultivate it folely for their ufe. 
 
 s» EfTays, vol. i. p. 369. 
 
 8 enumerated,
 
 OF THE BRITISH EMPIRE. 29 
 
 eni:merared, as, Iboner or later, the fource of weaknefs and defolation 
 to every State where it has been adopted '^ 
 
 Every political fyftem may in two refpefts be highly exceptionable. 3- Tendency 
 It may either be founded on improper principles in itfelf, or it may have andaccumu- 
 a ftrongand natural tendency to be perverted. To the latter objedion, '*'^ 
 it can hardly be denied, that public debts are particularly expofed. 
 
 In fadt, not an inftance can be produced from hiftory, of any nation 
 having once begun to run itfelf into debt, that the burden was not per- 
 petually increaling. No confiderable progrefs was ever made, except- 
 ing in France, under Sully's adminiftration, in diminifhing fuch incum- 
 brances. The fame want of public zeal (which perhaps was the occafion 
 of a national debt being originally contradled) renders it popular to 
 defer taking any manly and decifive meafures, for the liberation of the 
 revenue. Ttie parties principally interefted, become every day more 
 callous and infenfible to the dangers they are likely to encounter, or 
 are ignorant how deeply they are concerned in preventing fuch delays. 
 The creditor is in general fatished, with having his intereft pundually 
 paid him ; and at any rate is not entitled to demand the capital of his 
 debt. The minifter, happy to be relieved from the moft obnoxious of 
 all duties (that of adding to the burdens of the people in time of peace), 
 employs his thoughts in concerting the means of preferving his own 
 power, and of humbling his opponents, regardlefs of the immortal 
 reputation he might acquire, by purfuing a different fyftem ; vvhilft the 
 public at large, loaded with accumulated burdens, hating the paft, and 
 dreading the future; without zeal, and v;ithout fpirit, prone to lloth, 
 and incapable of exertion, fufFer matters to go on as they are, neither 
 knowing what to hope, or what to fear. 
 
 Such are the principal objedlions which have been urged againft the Reflexiont, 
 funding fyftem ; a general view of which, colledled from the principal 
 authors who have written upon the fubjedl, it was imagined, would not 
 prove difagreeable to the reader. Many have been fo ftrongly imprefled 
 with the folidity of thefe arguments, that a thoufand prophecies have 
 been made, that our debts would prove the utter ruin of this country ; 
 
 " Fergufon's EfTay on Civil Society, p. 389. Smith's Wealth of Nations, vol. ii. 
 p. 363, 364. Hume's Eflays, vol-, i. p. 369. 372. Blackft. Comm. vol. i. p. 329. 
 
 that
 
 5© HISTORY OF THE PUBLIC REVENUE 
 
 that a hundred millions was a greater burden than it could poiTihly bear ; 
 and that the nation muft either deftroy its debts, or its debts would de- 
 ftroy the nation. Notwithftanding all thefe gloomy predi£tions, it is 
 evident, that the nation ftill remains in a flourifliing fituation; and 
 confequently, that our national incumbrances are not quite lb deftruc- 
 tive as they have fometimes been reprefented. But the funding fyftem, 
 on its prefent footing, is doubtlefs attended with many fatal con- 
 fequences. It is a queftion therefore cf confiderable importance, whe- 
 ther a plan of borrowing money might not be formed, liable to no ma- 
 terial objedtion, produdive of many public advantages, and capable of 
 exalting a nation to the greateft degree of happinefs and profperity. 
 With a few obfervations upon that fubje<rt, it is propofed to conclude- 
 the prefent Chapter. 
 
 IV. Plan of eftablifhing the Funding Syftem on the moft 
 beneficial Principles for a Nation. 
 
 When a nation refolves to defray its extraordinary expences by bor- 
 rowing money, it ought to fet out upon certain fixed and unalterable 
 principles, confirmed in the moft folemn manner by the whole legifla- 
 ture, and from which it ought never to depart. 
 
 I. The firft principle that the public ought to eftablifli, is never to be- 
 come bound to pay an iota more, than the fpecific principal fum which 
 it originally borrowed. Adding an artificial to a real capital, or pledging 
 the public to pay a hundred pounds, when perhaps only fixty were re- 
 ceived, is the moft pernicious of all financial operations ; and any mi- 
 nifter that propofed fuch a plan in Parliament, ought to be made liable 
 to impeachment. It will probably be alledged, that it may be found 
 impoffible to borrow money, without giving the creditor that ulurious 
 advantage. That objection, however, ought not to be regarded. For 
 ■when the money-lender knows, that every other plan is contrary to an 
 eftablifhed law, which cannot fafely be infringed, his ideas will be rer 
 gulated accordingly, and the difference will be made up by premiums, 
 or, in the language of the Alley, by an additional bonus or douceur^ on 
 principles lefs pernicious to the public. Indeed, if money cannot be 
 borrowed in fuch a manner, it is a fign, either that the minifter is de- 
 
 fervedly
 
 OF THE BRITISH EMPIRE. 31 
 
 fervedly unpopular, or that the war is unneceflary, and confequently 
 ought not to be perfevered in. 
 
 This rule, if invariably adhered to, will for ever prevent the accu- 
 mulation of a great artificial capital, which terrifies the imaginations of 
 mankind, deprefTes the fpirit of the people, diminillies their credit, and 
 confequently impairs their ftrength. 
 
 2. It ought alfo to be an unalterable law of the land, that after the 
 creditor has received the intereft originally agreed upon, for the fpace of 
 five, or at the utmoft feven years, it fhall be in the power of the public 
 to pay him off, if money can be borrowed for that purpofe at a lower 
 intereft. This principle, if rigoroufly attended to, will gradually occa- 
 fion a great diminution in the intereft of public debts. England, at this 
 time, pays only three per cent, for money that was originally borrowed 
 at eight; and where artificial capitals do not obftrud: fuch a meafure, 
 a nation can always borrow, in time of peace, at a cheaper rate, than in 
 time of war, and thus the weight of its debts may be perpetually dimi- 
 nifhed '\ 
 
 3. A State determined to carry on its wars, by the funding fyftem, 
 ought never to borrow money upon any other principle, than that of 
 perpetual annuities. All long and fhort annuities, and annuities for 
 lives, whether tontines or otherwife, ought to be avoided. They breed 
 confufion in the public accounts; they occafion a great additional ex- 
 pence for management ; and the money that is borrowed, is procured 
 upon terms infinitely more difadvantageous to the public. Whether, 
 in time of peace, fome money might not be raifed, in a favourable man- 
 ner, upon life annuities, is queftionable ; but, there can be no doubt 
 that, in time of war, it is impoft!ible for the public to make any tole- 
 rable bargain with money-lenders, founded on any uncertain con- 
 tingency. 
 
 3+ It is well known, that the Intereft of money is perpetually decreafing, with the in- 
 creafing wealth and commerce of a country, and of that circumftance the public is par- 
 ticularly able to avail itfelf : For when it regularly and punftually pays the intereft of its 
 debts, it can always borrow in time of peace on better terms than private individuals, on 
 account of the greater eafe and certainty with which the intereft of its annuities are re- 
 ceived, particularly by thofe who reilde in the capital. 
 
 It is alfo proper to remark, that diminiftiing the intereft is not fufficient. It is alfo 
 neceflary to leffen the capital, by feafonable and well-conducted operations, 
 
 Befides,
 
 .^2 HISTORY OF THE PUBLIC REVENUE 
 
 Befides, whatever may be faid in regard to calculations in the Alley, 
 that an annuity for a hundred years, is equal to a perpetuity; yet, as 
 Dr. Smith well obferves, thofe who buy into the public flocks, in order 
 to make family fettlements, or to provide for remote futurity, (and 
 they are the principal buyers and holders of ftock) and corporations of 
 ■every kind, are not fond of buying into a fund, the value of which is per- 
 petually diminifhing. And though the intrinfic worth of an annuity for 
 a long term of years, is nearly the fame with that of a perpetual annuity, 
 yet it is not fo valuable in the market, is never fo much in requeft, and 
 does not find the fame number of purchafers ". 
 
 Indeed, if a nation is determined to perfevere in the funding fyftem, 
 the wifefl and moft politic ftep it can poffibly take, is to adopt that 
 mode of procuring money, which is the moft likely to be the cheapeft 
 and moft advantageous in the courfe of ages. It may flatter itfelf, that 
 when it borrows upon fhort or long annuities, it will reap confiderable 
 advantages, when fuch annuities are extinguiflied. But it ought at the 
 iiime time to remember, that before the annuities can ceafe, more 
 money, in all probability, muft be railed ; and if the fame unprofitable 
 fyftem is adhered to, the nation will always be borrowing money upon 
 difadvantageous terms. 
 
 4. The eftablilhraent of an unalienable finking fund, for the redemp- 
 tion of public debts, is another principle, which, in a State, where it is 
 propofed to perfevere in the funding fyftem, cannot poflibly be difpenfed 
 with ; and fuch a fund ought to arife, not from any little furplus of 
 revenue, or the increafing produce of particular branches, but (hould be 
 founded on fome great, folid, and produdlive tax, proportioned as much 
 as poffible to the wealth of the nation, and the debts it has incun-ed. 
 For that purpofe, no plan would be fo effedual, as a permanent regula- 
 tion, by which every individual, having property in England, whether 
 natives or foreigners, was under the neceffity of leaving to the public, at 
 leaft one half of his clear annual income in this country, at the time of his 
 death. No teftament ought to be valid, without fuch a bequeft; and 
 if any perfon died inteftate, a year's income fliould be exacted. A re- 
 venue of this kind, would always keep the debts of a nation within mo- 
 derate bounds, and could hardly be evaded. 
 
 3J Wealth of Nations, vol. ii. p. 547. 
 
 5. The
 
 OF THE BRITISH EMPIRE. 3j 
 
 5. The care of fuch an unalienable finking fund, fhould be entrufted 
 to individuals peculiarly refponfible for its fuccefs. A fpecial commif- 
 fion fhould be appointed for that purpofe alone. A different fet of in- 
 dividuals fhould be pitched upon to pay off public debts, from thofe by 
 whom they are contradled, and the progrefs made in difcharging the 
 incumbrances of a nation, ought never to be fo involved with other 
 operations of finance, as to become imperceptible to the eye of the 
 public. 
 
 6. Every mean fhould be adopted that might have a tendency to en- 
 courage individuals, when they had no near relations, to leave their 
 fortune and property to the public. The effeds of fuch a meafure, particu- 
 larly in wealthy and commercial nations, would be almoR incredible. But 
 this isafubjedl, which will afterwards require to be more fully invefli- 
 gated. At prefent it is fufEcient to remark, that if fuch a fpirit had 
 been encouraged when our debts were originally contracted, and par- 
 ticularly if thofe fums had been left to the State, invariably appropri- 
 ated, and accumuluted at compound interefl:, which were bequeathed 
 to other public purpofes of lefs general utility, no inconfiderable fliare 
 of our prefent immenfe incumbrances would have been long fmce 
 cancelled. 
 
 Laflly, peculiar checks, and additional fecurities, ought to be con- 
 trived, to prevent the wafle of the money that is borrowed^*. It is the 
 abufe of the funding fyflem ; the fraudulent pradices, and fhameful 
 profufion of thofe who are entrufled wuth the guardianfhip of the 
 public purfe, which occafion confufion and diftrefs in the finances of a 
 country. Pinto afferts, that the Englifh might have done as much 
 during all their wars, with one third lefs expence". This is undoubt- 
 edly exaggerated. But no one can poffibly deny, that if effedual fleps 
 had been taken at the Revolution, to check public frauds, and if the 
 fame mcafures had ever fmce been perfevered in, a confiderable portion of 
 our public debts would have been prevented. 
 
 3* The beft check undoubtedly would be, to order fuch money to be paid to par- 
 Kamentary commiflioners, according to an ancient praflice in this country. Such com- 
 miffioners ought to have the whole charge of borrowing and expending the money. The 
 confequences of trufting fuch powers to a minifter, muft ever be ruinous, 
 
 3' Eflay on Credit, p. 107. 
 
 [E] Thefe
 
 34 HISTORY OF THE PUBLIC REVENUE 
 
 Conclufion. Thefe are the principles on which public debts may, in general, be 
 fafely contraded, and which, if fteadily adhered to, would always pre- 
 vent the funding fyftem from becoming burdenfome, or ruinous to a 
 State. Nor ought the inveftigation of fuch a fubjesS: to be accounted 
 ufelefs to this country. For though our principal obje£t, at this time, 
 ought to be, how to overcome the difficulties in which we are involved 
 from paft mifcondu(3:, yet an invariable plan of borrowing money for 
 public fervices, in time to come, fhould be formed without delay ; and 
 indeed our prefent incumbrances ought, if poffible, to be reduced within 
 the bounds of fuch permanent regulations, as the abilities of our ftatef- 
 men, and the wifdom of our legiflature, may deem moft conducive to 
 the intereft of the community. 
 
 CHAP. III. 
 
 Of the Public Debts of England^ prior to the Revolu^ 
 
 tion 1688. 
 
 THE public debts of a nation, when It is fubjedl to a monarchical 
 form of government, may be confidered in two different points 
 of view: either as the perfonal debts of the fovereign, or as real in- 
 cumbrances on the community. 
 
 A modern French author ' (Monfieur Linguet) contends, that in an 
 abfolute government, like France, the reigning prince has only a 
 temporary intereft in the revenues of the State; and confequently, that 
 it would be not only a prudent and humane, but even a legal operation 
 to annihilate the public debt at the commencement of every reign. 
 But in England, where a limited monarchy exifts, and where the money 
 is borrowed by the reprefentatives of the people, he thinks that the 
 whole kingdom ftands pledged for the fecurity of the contradl, and 
 
 » Linguet, Annal. politiq. du dix huitieme Siecle, tome i. p. 38. 
 
 5 that
 
 OF THE BRITISH EMPIRE. 
 
 3S 
 
 that fuch a meafure would be a difgraceful and criminal bank- 
 ruptcy. 
 
 It is impoffible to perceive, either the juftice of the diftindlon ftated, 
 or the benefit that would refult from it, to an abfolute government. 
 
 As to the juftice of the meafure that is propofed, it is evident that 
 the money is borrowed in both cafes by the legal fovereign, and is fup- 
 pofed to be expended for the public ufes of the State ; and whether 
 the fovereign that enters into fuch pecuniary engagements, is a def- 
 potic monarch, or confifts of many individuals, does not feem to be 
 material. 
 
 With regard to the advantage of fuch a diftlndion, it would foon 
 appear how unferviceable it muft prove. The credit of an abfolute mo- 
 narch, who could only give fecurity to his creditors, during his own 
 .life, would be neceflarily unprodudlve and infignlficant. Indeed fuch a 
 principle would be equivalent to the eftabllfhment of a perpetual Inabi- 
 lity of borrowing money, even in the moil prefling emergency, except 
 on terms the mofl ufurious and deftrudive. 
 
 But the reader will be better enabled to form an opinion on this cu- 
 rious fubjed of political fpeculation, from examining the hiftory of our 
 public debts prior to the Revolution, during which period they were 
 iDnly accounted the perfonal obligations of the fovereign, and weigh- 
 ing the confequences they produced at that time, when put in compa- 
 rifon with thofe pei'petual national incumbrances which have fmce 
 taken place. 
 
 The unfortunate Henry III. is the firft monarch of England whofe Henry III. 
 debts are recorded in hiftory. In the fixteentli year of his reign, they '^^^* 
 had become fo great, that parliament was obliged to grant an aid to aflTift 
 him in paying them off. His pecuniary dlftrefles, however, were perpe- 
 tually increafing, in confequence of his folly and extravagance ; and he 
 in vain endeavoured to relieve them, by pawning the jewels of the 
 crown, his robes of State, and other regal ornaments ; nay, the fhrlnc 
 of St. Edward, though at that time an objedl of particular veneration. 
 Indeed, we are informed by Matthew Paris, that he owed fo much, to 
 fo many different people, for the very neceftarles of life, that he durfl: 
 hardly appear in public for the clamours of his creditors. And other 
 
 [E] 2 hiftorians
 
 36 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 hiftorlans * reprefent him as publicly declaring, that fuch were his diffi- 
 culties, that it was more charitable to give him money, than any beggar 
 at the door. 
 
 Edward I. Henry died confiderably In debt, but his fon Edward I. was induced, 
 
 cither from the generofity of his own difpofition, or from a fuperftitious 
 idea which prevailed at that time, that the foul of the deceafed remained 
 in purgatory until all his debts were paid, to make great exertions in 
 order to difcharge them '. And thofe incumbrances, which the many 
 wars he was engaged in, rendered it neceffary for him to incur % he was 
 always anxious to pay off, as fpeedily as his narrow revenue and fmall 
 refources would permit. 
 
 Edward II. It appears that Edward II. imitated his father's example, in refolving 
 
 to difcharge the debts of his predeceffor; for in the third year of his 
 reign, writs were ifTued to the colledors of the cuftoms, requiring them 
 to pay certain vaft fums of money to his father's creditors, out of the 
 faid cuftoms, and 100,000/. befides, for the lofs and damage they had 
 fuftained, in confequence of the late and flow payment of the money 
 that was due to them'. 
 
 Edward III. The various military expeditions carried on by Edward III. necefl!arily 
 involved him in the greateft difficulties. It is ftated in the very writ 
 
 Anno 1340. by which a parliament was fummoned in the fourteenth year of his 
 reign, that he had borrowed fo much money abroad upon his pcrfonal 
 Jecurity^ that if the fums for which he ftood engaged were not all paid, 
 he was obliged in his own proper perfon to return to Bruflels, and to 
 remain there, as a pledge to his creditors. Compulfive loans were not 
 unufual during his reign*; and pawning the royal jewels, nay the 
 crown of England itfelf, were meafures to which his neceffities com- 
 pelled him. 
 
 Richard II. Richard II. at firft endeavoured to eftabliffi the credit of the crown, 
 
 by exerting himfelf to pay his grandfather's (Edward III.) debts, which" 
 
 * See Stevens's Hiftory of Taxes, pref. p. 31. See alfo Parliamentary Hiftory, vol. i. 
 p. 27, i 8. 44. 
 
 3 In the words of the record, *« ad exonerationem animae Henrici regis, patris noftri.'* 
 
 * See Turner's cafe of the bankers and their creditors, p. 37. 
 5 Cafe of the bankers, p. 20. 
 
 * Parliament. Hift. vol. i. p. 251. 
 
 were
 
 OF THE BRITISH EMPIRE. 57 
 
 were very confiderable. The commons had petitioned the crown for 
 that purpoie, in the fourth year of his reign. They declared, that 
 fuch a payment would be a ftrong encouragement to his Majefty's fub- 
 jeds, to lend him money on any great and unforefeen emergency. 
 The anfwer from the throne was very gracious; the King declaring, 
 that the requefl: had been in a good meafure already fulfilled, and that 
 the remainder fhould be done according to their petition \ 
 
 It was in the reign of this monarch, that the firft attempt was made 
 to raife money by the affiftance of Parliament. A plan had been form- 
 ed of invading France with a formidable army ; but fuch was the po- 
 verty of the exchequer at that time, that it was found impradicable to 
 attempt it, without borrowing money for that purpofe. The King, 
 therefore, had confulted with the principal merchants of London, and 
 of other wealthy towns, about a loan. But fo many of them had 
 fuftained fuch heavy loffes by former loans, that they refufed to lend 
 any confiderable fum of money without the fecurity of Parliament. 
 In order to procure the fandion of that affembly, a Parliament was AnaoisSs. 
 fummoned, and when the commons demanded what fum was neceflary 
 to defray the charges of the intended expedition, they were anfwered 
 fixty thoiif and pounds : even that fmall fum could not be procured. The 
 nobility pretended that they had no money ; but they were willing to 
 ferve the King perfonally in the war. The merchants on the other 
 hand refufed to fupply the King's wants, unlefs they received the moll 
 indifputable fecurity, and unlefs the nobility, clergy, and gentry would 
 furnith him with a confiderable fum without intereft. After an 
 ineffedual attempt to raife the money, by granting foreign merchants 
 the liberty of trafficking in England on eafy terms, the King was unwill- 
 ingly compelled to give up the firft enterprife he had attempted, for the 
 ■want of that inconfiderable fupply '. 
 
 Among the articles for which Richard II. was depofed, his having Henry IV. 
 extorted money imder the pretence of borrowing, which was never 
 repaid, is particularly infifted upon. It is no wonder therefore, that 
 liis fucceifor IhouJd be anxious to avoid following his example 
 
 ' Rot. Pari. vol. iii. p. 96. Num. 45. Cafe of the bankers, p. 17, 
 * Rot. Par), vol. ili. p. 122, 123. Pari. Hift. vol. i. p. 394, 395. 
 2 Rot. Pari. vol. iii. p. 419. 
 
 in
 
 3? HISTORY OF THE PUBLIC REVENUE 
 
 In that particular. Accordingly we find, that in the fixth year of his 
 reign, when the commons prayed, that all tallies given by his' Majefty 
 for money lent to him by his fubjecls, might be fatisfied, according to 
 the true purport of the faid fecurities, notwithftanding any change made 
 in the minifters of State, or officers of the exchequer, the King anfwer- 
 ed, that good payment fhall be forthwith made of the faid debts'". 
 
 Henry V, This gallant monarch did not purchafe his laurels in France, without 
 
 opprefling his people, and involving himfelf in the greateft pecuni- 
 ary difficulties. In the fourth year of his fhort but brilliant reign, his 
 ' wants became particularly preffing; and a Parliament having been 
 called for their relief, a fubfidy of two tenths and two fifteenths (about 
 
 Anno 1416. 60,000/.") was granted by the laity; and two tenths from the clergy. 
 But, as there was reafon to apprehend that the money would come in 
 too flowly for the purpofes of the crown, it was propofed, that fuch 
 as were willing to lend money to the King, fhould have letters patent 
 to be paid out of the firft produce of the fubfidy that was granted ; and 
 the Dukes of Clarence, Bedford, and Gloucefter pledged themfelves 
 to fee this performed, in cafe the King fliould die before the fubfequent 
 feafl of St. Martin's, in the year 1417. Notwithftanding this addi- 
 tional fecurity (which however was only contingent), the nation was 
 either fo poor, or fo little accuftomed to propofals of that nature, that 
 only half a tenth and fifteenth (about 14,500/.) could be raifed; and 
 the King was obliged to pawn the crown, and the royal jewels, to 
 make up the deficiency". Another fubfidy, amountingto about 38,000/. 
 was granted in the feventh year of his reign; the produce of a part of 
 which, the King found means to anticipate with fome difficulty". On 
 the whole, it appears that Henry was not only ill-fupported by the 
 grants of his Englifh fubjeds, but alfo found the utmoft difficulty in 
 borrowing money on the fecurity of the fubfidies which he received. 
 Whereas, had the funding fyftem exifted in his reign, and could 
 wealthy individuals have had full afTurance that their money would be 
 repaid, or an adequate intereft allowed for it, eve7i though the King 
 JJoould die ; it is more than probable, that he would have completed the 
 
 " Cafe of the bankers, p. 17. Rot. Pari, 6 Henry IV. num. 53. vol. iii. p. 555. 
 
 »' 60,000/. was about 116,000 /. of our money. 
 
 »» Rot. Pari. vol. iv. p. 95. Pari. Hift. vol. ii. p« 155. 
 
 »3 Rot. Pari. vol. iv. p. 117. 
 
 conquefl
 
 OF THE BRITISH EMPIRE. 39 
 
 Gonqueft of France before he died. Whether that would have proved 
 of advantage to this country, or otherwife, is a very different queftion. 
 
 During the reign of this weak and unfortunate monarch, the debts Henry VI, 
 of the crown were often brought under the confideration of Parliament. 
 Soon after his acceiTion, letters patent granted to the bifhop of Win- Anno 1425. 
 chefter, entitling him to receive twenty thoufand pounds out of the 
 firft money arifing from the cuftoms, and other revenues of the crown, 
 were confirmed by an a£t of the legiflature; and the council were em- 
 powered by different votes of credit, paffed at various times, to give 
 fecurity to the King's creditors, for fums of money, which varied from 
 50,000/. to 200,000/. according to the amount of the fubfidy that was 
 granted '*. But many of thefe fecurities not being taken up, Henry's 
 debts were perpetually accumulating; and they amounted at lafl to 
 372,000/. fuppofed equal in value to 1,100,000/. of our money". The 
 pecuniary difhculties in which this King was involved, joined to the 
 Ihameful lofsof all the immenfe territories which had been acquired by 
 his father on the Continent, were the great fources of the revolution 
 which afterwards took place in favour of the houfe of York. 
 
 We are told by lord Bacon, in his hiftory of Henry VII, that he Henry VII. 
 often borrowed money of his fubjefts, but pundually paid it back the 
 very day it became due. It was a conflant maxim with him, rather to bor- 
 row too foon, than pay too late. The fums he had in loan, at leafl 
 in the beginning of his reign, were very inconfiderable. At firfl:, he 
 could only procure two thoufand pounds, and afterwards only four, 
 from the city of London. But In order to keep up his credit, he was 
 more anxious to repay fuch inconfiderable debts, than the public is at 
 prefent about diminifhing the many millions which it owes'*. 
 
 In the preceding part of this work, fome account was given of this Henry VIII, 
 monarch's compulfive loans, and other tyrannical exadions" ; and of the 
 a6ts that were paffed, by which the debts he had incurred were dif- 
 charged. The firfl ftatute that was paffed for that purpofe, is not in- 
 cluded ia our printed a£ts of Parliament, but may be feen in Burnet's 
 Hiftory of the Reformation '\ The grounds which are ftatcd in the 
 preamble to the bill, as the caufes of its being enaded, are truly in— 
 
 '* Pari. Hift. vol. ii, p, 195. 217. 222. 233, 241, 245, 249. 262. 
 
 's Ibid, p, 275, 276, 
 
 •6 Bacon's Hift, of Henry VII. edit, 1676. p. 46. 
 
 " See Parti. Chap. 8. " Vol. i. Append. No. 31, 
 
 famous.
 
 40 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Edward VI. 
 
 famous. It is there declared, " That though divers of his fubjeds had 
 *• lent his majelly great fums of money, which had been all well em- 
 *^ ployed in the public fcrvice^ ajidfor the payment of ivhichy the lenders 
 " had his fecurity " yet, in confideration of the great things that the 
 King had done for the church and nation, which had involved him in 
 great expences, the Parliament offered him all the money he had thus re- 
 ceived in loan; difcharged him of the obligations he had come under ; 
 and of all fuits that might arife thereupon". Another a£t of a fimilar 
 nature was pafl'ed in the 35th year of his reign". Fortunately the fta- 
 tute book cannot produce another example of fuch defpotic, arbitrary, 
 and difgraceful proceedings. 
 
 During the reign of Edward VI. it became an ufual pradtice to bor- 
 row money on the Continent; and it appears that he was indebted to 
 banks and to individuals abroad, in the fum of 132,372/. ioj. for which 
 he paid a heavy intereft of 14 per cent. His debts within the realm 
 amounted to 108,807/. 4J. \od, the particulars of which were as 
 follows*': 
 
 • 
 
 
 
 
 
 C' 
 
 s. 
 
 d. 
 
 To the houfehold 
 
 «» 
 
 - 
 
 - 
 
 - 
 
 28,000 
 
 
 
 
 
 To the chambre 
 
 - 
 
 - 
 
 - 
 
 - 
 
 23,000 
 
 
 
 
 
 To the wardrobe 
 
 - 
 
 • 
 
 - 
 
 - 
 
 6075 
 
 18 
 
 
 
 To the ftable 
 
 - 
 
 - 
 
 - 
 
 - 
 
 1000 
 
 
 
 
 
 To th' Admiraltie 
 
 - 
 
 - 
 
 - 
 
 - 
 
 5000 
 
 
 
 
 
 To th' Ordinaunce 
 
 - 
 
 - 
 
 - 
 
 - 
 
 3U4 
 
 7 
 
 10 
 
 To the Surveycr of the Works 
 
 - 
 
 - 
 
 - 
 
 3200 
 
 
 
 
 
 To Galleys 
 
 - 
 
 - 
 
 - 
 
 - 
 
 14000 
 
 
 
 
 
 To Barivyek 
 
 - 
 
 - 
 
 - 
 
 - 
 
 6000 
 
 
 
 
 
 To the Revels 
 
 - 
 
 - 
 
 - 
 
 - 
 
 1000 
 
 
 
 
 
 To Silley and Alderney 
 
 - 
 
 - 
 
 - 
 
 - 
 
 1000 
 
 
 
 
 
 To Ireland 
 
 - 
 
 - 
 
 - 
 
 - 
 
 13128 
 
 6 
 
 8 
 
 To Winter, for his Voyage to Irel; 
 
 md 
 
 - 
 
 M 
 
 471 
 
 4 
 
 6 
 
 To Barthilmewe Campagni (the King's 
 
 Merch 
 
 ant) 
 
 4000 
 
 
 
 
 
 To Porte/mouth and the Ifle of Wight 
 
 - 
 
 - 
 
 1000 
 
 
 
 
 
 To the Men of Armes 
 
 - 
 
 - 
 
 - 
 
 - 
 
 800 
 
 
 
 
 
 To the Lieutenant of the Tower 
 
 
 - 
 
 - 
 
 997 
 
 7 
 
 10 
 
 ^, 108,807 4 ^o 
 
 »9 Pari. Hift. vol. Hi. p. 65. *" Cap. 12. 
 
 *• Strype's Ecclef. Memorials, vol. ii. p. 312. Pari. Hift. vol. iii. p. 864. 
 
 The
 
 OF THE BRITISH EMPIRE. 41 
 
 The reader will naturally remark the ftriking difference between the 
 Aims then due on account of-the Navy and the Ordnance, and the en- 
 ormous outftanding or unfunded debts which have lately exifted on 
 thefe two departments. 
 
 Mary began her bloody reign, with an unufual a£l of grace to her Mary, 
 fubjedts. A fupply had been granted by Parliament to her brother 
 Edward VI. for the purpofe of paying his debts. The money had not 
 been raifed when flie came to the throne ; and by the advice of the 
 artful Gardner, (he remitted the fubfidy, with a view of ingratiating 
 herfelf with the people, and of rendering a Popifh Prince more accept- 
 able to her Proteftant fubje£ts. But, fhort as her reign was, fhe was re- 
 duced to fuch pecuniary difficulties, as to be obliged to borrow fmall 
 fums, even fo low as ten pounds, according to people's abilities. It is 
 proper however to mention, that when fhe found it was unlikely that 
 Ihe fhould live long enough, to obtain any aid from Parliament to pay 
 off the debts fhe had contradled, fhe made it one of her laft requefts to 
 her fifter, to fee them fatisfied ". 
 
 The condudl of Elizabeth, in regard to public debts, cannot be bet- Elizabeth, 
 ter defcribed, than in the words made ufe of- by Sir Walter Mildmay, 
 Chancellor of the Exchequer, on a motion for granting a fubfidy to 
 that Princefs, in the Parliament held amio 1575 : 
 
 " Notwithflanding all thefe expences (alluding to the charges in 
 *' Scotland, Ireland, and in other wars) her Majefty hath mofl care- 
 *' fully and providently delivered this kingdom from a great and 
 " weighty debt, wherewith it hath been long burthened ; a debt be- 
 *' gun four years, at leaft, before the death of Henry VIII. and not 
 *' cleared until within thefe two years, and all that while running upon 
 " interefl : a courfe able to eat up not only private men and their pa- 
 " trimonies, but alfo Princes and their eftates. But fuch hath been 
 *• the care of this time, as her Majefty and the State is clearly freed 
 " from that eating corrofive ; the truth whereof may be teflified by 
 " the citizens of London, whofe bonds, under the common feal of the 
 *' city, which have hanged fo many years to their great danger, and 
 " to the peril of their whole traffick, are now all difcharged, cancelled, 
 
 »» Pari. Hift. vol. iii. p. 288. 343. 357. 
 
 [F] " and
 
 A* 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 " and delivered into the chamber of London, to their own hands. By 
 •' means whereof, the realm is not only acquitted of this great burden, 
 " and the merchants free, but alfo her Majefty's credit thereby, both 
 *' at home and abroad, greater than any other Prince for money, if flie 
 " have need. And fo in reafon it ought to be, for that fhe hath kept 
 " promife to all men, wherein other Princes have often failed, to the 
 " hindrance of many ''^" 
 
 It is to be remarked, that Elizabeth, and indeed her fifter Mary, 
 were fometimes obliged, for the better fatisfadion of their creditors, to 
 mortgage their domains. Even with that additional fecurity, Mary could 
 not procure from the city of London, the fmall fum of 20,000/. under 
 1 2 per cent.''* " 
 
 James I. James was hardly feated on the throne of England, before he found 
 
 himfelf involved, in confequence of his own profufion, and the rapacity 
 of his courtiers, in the greateft pecuniary difficulties. It was ftated in 
 Parliament, that Elizabeth had died in debt, to the amount of 400,000 H 
 But it appears, that fhe left fubfidies due to her, amounting to 350,000 /; 
 which her fucceflbr actually received, and which confequently ought tO' 
 have been dedudled *^ A ftate of the King's debts was reported to the 
 Houfe, nth March 1622; but the journals are fo defedive, that it is 
 impoflible now to difcover the particulars. During this Monarch's reign', 
 it Ihould feem, that the fyftem of mortgaging grants, and anticipating 
 their produce, was perfectly well known. For in the Parliament held 
 anno 1624, the famous duke of Buckingham moved in the Houfe of 
 Lords, " That a meeting might be inftantly prayed with the Com- 
 " mons, to propofe to them, that certain monied men might be dealt 
 " with, to difburfe fuch a fum as was requifite for the prefent ufe ; the 
 " repayment of which to be fecured by parliament out of the fubfidies 
 " intended in the grant, according to what has been heretofore done in 
 " the like cafes : concluding, that he doubted not, that fome would be 
 *' found to difburfe the fame, upon that fecurity "." 
 
 Charles I. The debts that were left by James I. upon his fuccefTor, amounted 
 
 to about 360,000 /. without including arrears of penfions, and a con- 
 fiderable fum due to the houfehold. So heavy a load, joined to the wars 
 
 *' P.irl. Hift. vol. iv. p.'2ii. 
 *' Pari. Hift. vol. v. p. 147. 219. 
 
 '* Pari. Hift. vol. iii. p. 358. 
 '* Pari. Hift. vol. vi. p. 120. 
 
 which
 
 OF THE BRITISH EMPIRE. 4J 
 
 which Charles attempted to carry on, Involved him in the greateft dif- 
 trefles. Had this prince, however, followed the advice given to his 
 father, a little before his death, by that excellent counfellor, the earl of 
 Carlifle ; had he, at the commencement of his reign, caft away but 
 fome crumbs of his crown, or beftowed fome grains of his prerogative 
 on his people, they would probably have exerted themfelves to have 
 rendered him happy and rerpe(flable ". But the haughty pretenfions of 
 Elizabeth, which fhe knew well how to maintain, when put into the 
 hands of weaker and lefs able fovereigns, guided by rafli and contempt- 
 ible favourites, could not eafily be fupported. This is a fubjeft, how- 
 ever, which has been already ftated at confiderable length in the former 
 Part of this work. 
 
 From the commencement of the Civil War to the Reftoration, no- Charles II. 
 thing material occurs with regard to public debts. But, no fooner was 
 Charles II. feated upon the throne, than Parliament was obliged to take 
 into confideration, the arrears due to the army and navy, which were 
 very great : and the Commons feemed anxious not only to pay them 
 off without delay, but alfo to prevent the dangerous confequences that 
 might enfue, from leaving even the remnant of a public debt in the 
 kingdom. One member in particular declared, that the incumbrances 
 of the nation would be found to refemble that ferpent in America, that 
 could devour an ox at a meal, and then falling afleep might eafily be 
 deftroyed ; but unlefs his bones were broken to pieces, he grew again as 
 big as before. In the fame manner, the debts of the nation, though 
 partially diminifhed, would again increafe, whilft a veftige of them 
 remained : and he recommended to the Houfe, to pay off fuch in- 
 cumbrances, by one bold effort ; and not to imitate the foolifli woman 
 In the fable, who roafted a hen with a faggot, flick by flick, until the 
 faggot was all fpent, and the hen flill continued as raw as ever. Much 
 good fenfe is couched under thefe odd allufions ". 
 
 But, however anxious the Commons were, io break the bones of the 
 
 ferpent^ yet the fyflem of contradling temporary debts, by anticipating 
 
 the produce of the grants of parliament, was frequently pradtifed during 
 
 " For Lord Carlifle's excellent advice, fee Pari. Hift. vol. v. p. 530. 
 *' Pari. Hift. vol, xxiii. p. 11. 
 
 [F] 2 this
 
 '44 HISTORY OF THE PUBLIC REVENUE 
 
 this Monarch's reign, and met with every poflible countenance from the 
 legiflature. 
 
 Indeed, fo far was a claufe of credit from being invented (as feme 
 fuppofe to be the cafe) pofterior to the Revolution, that it was ufual^ 
 during the greater part of this Monarch's reign, to infert a claufe em- 
 powering the officers of the Exchequer to borrow money from all 
 perfons, whether natives or foreigners, upon the fecurity of the fubfuly 
 
 Anno 1667. that was granted ; and a law was pafled, entitled, " An a£t for aflign- 
 " ing orders iri the exchequer, without revocation"," which enabled the 
 King to borrow money upon the credit of any branch of the Revenue ; 
 becaufe in the words of the ftatute, " it had been found by experience, 
 " that the powers of affigning orders in the exchequer by former ads, 
 " without revocation, had been of great ufe and advantage to the per- 
 " fons concerned in them," and to the trade of the kingdom." Not- 
 withftanding this adl, an univerfal jealoufy prevailed, when the difgrace 
 at Chatham took place, that fome flop would be put to the payments at 
 
 i8Junei667. the exchequer. But the King ifllied a proclamation, to diffipate all fuch 
 apprehenfions ; and not only declared, that no alteration or interruption 
 Ihould be made in regard to any fecurity already granted, but alfo 
 pledged himfelf, that the fame refolution Ihould be held firm and facred 
 in all future affignments '°. 
 
 Here it is proper to give fome account of a tranfa£tion which 
 contributed to the many heavy burdens under which we now groan, 
 and which will for ever ftamp the charadter of Charles II. with the 
 moll indelible infamy. 
 
 Shutting up The credit of the crown, in confequence of the ads of parliament, 
 
 the exche- g^j-jj j{|g proclamation above mentioned, was carried to a very confider- 
 able height ; and the bankers, and other wealthy individuals, had made 
 it a common pradice to advance money to the exchequer, upon the 
 fecurity of the fupplies voted by Parliament ; and they were gradually 
 repaid, when the produce of the grants came into the treafury. The 
 bankers, by this means, received from eight to ten per cent, for money, 
 which their cuftomers had placed in their hands without intereft, or 
 which they had borrowed at the legal rate of fix/^r cent. But an end 
 
 *' 19 Car. II. cap. 3. 
 
 " See a copy of the declaration, Cafe of the bankers, p. 54. 
 
 was
 
 OF THE BRITISH EMPIRE. 45 
 
 was foon put to fuch vifionary profits ; for on the 2d Januaiy 1672, a 
 proclamation was iffued, fufpending all payments upon aflignations in 
 the exchequer for the fpace of one year, a period which was after- 
 wards prolonged, and never came to a conclufion. The confequences 
 of fuch a raeafure may eafiiy be conceived. Confufion overfpread the 
 whole country. Many flopped payment, or were ruined : diflruft 
 every where prevailed ; and a general ftagnation of commerce took 
 place, by which the public was not only partially, but univerfally, af- 
 fedled ". 
 
 The fum of which the bankers and others were thus defrauded, 
 amounted to 1,328,526/.; and the Kilhg, by letters patent, charged his 
 hereditary revenue with the intereft of that fum at {\k per cent, amount- 
 ing to 79,71 1 /. I \s. 1~d. per annum '''j which was punftually paid, un- 
 til about a year before his death. The payment was then flopped ; and 
 after vainly endeavouring to intereft the legiflature in their behalf, thefe 
 unfortunate creditors were at laft obliged to maintain their rights before 
 the courts of juftice ". The fuit was protracted for about twelve years 
 in the courts below, but judgment was obtained againft the crown, 
 about the year 1697. The decifion, however, was fet afide by Lord 
 Somers, then chancellor ; though it is faid, that ten out of the twelve 
 judges, whom he had called to his affiftance, were of a different opinion. 
 The caufe was at laft carried by appeal to the Houfe of Lords, by 
 whom the decree of the chancellor was reverfed ; and the patentees 
 would of courfe have received the annual intereft contained in the ori- 
 ginal letters patent, had not an a.€t palled anno 1 699, by which, in lieu 
 thereof, it was enaded, that after the 25th December 1705, the here- 
 ditary revenue of excife fhould ftand charged with the annual pay- 
 ment of three per cent, for the principal fum contained in the faid let- 
 ters patent, fubje<ft neverthelefs to be redeemed upon the payment of a 
 moiety thereof, or 664,263/. 
 
 The reader will naturally be anxious to know the amount of the lofs 
 which the bankers fuftained in confequence of this tranfadtion, and the 
 
 '' Hume's Hift. vol. vii. p. 1.76. Macpherfon's Hifl-. of Great Britain, vol. i. p. 451. 
 
 s'' Letter from a By- ftander, p. 88. See alfo Carte's^full anfwer to the By-ftander, 
 p. 91. and 145. Alfo a Letter to the Rev. Mr. Thomas Cartej p.' 81. and 98. And 
 Carte's full Vindication, p. 104. 
 
 33 Comm. Journ. vol. x. p. 224, 225. 
 
 effeds
 
 -46 
 
 Amount of 
 our public 
 debt at the 
 Revolution. 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 effeds of fuch proceedings upon the credit of the crown, and of the 
 public. 
 
 The fum to which the bankers and their creditors were entitled, when 
 the matter was thus fettled by the interpofition of the legiflature, was 
 
 as follov;s " : 
 
 I. To the original fum flopped in the exchequer, aw/o 1672, ^Ti, 328,526 
 
 3. To 25 years intereft, at {\yi per cent, (about) - 2,100,000 
 
 Total, principal and intereft - ^^^ 3,428,526 
 
 As by the fa£t above mentioned, their whole demand was reduced to 
 the fum of 664,263/. it is evident that the lofs they fuftained mufi: have 
 been about2, 800,000/. 
 
 With regard to the confequences of thefe tranfliclions, we are told, 
 that, notwithftanding fo violent a breach of the public faith, Charles 
 was able, two years after he had fhut up the exchequer, to borrow 
 money at eight Z^^" cent.^^, the fame rate of intereft which he had paid 
 before that event ; and Hume from thence takes an opportunity of 
 remarking, " That public credit, inftead of being of fo delicate a na- 
 ■*' ture as we are apt to imagine, is in reality fo hardy and robuft, that 
 *' it is very difficult to deftroy it ^\" But the events at the time, were 
 far from juftifying this pofition. In a tra£t written atmo 1693 (attri- 
 buted to the Marquis of Halifax), wherein, among other modes of raifmg 
 money, he takes into confideration, that of borrowing upon perpetual 
 funds, it is x)bferved, " That the breach of the exchequer credit by 
 *' King Charles, will make men very fliy of parting with their money 
 " upon new projects at a diftance " ;" and indeed, the great difficulty 
 that was found in procuring money after the Revolution, and the high 
 intereft that was paid for it, was in a great meafure owing to the fatal 
 flep taken anfio 1672, which rendered men cautious in again con- 
 fiding any confiderable fum to government, unlefs they were tempted 
 by exorbitant profit and ufurious advantages. 
 
 It was the more neceflary to give an hiftorical account of this tranf- 
 adlion, becaufe the above principal fum of 664,263/. compofes a 
 
 •* See a Modeft Vindication of the Memory of King Charles II. in relation to the 
 Stop at the Exchequer. 
 
 " Danby's Memoirs, p. 65. ^* Hume's Hill. vol. viii. p. 226. 
 
 *' Somers's CoUeflion of Trafts, vol. iv. p. 67. 
 
 pare
 
 OF THE BRITISH EMPIRE. ^^ 
 
 part of the prefent national debt of this country, and indeed Is the only- 
 portion of it that was contracted before the Revolution". There was, it is 
 true, a fmall fum (about 60,000/.) due to the fervants of Charles II. 
 which was diredled to be paid to them in three years, from the 24th of 
 December 1689^'. But it was fuppofed, that little of it was paid, 
 becaufe there was a provifo in the acl, that no money Ihould be given 
 to any of that prince's fervants, who did not take an oath to the new 
 government, before the ill of February i6go; which, it is probable, 
 many of them refufed or neglefted to do*°. There was alfo, on the 
 5th of November 16S8, an arrear of 300,000/. due to the army, and 
 about 280,000/. of the revenues of the crown had been anticipated. 
 But the money that was found in the exchequer, and the fums which 
 were in the hands of the different receivers and collectors of the revenue, 
 fully compenfated thefe demands "'. As to the intereft of the fum above 
 dated, it was originally at 6 per cent, and confequently amounted to 
 39,855/. 17^. ']d. per annum ] but as the bankers debt was incorporated 
 by 3 George I. cap. 7. into the general fund, at 5 fer cent, and was 
 afterwards fubfcribed, in confequence of 6 George I. cap. 4. into the 
 South Sea flock, which now bears only 3 per cent, interefl:, 664,263 /. 
 of principal, and 19,927/. iSj-. ^id. of intereft, is the whole of our 
 prefent debt, contradted prior to the Revolution. 
 
 Such are the moft material tranfadtrons which took place with regard Contlufion. 
 to public debts, during the period of 450 years prior to the Revolution: 
 from aa attentive confideration of which, and of the circumftances 
 ftated in the enfuing chapter, the reader will be enabled to determine, 
 whether it is moft to be regretted, that the funding fyflem ever took 
 place, or that it was not fooner adopted. Had it exifted at an earlier 
 jEra, a fuccefsful conqueror, like Henry V. would never have been im- 
 peded in his progrefs, by the want of a few thoufand pounds, whiclv 
 feeras to have been hrs unfortunate cafe. Whereas, on the other hand, 
 had no money ever been borrowed, were we now free from the burden 
 of thofe taxes, which have been impofed, to provide for the intereft of 
 our prefent national incumbrances, the fituation of this country, at this 
 time, would be truly happy and defirable.. 
 
 '* Hiftory of the Public Revenue, by James Poftlethwayt, p. 107-." 
 
 '9 1 William and Mary, felL 1. cap. 28. 
 
 ♦« Hiftory of our Nationsl Debls and Taxes, p. 6. ♦' Ibid. p. 7; 
 
 CHAP.
 
 4« 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 CHAP. IV. 
 
 Of the Rife and Progrefs of our prefent National Debts, 
 
 THE three grand political obje£ls that our ftatefmen feem to have 
 had in view, from the jlira of the Revolution to the prefent time, 
 were : Firft, to humble the power of France, which at that period 
 threatened the reft of Europe with total fubjedlion : Secondly, to 
 prote£t the Britifh Colonies in America, from the encroachments of 
 that powerful monarchy : Thirdly, to preferve the allegiance, and 
 maintain the connexions of thofe ^■ery colonies with their mother 
 country, when, trufting to the promifes, and fupported by the arms of 
 France, they lately declared themfelves independent States. The purfuit 
 of thefe objeds gradually brought on thofe heavy incij'ubrances, under 
 which England now groans. Other caufes of kfs moment may indeed 
 have occafionally contributed to increafe them: bi; 'he whole, 
 
 it will hardly be denied, that our prefent national debts owe their origin, 
 and the greater part of their amount, to the neceffity we have been 
 under, either to oppofe the arms, or to guard ag;iinft the political in- 
 trigues of the houfe of Bourbon, for nearly a century paft. 
 
 The power that France had attained, and which rendered fuch ex- 
 ertions neceflary, is in a great meafure to be attributed to the wretched 
 policy which has too often prevailed in the councils of this country. 
 It began under the government of Cromwell, who, flattered by the art- 
 ful Mazarine, and expe£ting to fecure acquifitions either on the Con- 
 tinent or in America, that would give luftre to his ufurped adminiftra- 
 tion, was induced to join his arms with France, againft the weakened 
 and degenerate monarchy of Spain ; and by his additional weight, not 
 only elevated the houfe of Bourbon on the ruins of that of Auftria, 
 but alfo compelled the Spaniards to give their Infanta to Lewis XIV. 
 and thus enforced an alliance which has fince been produdive of fo 
 many fatal confequences. 
 
 Unfortunately alfo, the reftoration of the royal family did not correal 
 this miftake in politics. During their long refidence abroad, they had 
 
 I imbibed
 
 OF THE BRITISH EMPIRE. 49 
 
 imbibed foreign manners and foreign principles, and felt little of the 
 natural, and perhaps ufeful, prejudices of an Englifhman. Charles, 
 diflatisfied with the neceflary reftraints of a limited government, which 
 his own profufion and mifcondudl alone could have rendered irkfome 
 to him, inftead of endeavouring, with the afliftance of fome other 
 States of Europe,* to curb the power of Lewis, ailually became his 
 penfioner ; and flattered himfelf with the hopes of being able, by that 
 monarch's alTiftance, to render himfelf defpotic. His parliament in 
 vain recommended his entering into a war with France ; and in vain 
 was every motive held forth, that could have weight with an ambitious 
 fovereign, panting for glory, or a virtuous prince, who wifhed to be 
 accounted the real father of his people. Alive only to pleafure, infen- 
 fible of the feelings of patriotifm, and callous to honourable fame, he 
 fuffered an opportunity to efcape, which, had it been embraced, would 
 have rendered all farther exertions, for reflraining the power of France 
 within reafonable bounds, unneceflary. Inftead of this, a peace was 
 concluded at Nimeguen, not only highly favourable to that monarchy, 
 but which alfo furnifhed it with an opportunity of preparing for frefli 
 wars and new acqulfitions '. 
 
 When James II. fucceeded to the crown, fome expedlations were at 
 firft entertained of his ading a different part. He had more of the 
 fplrit of an EngHih fovereign than his brother. His pride inclined 
 him to afpire at being an independent monarch ' ; nor did he relifh the 
 fuperiority which Lewis afFeded over the other powers of Europe. But 
 unfortunately he was a bigctted Roman Catholic, and his fubjedls had 
 every reafon to apprehend that their Sovereign was refolved to deprive 
 them of their civil and religious rights and privileges. The Dutch, and 
 other nations in Europe, were at the fame time fenfible, that while 
 James continued ^upon the throne of England, they could not depend 
 
 • It is certain (fays Hume) that this was the critical moment (May 1677) when the 
 King might with eafe have preferved the balance of power in Europe, which it has fincc 
 coft this ifland a great expence of blood and treafure to reftore. Vol. viii. p. 31. 
 
 ^ Though he wifhed to be abfolute, yet he was defirous of acquiring unbounded autho- 
 rity, without foreign afliftance. Macpherfon's Hiftory of Great Britain, vol. i. p. 513. 
 His ambaffadors told the States that he was too powerful a prince, to put himfelf under 
 the proteftion of France, and that he had too much fpirit, as well as too high a birth, to 
 be treated like the Cardinal of Furftenburg. Ibid. p. 511. 
 
 [G] upon
 
 5P HISTORY OF THE PUBLIC REVENUE 
 
 upon his aid to preferve them from being fwallowed up by France ; 
 and the confequence was, a general combination, both at home and 
 abroad, to put an end to the reign of a prince, vvhofe condudt was 
 fo likely to prove fatal to his own fubjefts, and to Europe in 
 general. 
 
 But this leads us to the acceffion of a Monarch, who refcued this 
 country from civil, religious, and political bondage ; under whofe go- 
 vernment, however, our prefcnt financial burdens, at leaft to any 
 great extent, had their commencement. 
 
 WILLIAM III. 
 
 Whoever confiders the fituation of England at the acceflion of WiF- 
 llam III. will eafily perceive that many circumftances, both foreign 
 and domeftic, concurred to render the contraction of a public debt 
 almoft unavoidable ; particularly as a war with France was neceffary to 
 maintain a revolution, fo oppofite to the views, and fo contrary to the 
 interefts, of that powerful kingdom. 
 Caufesofour The rcvenucs of England at the time were evidently inadequate to 
 aMheVevo! the necefTitics of the public in fo critical an emergency ; and yet they 
 lucion. could not fafely be increafed. The Englifh were unaccuftomed to 
 
 heavy taxes, and were not yet fenfible, that no nation ever enjoyed 
 civil and religious liberty, without paying dearly for the bleffings it 
 affords. Not many years before the Revolution, when the royal fa- 
 mily was reftored, a vote of Parliament had paffed, declaring, that the 
 permanent revenue of the crown ought to be made up 1,200,000/. 
 a year. But fo enormous did that fum appear, that the neceffary fteps 
 were not taken for that purpofe, until fome time after. By different 
 additions, however, the revenue had at laft been raifed to about two 
 millions a year ; but it was complained of as greater than the country 
 could bear ; and the partizans of William, having unfortunately held 
 forth the redudion of the revenue as a ftrong motive for a change in 
 the government, it became neceffary, when the Revolution was accom- 
 plifhed, to gratify the people with the abolition of the produdive duty 
 of hearlh-money, which happened to be particularly obnoxious. 
 
 The revenue at that period was not only fmall in itfelf, but alfo, In 
 confequence of the calamities with which wars are always accompanied, 
 
 it
 
 OF THE BRITISH EMPIRE. 
 
 It was perpetually dimlnifliiiig. Tunnage and poundage, which, dunng 
 the reign of James, had produced 600,000/. a year, fell, antw 1693, ^^ 
 286,687/. The other branches proportionably decreafed, infomuch 
 that the very fame taxes which before the Revolution had yielded 
 2,001,855/. '^^'^'^ of all charges^; in the year 1693, had fallen to 
 1,104,115/.; and in the year 1695, to 811,949/.'; in which fums, 
 however, no allowance is made for the abolition of hearth-money. 
 Some additional cuftoms and excife had been added, but as they only 
 amounted to 466,203/. the whole revenue, anno 1693, did not exceed 
 1,570,318/. It is eafy to perceive, how much fuch a circumftance 
 muft have damped the Ipirit of the people, diminiflied the vigour of their 
 exertions, and increafed the burdens of the war. 
 
 The affairs of a nation can never be properly conducted, where a 
 fpirit of felfifhnefs prevails ; whether it arifes from attachment to the 
 intereft of one man perfonally to himfelf, or to the intereft of what 
 is called a party. In either cafe, the effeds are much the fame, though 
 the dbjeft may be more confined, or more extended. That fuch a 
 fpirit prevailed in England, foon after William III.'s acceffion to the 
 throne, can hardly be queftioned. The ufual confequences of a fac- 
 tious difpofition quickly enfued. • The intereft of the public was neg- 
 leded ; and nothing was thought of, that would not contribute to pro- 
 mote the views of particular fets of men : nay, party was carried to 
 fuch a height, that either one defcription of perfons, or another, were 
 ever ready to rejoice when any event happened, tending to increafe 
 the national diftrefles. Nor were the baneful effe£ls of this fpirit con- 
 fined to divided parliaments and fluctuating councils ; they extended 
 to our fleets and armies, and to the management of our revenue. " la 
 " countries full of divifions (as Davenant well obferves), no man is 
 " continued long enough in his employment, to gain experience in it. 
 " He who begins to know a little, mufl prefently make room for fome- 
 
 ' Davenant's Works, vol. i. p. 233. But in this fum was included the duty of hearth- 
 money, which yielded 245,000/. per annum, and which was abolifhed before the year 1693. 
 The decreafe in the revenue, however, was ftill very great, amounting, anno 1693, to 
 652,740/. 3.nd anno 1695, 10944,906/. 
 
 ♦ Ibid. vol. i. p. 20, 21. In Whitworth's edition, from fome miftalce, hearth-money 
 is charged in the account 1693) though it had been previoufly aboliftied. 
 
 [G] 2 " body 
 
 5*
 
 52 HISTORY OF THE PUBLIC REVENUE 
 
 " body more iifeful in other matters, or to gratify a fule ; and hence 
 *' the affairs of a prhice will ever be difappointed, whilft the principal 
 *' ofiicers of the revenue are frequently made a prey of, to each party, 
 *' as they happen to be vi£lorious '." This refpetftable author, as a 
 proof of the juftice of this obfervation, mentions, that in confequence 
 of a fudden and improvident change in the commiflion of excife, the 
 revenue had fuffered, in that fmgle branch, no lefs a decreafe than 
 256,000/. a year*. 
 
 In every factious country, public frauds will abound. Thofe-who 
 get into power, are afraid that they fhall not long continue in the manage- 
 ment of affairs, and therefore anxioufly embrace every opportunity of 
 enriching themfelves, at the expence of the public ; trufting either to 
 evade difcovery, or to efcape the punifhment they deferve, through 
 the ftrength and intereft of their party. The abufes and fraudulent 
 pra£lices which took place in the various public offices, during the reign 
 of William, were very great. Some frauds were brought to light ^ ; and 
 commiffioners of accounts were appointed, in hopes of difcoverihg other 
 public defaulters ; but with fuch little effedl, that the commons came 
 to a refolution, anno 1701, " That it was notorious, that many millions 
 ** of money had been given to his majefty, for the fervice of the pub- 
 
 ' Davenant's Works, vol. i. p. 180. " Ibid. p. 184, 
 
 ' One fraud that was difcovered anno 1697, though clearly proved, and of an enor- 
 mous nature, pafled unpunifhed. Exchequer bills, when firft iflued, were not entitled to 
 any intereft ; but when paid in, on account of any tax, they received upon the fecond 
 iflue (if indorfed by the proper officer), an intereft of 5/. \7.s. per annum. This encou- 
 raged feveral of the officers of the excife and cuftoins to contrive together to get great 
 fums of money by faife indorfements, before fuch exchequer bills had been circulated. 
 Many officers had enriched themfelves by this fraud, and Duncombe, receiver general of 
 excife, had amafled a fortune of 400,000/. A bill palled the Houfe of Commons, fining 
 this flagrant offender in about one half of that fumj but it was reje£led by the Lords, 
 in confequence of the exertions of a noble Duke, who was fufpedled of having been 
 gained over by a golden facrifice. The other perfons guilty alfo efcaped. Life of Hali- 
 fax, p. 50. 
 
 It alfo appears, that many exchequer tallies were ftruck with intereft, for confiderable 
 fums of money, not only when there was no occafion to raife the money, but when part 
 of the produce of the tax, on which the tallies were ftruck, had come into the exchequer. 
 See an account of the proceedings of the Houfe of Peers, in regard to the public accounts, 
 printed anno 1702, p. 38. 
 
 f ' lie,
 
 OF THE BRITISH EMPIRE. 53 
 
 " He, which remain yet unaccounted for '.■" And it is aflerted, by an 
 anonymous author, that, in the fpace of five years, the immenfe fum 
 of 10,864,873/. 17/. j\d. had been actually mifapplied or embezzled'. 
 Such abufes a foreign Prince was more likely to overlook, and would be 
 lefs anxious to punifh, than a natural-born fovereign of the country. 
 
 There was alfo a want of public zeal and fpirit, not only among 
 thofe who v.-ere in power, but even in the nation at large, which was 
 attended with the moft unfortunate confequences. The landed intereft 
 endeavoured to throw off the burden of the State from their own 
 fhoulders ; and procured an inftrudion to the committee of fupply, that 
 no money (hould be raifed upon land, without the fpecial leave of the 
 houfe '°. Even when a land-tax was eftablifhed at the rate of four 
 {hillings in the pound, inftead of three millions a year, which it ought 
 to have produced, it only yielded two " ; and every plan that was pro- 
 poled in Parliament, for the general benefit, was rendered abortive. A 
 bill had pafled the Houfe of Commons, for raifing a million upon the 
 credit of the forfeited eftates in Ireland ; but it was dropped in the 
 Houfe of Lords ; many of the leading members in that branch of the 
 legiflature, trufting that they fhould procure thefe eftates for no- 
 thing, if they remained at the difpofal of the crown. The Commons 
 alfo came to a vote, *' That the falaries, fees, and perquifites of all jan 19^ 
 " offices under the crown (leaving 500/. per mmum to each refpedive '^^z- 
 " officer), except the falaries of the judges, &c. and alio all penfions 
 " granted by the crown (with fome exceptions), fhould be applied to- 
 " wards carrying on a vigorous war againft France." But fuch effedual 
 meafures were taken, by thofe who would have fuffered by fuch a refo- 
 lution, that a bill was not even fuffered to be brought in '\ 
 
 The fcarcity of fpecie, and the want of credit and circulation, which 
 prevailed at that time, were circumftances which materially contributed 
 to the pecuniary diftreffes of the nation, and to the decreafe of its re- 
 venues. The money that was recoined during the war (including 
 
 * Commons Journals. 
 
 9 Letter to a new member of the Houfe of Commons, touching the embezzlements- 
 of the kingdom's treafure from the Revolution, p. 17. printed anno 17 10. 
 
 "> Hiftory of our National Debts, p. 14. *• Davenant, vol. i. p. 53, 
 
 »"^ Hiftory of our National Debts, p. 20. 
 
 312,000/,.
 
 54 HISTORY- OF THE PUBLIC REVENUE 
 
 312,000/. worth of plate) amounted only to 8,136,000/.". The whole 
 fpecie In the country could not be eftimated at more than 16,000,000/.'*, 
 from five to fix millions of which were probably hoarded. Every fpecies 
 of credit was at the lowefl: ebb; bank notes were at 20 per cent, and 
 tallies at 40, 50, nay 60 per cent, dilcount ''. In fiich a fituation, with 
 only ten millions of circulating fpecie, and no fubftitute in its aid, how 
 was it poflible for this country to fpend five or fix millions per annum 
 in a foreign war, and to raife its fupplies within the year ? Sir James 
 Stuart juftly remarks, that attempting, in thefe circumftances, to levy a 
 great revenue in England, was like putting a dumb man to the torture, 
 in order to extort a confeffion '*. 
 
 Whilfl: the public revenue was thus perpetually decreafing, the nation 
 was obliged to defray heavier charges than it had ever been accuftomed 
 to before. 
 
 The expences of the Revolution itfelf were not inconfiderable. To 
 the Dutch alone were voted 600,000/. for the armament they had fitted 
 out, in order to bring about that event. The redu£lion of Ireland was 
 attended with great charges : nor were the partizans of the dethroned 
 Monarch driven from Scotland, without fome bloodfhed and expence. 
 The money that was thus required to place William upon the throne of 
 the tluee kingdoms, would have fully defrayed the charges of at leaft 
 one, if not of two, campaigns. Had James II. therefore been a mo- 
 narch who could have been trufted, and who would have cordially af- 
 fifted in the accomplifhment of fo great a work, the balance of Europe 
 might have been reftored, without greater pecuniary exertions than 
 England could eafily have afforded : b'Jt our ftrength was unfortunately 
 at firft employed, rather in fettling our own government, than in hum- 
 bling the power of France. 
 
 Another great and unforefcen expence to which the nation was put 
 at that time, was in order to remedy the diforder into which the coin 
 had fallen, and which was likely to be attended with the moft fatal 
 
 ' ^ Davenant, vol. i. p. 438. 
 
 »♦ Davenant, p. 441. fays, that the fpecie before the war amounted to about 18,500,000/.; 
 but a good deal of it was exported in the courfe of the war. He alfo fays, that upwards 
 of 3,400,000/. of broad hammered money was hoarded in England, befides other kinds. 
 See p. 264. 439. 
 
 •5 Life of Halifax, p. 36. '^ Political Economy, vol. ii. p. 365. 
 
 confe-
 
 OF THE BRITISH EMPIRE. 5^ 
 
 confequences to the commerce, induftrj', and revenue of the coimtry^ 
 This great operation was obliged to be undertaken, in the midft of an 
 expenfive and dangerous war, and was fuccefsfully carried through by 
 Montagu, then chancellor of the exchequer, afterwards created Lord 
 Halifax ; but the diforder had proceeded to fuch a height, that the 
 deficiency on the recoinage coft the nation the enormous fum of 
 2,415,140/. i6s. lod. 
 
 Nor was reducing the power of France an eafy atchievement. Sir James 
 Stuart is of opinion, that it was an enterprife far beyond the ftrength 
 of England to carry through at that time, though aflifted by the great- 
 eft part of Europe '\ That it was not beyond the power of England, 
 appeared fufficiently evident during the reign of Queen Anne, though 
 Spain, inftead of being a friend, was under the dominion of the enemy.. 
 It muft be acknowledged, however, that the enterprife, when it was un- 
 dertaken by William, was attended with the greateft difficulties. France 
 was then at the very zenith of its power. Lewis had the good fortune 
 to be furrounded with the ableft generals and ftatefmen of the age : his 
 revenues were in good order, his troops were well paid, and his peo- 
 ple were loyal and affedtionate, confoling themfelves for their domeftic 
 miferies, by the greatnefs of their fovereign, and the glory he had at- 
 tained ". A fmgle power, poffefled of fuch refources, it is not a little 
 difficult for any confederacy to fubdue. 
 
 Befides, England was obliged to make greater exertions than otherwife 
 would have been neceflary, in confequence of the languor and mifcon- 
 dudt of thofe States with whom fhe had confederated. The Dutch, on 
 the whole, were not deficient ; but little affiftance was received from 
 Spain, notwithftanding the great riches that country was poflefled of; 
 and the Emperor, who was the perfon moft interefted in the war, was 
 the leaft ferviceable of the whole confederacy, and employed his arms, 
 more in oppreffing his own fubjedts in Hungary, than in maintaining 
 the rights of his family, or defending the liberties of Europe ''. 
 
 Whoever confiders, therefore, the ftate of our revenue, the magni- 
 tude of our expences, and the various circumftances, both foreign and 
 
 " Political Economy, vol. ii, p. 263. I* Davenant, vol. i. p. 8. 
 
 »9 Davenant, wl. i. p. 14. 
 
 domeftic^
 
 r6 HISTORY OF THE PUBLIC REVENUE 
 
 domcfllc, above enumerated, mud clearly perceive, that contra<Stlng a 
 public debt, was a matter not of choice, but of neceflity. Yet Boling- 
 broke, Swift, and after them other writers of the fame party, have 
 contended that it was done with a, view of fecuring the additional 
 fupport of wealthy individuals, to the government that was efta- 
 blifhed ". Nay, we are told, that the fupplics might have been raifed 
 within the year, that a fcheme to that effedl was prepared and offered, 
 and that it was allowed to be pradicable ; but that it was rejeded, be- 
 caufe the new government could not be fo effedually fecured, in any 
 other way, as by making the private fortunes of great numbers of peo- 
 ple depend upon the prefervation of it. " Thus (fays Bolingbroke) the 
 *' method of funding, and the trade of flock-jobbing began; and great 
 " companies were created, the pretended fervants, though in many re- 
 " fpedts the real mafters, of every admiaiflration," But a policy of that 
 nature, the confequences of which it was impofTible to forefee, none 
 but defperate miniflers would have attempted ; and when borrowing 
 money was firft tried, it never was imagined that the war would have 
 lafled fo long, or would have proved fo expenfive. 
 
 Others have infmuated, that the nation was involved In debts and 
 difficulties, in order that our trade might be loaded with heavy taxes, 
 and the Dutch the better enabled to rival us in commerce and manu- 
 fa£lures ^'. But though the King was a Dutchman, and though his 
 principal friends and favourites were of that nation, yet he feems ever 
 to have maintained fuch a degree of impartiality between the two coun- 
 tries, as to exempt him from fuch fufpiclons : and with regard to his 
 zeal for carrying on the war by land (which is commonly adduced in 
 proof of his predlledllon for Holland), that was evidently owing to his 
 greater attachment to military, than to naval operations. 
 
 Nay, fome have fuppofed, that our glorious deliverer purpofely ran 
 the nation into debt, not thinking it an evil, or perhaps believing, 
 with fome Dutch politicians, that it was for the interefl of the public 
 to be incumbered : " and this might be true (fays Swift) in a com- 
 
 *'= See Bolingbroke's Works, edit. 1773, ^°'' '^* P* ^^^' Swift's Hiftory of the four 
 laft Years of the Queen, p. 159. Hiftory of our National Debts, p. 17. 
 *' Hiftory of our National Debts, p. 17. 27. 35, 36. 
 
 7 " monwealth,
 
 annuities. 
 
 OF THE BRITISH EMPIRE. 57 
 
 " monwealth, lb crazily conftituted as Holland, where the governors 
 " cannot have too many pledges of their fuhjeds fidelity, and where a 
 " great majority muft inevitably be undone by any revolution, however 
 " brought about ; but, to prefcribe the lame rules to a monarchy, whofe 
 " wealth arifeth from the rents and improvement of lands, as well aa 
 *' trade and manutadlures, 13 the mark of a cramped and confined un- 
 *' derftanding""." As William's underftanding was confcfiedly entitled 
 to a different defcriptlon, it is the lefs neceffary to trouble the reader 
 with any anfwer to fo groundlefs an allegation. 
 
 Let us next fee what were the modes of borrowing money adopted 
 in the reign of William III. 
 
 At firft, the pradice, fo ufual in the time of Charles II. v/as adhered Modes of 
 
 11 1 r 1 1 1 n !• • • 1 borrovring. 
 
 to, and the produce or the grants voted by r arhament was anticipated, 
 without eftabliihing a fund, for the purpofe of paying a certain annual 
 intercfl to the holders of the mortgage ". 
 
 But recourfe v/as foon had to temporary annuities : for, anno 1692, Temporary 
 an attempt was made to borrow a million upon annuities for 99 years, 
 for which 10 per cent, was to be given, until the 24th of June 1700; 
 and J per cent, afterwards, with the benefit of furvivorfhip, for the lives 
 of the nominees of thofe v,'ho contributed *^ So low, however, v/as the 
 credit of government at that time, that, even on thefe terms,, only 
 881,493/. 12/. id. could be procure;. ''. ^nno 1693, a million was 
 raifed upon fhort annuities ; and every fubfcriber received i^ per cent, 
 for fixteen years, with the additional benefits of a lottery ". £0 advan- 
 tageous aa offer, it is hardly neceffary to obferve, was eagerly grafp^ 
 ed at. 
 
 Some money was alfo borrowed, dunngthis reign, upon annuities fcr I'ife annui- 
 lives; and 14 per cent, was granted for one life, 12 per cent, for tv/o 
 lives, a-nd 10 per cent, for three". Such terms were to the highefi: de- 
 gree extravagant ; particularly,^ as no attention waa paid to difference of 
 ages. The original amount of thefe annuities, anno 1G94, was about 
 
 ^'^ Hiftory of the four lafl Years of the Queen, p. 159.. 
 
 " Hiftory of our National Debts,, p. lo. 
 
 ^* 4 V/ill. and Mary, cap. 3. ^* See 4 and 5 Will, and Mary. 
 
 *•" 5 Will, and Mary, cap. 7. ^' Hiftory of ■ our Natioiiiil Debts, p. 28. 
 
 [H]: 22,800/.;. 
 
 ties.
 
 ^8 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Contingent 
 annuities. 
 
 Pepetual an- 
 nuities. 
 
 Lotteries. 
 
 Exchequer 
 
 bills. 
 
 22,800/. ; and yet, in 1762 (fixty-eight years afterwards), they were 
 reduced, by deaths, no lower than 9,215/. ; and in 1782 only to 8,027/. 
 Dr. Price obferves, that borrowing at the rate of 1 2 per cent, for two 
 lives, and i o per cent, for three, is giving i o per cent, for money in the 
 one cafe, and 9 per cent, in the other ". 
 
 In this reign, the Bank of England, and the Eaft India Company, 
 were eftabllfhed : they paid to government the fum of 3,200,000/., 
 for which they received an intereft of 8 per cent. ; and as the taxes im- 
 pofed to defray that intereft, were to remain until the principal, and all 
 the arrears of their refpedive annuities, were difcharged, and confe- 
 quently were unlimited in their duration, this naturally paved the way 
 for thofe perpetual annuities which afterwards took place. 
 
 The fuccefs with which the Bank of England was attended, had en- 
 couraged fome individuals to form the project of a land bank, with a 
 view, not only of raifmg a confiderable fum for the ufes of government, 
 but alfo of lending money on landed fecurities at low intereft ; a part of 
 the fcheme being to give 500,000/. on mortgage at 3/. 10 s. per cent, to 
 be paid quarterly, or /\. per cent, payable half yearly ; but the projedtdid 
 not fucceed. The temptation, however, of mortgages at fo eafy a rate, 
 induced the landed gentlemen to agree to the eftablifhment of perpetual 
 taxes, to defray the intereft of the money intended to be raifed *'. The 
 ftatutes in the year 1695-6, furiiifh the firft example in our hiftory of 
 this climax of financial invention. 
 
 Lotteries began in this monarch's reign ; and as all our evils were 
 then attributed to Dutch counfels, the blame of Lotteries (thofe banes 
 of induftrv, frugality, and virtue, as they w'ere called) was afcribed to 
 an imitation of the example of Holland", and a wlfli in the natives of 
 that country, to ruin our morals, as well as cramp our trade. 
 
 Exchequer bills furniftied another mode of raifing money, firft adopted 
 in the year 1697, which Montagu, when chancellor of the exchequer, 
 
 " Price on Civil Liberty and the Debts of the Kingdom, edit, 1778, p. 134. Note 15. 
 But it is faid that many of thefe annuities are wrongfully paid, owing to the frauds of the 
 annuitants, and the careleffnefs of our public ofHcers. 
 
 *> 7 and 8 Will. III. cap. 31. 30 }-j[ifl. ©f our National Debts, p. 27. 
 
 had
 
 OF THE BRITISH EMPIRE. 
 
 59 
 
 had the merit of iaventing. Some fubftitute for money was partlcu- 
 laily neceflary at that time, on account of its fcarcity during the recoin- 
 age. To render thefe bills more convenient, fome were ifTued for only 
 five, others at ten pounds " ; a pradice which, if now revived, might 
 be attended with ufeful confequences. 
 
 It now only remains, to give an account of fome deftrudive financial 
 operations, adopted at this time. 
 
 It has already been obferved, that feveral life annuities were granted 
 at 14 per cent. In order to raife a fmall additional fum upon the fame 
 funds thus mortgaged, ads were paffed, by which thefe annuitants, or 
 any other perfons for them, were offered a reverfionary intereft, after 
 the failure of the lives, for ninety-fix years, from January 1695, on 
 paying four and a half years purchafe (or (ill\ for every annuity of 
 i4/'\ Afterwards, anno 1698, four years parchafe (or S^^-) ^^s 
 only demanded for the converfion ". The fame fyftem was afterwards 
 adopted, in the reign of Queen Anne. Some of thefe long annuities 
 were fortunately incorporated with the ftock of the South Sea Com- 
 pany ; but fome ftill remain of thefe annuities to the amount of 
 131,203/. 7/. 8<^./fr^;wtfOT,forwhich the fum of 1,836,275/. ins. lold. 
 had been originally contributed; and for the ufe of which, the public 
 mr.fl: pay above thirteen millions before they are all extind ". 
 
 The high rate of intereft at which money was borrowed durino- Rate of in- 
 William's reign, in confequence of the fcarcity of fpecie, and the low "''*'*■ 
 ftate of public credit, was a fatal circumftance at the commencement of 
 the funding fyftem in this country. At firft, attempts were made to 
 raife money at only 6 per cent, intereft " j but it was found neceflarv the 
 very fame feffion, to offer 7 per cent.^^: and, from the year 1690, durino- 
 the remainder of the war, 8 per cent- was uniformly paid. Anno i6gg 
 intereft was reduced fo low as 5 per cent, and continued at that rate 
 until the value of money had again increafed, owing to a new war 
 becoming inevitable. 
 
 3- Life of Halifax, p. 43, 3' 6 and 7 Will. III. cap. 5. 7 Will. III. cap. z. 
 
 " 9 and 10 Will. III. cap. 24.. '* Price on Civil Liberty, p. J34. 
 
 " I Will, and Mary, feff. i. cap. 3. 3' Ibid, cap, 13. 
 
 [H] 2 Davenant
 
 ^o HISTOHY OF THE PUBLIC REVENUE 
 
 Premiums. Davenant aflirms, that the debt of the nation was fwelled more by- 
 
 high premiums than even by the exorbitant intereft that was paid"; 
 and that its credit was at (o low an ebb, that five millions, given by 
 ■Parliament, produced for the fervice of the war, and to the ufes 
 of the public, but little more than two millions and a half ^° ; and it is 
 certain that the public paid dearly for eflablilliing its credit on fuch a 
 footing, as to enable it to procure frefli loans. By an a£t pafled a?mo 
 1.697, when tallies were at a very great difcount, a number of defi- 
 ciencies, arnounting to the Aim of 5,160,459/. 14^. g^^- were accu- 
 mulated into what was called the firfl general fund or mortgage ; and a 
 variety of duties were confolldated together, in order to pay them off". 
 If tliis ftep had not been taken, public credit mulT: have been dcftroyed; 
 and yet, as tallies were at fo high a difcount, the meafure was attended 
 ^ with very great difadvantage. It is ftrongly aflerted, that this evil was 
 
 increafed by the arts of thofe who were in power ; that it was a ufual 
 pradlice to put off fettling a fund for any particular debt due by the 
 public, until the fhares of thofe who were interefted as creditors, fold 
 at a very great lofs. Thofe who were in the fecret then bought them 
 V up, and the deficiency was immediately fupplied *". If thofe fraudu- 
 lent pradices could have been prevented by raifing the fupplies within 
 the year, it is furely much to be regretted, that fuch a plan was not 
 carried through, notwichftanding the many difficulties attending fuch 
 an attempt, and the various obflacles, which mud have been fur- 
 mounted*'. 
 
 It 
 
 3' Vol. 1. p. 156. 
 
 ' 3' Vol. i. p. 264. But this feems to be contradi£led in p. 284. where he fays, that four 
 niillions, within the year, would have gone as far as five millions upon diHant funds ; more 
 than one-fifth of what was granted upon credit, being confumed in difcount, high intereft, 
 and exorljitant premiums. 
 
 39 By 8 and 9 Will. III. cap. 20. 
 
 *" Hift. of our National Debts, p. 35. Hiflory of the four laft Years of Q^ieen Anne, 
 p.. 162. 
 
 ♦■ Davenant (vol. i. p. 157.) fays, that it would be greatly for the public benefit, by fe- 
 vere penalties, to prohibit gratuities upon any loan, more than is allowed by Parliament. 
 Such a plan, heobferves, might bring difficulties at firfl, but in the end would augment 
 
 public
 
 OF THE BRITISH EMPIRE. €t 
 
 It is not propofed to ftate minutely the loans of each year, or the 
 money raifed by mortgaging each different branch of the revenue : 
 fuch circumftances not being interefting enough to thefe times, to 
 render a particular difcuffion neceflary, it will he fufficient (it is hoped) 
 to give a general view of the money borrowed and repaid during 
 this monarch's reign, and a ftate of the national debt at his deceafe. 
 Thofe who wifh to obtain more minute and accurate information, may 
 confult the ftatute book, or the authors who have profefledly written 
 on the fubjed^\ 
 
 public credit. Some regulation of that kind has become more neceflary than ever, in con- 
 fequenceof the great difcount upon our unfunded debts : the exorbitant profits attending 
 the purchafing of which, are equally injurious to public and to private credit. 
 
 *^ See James Pofllethwayt's Hiflory of the Public Revenue, i vol. fol. printed anna 
 1759. Hiftory of our National Debts and Taxes, from the Year 1688 to the Year 1751, 
 in four parts, the laft printed «»«» 1753 ; and Cunningham's Hiflory of Taxes, third 
 C'dition, -anno 1778. 
 
 ABSTRACT
 
 ^J HISTORY OF THE PUBLIC REVENUE 
 
 ABSTRACT of the Money borrowed and repaid 
 between the 5th November 1688, and Ladyday 1702. 
 
 Borrowed upon Produce more 
 
 Borrowed upon Produce of certain funds than borrowed, 
 
 various funds* thofe funds. more than re- but applied ta 
 
 paid, otiier feiviccs. 
 
 From Nov. 5, 1688, to Mich* 1691 ^7,882,079 4,755,407 3,126,672 
 
 From Mich* 1691, to ditto 1692 3,058,291 2,806,941 251,350 - 
 
 to ditto 1693 4,300,427 3,378,228 922,199 ■ 
 
 to ditto 1694 3,188,801 5,573,169 384,367 
 
 to ditto 1695 4,521,826 3,844,492 1,677,334 
 
 to ditto 1696 4,931,104 1,678,177 3,292,926 ' ■ 
 
 to ditto 1697 65647,453 2,569,256 4,078,196 1 
 
 to ditto 1698 2,191,171 2,992,155 800,984 
 
 to ditto 16^9 11878,400 2,526,009 — — 647,608 
 
 to ditto' 1700 1,028,178 2,312,110 — — 1,192,952 
 
 to ditto 1701 2,064,937 2,250,506 185,569 
 
 From Mich* 1 701, to Ladyday 1702 1,408,128 1,538,548 — • 130,420 
 
 Total borrowed ^^44,100,795 34,034,518 13,348,677 3,341,900 
 
 From the above abftrail it might be Inferred, that the debts of Eng- 
 land, at the death of William III. did not much exceed ten millions ; 
 but unfortunately this account includes only thofe temporary debts 
 and annuities, which would have been extinguifhed by the operation of 
 the funds on which they were placed, without making any allowance 
 or addition, either on account of the perpetual annuities, or the un- 
 funded debt. Indeed the following, it is believed, was pretty nearly 
 the ftate of our national incumbrances at this monarch's death. 
 
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 64 HISTORY OF THE PUBLIC REVENUE 
 
 Q^U E E N ANNE. 
 
 The fituatlori of this country, at the acceflloa of Queen Anne, even 
 in the article of national incumbrances, was not greatly to be complained 
 of. The perpetual debts which the public at that time oweJ, or thofe 
 for which the rntereft only was provided, amounted but to 3,864,263/. 
 The temporary annuities, and other funded debts, whofe nominal ca- 
 pital was 9,861,047/. (with the exception of the Exchequer annuities), 
 were likely foon to fall of themfelves, or to be extinguiflied by the 
 produce of the funds appropriated for their redemption j and as for 
 the unfunded debts (amounting to 2,669,392/.) tliey would probably 
 foon have been paid off by oeconomy and good management ; and 
 England might have ken itfelf again free from fuch difagreeable bur- 
 dens, if another war with France had not unfortunately broken out, 
 before fufEcicnt time had elapfed to heal the wounds which foimef- 
 hoftilities had inflided. 
 Caufesoftho Two circumflances rendered fuch a war, if not neceffary, at leaft iri- 
 
 increafe of , • nT i i 
 
 the public a great mealure jultihable. 
 
 fhe'r^ign'o? ^^7 t^ic treaty of Rj-fwick, William III. was acknowledged king of 
 QueenAnne. England'; and James's intereft having been abandoned by his ally, he- 
 had given up all hopes of being reftored to the throne, and had.devoted 
 his time to the ftri(S,eft ' aufterilies of religious enthufiafm. Whilfl. 
 occupied in his ufual adts of devotion, he was fuddenly feized with a 
 lethargy ; aad, after languifhing for fome days, expired on the 6th of 
 Septemper 1701.. Lewis was thrown off his guard by the fuddennefs 
 of this ev-ent ; and pity for a dethroned monarch, in fo diftrefled and 
 niiferable a fituation, led him to promife, that he fhould not only prove 
 the protestor of his family, but fhould alfo proclaim his fon the. only 
 legal fovereign of Great Britain and Ireland, after his deceafe **. This- 
 was an evident infradion of the treaty of P.yfwick. William there- 
 fore had recalled his ambaffador at the court of France, and was mak- 
 ing every precaution to can-y on a war, when his death jirevented it.. 
 His fucceffor, however, upon her acceflion, was equally bound to, 
 
 ♦+ Macpherfon's Hiftcry of. Great. Britain, vol. ii. p. 21 1. 
 
 jnaintaia
 
 OF THE BRITISH EMPIRE. 65 
 
 maintain her own title to the crown, by profecuting the fame mea- 
 fures. 
 
 But this matter might eafily have been accommodated, and the 
 crown of England, to make ufe of the words contained in an Addrefs 
 from the Commons, " would have received reparation for the great 
 *' indignity offered by the French king to his majefly and the nation, 
 " in owning and acknowledging the pretended Prince of Wales king 
 " of England, Scotland, and Ireland *\" without much bloodfhed or 
 expence, if it had not been thought neceflary, for the intereft of thefe 
 kingdoms, and the fecurity of Europe in general, to engage in a 
 war, in confequence of another event which took place about the fame 
 time. 
 
 When Lewis XIV. efpoufed the Infanta, he had renounced for him- 
 . felf and his pofterity, in the fulleft and ampleft manner, all right and 
 pretenfions of fucceeding to the throne of Spain ; and, after the peace 
 of Ryfwick, he had entered into different treaties of partition, by 
 which the Spanifh monarchy was to be fhared among the different 
 claimants, and had agreed to accept of certain territories belonging to 
 that crown, in lieu of all his rights. The king of Spain (Charles II.), 
 enraged at the propofed difmemberment, and refenting that foreign 
 powers fhould interfere in the domeftic concerns of his kingdom 
 during his own life, had nominated Philip duke of Anjou, fe- 
 cond fon of the dauphin of France, his heir; and when Charles died^ i Nov. 1700. 
 Lewis without much hefitation abandoned the treaties of partition, and 
 accepted of a will, which put his grandfon in the peaceable poffeffion 
 of the whole dominions of Spain, both in Europe and America. 
 
 Such an acceflion of power and ftrength to the Houfe of Bourbon, 
 and fo open an infraction of fuch folemn engagements, filled the 
 greater part of Europe either with indignation or difmay ; and an alli- 
 ance was foon after formed, between the Emperor, Great Britain, 
 and Holland, the objed of which was to fecure a bamer to the Dutch ; 
 to obtain fatisfadion to the Emperor for his pretenfions to the Spanifh 
 fucceffion ; and fufficient fecurity to Great Britain and Holland, for 
 their dominions, and for the commerce and navigation of their fub- 
 
 ♦' Comm. Journ. vol. xiii. p. 6|8. 3d Jan, 1701. 
 
 { I ] jeas.
 
 £6 HISTORY OF THE PUBLIC REVENUE 
 
 je£ts**. The treaty was concluded prior to William's deceafe ; but 
 his fucceflbr perfevered in the plans he had entered into, as eflential 
 for the fafety and profperity of her kingdoms. 
 
 England, without doubt, was deeply interefled in the original objeds 
 of the grand alliance ; and they might have been attained at a very 
 early period of the war, before much blood or treafure was expended. 
 But thefe obje<fls were confidered as by far too narrow and confined, after 
 the arms of the allies had triumphed, and the power of France was crufhed 
 by the victories of Marlborough and of Eugene. Nothing then was 
 heard of but the neceffity of dethroning Philip, who was at that time 
 in full and quiet pofleffion of the whole Spanifh monarchy, aad of 
 fetting up his rival in his room". A treaty for this purpofe was 
 i6tl) May entered into with Portugal : a formidable army was fent to Spain, the 
 ^°^' operations of which were at firft fuccefsful ; and addreffes came from both 
 
 houfes of parliament, fiating, " that no peace could be fafe or honour- 
 *' able to her majefty or her allies, if Spain, and the Spanifh Weft 
 *' Indies, were fuffered to continue in the power of the houfe of Bour- 
 " bon." But when the forces of the allies were defeated in Spain, and 
 Charles, whom they had fet up, fucceedcd to the Imperial crown upon 
 Anno 171 1, his brother's death, fuch a plan became no longer advifable ; particu- 
 larly as feveral of the allies declared that they would never confent that 
 the fame perfon fhould be king of Spain, and emperor of Germany. 
 
 The caufes which had formerly operated under the government of 
 William to fwell the public debts, contributed alfo, in the reign of Anne, 
 to their increafe. The fame fraudulent pradices prevailed at home ; 
 and a greater degree of lukewarmnefs to the caufe they were engaged 
 in, and indeed neglecft of the ftipulations they had entered into, took 
 place amongft our allies on the Continent. 
 
 The profufe manner in which public money is wafted, when great 
 Turns are borrowed upon the national faith, is perhaps the moft unfor- 
 tunate circumftance refulting from the funding fyftem. Ever fnice the 
 Revolution, it has in a greater or lefs degree prevailed. Some inquiry 
 was made during this reign into thefe fraudulent pradices. The Com- 
 
 ♦« See the fecond grand alliance, Colleilion of Treatifes, anna 1772) P» 4'' 
 ♦' Bolingbroke, vol. iv. p. itj. 
 
 7 mons
 
 OF THE BRITISH EMPIRE. 6i 
 
 mons thought it neceflary to expel one of their members ; refolutions 
 were entered into, that might deter fuch pradlices for the future ■" ; and 
 it was reprefented to her majeily, by the Commons, that there remained, 
 at ChriftmasijiOjthe fum of 35,302,107/. of public money unaccounted 
 for. Though fuch charges were probably exaggerated, from the rage 
 and malice of party, yet it cannot be doubted that there was too much 
 truth in fome of their allegations. 
 
 We are told, that the earl of Rochefter, the queen's maternal uncle, 
 had propofed in council, that England fhould only a.Q. as an auxiliary, and 
 fliould leave the greater part of the burden upon the fhoulders of thofe 
 who were moft interefted in its fuccefs". But the intrigues and arts 
 of the confederates, and the ambition of the duke of Marlborough, 
 induced us to take, at firft, an adlive, and afterwards the principal 
 part in carrying on the war : and whilft the Dutch were employing 
 what forces they kept in pay, in fecuring a barrier for themfelves, and 
 the emperor was endeavouring to conquer the Spanifli territories in 
 Italy, the forces of England were fent to Flanders, to Germany, or to 
 Spain, as fuited beft the views of the allies '°. The Dutch alfo, no 
 longer animated by their gallant Stadtholder, loft many opportunities, 
 by their timidity, of bringing the war to a fucccefsful conclufion ; and 
 threw away the favourable moment for making an advantageous peace, 
 by indulging, in too great a degree, the natural infolence of conqueft ''- 
 
 *^ Hift. of our Nat. Debts, p. 129. •*' Macpherfon's Hifl-. vol. ii. p. 234. 
 
 5" We fo entirely negle£led the advantages we might have reaped in America, that the 
 French did us more mifchief in that part of the world than we did them. Hift. of our 
 National Debts, part ii. p. 5. 
 
 " It is faid that the duke of Marlborough, after the victory at Ramilies, and the re- 
 dudiion of Oftend and Newport, had formed a plan, anno I706, for paifing by Dunkirk, 
 and for laying fiege to Calais (of which he expefled to be mafter in a week's time), and 
 then of marching coaftways by Dieppe and Rouen to Paris, in which attempt he might 
 eafily have been (^jpported, and his army recruited from England. But the timidity of the 
 Dutch (who were afraid that the French army, in the mean time, would have penetrated 
 into their country) prevented his attempting a plan, which would have brought the war to 
 a fpeedy conclufion ; and as their infolence hindered the advantageous peace propofed bv 
 France at Gertruydenburg from taking place, we had every reafon to complain of their 
 condudt, both as to making peace, and carrying on the war.— See Hift. of our Nat. Debts, 
 part ii. p. 67. 131. 
 
 [I] 2 They
 
 icies 
 
 ^^ HISTORY OF THE PUBLIC REVENUE 
 
 They difplayed alfo too much of the fpirit of a mercantile people. They 
 wifhed to keep up their connexions with France, notwithftanding their 
 war with that country ; and the commons were obliged to addrefs 
 the queen, that her majefty would x;//^ with the States-general, that 
 the flop put to all correfpondence, trade, and commerce with France or 
 Spain, Ihould be continued. Addrefl'es alio were fent to her majefty, 
 that the emperor fliould no longer opprefs his proteftant fubjedls in 
 Hungary ; and that the allies fhould be deilred to furni(h their complete 
 quotas, both by fea and land, according to their refpecClive treaties '*. 
 
 Such are the caufes which are in general affigned for the increafe of 
 our public debts, during the reign of Anne. Let us next confider the 
 principles adopted by her minifters, in regard to borrowing money, and 
 the amount of the national debt at her death. 
 
 Mode of Yhe old pradlice of railing money, by anticipating the produce of 
 
 the taxes on land and malt, was perfevered in ; and indeed has become 
 a permanent part in the fyftem of our finances. 
 
 Long annu- Xhe deftrudive mode of felling long annuities was alfo revived, and 
 only 210/. were demanded for an annuity of 14/. per annum ^ for 99 
 years, being at the rate of fifteen years purchafe ". What renders 
 fuch a mode of borrowing money peculiarly difadvantageous to the 
 public, is, that fuch annuities are always irredeemable ; nor can the 
 creditor be compelled to difpofe of them, but at his own price, however 
 able the nation may be to pay them off, or however anxious to get 
 free of fuch incumbrances. 
 
 Life annui- Annuities for lives were alfo granted during this reign. The terras 
 
 were more favourable to the public than formerly; one life felling at 
 nine years purchafe j two lives at eleven years, and three lives at twelve 
 years purchafe '* : yet, on the whole, it furnifhes another example of the 
 impoflibility of making any advantageous bargain of that kind, particu- 
 larly in time of war ; and the difficulty attending the redemption of 
 fuch fecurities, with the confent of the creditor, renders them peculiarly 
 injurious. 
 
 '^ Comm. Journ. vol. xiv. p. 240. Hift. of our Nat. Debts, part ii. p. 45. 59. 
 5' I Anne, fefT. 2. cap. 3. Hilt, of our Nat. Debts, part ii. p. 38. 
 '♦ Hift. of our Nat. Debts, p. 47. 
 
 During 
 
 lies
 
 OF THE BRITISH EMPIRE. 69 
 
 During the greater part of the war, the fecurity granted to the cre~ ^°"''' ^** 
 ditor for the money that was borrov/ed, was continuing taxes which 
 had been impofed in the reign of William, and borrowing upon funds 
 thus previoufly eflablilhed, and which otherwife would have expired. 
 The people were thus deceived into an opinion, that with hardly any 
 additional burden upon themfelves, they were holding the balance of 
 Europe, and acquiring immortal glory and reputation ". But this 
 procraftinating fyftem proved in the end fatal : a variety of unprovided 
 debts, tallies, and deficiencies came into the market ^° ; were fold at 
 above 40 per cent, difcount, and had almoft ruined the credit of the 
 country, from the immenfity of the load. Thefe debts w-ere at laft Anno i7i<»- 
 accumulated into one fund, and with the addition of 500,000/. raifed for 
 the current fervice of that year, amounted to 9,471,325/. the intereft of 
 which, at 6 per cent, came to 568,279/. 10 j. per annum". The pro- 
 prietors of this ftock having, in addition to that intereft a monopoly 
 granted to them of the trade propofed to be carried on in the South 
 Seas, thence obtained the name of the South Sea Company. 
 
 In this reign alfo, the Bank of England was permitted to increafe Its Bank of 
 capital, and received a prolongation of its charter, in confideration of " 
 400,000 /. which it advanced to government without intereft ". It ftl- 
 pulated, however, for tlie repayment of the principal fum, though that 
 fum was properly a compenfation to the public for the privileges it had 
 beftowed. This, Dr. Price properly remarks, was a wanton and 
 unneceflary addition to the capital of our debt ". Nor was this all : 
 for the fame act contains the moft improvident bargain, on the part of 
 the public, and the moft ufurlous one, on the part of the lender, that 
 can be produced in the hiftory of our revenue. The funds for dif* 
 charging the intereft of certain exchequer bills, which the Bank had 
 agreed to circulate, had been previoufly mortgaged for the fpace of four 
 or five years; and inftead of impofmg a new tax to defray the intereft 
 in the interim (left new burdens fhould irritate the people), it was 
 enadled, that both the intereft and the premium for circulating fuch 
 
 55 Swift's Hiftory of the four laft years of the Queen, p. 164. '* Ibid, p. 170. 
 
 '7 9 Anne, cap. 21. ^' 7 Anne, cap. 5.. 
 
 '5 Tracts on Civil Liberty, p, 125, 
 
 bills,
 
 l^ 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Eaft India 
 Company. 
 
 Perpetual 
 annuities. 
 
 Rate of in- 
 
 terert. 
 
 Premiums. 
 
 Anno 1714- 
 
 bills, fhould be paid quarterly^ in frefli exchequer bills, until the fund 
 was cleared ". When fuch meafures were countenanced by the legifla- 
 ture, when compound intereft was thus paid quarterly, is it to be 
 wondered at, that our public debts fhould have fo rapidly accumulated ? 
 
 Nor was the bargain made with the Eaft India Company much more 
 advantageous. They advanced, it is true, 1,200,000/. to the public, 
 for which they were to receive no intereft ^'. But the nation became 
 bound to repay the principal at the expiration of their charter ; and 
 thus, as Dr. Price well obferves, another unneceflary addition was 
 made to the capital of its debt. 
 
 The nature of the funding fyftem began, during this reign, to be 
 better underftood ". The advantages alfo of public credit, and the 
 neceffity of giving undoubted fecurity to the creditor, were more ge- 
 nerally acknowledged. Perpetual annuities became no longer an objedt 
 of terror ; the new taxes impofed for the fecurity of the Bank, and 
 the whole fund of the South Sea Company, being granted for ever. 
 The public debts, however, either from the timidity of the minifters 
 (who were afraid of irritating the people by frefh burdens, and confe- 
 quently did not provide fufficient funds in proper time), or perhaps 
 from the want of fpecie and refources in the country, fwelled to a 
 height, which, in the apprehenfions of many, prognofticated a fpeedy 
 bankruptcy, or national ruin. 
 
 At firft, money was borrowed, during this reign, at 5 per cent. It 
 afterwards rofe to 6, but, in fadl, was much higher : for the South Sea 
 Company received that intereft for tallies, which were incorporated into 
 its ftock, at par, though they had fold in the market, a little time before, 
 at ^Q per cent, difcount. 
 
 During the latter part of this reign money was principally borrowed 
 by the mode of lotteries ; and confequently the profit of the fubfcribers 
 greatly depended upon the fpirit of gambling at the time. In general, 
 however, they were framed on very difadvantageous principles to the 
 public ; and the laft, in particular, though it took place in the midft of 
 
 *" Polit, Econ. vol. ii. p. 383. Hift. of our Nat. Debts, p. ii. p. 104. " 6 Anne, cap. 17. 
 ** Harley, afterwards created Lord Oxford, from two papers he wrote upon Loans 
 and Public Credit, feems to have underftood the fubjeft. They may be feen in Somers's 
 ' Colle(5V, of Trails, vol. ii. 
 
 the
 
 OF THE BRITISH EMPIRE. 71 
 
 the mofi: profound tranquillity, has been often juftly reprobated. For, 
 of 1,876,400/. raifed at that time", only 1,400,000/. was referved for 
 the public fervice ; the remaining 476,000/. being diftributed among 
 the proprietors of the fortunate tickets. This was a premium of about 
 34 per cent, upon the fum adlually received"*. Such modes of raifing 
 money (as Hutchinfon well obferves), though ruinous to the nation, 
 were highly beneficial to private individuals, who, in a fhort time, in- 
 ereafed fo much in wealth, as to out-top all the ancient gentry, and to 
 vie with the firft nobility in the kingdom '^ 
 
 Let us next fee the amount of our national Incumbrances at this 
 Queen's death. 
 
 GENERAL VIEW of the NATIONAL DEBT, on 31ft Dec. 1714.. 
 
 I. Perpetual Funds. 
 
 1. To the capital of the Bank of England, at Principal. 
 
 6 per cent. — — ;^i,6oo,oco O O 
 
 2. To D% for cancelling exchequer bills at D° 1,775,027 17 10 
 
 3. To fundry exchequer bills circulated by 
 
 the Bank — — 4,67 6.812 10 
 
 Total to the Bank ^^ 8,051,840 7 10 
 
 4. To the E aft India Company at 5^^;- «»/; 3,200,000 O O 
 
 5. To the South Sea Company at 6 per cent. 9,177,967 15 4 
 
 6. To the bankers debt, contradted in the 
 
 reign of Charles 11. — 664,263 o 
 
 ;^ 21,094,071 3 2 
 
 2. Temporary Annuities. 
 
 y. By various lottery funds, granted for thirty- 
 two years — — 13,223,910 O O 
 8. By various other temporary annuities 12,793,132 13 4 
 
 ;^47,iii,ii3 16 6 
 
 3. Uneunded Debts. 
 
 g. To the navy and vi£lualling debt, with 
 
 intereft at 4 /ifr f^n/. — 795j90I 19 8 
 
 10. To army debentures by 3 Geo. I. cap. 7. 
 
 charged upon the general fund 1,604,572 15 2 
 
 11. To the army debt, including the fums 
 
 paid off by grants, (7«w 17 14 and 17 15 550,000 O 
 
 J 2. Deficiencies on the old funds, made good 
 
 by parliament, after the Queen's death 2,083,775 o o 
 
 ;^52> 1 455363 II 4 
 13. Suppofed addition to the capital upon con- 
 verting the temporary into redeemable 
 annuities — 2,Ooo,coo O O 
 
 ;^ 54,145,363 II 4 3'3Si»358 3 3 
 «3 By 12 Anne, feF. 2. cap. 9: «♦ Hift. of our National Debts, part. iii. p. 161. 
 
 •* Treatifes on the National Debt, p. 61. 
 
 This 
 
 Intereji. 
 
 96,000 2 
 
 106,512 13 
 
 5 
 
 3.35'557 
 
 8 
 
 5 
 
 538,070 
 160,000 
 550,678 
 
 I 
 
 
 I 
 
 10 
 
 3 
 
 39'85S 
 
 15 
 
 7 
 
 1,288,603 
 
 18 
 
 8 
 
 990,249 
 871,134 
 
 12 
 12 
 
 
 10 
 
 3>i49^9S8 
 
 3 
 
 6 
 
 3«.836 
 
 I 
 
 7 
 
 64,182 
 
 18 
 
 2 
 
 22,000 
 
 
 
 
 
 83'35i 
 
 
 

 
 72 HISTORY OF THE PUBLIC REVENUE 
 
 This IS as accurate a ftatement, as it Is now poflible to furnifli, of our 
 public debts at the accelfion of the prefent royal family. It is extraded 
 from various accounts, drawn up by different authors, who do not 
 entirely agree with each other as to the amount of the debt " ; a cir- 
 cumftance, however, the lefs material, as minutenefs of accuracy, in fuch 
 remote tranfadtions, is hardly to be expeded, and is far from being 
 cffential. In regard to the value and real burden of thefe national in- 
 cumbrances, Hutchinfon fuppofes, that the funded debts alone, in April 
 1717, at the market price of the day, were worth 50,106,611 /. But 
 the total of the national debt, funded and unfunded, in December 171 7, 
 he calculates at 54,026,865//' : and indeed, 54,145,363/. of principal, 
 bearing an intereft of about 3,351,358/. feems to have been pretty 
 nearly the ftate of our debts at the death of Queen Anne : con- 
 fequently they received, during her reign, an addition of about 
 37>750'66i/. 8 J." 
 
 In all the computations drawn up of the value of the national debt, 
 at that time, there is no circumflance with which the reader will be 
 more flruck, than with the addition which is always made to the capital 
 
 •* See the account of the public debts at the exchequer, March 14, 1716, Commons 
 Journals, vol. xviii. p. 498. From the death of the queen till that period, there was 
 kittle difference in the amount, excepting, that by i George I. cap. 21. 822,032/. 41. 8 J. 
 was added to the (lock of the South Sea Company, which made it up complete ten mil- 
 lions ; and by the fame a£l, in conjunftion with cap. 19. of the fame feflion, 1,079,000/. 
 was added to the redeemable annuities, bearing an intereft of 5 per cent. 
 
 Poftlethwayt's Hiftory of the Public Revenue, p. 106. The hiftory of our National 
 Debts, Part iv. p. 15. The colleftion of treatifes, relative to National Debts, by Archi- 
 bald Hutchinfon, tfq; p. 8. ; and the abftrad of our public funds, by Mr. Afgill, printed 
 anno 1715, may alfo be confulted. 
 
 *' See Treatifes on the National Debt, p. 12. He afterwards adds 8,582,500/. to the 
 above fum, on account of the increafed value of the temporary annuities. Poftiethwayt, 
 in his Hiftory of the Public Revenue, p. 152. computes the national debt, on the 25th 
 December 1716, at 54,542,545/. lu. lid. confequently, about 54,000,000/. feems 
 to be the general idea entertained of the amount of the debt at that time. 
 
 '' Poftiethwayt, in his Hiftory of our Revenue, computes the difference in regard to 
 the amount of our debts, between the 31ft December 1701, and 31ft December 
 1712, at only 35,488,293/. y s. Seep. 107. But it appears from p. 152, that there 
 was a difference between the 31ft December 1712, and 25th December 1716, of 
 2,670,231 /. } s. the greater part of which falls to be added. 
 
 upon
 
 OF THE BRITISH EMPIRE. 
 
 upon the fuppofitlon that the temporary annuities were to be bought 
 up. Though many of them commenced in the reign of William, and, 
 confequently, from fifteen to twenty years had eiapfed fince they were 
 originally granted ; yet it was computed, that it would require 
 4,415,189/. is. \d.^ more than the nation had originally received, to 
 re-purchafe them at the prices for which they fold in December 1717°' : 
 and fuch of thefe temporary annuities as were fubfcribed into the South 
 Sea Stock, in confequence of two adls of parliament, pafled anno 1719, 
 and 1720'°, coft the nation an additional capital of 3,034,769/. \\s. \\d. 
 though 1,836,275/. \']s. \od. of Long Annuities, befides. fome life 
 annuities, were not included. The holders of fuch of thefe annuities as 
 were granted anno 1694, Hutchiufon calculates, were not only repaid 
 both their principal and intereft at 6 per cent, in December 171 7, but 
 alfo had received about 30 per cent, more than they had originally 
 paid ". The lofs which the public has fuftained by thefe annuities, 
 fmce the period above mentioned, it is impoffible to think of with any 
 degree of patience. 
 
 GEORGE I. 
 
 Whoever contemplates the hiftory of this country under the govern- 
 ment of thofe princes who were attached to Roman Catholic principles, 
 or connedted with the court of France ; the various grievances which the 
 people at home had fo much reafon to complain of, and the difgraces 
 which the nation had fuffered abroad, will not hefitate to acknowledge, 
 that the acceflion of the Houfe of Hanover to the throne, was the mod 
 fortunate event that could poffibly have happened to Great Britain at 
 that time ; and nothing was wanting to have crowned our happinefs as 
 a nation, but fuch an attention in the fgrvants of the crown to the public 
 credit and finances of the country, as might have laid the foundation of 
 our being once more iree from a confiderable fliare of thofe burdens to 
 which we were then fubjedled. But fuch were the timidity, the careleff- 
 
 '9 See Hutchinfon's Treatifes, p. 59. 
 
 '* See 5 George I. cap. 19. and 6 George 1. cap. 4.; and Pofllethwayt's HilL 
 p. 104. 106. ^' Treatifes of the National Debts, p. 60. 1 
 
 [K] nefs, 
 
 73
 
 74 HISTORY OF THE PUBLIC REVENUE 
 
 nefs, or the mifcondudt of thofe who were in power, that, though the 
 reign of George I. was, on the whole, a period of tranquillity, little 
 difturbed by foreign wars, and thofe not of a very expenfive nature, yet 
 fo favourable an opportunity was fuffered to efcape ; and though the 
 intereft of our debts, in confequence of the decreafe in the value of 
 money, and of the bargain with the South Sea Company, was confi- 
 derably diminifhed, yet the capital unfortunately underwent no material 
 redudion. 
 
 It is propofed briefly to explain, from what caufes this circumftance 
 proceeded. 
 
 At the clofe of the reign of Queen Anne, the people of this coun- 
 try were divided into two great parties, one of whom was defirous of 
 reftoring the Houfe of Stewart, the other, of maintaining the rights of 
 the proteftant fucceffion. When George I., therefore, came to the 
 throne, he was naturally led to trull the entire inanagement of pub- 
 Hc affairs in the hands of thofe who had profefled themfelves his 
 friends, and indeed had perfevered in their attachment to his intereft, 
 even when fuch principles were not the immediate road to preferment. 
 It is to be regretted that fuch a monopoly of power was judged necef- 
 fary : for fuch a fyftem promoted difaffedion, and encouraged violence 
 and party rage in thofe who confidered themfelves as profcribed. 
 Whereas, had William's example been followed, and had an adminif- 
 tration been compofed out of both parties, it is probable that no man 
 would have attempted to have difturbed the eftabliflied government of 
 his country '*. 
 
 But fuch meafures, though warmly recommended to his majefty at 
 his acceflion to the throne, were confidered to be either dangerous or 
 impradicable ; and a formidable party, finding themfelves thus totally 
 excluded from all hopes of authority and power, joined the warm parti- 
 zans of the exiled family, and raiXed an infurre(ftion, which, though foon 
 quelled, involved the nation in confiderable expences ; injured the cre- 
 dit of the government, and juftified their delaying to take the methods 
 that were neceflary for the re-eftabliftiment of our finances. The 
 delay might alfo arife in part from an abfnrd notion propagated 
 during this reign, that the redudlion of the national debt might prove 
 prejudicial to the family upon the throne, by diminiftiing the number 
 
 '* Hift. of our Nat. Debts, part iii. p. a. 
 
 2 of
 
 OF THE BRITISH EMPIRE. 75 
 
 of thofe who were attached to it from interefted motives, and whole 
 fortune would be materially injured, fhould any revolution take 
 place ^'. 
 
 It was carefully propagated by the partizans of a particular party, 
 about the middle of the reign of George II., that, fince the acceffion of 
 the prefent royal family, the interefts of Great Britain had been con- 
 ftantly facrliiced to that of the eledlorate, and that this country had 
 been ever fmce fteered by the rudder of Hanover '*. It is certain, that 
 our connections with that country necefiarily involved us, more than 
 otherwife would have been neceffary, in the affairs of the continent : 
 and the firft of the Brunfwick family that fat upon the Englifh throne, 
 having acquired the poffelTion of the dutchies of Bremen and Verden, and 
 being anxious to fecure an acquifition of fuch great importance to his 
 hereditary dominions, we were thence led into a war with Sweden, to 
 which Bremen- and Verden properly belonged ; but all pretenfions to 
 which fhe was compelled to renounce, in confequence of our exer- 
 tions ". Nor was this all ; for as thefe dutchies compofed a part of the 
 German empire, it was neceflary to procure the invefliture of them ; 
 and this brought on a train of negotiations with the emperor, and with 
 other powers, which, whilft they did no credit to the abilities of our 
 flatefmen, proved highly prejudicial to our finances'*: for having gua- 
 rantied, by the quadruple alliance, the territories of the emperor in 
 Italy, we were thereby involved in a war with Spain, begun in July 
 1718, which, after having been fignalized by a vidory obtained on the 
 coaft of Sicily over the Spanifh fleet, was terminated by a treaty of peace, 
 figned June 13, 172 1. 
 
 But the principal caufe of our public debts remaining undiminifhed 
 during this period, undoubtedly was — mifmanagement in our domeftic 
 
 T See Treatifes on the Nat. Debt, p. 117. Hutchinfon juftly ridicules the idea, that a 
 load of fifty millions of debt upon the nation was a fecurity to the proteftant fucceffion. 
 
 '♦ See Faftion detefled by the Evidence of Fads, 2d edition, p. 121. fuppofed to be 
 written by Lord Egmont. 
 
 75 See the Treaty of Peace, dated Nov. 20, 171Q; Colledion of Treaties, vol. i. 
 P- 345- 
 
 " Bolingbroke, vol. iv. p, 132. and Fadion Dete£led, p. 26. in which it is remarked, 
 that, anno X731, in confequence of thefe negotiations, we employed a fquadron of Britifh 
 men of war to efcort fome Spanifh troops into luly, at the expence of 200,000 /. 
 
 [K] 2 affairs.
 
 76 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 affairs. Little care was taken to raife fuch a revenue as the nation could 
 afford ; and what was railed, was expended in a greater peace eftablifh- 
 ment than Britain had ever been accuftomed to fupport. Our unne- 
 ceffary expences, during this Monarch's reign, are calculated to have 
 amounted to 13,730,000/."; a fum which, had it been properly applied 
 to the redemption of the debt, would not only have dimlnilhed the prin- 
 cipal to that amount, but would alio have enabled us to have reduced 
 the intereft of the remainder, and would have railed a finking fund, 
 capable of producing the greateft effedls, in alleviating our burdens. 
 
 It la not propofed to give any account at prefent of the financial ope- 
 rations during this reign, as they more properly belong to the enfuing 
 chapter, where it is intended to explain the different meafures taken, 
 for reducing either the capital, or the intereft of our debt. We fhall, 
 therefore, give, without farther preliminary obfervations, a general view 
 of the national incumbrances at this Monarch's death. 
 
 GENERAL VIEW of the NATIONAL DEBT, on Dec. 31, 1727. 
 
 I. Perpetual Funds. 
 
 1. To the capital of the Bank of England, at Principal. 
 
 t per cent. — — ^^ 1, 600,000 O 
 
 2. To ditto, for cancelling Exchequer bills, re- 
 
 duced at Midfum. 1727, to 4 percent. 1,775,027 17 lOj 
 
 3. For cancelling Exchequer bills, reduced at 
 
 Midfum. 1727, to 4 /i^T ««/. — 2,000,000 o 
 
 4. Purchafed from the South Sea Company, re- 
 
 duced to 4 /-<■/• «»^ at Midfum. 1727 4,000,000 o o 
 
 Total to the Bank 
 To the Eaft India Company — 
 
 To the South Sea Company — 
 
 ^£9,375,027 17 loi 
 
 3,200,000 o o 
 
 33,802,203 5 tk 
 
 ;f46,377,23i 3 5 
 2. Temporary Annuities. 
 
 To various long, fhort, and life annuities 2,433,942 4 4t 
 To various Exchequer bills, &c. charged 
 
 on different furplufes — 1,543,780 15 4 
 
 9. Navy debt, at 4 per cent. 
 
 /50,354'954 3 
 3. Unfunded Debt. 
 
 1,737,281 2 
 
 ,^52,092,235 5 
 
 3'v 
 
 Intereji. 
 
 96.000 o o 
 
 71.001 2 3r 
 80,000 o o 
 
 160.000 o o 
 
 407.001 2 3i 
 160,000 o 
 
 1,352,088 2 1\ 
 
 1,919,089 4 lof 
 
 182,932 14 II 
 
 46-,038 6 41 
 
 2,148,060 6 li 
 69,491 4 io| 
 
 \\ 2,217,551 II o 
 
 ^' Hlft. of our Nat. Debts, part iv. p. 14. 
 
 Thus
 
 OF THE BRITISH EMPIRE. 77 
 
 Thus It appears, that the capital of the national debt in the year 17 14, 
 and in the year 1727, v;ere nearly the fame ; particularly if no addition 
 is made to the principal, in the former period, on the fuppofition, that 
 the temporary annuities ought to be valued at the price they would 
 fetch in the market, and not at the fum that was originally paid ". The 
 reader, at the fame time, will perceive how much the two periods differ 
 in regard to the intereft. In the reign of Queen Anne, the fame 
 capital of about fitty-two millions, was paid annually the fum of 
 3,351,358/., which, at the death of George I., was reduced to 
 2,217,551/. The difference amounting to 1,133,807/. is a full proof 
 of the flourifhing credit which this country enjoyed, and of what might 
 have been done at that time for retrieving our finances, by an able, de- . 
 cided, and public-fpirited minifter. 
 
 GEORGE II. 
 
 The reign of George II. may be divided into four periods. The firft, 
 from his acceffion to the beginning of the Spanifh war, antio 1739 ; the 
 fecond, terminates at the peace of Aix la Chapelle, atmo 1748 ; the third, 
 with the breaking out of the French war, anno 1755 ; and the laft may 
 be extended to the treaty of Paris, anno 1762. As it was during this 
 reign that our debts began to put on the formidable appearance they 
 now wear, it is the more neceffary to trace their progrefs in each of 
 thefe periods. 
 
 If any one aera, fmce the revolution, were to be pointed out in which The firft pe- 
 our miniilers were peculiarly culpable for negleding to take folid and 
 fubftantial meafures to reftore good order in our finances, it muft be 
 that of the commencement of this monarch's reign. The nation was then 
 acknowledged, on all hands, to be in the moft profperous and flouriflilng 
 condition : its glory and reputation were at the highefl: pitch, and it 
 never was better able to vindicate the honour of the crown, and to de- 
 
 riod. 
 
 " Poftlethwayt, in his Hiftory of the Revenue, p. 122. fuppofes, that about 
 2,670,231/. ij. of principal was paid off on the 25th of March 1728. Bijt he includes, 
 in the National Debt, at the death of Queen Anne, the additional value of the temporary 
 annuities. 
 
 fend
 
 7? HISTORY OF THE PUBLIC REVENUE 
 
 fend its juft privileges and pofleffions '" ; and yet little advantage was reap- 
 ed from fo fplendid a fituation. The minifter at the time (Sir Robert 
 Walpole), though fupported by the whole influence of the crown, and 
 by a formidable party in parliament, did not enjoy the general confi- 
 dence of the people; and inftead of adding to the public revenue, and- 
 diminifhing the national incumbrances, he preferved his tottering au- 
 thority, by reducing the land tax to one fhilling in the pound, in or- 
 der to ingratiate himfelf with the landed intereft, and by alienating the 
 produce of the finking fund, from thofe purpofes to which it had been 
 originally deftined, and applying it to the current fervices of the year. 
 There is alfo too much reafon to believe, that thofe refources which 
 ought to have been employed in difcharging the public incumbrances, 
 were fhamefully wafted in purchafing the votes of the venal, and in 
 hiring mercenary writers, to defend the caufe of the minifter, and to 
 rail againft his opponents *°. The confequence was, that, during a pe- 
 riod of profound peace, and which lafted for the fpace of twelve years, 
 the reduftion in the capital of our debt was very inconfiderable, in 
 comparifon of what it ought to have been, confidering the many ad- 
 vantages which we enjoyed. 
 
 But, as the national debt, aniio 1 739, was lower than at any period 
 fmce the death of Queen Anne, it may not be improper to ftate the 
 particulars of which it confifted. 
 
 79 Thefe are exprefllons contained in one of this monarch's firft fpeeches from the 
 throne, July 17, 1727. Comm. Journ. vol. xxi. p. 14, 
 
 •" From i''07, to 1717, the money paid for fecret fervices, amounted only to 
 337,960/. 4;. 3i(/. But, from 1731, to 1741, being another period of ten years, no 
 lefs a fum than 1,453,400/. bs. was iflued for the fame purpofes. See Commons Jour- 
 nals, vol. xxiv. p. 295. 
 
 GENERAL
 
 OF THE BRITISH EMPIRE. 79 
 
 GENERAL VIEW of the NATIONAL DEBT 
 
 on December 31, 1739. 
 
 I. Perpetual Funds. 
 
 I. To the capital of the Bank of England, Principal. InUreJl. 
 
 m 6 per cent. — — ^I,6oo,000 O O 96,000 O 9 
 
 1. For cancelling Exchequer bills, at 4 per 
 
 cent. — — — 500,000 O O 20,000 O O 
 
 3. Purchafed of the South Sea Company, at 
 
 4 per cent — — 4,000,000 O O l6o,COO O O 
 
 4. Annuities at 4 per cent, from Midfummer 
 
 1728 — — 1,750,000 O 70,000 o O 
 
 5. Annuities at 4 ^«* ««/. from ditto 1729 1,250,000 o o 50,000 o o 
 
 Total to the Bank ;fg, 100,000 o o 396,000 o o - 
 
 6. To the Eaft India Company, at 4/i^r««/. 3,200,000 o O 128,000 o O 
 
 7. To the South Sea Company, at ditto 27,302,203 5 6f 1,092,088 2 j^^ 
 
 ;f39,6o2,203 5 6| 1,616,088 2 7f 
 
 8. To various long and fhort annuities. 
 
 Exchequer bills, &c. — • 6,527,735 2 4 314,949 19 8 
 
 9. The Navy and Viflualling debt, at 
 
 4 per ant. — — 824,684 15 6 325987 7 9J 
 
 Total ;C46,954,623 3 4I 1,964,025 10 li 
 
 Principal. Interejl. 
 
 Debt on Dec. 31, 1727 £52.092,235 5 4I 2,217,55111 oj 
 Ditto on Dec. 31, 1739 46,954,623 3 4i 1,964,02510 if 
 
 Difference ^ 5,137,6^2 2 o 253,526 o \o\ 
 
 If, inftead of this inconfiderable reduftlon, the minifter had proceeded 
 to the great work of diminifliing the debt with firmnefs and vigour, 
 and, indeed, had he not aUenated the finking fund, and defeated Sir 
 John Barnard's plan, for reducing the intereft of the greater part of the 
 redeemable annuities, from 4 to 3 per cent, (which might have been 
 carried into effeft anno 1737, as well as anno 1749), our finances w'ould 
 have been put in fuch a ftate, that no power in Europe would have 
 ventured to incur our refentment ; and we might have avoided a war, 
 equally unneceflary and inglorious, which added above thirty millions 
 to our national incumbrances. 
 
 An idea had become not a little prevalent, in foreign countries. The fccond 
 during the latter part of Sir Robert Walpole's adminiftration, that this P^'od. 
 country, notwithftanding all its power and riches, might be infulted with 
 
 impunity J
 
 So HISTORY OF THE PUBLIC REVENUE 
 
 impunity ; becaufe the mlnlfter knew well that a war muft prove fatal 
 to his authority. The court of Spain embraced fo favourable an op- 
 portunity of difplaying that antipathy to Great Britain which it had 
 Ibng entertained, and the fources of which it is neceflary briefly to 
 explain. 
 
 By an exprefs article in the fecond grand alliance, concluded an»o 
 1 70 1, it had been fl:ipulated, that Great Britain and Holland fliould re- 
 tain whatever cities and territories belonging to the Spanifh dominions 
 in the Indies fhould be conquered by their arms '\ But, though fuch an 
 opportunity of making valuable acquifitions to the crown of England, 
 had never before, or, indeed, fmce exifted, yet our exertions were al- 
 inofl; entirely dedicated to European conquefts ; and, inflead of Hifpa- 
 niola and Cuba (poffeflions almoft invaluable to a commercial nation), 
 Gibraltar and Minorca were thofe about which we were occupied ; and, 
 as it was eafily perceived that no plan of a treaty would fucceed, unlefs 
 this country was gratified with fome important acquifitions, the King of 
 Spain was thence compelled, by certain articles in the treaty of Utrecht, 
 to furrender Gibraltar and Minorca, in full right and property, to the 
 crown of Great Britain. 
 
 It is probable, however, from the conclufion of the article by which 
 Gibraltar was ceded (in which it is declared, that if ever the property of 
 that fortrefs was to be alienated, the preference fhould be given to the ' 
 crown of Spain), that there was fome fecret underfl:anding between the 
 parties at the time, with refpeft either to an exchange or a fale ; and Phi- 
 lip King of Spain, in confequence of fome fuch agreement, was per- 
 petually importuning the Britifh minifters, that Gibraltar might be 
 reftored. Nay, on the 1 ft of June 1721, George I. wrote a letter to that 
 Monarch, in which it is faid, " I do no longer balance to aflurc your 
 *' Majefty of my readinefs to fatisfy you with regard to your demand, 
 *' touching the rejiitution of Gibraltar; promifing you to make ufe of 
 " the firft favourabfe opportunity to regulate this article with the confent 
 " of my parliament '\" 
 
 »■ See Art. 6. 
 
 ** See the original letter in French, and a tranflation of it, Comm. Journ. vol. xxi. 
 p. 285. 
 
 Gibraltar,
 
 OF THE BRITISH EMPIRE. «j 
 
 Gibraltar, however, was a pofleffion too dear to the Englifii nation to 
 he eafily relinqulfhed ; and fuch advantage would have been taken of 
 their attachment to it- by thofe who were in oppofition to government 
 al the time, that no fteps could be lafely purfued for a reftitution of that 
 fortrefs. This naturally excited chagrin and refentment in the court of 
 Madrid, which were perpetually breaking out when any favourable 
 opportunity occurred of infulting us with impunity. 
 
 But the war more immediately arofe from the treatment which our 
 fhips and mariners, and thofe of our colonies in particular, received on 
 the American feas. The Spaniards, anxious to monopolize the whole 
 trade of their colonies in America, treated, in the harfliefl and mod 
 cruel manner, fuch Britifh veffels as ventured near their fettlements, 
 whether for the purpofes of commerce, or when driven by neceffity. 
 Thefe circumftances at laft attracted the attention both of the Crown 
 and of Parliament ; and the examination of an old failor at the bar of 
 the Houfe of Commons, who was maimed by the cruelty of .the Spa- 
 niards, roufed the indignation of that affembly, and filled the whole 
 nation with a fpirit of refentment ; In confequence of which, war was 
 declared againft Spain on the 19th of October 1739. 
 
 An event foon afterwards took place, which involved all Europe 
 in confufion. 
 
 On the 9th of Odlober 1740, Charles VI. Emperor of Germany 
 (the laft prince of the houfe of Auftria), expired at Vienna. Little 
 doubt was at firft entertained that his eldeft daughter (Maria Therefa, 
 married to the grand Duke of Tufcany) would enjoy an undifturbed 
 fucceffion. But, though the principal powers of Europe had gua- 
 ranteed her rights, difputes arofe with regard to the pofleffion of the 
 greater part of her father's dominions ; and the Eled;or of Bavaria was 
 fet up by France as a competitor for the Imperial crown. In this extre- 
 mity, her whole dependance refted on the fupport of Great Britain ; by 
 whofe affiftance fhe at laft triumphantly furmounted all her difficulties. 
 But to eftabliffi that priucefs, and to preferve the prefent Impciial 
 family, in oppofition to the intrigues and the armaments of France, 
 was attended with charges, the burthen of which this country feels at 
 
 this hour. 
 
 [L] Great
 
 8« HISTORY OF THE PUBLIC REVENUE 
 
 Great Britain has, in general, enjoyed this advantage, that the wars In 
 which fhe has been engaged have not been carried on within the bounda- 
 ries of the ifland. In the year 1745, however, we felt all the horrors 
 of inteftine horalilies, in confequence of a bold and defperate attempt to 
 raife a new rebellion in favour of the exiled family. The warlike fpirit 
 for which the northern parts of Scotland have been fo long diftin- 
 gulfhed, inftead of being employed to maintain tlie rights and to extend 
 the fame and glory of the Britifh empire, had been fufFered to ruft in 
 floth, and to brood over its caufes of difcontent. A brave and hardy- 
 race, thus neglected by their legal foverelgn, confidered themfelves as a 
 profcrlbed and devoted people ; and, preferving their old attachments, 
 flew to arms with alacrity and zeal, to fupport the only caufe 
 for which they were fufFered to bleed ; flattering themfelves wiih the 
 vain expedation of being able, by their valour, to replace the houfe of 
 Stuart upon the throne. The infurredion, though at firft fuccefsful, 
 was at once quelled by the decifive victory at Culloden. Befides the 
 great expences which this rebellion occafioned, and the injury 
 which it did to the national credit, it was attended with another un- 
 fortunate circumftance. The troops employed for that purpofe being 
 drawn from the armies of the allies on the continent, this circumftance 
 weakened our forces there to fuch a degree, as to difable us from reaping 
 thofe advantages which otherwife we had every reafon to expert. 
 
 This war with Spain and France, which had lafted nine years, was at 
 laft terminated by the treaty of Aix la Chapelle ; and it is now propofcd 
 to give fome account of the principles upon which money was borrowed 
 to defray the extraordinary expences it occafioned, and alfo a general 
 view of the amount of our public debt, when the war was brought 
 to a conclufion. 
 
 Mode of It was during this period that a pra£llce which began in the reign of 
 
 borrowjng. Qiiggn Anne, of adding an artificial to the real capital, was firft carried 
 to any great height. The funds were now confidered as a permanent 
 fpecies of property, which it was fuppofed the nation could never totally 
 redeem ; and it was, therefore, thought better to dlfpofe of a certain 
 quantity of a 3 or \per cent, ftock ; and thus to make a bargain at one 
 determinate intereft, than to eftablifti new funds at different rates, in 
 
 7 proportion
 
 OF THE BRITISH EMPIRE. g 
 
 proportion- to the fluduation of the value of money, which during a 
 long war was perpetually increafing ". The plan was at firft lefs perni- 
 cious than it has fmce proved. The price of flocks, during this whole 
 period, did not greatly differ from the capital. Indeed, until the rebel- 
 lion of 1745, the '^per cents. \\d,di never been below 89. But the fame 
 pradice has fince been purfued, when thefe funds fold at little above one 
 half of their nominal value ; and the State has acknowledged itfelf in- 
 debted in a hundred pounds, when, perhaps, it only received fixty. 
 The ignorant might be thus deceived into an opinion, that we were bor- 
 rowing at a lower interefl: than in fadl was the cafe. We have dearly 
 paid, however, for this imaginary advantage, by a great and folid addition 
 to our national incumbrances. How much of our prefent debts ought 
 to be attributed to this deftrudive mode of raifmg money, will be the 
 fubjedl of future inquiry. 
 
 - It was alfo ufual, at this time, when money was borrowed, to give Premiums, 
 douceurs to the creditor in the ihape of lottery tickets, or of life annu-r 
 ities ; a mode adopted, not only with a view of concealing from the 
 people the real burdens of the war, but alfo of enabling the money- 
 lender to make the greater profit of his bargain with the public, by fur- 
 nifliing him with every fpecies of fecurity, and putting it in his power 
 to pleafe the palate of every different purchafer. 
 
 It has been an unfortunate circumflance for this country, that we have Eaft India 
 hardly ever concluded a bargain with any of thofe great companies Company, 
 which were originally inftituted with a view to facilitate the redudion 
 of our debts, but at a time when the public was involved in difficulties, 
 and confequently neceffitated to accept of any terms they thought pro- 
 per to propofe. Thus, in order to procure a million from the Eaft 
 India Company, the exclufive charter which it had obtained, was con- 
 tinued from 176610 1780; and confequently prolonged for fourteen 
 years, twenty-three years before the former term of the monopoly was 
 to have ceafed. For this million, they were to receive an intereft of 
 3 per cent. ; and, as 3 per cents, were then at 97, the whole value they 
 gave for this grant did not exceed 30,000/.'* The company, it is 
 
 'J Folit. Econ. vol. ii. ?• 393. '* Ibid. p. 392. 
 
 [L] 2 believed, 
 
 J
 
 84; HISTORY OF THE PUBLIC REVENUE 
 
 believed, would have paid in a million, and virould have readily accept- 
 ed of 750,000 /. of capital, bearing what was then the ufual intereft of 
 4 per cent. But thofe who managed thefe contrails for the public (as 
 Dr. Price well obferves) did not attend to the abfurdity and extrava- 
 gance of loading pofterity with a debt for money paid to enjoy the ex- 
 clufive poffelfion of certain valuable privileges, and of thus burrowing^ 
 In the very adt oi felling y a very important monopoly ". 
 Baok. During this period, alfo, the charter of the Bank was prolonged, 
 
 until the ift of Auguft 1764, in confideration of which, they lent to 
 government, anno 1742, the fum of 1,600,000/. without intereft; the 
 greater part of which would have been paid for the prolongation of its 
 exclufive charter, had the former intereft of 6 per cent, on their original 
 ftock being continued. Thus another wanton and unneceflary addition 
 was made to the capital of our debts '*. 
 
 Let us next fee the amount of our national debt, when the war was. 
 brought to a conclufion. 
 
 *i Traits on Ciril Liberty, p. 132. *^ Itid; p. 125. 
 
 GENERAL
 
 OF THE BRITISH EMPIRE. 
 
 9S 
 
 GENERAL VIEW of the NATIONAL DEBT, on 31ft Dec. 1748. 
 
 I. Funded Debts. 
 
 I. The capital of the Bank of England, at Principal. 
 
 3 per cent. — — ,(^3,200,000 O 
 
 2. For cancelling Exchequer bills, at 4/ii?rr^n/. 500,000 o 
 
 3. Purchafed of the South bea Company, at 
 
 ditto — — — 4,000,000 o 
 
 4. Annuities at4/)^rff«^ fromMidfum. 1728 1,750,000 o 
 
 5. Annuities at ditto, from ditto 1729 1,250,000 O 
 
 6. For cancelling and circulating Exchequer 
 
 bills — — — 1,486,400 
 
 O 
 o 
 
 o 
 o 
 
 
 
 ;/^I 2,1 86,400 O 
 
 7. To the Eaft India Company, for its (lock 
 
 and annuities — — 4,200,000 O 
 
 8. To the South Sea Company, at 4 /ifrrtn/. 27,302,203 5 6i 
 
 9. To various long and fliort annuities, pay- 
 
 able at the exchequer — 2,042,723 6 ij 
 
 10. To various redeemable annuities, at 
 
 different rates of intereft — 3>°79507i 5 i| 
 
 11. To various Bank annuities, at different 
 
 interefls 
 
 22,530,000 o o 
 
 ;C7i>340,397 ^^ 9I 
 2. Unfunded Debts. 
 
 12. To navy, viflualling, tranfport, and ord- 
 
 nance debts, at 3 per cent. — 5,748,264 17 55 
 
 13. Debts and deficiencies provided for pofte- 
 
 rior to Dec. 31, 1748, at /)*r c^n/. 1,204,650 7 8^ 
 
 Tntertjl. 
 
 96,000 o o 
 
 20,000 O O 
 
 160,000 o o 
 
 70,000 o o 
 
 50,000 o o 
 
 54,450 o o 
 
 450.450 
 
 
 
 
 
 158,000 
 1,092,088 
 
 
 2 
 
 
 71 
 
 218,117 
 
 II 
 
 8 
 
 104,561 
 
 7 
 
 9 
 
 829,200 
 
 
 
 
 
 2,852,417 % 0\ 
 
 J72,^^y 18 II 
 36,139 10 2| 
 
 ;^78,293,3i3 1 lof 3,061,004 11 li 
 
 Principal 
 Debt on Dec. 31, 1748 ;^78,293,3i3 i io| 
 Debt on Dee. 31, 1739 46,954,623 3 4 
 
 Intereji, 
 3,061,004 
 1,964,025 
 
 II If 
 
 10 li 
 
 •-^rti. 
 
 Increafe ;C3i'338,689 18 6^ 1,096,979 
 
 1 03 
 
 Thus it appears, that the war occafioned an addition of 31,338,699/. 
 i8j-. ()\d. to the principal ; and of 1,096,979/. \s. o\^d. to the inte- 
 reft of our debts ; to which are to be added the money taken from 
 the finking fund, and the additional taxes which were impofed, in 
 order to carry on a war, which, after all, was produdlive of not one 
 folid advantage, and was concluded by a peace, in every refpeit 
 inglorious. 
 
 From
 
 riod. 
 
 86- HISTORY OF THE PUBLIC REVENUE 
 
 Thjrdperiod. From the treaty of Aix la Chapelle, we enjoyed the ble/Iings of 
 peace for about feven years ; a period diftingiufhed by tlie boldcft and 
 moft ufeful operation of finance recorded in the hiftory of this country: 
 for, by the judicious meafures taken by that able, and patriotic minifter, 
 Mr. Pelham, who at that time had the management of our revenue, aided 
 by the counfels of that excellent citizen, Sir John Barnard, no lefs a fum 
 than 57,703,475/. 6/. 4^^ vvas gradually reduced from an intereft of 
 4 to 3 per cent. This is a fubjedl, however, which more properly 
 belongs to the enfuing chapter. At prefent, it is only neceflary to re- 
 mark, that our debt, <inno 1755, amounted to 74,571,841/. 0x1 2i^., 
 bearing an intereft of 2,416,717/. oj. /^\d. Confequently, 3,721,472/. 
 I s. 8^ d. of principal, was paid off, in addition to the great redudlioh of 
 intereft that took place at this time. 
 
 Fourth pe- The Britifla colonies in North America, after long ftruggling with 
 
 various difficulties, arifm'g from the nature of the climate, the ruggednefs 
 of the foil, and the barbarity of their Indian neighbours, began about 
 this time, in confequence of their own exertibris, and aided by the fup- 
 port and encouragement which they received from the mother country, 
 to' enjoy a confiderabl^ degree of happinefs and profperity ; and when 
 nothing feemed likely to have difturbed the tranquillity of England for 
 many years, fhe was alarmed with intelKgence, that thefe colonies, 
 which fhe had reared at fuch an expence, and protected at fuch heavy 
 charges, were in a ftafe of the utmoft danger and diftrefs, the French 
 having, by their intrigues, united the various tribes of Indians againft 
 them ; and having conftrudled fortSj furroimding the frontiers of all 
 the fettlements, fome of them within 225 miles of Philadelf>hia ". 
 Thefe circumftances were firft publicly taken notice of in his Majefty's 
 fpeech from the throne, on the 13th of November 1755 ; and the Com- 
 mons, in their addrcfs, thanked the Crown, " for having, at the ha- 
 " zard of all events, taken meafures for the defence of the Britifh do- 
 *' minions in America, not only encroached upon, but openly attacked 
 *' by the French, in a time of full peace, and farther threatened and 
 " endangered by a large embarkation of troops from Europe." And 
 they alfo declared, " that they would vigoroufly and cheerfully fupport 
 *' his Majefty, in his refifting fuch unjuftifiable encroachments "." 
 
 " Mort. Hift. of England, vol. iii. p. 512. 
 "^ Comm. Journ. vol. xxvii. p. 301. 
 
 Attempts
 
 OF THE BRITISH EMPIRE. 
 
 87 
 
 Attempts have recently been made to afcribe the origin of this war to 
 other motives, in order to palliate the ingratitude of the new American 
 States. Pofterity will be able to judge with more impartiality than we 
 can at prefentjhow far their reafonings are well founded, hut it will be 
 difficult for it to be convinced, that the war did not arife from a paffion- 
 ate defire on the part of the Englifh nation, to defend thofe whom they 
 confidered as their brethren, and who would either have been de- 
 ftroyed by the tomahawks of the Indians, or driven into the fea by 
 the French, had it not been for our affiftance. A war thus fpringing up, 
 foon fpread its deftrudive influence far and wide ; and occafioned an 
 expence to this co'jntry, much greater than it ever had before incurred ; 
 the fatal confequences of which were greatly increafed from the perni- 
 cious manner in which our debts were contraflied. 
 
 The enormous charges with which this war was attended, put go- Mode of 
 vernment fo much in the power of the money-lenders, that the mod ^o^o^^^E' 
 difadvantageous terms were agreed to, without hefitation. The firll 
 million that was borrowed, was obtained at an intereft of only 3 per 
 cent. ; and as ev€iy addition to that interefl:, or augmentation of capi- 
 tal, for which no value was received, is to be accounted an additional 
 premium or douceur, the lofs which the public fuftained in this man- 
 ner will appear almoft incredible. 
 
 GENERAL VIEW of the PREMIUMS upon the NEW LOANS, 
 in the courfe of the War, begun anno 1 755. 
 
 1. On the loan 1756, an additional intereft of i-half percent. 
 
 2. Ditto i757j being a life annuity of \ per cent.^'^ — 
 
 3. Ditto. 1758, an additional intereft of i-half per cent, for 24 years 
 
 4. Ditto 1759, 990,000/. of capital, bearing an intereft of 3 per cent, 
 
 wiiich, in 9 years only, amounted to 
 
 5. Ditto 1760, by various douceurs — 
 
 6. Ditto 1761, by ditto — — 
 
 7. Ditto 1762, by ditto »— — 
 
 £, 90,000 
 472,500 
 
 495,000 
 
 — — 1,257,300 
 
 1,852,800 
 4,296,375 
 5,820,000 
 
 o 
 
 o 
 o 
 
 o 
 o 
 o 
 o 
 
 o 
 o 
 o 
 
 o 
 o 
 o 
 o 
 
 9»;£i4,283,975 o 
 
 " Sir James Stewart remarks (Polit. Econ. vol. ii. p. 397.)» '^st Mr. Grenville has calculated 
 thefe life annuities at too low a rate. 
 
 «"> See the Prefent State of the Nation, fuppofed to be written by the Right Honourable 
 George Grenville, 3d edition, p. 11. 
 
 It
 
 %i HISTORY OF THE PUBLIC REVENUE 
 
 It Is evident that fome part of this fum cannot juftly be placed to the 
 account of thofe minifters by whom the money was borrowed ; be- 
 caufe the value of money neceflarily increafes with the demand for it in 
 a time of war. But if loans had been made at a high intercft, and with 
 a low capital, the public would have been, perhaps, tivelve miUiofis and 
 a half lefs incumbered than it was ; and, at the fame time, the annual 
 charges in no refpeft greater *' ; and fome part of the debt might eafily 
 have been redeemed by parliament at the return of peace, or borrowed 
 upon lower intereft. 
 
 Let us next fee the amount of our debts, funded and unfunded, at 
 the conclufion of the peace, anno 1762. 
 
 GENERAL VIEW of the NATIONAL DEBT, at the Conclufion of 
 the War, begun anno 1755, and ending anno 1762. 
 
 Principal. Inttrejl. 
 
 \. To the national funded debt, on the 5th of January 1755 
 (See Commons Journals, vol. xxvii. p. 167), with the in- 
 tereft payable thereon, fince the redu6llon, anno 1755 and 
 
 »757 , — , — ~" „, ~ ;C73'289,673 2,378,252 
 
 2. TotheNavydebt, Jan. 17,1755 (dittop.io8),at3/i^rf^«/. 1,282,167 38)465 
 
 3. To the debt funded during the Principal. Intirejl.. 
 
 war, including the value of the 
 long annuities, granted anno 
 1761 and 1762 — ;C58>«29'37S 2,036,300 
 
 4. To unprovided debts, funded 
 
 prior to 1764 — 6,983,553 279,342 
 
 5. Unfunded debt, remaining anno 
 
 1763, deducting the navy debt 
 
 of 1755 — — 6,998,076 108,462 
 
 X74>57i>840 2,416,717 
 
 72,111,004 2,424,104 
 
 9' ;{; 1 46,682,844 4,840,821 
 
 5' Trafts on Civil Liberty, p. 108. 
 
 9* Mr. Grenville, in his State of the Nation (p. 28), fuppofes, that the debt, funded and un- 
 funded, at the conclufion of the peace of Paris, amounted to 148,377,618/., bearing an intereft 
 of 4,993,144/. per annum. But the abov,e is the funi at which it is ftated by the learned Dr. 
 Price, who has more recently examined the fubjedl (fee the Account of the Progrefs of the Na- 
 tional Debt, Trads on Civil Liberty, p. 147). The difference feems to have arifen from the for- 
 mer including the deficiencies of grants and funds aimo 1763 and 1764, and the whole of the ex- 
 traordinaries of the army, which the latter does not take into its computations. 
 
 Thus,
 
 OF THE BRITISH EMPIRE. tp 
 
 Thus, for the fake of proteding from the power of France thofe very- 
 colonies who have lately thought proper to throw themfelves into the 
 arms of that country, we were led into a train of meafures which al- 
 moft doubled the incumbrances of the nation, and required an addition 
 of above two millions and a half to pay merely the annual intereft of 
 the debt incurred ; and when a peace was concluded, and Guardeloupe 
 and Canada came to be put in competition (however preferable the 
 former in every commercial view), the interefts of Great Britain were- 
 not fufFered for a moment to ftand in competition with providing for 
 their fecurity. Thefe are circumftances which, it is to be hoped, in 
 their cooler moments, when they are fatiated with the imaginary blef- 
 fmgs of independence, and of the friendfhip of their new allies, they 
 will recolleft, with the natural fenfations of generous minds awakened 
 from prejudice and pafTion, and alive to the genuine dictates of grati- 
 tude and of honour. 
 
 GEORGE III. 
 
 At the conclufion of the war, in 1762, the fituation of this country 
 was, to all appearance, fplendid and flourifhing. It was incumbered, it 
 is true, with a heavy debt, but in no degree beyond what it could bear; 
 and we might have enjoyed as high a pitch of profperity and happinefs 
 as any nation could have defired, if a fatal fpirit of anarchy and of intef- 
 tine difcord, if a lull of power among the great, and an impatience of 
 fubordination among the people, had not arifen, which, after raging for 
 feme time at home, at lafl broke out, with redoubled violence, in our 
 American colonies, and produced a conteft equally pernicious to both 
 countries. Even before the difputes with America had broke out into 
 hoftilities, our diflenfions had been attended with the moft deftrudive 
 confequences to the nation. They occafioned, in the management of 
 our affairs, an inattention to every thing but parliamentary influence, a 
 prodigality in our public expenditure, and a fyftem of adopting tem- 
 porary expedients, inftead of purfuing fome great, unifonn, and deci- 
 five line of condud. The fame unhappy divifions made us neglect 
 to cultivate the friendfhip, or to conciliate the affections of tliofe powers 
 with whom we were naturally conneded : whilft, on the other hand, 
 we feemed afraid to offend our enemies, unmindful of that found politi- 
 cal maxim, " when difcord rages at home^ to give it an opportunity of 
 
 [M] " fpending
 
 $0 HISTORY OF THE PUBLIC REVENUE 
 
 " ipending its violence agalnfl: other ftates." Indeed, if the rupture 
 with Spain, for the pofl'effion of Falkland ifknds, had not been unfor- 
 tunately prevented, thofe refources which Great Britain and her colo- 
 nics wafted in deftroying each other, might have been employed in 
 curbing the power, and in conquering the territories of their mutual 
 enemies. It will appear alfo, from the following ftate of the national 
 debt itt iViidrun-.mer 1 775, that the continuance of peace was not at- 
 tended with thofe great effeds, in reducing our incumbrances, which 
 might have been expected. 
 
 GENERAL VIEW of the NATIONAL DEBT, at Mldfummer 1775. 
 
 I. Perpetual Funds. 
 
 Principal. JntereJI. 
 
 1. To the capital due to the Bank of England — ;^i 1,686,800 350,60+ 
 
 2. To the Eaft India Company — — 4,200,000 126,000 
 
 3. To the South Sea Company — — 25,984,674. 779,541 
 
 ^15871,474 1,256,145 
 
 4. Perpetual Bank annuities, at 4 per cent, which in Ja- 
 
 nuary 178 1 fell to 3 />!■?■ c^«/. — 18,986,300 759j452 
 
 5. Dicto, at 3 and a hdM percent, which fell to 3 per cent. 
 
 anno 1782 — — — 4,500,000 157,500 
 
 6. The 3 />^r f«;r. confolidated annuities — 38,251,696 1,147,551 
 
 7. The 3 /■£-/■ f^-^rf. reduced annuities — i8>353'774 55°»6i3 
 
 8. The 3 per cents 1726 — — 1,000,000 30,000 
 
 ;Ci22,963,24+ 3,901,261 
 
 2. Temporary Annuities. 
 
 9. Banklongannuities,for9gyearsfromi76i ^^6,702, 750 
 
 10. 
 II. 
 
 i5aniciongannuities,tor9gyearstromi76i £6,702,750 f 
 
 Exchequer long annuities — 1,836,276 > 953795807 467,560 
 
 Various life annuities — 840,7813 
 
 ;ri32,343,C5i 4,368,821 
 
 3. Unfunded Debt. 
 
 12. Exchequer bills, 1,250,000/., Navy debt, 1,850,000/^, 
 
 Civil Lift debt, 500,000/., the intereft at 3 per cent, 3,600,000 108,000 
 
 Total debt at Midfummer 1775 ;Ci35, 943,051 4,476,821 
 
 Principal. Jntereji. 
 
 Debt, anno 1762 ;f 146,682,844 4,840,821 
 Debt, anno ijys 135,943.051 4>47^>82r 
 
 '3 Diminifhed, dur- 
 ing the peace jC io»739>793 364,000 
 
 9' Tracts on Civil Liberty, p. 119. Of this boafted diminution, one half did not 
 arife from the furplus of the revenue. 
 
 Thus
 
 OF THE BRITISH EMPIRE. 91 
 
 Thus it is evident, that little more than ten millions of our debt were 
 paid off during the peace: a fmall fum compared to what might have 
 been difcharged with eafe, had the refources of this country been fully 
 exerted ; and, indeed, if only one half of thofe taxes to which the na- 
 tion has lately been made fubjeft, had been impofed mtno 1762, when 
 tranquillity was fully reftored, our finances would have been brought 
 into fuch order, before the year 1775, that no ftate in Europe, nor 
 any colonial confederacy in America, would have hazarded a quarrel 
 with us. But a nation that will not look its dangers and its burdens in 
 the face, and purfue great and decifive meafures for its liberation, when 
 in its power, mufl ever expert to feel the bitter confequences of indo- 
 lence and timidity. 
 
 The fcurces of the war with our colonies, and the events with 
 "tvhich it has been accompanied, are circumftances too recent, and too 
 well known, to require being enumerated in this work ; and as neither 
 the relation, nor the perufal of them, can furnifli any friend to the 
 happinefs and profperity of this country v?ith any pleafing fenfations, 
 it is therefore hoped, that the following ftatement of the debt which 
 we have incurred, in confequence of our late hoftilities, will be deem- 
 ed fufficient. 
 
 [M] 2 GENERAL
 
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 P5 ^
 
 OF THE BRITISH EMPIRE. 
 
 Such is the nominal amount of the exifting incumbrances of the na- 
 tion, the real nature and burden of which will be the fubje£l of future 
 dlfcuffion. At prefent, it is only propofed to give a fhort view of the 
 progrefs of the public debts from their commencement to the prefent 
 time. 
 
 Principal. Interejf. 
 
 National debt at the revolution — — ^ 664,263 39i^5S 
 
 /«r^a/^ during the reign of King William — I55730>439 1,271,087 
 
 » ' ' ^ ' ■ —111 ■ *' 
 
 Debt at the acceffion of Queen Anne — — 16,394,702 1,310,942 
 
 Increafe during the reign of Queen Anne — 37>7S0566i 2,040,416 
 
 Debt at the acceflion of George 1. — — 54>I45j36^ 3'35I>3S8 
 
 Z)fcr^(3/f during the reign of George I. — — 2,053,128 1,133,807 
 
 Debt at the acceflion of George II. — — 52,092,235 2,217,551 
 
 X)«/"f(?/« during the peace — — — 5,137,612 253,526 
 
 Debt at the commencement of the Spanifti war 1739 46,954,623 1,964,025 
 
 Increafe during the war __ _. — 315338,689 1,096,979 
 
 Debt at the end of the Spanilh war 1748 — 785293,312 3,061,004 
 
 P^rr^^yj during the peace — — 3,721,472 664,287 
 
 Debt at the commencement of the war 1755 — 74,571,840 2,396,717 
 
 /ncr^fl/? during the war — — 72,111,004 2,44f,i04 
 
 Debt at the conclufion of the peace 1762 — — 146,682,844 4,840,821 
 
 Decreafe during the peace — — ^05739>793 364,000 
 
 Debt at the commencement of the American war '35j943505i 4,476,821 
 
 Increafe during the war — — 121,269,992 5,192,614 
 
 jC257>2I3>043 9.669,435 
 Deduft the principal of the ten-porary annuities, anno lyjS, 
 and 1 per cent, of the intereft of the 4 per cents, re- 
 duced to ^ per cent, in January 1781 — > 95379>8o7 189,863 
 
 Amount of the national debt, anno 1790 ;C^47»8335236 9=479)572'* 
 
 One circumftance alone furnifhed the author with any confolation 
 whatfoever during the whole courfe of this painful inveftigation, which 
 has arifen from the wealth and refources of this country having been 
 found infinitely fuperior to the expectations even of the moft fanguine. 
 There is hardly a period, fince the revolution, in which as great appre- 
 henfions were not entertained of the ftability of the funds, and as loud 
 
 5* Of this fum, 5,184,850/. was paid off, on the 10th 0(Sober 1789, by the opera- 
 tion of the unalienable million. 
 
 complaints 
 
 92
 
 ^4 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 complaints made of the intolerable weight of taxes, as at the prefent hour: 
 and if the public are but convinced that our incumbrances, however 
 enormous, are not beyond the ability of the country either to bear or to 
 redeem, and at the fame time that the burden has grown to fuch a height 
 that palliatives can be no longer eftedlual, but that great and fubftantial 
 meafures muft be taken for their redemption without delay, it is appre- 
 hended there will be little difficulty in carrying fuch plans into effedl as 
 will foon render Great Britain as happy, flourifhing, and powerful, as 
 ever ; and Europe (in the words of Raynal) will yet be able to fliow 
 the world one nation, of whom fhe has reafon to be proud. 
 
 CHAP. V. 
 
 Of the Steps hitherto taken to diminijh the Capital, and to 
 reduce the Intereji of the National Debt, with fo7ne 
 account of the differ e7it Plans fuggefled for that pur-- 
 pofe. 
 
 ANY perfon, unacquainted with the hiftory of England, who was 
 told that, in lefs than a century, it had involved itfelf in a debt 
 of above 240,000,000/. would naturally enquire whether .any fteps 
 had ever been taken to prevent fo immenfe an accumulation. He 
 would be apt to afk — Were there no generous patriots to warn the 
 nation of its danger ? Were there no minifters who had either wifdom 
 to apply a remedy, or magnanimity to check this cancerous humour ', 
 before it grew to fuch a height ; or were the people fo felfifh and in- 
 terefted, that they would not bear the fmalleft additional burden for the 
 fake of their pofterity ? 
 
 To fatisfy the curiofity of thofe who may be defirous of knowing 
 what meafures were purfued for difcharging the capital, or reducing the 
 intereft of our national incumbrances, is the object of the prefent 
 chapter. 
 
 ' Bolingbroke, vol. iv. p. 130. 
 
 From
 
 OF THE BRITISH EMPIRE. g; 
 
 From the preceding part of this work, it appears that, during the King WiU 
 reign of William, our perpetual funded incumbrances did not amount 
 to four millions ; and as the remaining burdens of the country at that 
 time, either confifted of long annuities (which would be annihilated in 
 the courfe of time), or of loans upon funds which .yielded fo great a 
 furplus, after defraying their refpedlive interefts, that they were likely 
 foon to be paid off, it was the lefs neceffary to form any plan for a more 
 fpeedy redemption : the only redudtion, therefore, that took place dur- 
 ing the whole period, was that of annihilating, by a£l of parliament, one 
 half of the capital and annual intereft of the bankers debt, which 
 Charles 11. had left behind him. 
 
 The great addition to our national incumbrances, which took Queen Anne, 
 place in the reign of Queen Anne, not a little alarmed the public. 
 Propofals were made for raifmg between two and three millions per 
 annum^ to be applied as a finking fund to pay them off* : and one 
 member in the houfe of commons (Archibald Hutchefon) thought it 
 incumbent on him to point out the defl:ru<Stive confequences of our 
 public debts, and to fuggefl the means that might be taken for their 
 redemption. But the attention of minifters was taken up with matters 
 which they confidered to be of much greater importance ; namely, in 
 political intrigues for preferving their own power, and fecuring a fuc- 
 ceffor to the crown, on the enjoyment of whofe confidence they might 
 fully depend ; confequently no fleps were taken for that purpofe. 
 
 Soon after the acceffion of the prefent royal family, Mr. Hutchefon George I. 
 prefented to George I. his famous plan for the payment of the public 
 debts, which, as it is drawn up with great concifenefs, and with much 
 ability, is well entitled to infertion in a hiftory of our finances. 
 
 A Propofal for the Payment of the Public Debts. 
 
 I. That the fums feverally alTefTed on the lands of Great Britain for 
 the land-tax of the year 171 3, be made payable as a rent charge in fee 
 
 * See Propofals for a very eafy Tax, to raife between two and three millions per annum., 
 to begin to pay the Public Debts; by Ephraim Parker. London, printed anno 1713. It 
 was by a tax upon the linen, woollen, and filk manufadures. 
 
 11 for
 
 96 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 for ever, out of the faid feveral refpedtive lands, redeemable, notwith- 
 ftanding, at any time, by the proprietors paying twenty-two years pur- 
 chafe for the fame. 
 
 2. That the faid rents, or the money raifed by redemption or aflign- 
 ments of the fame, be appHed towards the difcharge of the public 
 debts. 
 
 3. That one-tenth part of all annuities for life, or other eftate ; and 
 all other rents ifliiing out of the aforefaid lands, and of all fums of 
 money fecured by mortgage, and of all other debts which affedl lands, 
 be entirely remitted to their refpedive proprietors. 
 
 4. That the proprietors of fuch lands be empowered, notwithftanding 
 any difability by fettlements, to fell fo much of the faid lands as fhall 
 be fufficient to redeem the aforefaid refpecftive rent charges. 
 
 5. That one-tenth part of all the debts fecured by the public funds, 
 be remitted. ' 
 
 6. That one-tenth part of all the other nett perfonal eftate of all the 
 inhabitants of Great Britain, exclufive of the aforefaid debts which af- 
 fe£l lands and public funds, be applied to the payment of the public 
 debts. 
 
 7. That two {hillings in the pound be made payable yearly out of 
 the falaries and perquifites of all offices and places which are now in 
 being, or (hall at any time hereafter be created, and to remain during 
 the continuance of fuch offices and places refpe(5lively. 
 
 8. That the legal intereft be reduced to 4 per cent, per annum. 
 
 g. That, for the effe£tual fecuring of the payment of fuch public 
 debts, for which there either is at prefent no provifion, or the proviiion 
 made by Parliament appears to be deficient, that all funds granted for 
 any term of years be made perpetual, until the principal and intereft of 
 all the fiid public debts be fully paid off; and that the intereft of fuch 
 public debts as at prefent have defective or no fecurities, be paid out of 
 ihe yearly produce of the faid funds, and that the remainder only of 
 fuch produce, over an<l above the intereft of the faid public debts, be 
 applied towards the finking of the principal money. 
 
 10. That provifion may be made by an excife on apparel, or fome 
 other excife, fufficient to produce ane million jJi^r annum^ in lieu of the 
 land-tax, to continue till all the public debts are difcharged ^ 
 
 3 Hutchefon's Colleilion of Treatifes, p. 27. • 
 
 It
 
 OF THE BRITISH EMPIRE. c^^ 
 
 It is unneceflary to trouble the reader with any obfervations upon fo 
 excellent a propofal, the propriety of which muft ftrike every perfon 
 who is in the leaft acquainted with the fubjedt. It contain* a lyftem 
 alfo, which, with little alterationj might be accommodated to thefe 
 times. Notwithftanding the immennty' of the prefent load, were it 
 thus transferred from the public to tbe'fevcral individuals in their fuft 
 proportions, the burden would be little felt, in comparifon of what it 
 is; and, in the fpace of a few years, the whole would be totally ex- 
 tinguilhed. It propofes, it is true, an attempt of a bold and daring na- 
 ture ; but if it came recommended by a popular minifter, or a refpedlable 
 committee of the houfe of commons, it might yet meet witli a favourable^ 
 reception frQm the public. It is a matter alfo that may be difcuffed with 
 the utmoft propriety, not only by thofe who are ii\ power, and thofe 
 who are In parliament, but by the public in general : for there is not a 
 Imgle individual in the country,, vvhatever, his flation rrjay. be, who is 
 .not materially afFefted by the debts with whiph the nation is loaded, 
 and whofe comfort and.happinefs will not, in future, depend upon the 
 (Ileps that are taken in regard to thefe incumbrances.. 
 
 Nor was Hutchefon the only perfon, during this reign, who fuggeft- 
 ed the neceffity of adopting efFe<5tual meafures for diminilhlng the na- 
 'tional debts. 
 
 In the year 1715,. Mr.. Afgill publifhed his plan, for the more fpeedy Mr. Afgill's 
 redemption of all the perpetual funds, excepting the original ftock of ^ ^"' 
 the Bank of England *. His idea was, thai: two millions fhould be 
 raifed in fpecie, and depofited in a bank, to fupport the circulation of 
 twenty millions of Exchequer bills, bearing an intcreft of j per cent.y 
 with which aU the redeemable debts, were to be paid off. As an annual 
 intereft, amounting to 1^182,454/. los. ^ d. was then paid for thefe 
 redeemable debts, and as the intereft of the two millions to be bor- 
 rowed, at 6 per cent., and of twenty millions of Exchequer bills, at 
 2, per cent.^ amounted only to 720,000/., it is evident that the public 
 would thus have acquired a finking fund of 462,454/. 10/. ^d. It is 
 faid, that the Bank, notwithftanding the variety of difficulties it had 
 to ftruggle with in the infancy of public credit, and of paper currency, 
 
 * AbftrasTt of the public funds, printed for J. Roberts. An. 1715. 
 
 [N] ' and
 
 9? HISTORY OF THE PUBLIC REVENUE 
 
 and the fituation of public affairs at the time, was able to fupport a cir- 
 •culation of 1,200,000 /., by means of 300,000/., which it had called in 
 from the proprietors. Mr. Afgill therefore computed, that two mil- 
 lions would be fufEcient to maintain the credit of twenty millions of 
 Exchequer bills. The plan was undoubtedly too extenfive ; perhaps, 
 were it tried on a more limited fcale, it might be attended with 
 fuccefs. 
 Stephen Bar- When paper circulation was. firfl; fet-on foot, it was viewed with 
 
 bier s propo- . 
 
 fai. great jealoufy and apprehenfion : but when the minds of men had be- 
 
 come more reconciled to it, and the beneficial confequences attending' it 
 were more clearly perceived, the world rapidly run into a very oppofiPe 
 extreme, and it began to be imagined, that the greateft operations 
 might be effedled by means of this new power ^ , Impi-efled with thefe 
 ideas, Stephen Barbier prefented his expedient to pay the public debts 
 to George I. on the 6th of May ijig.r"''inuoj rfj n. il 
 
 The obje£t of this propofal was to convex-forty millions of the tia^ 
 tional debts into notes, bearing 1 per cent, lefs iwtereft than the original 
 fund, which was thus to be converted ; the converfion was only to 
 take place at the requeft of the creditor, who might thu*;, at any time, 
 obtain both his principal and intereft. Thefe notes were to be current 
 in all pecuniary tranfadlions, and were to be paid in fpecie in fix rnonths 
 after they were prefented for payment. Every perfon muft perceive, 
 that the only poffible advantage which this plan; afforded, was that of 
 reducing the intereft of the funds i per cent, wheh the creditor chofeto 
 convert his ftock into notes, which would not - probably ^be done to any 
 great extent ; and yet the author flattered himfelf^ that he had pointed 
 out treafures more valuable than the mines of Peru, and fuggefted the 
 means of rendering this country, by a fingle flroke of finance, the moft 
 powerful in the univecfe '> • 
 
 ' A very ingenious prppofiil, founded on tliefe ideas, eiitideaJ, *' A Method that will 
 •" enable the Government to pay ofl that Part of the Public Debt which is redeemable by 
 " Parliament," was privately printed in i'^pril 1715, and diftritKifed among the minifters 
 and members of parliament. By this plan, twenty-one millions was to be paid in feven- 
 teen years, by bills of credit, without intereft. 
 
 * See An Expedient to pay the Public Debts, by Stephen Barbier, Gentleman, printed 
 enm 1719. As George I. was not very cpnyerfant in the Englilh language, it was 
 printed both in French and Englifh, 
 
 I Having
 
 OF THE BRITISH EMPIRE. 5<, 
 
 Having thus feen the various plans that were propofed, let us next 
 confider what meafures were really adopted. 
 
 The firrt; ftep that was taken for relieving the nation undoubtedly was, '^''« f^'e "f 
 that important regulation, by which legal intereft was reduced from 6 on pHya'^ 
 to ^ per cent. On the i8th of June 17 14, a member of the Houfe, [*"^"'''"?* 
 whofe name is not known, had propofed to reduce the intereft of the 
 public funds ; but it was dropped, no perfon having feconded -the 
 motion. On the contrary, Mr. Hutchefon, and other members, were 
 ordered to prepare and bring in a bill for reducing the rate of intereft, 
 without prejudice to parliamentary fecurities '. We are much in the 
 dark, as to the grounds on which it proceeded. It appears, however, 
 that fo large a fum as 20,000/. had been lent at only 4 per cent, on 
 private fecurity ' ; and confequently there could hardly be any well- 
 founded objedion on the part of the monied intereft, to the law being 
 enacted. 
 
 The redu£tion of the intereft of the public debts, though not the Reduftion of 
 avowed, yet was the neceflary confequence of the legal rate on private of the public 
 fecurities being thus diniiniftied. Government began immediately to ''^''"■ 
 borrow money upon lower terms. Of this, a fmgular inftance occurs 
 onno 1715. By an adt that pafled that year, 54,600/. per anntim^ was 
 fet apart, as the intereft that muft be provided for in confequence of a 
 loan of 910,000/. propofed to be raifed at that time. But as it was 
 afterwards found, that money could be procured at ^ per cent.; another 
 ad was pafled that very feflion, by which the annuity was reduced to 
 ^p roo/. per anmim '. When new loans were thus raifed at ^ per cent. 
 no good reafon could be afligned why the old debts, redeemable by 
 parUament, ftiould remain at fix. 
 
 The merit of eftabliftiing a Sinking Fund in this country has, in OHginofihe 
 general, been afcribed to Sir Robert Walpole, but erroneoufly ; for Pund"^ 
 other funds of the fame nature had previoufly exifted, and in particular, 
 the furplus of the aggregate fund had been dedicated to pin-pofes exadly 
 fimilar '°. But he, as chancellor of the exchequer, had the charge of the 
 firft important operation of that nature, and undoubtedly managed it with 
 
 » Cotnm. Journ. vol. xvii. p. 689. 
 
 * See Chandler's Debates of the Commons, vol. vi, p. 131. 
 
 9 I Geo. I. feir. 2. cap. 19. "• Ibid. cap. \%. 
 
 [N] 2 great
 
 loo ■ HISTORY OF THE PUBLIC REVENUE 
 
 ■great dexterity and judgment. For he noi only prevailed upon the 
 Bank, and the South Sea Company, to make a confiderable reduiftion 
 in the intereft they received from the public, but alfo voluntarily to 
 offer 5,500,000 /. to government, if it fhould be neceflary, to be applied 
 for paying off the redeemable debts of fuch creditors as were unwilling 
 to accept of 5 per cent, for their principal ", Such an advance however 
 was not neceffary ; and the advantage which the public received from 
 this redu<3:ion, will appear from the following ftatement : 
 
 STATE of the REDUCTION of the INTEREST on the 
 PUBLIC FUNDS, Anno 1716. 
 
 •I. To exchequer bills Principal. InUreJl. Reduced. 
 
 cancelled by the Bank, 
 
 anno lyio ;C*5775>027 7 lOr 106,501 14 5 88,751 7 io| 
 
 a. To fundry other ex- 
 chequer bills due to the 
 
 Bank,beingoriginally 
 
 at the rate of 7/. 4f. |(/. 
 
 intereft 4,561,025 O 328,561 15 6 215,779 13 5 
 
 3. To the South Sea 
 
 capital 10,000,000 o o 600,000 o 500,000 o o 
 
 ^. To other redeemable 
 
 debts, reduced to 5 from 
 
 6 J>er cent.''- £ 9'39i'3" 4 2| 563^538 13 Ss 469,615 11 if 
 
 /25>728,364 2 I 1,598,602 3 4i 1,274,146 12 6 
 /i,274,i46 12 6 
 
 Total annual furplus ;C324»45S 10 io| 
 
 ciaufe ap- A confiderable furplus being thus procured, the next queftion was, 
 
 t'he''frrpl'dcs ^o^^' ^^ fhould be difpofed of? The Commons, on the 216. March 171 6, 
 
 of the funds, had refolved '^., that all favings that fhould arife from the redu£lion of 
 
 ,the intereft, fhould be applied towards difcharging and diminlfhing the 
 
 " A reduftion of intereft was, at that time, not unpopular even among the creditors ; 
 at'leaft, it is faid, that old Bateman (a great ftockholder) told Lord Stanhope, that he 
 was glad the refolutions had been taken; becaufe, though his intereft was diminifhed, he 
 ihould think his principal more fecure than ever. Bolingbroke's Works, vol. iv. p. 150. 
 
 '» There was afterwards added to this fum 140,844/. 6^. 5l</. of intereft, converted 
 into capital. See Poftlethwayt, p. 252. *' Comm. Journ. voL xviii. p. 513. 
 
 national
 
 OF THE BRITISH EMPIRE. lot 
 
 national debt. But on the loth of April, Sir Robert Walpole refigned 
 his fituation in the treafury ; and as the plan of one mlnlfter is feldom 
 relifhed by another, this Important regulation was adually left out of 
 the bill that was brought in. The omiffion, however, was fupplled by 
 an inftruaion to the committee, by which they were directed to provide, 
 that the furplufes of the feveral funds fhould be ftrldly appropriated to 
 the difcharge of the national debts '* ; and the adl Itfdf contained the 
 following memorable claufe" : " And be it further enaded, that all the 
 " monies to arlfe, from time to time, as well of the excefs or furplus 
 *' of an adt made this feflion, for redeeming the funds of the Bank of 
 " England, and of the excefs, or furplus, by virtue of one other a(fl, 
 " made llkewife this feffion, for redeeming the funds of the South Sea 
 *' Company, as alfo of the excefs or furplus of the duties and revenues 
 *' by this adl appropriated as aforefaid, and the overplus monies of the 
 " fald general yearly fund by this aft eftabliOied, fhall be appropriated 
 " to the difcharging the principal and intereft of fuch national debts as 
 *' were incurred before the 25th of December 171 6, and are declared 
 *' to be national debts, and are provided for by parliament, in fuch 
 *' manner as fhall be diredled by any future a£l or acts of parliament, 
 *' to be difcharged therewith, or out of the fame, and to' or for jio?ie 
 " other itfe^ Intent^ or piirpofe -wbatfoever." 
 
 Thefe furplufes have ever fmce been known under the name of The 
 Sinking Fund ; and if, in addition to them, new taxes to the amount of 
 half a million per annum had been Impofed at the fame time, and if the 
 whole had been invariably appropriated to the purpofes above mentioned, 
 the progrefs that would have been made in difcharging our public in- 
 cumbrances would have been rapid indeed. 
 
 The debts of the nation, at the acceffion of the prefent royal family. Origin of the 
 confifted either of redeemable annuities, which could at any time be paid fcheme. 
 off by parliament, whenever money could be procured for that purpofe, 
 or of certain annuities for life, or for terms of years, which might be 
 called irredeemable^ as they could not be difcharged without the confent 
 of the proprietors. It has been already feen, that the former had under- 
 gone a very confiderable redudlon in point of annual intereft ; and it 
 was always in the power of the public, to take advantage of Its Increaf- 
 
 "♦ Conun. Journ. vol. xviii. p. 611. "3 Geo. I. cap. 7, 
 
 insr
 
 loa HISTORY OF THE PUBLIC REVENUE 
 
 ing wealth and credit, to reduce them flill lower. But the irredeemable 
 debts were a burden, which it was difficult to form any plan effectually 
 to remove. 
 
 The South Sea Company was, at that time, by far the greateft public 
 creditor; and it had procured an a£t anno 171 7, by which the proprie- 
 tors of certain fhort annuities (amounting to 134,998/. 12J.) who had 
 yet to run about twenty-three years of their term, from Cliriftmas 
 171 8, were permitted to fubfcribe the refidue of the term, at the rate 
 of eleven and one-half years purchafe into the South Sea ftock, and 
 were to receive 5 per cent, for the principal '^ In confequence of 
 this circumftance, and of an additional advance of about 544,142/. oj-. 
 vo^d. the capital of the South Sea Company was increafed to 
 11,746,844/. 8j-. loirt'. 
 
 The fuccefs with which this operation was attended, induced the 
 company, about the middle of November 171 9, to prefent to Earl 
 Stanhope, then firft Lord of the Treafury, a fcheme " for advancing the 
 ** public credit, and for a certain redudion of the intereft of the whole 
 " debt of the nation to 4 per cent, per annum^ at the end of feven years, 
 *' from Midfummer 1720 ; alfo, for rendering it pradlicable to alter, 
 " change, or even fink the mod burthenfome funds ; and to reduce the 
 *' feveral branches of the cuftoms and excife, into one entire duty." 
 The plan underwent confiderable alterations, in confequence of the ob- 
 fervations made by that noble lord, and Mr. Aiflabie, then chancellor 
 of the exchequer ; and it was particularly infifted upon, that the com- 
 pany fhould advance to the public no lefs a fum' than 3,500,000/. for 
 the liberty of enlarging their ftock, in the manner that had been propofed. 
 This propofal was unfortunately acceded to. I fay unfortunately ; for 
 the higher the public raifed its demands, the lefs prolped there was of 
 the plan proving fuccefsful. 
 
 When the South Sea fcheme, thus altered, was prefented to parlia- 
 ment, the national debt flood nearly as follows : 
 
 •s 5 Geo. I. cap. 17, 
 
 I. Due
 
 OF THE BRITISH EMPIRE. 103 
 
 1. Due to the Bank, being their original fund • - ;^i,6oo,000 
 
 2. Redeemable annuities due ditto - - _ 3>775)0OO 
 
 5.37S»ooo 
 
 3. Eaft India Company's capital » » , „ 3,200,000 
 
 8,57S>ooo 
 
 4. The South Sea capital - - . . 11,746,844 
 
 20,321,844 
 
 5. To all the other public debts and annuities propofed to be taken in by 
 
 the South Sea Company, and computed at - - 30,981,712 
 
 5i»303'SS6 
 
 6. To be paid by the South Sea.Company, for reducing the national debt 3,500,000 
 
 ;£47>8o3,S56 
 
 In addition to this reduftion of the principal, the plan, in procefs of 
 time, would have produced a finking fund, which, when added to the 
 former furplufes, would have been produdive of the greateft advantages 
 to the public. 
 
 STATE of the ANNUAL SAVINGS. 
 
 »i; By converting the long annuities into redeemable ftock . ;C'33>S4i 
 
 a. The jnterell of the 3,500,000/. advanced by the South Sea Company 
 
 zi^pircent. - - - - 175,000 
 
 308,541 
 
 3. To the redudlion of intereft from 5 to 4 fer cent, upon the Company's 
 
 original capital, and the redeemable annuities, to be incorporated 
 
 in their ft«Jck, which reduilion was to take place atMidfummer 1727 235,426 
 
 Total annual faving 543>967 
 
 4. The Sinking Fund then produced per annum . . 636,000 
 
 Total Sinking Fund ;Ci»i79>967 
 
 Thus, anno 1727, a finking fund of near 1,200,000/. was provided, 
 by which the whole debt of the nation would have been foon extin- 
 guifhed, had it been invariably appropriated. 
 
 It is necellary to attend to a very important diftincUon between the Perverfion of 
 
 South Sea plan, as it was originally formed, and as it was afterwards t^^^o^tliSea 
 T-., . . , , Icheme. 
 
 perverted. The ongmal plan was, merely to induce tjie irredeemable 
 
 creditors
 
 104 HISTORY OF THE PUBLIC REVENUE 
 
 creditors to part "with their annuities, confiding of 667,705/. 8/. lit. 
 per annum ^ in long annuities, which did not terminate till the year 1808", 
 and of 121,000/. 8 J. in fhort annuities ;• the value of both of which 
 was perpetually rifing, and pfopcrtionably increafed, as the intereft on 
 the other funds was reduced. No effedlual meafures could be taken for 
 lelTening the public debts, whilft thefe annuities remained irredeemable. 
 It was an objedl, therefore, of the utmoft confequcnce to the public. 
 But unfortunately, other advantages wei^e expeded, which, it was 
 imagined, a competition between the Bank and the South Sea Company, 
 would not a little promote. 
 
 It is faid, that, at firft, the Bank difcouraged all ideas of that nature! 
 But afterwards being chagrined, that an upftart Company fhould thus 
 propofe a plan fo likely to prove beneficial, they were induced to give 
 in propofals, by which they offered no lefs a fnm than 5,500,000/. for 
 the fame privilege which the South Sea Copnpapy were to have acquire4iJ 
 and it was reprefented on their behalf, that, if any advantage was to be 
 obtained by a bargain with the public, confidering the many great and 
 eminent fervices which their corporation had done to government, in 
 the moft difficult times, they flattered themfelves that they ought to be 
 preferred. The South Sea Company were fo much irritated by this op- 
 pofition, that at a general court, they inftrudted their directors, not to 
 lofe the fcheme coji 'what It ivould ; and accordingly, they offered pro- 
 pofals, fecuring a profit of 4,667,000/. to the public ; and by which, 
 if all the redeemable annuities were fubfcribed, the enormous fum of 
 7,567,500/. would be gained '^ ' Terms fo advantageous were immedi- 
 ately accepted of; and a bill was accordingly brought in, which, after 
 fome oppofition, at laft received the full fandtion of the legiflature ". 
 But the competition between the two companies, and the great offers 
 which they had refpedively propofed, made the public imagine, that 
 there muft be fomething more profitable in the fcheme than was at firft 
 fuppofed, or could be fathomed by thofe who were not in the fecret ; 
 and hence, " The imaginations of mankind became eafily heated, and 
 " their paffions fo animated with ideas of inconceivable advantages, that 
 
 " See the propofal, Comm. Journ. vol. xix. p. 246. The propofals given in by the 
 Bank, may be feen in the Hiftorical Regifter for the year 1720, p. 31 and 38. 
 »s 6 Geo. I. cajj. 4. 1 
 
 " they
 
 OF THE BRITISH EMPIRE. ,05 
 
 " they threw away all reafon, and gave themfelves up wholly to 
 " humour ''." 
 
 The profits of the South Sea Company were to arife, i. From the 
 intereft they were to receive from the public on their capital, which 
 ■was to continue at 5 per cent, for feven years : 2. From the advantages 
 of their trade to the South Sea : 3. From a monopoly of the trade to 
 Africa, and the property of Nova Scotia, and of that part of the ifland 
 of St. Kitt's which had belonged to the French. But in the fervour 
 of their competition with the Bank, they had been prevailed upon to 
 give up thefe latter advantages for the prefent, trufling to the promife of 
 the mlnifter, that they fhould afterwards be procured. And fuch was the 
 dilemma to which the company was reduced from thefe circumftances, 
 that nothing but taking advantage of the blindnefs and infatuation of 
 the people, and of that phrenzy of avaricious enterprife in pecuniary 
 fpeculations which prevailed at that time, could give them any pro- 
 fpedt of fulfilling their engagements with the public. Accordingly, a 
 variety of infamous artifices were put in pradice, to enhance the value 
 of their flock ; imaginary advantages were held forth ; a thoufand. 
 groundlefs reports were circulated with regard to acquifitions in the 
 South Seas, '^c. ^c. ; and dividends were voted, which the diredlors 
 very well knew could never be paid, and for which there was no folid 
 foundation. 
 
 ,. The fteps that were taken for the relief of thofe individuals who 
 fuffered by thefe tranfadions, and for the punifliment of the diredors, 
 and their aflbciates in guilt, .is not within the objed of this work to 
 relate. It is proper, however, to ftate the advantages which the nation 
 reaped. At firft, an ad was paiTed, by which (in full for the claims 
 which the public had upon the company) two millions of its capital 
 were funk. Thefe two millions, however, were afterwards revived, 
 together with the annuity attending the fame". But die public, in the 
 firft place, received this advantage, that S'iSi'i^'^^- ^^5 •*"• 7"^- of Io"g 
 annuities, and 97,335/. S^' of fliort annuities, making in all, 632,698/. 
 OS. "j^d. were converted into redeemable ftock (which at this time bears 
 but 3 per cent, intereft) ; and by the bargain with the company, their 
 
 ■9 See a True State of the South Sea Scheme, in folio, p. 30. 
 *• 6 Geo. I. cap. 6. 
 
 [C] capital
 
 ,o6 HISTORY OF THE PUBLIC REVENUE 
 
 t , 
 
 capital was reduced, at Midfummer 1727, from 5 to ^ per cetit. by 
 which the following profit was gained : 
 
 State of the Annual Profit gained by the Public, in confequence of its 
 Bargain with the South Sea Company. 
 
 1. 'By OM per cent, on 13,061,878/. of South Sea capital, reduced 
 
 by the bargain at Midfummer 1727, from 5 to 4 per cent. ^x^ofiii 15 7 
 
 2. By one per cent, on the South Sea annuity, the principal being 
 
 16,901,241/. J 7i. _ — — 169,012 8 4 
 
 3. By one per cent on 4,000,000 /. purchafed of the South Sea Com- 
 
 pany by the Bank of England — — 40,000 o o 
 
 Total ;{:339'63' 3 i^ 
 
 This annual faving, calculated at 25 years purchafe, yielded a profit 
 
 to the public of 8,490,780/.; a fmall fum compared to the advantages 
 
 of which this meafure might have been productive, but much greater 
 
 than what is generally fuppofed ". 
 
 Proprefs of The great objed which minifters feem to have had in view, fince the com- 
 
 thf finking menccment of our public debts, was not to difcharge the principal, but 
 
 this reign, to diminifh the intereft, fo as to render their adminiftration as little bur- 
 
 denfome to the people, and confequently as popular as poflible. Not- 
 
 withftanding principles of a nature fo very unfavourable to the exift- 
 
 ence of a finking fund ; yet during the whole reign of George I. it was 
 
 invariably appropriated to the purpofes for which it had been formed ; 
 
 and, rather than encroach upon it, money was borrowed upon new 
 
 taxes, when the fupplies in general might have been raifed, by dedicating 
 
 the furplufies of the old taxes to the current fervices of the year ", 
 
 Little progrefs, however, was made in difcharging the public debts; 
 
 for at the fame inftant that old incumbrances were thus paid off, new 
 
 debts were contraded. The finking fund alfo, until the five per cents. 
 
 were reduced to four, in the year 1727, hardly amounted to 600,000/. 
 
 per annum ; and in the infancy of fuch a fixnd, its operations are 
 
 very limited and confined. It appears, however, from the famous re- 
 
 »' Advantages which have accrued to the Public, by the Execution of the South Sea 
 Scheme, printed anno 17^6, p. 8. It may be faid, that by 11 Geo. I. cap. 9. 3>775,027/. 
 17 i. \od. was reduced at the fame time to 4. per cent. But that was probably owing to 
 the example given by the South Sea Company of fuch a reduflion. 
 
 " Price's Appeal on the National Debt, edit. 1762. p. 29. note B. 
 
 prefentation
 
 OF THE BRITISH EMPIRE. 107 
 
 prefentation of the Commons, on the progrefs made in difcharging the 
 national debt, voted the 8th, and prefented to his Majefty the nth of 
 April 1728, that the fum of 2,698,416/. had been paid off", between 
 the 1 6th December 1716, and the date of their refolution". 
 
 About the latter end of the former reign, it was a queftion which George II. 
 became not a little controverted, whether the public creditors had 
 a right to infift, that the finking fund fhould be folely applied to dif- 
 charge the principal of their debts. On the one hand, it has been 
 pofitively afl'erted, that no condition of that nature was either ex- 
 preffed or underftood, in all the conferences that were held between the 
 minifter and the public creditors, when that fund was originally efta- 
 blifhed "*. On the other, nothing can be ftronger in fupport of fuch 
 a claim, than the words of the a(Sl of parliament, particularly when 
 joined to the fpeeches from the throne, and the addrefles of both houfes 
 of parliament^'. It is well known allb, that in the year 1726, a very 
 able and intelligent member, conneded with the miniftry at the time, 
 publifhed an elaborate performance, to prove the utility of fuch a fund, 
 and to refute all apprehenfions in regard to its being perverted"*. The 
 fact feems to have been, that at firft it was fuppofed equally for the ad- 
 vantage of the creditor and the public, that it fhould be thus invariably 
 applied. But when it was no longer infilled upon by the creditor, 
 and when the competition came to be, not who fhould hejirji, but who 
 fhould be lajl paid, it was eafy to forefee, that the finking fund would 
 foon be alienated, unlefs protected from the rapacity of miniflers, by 
 ftri<fter regulations than had as yet been enacted. 
 
 ^3 Comm. Journ. vol. xxi. p. 81. 
 
 '♦ Confiderations concerning the Public Funds, l^c. 2d edit, printed anno 1735, p. 13. 
 Nor is it fo much as hinted at in the propofal given by the Bank, or South Sea Company. 
 Hift. Regill. an. 17 17, p. 208. 
 
 " See the extrafts of the fpeeches and addrefle?, in Price's Appeal, p. 26. Note A. 
 
 ^'^ Eflay on the Public Debts of the Kingdom, fuppofed to be written by Sir Nathaniel 
 Gould, 2d edit, printed ajino 1726, reprinted for B. White, Fleet-ftreet, anno 1782. 
 This tradt was twice anfwered, firft by a pamphlet entitled, Remarks on the Eflay, l^fc. 
 printed by A. Moore, anno 1727 ; and fecondly, by Mr. Pulteney's well-known State of 
 the National Debt, printed for R. Franklin, in the fame year. Sir Nathaniel fupportcd 
 his former opinions in a paper, entitled, A Defence of the Eflay, (^C. printed for J. 
 Peele, anno 1727. 
 
 [O] 2 The
 
 io3 HISTORY OF THE PUBLIC REVENUE 
 
 PerverHcn of The firft encroachment maybe traced to the year 1 728-9". It was ne- 
 fund!" "^ ceflary to raife 1,250,000/. for the current fervice of the year; and the 
 minifters boafted, that fuch was the flourilhing condition of the finking 
 fund, that it was very well able to pay the intereft: of that fum, and 
 that there was no occafion to impofe any new taxes upon the people. 
 In vain did a member of the houfe move, that the fupplies fliould be 
 raifed, without creating a new debt upon any exifting fund '^ The 
 motion pafied in the negative without a divifion, and is fligmatifed as 
 having been made, merely with a view of diftreffing government'. So 
 little was the public at large fuppofed to be iutercfted in this important 
 tranfadion. 
 
 The fecond encroachment took place anno 1 730-1 *', when cer- 
 tain duties impofed in the reign of King William, for paying the 
 intereft due to the Eaft India company (which became no longer 
 neceflary for that purpofe, in confequence of their intereft being 
 reduced), was made ufe of as a fund for raifing 1,200,000/. in- 
 ftead of being thrown into the finking fund, as it ought properly to 
 have been; but the final perverfion of this fund took place anno 1732-3. 
 The land-tax in the former year had been reduced to one fhilling in 
 the pound ; and the minifter (Sir Robert Walpole) had by this means 
 rendered himfelf io popular with the landed intereft, that he was de- 
 termined to perfevere in the fame unfortunate fyftem of fecuring his 
 own power at the expence of the revenue. Accordingly he moved, 
 that the land-tax fhould be continued at one (lulling in the pound, and 
 that 500,000 /. fbould be taken out of the finking funJ, and applied to 
 the current fervices of the year ^°. 
 
 It is to the credit of parliament, that the meafure propofed met with 
 a violent oppofition in both houfes : but it is unneceflary to enter into 
 the particulars of debates, which every perfon may eafily obtain, and 
 
 *' By 2 Geo. II. cap. 3. — Mr. Pulteney fays, that the firft encroachment made upon 
 . this fund, was by an increafe of the civil lift} and the fecond, hy taking off the fait duty. 
 Sec Chandler's Debates, vol. vii. p. 228. But ihefe were rather ciicuitous than direft. 
 encroachments. *' Comm. Journ. vol. xxi. p. 206. 
 
 '^ 4 Geo. II. cap. g. J» Comm. Journ. vol, xxii. p. 16. 
 
 perufe.
 
 OF THE BRITISH EMPIRE. 109 
 
 perufe ". The parliament, however (as Dr. Price obferves), not ac- 
 cuftomed to refufe the minifter any thing, agreed to the propofal ; 
 *' and thus expired, after an exiftence of about eleven years, the finking 
 " fund, that facred blefling — once the nation's only hope — prematurely 
 " and cruelly deftroyed by its own parent. Could it have efcaped the 
 " hands of violence, it would have made us the envy and the terror of 
 *' the world, by leaving us at this time, not only tax-free, but in pof- 
 " feliion of a treafure, greater perhaps than ever was enjoyed by any 
 " kingdom "." This learned and refpeclable author has perhaps 
 carried his enthufiafm too far, with regard to the advantages refulcing 
 from an invariable appropriation of this fund ; but he fpeaks with that 
 honeft warmth which every real patriot feels, in a matter fo interefting 
 to the public. 
 
 It is unneceflary to inquire very minutely into the application of the 
 finking fund, after it was thus fatally perverted ; for though it has been 
 occafionally applied for difcharging fome part of our incumbrances, yet 
 it has been much oftener expended in the current fervices of the year, 
 and confequently has not been produflive of any material advantage ; on 
 the contrary, has loaded the public with a heavy burden, to encourage the 
 profufion of minifters, and to difcourage, fo far as a weight of taxes is 
 able to do it, the general induftry of the people. 
 
 Sir Robert Walpole was not only the perfon by whofe means the Rejeflicn of 
 finking fund was perverted, but he alfo exerted his abilities and in- JedJci^ngthe 
 fluence in parliament, to prevent the redudion of a confiderable part intereftofibe 
 of the public debt from 4 to 3 per cent, which might have been eafily \^^ j-^^. " 
 efFeded in the year 1737. The 3 per cents, at that time, bore a pre- 
 mium at the market ; confequently there could have been no difficulty 
 in procuring money at that rate, to pay off fuch of the creditors as were 
 unwilling to agree to the redudion. But the meafure being fuggefted 
 by that inflexible patriot Sir John Barnard, who was generally in op- 
 pofition to the minifter, the whole power of government was exerted to 
 deprive him of the juft applaufe he would have acquired by bringing 
 fuch a meafure to bear. The motions, however, which were made, 
 " that all the public funds, redeemable by law, carrying intereft at 
 
 *' See Hiftorical Regifterv p. 218. Comm. Debates, publUhed by Chandler, vol. viu 
 p. 2S5. i and Lords Debates, publifljed by ditto, p. 489, 
 
 ^* Appeal on the National Debt, p. 38. 151 ..i. 
 
 «four^
 
 no HISTORY OF THE PUBLIC REVENUE 
 
 " four, fhould, with the confent of the proprietors, be reduced to three 
 *'^<fr cent. ;" and " that his niajefty fliould be enabled to borrow any fum 
 " of money that might be neceflary for redeeming the debts of thofe 
 " who refufed to confent to the redudlion;" were voted, after fomc op- 
 pofition. But the bill that was brought in, in confequence of thefe re- 
 folutions, wa,s not even, fent to a committee ". It is aflonifliing what 
 abfurd arguments were made ufe of to prevent this propofal paffmg into 
 a lav(r. It was urged, that fuch a reduction, inftead of tending to in- 
 creafe our trade, and to improve the landed property of the nation, 
 would probably contribute to the ruin of both. The pitiable cafe of 
 widows and orphans, whofe income would be thus diminiflied, was 
 loudly deplored ; and in particular, it was aflerted, that it would prove 
 deftrudlive and ruinous to the capital, in whofe neighbourhood the 
 greater part of the ftockholders and annuitants could no longer afford 
 to live, but would b^ obliged to retire to remote and. cheap diftridls in 
 the country. It was al'fo contended, that the fcheme was impra£licable, 
 though a ftmilar one had been carried into effeft anno 1716, and 
 was again put in pradice under Mr. Pelham's adminiflration. It is 
 difficult to eflimate thp lofs which the public fuftalned in confequence 
 of this propofal having been rejected. The capital of the South Sea 
 company at Chriftmas 1738, when the redudion would have taken 
 place, amounted to 27,300,000/. ; one per cent, on which was 273,000/. 
 per annum. It continued at four per cent, till December 1750, and at 
 three onc-\\&\i per cent, until December 1757. '^^^ difference of in- 
 tereft which the public paid in the interval, amounted to four millions 
 and a half; and when it is confidered, that the other four per cents. 
 might alfo have been reduced ^bout^the fame time, we may in fome 
 degree calculate what the minifter facrilked from a fpirit of op- 
 pofition. 
 Reduaion of But the fame meafure, which, when it was propofed by a private in- 
 An^'tyjo. dividual, was accounted vifionary and impradicable, was no fooner put 
 into the hands of a minifter, thfCn it inftantly became the beft and 
 wifeft plan that could be devifed ; and was adually carried into execu- 
 
 3' Comm. Journ. vol. xxii. p. 834. The divifion was 222 in favour of the firft 
 motion, and 157-againft it. ' But the fecond divifion was very oppofite to the firft; 249 
 being againft the bill, and 134 only for it. This proves how efficacioufly the minifter ha^ 
 made ufe of bis influence to overturn the plan. Ditto, p. 368. . * 
 
 tion,
 
 OF THE BRITISH EMPIRE. n, 
 
 tlon, though In the courfe of the Spanifh war, which began anno 1739, 
 an addition of above thirty millions had been made to the national 
 debt. T'he hiftory of this important financial operation it is proper 
 briefly to explain. 
 
 In the feffion of parliament, v/hich begari In November 1748, Mr. 
 Felham, as chancellor of the exchequer, publicly intimated his inten- 
 tion of embracing the firft favourable opportunity that fhould offer, to 
 reduce the intereft then payable on the greateft part of the national 
 debt; and as fiich a meafure was aft-erwafds recommended to the con- 
 fideration of parliarhent, in a'fpeech from the throne on the 16th No- 
 vember 1749, thofe who were interefted in the public funds had due 
 notice of the intentions of the rnihiftry. Every ftockholder was put on 
 'the fame level ; confequently no unfair advantage could be well taken 
 
 of any individual. 
 
 qfi bovisq 9/iM|5riv7 ,t-3ioqo- 
 
 The four '/fr f-^wf. annuities, at that time, were as follows : 
 
 1. Due to the Bank of England — — 
 
 2. Due to the South Sea Company — — 
 
 3. Due to the Eaft India Company — — 
 
 4. Annuities transferrable at the Bank of England — 
 ■5. Annuities on the plate a<Sj transferrable at the Exchequer 
 
 The firft refolution of the Houfe of Commons, in regard to this re- 
 dudion, paffed on the 29th of November 1749. The purport of it 
 was, that fuch public creditors as received an intereft of 4 per cent. 
 upon their capital, redeemable by parliament, who would fignify, on 
 or before the 28th of February 1749-50, their. acceptance of 2) P^^ ^^^^' 
 intereft from December 1 757, fliould have their debts made irredeem- 
 able until that period, and ftiould receive in the interval, 4 per cent. 
 till December 1750, and three one-half /^r cent, from that time until 
 the whole redudion took place. -It met with no oppofition ; and the 
 commiflioners and ofiicers of the Treafury, and Sir John Barnard the 
 original propofer, were ordered to bring in the bill. 
 
 Every perfon muft perceive, that to difcharge fo immenfe a capital 
 
 at once was totally impradlicable. Yet fuch was the influx of money 
 
 6 into 
 
 £ 8,486,800 
 
 
 
 
 
 27,302,203 
 
 5 
 
 6 
 
 3,200,000 
 
 
 
 
 
 18,402,472 
 
 
 
 10 
 
 312,000 
 
 
 
 
 
 >- ■ « ■ . ■ » 
 
 6 
 
 4l
 
 Ill HISTORY OF THE PUBLIC REVENUE 
 
 into this country, and the high credit which it then enjoyed, that new 
 loans could have been, obtained at 3 per cent, to pay off fome part of the 
 creditors ; and as money would naturally grow cheaper, and more 
 plentiful every year, during the continuance of peace, larger fums might 
 have been borrowed at the fame rate every fucceeding year, and the 
 redudion to '^ per cent, would probably have taken place fooner than 
 it adtually did. The 3/fr cent, annuities then fold at loi ; and as fuch 
 /^per cent, creditors as were paid off (if they replaced their money in 
 the funds), could not receive even 3 per cent, for their money, the offer 
 was evidently in their favour. But ^n idea being prevalent, at the time, 
 that the peace would be of Ihort continuance, and a variety of obje(3;ions 
 having been made on the part of the creditors, fome propofing one plan, 
 and others recommending another totally different, the fcheme was 
 likely to have failed, very few of the ftockholders having figniSed their 
 approbation of the terms propofed, when the period approached. 
 
 It was at this crifis {6th Fiebruary iy*!), that Sir John Barnard, 
 wrote his famous " Confiderations on the Propo.fal for reducing the 
 *' Intereft of the National Debt %" in which, he proved fo clearly, the 
 general utility of the meafure, and the advantages which it would yield 
 to the fubfcribers themfelves, that, before the 28th of February, about 
 forty millions were fubfcribed. 
 
 Little difficulty would have been found to procure money for paying 
 off, in the fpace of a few years, thofe annuities which remained un- 
 fubfcribed. It was therefore refolved, to punifh fuch as fhowed a dif- 
 pofition, by their tardy acceptance, to defeat fo beneficial a propofal to 
 themfelves and the public. Accordingly, a bill was brought in, by 
 which the fecond fubfcribers were reduced from 3 ^ to 3 per cent, at 
 December lyj^; two years fooner than thofe proprietors who had fig- 
 nified their affent to the original propofal. Above eight millions, ex- 
 
 3* Printed by J. Ofborn, anno 1750. In this tra£t, the diftin£lion between apublic 
 and private creditor, is taken notice of. " The latter (he fays) has a right to demand 
 " his n»oney when Jie wants it, which the creditor of the public cannot do." P. 7. 
 He was alfo the author of another excellent tra£t, publiflied on the fame fubjeft, annt 
 1737, entitled, " Reafons for the more fpeedy leflening the National Debt, and taicing 
 *' off the moft burthenfome of the Taxes." 
 
 clufive
 
 OF THE BRITISH EMPIRE. jij 
 
 clufive of the India and South Sea (lock ", were fubfcrlbed on thefe 
 reduced terms ; and the remainder, amounting to three millions and a 
 half, was paid off by new loans at t. per cent., and by the produce of 
 the finking fund. " Thus (fays an intelligent writer), thefe adls were 
 " pafled, which received their currency from the fair charader, both 
 " for knowledge and integrity, of that diftinguifhed patriot Sir John 
 " Barnard, whofe concurrence with the miniftry, procured fuch a quick 
 " paffage through the Houfe to the laws themfelves, and whofe judg- 
 " ment, in matters of that nature, has for many years had fuch weight 
 " with the public, that the fuccefs of the meafure much depended upon 
 *' his afliftance '*." 
 
 The nature of this great operation, will appear in one view from the 
 following flate : 
 
 1 . Subfcription. 'j ^ J • n Unfubfcribed. 
 
 ■I '^ and pojtertor a£ts. •' ■' 
 
 1. Bank flock ^^ 8,486,800 o o 
 
 2. Eaft India ftock — — 3,200,000 O o ■ — — . 
 
 3. South Sea ftock 3,662,784 8 6| — — 
 
 4. South Sea annuities I55335>740 5 o 6,026,785 o 5 2,276,893 ii 7 
 
 5. Bank annuities I4>*^575455 18 4 2,714,117 18 o 830,898 4 6 
 
 6. Annuities on the plate 
 
 aft 126,500 o o 3>250 o o 182,250 o o 
 
 Firft fubfcription ^^ 38,806,496 3 4 15,606,937 6 iif 3,290,041 16 I 
 
 Second ditto 15,606,937 6 iif 
 
 ^54,413,433 10 3f 
 Unfubfcribed 3,290,041 16 i 
 
 jC57>703'47S 6 4I 
 
 As this was the laft important reduction that took place. It may not 
 be improper to give a general view of the three great operations of that 
 nature, with fome obfervations upon the queflion, how far fuch meafures 
 ought to be adopted. 
 
 '5 The South Sea Company, however, received (in confequence of 24 Geo. II. 
 cap. II.) intereft upon their capital of 3,663,784/. 8^. bid. at the rate of 4 per cent. 
 until the 25th December 1757. ' ' 
 
 '* See A difpaflionate Remonftrance on the Nature and Tendency of the Laws now in 
 force, for the Reduftion of Intereft ; printed anno ly^i, p. 11 and 16. 
 
 [P] GENERAL
 
 ,14- HISTORY OF THE PUBLIC REVENUE 
 
 GENERAL VIEW of the principal Rcdudions which have taken 
 place in the Intereft of the Public Funds. 
 
 1. Reduction. 
 
 To the reduced intereft of various funds, from 6 to 5 fer cent. 
 
 (innoijij _ _ _ _ ;t 324,455 10 lOi 
 
 2. Reduction. 
 
 1. To the reduction, by the bargain with the South Sea Com- 
 
 pany, from 5 to 4 per cent, commencing Midfummer 
 
 1727 _ _ _ _ 339,631 3 lo 
 
 2. To the reduftion on part of the debt due to the Bank at 
 
 ditto, in confequence of a feparate agreement, exclufive of 
 
 the four millions purchafed from the South Sea Company 37>750 5 6} 
 
 3. Reduction. 
 
 1, To various annuities, reduced from 4 to 3 per cent, at dif- 
 ferent periods, from Dec. 1750 to ditto 1757, including 
 only the annuities fubfcribed, or afterwards admitted 544,134 6 8* 
 
 J. To 2,100,000/. borrowed at 3 per cent, to pay certain 
 
 unfubfcribed 4 per cent. South Sea annuities — 21,000 o o 
 
 ^1,266,971 6 iii 
 
 For the propriety of fuch redudions, Sir John Barnard has ably con- 
 tended ; nor is it poflible to ftate the arguments in their behalf in a 
 clearer light. 
 
 " When the nation (fays he) is under a neceflity of raifing money, 
 *' more than can be fupplied by taxes paid within the year, they mort- 
 *' gage fome particular taxes for payment of the intereft of a fum of 
 " money borrowed ; and they are obliged to give fuch intereft and pre- 
 " miums, as will induce people to lend their money, let the terms be 
 *' never fo extravagant; and if the public was always to continue to pay 
 " the higheft intereft exadled at the times of lending the money, the 
 " nation muft become overloaded with debts. But care is taken to make 
 " it a condition, and a ftipulation, in the very adl which borrows the 
 " money, that the parliament fhall be at liberty to redeem the annuity 
 " attending the debt, by payment of the principal money, in fuch 
 " manner as the a£l provides. And the parliament is not tied down 
 " to redeem the annuity by the produce of the fund only. If that was 
 
 " the
 
 OF THE BRITISH EMPIRE. ,15 
 
 " the cafe, almoft all the debts contraded, M'ould be for ever irredeem- 
 " able. But the parliament may raife money by what means they can, 
 " and apply it to the difcharge of the capital ; and whenever money 
 " can be borrowed, cheaper than the intereft paid by the public, it is 
 " incumbent on the parliament (with great deference be it fpoken), and 
 '* what the nation have a right to expe£l from them, to make ufe of the 
 " opportunity, in order to give the people in general all the eafe in their 
 " power ^" 
 
 Notwithftanding fuch convincing arguments, and the important cir- 
 cumftance in favour of redudions, that the public, by adopting fuch 
 meafures, is above 1,200,000/. a year lefs loaded than it would other- 
 wife be, yet a modern author, whofe opinions are defervedly refpetled, 
 afferts, " that the nation is likely to fuffer by them, much more than it 
 " has gained ;" and, indeed, is for making all future loans irreducible ^'. 
 
 I am ready to confefs, that fuch reductions, joined to the inattention 
 of our financial minifters, to every thing but providing for the prefent 
 moment, regardlefs of the burdens of pofterity, have been the means of 
 accumulating an artificial capital to a confiderable amount ; but furely 
 that circumftance, however unfortunate, is amply compenfated, by an 
 addition of 1,200,000 I. per anmim^ to our unencumbered revenue. 
 
 " The favings produced by fuch redudions (we are told by the fame 
 ** author) being expended on current fervices, tempt to extravagance ; 
 " give a fallacious appearance of opulence, and by making our debts 
 " fit lighter, render us lefs anxious about redeeming them, and lefs 
 " apprehenfive of danger from their increafe *°." All this may be very 
 true, yet ftill the gain of 1,200,000/. per annum, counterbalances thefe 
 evils. If it tempts to extravagance, it alfo furnifhes the means of wafte, 
 without additional burdens upon the people ; if it makes our debts fit 
 lighter, it prevents the induftry of the people from being overloaded 
 with taxes, and enables them the better to increafe the wealth and 
 
 " Confiderations, &c. p. 3. 
 
 " See Dr. Price's Tracts on Civil Liberty, p. 20r and 203. The firfl: redudlion anno 
 1717, the Doctor thinks, was neceflary in order to begin a finking fund. The others, 
 he totally difapproves. 
 
 ■'o Ibid. p. 202. Alfo the conclufion of Sir Nathaniel Gould's Eflay on the Public 
 Debts of this Kingdom. 
 
 [P] 2 capital
 
 ii6 HISTORY OF THE PUBLIC REVENUE 
 
 capital of the country; and with regard to the appearance of fallacious 
 opulence, which it is faid to afford, nothing but real opulence could 
 furnifh a nation with the ability of reducing the intereft of its incum- 
 brances ; nor are there any means by which its debts could be more 
 fpeedily difcharged, than by taking advantage of any favourable oppor- 
 tunity that may occur of diminilhing the intereft, and applying the 
 favings, thus obtained, to the payment of the capital. 
 
 The pofition above mentioned, feems to have been founded upon a 
 principle contained in the learned author's treatife on reverfionary 
 payments ; in which it is faid, " That it is of lefs importance what 
 " intereft a nation is obliged to give for money ; for the higher the 
 " intereft, the fooner will a finking fmid, properly applied, pay off the 
 " principal *'." This idea has been already fully confidered, and in my 
 apprehenfion, folidly anfwered by two writers who have animadverted 
 upon it. They have urged, that there are certain bounds to the 
 refources of all ftates, beyond which they cannot go without ruin. That 
 if a nation owes a hundred and forty millions, and its refources can only 
 furnifli fix millions towards paying the intereft, and difcharging the prin- 
 cipal, if the rate of intereft was d per cent.^ it muft become immediately 
 bankrupt. Whereas, if by any means the intereft came to be reduced 
 from 6 to 3 per cent., it could not only difcharge the intereft, but could 
 alfo, annually, diminifti the capital. Hence, it appears, that a nation 
 may be fo circumftanced, that the redudlion of intereft may be of fuch 
 importance, that its very exiftence may depend upon it *\ 
 
 There is one circumftance, however, that cannot well be difputed ; 
 namely, that too little attention has been paid to the redudion of the 
 capital. In the whole hiftory of our finance, there is not a fmgle at- 
 tempt of that nature to be met with, except the compulfatory diminu- 
 tion of the bankers debt in the reign of King William ; and that went 
 both to the principal and intereft. It is that fpecles of reduction, 
 therefore, to which our views muft now be extended, as the beft means 
 
 *■ Obfervations on Reverfionary Payments, edit. 1783, vol. i. p. 187. In the firft 
 edition of that work, anno i"]"]!, inftead of /^y}, the Do6lor had flated, that it was oi little 
 importance ; and in the firft edition of the Appeal on the Subjeft of the National Debt, 
 the intereft paid upon loans, is reprefented to be a matter of little or no confequence. 
 
 ** Remarks on Dr. Price's Obfervations on Reverfionary Payments, l^c, printed for 
 J. Lowndes, anni? 1782, p. 23. and Remarks on his Appeal, p. 37. 
 
 2 of
 
 OF THE BRITISH EMPIRE. 117 
 
 of putting our revenue in good order, and of retrieving that credit, which 
 is fo hkely to be overwhelmed by artificial, as well as real burdens. 
 
 When the redudtion was propofed atino 1 749, there were two important 
 queftions which were the fubje£t of much difcuffion. i. Whether the 
 faving ihould be unalienably applied to the difcharge of the capital ? Or, 
 2. Whether taxes to that amount fhould be taken off? 
 
 We find, in the tradt attributed to Sir John Barnard, that many of 
 the creditors were willing to fubfcribe, provided the interefl: thus re- 
 duced, was tied down to the payment of the principal, and could not 
 by any means be diverted from it ; and that excellent citizen himfelf, 
 declares, that the beft ufe to be made of the finking fund, is to tie down 
 abfolutely a good part of it to the payment of the debts *'. But he is at 
 the fame time of opinion, that this is not the only good ufe which may 
 be made of it ; nay, he goes fo far as to affert, " that to whatever ufe 
 " the finking fund may be applied, the nation muft be benefited. That 
 " when part of it is appropriated to the current fervice of the year, it 
 " prevents fo much being raifed by new taxes ; and that it is beft to be 
 *' in poffeflion of the intended favings, before the ufes be determined." 
 
 Unfortunately, however, when once the favings were fecured, no 
 fteps were taken to tie down the inviolable appropriation of fo confider- 
 able a furplus, for the extintlion of our incumbrances. 
 
 Nor did another plan, agitated at that time, meet with a better fate. 
 
 It was urged, with confiderable ftrength of argument, that by fuch a 
 reduction, the income of the creditor was curtailed ; and yet his expences 
 continued the fame ; whereas, if the taxes, which enhance the price of 
 every commodity were taken off, the lofs which the native refident 
 creditor fuftained, would be greatly diminifhed, and the nation in 
 general would be relieved from many of thofe burdenfome duties which 
 check its induftry and commerce, and by which, more than double the 
 fum that is paid to the exchequer, is extraded from the pockets of the 
 people **. 
 
 Every friend to the intereft of this country will regret, that one or 
 other of thefe meafures was not adopted. If an unalienable finking 
 
 *^ Confiderations, i^c. p. 28. 
 
 *♦ See A difpaflionate Remonftrance on the Nature and Tendency of the Laws now in 
 force, for the Reduction of Intereft, p. 23. 
 
 fund
 
 „3 HISTORY OF THE PUBLIC REVENUE 
 
 fund had been eftablifhed, it would have been fully afcertahied before 
 this tune, how far fuch a plan is entitled to all the praifes which have 
 been laviflied on it ; or if taxes to the amount of above half a million 
 had been taken off, the effedls of diminifliing the burdens of the people 
 would not have been at this hour problematical. Every difficulty with 
 regard to the proper application, or the entire abolition of a fmking 
 fund, would have been removed; and the fleps now to be.purfued, 
 would have refted, not on arguments (which are too often fallacious), 
 but on experience, which cannot err. 
 
 It would be improper to conclude this fubjed, without taking notice 
 of a very important circumftance ; namely, that the plan propofed in 
 1749, for reducing the intereft of the funds, was as loudly exclaimed 
 againft, as being contrary to the faith of parliament, and likely to 
 deftroy the whole credit of the nation, as any meafure could well be. 
 When the ftockholders were affembled to take it into their confidera- 
 tion, it was generally reprobated. The Bank refufed its confent ; the 
 Eaft India Company were greatly diflatisfied " ; and from the account al-_ 
 ready given, it appears, how many other difficulties it had to flruggle 
 with. By this example, our minifters fliould be encouraged, not to be 
 alarmed by groundlefs clamour, nor terrified from carrying ufeful mea- 
 fures into effedl, from ideal apprehenfions, that public credit is of fo 
 tender and delicate a nature, that it cannot bear the flighteft touch, or 
 minuteft alteration. If that had been the cafe, our credit could never 
 have furvived the operation we have been confiderlng. 
 Mr. Hooke's There is nothing farther, of any great importance, connected with 
 ^'^"' o the prefent fubjeft, during the reign of George XL, which deferves to 
 be particularly taken notice of; except Mr. Hooke's admirable Effiay 
 on the National Capital, and the plan that he propofed for difcharging 
 the national debt. 
 
 The debt, which then amounted to nearly eighty millions, this inge- 
 nious author calculated was not a twelfth part of the national capital, nor 
 the annual intereft of it at 4 per cent.^ a thirtieth part of the national 
 income. To pay off, therefore, fo flight an incumbrance, when com- 
 
 ♦5 Difpaflionate Remonftrance, p. 29. Annotations on Sir John Barnard's Trait, 
 p. I. 16, ^c. 
 
 pared
 
 OF THE BRITISH EMPIRE. ,15 
 
 pared to the national capital, he contended was of lefs confequence to 
 the community tlian was generally imagined ; and the debt, he aflerted, 
 might be increafed to double the fum without any real danger of a na- 
 tional bankruptcy *°. But, as others might be of a different opinion, he 
 added a plan well entitled to the moft mature confideration. 
 
 " Let the eighty millions debt be divided into eighty equal parts of a 
 " million each, to be paid off feverally, by an equal number of fepa- 
 " rate and independent claffes of fubfcribers, whofe refpeftive confti- 
 " tuents fliall, in confideration of fuch fubfcriptions, be jointly and fe- 
 " verally interefted in an equivalent annuity, to be granted to each clafs, 
 " for the term aforefaid, with benefit of furvivorfhip. 
 
 " Let it be enaded, then, that the intereft of one million, at 
 " three one-half per cent., be converted into a capital annuity of thirty- 
 " jive thoufand pounds, and granted, for ninety-nine years abfolute, to 
 " any body or clafs of fubfcribers, who, in confideration thereof, will 
 " advance the fum of one million towards difcharging fo much of the 
 " national debt. 
 
 " That the one million, {o to be fubfcribed, be divided 'vc\X.o four thon- 
 '■'■ find ■\^z.xXs> or fliares of tisDo hundred and ffty pounds, and the capital 
 " annuity of thirty-five thoufand pounds, into four thoufand leffer an- 
 " nuities of eight pounds fifteen {hillings each, anfwerable to the faid 
 " number of fhares, and vefted in the individuals of each clafs, in 
 " proportion to the number of fliares fubfcribed by them feverally and 
 " refpedtively. 
 
 " That every perfon fubfcribing two hundred and fifty pounds, or 
 " one ftiare, be entitled to one of the faid leffer annuities during the life 
 " of any perfon he fliall nominate, fubjeft to the limitation in the faid 
 " grant, and fo in proportion to any greater number of fliares ; pro- 
 " vided always, that the number of his nominees be ever equal to the 
 " number of his fliares. 
 
 " That, in confideration of his finking the principal money, every 
 " fubfcriber be further entitled to fuch annual augmentation of his an- 
 
 ♦* See an Eflay on the National Debt and National Capital, by Andrew Hooke, Efq. 
 printed for W. Owen, anno 1750. p. 44. 
 
 " nuity.
 
 i20 HISTORY OF THE PUBLIC REVENUE 
 
 " nuity, or annuities, as fliall, from time to time, accrue by cafualties of 
 " mortality among the nominees of fuch clafs ; fo that, before the ex- 
 " piration of the original term, the whole capital annuity of thirty-Jive 
 " thotifand pounds may veft in fuch fubfcriber or fubfcribers, or his or 
 " their reprefentative, as the cafe fhall happen, whofe nominee, or no- 
 " minees, fhall be the laft furvivor, or furvivors, of the faid clafs. 
 
 " That the government creditors have the preference to all other fub- 
 " fcribers, for fo much principal money as fhall, at the time of fuch 
 " fubfcription, be adlually and bona fide due to them from the crown ; 
 " and that, notwithftanding the claffes, as fuch, are, by this plan, to 
 " be independent of each other, yet that individuals may become fub- 
 " fcribers in as many claffes as they plcafe, and their nominees in one 
 *' clafs be nominees in every other clafs, as they fhall think fit. And 
 " laflly, 
 
 " That the government, on payment of the capital annuities of 
 *' thirty-five thoufand pounds to the feveral claffes, be abfolutely dif- 
 " charged from all future claims of individuals, touching their refpec- 
 *' tive fhares, proportions, and interefts, therein ; and that all matters 
 " relating thereto be tranfadled among themfelves, and determined by a 
 " court of diredors, to be eleded and appointed in fuch manner as 
 *' fhall be thought fit, who, by law, fhall be fully authorifed and em- 
 *' powered to make the refpedtive dividends, and, from time to time, 
 " adjuft all claims thereto ; fubjett, neverthelefs, to an appeal to the 
 " Lords of the Treafury, who, in a fummary ivay^ fhall finally hear 
 *' and determine the fame *'." 
 
 It is in general to be remarked, on every plan that has been propofed 
 for paying off the whole of the national debt, with the voluntary con- 
 fent of the creditors, that no one fcheme will fuit the ideas of every in- 
 dividual of which that numerous body is compofed. Each different 
 fpecies of flock has its refpedive friends and favourers. Some prefer 
 perpetual, others temporary annuities. One fet of men look no farther 
 than themfelves ; whilft another is anxious to fecure fplendour and opu- 
 lence to their pofterity. And in regard to Mr. Hooke's fcheme, as no 
 inconfiderable part of our public funds belongs to corporations, to whom 
 
 *' EfTay, p. 46. 
 
 an
 
 OF THE BRITISH EMPIRE. lar 
 
 an annuity of 99 years would in no refpedt be eligible, it is probable, 
 that nothing but compulfion would inducethem to agree to fuch a pro- 
 polal. 
 
 But though it is liable to thefe objeftions, when carried to an ex- 
 treme, yet, on a more limited fcale, and with fuch alterations as would 
 be fuitable to the prefent ftate of our funds, the plan might be tried 
 with perfedt fafety to the public. Though borrowing money on tem- 
 porary annuities is wretched policy in time of war, when the ftate is 
 in the power of the money-lender ; yet, in a time of peace, the lender 
 is the fervant of the borrower^ and better terms may be procured. 
 And if there were a fet of men fpecially appointed for the fole purpofe 
 - of difcharging the incumbrances with which the nation is loaded, great 
 advantage might be reaped, by embracing favourable opportunities of 
 altering the nature and form of our fecurities, in the manner the mod 
 advantageous to the public, and the beft calculated to gratify the views 
 and wifhes of individuals. 
 
 At the conclufion of the war, which ended anno 1762, the unfunded George IIL 
 debt amounted to about fixteen millions. Until that unfhapen mafs 
 was brought into fome form, no eifetSual fteps could be taken for di- 
 minifhing our incumbrances. But when that objeiil was accomplifhed, 
 no good reafon can be afligned, why fome effectual fyftem was not 
 purfued for bringing our finances into good order. A more favourable 
 opportunity never exifted. At firft, indeed, our funds (for reafons 
 which are ftated by an excellent political author *') did not rife in the 
 fame proportion that they did after the peace of AIx la Chapelle : but 
 wealth abounded In the country ; the value of the flocks was increaf- 
 ing every day ; and mortgages were obtained, for Immenfe fums, on 
 private lecurity, at 3 and a half per cent. Thefe profperous times, 
 however, were fuffered to pafs away unheeded, amidft the fquabbles 
 of party. 
 
 During the late peace, 10,739,793/. of debts, funded and un- q^j^^ ^^^ 
 funded, were paid off*'. But that reduiTtion did not take place from off. 
 favings out of the ordinary revenues of the ftate : for it is calculated, 
 
 *■ Polit. Econ. vol. ii. p. 399. 
 
 *i Dr. Price's Trads on Civil Liberty, p. 177. 
 
 [ Q.] by
 
 ,22 HISTORY OF THE PUBLIC REVENUE 
 
 by a moft refpedlable author, that above five millions of that finall di- 
 mirvution arofe from extraneous articles, fuch as the balances in the 
 hands of different public accountants ; the produce of the French 
 prizes ; compofitions for French prifoners ; the fum paid by the Bank 
 for the renewal of its charter ; and two millions received from the Eaft 
 India Company, in lieu of the claim which the public had to the terri- 
 torial acquifitions, &c. &c.*° We were beginning, however, to furmount 
 our financial difficulties, when the late unfortunate war again threw us 
 into a gulph of mifery and oppreffion, from which it will be difficult 
 to emerge, unlefs every individual in the great vefTel of the ftate lends 
 his moft ardent and zealous affiftance. 
 
 It is propofed to conclude the prefent chapter with a general view of 
 the funded debts that have been paid off fince a finking fund was cfta- 
 blifhed, and with a few obfervations on the neceffity of making fome 
 alteration in that branch of our finances. 
 
 State of the Funded Debt paid off fince the iirft 
 eftablifliment of a Sinking Fund". 
 
 Year. 
 
 1723 - - - ;^i, 204,786 3 4^ 
 
 1724 - - - - 333'447 18 4 
 
 1727 - - - 650,453 2 84. 
 
 1728 - - - 1,000,000 o o 
 
 1729 - - - 1,275,027 17 IO| 
 
 1730 _ _ _ 1,000,000 o o 
 
 1731 - - - 1,000,419 16 4 
 
 1732 _ - - 1,000,000 o o 
 
 1733 - - - ^'^Z.^'i^S 15 3^ 
 
 1734 - - - 86,884 4 8^ 
 
 ;C8,464,i34 18 7:J. 
 
 so Wealth of Nations, vol. ii, p. 555. 
 
 " Prior to the year 1723, the finlcing fund was applied to cancelling exchequer bills, 
 and other unfunded debts. 
 
 1736
 
 OF THE BRITISH EMPIRE. i2j 
 
 Year. 
 1736 
 
 »737 
 ^733 
 
 1751 
 
 1752 
 
 1765 
 1766 
 
 1767 
 
 1768 
 
 1769 
 
 1770 
 
 1772 
 
 1774 
 1775 
 
 Brought over 
 
 ;{'8,464,i34 
 
 18 
 
 7t 
 
 - 
 
 1,000,000 
 
 
 
 
 
 - 
 
 1,000,000 
 
 
 
 
 
 - 
 
 1,000,000 
 
 
 
 
 
 - 
 
 368,771 
 
 2 
 
 4 
 
 - 
 
 821,270 
 
 13 
 
 9 
 
 - 
 
 870,888 
 
 5 
 
 St 
 
 - 
 
 870,888 
 
 5 
 
 5r 
 
 - 
 
 2,616,776 
 
 10 
 
 II 
 
 - 
 
 1,750,000 
 
 
 
 
 
 - 
 
 875,000 
 
 
 
 
 
 - 
 
 1,500,000 
 
 
 
 
 
 - 
 
 1,500,000 
 
 
 
 
 
 - 
 
 1,000,000 
 
 
 
 
 
 - 
 
 1,000,000 
 
 
 
 
 
 "^24,637,729 16 6^ 
 
 It is unneceflary to trouble the reader with an account of the ««- 
 funded debts which have been difcharged, and the manner in which 
 the finking fund has in general been expended, as that fubjed: alone 
 would require a volume to elucidate, and may be feen in another work 
 dedicated to that fpecial purpofe ". We fhall now, therefore, proceed 
 to confider that important and interefting queftion — What is the befl: 
 mode of applying the furplus revenue of a ftate ? 
 
 There are two methods which a nation might purfue, and by adopt- T**'" modes 
 ing either of which, the funding fyftem might be carried on without a furpius^of^ 
 much inconvenience to the public. The firfl is, employing the furplus 
 of its revenues in promoting fuch meafures as may augment its wealth, 
 
 '» The fums put down in the years 1751 and 1752, were to difcharge exchequer bills 
 iffued to pay off certain annuities unfubfcribed, when the reduclion of intereft took place, 
 unno 1749. 
 
 ■^ Sir Charles Whitworth's Annual Abftradt of the Sinking Fund, to the lOth of 
 O£lober 1763; printed anno 1764. This, and other ufetul compilations, publiflied by 
 the fame author, ought to be continued at the public expence. 
 
 [Q^] 2 population, 
 
 revenue.
 
 124 HISTORY OF THE PUBLIC REVENUE 
 
 population, induftry, and commerce : the fecond, employing the fame 
 iiirplijs in a perpetual diminution of its public incumbrances. By the 
 firft, public debts are rendered lighter and more fupportable ; by the fe- 
 cond, their accumulation is prevented. 
 i.Firllmode. "Whoever confiders the financial hiftory of this countr\% mufl be 
 
 Encouraging _ . _. ^ 
 
 private accu ■ aftonlflied at the immenfe refources it has poffefled, and the great 
 mu auon. •vvgalth which has been amaffed in it, by the induftry of its inhabitants. 
 It is, however, a curious fubje£l of political fpeculation, whether that 
 wealth might not have been greatly augmented, if the furplus of its 
 revenue, inftead of being employed in diminifhing its debts, had been 
 expended in the encouragem'ent of induftry ; in promoting the cultiva- 
 tion of the foil, and in extending commerce and navigation : if, for 
 example, twenty-four millions, which have been applied to difcharge 
 our public debts, had been dedicated to fuch beneficial public purpofes, 
 whether the nation would not have been, at the prefent moment, in a 
 richer and more flourilhing fituation ? 
 
 The mercantile fyftem, as it has been called, has received fuch a blow 
 from the writings of a refpedtable modern author '*, that it is with 
 confiderable diffidence we venture to fuggeft the poffibillty of its being 
 extended to advantage. But the happieft theory, fupported by the 
 moft plaufible arguments, may be invalidated by a fingle fad. Not- 
 withftanding every objeQion which has been urged againft this fyftem, 
 *' though its mean and malignant expedients have diminilhed, inftead 
 " of increafing, the whole quantity of manufacturing induftry main- 
 " tained in Great Britain ; though it difcourages the improvement of 
 *' land, and hurts the intereft of every order in the ftate, to promote 
 I " the little intereft of one little order of men ; nay, though it is un- 
 
 *' favourable to the revenue of the fovereign " ;" yet, with all thefe 
 difadvantages, the country has fioin-iftied under it. Its riches have mul- 
 tiplied without bounds ; its revenue, in lefs than a century, has in- 
 creafed above thirteen millions ^^r anmim ; nor has any one attempted 
 affign any other reafon for all this profperity, in addition to the freedom 
 of its government, but the commercial encouragements which have 
 
 '* Wealth of Nations, by Dr. Adam Smith, vol. ii. 
 IS Ibid. vol. ii. edit, i- p. 217, 218, 219, and 497. 
 
 13 been
 
 OF THE BRITISH EMPIRE. 12^ 
 
 been enabled by tbe legiflature, and the attention which has been flievvn 
 to promote the induftry and exertions of the people. 
 
 Among the regulations of the mercantile fyftem, none feems to 
 have been more unjuftly reprobated, than the meafures it has propofed 
 of employing fome part of the farplus of the revenue in promoting • 
 induftry where induftry is unknown, in bounties upon the exportation 
 of our commodities, or in the encouragement of ufeful undertakings, 
 which, without fome public afliftance, could not be attempted. 
 
 The northern parts of Scotland are furrounded by an ocean, in 
 which the moft valuable fifheries might be carried on with profit. But 
 the inhabitants of thofe diftrids, ignorant of the bleffings of induftry, 
 unacquainted with the means of conducting commercial undertakings 
 fuccefsfully, and without capital to enable them to begin, have long 
 enjoyed this natural advantage, without reaping from it any real be- 
 nefit. How foon might the fcene be altered, were proper encourage- 
 ment given to their exertions ! Nor would the general wealth of the 
 country alone be augmented. The addition that might be made to 
 the maritime ftrength of the kingdom, by adopting fuch a meafurc, 
 would be ineftimable '\ * 
 
 England has been under the neceffity of impofing upon itfelf fuch a 
 heavy load of taxes, that neither the produds of its land, nor all the 
 manufa£lures of its people, can ftand a competition with thofe of other 
 powers in foreign markets. The exportation therefore of grain, and of 
 fome 01 her articles, has met with encouragement from the legiflature ; 
 and bounties have been given, " which have operated, like the warmth 
 *• which, in a human body, one member communicates to another, when 
 " it ftands in need of it "." Were thefe bounties to be encreafed from 
 the furplus of the national revenue, how much might not agriculture be 
 extended ; to what a height might not our commerce be raifed ; and 
 how foon might not Great Britain become the emporium of Europe ! 
 
 " Some bounties have been given to bufles and on herrings exported, but the expence 
 has been great without any real benefit. 1 he high price of fait, proper for the purpofe of 
 curing, aad the difficulty of obtaining cades in a diflant and indigent country, are the 
 principal obftacles to the fuccefs of the fifliery, and to remove which the legiflature ought 
 to be the more attentive, as it may be done at litde expence. 
 
 " Foftlethwayte's True Syftem, vol. ii. p. 380. 
 
 But
 
 126 HISTORY OF THE PUBLIC REVENUE 
 
 But the queflion to which the reader's attention is more particularly 
 called at prelent, is, if the fiim that has been taken from the finking 
 fund, and applied to the difchargc of our funded incumbrances, had 
 been expended folely in making Great Britain one populous and culti- 
 » vated field or garden ; whether the nation could not have borne the 
 whole debt with lefs difficulty than it now can fupport the debt as it has 
 been reduced ? Twenty-four millions laid out in promoting the im- 
 provement and cultivation of the foil, would have rendered every acre 
 in the kingdom produ(5live of fomc valuable article. The whole country 
 would have exhibited one uninterrupted fcene of labour and fertility. 
 No more well-founded complaints would be heard, that the number of 
 the people had decreafed, that the poor wanted encouragement to in- 
 duft;ry, or the means of employment. 
 
 But laying alide the farther difcufilon of a fubjedt which it is proba- 
 ble the condudl of a neighbouring kingdom will foon clear up by the furefl 
 of all tefts, that of experience " ; let us next fee by what arguments 
 another mode of applying the furplus revenue has been fupported. 
 2. Mode. There is no axiom in Euclid more felf-evident than this, that if the 
 
 laula'tion""' ^l^^ts of a nation are never diminifhed, and if no fteps are taken to pro- 
 mote the increafe of its wealth, it muft foon be involved in the greateft 
 mifery and diftrefs. If the furplus of its revenue therefore cannot 
 fafely be expended in the encouragement of its agriculture, its induftry, 
 and its commerce ; " if the fovereign, in attempting to perform fuch a 
 *' duty, is expofed to innumerable delufions; and if directing the induftry 
 " of the people towards employments the moft fuitable to the general 
 " interells of fociety, is a taflc for which no human wifdom or know- 
 *' ledge could ever be fufficient," nothing then remains, but to ftrain 
 every nerve to leflfen the public debts by the annual application of a fum, 
 not like the prefent finking fund, fometimes to one purpofe, and fome- 
 times to another, but invariably to the difcharge of our incumbrances. 
 
 To prove how efficacious fuch a fund would be, let it only be confi- 
 dered, that if a million were inviolably appropriated, it would difcharge, 
 in the Ihort fpace of fixty years, a capital of nearly three hundred and 
 
 " During the reign of the late King of Pru/fia, he tripled the number of his fubjefls. 
 He found two millions at his acceffion to the throne, he acquired two millions more by 
 conqueft, and the fame number by an increafe of population. The latter altogether owing 
 10 the judicious meafures he purfued for improving his kingdom, \)y public encouragement. 
 
 feventeen
 
 OFTHEBRITISHEMPIRE. ' 127 
 
 feventeen millions of 3 per cents. ^ at the price of feventy-five/^r cent.^^ : 
 confequently, if we were engaged in wars equally expenfive with thofe 
 which have taken place for fixty years back, namely, fince the year 
 1723, which is hardly to be conceived ; and if thofe wars were to coft 
 the nation two hundred millions for extraordinary expences, yet, at the 
 end of that period, we fliould be one hundred and Jeventy millions lejs in 
 debt^ than we are at prefent ; and at the end of an hundred and twenty 
 years, if the fame plan were perfevered in, the whole of the prefent 
 national debt would be paid off, together with another additional two 
 hundred millions, which it might be neceffary to borrow, in the fecond. 
 period of fixty years, for the public defence. 
 
 The firft objedlion to an unalienable finking fund, Is, that it would 
 be abfurd to employ money in the paying off old debts, if a nation is at 
 the fame time under the neceffity of contradling new incumbrances^ 
 This argument is too plaufible not to carry with it fome weight. But 
 the plan may be formed fo as to remove this obftacle, without deftroy- 
 ing the certain advantages of an unalienable fmking fund. Let the 
 public, in times of emergency, bon^ow from that fund what money it 
 can fpare, hut let it at the fame time provide a fund for defraying the in- 
 terefl of the money that it borrows^ giving the fmking fund a propor- 
 tionable fliare of the new loan '°. If that rule is obferved, the public will 
 not be deprived of fo important a refource, whilft the certain effeifls of 
 an unalienable fmking fund will not be dinTiiniflied. In the fpace of 
 fixty years, it will be poiTeffed of a capital of three hundred and feven- 
 teen millions of 3 per cents., and it muft be indifferent to the public^ 
 whether that capital confifts of old debts, or of more recent burdens^ 
 
 By fuch a plan aho, a very plaufible objedlion is removed, that it 
 would be impoffible to protedl fuch a fund from the rapacious violence 
 of minifters. For, let it be made ufe of when the public fervice requires- 
 it ; but at the fame time, let not its beneficial effects be put an end to, by 
 annihilating the fum that is taken from it. Render that fum produdtlve;: 
 let it enjoy a certain annual intereft, and the procels cannot be defeated.. 
 
 '9 Maferes on Life Annuities, vol. i. p. 294. 
 
 '" This fuggeftion, was the foundation of the famous claufe which Mr. Fox moved on 
 the I2th of May 1786, above twelve months after the author had tJius publicly recom- 
 mended it ; and which Mr. Pitt praifed as one of the beft meafures that had ever been, 
 propofed in parliament. See PaiJ, Regifter, vol. xx. p. 201.. 
 
 11&
 
 128 HISTORY OF THE PUBLIC REVENUE 
 
 The fecond objedlion refts upon the many evils with which a load 
 of taxes is accompanied ; and which an unalienable finking fund has in 
 fome degree a tendency to accumulate. It has been urged, " that 
 *' taxes are taken, not out oi ^dead^ barren^ uuproduB'ive fund, but out 
 *• of the TC\o^ prolific of all funds; out of the national ftock of indiiftry, 
 *' and taxable capacity. They are a part of that ftock, which, if 
 *' left in the hands of the individual, would, at the end of the year, 
 ** have produced him an iiitereji^ which intereft would have again 
 " become the ^zx&nloi another intereft, and would have accumulated juft 
 *' as much fafter in his hands, than in the hands of the public, as the 
 *' rate of intereft which he may make in his private affairs, is fuperior 
 *' to that in the public funds. Adding at the fame time to his fide of 
 *' the account, the expences of colled:ion and management on the part 
 *' of government :" and we are told, " that the people lofe compound 
 *' intcrcji of every fhilling which they fend into the exchequer ; and 
 *' that too at a much higher rate of intereft in general, than can poffibly 
 " be made of it after it has got hither "." 
 
 So plaufible an objection, nothing but experience could refute. But 
 It is now indifputably afcertained, that this country was poffefled of re- 
 fources which rendered all apprehenfions of that nature ideal. Who can 
 now doubt, that an additional fum fufficient to have extingullhed the 
 ■whole of our prefent debt might have been annually raifed in former 
 times without opprefTmg the people ? It would have required, it is true, 
 more popular or abler minifters. They muft have facrificed, perhaps, 
 fome fhare of their own emoluments, to have roufed a proper fpirit in 
 the nation ; and the public muft have been convinced, that the manage- 
 ment of their affairs was in the hands of men who had nothing but their 
 intereft at heart, and who had devoted their time and labours for the be- 
 nefit and falvation of their country. In fuch a cafe, it will be hardly dif- 
 f uted, that no backwardnefs would have been found in the Britifh nation 
 in fubmitting to any tax that would have been neceffary for that purpofe. ' 
 
 Befides, taxes do not alone affed: the induftrious part of the commu- 
 nity. When wifely impofed, they in general fall upon the idle con- 
 fumer, who feldom thinks of making compound interejl of the money he 
 might fave, if no fuch tax exifted. I fay might fave : for if the tax did 
 
 *' Remarks on Dr. Price's Appeal to the People, printed anno 1772, p. 8 and 10. 
 
 not
 
 OF THE BRITISH EMPIRE. 129 
 
 not exlft, the money, Inftead of being faved, would probably be 
 wafted in the purchafe of luxurious foreign fuperfluities. A fmall 
 additional duty upon porter, an additional land-tax of only fix- 
 pence in the pound, or (according to Dr. Price), a tax upon 
 celibacy, impofed at the accefhon of the prefent Royal Family, 
 would, before this time, have extinguifhed a confiderable portion 
 of our debts. What pofTible evil could have arifen from any of 
 thefe taxes ? Would lefs porter have been confumed ; fewer of 
 our fields been cultivated ; or would the population of the country 
 have been decreafed ? Evei"y one muft anfwer thefe queftions in the 
 negative. 
 
 The only remaining objecTtions to an unalienable finking fund, 
 are the power which it is fuppofed it would put into the hands 
 of the minifter ; the encouragement that it would afford to ftock- 
 jobbing; and the fluduations which it would occafion in the price 
 of the funds, according as fmall or great fums were fent into the 
 market. 
 
 But thefe objedlions are eafily removed. For in the firft place, 
 fuch a fund ought to be confided to the care of commiffioners ap- 
 pointed for that fpecial purpofe, and not entrufted to any of thofc 
 fluctuating boards which at prefent exift. Such commiffioners 
 ought to confift partly of certain great officers of State, who fhould 
 be entitled, ex officio^ to a feat at the new board (to adl occafionally 
 as a check upon the efficient commiffioners), and partly of refpe£lable 
 individuals, to whom the real management of the bufinefs fhould 
 be committed. To give the latter every chance for permanency, the 
 number fhould be fo few, that their removal could be no objedl to a 
 party in oppofition, fhould it chance to prove vi(5loriou3. The 
 money to be applied for purchafing flock, or difcharging any par- 
 ticular branch of the funds, fhould be laid out either weekly or 
 monthly, and not brought at once into the market ; and before 
 any flock was purchafed, public intimation of it fhould be iffued : 
 every ftockholder fhould be invited to give in his propofals for the 
 flock he held ; and the commiffioners fhould be tied down, under 
 tlie £tri<Sleft penalties, to accept of the loweft offer, or to divide 
 
 [R] the
 
 ,3© HISTORY OF THE PUBLIC REVENUE, &c. 
 
 the fum to be paid out proportionably among thofe whofe terms were 
 equal "'. 
 
 Under thefe regulations, unalienable fmking funds may be fafely and 
 ufefully eftablifhed. 
 Conclufionof Whoever has attentively confidered the fubjed treated of in this and 
 t IS ap er. ^^^ preceding Chapter, will probably be of opinion, that our prefent 
 diftrefles are in a great meafure owing to our want of experience in 
 regard to the funding fyftem. Neither our minifters nor the public had 
 the example of any ftate, in ancient or in modern times, to guide them 
 through fo intricate a labyrinth. The obje£l, therefore, they kept in 
 view, was merely to relieve the preffure of the prefent moment, trufting 
 that pofterity would fmd out what remedy fliould be applied, to prevent 
 a ruinous accumulation of the burden. But had we now the fame 
 courfe to run, our ftatefmen, inftrudied by paft events, would find little 
 difficulty in conducing the greateft and moft complicated operations of 
 finance; nor would the public at large be at a lofs to know, what 
 meafures were neceflary to be taken, for the general intereft of the 
 community. 
 
 ®* By Mr. Pitt's plan, the buying of the flock is intrufted to a broker, who purchafes^ 
 weekly at the market j the whole ftock to be bought at the time. This furnifties an 
 opportunity for fpeculation and fraud ; and any fet of opulent men combining together 
 might acquire enormous fums, by purchafing all the loofe ftock in the market, the day 
 before the public broker muj} buy, and felling the fame ftock to him the next day on their 
 own terms. Whereas, by the meafure above fuggefted the public could not poffibly be 
 injured by fuch fchemesj for no fet of men would attempt to foreftall the market, if they 
 neither knew the quantity of ftock offered to be fold, nor the terms at which it might be 
 purchafed. 
 
 END OF PART If.
 
 THE 
 
 HISTORY 
 
 OF THE 
 
 PUBLIC REVENUE 
 
 OF THE 
 
 BRITISH EMPIRE. 
 
 PART III. 
 
 By Sir JOHN SINCLAIR, Baronet. 
 
 iL n'y a rien que la sagesse et la prudence doivekt plus regle, qub 
 
 CETTE PORTION QJj'ON OTE, ET CETTE PORTION Qu'ON LAISSE AUX SUJETS. 
 
 L'EspRiT DEs Loix, L. xiii. C. I. 
 
 LONDON: 
 
 PRINTED BY A. STRAHAN, FOR T. CADELL IN THE STRAND. 
 
 MDCCXC.
 
 ADVERTISEMENT. 
 
 IT is with infinite regret that the Author piiblifhes a 
 performance in many refpefts fo defe(3:ive. But he 
 trufts that the Reader will confider it merely as the out- 
 line of a work, which cannot be completed without much 
 additional labour and application; and which, indeed, 
 cannot be brought to minute perfection, without the affift- 
 ance of thofe to whom the charge of our Public Revenues 
 may be entrufted. Such afTiftance, however, is not to be 
 looked for until the Nation is bleffed with a real patriotic 
 Minifter, who has judgment to forefee the advantages 
 which may be derived both to himfelf and to the Public, 
 from fuch inveftigations, and generolity enough of fpirit to 
 contribute every aid in his power, and every information 
 from the Offices under his diredlion, to elucidate the po- 
 litical fituation and circumftances of the Country, and to 
 explain every particular regarding either the paft, or the 
 prefent ftate of its Finances. After all, it would be a 
 
 work
 
 vl ADVERTISEMENT. 
 
 work attended with many difficulties. There are few, 
 indeed, who would undertake to draw up an account of 
 the expences of a private family for one or two generations : 
 Yet that tafk is eafy, wh^n compared to the attempt of 
 ftating the income and expenditure of a great Empire, 
 from the remotefl sera of its hiflory. 
 
 The utility of fuch a work can hardly be difputed. It 
 is only by examining the nature and amount of the Taxes 
 we are now fubjed to, that we can judge of their future 
 effedts. It is only by conlidering our paft expenditure, 
 that wc can properly determine what our expences for the 
 future ought to be. It is only from coniidering our pafl: po- 
 litical fyftem, that we are the mod likely to refolve upon 
 a wife political fyftem for the future. It is only by con- 
 fidering the immenfe fums which have been wafted in war, 
 that we are the moft likely to be deeply imprefted with the 
 necefTity of maintaining peace. It is only by confidering 
 how many millions have been placed in the Exchequer of 
 this country fmce the Revolution, and how much our in- 
 come has increafcd fince that aera, that we can flatter our- 
 felves with the fmalleft hopes that our income will be aug- 
 mented for the future, in a manner that will enable us to 
 difcharge the many heavy engagements to which the 
 nation is pledged. 
 
 The Author flatters himfelf, that the time will yet ar- 
 rive, when, poiTefled of health, of leifure, and of every 
 means of information, it will be in his power to bring this 
 Work to perfedion, and to lay before the Public fuch a 
 
 hiftory
 
 ADVERTISEMENT. vii 
 
 hiftory of its finances, and fuch a ftatement of its fituation 
 and refources, as no other nation was ever before poflefTed 
 of, and which he hopes will prove the moft ufeful prefent 
 that ever was offered by a private citizen to his country 
 
 * 
 
 * It was intended to add a chapter on the revenue of Ireland; and another on 
 the political circumftances of the nation. But the former was found to be 
 too extenfive a fubjeft for a fingle chapter ; and the latter could not be en- 
 tered into with any profpecfl of fuccefs, whilft a minifter continued in power, 
 fo unwilling to difclofe any information to the Public, that does not originate 
 with himfelf, and fo peculiarly indifpofed to furnilh the leaft afliftance to the 
 Author of this work. 
 
 London, 
 Jan. 30, 1790.
 
 TO THE 
 
 READER. 
 
 QINCE this work was fent to the prefs, feme circumftances have 
 taken place, connedled with the finances of the country, of which 
 it may be proper to take notice. 
 
 In eftimating the value of the national debt (fee p. 267.), the flocks 
 are ftated at the price they bore in June 1789, when the 3 per cents 
 could not well be eftimated at more than 75 per cent. In confequence 
 of a variety of fortunate events, on which, at prefent, it is unneceffary 
 to dwell, they have fmce rifen confiderably ; and it is not impoffible, 
 fhould no war intervene ; fhould the commerce of the country profper ; 
 and fhould foreign wealth continue to be poured into it ; that in the 
 courfe of the year 1791, or 1792, the 3 per cents may reach even 84 
 per c-ent. If that fhould be the cafe, it will furnifli an able minifler with 
 the opportunity of executing a plan of finance of the utmofl confe- 
 quence to this nation. 
 
 It is obferved in p. 255. that the profpedl of redeeming the 5 per 
 cents^ or dimlnifhing the interefl: of that ftock, is very remote, depending 
 upon a previous purchafe of 25 millions of the 3 or of the 4 per cents. 
 If the flow and tardy operations of Mr. Pitt's unalienable million, 
 were alone to be depended upon, the profpeift is remote ! But there 
 are means by which its progrefs might be greatly accelerated. 
 
 When the 3 per cents are at 84, it is evident that with the bonus of a 
 
 lottery ticket, or of a fliort annuity, money might be borrowed at 3 4. 
 
 Part III. a ^er
 
 r ^ ] 
 
 per cent. In that event, the 4 per cents, or at Icafl enough of that 
 
 ftock to complete the 25 millions, might eafily be paid off', or rt-duced 
 
 to ^ -L per cent. By this operation the public would gain 16;, 750/. 
 
 per annum. It would be entitled at the fame time to reduce the intereft, 
 
 or to pay off" the principal of the 5 per cents, amounting "O 
 
 17,869,993/. gs. 10 d. And if the credit of the country continues 
 
 to flourilli, both the 4 per cents and the 5 per cents, by throwing in 
 
 occafional douceurs, might, in procefs of time, be incorporated with the 
 
 3 per cents. The following fums would, in that cafe, be added 
 
 to the national income. 
 
 •i 
 
 1. By reducing 32,750,000,' from 4, to 3 I per cent, £^^3,750 
 
 2. By reducing ditto from Jf, to 3 per cent 163,750 
 
 3. By reducing 17,869,993, from 5, to ^ per cent, 178,609 
 
 4. By reducing ditto, from 4 to 3 f per cent. - - 89,349 
 
 5. By reducing ditto, from 3 I, to 3, - - 89i349 
 
 Total gain, jC 6f^4»S97 
 
 It Is impoffible not to feel the highefl fatlsfadion, at fuch a glorious 
 profpedt being opened to our view. If our finances are properly con- 
 dud:ed, the whole of thefe redudions may take place at fartheft, in the 
 year 1808. Before that period, all the Exchequer long annuities, amount- 
 ing to 139,399/. 4-f. ^d. per afinum, -wiW drop. The fhort annuities 
 of 1773 and 1779, amounting now (charges included) to 432,185/. 
 iHj. Q.d. will alfo fall. The Bank life annuities, of 67,296/. iij-. yd, 
 per annum, muft then be extinguifhed. So that in ail, in the fpace of 
 lefs than eighteen years, in addition to the unalienable million, and its 
 accumulations, no lefs a fum than 1,323,778/. 14/. ^d. may arife by the 
 extindlion of temporary annuities, and by judicious operations of 
 finance. 
 
 But important as thefe events would prove, yet, were the refources 
 
 of the country exerted to the utmoft, fcenes ftill more brilliant might be 
 
 li looked
 
 [ xl ] 
 
 looked for. The income of the country, without additional taxes, 
 muft of itfelf increafe at the rate of perhaps 150,000/. per anitum. In 
 1 8 12, 200,000/. a year, at leaft, may be expeded from the Bank. 
 By adopting fome of the various hints mentioned in the 4th chapter of 
 this work, an additional million might be levied, without occafioning 
 any material murmur or diftrefs : fo that were peace to continue for 
 thirty years longer, we miglit, at the end of that period, have a finking 
 fund of five millions per annum ; 150 millions of our national debt 
 would be paid off, and the three per cents might perhaps be reduced to 
 2 f , or even to 2 per cent. 
 
 Thefe fpeculations may be confidered as vlfionary. But It h not tm- 
 pojfihle to fee them realiz-ed, and it is neceffary to bring forward flattering 
 profpeds in a country, where the people are too much inclined to ap- 
 prehenfion and defpondency '. 
 
 * It may be proper to obferve, that by an Act pafTed laft feflion of parliament, 
 (29 Geo. 3. cap. 65.) a million is added to the capital flock of the India company : con- 
 fequently that it now amounts to 5 millions, which, when the dividend is at the rate of 8 
 per ctnt, produces 400,000/. ptr annum, to be divided among the proprietors. 
 
 a 2
 
 GENERAL VIEW 
 
 OF THE 
 
 PROGRESS of the PUBLIC REVENUE 
 fince the C O N QJJ E S T. 
 
 William the Conqueror 
 
 WiJliam Rufus - 
 
 Henry I. 
 
 Stephen • 
 
 Henry IL 
 
 Richard I. 
 
 John 
 
 Henry III. 
 
 Edward I. 
 
 Edward II. » 
 
 Edward III. 
 
 Richard II. 
 
 Henry IV. 
 
 Henry V. 
 
 Henry VI. 
 
 Edward IV. 
 
 Edward V. 
 
 Richard III. 
 
 \ 
 
 £ 400,000 
 
 
 
 
 
 350,000 
 
 
 
 
 
 300,000 
 
 
 
 
 
 250,000 
 
 
 
 
 
 200,000 
 
 
 
 
 
 150,000 
 
 
 
 
 
 100,000 
 
 
 
 
 
 80,000 
 
 
 
 
 
 150,000 
 
 
 
 
 
 100,000 
 
 
 
 
 
 i54»i39 
 
 17 
 
 5 
 
 130,000 
 
 
 
 
 
 100,000 
 
 
 
 
 
 76,643 
 
 
 
 
 
 64,976 
 
 
 
 
 
 100,000 o o 
 
 Heary
 
 [ 
 
 XIV 
 
 Henry VII. 
 Henry VIII. 
 Edward VI. 
 Mary 
 Elizabeth 
 James I.- 
 Charles I. - 
 The Commonwealth 
 Charles II. - 
 Jameg II. 
 William III. 
 
 Queen Anne (at the Union) 
 George I. 
 
 Georjre II. 
 
 George III. (J'lySS.) 
 
 \ 
 
 400,000 
 800,000 
 400,000 
 450,000 
 500,000 
 600,000 
 895,819 
 
 i.5i7>247 
 1,800,000 
 
 2,001,855 
 
 3>S95.205 
 
 5,691,803 
 
 6,762,643 
 
 including Scotland -j 8,522,540 
 
 572,971 
 
 
 O 
 
 o 
 o 
 o 
 o 
 o 
 o 
 o 
 o 
 o 
 o 
 o 
 o 
 c 
 o 
 
 o 
 o 
 o 
 o 
 o 
 o 
 o 
 o 
 o 
 o 
 o 
 o 
 c 
 o 
 o
 
 CONTENTS. 
 
 PART III. 
 
 CHAP. I. 
 
 Page 
 
 Of the Progrefs of the National Income fince the Revolution y - i 
 
 CHAP. ir. 
 
 Frogrefs of the Public Expences fince the Revolution^ - 34 
 
 CHAP. IIL 
 
 Of the prefent State of the Public Revenue, and of the dtjfcrent 
 
 Branches of -which it confifs, - - - 106 
 
 CHAP. rv. 
 
 Of the National Rcfotirces, — - -• 1 66 
 
 C H A P. V. 
 
 Analyfts of the prefent Natioffal Deht^ ivith fame Obfervations on 
 the Nature and real Amount of the Burden, and the Means 
 of difcharging it, together with a State of the Public Income 
 and Expenditure, compared to that of France, - - 235 
 
 C H A P. VI. 
 
 Of the Revenue of Scotland, - .> - 307 
 
 Additional Obfervations with regard to the EreBion of a Stamp- 
 
 : office in Scotland, - - - - 3^^ 
 
 Foreign Property in the Englifi Funds, - - - 3^5
 
 XVI 
 
 CONTENTS. 
 
 APPENDIX. 
 
 N° I. 
 
 Page 
 An Account cf th& Difburfcments of the Civil Lift for the Year 
 
 ending \fi of January 1786, -. - - -i 
 
 N" II. 
 
 An Account^ fiewing how the Money given for the Service of the 
 Tear I'j^^ has been difpofed of di/Hnguifljed under the fever al 
 Heads until the 8th Day of May 1 789, and the Parts remainifig 
 unfatisfed^ with the Defcicncy thereupon^ - - xiil 
 
 N° III. 
 
 Tables xf the Progrefs rf the mofl important Branches of the 
 
 Public Revenue^ - - - - xxi 
 
 N° IV. 
 
 ^n Account of the Excifts and other Taxes levied in the Provinces 
 
 of Holland and Utrecht^ - - - xxis 
 
 PART
 
 R T III. 
 
 CHAP. I. 
 
 Of the Progrefs of the ?iational hicome fnce the Revolution. 
 
 AMONG the various political problems which it would be not a 
 little defirable to have fatisfadorily explained, there is none 
 more curious in itfelf, or more truly interefting to this country, than a 
 ftatement of the means which have enabled it to bear its progreffive 
 weight of taxes, but more particularly the heavy burdens to which it is 
 now fubjed. A century has fcarcely elapfed, fmce a revenue of about 
 two millions was fuppofed to be fully equal to its utmoft ability ; nor 
 fmce D'Avenant, the moft intelligent writer of his time on public quef- 
 tions, openly aflerted, that the commerce and manufactures of England 
 would fiuk under a heavier load '. Whereas now, England alone fup- 
 plies the public trealury with above fftecn miUions ; and any popular 
 clamour that is heard, is more owing to the manner in which our taxes 
 are laid on, than to the quantum which is levied. 
 
 In endeavouring to account for this fmgular political phenomenon, it 
 is natural to confider as the moft efficient caufe, the great addition that 
 
 ' D'Avenant's Works, vol. ii. p. 283. 
 
 Part III. B has
 
 HISTORY OF THE PUBLIC REVENUE 
 
 has been made to the general wealth and capital of the kingdom. The 
 income of England at the revolution was ufaaiUy calculated at fbrty- 
 three millions. On that fum the inhabitants of this country lived i 
 and, befides furnifhing themfelves with every article neceflary for the 
 fuftenance and comfort of life, fupplied the public treafury with two. 
 millions /^r annum. Whereas at prefent, in confequence of the various 
 improvements which have taken place in agrladlure^ mannfa6iiires^ and 
 commerce^ the general revenue of the whole ' ifland cannot be lefs than 
 1 20 millions; and hence it is enabled to contribute fo much greater a 
 fum than heretofore to the coffers of the public. 
 
 Agriculture in particular, that beft and fureft fource of national 
 wealth, in no country perhaps of equsl extent has been carried to 
 fuch perfe£tion. By improvements in that art, not only the fields 
 have been made more produdive, but lands, formerly wafte and un- 
 cultivated, have been rendered fertile : nay, independently of other 
 produdts of the earth, grain alone, to the value of nearly forty mil- 
 lions of pounds, has been fent to other countries. Indeed, during the 
 fpace of only five years, from 1743 to 1749, no lefs a quantity than 
 3,768,440 quarters of corn of different kinds, the value of which, at 
 the medium price of from forty to forty-five fhillings, could not be 
 lefs than eight milliotu, were actually exported. 
 
 Formerly England was obliged to fupply itfelf with various im- 
 portant articles from other countries, and fent hardly any commodity 
 of confiderable value abroad, woollens only excepted. But, fince the 
 revolution, the cafe has been greatly altered : valuable manufadories of 
 filk ahd cotton have been eftabliflicd. With the affiftance of Ireland, 
 it is now almoft able to fupply itfelf with the important article of 
 linen; and, inftead of importing, it adlually^ exports glafs, paper, 
 earthen-ware, and many other commodities which formerly rendered 
 the balance of trade, in particular with France, rather unfavourable to 
 this country. 
 
 The general commerce of the nation has alfo been materially aug-- 
 mented. jituio 1697 the imports amounted to 3,482,586/. loj-. 5^/. 
 the exports to 3,525,906/. i8j. 6d. and the balance in our favour 
 only to 43,320/. 8j-. id. Whereas onno 1787 the imports, including 
 thofe of Scotland, amounted to 17,804,824/. i6s. id. the exports to 
 
 2 1.8,296,166/..
 
 OF THE BRITISH EMPIRE. 
 
 18,296,166/. I2s. i\d. and the balance to 492,141/. iGs. lod^. 
 This is partly to be attributed to the increafed indurtry and commercial 
 exertions of the nation, and partly to the great value and opulence of 
 our colonial pofleflions, which, notwithftanding the independence of 
 North America, ftill continue of immenfe importance. Our commerce 
 and fettlements in the Eaft, in particular, cannot be the means of im- 
 porting into this country lefs HidLnJivc tnUliotis and a half per antmm". 
 
 At firft fight, it is natural to wonder how 120 millions of annual 
 income can yield a public revenue of above fifteen millions ^^r a7inum^ 
 when forty-three millions only produced two. But it fhould be con- 
 fidered that it is from fuperfluous wealth alone, that a large revenue 
 can be drawn. At the revolution, the people of England required the 
 greater part of their income to purchafe merely the necefTaries and 
 conveniencies of life : and four (hillings in the pound muft be lefs felt, 
 and lefs liable to complaint, from the additional wealth that has been 
 acquired fince, than one fliilling in the pound, taken from an income 
 that was little more than fufficient for the fuftenance of the people. 
 
 Befides, the financial, like every other art, requires much experience 
 before it can be brought to perfedion. The ingenuity of able men 
 muft be exercifed, to countera£t the various artifices of thofe who 
 may be defirous of evading the taxes to which they are fubjedl ; and 
 in no country can the public revenue be brought to the higheft ftandard 
 of which it is capable, until many have made it the fole, or at leaft 
 the principal objed of their ftudy and attention ; nor indeed until the 
 people have been accuftomed to taxes. For, however obnoxious they 
 may be when originally impofed, yet, in procefs of time, when they 
 become familiar to the public, they are paid with lefs reluQance, and 
 confequently become more productive. Hence, if the general income 
 of England had ftill remained at only forty-three millions ^^a- onnmn^ 
 
 '^ The apparent balance is not fo confiJerable at prefent, as in fornner years, particu- 
 larly aimo 1750, when it amounted to 7,359,964/. 10^. 8^. But the commercial pro- 
 fperity of a nation depends lefs upon the balance in the books of the Cuftom-houfe, than 
 upon other circumftances, to be afterwards explained. 
 
 '^ That is the fum at which the fales of the company, the property of private trader?, 
 and the effefts of Britifli fubjeiSs, remitted through foreign companies, may be eftiniated. 
 The particulars will be detailed in the account that will be given of the Eaft India Com- 
 pany (Chap, vi.) 
 
 B 2 a much
 
 HISTORY OF THE PUBLIC REVENUE 
 
 a, much larger portion of that fum would probahly have been at prefent 
 paid, than at firft could have been expedted. 
 
 The advantages rcfulting to a public revenue from an eafy circula- 
 tion, and from credit being fully eftabliflied in a country, from an 
 abundance of money (whether paper or fpecie is of little confequence 
 where paper is received by the exchequer), and alfo from the eflablifli- 
 ment of public debts themfelves, have already been taken notice of. 
 But there are two important circumftances, namely, the enormous fize 
 of the capital, and the luxurious manners of the people, which have 
 not as yet been confidered. Wherever great multitudes are affembled 
 together, there much wealth muft be concentered ; and the government 
 of a country finds it much lefs difficult to draw a confiderable revenue 
 from thofe who are immediately under its eye, and live contiguous to 
 each other, than from fuch as refide at a diftance, and are fcattered 
 over the whole face of the country. Nor is it perhaps an exaggerated 
 calculation, that the inhabitants of London and its neighbourhood, in 
 proportion to their number, pay as much again to the public, as thofe 
 who dwell at a diftance from that metropolis ^ 
 
 Laftly, the luxurious manner in which the inhabitants of this 
 country live, is not a little favourable to an inereafe of revenue. 
 "Where private ceconomy reigns, no produdlive impoft can be laid, but 
 on property alone. That relburce, however, is very limited : for few 
 can bear that the public fhould fliare very largely in their wealth, or 
 iliould openly demand too great a portion of their income. But in 
 luxurious ages a confiderable revenue may be raifed without hurting 
 the feelings of the people. Taxes on confumption become efficient 
 and productive, and the confumer, confounding the duty and the 
 price together, furnifhes, without reludlance, to the public treafury a 
 I'um which by any other means could hardly have been exaded". 
 
 '' The proportion paid by London and its neighbourhood has been computed by feme 
 writers to be much more confiderable. For inftance, it was afTerted anno 1692, that 
 Yorkftiire paid but 151. ^d. the houfe; whereas Middlefex, abftracSted from London, 
 paid 21s. and London itfelf 3/. 6x. %d. and that the acre in Yoriifhire paid but ^\d. 
 whilft that in I\Iiddlefex paid 5 J. iid. See Houghton's Colledlions on Hufbandry and 
 Trade, vol. i. p. 84. 
 
 ' Of the many millions raifed in this country, only about two millions and a half are 
 impofed upon property ; whereas thirteen millions ate levied upon confumption. 
 
 Thefe
 
 OF THE BRITISH EMPIRE. 
 
 Thefe clrcumftances tend to elucidate the aftonifhing increafe of the 
 revenue within the prefeiit century. Let us next give fome account of 
 its progrefs fince the revolution, and the eftablifliment of the funding 
 fyftein, by which that Era is fo peculiarly diftinguillied. 
 
 WILLIAM III. 
 
 The heavy debts and expences that were incuiTed during the reign 
 of William III. unavoidably introduced not only a great variety of new 
 taxes, but alfo confiderable additions to thofe duties that had formerly 
 been laid on. It is not propofed, however, to attempt giving an account 
 of every little minute regulation that took place during the courle of this 
 reign. The curiofity of the reader, it is hoped, will be fufficiently gra- 
 tified by ftating the moft important particulars. 
 
 The permanent revenue arofe from the cuftoms, the excife, and a 
 variety of mifcellaneous duties. 
 
 Many branches were added during this reign to the old fubfidy of i. Culloms. 
 tonnage and poundage. Duties were either impofed, or, after former 
 grants were on the eve of expiring, were renewed, on the following 
 articles ; namely, on wines and vinegar ; on tobacco ; on fait imported, 
 on fpices and piftures ; on coals exported, or even carried coaft-ways ; 
 on muflins, whale fins ; on French goods, foreign liquors imported ; 
 &c. By thefe means the following fums were raifed during this reign: 
 
 Cuftoms from 5th November 1688 to Michaelmas 1691 £ 1,919,514 
 
 from Michaelmas 1691 to Ditto 1692 897,-51 
 
 to Ditto 1693 C88,88i 
 
 to Ditto 1694 ^70,933 
 
 to Ditto 1695 878,173 
 
 to Ditto 1696 997,686 
 
 to Ditto 1697 694,892 
 
 to Ditto 1698 1,105,991 
 
 to Ditto 1699 i)44-7»823 
 
 to Ditto 1700 1,496,506 
 
 to Ditto 1 70 1 1,539,100 
 
 to Ladyday 1702 759»778 
 
 Total £ i3»296,83j
 
 (, HISTORY OF THE PUBLIC REVENUE 
 
 This was the nett produce, befides all bounties, drawbacks, and the 
 cxpence of collection. 
 
 2. Excife. Even the revenue of the Exclfe, though of a nature peculiarly ob- 
 
 noxious to the fpirit and principles of the Britifh conftitution, made no 
 inconfiderable progrefs during the reign of William. Excifes on fait, 
 on the diftillery, and on malt, fmce known under the name of the 
 malt-tax, were then firft introduced. The various fums which this 
 branch of the revenue yielded during the fame period, will appear from 
 the following ftatement : 
 
 Excife from 5th November 1688 to Michaelmas 1691 ;/^ 2,429,750 
 
 from Michaelmas 1 691 to Ditto 1692 1,213,510 
 
 to Ditto 1693 904,860 
 
 to Ditto 1694 866,289 
 
 to Ditto 1695 930,75:2 
 
 to Ditto 1696 917,541 
 
 to Ditto 1697 1,049,979 
 
 to Ditto 1698 1,350,752 
 
 toDittoi699 1,411,516 
 
 to Ditto 1700 1,030,222 
 
 to Ditto 1 70 1 986,004 
 
 to Ladyday 1702 558,171 
 
 Total ;^ 13,649,328 
 
 3. Mifcel- The principal fources of revenue of a mifcellaneous nature, were, 
 and receipts, the land-tax, poU-taxes, the tax on marriages, births, burials, &c. 
 
 hearth-money, the pofl-office, and other fmaller branches. 
 Land-tax. The circumftances of the country at the acceflion of "William to the 
 
 throne, were fuch, that no tax could be depended upon as fufEciently 
 productive that was not impofed upon land, in the produce of which the 
 wealth and income of England at that time principally confifted. That 
 it might be rendered as efficient as poffible, new afTeffments were taken 
 of the property and income that each individual poflefled. But the rate 
 was far from being equal. Thofe who were attached to the principles 
 
 eftablifhed
 
 OF THE BRITISH EMPIRE. 
 
 eftablifhed at (he revolution, were forward to fhew their zeal in favour 
 of the new government, and gave in a fair flatement of their real fituation ; 
 whilft the fecret and the avowed friends of the exiled family, the fordid 
 and avaricious, gave in a very different acc'ount, eftimating their property 
 at rhe loweft rate af which it could be calculated. Hence the aflefT- 
 ments fince known under the name of land-tax, -were not in any refpedl 
 fo produdive as they ought to have been. The amount of this branch 
 during the reign of that rhbnarch, was as follows : 
 
 Land-tax from 5th November 1688 to Michaelmas 1691 ;C3,i7i,739 
 
 from Michaelmas 1691 to Ditto 1692 1,610,613 
 
 to Ditto 1693 1,716,253. 
 
 to Ditto 1694. 1,892,887 
 
 to Ditto 1695 1,839,311 
 
 to Ditto 1696 2,473,449^ 
 
 to Ditto 1697 899,824 
 
 to Ditto 1698 1,400,496 
 
 to Ditto 1699 ^ 3^3593^ 
 
 to Ditto 1700 r,37i,598 
 
 to Ditto 1701 835,405 
 
 to Ladyday 1702 818,553 
 
 Total ^19,174,059 
 
 Though England, at the revolution, was in a ftate fufEcIently flourifli- Poll-taxes. 
 ing to bear a confiderable load of taxes ; yet fuch were the confequences 
 of an unfettled government, and of the fadtious fpirit prevalent at that 
 time, that the utmoft difficulty was found in raifmg the money necelTary 
 for the redudion of Ireland, and for carrying on the war againft France. 
 Among the meafures adopted for that purpofe, recourfe was had to poll- 
 taxes ; and it may be proper to give the following ftate of the laft fyftem 
 of levying a revenue by that mode,, that has been attempted in this 
 country,.
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Quarterly Taxes. 
 Poll to be paid by all perfons, except the poor, in- 
 cluding fuch as are not worth 50/. - ;i(^ o i o 
 All perfons worth 300 /. reputed gentlemen - 100 
 Tradefmen, fhopkeepers, &c. - - o 10 o 
 Perfons chargeable with finding a horfe for the militia, 
 
 for each horfe - - - - I o o 
 
 Perfons keeping a; coach and horfes, who do not con- 
 tribute a horfe to the militia - - 100 
 Perfons keeping a hackney or 'ftage coach, for each 
 
 coach - - - --150 
 
 Peers of the realm, fpiritual or temporal - 1000 
 
 Attorneys, prodors, and other ofEcers of the civil 
 
 and ecclefiaftical courts - - -100 
 
 Clergymen, preachers, and teachers of any kind, en- 
 joying 80 /. per annum - - - 100 
 
 All nonjurors in every cafe were to pay double. 
 
 Though, in fo lax and fadious a government as that of England, 
 poll-taxes could not be very rigoroufly levied ; yet, at the rates above 
 mentioned, they produced the following fums : 
 
 Poll-taxes from 5th November 1688 to Michaelmas 1691 jC539>^^3 
 
 from Michaelmas 1691 to Ditto 1692 256,323 
 
 to Ditto 1693 324.935 
 
 to Ditto 1694 156,510 
 
 to Ditto 1695 3 1 7*879 
 
 to Ditto 1696 25,221 
 
 to Ditto 1697 212,126 
 
 to Ditto 1698 330,018 
 
 to Ditto 1699 337.727 
 
 to Ditto 1700 27,418 
 
 to Ditto 1 70 1 14,814 
 
 to Ladyday 1702 14,850 
 
 Total jT 2,557,649
 
 OF THE BRITISH EMPIRE. 9 
 
 It cannot be doubted, that by a find exaction of the above rates, 
 a much larger fum might have been raifed : but the government was 
 afraid to irritate the people, by levying a tax fo generally obnoxious, in 
 too rigorous a manner. 
 
 Thofe taxes have ever been the moft approved of, which operate -as Tax on mar- 
 an ufeful regulation of police, as well as a fource of revenue: and as in [y^^^jj "^ *' 
 a political view, it is of confiderable confequence to know the number bachelors, 
 of marriages, of births and burials, that happen in a country (becaufe 
 thence the ftate of its population may be pretty nearly calculated) ; and 
 as a tax on bachelors has been accounted an inducement to marriage, 
 or at lead a penalty upon celibacy, the reader may be defirous of being 
 informed of the duties of that nature that were impofed during the reiga 
 of William. 
 
 Part III.
 
 lO 
 
 HISTORY OF THE PUBLIC REVENUE 
 
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 cu
 
 OF THE BRITISH EMPIRE. 
 
 II 
 
 Each parlfli -was , obliged to pay for the burials of the poor, and of 
 their families ; but the births or marriages of fuch perfons as received 
 _ alms wei'e not liable to pay duty. 
 
 The annual taxes impofed on bachelors above the age of twenty- 
 five years, and upon fuch widov^'ers as had no cliildren, were as 
 follovl^s : 
 
 Degrees, Titles, &c. 
 
 The Party 
 himfelf. 
 
 The 
 
 ■ Eldeft 
 Son. 
 
 The Younger 
 Son. 
 
 
 ^■ 
 
 s. 
 
 d. 
 
 £■ 
 
 , 
 
 d. 
 
 £. 
 
 J. d. 
 
 A Duke, &c. 
 
 12 
 
 1 1 
 
 
 
 7 
 
 I I 
 
 
 
 6 
 
 5 ° 
 
 A Marquis _ - _ 
 
 10 
 
 I 
 
 
 
 6 
 
 6 
 
 
 
 c 
 
 I 
 
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 7 
 
 II 
 
 
 
 5 
 
 I 
 
 
 
 3 
 
 16 
 
 A Viicount 
 
 6 
 
 6 
 
 
 
 4 
 
 8 
 
 6 
 
 3 
 
 7 8 
 
 A Baron 
 
 5 
 
 I 
 
 
 
 3 
 
 16 
 
 
 
 3 
 
 I 
 
 A Baronet and Knight of the? 
 Bath - - S 
 
 
 
 
 
 
 
 
 3 
 
 16 
 
 
 
 I 
 
 6 
 
 
 
 I 
 
 6 
 
 A Knight Bachelor 
 
 2 
 
 1 1 
 
 
 
 I 
 
 6 
 
 
 
 
 
 6 
 
 The King's Serjeants at Law - 
 
 5 
 
 I 
 
 
 
 
 
 6 
 
 
 
 
 
 6 
 
 Other Serjeants at Law 
 
 3 
 
 16 
 
 
 
 
 
 6 
 
 
 
 
 
 6 
 
 Efquires - - - 
 
 I 
 
 6 
 
 
 
 
 
 6 
 
 
 
 
 
 6 
 
 Gentlemen - - 
 
 
 
 6 
 
 
 
 
 
 6 
 
 
 
 
 
 6 
 
 Dodlors of Divinity, Law, or / 
 Phyfic - - S 
 
 I 
 
 6 
 
 
 
 
 
 6 
 
 
 
 
 
 6 
 
 Perfons of co/. per annum, or? 
 
 
 6 
 
 
 
 
 6 
 
 
 
 600 /• perfonal eftate \ 
 
 
 
 
 
 
 
 3 
 
 
 
 3 6 
 
 Perfons not otherwife charged - 
 
 
 
 I 
 
 
 
 
 
 I 
 
 
 
 
 
 I 
 
 From this tax, all fellows, ftudents, and fcholars in the different 
 univerfities of Great Britain and Ireland, and perfons receiving alms, 
 were exempted. This and the preceding tax were originally impofed 
 for five years from the i ft May 1 695, but were afterwards prolonged 
 to the I ft Auguft 1706. They produced, during the firft five years, 
 258,094 /. or 51,618/. per anmm. During the remaining period, they 
 were exadled in fo carelefs a manner, that only 17,422 /. i6 j. 27^'. was 
 accounted for. Perhaps now, when we are a little more accuftomed to 
 taxes, a fimilar plan might be enforced, and, with Uttle alteration, might 
 be contrived fo as to yield at leaft 1 00,000 /. per annum, 
 
 C 2 The
 
 12 HISTORY OF THE PUBLIC REVENUE 
 
 The remaining rcfources which this monarch enjoyed, arofe from 
 hearth-money, from the poll-office, and from a variety of fmaller 
 branches, together with the loans of a permanent nature, which he 
 contrived to borrow, arnounting in all to 9,745,300 /. 10 s. gd. The 
 total fumthen received by William during the courfe of his reign 
 was as follows : , . 
 
 Cuftoms - - . ;^ 13.296,833 H 6 
 
 Excife - - - - 13,649,328 o si- 
 
 Land-taxes _ _ - 19,174,059 8 3^ 
 
 Polls - - . - 2,557,642 7 7^ 
 
 Tax on marriages, births, &c. - 275,517 18 i 
 
 Various articles (including permanent loans) 9,745,300 10 9 
 
 Temporary loans unpaid - - • 13,348,680 5 10^ 
 
 jC 72,047.369 5 6i- 
 
 To which there Is to be added 80,138/. 18^. o^^. which remained 
 in the exchequer, and in the hands of the feveral receivers, on 5th No- 
 vember 1688. 
 
 The income of England, a/ifio 1701, the year preceding this mo- 
 narch's death, was as follows : 
 
 Cuftoms _ . .. . ;^ 1,539.^00 
 
 Excife _ _ _ _ - 986,004 
 
 Poft-office, &c. _ _ - , 130,399 
 
 Land-tax at 2 s. in the pound - - 989,965 
 
 Various fmall taxes _ - - 249,737 
 
 ;^3.S95.205 
 Income at the Revolution 2,001,855 
 
 Total additional revenue at the death of William £ ^^^93^35° 
 
 During the courfe of this reign, it is well known that many taxes, 
 fuch as the malt-tax, the tax on luwkers and pedlars, on hackney 
 
 coaches.
 
 OF THE BRITISH EMPIRE. rj 
 
 coaches, &c. were Introduced. But as they are continued to the pr-e- 
 fent hour, and as fome obfervations will be made on them in a fucceed- 
 ing chapter, it feems unneceflary at prefent to enter into the fubjedt. 
 It may be proper, however, to mention three modes of taxation which 
 exifted at that time, and Ihortly to ftate the reafons for which they 
 were given up. 
 
 By an adl pafled atino 1695, certain duties were granted on glafs Tax on giaifs 
 wares, and upon flone and earthen bottles, &c/, and a new fet of ^Ire"" ^" 
 commillioners was appointed for collecting and managing the duty. 
 Anno 1696, another a£t was pafied ^, by which the faid duties were- 
 continued yor ever^ and extended to all forts of wares or commodities 
 made from earth or ftone. It has been aflerted, that our neighbours in 
 Holland, who were then our great rivals in thofe articles, fuggefted 
 that tax. But an a£t was afterwards pafTed, reciting, that the duties 
 impofed were " vexatious and troublefome, and very chargeable in the 
 levying and collecting the fame *" ;" and confequently abolifliing thofe 
 duties as deftru£tive to that important manufadure. Only one-half of 
 the duties on glafs wares was repealed by that aft. The following year, 
 however, the remaining duties on ghifs were taken off, as being of fmall 
 advantage to the crown, leflening the duty on coals, hindering the em- 
 ployment of the poor, and endangering the lofs of fo beneficial a ma- 
 nufafture to the kingdom '. The neceifities of the public have fmce oc- 
 cafioned the revival of this obnoxious and impolitic impoft. 
 
 By the great aft of tonnage and poundage, pafTed anno 1660, on the Abolition of- 
 reftoration of Charles II. taxes were impofed upon the exportation of wcollen'^ma- 
 wooUen manufaftures, and on all corn, grain, bread, bifcuit, and meal, ""f^i'^'^"'"". 
 fent out of the kingdom. During the reign of William, the wretched expoued. 
 policy of fuch regulations began to be difcovered ; and a law was palfed 
 anno 1700, by which the duties on the woollen manufaftures were 
 abolifhed, becaufe, in the words of the aft, " the wealth and profperity 
 " of the kingdom doth in a great meafure depend on the improvement 
 *' of its woollen manufaftures, and the profitable trade carried on by 
 " the exportation thereof \" Nay, fo much were the ideas of men, 
 
 f 6 and 7 William III. chap. j8, k 7 and 8 Wiliiam III. chap. 8r. 
 
 •> 9 and 10 William 111. chap. 45. ' 10 and 11 Wiliiam III. chap 18. 
 
 " II and 12 William III. chap. 20. 
 
 altered-
 
 tions. 
 
 14 HISTORY OF THE PUBLIC REVENUE 
 
 altered in regard to matters of commerce and finance, that inftead of a 
 duty being impofed upon the exportation of grain, a bounty was given 
 ^vhen that article was fent out of the kingdom. The intention of the 
 legiflature was, to encourage production, and to animate the farmer to 
 induftry and exertion, from the certainty of a market. The propriety 
 of the meafure has not a little been controverted, and many plaufible ar- 
 guments have been urged againft it ; but fmce the bounty was firfl: 
 granted, it cannot be denied that grain has been more abundant than in 
 any other era of our hiftory, the price at any rate more equal, and lefs 
 fluiSluatingthan formerly ; — an advantage of the titmoft importance, and 
 not too dearly purchafed by the money that it has coft. 
 Tax on the A meafure was attempted during this reign, which, had the minds of 
 
 of corpora- people been accuflomed to it, and had it exifted at this time, might have 
 proved a mod important refource to the nation. By an adl palled arwo 
 1692 ', a tax of 5 /. per cent, was impofed upon every proprietor of India 
 flock, according to the fliare and proportion thereof in which he was in- 
 terefted; 20 j-. upon every fliare of the joint flock of the royal African 
 company ; and 5 /. for every (hare in the joint flock of the Hudibn's 
 Bay company ; to be paid quarterly, and dedudled from the next 
 dividends to be paid to the feveral perfons interelled therein. The tax 
 was continued only for one year. It produced 43,219/. But the 
 public creditors, whether incorporated or otherwife, have fmce taken 
 care to have it fpeciiically provided, that their annuities fhall be exempted 
 from all taxes and duties whatfoever. 
 
 Q^U E E N ANNE. 
 
 The greater part of the reign of this princefs was pafTcd in carrying 
 on an expenfive war againft the houfc of Bourbon ; and as the fame 
 fvftem that was beeun under the adminiftration of William, of borrow- 
 ing money for the charges of war, and of irapofmg taxes merely to de- 
 fray the intereft, was perfevered in ; it was on that account necelTary to 
 make a variety of new laws and alterations every year in regard to the 
 
 ' 4 and 5 William III. chap. 15. 
 Q . revenue.
 
 OF THE BRITISH EMPIRE. 15 
 
 revenue, the detail of which would furnifli little inftrudion or amufe- 
 ment to the reader. It is therefore propofed to ftate in this work only- 
 general obfervations. 
 
 The cuftoms during this reign, produced the following fums nett The cuftoms. 
 Into the exchequer : 
 
 uufto;ns from Lady-day to Michaelmas 
 
 1702 
 
 ^629,199 
 
 
 to Ditto 
 
 1703 
 
 1,292,138 
 
 
 to Ditto 
 
 1704 
 
 ^377.832 
 
 
 to Ditto 
 
 ^7^5 
 
 i>057'954 
 
 
 to Ditto 
 
 1706 
 
 1,241,939 
 
 
 to Ditto 
 
 1707 
 
 i,329.H9 
 
 
 to Ditto 
 
 1708 
 
 ^i77»i77 
 
 
 to Ditto 
 
 1709 
 
 1.273,587 
 
 
 to Ditto 
 
 1710 
 
 1 5304584 1 
 
 From Michaelmas 
 
 1 710 to Chriftmas 
 
 1711 
 
 319,804 
 
 From Chriilmas 
 
 171 1 to Ditto 
 
 1712 
 
 i>253,598 
 
 
 to Ditto 
 
 1713 
 
 i,3i5>423 
 
 
 to Ditto 
 
 1714 
 Total 
 
 1041,170 
 
 
 ;Ci5,ii3»Sii 
 
 The following were the fums which the revenue of excife Excifes. 
 yielded during this reign : 
 
 From Lady-day to Michaelmas 
 
 1702 
 
 ■;^ 854,62 1 
 
 to Ditto 
 
 1703 
 
 1,745,860 
 
 to Ditto 
 
 1704 
 
 15^535632 
 
 to Ditto 
 
 ^7^5 
 
 1,804,043 
 
 to Ditto 
 
 1706 
 
 1,679,431 
 
 to Ditto 
 
 1707 
 
 1,742,076 
 
 to Ditto 
 
 1708 
 
 1,680,124 
 
 to Ditto 
 
 1709 
 
 1,568,158 
 
 to Ditto 
 
 1710 
 Carried over 
 
 1,526,623 
 
 
 £ 14,254067
 
 I« 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Brought over 
 From Michaelmas 1710 to Midfummer 171 1 
 From Midfummer 1 7 1 1 to Ditto 1 7 1 2 
 
 to Ditto 1 71 3 
 
 to Ditto 1 714 
 
 £ 14.254.567 
 
 1. 191.577 
 1,650,672 
 
 1,926,972 
 
 1,835,523 
 
 Total / 20,859,31 1 
 
 liad-tax. 
 
 This great increafe In the revenue of excife was owing to a variety of 
 duties imppfed on a number of ufeful and neceflary articles, particularly 
 on candles, leather, foap, paper, ftarch, printed linens, &c. 
 
 The land-tax during this reign was not a little productive, being ge- 
 nerally kept up at the rate of 4^. in the pound, and yielding the fol- 
 lowing fums : 
 
 to Michaelmas 
 
 ; 1702 
 
 /'82i,5i9 
 
 to Ditto 
 
 1703 
 
 2,037,311 
 
 to Ditto 
 
 1704 
 
 1,913,648 
 
 to Ditto 
 
 1705 
 
 1,934.312 
 
 to Ditto 
 
 1706 ' 
 
 1,910,318 
 
 to Ditto 
 
 1707 
 
 1,930,402 
 
 to Ditto 
 
 1708 
 
 1,844,509 
 
 to Ditto 
 
 1709 
 
 1.946,339 
 
 to Ditto 
 
 1710 
 
 1. 947.55 1 
 
 to Ditto 
 
 17H 
 
 2,000,000 
 
 to Ditto 
 
 1712 
 
 1,000,000 
 
 to Ditto 
 
 1713 
 
 1,000,000 
 
 to Ditto 
 
 1714 
 
 1,000,000 
 
 
 ;C 2 1,2 85,909 
 
 Mifcella- 
 neous taxes 
 and receipts. 
 
 Without entering into the particular produce of the pofl-office, and 
 other fmaller branches of the revenue, it may be fuiEcient to remark, 
 that from Lady-day 1702 to Chriftmas 1 715, it amounted to nearly 
 the fum of 5,261,346 /. 
 
 It
 
 OF THE BRITISH EMPIRE. 17 
 
 It is difficult at prefent, unlefs the records of the treafury, and of the Loans, 
 ■exchequer, were to be ranfacked for that fpecial purpofe, to give an 
 exa£t account of the money borrowed in the courfe of this reign. The 
 following, however (which includes the loans on temporary as well as 
 perpetual taxes), it is believed, cannot be materially erroneous. 
 
 to Michaelmas 
 
 1702 
 
 £ 1,887,308 
 
 to Ditto 
 
 1703 
 
 3,422,810 
 
 to Ditto 
 
 1704 
 
 3»9i8,i3o 
 
 to Ditto 
 
 ^7^5 
 
 4,222,657 
 
 to Ditto 
 
 1706 
 
 5»403»38i 
 
 to Ditto 
 
 1707 
 
 6,098,259 
 
 to Ditto 
 
 1708 
 
 5,694,412 
 
 to Ditto 
 
 1709 
 
 6,998,183 
 
 to Ditto 
 
 1710 
 
 7.703.399 
 
 to Ditto 
 
 1711 
 
 6,304,615 
 
 to Ditto 
 
 1712 
 
 3,400,000 
 
 to Ditto 
 
 ^7^3 
 
 3,100,000 
 
 to Ditto 
 
 1714 
 
 1,700,000 
 
 
 ^59,853,154 
 
 The following will then be the amount of the fums received during 
 the reign of Queen Anne : 
 
 Cufloms - - - - ;^ 15,113,811 
 
 Excife _ _ _ - 20,859,3 1 1 
 
 Land-tax _ _ _ - 21,285,909 
 
 Mifcellaneous taxes and receipts - - 5,261,346 
 
 ;C 62,520,377 
 Loans - . - _ 59,853,154 
 
 Total ;^ 122,373,531 
 
 This reign was diftlngulfhed by an attempt to lay a tax on income. Re- Tax on in>; 
 folutions were entered into by the houfe of commons, that a duty of 50 
 per cent, fhould be laid upon the value of all ftock in trade, 25 per cent. 
 -upon all money at intereft, 4 j. in the pound upon all annuities, penfions, 
 
 Part III. D and
 
 l»i 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Refumptioti 
 of crown 
 grants. 
 
 Tax on white 
 
 woollen 
 
 broadcloths. 
 
 and yearly ftipends; 51. in the pound upon all falaries, fees, and 
 perquifites of office; and 4^'. in the pound upon perfons exercifing 
 any profefTion whatfoever, whether legal, medical, commercial, or 
 ecclefiaftical ; and that all perfons, the poor excepted, ihould pay 
 within one year the fum of four fhillings. It was alfo voted, that a 
 duty at the rate of one per cent, fhould be impofed upon the fhares of 
 the capital flock of all corporations or companies, to be continued for 
 five years™. But the propofed tax on income was abandoned; and a 
 bill brought in for laying a duty upon buying, felling, or bargaining 
 for {hares in joint flocks, or corporations, was alfo dropped", the bank 
 and Eafl India Company having petitioned againfl it, as contrary to 
 the public faith, and the acSls by which they were eflablifhed. Another 
 attempt of the fame kind, anno 1702, proved equally unfuccefsfur. 
 Thus all idea of an equal pound rate, or a tax in a fair proportion 
 to every man's yearly income, or the profits which he acquired from 
 his ellate, bufmefs, or profeffion, was given up. 
 
 Some endeavours were made, during this reign, to examine into the 
 value of lands, and of all grants made by the crown fmce the 13th Fe- 
 bruary 1688, with a view of refuming the fame, and of applying 
 them to relieve the public neceffities, unlefs they were bellowed after 
 due confideration. A bill for that purpofe was pafTed by the com- 
 mons, butrejedled by the houfe of lords ^ A refolution of the former, 
 to lay a tax upon all grants from the crown fmce the 6th Fe- 
 bruary 1684", of one-fifth part of the value of the grant at the time it 
 was made, had been previoufly evaded ; the leading men in both houfes. 
 being too deeply interelled in grants of that nature, to fuffer fuch a bill 
 to pafs into a law. 
 
 By a ftatute in the reign of Henry VIII. the exportation of white, 
 woollen broad cloths had been totally prohibited. Such a regulation,, 
 however, was fuppofed to be impolitic; and it was thought to be a 
 fufficient encouragement to the dyers of this country, to impofe a duty 
 of five fhillings per piece upon all white woollen broad cloths when 
 exported '. 
 
 " Comm. Journals, vol. xiii. p, 741. 743. " Ibid. p. 834. 894. 896. 
 
 • Ibid. vol. xiv. p. 34. p Hiftory of our National Debts, part ii. p. 130. 
 
 ' Comm. Journals, vol, xv, p. 78. ' 6 Anne, cap. g. 
 
 Among
 
 OF THE BRITISH EMPIRE. tg 
 
 Amons: the various advantaces which Ireland enjoys, from the man- ErportatJon 
 ner in which the two countries are at preient connected, there is none to Ireland, 
 of fo fmgular a nature as the right which It pofleffes, of having rock 
 fait exported from England duty free ; whilfl (with a few exceptions) 
 if carried from one port to another in this country, it is liable to a 
 confiderable tax. But as fo peculiar a privilege was owing to negledl, 
 and not d£rig,n, it is hoped that it will not be perpetuated. By an adl 
 pafled afiNo ijio\ a duty of nine fhillings /t^r ton was impofed on all 
 rock fait exported to Ireland for thirty-two years, from the nth 
 June 171 1. Why it was not renewed when it came to expire. Is not 
 at prefent known ; but juftice to the people of Great Britain requires 
 the revival of fo equitable a regulation, or the extenfion of the fame 
 privilege to the reft of the kingdom. 
 
 The reign of Queen Anne is particularly celebrated for the union Revenue of 
 which was fo happily effedled between the two kingdoms of England the union, 
 and Scotland. As before that event took place it was necelfary to 
 make a very minute inquiry into the revenues of both countries, we 
 are thereby enabled to give a very accurate ftatement of the income of 
 England at that memorable a£;ra, and of the different branches from 
 which it was derived. 
 
 STATE of the REVENUE of ENGLAND at the UNION. 
 
 Civil Lijl Revenue, 
 
 The exclfe on beer (2 j-. 6 ^/./^r barrel) - £ 286,178 
 
 Further fubfidies of tonnage and poundage - 256,841 
 
 Poft-ofEce _ _ . - 101,101 
 
 Fines in the alienation office - - 4>8o4 
 
 Poft fines - - - - 2,276 
 
 Wine licences - - - - 6,314 
 
 Sheriffs proffers _ . - - 1,040 
 
 ■Compofitions in the exchequer - - 13 
 
 Seizures of uncuftomed and prohibited goods - 13,005 
 
 Revenue of the dutchy of Cornwall - - 9,869 
 
 Revenue of the principality of Wales - - 6,857 
 
 Rents of crown lands, fines, leafes, Sfff. - 2,906 
 
 Total for the civil Uft £ 691,204 
 ' 9 Anne, cap. 23. feft. 44% 
 
 D 2
 
 »o 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Other TAXES. 
 
 Cuftoms appropriated to Auguft 1 710 - ;C 345»704 
 
 Impofitions on wine, vinegar, tobacco, ditto 3735485 
 
 Additional impofitions _ _ _ 39,645 
 
 Duties on coals and culm, appropriated to Sept. 1710 113,688 
 
 1^ per cent, on muflins, ^c. ditto - - 116,475 
 
 2^ per cent, additional duty on French goods - 10,794 
 
 5 s. per ton on French fliipping - - 81 
 
 Plantation duties - - - - 877 
 
 4.^ per cent, on Barbadoes and Leeward iflands - 6,459 
 
 The coinage duty _ _ - _ 7j350 
 
 Duty on whale fins and Scotch linen - iO)939 
 
 ■L additional tonnage and poundage for 98 years 81,746 
 
 ^ additional ditto for 4 years, from 1708 - 160,000 
 
 9(y./d'r barrel excife for 98 years - - 164,828 
 
 Another 9 ^. /^r barrel to the bank - - 155,000 
 
 Another gd. per barrel for 99 years, from 1692 155,000 
 
 Duties on low wines, appropriated to June 1710 25,267 
 
 Rent of hackney coaches - — - 2,800 
 
 Licences to hawkers and pedlars - - 6,460 
 Stamp duty,partly tothe Eaft India Company, the reft 
 
 appropriated to 1 710 - - - 89,110 
 
 I J-. ^^r bufhel on fait, appropriated to 17 10 - 54,621 
 
 2s. ^d. per bulhel on fait for the Eaft India Company 128,038 
 
 The duty on windows appropriated to 17 10 - 1 12,069 
 
 3,700/. /^r week out of the excife - - 192,400 
 
 The malt duty (often deficient) 
 The land tax 
 
 Revenues of the civil lift 
 
 2,352,836 
 650,000 
 
 i>997.763 
 
 5,000,599 
 - 691,204 
 
 Total ^ 5,691,803
 
 OF THE BRITISH EMPIRE. 
 
 a I 
 
 GEORGE I. 
 
 Little that Is material occurs, in regard to the progrefs of the revenue, 
 during this monarch's reign. It appears, indeed, from the following 
 ftate of the income drawn from the moft important of our taxes, that 
 they increafed in their produce, a circumftance that might naturally be 
 expedted, as^ on the whole, it was a period of great tranq^uillity. 
 
 PRODUCE of the CUSTOMS, EXCISE, STAMPS, and 
 LAND TAX, during the Reign of GEORGE L 
 
 
 
 Cufloms. 
 
 Excife, includ- 
 ing the an- 
 nual Malt. 
 
 Stamps. 
 
 Land Tax. 
 
 Produce from Chriftmas 
 
 £' 
 
 X. 
 
 ^. 
 
 ^• 
 
 1715 
 
 to ditto 1 7 16 
 
 1,742,844 
 
 2,125,262 
 
 11 1,904 
 
 2,038,065 
 
 
 1717 
 
 1,810,229 
 
 2,205,269 
 
 122,182 
 
 1,^0,175 
 
 
 1718 
 
 1,800,094 
 
 2,208,393 
 
 120,381 
 
 1.539.514 
 
 
 1719 
 
 1,631,269 
 
 2,215,269 
 
 ^^^^^Zl 
 
 1,529,263 
 
 
 1720 
 
 i.559'255 
 
 2,231,019 
 
 148,345 
 
 1,529,235 
 
 
 1721 
 
 "^^SSS-f^S"^ 
 
 2,253,480 
 
 142,304 
 
 1,019,412 
 
 
 1722 
 
 1,598,027 
 
 2,421,876 
 
 124,685 
 
 ^037.799 
 
 
 1723 
 
 1,621,371 
 
 2,456,518 
 
 130,409 
 
 1.559.5 H 
 
 
 1724 
 
 1,740,858 
 
 2,336,992 
 
 126,602 
 
 1,030,744 
 
 
 1725 
 
 1,618,812 
 
 2,529>293 
 
 127,782 
 
 1,032,212 
 
 
 1726 
 
 1,498,742 
 
 2,402,267 
 
 127,592 
 
 1,026,208 
 
 ■ 
 
 1727 
 
 1.5^3,483 
 
 2,621,346 
 
 '^Z\^ZSi 
 
 2,053,287 
 
 
 1728 
 Total £ 
 
 1,872,342 
 21,632,985 
 
 2,414,467 
 30,421,451 
 
 140*933 
 
 1.544,594 
 
 « 
 
 1,675,609 
 
 18,470,022 
 
 The incidental or mlfcellaneous taxes during this reign might pro- 
 duce at an average about 400,000/. per annum ^ and confequently may 
 be eftimated at 4,800,000/. during the whole period. 
 
 The
 
 22 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Ufeful com- 
 mercial re- 
 gulations. 
 
 The loans of George I. and his refources of a cafual nature, were 
 comparatively very fmall, and may be dated as follows: 
 
 1. By I Geo. I. fta. 2. cap. 12 & 19 
 
 2. Ditto cap. 21 
 
 3. By 6 Geo. I. cap. 11 - 
 
 4. By 7 Geo. I. fta. i. cap. 27 
 
 5. By 8 Geo. I. cap. 20 
 
 Sums raifed, or funded. 
 /■ 910,000 
 
 169,000 
 
 312,000 
 
 300,000 
 
 141,093 
 
 6. By 12 Geo. I. cap. 2. (to pay the civil lift debts) 1,000,000 
 
 £ 2,832,093 
 
 Of this fum the 5th article ndight be charged with propriety to 
 Queen Anne's account, as it was appropriated for the relief of the in- 
 habitants of Nevis and St. Chriftopher's, who had fuffered by an Invafion 
 of the French in the war ended by the peace of Utrecht, and for whofe 
 behoof a fum was voted by parliament for the purpofe of encouraging 
 them to refettle in thefe iflands. 
 
 The whole fum to be charged to the exchequer of George the Firft 
 will then be nearly as follows : 
 
 The cuftoms 
 Excife 
 Stamps 
 Land tax 
 Incidents 
 
 Loans 
 
 £ 21,632,985 
 
 30,421,451 
 
 1,675,609 
 
 18,470,022 
 
 4,800,000 
 
 77,000,067 
 2,832,093 
 
 £ 79,832,160 
 
 Some financial events took place about this time, which it may be 
 proper to notice. 
 
 An a£t was pafled, anno 1721, abolifhing all duties payable by law 
 on the exportation of any goods or merchandize of the produce or 
 manufadure of Great Britain, after the 25th March 1722, except on 
 
 allum, 
 
 4
 
 OFTHEBRITISHEMPIRE. 23 
 
 allum, lead, tin, coals, and fome other lefs Important articles ; and all 
 forts of drugs and foreign goods ufed in dying, were permitted to be 
 imported duty free\ As a farther encouragement alfo to the trade 
 and navigation of the country, whale-fins and oil caught in the 
 Greenland feas, or Davis's Straits, by Britifh {hips navigated according 
 to law, were exempted from all duties upon importation". But this 
 encouragement proving infufficient, it was found necefTary, in the 
 fucceeding reign, to promote fo ufeful a nurfery for our feamen, by a 
 bounty. 
 
 By the annual land-tax bill, the eftates of papifts and nonjurors are "^.^^ °" P^- 
 taxed double. But not fatisfied with impofing that burden, par- nonjurors, 
 liament, an;io 1722, laid the additional fum of 100,000/. upon their 
 real and perfonal property ; and to prevent the tax from being evaded, 
 fpecific fums were aflefled upon each county, and upon fome of the 
 cities of the kingdom. The tax notwithftanding produced only 
 96,000/^ 
 
 The prodigality of minlfters in the management of the civil lift Eftabiifli- 
 revenue, during this reign, was fuch, that a great debt had been ac- ^mpanierof 
 cumulated. In order to procure fome afliftance for difcharging it, infurance. 
 without impofing any new aid for that purpofe, two companies called 
 the Royal Exchange, and London Aflurance companies, were efta- 
 bliflied, each of which agreed to pay 300,000/. for the ufe of his 
 majefty. The fum, however, was found too great, and was after- 
 wards reftricted to 150,000/. each; "in tender confideration of the 
 "■ great difficulties which the faid companies laboured under-." 
 
 The public revenue at the time of this monarch's death produced, on 
 a medium of four years, as follows : 
 
 Cuftoms - - - - ^ i,53o>36i 
 
 Excife, dedu<SlIng 6d. per bufhel on malt - 1,927,354 
 
 Stamps _ _ . _ 132,665 
 
 Duty on houfes and windows ^ - 131,011 
 
 Hackney coaches and chairs - - 9>523 
 
 Carried over jC 3'73°>9H 
 
 8 Geo. I. cap. 15. fed. 7, 8, 9, 10, 11. "10 Geo. I. cap. 16. 
 
 9 Geo. I. cap. 18. * 7 Geo. I. flat. i. cap. 27.
 
 -HISTORY OF THE PUBLIC REVENUE 
 
 Bix>uglit over £ 3,730,914 
 
 Hawkers and pedlars _ - _ 8,055 
 
 ^d. per pound on places and penfions - 31*504 
 
 Firft-fruits and tenths — * 1 6,473 
 
 Poft-office - - - - 75'545 
 
 Salt duty _ . - - 185,505 
 
 Small branches belonging to the civil lift - 55*892 
 
 Taxes known under the name of the general. fund 58,755 
 
 Total appropriated revenue - - 4^^2,643 
 .Land-tax at 4 J. ~ ^ £ 2,000,000 
 Malt at 6d. per bufhel — 750,000 
 
 2,750,000 
 Dedu£t deficiencies in thefe taxes amto 
 
 lyzG - - 150,000 2,600,000 
 
 Total jC 6,763,643 
 
 G E O R G E II. 
 
 Refined and fpeculative politicians, who are too apt to imagine that 
 the counfels of princes are uniformly regulated by fome particular 
 fyftem ; and who hold it necefiary to give plaufible reafons for every 
 hiftorical event, have endeavoured- to account for the imraenfe fums 
 of money levied and expended during the reign of George II. by 
 aflerting that the court was fully imprelTed with an idea, that no- 
 thing could curb the turbulent fpirit of the EngliHi, or prevent 
 another revolution, but engaging them in perpetual wars, and loading 
 them with the heavieft taxes. It is dilEcult to pry into the fecret 
 intentions of fovereigns, efpecially as their views muft often be al- 
 tered by a change in the minifters they employ, and by a variety of 
 other circumftances of fmaller importance. Nor is it to be denied 
 that the difcharging the incumbrances of the nation does not feem 
 to-^iave been a very favourite meafure with this monarch, or his mi- 
 nifters. But if any political fyftem was invariably adhered to during 
 this reign, the purport of it appears to have been to leave things as 
 
 they
 
 OF THE BRITISH EMPIRE. 
 
 25 
 
 they were, and to check any attempt that might be made to Innovation, 
 or even inquiry. 
 
 The principal taxes that exifted during this reign produced as follows: 
 
 
 Cuftoms. 
 
 £• 
 
 Excife. 
 
 £ 
 
 Stamps. 
 
 Land Tav. 
 
 Produce from Chriftmas 
 
 £■ 
 
 £• 
 
 1728 
 
 to ditto 1729 
 
 1^654,576 
 
 2,416,378 
 
 134,008 
 
 1.030,767 
 
 
 1730 
 
 ^^^'^s^z^^ 
 
 2,636,914 
 
 132,186 
 
 1,051,627 
 
 
 1731 
 
 ^^^S^yS^^i 
 
 2,660,422 
 
 145,361 
 
 509,600 
 
 - 
 
 1732 
 
 ^.Z^-7^^2>9 
 
 2,670,442 
 
 121,404 
 
 542,742 
 
 
 1733 
 
 1,914,056 
 
 2,862,392 
 
 116,325 
 
 1,039,689 
 
 
 1734 
 
 1.3^9.329 
 
 2,698,512 
 
 1 16,870 
 
 1,019,000 
 
 
 1735 
 
 ^^Si^^i^Z 
 
 2,608,843 
 
 118,754 
 
 1,019,080 
 
 
 1736 
 
 1,602,580 
 
 2,618,051 
 
 1 19,189 
 
 1,019,000 
 
 
 1737 
 
 i>599>873 
 
 2,673,604 
 
 122,668 
 
 1,019,000 
 
 
 1738 
 
 1,481,569 
 
 2,697,130 
 
 120,554 
 
 1,019,054 
 
 
 1739 
 
 1,470,898 
 
 2,758,297 
 
 117,470 
 
 2,038,109 
 
 
 1740 
 
 1,212,831 
 
 2,580,329 
 
 117,120 
 
 2,038,080 
 
 
 1 741 
 
 1,704,129 
 
 2,366,882 
 
 118,476 
 
 2,038,065 
 
 
 1742 
 
 979.433 
 
 2,587.716 
 
 117.509 
 
 2,038,065 
 
 
 1743 
 
 1.303.677 
 
 2,609,193 
 
 115,611 
 
 2,038,065 
 
 
 1744 
 
 ij002,597 
 
 2,877,464 
 
 119,222 
 
 2,038,065 
 
 
 1745 
 
 1,198,221 
 
 2,682,467 
 
 120,094 
 
 2,038,065 
 
 
 1746 
 
 1.055.388 
 
 2,729,144 
 
 113,481 
 
 2,038,065 
 
 
 1747 
 
 1,370,741 
 
 2,974,141 
 
 120,317 
 
 2,038,065 
 
 
 1748 
 
 1,892,962 
 
 3,088,813 
 
 121,124 
 
 2,038,007 
 
 
 1749 
 
 1.5 15.329 
 
 3.148,497 
 
 1 1 7,640 
 
 1.528,505 
 
 
 1750 
 
 1,614,982 
 
 3,185,408 
 
 119,991 
 
 1,500,000 
 
 
 1751 
 
 ^^S2>7^72>?> 
 
 3,270,611 
 
 117.559 
 
 1,528,459 
 
 
 1752 
 
 1,892,871 
 
 3,151,080 
 
 1 18,049 
 
 1,000,000 
 
 
 1753 
 
 1,612,704 
 
 3.287,015 
 
 1 1 1,862 
 
 1,000,000 
 
 
 1754 
 
 1.550,413 
 
 3.4-53.177 
 
 116,589 
 
 1,018,946 
 
 
 1755 
 
 1,542,066 
 
 3.430,248 
 
 120,109 
 
 2,037,893 
 
 
 1756 
 
 1,487,871 
 
 3.350,992 
 
 129,204 
 
 2,037.874 
 
 
 1757 
 
 2,118,350 
 
 3,028,254 
 
 207,459 
 
 2,037,874 
 
 
 1758 
 
 1,817,017 
 
 3,286,825 
 
 267,725 
 
 2,037,854 
 
 
 1759 
 
 1.985,376 
 
 3,470,577 
 
 260,860 
 
 2,037.854 
 
 
 1760 
 Total £ 
 
 2,295.791 
 49,838,854 
 
 3.887,349 
 93,747,167 
 
 263,207 
 
 2,037.854 
 
 
 4>377.997 
 
 49.453.323 
 
 Part III.
 
 26 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 It is unneceflary to enter very minutely into the amount of the 
 mifcellaneous taxes : they might produce at an average about 600,000/. 
 per annum, and confequently in the fpace of thirty-three years, the 
 fum of 19,800,000/. 
 
 The loans during this monarch's reign may be thus ftated : 
 
 £ 1,200,000 
 600,000 
 800,000 
 1,800,000 
 1,800,000 
 2,000,000 
 3,000,000 
 4,400,000 
 1,000,000 
 6,930,000 
 3,072,472 
 1,000,000 
 2,100,000 
 1,000,000 
 2,000,000 
 3,000,000 
 5,000,000 
 7,590,000 
 8,240,000 
 
 By 4 Geo. II. cap. 
 
 9 
 
 9 Geo. 11. cap. 
 
 34 
 
 15 Geo. II. cap. 
 
 19 
 
 16 Geo. II. cap. 
 
 13 
 
 17 Geo. II. cap. 
 
 18 
 
 18 Geo. II. cap. 
 
 9 
 
 19 Geo. II. cap. 
 
 12 
 
 20 Geo. II. cap. 
 
 3 
 
 20 Geo. II. cap. 
 
 10 
 
 21 Geo. II. cap. 
 
 2 
 
 22 Geo. II. cap. 
 
 23 
 
 23 Geo. II. cap. 
 
 16 
 
 24 Geo. II. cap. 
 
 2 
 
 28 Geo. II. cap. 
 
 15 
 
 29 Geo. II. cap. 
 
 7 
 
 30 Geo. II. cap. 
 
 19 
 
 31 Geo. II. cap. 
 
 22 
 
 32 Geo. II. cap. 
 
 10 
 
 2,2, Geo. II. cap. 
 
 7 
 
 56,532,472 
 
 By 15 Geo. II. cap. 13. the bank advanced - 1,600,000 
 By 17 Geo. II. cap. 17. advanced by the Eafl 
 
 India Company _ _ _ 1,000,000 
 
 £ 59.132,472 
 
 The
 
 OF THE BRITISH EMPIRE. 27 
 
 The total fums then to be accounted for during the reign of George II. 
 will be as follows; 
 
 Cuftoms _ _ _ _ 
 Excife (including annual malt) 
 Stamps _ _ _ _ 
 Land-tax _ _ _ _ 
 Mifcellaneous taxes _ _ _ 
 
 £ 49.838,854 
 93.747.167 
 
 4.377.957 
 
 49.453.323 
 19,800,000 
 
 Loans 
 
 217,217,301 
 59,132,472 
 
 Total 
 
 r 276,';aq,77'? 
 
 The abolition of a tax is fo uncommon a circumftance in the modern Salt-tax. 
 financial hiftory of this countrj'-, that it merits particular attention 
 whenever it has occurred. The duty upon fait had been long com- 
 plained of as burdenfome to the poor, injurious to many of our ma- 
 nufa<Stures, and fatal to the progrefs of the Britifh fifheries, fo eflential 
 to our naval ftrength ; and fuch, it was imagined, was the flourifhing 
 ftate of the revenue at the commencement of this reign, that this 
 duty might be fafely difpenfed with. Accordingly, by an adl paffed 
 a7ino 1729^, both the cuftoms and excife upon fait were abolifhed 
 from Chriftmas 1730. But before the meafure could operate bene- 
 ficially to the nation, the abolifhed duties were revived''; at firft only 
 for three years, though fince they have been rendered perpetual. 
 Sir Robert Walpole, who was then chancellor of the exchequer, and 
 who had moved the repeal, was not aftiamed of ading the inconfiftent 
 part of propofmg the revival. His objed was to ingratiate himfelf, 
 by that means, with the landed intereft ; for it enabled him to reduce 
 the land-tax to one {lulling in the pound. But it may be aflced in 
 the words of an author, who has given us an account of thefe tranf- 
 adions : " Can we fuppofe that any man who is a friend to the fifhery, 
 " or the naval power of this nation, will ever vote for continuing fo 
 " pernicious a burden'' ?" 
 
 ^ 3 Geo. II. chap. xx. " 5 Geo. II. chap. vi. 
 
 '' Hiftory of our National Debts, part i^'. p. 50. alfo p. 38. and 64. 
 
 E 2 When
 
 a5 HISTORY OF THE PUBLIC REVENUE 
 
 When the falt-tax was revived, fome very ufeful regulations were 
 propofed, to prevent its proving fo very pernicious as it had formerly 
 been. In particular it was fuggefted, that all fait employed in vic- 
 tualling fhips, in manuring land, in dreffing and curing leather, and 
 in making glafs and glafs bottles, fliould be exempted from duty. 
 But fuch propofals were reje£ted : fome favour was fhewn to the 
 iiflieries ; but fuch is the trouble with which receiving drawbacks and 
 bounties is attended, that nothing but a total abolition of the duty 
 once more, or at lead a commutation of it, in fo far as refpetfts Scot- 
 land, can eftablilh that moft elTential branch of commerce to the extent 
 to which it might be carried to the great advantage of this nation. 
 General ex- The plan propofed by Sir Robert Walpole, known under the name 
 '''^' of the General Excife, proves that minifter's ability and Ikill in the 
 
 revenue department, had he chofen to exercife it. It was a fyftem, 
 which, however ruinous it might be to the fmuggler, yet to the fair 
 trader would have proved' infinitely beneficial. The public, it is true, 
 would thereby have loft the temporary ufe of the money, which by 
 the prefent laws muft be paid whenever goods are imported, and are 
 drawn back upon exportation. But in return it would have enjoyed 
 this advantage, that it could hardly have fufFered in the manner it has 
 done, by frauds in the article of drawbacks. As to the plan infringing 
 the liberties of the people, the clamours excited againft it on that 
 head were in the higheft degree unjuft. The laws of the excife have 
 fince been extended in a variety of inftances, without making the 
 people flaves, as the nation was taught to believe would have been the 
 cafe had the excife bill pafled. Nor is there any hardfhip in putting 
 the dealer in excifeable commodities under fuch regulations, as may 
 prevent private individuals from fraudulently enriching themfelves at 
 the public expence. 
 Coach-tax. It will fcarcely be credited by thofe who maintain the imprac- 
 
 ticability of levying fuch additional taxes upon the public, as might 
 have kept down, if not totally extinguifhed the debts of the nation, 
 that it was not until the year 1 747 that a duty was laid upon coaches, 
 belonging to private individuals, not let out to hire. Four pounds 
 was the original tax% which has fince beeu increafed to feven. 
 
 ' 20 Geo. II. chap. x. 
 
 Even
 
 OF THE BRITISH EMPIRE. 29 
 
 Even at that rate, it is not a little unequal : hackney coaches are now 
 taxed at the rate of T-dL per annum. In order that the proprietors,, 
 who are Ucenfed, may be enabled to pay that fum, and to acquire 
 fufficient profit to themfelves, they are fuffered to make exorbitant 
 charges on the public. Hence it is evident, that fuch as are rich 
 enough to keep cairiages of their own, pay proportionably an inferior 
 rate to thofe who are obliged to hire carriages from others. 
 
 Anno 1759, the year preceding this monarch's death, the public 
 revenue produced the following fums : 
 
 STATE of the PUBLIC REVENUE, anno 1759. 
 
 Cuftoms . . . _ ^ 1,985,376 
 
 Excife (including annual malt) - - 3,887,349 
 
 Stamps _ _ _ _ 263,207 
 
 Incidents - - - - 650,000 
 
 Land-tax at 4/. given for - £ 2,000,000 
 
 Dedu£l the deficiencies as /^r ac- 
 count 1760 - - 262,392 
 
 <^,785»932 
 
 i,737>6c8 
 
 Total £ 8,523,540 
 
 GEORGE in. 
 
 From 1760 to 1789, though a fpace of only 28 years, fuch fums 
 have been paid into the public treafury, as the reader will hardly believe 
 when they are accumulated together. Nothing can more clearly de- 
 monftrate the immenfe wealth and refources of Great Britain , and had 
 any confiderable portion of that money, inftead of being wafted in war, 
 been laid out in cultivating the arts of peace, the nation would perhaps 
 have grown too rich and powerful. Confiderlng, however, the diffi- 
 culties with which we had to ftruggle during the late war, there is at 
 this time unqueftionably more reafon to be fatisfied with the fituation 
 in which we are now placed, than of grieving that we are not in that 
 I ftate
 
 3° 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 ftate of fplendid profperity which is too apt to intoxicate a nation, and 
 has often proved the real fource of weaknefs and of calamity. 
 
 As it is propofed to give, in the third chapter of this work, a view of 
 the prefent ftate of our revenue, and the particulars of which it confifts, 
 it will be fufficient at this time to furnifh the reader with an account 
 of the money raifed by taxes from Michaelmas 1760 (about which 
 time our prefent fovereign mounted the throne) to Michaelmas 1788. 
 
 PROGRESS of the REVENUE from Michaelmas 1760 to 
 
 Michaelmas 1788. 
 
 £ 8,800,000 
 
 8,950,000 
 
 9,100,000 
 
 9,250,000 
 
 9,300,000 
 
 9,350,000 
 
 9,200,000 
 
 9,250,000 
 
 %35o>ooo 
 
 9,500,000 
 
 9,650,000 
 
 9,850,000 
 
 10,066,661 
 
 10,285,673 
 
 10,038,061 
 
 10,265,405 
 
 10,604,013 
 
 10,732,405 
 
 11,192,141 
 
 12,255,214 
 
 12,454.936 
 
 i2,593>297 
 17,962,718 
 
 12,905,519 
 14,871,520 
 15,096,1 12 
 15,360,857 
 15,572,971 
 
 Anno 1761" 
 
 
 — - 
 
 1762 
 
 
 ■a ~ 
 
 1763 
 1764 
 
 , Land-tax at 4^. 
 
 1765 
 
 
 - 
 
 1766. 
 
 
 - 
 
 1767- 
 
 
 - 
 
 1768 
 
 
 - 
 
 1769 
 
 
 - 
 
 1770 
 
 
 - 
 
 1771 ' 
 
 > Land-tax at 3 s. 
 
 1772 
 
 
 - 
 
 1773 
 
 
 - 
 
 1774 
 
 
 - 
 
 1775 J 
 
 
 - 
 
 17761 
 
 
 - 
 
 1777 
 
 
 - 
 
 1778 
 
 
 - 
 
 1779 
 
 
 - 
 
 1780 
 
 
 - 
 
 1781 
 
 
 - 
 
 1782 
 
 > Land-tax at 4/. 
 
 1783 
 
 
 - 
 
 1784 
 
 
 - 
 
 1785 
 
 
 - 
 
 1786 
 
 
 - 
 
 1787 
 
 
 - 
 
 1788. 
 
 
 - 
 
 Total ;C 307,807,503
 
 OF THE BRITISH EMPIRE. 31 
 
 The loans during ihis reign have been equally diftinguifhcd by the 
 magnitude of their amount. The different periods at which they took 
 place, and the fum borrowed or funded by each adt, will appear from 
 the following ftatement. 
 
 Sums borrowed or funded. 
 
 By I Geo. III. cap. y. - - £ 12,000,000 
 
 1 Geo. III. cap. 20. - - - 1,500,000 
 
 2 Geo. III. cap. 10. - - - 12,000,000 
 
 3 Geo. III. cap. 9. - - - 3A^3^553 
 
 3 Geo. III. cap. 12. - - - 3,500,000 
 
 4 Geo. III. cap. 25. - - - 1,000,000 
 
 5 Geo. III. cap. 23. - - - 1,500,000 
 
 6 Geo. III. cap. 39. - - - 1,500,000 
 y Geo. III. cap. 24. - - - 1,500,000 
 8 Geo. in. cap. 31. - - - 1,900,000" 
 
 16 Geo. HI. cap. 34. - - - 2,000,000 
 
 17 Geo. III. cap. 46. - - - 5,500,000 
 
 18 Geo. III. cap. 22. _ _ _ 6,000,000 
 
 19 Geo. III. cap. 18. - - - 7,000,000 
 
 20 Geo. III. cap. 16. - - 12,000,000 
 
 21 Geo. III. cap. 14. - - - 12,000,000 
 
 22 Geo. III. cap. 8. - - - 13,500,000 
 
 23 Geo. III. cap. 2)S' - ' - 12,000,000 
 
 24 Geo. III. cap. 10. - - - 6,000,000 
 
 24 Geo. III. cap.-39. _ - _ 6,879,341 
 
 25 Geo. III. cap. 33. and 71. - - 10,990,651 
 
 To which there is to be added, 
 
 1. From the Bank of England, by 4 Geo. III. 
 
 cap. 25. - - - _ ^110,000 
 
 2. Various fums received from the Eaft India Com- 
 
 pany for the territorial revenues and otherwife, 
 
 not included in cuftoms paid to the exchequer 3,200,000 
 
 Carried over JT 137,063,545
 
 4ft HISTORY OF THE PUBLIC REVENUE 
 
 Brought over £ 137,063,545 
 J. Difference between the unfunded debt and other 
 neceflary expences or claims, as that debt Hood 
 /7;/«oj 1760 and 1788* - - 5,170,273 
 
 Total ^142,233,818 
 
 Hence it will appear that the fum paid into the exchequer of George 
 the Third, free of all charges, and without including the cafual profits 
 of a lottery, and other refources that might be mentioned, in the fpace 
 only of 28 years, is as follows : 
 
 1. By taxes - _ - ^307.807,503 
 
 2. By loans, ^c. ^ _ - 142,233,818 
 
 Which Is at the rate of 16,071,475/. per annum. 
 
 ^450,041,321 
 
 It may now be proper to give an account of the progrefs of the public 
 revenue, and an abftradt of the total fupply, from the 5th November i688 
 to Michaelmas 1788, drawn up from the preceding ftatements. 
 
 '' The difFerence between the unfunded debt anno 1760 and anno 1 7 88, is calculated as 
 ■follows : 
 
 UNFUNDED DEBT anno 1788. 
 
 Exchequer bills - _ _ _ ■ ^ 5,500,000 
 
 Navy debt on 5th January 1789 - - - 2,251,079 
 
 American loyalifts, extraordinaries of the army and navy, deficiencies 
 of land and malt, and various other claims and expences not yet 
 liquidated, fuppofed in all to amount to - - 3,000,000 
 
 ;(; 10,751,079 
 
 UNFUNDED DEBT anm 1760. 
 
 Navy debt 13th September 1760 - - j^ 3,490,806 
 
 Debt of the Ordnance (Suppofcd) - - 590,000 
 
 Xxchequer bills - . _ _ 1,500,000 
 
 5,580,806 
 
 Difference iC 5>i70>273
 
 OF THE BRITISH EMPIRE. ' 2Z 
 
 PROGRESS of the PUBLIC REVENUE fince the Revolution. 
 
 Income of James II. - - ^^ 2,001,855 
 
 Increafe during the reign of King William - 1,893,350 
 
 Income of King William - £ 3^895,205 
 
 Increafe during the reign of Queen Anne - 1,-96,598 
 
 Income nf England at the Union - 5,691,803 
 
 Increafe during the reign of George I. - 1,070,840 
 
 Income of George I. ~ - £ 6,762,643 
 
 Increafe during the reign of George II. - 1,759,897 
 
 Inccme of George II. - - ^8,522,540 
 
 Increafe during the reign of George III. - 7,050,431 
 
 State of the public revenue at Michael- 
 mas 1788 - - _ ^15,572,971 
 
 ABSTRACT of SUPPLIES fmce the Revolution. 
 
 Supplies during the reign of King William ^72,047,369 
 
 Queen Anne - 122,373,531 
 George I. - 79,832,160 
 
 George IL - 276,349,773 
 
 George III. from his 
 acceffion to Michael- 
 mas 1788 - 450,041,321 
 
 Grand total ^ 1,000,644,154 
 
 Having thus accumulated, with as much accuracy as circumftances 
 would admit of, the various furas which have palTed into the exchequer 
 of this country for this century paft, I fliall new proceed to explain in 
 what manner this nation has contrived, in the comparatively fhort period 
 of one hundred years, to expend above a thoufand millions of Englifh 
 money, equal to about 24,000,000,000 of French livres. 
 Part III. • F
 
 34 HISTORY OF THE PUBLIC REVENUE 
 
 CHAP. II. 
 
 Of the Progrefs of the public Expences fence the Revolution. 
 
 IN private life, when an Individual finds himfelf Involved in pecuni- 
 ary diftreffeSi from the expences he has Incurred either by carelefl"- 
 ncfs or imprudence, the only mode of retrieving his affairs is, to ex- 
 amine into his paft expenditure, to fee what part of his income was 
 properly laid out, and in what articles a faving may be practicable. 
 After fuch an inveftigation, it will be much lefs difRcult to forra^a plan 
 fuitable to his circumftances in life, ,and confiftent with his real fitua- 
 tion. 
 
 The fame fvftem Is the only mode by which the embarraffed ftate of 
 public affairs can be remedied ; by which minifters can be taught wif- 
 dom ; and nations, too prone to rufti headlong into wars and other 
 heedlefs expences, may learn to imbibe the principles of moderation and 
 of peace. Wars fometimes are unavoidable ; for no ftate ought tamely 
 to bear repeated infults, or fuffer a proud and arrogant neighbour to lord 
 over it. If a nation feems afraid of war, it only expofes itfelf to the 
 incroachments of others, who, If fuccefsful in one unjuft demand, 
 are thereby encouraged in attempting to make further claims. Too 
 pacific a fyftem, therefore, whilft other ftates have either ambition 
 or avarice in their councils, muft ever be dangerous. But the great 
 leffon, which It Is hoped the prefent inveftigation will Imprefs on the 
 mind of every Britifh citizen. Is this, that however wars may tend to 
 aggrandize the names, or to augment the fortunes of a few particular 
 individuals ; and though it may be fometimes neceffary to check the 
 ambitious defigns of other powers ; yet that no country can ever expeft 
 to be Indemnified, by the conquefts it may acquire, for the money 
 which muft neceffarily be expended in the courfe of long and extenfive 
 hoftilities, in addition to all the bloodfhed and calamities incident to 
 fuch fcenes. 
 
 3 But
 
 OF THE BRITISH EMPIRE. 35 
 
 But war Is not the only idle expence Into which modern nations, and 
 Great Britain ia particular, have fallen. Even in time of peace, wanton 
 and unneceflary charges are too often incurred. Not fatisfied with endea- 
 vouring to acquire extenfive territories by force of arms, -a rage for acquifi- 
 tion by the mode of colonization has become prevalent ; and a nation 
 flatters itfelf to increafe its riches, population, and induftry, by fending 
 a part of its fubje(fts to cultivate and improve diftant regions, inftead of 
 Improving and cultivating at home. The revolt of our late colonies in 
 America, and a ftatement of the expence occafioned by their eftablifli- 
 ment, will probably prevent fuch ridiculous projects for the future. 
 
 In a former chapter, an account was given of the particular fums 
 raifed during each reign fmce the revolution, and of the total of rhofe 
 fums paid into the exchequer from that memorable era. It is now pro- 
 pofed to give a general view of the manner in which that money was 
 
 expended. By entering into minute inquiries, this work might 
 
 eafily be extended ; but it would only have the effe<fl of rendering it 
 lefs amufmg, and more obfcure and unintelligible. 
 
 WILLIAM III. 
 
 In the preceding chapter, it was ftated, that the money received by 
 the exchequer during this reign amounted to 72,047,369/. The man- 
 ner in which this fum was expended is now to be explained. 
 
 No fpecific fum was allotted at this period for the peculiar expences i. Civil lift, 
 of the fovereign. Certain taxes, however, were appropriated for that 
 purpofe, amounting at an average to about 680,000/. per annum ; and 
 the accompt that was made up of the charges of the civil lift during this 
 rei^n, was as follows : 
 
 STATE of the EXPENCES of the Civil Lift, from 5th November 
 
 1608 to 25th March 1702. 
 
 To the cofferer of the houfehold - ^T 1,300,130 2 2-1 
 
 To the treafurer of the chambers - 484,763 16 ii 
 
 Carried over ;^ 1,784,893 18 4'- 
 F 2
 
 328 
 
 16 
 
 
 
 319,876 
 
 8 
 
 2^ 
 
 42,844 
 
 4 
 
 5 
 
 57'i28 
 
 2 
 
 2t 
 
 5>i2o 
 
 I 
 
 3 
 
 474,050 
 
 15 
 
 i; 
 
 4,000 
 
 
 
 
 
 36 HISTORY OF THE PUBLIC REVENUE 
 
 Brought over ^1,784,893 18 4; 
 To the treafurer of the chambers for the charges 
 
 of the late queen's coffin, &c. 
 To the great wardrobe 
 
 To the treafurer of the chambers for the late 
 queen's mourning - - - . 
 
 To the robes _ _ _ _ 
 
 Ditto to the Lord Sydney upon account of clothes 
 furnifhed King Charles II. when he was mailer 
 of that office - - - - 
 
 To the paymafter of the works - 
 
 To ditto on account of the late queen's funeral 
 To Mr. Roberts, paymafter of the works at 
 Windfor, on account of works there, over and 
 above what has been paid thereunto out of the 
 revenues and honour of the caftle of Windfor 5>ooo o o 
 
 Gardens. — Upon account of making his majefty's 
 gardens, over and above the gar- 
 deners falaries payable by the trea- 
 furer of the chambers, until 1695 II5',097 12 7I 
 On the contraill for 4,800/. per aunuin^ 
 
 commencing from 1695 - 16,800 o o 
 
 On the new allowance of 2,600/. per 
 annum^ which commenced from 
 Chriftmas 1700 - - 1,900 o o 
 
 Stables. — For buying horfes, for liveries, and ex- 
 
 traordinaries - - 235,965 15 3t 
 
 Foreign minifters, for ordinaries and extraordi- 
 
 naries _ _ . . 462,753 7 2i. 
 
 Fees and falaries _ _ - 858,056 16 9 
 
 Penfions and annuities - - - 686,189 17 7 
 
 Queen-dowager - - - i; 8,031 15 4 
 
 Late queen's treafurer - - - ^o^^t^^^ 16 1^ 
 
 Ditto for French proteftants - - 75,000 o O 
 
 Prince and princefs of Denmark - - 638,921 15 7^ 
 
 Duke of Gloucefter on 1,500/. /^r^««»»2 - 37j500 o o 
 
 Carried forward ;iC 6,485,815 16 i^
 
 OF THE BRITISH EMPIRE. 
 
 37 
 
 6,485,815 16 i^ 
 
 69,000 o o 
 
 616,323 7 2 
 
 76,963 19 6 
 
 82,100 o o 
 
 '^^3,555 o o 
 
 24*571 5 4 
 
 33,600 o o 
 
 66,069 ° ° 
 
 102,843 13 8 
 
 226,823 19 I 
 
 Brought forward j[ 
 Band of gentlemen penfioners 
 Secret fervices. — Secretaries of the treafury 
 Secretaries of ftate 
 To particular perfons by his ma- 
 jefly's warrants under his 
 royal fign-manual 
 Privy purfe 
 Ditto for purchafing 7 To the Earl of Portland 
 
 fee-farm rents. j The Lord Somers, at 
 Jewels - - _ _ _ 
 
 Plate - . - - - - 
 
 Bounties paid at the exchequer to feveral perfons 
 
 by his majefty's particular warrants in that 
 
 behalf - - _ _ 
 
 Monfieur Fleury for goods taken from the 
 
 French at Bourbon- fort, Hudfon's Bay, and 
 
 given to the Hudfon's Bay Company, which, 
 
 by the treaty of Ryfwick, were to be re- 
 
 ftored _ _ _ _ 
 
 Subfcribers of 2,000,000/. for the Eaft India trade, 
 
 an allowance of i /. per cent. 
 The receivers of 2,000,000 /. in reward, and for 
 
 charges in paffing their accounts 
 To Mr. Stratford in part of 20,000 /. for cloth 
 
 fent to Sweden _ _ _ 
 
 Earl of Ranelagh for Lord Fairfax 600 /. ; 
 
 bounties for officers widows i ,670 /. ; for 
 
 French officers 730 /. ; for liveries for Lum- 
 
 ley's trumpeters 393/. 3 J. ; and for court drums 
 
 and fifes falary 240 /. - - - 
 
 Contingents of divers natures ; vi%. law charges ; 
 
 liberates of the exchequer ; riding charges to 
 
 meflengers of the court ; and receipt of ex- 
 chequer rewards and extraordinary charges to 
 
 receivers "■ ■' 
 
 Carried over ^i^" 8,346,41 7 o 10 
 
 7,086 17 o 
 
 20,000 o o 
 
 16,000 o o 
 
 12,000 O O 
 
 3><534 3 o
 
 38 HISTORY OF THE PUBLIC REVENUE 
 
 Brought over ^T 8,346,417 ( 
 receivers of taxes, and to feveral others on 
 fundry occafions ; furplufes of accounts, 
 printers bills ; fundry works and repairs by 
 the furveyors of the woods, the private roads, 
 and other particular officers ; his majefty's 
 fubfcription of 10,000/. to the bank of Eng- 
 land ; a like fum to the new^ Eaft India Com- 
 pany; as alfo 3,000/. for carrying on the trade; 
 bounties for apprehendinghighwaymen,traitors, 
 and libellers ; money paid for purchafing land 
 to be laid into his majefty's park at Windfor; 
 and very many other accidental payments 534,089 i 10 
 
 4 
 
 Total £ 8,880,506 
 
 Another mode of ftating this account is as follows : 
 
 Charges of the civil lift from 5 th November i 
 
 688 
 
 to Michaelmas 1689 
 
 ^428,918 
 
 1690 
 
 644,145 
 
 1691 
 
 657,092 
 
 ' 1692 
 
 631,988 
 
 1693 
 
 696,968 
 
 1694 
 
 682,436 
 
 1695 
 
 764,739 
 
 1696 
 
 699,485 
 
 1697 
 
 _ 745,496 
 
 1698 
 
 .?74,777 
 
 1699 
 
 892,669 
 
 1700 
 
 683,947 
 
 1701 
 
 704,412 
 
 to Ladyday 1702 , 
 
 293,949 
 
 Total ;^ 8,876,995
 
 OFTHEBRITISHEMPIRE. 39 
 
 There is no reign in which complaints were made, and to all appear- The navy, 
 ance with fo much juftice, of negle£t and inattention to the navy, as 
 when William III. fat upon the throne. That monarch was a foldier 
 and not a failor, which partly accounts for his having placed the direc- 
 tion of the naval department in improper and unfkilful hands. The en- 
 gagement off Beachy-head, which happened foon after the revolution, is 
 the only conflidl in the courfe of many years paft, that has in the lead 
 tarniftied the luftre of the Britifh flag. The lofs fuftained on that occa- 
 fion is juftly attributed to a very great inequality of force between the 
 two fleets, which was partly owing to the negligence of the Englifh 
 and Dutch admiralties, and partly to the fuperior activity of the French, 
 by whom 30 fail were blocked up in Plymouth harbour, and prevented 
 from joining the combined fleet until after the engagement. The ifliie 
 was, that 78 fail defeated ^6 ; and thus, the only vidory that a French 
 admiral could ever boaft of over a Britifh fleet, was gained without 
 much real honour or eclat. Nay, fuch was the negligence of our naval 
 rulers to the commerce of the kingdom, that when the French fleet was 
 unable to venture out of its ports, the privateers of France were fuflered 
 to range uncontrolled, preying upon our merchantmen, and enriching 
 themfelves with plunder to the value of many millions fterling'. 
 
 As the following fums were appropriated by parliament for the naval 
 department, its failure of fuccefs could not well be attributed to any de- 
 ficiency of refources, 
 
 Ifliied for naval ferv'ices from 5th November 1688 
 
 to Michaelmas 1691 /* 3)098,289 
 
 1692 1,239,289 
 
 1693 1,925,327 
 
 1694 2,131,693 
 
 1695 1,890,151 
 
 1696 1,922,451 
 
 1697 2,821,931 
 
 1698 877,455 
 
 Carried over .<C 15,906,586 
 
 * It is calculated, that in three years, prizes to the value of nine millions were taken 
 by the privateers of France.
 
 40 HISTORY OF THE PUBLIC REVENUE 
 
 Brought over jT 15,906,586 
 IfTueJ for naval fervices .from Michaelmas 1698 
 
 to Michaelmas 1699 1,232,065 
 
 1700 818,659 
 
 I 70 1 1,046,312 
 
 to Lady-day 1702 818,519 
 
 Total ;^ 19,822,141 
 
 The naval peace eftabliihment for the year 1698 amounted to 
 877,455 /. At the fame rate, the navy would have coil, during this 
 reign, about, ic, 200,000/. The difference, being 9,622.141 /. may- 
 be ftated as the extra naval expences during King Wilham's wars. 
 Army. The military expences, exclufive of thofe for Ireland, came to 
 
 18,166:051 /. ; and as nothing was allowed by parliament for the m.ain- 
 tenance of guards and garrifons in time of peace, except 300,000/. 
 a-year, that fum, during William's reign, would have amounted only 
 to 3,600,000 ; confequently the military charges of the waT came to 
 14,566,051/. 
 Ordnance. So low was the cftablifhment of the ordnance in time of peace, that, 
 
 anno 1698, only 50,000/. and anno 1699, but 25,000/. was voted for 
 that fervice : 50,000 /. however maybe called the peace cftablifliment 
 for fupplying both the navy and army with military ftores. During the 
 reign of William, this would amount to 600,000/. But as the ordnance 
 received in all 3,008,535 /. the war, it is evideut, muft have produced 
 an extra expcnce of 2,408,535 /. 
 Expences of The armament fitted out by the Dutch for bringing William over 
 tionr*^° "' '^^^° ^^^^ country occafioned a confiderable expence to the United Pro- 
 vinces, which England thought itfelf bound in gratitude to repay. For 
 that purpofe 600,000 /. was voted by parliament. This probably was 
 fully equal to the real charges of the expedition, though the bill ofcofts 
 given in came to 686,500/. 
 Expences for It is hardly neceffary to inform the reader, that the cftablifhment of 
 ofVe'^land.'°" William's fovereignty over Ireland met with a formidable refiftance in 
 that kingdom ; and it is a circumftance of which it may not be im- 
 » proper to remind our brethren in Ireland at this time, that for the 
 
 purpofe
 
 OF THE BRITISH EMPIRE. 41 
 
 purpofe of affecting the revolution there, the following fums were ifiued 
 from the exchequer of this country : 
 
 To Mr. Harbord - - ^1,073,288 12 y;. 
 
 Mr. Henley _ _ - 4,560 o 7! 
 
 Mr. Fox and Lord Conningfby - 2,773,806 7 9^^ 
 
 Befides naval expencesj which were far from being inconfiderable. 
 
 The miferable ftate of the coin, and the charges neceflary to brlno; it ^, 
 
 ' o J 'J 1 he recom- 
 
 to its proper ftandard, were fome of the greateft difficulties that William age. 
 and his mlnifters had to ftruggle with. The following fums were ex- 
 pended for that purpofe : 
 
 To the mint out of the coinage duty - jT 259,584 o o 
 
 Deficiency on the recoinage (of which how- 
 ever 184,656/. was repaid - 2,599,797 14 lo 
 
 New money, in part of 1,122,584/. old 
 money recoined, paid the navy and army 
 
 To the commiffioners of excife in new money 
 
 Exchequer bills delivered for money <2«7/o 1695 
 
 To the treafurer of the navy, being old 
 money new coined 
 
 To the paymafter of the forces for 13,000 /. 
 in old hammered money 
 
 jC3»i7o>84o 14 10 
 
 In payment either of the capital or of the intereft of the various debts jntereiiof the 
 which the public at that time owed, the following fums were iffued : jiMk debts, 
 
 and repay- 
 
 Intereft to feveral of the public creditors for temporary principal. 
 
 loans _ _ - - ;^ 5.2 1 6,530 
 
 Intereft to the bank of England - - 875,880 
 
 Annuities on the million a£l - - 1,079,809 
 
 84,963 
 56,988 
 
 158,589 
 
 
 
 
 
 4,422 
 
 
 
 6,497 
 
 
 
 Carried over j^" 7,172,219 
 Part III. G
 
 42 HISTORY OF THE PUBLIC REVENUE 
 
 Brought over £ j^i'ji^zK) 
 Annuities on the tonnage aft - - 287,059 
 Annuities for 16 years _ _ - 1,049,776 
 To the malt lottery office, part of 1,200,000/. prin- 
 cipal and intereft - - - 760,142 
 To fatisfy tallies on the excife and poft-office - 467,000 
 Intereft to the Eaft India Company - - 429,962 
 Expence of circulating exchequer bills - 254,1 19 
 Money advanced to King William atmo 1688 - 4,000 
 Principal money lent in the time of James II. - 138,412 
 Debts due to the fervants of King Charles II. - 60,000 
 Intereft of the bankers debt _ _ _ 466 
 
 neous ex- 
 
 pences. 
 
 /■ 10,619,555 
 
 Principal money repaid more than borrowed for 
 
 feveral years » - - 3,341,903 
 
 £ 1 3^96 1, 458 
 
 Mifcelia- The remaining expences during this reign were as follows : 
 
 Redemption of captives _ _ - ;^ 1,000 
 
 ' Privy purfe of the late King James at the exchequer 200 
 
 To receivers of taxes in rewards for extraordinaries 55466 
 To Patrick Hume, gentleman, to be paid as his ma- 
 
 jefty fhould diredt _ _ _ 5,200 
 
 To rewards for bringing in plate to be coined - 35846 
 
 To the treafurer of Greenwich hofpital - - 19,500 
 
 To the commifTioners for forfeited eftates in Ireland Zi^Z!^ 
 
 To the commiffioners for ftating the public accounts 3,500 
 
 It now only remains, in order to give a diftin£t view of the ftate of 
 the public expenditure during this reign, to furnifh the reader with an 
 abftradt, firft, of the total fum expended ; fecondly, of the peace efta- 
 blifhrnent ; and thirdly, of the charges of the war that was terminated 
 by the treaty of Ryfwick. i
 
 OF THE BRITISH EMPIRE. 43 
 
 GENERAL VIEW of the EXPENCES of King William's reign. 
 
 The civil lift - - _ ^ 8,880,506 
 
 The navy - - _ _ 19,822,141 
 
 The army _ - _ . 18,166,051 
 
 The ordnance _ _ _ 3»oo8,535 
 
 The Dutch expences for the revolution - 600,000 
 
 Expences for the reduftion of Ireland - 3>S5 1,655 
 
 Charges of recoinage - - _ 3,170,840 
 
 Principal and intereft of public debts - 13,961,458 
 
 Mifcellaneous expences _ _ _ 41,845 
 
 Balance of account ending at Ladyday 1702, and 
 
 various fmall fums - - 624,477 
 
 Total £ 72,127,508* 
 
 STATE of the PEACE ESTABLISHMENT. 
 
 The civil lift .- - - - ^ 680,000 
 
 The navy - - - . ^11 ASS 
 
 The army » - - . 300,000 
 
 The ordnance - - cr - 50,000 
 
 £. i>907'455 
 
 The charge of the war which William carried on againft Lewis XIV. 
 amounted to the following fums : 
 
 Extra expences of the navy - - £ 9,622,141 
 
 Ditto of the army - - 14,566,051 
 
 Ditto of the ordnance - - 2,408,535 
 
 26,596,727 
 
 Expences for the redudion of Ireland - '^^S'^-I^SS 
 
 £ 30.447^382 
 
 * Inftcadof 72,047,369/. asftated in p. 35, the total fupplies in King William's reign 
 amounted to 72,127,508/. including 80,138/. 18 J. Q\d. which remained in the exchequer 
 on 5th November 1688. See p. 12. 
 
 G 2 Thus
 
 44 HISTORY OF THE PUBLIC REVENUE 
 
 Thus it appears, that the extraordinary expences of the war, which 
 laftcd nearly ten years, amounted to a!)ove thirty millions ; and confe- 
 quently to about three millions /^-r annum. 
 
 But this expence, though heavy, was far from being entirely ufelefs. 
 The war, it is true, was neither fucceft-ful, nor (the battle off La Hogue 
 excepted) attended with any brilliant confequences. Yet ftill it ftiook 
 the power of Louis, who affedled to domineer over Europe, and ren- 
 dered it eafier, in the following reign, to control, and to reduce 
 within proper bounds the proud and afpiring monarchy he governed: 
 and it mull likewll'e be confidered, that this war was eflentially ne- 
 ceflarv tc protedt, to extend, and to coniirm the liberties of Britain, 
 which were in danger of falling a facritice to religious bigotry and 
 civil defpotifm. 
 
 Q^U E E N ANNE. 
 
 It has often been remarked, notwithftanding all the plaufible ob- 
 jedions which have been urged againfl; the government of women, 
 that no two periods in the hlftory of this country, fhine with more 
 dlftinguiflied luflre than thofe of Elizabeth and Anne. During the 
 reign of the former, this ifland had the glory of humbling the too 
 powerful monarchy of Spain ; and, during the government of the 
 latter, of checking the growth of the imperious houfe of Bourbon : 
 and had not Anne been unfortunately prevailed upon to change her 
 minillers, and to difmifs the invincible Marlborough from the com- 
 mand of her troops, it is more than probable that Europe would have 
 had as little reafon to dread the future enterprifes of France, as of 
 Spain. Nor would the latter have been the only example, in modern 
 Flurope, of an extenfive monarchy reduced within proper limits, after 
 vainly attempting to tyrannife over its neighbours. 
 
 But though the reigns of the two queens refemble each other in 
 fiiccefs, yet with regard to the charges by which that fuccefs was ac- 
 quired there is no fimllitude. The moderate expences of Queen 
 Elizabeth have been already ftated, in a former part of this work ; and 
 it is now propofed to give fome account of thofe which took place 
 v.'hilft Anne fat upon the throne. 
 
 The
 
 OF THE BRITISH EMPIRE. 45 
 
 The following fums were received under the head of civil lift Civil liil. 
 revenues : 
 
 From Lady-day to Michaelmas 1702 ^ 250,690 
 
 1703 601,081 
 
 1704 6 6,826 
 
 ^I'^S 595>999 
 
 1706 562,867 
 
 1707 637,000 
 
 1708 609,244 
 
 1709 579325 
 
 1710 568,627 
 
 1711 513,614 
 J 71 2 565,404 
 
 1713 57^227 
 
 1714 562,145 
 From Michaelmas 1714 to Lady-day 17 15 310,799 
 
 Total ^ 7,604,848 
 
 This, at a medium, amounted to 586,900/. per annum. But there 
 was alfo voted 27th June 171 2, the fum of 500,000/. to difcharge the 
 debts due on account of the civil government. 
 
 The general eftimate of the whole expence of the civil government 
 during this reign, was as follows : 
 
 In the cofferer's office - - _ ^ 85,000 
 
 In the treafurer of the chambers' office - 30,000 
 
 In the great wardrobe - - - 20,000 
 
 In the office of the robes _ _ _ 3,000 
 
 In the office of the works _ _ _ 39,000 
 
 For buying coaches, horfes, liveries, £9°^. - 10,000 
 
 For ordinary entertainments, Sfff. and the extraor- 
 
 dinaries of the queen's foreign minifters - 75,000- 
 
 Salaries payable to the exchequer - - 80,196 
 
 Penfions and annuities - - - 42,898 
 
 Carried over £ 385,094
 
 46 HISTORY OF THE PUBLIC REVENUE 
 
 Brought over £ 385>094 
 
 Annual penfions and bounties /"^r warrants - 87,495 
 
 Secret fervices to the fecretaries of ftate - 6,000 
 
 Her majefty's fecret fervices - - ay,ooo 
 
 Privy purfe _ - _ _ 30,000 
 
 Jewels, plate, and prefents to foreign minifters i5>ooo 
 
 Contingencies - _ _ _ 33,846 
 
 Total jr 584,435' 
 
 The civil lift revenues amounted to about 700,000/. a-year ; but the 
 queen devoted loo^oool. per arniiwi to the public fervice, for carrying 
 on the war; and at her death, the debts of the civil lift came only to 
 345,912/. whereas flie left funds belonging to her own revenues, 
 amounting to 379,448 /^ 
 The navy. How glorious foever vi£lories and conquefts at land may be ac- 
 
 counted, yet, to an ifland, great territorial acquifitions can never be of 
 eftcntial importance; whereas atchievements at fea, when properly 
 improved, may be of permanent utility. In that refped the reign of 
 Queen Anne was not a little deficient. The chief, nay almoft the 
 only exertions of the allies, feem to have been dedicated to arma- 
 ments at land; and any ideas of deftroying the commerce and 
 maritime ftrength of the enemy, were unfortunately unattended to, 
 or abandoned. 
 
 The naval charges at the fame time, during this reign, were not 
 inconfiderable. 
 
 Expence of the navy from Lady-day to 
 
 Michaelmas 1702 £ 1,275,912 
 
 1703 i>723v537 
 
 1704 1,630,402 
 
 Carried forward £ 4,629,851 
 
 * Commons Journals, vol. xviii. p. 84. In the fame journal there are particular ac- 
 counts of the different penfions and annuities that were granted during this reign. 
 
 K Commons Journals, p. 113. It is faid, in-a memorisAat the bottom of this account, 
 that 150,000/. was due to the French proteftants ; and 42,000/. was claimed for work 
 carried on at Blenheim ; but even with thefe additional demands, the receipts and iffues 
 were nearly equivalent to each other.
 
 OF THE BRITISH EMPIRE. 47 
 
 Brought forward £ 4,629,851 
 Expence of the navy from Lady-d..y to 
 
 Michaehiias 1705 1,758,615 
 
 1706 1,949,283 
 
 1707 2,296,667 
 
 1708 1,902,784 
 
 1709 2,112,929 
 
 1710 2,415,919 
 
 1711 2,200,000 
 , 1712 2,260,000 
 
 1713 1,192,826 
 
 1 714 l^S.^oo 
 
 Total £ 23,484,574 
 
 The peace eftabllfhment for the year 1714 came to 765,700/. At 
 that rate the naval eftimates, during Queen Anne's reign, would have 
 amounted to 9,571,250/. ; and confequently, the war coft, in addition 
 to the ordinary eftabllfhment, the fum of 13,913,323/. 
 
 The above lam was far from being contemptible. But nothing can 
 ever render a nation fuccefsful at fea, unlefs its maritime force is not 
 only a great, but the principal objedt of its attention. Naval ftrength 
 embraces lb many objeds, that it fuffers by the fmalleft negled. If 
 there is any failure in colledling the ftores neceffary for building fhips 
 of war; if the fhipwrights are not properly looked to; if the pro- 
 vifions neceffary for the fuftenance of the failors are not calculated for 
 that purpofe ; if every care is not taken to have the fleet manned by 
 bold and able feamen ; if its officers are not valiant and fkilful in their 
 profeflion, and promoted according as they deferve ; if difcipline is 
 not maintained ; and if the fleet is not directed to pra<Sticable objects ; 
 but inftead thereof, if its ftrength is wafted in confliciing with the 
 elements and not with the enemy, it is in vain that money is given. 
 Parliament may vote its millions, but to no purpofe : a fulure in pny 
 one of thefe articles is fufhcient to blaft every hope of vidlorj, and of 
 that fuccefs which might otherwife have been expeQed. 
 
 Many
 
 4S HISTORY OF THE PUBLIC REVENUE 
 
 The armjr. Many have afFeded to doubt the capacity of the natives of this 
 
 country for military atchievements. Their valour, it is true, is uni- 
 verfally acknowledged : but the fea, it is faid, is their natural element ; 
 their experience in military operations is too confined, and without 
 praiftice no confummate general can be formed. We muft not, we 
 are told, go fo far back as the reigns of the Henrys and the Ed- 
 wards, becaufe the art of war was then in its infancy, and their 
 vi£lories may be attributed to mere brutal force ; not to the fuperiority 
 of their military talents. Fortunately we can produce, in the perfon 
 of the Duke of Marlborough, an example of a Britifh fubjedt equal to 
 the greateft warriors of antiquity, or of modern times, in genius and 
 valour ; a hero, who never befieged a town that he did not gain, or 
 fought a battle in which he did not conquer. It was not, however, at 
 a moderate expence that his conquefts were acquired. 
 
 Expence of military fei-vices from Lady- day 
 
 to Michaelmas 
 
 1702 
 
 £ 7^9,780 
 
 1703 
 
 1,769,722 
 
 1704 
 
 2,106,1 12 
 
 1705 
 
 2,085,603 
 
 1706 
 
 2,682,809 
 
 1707 
 
 3,085,430 
 
 1708 
 
 3.055,340 
 
 1709 
 
 Z^75^.^2>^ 
 
 I7I0 
 
 4,309,016 
 
 1711 
 
 4,058,438 
 
 1712 
 
 3,180,242 
 
 ^7^2> 
 
 964,073 
 
 1714 
 
 1,210,530 
 
 
 £ 32,975»33i 
 
 The peace eftablifhment voted anno 1713 was only 8,232 men, 
 and two companies of invalids, amounting to 386,427/.; and the 
 forces in the plantations, exclufive of Gibraltar and Minorca, coft 
 only 39,478/. making in all but 425,905/. /^r ««««/«, which, in the 
 fpace of twelve years, is 5,140,860/. Deducing this fum from the 
 
 total
 
 OF THE BRITISH EMPIRE. 49 
 
 total of the military charges (thofe from Lady-day to Michaehnas 1702 
 only excepted) there would remain 27,104,691/. for the extra expences 
 of the war. 
 
 It was during this reign that the charges of the half-pay lift, both Half pay, 
 naval and military, and of Chelfea and Greenwich hofpitals, began to 
 be exorbitant. The original reafon affigned for granting half-pay to 
 the land officers, was becaufe a great arrear of pay was due to them, 
 which could not immediately be provided for. It was alfo contended, 
 that many officers had thrown themfelves entirely out of other bufmefs, 
 and had fpent a great part of the prime of their lives, in the fervice of 
 their country. But anno 1713, when 17,000/. was voted for half-pay zjthMay. 
 to naval officers, it was reftrided to thofe who had ferved we// during 
 the war, and fhould be out of employment both by fea and land, in 
 time of peace "■. 
 
 Perhaps there could not, in a political light, be a better regulation. 
 Every officer who claimed half-pay for his fervices in war, ought to 
 prove, in the words of the above-mentioned vote of the houle of 
 commons, t/jat he has ferved his country -we//. The very apprehenfion 
 and terror of fuch an enquiry might be productive of the beft of con- 
 fequences ; and the difgrace of not being thought entitled to the 
 bounty of the public, might occafion the greateft exertions. Some 
 difference ought alfo to be made between thofe who have ferved long, 
 and who have been but a fhort fpace of time in the army: for it is to 
 be confidered, that the half-pay of the army and navy amounts at 
 prefent to above 450,000/. per annum, which is confiderably more than 
 the whole peace eftablifhment of the army in the reign of William III. 
 Nor is it a circumftance unworthy of attention, that, anno lyij^ the 
 demand for half-pay to land officers, amounted to 120,000/. but upon 
 a thorough enquiry into the matter, it was reduced to 80,000/. 
 
 The whole expence of the ordnance came to 2,100,676/. The Ordnance, 
 peace eftablifhment may be ftated at ^8,000/. per annum, or in twelve 
 years 696,000/. confequently the extra expence of the ordnance 
 amounted to 1,404,676/. 
 
 '■ See Abflra£t of all the public Debts remaining due at Michaelmas 1722 ; by Archi- 
 bald Hutchinfon, Efq.'p. 25. Alfo Commons Journals, vol, xvii. p. 186 and 382. 
 
 Part III. H The
 
 50 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Tranfport 
 fervjce. 
 
 Sufferers of 
 Nevis and 
 St. Chriito- 
 phei'i. 
 
 Building 
 churches. 
 
 Equivalent 
 to Scotland. 
 
 Recoinage. 
 
 Colonial ex- 
 pences. 
 
 The expence of conveying the troops, which at this time made a 
 feparate article, amounted in all to 796,220/. 
 
 Among the expcnces incurred in confequence of Queen Anne's wars, 
 maybe included the fum of 141,093/. voted to the inhabitants of Nevis 
 and St. Chriftopher's, who had fuflfered by a French invalion. Such 
 however as did not refettle their plantations, were not entitled to any 
 fliare of the bounty, and the debt was not fully liquidated till the reign 
 of George I. 
 
 During this reign 480,000/. was granted for repairing Wefliminfter 
 abbey, and building new churches in the capital; and 2,500/. was voted 
 to be remitted to Rotterdam, for a fimilar purpofe. 
 
 The adjufting the treaty of union between England and Scotland 
 was attended with this peculiar difficulty, that the taxes of Scotland 
 were fmall, and its public debts were very inconfiderable. Whereas 
 England was fubjedl to heavy taxes, and its incumbrances were at that 
 time accounted enormous. To remove fo fatal an obftacle, it was 
 agreed upon between the commiffioners appointed by both nations, 
 that all diftintftions between their debts and taxes fliould be aboliflied, 
 and that Scotland fhould receive an equivalent, amounting to 
 398,085/. 10 J", for the burdens to which it was thus fubjeded. And 
 to indemnify the city of Carlifle, and the Mufgrave family, whofe tolls 
 ■were taken away by the fixth article of the treaty, the fum of 7,641/. 
 was granted by parliament. 
 
 The coinage expences during this reign were in fome degree in- 
 creafed, in confequence of that article of the union, by which it was 
 declared, that the fpecie of the two kingdoms fhould be the fame in 
 future. This branch of the public expenditure amounted in all to 
 81,934/. of which about 4,130/. was laid out in the mint of Scot- 
 land '. 
 
 No idea was then entertained of the heavy charges with which our 
 colonial fettlements would be attended. Indeed fo far as can now be 
 traced, 37,100/. is the whole that falls to be ftated under the head of 
 their civil eftablifhments. Nor were the expences they occafioned of a 
 military nature in any refpedt fo confiderable as they have fmce proved. 
 
 ' Commons Journal, vol. xvii. p. 8. 
 
 10 
 
 A fmgiilar
 
 OF THE BRITISH EMPIRE. 51 
 
 A fingular article appears In the accounts of this reign, of Treaty wUh 
 20,095/. IIJ-. ']d. paid to Francis Stratford, YS<\. for making ?ood 
 treaties with Sweden. The v.-ords may be interpreted in different 
 ways; but their meaning probably is, that the fum was paid for 
 the purpofe of fuUilling or making good the engagements we had come 
 into with that power, and not as a reward for having made a good or 
 beneficial treaty. 
 
 Some charges of a mircellaneous nature were alfo Incurred: 5,579/. Mifcella- 
 was paid to compenfate lofles fuflained by tumultuous and rebellious "^°"^ ^^' 
 proceedings ; 64,629/. was granted to commiflioners for examining the 
 public accounts, and for ftating the equivalent due to Scotland, ^f. The 
 whole might poflibly amount to about 200,000/. 
 
 It could furnifh no ufeful information at this time, to enter Into any Repayment 
 minute difcuflion of the various temporary loans which took place °^ '"^^ V^^ 
 
 ^ J 1 interelt or 
 
 during this reign, or any account of the intereft paid on the public thenadcnal 
 debts of a more permanent nature, which varied almofl: every year. 
 It may be fufficient to obferve, that this important article of expen- 
 diture amounted in all to 52,184,527/. of which about 31,661,176/. 
 was laid out in repaying money borrowed upon the land and malt 
 taxes, and other temporary fecurities ; and the remainder, to wir, 
 22,523,351/. was for intereft paid to the bank, and other permanent 
 creditors. 
 
 The total expences during this reign were then as follows : 
 
 debt. 
 
 The civil lift 
 
 - 
 
 £ 7,604,848 
 
 The navy 
 
 - - _ 
 
 23>484o74 
 
 The army 
 
 - 
 
 r~^97S.?>?>^ 
 
 The ordnance 
 
 - - - 
 
 2,100,676 
 
 Tranfport fervice 
 
 - - _ 
 
 796,220 
 
 Building churches, ^c. 
 
 - - _ 
 
 482,500 
 
 Equivalent to Scotland 
 
 - - - 
 
 398,085 
 
 Recompence for tolls 
 
 - 
 
 7,641 
 
 Coinage expences 
 
 - - _ 
 
 81.934 
 
 Expence of governments 
 
 in the Weft Indies 
 Carried over 
 
 37,100 
 
 
 ^67,968,909 
 
 
 H 2 

 
 52 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Brought over ^ 67,968,909 
 Money fent to Sweden - - - 20,095 
 
 Various mifcellaneous fervkes - - 200,000 
 
 68,189,004 
 Temporary loans repaid - - 31,661,176 
 
 Intereft of the permanent debts of the nation 22,523,351 
 
 The peace eftablifliment may be thus ftated 
 
 The civil lift 
 The navy 
 The army 
 The ordnance 
 Mifcellaneous fervlces 
 
 £ 122,373,531 
 
 £ 700,000 
 765,700 
 
 425,905 
 58,000 
 
 16,000 
 
 £, 1,965,605 
 
 TTie expences of the war, terminated aiint) 171 2, amounted to the 
 following fums : 
 
 - £, i3,9i3>323 
 27,104,691 
 
 Extra expences of the navy 
 Ditto of the army 
 
 Ditto of the ordnance 
 Ditto of the tranfport fervlce 
 Sufferers of Nevis and St. Chriftopher's 
 
 1,404,676 
 796,220 
 141,093 
 
 Total £ 43,360,003' 
 
 As the war lafted for ten years, this amounts to 4,336,000/. per 
 annum. 
 
 Great 
 
 * Two ftates of the expence of this war have been publiflied, both of which make it 
 more confiderable. The commiflioncrs of the public accounts appointed by the tory ad- 
 miniftration, who came into power about the clofe of Queen Anne's reign, calculate the 
 whole expence at 65,853,799/. and only deduiSt 12,930,461 /. for the peace eflablifhment j 
 andconfequentlyeflimate the expence at 52,923,388/. See Chandler's Debates (Commons), 
 
 vol.
 
 OF THE BRITISH EMPIRE. 53 
 
 Great as the fum may appear, it was not entirely wafted. It was 
 an expence hardly to be avoided : for, after Louis XIV. had thought 
 proper to interfere in the internal government of this countiy, by 
 acknowledging a prince for its fovereign, whom both the parliament 
 and people of Great Britain had renounced, it was impcfTible not to 
 declare war againft him. Befides, the nation received fome recom- 
 pence for the charges it was put to. It enjoyed the fatisfadlion of 
 repeated victories over the enemy; and it acquired by the peace the 
 honourable, though not very lucrative, acquifitions of Gibraltar and. 
 Minorca. 
 
 GEORGE I. 
 
 Since the reign of Queen Anne, the national accounts are far from 
 being diftlnguifhed for their regularity or precifion. No complete 
 ftatement has ever been made up, either of the total income and ex- 
 penditure of one reign, or even of any one year. Accounts arc 
 annually laid before parliament of the grants and fervlces : but they 
 include only what is called the unappropriated revenue. The ap- 
 propriated taxes are perpetually varying in their amount, and were, 
 until lately confolidated, a mafs of diforder and confufion ; and though 
 the furplufles and deficlences were ftated to parliament, yet it was 
 difficult to difcover, without a variety of calculations, what was the 
 total fum that was paid to or expended by the exchequer each year. 
 From fuch a chaos it is eafy to perceive, that exaftnefs cannot be ex- 
 ped:ed •, but, confidering the immenfe fums which have been expended 
 fmce the acceffion of the houfe of Brunfwick, it is not eafy to commit 
 a miftake that can be of eflential importance. 
 
 By an adl pafTed at the commencement of the reign of George I'. Civil lift. 
 700,000/. a year was appropriated to the expences of his majefty's 
 civil government; and 77,694/. of unappropriated money was directed 
 
 vol. V. p. 100. Even the whigs, in the view ihey printed anno 171 2 of the taxes, funds, 
 and public revenues of England, ftate the expence of the war at 48,513,773/. But then 
 they calculate the army at 350,000/. and the navy at 120,000/. per annum, which is by far 
 too low an eftablifhment. 
 ' I Geo. I. fefl". 2. chap. xii. 
 
 to
 
 54 HISTORY OF THE PUBLIC REVENUE 
 
 to be applied towards difcharging fuch extraordinary expcnces as 
 might be incurred at his accelTion to the throne. Nor was this all ; for 
 different funis were afterwards voted by parliament in aid of the civil 
 lift. The total of the money received on that account during this 
 reign will be as follows : 
 
 1. 'joo^oool. per annum ^ox twelve years and 
 
 a half - - - ' £ 8,750,000 
 
 2. Vote at the accefTion _ - « 77,694 
 
 3. By 7 Geo. I. chap. 27. In full of the fums 
 
 to be paid by the two affurance companies - 300,000 
 
 4. By 7 Geo. I. chap. 27. and 11 Geo. I. 
 chap. 17. money borrowed for the ufe of 
 the civil lift on the 6d. per pound de- 
 
 dudtion from penfions - - 1,000,000 
 
 5. Paid the Prince of Wales 40,000/. ^^r an- 
 num for twelve years and a half, and the 
 
 Queen the fum of 6,250/. out of the cuftoms 504,820 
 
 Total to the royal family £ 10,632,514 
 
 Confequently the charges of the civil lift, and the whole eftablifli- 
 ment of the royal family, came to about 850,000/. per annum. 
 
 The navy. The following fums were granted for naval fervices : 
 
 Anno 1714 
 
 £ 
 
 1,146,707 
 
 1715 
 
 
 990,472 
 
 1 7 1 6 
 
 
 947>559 
 
 1717 
 
 
 910,174 
 
 1718 
 
 
 1,003,132 
 
 1719 
 
 
 1,377,202 
 
 1720 
 
 
 789,249 
 
 1721 
 
 
 1,582,799 
 
 1722 
 
 
 736,388 
 
 1723 
 
 
 734,622 
 
 Carried forward 
 
 £ 10,218,304
 
 OF THE BRITISH EMPIRE. 
 
 Brought forward £ 10,218,304 
 Anno 1724 734,622 
 
 1725 732,181 
 
 1726 1,239,071 
 
 Total ^ 12,923,851 
 
 The ordinary of the navy was then about 740,000/. which, mul- 
 tiplied by twelve and a half, amounts to 9,250,000/. to which 
 370,000/. may be added for incidental charges, making in all 
 9,620,000/. and there would Hill remain 3,303,851/. for extra ex- 
 pences of the navy, in confequence of the hoftile operations which took 
 place during this reign. 
 
 The military expences may be thus ftated : The army. 
 
 55 
 
 Anno 17'* 
 
 £ 1,276,899 
 
 1715 
 
 1,394,044 
 
 1716 
 
 1,548,079 
 
 1717 
 
 1,050,089 
 
 1718 
 
 809,636 
 
 1719 
 
 947,172 
 
 1720 
 
 904,172 
 
 1721 
 
 883,564 
 
 1722 
 
 949,989 
 
 1723 
 
 923,137 
 
 1724 
 
 912,926 
 
 J725 
 
 901,032 
 
 1726 
 
 1,34^728 
 
 Total 
 
 £, 13,842,467 
 
 The peace eftablifhment of the army, including the forces In the 
 plantations, the half pay, Chelfea hofpital, and other fervices, might 
 be about 900,000/. /"tr annum, amounting, during the fpace of twelve 
 years and a half, to 11,250,000/. This fum being deduced from the 
 above total, leaves 2,592,467/. as the extraordinary expences of a 
 
 military
 
 5^ HISTORY OF THE PUBLIC REVENUE 
 
 military nature to which this country was put during the above 
 period. 
 
 Thcord- Tfj^e peace eftabUfliiment of the ordnance was about 73,000/. per 
 
 annum j which, muhiphed by twelve and a half, produces 91 2,500/. As 
 1,064,449/. "^^^ voted for ordnance fervices, the extra expences may be 
 ftated at 151,949/. 
 
 Mifceila- The mircellaneous expences were not very confiderable : 30,000/. 
 
 vices. ^^'^^ voted for the expence of the mint; 23,935/, as the damage in- 
 
 curred by burning two merchantmen from the Levant, in order to 
 prevent infedion ; 11,659/. ^o make up lofles fuftained by rebellious 
 and riotous proceedings in different parts of the country. Other par- 
 ticulars might be mentioned; but they cannot exceed in all 150,000/. 
 
 Intereft of The burdeu of the national debt was greatly leffened during this 
 
 ^, ' reign, by lowering the rate of the intereft paid to the public creditors. 
 
 But flill this article, including two millions difcharged, and the ufual 
 deliciences of the land-tax, amounted to about 41,218,879/. 
 The whole expences of this reign may be thus ftated : 
 
 The civil Uft - _ . ^ 10,632,514 
 
 The navy - ■ . . 12,923,851 
 
 The army _ _ _ . 13,842,467 
 
 The ordnance - - - - 1,064,449 
 
 Mifcellaneous fervices - - _ 150,000 
 
 38,613,281 
 Intereft of the public debts, loans repaid, and 
 
 land-tax deficiencies - - 41,218,879 
 
 Total £ 79,832,160 
 
 The peace eftablifliment was as follows : 
 
 The civil lift - - _ - ^ 850,000 
 
 The navy - _ _ _ 740,000 
 
 The army _ _ _ .. 900,000 
 
 The ordnance _ _ _ - 73,oop 
 
 Miicellaneous fervices _ _ _ 20,000 
 
 Total £ 2,583,000
 
 OF THE BRITISH EMPIRE. 57 
 
 The Inconfiderable warlike operations which took place during this 
 reign cofl the following fums : 
 
 Extra expences of the navy - - £ 3i3^3i^5^ 
 
 Ditto of the army . - - 2,592,467 
 
 Ditto of the ordnance - - 151,949 
 
 Total £ 6,048,267 
 
 GEORGE II. 
 
 The firfl: part of the government of this monarch was diftlngulfhed 
 by every appearance of tranquillity, though not unaccompanied with 
 a confiderable degree of rancour on the part of Spain, and of jealoufy 
 on the part of France. During that whole period the public expences 
 wxre not very confiderable, and the nation was in fo profperous a ftate, 
 that it was able, with any tolerable management, to have carried on a 
 fuccefsful war. But fo prevalent was the fpirit of fadion at the time, 
 that it was not conquefts abroad, but vidory in the cabinet and in the 
 fenate-houfe, to which our ftatefmen afpired. That fpirit prevailed not 
 only in the firft, but in the fecond war in which this monarch was 
 engaged : and both might have proved equally unfortunate, had not 
 the nation at laft united as if it were one man ; and at an expence till 
 then unheard of, and unparalleled, convinced the enemy what the re- 
 fources of Great Britain were capable of eftedting, when exerted to the 
 utmoft. 
 
 By an ad pafTed at the commencement of the reign, the duties civi! lifl. 
 known under the name of the civil lift revenues were continued 
 during the life of the new fovereign". It was at the fame time fpe- 
 cially provided, that if thofe revenues did not yield 800,000/. f>cr 
 anman^ the deficiency fhould be made up by the public ; but 
 that any furplus fhould belong to the crown. At firft they did not 
 yield the income that was expeded: for, anno 172S, 115,000/. was 
 granted on account of arrears in the civil lift revenues j and, amio 
 ly^Cy the fum of 456,773/. additional for the fame purpofe. An 
 
 " I Geo. II. chap. i. 
 
 Part III. I account
 
 ^S HISTORY OF THE PUBLIC REVENUE 
 
 account was laid before the houfe of commons of that branch of the 
 revenue, from Midfummer 1727 to ditto 1760, amounting to 
 26,784,715/". To this mufl be added 247,543/. granted by par- 
 liament, as portions with the princefles of the royal family : and 
 anno 1746 ",25, 000/. per annum was fettled on the Duke of Cumberland, 
 for his important fervices in quelling the rebellion. Upon accumulating 
 thefe different fums, they may be calculated in all at 27,382,258/. or 
 829,795 /. per annum. 
 The navy. The fums granted for naval fervices during this reign were as 
 
 follows : 
 
 Jnno 1727 £ 1,239,070 
 
 1728 1,495.561 
 
 Carried forward £ 2,734,631 
 
 " Commons Journals, vol. xxviii. p. 965, 9th D3cember 1760. It is not printed in 
 the Journals : but the following is an abftrad of the account ; 
 
 ABSTRACT of the CIVIL LIST Funds from Midfummer 1727 to Midfummer 1760, 
 
 Hereditary and temporary excife _ - ^ 
 
 ; 8,173,166 
 
 3 
 
 
 Subfidy of tonnage and poundage 
 
 9'599'267 
 
 19 
 
 10 
 
 By Ad 1 Geo. II. from aggregate fund 
 
 3,960,000 
 
 
 
 
 
 By 4 Geo. II. from ditto - - - 
 
 61,647 
 
 I 
 
 ol 
 
 By 9 Geo. II. from ditto _ . - 
 
 1,662,500 
 
 
 
 
 
 By 12 Geo. II. from ditto • . - 
 
 47'764 
 
 18 
 
 4 
 
 Revenue of poft-office - - - 
 
 1,191,613 
 
 17 
 
 91 
 
 Fines of alienation office - - > 
 
 102,480 
 
 13 
 
 ik 
 
 Poft fines _ . - . 
 
 75,108 
 
 
 
 
 
 Wine licences - ■ - . 
 
 216,870 
 
 17 
 
 Al 
 
 Sheriffs' proffers _ - _ - 
 
 20,663 
 
 9 
 
 10 
 
 Gompofitions in the exchequer _ - _ 
 
 218 
 
 8 
 
 6 
 
 Seizures of prohibited and unaccuftoraed goods 
 
 876,127 
 
 '3 
 
 If 
 
 Rents of lands _ > _ - 
 
 4+.136 
 
 19 
 
 ir 
 
 Fines of leafes -. - - 
 
 142,126 
 
 18 
 
 5 
 
 Sale of lands « . » - 
 
 9.293 
 
 16 
 
 8 
 
 26,182,981 17 6} 
 By A£l 2 Geo. IT. cap. 18. out of the fupplies for the year 
 
 1729 - - - - '' 115,000 o o 
 
 By Aft 20 Geo. II. cap. 36. out of the fupplies 1747 -■ 456,733 16 ^ 
 
 Total £ 26,784,715 13 \ol. 
 
 • 19 Geo. II, cap. 29,
 
 OF THE BRITISH EMPIRE. 
 
 Brought forward 
 
 £ 2,734,631 
 
 Anno 1729 
 
 957.025 
 
 1730 
 
 837,786 
 
 1731 
 
 742,034 
 
 1732 
 
 698,885 
 
 ^723 
 
 731,498 
 
 ^72>^ 
 
 2,452,670 
 
 ^735 
 
 1,768,914 
 
 1736 
 
 1,037,436 
 
 1737 
 
 799,201 
 
 ^73^ 
 
 1,077,885 
 
 1739 
 
 856,689 
 
 1740 
 
 2,i57»6S7 
 
 1 741 
 
 2,718,784 
 
 1742 
 
 2,765,573 
 
 J 743 
 
 2,653,758 
 
 1744 
 
 2,521,085 
 
 1745 
 
 2,567,083 
 
 1746 
 
 2,661,534 
 
 1747 
 
 3,780,909 
 
 1748 
 
 3,640,350 
 
 1749 
 
 2,179,878 
 
 ^75^ 
 
 1,201,521 
 
 1751 
 
 1,076,559 
 
 1752 
 
 1,794,560 
 
 1753 
 
 810,206 
 
 1754 
 
 910,390 
 
 ^755 
 
 1,714,288 
 
 1756 
 
 3,349,021 
 
 1757 
 
 3,503,939 
 
 1758 
 
 3,874,421 
 
 1759 
 
 5,236,263 
 
 1760 
 
 5,611,708 
 
 Total 
 
 £ 71,424,171 
 
 I 3
 
 <o 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 The army. 
 
 Such were the immenfe grants for naval fervices. But great as they 
 may feera, they were not enth-ely thrown away. In both the wars 
 which took place during the reign of this monarch, our naval exertions 
 were attended with fuccefs. Twice was the maritime power of the 
 houfe of Bourbon almofl totally annihilated ; — a circumftance which 
 this country can hardly too dearly purchafe, and to fecure which no 
 expence ought to be regretted. 
 
 I'he army during this reign cofl the following fums : 
 
 Juno lyij 
 
 £ 1,641,730 
 
 1728 
 
 1,430^^83 
 
 1729 
 
 1,352,138 
 
 1730 
 
 1,195,712 
 
 ^i:,"^ 
 
 1,214,809 
 
 1732 
 
 934,381 
 
 ^7Zi 
 
 907,592 
 
 1734 
 
 1,052,061 
 
 1735 
 
 1,159,621 
 
 1736 
 
 1,004,020 
 
 1737 
 
 1,039,198 
 
 ^738 
 
 961,786 
 
 1739 
 
 1,081,494. 
 
 1740 
 
 1,268,428 
 
 1741 
 
 2,003,194 
 
 1742 
 
 2,309,143 
 
 1743 
 
 2,840,229 
 
 1744 
 
 2y3^^5^'^oi 
 
 1745 
 
 3,322,101 
 
 1746 
 
 3,824,643 
 
 1747 
 
 3,691,43 » 
 
 1748 
 
 4,261,575 
 
 1749 
 
 1,730,477 
 
 ^7S^ 
 
 1,238,704 
 
 ^75^ 
 
 1,077,345 
 
 1752 
 
 1,041,554 
 
 Carried forward 
 
 ;^ 46,948,650
 
 OF THE BRITISH EMPIRE. 6i 
 
 Brought forward jC 46,948,650 
 
 Jfino 1753 
 
 
 1,067,021 
 
 1754 
 
 
 1,068,185 
 
 1755 
 
 
 2,239,548 
 
 ^75^ 
 
 
 2,728,558 
 
 1757 
 
 
 3^336,118 
 
 1758 
 
 
 4,152,737 
 
 1759 
 
 
 4,634,944 
 
 1760 
 
 £ 
 
 7.735,760 
 
 Total 
 
 73.911,521 
 
 tary ex- 
 pences. 
 
 The ordnance expences, in fo far as refpeded the land fervice, and The ord- 
 the purchafing of ground for the purpofes of fortification, amounted to "^""• 
 6,706,674 /. . 
 
 Other expences were alfo incurred in confequence of the war. Other mUi- 
 5,000/. included in the grants for 1739, was paid to Solomon IMorrett 
 and others for the lofs of the fhip Ifabella, taken by the Spaniards ; 
 10,000/. was voted to the town of Glafgow, which had been extorted 
 from that city in the rebellion ; 13,869 /• was granted to the owners of 
 the money and effeds taken in the Spanifh fhip Anna Maria St. Felix, 
 by grant a/ino 1756 ; making in all 28,869/. 
 
 The money paid during this reign, for building churches, for repair- Churches, 
 ing Weftminfter Abbey, and the churches of St. Margaret's and St. 
 John's Weftminfter, came to 152,240/. 
 
 For building Weftminfter Bridge, and opening a way from thence to Bridges. 
 Charing Crofs, there was voted in all 216,500/. Nay, the fum of 
 45,000 /. was granted for rebuilding London Bridge, though, confider- 
 ing the greatnefs of the thoroughfare, and the immenfe income enjoyed 
 by the corporation of London, that work might have been executed _ 
 without any public afliftance. 
 
 During this reign, a military road was formed acrofs the ifland, Mil'Miy 
 from Newcaftle upon Tyne to Garlifle ; for which purpofe 24,000/. io=ds. 
 was granted. As to the roads in the Highlands of Scotland, they were 
 for many years included among the extraordinary expences of the army, 
 and were not feparately voted. 
 
 For
 
 62 
 
 HISTORY OF THE PUBLIC Rfi-^ENUE 
 
 Harbours. 
 
 Public re- 
 wards. 
 
 Public mo- 
 nument. 
 
 Heritable 
 rirdiftions 
 Scotland. 
 
 For finlflnng the harbour of Rye, there was granted 23,360/. j and 
 the fum of 20,000/. for Milford harbour in Wales. 
 
 Sir Thomas Lombe had, at a great hazard and expence, introduced 
 into this country the art of making fine organzine Italian filk, or thrown 
 filk, out of raw filfc, by an engine, which is ereded in the town of 
 Derby, and a model of which is preferved with great care and attention 
 in the tower of London. As a reward for fo important a difcovery, 
 the fum of 14,000/. was given him by parliament. ^n;io 1738, 5,000/. 
 was alfo voted as a reward to Mrs. Stephens, for communicating to the 
 public her remedy for the ftone ; and anfio 1755, 3,000/. to Thomas 
 Stephens, for difcovering the proper mode of making pot-afh. 
 
 ^/ifio 1756, 3,000 /. was granted for the purpofe of ered:ing a mo- 
 nument to the memory of Captain Coi-nwall, who had died fighting 
 gallantly in the fervice of his country. The public money could not be 
 better expended. It was by fuch encouragements that the free ftates of 
 antiquity rofe to eminence and to glory. It is by fuch inducements 
 that individuals are beft animated to great and magnanimous exertions. 
 To rccompenfe military atchievements by pecuniary rewards alone, or to 
 make money the great obje£l of gallant men, is in the higheft degree 
 impolitic ; for none are to be accounted truly brave, or in great emer- 
 gencies are to be depended upon, but fuch as are infpired by honour 
 and not by interefl, and who prefer fame to fortune. 
 
 At the union, the feudal fyftem exifted in full force in the remoter 
 parts of Scotland. In thofe wild and mountainous dillrids, the chief- 
 tains of the different clans enjoyed almoft full power over the perfons 
 and property of their vaflals. But fo tyrannical a fyftem could not 
 .continue for ever. It was at length difcovered, that whilft it remained, 
 no improvements could be expeded in that part of the country. To 
 break the power of ^thefe barons, parliament refolved to purchafe the 
 rights and privileges which they claimed j and 152,037/. was granted 
 for that purpofe. In a pecuniary view alone, perhaps the compen- 
 fation was adequate. But it is difficult to eftimate the ideal value that 
 might be attached to fuch important prerogatives by perfons accuftomed 
 to exercife them. 
 
 The
 
 OF THE BRITISH EMPIRE. 63 
 
 The rebellion that broke out in Scotland a?tf!o 1745, was principally Scotch for- 
 fupported by perfons of defperate fortunes, who expected to retrieve their 
 affairs in the midft of buftle and confufion. The eftates of fuch as pof- 
 fefled landed property were forfeited to the crown ; and parliament 
 wifely determined to appropriate the income they produced to the pur- 
 pofe of improving the Highlands and Iflands of North Britain. But 
 fuch at the fame time were the incumbrances due by their former pof- 
 feflbrs, that though they hardly yielded a clear rent of 8,000 /. per 
 a?!u»m, government paid, anno 1759 and 1760, 72,410/. and in the 
 fucceeding reign 110,553/. I'l^ore, in order to difcharge the debts by 
 which they were afFe£led» 
 
 The extra expences of coinage during this reign,- in addition to the The mint, 
 ordinary charges of 7,000/. J)er annum^ amounted to 31,364/. 
 
 Among the many advantages which this country enjoys from its Homed 
 Infular fituation, there is none more truly important than the facility *^^f'-^" 
 with which infedious diftempsrs, whether afleding the human fpecies 
 or their cattle, can be prevented. In Holland, above 500,000 cows, - 
 worth at leaft 10/. each, have perifhed within thefe 20 years part; and 
 hence, in that fpace of time, the States have loft above five millions by 
 difeafes among their cattle ". The avarice of fome Englifli tanners, 
 who brought over infe£led hides, introduced the difeafe into this 
 country; and at different times, 208,123/. was granted by parliament 
 to prevent fo fatal a diftemper from being extended. 
 
 During this reign, there was granted to the Foundling-hofpital the Foundling 
 
 r c o 1 hoipital. 
 
 fum of 128,277/. 
 
 Some nations of antiquity are juftly celebrated for fending prefents to Lilbon eanh- 
 the illand of Rhodes, v/hen, by an earthquake, its renowned coloffus 'I"*'*' 
 was thrown down, and other damage was fuftaiued. Great Britain 
 difplayed equal if not fuperior generofity on a fimilar occafion ; for no 
 fooner was intelligence received of the fatal earthquake at Lilbon (which 
 in 175(5 almoft buried that proud metropolis in the earth), than the 
 Britilli parliament unanimoufly voted ioo,oco/. to relieve the unhappy 
 fufferers ; — perhaps the only inftance in modern times of fuch extenfivc 
 liberality from one ftate to another. 
 
 »• This is a very moderate eftimate. I have heard the lofs calculated at forty millions 
 Sterling. 
 
 II As
 
 ^4 HISTORY OF THE PUBLIC REVENUE 
 
 Afnan forts. As the expence of maintaining the Britifh forts on the coaft of Africa, 
 and in full fatisfadtion to the Royal African Company for their charter, 
 lands, &c. 420,173/. was voted during this reign. 
 Amerionn The chargcs which this country has been put to on account of Its 
 
 cxpcnces. fettlements in America, are hardly to be credited. As far back as the 
 reign of fames L of England, the fum of 29,000/. was raifed by lotteries, 
 for the purpofe of eftablifhing the colony of Virginia ' ; — a confiderable 
 fum in thofe days, and which, if accumulated at compound intereft fince 
 the year 1620, would have paid no fmall fhare of the national debt. But, 
 •without going to fuch remote pei-iods, it may juR'y be afferted that the 
 two laft wars, and all the enormous expences with which they were ac- 
 companied, may be traced to the fame fource. Even the war of 1 739 partly 
 originated from the clamours of the North Americans, and their refent- 
 jnent againft Spain, for attempting to prohibit the intercourfe they held 
 with the colonies of that country. The war of 1755, it can hardly be 
 denied, was owing to -the anxiety of the inhabitants of Great Britain to 
 prote(5l their brethren in Amicrica from the intrigues of the French, and 
 the attacks of Indian favages. The war that has been juft concluded 
 was purely American, and would never have been carried on and fo 
 anxioufly perfevered in, had it not been imagined that a great majority 
 of the people of that country were defirous of preferving a connedion 
 with the parent flate, and juftly trembled at the fatal confequences of 
 which a feparation would be produftive. Nor was any expence ever 
 jTpared, that could contribute to the good government, that could pro- 
 mote the induflry, that could infure the fafety, that could mitigate the 
 misfortunes, or that could animate the exertions of the people of that 
 country even for their own fecurity and protedion. 
 
 ^/iiio 1729, tlie fum of 22,500 /. was voted by Parliament to the 
 proprietors of Carolina, that the inhabitants of that province, inftead 
 of being oppreflcd under an ariftocratical government, might enjoy all 
 the blefhngs of liberty and of legal independence. And, afino 1741, 
 when a fire happened at Charleftown, 20,000/. was granted to be dif- 
 tributed among the unhappy fufferers. 
 
 The expences of Georgia during this reign amounted to 117,110/. j 
 and thofe of Nova Scotia to 637,972 /. 
 
 ■? See Chalmer's Political Annals of the Britii'h Colonies, vol. i. p, 32. and 41, 
 
 By
 
 OF THE BRITISH EMPIRE. 65 
 
 By votes to the different provinces in America, to indemnify them 
 for the expences they were put to in the expedition againft Cape Breton, 
 and to encourage them in the following war to exert themfelves with 
 vigour in defence of his Majefty's rights, and for their own fecurity, 
 there were granted, during this reign, the fum of 899,842 /. ' 
 
 Thefe fums joined together amount to 1,697,424/. * 
 
 The following are the only other mifcellaneous expences : 
 1 730. For the purchafe of the wardenfhip of the Fleet 
 
 prifon - - - - £ 2,500 
 
 1 741. To the fufferers by the failure of Mr. Henry 
 
 Popple - - - - 8,716 
 
 1754. For the office of marfhal of the Marfhalfea 
 
 prifon - _ _ _ 5,200 
 
 For rebuilding the Marfhalfea prifon - 7,800 
 
 1759. To Dr. Long for difcharging a mortgage on an 
 
 eftate devifed for the endowment of a pro- 
 
 fefTorfhip at Cambridge - - 1,280 
 
 ' ;C 25,49^ 
 
 The mode of making good to his majefly money voted purfuant to Money pnid 
 addrefTes from the commons, was firfl introduced in the year 1758. aJdreffts.'° 
 In this manner, 31,000/. was granted during this reign. It was prin- 
 cipally intended for the expence of printing the journals of the houfe; — 
 a meafure of great public utility, and which has been the means of 
 making known much material information. But this is a mode of voting 
 money which ought to be difcountenanced as much as poffible, if ever 
 it is intended that a real fpirit of economy fhould pervade our financial 
 fyftem. 
 
 It feems unnecefTary to enter minutely into the various fums paid Intereftcf 
 during this reign to the different public creditors, either in payment of ^"(.^ "^ ^ "* 
 the principal or intereft of their debts. It may be fufficient to (late that 
 they amounted in all to about 93,347,134/. 
 
 ' In this fum is included a part of the expence of the garrifon of Cape Breton annt 174.9. 
 
 Part III. K The
 
 66 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 The total expenditure during this reign "will then 
 
 The civil lift - - - . 
 
 The navy - - • - 
 
 The army - - 
 
 The ordnance - . • . 
 
 Other military expences - - 
 
 Ecclefiaftical expences - - - 
 
 Weftminfter Bridge - , - 
 
 London Bridge - - « 
 
 Military roads . - « - 
 
 Making harbours - - - 
 
 Public rewards - - - 
 
 Public monument to Captain Cornwall 
 
 Heritable jurifdi«flions in Scotland 
 
 The debts due on the Scotch forfeited eftates 
 
 Charges of the mint at 7,000/. per annum for 33 
 
 Extra expences of the mint 
 
 Horned cattle - - . • 
 
 Foundling hofpital - . _ 
 
 Earthquake at Lifbon « - - 
 
 African forts and fettlements 
 
 American expences - - 
 
 Mifcellaneous expences 
 
 Money paid purfuant to addrefles 
 
 ;^ 183,002,639 
 Intereft of the public debts, and repayment of the 
 
 principal - _ , - 92,^l\']^Z^ 
 
 Total Z' 276,349,773 
 
 The peace eftablifhment towards the conclufion of this reign may be 
 thus ftated : 
 
 be as follows : 
 
 X;* 27,280,000 
 
 71,424,171 
 
 73>9i 1,521 
 
 6,706,674 
 
 28,869 
 
 152,240 
 
 216,500 
 
 45,000 
 
 24,000 
 
 43>36o 
 
 22,000 
 
 3,000 
 
 152,037 
 
 72,410 
 
 years 231,000 
 
 31,364 
 
 208,123 
 
 182,^77 
 
 100,000 
 
 420,173 
 
 1,697,424 
 
 25,496 
 
 25,000 
 
 The civil lift 
 The navy 
 
 Per annam. 
 
 ;^ 836,000 
 900,000 
 
 Carried forward £ 1,736,000
 
 OF THE BRITISH EMPIRE. 67 
 
 Brought forward ;^ 1,736,000 
 
 The army .• _ - - 900,000 
 
 The ordnance - - - - 80,000 
 
 Mifcellaneous expences . - - 50,000 
 
 Total £ 2,766,000 
 
 This reign is diflinguifhed by two wars. The firft began an?io 1739, 
 and was concluded by the peace of Aix la Chapelle anno 1748; the fecond 
 began anno iJSSt ^"^^ '^^^ concluded by the treaty of Paris in Febi'uary 
 1 763. The expences of each war, it may be proper to ftate feparately. 
 
 Some account has already been given of the firft war entered into Expences of 
 during the reign of George II. It unqueftionably arofe from the tur- '•»« war 1739. 
 bulent fpirit of the Englifh, who, tired of a long peace, engaged in 
 hoftilities with Spain for very frivolous reafons. The trifling fum of 
 one or two hundred thoufand pounds was the original fubjedt of conteft. 
 But the oppofition to the government at the time well knew that the ^ 
 
 power and adminiftration of Sir Robert Walpole could only be fhakea 
 by fuch an event : And fuch was the clamour raifed by our merchants 
 at home, and by our colonies in the Weft Indies and America, againft 
 the treatment our fliips had received from the Spaniards, that, however 
 cautioufly a nation ought to enter into war, little deliberation was made 
 life of in commencing it upon that occafion. The difpute afterwards 
 became of a nature more general and extenfive. 
 
 In a former chapter, it was ftated, that the addition which this war 
 made to the national debt amounted to 31,338,689/. But this was far 
 from being the total expence. The following fums may alfo be placed 
 to the fame account : 
 
 I. Eight years land-tax at ^s. in the pound £ 16,000,000 
 
 1. Ditto malt - _ _ 6,000,000 
 
 3. Taken out of the finking fund - - 7,800,000 
 
 ;i{^ 29,800,000 
 Deduct eight years expence in time of peace 14,720,000 
 
 Carried over £ 15,080,000 
 K 2
 
 68 HISTORY OF THE PUBLIC REVENUE 
 
 Brought over £ 15,080,000 
 Add the debt contraded - - 31,338,689 
 
 Total expence of the war /" 46,418,689* 
 
 The war with Spain alone lafted about four years ; and the extraor- 
 dinary expences which it occafioned may be eftlmated at 3,000,000/. 
 a-year. The remaining four years of more general hoftilities cofl about 
 8,500,000 /. per annum. 
 
 It is natural for the reader to demand, what advantage did the country 
 reap for fo enormous an expence ? and were the terms either lucrative 
 or honourable on which the peace was concluded ? The hiftory of that 
 war, and the manner in which it was terminated, are too well known 
 to require any particular detail in this place. We had the honour, it is 
 true, of fupporting the houfe of Auftria when on the very brink of de- 
 ftruftion ; and it is to be hoped that fome time or other we fhall receive 
 * grateful returns for fuch generous afTiftance. We were fortunate enough 
 
 to capture or to deftroy no inconfiderable part of the fleet of the houfe 
 of Bourbon, which ought ever to be confidered as an important objedl 
 in the eyes of Britain. But as to any acquifitions calculated to indem- 
 nify us for the expences we were put to, they are to be fought for in 
 vain ; and at the very inftant when our enemies were reduced to the 
 utmoft neceflity by famine, a peace was concluded on fuch difadvan- 
 tageous terms, that the minifters had not confidence fufEcient to move 
 for a vote of approbation in parliament. 
 Expence of The war concluded by the treaty of Paris has this circumftance in its 
 
 thewari755. f^^.Q^^, that during the greater part of it, the nation was triumphant j 
 and though the peace by which it was terminated was pd^rhaps hardly 
 adequate to the expedtations of the public, yet it was the moft lu- 
 crative treaty, in point of territorial acquifition, that is recorded in the 
 annals of this country. With regard to the charges of the war, they 
 have been thus eftimated : The fupplies for the year 1753 (which was 
 the laft peace eftablifliment) amounted to 2,797,916/. Every addition 
 to that fum, until the burden of the w^ar was entirely fettled, may be 
 ftated to its account. The fums voted were as follows : 
 
 ' See the Prefent State of the Nation, printed anna 1748.
 
 OF THE BRITISH EiMPIRE. 69 
 
 Voted anno 1754 
 
 ^4,073,779 
 
 1755 
 
 7,229,117 
 
 ^75^ 
 
 ^^is^^i^s 
 
 ^757 
 
 10,486,457 
 
 1758 
 
 12,7.1.9,860 
 
 1759 
 
 12,503,564 
 
 1760 
 
 19,616,1 19 
 
 1761 
 
 18,299,153 
 
 1762 
 
 1 3^5^2,040 
 
 1763 
 
 7,712,562 
 
 1764 
 
 7,763,090 
 
 1765 
 
 8,273,280 
 
 1766 
 
 8,527728 
 
 1767 
 
 8,335,746 
 
 
 ^150,442,820 
 
 Hence the total expence may be thus calculated : 
 
 Sums voted - ^ ~ " £. 150,442,820 
 
 Peace eftabliCiraent for 14 years at 2,797,976/. 39,170,824 
 
 Total charges of the war £ 1 1 1,271,996 
 
 As it only lafted for feven years, the expence per ammm amounted 
 to 15,895,999// 
 
 Great as our fuccefs was, it was dearly purchafed at fuch a rate. 
 
 ' The extraordinary expence in France on account of this war has been ftated as follows : 
 
 1756 
 
 ;C 5.377.778 
 
 1757 
 
 6,044,444 
 
 1758 
 
 6,coo,ooo- 
 
 1759 
 
 8,652,924 
 
 1760 
 
 11,186,431 
 
 J76I 
 
 5,364,034 
 
 1762 
 
 7,076,924 
 
 Total 
 
 ;{^49'702j53S 
 
 Nor
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Nor are dlftant and foreign acquifitions always of fuch utility as may 
 at firft be imagined. The war now alluded to was principally diftin- 
 guiflied by the acquifition of fome Weft Indian iflands, and by the re- 
 lignation of the whole province of Canada by the French. But neither 
 proved ferviceable to Great Britain. It is a fadl which, however in- 
 credible it may appear, is beyond all doubt, that in order to procure 
 a right to the foil of the iflands thus ceded to us by the French, namely, 
 Grenada, Tobago, and St. Vincent's, no lefs a fum than three millions 
 was paid by Britifh fubjeds to French proprietors, with which the re- 
 maining pofTeffions of the French in that hemifphere were improved, 
 and brought to that beneficial ftate of cultivation and produce which they 
 boafl; at prefent. The finking of fo enormous a fum was attended with 
 very pernicious confequences, in regard to our original pofl'eflions in the 
 Weft Indies, to our public and private credit, and to our circulation at 
 home ". As to the acquifition of Canada, it was prophefied at the 
 time, that it would neceffarily occafion, what we have lived to fee, the 
 independence of our colonies. When the retention of Canada was firft 
 propofed, that able ftatefman the Duke de Choifeul declared, that he 
 could not obje£t to a plan which would neceffarily prove fo ruinous to 
 the enemies of France : for he wifely forcfaw that our American colo- 
 nies, when once relieved from the terror of fuch a neighbour, when 
 once freed from all apprehenfion of being made fubjed to the houfe of 
 Bourbon, would foon begin to confider Great Britain as the only 
 power of whom they ought to be jealous. 
 
 Aleditating on thefe events, who can avoid breaking out into juft 
 exclamations againft the madnefs of war ? The taxes which necefl^arily 
 arife from extended and frequent hoftilities, every warlike nation muft 
 lay its account with : it muft alfo put up with all thofe dreadful fcenes 
 of mifery and bloodftied, which are their fure concomitants. But a wife 
 nation will alfo take into its confideration the uncertainty of any recom- 
 pence being procured for the expences that it muft fuftain ; and that 
 acquifitions which are at firft accounted of the moft efl'ential importance, 
 may in the end prove fatally deftrudive. 
 
 " It materially contributed to the failures anno 1772.
 
 OF THE BRITISH EMPIRE. 71 
 
 GEORGE III. 
 
 It Is hardly pofTible to write the hiftory of cur own times with fuffi- 
 cient impartiality. Notwithftanding every poffible inclination to give a' 
 fair reprefentation of the circumftances which have occurred, fome lurk- 
 ing prejudices, either adverfe or favourable to fome particular parties in 
 the fcene, will in all probability appear, however cautioufly guarded 
 againft. The only mode, therefore, which a contemporary author can 
 adopt, is, fhortly to flate real fads, leaving future authors to draw the 
 conclufions which may refult from them. In the page of fome future 
 hiftorian, the hiftory of the prefent reign will form the fubjedt of a cu- 
 rious and important narration ; and it will then probably be ftated, that 
 a great and powerful empire, in confequence of internal divifions, was 
 on the brink of falling from the higheft elevation of ftrength and power, 
 into an abyfs of mifery and weaknefs ; and then perhaps it will become 
 a curious fubjedt of political fpeculation, whether that corruption which 
 is inherent in a defpotic goTernment, or that fadlious fpirit which fo 
 often prevails in a free ftate, is the moft unfortunate circumftance to a 
 country. 
 
 The firftadt that was pafTed after the king's accefHon to the cxown, civil lift 
 granted to his majefty the fum of 800,000/. per anniim^ fubje<fl to the 
 feveral annuities of 50,000 /. a-year to the Princefs Dowager of Wales, 
 15,000/. to the Duke of Cumberland, and 12,000/. to the Princefs 
 Amelia. This, in the fpace of twenty-eight years, amounts to 
 22,400,000/. but is far from being the total fum laid out during this 
 period in the expences of the civil government; for on 28th February 
 1769, 513,511/. was granted to difcharge certain arrears of the civil 
 lift, contraded prior to the 5th January 1769, And on the i6th 
 April 1777, the fum of 620,000 /. was again voted for a fmiilar pur- 
 pofe, together with an additional 1 00 ^ooq L. per annmn., to the income 
 of the crown. 120,000/. was alfo given as the marriage portions of 
 the Princefles Augufta and Matilda. The annuity of 25,000/. to the 
 late William Duke of Cumberland was continued during his life ; and 
 
 annuities
 
 HISTORY OF THE PUBLIC REVENUE 
 
 annuities out of tlic aggregate fund, at 8,000/. each, were granted to 
 their Royal HighnefTes the Dukes of York, Gloucefter, and Cumber- 
 land, commencing 5th January 1767 ". The following is a pretty ac- 
 curate ftate of the fums paid to the prefent royal family by the public 
 during the prefent reign : 
 
 The original civil lift revenue of 800,000 /. per anmnn from the 
 
 acceflion to Michaelmas 1788 - ,^22,400,000 
 
 The additional 100,000/. from 5th January 1777 
 
 (12 years) _ _ _ _ 1,200,000 
 
 Civil lift debts paid ^;/«o 1769 - - 513,511 
 
 1777 - - 620,000 
 
 1784 - - 60,000 
 
 17S6 - - 30,000 
 
 Exchequer bills due on civil lift, paid oS atmo 1786 180,000 
 
 Marriage portions - - - - 120,000 
 
 Additional income to William Duke of Cumberland 
 
 for five years « _ - _ 1 25,000 
 To the Dukes of York, Gloucefter, and Cumberland, 
 
 being the amount of the annuities paid to them 
 
 out of the aggregate fund - - 360,000 
 For enabling his Majefty to make a feparate eftablifti- 
 
 ment for his Royal Highnefs the Prince of Wales 60,000 
 For difcharging the debts of the Prince of Wales, 
 
 and for the works at Carlton Houfe - 181,000 
 
 £ 25»849.5 1 1 
 
 This during the fpace of 28 years amounts to C)2;i,^i<^6l. per annum. 
 But great as this fum may appear, it would not have proved fuffi- 
 cient, had not other additions been made to it % and had not fome at- 
 tempts 
 
 * 7 Geo. III. cap. 19. 
 
 f Tn Almon's Parliamentary Regifter, antia lyj^, vol. vii. p. 57, there is an exag- 
 gerated account of the total of the royal income. It is there aflerted, that exclufive of the 
 
 additional
 
 OF THE BRITISH EMPIRE. 7^ 
 
 tempts beea made to eftablifh a fyftem of economy, in this branch of 
 the public expenditure. Indeed fuch is the profufion inherent in the 
 very nature of courts, that nothing but fixed and unalterable rules, to 
 be ftedfaftly and inviolably adhered to, and on no account to be departed 
 from, can poffibly prevent the income of the crown from being perpe- 
 tually deficient. 
 
 Here it may be proper to give fome account of the various regulations 
 which have lately been eftabliflied in this important department. 
 
 The firfl application to parliament, anno 1769, for public affiftanceto 
 difcharge the debts of the civil lift, met with fome oppofition, but wac 
 carried on a divifion by a confiderable majority ^. 
 
 But the next application a7ino 1777, not only for a confiderable fum 
 of money to pay arrears, but alfo for an additional income of 100,000/. 
 occafioned violent debates. The crown was as ufuai fuccefsful in par- 
 additional votes above mentioned, it could not be lefs, ammunihm annis, than 1,400,000/. 
 a-jear. The fum is thus made out: 
 
 Civil lift ... _ _ . £ 800,000 
 
 Revenue of Hanover after paying all charges » _ 100,000 
 
 Ireland .... 97,000 
 
 Wales . - . . 10,000 
 
 Lancafter - - . - 2C,ooo 
 
 Cornwall - - - . 70,000 
 
 4I per cent, duty in the Weft Indies - _ _ 50,000 
 
 Coal-pits of Louiftiurg - - - _ 12,000 
 
 Intereft of the debts due to the late king - - 150,000 
 
 Total ;^ 1,320,000 
 
 Theremainderismadeupfrom— the quit-rents in North America,whichit is faid amounted 
 before the war to 1 ^,000 i. per t^nnum; — the ^j per cent, duty in North America, which 
 produced about 50,000 / peramium; — the money procured from the fale of Somerfet Houfe 
 which is flated at 100,000/.; — and prefents from eaftern princes, which are calculated at a 
 million. But every one muft perceive that thefe fums are not a little exaggerated ; and with 
 
 fome of them, the furplus revenueof Hanover in particular, this country has no connexion. 
 
 In the accounts produced to parliament (Ditto, p. 59.), it is acknowledged that there 
 was received, between 5th January 1769 and 5th January 1777, from the dutcby of 
 Cornwall, &c. the fum of 205,422 /. 18 i. 6| d. making in all about 25,677 /. per annum. 
 
 ■'■ 248 voted in favour of the motion j 135 againft itj majority 113. 
 
 Part III. L liament j
 
 ffH. HISTORY OF THE PUBLIC REVENUE 
 
 liamcnt ; but the attempt was univerfally odious to the people, and ex- 
 cited a clamour which rendered the government at the time not a little 
 unpopular. In a fucceeding feflion, the table of thehoufe of commons 
 was covered with Petitions, praying for a reform in this branch of the 
 national expenditure. On the nth February 1780, Mr. Edmund Burke, 
 in one of the mod fplendid orations ever delivered in a public aflembly, 
 introduced his bill for the better regulation of his majefty's civil efta- 
 blifliments ; and on the 6th of April following, on the motion of Mr. 
 Dunning, the houfe came to the following important refolutions : 
 
 1. That it is neceflary to declare that the influence of the crown has 
 xncreafed, is increafmg, and ought to be diminiflied." 
 
 2. That it is competent for parliament to examine into and to correct 
 abufes in the expenditure of the civil lift revenues, as well as in every 
 other branch of the public revenue, whenever it fhall appear expedient 
 to the wifdom of parliament fo to do '. 
 
 It was not however until the year 1782, that any effedual flep was 
 taken to reform thefe expences. By Mr. Burke's original fyflem, the 
 annual favings were calculated at 75,343 /. without including the board 
 of police in Scotland ; and it was ftated, that it would detach from the 
 influence of the crown nine members in the houfe of lords, and thirty 
 in the houfe of commons. By the plan of 1782, the following favings 
 were propofed : -^^ 
 
 Annual Savings. 
 
 By abollfliing the officeof third fecretary of ftate £ 7>5oo 
 
 Board of trade _ _ - _ 12,600 
 
 Lords of police in Scotland . - - 6,600 
 
 Board of works _ _ _ _ 7,462 
 
 Great wardrobe _ » _ - 3^5^^ 
 
 Jewel office - - - - _ 2,000 
 
 Treafurer of the chamber _ _ - 3,000 
 
 Cofferer of the houfehold - _ - 3,000 
 
 Board of green cloth _ - . 8,000 
 
 Mafters of the harriers and of the ftag-hounds - 3,000 
 
 Carried forward jC 565668 
 
 » Commons Journals, vol. xxxvii. p. 763.
 
 OF THE BRITISH EMPIRE. 75 
 
 Brought forward £ 56,668 
 The eftablifhment of the mint - - 13,000 
 
 Paymafter of penfions - - « 2,700 
 
 nm 1 11 !■■ ■■ 
 
 Total ;^ 72,368" 
 
 But fchemes, however plaufible In theory, are difficult to reduce 
 into pradlice. The favings adually carried into eife£t (by 22 Geo. III. 
 cap. 82.) were below even 50,000/. and from that fum above 18,000/. 
 falls to be deducted for foine time, being the compenfation to which 
 various perfons, whofe ofhces were fuppreffed, were found to be in- 
 titled ; and the public has fince been under the neceffity of difcharging 
 the arrears for which thofe very favings were appropriated. The 
 merit, however, of the honourable gentleman who brought forward the 
 regulations contained in that aft, ought not to be forgotten. By his 
 exertions the payments of the civil lift expences have been arranged 
 in a manner which will probably prevent any material excefs in future. 
 Penfions (excepting in certain cafes fpecified in the adt) are reftridled 
 to a fum not exceeding 95,000/. per annum \ and the conftitution is 
 protedted from any rifle of injury, by the wife and falutary rules which 
 are eftabliflied refpe<5ling the diftribution of the fecret fervice money 
 with which the crown is intrufted, Thefe are material points for whicii 
 the thanks of the country are due to the public-fpirited citizen who at- 
 chieved them. In regard to other particulars in the bill, opinions may 
 vary : for one, I do not hefitate to declare, that, in my judgment, the 
 jealoufy of the crown, fo manifeft in the adl above alluded to, was carried 
 too far. However much fecret corruption ought to be reprobated, the 
 avowed influence refulting f;om the difpofal of employments neceflary for 
 the fplendour of the court, or the carrying on of the public bufmefs of the 
 country, ought not to be too bounded. In political as vfell as in other 
 lotteries, there ought to be an adequate proportion of fmaller, as well 
 as of greater prizes j and unlefs fonie method is adopted, by a partial 
 repeal of this bill, of attaching a greater number of individuals to the 
 crown than at prefent look up to it from the places they enjoy, or 
 the hopes of hereditary honours, it is not difficult to forefee that the 
 government muft either become weak and fluduating, or that the 
 
 * Commons Journals, vol, xxxviii. p. 971. 
 
 L 2 balance
 
 76 HISTORY OF THE PUBLIC REVENUE 
 
 balance of the conflitution will be overturned ; nay, the fpirlt and 
 morals of the people endangered, by too numerous and wealthy a 
 peerage, which has already been increafing with too rapid ftrides fince 
 other means of influence were abolifhed. 
 
 This branch of the fubjedl may be concluded with the following 
 abftradl of the adtnal difburfements of his majefty's civil government 
 for the year 1785, being the lateft account that appears on the Journals ; 
 and by examining which the reader will find the different particulars he 
 may wifh to be acquainted with, fully detailed. 
 
 ABSTRACT of a particular ACCOUNT of the DISBURSEMENTS 
 of the CIVIL LIST for the Year 1785. 
 
 FIrftcIafs. The penfions and allowances to the royal family £ 192,000 
 
 Second clafs. The lord chancellor, judges, 'i^c. - - 32,955 
 
 Third clafs. The foreign minifters _ - _ 75o43 
 
 Fourth clafs. Approved bills for his majefty's fervice - 138,641 
 
 vFifth clafs. The menial fervants of the houfehold - ^9)799 
 
 Sixth clafs. Penfions and compenfations for fupprelTed ofHces 125,757 
 
 Seventh clafs. Various other falaries payable out of the civil lift 82,187 
 
 Eighth clafs. The falaries of the board of treafury - 13,822 
 
 Ninth clafs. Occafional payments - - - 147,764 
 
 898,468 
 To cancel exchequer bills for paying the arrears 
 on the civil lift, but which were fmce dil- 
 charged by parUament - - 50,000 
 
 £ 948,468 ' 
 
 The real expences of the civil lift thus amounted to 898,468/. and 
 there is too much reafon to believe that it will require attention and 
 osconomy to confine the charges in future to the fum allotted for that 
 purpofe, namely, 900,000/. ; particularly confidering the increafing 
 
 * See Commons Journals, vol. xli. p. 639; and another account of the fame nature, 
 vol. xliii. p. 328. 
 
 1 2 price
 
 OF THE BRITISH EMPIRE. 77 
 
 price of every article of confumption, and other circumftances that 
 might be mentioned. 
 
 Only two other particulars remain, which it feems neceflary to take 
 notice of, as connedted with the income and expenditure of the royal 
 family; namely, ift, That by 15 Geo. HI. cap. ^2. Buckingham- 
 houfe was fettled on her majefty, in room of Somerfet-houfe granted 
 by a former adt. The original price of the queen's royal palace, as 
 it has been fmce called, was 28,000/. But from Lady-day 1762, to 
 Chriftmas 1774, 72,627/. was expended in enlarging and improving 
 it, making in all 100,627/''. In the event of furviving the king, her 
 majefty will be entitled to an annuity of \oo fiool. per annuvi^ being 
 50,000/. in addition to her prefent allowance. 
 
 In regard to the fettlements on the other branches of the royal 
 family; by 18 Geo. III. cap. 31. 60,000/. per annum is fettled on his 
 majefty's fons, and 30,000/. />£/• annmn on the princefles of the family, 
 payable on the king's demife ; together with 8,000/. per annum on the 
 fon, and 4,000/. /fr annum on the daughter of his royal highnefs the 
 Duke of Gloucefter, commencing at his death % Thefe provifions are 
 furely moderate, but are equal perhaps to what a nation fo loaded and 
 embarraffed as this is, can well afford. 
 
 The naval charges of this reign, to JNIichaelmas 1788, may be thus The navy. 
 ftated : 
 
 Aiino 1 76 1 
 
 £ 5.072,602 
 
 1762 
 
 5,688,012 
 
 1763 
 
 1,975,661 
 
 1764 
 
 2,053,200 
 
 1765 
 
 2,886,876 
 
 1766 
 
 2,680,683 
 
 1767 
 
 1 ,400,409 
 
 1768 
 
 1,238,883 
 
 1769 
 
 1,828,057 
 
 1770 
 
 1,580,467 
 
 1771 
 
 2,967,409 
 
 Carried over 
 
 £ 29,372,259 
 
 * Commons Journals, vol. xxxv. p. 320. 
 
 ' By 25 Geo. III. cap. 53. an annuity of 9000/. per annum, payable to the Duke of 
 Gloucefter during his life, is transferred from the i,\ p(r cent. Leeward Ifland duty, to the 
 aggregate fund.
 
 ^9: HISTORY OF THE PUBLIC REVENUE 
 
 Brought over 
 
 jC 29,372,259 
 
 ^/i/io 1772 
 
 1,813,164 
 
 1773 
 
 1,833,573 
 
 1774 
 
 2,052,917 
 
 1775 
 
 i>599,453 
 
 1776 
 
 3,092,967 
 
 1777 
 
 4,053,666 
 
 1778 
 
 4,779»i5i 
 
 1779 
 
 4,106,374 
 
 1780 
 
 6,777,632 
 
 1781 
 
 8,603,884 
 
 1782 
 
 7,095,228 
 
 ^7^3 
 
 6,197,832 
 
 1784 
 
 3,086,269 
 
 ^7^5 
 
 2,5^4,507 
 
 1786 
 
 2,381,526 
 
 1787 
 
 2,286,000 
 
 1788 
 
 2,236,000 
 
 93,872,402 
 
 Navy debt funded by 3 Geo. III. 
 
 cap. 9 - - 3A^3,5Si 
 
 Ditto funded by 5 Geo. III. 
 
 cap. 29 - - 1,500,000 
 
 Ditto funded by 24 Geo. III. cap. 
 
 39 and 25. ditto cap. ^3 and 71 1 7,869,993 
 
 £ 116,725,948 
 
 Great as our naval exertions were, and formidable as the confederacy 
 agalnft which we had to contend may be accounted ; yet fo enormous 
 an expence can hardly be jufllfied, particularly if the affertlon be true, 
 that two millions are fufficient to build a very formidable fleet.
 
 Number of Tons. 
 
 Total Price. 
 
 1650 
 
 f. 28,462 
 
 1400 
 
 23,520 
 
 700 
 
 7,«75 
 
 300 
 
 2,850 
 
 OFTHEBRITISHEMPIRE. 79 
 
 The contradl price for building king's fhips in the merchants yards, 
 is as follows : 
 
 Rate. Price /^r Ton. 
 
 Ships of 74 guns 17/. 15/. 
 
 Ditto 64 iGl. i6s. 
 
 Frigates 2>^ i\l. ^s. 
 
 Smaller ditto 16 9/. iij-. 
 
 At thofe rates the following number of (hips might be conftrudted : 
 
 Fifty ihips of 74 guns at £ 28,462 each £ 1,423,100 
 
 Twenty ditto 64 23,520 470,400 
 
 Twenty large frigates 75^75 '^S7iS'^'^ 
 
 Twenty fmall ditto 2,850 57,000 
 
 £ 2,108,000 
 
 As fhips of war might certainly be built for lefs money in the king's 
 than in the merchant yards, it can hardly be doubted, that for two 
 millions, feventy fhips of the line, and forty frigates, might have been 
 conftrudled. 
 
 The following fums were granted for military fervices : The army. 
 
 ^nno 1 76 1 
 
 £ 8,344,030 
 
 1762 
 
 7>657,205 
 
 1763 
 
 4*593,805 
 
 1764 
 
 2,267,867 
 
 1765 
 
 1,784,856 
 
 1766 
 
 1,910,413 
 
 1767 
 
 M37»3H 
 
 1768 
 
 1,472,484 
 
 1769 
 
 1,497,921 
 
 1770 
 
 1,547,931 
 
 1771 
 
 1,810,319 
 
 1772 
 
 1,551,428 
 
 Carried over 
 
 /'■^s,07<r,T7'?
 
 HISTORY OF THE PUBLIC REVENUE 
 
 neous ex 
 peaces. 
 
 Brought over 
 
 £ 35>97SyS7i 
 
 An7io ly-jT, 
 
 1,516,402 
 
 1774 
 
 1,549,720 
 
 1775 
 
 1.597.05 1 
 
 1776 
 
 3,500,366 
 
 1777 
 
 3.797.632 
 
 1778 
 
 4,833,666 
 
 1779 
 
 6,013,082 
 
 1780 
 
 6,589,080 
 
 17S1 
 
 7.723>9i2 
 
 1782 
 
 7,645,237 
 
 1783 
 
 5.577.474 
 
 1784 
 
 3.153.191 
 
 1785 
 
 1,689,169 
 
 1786 
 
 1. 594. 1 15 
 
 - 1787 
 
 1,831,069 
 
 1788 
 
 1,979,020 
 
 Total 
 
 £ 9(5,565.762 
 
 Mlferable indeed Is the refled'ion, to what little purpofe fuch fums 
 were given by the public. In the year 1704 the whole of the mi- 
 litary and naval eftiniates amounted only to 4,647,140/. Yet that 
 year was dillinguifhed by the vidories of Blenheim, and of Malaga ; 
 and ^the campaign was carried on in Spain, in Portugal, in the 
 Low Countries, on the Rhine, and on the Danube. Whereas the im- 
 menfe treafures whi. h have been lately voted, even for military fervices 
 alone, have not been attended with the confolation of one brilliant 
 event (the gallant defenc. of Gibraltar alone excepted) and far lefs with 
 any important acquifition. 
 The ord- T\\Q. whole expence of the ordnance, from the accefTion to Mi- 
 
 rance. chaelmas 1788, may be ftated at 17,079,011/. without including fuch 
 
 ordnance debentures as were funded at the fame time with the debts of 
 the navy. 
 Mifcella- It is not propofed to enter into any minute detail of the various mlf- 
 
 cellaneous expences which occurred during this reign. They amounted 
 in all to 4,466,508/. At the fame time it may be proper to make 
 
 fome
 
 OF THE BRITISH EiMPIRE. 8i 
 
 ibme obfervatlons upon any branch of this expenditure, the nature or 
 the magnitude of which more particularly- entitles it to the public at'- 
 tention. 
 
 I ' There is no branch of the national expence at which a Britlfh pa- American 
 tiiot is more apt to repine, than the money laid' out, whether for the ^"*P"° 
 civil or military purpofes of our colonies in North America. To 
 check t;hat rage of colonization, which has coft this country fo much, 
 it rtiaiy be proper to give a ftatement of the fums granted to thofe 
 provinces in the courfe of this reign, together with a general view of 
 ^ the whole expence of our American colonies, fince the acceffion of 
 the houfe of Brunfvvick. 
 
 The firft expences of this nature to be mentioned, are the fums which Rewards and 
 were granted to reimburfe thofe colonies for raifing and maintaining t°o'^^,^" * 
 troops, in fadl neceflary for their own defence, or employed in the 
 attainment of obje£ls (as the conqueft of Canada) which they had 
 particularly at heart. For this purpofe the Britifh parliament granted 
 during this reigti 472,676/. 
 
 The furveys made of the coafts of America (a matter of more con- Surveys, 
 fequence to them than to us) coft 34,296/. 
 
 For the fupport of their refpedive civil governments, from Mi- Expences of 
 chaelmas 1760 to Michaelmas 1788, there was voted as follows: !.^^I,'^11\' ^"^ 
 
 ' I ' vernments. 
 
 For, Nova Scotia - - - ^ 186,565 
 
 Georgia _ _ . - 77»303 
 
 Faft Florida _ _ _ 105,450 
 
 AVeft Florida - - - 102,311 
 
 St. John's - - _ - 32,550 
 
 New Brunfwick - - - 22,356 
 
 Cape Breton _ _ - j 0,600 
 
 Newfoundland - - - , - "^-tl^S 
 
 £ 539.500 
 
 Perhaps the moft fplendid inftance of public generofity which the i.oyaiiHs. 
 world has as yet exhibited, is to be found in the condud of the Britifh 
 legiflature at the conclufion of the American war : who, undifmayed 
 by the lois of thirteen provinces, and all the enormous debts and taxes 
 of which the war was neceffarily produdive, did not hefitate to hold 
 Part III. M forth
 
 HISTORY OF THE PUBLIC REVENUE 
 
 forth hopes of compenfation to thofe who had fuffered by their at- 
 tachment to the mother country in the courfe of the conteft. After 
 the reftoration, parliament had granted 60,000/. to be diftributed 
 among thofe unfortunate royalifls who had undergone a feries of 
 diftrefs, during the civil wars by which the reign of Charles the Firft 
 had been afflided '. But inftead of voting a fpecific fum on the fame 
 prudent principles, upon this occafion commiffioners were appointed 
 to make a general enquiry " into the lofles and fervices of all fuch 
 " perfons who have fuffered in their rights, properties and pofTefTions 
 " during the late unhappy diflenfions in America, in confequence of 
 " their loyalty to his majelly, and attachment to the Britilh govern- 
 " ment." 
 
 The reader will naturally be defirous of having a fhort account of 
 the progrefs of this expence, and a ftatement of what the total will 
 probably amount to. 
 
 The firft mention of any claim of this kind, is in the account laid 
 before parliament of the debts of the civil lift as they ftood on the 5th 
 of January 1777. It was there ftated that 32,934/. 16s. 6d. had 
 been iflued for the relief and benefit of fundry American civil officers 
 and others, who had fuffered for their attachment to his majefty's go- 
 vernment. This fum, after a (hort debate, was ultimately made good 
 by parliament'. 
 
 ^nno 1778 the fum increafed to 56,680/. 2s. (>d.\ and the fuc- 
 cecding year to 60,527/. 3/. 6^. which Lord North (then chancellor 
 of the exchequer) ftated, in the committee of fupply, was a grant that 
 would probably diminifli for the future, as feveral Americans who had 
 fled from Georgia, and were fupported here by the national ge- 
 nerofity, had returned home, and confequently that any claims of that 
 nature could not be fo great after their departure. 
 
 During the fuccecding years, various grants were made by parlia- 
 ment, partly to American fufferers in general, and partly to thofe 
 civil officers who had been driven from that country ; the whole fron> 
 1776 to 1789, amounting to 720,873/. in addition to the fums laid 
 out under the diredion of the commiffioners of enquiry. 
 
 The reports given in by the commiffioners are intitled to particular 
 attention. They firft ftated the number of claims given in to be 2994 ; 
 
 • Hiftory of the Revenue, parti, p. 132. ' Parliamentary Regifter, vol. vii. p. 356. 
 
 the
 
 OF THE BRITISH EMPIRE. 83 
 
 the grofs amount of the fums claimed for lofs of property 7,261,358/. 
 and that 90,236/. of annual income was alleged to have been loft. 
 But thefe claims, when examined, were confiderably reduced, and the 
 following ftatement was drawn up by the commiffioners, difcriminating 
 the various defcriptions of loyalifts, and the lofles of property, or of 
 income fuftained by each. 
 
 Number. Property. Incoire. 
 
 1. Loyalifts who have rendered £. £. 
 
 fervices to Great Britain 204 596,092 25,085 
 
 •2. Loyalifts who had bore arms 
 
 in the fervice of Great Britain 481 254,988 6,503 
 
 3. Loyalifts zealous and uniform 626 590,424 38,871 
 
 4. Loyal Britifti fubje(Sts refident 
 
 in Great Britain - 20 89,371 1,070 
 
 5. Loyalifts who took oaths to the 
 American ftates, but afterwards 
 
 joined the Britifh - 27 35,046 280 
 
 6. Loyalifts who bore arms for 
 the American ftates, but after- 
 wards joined the Britifti - 23 22,853 2,725 
 
 7. Loyalifts fuftaining lofles under 
 
 the prohibitory ait - 3 I3>97^ 
 
 8. Loyal Britifh proprietors 2 258,254 
 
 9. Loyalifts now fubje£ts of the 
 United States, but who have 
 
 met with peculiar hardfhips 25 26,549 970 
 
 CLAIMS difallowed and withdrawn. 
 
 fi. For want of proof of loy- 
 alty - - 7 
 2. Want of proof of lofs 250 
 
 13. Fraudulent - 12 
 
 4. For debts only - 10 
 ^5, Withdrawn - 34 
 
 3*3 
 
 10. ■< 
 
 Total 1,724 1,887,548 75,504 
 M 2
 
 84 HISTORY OF THE PUBLIC REVENUE 
 
 In addition to the above, it Was ftated that there were four loyal 
 fubjeds who have relief provided for them by the treaty of peace, but 
 cannot procure it, whofe claims amounted to 49,363/. and that the 
 probable amount of future claims would be, 300,000/. 
 
 It is farther to be obfervfed, that commifTioners had been appointed 
 for the purpofe of enquiring into the lofles of fuch perfons as had fuf- 
 fered in their properties in confequence of the ceffion of Eaft Flo- 
 rida to the king of Spain ; which commiffioners reported that they 
 had received 268 different claims, whofe grofs amount was 602,765/. 
 is. yd. upon examining 179 of which number, they found the fum 
 of 127,552/. 14J. 3^. ought to be allow^ed. 
 
 On the 6th of June 1788, this impiortant fubjecSt came under the 
 confideration of parliament. After fome difcufTion, refolutions were 
 come to by the committee of fupply on that day, in confequence of 
 which a bill was brought in, which has to a certain degree afcertained 
 the extent of thofe claims. By the A£t 28 Geo. III. cap. 40. certifi- 
 cates bearing an intereft of 3 ^ per cent, were ordered to be iffued to 
 various clafles of loyalifts, to the amount of 1,228,239/. and the 
 claims of the Eaft Florida proprietors were admitted to the amount of 
 113,952/. 14/. 3^. Certain allowances were alfo made to thofe 
 loyalifts, whofe loffcs of income had been proved to the fatisfadion 
 of the commiffioners. But this is far from winding up the account : 
 for the commiffioners appointed to examine Into this bufmefs, have 
 already received 38,093/. i6x. \\d. The Eaft Florida commiffioners 
 3,700/. The fees at the exchequer, on the receipt of 150,000/. paid 
 to the loyalifts ^««o 1785, and which was relmburfed by the public 
 out of the fupplies 1786, amounted to 3,750/. 14J. Lands pur- 
 chafed at the Bahama Iflands and St. Vincent's, for the behoof of the 
 loyalifts, together with the expence of furveying and fettling new 
 eftabliflaments for them in Nova Scotia and other parts of North 
 America, will probably require in all at leaft 250,000/.*^ and the eftimate 
 originally given in of the half-pay of the American forces, was at the 
 rate of 6o,oco/. per annum. 
 
 ' 50,000/. was voted <7»«tf 1787, for vidlualling the loyalifts in theirnew fettlements in 
 Nova Scotia. See Parliamentary Regifter^.v.ol. xxii. p. 134. 
 
 ,.. . . , The
 
 OF THE BRITISH EMPIRE. 85 
 
 The following account will then give fome idea of the magnitude of 
 this branch of our American expenditure. 
 
 STATE of the probable Amount' oPtfie'^EXPENCE refulting' fi-om 
 the Compenfation and Relief given to American Loyalifts, and the 
 Proprietors of Eaft Florida. 
 
 I. Suins paid prior to^ or IJnce the appointment 
 
 of the commiilioner's of enquiry, exclufive of ... • 
 the fums diftrlbuted under tlieir diredion ^ " /^ 720,873 
 - 2. .Loyalifts certificates, ty 28 Geo. III. cap. 49 '„",. 1,228,239 
 
 3. Eaft Florida loyalifts certificates, by ditto ' - 113,952 
 
 4. UriJiquiJated claims (calculated a,t) - 300,000,, 
 c. Annual, incomes of the loyalifts, if reduced ' "-' 'j^ ' ' ' 
 
 ; I '■',:. )['■ * ''..',0 . : 
 
 to 35,000/. at ten years purchafe - ' '.'' 350,060 
 
 6. The half-pay of American . forces (60,000/. 
 
 per anriimi) at eight years purchafe - 480,000 
 
 7. The expence of the commiflioners before their 
 
 enquiry is concluded, will probably amount to • 50,000 
 
 8. The Eaft; Florida commlftloners - 3j75C> 
 
 9. Lands purchafed for the loyalifts in the Weft: 
 Indies, and expence attending their new fet- 
 
 tlements in Nova Scotia, £5°6\ - 250,000 
 
 lo. Fees at the exchequer - - 3»75.o. 
 
 £ 3»5oo>564 
 
 Thus the whole cannot be calculated at lefs than three millions and 
 a half. 
 
 It muft yield no fmall degree of fatisfadion to eret^ citizen of this 
 country, to be able to produce f6 unparalleled' an inftance of national 
 liberality and fpirit ; and the bufinefs being now in fome ineafure 
 concluded, the moft penurious can hardly wifti it undone, notwith- 
 ftanding the expenhve cortfeqUences of which it has been- produdive. 
 It is to be hoped, however, that Ibme ea'Htioh will be exercifed for 
 the future' iri giving way;'t<5'-fimilar -cJaitti^' It wJH-hbe be difficult, if 
 any^ ottTef rebellion fhould arife in^^the foreign pofleffions of Great 
 
 1 ' Britain,
 
 &5 II ISTORYOF THE PUB Lie REVENUE 
 
 Biitain, to pra€llfe a thoufand frauds upon the public, if fuch a prin- 
 ciple is to be adopted in future. The timid and the wealthy, under 
 the pretence of loyalty, will naturally fly from the fcene of war, and 
 flielter themfelves in a country, by which their property will be 
 reftored, if it proves fuccefsful, or who will recompenfe them for 
 their Ibfles if dtherwife. The leaders of the rebellion will engage 
 with more fpirit in the caufc, from the hopes of confifcation and 
 plunder ; and enriched with the fpoils of thofe who have fled, will 
 undergo any extremity fooner than relinquifli them : and thus Great 
 Britain may fubjedk itfelf to an enormous expence, for the purpofe of 
 rewarding the attachment of thofe who never could be of any material 
 fervice to it, whilft the war is rendered at the fame time more difficult to 
 make up, and more inveterate. 
 Warlike ex- The particulars Above ftated, however, are far from including the 
 America! whole of our Ameiican expences. But the naval, military, and ord- 
 nance charges of the colonies cannot be accurately made up, in con- 
 fequence of their being involved in the accounts of other fervices ; 
 and in particular from the indiftindnefs with which the extraordinaries 
 of the army are laid before parliament. But it would be well worthy 
 the attention of any real patriotic minifter to have all obfcurity on this 
 fubieft removed, and an accurate ftatement drawn up for the fatif- 
 fadlon of the public, of the fum which each of our foreign pof- 
 feffions has coft us for this century part. In the mean while the 
 following general view of our American expences, is fubmitted to , 
 the reader. 
 
 STATE of the EXPENCES of our American Colonies, from the 
 AcceflTion of the Houfe of Brunfwick, to Michaelmas 1788. 
 
 1 . For fettling and fecuring, and for defraying 
 the expences of the civil governments of the 
 
 American colonies - ' £ *>294,582 
 
 2. For compenfation and rewards to the faid 
 colonies for exertions in their own defence, 
 or for afllfting in warlike operations calcu- 
 lated for their own immediate advantage 1,372,518 
 
 Carried forward £ 2,667,100
 
 OF THE BRITISH EMPIRE. tj 
 
 Brought forward £ 2,667,100 
 
 3. For bounties granted on the importation of 
 
 American commodities - - 1,609,345" 
 
 4. To the proprietors of Carolina, for pur- 
 
 chafmg their title to that province - 22,500 
 
 5. To the fufFerers by the fire at Charles 
 
 Town, anno 1740 - - 20,oco 
 
 6. Expence of American furveys - - 34,296 
 
 7. From 1 7 14 to 1775, the money voted by 
 parliament for the forces employed in de- 
 fence of the colonies, amounts to - 8,779,925 ' 
 
 8. Ditto from 1775 to 1788 (both inclufive) 
 
 at the rate of loo^oool. per annum - 1,400,000 
 
 9. Extraordinary expences for forts, garrifons, 
 
 ordnance ftores, prefents to Indians, '^c. 10,500,000" 
 
 10. Expences of fleets and naval ftations, efta- 
 
 blifhed for the defence of America - 12,000,000 
 
 11. Compenfation and relief to American loyalifts 3,500,000 
 
 Total ^40,533,166 
 
 'Thus, the whole expences we have been put to in confequence of our 
 poflefling colonies on the continent of North America, may be eftimated 
 aX forty millions^ in addition to the charges of at leaft two war?, which 
 coft us above 240 millions more, and which were entered into princi- 
 pally on their account. 
 
 It is the more neceflary to bring forward inquiries into this branch of 
 our expenditure, as the rage for colonization has not as yet been driven 
 from the councils of this country. We have fortunately loft New Eng- 
 land ; but a New Wales has fmce ftarted up. How many millions it 
 
 s Seethe Rights of Great Britain arterted againft the Claims of America, written by 
 Sir John Dalrymple anno ij'ji), who was the firft that attempted to open the eyes of this 
 country to the magnitude of its expences in America. 
 
 '' In the Parliamentary Regifter a«w 1776-7, vol. vi. p. 80. there are eftimates of the 
 yearly expence in North America, in fo far as refpcdls merely the extraordinaries of the 
 arm,y» according to the ufual eflimates prior to the late war, the total of which amounts to 
 57,122 /. 2s. 8i</. per annum. But the detail takes up 68 pages in odavo. 

 
 u 
 
 HISTORY OF THE FUBLIC REVENUE 
 
 Weft India 
 expences. 
 
 African ex- 
 pences. 
 
 Convids. 
 
 m.iycoft, may be thejfubjed of the calculations of fucceeding financiers 
 a century hence, unlefs, by the exertions of fome able ftatcfman, that 
 fource of future wafte and extravagance is prevented. 
 
 Our colonies in the- Weft Indies are pofleffions attended with 'this ad- 
 vantage,- that in addition to a very lucrative commerce, they have alio 
 in general yielded a revenue adequate to their civil eftabliiliTneiits. • In- 
 deedj thc: following are the only Aims in our public accounts, which can 
 be ftated againft aay part of our infubr.domimons in that quarter of the 
 
 -)l; r.i li . 
 Foi:, the .Bahama Iflands .„ .fiwotvs T^^moloZ 
 Bermuda - - ^^,^-j ^,^,^^,j . 
 
 ■^Mi^^^*^^ of Dominica ,.,,,p.,^,«^ .\cocroc 
 
 £, 2 j.,34o 
 .. . . -600 
 
 K'^hii^ 
 
 "For affifting the colony-'-of Batbadies in rendering' the harbour there 
 more 'fafe and commodious, 1 0,000 A was granted'; and in the year 
 1781, I 2o,co,o/. was voted to relieve the inhabitants of that ifland, and 
 of Jamaica, who had fuffered by a violent hurricane : 10,000 /. was alfo 
 granted anno 1765 to Barbadoes, for the affiftance given by that colony 
 to the forces under General Monkton fent againft Martinique. 
 
 The African forts, and the civil eftablill^ijie?>.t dt ^enegambia, duping 
 thisreign, have coft 480,990/. , ,,...•,,!,. • - 
 
 Since 1777, a new fource of expence has appeared, which it is difficult 
 to know how to remedy. Prior to the late war, it was ufual to tranfport 
 to America thofe unfortunate individuals' who were convi£l:ed of fuch 
 fmaller felonies as are too frequent iri a country, where, from the freedom 
 of the government, no ftrift police can be eftabliflaed, and where the 
 morals of the people are apt to be corrupted by the temptations of a 
 luxurious capital. The independence of the colonies having put an 
 end to that mode of punifhment, it became neceflary to adopt fome 
 other fcheme for the purpofe of endeavouring to reform the unhappy de- 
 fcription of perfons above alluded to, or at leaft to pretext the public 
 from their depredations. Various plans with fuch views were propofed 
 to government. The one adlually adopted has beeil, to place them on 
 board of hulks in the Thames, where they may be of fome ufe in raifmg 
 
 ballaft
 
 OFTHEBRITISH EMPIRE. 89 
 
 ballafl; for fhipplng ; and fince their numbers became too great for any 
 employment of that kind, an attempt has been made to found a new em- 
 pire, by fending them to the diftant regions of New Holland. 
 
 It is beyond the limits of a work of this kind, 10 enter into the difcuflion 
 of fo extenfive a fubjed:. It is however proper to remark, that even in 
 a financial view, it is entitled to very ferlous attention. From 1776 to 
 1789, 220,873/. was expended inmaintainingtheconvi£lson the Thames, 
 and above 100,000/. has already been laid out in attempting to eftabliih 
 a very unpromifing colony in New South Wales. At the moft moderate * 
 
 calculation, the punifhment of petty felons, if the fame meafures are 
 purfued, will coft above 50,000 /. per amnim ; — an article which has not 
 as yet been ftated in any eftimate of the permanent expences of this 
 country. 
 
 It may be proper to take notice of the expences which have been in- somei-fet 
 curred in the new buildings at Somerfet Houfe, were it only for the Home, 
 purpofe of warning the public againft giving way to plans which, how- 
 ever moderate they may at firll appear, yet in general turn out very 
 different from the original eftimate, Whenthefe buildings were propofed 
 to parliament anno 1775, it was ftated that the expence w^ould not exceed 
 135,700/. whilft the repairs neceflary at the feveral offices propofed to 
 be removed, the rents paid annually for the fame, the value of the pro- 
 perty and buildings thereof, and the price of the ground at Somerfet 
 Houfe which would remain unoccupied, might be calculated at 99,550/. 
 confequently the public might enjoy the fatisfadion of pofTeffing a mag- 
 nificent edifice, and the advantage of having a number of public offices 
 concentered together, for about 36,150/.' 
 
 It is unnecefiary to detail the various fums which have been paid 
 at different times, fince the year 1775, on account of thefe buildings, 
 it is fufficient to remark, that on the 19th February 1788, they 
 amounted to 306,134/. But the whole, coft will probably reach half 
 a million, before the plan is completed. The buildings are certainly ufeful, 
 and perhaps were necefl"ary : They have given employment to the poor, 
 and they contribute to ornament the capital of the country, which is 
 rather deficient in fuch decorations. But the fum they are likely to re- 
 
 ' Commons Journals, vol. xxxv. p. 321. 
 
 Part III. N quire
 
 90 HISTORY OF THE PUBLIC REVENUE 
 
 quire is to be regretted, not only on account of its exceeding tlie ori- 
 ginal cflimate in fo large a proportion, but alfo as being expended fof 
 the accommodation of offices where lefs magnificence might have fuf- 
 ficed, at a period when we were involved in fo many other enormous 
 expences, and at a time when the palaces of the fovereign are far from 
 being diftinguifhed by the fplendour of their appearance. 
 Expenceof ^ov fome years paft, it has not been unufual to appoint parlia- 
 
 various com- ^,„ r ■> r c i • • • 
 
 iniflions. mentary commimoners tor the purpoie oi making various important 
 inquiries of a public nature. The expence attending thefe commifTions 
 has already amounted to the following fums : 
 
 1. To the commiflioners of public accounts - ^^ 57,400 
 
 2. CommifTioners of American loyalills - 38,093 
 
 3. Commiflioners of Eaft Florida loyalifts - 3>70C> 
 
 4. Commiffioners for the woods and forefts, and the 
 
 land revenues of the crown - - 7,200 
 
 5. Commiflioners for inquiring into fees - i>6o3 
 
 6. Commiflioners for difcharging the national debt 2,061 
 
 ;C 124,457 
 
 Whoever will take the trouble of perufing the accurate and able 
 reports drawn up by the firft; of thefe boards, will not probably 
 regret that part of the above expenditure. And perhaps more benefit 
 is to be derived by appointing occafional commiflioners for fpecific pur- 
 pofes, than by forming regular efl:abliflaments, which are too apt to lofc 
 fight of the purpofes for which they were infliituted. 
 
 Without entering into any particular detail of the various other ex- 
 pences, of a mifcellaneous nature, which have occurred during this reign, 
 it may be fufficient to give the following fhort and general abftradt of 
 the particulars of which they confifted :
 
 OFTHEBRITISHEMPIRE. 5*.'. 
 
 An ACCOUNT of various INCIDENTAL EXPENCES in- 
 curred in the courfe of the prefent Reign, from Michaelmas' 
 1760 to Michaelmas 1788. 
 
 Parliamentary Expences. 
 
 I. To make good to his majefty various fums IfTued purfuant to 
 
 addrefles - - _ - ^^336,17- 
 
 1. For compiling indexes to the journals of the houfe 15,900 
 
 3. The expence of different Eaft India committees 2,806 
 
 4. Charges incurred by the fmuggling committee - 230 
 
 Public Profecutions. 
 
 1. Expences incurred in the profecution againft Sir Thomas 
 
 Rumbold - - - - £ hS^l 
 
 2. Trial of Mr Haftings - - - 8,058 
 
 Commercial Expences. 
 
 J. To the Levant Company to affift them in carrying on their 
 trade - - - - £75P°° 
 
 2. Surveys of the weft coaft of Great Britain and Ire- 
 
 land, and the expence of engraving the fame 2,145 
 
 3. For making difcoveries to the South Pole - 5>ooo 
 
 4. To Dr, Irvine for his method of making fea-water 
 
 frefti and wholefome . - - 5,000 
 
 ;C 87.145 
 
 N 2
 
 « ■ 
 
 f 
 
 9a HISTORY OF THE PUBLIC REVENUE 
 
 Public Rewards. 
 
 1. To David Hartley Efquire, towards enabling him to afcertain 
 
 the pradicability and utiUty of his method to fecure build- 
 ings and fhips from fire - - £ 2,500 
 
 2. To various perfons for difcoverlng dyes ufeful to our 
 
 manufadures - - _ - 9,500 
 
 3. To Charles Dingley for eretSting a public wind faw- 
 
 mill for manufacturing timber - - 2,000 
 
 4. To John Blake Efquire, to aflift hiin in carrying on 
 
 his fcheme for tranfoorting fifh to Loudon by land- 
 carriage - - - - 2,500 
 
 / 16,500 
 Compenfatlons. 
 
 1. Various compenfations to different individuals for fhips de- 
 
 tained for the public ufe and the like - £^^^521 
 
 2. In fatisfadlion of lolTes incurred in preventing the in- 
 
 fectious diflemper among the horned cattle from 
 fpreading _ _ _ » 4,074 
 
 3. Compenfadon for damages fiiftained by powder mills 5,000 
 
 4. To Dr. Peter Swinton for damage to his eflate at 
 
 Chefter in the rebellion afino 1745 - 700 
 
 5. To MeflVs. Hodgfon and Company, being the ac- 
 
 count of excife duties overpaid by them - Ai3^i 
 
 6. Compenfation to perfons who had fuftained damage 
 
 in the riots in London auno. 1780 - 31,206 
 
 / 61,864. 
 
 Public Roads, Harbours, Buildings, ^c, 
 
 1. Scotch roads . - _ ^^ 11 1,422-. 
 
 2. Repairing roads in Durham, and building the bridge 
 
 at Coldftream - - . - 4,000: 
 
 Carried forward j^ 115,422
 
 OF THE BRITISH EMPIRE. 
 
 Brought forward ^ 115,422 
 
 3. For making a road on Penmaenmawr In Wales 2,000 
 
 4. To the foundling hofpital - - - 368,679 
 
 5. London Bridge - - - - 37,000 
 
 6. Rebuilding Newgate _ _ _ 30,000 
 
 7. Paving the ftreets of Weftniinfter - - 20,800 
 
 8. Weftminfler Bridge _ _ _ 6,000 
 
 9. Making a commodious palTage to theHoufe of Com- 
 
 mons _____ 12,00® 
 
 10.. Catwater harbour at Plymouth - - 3,000 
 
 II. The Britifh mufeum _ - - 39>750 
 
 S3 
 
 jC 634.65: 
 
 Various Expences, 
 
 1. The extra expences of the mint - £,Sl?>'fi^9 
 
 2. Debts due on the forfeited eftates in Scotland ^^ 0,553 
 
 3. Lands purchafed for extending the fortifications at 
 
 Portfmouth and at Plymouth - - Z^tlS^ 
 
 4. General James Murray (late governor of Minorca), 
 
 to indemnify him againft the verdidl obtained by 
 James Sutherland, and the expences attending 
 the fame _ - - _ 5,489 
 
 >C 7^9.489 
 
 There has been received by the public creditors in the courfe of this Public debw. 
 reign, in payment either of the principal or of the intereft of their re- 
 fpedlve debts, to the amount of about 189,354,581 /. This fum muft 
 feem enormous ; but it is to be confidered that the intereft at his ma- 
 jefty's acceffion amounted to about 4,500,000 /. per annum ; and that 
 for fome years paft, above nine millions has been annually paid, which 
 foon accumulates into a fum hardly to be credited. Befides^ prior to 
 the American war, fome progrefs was begun to be made in diminifhing 
 even the capital of the debts. 
 
 8- The
 
 94 HISTORY 6F the PUBLIC REVENUE 
 
 The total expences of this reign until Michaelmas 1788, may be 
 thus ftated : 
 
 The civil lift _- - - ^ 25,849,5 1 1 
 
 The navy - . _ - - 116,725,948 
 
 The army - - - - 96,565,762 
 
 The ordnance - ■ - - - 17,079,011 
 
 Mifcellaneous expences - - 4,466,508 
 
 ;^ 260,686,740 
 In payment of the principal and intereft of the 
 
 public debts _ - - 189,354,581 
 
 Total ;{* 45 0,04 1,3 2 1 
 
 The peace eftablifliment on an average of four years, ending 1 770, 
 was as follows : 
 
 Average of navy - - - ;^i, 573*422 
 
 Army , . . 1,513,412 
 
 Ordnance _ _ - 227,907 
 
 Mifcellaneous fervices - - 108,231 
 
 Total £ 3,422,972 
 
 The peace eftablifliment being thus afcertained, it is evident that any 
 expence exceeding that fum, from the commencement of the American 
 war anno 1 775, to this time, may be ftated to its account. 
 
 The following fupplies (including votes of credit for feven years) 
 were granted fmce that period : 
 
 Jmio 1775 
 
 - - - 
 
 ;^ 3*584,955 
 
 1776 
 
 - r - 
 
 8,187,480 
 
 1777 
 
 _ _ _ 
 
 9,649,792 
 
 1778 
 
 _ - _ 
 
 11,585*409 
 
 »779 
 
 W •- w 
 
 12,365,645 
 
 1780 
 
 Carried forward 
 
 15*749.199 
 
 
 j(^ 61,122,480
 
 OF THE BRITISH EMPIRE. ^s 
 
 Brought forward jT 6i,222,^So 
 
 1781 _ - - _ 19,189,187 
 
 1782 - - - - 17.709.055 
 
 1783 - • - - - 13,694,102 
 
 1784 - - - - 7,154,568 
 
 1785 - - - - 4,773.377 
 
 .1786 - - - - 5.038,344 
 
 1787 - - - '- 4,448,495 
 
 1788 . . _ - 4,943,883 
 The navy debt, funded afifio 1784 and 1785, 
 
 amounted to - - - 17.869,993 
 
 The unfunded debt atifw 1788 may be ftated 
 
 at - - - ^10,750,000. 
 
 ^/ifio 1774 was only about - 3,000,000 
 
 Difference 7,750,000 
 
 ' jC ^63,693,484 
 
 By the mode purfued of giving the public cfeditors 
 a great additional capital when any debts were 
 funded, the public has incurred an artificial 
 debt of about - - - 23,400,000 
 
 ^187,093,484 
 The peace eftablifhment, at the rate of 3,422,972 /. 
 per annum for the fpace of 14 years, would 
 amount to " _ _ - - 47,921,608 
 
 There remains the expence of the American war, 
 
 being , - . _ i" 139,171.876 
 
 When this ftatement is confidered, it is difficult to conceive how the war 
 could have proved fo unfuccefsful. One would imagine that it was hardly 
 poffible to contrive the wafting of fuch enormous fums of money to fo 
 little purpofe. The naval victories of Rodney, and the gallant defence of 
 Gibraltar, are almoft the only circumftances that can afford us any con- 
 folation for fuch a fruitlefs wafte of the national wealth. But it was in 
 
 vain
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Tain to expeA fuccefs abroad, -while a fadious fpirit triumphed at home, 
 preying on the ftamina of the cnnntry. and confuming its vitals and its 
 Ilrength *. 
 
 It may now be proper to give feme general flatements of the total 
 of our public expences fince the revolution. 
 
 I. EXPENCES of the CIVIL LIST during the Reign of 
 
 William III. "- ' - - - ^8,878,230 
 
 Queen Anne _ - _ - 7,604,848 
 
 George I. - - - - 10,632,514 
 
 George II. - - - - 27^382,258 
 
 George IlL - - - - 25,849,511 
 
 ;C 80,347,361 
 
 2. NAVAL EXPENCES during the Reign of 
 
 William IIL - - - ^ 19,822,141 
 
 Queen Anne - - - - 23,484,574 
 
 George I. _ - - - 12,923,851 
 
 George II. . _ - _ 71,424,171 
 
 George III. - - - 116,725,948 
 
 ^244,380,685 
 3. MILITARY EXPENCES during the Reign of 
 
 William III. _ . - ;^ 22,017,706 
 
 Queen Anne - - - - I'^^^lS^l^^ 
 
 George I. - - - - 13,842^4.67 
 
 George II. - - - - 74,9 1 1 ,70 1 
 
 George III. - - - - 96,565,762 
 
 .jT 240,3 1 2,967 
 
 * Juftly is it obferved by Shakefpear, 
 
 — — " O ! England, England ! 
 « Thou little body with a mighty heart j 
 " What might'ft thou do, 
 *• Were all thy children kind and natural !"— — —
 
 OF THE BRITISH EMPIRE. S>7 
 
 4. ORDNANCE EXPENCES during the Reign of 
 
 WllUamm. . » . - £3y'^°^^S3S' 
 
 Queen Anne - - - - 2,100,676 
 
 George I. - - - - 1,064,449 
 
 George 11. - - - - 6,706,674 
 
 George IIL - - - -. 17,079,011 
 
 ;^ 29,959,345 
 
 5. MISCELLANEOUS EXPENCES during the Reign of 
 
 "WiUlam III. (incidental expences) ^^ 41,825 
 
 Dutch expences, recOinage, ^c. 4,389,991 
 
 ;^ 4,431,816 
 
 Queen Anne (incidental expences) j^ 200,000 
 Tranfport fervice, building churches, Sii'ir. 1,823,575 
 
 L 2,023,575 
 
 George I. - - - - 150,000 
 
 George II. _ - - - 3,651,404 
 
 George III. -^ - • — 4,466,508 
 
 £ 14.7-3.303 
 
 6. INTEREST of the PUBLIC DEBTS, LOANS repaid, ^c, 
 
 during the Reign of 
 
 William m. . - - ^^ 13,971,458 
 
 Queen Anne _ - - > 52,184,527 
 
 George I. - _ - . 41,218,879 
 
 George IL - - . - - 93,574,134 
 
 George in. - - - - 189,354,581 
 
 ;^ 390.276,579 
 
 Fart III, O
 
 HISTORY OF THE PUBLIC REVENUE 
 
 7. GENERAL VIEW of the public EXPENCES from the Revolu- 
 tion to Michaelmas 178S. 
 
 The civil lift - - - £ 80,347,361 
 
 The navy - _ _ - 244,380,685 
 
 The army _ - - - 240,312,967 
 
 The ordnance - - - . 29,959,345 
 
 Mifcellaneous expences - - - 14,723,303 
 
 609,723,661 
 Principal difcharged and intereft of the public 
 
 debts paid fmce the revolution - 390,276,579 
 
 Grand total £ 1,000,000,240 
 
 8. PROGRESS of the PEACE ESTABLISHMENT fmce the 
 
 Revolution, 
 
 During the reign of King William - £ i ,907,455 
 
 Queen Anne - 1,965,605 
 George I. - - 2,583,000 
 George II. - - 2,766,000 
 George III. [anno 1770, in- 
 cluding the civil lift) - - 4,322,972 
 
 Eftimate of the peace eftablifhment in future 4,937,274 
 
 The latter fum confifts of the following particulars : 
 
 Civil lift - - - - £ 900,000 
 
 Navy - - _ > 1,800,000 
 
 Army - - - _ 1,600,000 
 
 Ordnance _ -. - - 348,000 
 
 Militia - - '- r 91,000 
 
 Mifcellaneous fervices _ _ _ 74,274 
 Increafed plantation expences, and Heffian fubfidy 124,000 
 
 £ 4»937'2 74
 
 OFTHEBRITISHEMPIRE. 99 
 
 But this eftimate is greatly exceeded every year, particularly under 
 the heads of naval, military, and mifcellaneous fervices. 
 
 9. EXPENCES of War fince the Revolution. 
 
 Expences of v/ar during the reign of Wil- 
 liam III. - - _ . ^ 30,447,382 
 Queen Anne - - - _ 43,360,003 
 George I. - - - - 6,048,267 
 Expence of the war begun anno 1739 - 46,418,689 
 Ditto of the war begun anno iJS^ ~ - 111,271,996 
 Ditto of the American war - - 139,171,876 
 Ditto of the late armament - - 3^^j3^5^ 
 
 Total £ 377,029,598 
 
 It feems fcarcely neceflary to remind the reader, that minute ex- 
 adlnefs in accounts of fuch magnitude, is not to be looked for. But 
 the above ftatements, it is believed, are fufficiently accurate to give him, 
 a general view of the nature of the public expenditure for this cen- 
 tury paft. 
 
 It is impoffible for any one to confider the preceding accounts for Condufion., 
 a moment, without demanding in what refpedts the nation is bettered, 
 
 ' The merit of the late revolution in Holland is pretty generally attributed in this 
 country to the wifJom and fpirit of our cabinet j and particular credit is taken on account 
 of the fmall fum which our exertions on that occafion are fuppofed to have coft. But 
 the Pruflian minifter (the Count de Hertzberg) tells us a different tale. We are informed 
 by him in his Memoire " fur le vrai caraflere d'une bonne hilloire, et fur la feconde annee 
 du regne de Frederic Guillaume II. Roi de Prufle ; lu dans I'aflsmble publique de I'Academie 
 des Sciences de Berlin leai Aout 1788." " C'eft ainfi que Le Roi z eu la gloire et la fatif* 
 " fadlion d'avoir opere une des plus grandes revolutions dans un etat voifin, en quatre fe- 
 " maines de terns, fans grande efFufion de fang, par des refolutions promptes et vigoreufes, 
 " executees par la conduite fage et valeureufe du Due de Bronfwic, de fes generaux, et d'ua 
 " petit corps de troupes PruHiennes." There is not a word of the Englifti minifter (Mr. 
 Pitt) in any part of the work. With regard to the expence, when the Heffian fubfidy of 
 36,093/. 15 f. for four years, together with the fum of ioo,coo/. per annum of additional 
 eftablifhment for protefling our Weft India iflands, are confidered, it will not appear fo 
 very infignificant. The fubfidy amounts in all to 144,375/. and the addition to our efta- 
 bliftiment is equal to the intereft of 2,500,000/. i\t j\. per cent. To this, the increafed 
 half- pay of the naval and military officers promoted upon the occafion, falls to be added. 
 It is farther to be confidered, that the manning of the fleet was alniofl: univerfally de- 
 fedlive, which greatly curtailed the expence of that department. 
 
 vi- O 2 and
 
 loo HISTORY OF THE PUBLIC REVENUE 
 
 and what objeds It has attained, in confequence of fuch enormous 
 cxpences. True it is, that we have ftill fome provinces in North 
 America, fome colonies in the Weft Indies, fome fettlements on tlie 
 coafl of Africa, the fortrefs of Gibraltar, and extenfive poflTefTions in 
 the Eaft. But thefe acquifitions, however great or valuable, can never 
 compenfate for the wafte of treafure and of blood which has taken 
 place in confequence of that fyftem of political condud: which, fince 
 the revolution, has been purfued. 
 
 The fyftem to which I allude, had two objcdls in view. Firft, to 
 check the power of the houfe of Bourbon, which feemed to threaten 
 Europe in general with fubjedion. Next, to acquire, to eftablifh, or 
 to preferve, colonial fettlements for the purpofes of commerce. As 
 that fyftem has not proved very beneficial, it may be worth con- 
 fideration, whether by altering it either in whole or in part, by 
 abandoning all jealoufy of France, and commencing a friendly in- 
 t^rcourfe and connedion with that countrj'^ ; or by emancipating our 
 American and Weft Indian colonies, we might not prevent fuch 
 enormous expences for the future, and be enabled honourably to dif- 
 charge the incumbrances we have already incurred. 
 
 1. Connec- The fituation of France has lately been reprefented to the world, in 
 France. ^ manner that is fufficient to imprefs the ftrongeft fentiments of jea- 
 
 loufy in the minds of its neighbours. We are told by a rainifter of 
 that country, who had every accefs to authentic information, that it 
 boafts twenty-fix millions of inhabitants ; that it poflefles above ninety 
 millions fterling of circulating fpecie ; and that the balance of com- 
 merce in its favour, is about three millions per aimiim. Allowing for 
 fome exaggeration, it cannot be doubted that France is poflelfed of 
 fuch population, induftry, and wealth, as render it not a little dan- 
 gerous ; and if it were to aim at new conquefts and frefli acquifi- 
 tions, it is to be hoped that a formidable confederacy would arife 
 againft it, fufficient to check its progrefs, and control its power. 
 But if, on the other hand, the court of France is fatisfied with the 
 territories which it enjoys, and is determined to perfevere in a pacific 
 fyftem ; if the humane and beneficent principles of a Necker, have 
 funk deep into the minds, and made a lafting impreffion on the 
 fovereign of that country and his minifters; if the court of Ver- 
 
 failles,
 
 OF THE BRITISH EMPIRE. loi 
 
 failles, inftead of being the fatal fource of intrigue and of war, is 
 anxious to prove itfelf the fpring of peace, and of happineis to 
 inankiud ; and if, as the prelude to that fyftem, it is defn-ous of en- 
 tering into a clofe and intimate connedlion with the crown and people 
 of Great Britain, undoubtedly there are terms on which fuch an inter- 
 courfe may be fafely concluded™. 
 
 As the firft ftep to remove that rancorous jealoufy which fubfifts 
 between the two countries, it would be neceflary to conclude a treaty 
 of commerce and alliance on terms mutually advantageous \ Such 
 a treaty, founded upon liberal principles, would contribute to augment 
 the wealth and increafe the profperity of both ; and would fooa 
 abate, if not totally remove, the enmity that fubfifts between them. 
 
 It fhould be an indifpenfible article of fuch an agreement, that the 
 two contracting parties fhould guarantee to each other the pofTefTions 
 they now enjoy, in whatever part of the world they may be fituated, 
 and fhould afTifl each other in defending fuch pofiefhons, if attacked : 
 and perhaps it ought to be underftood, that in future Great Britain 
 ■was to be the preponderating power in the Eaft, and France in the 
 Weft Indies. Indeed were our Weft India iflands (Jamaica alone ex- 
 cepted) exchanged for the French poflefrions in the eaft, both nations 
 might find it for their advantage. 
 
 Laftly, in order to remove all caufe for jealoufy, it might be proper 
 to enter into diftindl ftipulations in regard to the fleets and armies they 
 are reciprocally to maintain. A fuperior force by land is neceflary 
 for a continental power like France ; but that it fhould keep up an 
 inferior navy, is an article that cannot be difpenfed with. Britain is 
 not fafe in the neighbourhood of fo warlike and fo powerful a nation, 
 if it is not miftrefs of the feas ; and unlefs France will affent to the 
 juftice of this principle, a connexion with that country muft be avoided, 
 as dangerous in the extreme". 
 
 ™ Monfieur de Calonne, and the Comte de Mirabeau, have lately inculcated the advan- 
 tages of fuch a connexion between France and England, with great ability. 
 
 " The reader will pleafe to remark that this was written anno 1785. 
 
 " If the port of Cherburgh is not annihilated, and the navy of France reftriiSed to thirty 
 fail of the line, and a proportional number of frigates, the friendfiiip of that country is not 
 to be depended upon. 
 
 Such
 
 (ten. 
 
 102 HISTORY OF THE PUBLIC REVENUE 
 
 Such are the terms which ought to be kept in view, whenever an 
 alliance between the two countries, of a permanent nature, is pro- 
 pofed. 
 2. General Every one muft perceive, from the preceding; obfervations, that to 
 
 colonial . '' , • • o_- • i ?• 
 
 emancipa- enter nito a late and intimate connection with rrance, is a matter at- 
 tended with many difficulties; that many obftacles muft be removed, 
 and many prejudices got the better of: and as the greater part of our 
 paft expences has been owing to our colonial pofleffions in the Weft 
 Indies, and in North America, which never yielded a revenue to 
 compenfate for the charges which they have occafioned ; and as 
 a war might always be carried on by this country, without much 
 difficulty or expence, unlefs it became burdenfome by providing for 
 their protection, it is proper to confider, if the preceding fyftem is 
 found impracticable, whether it would not be politic to propofe to the 
 different nations of Europe, and to the new ftates of North America, 
 a general colonial emancipation ^. 
 
 Such a meafure, it is evident, would prevent the enormous ex- 
 pences to which, in the courfe of future wars, this country will 
 otherwife be fubjeCt for the prefervation of its colonies. Perhaps the 
 very next war may fee thofe colonies torn from us ; and in the very act 
 of lofing them, we may add millions to our debts. Nay, if they are 
 preferved, they v/ill coft us more in the courfe of a iuigle war, than 
 all the advantages to be drawn from them will ever compenfate. 
 
 But a faving of expence is not the only circumftance to be con- 
 fidered. If the French, the Portuguefe, and Spanifh fettlements were 
 emancipated, as well as ours, from the monopolifing fpirit and re- 
 ftridive regulations of the countries to which they belong, an un- 
 bounded tide of wealth and commerce would flow into this country : 
 our prefent burdens would then feem light and eafy, and we fhould be 
 enabled to difcharge, with little difficulty, no inconiiderable part of 
 them. 
 
 Were this country convinced of the advantages of fuch a meafure, 
 it would not be- difficult, with any tolerable management, to form a 
 
 P The author fuggefted this plan, in a little traft printed ann* 1783, intitled La Crife de 
 I'Europe. h was publiflied in the French language, to make it more generally known on 
 the continent. ' 
 
 1 2 confederacy
 
 OF THE BRITISH EMPIRE. 103 
 
 confederacy fufficlently ftrong to bring about fuch an emancipation, 
 with little hazard or expence. 
 
 The weakeft and moft unflcllful politicians muft: perceive, that fince 
 the Britifh colonies have been fuccefsful in throwing off the yoke of • 
 their mother country, it is to the higheft degree dangerous to fuffer 
 one family, united by the clofeft ties, or more properly fpeaking, the 
 one branch dependant on and fubfervient to the other, to hold fo pre- 
 ponderating a weight and influence in the American hemifphere. 
 
 Neither could France nor Spain, with Any degree of reafon, com- 
 plain, ihould fuch a fyftem be enforced by the united efforts of Europe. 
 How can they juftly obje£t to the confirmation of South American 
 and Weft Indian independence ? they, who have Co liberally contri- 
 buted their affiftance to enable the Britifh colonies to eftablifli them- 
 felves as fovereign ftates. The fame natural rights and privileges 
 which they fupported in one part of America, every other diftrict, 
 and every other inhabitant of that continent, and of the iflands in its 
 neighbourhood, are equally intitled to ; and if it was not a generous 
 fpirit for proteding the oppreffed, but a mean and contemptible jea- 
 loufy, or a defire of avenging ancient injuries, by which they were 
 a£luated, and which made them refolve to take advantage of the 
 difficulties in which a neighbour was involved, with whom they were 
 at peace, for whom the greateft friendfhip was profeffed, whofe pof- 
 feffions in thofe parts they have guaranteed, and whom they were 
 bound indeed not to oppofe, but to affift : how can they imagine that ■ 
 the other nations of Europe are not intitled to adopt the fame line of 
 condu£t towards them, for whom they have reafon to entertain a ftill 
 higher degree of jealoufy ; from whom every one of them has re- 
 ceived, either in former times or recently, ftill greater and more 
 fenfible injuries, and whofe fubjedts pant for freedom, and an ex- 
 emption from their yoke ? 
 
 Every art will undoubtedly be made ufe of by the partizans of 
 the houfe of Bourbon, to prevent any ideas of this nature from being 
 attended to by the different powers of Europe. France in particular 
 has long boafted of the dexterity with which fhe enters into the 
 counfels of her neighbours, and renders their condu£l fubfen'ient to 
 her views. On this occafion, w^hen a plan is propofed that would at 
 
 once
 
 ,04 HISTORY OF THE PUBLIC REVENUE 
 
 once put an end to the mofl: valuable branch of her commerce, and 
 the principal fource of her wealth", every artifice will be ufed to ri- 
 dicule it as vifionary, to pronounce it impracfticable to execute, and to 
 load it with a thoufand other objedions, which defpairing ambition 
 will invent. 
 
 With regard to Spain, it is much to be wondered at, that the In- 
 dignation and refentment of Europe has not long, ere now, burfl: 
 forth againft that imperious country. The feelings of mankind mud 
 be callous indeed, to have fuffered the mofl: fertile and valuable pro- 
 vinces in the world to be fo long fubjeded to her ftern and detefl:ablc 
 domination. With what indignation ought not every nation to be 
 filled, by the arrogant claims of a fingle monarchy pretending to 
 engrofs fuch an extent of empire, and to prohibit every other nation 
 in Europe from approaching its fhores ! Had it not been for its op- 
 prefTions and mifgovernment, what myriads of new inhabitants might 
 not have been flourifhing at this time in thofe diftant regions ; and 
 how much would not the enjoyments of Europe have been increafed 
 by an intercourfe with them ! It is full time therefore that its tyran- 
 nical fyfliem of oppreffion fhould be aboliflied, and that its colonies 
 fiiould at lafl: tafl;e fome fliare of liberty and good fortune^ 
 
 But it is furely unnecefiary to dwell longer upon this fubjed!!:, or to 
 point out the advantages which Europe in general would receive, were 
 fuch an important alteration to take place in the fituation and circum- 
 ftances of the mofl; fertile and valuable provinces which the world 
 contains. My breafl: glows at the idea, that a time may poflibly foon 
 arrive when the fhips of Denmark, of Sweden, and of Ruffia, of 
 Holland, of Auftria, of France itfelf, and of Great Britain, fhall no 
 longer be debarred from failing to the coafts of Chili and of Peru, or 
 be precluded by any proud monopolifl: from exchanging the commo- 
 dities of Europe for the riches of America ; and when every fliate, in 
 proportion to the fertility of its foil, and to the induftry of its inha- 
 bitants, may be certain of procuring all the neceflaries and the con- 
 veniences of life. With fuch a new and extenfive field opened to the 
 
 t According to M. Neclcer, France exports above three millions flerling per annum, in 
 commodities the produce of herWeftlndia iflands ; and the lofs of thofe pofTeflioas would 
 turn the balance of commerce confiderably againft her. 
 
 exertions
 
 OF THE BRITISH EMPIRE. ,05 
 
 exertions of mankind, what dlfcoveries might not be expedled, what 
 talents might not break forth ; to what a height would not every art 
 and fcience be carried ? The mind of a philanthropift rauft be over- 
 powered with the magnitude and importance of the ideas which 
 prefent themfelves to his view; when he can figure for a moment, 
 mankind united together by mutual intereft, and bound by the ties of 
 commercial intercourfe, to promote the general happlnefs of the 
 fpecies. 
 
 Part III.
 
 ,o6 HISTORY OF THE PUBLIC REVENUE 
 
 CHAP. III. 
 
 Of the prefent State of the public Revenue^ and of the 
 'differe?2t Bra7iches of which it cojiffs. 
 
 THE taxes levied in this country at prefent are either temporary 
 or perpetual. The firft are annually voted by parliament : 
 the fecond, having been granted in perpetuity, may be legally exacted 
 until annulled by the legiflature. Previoufly to the revolution, the 
 people of this country had been accuftomed to give only occafional 
 aids to the fovereign in times of difficulty and w&r. The fame fyftem 
 it was imagined would have been perfevered in after that event took 
 place. Little was it apprehended, that fo many perpetual taxes would 
 have been neceflary; and far lefs that the land and malt taxes, though 
 annually voted, would ever have become in fome meaiure a part of 
 the permanent income of the crown, 
 
 1. TEMPORARY TAXES. 
 
 The only temporary taxes exifting at prefent are thofe on land and 
 malt. 
 J. Land-tax. That branch of the revenue, now known under the name of the 
 land-tax, originated, as has already been obferved, from thofe monthly 
 aflefTments firft impofed in the time of the commonwealth. They 
 were likewife occafionally levied in the reign of Charles II. ; and when 
 it became neceffary after the revolution to raife confiderable fums of 
 money in order to maintain William III. upon the throne, and to 
 carry on the war again ft France, this fource of national income, being 
 deemed peculiarly productive and efficient, was continued. 
 
 The prefent land-tax, though unqueftionably a moft important 
 branch of the revenue, is neverthelefs liable to fome obje(Sions. 
 
 It
 
 OF THE BRITISH EMPIRE. 107 
 
 Tt was originally intended merely as a temporary regulation ; but It 
 has continued, fo far as regards the rate impofed upon each diflricft, 
 uniformly the fame. So that in places which, from various circum- 
 ftances, have rlfen to a flourifhing ftate (for inftance the parifh of 
 Marybone in London), when- the tax is at the rate of four (hillings in 
 the pound, the inhabitants do not pay perhaps fixpence. Whereas in 
 other diftrids, which have not been equally profperous, when the tax 
 is at four fhillings, perhaps fix fliillings is demanded by the col- 
 leilor. 
 
 Nay, the tax is not only now unequal, but was fo from the begin- 
 ning ; every city and county being in a great meafure allowed to affefs 
 itfelf, without any check or control upon their proceedings. Hence 
 thofe who wifhed well to the revolution, and the government that 
 was then eftabliihed, gave in a fair ftate of the property they poflefled ; 
 whilft others were happy to fhow their zeal for the exiled family, and 
 to gratify their felfifhnefs at the fame time, by reducing their income to 
 as low a rate as could poflibly be ftated. 
 
 The land-tax, as It is now called, was alfo originally intended to be a 
 tax upon income, whether it proceeded from land, or from profeflional 
 profits. But inflead of taxing the real profits of profeffional men, 
 the duty was impofed on their flocks in trade only : a regulation in 
 the higheft degree unequal, as fome profefFions are very produdlve 
 where little flock is required ; whereas others with a great flock are 
 far from being lucrative. Attempts have been frultlefsly made to re- 
 medy fo great a fource of inequality'. 
 
 As it was propofed to lay a tax of four fhillings In the pound on 
 the Income of every individual; It was thought very abfurd to exempt 
 thofe from the tax, who, by the offices they held, enjoyed their Income 
 from the public. But this well-defigned regulation, from the manner 
 in which it has been executed, has been another fource of Inequality. 
 For the advantage arlfing from the tax on public officers has been 
 given, not to the nation at large, but to the particular place In which 
 they are fituated. This Is a circumflance peculiarly favourable to the 
 capital, the great emporium of office, and to other diflrlds, partlcu- 
 
 ' See part iii. chap. i. p. i8. 
 
 P 3 larly
 
 io3 HISTORY OF THE PUBLIC REVENUE 
 
 larly Chefliire, where there are now many officers In the fait depart- 
 ment, a duty that did not exift at the revolution. Nay, it- is attended 
 with an additional unfortunate circumftance : for when the falary of 
 the officer is fmall, though he mufl: pay the land-tax duty of four 
 lliiHings in the pound, yet, in fome cafes, he is repaid that very duty 
 cut of the revenue of the department to which he belongs. Thus 
 the public treafury relieves diftrids from the payment of certain 
 taxes which they were not only bound, but, which it is more than 
 probable, they were able to defray. 
 
 But the circumftance the moft to be regretted is, that though the 
 land-tax is fuppofed to produce, at the rate of four fhillings in the 
 pound, a certain income of 1,989,673/. 'js. lo^d. for England, and 
 47,954/. IX. 2^. for Scotland, making in all 2,037,627/. 9/. Q\d. yet 
 it is uniformly deficient. 
 
 The following fums were voted by parliament as the deficiency of 
 this tax for the refpeclive years under mentioned : 
 
 Deficiency of the land-tax for the fervice 
 
 of the year 1782 - - jC 231,772 4 84. 
 
 Ditto 1783 - - 2>^:>^^'^S 5 10? 
 
 Ditto 1784 - - 239,730 7 4 
 
 Ditto 1785 - - 169,359 I 2i- 
 
 943,986 19 oi 
 
 Average jC 235,746 14 9 
 
 Hence it appears that the deficiency Is very confiderable, though 
 varying every year according to the regularity with which the tax is 
 colleded, and the amount of the different charges to which it is 
 liable. 
 
 The caufes of this deficiency are next to be explained. 
 
 The expence of the coUedion in England (for Scotland muft pay 
 its proportion free of all charges into the exchequer) muft firft be de- 
 duced. 
 
 The
 
 OF THE BRITISH EMPIRE. toj^ 
 
 The net poundage is as follows : 
 
 Colledors 3^. /^r pound on 1,989,673/. - ;^ 24,870 
 
 Clerks at i-i^. ditto on ditto - - i2>435 
 
 Receivers poundage on the balance, after deducting the 
 
 above fum, or id. in the pound, on 1,952,368/. 16,269 
 
 Thus the expence of coUedion cannot be complained of, as it is 
 below even three per ceut. 
 
 There is alfo allowed, under the name of conduit money, a fum of 
 about 1,260/. per annum to the receivers of the land-tax in Wales, who 
 complain of the great difficulty which they find in remitting the money 
 to London. 
 
 The only part of England v>'hich claims any relief from this tax Is, 
 the borough of Lyme Regis in Dorfet ; to which a deduilion of 
 140/. 19X. 6d. is annually granted by the treafury, on the footing that 
 the lands on v.-hich that fum was afielled have been waflied away by 
 the fca. 
 
 Before the land-tax is paid into the exchequer, the expence of the 
 militia, and of apprehending deferters from the army, and conveying 
 them to fome place of fecurity, falls alfo to be deduded, which was 
 calculated by the committee of finance at 91,000/. per annum; but 
 which, by the eflimates for the years 1787 and 17S8, amounts to 
 416,137/. 
 
 By 21 Geo. III. cap. ^'^. claufc 8. the bounties payable for the en- 
 couragement of raifing hemp and flax in England, arc direded to be 
 paid by the receivers of the land-tax in the feveral counties within 
 which the fame has been raifed. This may occafion a dedudion of 
 from 10 to I ^^000 1, per annum. 
 
 But the principal caufe of the deficiency of the land-tax is, the 
 pradlce, which has arifen from the public neceffities, of empowering 
 government to borrow two millions upon the credit of the tax as foon 
 as it is voted. Exchequer bills are ilfued for that purpofe, upon the 
 
 fecurity
 
 lia HISTORY OF THE PUBLIC REVENUE 
 
 fecurity of which the bank advances the money, which is gradually 
 paid off, as the produce of the tax is tranfmitted to the treafury. 
 The intereft paid by the public on the exchequer bills thus Iffued ftill. 
 continues at the rate of 4^ per ce?it. though at the accefTion of his 
 prefent majefty, which was a period of war, 4 per cent, only was 
 allowed, and we have now enjoyed the bleflings of peace for above 
 fix years. At ^l per cent, the intereft of 2,000,000/. would amount 
 to 90,000/. The eftimate, as ftated by the committee of finance, oa 
 the fuppofition that the intereft might be reduced as low as 3 per cent, 
 amounts only to 60,000/. We fliall ftate it however at the medium 
 rate of 75,000/. This fum, and the poundage, are the only deduc- 
 tions which ought properly to be made from the grofs produce of the 
 land-tax, as the other articles either ought not to be allowed, or are 
 neceflary expences which, if not paid out of the produce of the land- 
 tax, muft be otherwife provided for. The net produce of the land-tax 
 is then as follows : 
 
 Grofs produce - - - ^ 2,037,627 
 
 Expence of colledion - £ 53>574 
 
 Intereft of loan - - 75}OOo 
 
 ". 128,574 
 
 £ 1,909,053 
 
 Or at an average, when the money is regularly colledled and tranf- 
 mitted to the treafury, and confequently lefs intereft is paid to the bank, 
 about 1 ,9 1 0,000 /. per annum. Sometimes however (as in the years 
 ending Michaelmas 1 788), when any arrears of former taxes are paid up, 
 it may bring in about 1,950,000/. 
 
 It is proper however to mention, that on fome occafions veiy con- 
 fiderable fums of money are due by the public on exchequer bills 
 ftanding out undifcharged, which muft occafionally render the amount 
 of the intereft ftill higher : and that large fums unneceffarily detained 
 in the hands of the different receivers, are fometimes loft by their failure 
 and bankruptcy. 
 
 From the report of the committee of finance (appointed onno 1782) 
 it appeared, that there remained of undifcharged exchequer bills, on 
 
 various
 
 OF THE BRITISH EMPIRE. in 
 
 various land taxes, to the amount of 3,595,988/. This was a very 
 great anticipation indeed of this branch of our refources. 
 
 It appears from the firft report of the commiflioners of public ac- 
 counts, that the average fum in the hands of the different receivers 
 was 334,061/. which at an intereft of only /\. per cent, amounted to 
 13,362/. per minum^ whicli the public lofl by being deprived of the ufe 
 of its own money. 
 
 The lofs fuftained by the bankruptcies of various receivers Is alfo 
 confiderable. From the revolution to 1779, the arrears for which 
 proceedings were obliged to be taken to compel payment amounted to 
 .171,703/'. The fum within thefe laft ten years amounts to 86,909/. 
 making in all 258,612/. the greater part of which will probably never 
 be recovered. Such lofles might be prevented in future, if proper at- 
 tention were paid to the fecurity given by the receivers; if by 
 defraying the expence of the militia, and of the bounties above 
 mentioned from fome other fund, no apology was given for any 
 detention of the public money ; and if the bank. were to undertake the 
 remittance of the money, upon the payment of a certain moderate 
 poundage from the receivers. 
 
 But fome have fuggefted, that inftead of attempting to improve the Equalization 
 prefent land-tax, or to make any partial regulations refpeding it, it ^^ ''^^^ '^^^^' 
 would be better to have a new valuation, and to levy an equal rate 
 ■over the whole illand. Unfortunately, the treaty of union with Scot- 
 land is in a great degree an infuperable bar (unlcfs the confent of 
 that part of the kingdom could be obtained) to any propofition of this 
 nature, at lead to a general equalization of the land-tax ; and if 
 Scotland were to be exempted, the remote diftriifts of England would 
 have reafon to complain. So ufeful, however, would fuch a regula- 
 tion be, that it might be advifable to give to Scotland, for a renun- 
 •ciation of that (lipulation, fuch advantages in regard to the duties of 
 the cuftoms, as, by encouraging its trade, might prove ftill more be- 
 nelicial to that country. 
 
 But were this objedion removed, a propofal for aa equal land-tax 
 might not perhaps be perfedly relilhed by erery individual in England, 
 and might with fome appearance of juflice be objected to by thofe 
 
 ' Pariiamcntary Regiftcr, anno 1780, vol. i. p. 69. 
 
 who
 
 412 HISTORY OF THE PUBLIC REVENUE 
 
 who have lately purchafed eflates with an idea, that the faith of the 
 public was pledged to admit of no alteration in the rate of affeff- 
 ment. 
 
 This objedlion, however, will not ftand the teR of a ftrid examina- 
 tion. It is well known that parliament has never given any real 
 foundation for fuch an idea. On the contrary, by frequently varying 
 the amount of the tax from one to four Ihillings in the pound, it evi- 
 dently referved to itfelf a complete power over that important branch 
 of the national revenue. 
 
 Befides, this objedion can only be made by thofe who have recently 
 purchafed eftates, which upon a revaluation would be found liable to 
 an additional burden : and as every recent purchafe is not of that de- 
 fcription, the rule would not univerfally hold good. 
 
 Indeed, fuch is the evident juftice of the meafure, and the neceflity 
 of it has become fo very apparent, that perhaps any oppofition that is 
 apprehended to fuch a plan is more imaginary than real ; and a point 
 fo material to the general interefts of the country, might be gained 
 without much unpopularity or clamour, were the new aifefftnent not 
 to take effeO: immediately, but to commence at any future period ; 
 for inftance, the beginning of the enfuing century ; thus giving the 
 prefent proprietors above ten years of the advantage which they now 
 enjoy. 
 
 Others have recommended to leave the prefent land-tax as it is. Let It 
 be a perpetual rent-charge, they fay, at the rate of four fhillings, or 
 of two fhillings in the pound, and iropofe an additional fhilling uport 
 land in general on a new valuation. Even this plan, though lefs 
 exceptionable, is Hill hardly confiftent with the articles of the union. 
 
 If ever an equalization is brought about, it has been much dif- 
 puted at what time it fhould be carried into execution, and how long 
 it ought to remain unaltered. To continue a tax on landed property 
 at one rate for forae time, is undoubtedly not a little favourable to 
 agriculture ; and to that circumftance the great improvement of Eng- 
 land is partly owing. For furcly if individuals are obliged to pay for 
 having, at a great expence, made fome addition to their annual in- 
 come, the prudent and the cautious, who are the mod likely to im- 
 prove and better their eftates, will not be very apt to expend their 
 8 money
 
 OF THE BRITISH EMPIRE. 1,3 
 
 money In a manner, fo \inprofitable. Some admirable ideas have been 
 thrown out upon that fubjedl:, by a modern political writer \ Per- 
 haps, on the whole, the beft plan would be, to have a new valuation 
 -every fifty years ; to allow dedutSlions where the rents had really 
 fallen; and where they had rifen, in confequence of real and ex- 
 penfive improvements, to lay a tax on only one-half of the addi- 
 tional income'for a certain number of years. It would not be difficult 
 to form a plan upon fuch principles, that might be produdlve of the 
 happieft confequences. 
 
 • It would be improper to quit this fubjeft, without mentioning an Of a iand<^i 
 idea which fome have contended for ; namely, that as the real in- '**^''"*- 
 come of every country originates from the land, all taxes therefore 
 fhould be at once impofed on that fpecies of property. The faying of 
 Artaxerxes, an ancient king of Perfia, is recorded by a great hiftorian 
 as difcQvering .a deep infight into the conftitution of government: 
 *' The authority of the prince," he fald, " muft be defended by a 
 ** military force, that force can only be maintained by taxes, and all 
 *' taxes muft at laft fall upon agriculture"." The fame fentiment has 
 fmce been enforced by Locke, with his ufual force of reafonlng, 
 and has lately been revived ^a France, and maintained by feveral in- 
 genious men. ■ '. :, ;i , - 
 
 Notwithftanding fuch great and refpedable authorities, both of 
 pradlcal and theoretical ftatefmen, the fallacy of fuch a pofition can 
 no longer be queftioned. In an inland country like Perfia, or in a ftate 
 where induftry dpes not flourifli, as was the cafe even in England, 
 previoufly to the revolution, fuch an idea may, to a certain degree, be 
 ■well founded. But it can hardly be diiputed, that the manufadurer, 
 who by his labour improves the value of the produdions of the foil, 
 and hence procures a fubfiftence for himfelf and family, and the 
 merchant who raifes an Income from the profits of exporting thofc 
 commodities to other nations, depend for their means of livelihood, not 
 upon the produce of the land, but upon tlie profits of their labour ; 
 and from thofe profits alone are enabled to pay their taxes to the 
 public. Indeed, were it admitted (though it can hardly be ferioufiy 
 
 ' See Smith's Wealth of Nations, vol. ii. p. 416. ' Gibbon's Hiftory, vol. i, 
 
 p. 215. 
 
 PA'RT III, Q^ main-
 
 114 HISTORY OF THE PUBLIC REVENUE 
 
 maintained in a commercial country) that the whole income of the 
 nation arofe from the cultivation of the foil, yet ftill by impofing 
 duties upon confumption, a greater reVenii'e 'may be raifed than by a 
 dire£t tax upon land. By the latter methb'd you only tax the pro- 
 prietor of the foil, who has only a certain portion of the produce, and 
 a confiderable part of which is neceffarily takea from him for the fub- 
 fiftence of others. Whereas by the former method, the public fhares 
 in the profits of thofe individuals who derive, any benefit from the foil 
 by any means, whether diredlly or indiredly. And hence, whilft 
 the tax of four lliillings in the pound on land is feverely felt by many 
 individuals in England, though it yields only two inillions/>f/* a;//////7?i 
 .1 tax on barley, in all its various ftages of confumption, to the 
 amount of above three millions and a half, is levied: without 
 murmur \ 
 
 Another theory of irearljr thtifame nature,' it may be 'proper briefly 
 to mention. ' ra 'VJ>i-l ad ,.. , 
 
 ' By the principles of the feudal' fyfterii, the holders and poffeflbrs of 
 land claimed an exemption ■ from all pecuniary taxes^ being bound to 
 perfonaf fervices in wai-, and obliged to appear when called upouj 
 either to oppofe or to atthclc'the'tniemies'of their country. A modern 
 author has, with great ingenuity, reverfcd this propofition, and con- 
 tends, that as- the land-holdidrs are' no longer rhe defenders of the 
 ftate, and if they appear in- 'that capacity,' are paid for their fervicea 
 like others, they ought therefore to be accounted an uncjfential clafi 
 in the community, and that the whoJe pecuniary burdens ought to ba 
 impofed upon them^ '" ' ' ' "^- -'-■ '' -ii'--;-'i '''j-. j::i oj , , 
 
 There is undoubtedly much' pl'au'funliity in th'ft Mea. Such expences, 
 it is true, as are neceffary to defend our foreign commerce, and the 
 
 * This fubjeft would have required a fuller difcuffion, had not- NJ. Nicker, in his 
 treatife on the adminiflration of the finances of France, vol. i. chap. 6. proved the 
 utter impra<Sicability of converting all the taxes of that country into one land-tax, and 
 afligned reafons for it, applicable to every nation, and which cannot be overturned. 
 
 y See a plan for finally fettling the government of Ireland upon conftitutional prin- 
 ciples. Printed for Stockdale, anno 1785; written by John Gray, Lfq. Perhaps the 
 time will foon come when either the landed or the monied intereft muft be facrificed ; in 
 which event it is not difficult to forefee who will be confidercd the unejfential dafs in this 
 commercial country. 
 
 , fettlements
 
 OF THE BRITISH EMPIRE. U5 
 
 fettlements conneded with it; that commerce ought to defray, fmce 
 thofe by whom our trade is carried on, are principally benefited by it. 
 But nothing would be more politic than to inftil it into our pofleflbrs 
 of land, that they are the natural defenders of the country at home ; 
 that it is ueceflary for them to acquire a knowledge in the art of war, 
 and to encourage a military fpirit ; and that if they become languid 
 and effeminate, and abandon the pofts which it is their duty to 
 maintain, they will be an unneceflary and ufelefs clafs, and ought 
 alone to defray thofe public charges which their own deficiency may 
 occafion. 
 
 The revolution had taken place fome time, and the public had ex- 2. Malt-tax. 
 perienced the greateft difficulties in raifing the fupplies, before par- 
 liament could be prevailed upon to impofe a duty upon malt ; together 
 with a proportionable rate on cyder and perry, and other liquors, the 
 ufe of which might diminifn the confumption of that article.' 
 
 It was firft granted anno 1697'', and it was always fuppofed would 
 be only a temporary impart. By the treaty of union with Scotland', 
 it was agreed, that during the continuance of the duty on malt, which 
 then exifted in England (but which expired on the 4th of June 1 707), 
 Scotland iliould not be charged with it. Indeed that country was not 
 included in the malt adl until the year 1713, and even then it was 
 thought advifable for government to aflumc a fort of difpenfing 
 power, and to give diredions that it fhould not be levied. Nay, the 
 Scots were fo irapreffed with an idea that they were in a manner for 
 ever exempted from fuch a duty, by the treaty of union, that when 
 the tax was firft enforced in that country, anno 1725, it occafioned 
 confiderable riots, which were with difficulty fupprefled. 
 
 The income of this tax for England alone, exclufively of Scotland, 
 at the rate of 6(/. /xrr bufhel, was originally calculated at 750,000/. 
 a-year, a fum which, it appears from the following ftatement, was far 
 from 'being exaggerated : 
 
 * By 8 and 9 Will. Ill, cap. 22. » Art. xiii. 
 
 0^2 Malt
 
 liS HISTORY OF THE PUBLIC REVENUE 
 
 Malt duty from Midfummer 1716 to Midfummer 
 
 
 1717 
 
 £ 706,691 
 
 1718 
 
 763,980 
 
 1719 
 
 710,979 
 
 J 720 
 
 744,828 
 
 1721 
 
 ^l<-^75^ 
 
 172a 
 
 757.339 
 
 1723 
 
 867,977 
 
 1724 
 
 8 ",559 
 
 Total ;^ 6,040,117 
 
 Thefe are perhaps as favourable years in point of produce as any 
 that can be mentioned, for the average amounts to no lefs a fiim than 
 755,014/. per on?ium. Of late, however, in confequence of the ad- 
 ditional duties which have been laid upon malt, joined to the great 
 load of other taxes with which the country is burdened, the annual 
 malt-tax has proved uniformly deficient. 
 
 The amount of thefe deficiencies for three years, ending 1785, as 
 voted by parliament, is as follows '' : 
 
 Deficiency of the malt-tax, granted for the 
 
 the fervice of the year 17S3 - £ 189,309 15 o 
 
 Ditto 1784 - 169,675 17 4L 
 
 Ditto 1785 - 267,938 1 22. 
 
 626,923 14 7 
 
 £ 208,974 o o 
 
 The -grofs produce being annually given for 750,000/. and the 
 average deficiency being thus nearly 210,000/. the net produce during 
 thele years catinot well be calculated at more than 540,000/. per 
 amium. 
 
 * The year 1782 is not taken into this account, as it was fo uncommonly deficient, 
 from the unprodudtivenefs of the preceding feafon. 
 
 The
 
 OF THE BRITISH EMPIRE. 117 
 
 The following account has been given of the produce of the annual 
 malt-tax in England for the year 1786, and the dedudions there- 
 from : , , 
 
 ^575,834 18 4,1 
 
 Grofs produce 
 
 - 
 
 
 " 
 
 
 Salaries 
 
 £, 
 
 55.9S7 
 
 6 
 
 10^ 
 
 Riding charges 
 
 
 2,656 
 
 9 
 
 3t 
 
 Incidents 
 
 
 6,901 
 
 17 
 
 IIt 
 
 Fees and charges 
 
 - 
 
 204 
 
 17 
 
 4 
 
 Rent for excife office 
 
 £ 
 
 32 
 
 
 
 
 
 
 ^3^7 5^ 
 
 II 
 
 4^ 
 
 Taxes 
 
 
 8,450 
 
 15 
 
 9:- 
 
 Allowances 
 
 
 808 
 
 9 
 
 10.- 
 
 Drawbacks 
 
 
 286 
 
 10 
 
 4 
 
 Overcharges - 
 
 
 3^7 
 
 16 
 
 3 
 
 75,606 3 8 
 
 ^500,228 14 81. 
 
 It Is fatisfadory however to find that this, like every other branch 
 of the revenue, has fince become more produdive ; for in two years, 
 ending Michaelmas 1788, it yielded net into the exchequer 1,216,563/. 
 or at the rate of 608,28 1 /. per arifii/m. It Is hoped therefore that the 
 deficiency for the future, if the feafons iliould be favourable, will not 
 exceed 150,000/. />fr annrim^ 42,000/. of which may be ftated to the 
 account of the intereft paid on the exchequer bills iiTued on the crcdii: 
 of the tax. Thus, if the land-tax produces at an average about 
 1,900,000/. and the tax on mak (even in a favourable view) only 
 about 600,000/. thefe temporary taxes ought not to be ftated at more 
 than 2,500,000/. nor ought the treafury be permitted to iffue ex- 
 chequer bills to a greater amount, until they become more efficient. 
 
 2. P E R P E T U A L T A X E S. 
 
 For fome years after the revolution, when any duty was laid on, it 
 
 ■was only granted until the money borrowed upon, the credit of the tax 
 
 ■ 1 1 was
 
 it8 HISTORY OV THE PUBLIC REVENUE 
 
 ■was paid off, and then it ceafcd of courfe. About the year 1710 a 
 very different lyflem was adopted : perpetual taxes were impofed, and 
 the duty was continued, though the loan borrowed fhould be repaid. 
 The furplufes, it is true, were referved for the difpofal of parliament ; 
 but in a conflitutional view, that is far from being a fufficient check. 
 The crown being thus legally inverted with the power of drawing 
 . money from the property of its fuhjeds, when once that money is 
 placed in the exchequer, there muft be much lefs difficulty in pre- 
 vailing upon parliament to agree to any mode of expenditure which 
 the fovereign may incline to prefer, or to lay it out without the confent 
 of that afleuibly if it fliould prove refra£lory^ 
 
 The perpetual taxes now levied in this country, may be confidered 
 under four general heads : — i. Cufloras. — 2. Excife. — 3. Stamp duties. 
 — ,|. Mifcellaneous taxes. 
 t. Cufloras. It is the opinion of many able men, that the impofing of duties 
 upon the importation or exportation of goods, is incompatible with the 
 real interefts of a commercial country. Where fuch a fyftem is 
 adopted, a great increafe of capital becomes neceffary ; becaufe the 
 merchant muft advance the duty immediately on the goods being 
 landed, which in fa£l is locking up fo much of his ftock that would 
 otherwife be employed in trade, until he is reimburfed. Befidcs, he 
 confiders iiimfclf asintitled to charge in the price of the commodity not 
 only the tax itfelf, but alfo a commercial profit thereon, which in- 
 ereafes in all the various hands through which it pafles, until the com- 
 modity arrives at the ultimate ftage of confumption, whereby thefe 
 accumulated profits on the tax often exceed the amount of the tax 
 rtfelf. This is a ftrong argument for levying all duties as near the 
 ftage of confumption as may be found confiftent with the fafety of the 
 revenue. The great trade which is carried on by the Dutch, notwith- 
 ftanding many natural difadvantages, is not a little attributed to the- 
 inconfiderable duties that are levied at their ports. It is farther to be 
 obierved that high duties, by holding out a premium to the clandeftine 
 trader, encourage fmuggling, with all its pernicious confequences. 
 At the fame time it is fo difficult to raife a great revenue upon prin- 
 ciples perfedlly unexceptionable, and mankind are fo apt to confider taxes 
 
 ■= Hiflory of our National Debts, part iv. p. 8, 9. 
 
 levied
 
 OF THE BRITISH EMPIRE. 119 
 
 levied on confumption as a part of the price, and confequently no tax 
 at all, that I am not furprifed to find that in almofl: every country fuch 
 duties have exlfted. 
 
 The cuftoms may be divided into three branches; cuftoms on goods Coflomson 
 imported, exported, or carried coaftways. ^orted™ 
 
 Duties on goods imported into a country were originally impofed 
 upon the fubjeds of the realm, under the pretence of defraying the 
 charges of guarding the coafts from pirates ; and upon foreign mer- 
 chants, for the liberty given them by the fovereign, of trading in his 
 dominions. 
 
 Of all the branches of the cuftoms, this is unqueftionably the leaft 
 exceptionable. The duties, however, jfhould be at fo low a rate as to 
 difcourage, if not totally prevent, all contraband trade; and taxes upon 
 articles neceffary for the manufadures of the country, or raw materials, 
 the value cf which may be greatly improved by the labour of the 
 people, ought to be avoided. 
 
 "Were it poffible, confiftently with the interefts of the revenue, to 
 carry thefe principles into pra(llice in this country, the commerce of 
 Great Britai^i would foon receive very material additions. 
 
 Formerly duties were impofed on tlie exportation of almoft every Cufloms on 
 commodity that was fent out of this country. It was fuppofed, that fuch S^^-^^ f"- 
 duties were not paid by the natives,, but came out of the pockets of 
 foreigners. Such ideas, however, are now exploded. Experience has 
 afcertained that foreign nations will not give beyond a certain price for 
 any commodity whatever, and that by taxing goods exported, you 
 either force them to give up the confumption, or to trade, with other 
 places for a fupply. 
 
 The principal tax of that nature ftill remaining- is the duty upon, 
 coals ; but fuch is the fuperior quality of that article in this countrv, 
 that it is fully able to bear it^ Indeed coals are fuch a neceffary of life,. 
 and though abundant, yet undoubtedly capable of being exhaufted,. 
 that inftead of a duty, fome have propofed a total prohibition of ex- 
 portation : a plan which mufi: be adopted, Ihould there ever arife the. 
 leaft. well-founded apprehenfions of a fcarcity of that commodity. 
 
 Lead:
 
 f20 HISTORY OF THE PUBLIC REVENUE 
 
 Lead exported, alio pays a duty of i/. ix. /)er ton" . It is not very 
 produdtive, amounting only to about 15,000/. per atmum. As lead 
 mines are in general found in waile and barren foils, which, were it not 
 for their mineral wealth, would be totally abandoned, it is quellionablc 
 how far fuch a duty ought to be continued. 
 
 The other taxes upon goods exported, are not liable to much ob- 
 jedion, being principally impofed on raw materials, and intended t© 
 give our manufacturers an advantage over jival pations iu theij: 
 refpedivc branches of induftry. 
 Cuftoms on Eut of all the Cuftom-houfe duties now exafted in Great Britain, iher^ 
 
 cuaitl'aT' is none fo truly exceptionable as that upon coals carried eoaftwaya; the 
 tax being equally injurious to the navigation and maritime flrength, to 
 the manufactures, the agriculture, and the fillierie^s of-tjhis country. ;^ 
 The coal trade, it is well known, is the beft nurfery for Brjtffli 
 •fean>en. Sailors bred up in that trade, can hardly be equalled .for 
 fkill, fpirit, and hardinefs in their profeflion. By taking off the duties 
 upon coals carried coaftways, an invaluable treafure of perhaps 10^06 
 feamen, would be added to the maritime force of the country. Nor 
 would the number ©f fliipwrights, necefiary for building the veflels, in 
 conl'equence of fuch an additional demand for {hipping, be an unim- 
 portant circumftance. 
 
 It is commonly remarked, that manufadures flourifli beft wherever 
 coals are the cheapeft and moft abundant. In fo cold a country as Great 
 Britain, fewel is a real neceffary of life, and is required in fabricating 
 almoft all our manufaiftures. Whilft this tax continues, the various 
 manufaduring advantages refulting from the cheapnefs of that article, 
 are confined to particular dillridts. Whereas, by abolifhing that duty, 
 all places would be more nearly on a footing; and hence induftry and 
 commerce would fpread over the whole face of the country. 
 
 Nor is the duty upon coals lefs pernicious to agriculture. It renders 
 it neceffary, in many parts of the kingdom, to dcvore confiderable 
 ,<juantities of improveable ground to rear wood for the piirpofe of firing. 
 And in thofe parts of the ifland, particularly in the more remote parts 
 .of Scotland, where peat and turf can be had, the fummer is not fpent 
 
 * By 24 Geo, III. cap. 49. 
 
 by
 
 . OT: T HE B:RI T I SHTEM-P t'K'K^ T ? I H t«. 
 
 by the farmer in procuring manure, in fallowing his fields, or in raifing 
 crops to enrich and fertilize the foil, but is principally wafted in col- 
 lediing firing for the winter feafoti. ■' ' Sfn yd 
 
 If any fet of men are entitled to public encourage^nt, furely thofc 
 who maintain themfelves by fifhing only, who 'procure a fubfiftence in a 
 manner fo truly precarious, who run fuch perpetual hazard of being 
 loft in the little boats in which they truft themielves, and who form a 
 fpecies of naval militia whofe fervices the public can at any time com- 
 mand, have by far the beft founded pretenfions; and of all the en- 
 couragements that could be given to them, that of enabling them to 
 fupply themfelves with firing at an eafy rate would perhaps be the 
 moft acceptable. _ Their whole labour might then be devoted to their 
 own profeffioa^^^g)M^_ would the miferable neceffity of procuring a 
 fcanty fupply of feml tempt them to wafte fd confiderable a portion 
 of their time in other "any occupation.' ^ "^- ^ '---"-'' 
 
 It is hoped that thefe confiderations will, fome time or other, occa- 
 fion a commutation of this duty, fince there is hardly any other tax 
 that could pofTibly prove eqtially detrimental; and as, without fomc 
 fubftitute, fo important a branch of the revenue,, producing above half 
 a million ^d'r ammyn^ cannot be difpenfed with% 
 
 The prefent Cuftom-houfe duties are principally levied either accord- Tonnage 
 ing to the fuppofed value of the different commodities conformably to "'^* 
 particular rates, or in proportion to the fize, weight, and meafure- 
 ment of the article. Some difference alfo is made in refpedt to the country 
 whence the goods are brought ; and advantages are given to the fhips 
 belonging to and manned by Britilh fubjeds, in preference to thofe of , 
 a different defcrlption. It has been propofed to abolifh all fuch duties, 
 and to levy the duty per ton, preferving always fome diftindion 
 between natives and aliens, and giving the former a preference. , So 
 great an alteration cannot be hazarded : but, perhaps, it might not be 
 impolitic to lay a tonnage duty to a certain extent, according to. the 
 place whence the veifel has arrived, and the cargo with which it is 
 loaded, and to levy the reft by a rate ad valorem. Such a regulation 
 
 ' When tbefe obfervations are confidered, it will hardly be credited, that in 1784 a tax 
 upon the inland confumption of coals of 3^. ^^r chalder, was propofed to parliament. 
 The plan was fortunately refitted and given up. 
 
 Part III. R might
 
 122 
 
 Amount of 
 the cuiloms. 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 might contribute to check fmuggling by diminiflimg the temptation, 
 as a tonnage duty could not well be evaded, as other duties are. 
 
 It was apprehended by many, that the various additional taxes that; 
 had been impofed, joined to the loffr of fo confiderable a part of the 
 Britifh dominions, would have occafioned a very great diminution ia 
 this branch of the revenue ; inftead of which it never was more pro- 
 dudtive; the grofs and nett produce from Michaelnxas 1787 to Mi- 
 chaelmas 1788 being as follows : 
 
 GENERAL VIEW of the GROSS PRODUCE of the CUSTOMS 
 from loth Odober 1787 to the loth O<5tober 1788, diftinguifliing 
 the Sum levied upon each feparate Article, fo far as the fame can be 
 afcertained. 
 
 Species of Goods» 
 
 
 
 Grofs produce, 
 
 Afhes (pearl and pot) 
 
 ». m 
 
 • 
 
 ^2,189= 
 
 Barilla 
 
 - 
 
 «»- 
 
 i9,63& 
 
 Brimftone 
 
 m m 
 
 - 
 
 9,804. 
 
 Briftles (undrefled) 
 
 m. ^ ^ 
 
 - 
 
 ^^5^ 
 
 Cork 
 
 - 
 
 - 
 
 4»739; 
 
 Drugs 
 
 ^ •» 
 
 - 
 
 ^5,69 1 
 
 Elephants teeth 
 
 - 
 
 - 
 
 2,464 
 
 Feathers for beds 
 
 - 
 
 - 
 
 4,267 
 
 Glafs plates - 
 
 - 
 
 - 
 
 4.517 
 
 Grocery 
 
 -■ 
 
 - 
 
 1333671' 
 
 Sugar 
 
 - 
 
 m 
 
 1,195,116. 
 
 Rice 
 
 - 
 
 - 
 
 8.791 
 
 Hair(htunan) - 
 
 ■*. •» 
 
 - 
 
 1,63a 
 
 Hats (chip) 
 
 » ••- 
 
 - 
 
 3»2.3o^ 
 
 — (ftraw) 
 
 - 
 
 « 
 
 961 
 
 Hemp 
 
 - 
 
 •w 
 
 74.439 
 
 Hides 
 
 - 
 
 - 
 
 1,726. 
 
 Kelp 
 
 - 
 
 - 
 
 2,788; 
 
 Incle (wrought) 
 
 ~ 
 
 - 
 
 3^^-^7 
 
 Iron (bar) 
 
 - 
 
 mt> 
 
 II 6,67 J 
 
 Lemons and oranges 
 
 Carried forward 
 
 A 
 
 12,414 
 
 
 ?i.6ii,Qza 
 
 • Whereof from coffee 11,762/. from currants 49,299/,
 
 OF THE BRITISH EMPIRE. jt 
 
 Species of Goods. 
 
 
 Grofs produce, 
 
 
 Brought forward 
 
 ^1,631,939 
 
 Linens 
 
 ... 
 
 118,113 
 
 Mats-(Rufria) 
 
 m m m 
 
 2,468 
 
 Mitts (finall) 
 
 - - - 
 
 2,396 
 
 Oils (ordinary, fallad, and 
 
 train) 
 
 22,829 
 
 Paper (Genoa fecond) 
 
 . - 
 
 1,187 
 
 Pitch and tar 
 
 . . . 
 
 1,864 
 
 Salt (white) 
 
 •■ m ■ ' ^ 
 
 808 
 
 Seeds (clover) 
 
 - 
 
 3.217 
 
 Silk (raw, thrown, and wrought) 
 
 125,738 
 
 Smalts 
 
 ^ M ■• 
 
 7.338 
 
 Spirits (brandy) 
 
 - . - 
 
 58.532 
 
 ■ (Geneva) 
 
 - - - 
 
 12,434 
 
 ■ (rum) 
 
 - - 
 
 60,835 
 
 Skins (raw, tanned, ^c.) 
 
 ■ - 
 
 24,485 
 
 Soap (hard) 
 
 * «• * 
 
 3,120 
 
 Tapes (open) 
 
 -mm m 
 
 928 
 
 Thread 
 
 . . . 
 
 1.895 
 
 Tobacco 
 
 - - - 
 
 427.285 
 
 Ditto (Brazil) 
 
 - 
 
 1.483 
 
 Tow 
 
 - 
 
 2,655 
 
 Turpentine 
 
 - 
 
 3.938 
 
 Wax (bees) 
 
 - 
 
 4,270 
 
 Wine (French) 
 
 - 
 
 37^^^^ 
 
 (Port) 
 
 - - - 
 
 352,504 
 
 (Rhenifh) 
 
 - 
 
 4.5^6 
 
 — — (Spanifh) 
 
 i« — 
 
 79.349 
 
 Wood 
 
 
 181,824 
 
 
 3.»75.o24 
 
 Cuftoms on tea (from the commutation tax) 
 
 335,047' 
 
 Duties paid by the India Company 
 
 326,450 
 
 Sundry fmall articles 
 
 - . • 
 
 10,191 
 
 Carried over ;i^3,846,7i2 
 
 ' Part of the commutation tax is very abfurdly remitted to the cuftoms, and the re- 
 mainder to ths excife ; thus wantonly adding to the confudon unavoidable in public ac« 
 
 counts of fuch enormous magnitude. 
 
 R 2
 
 134 HISTORY OF THE PUBLIC REVENUE 
 
 Brought over ;{' 3,846,71 2 
 
 'ISubfidks on goods e.^pdrted •''*"' - - 153,481 
 
 Coals carried coaftwife - " • ~ ^ ^36,287 
 
 Remittances from the Plantations " - -''^ ''*' 10,418 
 
 "> - /•', ' 
 
 ", ' - ' ■:^4>546,9i8 
 
 \ !,The nett produce was - ^ - 3,789,274 
 
 : ■ I ^ »■■■ ■■ ^ w 
 
 Total expence of bounties, drawbacks, and 
 
 charges of collection - - - - £757^^44 
 
 It is impoffible to read the preceding ftatement without being ftruck 
 with the variety of petty articles; as briftles, cork, feathers, human 
 hair, chip hats, lemons and oranges, mats, mitts, bees wax, tapes, 
 ^c. which, howeyer trifling in themfelves, yet produce a confiderable 
 revenue when iiccumulated together, exceeding 40,000/. ^^r a-w/zttw ; 
 and clearly proving that, in order to raife_a great income, the fmalleft 
 object mull not be overlooked. 
 
 It is alfo proper to remark, tha.t the mercantile principle of raifmg 
 every article within ourfelves we can either manufadure or produce, 
 is not perfedly compatible with the interefts of at lead this branch of 
 the revenue. For inftance, were all the linens, iron, and hemp we 
 confume, produced at home, which is far from being impradticable,. 
 our cuftoms would diminifh to the amount of above 300,000/. per 
 annu7n, and we might lofe the exportation of goods of equal value, in 
 which our countrymen are as beneficially employed as they would be in 
 any other mode. 
 
 Laftly, when the aftonifhing revenue raifed from fugar,^ groceries, 
 oik, fiik, tea, muflins, tobacco, wines, foreign fpirituous liquors^, 
 drugs, Ssff. is confidered, amounting to above three millions /><?/" ^/?«aw, 
 we cannot but perceive how much a nation is benefited by foreign com- 
 merce, which is not only the fource of induftry at home, in order to 
 produce the fitteft articles for foreign" markets, but which alfo furnlfhes 
 the means of raifing, without difficulty or complaint, a great income, 
 to be applied in any manner the beft calculated for the interefts of the 
 . nation. 
 
 / ^ The
 
 OF THE BRITISH EMPIRE. 
 
 liS 
 
 The learned commentator on the Laws of England (Sir W. Black- 2. Exclfe. 
 ftone) has given fo full, and at the fame time fo concife an account of 
 the origin and progrefs of the excife, and of the principles on which it 
 is founded, that it may be fufficient to refer the reader to his popular 
 and admirable work for information upon the fubje«£t. Notwithftand- 
 ing the p'laufible obje(flions that may be urged againft this tax, parti- 
 cularly on account of the incroachments which it neceflarily occafions 
 on the rights and liberties of no inconfiderable'body of the people ; yet 
 fmce the neceffrties of the ftate require a great revenue, it may be con- 
 fidered on the whole " as the moft eafy and indifferent levy that could 
 " be made upon the public '." Biat, as an explanation of the whole 
 fyftem of the excife laws, and the various regulations which they con- 
 tain, would require a volume of itfelf, it is propofed at prelent merely 
 to give an account of the fum which the excife produced for the year 
 ending at Michaelmas 1788, with fuch obfervations upon the different 
 branches of that revenue as occur in confequence of fuch a ftatement. 
 
 ACCOUNT of the DUTIES of EXCISE from Michaelmas 1787,, 
 
 to Michaelmas 1788. 
 
 Beer 
 
 Malt (perpetual) 
 Malt (annual) 
 Spirits (BritiOi) ^ 
 
 Mead and vinegar 
 Cyder and perry 
 Hops " 
 
 Total from barley 
 17,698 
 12,469 
 
 31,4/12 
 
 Net produce. 
 
 £ 1,666,153 
 724,786 
 603,317 
 509,167 
 
 3003.422^ 
 
 61,609- 
 
 Carried over £ 3,S^S^^2) ^ 
 
 f See Scobell, p. 72 and 453. 
 
 K The duty on fpirits diftiUed from melalTes,. which is included in this fum, is a mere 
 trifle, 
 •" In general this article produces about 70,000/. fer annum. 
 
 Excife
 
 tiS HISTORY OF THE PUBLIC REVENUE 
 
 Brought over £ 3,565,03 1 
 
 Exclfe on foreign fplrits - £735i°3^ 
 
 Excife on wine - - 229,212 
 
 Sweets, or home-made wines - 8,029 
 
 972,279 
 
 Total exclie on liquors 4>537>3io 
 Candles - - 287,721 
 
 Leather - ., - 215,904 
 
 Soap - - 347.237 
 
 Starch - - 82,890 
 
 Paper - - - 68,136 
 
 Glafs - - - 132,111 
 
 Wire - - - 2,453 
 
 Printed linens - - 200,737 
 
 Cocoa nuts and coffee - 28,676 
 
 Tea (from the commutation tax) 436,610 
 
 Audions and auctioneers - 58,887 
 
 Bricks and tiles - - 102,393 
 
 Coaches built for fale - 2,195 
 
 Licences to dealers in tea - *3>523 
 ■ ■ to makers of wax and fpermaceti 
 
 candles - - - 102 
 
 • to dealers in excifable commo- 
 
 dities - - - 47.655 
 
 ■ to retailers of fpirituous liquors 73,822 
 
 ditto, commencing July 5, 1 787 93,3 1 6 
 
 to fellers of plate - 8,2 1 2 
 
 per cent, on licences - 8,916 
 
 933.752 
 
 403.437 
 465,286 
 
 » 63,475 
 
 245.546 
 Arrears received in the courfe of the year - 2,921 
 
 Total ^6,751,727 
 13 To
 
 OF THE BRITISH EMPIRE. ti? 
 
 To the principal branches of the revenue of excife, namely, the 
 duties upon malt and malt liquors of every kind, including th^ diftil- 
 lery, there can be no objeftion, except upon the idea that they have 
 been carried to too great a height, and that the rate ought to be- 
 diminifhed. But fome have contend-ed, that duties upon the neceflaries 
 of life are peculiarly pernicious to a manufacturing country ; and others: 
 affert, and are perhaps better founded in theu- opinion, that all duties* 
 upon manufaftures themfelves ought to be aboliihed. 
 
 The excifes levied on what may be called the neceflaries of life, ex- ^°"^^- 
 
 ■' , ' quences of 
 
 clufively of coals, which has been already taken notice of, and fait, to- taxing of the- 
 be afterwards mentioned, but including candles, leather,, foap, and ^f-" "**** 
 ftarcb, may be ftated on an average at about 900^000/^ 
 
 It is faid that the levying of thefe duties, fo confiderable a part of 
 •which muft neceflarily fall upon the poor, has the effed: of raifmg the 
 price of labour, and enables other ftates,, where fuch taxes do not exift^ 
 to fell their goods at a lower rate, and confequently to fecure the con- 
 fiimption and market of foreign nations ; audit is commonly alTeited^ 
 that the excifes which are levied in Holland proved the means of 
 ruining the manufaftures for which that country was once fo famous^ 
 
 Such reafoning, however plaufible, may be controverted. 
 
 Mankind are hi from being naturally fond of laborious occupations ; 
 and there are few who, if left to their own inclinations, would not 
 •wifli to pafs away their time in floth and eafe, did not neceflity compel 
 them to induftry and exertion. 
 
 In manufactures alfo, perfection cannot be acquired or retained 
 without perpetual attention ; and if manufacturers, from the chcapnefs 
 of living,, and by being exempted from taxes, could maintain them~ 
 felves and their families by the labour of only three days in the week^ 
 few could refift the temptation, though in confequence of being idle 
 for the other four they would become lefs expert in their profeflion. 
 
 It is remarked in manufacturing towns, that their commerce never. 
 flouriOves Co much, and is never carried on to fuch advantage, as when„ 
 from the high price of provifions,. the workmen are compelled to. labouc 
 with uncommon afliduity^ 
 
 Though a confiderable part of the above taxes Is paid by the poor, 
 yel the rich, are far fi:om being exempted ; and with thefe taxes, the 
 
 wages.
 
 ia« HISTORY OF THE PUBLIC REVENUE 
 
 wages of the former have in fome degree increafed, though it mud be 
 acknowledged in a very unequal proportion. 
 
 A total exemption from taxes in favour of the poor, is a fyftem im- 
 practicable in a country fo loaded as we are at prelent ; and, in a free 
 ftate, perhaps would be unjuft : For there the poor have rights to which 
 they are entitled as well as the rich; and they ought to pay for the 
 privileges they enjoy. 
 
 On the whole, though an idea of fo humane and beneficent a nature 
 as that of relieving the burdens of the poor ought to be attended to, if 
 a proper fyftem for that purpofe could be formed ; yet I queftion much, 
 were it practicable, whether it would add in any great extent to their 
 comfort and happlnefs. I fhould imagine indeed, could the abolition 
 be afforded, that it were better to continue thefe taxes as they are, 
 however they may affedt the lower ranks of people, and to divide what 
 they pay into two parts ; appropriating the one to bounties upon ex- 
 ported manufactures, and annually diftributing the other among fuch 
 of the married poor as have families to maintain, in proportion to the 
 number of their children, and giving fmall annuities to thofe who, 
 after a life fpent in laborious induftry, are unable, from ficknefs or 
 age, to maintain themfelves ; that thus the fituation of that valuable 
 clafs of men might be rendered as comfortable as the imperfedion of 
 human nature will allow. 
 Confe- The different manufactures on which excife duties are levied, namely, 
 
 quencesof paper, glafs, wire, and printed linens, produce on an average about 
 
 oufadlures. ' 400,000 /. 
 
 Important as fuch a fum undoubtedly is, in the prefent ftate of this 
 country, yet the propriety of at leaft attempting to raife it in fome other 
 mode can hardly be queftioned. 
 
 I can conceive that a duty, without rifk of lofs to the public, might 
 be laid upon a manufacture with which other nations could not fupply 
 us, and with which we cannot properly fupply other nations. But 
 taxing manufactures of a different defcription ought on no account to 
 be adopted ; a greater variety of inconveniences arifnig from it than 
 can well be imagined. 
 
 The tax upon paper, for inftance, not only affeCts that particular 
 manufacture, but has alfo occafioned important confequences with 
 
 regard
 
 OF THE BRITISH EMPmE. icj 
 
 regard to the art of printing, which, in regard to beauty at leaft, is 
 falling off in this country ; a circumftance which may be partly attri- 
 buted to the high price of that material '. 
 
 Such are the natural advantages which this country enjoys for carrying 
 the glafs manufadure to perfcdliion, that, perhaps, nothing but the 
 high duties that are impofed upon it prevents our fupplying the 
 greateft part of Europe with almoft every fpecies of that article. 
 
 The duty upon printed linens might furely be commuted, and levied 
 through the medium of thofe by whom they are made up. In the pre- 
 fent mode they difcourage a very elegant and important manufadure. 
 
 It is faid that the duties are drawn back upon exportation ; and con- 
 fequently, that they only affe£l the home confumption. But a draw- 
 back can never compenfate for the trouble and vexation refultiug from 
 the infpedtion of public officers, who will only attend at times fuitable 
 and convenient to themfelves ; for the heavy lofs which the manu- 
 facturer feels from being compelled to advance the money for payment 
 of the duties long before he is reimburfed ; and ftill more from being 
 obliged to pay taxes on goods which are damaged, and confequently 
 unfaleable. Befides, if the ufual profit of the manufadurer is 10 per 
 cent, he mufl charge 20 per cent, on the duty he advances. Whereas 
 the merchant, who receives the drawback, will only make a dedudion 
 in proportion to the fum he receives, and the legal intereft. This mufl 
 render the price of our manufadures much higher (even when exported, 
 with all the advantages of a drawback) than would otherwife be the 
 cafe. In manufadures alfo where great art and fkill are neceflary, 
 where much depends upon the genius and fancy of the artift, where 
 machinery is perhaps of great importance, and in which the artift has 
 made difcoveries he is defirous of keeping to himfelf, and does not wifh 
 that even a hint of them fhould be communicated to others, any tax, 
 however infignificant, may be produdive of the greateft inconveniences 
 
 ' Alderman Boydell, in his catalogue of the pictures in the Shakefpeare Gallery (Preface, 
 p. 15.), makes the fame obfervation, and flatters himfelf, by his new edition of our immor- 
 tal poet, to reftore the reouiation of this country in regard to the art of printing, " in 
 " which," he fays, " to our difgrace be it fpoken, we are behind every neighbouring 
 " nation." 
 
 Part III. S to
 
 ijo HISTORY OF THE PUBLIC REVENUE 
 
 to the manufa£lurer, and may damp his fpirit and exeitions, without 
 yielding much income to the ftate \ 
 
 If circumftances, therefore, would admit of fuch taxes being abo- 
 lifhed, or if proper commutations could be contrived, nothing would 
 probably prove of more real fervice to the public. Indeed, if manufac- 
 turing induftry is at all to be loaded, it would be fair and equitable to 
 make no exception, and inftead of taxing particular manufadures, to 
 impofe duties upon fuch articles as all manufacturers muft confume. 
 
 Tax on auc- Tlie duty laid on goods fold by auction is another branch of the 
 excife that may be objeded to. It is a plan borrowed from the Dutch, 
 like many of our recent taxes. The difficulties to which thefe people 
 were reduced might juftify almoft any impofition. But if ever the 
 fituation of this country would admit of taxes being abolifhed, the 
 duty on auctions ought unqueftionably to be included in the number, 
 unlefs fome means could be contrived to take it out of the pocket of the 
 rich purchafer, inftead of the needy feller. At prefent it has rather a 
 tendency to increafe the raifery of thofe who in all probability are 
 already fufficiently reduced, than to diminilli the riches of the opulent. 
 
 Brick tax. Various fteps were taken, in the reign of queen Anne, for the pur- 
 
 pofe of impofmg a duty upon the bricks, tiles, flate, lime and ftones, 
 made ufe of within the limits of the bills of mortality ; and it was after- 
 wards propofed to extend the tax to all places within ten miles of the 
 cities of London and Weftminfter '. But fuch a plan, though reftridted 
 to the neighbourhood of a wealthy, and, in the opinion of many, an 
 overgrown metropolis, whofe increafe ought as much as poffible to be 
 checked, was wifely rejected, and certain branches of the ftamp duties 
 were fubftituted in its room"*. With this rejedtion, however, Handing 
 recorded on the journals of the houfe, this impolitic meafure, whofe 
 tendency is to check the population and improvement of the country, 
 has been again brought forward on a more enlarged, and confequently 
 a more pernicious fcale, and enaded under the aufpices of a minifler, 
 
 '' The tax on cottons, fuftians, (fc. impoft\i uj Mr. Pitt, on thefe grounds, after fome 
 ftruggle, was given up. 
 
 ' Comm. Journ. vol. xvii. p. 131, 157. 159. 173. 197. 
 ■" Ditto, p. 203. 
 
 whofe
 
 OF THE BRITISH EMPIRE. 131 
 
 whofe adoption of the weak and Injurious projeds of his predeceflbrs 
 in office cannot greatly add to his charader as a ftatefman. 
 
 In the farther progrefs of this work it will appear that meafures Licences, 
 might be adopted to render duties in the ftiape of licences lefs excep- 
 tionable. At prefent, by confounding the new beginner and the 
 veteran in trade, and by making no diftindion between them in re- 
 gard to the duties they are refpedively charged with, competition is 
 neceflarily diminiflied, bufmefs naturally falls into a few hands, and 
 confequently the public can never exped to be equally well ferved. 
 
 The origin of the mode of raifing a revenue by means of ftamps is 3- Stamps. 
 not a little fingular. 
 
 In the wars which the Dutch carried on for maintaining their rights 
 and privileges againft the houfe of Auftria, they were reduced, as might 
 naturally be expeded in fo unequal a conteft, to the greatefl difficulties 
 and diftrefs. Not knowing in what manner to raife money, they 
 offered, by public edid, a confiderable fum to any one who fhould dif- 
 cover the moft ufeful and the leafl: burdenfome mode of adding to the 
 revenue. Such an offer naturally produced many propofals. Among 
 the reft the veBigal charta, in the Dutch language called Impqft van 
 bcfcgelde Brievcti, was fuggefted, and the idea being approved of, the 
 individual by whom it was propofed received the reward due to his 
 talents and invention. 
 
 As the hiftory of this tax is far from being generally known, it may 
 not be improper to give fome account of the arguments made ufe of on 
 each fide relative to it, when originally impofed. 
 
 The firft idea included every thing that has fmce been fuggefted upon 
 the fubjed. It was propofed, that no petitions fhould be received by 
 the ftates, by the magiftrates of any city or diftrid, or by the judge of 
 any court, unlefs they were ftamped ; that no proceedings in law, that 
 no receipts or acquittances, no deeds v^'ritten by notaries, attornies, 
 fcriveners, lawyers, and the like ; and that no inftrument of any kind 
 fhould be received as evidence, or in any manner fuftained by a court 
 of juftice, unlefs a certain fum had been paid under the name of ftarap 
 duty, in proportion to the nature, quality, and value of the matters 
 therein contained. 
 
 S 2 The
 
 132 HISTORY OF THE PUBLfC REVENUE 
 
 The propofal was fupported by the following arguments : 
 
 I. That the burden was in itfelf but fmall and inconfiderable ; 
 2. That the poor and lower ranks of people, having little or no occafiou 
 for fuch writings, would be almofl totally exempted : 3. That the 
 wealthier citizens, having many contrads to make, and many law- 
 fuits depending, would have frequent occafion for ftampt paper; and 
 confequently the tax would yield a confiderable revenue to the public. 
 
 Thofe who oppofed the projedl faid, that fuch flamps might eafily 
 be counterfeited by private perfons, and that it would be difficult to 
 detedt the fraud : to which it was anfwered,that this would unquellion- 
 ably be prevented, if public officers were appointed to fubfcribe their 
 names to the ftamps, it being much eafier to counterfeit a feal or ftamp 
 than the hand of any one. And when it was obje£l:ed,.that public ftamps 
 might be procured even to counterfeited deeds, and thereby confirm 
 their authority ; it was anfwered, that by putting the ftamp at the 
 fide, and not at the bottom, of the page, it would denote, that the 
 public, by fuch a mark, did not authenticate the inftrument, but merely 
 demonftrat'ed that the parties had fulfilled the orders of the legiflature, 
 in making ufe of fuch a material ". 
 
 Such was the origin of ftamp duties in Holland. They were firft 
 eftablilhed. in this country (7««o 1671°. But fo many afts have fince 
 been paffed upon the fubjec^, that a mere enumeration of the duties 
 
 " See Difquifitiones Politicae, Hagae Comitis anno 1651, cafus 59. This work was 
 tranflated into Engli(h under the title of Arcana Imperil DeteSfa. Printed at London, 
 anno 1701. The tranflation (which was faid to have been by the famous Dr. D'Avenant) 
 is hardly to be nnet with, and the original is ftill fcarcer. 
 
 Another account is given of the origin of flamps, which deduces them from the proto- 
 colae of the Roman notaries, whofe example was imitated in France, and became, in the 
 \ear 1655, ^ ^oufce of revenue in that country. Perhaps the perfon who propofed this tax 
 in Holland might have taken the hint from fome of the legal proceedings of the Roman 
 law. But it is to be obferved, that the book whence the above account is drawn up, was 
 printed anno 165 1, and that this mode of raifing a revenue did not exift; in France until 
 four years afterwards. It is more than probable, therefore, that in fo far as refpedts mo- 
 dern Europe, the merit of this tax may be given to the Dutch, to whom indeed many other 
 financial difcoveries ought to be attributed. 
 
 •^ By 22 Car. II. cap. iii. See part i. p. 191. 
 
 fills
 
 OF THE BRITISH EMPIRE. ijj 
 
 fills a volume ^ It cannot therefore be expefted that they fhould be 
 fpecified in this work. It will be fufficient to give a ftatement of the 
 income arifing from this branch of the revenue, for the year ending 
 Michaehnas 1788, together with fuch obfervations as may occur re- 
 garding any particular article in the account. 
 
 PRODUCE of the STAMPS from Michaelmas 1787, to 
 
 Michaelmas 1788. 
 
 Confolidated duties 
 
 Infurance ditto 
 
 Births and burials 
 
 Bills of exchange 
 
 Receipts - - 
 
 Hat duty _ _ _ 
 
 Game ditto - - 
 
 Gold and filver 
 
 Perfumery, S5°f. 
 
 Apprentices indentures 
 
 Judges duty 
 
 Poft horfe ditto 
 
 Medicine ditto 
 
 Glove ditto 
 
 Licences on horfe dealers 
 
 ■ ■- on attorneys 
 
 — on pawnbrokers 
 
 Total 
 
 Great as this revenue is, yet fome of the branches of it are far from 
 yielding the fums which were expected from them, more efpecially the 
 following articles: 
 
 p See a complete abridgment of the ftatutes relative to the ftamp duties, in one volume 
 o£\avo. Printed anno 1783. 
 
 Hat 
 
 ^660,034 
 
 
 
 
 
 98,481 
 
 7 
 
 5 
 
 3,754 
 
 4 
 
 3 
 
 87,743 
 
 7 
 
 3 
 
 40,452 
 
 12 
 
 9 
 
 23,196 
 
 13 
 
 7 
 
 49,914 
 
 10 
 
 8 
 
 23,234 
 
 18 
 
 10 
 
 11,239 
 
 I 
 
 
 
 7,149 
 
 13 
 
 II 
 
 1,298 
 
 5 
 
 7 
 
 219,163 
 
 J8 
 
 5 
 
 11,070 
 
 13 
 
 3 
 
 10,730 
 
 9 
 
 10 
 
 1,697 
 
 1 1 
 
 5 
 
 24,650 
 
 17 
 
 I 
 
 4,402 
 
 12 
 
 7 
 
 ^1,278,214 
 
 18 
 
 4
 
 1J4- 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Tax on re- 
 ceipts. 
 
 Hat duty 
 
 Perfumery, Effr. 
 
 Glove duty 
 
 Licences on pawnbrokers 
 
 leal produce. 
 
 Calculated produce, 
 
 23,196 
 
 150,000 
 
 11,239 
 
 15,000 
 
 10,730 
 
 50,000 
 
 4,402 
 
 15,000 
 
 49*567 
 
 230,000 
 49067 
 
 Difference 
 
 /'iiJo,433 
 
 It is to be hoped that the right honourable gentleman, under whofe 
 adminiftration thefe taxes were impofed, will contrive feme means for 
 putting an end to the evafions which have rendered them as yet fo un- 
 produdive, or will propofe the fubftitution of other taxes in their 
 room. 
 
 It appears from the preceding account of the origin of ftamps, that a 
 duty upon receipts or acquittances was recommended by the inventor 
 of this mode of taxation ; and fuch a tax has been long eftabliftied in 
 different parts of the continent, without being produ£live of any great 
 inconvenience ^ ; but when it came to be propofed in this country, it 
 encountered a very formidable oppofition. That oppofition was for- 
 tunately refilled, and the tax is now paid without furnifhing much 
 caufe for complaint. The only well-founded objcdion to it feems to 
 be, that the original idea, by which the duty was proportioned to the 
 greater or fmaller value of the articles to which it related, has not been 
 adhered to ; hence it is fl\r from yielding the fum for which it was 
 given, namely, 250,000/. Perhaps, if the mode of levying the tax 
 were altered, and if the duty were impofed upon the perion who re- 
 ceives the money, and not upon the perfon who pays it ; and if no re- 
 ceipt were to be valid that was not written upon ftamped paper, there 
 are few branches of this department that would prove more pro- 
 dudive. 
 
 ■I In Denmark, all kinds of receipts muft be written upon ftamped paper; the fmalleft 
 ftamp for this purpofe is of the value of two pence Engliih, and the higheft, two pounds 
 eight fhillings. See Williams's State of the Northern Governments, vol. i. p. 399. 
 
 4. It
 
 OFTHEBRITISHEMPIRE. 135 
 
 It is an unfortunate circumftance for a commercial nation, that the Poft-horfe 
 neceffities of the ftate fliould have given rife to a tax on the intercourfe '^*" 
 that takes place between one part of the country and another; fince 
 there is nothing that tends fo much to fpread induftry, wealth, and 
 civilization, and in (hort all the pleafures and advantages of fociety, 
 as an eafy and quick conveyance. By fuch a communication between 
 the capital and the country, the whole fociety becomes, in a manner, 
 one firm and compared body, impreffed with the fame ideas, actuated 
 by the fame principles, fpeaking the fame language, animated by the 
 fame fpirit, and in every refped refembling the fellow-citizens of the 
 fame town. The remoteft parts of a kingdom are thus gradually 
 brought to be nearly as valuable and important as thofe fituated in the 
 neighbourhood of the metropolis. The health of the inhabitants alfo is 
 preferved by travelling about, in furveying and vifiting their own 
 country; and improvements and information of every kind are more 
 rapidly and more eafily communicated. 
 
 But unfortunately a tax on the internal communication of the coun- 
 try has not only been impofed, but a new plan of levying it has been 
 recently adopted, by farming the tax to publicans ' : a mode which has 
 long been defervedly exploded at home ; is univerfally condemned in 
 every part of Europe where the fubje£t of finances is at all known or 
 confidered ; and has ever been held peculiarly inconfiftent with the 
 principles of a free conftitution. 
 
 It is hardly pofTible to difcover even a plaufible reafon for fo unjuft 
 and impolitic a regulation. This tax had produced, at the rate of one 
 penny per horfe for each mile, the fum of 140,000/. of grofs, and 
 125,000/. of net income. In the budget of 1785, it was ftated, that 
 an additional halfpenny ^^'r mile, would produce 50,000/. /><'r ^;/;///;«, 
 and an adl for levying that duty was accordingly pafled ^ Inftead of 
 fo confiderable an addition, however, the grofs produce amio jy86 
 amounted only to 166,199/. and the nett to 148,820/ It now pro- 
 duces 219,163 /. Surely, for fuch a difference (principally arifing from 
 the impolitic addition to the tax made by the prefent minifter) the prin- 
 ciples of our financial fyftem ought not to have been violated ; and if it 
 
 ' By 27 Geo. III. cap. 26. ' 25 Geo. III. cap. 51. 
 
 13
 
 neous taxes. 
 
 ^26 HISTORY OF THE PUBLIC REVENUE 
 
 is Intended merely as an experiment how far the farming of certain 
 other branches of the revenue can anfwer, there is no faying to what 
 a noxious extent it may be carried. 
 
 Befides, other plans to prevent frauds ought to have been tried, 
 before fo pernicious a principle was adopted. A duty to a certain 
 amount (fuppofe equal to the produce of one half of the tax) might 
 have been laid on every horfe kept for the purpofe of being hired for 
 porting (which could not have eafily been evaded, as the ftables of an 
 inn-keeper are neceffarily open to the infpedion of the public), and the 
 other half might have been levied at the gates. Or a feparate fet of 
 commifhoners might have been appointed, whofe emoluments were 
 only to arife from a. per centage on the additional income they were to 
 raife by their zeal and fuccefs in difcovering the beft mode of checking 
 evafion. 
 4. Mifcella- The income of the remaining fources of the public revenue, from 
 Michaelmas 1787 to Michaelmas 1788, was as follows: 
 
 Salt duties .- - . £35^^533 611^ 
 
 Poft office _ - _ 311J000 o o 
 
 Hawkers and pedlars - ^ 2,170 o o 
 
 Hackney coaches _ - - 23,152 8 8 
 
 Alienation duty - - — 3>'^9^ ^2 o 
 
 Seizures _ _ - 15,088 18 loi- 
 
 Fines and forfeitures - - IjSqi ii J- 
 
 6 ^. /^r pound on penfions - - 41, 100 00 
 
 1 J. per pound on falaries - ' - 30,349 3 24- 
 
 Male fervants _ . ^ 92,109 16 10^ 
 
 Female fervants ._ ^ - 31,860 19 5-i 
 
 Four wheel carriages - - 128,567 14 10^ 
 
 Two ditto _ - ^ 28,619 II 6-1- 
 
 Waggons - ^ - 20,271 II 3^ 
 
 Carts - - - - 12,204 9 3I. 
 
 Horfes _ _ _ « 108,360 19 8 
 
 Houfes and windows (1766) - 3851459 n 7 
 
 Houfes (1779) - - - 130.739 14 5't 
 
 Carried forward ;,C 1,722,571 10 4^
 
 OF THE BRITISH EMPIRE. , [ 13/ 
 
 Brought forward 
 
 -^1,722,571 
 
 10 
 
 4t 
 
 9 
 
 Shops „ - _ 
 
 52,050 
 
 13 
 
 9r 
 
 -.1 
 
 Firft-friiits 
 
 5,164 
 
 2 
 
 10 
 
 
 Tenths of the clergy 
 
 9,893 
 
 16 
 
 4 
 
 
 Stamps, compofition of the bank 
 
 12,000 
 
 
 
 
 
 
 Small articles 
 
 2,075 
 
 3 
 
 5t 
 
 
 Total 
 
 £> 1,803,755 
 
 6 
 
 9 
 
 
 The reader will probably excufe a few curfory obfervatlons on the 
 above flatement ; particularly as fome of the taxes therein mentioned 
 are liable to material objedlions. 
 
 The duty levied upon fait took its rife in the Roman republic, Salt-tax. 
 where the principles of commerce were far from being underftood, 
 and where no attention was paid to its encouragement. Such a tax 
 might be confident with the nature of that government, and the 
 fituation of that empire : but in Britain the cafe is materially dif- 
 ferent ; and it is difficult to ellimate the magnitude of the lofles which 
 it has occafioned. 
 
 It appears from the important and laborious Inveftigation that has 
 been made into the ftate of the Britifh fifheries, that nothing has had 
 fuch a tendency to prevent their rifing to the height to which it is fo 
 defirable they fhould attain, as the tax upon fait : for without that 
 material the commodity cannot be made fit for exportation ; nor can 
 the home confumption become fo general and extenfive, as otherwife it 
 would prove. 
 
 It is a tax that deeply affedts the' poor, who are obliged, from their 
 fituation in life, to confume a greater quantity of falted provifions than 
 their richer neighbours. 
 
 It is univerfally acknowledged, that every plan which tends to aug- 
 ment the price of navigation ought to be avoided ; and yet we con- 
 tinue a tax which renders the fuftenance of our feamen dearer, and 
 compels not only our merchants, but even the public itfelf, to procure 
 immenfe quantities of falted provifions from Irelandj with which we 
 might otherwife fupply curfelves. 
 
 The rock fait with which Chefliire abounds, joined to the cheapnefs 
 
 and abundance of coal, would enable this country to underfell its 
 
 Part III. T commercial
 
 t38 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Tax on 
 houfes and 
 windows. 
 
 Commuta- 
 tion-tax. 
 
 commercial rivals, and to fupply the greater part of Europe with that 
 nccelTary" article, to the amount perhaps of a million ^ct <:z;7/«/7«, were 
 it not for this unfortunate duty ; and hence, inftead of our being able 
 to import fait into other countries, in the manner we might do, France 
 and Ireland at this time contribute to fupply our confumption. 
 
 The article of barilla, a fpecies of fait made ufe of in fome of our 
 manufa£lures, is imported into Great Britain to the amount of at 
 leaft three hundred and fifty thoufand pounds /<?r annum. Whereas if 
 the duty on fait were abollfhed, there would be no occafion to apply to 
 any country for that commodity'. 
 
 To the generality of foils, fait is a manure peculiarly well adapted : 
 and particularly where the ground is dry, it will render almoft any 
 fpot tolerably fertile ; but whilft the duty on fait remains, it is im- 
 poflible to make ufe of that manure with any hopes of advantage. 
 
 Thefe circumftances being confidered, it cannot well be accounted 
 an exaggerated calculation, that it occafions the introduftion of com- 
 modities into this country which would not otherwife be necelTary, 
 and prevents the creation of wealth, which might otherwife be ac- 
 quired, to the amount of at leaft three millions per annum ^ which are 
 thus facrlficed for the fake of the income derived from this branch of 
 our finances. 
 
 The duty of hearth-money had hardly been abolifhed, before it 
 was found neceflary to levy another houfe tax, in proportion to the 
 number of windows in each houfe, fo that in the language of the 
 time it was faid, " that the country had got nothing by the fwap "." 
 Other taxes have fmce been impofed both upon houfes and windows ; 
 but none has occafioned fuch a diverfity of opinion, or given rife to 
 fo much difcuffion, as the one diftinguifhed by the name of the com- 
 mutation-tax. 
 
 It is well known that the great difadvantage attending duties upon 
 confumption is this, that the payment of thefe duties may be evaded 
 by the introduction of contraband articles, and that the higher the duty, 
 
 ' Barilla is made from the afhes of an herb that grows on the coafts of the Mediter- 
 ranean, particularly in Spain. It is made ufe of in making glafs and foap, and in 
 bleaching. A preparation from fea fait, if duty free, would be cheaper, and would anfwer 
 the fame purpofes. 
 
 " The fame obfervation is abundantly more applicable to the commutation-tax upon win- 
 dows. 
 
 the
 
 OF THE BRITISH EMPIRE. 139 
 
 the greater Is the temptation to fmuggle. An increafe lu fuch taxe^, 
 therefore, has often occafioned a decreafe in the revenue ; and Swift's 
 farcaftic remark upon fuch projedts of finance has often been verified ; 
 " that in the ajithmetic of the cuftom-houfe, two and two, inflead of 
 " making four, fometimes amounts only to one." 
 
 But of all the articles on which too high a duty was dangerous, 
 perhaps that on tea ought to have been peculiarly avoided ; fmce, not- 
 withftanding the diftance whence it was brought, it was irapoffible to 
 prevent neighbouring and rival nations from importing it in any quan- 
 tity they might incline ; and no commodity could be better adapted 
 for an illicit trader, on account of the certainty of a demand, and the 
 fmall bulk in which confiderabie value could be carried. Imprefled 
 with thefe ideas. Sir Matthew Decker, one of the moft intelligent and 
 public-fpirited mercantile charaders of his time, ftrongly urged the 
 neceffity of making fome regulation that would ch^ck the contraband 
 commerce in tea, fince it was the profits upon that article that 
 enabled the fmuggler to carry on a trade of the fame kind in other 
 commodities. 
 
 The plan he fuggefted was, to Impofe a duty on every family In 
 England that drank tea, the higheft at the rate of twenty fhillings, 
 and the loweft at the rate of five, in proportion to the number of 
 perfons in each family : and that all public houfes felling tea fliculd 
 pay 5/. in London and Weftminfler, and forty fliillings in every other 
 part of England ''. But this propofal, according to the confeffion of 
 the author, was only intended to raife 130,000/. a-year, which was 
 then the amount of the excife duties paid upon that commodity. 
 
 The meafure propofed by Decker was borrowed from the regula- 
 tions which ftill exift in fome of the provinces in Holland : but every 
 perfon in the leaft acquainted with the government of the two coun- 
 tries will eafily perceive, that a fyflem calculated for the one, cannot 
 always be adopted by the other. The flriit police and rigid laws 
 eftabliflied in the United Provinces would be accounted here the 
 height of tyranny and oppreiTion '. In Holland, any perfon who at- 
 
 * Serious Confiderations on the feveral high duties which the nation in general labours 
 under; third edition, printed anno ly^-^- 
 
 ^ A general account of the mode of levying the inland taxes of Holland will be given 
 in the Appendix, affording a better view of that important fubjeft than any hitherto known. 
 
 T 2 tempts
 
 140 HISTORY OF THE PUBLIC REVENUE 
 
 tempts to evade tlie public taxes is punilhed with the utmoft feverity ; 
 whereas in Britain, it is unfortunately accounted rather a venial 
 trefpafs. 
 
 But though fo bold a meafure as that of taking off the duties upon 
 tea entirely could not be adopted, yet the neceffity of fome regulation 
 that would check the fmuggUng of that article was univerlally ac- 
 knowledged. A committee was appointed by the houfe of commons 
 on the 6th of February 1745, to take this important fubjedt into 
 confideration^ : by whom two reports were drawn up and prefented to 
 the houfe, containing much curious information, and hints which 
 proved not a little ferviceable to the revenue at the time"". 
 
 The duties to which teas were then liable were about \/\. per cent, 
 ad valorem^ payable to the cuftoms, and an inland duty of four fliil- 
 lings/^r pound, to the excife. On an average of five years (ending 
 Pvlidfummer 1745), only '768,5 20 pounds of tea had paid duty, and 
 ..the medium produce, of the revenue was at the rate of 175', 222'/. 
 per annum. Such was the fituation of this branch of our commerce 
 and revenue, when, anno 1745, an adl was pafled by which the in- 
 land duty was reduced to, one fhilling in the pound, and an additional 
 ■. excife duty of 1^ per- cenL ad valorem was impofed, according to the 
 price at which teas were purchafed at the public Hiles of the F.afl; India 
 company". In regard to the cuftom-houfe duty of 14 per cent, it 
 continued at the fame rate. 
 
 The advantages of this judicious meafure, originally propofed by 
 Sir Stephen Theodore Janflen, were foon perceived. The average 
 confumption of the commodity, at a medium of feventeen years and 
 a half, fubfequent to the redudlion, amounted to 3,957,634 pounds; 
 and the income arifing from thence to 490,553/. being an addition to 
 the revenue of 315,331/. /fr «//«//;?;. This was the firft experiment 
 in the financial hiftory of this country, of any material confequence, 
 which ellablilhed the important principle, that the lowering of a high 
 
 "^ Commons Journal?, vol. xxv. p. 57. 
 
 =" The firft is printed in Commons journals, vol. xxv. p. ici. The other report was 
 not fuffeied then to be read or printed (fee p. 180) ; but was publifhed anno 1763 by Sir 
 Stephen Theodore JanfTen, in the volume incitled, " Smuggling laid open." 
 
 » 18 Geo. II. cap. 26. 
 
 duty
 
 OF THE BRITISH EMPIRE. 141 
 
 duty upon an article of confumption might very connderably advance 
 the produce of the public revenue". 
 
 Unfortunately however, the plan of retaining only a moderate duty 
 upon teas v\'as not adhered to ; for, an?io 1 748, a tax of 5 per cent. 
 took place upon dry goods, including teas, and other additions were 
 afterwards made both to the excife and cuftoms, infomuch that, a?i!io 
 1783, the duties upon tea were as follows: 
 
 Cufioms 27/. los. per cent, paid by the company. 
 
 Excife 28/. I '^s. per cent. 1 • j 1 ,1 r 
 
 , i ^ r , J paid by the conlumer. 
 
 And I J-. I d.*^-^per grols pound J 
 
 It might naturally be expected, that fuch heavy duties would Increafe 
 the contraband trade of an article fo peculiarly well calculated for the 
 purpofcs of the fmuggler. And a variety of ether frauds being 
 known to exift in other branches of the revenue, a felect committee of 
 the houfe of commons was appointed to inquire into the illicit prac- 
 tices fo prevalent at that time. The valuable reports drawn up by that 
 committee arc well entitled to the reader's attention; but the only part 
 of them to which it is propofed at prefent to refer, relates to the article 
 of tea". 
 
 In the third report of the committee, prefented the 23d of March 1 784, 
 a plan is mentioned (originally fuggefted by an active and intelligent 
 officer of the Eaft India company"), the objedl of which was a very 
 confiderable reduction in the tea duties ; and as the plan would na- 
 turally occafion a diminution of revenue, calculations were drawn up, 
 ftating the principles on which fuch deficiency might be made up, by 
 a tax upon windows. The committee, however, inflead of en- 
 
 ' See "Smuggling laid open in all its extenfive and deftrudive Branches, with Prcpofals 
 for the effcflual Remedy of that moft iniquitous Practice: by SirStephen Theodore JanfTen:" 
 I vol. oc\avo, printed anno 1763. Poftlethwayt alfo, in his Commercial Dictionary 
 (voce Tea) has given us the tables of the confumption of teafrom 1734 to 1763, copied from 
 that work. It is hardly necefiary to add, that the pretenfions of modern ftatefmen to the 
 nnerit of difcovering that a redudlion of duty may increafe the revenue, is not perfectly 
 well founded. 
 
 ■' In the Parliamentary Regifler for 1783, vol. xiv. the three reports prefented by this 
 committee are publifiied. 
 
 « William Richardfon, Efq. accountant-general of the company. 
 
 forcing
 
 ,42 HISTORY OF THE PUBLIC REVENUE 
 
 forcing the idea, very cautioufly remarked, that they thought it their 
 duty to fuggeft the plan to the houfe, as deferving a ferious difcuflion : 
 and when the fubjedl was firft propofed in parliament by the minifter, 
 the chairman of the committee ftated " That the plan, though poiTibly 
 *' not impraiSlicable, was full of difficulties, liable to create much 
 " public fermentation, and certain to be the fubjedl of many long 
 " debates in that houfe ^" 
 
 The public were prepared for fome regulations of that nature, by a 
 paragraph in his majefty's fpeech on the 19th of May 1784, which 
 recommended the alarming progrefs of frauds in the revenue, accom- 
 panied in fo many inftances with violence, as a matter which could 
 not fail on every account to excite the attention of parliament ; and 
 the fyftem formed for that purpofe was ftated to the houfe on the 21ft 
 of June following. 
 
 The grounds on which this meafure was propofed were fliortly 
 thefe : That tea was the ftaple of fmuggling, infomuch that though 
 the Eaft India company fold only 5,500,000 pounds weight for home 
 confumption, there were from twelve to thirteen millions of pounds 
 confumed in the kingdom. That to remove this evil, the beft pof- 
 fible plan was, to lower the duty upon tea in fuch a degree as to take 
 away from the fmuggler the temptation to carry on an illegal trade : 
 but as the revenue could not afford atiy material diminution at preferit, 
 that it would be neceflary to propofe a new tax, as a fubftitute in its 
 room. The fum required would be from 700,000 to 800,000/. per 
 aiimim^ 169,000/. of which was propofed to be raifed by a duty of 
 12L per cent, on the price paid by the purchafer at the public fales of 
 the company^ and the remaining 600,000/. by an additional duty 
 upon windows. The happy confequences which were to refult from 
 the adoption of this meafure, were reprefented in the moft flat- 
 tering colours : " The public revenue," it was faid, " would be con- 
 *' fiderably a gainer, and yet the people would have no reafon to 
 
 ' Speech of the Right Hon. William Eden, Parliamentary Regifter, vol. xv, p. 230. 
 
 s The minifter at firft propofed a duty of ix\ per cent, on bohea, 25 per cent, on 
 fouchong, lOper cent, on finglo, ^opcrcent. on congo,{3'r. ; but, with his ufual mutability of 
 fyftem, he (0011 altered that ground, and impofed the fame ad valorem duty of 12-- per cent. 
 oa teas indifcriminateiy. 
 
 complain 
 
 ((
 
 OF THE BRITISH EMPIRE. 143 
 
 " complain of additional burdens, as they -would be /avers by the 
 " plaii \" 
 
 It would require a volume to give a hiftory of the various debates 
 which have taken place upon this fubjedl, or an account of the argu- 
 ments for and againft the meafure which have at different times been 
 urged'. The miaifter who propofed it has termed the commutation 
 adt " glorioiijly fuccejsful ", whereas his opponents have held it forth as 
 abfurd, extravagant, and pernicious '. The beft mode of forming an 
 impartial opinion upon the fubjedb will be, to confider the confcquences 
 refulting from it, whether of a commercial, financial, or political na- 
 ture. 
 
 Confidered merely as a commercial regulation, many plaufible argu- 
 ments may be urged in its favour. It has certainly increafed, in a very 
 confiderable degree, the commerce of this country with China, aug- 
 mented our lliipping and feamen in that trade, and produced all the 
 other advantages refulting from a more extended navigation. 
 
 Confidered alfo merely as a matter of finance, the exchequer is no 
 material lofer by the bargain. It appears from the commutation aft "j 
 that the cuftoms on tea, at an average of five years, amounted to 
 348,547/. 6j-. 9^. and the excife to 555,917/. 3^. (yd. making in all 
 904,464/. IOJ-. 3*'/. which was a larger fum than had been originally 
 fuppofcd. The whole commutation fund for the year ending Michael- 
 mas 1788, produced 781,657/. <^s. ^d. The difference is confiderable, 
 amounting to 122,807/. but muft, in fome degree, be made up to the 
 public, by additional duties received on other articles ; the checking of 
 fmuggling in tea having operated beneficially in preventing illicit 
 pradlices in other branches of the revenue. 
 
 ■• Mr. Pitt's fpeech, Pari. Regifter, vol. x. p. 23O. 
 
 ' See particularly Pari. Regilter, vol. xv. p. 230. vol. xvi. p. 377, and p. 90 in the de- 
 bates of the houfe of lords in the fame volume; alfo, vol. xy, p. 156. 161. 354, (^c. 
 Some very able pamphlets have likewife been written upon the fuhject, more particularly, 
 Obfetvations on the Commutation Projedl, by Thomas Bates Rous Efq; Mr. Baring's 
 Principles of the Commutation h& ellablifhed by Facls ; Obfervations relative to the 
 Taxes upon Windows or Lights, by M. de Lolmci Mr. Twining's Obfervations on the 
 Tea and Window Aft, i^c. ^c. 
 
 ^ Pari. Rtgifter, vol. xx. p. 354. ' Ditto, p. 1 5 8. 
 
 " 24 Geo. III. cap. 28. 
 
 The
 
 144 HISTORY OF THE PUBLIC REVENUE 
 
 Tlie arguments which have been urged againft this meafure, confi- 
 dered as a great political operation, are fhortly as follows : " That it 
 " encourages an enormous confumption of a foreign commodity, in no 
 " refpedl neccffary or ufeful : — That it encourages the confumption of 
 " a commodity which there is reafon to believe is far from being fa- 
 " vourable to the health of the people : — That it encourages commerce 
 " with a country but little difpofed to take our goods and manufadures 
 " in return, but which requires payment in bullion, and thereby di- 
 " miniflies our domeftic wealth and circulation : — That it encourages 
 " an article which prevents the confumption of the wholefome be- 
 " verages of our own country, which in every point of view ought to 
 *' be preferred, more efpecially as fo large a portion of our revenue is 
 " derived from them ; and that for the purpofe of obtaining this per- 
 " nicious article at an eafy rate, we impofe a tax which materially 
 " tends to decreafe the number of houfes, and confequently the popu- 
 " lation of the country, or at leaft to render the dwellings of the 
 " people uncomfortable, if not unhealthy "." In addition to thefe ar- 
 guments, it is urged, that by encouraging the confumption of the 
 higher priced teas, we double, and may treble the coft of the article in 
 the market of China, which may totally reverfe the balance of our trade, 
 were it ever fo much in our favour ; and that for fupplying the extra- 
 ordinary demand occafioned by the projecft, we were obliged to pur- 
 chafe from the companies eftablilhed by rival nations, no lefs a quantity 
 than 17,009,8771b. weight, which coft us the enormous fura of 
 2,048,797/. 18/. id. 
 
 The injuftice of the commutation tax, in many inftances, can hardly 
 be dilputed ; individuals being compelled to pay the tax who confume ■ 
 no tea, and thofe who do confume it, not paying in any adequate pro- 
 portion. 
 
 The bargain between the public and the Eaft India Company alfo 
 has not been adhered to. The tax on windows is regularly exaded, 
 whilft the price of tea continues nearly as high as formerly. Did this 
 
 " Windows were originally intended for the free admiflion of Alr^ which our anceftors 
 wifely thought might not a little contribute to the health of the people. Window is in 
 fad a corruption pf JVindoor, and this tallies very well with Johnfon's explanation of the 
 word, " An aperture in a building by which air and light are intromitted." 
 
 profit
 
 OF THE BRITISH EMPIRE. Hi 
 
 profit go Into the exchequer, it might be paid without murmur ; but 
 enriching, as it does, the /"peculators and dealers in that commodity, it 
 is naturally complained of. 
 
 But the ftrongeft argument againft the commutation tax is, that it 
 was a wanton and unneceffary experiment. It had been formerly 
 afcertained, that the duties as they flood anrio 1750, were fufficient to 
 check fmuggling, for the confumption regularly increafed from that 
 period". At the duties of the year 1750, 2,700,000 /i^. weight of tea 
 produced 372,600/. Had the duties been reduced to the fame flandard 
 (by which fmuggling would have been eftedually prevented), if the 
 confumption in this country is 16,200,000 /i^. weight of tea (which was 
 under the quantity fold in the year ending September 1787), the income 
 produced would have amounted to the enormous fum of two millions 
 two hundred and thirty-five thoufand fix hundred pounds, and no 
 commutation tax could have been necejfary ^ 
 
 Perhaps 
 
 " The confumption would never have increafed fo regularly as it did, had it been im- 
 peded by fmuggling. But it rofe gradually from 2,700,000/i. its amount in 1750, to 
 4,393,983/^. the quantity confumed anna ijbi. 
 
 P If by reducing the tax on teas to the {laiidard of the year 1750, there was theleaft ap- 
 prehenfion of fmuggling, the cuftom-houfe duty of 14 per cent, which then exifted, might 
 be given up, and the following plan might be adopted : 
 
 Let there be a feparate department at the India houfe under the management of three or 
 more dire£lors appointed for th.:t fpecial purpofe. — Let thefe direiSors be impowered to dif- 
 pofe of the company's teas by private fale, and not by public auction, as by tlQ: of parlia- 
 ment muft be done at prefent. — Let certain agents be appointed in all the principal towns 
 in the kingdom, for the purpofe of retailing teas for the behoof of the company, at a certain 
 moderate profit ; but if any tea is purchafed by a licenfed retailer, a reafonable difcount to 
 be given.— No quantity to be fold by the directors or their agents under half a chef}. — The 
 books of the company to be open to the infpeflion of the treafury, and a duty of one fliiU 
 \\t\gper lb. znd 2$ percent, ad valorem, to be charged to the company for the public behoof. 
 During the fpace of one year ending September 1787, 1 6,692,427 /iJ, weight of tea were 
 fold by the India company, and the duty at iilper cent, came t« 336,095/. A (hilling 
 per lb. upon that quantity would have produced 834,621/. and 25 percent, ad valorem 
 672,190/. making in all 1,506,811 /. which is the loweil fum at which the revenue to be 
 drawn from tea, with any tolerable management, ought to be calculated. The public 
 fales, by affording the means of fpeculation and monopoly, encourage fmugcling. No 
 contraband trade could exifl, were the company permitted to enter into a fair conteft with 
 the illicit trader at his own home, even loaded with thefe duties ; ^nd whoever confiders 
 
 - Part III. U the
 
 ,46 HISTORY OF THE PUBLIC REVENUE 
 
 Perhaps no country ever threw away fo noble an opportunity of 
 acquiring a revenue in many refpe£ts fo important and unexception- 
 able. It may efteem itfelf happy, however, if it fuffers no greater lofs 
 during the government of the prefent pilot of the ftate, who, though 
 polfefled of brilliancy of talents and powers of oratory fufficient to 
 dazzle and delude the multitude, and of abilities which may qualify 
 him, in time, to have a confiderable fliare in the government of the 
 country, yet unfortunately for himfelf and the public, was'prematurely 
 thruft forward into the firft place in the councils of the fovereign, before 
 his judgment was ripened, and before he had difcovered that whatever 
 private individuals may venture to propofe as a matter of fpeculation, 
 no minifter ought to tamper with the conftitution, the commerce, the 
 public credit, or the finances of the country. Fortunately, however, 
 his meafures are watched by an adlire and an able oppofition, who, if 
 they have not had an opportunity of doing good, have at leaft dif- 
 tinguifhed themfelves by the fpirit and zeal with which they have pre- 
 vented mifchief on many important occafions. The commutation tax 
 they have uniformly refifted, however fruitlefsly. But they have put a 
 flop to the miferable confequences which muft have refulted from farther 
 commutations which were in agitation. Their having preferved the 
 adl of navigation, and having been the means of preventing the com- 
 mercial propofitions with Ireland from pafTmg into a law, are public 
 benefits which juftly intitle them to the applaufe and to the thanks of 
 their country. 
 The tax on The duties impofed on domeftlc fervants, whilft they were confined 
 
 to men, met with fcarcely any oppofition, but the extenfion of the tax 
 to females was not fo favourably received. It was eftimated at 140,000/, 
 per annum. It produced, however, for the year ending Michaelmas 
 1788 only 31,860/. and is on the whole rather decreafing, having 
 yielded 34,512/. at Michaelmas 1787". It is a tax which cannot yet be 
 
 the immenfe bufinefs carried on under the management of the commiffioners of the excife 
 and of the cuftoms, will fee little difficulty in a board of refpeSable directors conducing 
 the fale of teas confumed in this country, in a manner ufeful to the company, and very 
 profitable indeed to the ftate. 
 
 ■J As the produce decreafes, it is a fign that the apprehenfions entertained that the tax 
 would have a tendency to dioiiniih the number of female fervants were Coo well founded. 
 
 10 juftified 
 
 fervants.
 
 OF THEBRITLSH EMPIRE. 
 
 M/ 
 
 juftified by the neceflities of the country, as other fources of revenue 
 might be fuggefted. Indeed every friend to the female fex (who ar<j 
 naturally under the protedlion of men) ought to unite in compelling the 
 repeal of an impoft fo obnoxious, cruel, unmanlike, and unproduc- 
 tive 'i iiir'mco 3rii 'io ariop-; ■ 
 
 «• The duty^ upon horfes, is perhaps, oh the whole, the beft of our Horfetax. 
 "f eeent taxes. It is not only a mode of increafmg the public revenue % 
 but is alfo in itfelf an ufeful regulation of police. The number of 
 horfes of late bred and maintained in Great Britain, is attended with 
 "many prejudicial confequences. For 'their fubfiftence, many fields that 
 would otherwife be devoted to the purpofes of agriculture, are laid down 
 in pafturage. This country alfo, unable to fupply itfelf with the oats 
 neceffary for tht confumption of its horfes, is obliged to procure confi- 
 derable quantities from abroad ; and fo general has the ufe of horfes 
 become in tillage, that oxen are feldom employed, though equally well 
 calculated for the purpofe. By the increafe of oxen, the food of the 
 people would be augmented*in quantity and diminifhed in price, two 
 material objefts for a commercial nation. It has been fuggefted indeed, 
 that it would not be impolitic to lay a fmall duty upon all horfes indif- 
 criminately, in addition to the prefent tax ; and if its produce, inftead 
 of being fent to the exchequer, were laid out in bounties to thofe who 
 made ufe of the greateft number of oxen, it might be attended with 
 ufeful confequences to ;the public. 
 
 The miferable ftate to which the domains of the crown are reduced The royal 
 (which at one period or another comprehended fo confiderable a part of °'"*'"'" 
 the land in England) is a fufficient proof how little territorial poireffions 
 are calculated for being the fource of national income. No property 
 could be better guarded than thefe poffeffions were, by innumerable 
 laws againft invafion. Yet art and avarice burft through every reftraint, 
 and have rendered them fo very infignificant in regard to the income 
 they produce, that until their real value was lately made known, they 
 wer£ hardly confidered as a part of the revenue of the country intitled 
 
 *■ The deficiency might be partly made up by doubling the tax upon blacks, foreigners, 
 and fervants out of livery. 
 
 » It was given only for ioo,ooo/. but it produces 108^360/. 
 
 U 2 to
 
 148 HISTORY OF THE PUBLIC REVENUE 
 
 to any particular attention. During the thirty-three years of the reign 
 of George the Second, the income they yielded was at an average only 
 5641 I. per annum^. Their amount during this reign has been equally 
 contemptible. In regard to their ftate at prefent, it is fufficiently ex- 
 plained in the reports of the commiffioners appointed to inquire into 
 the condition of the woods, forefts, and land revenues of the crown, 
 where the reader will be furnifhed with ample information on the fub- 
 jed:. 
 
 The landed pofleffions of the crown, it is remarked by the commif- 
 fioners, confift of three diftindt branches: — i. Of fee-farm and other 
 unimprovable rents. 2. Of landed poffefTions held of the crown by 
 leafe. 3. The woods, forefts, parks, and chafes. 
 
 The fee-farm rents are certain fums paid annually to the crown for 
 lands held in perpetuity by their prefent pofleffors, and confequently can 
 never be increaied or improved. The following is a ftate of their 
 amount : 
 
 Vifcontiel rents and felrures - JC831 16 5-^ 
 
 Rents in South and North Wales - 6342 i 2^ 
 
 Rents in feveral divifions of the counties of 
 
 England - , - - 5,462 i 5^ 
 
 Total ^12,635 19 2 
 
 T 
 
 Thefe are the fums the receipt of which is adlually anfwered or 
 •icknowledged by the different officers. But various other claims are 
 annually made to the amount of 14,877/. 9/. 8-^-^. v/ith fo little 
 juftice or attention, that the very arrears on that flender revenue have 
 accumulated to the enormous fum of 437,555 /. 7 s. ^d. Several crown 
 rents have been fold in confequence of an aft pafted for that purpofe ". 
 The money which the fale produced was fufficient to purchafe a capital 
 of 40,000/. in the 'iper cent, confolidated annuities. 
 
 The lands held by leafe under the crown are an obje£t of greater 
 importance. The old rents are eftimated at 10,563/. 12s. id. 
 New or additional rents are commencing at different periods to 
 the amount of 6221/. 2i.</. The fines paid, at an average of 22 
 years, are about 7,410/. per annum ^ and the real improved value of 
 
 ' Their produce during the whole reign was only 186,263 /. — See p. 58. note ". 
 « 26 Geo. III. cap. 87. 
 
 thefe
 
 OFTHEBRITISHEMPIRE. 
 
 thefe eftates, at a very moderate eftimate, has been calculated at 
 102,626/. l^s. \^d. per annum. 
 
 It is not propofed, however, to enter farther into the difcuflion of this 
 fubjedl at this time, as in fa£l this branch of the royal domains, together 
 with the third branch, namely, the woods and forefts, are rather to be 
 confidered as a foundation for future hopes, than as producing an in- 
 come at prefent of any material confequence. They will naturally fall 
 to be confidered therefore in the enfuing chapter, in which fome ac- 
 count will be given of the national refources. It will be fufficient for 
 our purpofe now to give the following abftrad of this branch of the 
 public revenue, drawn up by a very intelligent author, who had 
 official accefs to information refpedling it. 
 
 Grofs amount of rents - - ;iC 36,720 7 i 
 
 Fines for leafes on an average of ten years 7>7oo o 
 
 '4? 
 
 o 
 
 To be dedu£led. 
 
 Rents granted away, or ufually 
 
 left in arrear, - ^7)530 15 10 
 
 Land tax allowed and de- 
 ducted from rents received 3,505 12 7 
 
 41,420 7 I 
 
 21,036 8 5 
 
 Total annual receipt ;C 23)883 18 8 
 Other dedudtions. 
 Charges of management 35999 8 3 
 
 Perpetual penfions and grants to 
 
 individuals, - 4>794 '7 7 
 
 Salaries to the keepers of pri- 
 
 fons, caftles, ?5'r. - 991 07 
 
 Salaries to the judges and other 
 
 officers in Wales - i>446 10 9 
 
 Commiffioners of taxes, and in- 
 cidents in their office, 1,322 o o 
 
 ' 12,553 17 2 
 
 Net produce /" 10,830 1 6^^ 
 
 » Obfervatlons on the Land Revenue of the Crown, by the Hon. John St. John. 
 
 Such
 
 ~ip HISTORY OF THE PUBLIC REVENUE 
 
 Such is ihe whole income drawn from 130 manors, about 52,000 
 acres of arable, meadow, and pafture land, about 1800 houfes in Lon- 
 don and Weflminfter, and about 450 houfes, mills, and cottages, in 
 various other parts of England. Who can doubt that this country is 
 ftill miftrefs of fome refources, if (he chufes to make ufc of them " ? 
 Hackney As far back as the year 1662, four hundred hackney coaches were 
 
 coaches, Hcenfed in the cities of London and Weftminfter "^ ; but the fum exafted 
 
 from them was then appropriated for the purpofe of repairing the high- 
 ways and fewers, and of paving and cleaning the ftreets of the metro- 
 polis ; nor was it difcovered, until the year 1694, that this might be- 
 come a branch of the public revenue. 
 
 By the firft adt pafled for that purpofe * permiflion was given to 
 licenfe a number not exceeding yoo hackney coaches ; each licence to 
 continue for 21 years, upon payment of the fine of 50/. and giving 
 fecurity for the adaitional fum of 4/. per annum ; and a board of com- 
 mifhoners was appointed for granting licences, and for executing the 
 'different powers contained in the ad. *rhe number was increafed, in 
 the reign of Queen Anne, to 800 coaches ", and the commiflioners 
 were alfo inverted with authority to licenfe hackney chairs, not ex- 
 ceeding 200, at the rate of 10 fhillings per anniim^ which number was 
 increafed firfi: to 300, and afterwards to 400'. Atino 1770, a thoufand 
 hackney coaches were permitted to be licenfed, and the fum of ^s. per 
 week, or iT^l.per wimim^ was impofed upon them. That duty has fmce 
 been doubled, confequently they now pay at the rate of 26/. each^^r 
 
 annum ''. 
 
 It is difficult to comprehend how fo large a fum can be afforded for 
 fuch a permifhon. Certain however it is, that there is no want of ap- 
 plications for licences, and confequently the trade mufl: be fufficiently 
 profitable. It furnifhes a fatisfadtory anfwer to thofe who complain of 
 
 " It is only fince the ift Geo. III. cap. r. that the royal domains, the hereditary and 
 temporary excife, and other civil lift revenues, have become a part of the national income. 
 Ever fmce the acceflion of his prefent majefty, the crown has received from the public a 
 certain fixed rent-charge or annuity, and has thrown its particular refources into the gene- 
 ral fund. 
 
 ^ By 3 and 4 Car. II. cap. 2. '5 and 6 Will, and Mary, cap. 22. 
 
 * 9 Anne, cap. 23. ^ See 9 Anne, cap. 19. Alfo, 12 Geo. I. cap. 12. and 16 
 
 Geo. II. cap. 26. The number of chairs have fmce been again reduced to 200. 
 
 '' 24 Geo. III. cap. 27. 
 
 the
 
 OF THE BRITISH EMPIRE. 151 
 
 the funis In which they are taxed by government for the liberty of car- 
 rying on their different profeflions (as attorneys, dealers in excifeable 
 commodities, 'bfc.) ; for here fo high a duty as 26/. a year is paid, 
 after deducing which, the profits of the bufinefs muft maintain a 
 coachman and two horfes, and muft contribute to the repairs of the 
 carriage and the maintenance of its owner. 
 
 But the principal caufe for taking any particular notice of this branch 
 of the revenue, is an idea that has often occurred to the author of this 
 work ; that a transference of the duties upon fervants to this office, and 
 intrufting to this board powers over domeftic fervants fimilar to thofe 
 which they now enjoy in regard to hackney coachmen, would be, in 
 many points of view, an advantageous regulation. The want of po- 
 lice, in regard to fervants, is a great public difadvantage. If they knew 
 that there exifted a fummary jurifdiclion, with power fufficient to pu- 
 nifh thofe petty frauds (which with them is the commencement of every 
 fpecies of crime), they would be lefs apt to. -give way to temptations, 
 which at prefent they find it difficult to refift. And the good confe- 
 quences which have refulted from intrufting thefe commiffioners with 
 authority over hackney coachmen (who would otherwlfe have been a 
 race of men totally ungovernable) tend to juftify the idea, that intruft- 
 ing the fame board with fuch powers over fervants as might be necefTary 
 for their regulation, would be an advantageous meafure both to them 
 and to the public % 
 
 It is natural for landed gentlemen to be prejudiced in favour of any Shop tax. 
 tax that feems to affedl merely the mercantile or monied intereft ; and 
 hence the fhop tax has not been unpopular with perfons of that defcrip- 
 tion. Whether a tax upon fhopkeepers, by means of a moderate 
 licence, might not have been impofed, is a different queftion '. But 
 fure I am, that it was hardly poffible to juftify it on the weak grounds 
 ©n which it was attempted to be defended. The truth of this aflertion 
 •will more particularly appear from the following narrative : 
 
 ' If domeftic fervants could not be put under the control of this board, it would at leaft 
 be ufeful to invefl: them with fome authority over the porters in the city of London, parti- 
 cularly thofe who carry parcels from inns, who have no bounds in the exorbitancy of their 
 demands. 
 
 ' The tax on tea dealers is in fa£t a fhop tax, and has never been complained of, though 
 it brings in above 13,500 /» per annum. 
 
 la
 
 152 HISTORY OF THE PUBLIC REVENUE 
 
 In the year 1788-9 ^, certain additional duties were Impofed on in- 
 habited houfes; to wit, 6d. in the pound on all houfes from 5 to 50/. 
 perycaTy and a fnilling in the pound on all houfes above that fum. 
 This fund proved greatly deficient ; in confequence of which thefe 
 duties were repealed, and by another adl*", 6d. in the pound was im- 
 pofed on all houfes from 5 to 20/. a year, gd. in the pound on all 
 houfes from 20 /. to 40 /. and i s. in the pound on all houfes 
 above 40 /. a year. On that occafion, when the faid tax was 
 pafhng through the houfe, it was moved, " That all houfes of 40/. 
 " a year, or upwards, that had a fliop or (hops attached to them, fhould 
 " be charged no more than gd. in the pound." The motion was 
 grounded upon this argument, that the Ihop was the principal caufe of the 
 dearnefs of the rent, and that the tax was, in fuch inftances, more upon 
 the trade than the ability of the inhabitant. The amendment, however, 
 vi'as over-ruled. But it is evident that if, in the opinion of many 
 gentlemen, it was held to be opprefTive to impofe above gd. in the 
 pound upon the rents of houfes having fhops, it was unqueftionably 
 ftill more cruel and unjuft, when a fhilling in the pound was charged 
 at that time, to impofe the farther fum of two {hillings in the pound, 
 according to the rent paid for the fhop and houfe, in addition to the 
 other duties to which houfes were fuhjedi '. 
 
 This miferable inftance of minifterial obftinacy and ignorance being 
 at laft repealed, with the concurrence of the perfon who propofed it, it 
 feems unneceflary to dwell upon that want of principle by which it was 
 fo pre-eminently diftinguiflied. To think of alTeffing a tax, not ac- 
 cording to the rent that one receives, but to the rent that one muft 
 pay '' ; or taxing (as has been well obferved) not the chance of profit 
 but the certainty of lofs, namely, the perpetual and unavoidable debt 
 for a fliop and houfe ', was the height of cruelty and opprefTion. It 
 is ungular that it fhould require the experience of three years, and the 
 profped: of a general election, before the minifter could be brought to 
 acknowledge the manifeft injuflice and abfurdity of the meafure. 
 
 « By 18 Geo. III. cap. 26. t" ig Geo. III. cap. 59. 
 
 ' By 25 Geclir. cap, 30. all houfes with fliops above 25 /. a year of rent, were charged 
 with 2s. in the pound. 
 
 "Who ever thought of taxing the rent paid hy a farmer, without giving him an oppor- 
 tunity of Indemnifying himfelf at the expence of his landlord ? 
 
 ' See De Lolme's Obfervationson the Taxes upon Windows and on the Shop Tax, p. 93. 
 
 But
 
 OF THE BRITISH EMPIRE. 153 
 
 But though fhops, on the pnriciples that were lately enforced, feem to Hawkers and 
 have been an improper fource of public income, yet itinerant retailers, P^ ■*'^' 
 known under the name of hawkers, pedlars, or petty chapmen, have 
 long been an objed; of taxation, partly for the fake of revenue, but 
 perhaps principally for the purpofes of police "". It was anno 1697 '^^^'• 
 this licence duty was firft impofed. Perfons travelling on foot were 
 charged with a duty of 4/. and 4/. additional were impofed on fuch as 
 made ufe of horfes for tranfporting their merchandife. Thefe duties 
 were doubled by an a£t pafled anno 1 785 ", by way of a boon to the 
 fhopkeepers, and a recompence to them for the burdens to which they 
 •were fubjefted. But when the tax upon fhops came to be repealed, 
 thefe additional duties fell of courfe. Ideas were thrown out, when the 
 fhop-tax was pafled, that the hawkers and pedlars ought to be totally 
 abolifhed. It was contended that they were a vagrant, and even per- 
 nicious race of people, of no pofllble advantage to the community. It 
 was natural for the fhopkeepers to wifh for the annihilation of the only 
 fet of perfons who enter into any convpetition with them. But how- 
 ever obnoxious the rivalfhip might be to thofe who have a permanent 
 refidence in towns, whofe profits however by this rivalfhip are reftrained 
 •within proper bounds, yet ftill there are many parts of the country at a 
 diltance from market towns, that could not be wrell fupplied with many 
 articles neceffary for them, without the afhftance of thefe itinerant 
 dealers, who thus are the means of extending the confumption of our 
 own manufactures, and the fale of goods that might otherwife perifh in 
 the warehoufes of our merchants, or in the fhops of the retailer. This 
 tax however is falling off in produce, and as the country improves, and 
 ■new towns or villages are built, -vvull naturally diminifh every year. 
 Anno 1723 it yielded 10,773/. of grofs, and 8,604/. °^ "^^ income; 
 whereas rt«//o 1 788, in confequence of the exorbitant taxes demanded 
 from the hawkers and pedlars, and the harfh and cruel regulations to 
 •which they were fubjecHed, it fell off to 21 70/. of net produce. 
 
 But it is now full time to furnifh the reader with an abflra(3: of the 
 prefentflate of our revenue, as it was paid into the exchequer, free of all 
 charges, in the courfe of the year ending Michaelmas 1788. 
 
 ■ They were firft put under the control of the commiffioners for tranrportation. 
 " 25 Geo. III. cap. 78. 
 
 Part III. X
 
 1^4 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 GENERAL VIEW of the REVENUE, from Michaelmas 1787 
 
 to Michaelmas 1788. 
 
 I. Temporary Taxes. 
 
 1. Land tax > - - ^C 1,950,000 
 
 2. Malt tax - - -. 600,000 
 
 2,55o>ooo 
 
 2. Perpetual Taxes. 
 
 1. The cuftoms _ - - 3,789,274 
 
 2. The excife (deducing the annual malt tax as above) 6,151,727 
 
 3. Stamps - - - - 1,278,214 
 
 4. Milcellaneous taxes or incidents - 1,803,755 
 
 Total £ 15,572,970 
 
 Even this fum, great as it may appear, fhould we be fortunate enough 
 to enjoy fruitful feafons, fhould our commerce continue to flourifh, and 
 ihould deftrudive and expenfive wars be avoided, will every year in- 
 creafe in its amount. 
 
 Theoretical writers are far from agreeing in opinion, whether it is 
 better to raife a revenue by one, by a few, or by a number of taxes. 
 
 In favour of a fmgle duty, it has been urged that it is attended with 
 little inconvenience, that it renders many public offices unneceflTary, and 
 that it prevents the numerous difadvantages to the population, induftry, 
 and wealth of a country with which excifes and cuftoms are at- 
 tended. 
 
 The firft plan of that nature propofed in this country is attributed to 
 Sir Matthew Decker. — His idea was, to lay all our taxes upon houfes. 
 He calculated that there were 1,200,000 houfes in England alone : That 
 100,000 might perhaps be uninhabited: That 500,000 might be inha- 
 bited by the inferior clafles of people, who ought to be exempted : and 
 that a duty of 10/. each on an average, varying according to the wealth 
 of the pofTefTor, on the remaining 600,000 houfes, would raife fix 
 millions^ the fum which, anno 1743, was fuppofed to be fufficient for 
 
 every
 
 OF THE BRITISH EMPIRE. jj.j- 
 
 every neceflary public purpofe; and thus all other taxes might be abo- 
 liflied. Perhaps fuch a plan might have anfwered when fo fmall a fum 
 would have fufEced ; but now, when fixtcai inftead ol fix millions 
 muft be levied, it has evidently become impradlicable. 
 
 Others have fuggefted, that in order to procure a revenue of fixteen 
 millions ^(?r i3«;«/OT, four millions ought to be raifed by an equal land tax, 
 four millions more by a duty upon houfes ; a third fum of four millions by 
 a tonnage duty upon fhips ; and a fourth by affeflments upon the income 
 of each individual, not arbitrarily eftimated, but depending upon the 
 following criterions, namely, the nature of the houfe that he inhabits, 
 the equipages he poflefles, the horfes be maintains, and the number of 
 his fervants. 
 
 Laftly, it has been faid, let each diftridt have it in Its power to be 
 exempted from all the exifting taxes, upon paying Into the exchequer 
 the net revenue that it now fupplies, without the expence of colle£lion. 
 
 There is every reafon to doubt the propriety of adopting any pro- 
 pofal of this nature. Great innovations in fo important a branch as that 
 of the revenue ought to be avoided. If the plan does not fucceed, who 
 can anfwer for the confequences which may refult from it to the wealth 
 of the ftate and the happinefs of the people ? Indeed, whatever 
 theorifls may imagine, it w'ould not be found an eafy matter to prevail 
 upon the people punftually and regularly to pay to the officers of the 
 exchequer their proportion of the public burdens, if accumulated into 
 one fum. A load which a man cannot carry off at once, he may be 
 able gradually to remove. In the fame manner, thofe taxes which, if 
 demanded annually, or even every fix months, would appear enor- 
 mous ; when flowly required, and imperceptibly levied through the 
 medium of confumption, are paid without difficulty or reludancc. 
 
 The principal arguments in favour of fuch great alterations are, 
 that they would fave confiderable fums in the expence of collodion ; 
 that they would render a multitude of public officers unneceflary ; and 
 that the people would pay much lefs for the commodities which they 
 confume. 
 
 As to the firfl:, it is to be confidered, that the expence of colledion 
 cannot by any means be totally abollfhed, and that however econo- 
 mical the plan might be when originally formed, yet it wouhl be 
 
 X 2 difTicult
 
 ,56 HISTORY OF THE PUBLIC REVENUE 
 
 difficult to prevent thofe who are in power from making perpetual 
 additions to it, under very plaufible pretences ; and hence in procefs of 
 time the gain could not be very confiderable. 
 
 With regard to the public officers, whatever may be the cafe in 
 other countries', in Great Britain I am fure they are not fo very nu- 
 merous, that employing them in any other manner would be pro- 
 dudlve of any important confequences. The number is nearly as 
 follows : 
 
 ACCOUNT of the Number of OFFICERS employed in the 
 Colledtion of the public Revenue. 
 
 In ENGLAND. 
 
 Number of Officers, 
 
 f In the port of London - 1,606- 
 
 Cuftoms. ^^^ ^^^ °"^-P°l'^« - - '^'^'11 
 \ In the plantations - - I'iS 
 ^ 4,618 
 
 Excile - . - - 4>477 
 
 Stamp office - - - - 132 
 
 Office of taxes - - - - 251 
 
 Salt office _ - - - - 4713 
 
 Hackney coach office - - - 13 
 
 Hawkers and pedlars - - • - 23 
 
 Office of alienations - - . - j 
 
 Hanaper office - » « - 2 
 
 10,002- 
 
 In SCOTLAND. 
 
 Cuftoms - - - 639 
 
 Excife - - - - 627 
 
 Salt office - - -^ 120 
 
 Stamps, £sff, - ■- — ^^ 
 
 1,466 
 
 11,468 
 
 • In France, accoidijig to M. Nccker, vol. i. p. 198, the revenue officers amount to 
 45O3OOOV
 
 OF THE BRITISH EMPIRE. t-st- 
 
 The account of officers employed ia the department of the cufl:om<;, 
 is taken from the fourteenth and fifteenth reports of the commifficners 
 of the pubUc accounts ; and the number of the other officers from 
 certain papers laid before parliament, fuppofed to comprehend the 
 complete cftablifliment of the public offices throughout the kingdom, 
 as they flood on the 5th of January I779^ The accounts however, 
 contained in thefe papers are confufed and defedlive. The number of 
 cuflom-houfe officers is ftated only at 3,815, inflead of 4,618, as. 
 reported by fhe commifficners. It is farther to be remarked, that the 
 account of the officers of the cufioms does not include a number o£ 
 inferior attendants who are occafionally employed in the management 
 of that branch of the national income. On the whole, the number o£ 
 revenue officers in Great Britain, permanent and occafional, may 
 probably amount to about 1 2,500, which cannot be confidered as 
 exorbitant, and one half of whom would be neceffary under any 
 plan by which from fifteen millions and a half to fixteen millions could 
 be colleded. 
 
 As to the third argument : v/hen once any article has been long fold 
 at any particular rate, it is very . difficult to reduce it to its proper 
 value. Taxes upon confumption having been impofed, and the price 
 of different commodities having rifen accordingly, though the taxes 
 were to be abolifhed, yet if the demand continued the fame, and if no 
 greater quantity were produced, no material alteration in point of 
 value could be expected. The difficulties that are found in procuring 
 an adequate redudiion in the price of tea, notwithflanding the com- 
 mutation ad, fully proves the many obftacles that would attend a ge- 
 neral fyflem of that nature. 
 
 But the taxes paid into the exchequer are not the only burdens to 
 •which Great Britain is liable ; nor is England the only part of his 
 majefly's dominions in this quarter of the globe from which a revenue 
 is drawn : and as the reader may be defirous of having fome idea of 
 fo important a fubjedl laid before him, it is therefore propofed to 
 conclude this chapter with a general view of the fums raifed in the 
 European parts of the Britifh empire, for public purpofes, in fo far as 
 
 f They are printed in the Parliamentary Regifter for that year, vol. xvi. 
 
 the
 
 158' HISTORY OF THE PUBLIC REVENUE 
 
 the fame can be afcertained ; the Information refpe£ling feme of the 
 branches inckided in the account being very defedive. 
 
 General view The net income of Great Britain, payable into the exchequer at 
 
 He burdens prefent, may be calculated at about 15,500,000/. 
 
 of Great Bri- -j-]^^ falaries of the officers of the cuftoms in England, with the in- 
 
 tain and Ire- 7 
 
 land. cidents in that department, amount to 383,294/. 
 
 The fees paid by private individuals to the officers of the cuftoms, in 
 addition to the falaries received from the public, is about 115,800''/. 
 The duties colledted in the plantations cofi; cvifio 1787 the fum of 
 
 7»454^- 
 
 The bounties payable at the port of London, a?ifio 1788, amounted 
 to 309,818/. to which there is to be added about 120,000/. paid at the 
 out-ports. 
 
 The duties of excife are collefted at the following expence : 
 
 Salaries . - -. _ 
 
 £ 
 
 288,638 
 
 Riding charges « - - 
 
 - 
 
 9,874 
 
 Incidents - - _ - 
 
 
 72,060 
 
 Fees and charges _ _ - 
 
 - 
 
 1,406 
 
 Poundage, ^c. _ _ _ 
 
 - 
 
 3.090 
 
 Allowance to colledors, ^c. 
 
 - 
 
 727 
 
 Rent for the excife office 
 
 - 
 
 494 
 
 Taxes repaid, exadled from inferior officers 
 
 - 
 
 34,226 
 
 4I0.515 
 Bounties and allowances. 
 
 Allowance for foap and ftarch confumed in the 
 
 linen and woollen manufadlures jT 22,873 
 
 Bounty on beer and fpirits exported ii>94i 
 
 34,814 
 
 I 445.329 
 
 1 The expence of the cuftoms is taken from the fifteenth report of the commiflioners of 
 the public accounts. 
 
 1 3 The
 
 OF THE BRITISH EMPIRE. r.59. 
 
 The expence of the flamp office is as follows : 
 
 Incidents - - - _ ^ 23,048 
 
 Salaries ' - - - - 1 3*5 10 
 
 Stationers bills - . _ - 8,608 
 
 Poundage - - - _ 5,525 
 
 Part of the duty on almanacks paid to the two unl- 
 
 verfities - - - « 1,000 
 
 ;^ 5^691 
 
 The charges of the fait office, anno 1788, amounted to 31,962/. of 
 ■which 27,204/. was paid for falaries and management, and 4,758/. for 
 bounties on tifh exported. 
 
 The various difburfements in the department of the poll-office 
 amount to 122,^64/. 
 
 The expenses incurred in the office of taxes may be thus dated : 
 
 Commiffioners, clerks, Sffr. '~ ' £ 4»ooo 
 
 Poundage on land-tax in England - - 53 j5 74 
 
 Expence of window-tax, ^c. - - 60,100 
 
 Total £ 117,674 
 
 Various fmaller branches coft the following fums : 
 
 Hackney coaches - ' ' jC 2,260 
 
 Hawkers and pedlars _ _ - 3>29t 
 
 Firft-fruits and tenths - - - 581 
 
 Sixpenny duty on penfions - - - 706 
 
 One fhilling deduction from ditto - - ^S^ 
 
 Alienation office . - _ , y6o 
 
 Hanaper office - - • - S^j 
 
 D n ■ I 
 
 jC 8,494
 
 ^6o HISTORY OF THE iPUBLIC REVENUE 
 
 The deductions from the revenue of Scotland are nearly as fol- 
 lows : 
 
 I. Bounties - £ ^2)^°?>5 
 
 I. Cufloms I 2- S'-^'^"^*^ - ^°'9^7 
 
 3. Incidents - 27,093 
 
 r I. Salaries - 3»i59 
 
 2. Salt office 2- I"'^'^^^"^^ - ''-588 
 
 (3. Bounties - 3,755 
 
 , Excife J ^- ^^^^"^' ' ^^'"^"-^ 
 
 ^' \ 2. Incidents - 45,000 
 
 £ 111,045 
 
 8,502 
 70,425 
 
 r Salaries of the coUedors of land- 
 I tax paid by the different dif- 
 4* ^^"^'f < trids, fees of cuftom-houfe of- 
 I ficers, poft office, (lamps, ^c. 
 L in all about - - 12,000 
 
 £ 201,972 
 
 Such are the dedudions from, or the additions that might be ftated 
 to, the net income as paid into the exchequer. The reader will eafily 
 perceive from the preceding accounts, how difiicult it is to afcertain the 
 real expences of colleftion : but as they mufl vary every year, mi- 
 nute accuracy is not elTential ; and the following ftatements, though 
 not perfe£lly exa£t, may anfwer every neceflary purpofe : at leaft, they 
 are a furer bafis for calculation than any hitherto publilhed.
 
 OF THE BRITISH EMPIRE. i6i 
 
 GENERAL VIEW of the EXPENCE of colleding the public 
 
 Revenue in Great Britain. 
 
 1. Salaries and incidents in the cuftom-houfe 
 
 department _ - . ^ 383,291 
 
 2. Fees paid by individuals - - 115,800 
 
 3. Charges in the plantations - - 7j454 
 
 Total cuftom houfe 506,548 
 
 4. Charges in levying the duty of excife - 410,515 
 
 5. Expence of the ftamp office - - 51,691 
 
 6. Expence in the fait office - - 27,204 
 
 7. Charges in the office of taxes - - 117,674 
 
 8. Hackney coach office, and other fmall branches 8,494 
 
 1,122,126 
 
 9. Difburfements in the poll office - 122,564' 
 10. Charges in Scotland (deducting bounties) - 135,182 
 
 Total £ i,379»S72 
 
 The expence of bounties, which is in fait paid out of the national 
 income, is the next point to be afcertained. 
 
 GENERAL VIEW of the BOUNTIES paid in Great Britain for the 
 
 Year 1788. 
 
 1. 'Bounties paid in the port of London - £ 309,818 
 
 2. Bounties paid at the out-ports - - 120,000 
 
 Carried over £ 429,818 
 
 ' The expences of the poft office are kept feparate, it being held by fome that what is 
 gained by that cepartment is all clear profit. But I cannot fubfcribe to that opinion : the 
 diiburfements of that office altogether arife from money paid by, and exafted from the 
 public, as well as the expences of the excife, and other branches of the revenue j and con- 
 fequently ought to be included in the grols income of the country. 
 
 Part III. Y
 
 i62 HISTORY OF THE PUBLIC REVENUE 
 
 Brought over £ 429,818 
 
 3. Allowances and bounties paid by the excife 345814 
 
 4. Bounties on filh exported paid by the fait office 4>758 
 
 5. Bounties paid out of the cuftoms in Scotland 63,035 
 
 6. Bounties paid out of the Scotch fait office - 3,755 
 
 pC 536,180^ 
 
 This, when joined to the charges of colledllon, amounts to the fum 
 of 1,916,052/. which is exadted from the public, in addition to the 
 net income of 15,500,000/. paid into the exchequer, making in all a 
 grofs produce of about 17,400,000/. 
 
 Here it may be proper to give fomc idea of the rate at which this 
 immenfe revenue is colleded. 
 
 The grofs produce being 17,400,000/. and the total expence of col- 
 leftion being 1,379,872/. it follows that the whole revenue is colleded 
 at an average of 7^- ^er cent. 
 
 The grofs produce of the cuftoms, including the fees received by 
 the officers, being 4,725,640/. and the charges of colledlion being 
 506,548/. it is evident that the expence of the cuftoms is about io-|- 
 per cent. 
 
 The grofs produce of the excife being 7,196,056/. and the expence 
 of coUedlion being 410,515/. it follows that the rate amounts to about 
 SU or si per cent. 
 
 The ftamps are colleded at the expence of '^^ per cent, the grofs 
 produce being 1,329,905/. and the charges 51,691/. 
 
 The duties on fait coft ^^per cent, the grofs produce being 408,892/. 
 and the dedudtions on account of colledion being 27,204/. 
 
 The land-tax is undoubtedly colleded at the cheapeft rate, bein^ 
 under even 3/^^ cent, but the public is obliged on that account to 
 permit confiderable balances to remain in the hands of the different 
 receivers, which they make ufe of for their own emolument ; their 
 
 • No notice is taken of drawbacks in this account, as in fa£t they produce neither 
 profit nor iofs to the exchequer, the public giving with one hand, what it receives with 
 the other : whereas bounties are a real expence, but attended with political advantages. 
 
 6 offices^
 
 OF THE BRITISH EMPIRE.^ ,63 
 
 offices, It Is faid, not being otherwife adequate to their rifk, trouble, 
 and expence. 
 
 Such is the grofs amount of the revenue, and the charges of col- 
 leftion : but to this various other fums muft be added, in order to give 
 a complete view of the fums levied in thefe kingdoms for public 
 purpofes. 
 
 The poor's rates, from the reports of the committee appointed by The poor's 
 parliament to confider the returns made by the overfeers in regard to "'*^* ^^' 
 the flate of the poor, may be calculated on a medium of three years, 
 ending anno 1785, at 2,100,587/'. to which there is to be added 
 258,710/. per annum of charitable donations, making in all 
 
 2,359>297^- 
 
 The income of the public hofpitals in England and Scotland may 
 be ftated at 250,000/./ Greenwich hofpital alone receives from fixty 
 to 70,000/. a-year, without fharing in any part of the public income : 
 the fixpenny tax upon feamen, its landed eftates and property in the 
 funds, producing that fum". 
 
 The money arifmg from turnpikes in England and Scotland muft 
 be very great, amounting to at leaft 500,000/. per annum; and as 
 many roads are made by aflcfTment for the benefit of particular dif- 
 tri£ls, for which no toll is demanded, and in fome places ftatute labour 
 is exaded in kind, it is probable that 100,000/. additional is annually 
 expended for fimilar purpofes. 
 
 An immenfe income is enjoyed by the diiferent towns and corpora- 
 tions in England. London alone poflefles a revenue of 120^000 1, per 
 annum. The whole cannot be calculated at lefs than 500,000/. a-year 
 in England, and 100,000/. in Scotland. 
 
 A variety of taxes are levied upon the people on navigable rivers, 
 canals, and the ferries, amounting perhaps to 150,000/. a-year. 
 
 The expence of lighting and watching the different towns in the 
 kingdom, and the roads in the neighbourhood of the capital, and in 
 making and repairing the llreets, is greater in this country than in any 
 other part of Europe, and cannot be calculated at lefs than 200,000/. 
 a-year. 
 
 • This includes certain fums levied for county purpofes. 
 
 "In Chapter V. fome account will be given of the revenues of Greenwich hofpital. 
 
 Y 2 . In
 
 164 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 In the above fum of fifteen millions and a half, only the furplus re- 
 venue of Scotland is contained, after dedudting the expence of the 
 civil eftablifhment, and other neceflary charges in that country : hence 
 arifes an addition of about 100,000/. per a?iuum. 
 
 The money levied in Ireland, including the charges of colledion, 
 the bounties payable in that country, the tolls therein exaded, the 
 eftates of the different corporations, and the expence of the poor, of 
 lighting their towns, the public hofpitals, ^c. will amount to at leaft 
 2 fioo^oool. per annum. 
 
 Hence the money levied for public purpofes, in the European part 
 of his Britannic majefty's dominions, may be ftated as follows : 
 
 STATE of the SUMS levied for public Purpofes in Great Britain 
 
 and Ireland. 
 
 1. The net produce of the revenue paid Into the 
 
 exchequer of England - . £ 15,500,000 
 
 2. Charges of management and colledllon 1,379,872 
 
 3. Bounties and allowances - - 536,180 
 
 Poor's rates and county expences 
 Charitable donations for the poor 
 Public hofpitals, including that of Greenwich' 
 Turnpikes in England and Scotland 
 Parochial affeffments and ftatute labour 
 Income of the towns and corporations In 
 England - _ _ _ 
 
 Ditto in Scotland _ _ _ 
 
 11. Navigable rivers, canals, Ssff. 
 
 12. Lighting, watching, and paving the ftreets 
 
 13. Civil eftablifhment of Scotland 
 
 14. Income and taxes of Ireland 
 
 4- 
 
 5- 
 6. 
 
 7- 
 8. 
 
 10. 
 
 17,416,052 
 2,100,587 
 258,710 
 250,000 
 500,000 
 100,000 
 
 500,000 
 100,000 
 150,000 
 200,000 
 100,000 
 2,000,000 
 
 £ 23,725,349 
 
 * Chelfea hofpital is paid out of the public revenue : Greenwich hofpital out of its own 
 peculiar funds. 
 
 This,
 
 OF THE BRITISH EMPIRE. 16; 
 
 This, multiplied by 24, makes in French livres 569,408,376. The 
 taxes of France, according to M. Necker, amount to 585 millions of 
 livres, or 24,375,000/. fterling*. The difference is 649,651/. in 
 fterling money, or 15,590,624 livres. 
 
 Let it not be imagined that the author has any defire to exaggerate, 
 in thefe accounts, .the burdens with which this country is loaded. 
 No man would wifh to do fo who has any feeling for his fellow- 
 citizens, or any tincture of humanity. On the contrary, by ftating 
 how much is already exa(5led, it will be apparent that lefs can be af- 
 forded for the future. The more the people are loaded, the lefs they 
 can bear in addition : the ftruggle therefore between rival nations, and 
 the boaft and glory of their ftatefmen, ought to be, not who pays the 
 moft, but from whom the leaft is exadled. May fuch be the great 
 fource of competition between France and England ; may the rulers 
 of both kingdoms contend for the future, whofe adminiftration fliall 
 prove the lighteft and leaft burdenfome ; and may the rivalfliip never 
 ceafe, until both countries attain fuch eafe and abundance, that in the 
 memorable words of Henry IV. of France, " Le plus pauvre put, 
 " tous les dlmanches mettre une poule au pot ;" or, in the plain lan- 
 guage of this country, until the pooreft labourer can enjoy a com- 
 fortable dinner with his family on Sunday ! 
 
 >■ In the Treatife on the Adminiftration of the Finances of France, vol. iii. chap, xxxiii. 
 the amount of the French taxes is ftated at fix hundred millions of livres; but that is 
 merely done for the fake of round numbers. The particulars whence the 585 millions are 
 drawn, maybe feen in vol. i. chap. i. Some articles however are left indefinite, as the 
 burden of being liable to ferve in the militia, that of providing quarters for foldiers, and 
 the indirect tax proceeding from fmuggling, all which exift in Great Britain, as well 
 as in France. This refpeclable author (vol. i. chap, ii.) calculates the Britifh taxes at 
 427,000,000 of livres. But Ireland is not at all mentioned in the ftatement ; and when 
 his work was originally publiflied (anno 1785) the real ftate of our finances had not been 
 fully afcertained.
 
 j66 HISTORY OF THE PUBLIC REVENUE 
 
 CHAP. IV. 
 
 Of the national Refources. 
 
 IT has unfortunately been of late too common a pradlce for even 
 refpedlable individuals to lay before the public very exaggerated 
 accounts of the dangerous ftate of the national finances. The more 
 our difficulties increafed, the greater pleafure they feemed to take in 
 announcing our fituation to our enemies, in damping the exertions of 
 thofe by whofe judgment and abilities alone we could poffibly be ex- 
 tricated from the embarralTments in which we were involved ; and in 
 proving to what fatal lengths even valuable characters may be led in 
 fupport of a favourite hypothefis. 
 
 As a perfon anxious to promote the honour and profperity of his 
 native country, I have uniformly entered my proteft againft the ge- 
 neral tendency of fuch performances. Every attempt to affign a pe- 
 riod, however remote, for the ruin of a large community, ftrikes me 
 as highly impolitic. Nature has wifely rendered the exiftence of the 
 individual uncertain, left the fear of death Ihould embitter his days, 
 and difcourage him in every purfuit, however great or laudable. 
 What reafon then can be affigned, why the order of nature fhould be 
 reverfed when empii^es are in queftion? Difpirited nations, like di- 
 fpirited individuals, are incapable of vigorous efforts to extricate them- 
 felves from danger : befides, the apprehenfion of evil is juftly ac- 
 counted more dreadful than its real exiftence. 
 
 Above all, fuch defponding ideas ought to be difcountenanced in a 
 country which has long been confpicuous for popular difcontent during 
 as flourifhing circumftances as perhaps a nation ever knew. Whether 
 this originates from the natural turbulence of a free people, or from 
 the gloomy atmofphere that we breathe, certain it is, that the inha- 
 bitants
 
 OF THE BRITISH EMPIRE. 
 
 bitants of this ifland have for this century pail been uniformly la- 
 menting the miferies of their pubHc fituation, and the world has been 
 ftunned with perpetual prognoftications that immediate ruin was ine- 
 vitable. Fortunately, however, debts and taxes, though not a little 
 diftreffing when they become confiderable, are not alone fufficient 
 to effed the ruin of a nation ; and there is ftill reafon to hope, that as 
 we now ridicule the ill-founded defpondency of our anceftors, who 
 imagined that incumbrances to the amount of fifty or a hundred mil- 
 lions would reduce them to a ftate of bankruptcy, fo our pofterity 
 will laugh at the folly, the ignorance, or the want of political Ikill and 
 judgment in the ftatefmen and politicians of thefe times, who prefume 
 to affert that we have totally exhaufted our refources ; and that the 
 period is at lafl arrived when the nation muft either deftroy her debtSj- 
 or her debts will deftroy the nation^. 
 
 But as the heft means of refuting fuch gloomy apprehenfions, it is 
 propofed to give a concife view of the financial refources which 
 Great Britain ftill pofTefles, under the following general heads > namely, 
 1. Oeconomical arrangements. 2. Improvements in the 
 existing revenue. 3. additional taxes. 4. lucrative 
 PROJECTS ; which the public may eafily execute with confiderable 
 advantage. 
 
 1. OECONOMICAL ARRANGEMENTS. 
 
 Frugality, fays Cicero^ is the beft fource of revenue, both to indi- 
 viduals and to the public'. It is unqueftionably the firft principle that 
 ought to be kept in view, in the management of the finances of a 
 nation. Whilft money can be faved either by cutting off unneceflary 
 offices and gratuities, or by checking ufelefs expences, no rainifter 
 ought to apply for an augmentation of impofts. It is only by a ftridt 
 and inviolable attention to fuch a fyftem, that the rulers of a burdened 
 
 » Thefe fentiments were originally contained in the traft intitled, " Hints addrefled to 
 the Public on the State of our Finances," publifhed aww 1783 ; at which time the author 
 was aimoft the only perfon in the kingdom who maintained that the refources of this 
 country were adequate to the public neceffities. 
 
 » Optimum, et in privatis familiis et in republica, vedigal eft parfimonium. Dc 
 
 Repub. 4. 
 
 peoplcr 
 
 167
 
 i68 HISTORY OF THE PUBLIC REVENUE 
 
 people can flatter ihemfelves that a nation will long remain in quiet 
 fubjedion : for nothing can be more galling to thofe who are op- 
 prefled and overloaded, than to fee others wallowing in riches extorted 
 from them by the chicanery and artifices of finance, whilft they can 
 but barely furnifh themfclves with the means of fubfiftence. 
 i.Oeconcmy There is no point, in an ceconomical view, of more real import- 
 bliihment at ance, or to which it will be more neceflary for the nation in general to 
 °"^' attend, than this, that our minifters (fince peace is now likely to con- 
 
 tinue for fome time) do not keep up a greater eftablifliment than the 
 country can with eafe and certainty afford. Such attention is the more 
 neceflary, becaufe, unlefs parliament Jleadily intc?-pofes^ a minifter can 
 hardly refifl: the various attacks to which from every quarter he is 
 •expoled. Each fervant of the crown, attentive only to his own de- 
 partment, is naturally defirous of employing in that particular fervice 
 as much of the national income as he can; and each claim having 
 fome plaufible pretenfions to fupport it, there is reafon to apprehend 
 that every demand may be too eafily afl^ented to, unlefs parliament 
 fixes upon fome particular fum, beyond which the miniflier fhall not 
 be permitted to proceed, leaving the arrangement of the fum fo fixed 
 on to be divided among the difierent departments, as he may think 
 proper to direct ; unlefs the houfe afcertains the fpecific fum to be 
 expended on each department. 
 
 The peace eftablifliment comprehends the following branches : The 
 navy — the army — the ordnance — the civil lifl: — together with certain 
 mifcellaneous fervices. 
 Navy. That a formidable navy ought to be kept up, I am very ready to 
 
 acknowledge : but I hope that its fl:rength will confifl: more in having 
 a number of fliips ready for immediate fervice, than in a great body of 
 feamen. On the fuppofition, however, that 20,000 feamen, including 
 marines, are retained in pay (4,000 more than during the former 
 peace), the wages and vidualling of that number will not exceed 
 1,040,000/. 
 
 The remainder of our eftimated naval expenccs is commonly di- 
 vided into the ordinary and extraordinary. The ordinary includes the 
 falaries of the ofiicers in the different yards, and the general expence of 
 the efl:abli{hment j together with the fums ufually expended in building 
 
 and
 
 OF THE BRITISH EMPIRE. 169 
 
 and repairing fhips. The remainder of the building expences, ftores, 
 Sffc. is thrown together into the account of extraordinaries, which 
 frequently contains the names of fhips, and the fums they are to cod 
 refpeftively, which are never expended for that purpofe, whilft no 
 mention is made of other veflels on which part of that very money is 
 laid out. The proper mode of giving thefe accounts to parliament 
 would be, for the ordinary account to ftate merely the expence of the 
 eftablifhment, the dock yards, the falaries of the officers, the half- 
 pay, and fuch other expences as can be afcertained. Whereas the 
 extraordinary fhould contain the whole eftimate of what may be ne- 
 ceflary for the building and repairing of the fhips, the providing ftores 
 for that purpofe, and all the uncertain naval expenditure. In that view, 
 the ordinary of the navy may be calculated at t^oo^oqoI. per annum % 
 and if 660,000/. is appropriated to the extraordinaries, thefe two fums, 
 joined to the charge of 20,000 feamen, would make in all an expence 
 of two millions per annum ; which, if properly managed, would 
 furnifh us with the moft formidable maritime force in Europe. 
 
 Our military expences are with great propriety lefs popular than Army, 
 thofe which are laid out in the natural ftrength and bulwark of the 
 country. It would be dangerous, however, to countenance prejudices 
 againft the army, that might difcourage men of family, of chara(5ler, 
 and of merit, from making it a profefTion. The art of war is fllU 
 in a gradual progrefs to greater perfedion ; and unlefs we reward, 
 with fome degree of liberality, the fervices of thofe who profecute 
 that art among ourfelves, or who adopt and make known the im- 
 provements of other nations, we fhall not be able long to retain the 
 military character we have acquired among the ftates of Europe. It 
 is a fad, however, which were it neceflary it would not be difficult 
 to prove, though it might require entering a good deal into detail, 
 that 1,200,000/. per annnm, frugally and properly expended, would 
 fupport a military eftablifhment, including a miUtia, fufficient to form 
 the bafis of an army, which, when a new war takes place, might be 
 able to contend, in the field, with the enemies of this country. 
 
 I know no means by which the confufed extravagance of the Ordnance, 
 ordnance department can be prevented, except by an explicit de- 
 claration in parliament, that a larger fum than 250,000/. or 300,000/. 
 
 Part III. Z at
 
 j.^o HISTORY OF THE PUBLIC REVENUE 
 
 at the utmoft, is all that fliall be expended in fervices of that nature. 
 It does not proceed from any perfonal extravagance in thofe who of 
 late years have been at the head of that department, that fuch loud 
 complaints liave been uniformly ftated againft the eftimates they have 
 produced ; but the fadt is, that progreflive profuiion is the very prin- 
 ciple of a board of ordnance. Powder and ball indeed, and all the 
 appendages of artillery, are eafily eftimated, and may be kept within 
 proper bounds ; but to fortifiation there is no limit. One ditch is the 
 fruitful parent of another ; and when we think that we are completely 
 defended, we find a thoufand ramparts muft yet be raifed, before we 
 can expe<S any advantage or protedlion from the works which have 
 already been conftrudled. 
 
 Civil lift. There is fome reafon to hope that the civil lift expences will be 
 
 brought into fuch order, as may prevent any material excefs in future. 
 It will require, however, attention and ceconomy on the part of go- 
 vernment, and a firm and fteady refolution in parliament, to refift 
 any farther claim for an increafe, fhould it be demanded. Indeed 
 were the income of the crown to prove too fmall, the deficiency 
 ought to be made up by abolifhing ufelefs offices, of which many ftill 
 remain, rather than by augmenting the public burdens, which are al- 
 ready fo high. 
 
 Mifcella- The mifcellaneous fervices are of a nature fo various and dlfcordant, 
 
 that it is impoffible, confiftently with thefe fhort hints, to examine 
 them with the accuracy that might be neceflary. I muft therefore re- 
 cur to the old obfervation, that it would be proper for parliament to fix 
 a particular fum, beyond which the minifter of the day fhall not be 
 fuffcred to go ; which fum, at a medium, ought not to exceed 
 200,000/. 'per annum. 
 
 The following would then be the full amount of the national ex- 
 pences in time of peace, provided a wife and prudent fyftem of eco- 
 nomy were enforced in the different departments of the ftate: 
 
 neous fer- 
 vices
 
 OF THE BRITISH EMPIRE. 171 
 
 STATE of the propofed PEACE ESTABLISHMENT. 
 
 1. The navy _ - - _ ^2,000,000 
 
 2. The army and militia - - 1,200,000 
 
 3. The ordnance - - - 300,000 
 
 4. The civil lift - - - 900,000 
 
 5. Mifcellaneous fervices - - 200,000 
 
 Total 4,600,000 
 
 Such is the fum upon which an eftablifhment fufficiently refpedable 
 may be kept up, in time of peace. The plan propofed by rhe prefent 
 chancellor of the exchequer is unfortunately on a larger fcale, amount- 
 ing to 4,937,000/. per annum *". Were even that fum adhered to, the 
 public vsrould not probably repine : but w'hen eftimates are drawn up, 
 and are afterwards greatly exceeded every year, there is certainly fome 
 foundation for fufpicion and complaint. It is propofed, however, to 
 difcufs the fubjedt of our peace eftabUfhment, as it now ftands, in the 
 enfuing chapter. 
 
 The Englifh nation have long Indulged a paffionate defire of retain- ?• ^""^'J'j,^ 
 ing fortrefles or ftrong holds in the dominions of their neighbours, our foreign 
 "When Scotland was an independent kingdom, Berwick npon T%veed 
 was confidered as a place which it was elfential for England to poffefs. 
 It is well known with what earneftnefs Edward the Third perfevered in 
 his refolution of conquering Calais^ and how much the lofs of that 
 inlet into France was bewailed in this country. The afpiring Cromwell, 
 not fatisfied with having obtained the pofleflion of Dunkirk, had alfo 
 planned the acquifition of Elfinore and the caftle of Kronberg, in hopes 
 of enjoying a complete command of the trade in the Baltic. In the 
 reign of Charles II. it was thought neceflary to keep and garrifon Ta?i- 
 gier for fome years, with a view to the commerce in the Mediterranean, 
 and as a check upon the corfairs of Barbary. Minorca was twice ac- 
 quired ; firft, by arms from the Spaniards ; and next, by treaty with 
 the French, in exchange for Belle-ifle, which had been conquered 
 
 * The particulars are ftated in page 98. 
 
 Z 2 from
 
 172 HISTORY OF THE PUBLIC REVENUE 
 
 from that nation. And though that ifland has fince been loft, yet 
 Gibraltar is ftill retained as an invaluable acquifition, which on no con- 
 fideration whatfoever ought to be relinquifhed. 
 
 Having already given to the world, in a feparate paper, what has 
 occurred to me with regard to the propriety of holding that fortrefs, it 
 feems to be unnecefl'ary to repeat obfervations which have already been 
 made public \ It is fufficient in general to remark that Gibraltar is a 
 poffeflion which cofts us about two hundred thoufand pounds in time of 
 peace, and at leaft five hundred thoufand pounds in time of war ; that 
 the retaining of that barren rock keeps up a rancorous fpirit in the 
 court of Spain, which might otherwife become a fure and valuable ally ; 
 and perhaps renders us the general objedl of the jealoufy of Europe ; 
 and that by giving it up to its natural proprietors, we might not only 
 fecure a faithful friend, and fave confiderable charges at prefent unne- 
 celTarily wafted, but might alfo acquire a fum of money, which, if 
 expended in beneficial public purpofes, in augmenting the finking 
 fund, or in encouraging the commerce and induftry of the nation, 
 might be produdive of the happieft confequences. The whole 
 eftabliftiment at Gibraltar, it is true, would not be faved ; becaufe, 
 though that fortrefs were difpofed of, we fhould be obliged to keep up 
 a military force nearly equal to the prefent, and confequently the 
 greater part of the troops now at Gibraltar muft be elfewhere main- 
 tained : but it can hardly be doubted, that by a judicious fale of that 
 unprofitable pofleflion, from two to three hundred thoufand pounds/ifr 
 aintum, at an average of peace and war, might either be faved to, or 
 gained by, this country. The valuable ifland of Porto Rico, it is laid, 
 might alfo be acquired : but Weft Indian territories are no longer de- 
 firable, fince the mode by which alone they can be cultivated has be- 
 come the objedl of the fufpicion and jealoufy of the legiflature ; and the 
 property vefted therein is liable to be tampered with, and perhaps de- 
 ftroyed, by the zealous and well-intentioned, but rafh and mifguided 
 projects of enthufiafts in politics or religion. 
 
 ' See the propriety of retaining Gibraltar impartially confidered, printed for J. Stock- 
 dale, anno 1783. The fame fyftem was very ably enforced in the trail written by Dr. 
 Kippis in defence of the laft peace. 
 
 By
 
 OF THE BRITISH EMPIRE. lyj: 
 
 By extending the fame principles to Canada, New Brunfwick, and 
 other colonies in America, not excepting the new fettlement at Botany 
 Bay, a faving might be made of confiderable importance; and if the 
 money thereby obtained were expended at home, it might be attended 
 with perhaps greater national benefit, or at lead with advantages of a 
 more lafting and permanent nature. 
 
 A third economical refource will arife from a redudion of ufelefs 
 falaries and gratuities. 
 
 Some fteps have already been taken by the various adminiftratlons 3- Dlminu-^ 
 who have lately guided the helm of public affairs, forleffening the fum.s r-^j^ nen- 
 which were fwallowed up by the different departments of the flate ; and ''0"-> ^'^' 
 farther retrenchments have been fuggefled by the commiffioners ap- 
 pointed for examining the public accounts, of which it is hoped fome 
 future minifler will take advantage ''. But after all, little has been done, • 
 compared to what the public had reafon to look for ; and it is hardly to 
 be expe(iled that the nation will long fupport its prefent heavy load 
 without remonflrance or complaint, unlefs public economy is carried 
 almoft to a faulty excefs. Perhaps, in the apprehenfions of many, the 
 meafures which I am now about to hint at will bear that conftrudion. 
 
 It is well known that the duty of fix pence per pound on penfions 
 and falaries ' produces at prefent 46,284/. per annuvi^ and confequently 
 it mufl arife from falaries, fees, and gratuities to the amount of 
 1,851,360/.' 
 
 * In their fecond report the commiffioners recommended theconfolidation of the five in- 
 ferior boards of revenue, the expence of only four of which exceeds 70,000 /. a year, and 
 by which means perhaps 30,000/. per annum might be faved. On the 19th June 1782, 
 the houfe refolved, on the motion of Lord John Cavendifli, to put thefe taxes under the 
 management of one or at moft two boards of commiffioners. Comm. Journ. vol. xxxviii. 
 p. 1113- But any regulation of that nature was thought beneath the attention of his fuc- 
 ceffor in office. Another fuggeftion of the commiffioners to fave 26,719 /. by abolifhing 
 fixty-one offices in the cuftoms, ufelefs both to the public and to individuals (See 14th Re- 
 port, quarto edition, vol. iii. p. III.), has been treated with equal contempt. 
 
 ' This tax was originally impofed anno 1721, as a fund for defraying the intereft of a 
 million borrowed to pay off the civil lift debts in the reign of George I. 
 
 * It is faid that the land tax, at the rate of four {hillings in the pound, ought to be fub- 
 ftrafted from this fum ; but erroneoufly. It is certainly a defalcation from the income of 
 the public officer ; but the deduvStion is for the behoof of the diftrid where the officer refides, 
 and does not in the leaft increafe the income of the ftate. The tax of a {hilling in the 
 pound, impofed by 31 Geo. II. cap, 22. and producing about ^0,000 i. per annum, ought 
 however to be deduiSled. 
 
 This
 
 ,74 HISTORY OF THE PUBLIC REVENUE 
 
 This is a greater fum by far than the nation can well fpare, in its 
 prefent exhaufted ftate, and might be confiderably diminifhed, without 
 encroaching upon the rewards to which the fervants of the public may 
 be juftly entitled. 
 
 Unlefs an account of the ofEces liable to that tax were laid before 
 parliament, it will be impoffible to afcertain which of them might either 
 be totally aboliftied, or the falaries and perquifites of which might bear 
 a confiderable diminution. In general, however, it may be remarked, 
 that there are many offices in the exchequer, in the excife and cuftoms, 
 and other departments of the revenue ; in the courts of law ; in our 
 colonies abroad, and in the military department at home ; in the prin- 
 cipality of Wales ; the dutchies of Lancafter and Cornwall; within the 
 purlieus of the court ; and in the eftablifhments of North Britain; that 
 might either be totally taken away, or at XtSi^ fequeflrated until the 
 nation fhould be better able to maintain them; and by retrenching 
 which at leaft three hundred thoufand pounds out of 1,851,360/. might 
 be faved to the public ^ It is farther to be remarked, that as nothing 
 rendered the government of the commonwealth fo popular, as the fpirit 
 with which the republican party devoted to the public fervice the 
 income of offices to the amount oi £^6,6661. per anntim^ fo the adop- 
 tion of fimilar principles at this time would naturally roufe every latent 
 fpark of patriotifm in the country, and enable us the better to bear the 
 burdens to which we are fubjedl. 
 4. Abolition The learned and refpeftable author of " The Inquiry into the Nature 
 of bounties. ^^^ Caufes of the Wealth of Nations," has contended, that a confider- 
 able faving might arife, by abolifhing thofe bounties which the fpirit 
 and principles of the mercantile fyftem have eftablifhed in this country " : 
 
 ' On the gth of March X778, a worthy member of the houfe (Thomas Gilbert, Efq. 
 reprefentative for Litchfield) moved, that one fourth part of the net income of all offices 
 under the crown, with certain exceptions, fhould be granted to his majefly, for carrying 
 on the American war. Upon a divifion, 100 were in favour of the motion, and 82 againft 
 it. On the report next day, 141 were for, and 147 againft the motion, which was ac- 
 cordingly loft. Comm. Journ. vol. xxxvi.p. 813. For other parliamentary proceedings 
 refpefling taxes on places and penfions, fee Parliamentary Regifter, anno 1 780, vol. xv. 
 p. 113. 129. 151. 167. 175, and 213. the Lords Proteft, p. iSi. alfo, vol. xvii. p. 
 .590. and the Debates, anno 1781, vol. iii. p. 359 and 360. 
 
 '' Book iv, chap. 5. 
 
 and
 
 OF THE BRITISH EMPIRE. 175 
 
 and perhaps, in fome inftances, they have been carried too far, and 
 hence have occafioned confiderable expence to the pubHc, without any 
 eflential advantage. But fince our agriculture and commerce have fo 
 rapidly flourifhed under the encouragements which have been given to 
 them, prudence will didate a confiderable degree of caution in making 
 any important alterations in a fyftem which feems to have fucceeded. 
 To fuch public fupport we undoubtedly owe the eftablifhment of many 
 of our manufadlures, thofe of filk and linen in particular '. And, if 
 ever Great Britain wifhes to avail itfelfof its natural advantages for 
 carrying on its fifheries on a great fcale, it muft be by fimilar encou- 
 ragements judicioufly planned and faithfully applied. Nor can it be 
 doubted by any one, that the wealth of the country is better expended 
 in promoting induftry, and inciting the people to activity and exertion, 
 than in the carrying on of thofe deftrudive wars, by which its treafures 
 have been wafted, without anfvvering any beneficial purpofe. At the 
 fame time, none can poffibly objedl to the enactment of fuch additional 
 checks as may have a tendency to prevent thofe frauds and iniquitous 
 pradices, by which the revenue has not only been injured, but the im- 
 portant objedls of fuch regulations have been too often defeated. 
 
 The proprietors of the differenf funds which conftitute the national s- Economy 
 , . _ ,11 t"c 11*- 
 
 debt pofTefs this fmgular advantage, that not only their rents and annui- ragement of 
 
 ties are colledled for them without expence ; but that the very charges of jg^u" ^^ 
 diftributing their property, and of protedling it from frauds of every 
 kind, are all paid by the ftate= So long have the public creditors been 
 accuftomed to this peculiar and important benefit, that no alteration, im- 
 pofing the burden upon them, can be attempted. But it is furely de- 
 firable that the nation ftiould be at as little expence as poffible in the ma- 
 nagement of its debts ; and the fum that is now paid under that head 
 to the officers of the exchequer, and to the different public companies, 
 amounting to 127,881 /. /'d'r annum, is unquestionably extravagant. 
 The only apology for fuch an expence arifes from the variety of ftocks 
 into which the public funds are at prefent divided : but if the national 
 debt was more fimplified, by uniting and confolidating the dilTerent 
 
 ' The art of making gunpowder, and the whale fifliery, have unqueftionably arifen to 
 thsir prefent height, in confequence of public bounties, 
 
 I funds.
 
 1^6 HISTORY OF THE PUBLIC REVENUE 
 
 fivnds, a (living of at leaft one half of the above funi might be made, 
 -without endangering the property of any individual creditor, or putting 
 hitn to any additional trouble or expence \ 
 
 2. IMPROVEMENTS in tlie EXISTING REVENUE. 
 
 Next to favings in the public expenditure, nothing deferves more to 
 be attended to than fuch improvements in the mode of levying the ex- 
 ifting revenue as may be produ6tive of advantage to the ftate. 
 i.ReguIa- The firft and moft effential improvement which will naturally occur 
 
 tions againfl ^^ every difcerning reader, is, to contrive the befl: means of fuppreffing 
 the various frauds by which the revenue is injured, particularly, on the 
 importation of foreign commodities. 
 
 '' Were a real fpirit of economy to pervade our whole expenditure, favings hardly tote 
 credited, might be efFeiSed. In ruling the paper for the accounts of the different public 
 offices, a faving of 5,000/. per annum might be made. Were the public to be fupplied 
 with paper and flationary by open contrad, inftead of the prefent mode of patent, that 
 fource of expence might be diminifhed to the amount of perhaps 20,000 i. a year. 10 per 
 jcent. might be faved by clothing the army in plain white, inftead of fcarlet. Many f/ cc~ 
 teras might be mentioned. 
 
 There is one other faving however, of which it may be proper to take fome notice. It 
 h well known, that very confiderable fums of money have been laid out by the crown in pur- 
 chafmg plate and jewels. The following account will give fome idea of the magnitude of 
 this expence fince the Revolution. 
 
 Expence of jewels during the reign of King William - ^f 66,069 
 
 Expence of plate - - _ _ - 102,843 
 
 Expence of plate and jewels during the reign of Queen Anne (fuppofed ) 1 00,000 
 During the firft fix years of the reign of George I. (fuppofed) - 30,000 
 
 For four years, ending 25th March 1725, p^r account (See Com. Jour- 
 nals, vol. XX. p. 523-) - - - - 21,812 
 For 64 years, from 1725 to 1789, at an average of 10,000/. each year 640,000 
 
 I 960,724 
 A conCderable part of this fum might have been faved. The praftice of giving plate to 
 our minifters at foreign courts, or to public officers at home, ought to bedifcontinued. It 
 puts the country to great expence, without much benefit to them ; as a great part of the 
 price of the plate arifes from the workmanfhip, or fafhion. That expence is often made 
 ufc of as an argument for preventing the change of minifters, which is often neceffary and 
 feldomer detrimental to the ftate than is commonly fuppofed. Indeed, if fome prefent of 
 that kind is thought neceffary, a fervice of china would anfwer the fame purpofe, at a 
 Xinaller coft, and would employ our poor, and encourage our manufactures, at the fame time. 
 
 A ftrong
 
 OF THE BRITISH EMPIRE. 177 
 
 A ftrong propenfity to evade the payment of public taxes, prevails 
 In every country where high duties are impoled ; and the befl: means of 
 preventing fuch pradices undoubtedly is, to diminifh the duty fo as to 
 remove the temptation. But Inch a principle cannot be carried too 
 far, particularly where a great income is required. Inflead of m.ulti- 
 plying taxes, however, it is undoubtedly wii'er and more pohtlc to 
 eftablifli fuch regulations as may render the impofts already granted as 
 efficient as poflible. 
 
 The trade of fmuggling has lately received conliderable checks by a 
 variety of important regulations. But new-invented frauds, which the 
 ingenuity of man is perpetually difcovering, will ever require new re- 
 flraints j and, among other ufeful laws, it might be euacled, that no 
 veffel, particularly thofe fufpected of fmuggling, iliall be fuffered to 
 leave a port in ballaft, and to return to it again in the fame ftate, with- 
 out giving a proper account of the voyage it had performed. The trade 
 alfo with Jerfcy, Guernfey, and Alderney, which are the depots of 
 fmugglers, might be put under feme ufeful limitations. Perfons 
 licenfed to deal in wines, fpirits, and other articles liable to be fmuggled, 
 fliould be obliged by their licenfes to prove, if called upon for that 
 purpofe, that the articles they have dealt in have been purchafed from 
 fome entered importer, whofe payment of the duties could be eafily 
 afcertaiued ; and confiderable rewards fhould be given to thofe who feize 
 fmuggled commodities at fea, and by whofe exertions the Ihip as well 
 as the cargo has been captured. For as it isneceflary to have vefiels of a 
 peculiar ftru£ture for carrying on fmuggling, if every veflel of that 
 defcription w^re deftroyed, that ruinous fpecies of commerce would be 
 annihilated '. 
 
 The prefent cuflom houfe duties were granted at different times, and ^ confolid 
 each grant was preferved diftin£t and feparate from every other. t'O" °^ 'he 
 Nothing can be more truly ridiculous than fuch a fyilem. One article duties?' °" ' 
 in this manner is made fubjed to a variety of different taxes ". The 
 inoft intelligent merchants are ignorant to what duties they are liable 
 
 ^ Some of the beft obfervations I have met with on fmuggling, are contained in a h'ttle 
 tra£t written by George Bifhop, an eminent diftiller at Maidftone in Kent, printed anni 
 
 1783- 
 » French wine was liable to f.iieen, and French paper to fourteen, different duties. 
 
 Part III, A a for
 
 178 HISTORY OF THE PUBLIC REVENUE 
 
 for the commodities they import, and the whole is trufted to the care 
 and fidelity of the officers of the cufloms, who, in the hurry of the bu- 
 fuiefs, muft often defraud either the public or the trader, by hafty com- 
 putations ". But, fortunately, fteps have been taken, fince thefe papers 
 were originally drawn up, for remedying this evil, though unaccompa- 
 nied with all the advantages which might have been derived from if, 
 particularly in diminifliing the expence of colleding the revenue. 
 3. ConfoH- Of all our taxes, thofe upon wine, fpirits, ale, beer, and other fermented 
 
 dutief o!r liquors, are perhaps the leaft exceptionable. However pafTionately they 
 malt, bfer, may be defired by the people, yet in no refpedt can they be accounted 
 *'' * ** real neceffaries of life ° : and it is a fortunate circumftance for this-> 
 
 country, that it has not been reduced to the neceffity of laying taxes 
 upon provifions of any kind railed at home, whilll it is able at the fame 
 time to draw fuch an immenfe income by impofing duties upon liquors 
 both foreign and domeftic, particularly thofe extraded from malt, 
 which, though lefs hurtful and pernicious than others, yet are far from 
 being eflential. At prefent, however, taxes upon malt liquors are im- 
 pofed in different flages of the procefs. A certain fum is exafted from 
 the maltfter for every quarter of malt that he makes, and other duties 
 are demanded from the brewer who extrads the liquor from the grain. 
 But the latter branch of the revenue does not yield in proportion to the 
 former, becaufe the maltfter finds it difficult to evade the duty, on ac- 
 count of the bulkinefs of the commodity '' ;. whereas the brewer carries 
 on his operations under circumftances highly favourable to evafion : and 
 it has been calculated, that if the whole amount of the prefent feparate 
 duties were levied upon malt, it would add about 300,000/. J>er ati/nwi 
 to the national income ''. 
 
 " See the thirteenth rffport of the commiflioners of public accounts, in which the confoli- 
 dationof the cuftoms was originally recommended, 
 
 • The porters at Conftantinople, who undergo as much fatigue as any fet of men what- 
 ever, drink nothing but water ; and it is well known,. that the Mahomedans in general, 
 from their temperance in drinking, efcape many fatal diftempers. 
 
 f Some frauds however do exift even in this tax, which, by attention on the part of the 
 officers, and regulations which parliament might enatSl, ought to be prevented. 
 
 '< This fubjeil has been recommended by different authors to the public attention ; but 
 Dr. Smith, in his Wealth of Nations, vol. ii. p. 507, 508, ^f. has given the belt view 
 of the probable advantages refulting from fuch an alteration. 
 
 The
 
 OF THE BRITISH EMPIRE. 179 
 
 The tax upon houfes, impofed anno 1778, has fallen very much 4. improve- 
 ments in tl 
 houfe tax. 
 
 fliort of the produce expected from it. When originally propofed, it ""^""^ "* '**" 
 
 was -calculated that it would yield 264,000/. per annum; whereas, on 
 an average, it cannot be ftated at more than 130,000/. One great caufe 
 of this deficiency arifes from many houfes in the country, even the 
 moft fplendid and fumptuous, being greatly under-rated. The only 
 mode of remedying this defedt would be to have a re- valuation, and to 
 eftimate the value of a houfe fituated in the country, not from its fizc, 
 the number of its windows, or the rent that is fuppofed may be drawn 
 for it, but from the number of hot-houfes, green-houfes, the attached 
 and detached offices belonging to it, and the extent of the park, the 
 gardens, and pleafure ground with which it is furrounded '. A confi- 
 derable addition would, by this means, accrue to the exchequer, and 
 a fpccies of property would be taxed of little real public utility, and by 
 which only the rich could be affeded. If a general re-valuation were 
 to take place upon thefe principles, this fund, inftead of proving defi- 
 cient, might, in a little time, yield more than the income at which it 
 was eftimated. 
 
 This branch of the revenue, as it is now managed, is attended with . Y\ms. and 
 little advantage to the public. The dedudlions from the grofs produce, forfeitures. 
 it is certain, mufi: be confiderable, from the charges of profecution, and 
 the emoluments to which the feizing officers and their affiftants are in- 
 titled. But that the exchequer fhould receive fo very fmall a propor- 
 tion of the value feized, is a fubjedl which ought to be inquired into 
 and explained. The grofs produce of fines and forfeitures, l^c, in 
 England and Scotland, anno 1788, was as follows: 
 
 Seizures by cuftom-houfe officers in England ;^ 91,364 16 9 
 Fines and forfeitures in the cuftoms - 5,204 2 9 
 
 Carried over 96,568 19 6 
 
 ' M. de Lolmc, in his obfervations relative to the taxes upon windows, propofcs to 
 aflefs houfes according to their internal capacioufnefs or tonnage. There is merit at lead in 
 the novelty of the idea ; but the practicability of the meafure is rather problematical, 
 
 Aa 2
 
 lie HISTORY OF THE PUBLIC REVE NUE 
 
 Brought over 96,568 19 6 
 Fines and forfeitures in the ex- 
 
 cife office of London jC 5Si^9^ 5 ^ 
 
 Country fines and forfeitures in 
 England, iindiftlnguifhed in 
 the excife accounts, but cal- 
 culated at - 40,000 o o 
 
 95,6qo 5 I 
 
 Fines and forfeitures in the fait office - 1,666 3 8^ 
 
 Penalties in the flanip office - - 572 15 o 
 
 ■ in the hackney coach office - 162 7 6 
 
 — — in the office of hawkers and pedlars 82 t6 o 
 
 Total England ^194,743 6 9,^ 
 
 Fines and forfeitures in the 
 
 Scotch cuftoms - j^^ 8,2 75 3 7 
 
 Ditto, in the excife • 9,8 12 4 2 
 
 ■ 28,087 7 9 
 
 /;Z22,S^O 14 6!. 
 
 Of this fum the public treafury has drawn a very fmall proportioa 
 indeed, even in England ; and in Scotland the fhare belonging to the 
 crown is given away in penfions to Individuals, inllead of being appro- 
 priated to national purpofes, eith.er for the internal improvement of 
 North Britain,, or for the general benefit of the empire. 
 6. Commu- In a country fo burdened as Great Britain is, many taxes muft 
 taiion of the Jj^yc been impofed on the fpur and hurry of the moment, the 
 
 taxes on _ * _ ^ *^ •' . _ / 
 
 coals and propriety and wifdom of which have not been juftified by experience: 
 ^ and as taxes are of a complicated nature, and ought not only to be con- 
 
 fidered as fources of revenue, but aathey may affed: the commerce, the- 
 induftry, the population, and even the morals of a nation, it is a plan 
 that ought to be invariably adhered to, occafionally to review the 
 cftablifhed ij'ftem of revenue,, and to make fuch alterations in it as 
 found policy will direft. Perhaps at no period in the hiftory of 
 this country, has fuch an examination been fo truly neceffary as at 
 prefent^ 
 
 But
 
 OF THE BRITISH EMPIRE. i8i 
 
 But of all the various duties to which this country is now fubjedl, 
 there are none which feeni to be (o peculiarly exceptionable as thofe- 
 upon coals carried coaftways, and upon fait. In a former part of this 
 work ', a plan was hinted at for abolifliing the firft of thefe taxes, and 
 reviving, in its ftead, the ancient duty of hearth money. An ingenious 
 nobleman (Lord Dundonald) has fince fuggefted the fame fubftitute in 
 lieu of the fait tax. At the rate of only 2^- f>^^ hearth, it is probable 
 that as much might be raifed as might yield a fubftitute for both, were 
 even the houfes of the poor to be totally exempted from the propofed 
 impofition. The advantages that would refult from fuch a regulation 
 to the navigation, the commerce, the manufa(Sures, and general wealth 
 of the country, are hardly to be credited. 
 
 The high taxes at prefent impofed upon articles commonly known in 7. Commu- 
 the cufto\n-houfe under the general name of DruFS, are liable to many '^"°° "Z'*** 
 
 /-,•,- rr^ir . ^ tax on drugs, 
 
 lolid objedlions. The value of the commodity being confiderabk in 
 proportion to its bulk, furnifhes a ftrong temptation to the fmuggler to 
 deal in fuch articles. It is generally indeed fuppofed that nine-tenths of 
 the drugs we confume are clandeftinely imported. From the peculiar 
 advantages which England enjoys in its commerce with the Eaft (from 
 whence by far the greateft quantities of drugs are brought), the whole 
 trade both of Europe and America might be engrofled by us, were not 
 the duties fo exorbitant that a druggift in Holland can carry on as great 
 and as profitable a trade with a fmall, as any individual in this country 
 can with a great capital. Above all, as many commodities included 
 under the general name of Drugs are made ufe of in our manufadures,' 
 any taxes which bear hard upon them, and contribute to render them 
 lefs able to ftand in competition with thofe'of other powers, ought to 
 be avoided. To remedy thefe financial evils, it might be a prudent? 
 and politic meafure to abolifli the duties upon drugs, or at leaft greatly 
 to reduce them, and in their roohi to extend the tax upon quack medi- 
 cines to medicines made up even by dru'ggifts and apothecaries. By' 
 fuch a tax the wealthy would principally be afFeded. " For it is riot 
 from the confumption of the poor that the .profit of the apothecrtry 
 arifes. It is the effeminacy, the folly, and iixQ. vices of the i;ich, that, 
 render their profeffion fo lucrative. '^ '-'^^^'' «^!^-^"''/f ■''• ^^^-^^ ^'^ ^^'''^■ 
 
 ' Part I. chap. Tv. p. 27. 
 
 By
 
 .18^ HISTORY OF THE PU-BLIC REVENUE 
 
 By fuch regulatixjns as thefe the revenue of this country could not 'fail 
 to receive a very confiderable increafe. Let us next examine what 
 new taxes might be laid on, fliould the neceffities of the ftate render 
 additional imports unavoidable. 
 
 3. NE^W and ADDITIONAL TAXES. 
 
 EIow heavily foever this country may fuppofe itfelf loaded at prefent, 
 yet various cirqumftances may occur which may involve it in new wars, 
 and render very confiderable additions to its revenue neceflary ; and though 
 the time is probably diftant before any great exigency of that nature is 
 likely to happen, yet it is proper, by a previous difcuffion of fo import- 
 ant a fubje(3:, to prevent the public from running any rifk of being 
 injured, when it does take place, by pernicious financial operations. 
 With that view, the following hints are fubmitted to the confideration, 
 not of the prefent age (it is to be hoped), but of its pofterity. 
 I Tax on Were it poflible to levy an equal tax upon the income of every indl- 
 
 income. vidual, it would unqueftionably be the beft mode of raifing a revenue 
 
 The difficulties, however, attending fuch a plan, particularly when ex- 
 tended to perfonal property, are very great. Perhaps fo dcfirable an 
 object, however, might in a great meafure be attained, if all receipts 
 for the rents of lands, houfes, gardens, fifhings, intereft of money by bill, 
 perfonal bond, and mortgage ; and, in fliort, if every fource of in- 
 come (funded property excepted) were made liable to certain ftamp 
 duties, at a moderate poundage. 
 
 Let us firft ftate what would be the produce of the tax, at the rate of 
 only fixpence in the pound, and next on what grounds it may be fup- 
 ported. 
 
 If the prefent land tax, as levied in England and Scotland, yielded 
 full four {hillings in the pound, amounting as it does to 2,045,763/. 
 8s. 4^. the landed income of the two kingdoms would fcarcely exceed 
 ten millions /cr annum. But it is to be confidered, that a great part of 
 England and of Scotland was originally undervalued ; that a greater ex- 
 tent of territory has fince been brought under cultivation ; that the rents 
 both of lands and houfes have confiderably increafed ; and when to 
 this is added the intereft of money on bills, bonds, and mortgages, 
 
 furely
 
 OF THE BRITISH EMPIRE. rSj 
 
 fiirely fixty millions /^r annum cannot be accounted too high an efli- 
 mate of the property that might thus be taxed. But as it is propofed 
 to lay the duty on the landlord, and the creditor, or mortgagee, and as 
 fome lands are cultivated, and fome houfes poffeiTed by the proprietor 
 himfslf, which confequently would be exempted, let it' be fuppoied that 
 only fifty millions would remain to be taxed, which, at fixpence i(i 
 tlie pound, would yield a revenue of 1,250,000/. ^^r annum. 
 
 The firft great advantage attending this tax v.-ould be,.that, confider- 
 ing the income it might furnifh, it would be levied at a very trifling 
 expence. It would alfo be a fure revenue, which nothing, but very 
 great national calamities could render unprodu£live. 
 
 In the feccnd place,, it is impoflible to lay any tax which men of 
 property would feel lefi-;. The well known. additional duty upon wine,, 
 which though it put only one penny into the pocket of the public, 
 took fix pence out of the pocket of the confumer, is a recent; proof that 
 taxes upon confumption are by far the mpll burdenfome. Is it not 
 better, therefore, for the man of property to give 2/. \os. for every 
 hundred pounds he receives, than to pay no lefs a fum than 15 /. out of 
 the lame income, which would be the necCir^i;yjconfeq;ti5rj.Ge pf.adjiitioftal 
 taxes upon articles of confiimptign ? rn/- ii;-; ,,-"■)['' ,'.:-" -,' - 
 
 A. third, great advantage of this tax would be, that.it would equally 
 extend over every part of the kingdom. Scotland would pay its exa£t 
 proportion with England, and Cumberkud with Middlefex. And 
 though every idea of altering the prefent mode of raifing the old land 
 tax is liable to many objections, yet, if new taxes mufl: be raifed, no 
 good reafon can be alligned why any inequality fhould be longer fuf- 
 fered ; or, in other- words, why one part of the kingdom fhould be 
 relieved at the expence of another.. 
 
 The trouble that a number of ftamps would occafion, and the rlfk of 
 forgery, are the only material objeftions to this propofal. But, after 
 being a fhort time accuftomed to it, the trouble would appear very in- 
 confiderable. Nor M'ould it make any great difference whether a per- 
 fon is obliged to mak^ ufe of plain or ftamped paper, if the one was 
 made as attainable as the other, which might eafily be done, fo'r the fake 
 of fo important a revenue, by employing a fufficient number of officers 
 to diftribute the ftamps. Indeed, fince wx muft fuffer the inconve- 
 nience 
 U
 
 ;i-n HISTORY Of THE PUBLIC REVENUE 
 
 •nience refulting from ftamp duties upon receipts, is it not better to un- 
 dergo any trouble of that kind, in order to raife a great, rather than an 
 infignilicant irlcome ? In regard to the rifk of forgery, that might be 
 prevented by making ufe of paper with marks fimilar to thofe in the 
 notes of banks and bankers, and by the appointment of officers in dif- 
 ferent diftri^ts, by whom the (lamps might be counterfigned. 
 
 But if this idea could not be adopted, there is furely notlilng to hin- 
 der the prefent tax on receipts from being extended and improved. 
 This might be efFe£led by laving the duty upon the perfon who receives 
 the money (who is then in the beft poffible fituation of contributing to 
 the exigencies of the ftiate), inftead of compelling a perfon who is part- 
 ing with a portion of his wealth and fubftance to pay more than the 
 fum for which he had originally bargained. For it is not the luxury of 
 getting a receipt that ought to have been taxed, but the luxury ofghhig 
 one, and the advantage of receiving what, perhaps, could never have 
 been obtained, had not the laws of fociety enforced the contrads of in- 
 dividuals. ' ■'' *^; 
 
 The rate ought alfo to be raifed to three pence for fmall fums, and 
 fix pence for larger. All receipts not written upon ftamped paper might 
 be declared illegal ; but any penalty to be impofed, ought to be de- 
 manded from the perfon who receives money without giving for it a 
 legal acknowledgment. It is unfortunate that regulations of that na- 
 ture were not thought of and ena<Sled when the fhop tax was repealed. 
 The deficiencies of the receipt tax would thus have been made up, and 
 at the fame time, an ample fubftitute for the ftiop tax would have been 
 provided '. 
 2. Exclfe on It is probable that a confiderable fum of money might be raifed by im- 
 pofing a duty on all the milliners, mantua makers, taylors, hair- 
 dreflers, and perfumers in the kingdom, according to the following 
 rates : 
 
 ' As a farther fubftitute for the fhop tax, it has been propofed to lay an additional duty 
 upon inland bills and notes of hand, progreflively increaling according to the fum to be 
 paid, and the time fixed on in the fecurity. 
 
 I. To 
 
 drefs
 
 OF THE BRITISH EMPIRE. i8j 
 
 1. To be paid for an annual licenfe by every mil- 
 
 liner, mantua maker, taylor, hair drefTer, 
 
 and perfumer, keeping a fhop, or having 
 
 journeymen or apprentices, in London, and 
 
 within the bills of mortality - jC l i o 
 
 To be paid by ditto for every apprentice during 
 
 the time of fuch apprenticefhip - o lo o 
 
 To be paid by ditto for every journeyman they 
 
 employ - - - 050 
 
 2. To be paid by every milliner, ^c. for an an- 
 
 nual licenfe in the different cities in the 
 kingdom - - - o 10 6 
 
 To be paid by ditto for every apprentice - 050 
 
 To be paid by ditto for every journeyman 026 
 
 3. To be paid by every milliner, ^c. for an an- 
 
 nual licenfe, in the different market towns 
 and villages in the country - 050 
 
 To be paid by ditto for every apprentice and 
 journeyman - - - 010 
 
 It may be urged in favour of this propofal, that it is a tax that would 
 only affe£t the rich ; for the poor have no occafion for milliners, hair- 
 dreflers, or perfumers : and, as to their clothes, they are in general 
 made up at home, or they purchafe old ones. At the fame time the 
 middling ranks of people, the great pillars of the exchequer, are not 
 excepted. 
 
 If the proportions which are above ftated are adopted, the tax can- 
 not be reckoned burdenfome. The inhabitants of the towns can well 
 afford it; and as tradefmen in the country are generally Icfs employed, 
 it is propofed to tax them at a lower rate. 
 
 The taxes above mentioned are fcarcely liable to fraud, and would 
 be levied at a very trifling expence ; and as there cannot be lefs than 
 300,000 milliners, mantua-makers, taylors, halr-dreffers, and per- 
 fumers in the kingdom, from fuch a number, at leaft 100,000/. J)er 
 annum might be levied. By adopting fuch a plan alfo, the duties im- 
 pofed on printed linen and cotton goods, ib loudly and fb juftly com- 
 
 Part III. B b plained
 
 as HISTORY OF THE PUBLIC REVENUE 
 
 plained of, might be altered : for any duty upon fuch articles, if at 
 all impofed, ought to be levied not when they are manufadured, but 
 ■when they are made up. The only material objedion to the tax is, 
 that it interferes with fome of the few profeflions in which women 
 can be employed : it might be confined therefore to the male fex, who 
 in many inftances have incroached too much upon the occupations of 
 females. Thus it might become an ufeful regulation of police, and 
 even with that reftridlion might be a fource of revenue not unworthy 
 of attention. 
 3 '^'^<^'- There is no article imported into this country, that Is in every re- 
 
 tional tax ... * - . -i r r t • i 
 
 upon fugar. fped fo eligible a fubject of taxation as that or lugar. It is a luxury 
 of life that might undoubtedly be difpenfed with : it is an article, 
 which in confequence of its bulk, and the facility with which it is 
 injured or deftroyed, can hardly be fmuggled into the kingdom ; and 
 taxing that commodity is the only means by which we can indemnify 
 ourfelves for the lofs we fuftain by the monopoly of our market, 
 granted to our Weft India iflands, and the enormous expences we are 
 put to for their defence and protedion. The confumption of this 
 article is very great : before the laft war it came to 1,653,000 cwt. or 
 183,136,000 pounds; the value of which, at threepence the pound, 
 amounted to 2,314,200/. fterling ; and a duty of only a halfpenny 
 per pound on that quantity would produce 385,700/. Nor did the 
 confumption materially decreafe during the war: it came to 1,275,000 
 cwt. the price of which rofe to fixpence /^r pound, and confequently 
 amounted to 3,557,500/. The difference between the two fums is no 
 lefs than 1,243,300/. and may be fairly ftated as the amount which, 
 in any great emergency, might be levied from the people of this 
 country, in addition to the prefent taxes upon that commodity ". 
 Perhaps the duty on the raw material, however, ought not to be in- 
 creafed ; and that the better mode would be, to lay any additional tax 
 to be impofed at the fugar bakers, and to proportion it according to 
 the diiferent finenefs and price of the article. 
 
 " The quantities above mentioned, and the price at which fugar is flated, are taken 
 from papers laid before parliament by the fugar refiners, when they applied anno 1781 for 
 the liberty of refining foreign prize fugars for the confumption of this couatry. 
 
 As
 
 OF THE BRITISH EMPIRE. iS/ 
 
 As a proof of the Importance of this refource to the nation, even under 
 the exifting duties, the following account of the importation of fugar 
 into this country, of its value, and of the revenue arifing from it for 
 five years, ending ^««o ^1^7^ ^s fubmitted to the reader's confidera- 
 tion. 
 
 Year. 
 
 Quantity. 
 
 Cwt. Qrs. lb. 
 
 
 Value. 
 
 
 Duty. 
 
 
 1783 
 
 1,480,007 2 I 
 
 £ 
 
 •i-^^'^i^zn 
 
 5 
 
 £ 909,014 5 
 
 4 
 
 178+ 
 
 1,815,5.0 3 23 
 
 
 2,487,486 8 
 
 
 
 1,115,026 6 
 
 3 
 
 1785 
 
 2,173,468 20 
 
 
 2,976,555 10 
 
 I 
 
 1,334,871 14 
 
 
 
 17S6 
 
 1,613,098 2 22 
 
 
 2,207,331 15 
 
 3 
 
 990,711 8 
 
 10 
 
 1787 
 
 1,926,121 3 
 
 
 2,634,686 I 
 
 6 
 
 1,187,774 12 
 
 7 
 
 How any minifter can venture even indiredlly to fhake fo Important 
 a branch of our financial fyftem, vi^ere the abolition of the flave trade 
 totally unconneded with every other political confideration, can only 
 be attributed to the rafhnefs and inexperience of youth, or to that want 
 of found judgment, with which unfortunately quick and brilliant ta- 
 lents are often accompanied. 
 
 Amongft the various funds for additional taxation which this country Additional 
 poflefles, there is none that has been fo much the topic of converfa- * 
 
 tion, or would probably meet with more general approbation, fhould 
 the necefTities of the country require It, than an augmentation of the 
 duties to which malt liquors are at prefent fubjedl. Since the year 
 1 76 1 the brewery has efcaped any Increafe of burden, and was even 
 exempted from each of the three 5 per cents, impofed fucceffively upon 
 the duties under the management of the commiffioners of excife. 
 " It was referved," to make ufe of the words of the refpe^table 
 author of the Inquiry into the Nature and Caufes of the Wealth of 
 Nations, " as a facred fund to be applied to the future exigencies of 
 *♦ the ftate." Perhaps a timid minifter might be alarmed for the cla- 
 mour it might occafion " ; but pity it is, that fo Important a refource 
 fhould He dormant, and that the country in the mean time fhould be 
 loaded with a variety of little, petty, vexatious taxes, more trouble- 
 fome than produdive. The fum that might be expeded from an ad- 
 
 » It woulU raife the price of porter from 3|</. to ifd. per pot, and other malt liquors in 
 proportion. 
 
 B b 2 ditlonal
 
 ,88 HISTORY OF THE PUBLIC REVENUE 
 
 dltional duty on malt liquors, equal to the one impofed a7ino 1761% 
 may be calculated from the following ftatement : 
 
 ACCOUNT of the PRODUCE of the ADDITIONAL DUTY of 
 Three Shillings per Barrel on Beer or Ale, for ten Years, ending 
 Michaelmas 1783. 
 
 Net produce of the faid additional excife from 
 Micliaelmas 1 773 to Michaelmas 
 
 1774 
 
 ;C 470.122 
 
 1775 
 
 497,902 
 
 1776 
 
 522,975 
 
 1777 
 
 537>599 
 
 1778 
 
 S^'^^^?>1 
 
 1779 
 
 554,006 
 
 1780 
 
 577>34i 
 
 I78I 
 
 574»i53 
 
 1782 
 
 598,955 
 
 1783 
 
 510,160 
 
 £, 5,585»85o 
 
 Confequently on an average of ten years (almofl the whole of them 
 years of war, and one of them a period of fcarcity and diftrefs), the 
 tax yielded at the rate of 538,585/. /^r anmim ; at which fum an ad- 
 ditional duty of 3^. ^f-r barrel may be fafely eftimated. 
 5. Tax on The propofed tax upon the brewery would juftify the revival of a 
 
 pem'.^" t^^ty on cyder and perry, which have been too gently dealt with. It 
 would be impoflible indeed to augment the burdens upon the beverage 
 ufual in one part of the kingdom, without impofmg a proportionable 
 rate upon an article of the fame nature, of fuch univerfal confumption 
 in many other diflridls. The mode formerly thought of for taxing 
 thofe commodities, how-ever, having been once abandoned by the le- 
 giflature, cannot vrell be revived precifely in the fame form : though 
 it is certain that the repeal was merely the effe£l of party fpirit, and 
 not of principle or conviftion. But a cyder tax might be raifed by 
 
 y By I Geo. III. cap. 7. The a£l was pafled anno 1760, but the duty commenced the 
 24th of January 1761. 
 
 impoHng
 
 OF THE BRITISH EMPIRE, iSt, 
 
 impofing a duty upon orchards, without the pofTibility of any well- 
 founded objedion. Or a tax might be levied upon pears and apples 
 when they are gathered in order to be manufadtured into cyder and 
 perry, in the fame manner as the duty on hops is at prefent colledled. 
 
 In the courfe of this hiftory it has been ftated, that on different oc- 6. Poll-tax. 
 cafions recourfe was had to poll-taxes for the purpofe of raifing a 
 revenue. It muft be acknowledged that they were far from being 
 either popular or produdive : but at the fame time it is a fpecies of 
 taxation which pubUc misfortunes may render necefTary ; and a poll- 
 tax founded upon principles fimilar to thofe which were impofed in the 
 reign of William the Third, might be adopted to confiderable advan- 
 tage, at leaft might bring in to the amount of ^oOyOOo I. per anmnu^ 
 at the rates which were then exaded. 
 
 It has long been a fubjed of complaint, that lawyers, phyficians, > ^f°'^^" 
 merchants, bankers, and other perfons of a fimilar defcription, do not pay 
 a proportionable Ihare to the revenue for the income they enjoy : and it ^ 
 
 has in general been fuppofed impradicable to levy any thing like an 
 equal tax upon thefe profeffions, from the great difference that exifts 
 between the profits acquired by one man, and by another; and indeed 
 from the Impoffibility of knowing the real gains of each individual. 
 
 There is a mode, however, by which this objedion may be removed : 
 the tax impofed upon profelTional men ought at firft to be very mo- 
 derate, but to the original fum an annual addition fhould be made, 
 which addition fhould every year be augmented ; and in partnerfhips 
 the tax fhould be ftill higher, as the profits generally are greater. In 
 moft profeflions young beginners are feldom at firft fuccefsful; but 
 there is no man who may not fucceed by perfeverance and attention : 
 and it might be held as an infallible rule, that thofe who continue long 
 in any one line, are lufEciently able not only to maintain jthemfelve?, 
 and any family they may have, nay, to lay up for the benefit of their 
 poflerity, but alfo to yield fome ihare of their profits to the public. 
 Perhaps the tax that has been lately impofed upon attornies, and thofe 
 upon dealers in various excifeable commodities, might upon thefe prin- 
 ciples undergo fomc ufelul alterations. 
 
 In regard to partnerfhips in particular, a tax upon them would not 
 only be a produdive fource of revenue, but would alfo prove an ufeful 
 
 regulation
 
 ijo HISTORY OF THE PUBLIC REVENUE 
 
 regulation of police. The public woald be no longer in the dark 
 (which is often the cafe at prefent) refpeding the perfons with whom 
 they deal, or againft whom legal procefs may be inftltuted. And as 
 partnerfhips are undoubtedly beneficial, in confequence of the great 
 extent of bufinefs that may be carried on, from the credit, the capital, 
 the commercial fkill and information of many perfons being united to- 
 gether ; a tax upon them, if not too exorbitant, cannot well be com- 
 plained of. The following rates, fuggefted by a perfon not unacquainted 
 with fuch topics, might fafely be adopted : 
 
 1. Bankers, both in town and country, who raife fortunes on the 
 property of others, without the ri{k of trade, and whofe numbers have 
 of late years furprifingly increafed, ought to be charged lo/. annually 
 for each partner. 
 
 2. In mercantile and manufaduring houfes, whofe bufinefs is feldom 
 fo extenfive, or at leaft fo profitable, ^h per anmim izom each partner 
 might be fufficient. 
 
 3. In the cafe of retailers and tradefmen, the tax might be as low as 
 2/. on each partner. 
 
 The produce of the tax may be thus calculated : 
 
 I. Two hundred banking houfes, at five partners in 
 
 each, paying 10/. for every partner^ - ^ 10,000 
 
 a. Fifteen hundred mercantile and manufaduring 
 houfes, at three partners in each, and at 5/. each 
 partner _ « _ _ 22,500 
 
 3. Three thoufand tradefmen and fhopkeepers, at two 
 
 in each partnerfhip, and 2/. for every partner 12,000 
 
 /44J 
 
 00 
 
 It would probably reach however 50,000/. ptr annum ; and when it 
 is confidered that the proprietor of a miferable hackney coach in 
 London pays at the rate of 26/. a-year to government, furely indi- 
 viduals of fuch property, fpirit, and confequence, as the generality of 
 
 * Where attornies enter into partnerfhip, they fliould be liable to the fame tax as 
 bankers. 
 
 perfons
 
 OF THE BRITISH EMPIRE. 191 
 
 perfons above alluded to, would not complain of the comparatively 
 fmall fums which are above fuggefted. 
 
 The trains of ftock- brokers, of late years, have not only jrreatly 8. Tax on 
 
 rfi r 1 rr- -j r, •,., iiock-bro. 
 
 increaled, but, irom the progreliive magnitude or the national debt, kers. 
 are likely to be augmented. Though in confequence of the low price 
 of the funds, a hundred pound in money would have lately pur- 
 chafed nearly twice as much in the 3 per ce/iis. as it would have done 
 forty years ago'', yet their profit is the fame, the buying and felling 
 broker each receiving two fhillings and fixpence for every hundred 
 pound of ftock that is transferred. The facility alfo with which 
 brokers can transfer among themfelves, encourages among them a 
 gambling fpirit, and partly occafions thofe fluftuations in the price of 
 ftocks, which are fo injurious to the credit of the country. Indeed 
 ftock-broking has become fo lucrative a trade, that the bankers in 
 London ftipulate that they are to receive one-half of the profits of fuch 
 bufinefs as they put into the hands of their broker ; nor is that an in- 
 confiderable fum in great banking houfes. 
 
 To lay a heavy tax upon every ftock-broker, might not be pro- 
 dudlive, as it would diminifli their number, and caufe the whole bu- 
 finefs to be concentered in a few hands \ But every individual of 
 that profeffion ought to be compelled to take out a licenfe, and to 
 fhare with the public a part of the profit that he gains ; which tax 
 might be colle^Tted at a fmall expence by the clerks who witnefs the 
 tranfadtion. As there cannot be lefs than thirty rhillions of ftcck 
 transferred every year, the profit of the brokers who buy and fell to 
 that amount, at five fhillings per hundred pound, muft produce 
 75,000/. one half of which, or 37,500/. might perhaps be exavSled 
 by the public. 
 
 ' On the 1 8th December 1752, the ^ per cents, bore the highefl prices known in this 
 country, namely, ic6^ per cent. On the 27th ot February 1782 they fell to 53', being 
 the lowed price ever heard of: at both periods the profits of the ftock-broker Were the 
 fame; confequently he received as mi;ch for negociating a transfer of 106/. "j s. bd. in 
 the one cafe, as for 53/. izs. 6d. in the other. 
 
 '' It is faid however that government might find fifty brokers who would pay 1000/. each, 
 for an exclufive privilege of a6tiiig in that capacity. But in that cafe gambling in the ailey, 
 to a great extent, might be apprehended ; and at any rate monopolies are invidious, and 
 ought if poflible to be avoided. The plan however would pay the interefl of a million of 
 money even at 5 per cent, if it could be lealized. 
 
 II If
 
 abfentees. 
 
 ,9a HISTORY OF THE PUBLIC REVENUE 
 
 g. Ta\- on If any fet of men, on account of their fituatlon in life, ought to be 
 
 fubjc£led to additional imports, and indeed made fcnfibly to feel the 
 iron hand of taxation, furely thofe who profels the principles of ce- 
 libacy, who live only for themfelves, and who, from their mode of 
 living, necefl'arily evade many taxes to which others are liable, are 
 ■entitled to a pre-eminence". Of late this defcription of men have 
 attracted the public attention, and fome difference has been made be- 
 tween the taxes which they pay for their domeftic fervants, and thofe 
 to which married people are liable. But the fame principle ought to 
 be extended to the carriages, horfes, houfes, and indeed every fpecies 
 ■of property they poffefs : and perhaps the tax impofed upon them in 
 the reign of King William ought to be revived'', fmce it would pro- 
 duce perhaps 100,000/. per atwum, and is a tax at the fame time which 
 enjoys this peculiar advantage, that the lefs it yields, the better it is for 
 the community. 
 
 10. Tax- on The wandering fpirit of the Englifla nation has often heeii re- 
 marked : there is hardly a corner of Europe in which Englifhmen may 
 not be found ; and wherever the accefs is eafy, the number is incon- 
 ceivable. Their mode of living abroad is alfo fo expenfive, that it is 
 generally fuppofed that above a million fterling is annually drawn 
 from this country to maintain the natives of it, who refide in foreign 
 parts. 
 
 That the public is far from fuffering when men of ability travel 
 for the purpofe of acquiring ufeful knowledge, I am very ready to 
 allow; and by' fuch individuals material improvements have been 
 made known and introduced. But furely the mafs of thofe who 
 wander over the continent, neither do any fervice to themfelves, nor 
 any credit to their country ; and the fyftem of educating our youth 
 abroad, of bringing them up in ignorance of the manners and language 
 of their country, and prejudiced in favour of thofe of other ftates, ought 
 to be feverely difcountenanced. 
 
 '* Were celibacy to become more general, either from the luxurious and expenfive man- 
 ners of the times, or from that laxity of morals that has become fo prevalent, it might be 
 confiderably checked in this country by a law, that no perfon fliould fit in either houfe of 
 parliament, or fiiould vote at any eleilion, but fuch as were or had been married. 
 * See part iii. p. 11. 
 
 The
 
 OF THE BRITISH EMPIRE. 193 
 
 The variety of new taxes alfo which have heen recently impofed, 
 renders it particularly neceflary to adopt fome regulations to check fuch 
 deflrudive emigrations. France already plumes itfelf with the idea 
 that many natives of England, induced by the greater cheapnefs in 
 living, and to fecure an exemption from many taxes which we are 
 under the neceffity of paying, will abandon their native homes and 
 refide in that country ; and to encourage' fuch a fpirit, M. Necker has 
 inculcated the propriety of renouncing the Droit d'Aubaine, or the 
 right which the king of France enjoys to the efiecls of thofe aliens 
 who die in his dominions, without being naturalized". 
 
 As the beft mode of checking fo fatal a fpirit of emigration, it 
 might be proper to appoint cpmmiffioners, without whofe permiflion 
 no fubjedt of Great Britain fhould be permitted to refide on the con- 
 tinent. Previoufly to the granting of any licenfe, an account of the in- 
 come of the perfon who required it, ought to be given, and if it were 
 thought neceflary it fliould be verified on oath : a duty of four (hil- 
 lings in the pound fhould be required for every year of abfence : a lefs 
 fum might fufiice for a fhorter^ period ; and perhaps fuch as do not 
 remain abroad above three months, might be totally exempted. All 
 parents who educate their children in foreign femiuaries, fliould be 
 liable as if they themfelves were abfentees ; and fuch as receive any 
 money from the public, as placemen, clergymen, military officers, Siff. 
 (ambalTadors, always. excepted), ought to, pay five fhillings in the pound ^ 
 By eftablifliing fuch regulations, whether men lived abroad or at 
 home, it would be equal to the public : in either cafe, every indi- 
 vidual would bear a juft proportion of the burdens of the nation. It 
 is to be remarked that only four fhillings in the pound, on only half a 
 million, which is the leafl at which the income of abfentees can be 
 eftimated, would produce one hundred thouland pounds. 
 
 Many zealous friends to the purity of the Britifli conflitution have n. Tax on 
 of late ft:rongly enforced the necefllty of a parliamentary reform; and ar"'repre-'' 
 there are none (the enemies of all innovation only excepted) who do fenution. 
 
 "^ Vol. iii. chap. xxv. There are, it is faid, above 40,000 Britifli fubjed^s in France 
 alone, whofe expenditure, at 20/. each, would amount to ^00,000/. per annum. 
 
 ' Thofe who brought home new inventions, or ufeful information, might be rewarded by 
 having their portion of the tax refunded. 
 
 Part III. , C c not
 
 ^94 HISTORY OF THE PUBLIC REVENUE 
 
 not acknowledge the propriety of fuch a meafure, were It pofTible to 
 point out a plan that would be generally acceptable, or to hit upon a 
 proper medium to which all parties would give their confent. As that 
 is hardly to be expedled, let us next confider whether the conftitution, 
 as it now exifts, might not be rendered fubfervient to the purpofcs of 
 revenue. 
 
 It was an idea that prevailed in fome of the free governments of 
 antiquity, that every individual fhould pay in proportion to his power 
 and authority in the ftate ; nor was it reckoned at all injurious to the 
 commonwealth, that thofe who contributed largely to the public fup- 
 plies, {hould have confiderable weight in the deliberations of the 
 nation. Upon this principle the comitige centuriatas of the Roman 
 republic were fo conftituted, that they were in a manner entirely go- 
 verned by the refolutions of the opulent, who on that account had the 
 principal load of defraying the expences of government thrown upoa 
 them. 
 
 In this country it is well known that the legiflative authority of the 
 ftate is at prefent, in a great meafure, centered in the commons houfe of 
 parliament. Hence it is a regulation which, upon the principles above 
 alluded to, could not with juflice be objedted to, that every eledlor 
 fhould pay a certain rate, fuppofe ten fhillings per annum^ for the pri- 
 vilege he enjoys^ ; and that every diftridl fhould pay one hundred 
 pounds a-year for every member it fends to parliament. A con- 
 fiderable fum would in this manner accrue to the public. As there are 
 at leaft two hundred thoufand electors, a tax of ten fhillings each 
 would produce 100,000/. and 55,800/. would arife from the pro- 
 pofed duty on each parliamentary diftriil. Perhaps even a greater 
 fum might be demanded ; at any rate a contribution of that nature 
 would diminifh the odium of thofe important privileges, which fo 
 many petty, unknown, and infignificant places at prefent polfefs. 
 Nor would it be a trifling advantage, that the real electors might 
 thus be known, and their names duly regiftered ; fo that all difputes 
 
 B An ingenious friend of mine fuggefts, that the ufual oath taken by eleflors fliould be 
 fworn before a juftice of the peace, and written on a ten (hillings ftamp. It would fhorten 
 the poll confiderably, and infure the levying of the tax in contefted elections. 
 
 with
 
 OF THE BRITISH EMPIRE. 195 
 
 "With regard to the right of polling would for the future be pre- 
 vented''. 
 
 Corporations are in general fuppofed to have fprung from the happy , 2. Tax on 
 policy of Numa, who, finding that his fubjeds confifted of two na- corporations, 
 tions, differing from each other in manners, in language, and in 
 origin, endeavoured to promote a fpirit of union among them, by 
 incorporating fuch individuals as followed the fame trade into one 
 body, wifely conje£turing that by frequently affembling in the fame 
 place, and making ufe of the fame religious ceremonies, their mutual 
 prejudices would wear away. To attain fo great an objedt, many 
 important privileges were bellowed upon the Roman corporations. 
 They were permitted to purchafe property, to enad: bye-laws among 
 themfelves, for the proper adminiftration of their affairs (provided 
 they were not repugnant to the laws of the country), and in addition 
 to other rights and franchifes, the property they acquired was pro- 
 te£ted from embezzlement and lofs, by ftatutes peculiarly favourable. 
 From the Roman law thefe regulations have been borrowed by the 
 modern nations of Europe. 
 
 It has been much queftioned, however, whether corporations, in 
 thefe times, are ufeful or prejudicial to a ftate. To encourage a fpirit 
 of monopoly, the neceffary confequence of their eftablifliment, is juftly 
 accounted not a little hurtful to induftry. A free market for exertion 
 of every kind, is fuppofed to be the beft mode of infuring the profperity 
 of a nation. Without entering into fo complicated a fubjeiSt, it will 
 be fufficient for our prefent purpofe merely to confider whether corpo- 
 rations may not furnifh an important fource of revenue. 
 
 It is known that there are in England alone, about 250 greater, be- 
 fides an infinite number of fubordinate corporations. The greater, one 
 with another, perhaps enjoy eftates yielding 1,000/. each at an average, 
 or 2i;o,coo/. and the property of the fubordinate ones cannot be left, 
 making in all 500,000/. Indeed the income of the various companies 
 in London, as the grocers, fifhmongers, ironmongers, goldfmiths, Ikin- 
 ners, ^c. will alone amount to one fifth part of that fum. It would 
 
 •■ A regulation of the nature above fuggefied, would anfwcr the purpofes of regiftratioii 
 equally well with Lord Stanhope's bill, which, though originating from the beft intentions, 
 was in many refpeds exceptionable. 
 
 C C 3 not
 
 the church. 
 
 196. HISTORY OF THE PUBLIC REVENUE 
 
 n.Qt-bc neceflary, however, to tax the revenues of incorporated towns, 
 if fufficient care were taken of their expenditure, and if the money they 
 received were properly laid out in building ornamental, or neceflary 
 public edifices, fuch as churches, towa halls, prifons, fchools, and the 
 like, or in improving the harbours, canals, and navigable rivers in their 
 neighbourhood. But, with regard to the inferior corporations, their 
 income is fwallowed up by thofe who have the management of their 
 affairs, or wafted in iiielefs feafts, empty parade, or wanton charities.. 
 A tax of five {hillings in the pound upon their eftates could not be pre- 
 judicial, and would produce 62,500/. /^r fl«;^2^//z. 
 13. Taxeson Of all the corporations that exift in this country, none can be com- 
 pared in point of dignity, importance, or wealth, with the church of 
 England, including the various feminaries in the univerfities of Oxford; 
 and Cambridge, which are fo intimately conneded with it. 
 
 Many friends to ecclefiaftical reformation have contended that a com- 
 plete alteration of the prelent fyftem is neceflary ; that the hierarchy- 
 ought to be totally abolilhed, and its property vefted in the public j and 
 that either a national church ought to be eftabhfhed on the prefbyterian- 
 model, being the leaft expenfive ; or, that the clergy fhould be left en- 
 tirely dependant on the voluntary contributions of the people. But ia 
 every plan of fo important a nature, extremes ought to be avoided; and^ 
 a prudent man, who would net probably give his voice in favour of the 
 hierarchy, were it now for the firft time to be propofed, inftead of. 
 rafhly altering ancient inftitutions. to which a nation has been accuf- 
 tomed, would rather endeavour to make the prefent church eftablifh- 
 ment of as much public fervice as poffible, by compelling the clergy to 
 refide more in their refpe£tive parifhes ; and, in fome cafes, by impofing 
 additional taxes upon the income they pofl'efs. 
 
 It has already been remarked, in a former part of this work, that 
 prior to the reftoration, or at leaft to the eftablifhment of the common- 
 wealth, the clergy taxed themfelves, and frequently paid two fhillingS' 
 in the pound more than their lay brethren. Without extending fuch a. 
 regulation to the whole church, it might furely be adopted fo far as 
 refpects fome particular claflTes '. 
 
 ' It need hardly be remarked that the property of the church is fubjeit to the prefent 
 land tax in common with the reft of the kingdom. 
 
 There
 
 OF THE BRITISH EMPIRE. 197 
 
 There is no tax that has been more generally approved of, than that 
 which impofed a certain duty upon the different finecure offices of the 
 ftate; and it has been well urged, that fince thofe who are employed 
 in the fervice of government, muft fubmit to the redudion of their fa- 
 kries, why fhould not the dignified clergy, who enjoy many valuable 
 places, with very little trouble attending them, be confidered in the 
 fame light, and be made fubjedl to the fame law, particularly as the 
 offices held by deans, refidentiaries, canons,^ prebendaries, precentors, 
 treafurers of cathedrals, matters of colleges, ^c. have this advantage 
 over many of the civil offices, that they are enjoyed for life, and that 
 the holders cannot poffibly be deprived of them by any thing fhort of 
 Legiflative authority ^. 
 
 Thofe who enjoy a plurality of livings ought alfo to be liable to an 
 additional tax of two {hillings in the pound. However vehemently 
 fiich accumulations may be defended ', they are equally contrary to 
 the genuine principles of ecclefiaftical polity, and to the foundefl: doc- 
 trines of the Chriftian religion. When once the extent of a parochial 
 diftrid is afcertajned, if it firrnifhes a fum adequate to the maintenance 
 of a paftor, the inhabitants of the diftridl are entitled to have a clergy- 
 man refiding among them, to inculcate the principles of religion, and 
 to edify them by his example ; and if a plurality of livings is at all to 
 be permitted, fuch as are fuffered to enjoy fo confiderable an advantage 
 ought to pay a duty to the public for the privilege they poffefs. 
 
 Heavy taxes ought alfo to be laid upon non-refident clergymen, 
 whether pluralifts or otherwife, who do not fulfil the object of theii* 
 appointment ". The ignorance and profligacy of the lower ranks in 
 England are, perhaps with fome juftice, attributed to the inattention of 
 their paftors. It cannot be expedted that thofe who, are abandoned by 
 their natural inftrudter, and left to the guidance of their own impetuous 
 
 •^ See Confiderations on a new Place-tax, printed anno 1756. 
 
 ' Mr. Wharton, in his Defence of Pluralities, as now praftifed in the church of Eng- 
 land, printed anno 1703, has attempted to defend the holding of two benefices at the fame 
 time; but his principal argument is, that pluralifts are not more ufelefs in their profeflion 
 than non-refiding clergymen ; which cannot have much weight with any body, and far lefs 
 with thofe who think that all clergymen (hould be refidents. 
 
 ■" Perhaps the tax fhould alfo be extended to thofe who prefent themfelve?, and who con- 
 fidex the livings in their gift in the fame manner as an hereditary ellate. 
 
 paffions.
 
 198 HISTORY OF THE PUBLIC REVENUE 
 
 pafTions, (hould always adt as becomes the profefTors of the Chrlftiaii 
 religion. And it is of little confequence that a wretched curate is left, 
 with a pitiful falary, to conn over the lelFons of the day, or to preach a 
 cold and lifelefs fermon upon Sunday, whilft his proud fuperior is 
 amudng himfelf in the capital, or wandering from one watering-place 
 to another, in fearch of pleafure and preferment. 
 
 But if it is thought dangerous or impolitic to carry thefe principles 
 into efFedl, yet furely the clergy ought no longer to be fuffered to en- 
 grofs any part of the national income. In the reign of Queen Anne a 
 popular cry was raifed in favour of the church, of which a party in op- 
 pofition took advantage to overturn the adminiftration of the day; and, 
 in recompence thereof, an adl was pafled by the influence of the new 
 minifters, in confequence of which the firft fruits and tenths, a part of 
 the revenue of the crown, were taken from the public, and appropriated 
 to the augmentation of the fmaller clerical benefices. This branch of 
 the revenue amounted to about 14,000/. ^^r annum; and on the firft of 
 January 1735, the governors of that charity poiTefled befides, from 
 favings and private benefadlions, the fum of 152,500/. of Old South 
 Sea Annuities, and 4857/. 2J-. 1 1 </. of cafh in the hands of their trea- 
 furer". The ftate of that fund has, of late years, been carefully con- 
 cealed ; but it probably yields at prefent from forty to fifty thoufand 
 pounds per annum : and furely, if the fmall livings of the church re- 
 <iuired to be augmented, it is not from the revenue belonging to the 
 crown and to the public, but from the church itfelf, vi^here its emolu- 
 ments are confefledly too great, that the addition ought to be demanded. 
 14. Tax on It is generally fuppofed that as much money is expended in Great 
 amufemencs. Britain and Ireland in fupporting public entertainments, as in one half 
 of Europe. By fome it is imagined, that the paffion which the Englifli 
 indulge for thefe amufements, might be rendered lubfervient to the pur- 
 pofes of the ftate, and that by impofing a ftamp duty upon all tickets of 
 admiflion, according to their value, a confiderable fum might be raifed 
 without doing any material injury to the perfons by whom fuch public 
 places are conduded. It Is a tax that would only affeift the opulent and 
 
 " See Lords Journals, vol. xxiv. p. 665. The return was printed anno 1736, in one 
 volume folio. 
 
 2. the
 
 OF THE BRITISH EMPIRE. 
 
 199, 
 
 the idle ; and though, after having been voted by parliament, it was 
 given up by the minifter vv^ho propofed it, yet the future exigencies of 
 the nation may render fuch a meafure neceffary. As an additional in- 
 ducement to fuch a tax, it may be urged, that a multitude of public 
 fpedacles is inconfiftent with the principles of good police, and has a 
 deftru61;ive tendency on the morals of the people. 
 
 The number of dogs that wander about in this country, has been '5- Dog tax. 
 long complained of as a public nuifance. The quantity of food that it 
 requires for the fuftenance of thefe animals; the damage they occafion. 
 in the country by deftroying fheep, lambs, Is'c. the improper ufe that is 
 made of them by poachers and deftroyers of game ; and the miferable 
 confequences that enfue when they happen to be infedled with madnefs, 
 are accounted ftrong objedions, in point of policy, to the fuffering 
 them to exift in fuch multitudes : and it has been afftrted, that the heft 
 mode of remedying the evil is, to impofe a tax upon thefe animals, to 
 be paid by their reipe£tive proprietors. 
 
 Perhaps a duty of this nature might yield fome revenue, and at the 
 fame time might prove a proper regulation of police °. The produce 
 may be thus eftimated : There are above ten thoufand larger parifhes in 
 the kingdom ; and if twenty-five dogs remained in each after the tax was 
 
 " The following rates have been fuggefled by an honourable gentleman, who is no 
 ftranger to the pleafures of the chafe, as not too exorbitant fhould a dog tax ever be 
 enafted. 
 
 Annual Tax, 
 
 For every pack of fox or deer hounds - — ^^ 30 o 
 
 For every pack of terriers - - _ 10 O o 
 
 For every greyhound or lurcher above the age of fix months - 2 2 O 
 
 For every pointer or fetter above the age of fix months - i i o 
 
 For every fpanie! or cock-dog - - - O 10 6 
 
 For every terrier that is not kept in the kennel with the fox hounds 010 6 
 
 For every mafl iff, and all dogs not ufed for fporting - 5 o 
 
 The duty to become due on the firft day of Auguft in every year, and to be received by 
 
 the parochial colle<£tor of land tax in each parifh, and by him to be paid to the receiver of 
 
 the county. As confiderable trouble will arife in colle(3ing the money, it will be proper 
 
 to allow five per cent, to the colleftor. Every dog to wear a collar, with the owner's name 
 
 and place of abode, and a number flamped upon it. In default of payment, the dog to be 
 
 forfeited, and the proprietor to be liable in a penalty of twenty fhillings, on information 
 
 before any juftice, with an appeal from his fentence to the quarter fclTions. 
 
 impofed.
 
 tax. 
 
 30D "HISTORY OF THE PUBLIC REVENUE 
 
 impoled, and if each dog was charged at the rate of five ftiillings, the 
 produce would be 62,500/. Perhaps there is no mode by which that 
 fum could be raifed, that would be more generally popular and lefs ob- 
 jedted to. 
 16. Hide In a work attributed to the famous Dr. D'Avenant, publlfhed anr/o 
 
 1710'', an enumeration is made of the different plans of taxation that 
 were cuiTent at that time, with the arguments that were ufed either in 
 their favour or otherwife. To a general excife it was objected, that it 
 would only anfwer upon bulky articles of confumption, and could not 
 well be collected except in fortified towns, fuch as thofe in France, in 
 Flanders, and in Italy. A duty upon wool, which it would feem was 
 alfo in contemplation, was thought too unpopular to be touched upon, 
 and would either prove burdenfome upon our manufadlures, if it was 
 charged at a high rate, or if the duty was low, muft be unprodufcive. 
 A tax upon corn at the mill, it was well urged, would create a multi- 
 tude of officers, and, inftead of attacking the luxurious vices of the 
 rich, would have the effedt of rendering the fubfiftence of the poor 
 more difficult. A duty upon fleffi, fifh, fowls, i£fc. had been already 
 unfuccefsfully attempted under the arbitrary government of the com- 
 monwealth. And an impoft on the heads of living cattle, which had 
 been alfo propofed, would be difficult to colle(Sl:, and might eafily be 
 e\'aded ; and, on account of the great difierence in point of the fize and 
 value of one animal from another, and the different price they would 
 fetch at the capital and in the remote corners of the country, would be 
 unequal. Indeed, after going through a variety of financial projects, 
 the only great and unexceptionable refource that occurred to the poli- 
 ticians of thofe days, was a grant to the crown of the hide of every ox, 
 bull, cow, fteer, and heifer ; and of the fkin of every calf, fheep, and 
 Iamb, which fhould either die or be killed in the kingdom ''. 
 
 f Printed in two volumes, and intitled, New Dialogues on the prefent Pofture of Affairs, 
 the fpecies of money, national debts, public revenues, (Jc. faid to be written by the author 
 of the Efl'ays on Ways and Means, the name which D'Avenant put to all his works. It 
 is not included in the collection of them publifhed by the late Sir Charles Whitworth, but 
 bears every internal mark of authenticity, being full of important facts and ufeful informa- 
 tion. As this work is hardly to be met with, it would be defirable to have it reprinted in 
 the fame manner with his other publications. 
 
 •J New Dialogues, vol. ii. p. 186. 
 
 It
 
 OF THE BRITISH EMPIRE. 
 
 It may not be Improper to give a ftate of the eftimates that D'Ave- 
 nant formed of the probable value of the grant. 
 
 FIRST TABLE. 
 
 AMOUNT of the Stock, Breed, and Annual Consumption of 
 Cattle and Sheep In Great Britain. 
 
 zoi 
 
 
 Stock. 
 
 Breed. 
 
 Annual confumption. 
 
 Grofs value 
 of each. 
 
 Tola! grofs 
 value. 
 
 Beeves and ) 
 Calves i 
 
 Sheep and ) 
 Lamb 5 
 
 4,400,000 
 18,000,000 
 
 1,050,000 
 6,360,000 
 
 5 Beeves 800,000 
 I Calves 250,000 
 J Sheep 4,400,000 
 I Lamb 1,960,000 
 
 £■ •■ d. 
 360 
 12 
 066 
 044 
 
 £• 
 
 2,640,000 
 150,000 
 
 1,430,000 
 424,667 
 
 
 22,400,000 
 
 7,410,000 
 
 7,410,000 
 
 
 4,644,667 
 
 SECOND TABLE. 
 
 Value and Weight of each. 
 
 
 
 
 Value of offal 
 
 Value ot 
 
 the 
 
 Weight of 
 
 Price of a 
 
 Value of the net carcafe. 
 
 
 and tallow 
 
 hide or 
 
 ikin 
 
 each net 
 
 pound wt. 
 
 
 
 
 of each. 
 
 of each 
 
 
 carcafe. 
 
 of each. 
 
 
 £■ '• 
 
 d. 
 
 £■ >■ d. 
 
 £■ '■ 
 
 d. 
 
 lb. 
 
 d. Jenibi, 
 
 Beeves 
 
 2 12 
 
 6 
 
 074 
 
 6 
 
 1 
 
 370 
 
 I 7 
 
 Calves 
 
 10 
 
 
 
 I I 
 
 
 
 II 
 
 50 
 
 2 4 
 
 Sheep 
 
 4 
 
 8 
 
 009 
 
 I 
 
 I 
 
 28 
 
 2 
 
 Lamb 
 
 03 
 
 7 
 
 ■005 
 
 
 
 4 
 
 18 
 
 2 9 
 
 Part III. 
 
 D d
 
 202 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 THIRD TABLE. 
 
 Value of the Annual Consumption. 
 
 
 Value of the flelh. 
 
 Offal. 
 
 Hides and (kins. 
 
 Total value. 
 
 Beeves - 
 Calves - 
 Sheep 
 Lamb 
 
 £■ 
 2,100,000 
 
 125,000 
 
 1,026,667 
 
 351.167 
 
 £■ 
 
 ^93>333 
 13.542 
 
 165,000 
 40,833 
 
 £■ 
 246,667 
 
 11,458 
 
 ^3^^333 
 32,667 
 
 £ 
 2,640,000 
 
 150,000 
 
 1,430,000 
 
 424,667 
 
 
 3,602,834 
 
 512,708 
 
 529,125 
 
 4,644^667 
 
 FOURTH TABLE. 
 
 Consumption of London and the Bills of Mortality. 
 
 Annual confumptif n. 
 
 Value uf the 
 carcafe. 
 
 Amount- 
 
 Value or the 
 offj). 
 
 Amount. 
 
 Value of tlif 
 hiHps or /kins. 
 
 Amount, 
 
 Beeves 160,000 
 
 Calves 50,000 
 
 Sheep 880,000 
 
 Lamb 392,000 
 
 £■ '• 
 At 4 4 
 
 c 15 
 
 o 8 
 
 o 6 
 
 1,482,000 
 
 676,000 
 
 37.500 
 
 352,000 
 
 127,400 
 
 £■ '■ d. 
 
 Ato 12 6 
 o I 9 
 012 
 007 
 
 £■ 
 
 100,000 
 
 4.375 
 51.333 
 
 ".433 
 
 £• '■ d- 
 At o 9 6 
 016 
 I 8 
 006 
 
 £■ 
 76,000 
 
 3.750 
 
 73.324 
 
 9.,8co 
 
 1,192,900 
 
 167,141 
 
 162,874 
 
 FIFTH TABLE. 
 
 Consumption of the reft of England. 
 
 Yearly confumption. 
 
 Value of 
 carcafe. 
 
 Amount. 
 
 Value of 
 cfFal. 
 
 Amount. 
 
 Value of hides 
 or /kins. 
 
 Arnount. 
 
 Beeves - 640,000 
 Calves - 200,000 
 Sheep - 3,520,000 
 Lamb - 1,568,000 
 
 At2 5 
 076 
 3 9 
 030 
 
 £■ 
 
 1,440,000 
 
 75,000 
 
 660,000 
 
 234-934 
 
 s. d. 
 
 At 6 o| 
 n 
 
 7-1 
 Ak 
 
 £• 
 
 '93.333 
 9,167 
 
 1 13,667 
 29,400 
 
 s. d. 
 
 At 5 4 
 9i 
 Hi 
 
 3i 
 
 £■ 
 170,667 
 
 7,703 
 
 165,099 
 
 •22,867 
 
 2 J Country 5,928,000 
 jH 1 London 1,482,000 
 
 
 2,409,934 
 1 ,192,900 
 
 
 34^567 
 '.67,141 
 
 
 366,2^1 
 162,874 
 
 7,410,000 
 
 3,602,834 
 
 512,708 
 
 529,125
 
 OFTHEBRITISHEMPIRE. io? 
 
 3 
 
 SIXTH TABLE. 
 
 Amount of the Tax. 
 
 Hides and fkins in London ~ . £ 162,874 
 
 Ditto in the reft of England - 366,25 1 
 
 Ditto in Scotland _ - _ 30,526 
 
 Total ;C 559^65 1 
 
 But it was propofed that one fourth of the value fhould be given to 
 the proprietor upon the delivery of the hide or Ikin ; confequently the 
 net produce would not exceed 419,738/. ^s. 
 
 There is no fcheme of taxation that ftrikes me as being better in- 
 titled to public attention than this duty upon hides. It is an impoft 
 which, as D'Avenant well obferves, would fall chiefly upon the rich, and 
 could be colledled at a very inconfiderable expence. It would fall upon 
 a great variety of people, and confequently would be lefs felt ; for part 
 of the tax would be paid by the grazier, part by the butcher, or retailer, 
 and the remainder by the laft confumer, from whom a higher price 
 for the meat would be demanded : and pork being exempted from the 
 tax, the poor might furnifh themfelves with that fpecies of meat at 
 a cheaper rate. Indeed, if a tax upon butchers meat were at any 
 time to be under the contemplation of government, and there is no 
 faying to what neccffities the country may be driven, this feems to be 
 the heft and moft equitable mode by which it could be colle(Sled. 
 
 The above tables furnifli room for important fpeculation. 
 
 The great difference in regard to the fize of the cattle and the price of 
 meat, in the reign of Queen Anne and the prefent time, muft ftrike 
 every one. As to the firft point, bullocks now killed in London weigh, 
 at an average, 800 //5. ; calves, 148 //5. ; fheep, 80/^. ; and lamb about 50//^. 
 each. This proves the great progrefs that has been made in agriculture, 
 and how much the art of fattening and increafmg the fize of cattle has 
 been improved. As to the price of meat at prefent (June 1788), beef 
 
 D d 2 fells
 
 204 HISTORY OF THE PUBLIC REVENUE 
 
 fells for \d. per lb. veal for 5^. mutton for 4,!^. grafs lamb for (>d. when 
 purchafed even in wholefale, for the confumption of London : the 
 retail price is flill more confiderable. The value of the hides and fkins 
 alfo is greatly augmented : thofe of oxen being about twenty fhillings, 
 of calves about feven (hillings and fixpence, the fkins of fheep, with the 
 wool, about live ihillings, and of lambs, about two fhillings and fixpence. 
 It is farther to be remarked, if we may judge from the following 
 authentic flatement of the number of fheep and cattle brought to Smith- 
 lield market from Michaelmas 1730 to MichaeLiias 1785, that the cal- 
 culations made by D'Avenant of the confumption of London and the 
 bills of mortality were rather exaggerated. 
 
 Sheep. Cattle. 
 
 Average for five years ending Michaelmas 1 735 568,060 93,655 
 Ditto, ending ditto - - 1740 599,466 97,548 
 Ditto, ending ditto - - 1745 53^^34 85,892 
 Ditto, ending ditto - - 1750 655,516 80,87^ 
 Ditto, ending ditto - - 1755 680,618 80,843 
 Ditto, ending ditto - - 1760 616,750 91,699 
 Total, anno - , - 1761 842,080 121,175 
 Average for four years, ending Mi- 
 chaelmas - - 1765 635,247 S6,SSS 
 Ditto for five years, ending ditto 1770 632,812 84,244 
 Ditto, ending ditto - 1775 612,076 91,441 
 Ditto, ending ditto - 1780 685,700 96,288 
 Ditto, ending ditto - 1785 686,298 100,551 
 
 It appears, however, from the report of the committee of the court 
 of common council, appointed by the city of London, anno 1786, to 
 confider of the caufes of the high price of provifions, that confiderable 
 numbers both of cattle and fheep are made ufe of in the metropolis, 
 which never appear at Smithfield, and confequently the number of 
 fheep confumed in London may be calculated at 730,000 /. and of 
 cattle at 110,000/. This is greatly under D'Avenant's eftimates ; but 
 that may be partly owing to the aftonilhing difference in point of weight 
 between the cattle and fheep of the two periods. 
 
 It
 
 OF THE BRITISH EMPIRE. 205 
 
 It was remarked in a former part of this work' that the funding >7-Taxof 
 fyftem could hardly be carried on with advantage, unlefs for the purpofe of the income of 
 diminifhing the public debts, fome great and produdlive tax was efta- '''^ '^"'l- 
 blifhed, proportioned to the wealth of the nation and the debts that it 
 had incurred ; and for that purpofe, that it might be proper to enadt a 
 permanent regulation, by which every individual having property in 
 England, whether native or foreigner, fhould be under the neceffity of 
 leaving to the pubiic at leaji one half of his clear aimual income in this 
 country at the time of his death. No teftament ought to be valid without 
 fuch a bequeft; and if any perfon died inteftate, a year's income fhould 
 be required. In favour of fuch a tax the following arguments may be 
 urged. 
 
 It is only in confequence of the proteftion of government, that ari 
 individual enjoys the high prerogative of leaving his property to anv 
 perfon he may prefer, or, failing of any delHnation of his own, that 
 his defcendants or near relations fucceed in preference to every other. 
 And as the public thus fecures to individuals fo important a privilege, it 
 is well intitled to fome fhare of the wealth they leave behind them for 
 execu ing either the real will, or what the law interprets to have been 
 the wifhes of the deceafed. 
 
 It is next to be confidered, that the tax Is not paid until the perfon 
 receives property much more than fufficient to enable him to do it with 
 eafe ; and that when property is firft transferred into the hands of any- 
 individual, he parts with it with much greater facility than when it has 
 been fome time in his pofleiTion. 
 
 Indeed the tax would only be a revival of the feudal incident known- 
 under the name of Relief ox Primer Seifcn^ extending to perfonal that 
 which was formerly reftritfled to landed property. Inheritances too in- 
 confiderabie to bear the burden with cafe, might be exempted, without 
 materially diminifhing the produce of the tax ; and fuch as paid largely 
 to the exchequer, inftead of any compundion, would have reafon to 
 congratulate themfelves In proportion to the magnitude of the duty to 
 which they were made liable. 
 
 Various other taxes might be fuggefted. A ftamp duty upon prints is. Mlfcella- 
 has often been recommended. Buttons, buckles, and flioes, have been "^°"^ '^•"^'' 
 
 ' Part ii. p. 32. 
 
 talked
 
 2o6 HISTORY OF THE PUBLIC REVENUE 
 
 talked of. Carpeting, and other articles of furniture, it is faid, might 
 be taxed to advantage. The duty on aliens might, in fome cafes, be 
 increafed'. A tax on lodgings might be laid on to difcourage celibacy, 
 and a ftamp-duty upon tavern bills as a burden upon the diflblute and 
 the idle. Some have propofed that the living fliould pay for the liberty 
 of wearing watches; and others, that a fum of money fhould be ex- 
 acted from the property of the dead in proportion to the expcnce of 
 any monument that may be eredled to their memory \ The law, by. 
 regifters, ftamps on briefs, and other means, might furnifli important 
 fources of revenue. In (hort, the modes that might be propofed for the 
 purpofes of additional taxation, are innumerable. But it is to be con- 
 fidered that all the power and ingenuity of man cannot carry the in- 
 come of the public beyond certain boundaries. An able minifter may 
 acquire fuch accurate information regarding the political circumftances 
 of a country, as to know, with fome degree of preclfion, to what ex- 
 tent thofe boundaries may be ftretched ; and a wife ftatefman will not 
 
 * A very intelligent^merchant fent me the following plan refpetSing an additional duty 
 en al!c?is, by which either the revenue or the navigation of the country muft neceflarily be 
 increafed. 
 
 It is well known, that about 44,000 barrels of tar and pitch are annually imported into 
 this kingdom in Swedifli bottoms. When Britifh (hips load thefe articles in Sweden, they 
 are charged i s. ^.d. per barrel, over and above the duty that is charged on fliips belonging 
 to S wedifh fubjeds ; whereas in England the difference of the duty imported in Swedifh or 
 ' Britifli bottoms, is only one penny />^r barrel in favour of Britifli fhips; confequently we 
 import thofe articles in our own fliips with a lofs of i ^. 3 d. per barrel. Can it then be 
 wondered at, that the greater part of this trade, with fuch an advantage in favour of the 
 Swedes, fhould be carried on in {hips belonging to Swedifli fubjefls ? 
 
 If an additional aliens duty in England of i s 34/. per barrel were levied on tar and pitch 
 imported in fliips belonging to Swedifli fubjeds, the trade would then be more equally car- 
 ried on by the fubjedis of both kingdoms. 
 
 Admitting that 22,000 barrels of tar and pitch would continue to be imported by Swedifli 
 fhips, the additional aliens duty would raife 1375/. and were the remaining 22,000 barrels 
 to be imported in fliips belonging to Britifli fubjedls, it would furnifli employment to 22 
 fail of fliips of 200 tons burthen each, and manned by 220 Britifh feamen, the profits of 
 which would centre in this kingdom, in addition to the advantages which would be derived 
 from fuch a regulation by Britifh fhipbuilders, and various other tradefmen. 
 
 • It is not unufual to require a fine from thofe who have flones placed over their graves ; 
 to one half of which the public might be intitled, and theparifli might be fatisfied with the 
 
 other. 
 
 fall
 
 OF THE BRITISH EMPIRE.. 207 
 
 fail to difcover the means of levying the fums that can be raifed, in a 
 manner the leaft capable of injuring the various complicated interefts of 
 a nation. — But to what extent, in regard to aftual produce, taxes may 
 be carried in this country, will be the fubjedl of future difcuffion. 
 
 4. LUCRATIVE FINANCIAL PROJECTS. 
 
 There is no mode by v\/^hlch a public revenue can be raifed in a 
 manner fo popular and fo unexceptionable, as by carrying into execu- 
 tion for the public behoof fuch plans as may yield confiderable profits 
 to the exchequer, without impofing additional, or at lead ufelefs, bur- 
 dens upon the people. The poft office is the only inftance, at prefent, 
 of fuch a fyftem in the finances of this country. But there are many 
 other refources of the fame kind well intitled to the attention of a 
 ftatefman. 
 
 The firft plan of that nature that ought to be confidered is, how to 
 encourage, as much as poflible, the voluntary contributions of public- 
 fpirited individuals. 
 
 A foreign author whofe work is full of important political informa- ,. Voluntary 
 tion ", after remarking that the only folid proof that England can give '^.<'"="''"- 
 of her ftrengtli, is the extinction of her public debts ; adds, that fuch is 
 the patriotic zeal which flourilhes in this country, that he fhould not be 
 furprifed to fee the nation exhibit this fingular fpedacle in the eyes of 
 Europe ; that of difcharging all its incumbrances by voluntary fub- 
 fcription". It is with pleafure I embrace an opportunity of dating, from 
 an impartial and diilnterefted writer, fo favourable a teftimony of 
 the public fpirited character of my countrymen. Nor is it without 
 foundation that he hazards fuch an opinion j for the following circum- 
 
 " Les Interets des Nations de I'Europe develope relativement au Commerce. Qtiarto, 
 a Leide 1766. 
 
 ^ " Cezile patriotique eft peiitetre le fonds le plus riche de la nation Britaiiniqiie; ce 
 " zele excite plus que jamais, dans la Grand Bretagne, par la haute idee de Ton empire 
 " univerfel ; il nc feroit pas etonnant de voir cctte nation donner a I'Europe le finculier 
 " fpeitacle, du payement de fa dette par voye defoufcription." Tome premier, p. 216. & 
 220.— It is hardly neceilliry to remark that this work was publiflied before the American 
 war. 5 
 
 fiances 
 
 tions.
 
 2o8 HISTORY OF THE PUBLIC REVENUE 
 
 fiances will prove, that had proper meafures been adopted at the com- 
 mencement of the prefent century to encourage fuch zeal in individuals, 
 the nation would probably have been free from no inconiiderable part 
 of its burdens at this hour. 
 
 When the revenue arifing from the firfl: fruits and tenths was origi- 
 nally appropriated for ecclefiaftical ufes, various means were adopted that 
 might incite private individuals to devote fome part of their property to 
 this purpofe ; and it is an important circumftance to mention, that in the 
 fpace of about thirteen years and a half, commencing anno 1714, no 
 lefs a fum than 135,261/. was bequeathed by different perfons for 
 augmenting fmall livings in England ^ That was at the rate of about 
 10,000 1, per annum; and fuch a fum operating on a 4 per cent, ftock, 
 would have paid in the fpace of a hundred years the fum of 
 12,370,000/. 
 
 But it is not the church alone that has been benefited by fuch con- 
 tributions. There is hardly a town in Great Britain of any confiderable 
 importance ; there is not a charitable foundation of any kind ; nay, 
 hardly a fmgle parifh in England, to which fome bequefts have not 
 been made, which, were they accumulated into one fum for any parti- 
 cular objedl, would be produdtive of aftonifhing effeds. The chari- 
 table donations for the benefit of the poor, in England and Wales 
 alone, exceed 250,000/. per annum. Even that fum operating upon a 
 ^ per cent, ftock, would have accumulated, in the fpace of a century, to 
 the fum of 309,250,000/. ; and confequently our debts, heavy as they 
 are, might have been adlually difcharged before this time, by voluntary 
 contributions, had fuch a fyftem been properly underftood and encouraged 
 at the Revolution. 
 
 Nay the particular idea above hinted at, has not been neglecfted. 
 Anno 1733, Richard Norton, Efquire, of Southwick, in the neigh- 
 bourhood of Portfmouth, left his property and eftates to parliament to 
 pay the public debts ''. Sir Jofeph Jekyl, mafter of the rolls in the 
 reign of George II. who died anno 1738, bequeathed effedls to the 
 
 y See Eflon's Liber Valorum, third edition, printed anno 1728. 
 
 * Paterfoii's Defcription of the Roads of Great Britain, p. 17. Road from London to 
 Portfmouth. It is faid, that the will was fet afide. 
 
 amount
 
 OF THE BRITISH EMPIRE. 
 
 amount of about 26,000/. to the finking fund\ But parliament was 
 afterwards prevailed upon to reverfe the will of that public-fpirlted 
 citizen : yet that very fum would have bought, in the fpace of forty- 
 five years, which have fince elapfed, the fum of 103,000/. oi /if per 
 cent, (lock ; and at the conclufion of a century Sir Jofeph Jekyl would 
 have been recorded as a benefadtor to the public to the amount of 
 1,255,000/. Such a fpirit, had it been encouraged, would have foon 
 fpread. The author of this work having diftributed among his 
 friends a fmall traft, recommending fuch an idea, was happy to find 
 that it met with the warmeft approbation ; and fome by whom it was 
 perufed, exprelTed the ftrongeft anxiety that the necellary laws for that 
 purpofe might be enadled without delay, that they might have an op- 
 portunity of proving how fincerely defirous they were of promoting 
 the interefts, by voluntarily contiibuting to diminifh the heavy burdens 
 to which their fellow-citizens were fubjedt. 
 
 As a ftrong and ufeful incitement to fuch public benefactions, it 
 might be enacted, that every fum thys given fhould be accumulated at 
 compound intereft in the name of the donor ; and the politic regula- 
 tion that was devifed in regard to the augmentation of the fmaller 
 livings of the clergy, ought to be adopted, by which a fum equal to 
 the money bellowed was taken from the general fund, and appro- 
 priated to the fame purpofe. The confequences of fuch a regulation 
 may be eafily fuppofed from this, that there is hardly a citizen in this 
 country who by great induftry and minute attention might not accu- 
 mulate 1000/. in the fpace of a few years. If that fum were laid out 
 in 4 per cent, ftock, in the courfe of a century it would purchafe 
 
 » The hiftory of Sir Jofeph Jekyl's legacy was as follows : By his will, dated the 4th 
 of May 1738, he left io,oooi. Eaft India ftock, and 10,000/. South fea ftoclc, to be ap- 
 plied, after the death of Elizabeth his wife, to the ufe of the finking fund, in fuch manner 
 as fiiould bedireded byacS of parliament. His widow died a««a 1745 ; and the Eaft India 
 fiock was fold cnno 1747 for 15,872/. 14^. ; and as the South fea ftock was then about 
 par, the whole legacy amounted to about 26,000/. By 20 Geo. IH. cap. 34. 13,582/. 
 i^s. id. in money was given from the finking fund to the refiduary legatees. By an act 
 pafled anno 1772 (12 Geo. III. cap. 53.) the fum of 2,290/. 4/. \od. of this legacy was 
 direded to be paid into the exchequer, to be applied to the finking fund. This was the only 
 advantage reaped by the public from this patriotic citizen ; for by 14 Geo. III. cap. S9. 
 the balance of his legacy was given to his heirs in New England. 
 
 Part III. E e 250,000/.
 
 aio HISTORY OF THE PUBLIC REVENUE 
 
 250,000/. of ftock; and if an equal fum were taken from the finking 
 fund, at the end of a hundred years he would appear a benefaiSlor to 
 the ftate to the amount of half a million ; at the conclufion of which 
 period a ftatue fliould be eredled to his memory in Weftminfter-abbey, 
 or fome other confpicuous edifice, as a mark of the pubUc gratitude. 
 Thus might a private individual acquire immortal honour by means 
 perfedly practicable and eafy. The fitflltious will of Fortune Ricard, 
 who on fo flender a foundation as 500 livre?, or 22/. 4^-. 6^. flerling, 
 bequeathed fums of money for purpofes which would neceflarily oc- 
 cafion the moll important political confequences, is well known. In 
 particular it was propofed (and if a will to that effet£t were duly exe- 
 cuted, the fum was fufficient for the purpofe), befides many other great 
 undertakings, to pay off in lefs than five centuries the immenfe in- 
 cumbrances with which Gi-feat Britain and France are now loaded ^ 
 If fuch efiecls can be produced from fo paltry a fum, what may not 
 be expciHed in an opulent country like England, where many indi- 
 viduals, in confequence of their commercial induftry, or by means of 
 their fuccefsful exertions in our fettlements abroad, acquire great 
 wealth without having any near relation on whom their fortunes can 
 be bellowed " ? In fuch a cafe, how abfurd is it, not to put it in their 
 power to leave their property to the public ? And though many will 
 affed to commiferate the fituation of their diftant connedions, who 
 may be thus deprived of property to which they might have fome legal 
 pretenfion ; yet who can put the intereft of a few obfcure and un- 
 known individuals in competition with that of the public ? Indeed, 
 Tinlefs people are either born to the enjoyment of great poflefTions, 
 or have been accuftomed to live in luxury and fplendour, what are 
 they the better for riches ? To want pleafures to which one has been 
 
 '' The will was written by M. Mathon of Lyons, under the feigned name of Ricard. 
 A tranflation of the work is annexed to Dr. Price's Obfervations on the Importance of the 
 American R.evo!ution, printed anno 1785. 
 
 ' Many fortunes, as they are called, have been alfo made in this country by lefs ho- 
 nourable means; by gambling in the funds; by peculation and plunder in India; and by 
 defrauding the public at home ; and occafionally fums have been fent to the chancellor of 
 the exchequer, for confcience fake, by perfons who vainly thought that refunding fome part 
 of their ill-gotten gains would appeafea guilty confcience. 
 
 accuftomed,
 
 OF THE BRITISH EM-PIRE. 21,: 
 
 accuftomed, may be diftrefling : but to live without enjoyments which 
 were never tafted, cannot juftly be accounted a hardship ". 
 
 It is a duty incumbent upon every political fociety to provide for -• Pfoper 
 fuch unhappy individuals belonging to it, as from the poverty of their of'th^p'oor! 
 fituation, from ficknefs, want of employment, and the various una- 
 voidable misfortunes to which human nature Is liable, are unable to 
 maintain themfelyes ; and in no country have thele generous prin- 
 ciples been carried to fuch an extent as in England, every native of it 
 being entitled to demand fullenance in the parilh in which he was born, 
 or in which he has acquired a fettlement. 
 
 But for many years paft the loudeft complaints have been, with too 
 much juftice, made of the manner in which the fums levied for fuch 
 important purpofes have been expended. It is too generally and 
 juftly fuppofed, that a confiderable portion of it is wafted in law-fuits 
 regarding the fettlement of the poor, and in feafting the parochial 
 officers ; and that the fums adually laid out are far from being ju- 
 dicioufly expended ; the poor being either fuiFered to remain at home, 
 and to wafte the public bounty in luxurious gratifications, or being 
 fhut up in workhoufes, in a manner banifhed from fociety, and pre- 
 vented from the means of procuring necefl'ary air and exercife for the 
 prefer vation of their health and exiftence. Pity for fo many unhappy 
 creatures thus loft to the ftate, and zeal for the profperity of the public, 
 have induced the author to propofe a fyftem, that in his opinion would 
 be produdive of the happieft confequences. 
 
 ■' Thefe fentiments are ably fupported by the commiflioners of the public accounts, who 
 conclude their eleventh report in the following words : <' The fubjefls of this kingdom 
 are opulent, generous, and public fpirited : let the diftrelTes of their country be fairly laid 
 before them, and let that intereft they and their pofterity have in this conftitution be ap- 
 pealed to, and they will contribute cheerfully and liberally to her relief. Let public bene- 
 volence take the lead of private intereil ; example may produce much, and muft begin 
 fomewhere. An extraordinary and unprecedented conjunfture in the finances of a coun- 
 try, may require extraordinary and unprecedented efforts. Every man may dedicate a 
 portion of his income, or fome fhare of his affluence, according to his faculties, to this 
 great national objed : let the produce of fuch a general exertion be wifely dire£led and 
 faithfully applied ; and tJiis debt, enormous as it is, will begin to melt away : and every 
 man who contributes to fo great a work, will feel the confolation refulting from the dif- 
 'charge of the moft important of his duties, by having aflifted in relieving public diftrefs, 
 iieftoring public credit, and averting a national calamity." 
 
 E e 2 The
 
 211 HISTORY OF THE PUBLIC REVENUE 
 
 The poor's rates, Including charitable legacies and donations, produce 
 at prefent about 2,300,000/. 
 
 The fums raifed by turnpikes in the different roads of the king- 
 dom, will at lead amount to five hundred thoufand pounds a-year ; 
 and it is -a fource of revenue capable of very, great increafe, by ex- 
 tending it to new diftriets, and by a gradual augmentation of the rates 
 that are now exacted % 
 
 Tobacco, madder, and India corn, might eafily be raifed in this 
 country to confiderable advantage. Indeed by fupplying our own 
 confumption, and perhaps that of our neighbours in Europe, thefe 
 articles might be cultivated to the value of at leaft 500,000/. per 
 annum ; confequently there are pecuniary refources in thefe branches 
 to the amount of 3,300,000/. or, for the fake of round numbers, to the 
 extent of three millions. 
 
 There are belonging to the crown of England a number of chafes, 
 forefts, and wafte lands, at prefent of hardly any value, though na- 
 turally as fertile as any other part of the ifland, and to the full as capable 
 of cultivation. 
 
 The plan then is fhortly this : That commlffioners be appointed for 
 the better management of the poor ; That the fame fum that is now 
 levied as poor's rates be raifed for the future, in each diftridt, without 
 addition or abatement, and put under thefe commiffioners*^ : That all 
 the roads in the kingdom, whether turnpike or otherwife, be placed 
 under their management: That all the king's forefts, "i^c. unlefs ne- 
 cellary for the royal diverfion, or for rearing timber for the navy, be 
 cultivated as they may diredl : And inftead of the prefent wretched 
 fyftem, let the poor be employed in inaking and repairing roads, and 
 in the ufeful and invigorating labours of the field. To prove the im- 
 menfe confequences of fuch a plan, it is fufficient to remark. That 
 there are many millions of acres of wafte and common land in the 
 
 ' No accurate account of the income of the different turnpikes can be obtained. Annas 
 1772 and 1773 committees were appointed to inquire into the fubjedt (fee Commons Jour- 
 nals, vol. xxxiii. p. 416; and vol. xxxiv. p. 155.); b"* "^o report feems to have been 
 made. 
 
 f Where no poor's rates are at prefent levied, a pound rate of the average amount all 
 over England Ihould be impofed, to prevent inequality. 
 
 kingdom :
 
 OF THE BRITISH EMPIRE. aij 
 
 kingdom : That the greater part of that quantity is capable of pro- 
 ducing in grofs value from twenty to forty (hillings an acre per annum ; 
 and fiich of thefe lands as are fit for raiiing madder, tobacco, India 
 corn, and other ufeful commodities, would produce to the amount of 
 at leaft five pounds a-year. Under the fyftem that is here propofed, 
 they might all be brought into cultivation in a very fhort fpace of time; 
 and thus, by the labour of the poor, an unbounded treafure might be 
 added to the national income. 
 
 It is impoffible to mention the article of tobacco, without remarking 
 the abfurdity of continuing the feveral reftridions upon the cultiva- 
 tion of that article in this country, that exifted when America formed 
 a part of the empire of Great Britain. However politic it might be 
 to encourage the induftry of thofe colonies in former times, when we 
 were the fame people, yet now they feem to be little entitled to any 
 favour or indulgence ; and the importation of any article from that 
 country, with which we can fupply ourfelves with eafe, ought not to 
 be permitted. 
 
 It is a circumftance peculiarly favourable to the fuccefs of fuch a 
 meafure, that many of the royal forefts, Sherwood and Epping forefts 
 in particular; and thofe in the county of Kent, and neighbourhood of 
 Portfmouth, are admirably calculated for the purpofes above men- 
 tioned ; and are pofTeffed of fuch natural advantages, in confequence 
 of the richnefs of their foil, and their vicinity to navigation, that any 
 plan for their improvement, judlcioufly executed, can hardly fail to be 
 fuccefsful. 
 
 Nor is it a trifling confideration, that fo many of our fellow-crea- 
 tures who are now excluded from fociety, and perifhing for want of 
 exercife and air, Ihould thus be ufefully employed in lefs injurious la- 
 bours; and that inftead of unhealthy objects, who pine away a mi- ^ 
 ferable exiftence, fhut up from any commerce with mankind, under 
 tyrannical tafk-mafters, we fliould be poflelTcd of a healthy and in- 
 duftrious race, who might add confiderably to the ftrength and opu- 
 lence of the nation, and whofe pofterity might be brought up to 
 cultivate our fields, to fill up our armies, and to man our fleets : a 
 hardy breed might be expedted when every individual worked in the 
 open air, and who was never compelled to labour beyond his ability. To 
 
 keep
 
 214 HISTORY OF THE PUBLIC REVENUE 
 
 keep even roads in repair that are once properly formed, requires little 
 exertion, more particularly if any defeat or failure is corre£led the 
 inftant that it appeared ^ And with regard to tohacco, the principal 
 difficulty attending its cultivation is, to deftroy a fpecies of worm with 
 which it is peculiarly infefted, and which can be done even by women 
 and children. 
 
 It is unnecefl'ary to enter into the various minute regulations that 
 fuch a plan would require, becaufe a fyftem of fo extenfive and im- 
 portant a nature muft be gradually eftablifhed. The firft ftep to be 
 taken ought to be, to inftitute an inquiry into the fums levied for the 
 maintenance of the poor, and the manner in which they are expended''. 
 Syftems ought then to be formed for their better regulation ; and when 
 commiffioners were appointed, the poor might be gradually fpread 
 over the whole country, for the purpofes that have been mentioned'. 
 The plan from the beginning could not be attended with any material 
 charges to the nation, and would put an end to that litigation in regard 
 to the fettlements of the poor, and to that extravagant expence which 
 fvvallows up fo confiderable a part of the money that is levied ; and in 
 procefs of time perhaps two-thirds of the three millions above men- 
 tioned might be dedicated to public purpofes. Hence, the proper em- 
 ployment of the poor is a refource which cannot be juilly calculated 
 at a lefs fum than two millions per annum. 
 
 It is only neceflary farther to remark upon this branch of the fub- 
 
 je£l, that no apprehenfions ought to be entertained, as if the public 
 
 were incapable of conducing fuch a plan to advantage. Though the 
 
 fyftem above mentioned is of a complicated nature, would require able 
 
 officers, and a confiderable degree of attention ; yet it would not be 
 
 * Machines might eafily be contrived for breaking ftones, where roads are repaired with 
 that article, that would not require much ftrength in the labourers. 
 
 '■ This has been done under the aufpices of the worthy and public-fpirited reprefentative 
 for Litchfield (Thomas Gilbert, Efq.). 
 
 ' For inftance, every fix miles a turnpike might be eredted ; a Chelfea penfioner might 
 be appointed to colle£l the tolls, and to overfee the repairing of the roads for three miles on 
 each fide of the turnpike ; and from ten to twenty poor people, ss occafion might require, 
 fhould be employed under his direction in keeping the road in repair : a fmall houfe fhould 
 be built for their reception adjoining to the turnpike, and a certain quantity of ground con- 
 tiguous to it, fhould be hired, or purchafed for their ufe, by the cultivation of which they 
 might in a great meafure be maintained, 
 
 more
 
 OF THE BRITISH EMPIRE. 215 
 
 more myfterious, or more difficult to execute and to keep in due regu- 
 lation, than the great departments of the poft-ofiice, the cuftomi;, or 
 the excife ; than the immenfe concerns of the Eaft India company, or 
 the various branches which conftitute the maritime force of this coun- 
 try. In fact, in fuch great operations the only difficuky is, to adjuft the 
 machine, and to fet it a-going : its movements afterwards may be go- 
 verned with little dexterity or addrefs. 
 
 In every other country in Europe, the prerogative of coining money 3. Coinage, 
 is attended with fome emolument to the fovereign ; but in Britain the 
 public is at the fole expence of the manufadture, and receives no reim- 
 burfcment for the charges it is put to. 
 
 The propriety of fuch a fyftem may be queftioned. 
 
 In every coin a certain quantity of alloy is neceflary, and the greater 
 the proportion of pure metal, the more it is expofed to be diininifl-ied 
 by clipping, fvveating, and other fraudulent practices ; and indeed the 
 more apt it is to be worn away by mere ufe. It is imagined that a 
 greater quantity of alloy than is ufually put into our Britifh coins, 
 might be of fervice, would hardly diminilh their value, and at the fame 
 time would defray the expences of coinage. 
 
 When coins are kept of nearly the fame finenefs with pure metal, if 
 bullion happens to be fcarce, individuals are ftrongly tempted to melt 
 them down for any purpofe they may have in view : this may be done 
 v^'ithout any real lofs, and the coin is foon replaced again at the ex- 
 pence of the public. Thus confiderable charges are wantonly in- 
 curred : but when, in confequence of the ftamp and authority of the 
 fovereign, a coin paffes in any particular country for perhaps a little 
 more than its real value, it is much lefs liable to be exported : at leaft 
 it v-ould be more profitable for the merchant to fend out commodities 
 than fpecie, unlefs commodities alfo were lefs valuable at home than in 
 foreign ftates^ 
 
 ■^ M. Necker has treated this fubjeft with his ufual ability, but perhaps is miftaken in his 
 afTertion, that a quantity of alloy in coins is no obftade to their exportation. If a louis d'or, 
 for inftance, pafles for twenty fhillings flerling in France, and only eighteen in England, 
 by remitting fpecie, the French merchant lofes two Ihillings in the pound, and it en- 
 courages him to export commodities by which he may be a gainer: whereas the Englifh 
 merchant, for a very oppofite reafon, fends fpecie when he finds any difficulty in making 
 lemittances by other means. 
 
 I Any
 
 .coinage. 
 
 :i6 HISTORY OF THE PUBLIC REVENUE 
 
 Any great alteration in the value of national money, is a circum- 
 ftance of great delicacy and danger : at the fame time the obfcrvations 
 above mentioned, if they are well founded, would tend to the efta- 
 blifhment of a fyftem that would render the coinage of money, if not 
 a fource of revenue, at leaft no longer a burden upon the public. 
 4. Paper The advantages of paper circulation are hardly to be eftimated. In 
 
 every country where commerce flourifhc?, it is neceffary to have a 
 confiderable quantity of feme common medium of traffic. If paper 
 does not exift, gold and filver muft be made ufe of; and if thofe va- 
 luable metals are not the natural produdions of the country, commo- 
 dities muft be exported in order to procure them from the places where 
 they are to be found. Thus if the paper circulation of Great Britain 
 is equal to thirty millions, had it not exifted, we muft have exported 
 goods to have brought in fpeoie to that amount, and confequently we 
 muft have been thirty millions poorer than we are at prefent. It is 
 true that we fliould have had the gold and filver ; but even that would 
 have been perpetually diminifiiing by ufe ; and thirty millions of 
 paper, without any poffible lofs, by wearing or otherwife, and with 
 great convenience as to fafe tranfportation, ilfc. anfwers exadly the 
 fame commercial ufes, and faves the annual intereft that would have 
 been loft, which at five per cent, amounts to one million and a half. 
 
 The circulation of paper has been already carried to a confiderable 
 height in this country, by means of exchequer bills, bank and bankers 
 notes, life. : but fuch at the fame time is the magnitude of our com- 
 mercial tranfacSions, and the immenfity of our debts and taxes, that a 
 ftill greater quantity of current fpecie is required ; and an addition 
 either of coin or of paper, would be of real fervice to the commu- 
 nity. If in paper, the addition ought to be ilTued neither by private 
 nor public banking companies, but by the ftate. As at leaft fifteen 
 millions miift now be annually paid for the intereft of the national 
 debt, and for other national expences, if two-thirds of that fura 
 were iffued in notes of from one to five pounds each, were to be re- 
 ceived in payment of taxes, and after being iffued one year were to 
 bear an intereft of {\vt per cent, it would be productive of the happieft 
 cffeds, not only by accommodating individuals, and promoting an 
 cafy circulation j but alfo by adding, at the rate of five per cent, an 
 
 intereft
 
 OF THE BRITISH EMPIRE. 217 
 
 Intereft of half a miUion to the .public refources. Notes alfo might be 
 contrived of a new conftrud:ion, with ftamps varioufly coloured, and 
 paper might be manufadured in. a manner different, and greatly fu- 
 perior in point of quality to what is ufual at prefent, fo as to prevent 
 almofl the polTibllJty of forgery'. And if the public were to gua- 
 rantee to the bank, during the continuance of its charter, the dividend 
 which it now receives, namely, 7 per cent, it could fuftain no lofs, and 
 that opulent body might be prevailed upon to countenance the plan, 
 and to give it every pofhble afiiflance". 
 
 Various fchem»es have been publiflied for extrading money from the ?• Lotteries, 
 pockets of the people by means of lotteries. At prefent the ufual 
 ftate lottery of the year produces a profit of from 150,000/. to about 
 270,000/. per aiimim. But it is believed that in fo gambling and 
 luxurious an age, and in a country accuftomed to all the rifl?;s of mer- 
 cantile fpeculation, lotteries are a refource of which the public might 
 avail itfelf to a much greater extent, and by which an income of per- 
 haps a million ^^r aiinum might be acquired. 
 
 Thofe taxes, it has been well obferved, are always the leafl ob- 
 noxious, where fomething is got, or maj poffibly be obtained, by the 
 individual who pays them. The duty on letters is hardly ever com- 
 plained of, becaufe no perfon is liable to the tax without receiving 
 fomething in return: and, on the fame principle, it is apprehended, 
 that if a guinea lottery were eftablifhed, and every houfeholder for 
 every five windows which his houfe contained, and every landholder 
 for every ten pounds he paid in land-tax, were obliged to take one 
 ticket, a profit of one million would accrue to the ftate, after paying 
 the neceffary prizes. Perhaps there is no mode by which that fum 
 ■could be raifed with lefs murmur and objedion. The ufual complaints 
 ^gainft lotteries would be urged by the timid and the prejudiced ; but 
 
 • The inner part of the note might be of a thiclc, the outer of a thinner texture: the 
 thicker part might anfwer for writing the names of thofe who circulated the note, fhould 
 there be any fufpicion of forgery. 
 
 ■" Thus the reader will perceive that the public can at any time raife half a million per 
 annum, without taxes, merely by agreeing to circulate what migiit be calledyto^ notes, by 
 which means, in the fpace of only eighty years, 275,500,000/. of ifper cent, flock might 
 be paid ofF. 
 
 Part III. F f there
 
 ai3 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 6. Granting 
 life annui- 
 ties. 
 
 7. Convert- 
 ing tempo- 
 rary annui- 
 ties into per. 
 petual (lock. 
 
 there is no plan equally produdive, againft which as many plaufible 
 obje<Stions might not be adduced". 
 
 In time of war, when a ftate is immerfed in difficulties, every idea 
 of obtaining money to advantage upon contingent annuities, is abfurd : 
 but, during peace, the fame rule does not hold good. Were the public 
 therefore to eftablifli regulations fimllar to thofe by which private fo- 
 eieties are enriched, confidering that it may adl on a much greater 
 fcale, the granting of fuch annuities might prove a very important re- 
 fource, more particularly in a luxurious age like the prefent, when 
 every individual afpires to rival his neighbour in expence, and would 
 grafp at fo defirable and certain a mode of increafmg his income. But 
 care fliould be taken to grant annuities only on the life of the perfon 
 by v/hom the money is paid ; nor fhould the creditor be fufFered to 
 fearch every where for the beft lives, or for people who, from the 
 ftrength of their conftitutions, or other circumftances in their favour, 
 are likely to live beyond the ufual fliort fpace of human exiftence". 
 
 The South Sea plan was greatly celebrated for having gained to the 
 public an additional income of 133,541/. by converting a number of 
 long and Ihort annuities into perpetual ftock:. and confidering the 
 many temporary annuities that exift at this time, the long annuities 
 amounting to no lefs a fum than 680,375/. and the lliort annuities to 
 A.'KliSOol. per anniini^ it is apprehended that by the fame means even-a^ 
 greater addition to the revenue might be obtained ". Perpetual always 
 fell at a better price than temporary annuities ; and if it were poffible 
 to tie down a fmking fund to the payment of the public debts, without 
 the probability of alienation, 200,000/. per annum might now be- 
 acquired by fuch a converfion ; and the progrefs of the fmking fund,, 
 by fuch a meafure, might be not a little accelerated. 
 
 " The itnportance of this refource, which by proper means might be confidered as almoft 
 a voluntary contribution, will appear from this, that in the fhort fpace of fixty years a 
 million per annum would pay ofF 237 millions of /^per cent, ftock. 
 
 I was fortunate enough to purchafe at Peterfburg the defcription of a new fpecies of 
 tontine, equally advantageous to the public and to the contributors; calculated byM.. 
 Fufs, under the diredtion of the celebrated Euler, from which many ufeful hints might be 
 drawn in regard to fuch eftabli/hments. 
 
 t Thefaving of 133,541 /. was gained by converting only 632,698/. of long and fliort: 
 annuities into perpetual ftock, 
 
 In
 
 OF THE BRITISH EMPIRE.- 219 
 
 In fome departments of the ftate, particularly thofe belonging to the ^- Sale of 
 law, and even in the navy and other boards, the fubordinate offices 
 are fold, to increafe the emoluments of thofe who are at the head of 
 the department ; and no complaint has ever been heard, as if fuch in- 
 dividuals were at all unfit for the offices they had bought, or were in 
 any refpedl lefs capable than thofe who were appointed in a different 
 manner. In the military department alfo, all the inferior commiffions 
 are publicly and avowedly put up to fale, under certain limitations ; and 
 no one can affign any public inconvenience or lofs from fuch a fyflem 
 having been adopted. 
 
 Thefe circumftances, joined to the avidity with which an Income 
 from the public is fought after by all ranks and defcriptions of people, 
 render it worthy of fome confideration whether the public in times of 
 difficulty and diftrefs might not reap a confiderable advantage by fuch 
 a fyftem. In France the very offices of judicature are fold, and yet it 
 is univerfally acknowledged that public juftlce, at leaft in civil queftions, 
 is as fairly and impartially adminiftered in that country as in any other. 
 Without extending the plan to fuch a length, if only the inferior 
 offices in the different departments were fold, inftead of being gra- 
 tuitoufly beftowed upon the friends of thofe who are in power, there is 
 every reafon to believe that fome millions might be raifed for difcharging 
 the incumbrances of the nation. The income of fuch offices amounts 
 to at leaft 1,800,000/. a-year, which at only five years purchafe would 
 produce nine millions. 
 
 Independently of the royal forefts, the proper difpofal of which 9. Sale of 
 Tias been already ftated, there are many lands, rights, and privileges {a^d""*" 
 ^belonging to the crown, which are in their own nature more trouble- 
 fome than lucrative ; and in fome cafes are let on profitable leafes to 
 perfons of weight and influence in the country, or perhaps totally 
 granted away during the life of fome particular favourite. 
 
 Since the dignity of the fovereign is maintained by a fum voted by 
 parliament, at the acceffion of every monarch to the throne, it is 
 abfurd to retain any veftige of the ancient feudal fyftem. The little * 
 
 that now remains ought to be fold for the benefit of the public, as 
 ^e only means by which any folid advantage can be reaped from 
 
 Ff 2 it.
 
 aao HISTORY OF THE PUBLIC REVENUE 
 
 it'. Whilft it continues in its prefent ftate, it muft ever prove unpro- 
 dudive and inefficient : if brought to market, much of that property (tha 
 crown rents in particular) might be difpofed of at thirty, if. not forty^. 
 years purchafe. 
 
 There are other lands aifo dedicated to public purpofes, namely, 
 the property of the church, whether belonging to deans or chapters^, 
 or the colleges in the two unlvcrfitics, together with the eftates of thef 
 different corporations in England, which, if land fold at any tolerable 
 rate, might not only yield a fum of money equivalent to their prefent 
 income, but might furnifh a confiderable furphis to affift the public 'n\ 
 difcharging its incumbrances. It has- been frequently remarked, that 
 fuch property, whilft it remains under the government of truftees, is 
 feldom improved in an equal degree with the eftates of individuals. 
 Hence a ftrong additional inducement arifes, to biing all property c£ 
 that defcription into other hand?.- 
 10;^ Stocks When the Eaft India company, a?ifJo 1783, gave in an^ account of 
 
 p'Jope'rty un- their fituation and eircumftances to parliament, they ftated that they 
 demanded, -were indebted to fundiy perfons for dividends and intereft due, but not 
 yet demanded, on their ftock, annuities, and bonds, the fum of 
 149,901/. and it is probable that the fum of undemanded intereft in 
 the other funds, is proportionably confrderablc'. 
 
 Various eircumftances contribute to accumulate, in the difFerent 
 funds, a confiderable fiim of undemanded property. Some, amongft 
 thofe who place their property in the ftocks, areanxious to have their 
 wealth concealed, and the fecret not unfrcquently dies with them. 
 Many of the public creditors either refiding abroad, or being the na- 
 tives of other countries, leave behind them no evidence of the pro- " 
 perty they poffefs : and there are others, wha, raifed by their own 
 induftry to the pofFeffion of confiderable wealth, either die inteftate, or 
 have no relations whom they care to acknowledge, or who can claim 
 
 ^ It has been propofed to fell the crown and wafte lands by way oi lottery; and fuch a 
 plan perhaps might not be unadvifable. 
 
 ' By 13 Geo. I. chap. iii. (fee alfo Commons Journals, vol. xx; p. 799; and vol. xxr. 
 p. 665.") the fum of 10,725/. 5 X. 3|</. then remaining in the exchequer, on the head of 
 the banker's debt, and never claimed, was appropriated to the linking fund, incafenofuf* 
 licient claim fhould afterwards be made to the whole, or to any part thereof. 
 
 a. legi-
 
 OF THE BRITISH EMPIRE. 221 
 
 a legitimate connexion with them. Confidering thefe circumflances, 
 joined to the immenfe amount of the prefent national debt, it is not 
 to be wondered at, that in the fpace of almoft a century the unde- 
 jnanded dividends and intereft fliould accumulate to a very confider- 
 able i'um. 
 
 But the intereft Is not the only objecSt that ought to be kept in 
 view: the principal fums to which that intereft relates, are much more 
 material, and might be- appropriated to the fame purpofes. If any 
 individual can prove that he is entitled to any ftock, though his claim 
 has lain dormant for fome time, it ought not to be profcrlbed : but, 
 fubjeft to that reftridtion, all property ia the fund?, whether intereft 
 or principal, that has not, been claimed for thirty years, ought to be 
 dedicated for the purpofe of difcharging the incumbrances of the 
 nation; 
 
 Nor are there wanting other refources of a fimllar nature. Of the 
 property now ftanding in the name of the accountant general, be- 
 longing to the fuitors in chancery, a confiderable part will never be 
 demanded ; and the intereft thereofj inftead of being expended in un- 
 neceffary buildings (fuch as thofe lately erefled in Chancery-lane'), 
 might be much better employed for the purpofes above mentioned. 
 By placing alfo under the diredlon of fuch commiftioners all pro- 
 perty, whether landed or perfonal, that accrues to the crown by crimes,,. 
 by forfeiture, or by death, confiderable fums might be obtained, which: 
 the fovereign can hardly exad: for his own emolument, but of which 
 the public might avail itfelf. 
 
 The capital of the bank of England, at prefent, amounts to u. The 
 11,642,400/. which at three per cent, the intereft the public pays, ^''"'^" 
 yields only 350,604/. But the fum which the proprietors annually 
 divide among themfelves is 814,968/. confequently the gain arifing 
 from their traflic is 464,364/. />fr annum. It is fuppofed that the 
 profits of the company muft be much more confiderable : as the charter 
 
 ' By 14 Geo. III. cap. 13. and 20 Geo. III. cap. 33. the fum of 13,000/. in all was 
 appropriated for buildii)g the offices of the regifter and accountant general ; touether with 
 an indefinite fum, arifing from the intereft of 50,000/. of fuitors money for rebuilding the 
 fixclerks office. I hofe buildings being now completed, no good reafon can be alTigned 
 why the public flaould not derive fome benefit from the fame refource. 
 
 of
 
 Indies. 
 
 221 HISTORY OF THE PUBLIC REVENUE 
 
 of the bank, however, has been lately prolonged fo the year 1812, the 
 public is not immediately interefted in making fuch an inveftigation : 
 but when a new charter is granted, it is to be hoped that fo im- 
 portant a refource will not be thrown away for any trifling confidera- 
 tion. By fecuring only one half of the profits of the company, the 
 public might add above two hundred thoufand pounds to its annual 
 income. 
 12. TheEaft But of all the refources which this country may boaft of, none can 
 equal its pofleflions in the Eaft, for pecuniary advantages ; and thence 
 alone a treafure might be drawn, fufficient of itfelf to difcharge the 
 incumbrances of the nation. For that purpofe it might be proper to 
 guarantee to the proprietors of India flock, what they would confider 
 to be a fufficient value for their property, namely, eight per cent, upon 
 their capital, or two hundred and fifty-fix thoufand pounds per an^ 
 nniri^ \ and to dedicate to public purpofes all the profits of the com- 
 merce, and of the territorial pofl'efTions, unlefs it were thought more 
 advifable, retaining the trade to China, to throw open the reft of that 
 commerce to the nation in general. 
 
 The importance of this refource will appear from a ftatement of the 
 trade that is carried on to the Eaft, and the immediate revenue that is 
 <enjoyed by the company. 
 
 The exports to India laft year amounted to about 1,900,000/. 
 
 The value of the imports may be judged of from the two laft fales, 
 which amounted to more than five millions ; and above another mil- 
 lion may be calculated to have been brought into the country in gold, 
 in filver, and in diamonds ; and in effeds, the property of private ad- 
 venturers, either brought to Europe in Britifh veflels, or remitted to 
 Britifh fubjeds through the medium of foreign companies. But 
 great as the commerce is at prefent, it will probably be doubled when 
 the trade with China is relieved from its prefent reftridtions and em- 
 
 ' This arrangement would be not a little advantageous'^to the proprietors of India {lock; 
 for at prefent it fells only at the rate of 169 per cent, whereas if the company were gua- 
 ranteed a dividend of 8 per cent, the price would probably equal two 4 per cents. The 
 4 per cents, now fell for 96, confequently at the fame rate an 8 per cent, ftock would fetch 
 J 92. The difference between that Aim and the prefent price, being z^ patent, would be 
 ihe profit which the proprietors would gain by the tranfadion, 
 
 barraifments;
 
 OF THE BRITISH EMPIRE. 22j 
 
 barraflments ; and when new channels of traffic are opened with Japan, 
 and other opulent countries in Afia". 
 
 The Income of the company's territorial pofleffions in the Eaft, is as 
 follows : 
 
 Sterling. 
 
 Revenues of Bengal, Bahar, and Orixa - £ 1,838,000 
 
 The fubfidy of Oude, and tribute of Benares 962,000 
 
 The revenue arifmg from fait in Bengal - 450,000 
 
 The cuftoms in India - _ ^ 236,367 
 
 The fubfidy of the Rajah of Tanjore - - 160,000 
 
 The fubfidy of the Nabob of Arcot - - 200,000 
 The northern circars, and territories on the coall of 
 
 Coromandel _ _ _ _ 350,000 
 The remainder of the company's landed property 
 
 ia India - » - .. 881,000 
 
 T^oiz\ per anmim jC 5>'^77}3^7 
 
 With fuch means to work upon, how is it poffible to doubt, that by 
 any tolerable management, at leaft from one to two millions might 
 be annually brought into the public exchequer ? 
 
 But it will be faid, how can the Eaft furnifli fuch refources to the 
 public, and at the fame time prove fo unproductive and inefficient to 
 its prefent poffeflbrs ? This it is believed may be accounted for. 
 
 It can hardly be expeded that a company of merchants, occupied 
 with their own affairs," and immerfed in their own private bufinefs, 
 Ihould be able to govern an extenfive and powerful empire, at fuch a 
 
 • Government, with fome difficulty, was perfuaded to fend an ambaflador to China, 
 for the purpofe of opening a more advantageous intercourfe with that empire. The late 
 Colonel Cathcart was pitched upon, and feiit unaccompanied by any colleague, though it 
 was well known that his ftate of health was fuch as to furnifh very fmall hopes indeed, that: 
 he could ever reach the place of his deftination. This very gallant and intelligent young 
 man died in his way, as had been forefeen ; and the frigate in which he went returned re 
 infeSla. Thus the expences of the embafly were entirely loftj and, as if one attempt of 
 the kind were fufEcienr, no fteps have been taken, fince the intelligence of Colonel Cath- 
 can's death, for renevang the embafTy. 
 
 1 2 ■ diftance
 
 824 HISTORY OF THE PUBLIC REVENUE 
 
 c^lftance from tlie place where they refide. Indeed the only pofTihle 
 means of having fuch remote concerns properly managed, is to place 
 them under the dire£Hon of a few individuals, whole whole time 
 fhould be dedicated to that fmgle objedl:, and confequently who may 
 be fuppofed better able to regulate them to advantage ; the condudl of 
 fuch individuals being always open to public infpedion, and fubjed to 
 every necefiary control. 
 
 Befides, the officers of a mercantile company muft ever retain the 
 commercial prejudices and fpirit of their employers. Immediate gain, 
 though acquired by tyranny and oppreffion, will ever be preferred to 
 diftant profits, the advantages of which are gradual and remote. A 
 contrary fyftem, it is probable, would be adopted by the public and its 
 fervants^ and hence, in procefs of time, its gains would be more con- 
 fiderable. 
 
 It is hardly pofTible for a company of merchants to retain thofe 
 whom they employ in the fame difcipline and good order that the 
 public nught eafily do> The leaft inftance of feverity in fuch a com- 
 pany would be confidered, particularly in a free country like England, 
 as a capital off'ence ; and hence, their fervants being flattered with the 
 hope of impunity, is it to be wondered at, that they fhould give oc- 
 cafion for the numerous complaints v.hich haA'e been made of their 
 tyranny and oppreffion ? 
 
 The idea of a mercantile company poffeffing a diftant empire, in- 
 habited by many millions of people, is fo new an event in the hiftory 
 ^ of mankind, that their lubjedts muft be prejudiced againft fuch rulers ; 
 
 and the neighbouring powers muft view them with jealoufy and con- 
 tempt : treaties muft be entered into under every poffible difadvantage, 
 and confidered rather as temporary fufpenfions of hoftility, than as the 
 hafis of folid peace. 
 
 The expence of holding thofe pofleffiions muft ultimately be de- 
 frayed by the public. Unproteded by the fleets and armies of Great 
 Britain, and unguarded by the terror of her name, they would foon 
 fall a prey either to fome European power, or to fome eaftern po- 
 tentate : and as that will ever be the cafe, why fhould not the nation 
 reap the advantage, fmce it muft be loaded with the expence i* 
 
 The
 
 OF THE BRITISH EMPIRE. ,2^ 
 
 The debts with which the Eaft India company are at prefent in- 
 cumbered, tie up its refources, prevent it from enjoying its revenues 
 in the manner it might otherwife do, and keep it in perpetual poverty 
 and diftrefs. But if the public were to take its pofTeflions and its 
 debts together, its creditors would at once be fatisfied, and full time 
 would be given gradually to difcharge them. 
 
 The {hipping made ufe of in the commerce to the Eaft is another 
 material confideration. The company at prefent pay an enormous 
 freight for every veflel they fend out : whereas the public might make 
 ufe of its own fhips in time of peace, and even in time of war : its 
 veifels unfit for hoftile operations would anfwer the purpofcs of car- 
 rying merchandife. By building Indiamen alfo, calculated either for 
 commerce or war, a very important addition might be made to the 
 maritime ftrength of the empire. Indiamen might eafily be contrived 
 fo as to be converted, without difficulty, into fifty-gun fhips ; and 
 from 6,000 to 7,000 feamen are now employed by the company, 
 who, on great emergencies, might be altogether taken into the fervice 
 of the public. Our naval officers might thus be kept in perpetual 
 praftice, in peace as well as in war; which cannot be effeded by any 
 other means, except at an enormous expence''. 
 
 Another advantage that the nation would reap is this, that fmug- 
 gling would be entirely put an end to. It is propofed that the tea 
 trade fhould belong exclufively to the public, as that is a branch per- 
 fedly diftind, and more eafily conduded than any other ; and if the 
 exchequer reaped all the profits refulting from it, a great revenue 
 might be raifed, without giving the illegal trader any advantage. In 
 regard to the other branches of our Afiatic commerce, were that com- 
 merce thrown open, it might foon be doubled : new articles, both of 
 export and import, would be difcovered. But if, inftead of increaf- 
 ing, it were to continue on its prefent footing, private traders might 
 well afford the duties now paid by the company, and an additional 
 I o per cent, (by which government would be more than indemnified 
 
 ^ I have often wondered that government has never propofed to freight fhips to the 
 company, even on the prefent footing, merely for the fake of employing its officers and 
 its feamen. We might thus have a confiderable addition to our peace eftabiifhment, 
 without any increafe of cxpence. 
 
 Part III. G g for
 
 S26 HISTORY OF THE PUBLIC REVENUE 
 
 for the dividend at the rate of 8 per cent, which it guaranteed to the 
 proprietors) ; and no contraband trade would take place. Such are the 
 advantages that our merchants would enjoy in the fettlements we 
 pofTefs in the Eaft, and fuch is the iuperiority of this country in mat- 
 ters of navigation and commerce, when it fairly enters into competi- 
 tion with its rivals. 
 
 The only poffible objedion that can be urged againft fuch a mca- 
 fure is, that the conftitution might fufter by fuch an acceffion to the 
 power and influence of the crown. But furely the liberties of Great 
 Britain do not reft upon fo flender a foundation ; and if the propofed 
 alteration had the efFedl of diminifhing and paying oft' the national 
 debt, that circumflance alone would throw fuch an additional weight 
 into the fcale of national freedom and independence, as ought to put an 
 end to all fuch apprehenfions. 
 
 On the whole, it is hoped that a refource of fuch value and im- 
 portance will no longer be fuffered to remain under an adminiftration 
 of fo mixed and complicated a nature ; but, on the contrary, that by 
 eftablifhing a clear and perfpicuous fyftem, plain, fimple, and replete 
 with vigour, the Britifh government may yet prove the fource of hap- 
 pinefs and fecurity to many millions of our fellow-creatures in thofe 
 dillant regions ; whilft they, at the fame time, may contribute to re- 
 lieve this country from the many heavy burdens with which it is op- 
 prefled. 
 Condofion. I have thus ftated every idea which has either occurred to myfelf, 
 or, fo far as my knowledge reaches, has been fuggefted by others, that 
 has a tendency to prove the financial ftrength and refources of this 
 country": refources which, if we are governed by able ftatefinen, 
 
 '' One refource that has been omitted', may be here mentioned. By the laws of the 
 cuftoms, tobacco feized by the oiHcers of the revenue is burned, and fmuggied fpirits at 
 one time were alfo ordered to be ftaved. It is certain, that it is greatly in favour of the 
 fair tri:der, to prevent the maricet from being fupplied by any other means than by legal 
 importation : but inftead of totally deftroying any commodity, would it not be better to 
 export it for the confumption of foreign nations ? The farmers general of France would 
 purchafe the tobacco without any difficulty. In regard to fpirits, it will not be denied, 
 that about three years ago the court of Sweden offered to purchafe them in confiderable 
 quantities ; a propofal which the prefent minifter thought proper either to negledl or refufe, 
 though the laws for ftaving were in force at that very time. 
 
 may
 
 OF THE BRITISH EMPIRE. 227 
 
 may be accounted almoft inexhaullible ; and which, at any rate, In procefs 
 of time, and under management even barely tolerable, cannot fail to 
 furnifli an increafe of perhaps thirteen millions /^r annum to the prefent 
 national income. 
 
 How that fum arifes will appear from the following ftatemcnt : 
 
 GENERAL VIEW of the NATIONAL RESOURCES. 
 
 I. ECONOMICAL ARRANGEMENTS. 
 
 1. Savings In the peace eftablifhment 
 
 2. Savings by a lale of Gibraltar, and economy in 
 
 our Americaa colonies 
 
 3. Sequeftratioa or abolition of offices 
 
 4. DIminutioa in public bounties (perhaps) 
 
 5. Savings in the management of the public debt 
 
 6. Various favings in the public expenditure 
 
 2. IMPROVEMENTS in the exifting REVENUE. 
 
 per Annum. 
 
 1. Additional checks upon fmuggling - ^ 100,000 
 
 2. Confolidation of cuftom-houfe duties — N. B. This 
 
 plan might ftill add to the revenue at leaft 50,000 
 
 3. Confolidation of the duties upon malt and beer 300,000 
 
 4. Improvements in the houfe-tax - - 150,000 
 
 5. Attention to the revenue of fines and forfeitures 100,000 
 
 6. Commutation of the taxes on coal and fait. — '"-^ 
 
 7. Commutation of the tax on drugs ^ • 
 
 ^ 700,000 
 
 
 per Annum 4 
 
 ^ 
 
 2>Z7^^1A 
 
 
 300,000 
 
 
 200,000 
 
 
 100,000 
 
 
 50,000 
 
 - 
 
 50,000 
 
 £,^ 
 
 .037*274 
 
 - The commutations, N' 6 and 7, are propofed with a view of adding to the commerce 
 2nd wealth of the country, rather than as furniftiing the means of additional income. 
 
 Gg 2
 
 2i8 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 3. NEW and Additional TAXES. 
 
 
 
 
 per Annum, 
 
 I. 
 
 Tax on Income 
 
 - £ 
 
 1,250,000 
 
 2. 
 
 Exclfe on drefs 
 
 . 
 
 100,000 
 
 3- 
 
 Additional tax on fugar 
 
 - 
 
 1,243,300 
 
 4- 
 
 Additional excife on ale 
 
 - 
 
 538,000 
 
 5- 
 
 Additional taxes on cyder and perry 
 
 - 
 
 30,000 
 
 6. 
 
 Poll tax - - - 
 
 - 
 
 300,000 
 
 7- 
 
 Profeffional tax 
 
 . 
 
 250,000 
 
 8. 
 
 Tax on ftock-brokers 
 
 - 
 
 ^l^S^'o 
 
 9- 
 
 Tax on bachelors 
 
 •» 
 
 100,000 
 
 10. 
 
 Tax on abfentees 
 
 - 
 
 100,000 
 
 II. 
 
 Tax on parliamentary reprefentation 
 
 - 
 
 155,800 
 
 12. 
 
 Tax on corporations 
 
 - 
 
 62,500 
 
 13- 
 
 Taxes on the church 
 
 - 
 
 50,000 
 
 14. 
 
 Taxes on public amufements 
 
 - 
 
 30,000 
 
 15- 
 
 Dog tax _ _ - 
 
 - 
 
 62,500 
 
 16. 
 
 Hide tax _ - _ 
 
 - 
 
 420,000 
 
 17- 
 
 Tax of one half of the Income of thofe who die 
 
 500,000 
 
 i8. 
 
 Various mifcellaneous taxes 
 
 - 
 
 300,000 
 
 4. LUCRATIVE FINANCIAL PROJECTS. 
 
 1. Voluntary contributions 
 
 2. Proper employment of the poor 
 
 3. Coinage 
 
 4. Paper coinage - 
 
 5. Lotteries 
 
 6. Granting life annuities 
 
 fer Annum, 
 
 £ 100,000 
 
 2,000,000 
 
 30,000 
 
 500,000 
 
 1,000,000 
 
 100,000 
 
 Carried over £ 3>73 0,000
 
 OF THE BRITISH EMPIRE. 
 
 229 
 
 Brought over 
 
 7. Converting temporary into perpetual annuities 
 
 8. Sale of offices - _ _ 
 
 9. Sale of the crown lands 
 
 10. Stocks and funded property undemanded 
 
 1 1. The bank _ - _ _ 
 
 12. The Eaft Indies 
 
 2. 
 
 3- 
 4- 
 
 per Anr.um, 
 
 200,000 ' 
 250,000 
 100,000 
 50,000 
 200,000 
 2,000,000 
 
 £ 6,530,000 
 
 GENERAL ABSTRACT. 
 
 I. Economical arranojements 
 
 Improvements in the exifting revenue 
 New and additional taxes 
 Lucrative financial projects 
 
 per Annum. 
 
 £ ^037*274 
 700,000 
 
 5,529,600 
 
 6,530,000 
 
 Total £ 13,796,874 
 
 The grofs produce of the prefent taxes being 17,400,000/. the above 
 refources being added to it, it follows that the revenue of this country 
 might be raifed, by augmenting the commerce, and increafing the cir- 
 culating fpecie of the country, to above thirty millions ^^r annum. 
 
 But whatever the produce of fuch refources may prove, it is hoped 
 that, after fuch an enumeration, the chimerical terrors of defponding 
 patriots will be no longer liftened to by the public ; and that no idle 
 rumours ; no unimportant incidents abroad ; no events in which Bri- 
 tain cannot be materially interefted ; nor even adtual war, unlefs on 
 terms to the higheft degree unequal ; will have any material effe£l: in 
 diminifhing the credit of the countxy, or deftroying the confidence that 
 ought to be placed in its refources and in its ftrength. 
 
 '■ A new fpecies of ftock might alfo be eftabliflied, confifting of feypetital irredeemalle 
 annuities. It would fuit corporations equally well as any other fund ; and private indi- 
 viduals, who wiftied to intail their property, and to put it out of the power of their po- 
 fterity to wafte what they had acquired, would, for the fake of fuch an advantage, lend 
 their money to the public at even a cheaper rate. The capital would thus be funk, the 
 nominal magnitude of which is fo alarming to the public. 
 
 By
 
 ajo HISTORY OF THE PUBLIC REVENUE 
 
 By fome it may poffibly be contended, that in the courfe of this 
 inveftigation the author has carried his ideas of an economical nature 
 to a faulty extreme, and has fubmitted plans, in themfclves imprac- 
 ticable, to the confideration of the public. But many fchemes, at firfl; 
 fuppofed to be vifionary, have fucceeded by perfeverance and atten- 
 tion : pojfutii, quiapoffe videntur^ is a maxim which every nation ought 
 to keep in remembrance. To the aaive and determined, hardly any 
 plan is unattainable : by men of fuch a charafter the greateft obftacles 
 may be removed, and the greateft diflBculties furmounted ; and whilft 
 a fatal jealoufy fubfifts between Great Britain and France, every idea, 
 whether economical or otherwife, muft be kept in view, that can pof- 
 fibly produce any pecuniary advantages ; for no man can forefee to 
 what neceflities one or both may be reduced by their mutual animo- 
 fities. 
 
 It is a fortunate circumftance however for this country, that the 
 refources of the two nations can bear no compariion with each other, 
 and that thofe poflefled by Great Britain fo greatly preponderate. 
 
 The prefent ftate of the French finances has lately been explained to 
 the world, by an author poUelfed of all the advantages that a fertile 
 genius, a lively fancy, found judgment, and intenfe application, could 
 beftow ; who was inverted with authority fufRcient to command every 
 neceflary information, and who is now again in a fituation to carry fuch 
 plans into execution as are likely to prove beneficial to the empire that 
 he governs. It is natural for one who has been ambitious of treading 
 in the fame paths, to wifh that he had enjoyed firailar means of intel- 
 ligence and of power. 
 
 But what was the ftatement which M. Necker, with all that par- 
 tiality which he muft naturally feel for France, gave of the finances of 
 that country four years ago? The annual expence of the nation he 
 eftimated at 610,000,000 livres French, or 25,400,000/. fterling : 
 whereas the income of the taxes annually levied on the inhabitants of 
 France, produced only 585,000,000 livres, or 24,375,000/. fterling'': 
 and though the royal domains, and other mifcellaneous refources, 
 might poffibly yield about fifteen millions more, yet there was at that 
 
 * See vol. ii. chap. xii. 
 
 time
 
 OF THE BRITISH EMPIRE. 
 
 rime an acknowledged deficiency of about ten millions of livres, which 
 has fmce tnrned out ftill more confiderable. 
 
 Nor is it difficult to prove, tliat few of the refources above enu- 
 merated can be made ufe of or attempted in France, 
 
 In regard to economical arrangements, it is well known that 
 Mj Necker, during his former adminiftration, carried thefe ideas to as 
 great a height as they were capable of, in a defpotic and luxurious mo- 
 narchy : for the court of France, like every arbitrary adminiflration, 
 is nothing but a fadion confederated together for the government of 
 that great and powerful kingdom ; and this fadion is upheld, and re- 
 ceives perpetual acceflions, from the hopes that every individual be- 
 longing to it entertains of having fome fhare in the plunder of the 
 nation. But if ever thofe hopes are deftroyed ; if frugality is ever 
 carried to any extreme ; if all expe£lations of fharing in the fpoils of 
 the public are anuihilated, the power of the fadion would quickly ceafe, 
 and a revolution would be the necellary confequence. 
 
 Befides, fach has been the impolitic condudl of the French cabinet, 
 in fupporting the independence of North America ; in fuffering the 
 natives of that country to fpread their wild ideas of republicanifm 
 throughout every corner of the kingdom ; and indeed fo much have 
 the bold compofitions written in this country in favour of liberty, and 
 the legal rights of mankind, been circulated there ; that the feeds of 
 important political changes feem to be fown, which greater reftridions 
 on the royal bounty would have a tendency to accelerate. I confider, 
 therefore, any farther economical arrangements in the internal govern- 
 ment of France, as inconfiftent with the peace of the kingdom, or 
 not likely to be permanent : and it is hardly neceffary to remark, that 
 the French have no foreign fortreffes like Gibraltar to difpofe of, and 
 that no favings can be made in bounties or drawbacks, where hardly 
 any have been eflablifhed. 
 
 As to improvements in the exlfting revenue, it is well known tliat 
 many attempts have been made to enforce that important regulation of 
 levying an equal duty upon fait throughout the kingdom, but always 
 ineffedually. Though the government of France is invefled with 
 uncontrolled" authority over the property, the perfon^ artd the life of 
 every private individual ; yet the privileges claimed by incorporated 
 6 focieties. 
 
 231
 
 j,32 HISTORY OF THE PUBLIC REVENUE 
 
 focleties, or bodies of men, cannot be touched. That is the only- 
 check upon the del'potifm of the crown ; and were it to be removed, 
 every native of that country would confider himfelf as delivered up, 
 without refource, to all the horrors of flavery. Hence a ftand will 
 ever be made againfl any great alteration in the financial rights claimed 
 by the different provinces in the kingdom ; and whilft that continues 
 to be the cafe, no important improvement can be made witli regard to 
 the exifting taxes. 
 
 It is a lingular circumftance attending defpotic governments, that 
 however arbitrary they may be in other refpeds, yet it is very difficult 
 for them to impofe new taxes upon their fubjeds. The grand fignior, 
 •with all his power and authority, cannot add to his revenue, though 
 the fafety of the Ottoman empire depended upon its being increafed : 
 and though in France that principle is not carried to the iame height, 
 yet ftill there are various obftacles to any augmentation of iinpofts. 
 It is thought neceflary in the royal ediiSt to explain the reafons, and to 
 prove the neceffity, of the meafure ; nor is it accounted ftridly legal 
 until the new ordinance is rcgiftered by the different parliaments in 
 the kingdom, who often raife fcruples with a view of rendering them- 
 felves popular. The cafe in this country is very different. Such is 
 the confidence placed by the public at large in the Britilh parliament, 
 that the raifing of money, when once voted, never meets with any 
 oppofition. Nay, however anxious any fet of men may be to thwart 
 the minifter of the day, they know well that nothing would be fo 
 generally odious with the people, as throwing any obftacles in the way 
 of raifing the fupplies. Particular taxes may be objected to ; but there 
 is hardly an inftance of any individual in parliament attempting to 
 prevent government from raifing any fum of money, however enormous, 
 that was thought neceffary for the exigencies of the ftate. 
 
 Nay, if the difficulties that arife from the nature of the govern- 
 ment of France were to be removed", yet ftill it is much to be quef- 
 tioned whether any material increafe of revenue is confiftent with the 
 circumftances of the people. The poor, it is well known, are already 
 
 • It is impoffible to forefee what may be the confequences of the meeting of the Etats 
 Generaux of France ; but the probability is, that it will not add much either to the income, 
 or to the liberties of that kingdom, 
 
 loaded
 
 OF THE BRITISH EMPIRE. ii 233 
 
 loaded as heavily as they can bear; anxl fuch Is the ftyle in which the 
 pobleffe are cbUged to hve, in order to maintain their rank and dignity 
 in the ftate, that their income cannot bear any material diminution. 
 Indeed it will not be attempted, if the ancient fpirit of their nobles re- 
 mains ; and if that Ipirit is gone, who is there to prop up the former 
 military llrength and ardour of the nation ? 
 
 Befides, taxes cannot be carried in any country to the utmoft extent 
 of which they are capable, unlefs there is great public credit, confider- 
 able internal commerce, and extenfive paper circulation. How could 
 the taxes now paid by each province of France be conveyed to the 
 capital without thefe advantages, if they were to be doubled ? By 
 bills of exchange, or in bank notes, the taxes of the remoteft corner 
 ot Great Britain may be remitted : but miferable would be the cafe of 
 fuch diftrids, if fpecie alone were to be fent ; and if every year they 
 were obliged to fupply themfelves with a frelh quantity for that pui-pofe. 
 Until France enjoys the fame conveniences, its revenue cannot be greatly 
 augmented. 
 
 Nor does it appear to me that any of thofe financial operations, 
 which ftand a chance of proving fo beneficial to this country, could be 
 fuccefsful in France. It would be vain to exped in any arbitrary go- 
 vernment, to derive much profit from encouraging voluntary contri- 
 butions ; and as to the relburces arlfing from the proper employment 
 of the poor, from circulating parliamentary paper, from fliaring in the 
 profits of a national bank, and from appropriating to public purpofes 
 the revenues of an extenfive empire In the Eaft, there is nothing in 
 France of a fimilar nature. Indeed the only two^folid refources be- 
 longing to that country are, the property of the crown, and the pro- 
 perty of the church. But whether the latter can be infringed upon, or 
 attacked, confidering the fuperftition of the people ; whether it would 
 be prudent in a kingdom fo populous and extenfive, to loofen the 
 bands of religion, by which It has In a great meafure been kept toge- 
 ther ; and whether an increafe of religions would not neceflarily draw 
 on an augmentation of civil privileges, are points concerning which It 
 would not become a foreigner to hazard an opinion. 
 
 Unfortunate indeed it is for both countries, that any compaiifon 
 between their mutual ftrength fhould be at all neceflary ; and Hill more 
 
 Part III. H h fo,
 
 234 HISTORY OF THE PUBLIC REVENUE 
 
 fo, that in the courfe of fo many recent wars that ftrength fhould (o 
 often have heen n\eafured. The folly and madnefs of fuch frequent 
 hoftilities, furely, do not require to be again illuftrated, fo foon after 
 a celebrated foreign ftatefman has delivered his fentiments on the fub- 
 je£t. Nothing can be better founded than the arguments which he 
 makes ufe of againfl; fuch deftrudive contefts ; nor brighter than the 
 eloquence with which he defcribcs all the horrors and miferies of war. 
 May he not have written in vain ! May fovereigns be awakened, by 
 ^ his fage reflexions, from the illufions of vanity and ambition! And 
 thence may a new epocha arife in the hiftory of the human fpecies, 
 when ardent warriors fliall no longer meet with hoftile eyes ; but the 
 whole earth fhall exhibit one univerfal fcene of induftry and peace **! 
 
 ■" Such were the fentiments entertained by the author rerpe<?iing the political ftate of 
 France in the year 1786; fince which period many uiiexpefled events have taken place 
 in that country, which may require feme aJJitioiial obfervations. It is propofed, however, 
 to referve any difcuffion of that nature for the enfuing chapter, in which it is intended 
 briefly to compare the income, the expenditure, and the incumbrances of the two 
 kingdoms.
 
 OF THE BRITISH EMPIRE. 
 
 ^3S 
 
 CHAP. V. 
 
 Analyfn of the prefent National Debt^ with fome Ohferva- 
 tiofis on the Nature and real Amount of the Bur- 
 de?z^ and the Means of dif charging it; together with 
 a State of the public Income and Rxpenditurey cotn-^ 
 pared to that of France, 
 
 THE incumbrances of this nation are involved in fuch confufion, 
 owing to the different companies, and the numerous other pro- 
 prietors, to whom the capitals belong ; — to the various rates of intereft 
 which the public creditors receive (fome part of the debt being at 3, 
 fome at 4, and fome at 5 per cent.) — to the feveral periods at which 
 they were contracted — to the duration of the different funds themfelves, 
 fome of which are only temporary, whilft others are perpetual ; and to 
 the great difference between the real and the nominal amount of the 
 debt, &c. &c. that it is very difficult to form a juft idea of the fubjed:. 
 Such a difcuffion, indeed, muft prove dry and unpleafmg : but as it is 
 impoffible to underftand the real ftate of the load upon the public, 
 without analyfing, with fome degree of minutenefs, the various articles 
 of which it confifts ; it is therefore hoped that the following information 
 upon the fubjed: will not be unacceptable. 
 
 Our debts may be divided, firft, into the funded and the unfunded. 
 
 1. FUNDED DEBTS. 
 
 Funded debts are thofe for paying the intereft, and fometimes for 
 dlfcharging the principal of which fome branch of the revenue is mort- 
 gaged. They are of two kinds, Papelual and Temporary. The firft 
 are granted for ever, unlefs redeemed by parliament : the fecond expire 
 
 H h 2 with
 
 23(5 HISTORY OF. THE PUBLIC REVENUE 
 
 with the life of the perfon to whoin fuch an annuity has been fold, or 
 at a certain period fixed upon by the original contrad. 
 1. Perpetual It is natural at firft to entertain a degree of dread and horror at the 
 annuities. mention of perpetual incumbrances. To load a nation^or ever with a 
 burden merely to obtain a little temporary benefit, or to avoid a trifling 
 inconvenience for the moment, feems to be inconfiftent with the 
 foundefl; principles of juftice and equity. What have we to do, it may 
 be faid, with the wars into which our anceftors rafhly entered ? If they 
 thought them neceflary, they ought to have maintained them at their 
 own cxpence ; nor did we ever give the parliaments of King Wil- 
 Uam, or Queen Anne, any authority to wafte our money in hoftilities, 
 from which we have derived no fenfible advantage. 
 
 That preceding parliaments and former minifters have been too pro- 
 digal of the public money, cannot be denied. But, greatly as they 
 have been to blame, we fhould be much more culpable, if, to the beft 
 of our abilities, we did not fulfil obligations contraded in the name of 
 the State, and which ought ever to be held facred. If in private life that 
 man holds the mod honourable rank among his fellow-citizens, who is 
 the mod anxious to anfvver his engagements; and if inftances are not 
 wanting of individuals, who have paid off the debts of their anceftors, 
 from whom they inherited no wealth, and whofe incumbrances they 
 were not bound to difcharge ; how much more is fuch a fyftem of con- 
 duct: incumbent upon a great community? 
 
 Befides, though our anceftors were very far from being niggardly in 
 their public expenditure ; and though the wars in which they were en- 
 gaged were not always neceiTary for the fafety and intereft of the nation ; 
 and though, of confequence, they have left us an eftate deeply, and 
 fometimes unneceflarily, loaded ; yet is not the burden of the mortgage 
 greatly alleviated by this confideration, that the property on which it is 
 placed, joined to all the rights and privileges thereunto appertaining, is 
 almoft invaluable ? The ftock and capital of the kingdom exceed, in 
 real worth, one thoufand millions. The value of the various depend- 
 encies bequeathed to us from our predeceflbrs, is not inconfiderable ; 
 and thofe liberties and that conftitution which we alfo inherit from 
 them, and for the prefervatlon of which fo much blood and treafure 
 
 have
 
 OF THE BRITISH EMPIRE. 237 
 
 have been fpent, let us not rafhly defpife. Were they wanting, we 
 ihould probably eftimate their price at many millions. 
 
 Let us examine, therefore, with a manly and undaunted fplrit, the 
 fituation in which we are placed, that we may be the better enabled to 
 judge what fteps are proper, and indeed neceffary, to be taken for the 
 prefervation of our public credit, the honour of thefe times, and the 
 happinefs of pofterity. 
 
 The perpetual annuities are due either to trading companies, who, 
 in addition to the annuity they receive from the public, enjoy the profit 
 of lucrative privileges granted to them as an additional premium, or to 
 a number of unconne£ted individuals, who are paid merely a certain 
 annual intereft. 
 
 The firft in point of time, and now the greateft In point of capital, of The Bank, 
 our trading and funded companies, Is the Bank of England. 
 
 Many attempts were made to bring fuch an Inftltution to bear, before 
 the prefent Bank was eftablifhed. 
 
 Soon after the Reftoratlon, it was propofed to eredl aii office of credit 
 for the reception of goods and merchandife ; for the appralfed value of 
 •which, notes were to be ilTued, which it was imagined the merchant 
 would find lefs difficulty in negotiating, than in borrowing upon the 
 goods themfelves ^: and fuch a plan might be attended with confider- 
 able advantages to commerce, if commodities were now to be ware- 
 houfed in public repofitories, a proper receipt given by an officer ap- 
 pointed for that purpofe, and the property of goods to be transferred by 
 indorfements upon fuch receipts. The high duties to which all com- 
 modities are now fu])je<fl, render every plan for the eafe and conve- 
 nience of trade more necefiary than ever. 
 
 It was in the year 1678 that Dr. Lewis, an eminent clergyman, 
 publifhed his Model of a Bank, with feme obfervatlons on the great 
 advantages that would accrue from It, to the crown and to the people ^ 
 But who could venture, in the reign of a rafli, defperate, and needy 
 
 • See A Defcription of the Office of Credit, &c. &c. and the Obje^Sions hitherto made 
 againd it fully anfvvered ; printed anno 1665. 
 
 f Propofals to the King and Parliament of a large Model of a Bank; by Matthevw 
 Lewis, D. D. Printed by Henry Mcllion, anno 1678. 
 
 monarch,
 
 Bank. 
 
 438 HISTORY OF THE PUBLIC REVENUE 
 
 monarch, like Charles II. to truft their property in any place which he 
 might be tempted to invade, and to which he could poffibly find 
 accefs ? 
 
 The fame circumftance prevented the eftablifliment of a bank atino 
 1683. By letters patent from the crown, a company had been eredted, 
 called the Royal Fifhery of England, inftituted for the purpofc of car- 
 rying on that branch of commerce with advantage to this country, and, 
 indeed, with the hopes of depriving the Dutch of the profits they ac- 
 quired by filhing upon our coafts. Upon this company, it appears 
 that a general bank of credit was engrafted ^ : but though the plan was 
 fupported by perfons of confiderable character and property, neither the 
 ftate of the government, nor the temper of the times, were calculated 
 for fuch an inftitutioa ; and confequently it was foon dropped. 
 Origin of the The prefent Bank of England was eftablifhed O7tno iGi)^". Nothing 
 can more clearly prove the low ftate of our public credit, and the great 
 fcarcity of fpecie at that time, than the terms which parliament found 
 itfelf under the neceffity to grant. For the fake of receiving 1,200,000/. 
 government agreed to pay not only intereft, at the rate of 8 per cent. 
 and 4,000 /. for the expence of management ; but the fubfcribers were 
 alfo eredled into a corporate body for the purpofe of carrying on the 
 lucrative trade of banking. It was expeded, however, that the circu- 
 lation of their notes, and the eftablifhment of paper credit, would greatly 
 facilitate the raifing of the fupplies, and prove a general cafe and ac- 
 commodation to the public in all pecuniary tranfadlions. 
 
 It was difficult at firft: to reconcile the nation at large to this infll- 
 tution. 
 
 By fome it was contended, that it was impoffible to ere£t a bank la 
 any country where the government was not republican ; and if once 
 eftablifhed in England, that we ran the utmoft. hazard of being made 
 fubjed to a commonwealth. Others were convinced, that the effed 
 would be, to render the king abfolute, to whom it was faid the monied 
 
 « See an Account of the Conftitution of the General Bank of Credit j printed anna 
 1683. 
 
 '' ^^ 5 Will, and Mary, cap. 20. The charter from the crown is dated July 27, 
 1694. 
 
 3 intereft
 
 OF THE BRITISH EMPIRE. 239 
 
 intereft would naturally adhere for encouragement and protedion. 
 Some undertook to prove, that it would enhance the price of land, and 
 utterly difcourage, if not ruin, trade: whilft others aflerted, that the 
 Bank would prove ib eafy, profitable, and fecure, for payments and 
 receipts, that all the money in the nation would naturally run into 
 trade ; and none would remain either to purchafe or to improve any 
 landed property in the kingdom. But it was prophefied, at the time, 
 that the advantages of fuch an undertaking, like all other great things 
 in trade, would be bed underftood from experience ; " and the time 
 (it was faid) " would come, when thefe conceived hobgoblins, fright- 
 " ful monfters, and horrid fpeclres, with which fome are pofTeffed 
 " about it, fhould vanifh, and be no more '." 
 
 But if ill-founded and chimerical objections were made to this infti- 
 tution by its foes, ihofe who fupported it held forth to the public argu- 
 ments in its favour equally fallacious, and expedlations which it was 
 impoffible to fulfil. 
 
 A text in Scripture was every where circulated in order to fanHify 
 the meafure ; and its friends were perpetually declaiming on this paf- 
 fage — " Wherefore, then, gaveft not thou my money into the Banh^ 
 " that at my coming I might have required mine own with ufury "?" 
 
 But intereft was fuppofed to be a more powerful inducement with 
 mankind in general, and in particular with wealthy individuals, to 
 fupport fuch a fcheme, than any religious recommendation. Accord- 
 ingly, it was ftated, that, by fuch means, the rich might have their 
 perfonal property fecured from every rifk, and might enjoy, at the fame 
 time, great pecuniary advantages. The landed gentlemen, who for- 
 merly could not borrow four thoufand pounds upon an eftate of one 
 thoufand pounds a year, without additional perfonal fecurity, might now 
 (it was fiid) borrow four thouHmd pounds upon three hundred pounds 
 per annum. The merchant who brought a cargo to England worth 
 three thoufand pounds, might have money to that amount at the Bank, 
 without the fmulleft difficulty, and might thus carry on his traffick to 
 additional advantage : and, to fum up all in a few words, " it would 
 
 ' See a Brief Account of the intended Bank of England ; printed for Randal Ta}lor, 
 anno 1694, p. 17. 
 
 ^ Luke, chap. xix. verfe 23. 
 
 " render
 
 (^40 HISTORY OF THE PUBLIC REVENUE 
 
 ** render the fovereign great, the gentry rich, the farmer flouriflilng : 
 *' our commerce would increafe, our fhips multiply, our feameu 
 *' would never want employment; new manufactures would be fet up, 
 " and the old greatly encouraged '." 
 
 The public, by fuch arguments as thefe, being impreffed with a fa- 
 vourable idea of the meafure, on the 1 6th of June 1694, a commiflioa 
 was iflued under the great feal, for taking fubfcriptions. On the 21ft 
 of June, the commiffioners attended, for the firft time, at Mercers 
 Chapel. Nearly 300,000/. were fubfcribed the flrft day; 200,000/. 
 the fecond, and as much on the third : and before the fecond of July, 
 the whole fum was made up. The fuccefs was beyond expetStation ; 
 for it had been thought neceflary to make provifions in the bill, on the 
 fuppofition that only 600,000/. might be fubfcribed. 
 
 Thus the Bank was eftablifhed ; but it was entitled to no exclufive 
 privileges of banking. It was merely ere(fted into a corporation, which 
 it was in the power of the public, upon one year's notice after the ift 
 of Auguft 1 705, to annihilate, by repaying the money that was bor- 
 rowed. 
 Firft pro- But the public foon experienced the vanity of thofe delufive prog- 
 
 ongation. noftications which it had been led to entertain refpeding the mighty 
 advantages to be derived from this inftitution. The Bank, inflead of 
 fupporting the credit of the nation, was unable to maintain its own. 
 In the year 1696, it was found neceflary to appoint a committee of the 
 houfe of commons to infpedt their books, and to examine certain ac- 
 counts with regard to their fituation which they had given in to the 
 houfe "". The report of this committee contains feveral curious parti- 
 culars". It appears that 893,800/. were iflued in fealed Bank bills, 
 which bore an intereft of 6 per cent, 68,669/. ^"^ fpecie notes, which, 
 ■when exceeding 20/. were paid an interefl: at the fame rate; and that 
 the notes bearing no intereft amounted to 695,527/. but they were at 
 a very great difcount. It farther appears, that a balance of 300,000/. 
 was due to the States of Holland for money advanced by them. As 
 
 * England's Glory by a Royal Bank, printed anno 1694.; principally taken from Dr. 
 Lewis's former publication. 
 " Comm. Jouxn. vol. 12. p. 614, 615. " Ibid. p. 621. 
 
 this
 
 OF THE BRITISH EMPIRE. 241 
 
 this debt Is called a balance^ it mufl: have been originally much more 
 confiderable. It is uncertain whether this fum was borrowed by the 
 Bank in order to carry on the original purpofes of its eftablifhment, or 
 arofe from a credit which the company gave to the king, to enable him 
 to procure money on the continent for carrying on the war°. Only 
 42,160/. were iffued on private loans and mortgages. 
 
 In confequence of this inquiry, and in order to clear the market of 
 part of a load then fo much in dilrepute ; not without hopes alfo, by 
 fuch means, of reftoring the credit of the nation then at the lowert ebb ; 
 an a<a was pafTed " for enlarging the capital of the Bank of England by 
 ingrafting upon its ftock new fubfcriptions, four-fifths of which were to 
 <:onfifi: of Exchequer tallies, and the remaining fifth in Bank notes ^ 
 and government agreed to allow Interefl, at the rate of % per cent, upon 
 fuch tallies, until they were paid oi£ The term which had beea 
 granted to the Bank was alfo prolonged to the iftof Augull 1710; and 
 during the continuance of the corporation, no other bank or fellowfliip 
 of that nature was to be ereded, fuffered, or countenanced, by ad of 
 -parliament. It was expedied that 3,600,000/. would have been in- 
 grafted ; inftead of which, the fubfcriptions amounted only to 
 1,001,171/. lox. But even this operation, though on a fmaller fcale, 
 was attended with confiderable advantage: for about 200,000/. in Bank 
 notes, and 800,000/. in tallies, being thus funk by the new fubfcription 
 the credit both of the Bank and of the public began to revive : notes 
 without intereft came to be on a par with fpecie. Money began to cir- 
 culate on very moderate terms ; and the exchange with the continent, 
 from being very unfavourable, was foon brought to an equality ". 
 
 Thus the exclufive right of banking as a corporation was firft ac- 
 <iulred by the company, and its capital ftock was thus increafed to the 
 fum of 2,201,171 /. IOJ-. But fo produdive was the fund upon which 
 the ingrafted tallies were placed, that they were all paid off in the 
 courfe of a few years ; and though the capital ftock on which the pro- 
 
 • See the Arguments for and againft ingrafting npon the Bank; in a Letter to a Friend, 
 p. 12. 
 
 f 8 Will. cap. 20. 
 
 * Life of Halifax, p. 40. It appears that the whole plan was contrived and conduced 
 by that judicious ftatefman. 
 
 Part III. I i prietors
 
 244 HISTORY OF THE PUBLIC REVENUE 
 
 prletors divided remained at the above fum, the money due by govern- 
 ment was reduced to 1,200,000/. before the next prolongation. 
 
 Second pro- "The difficulties to which Queen Anne's minifters were reduced dur- 
 ing the fucceffion war, rendered it natural for them to think of making 
 ufe of this corporation as a refource. Accordingly, an a£t was pafled, 
 au/io 1709', by which, in confideration of 400,000/. advanced to go- 
 vernment, their privilege was continued to the ift of Auguft 1732, and 
 an annuity, at the rate of 6 per cent, was granted on the fum which then 
 became due by the public, amounting to 1,600,000/. Both the re- 
 newal of the charter, and the terms on which it was given, were at . 
 that time loudly reprobated. The danger of trufting any fet of men 
 with fo valuable a privilege, by which they might engrofs the whole 
 treafure of the kingdom, and which it was in their power to make ufe 
 of, either for the prefervation or ruin of the nation, was painted in the 
 ftrongeft colours '. And with regard to the terms, they were, in fadl, 
 of little real advantage : for the intereft of money was then at 6 per cent. 
 Two years intereft was alfo allowed, at that rate, upon the 400,000/, 
 advanced, and the intereft payable upon Exchequer bills, amounting 
 to 1,775,027/. 1 7 J. loi^. was raifed from 4-7 (at which they had for- 
 merly engaged to circulate them) to 6 per cent, ; but to a needy and 
 harafTed miniftry, the advance of about 400,000/. was an ai-gument 
 weighty enough to filence all objedions. 
 
 Third pro- In almoft every inftance, our minifters feem to have ■contended which 
 
 "g"'0"' of them fhould make the moft advantageous bargain for the Bank, and 
 the leaft favourable to the public. But that whicli was concluded 
 anno 171 3 is, upon the whole, perhaps the worft. By an ad pafled 
 that year ', their charter was prolonged to the ift of Auguft 1 742 ; in 
 confideration of which, they agreed to circulate exchequer bills to the 
 amount of 1,200,000/. for which they were to receive 2> P^^ '^^"^' P^^ 
 annum^ and a farther yearly fum of Sopo/. payable quarterly, under the 
 denomination of premiums for the expence of circulation, in addition to 
 au intereftof 2 d. per cent. a. day, payable to the bearer. Nor was this. 
 
 • 7 Anne, cap. 7. 
 
 » Remarks upon the Bank of England, printed anno 1707, p. 30i This was no ideal ' 
 objecE^ion, for the Bank afFeded, in the reign of Queen Anne, to control the government. 
 
 * 12 Anne, feff. i. cap. 11, 
 
 aU:
 
 OF THE BRITISH EMPIRE. 243 
 
 all : for as the money was placed upon a fund already deeply mort- 
 gaged, power was therefore given to the treafury, to compute quarterly 
 what was grown due for intereft and premiums on thefe and other 
 exchequer bills due from the public, and to iffue out new exchequer 
 bills bearing the like intereft and premium. Thus, whilft the Bank 
 was purchafing the prolongation of a very valuable monopoly, it com- 
 pelled the public to pay a quarterly compound intereft of above 6 per 
 cent, by which their principal would be doubled in about ten years ". 
 
 When the exclufive privileges which the Bank had thus acquired Fourth pro- 
 
 , , . . r 1 1 • longation. 
 
 Xvere brought near to a termmation, we were unrortunately engaged m 
 an expenfive and dangerous war ; a circumftance of which the corpo- 
 ration availed itfelf, in order to conclude a very profitable bargain. 
 They advanced, it is true, 1,600,000/. to government, for which it 
 was faid they received no intereft ; but it was added to the capital, the 
 ■whole of which, amounting, with that addition, to 3,200,000/. was to 
 receive an intereft of 3 per cent. The difadvantages of this bargain 
 Were fully explained at the time. It was ftated, that lending money at 
 3 per cent, was no favour to government, becaufe the T^per cent, lottery 
 annuities were at par. Indeed it was demonftrably proved, that the 
 Bank not only paid nothing for the prolongation, but alfo made a mil- 
 lion of money by the agreement. Bank ftock then fold at i:\o per cent. 
 cr 40/. premium. If the 1,600,000/. due to them had been paid 6fF 
 at par, the whole premium thereon, amounting to 640,000/. would 
 have been loft to the proprietors ; whereas, by adding as much to 
 their capital, and felling it at the fame rate, 640,000/. was gained. 
 According to this calculation indeed, the whole faving and profit to the 
 proprietors of the Bank, would have amounted to 1,280,000/. But as 
 fome allowance muft be made for fo great a quantity of ftock coming 
 into the market at once, the whole advantage ought not to be eftimated 
 at more than a million *. 
 
 • Hift. of our Nat. Debts, Part II. p. 154. The quarterly bills iflued in confe- 
 .<juence of this aiS, amounted to 96,500/. The fum was not great, but the principle was 
 ■truly dangerous. 
 
 * Some Confiderations relative to the intended Bank new Contrail, print^ anno 1 742, 
 *ol. p. 5. 
 
 I i a It
 
 24+. HISTORY OF THE PUBLIC REVENUE 
 
 Fifchpro- jj; ^yas Under the admlnlflration of Mr. Grenville, anno 1764, that 
 
 the charter of the Bank was next renewed ''. The terms were rather 
 more favourable to the public than ufual. The company agreed to pay 
 110,000/. to be difpofed of by parliament, without allowance of 
 intereft, or repayment of principal. They alfo undertook to circulate a 
 million in exchequer bills, undemandable for two years, at only 3 per 
 cent, intereft, though exchequer bills bearing ^ per cent, were then at a 
 difcount. A number of commercial bankruptcies having happened a 
 fliort time before on the continent, which rendered it neceflary for the 
 Bank to make exertions to hinder almoft a general failure at home^ 
 prevented the minifter from making higher demands''. On thefe terms 
 the privileges of the Bank were prolonged for the fpace of twenty-one 
 years. 
 
 Sixth pro- Ti^e laft prolongation took place amio 1781. By an adt pafled that 
 
 longanoD. ,,. .° .\. r i.r 
 
 year , an addition was made 01 twenty-Ieven years to the lormer term ;, 
 and it is confequently extended to the ift of Auguft 1812. The only- 
 advantage which it is pretended the public received from this tranfadion,, 
 was, the circulation of two millions of exchequer bills, not demandable 
 for two years, at the intereft of 3 per cent. The difference between 3 
 and 5 /<?/■ cent, on 2,000,000/. for only two years, on the fuppofition 
 that exchequer bills could not be circulated at a lower rate, feems ta 
 have been a very inadequate compenlation for fo long an extenfion, and 
 proves either the fuperiority of monied men in pecuniary negotiations, or',, 
 how little the intereft of the public is confidered on fuch occafions, when: 
 put in comparifon with a little temporary convenience to the minifter of 
 the day ^ 
 
 From this concife view of the various agreements with the Bank of" 
 England, it does not appear that they were ever attended with any 
 
 y 4 Geo. III. cap. 25. 
 
 * There is an account of this tranfa£lion in the Confiderations of the Trade and 
 Finances of this Kingdom, fuppofed to be written by Mr. Grenville hirafelf. 2d edition, 
 page 31. 
 
 * 21 Geo. III. cap. 50. 
 
 * The whole premium given by the Bank for this renewal, at the utmoft, cannot be 
 eftimated at more than 80,000 /. whereas the prolongation has enabled them to increafe 
 their dividend to 7 pir cent, and confequently has given them an additional income of 
 II 6,424 /• per annum, 
 
 material
 
 OF THE BRITISH EMPIRE. 245 
 
 material benefit to the public. The only fum which government ever 
 received, without becoming bound to pay, either the intereft ufual at the 
 time, after a (hort fufpenfion, or to repay the principal, was the trifling 
 fum of 110,000/. obtained by Mr. Grenville. The corporation has 
 undoubtedly been of fervice in circulating exchequer bills ; in facili- 
 tating, by their notes, great pecuniary tranfadions ; and in maintaining, 
 to a confiderable degree, credit both public and private. But it is to 
 be hoped, when a bargain comes again to be concluded, inftead of any 
 advance of money, or any inadequate compenfation of that nature, 
 that one half of the clear annual profits of the company will be infilled 
 upon. A power alfo fhould be referved in the ftate, at any time it 
 thought proper, to eredl another bank, which, though it would not be 
 much relifhed by thofe who are infeded with a fpirit of monopoly, yet 
 the confequences of fuch a rivalfhip would be of infinite benefit to 
 trade, and produdlive of many folid advantages to the nation. 
 
 It now only reraains to give a concife view of the progrefs of the 
 capital and dividends of the Bank from its firft eftablilhment ; together 
 ■with an account of the fums now due to that corporation, in confe- 
 quence of advancing which, its privileges were originally acquired, and 
 have fmce been continued. 
 
 GENERAL VIEW of the Progrefs of the CAPITAL and 
 DIVIDENDS of the BANK of ENGL AND, from the 
 Revolution to the prefent Time. 
 
 Original capital, anno 1694 - ^T 1,200,000 o o 
 
 Original dividend 8 per cent^ 
 
 Capital anno 1696-7 ^ _ _ 2,201,171 10 o 
 
 Dividend, 23d March 1708, ^ per cetit." 
 
 Capital, anno 1708 - - 4,402,343 o o 
 
 1709 - - 5>o58,547 ^ 9 
 
 1 7 10 - - 5»559.995 H 8 
 
 • 1722 - - 8,959,995 14 8 
 
 ' See 7 Anne, cap, vii. claufe 68. From 1708 to 1730, the dividends varied from 
 9 to 6 fa tent. 
 
 Dividend,
 
 246 HISTORY OF THE PUBLIC REVENUE 
 
 Dividend, 25th March 1730 ^percent. 
 
 29th Sept. 1730 ^\ per cent. 
 
 25th March 1731 ^percent. 
 
 29th Sept. 1 73 1 ^\ per cent. 
 
 25th March 1732 6 per cent. 
 
 ' 29th Sept. 1732 ^k per cent. 
 
 Capital, atmo 1742 - - ^i^" 9,800,000 
 
 Dividend, 29th Sept. 1742 y^ per cent. 
 Capital, a/ino 1746 - - 10,780,000 
 
 Dividend, 29th Sept. 1746 ^i per cent. 
 
 ' — 25th March 1747 ^percent. 
 
 — 5th April 1753 /^\ per cent. 
 «— I oth Odt. 1 764 5 per cent. 
 
 — lothOd. 1767 s\ per ccjit. 
 
 — lothO^t. 1 78 1 6 per cent. 
 
 Capital, anno 1782 - - 11,642,400 o o 
 Dividend, 5th April 1782 6 per cent. 
 jth April 1788 y per cetit. 
 
 Confcfjuently the prefent capital on which the Bank divides, amounts 
 ■to 1 1,642,400/. which, at an intereft of y per cent, is 8 14,968 1, per annum. 
 
 But this is not the exadt fuin due hy the public to the company^ 
 and far lefs is the dividend above mentioned the intereft which it 
 receives. It is therefore propofed to give an account of the money 
 borrowed at different times from that corporation, together with the 
 prefent ftate of that debt, and intereft payable thereon. 
 
 GENERAL VIEW of the Sums borrowed on permanent Loans 
 from the Bank, with the Intereft thereof. 
 
 Money borrowed. Annual Intereft. 
 
 Sum originally borrowed 
 
 dX^ per cent. - /" 1,200,000 o o ^96,000 o o 
 
 By 7 Anne, cap. 7, 
 
 400,000/. additional 
 
 borrowed, making in all 
 
 a capital of 1,600,000/. 
 
 •the whole bearing an 
 
 mitxt^ oi 6 per cent. 1,600,000 o o 96,000 o o 
 
 By
 
 OFTHEBRITIS PI EMPIRE. 247 
 
 Money borrbwed. Annual Intereft. 
 
 By 3 Geo. I. cap. 8. the 
 fum borrowed increafed 
 to3'375>o27/.i7J.ioi^. 
 bearing an interefl on 
 the additional loan or 
 
 I»775i02 7/: 17 J. lol^. 
 
 of 5 per cent, from 
 
 Midfummer 1718 £ h2>7SP^7 ^7 ^°i jC 184,751 17 lo| 
 
 By 8 Geo. I. cap. 2.i» 
 
 and 1 1 Geo. I. cap. 9, 
 
 the capital increafed, 
 
 and the interefl reduced 
 
 to /\.per cent, on the ad- 
 
 ditionalloansfince 1709 9>3753027 17 lol 407,001 2 j| 
 By 15 Geo. II. cap. 13, 
 
 the capital increafed 
 
 to 10,700,000/. partly 
 
 at 3 and partly at j\.per 
 
 cent,. - — 10,700,000 o o 396,000 o <x 
 
 By 19 Geo. II. cap. 6, the 
 
 fum of 986,800/. far- 
 ther advanced, and the 
 
 interefl: on the whole 
 
 reduced to 3/fr fd"///. 11,686,800 o o 352,502 3 5 
 
 Such are the fums which the Bank has lent on permanent fecurities, 
 no portion of which the public is under any neceflity of repaying, 
 until its privileges expire. Various other loans of a temporary nature, 
 however, are advanced on the credit of exchequer bills, and of the land 
 and malt taxes, which are annually voted. But thefe fums make a 
 part of what is called the Unfunded Debt. At prefent it will be fuffi- 
 eient to remark the great confufion which exifts in regard to this branch 
 of our national incumbrances. The capital on which the Bank divides 
 amounts to 11,642,400/. whereas the fum due by the pul)lic is 
 1 1,686,800, or 44,400/. additional. The interefl paid by the public is but 
 352,502/. 3^. 6d. whereas the Bank, in confequence of the profits of its 
 12 bufinefsj.
 
 company. 
 
 248 HISTORY OF THE PUBLIC REVENUE 
 
 bufinefs, is enabled to maike a dividend at the rate of 814,968/. per 
 anntim^ or 462,465/. i6j. dd. more than it receives; a circumftance 
 which it is hoped our minifters, in the event of another prolongation, 
 will advert to^ 
 
 In addition to the above Intereft, the fum of 5,898/. 3 j-. 5^. is annually- 
 allowed for the charges of management ; of which 4,000/. was given 
 at the original eftahlifhinent of the Bank, and the remainder in the 
 year 172?., when four millions were purchafed from the Souih Sea 
 company. 
 EaA India Xhe reign of Queen Elizabeth is diflinguiflied by the firft attempt 
 
 at any commercial intercourfe with the Eaft ; a charter for that purpoi'e 
 having been granted to a company of merchants in the year 1590, 
 which was renewed at different times by her fuccefTors of the houfe of 
 Stuart, with the addition of many important privileges. 
 
 The rivalfliip of the Dutch, the jealoufy of the natives of Afia, and 
 the war with France at the revolution, reduced that company to the 
 greateft diftrefs ; infomuch that their inability to carry on the trade 
 became evident. Encouragement therefore was ^iven to a new fet of 
 adventurei-s to profecute the fame; and on the 5th of September 1698 
 a charter of incorporation was granted to a fociety who had agreed to 
 advance two millions to the public, in confideratioa of the privileges 
 granted to them for carrying on their traffic. 
 
 The old compaoy however was ftill fuffered to fubfift : but a compe- 
 tition between the two focieties being found prejudicial to both, by the 
 mediation of government an union between them was effeded in 1708: 
 and a new corporation was created, fmce known under the name of 
 The United Company of Merchants trading to the Eajl Indies ; whofe 
 capital was fixed at 3,200,000/. of which two millions were ad- 
 vanced by, or belonged to the new, and 1,200,000/. to the old adven- 
 turers % The privileges of the corporation were at the fame time pro- 
 longed to the 25th of March 1726. 
 
 * If the money advanced by the Bank, namely, 11,686,800/. were at ^ per cent, it 
 would yield only 584,34.0/. per annum; confequently the Bank divides at this time 
 230,628 /. more than the ufual and legal intereft of the country. 
 
 ' 6 Anne, cap. 17. 
 
 The
 
 OF THE BRITISH EMPIRE. 2+9 
 
 . The rights and charters of the company were afterwards conthiued 
 by different ads pafled in the reigns of George the Firft and 
 George the Second, until the 25th of March 1780: and that term has 
 fince been prolonged to the ift of March 1791; when, upon three 
 years notice to be given by parliament, and the repayment of the 
 money due by the company, the exclufive trade to the Eaft Indies may 
 be annulled ^ 
 
 The capital flock of the company, and the dividends thereon, have 
 greatly varied at different periods. 
 
 GENERA!. VIEW of the PROGRESS of the CAPITAL and 
 DIVIDENDS of the Eaft India Company. 
 
 Original capital aniio 1698 
 
 - 
 
 £ 2,000,000 
 
 Original dividend 8 per cent. 
 
 - 
 
 
 Capital anno 1708 
 
 - 
 
 3,200,000 
 
 Dividend at Chriftmas 1708 
 
 5 per cent. 
 
 
 Lady-day 1709 
 
 8 per cent. 
 
 
 Michaelmas 1709 
 
 9 per cent. 
 
 
 Michaelmas 171 1 
 
 1 per cent. 
 
 
 Midfummer 1722 
 
 8 per cent. 
 
 
 Midfummer 1732 
 
 7 per cent. 
 
 
 Midfummer 1743 
 
 7 per cent. 
 
 
 Chriftmas 1756 
 
 8 per cent. 
 
 
 Chriftmas 1766 
 
 6 per ce?it. 
 
 
 Chriftmas 1768 
 
 1 per cent. 
 
 
 Chriftmas 1769 
 
 1 1 per cent. 
 
 
 Chriftmas 1770 
 
 1 2 per cent. 
 
 
 Midfummer 1772 
 
 1 2 1 per cent. 
 
 
 Midfummer 1776 
 
 6 per cent. 
 
 
 Chriftmas 1777 
 
 7 per cent. 
 
 
 Chriftmas 1789 
 
 8 per cent. 
 
 
 Capital anno 1789, in confeqi 
 
 Lience of an ad 
 
 
 (26 Geo. III. cap. 62.) by which the fum of 
 
 
 800,000/. was added to the ftock 
 
 4,000,000 
 
 ' 21 Geo. III. cap. 65. 
 
 
 •art in. 
 
 K k 
 
 
 The
 
 45© 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 The dividend on this capital, at the rate of 8 per cent, amounts to 
 320,000/. per arifium. 
 
 The progrefs of the loans from the Eaft India Company to the 
 public, will appear from the following ftatement : 
 
 GENERAL VIEW of the SUMS borrowed from the Eafl India 
 Company, with the Interefl; thereof. 
 
 Sum originally borrowed at 
 8 per cent. 
 
 By 6 Anne, cap. 17. the 
 capital was increafed 
 1,200,000/. and the in- 
 terefl diminifhed to 6 per 
 
 . cent. 
 
 By 3 Geo. 11. cap. 14. the 
 interefl; on the above ca- 
 pital reduced to i\.per cent. 
 
 By 17 Geo. II. cap. 17. a 
 million was borrowed from 
 the company at the rate of 
 3 per cent, and by 23 
 Geo. II. cap. 22. the ori- 
 ginal loan of 3,200,000/. 
 having been reduced firft 
 to 35, and afterwards to 
 ^percent, confequently the 
 total fum borrowed is 
 4,200,000/. bearing an 
 interefl: of 3 per cent. 
 
 Money borrowed. 
 
 Interefl. 
 
 £• 
 
 . £' 
 
 2,000,000 
 
 160,000 
 
 3,200,000 
 
 3,200,000 
 
 4,200,000 
 
 160,000 
 
 128,000 
 
 126,000 
 
 There is alfo paid to the company, under the name of charges of 
 management, the fum of 1,687/. 'ios, per annum. 
 
 Thus it appears that the loans to government, and the fl;ock of the 
 company, differ to the amount of 200,000/. of capital ; and that the 
 
 -; i dividend
 
 OF THE BRITISH EMPIRE. 251 
 
 dividend exceeds the interefi: paid by the public, in no Icfs a fum than 
 ig^^ooo I. per aunum. In addition to the confufion which neceflarily 
 refults from thefe circumftances, it is to be obferved, that a fund known 
 under the name of the 3/^r cent. India annuities is fometimes, though 
 erroneoufly, included in accounts which are pubUfhed of our national 
 debt. In facfl the company, having lent their fubfcriptions to go- 
 vernment, could not carry on an extenfive commerce to the Eaft, 
 without the liberty of borrowing money for that purpofe. The fums 
 they were permitted to raife amount in all to three millions, for 
 which they pay an intereft of 3 per cent, but with which the public has ' 
 no connexion. 
 
 The charter of the India company being on the eve of expiring, 
 parliament will naturally take into its confideration, before that period 
 arrives, the propriety of renewing fhat exclufive privilege to the com- 
 pany, or what other meafures ought to be adopted, in order to im- 
 prove to the utmoft a refource of fuch magnitude and importance. 
 
 The value of our India commerce will appear from the following 
 ftatements : 
 
 ACCOUNT of the GOODS fold by the Eafl India Company 
 from the ift-of March 1788, to the ill of March 1789. 
 
 Tea 
 
 Bengal piece goods 
 
 Coaft and Surat piece goods 
 
 Bengal raw filk 
 
 China ditto 
 
 Saltpetre and redwood 
 
 Pepper 
 
 Coffee and drugs 
 
 China ware 
 
 Nankeen cloth 
 
 - 
 
 £ 
 
 2,202,520 
 
 - 
 
 
 987,010 
 
 - 
 
 
 222,520 
 
 - 
 
 
 221,890 
 
 - 
 
 
 304,800 
 
 - 
 
 
 1 1 ,400 
 
 - 
 
 
 118,860 
 
 - 
 
 
 70,120 
 
 - 
 
 
 24,780 
 
 - 
 
 £ 
 
 2,600 
 
 Carried over 
 
 4,256,500 
 
 Kk 2
 
 352 HISTORY OF THE PUBLIC REVENUE 
 
 Brought over £ 4,256,500 
 
 PRIVATE TRADE GOODS. 
 
 ' Teas - - ^ i59>8-io 
 
 Piece goods - - 402,740 
 
 Bengal raw filk - - 26,050 
 
 China ware - - 6,460 
 
 Drugs, Is'c. l^c. - - 215,440 
 
 810,510 
 
 jC 5.067,010 
 
 To Vv^hich there is to be added the value of Enghfh property remitted 
 from the Eaft through foreign companies, which varies from half a 
 million to a million Jrer atinum, 
 
 ACCOUNT of the EXPORTS to the Eaft Indies for Seafon 1788-9, 
 in fo far as the fame can be made up. 
 
 Exports by the company in goods, about - ^ 800,000 
 
 Bullion exported by the company - 520,000 
 Exports by private traders cannot well be afcer- 
 
 tained, but will at leaft amount to - 600,000 
 
 ^ 1,920,000 
 
 But thefe are not the only points of view in which the importance 
 of our commerce and poflefTions in the Eaft can be proved. The 
 cuftoms paid laft year amounted to 633,000/. : the duties on tea, at 
 the rate of 12 [ per ce?it. produced 313,000/. more: and at the com- 
 mencement of the year 1789 the India company had abroad in their 
 fervice fixty-one fhips, containing 29,884 tons of chartered tonnage, 
 manned by 6309 feamen, mounting 1580 guns; and the freight of 
 which, at an average of 22 fioo I. per (hip, amounted to 1,342,000/. 
 
 "When in addition to this it is confidered, that we are in pofleffion of 
 territories and fettlements in the Eaft, inhabited by many millions of 
 induftrious fubjedts, whofe happinefs we are bound to promote, and 
 
 who
 
 OF THE BRITISH EMPIRE. 253 
 
 who will amply repay us for every care that we can poffibly beftow 
 upon them ; it may be expeded that more attention will be paid to a 
 bulinefs of fuch magnitude than has hitherto taken place ; and that fonie 
 plan will be formed for that purpofe, better entitled to the approbation 
 of a wife and intelligent nation, than a fyftem full of complication and 
 abfurdity. 
 
 Some account has already been given of the origin of the South South Sea 
 Sea Company, and of the famous fcheme projecTted by that corpora- "'"?='")'• 
 tion for the purpofe of diminifhing and paying off the national debt^ 
 From the difficulties in which the company were involved, fo many 
 ads hare been pafled upon the fubjedl, that to trace its progrefs with 
 minutenefs would be niore tedious than ufeful ; and the reader will 
 probably be fatisfied with a fhort ftatement of its fituation at this time\ 
 
 It was in the year 1733 that what is now called the trading flock of 
 the South Sea Company was originally divided from its other funds, 
 and finally afcertained : it amounts to 3,662,784/. 8j-. 6\d\ But the 
 only trade in which the company is now engaged, is that of ma- 
 naging certain annuities payable at the South Sea houfe, for which it 
 receives annually the fum of 15,051/. 17/. ^d'^. In confequence of 
 that circumftance, though the company receives on its trading ftock 
 but 1^ per cent, from the public, or 109,884/. it divides at the rate of 
 2)\ pcf cent, or 128,197/. gj. \ d. This circumftance alfo tends to pro- 
 duce fome confufion in our public accounts. 
 
 In regard to the annuities payable at the South Sea houfe, their na- 
 ture and amount will be afterwards ftated. 
 
 Such are the fums due to the different trading companies.. We ihall 
 next proceed to ftate the amount of the debts owing by the public to 
 individuals, who receive their annuities merely without any other ad- 
 vantage. Thefe annuities, in fo far as they are perpetual, are put 
 
 ^ See part ii. p. 69, and loi. 
 
 '' In Poftlethwayt's Hiftory of the Public Revenue, p. 310, 311, i^c. there is an hif- 
 torical ftate of the South Sea copipany to the year 1753, which takes up nine pages in 
 folio. In the fame work there are fimilar accounts of the Banic and of the Eaft India 
 company. 
 
 ' See 6 Geo. II. cap. 28. The trading ftock in that a£t was erroneoufly calculated. 
 
 '' Anno 1786 the charges of management amounted to 15,101/. i8i. %d. but were re- 
 duced to the above fum anno 1787. 
 
 either
 
 254 HISTORY OF THE PUBLIC REVENUE 
 
 either under the management of the Bank, or of the South Sea com- 
 pany. 
 
 Bank annul- The annuities payable at the Bank are either at the rate of 3, of 4, 
 
 "^^' or of 5 per cent. 
 
 3 per cents. Of thefe, the fund known under the name of the 3 /<fr cent, con- 
 f )Udated annuities is by far the moft confiderable, amounting to the 
 enormous fum of 107,399,696/. $s. \\d. of capital, bearing an an- 
 nual intereft of 3,221,990/. lyx. ^d.\ and requiring 47,91 1 /. 7/. 3^/. 
 per annum for the very charges of management. When this fund was 
 firft confolidated in the year 1751, it amounted only to 9,137,821/. 
 5 J. iid\ Anno 1774 the capital was increafed to 38,676,196/. 
 ^s. lid. In the courfe of the American war it fwelled to its prefent 
 magnitude, partly by real loans, for which value was received ; and 
 partly by adding an artificial capital, for which no purchafe money was 
 given. The miferable confequences of fuch a fyftem, which renders 
 our public debts more confufed, unmanageable, expenfive, and alarm- 
 ing, need not be dwelt upon "". 
 
 The 3 per cent, reduced annuities, fo called becaufe they formerly 
 bore a higher intereft, is the next fund to be mentioned, the principal 
 of which amounts to 37,340,073/. 16s. \d. and the annual intereft to 
 1,1203202/. 4J-. 3 J. As the intereft of this and the preceding fund is 
 the flune, it might have been adviiable to have joined them together ; 
 the idea of reduced annuities not being very popular, did not the in- 
 terefts of the two funds become due at different periods ; the 3 per 
 cent, confol. being paid half yearly, on the 5th of January, and on 
 the 5th of July; the 3 ^(?r cents, reduced on the 5th of April, and the 
 loth of Odlober. This divifion renders it lefs neceflary to colledt fuch 
 large fums of money at once into the Bank, or the Exchequer, as 
 might otherwife be required. Had thefe funds indeed been payable at 
 the fame time, it might have proved on fome occafions inconvenient to 
 the general circulation of the country ". 
 
 Another 
 
 ' See Aflinnore's Analyfis of the feveral Bank annuities, p. 7. 
 
 ■= The Bank is allowed 450/. per million for the charges of management ; at which rate 
 40 millions of artificial capital cofts us 18,000/. per annum. 
 
 " The payment of the dividends on the whole capitals at the Bank, the South Sea houfe, 
 and the India houfe, is about 9,700,000/. of which about 4,900,000/. is payable on the 
 
 Sth
 
 OF THE BRITISH EMPIRE. 255 
 
 Another 3 /^r cent, fund, under the management of tlie bank, is 
 known by the name of the 3 per cents. 1726, at which time they were 
 firft created. The loan was made that year in order to difcharge certain 
 civil lift debts contradled in the reign of George the Firft. The an- 
 nual intereft and charges on this fund amount to 30,450/. It might 
 in fome degree prevent confufion, and might perhaps diminifti even 
 the expence of our public incumbrances, if this fum were confoli- 
 dated with fome of the other funds. Though borrowed to difcharge 
 the debts of the civil lift, and though the intereft is paid by the lix- 
 penny duty on places and penfions, yet it fliould be included amongft 
 our national debts, as much as any other part of our burdens. 
 
 The /if. per cent. Bank annuities amount to 32,750,000/. bearing an 4 per cents, 
 intereft of 1,310,000/. payable half yearly on the 5th of April and 
 loth of Odober. The whole of this fund has been created fince the 
 year 1776°; and no bargain was entered into with the public creditors, 
 which prevents either the repayment of the principal, or a redudion 
 of intereft, whenever the public is enabled to carry into efietl either of 
 thefe meafures. 
 
 The capital of the ^ per cents, amounts to 17,869,993/. gx. lod. 5 per cents. 
 This fund was eftabliftied in the years 1784 and 1785, for the purpofe 
 of fatisfying certain navy, vidualling, and tranfport bills, and ordnance 
 debentures due and unfunded at the end of the American war". The 
 creation of this fund was one of thofe hafty and ill-advifed meafures 
 into which the prefent chancellor of the exchequer was betrayed by his 
 inexperience in fuch matters ; and indeed the plan that he had origi- 
 nally propofed, he himfelf was obliged to alter. The profpect of re- 
 deeming this fund, or at leaft of dimlnifhing the intereft, is very 
 remote, depending upon a previous purchafe of twenty-five millions 
 of 3, or of j!^ per cent, ftock: whereas had they been confolidated with 
 the 4 per cents, which had been previoully eftablifhed, the public cre- 
 ditors would have confented to better terms than could have been ex- 
 
 5th of January, and 5th of July; and 4,800,000/. on the 5th of April, and loth of 
 Oflober, making about 2,400,000/. per quarter. 
 
 " The firft creation was 5,500,000/. raifed for the fervice of the year 1777, by 
 17 Geo. III. cap. 46. 
 
 p By 24 Geo. III. cap. 39. and 25 Geo. III. cap. 32. 
 
 3 peded,
 
 236 HISTORY OF THE PUBLIC REVENUE 
 
 pcded, when a new fund was propofed to them of which they had no 
 experience. 
 South Sea The annuities under the management of the South Sea company 
 
 annuities. ^^^^. ^j-^jformly the fame intereft, namely, 3 per cent. They are di- 
 vided however into three branches : the old South Sea annuities, 
 amounting to 1 1,907,470/. ^s. yd. bearing an intereft of 357,224/. 2J. 
 payable half yearly, on the 5th of April and loth of Odober. The 
 new South Sea annuities amount to 8,494,8 30/- 2 j. lod. and the in- 
 tereft thereon being 254,844/. 18 J. id. is payable on the 5th of 
 January and 5th of July : to which there is to be added the fum of 
 1,919,600/. funded anno 1751, the intereft on which being 57,580/. is 
 payable at the fame time. 
 
 This concludes the formidable catalogue of perpetual funds, to which 
 this country is at prefent fubjeft. 
 2. Tempo- The temporary annuities are, Firft, Thofe granted for life. Se- 
 
 rajy annul- ^oudly, For a definite term of years. They are payable either at the 
 
 Bank, or at the Exchequer. 
 Bank lift an- The annuities payable on lives at the Bank, amounted on the 5th of 
 nuities. January 1788 to the fum of 67,296/. lis. y d. per annum. As a very 
 
 large proportion of this fum was granted in the reign of George the 
 Second, it is probable that they will very rapidly decreafe : but the 
 annuities which fall in are very properly afhgned to the commiflioners 
 for reducing the national debt, in addition to the annual million appro- 
 priated for that purpofe. 
 lankfliort In the years 1778 and 1779 certain annuities were granted for fhort 
 
 periods, ending on the 5th January 1808": they amount in all to 
 404,331/. 8 J. ^d. per annum .^ and coft 5,685/. i8j. ^d. for charges of 
 management. However agreeable the profpe£t may be of getting foon 
 free of fuch an incumbrance, there is reafon to believe that lefs value 
 is paid for fuch annuities than for thofe of a more permanent nature. 
 l^f)Q>Q)l. per atiniim of fhort annuities, which expired on the 5th of 
 April 1787, inftead of being extinguiftied, are placed to the account of 
 the commiflioners appointed for the redudlion of the national debt. 
 
 ' See 18 Geo. Ill, cap. 22. and 19 Geo. III. cap. 18. 
 
 The 
 
 aanuiues.
 
 OF THE BRITISH EMPIRE. 
 
 257 
 
 The moft important branch of the temporary annuities, amounting Bank long 
 to 680,375/. per anntcm, unfortunately continue till the 5th of Ja- ^°'^'"""- 
 nuary i860. The profpe<5t of their termination is fo very remote, 
 that we muft confitler them as almoft equal to permanent annuities ; 
 and were an unalienable fyftem adopted for reducing the national debt, 
 little doubt can be entertained that both long and fhort annuities are on 
 the whole the mod exceptionable and pernicious modes of borrowing 
 money ; and indeed that it would be better to convert our prefent 
 temporary into perpetual annuities, than to continue them on their 
 prefent footing. 
 
 The only fums payable at the exchequer are certain annuities Exchequer 
 granted in the reigns of King "William and Queen Anne, amounting ties, 
 in all to 139,399/. 4J-. 2>d. pc?- antmm, which end at different periods, 
 prior to, or at Lady-day 1808. Some life annuities were payable at the 
 lame place, but they have fince expired'. 
 
 Such is the general nature of owx funded incumbrances. 
 
 long annul- 
 
 2. UNFUNDED DEBT. 
 
 The progrefs of public credit is flow and gradual. At firfl:, when a 
 nation borrows, it is under the neceffity of providing a fund for de- 
 fraying not only the intereft, but the principal of its debts. The cre- 
 ditor is afterwards perfeftly fatisfied if he is fecured in the pundtual 
 payment of the intereft, knowing well that his capital will at any time 
 fetch an adequate value in the market : and in procefs of time he is 
 contented without any fixed fecurity, either for his principal or intereft, 
 
 ' The particular terms at which thefe annuities drop will appear from the following 
 account : 
 
 NatuK of th« Ftinil. 
 
 Annuities on |ths 9^. excife 
 
 p on 99 years excife 
 
 . on 3,700/. per week excife 
 
 I. Anno 1706 
 
 1707 
 
 1708 
 
 — Ditto 
 
 Annual Sum paid, and 
 Charges of" Manaiemeut. 
 
 L 6,515 
 
 49'7iS 
 
 24w24- 
 8,152 
 4,918 
 
 »o.597 
 
 12 
 2 
 6 
 
 II 
 2 
 
 12 
 5 
 
 o 
 6 
 8 
 6 
 2 
 
 7 
 3' 
 
 Period when they expire. 
 
 1 0th Oflober 1790. 
 
 25th January 1792. 
 
 5th April 1803. 
 
 — Ditto 
 
 — Ditto 
 
 — Ditto 
 5th July 
 
 1805. 
 1806. 
 1807. 
 1807. 
 
 Part III. 
 
 L I 
 
 excepting
 
 2^S HISTORY OF THE PUBLIC REVENUE 
 
 excepting the general faith, and credit of the public. In this manner 
 the unfunded debt of the nation has arifen. At prefent it confiRs of 
 exchequer bills, of bills granted by the navy and vidlualling boards, 
 and of various claims and other puMic expences, which arc not yet li- 
 quidated or afcertaincd. 
 Exchequer -pj^g origin of exchequer bills is an important circumftance in the 
 
 financial hiilory of this country. 
 
 At the clofe of the year 1696 the national credit was at its loweft 
 ebb; infomuch that on the very firft day that parliament aflembled, the 
 houfe found it neceflary to reiblve, that it would not alter the ftandard 
 of gold or fdver, in regard to finenefs, weight, or denomination; and 
 that the houfe would make good all parliamentary funds fmce his ma- 
 jefty's acceflion to the crown'. 
 
 Thefe declarations however had not the effed: that was expeded 
 from them. The vaft load of debt which had been accumulated ter- 
 rified the public : the circulation of the country was greatly impeded, 
 in confequence of the fpecie having been called in to be recoined : 
 half the fupplies, granted for the fervice of the year 1696, had proved 
 deficient: a projed, known under the name of the land bank, had 
 failed : in fhort, ftronger fteps were neceflary to quiet the minds of 
 thofe who were concerned in the funds, and to reftore th^ credit of the 
 exchequer. The commons therefore refolved on the 20th of No- 
 vember, that the fupplies for carrying on the war for the year 1697, 
 be raifed by fuch aids and duties as will a.nfwer and produce the fame 
 ■within the year "^ ; having no profpecl that any loans, for a longer time 
 could be made. 
 
 It was foon perceived, however, that fuch meafures were more eafily 
 refolved than executed : but neceflity being the parent of invention, it 
 was at laft propofed, in order to remedy the fcarcity of fpecie, that 
 bills or tickets fhould be iffued by the exchequer, upon the credit of 
 the fupplies granted for the year, which it was expedled would anfwer 
 equally with money, as they were to be received in all payments to 
 the exchequer. After fome obftrudlions, arifing from the novelty of 
 
 - Refolutions 20th of October 1696. Commons Joutnals, vol. xii. p. 567. 
 ' Conitnons Journals,, vol. xii. p. 590^ 
 
 the
 
 OF THE BRITISH EMPIRE. 259 
 
 the plan, and the oppofition of thofe who expeded to gain by the pub- 
 lic neceffities, the credit of thefe bills became at laft confirmed, and 
 have fince proved a very ufeful refource to the public ". 
 
 The amount of exchequer bills Handing out at this time is as 
 follows : 
 
 Princrpal. Annual Intereft. 
 
 ^ 2,500,000 at 3/<?r cent. - - ^ 75,000 
 
 1,000,000 2)^ per cent, - -■ 32,500 
 
 2,000,000 3/. 16 s. per cent. - - 66,480 
 
 ^5,500,000 Total /■ 173,980 
 
 There are however various charges upon thefe bills ; infomuch that 
 though they are iflued only when they are wanted, and though the 
 intereft is only paid when they are actually in circulation, yet the in- 
 tereft and charges in the courfe of the year 178 8 amounted to 
 181,419/. 6j-. loi^. 
 
 The debt of the navy arifes from purchafes made under the direction Navy bills, 
 and authority of the board of admiralty, in addition to the ordinary 
 eftablifhment, and the extraordinary eftimates voted by parliament. 
 It is certain that fucb a mode of incurring a debt cannot be too loudly 
 reprobated ; for fuch bills being iflued in payment of contrads by the 
 navy, vidtualling, and ordnance boards, they have it thus in their 
 power to entail a load upon the public, wiih hardly any control. 
 
 The time of payment being uncertain (as the money is neither 
 voted, nor the contradl fandlioned by parliament), the contingency is 
 always eftimated greatly to the difadvantage of the public : for the con- 
 tractor' mufi: not only have a profit upon the goods that he furnilhes, 
 but muft alfo demand a price for them in proportion to the rifque he 
 rims of lofing by the irregularity of the payment. 
 
 By the prefent mode, the difcount at the time is added to the real 
 fum due to the contradlor. Thus if the difcount is i^ per cent, he re- 
 
 " Exchequer bills are firfl: mentioned in 8 and 9 \V. III. cap. 6. : but it was by cap. 20 
 of that feiTlon,claufe 63, that they were direfled to be taken in all pa} men ts at the exchequer, 
 which rendered them of more general ufe, as well for the occafions of war, as for com- 
 merce and circulation. 
 
 L 1 2 ceives ,
 
 iSo HISTORY OF THE PUBLIC REVENUE 
 
 celves for every eighty-Hve pounds a navy bill for a hundred, bearing 
 intereft after fix months at the rate of /Si^ per cent. The difcount is 
 partly antecedent payment of intereft ; for the intereft, though it 
 becomes due in fix months, is never paid but vi^ith the capital ; and 
 thus the public pays accumulated intereft for the goods which it 
 purchafes. 
 
 Nor is this all ; for when the navy bills come to be paid off, money 
 muft be borrowed for that purpofe according to the current price of 
 ftocks at the time. That price a great unfunded debt neceflarily keeps 
 down ; for the value of ftocks is principally preferved by jobbers in the 
 alley, who are always buying and felling, and keeping the funds ia 
 pt;ipetual circulation. But an unfunded debt, particularly when it is 
 coafiderable, is a much better fubjed to fpeculate on than permanent 
 ftock, whofe value is lefs fubjedl to great and fudden fludluations. 
 The confequence is, that fpeculation is principally confined to the pur- 
 chafe of navy bills, and the funds are left to be in a great meafure 
 fupported by thofe who buy with a view of holding permanent pro- 
 perty in them. Hence their price neceflarily diminiihes : the public 
 borrows at the rate of that diminifhed price, and thus fuffers another 
 material lofs, by contrading a naval debt. 
 
 Befides, if the officers, or board, w^ho contrad In the name of the 
 public, could give either money, or fuch fecurities as might be dlfpofed 
 of at market without any material difcount, goods could be pur- 
 chafed on much more advantageous terms than is ufual at prefent. 
 
 Inftead therefore of perfevering in fo pernicious a fyftem, it might 
 ' be advifable for the minifter to apply to parliament for liberty to ifllie 
 a certain' quantity of what might be called ?javal exchequer bills^ bearing 
 an intereft of \per cent, to be paid half yearly at the exchequer. The 
 credit of fuch bills could never be greatly affeded, and little difficulty 
 would be found in converting them into a /^per cent, ftock, whenever 
 funds could be provided for that purpofe". 
 
 ^ Any plan of that nature to be adopted, fliould commence in time of peace, fo that 
 the public may be accuftomed to the idea, before a v/ar breaics out. Such a plan would 
 have faved, in the courfe of the lad war, many millions of real debt, or of artificial 
 capital.. 
 
 The
 
 OF THE BRITISH EMPIRE. «6> 
 
 The reader perhaps may wlfh to have a fhort view of the progrefs of 
 the navy debt from the year 1750, as it completely refutes an affertion, 
 that a large debt of that nature is unavoidable. 
 
 DEBT of the NAVY. 
 
 31ft of December 1750 - » ;C '>7''^>923 
 
 1 75 1 - - -■ 1,675,792 
 
 1752 - - 944>9°i 
 
 1753 - - 1,132,106 
 
 1754 - - 1,296,567 
 
 1755 - - . 1,978,070 
 
 1756 - - 2,238,009 
 
 1757 - - 3,462,967 
 
 1758 - - - 4.575,428 
 
 1759 - - 5.391,830 
 
 1760 _ _ - 5,228,695 
 
 1 76 1 - - 5,607,001 
 
 1762 - - -. 5,929,124 
 
 1763 - - 4,046,898 
 
 1764 - - - 3,926,915 
 
 1765 - - 2,484,595 
 
 1766 - - 1,456,924 
 
 1767 - - - 1,213,072 
 
 1768 - - 1,339,158 
 
 1769 - - 1,082,846 
 
 1770 - - - 1,497,454 
 X771 - - 1,195,409 
 
 1772 - - 1,535,382 
 
 1773 - - - 1,886,760 
 
 1774 - - 1,886,100 
 
 1775 - - 2,698,579 
 
 1776 - - 3,624,420 
 
 1777 " - 4,003,573 
 
 1778 - - - 5,175,607 
 
 1779 - - 8,357,877
 
 ^62 HISTORY OF THE PUBLIC REVENUE 
 
 31ft of December 1780 - - io,372;628 
 
 1781 - - 11,318,450 
 
 1782 - - 13,238,140 
 
 1783 - - 14,721,693 
 
 1784 -. - - 10,792,886 
 
 1785 - - 1,712,489 
 
 1786 - - 1,608,208 
 
 1787 -. - - 1,892,650 
 
 1788 - : - 2,216,651 
 
 1789 (5th January) - 2,251,079 
 
 1 
 
 Whoever confiders the above ftatement, and the aflonifhing increafe 
 ill the extraordinaries of the army, muft fee how rapidly expences are 
 apt to fwell which may be contracted without check, and to which there 
 is no bound or latitude. 
 Unliquidated The remainder of the unfunded debt cannot be eftimated at lefs than 
 claims. three millions. It will require' confiderable fums of money before the 
 
 navy, the army, and the- ordnance, can be reduced even to the peace 
 eftablifliment whick the prefent minifter has propofed ; and all extra- 
 ordinary expences beyond that eftablifhment may be confidered as 
 unfunded debt. The American lojalifts have ftill a confiderable fum 
 of money to receive from the exchequer of this country : the taxes laft 
 year, have proved deficient, whilft from the fituation of affairs on the 
 continent fome extraordinary expences are necelTarily incurred. From 
 thefe three millions, however, the million borrowed this year upon a ton- 
 tine is to be deducted ^ 
 Land and It IS certain that a number of exchequer bills, ifiued on the credit of 
 
 malt exche- ^ ^^^^ ^^^^ j^^jj. taxcs, remain undifcharged much longer than they 
 
 quer bills. . . 
 
 ought to do. The deficiency that is annually voted on that account, is 
 not of the taxes on land and" malt for the year immediately preceding, 
 but of two years flanding. The fum due on that account varies : but 
 
 y The intereft due on thefe bills on the 5tk of January 1789, amounted to 33,229/. 
 17 J. id. 
 
 ^ In regard to the fliort annuities of 1789, they are not ftated in the account of our 
 iJebts, as the money is lent, and there is every reafon to expedl its being repaid, . 
 
 9 it
 
 OF THE BRITISH EMPIRE. 2^3' 
 
 It IS well known that the exchequer bills remaining undifcharged on the 
 land-tax for the years 1787 and 1788, and of the malt-tax for the 
 year 1788, amounted, on the 9th of June 1789, to 2,129,000/. As 
 this deficiency, however, by proper attention in colle<3:ing thefe taxes, 
 and tranfmitting them to the exchequer, might be remedied in a great 
 degree, it caimot properly be included among our public debts. 
 
 We fhall now proceed to give fome general ftatements of the national 
 incumbrances, in five feparate accounts ; the firft, containing the prin- 
 cipal ; the fecond, the intereft ; the third, the expences of management ; 
 the fourth, the prefent value ; and the laft, a view of the whole debt,, 
 whether funded or unfunded, in regard to capital, value, intereft, and 
 charges. 
 
 I. ACCOUNT of the PRINCIPAL SUMS due by the PUBLIC. 
 
 I. Due TO Corporations. 
 
 1. Permanent loans due to the Bank of Eng- 
 
 land _ _ - _ £11,686,^00 o o 
 
 2. Due to the Eaft India Company - 4,200,000 o o 
 -3.. Due to the South Sea Company - 3,662,784 8 6 
 
 ^i9'549>i84 8 6 
 
 2. Due to Individuals. 
 
 l» The fund called ^per 
 cent, confolidated an- 
 nuities - ;^ 107,399,696 5 il. 
 
 2. The 3 per cent, re- 
 duced annuities 37)34Oj073 16 4 
 
 3. The 3^<?r fc;;//. 1726 1,000,000 o o 
 
 4. The /\.per cent, bank 
 
 annuities - 32,750,000 o o 
 
 5. The 5 per cent, bank 
 
 annuities - 17,869,993 9 10 
 
 Carried over Z" i96,3i9>763 " 3.t i9»549>iS4 8 6
 
 264 HISTORY OF THE PUBLIC REVENUE 
 
 Broughtover /" i96,3J9>7<53- ^ i 3t i9»549.^84 8 6 
 
 6. The old S. S. 3 per 
 
 ff»/. annuities 11,907,470 2 7 
 
 7. The new S, S. annui- 
 ties - - 8,494,830 2 10 
 
 8.- The 3 ^^r fi?;?/. an- 
 nuities, 175 1 .1,919,600 o o 
 
 — 218,681,663 16 8i 
 
 Funded debt ;^ 238,230,848 5 2* 
 3. Unfunded Debt. 
 
 1. Exchequer bills - ^^ 5,500,000 
 
 2. Navy bills - 2,251,079 
 
 3. Unliquidated claims, dedud- » 
 
 ing the tontine of 1789 2,000,000 
 
 9,751,079 o o 
 
 Total capital of the national debt /" 247,981,927 5 2i- 
 
 In the above account, no capital is Hated as arifing from any temporary 
 annuity, which in fadl is irredeemable, and confequently the interefl: to 
 be paid is the only point to be confidered. Befides, the furplus of ca- 
 pital in the 3/^r cents, compenfates for the want of capital in regard to 
 the temporary annuities. 
 
 II. ACCOUNT of the INTEREST due by the PUBLIC on 
 its DEBTS, perpetual or temporary, funded or unfunded. 
 
 I. Funded Perpetual Annuities. 
 
 1. To Corporations. 
 
 1. To the Bank of Eng- 
 land - - £, 352,502 3 5 
 
 2. To the Eaft India 
 
 Company - 126,000 o o 
 
 3. To the South Sea 
 
 Company - 109,883 10 7 
 
 Carried forward - ■- /* 588,385 14 o
 
 OF THE BRITISH EMPIRE. aS^ 
 
 Brought forward £ S^^f3^5 '4 o 
 
 2. To Individuals. 
 
 1. Intereft on the 3 per 
 cent, confolidated an- 
 nuities - j^ 3,221,990 17 9 
 
 2. Intereft on the 3 per 
 
 c^?/A reduced annuities 1,120,202 4 3 
 
 3. Intereft on the 3 /^r 
 
 ffw/x. 1726 - 30,000 o o 
 
 4. Intereft on the 4 /(?r 
 
 f £■/?/. annuities - 1,310,000 o o 
 
 5. Intereft on the 5 per 
 
 cent, annuities - 893,499 13 5I 
 
 6. Intereft on the 3 /^r 
 
 f ^7//. old S. S. annuities 357,224 2 o 
 
 7. Intereft on the 3 per 
 cent, new S. S. annu- 
 ities - - 254,844 18 I 
 
 8. Intereft on the 3 per 
 
 cents. 1751 - 57»588 o o 
 
 7.245,349 15 6f 
 
 2. Funded Temporary Annuities. 
 
 :i. Bank Ufe annuities ;^ 67,296 11 7 
 
 2. Bank Ihort annuities 404,331 8 5 
 
 3. Bank long annuities 686,375 o o 
 
 4. Exchequer long an- 
 nuities - i39>399 4 8 
 
 5^ Tontine of 1 789 - 45,000 o o 
 
 6. Expired fhort annui- 
 ties afligned to the 
 commiffioners for pay- 
 ing off the national 
 debt - - 25,000 o o 
 
 1,361,402 4 8 
 
 Carried over £.%^9S^2>1 14 2| 
 
 Part III. M m
 
 ^6$ HISTORY OF THE PUBLIC REVENUE 
 
 Brought over ;^9>i95>i37 H ^^ 
 
 3. Unfunded Debt. 
 
 1. Exchequer bills - £ ^73^9^° 
 
 2. Navy bills and unliquidated 
 claims, when funded, will re- 
 quire at leaft - - 100,000 
 
 273,980 o o- 
 
 Total ;^ 9,469,117 14 2f 
 
 ITT. ACCOUNT of the CHARGES of MANAGEMENT, and other 
 EXPENCES paid on account of the NATIONAL DEBT. 
 
 1. To the Bank of England on its capital 
 
 2. To the Eaft India Company 
 
 3. To the South Sea Company on their capital * 
 
 4. On the 3 per cent, confolidated annuities 
 
 5. On the 3 per cent, reduced annuities 
 
 6. On the 3 per cents. 1726 
 "J. On the 4 per cent, bank annuities - 
 
 8. On the 5 per cent, bank annuities ^■ 
 
 9. On the 3 per cent, old S". S. annuities 
 
 10. On the 3 per cent, new ditto 
 
 11. On the 3 /^r r^;7/j-. 1751 
 
 12. On the bank fliort annuities '' 
 
 13. On the bank long annuities •^ 
 
 14. Exchequer long annuities 
 
 15. Expence of renewing the exchequer bills 
 
 Total expence of managemeRt jC i3°»968 6 11 
 Exchequer fees on bank annuities ^19,682 3 8 
 Ditto onthe 3/<?r ff«/j. 1751 984 9 4 
 
 ■ 20,666 13 o 
 
 £ 5,898 
 
 3 
 
 5 
 
 1,687 
 
 10 
 
 
 
 47,9' I 
 
 7 
 
 3 
 
 H,737 
 
 10 
 
 
 
 450 
 
 
 
 
 
 14,737 
 
 10 
 
 
 
 8,041 
 
 9 
 
 1 1 
 
 (14,022 
 
 3 
 
 2. 
 
 1,029 
 
 14 
 
 3 
 
 4,548 
 
 H 
 
 6i 
 
 7,^54 
 
 4 
 
 4i 
 
 5-,25o 
 
 
 
 
 
 5,000 
 
 
 
 
 
 Total ^151,634 19 II 
 
 * The South Sea Company receive the fum of 14,022/. 31. %d. per annum, in full of the 
 charges of management of all their funds, without difcrimination, ihe 2 per cents, 1751 ex- 
 cepted. 
 
 '' No expence of management is allowed.for the life annuities payable at the bank. 
 
 IV. AC-
 
 OF THE BRITISH EMPIRE. i6f 
 
 IV. ACCOUNT of the VALUE of the NATIONAL DEBT la 
 
 June 1789. 
 
 1 . The capital due to the three Companies being 
 money adually received, and at fo low an 
 intereft as 3 per cent, no difcount can be ex- 
 peded, and hence the whole fum muft be 
 ftated - - - - 
 
 2. The ^percent, confolidated annuities, at 75 
 per cent, _ - - 
 
 3. The T^ per cent, reduced ditto, j^ per cent. 
 
 4. The -^ per cents. 1726, "j^ per cent. 
 
 5. The 4 per cent, bank annuities, 95 per cent. 
 
 6. The 5 per cent, ditto, at par 
 
 7. The 3 per cent, annuities payable at the S. S. 
 houfe, 75 per cent. 
 
 8. The bank life annuities, at 6 years purchafe 
 
 9. The bank fhort annuities, at 1 3 years pur- 
 chafe . _ _ - S-P-S^^7>^1 o o 
 
 10. The bank long annuities, at 32 years pur- 
 chafe _ - _ - 14,968,250 o o 
 
 11. The tontine of 1789 - - 1,002,500 o o 
 3 2. The expired fhort annuities, 25,000/. per 
 
 onn. appropriated for the difcharge of the 
 national debt, calculating the intereft of mo- 
 ney at /^per cent. _ _ _ - 625,000 o o 
 
 13. The exchequer bills - - - 5,500,000 o o 
 
 14. The navy bills _ _ _ - 2,251,079 o o 
 
 15. Other unliquidated claims - - 2,000,000 o o 
 
 ;^ 216,557,342 3 o^ 
 
 The debt of the nation, as it now ftands, without deducing the 
 fums which have been purchafed by the commiffioners, will then be as 
 follows : 
 
 M m 3 V. GENE- 
 
 ;{• 19,559,1 84 
 
 8 
 
 61 
 
 70,549,772 
 
 3 
 
 9^ 
 
 28,005,055 
 
 7 
 
 3 
 
 750,000 
 
 
 
 
 
 31,112,500 
 
 
 
 
 
 17,869,993 
 
 9 
 
 10 
 
 16,703,925 
 
 4 
 
 I 
 
 4o3>779 
 
 9 
 
 6
 
 a6$ HISTORY OF THE PUBLIC REVENUE 
 
 V. GENERAL VIEW of the NATIONAL DEBT, 
 
 funded and unfunded. 
 
 1. Capital of the national debt - ;^ 247,981,927 5 2 
 
 2. Value of the debt in June 1789 - "216,557,342 3 oi 
 
 3. Interefl: of the debt funded and unfunded 9,469,117 14 2j 
 
 4. Charges of management and other expences 151,634 19 11 
 
 The two laft fums, joined together,make in all 9,620,752/. I4f. i|/. 
 which, according to the prefent value of the debt, is at the rate of about 
 4t per cent. The difference, between the real value and the nominal 
 capital, at this time, 1531,424,585/. 2s. lid. 
 
 Such is the general natJire and prefent ftate of our national incum- 
 brances. It will, next be proper to examine the various plans whldi 
 might have been adopted refpeding them, at the conclufion of the 
 American war. It was thcrt recommended, either to abolifh our public 
 debts by a£l of parliament; — or, to tax the funds in common with 
 other property ; — or, to enter into a new agreement with the public 
 creditors, on terms favourable to redemption ; — or to purchafe their 
 refpedive claims and interefts at their price in the market. We (hall 
 confider each of thefe in their order. 
 I. Abolition It IS alferted by a great political author, that when the debts of a 
 tionaUebt. nation have once been accumulated to a certain degree, fcarcely an in- 
 ftance can be produced- of their having been fairly and completely paid: 
 That the public revenue has been liberated, either by an avowed bank- 
 ruptcy, or by raifmg the denomination of the coin, and making a pre- 
 tended payment ". Of the former, two inflances occur in the ancient 
 hiftory of this country. Twice were the debts of Henry the Eighth of 
 England abolifhed by ad of parliament % and the king releafed from 
 
 the 
 
 * Inquiry into the Nature and Caufes of the Wealth of Nations, vol. ii. p. 563. 
 
 • Thefe ads are mentioned in Part II. chap. iii. p. 39. The firft aSt, in the 21ft year 
 of his reign, is intitled, " An A£t for the releafing unto the king fuch fums of money as he 
 was to pay to his fubjeils for any manner of loan, by letters mi/Tive, or otherwife." And 
 by afl 35 Hen. Vlll. cap. 12. " The lords and commons do remit unto the king all fuch 
 fums of money as he hath borrowed of them, or any other, by way of preft or loan, by his 
 
 privy
 
 OF THE BRITISH EMPIRE. 169 
 
 the engagements he had come under of repaying confiderable fums of 
 money borrowed by hhn. Of the latter alfo, fome examples are not 
 wanting. 
 
 But whatever might have been done above three centuries ago, under 
 the government of an arbitrary tyrant, refpedling debts contrad:ed with- 
 out parliamentary authority, the cafe is widely different in regard to our 
 prefent national incumbrances, for the fecuiity of which the faith of the 
 reprefentatives of the nation has been pledged. It is alfo to be con- 
 fidered, that the public debts have now become fo interwoven in th^e 
 very frame of our government, that the confequences of a fudden 
 extindion muft inevitably be fatal '*. There is not a fmgle individual 
 in this country who would not, fooner or later be affeded by it. If 
 one kind of property, fandioned in the moft legal manner, can thus be 
 annihilated, how can any other fpecies be pofleffed in l^\fety ? All faith 
 between man and man would thus be dillolved, the bonds of fociety 
 would be broken, and the laws of a nation could no longer continue the 
 objeds either of confidence or refped \ 
 
 Whilft, 
 
 privy feal fithence the firft day of X^nuary, ann* 33 of his reign. And if the king have 
 paid to any perfon any fum of money which he borrowed, by fale of land or otherwife, the 
 fame perfon, his heirs, executors, or adminiftrators, fhaJl repay the fame to the king. 
 And if any perfon has fold his privy feal to another, the feller fhall repay the money to the 
 buyer thereof." Thefe loans, however, were contracted without the fandion of parliament. 
 
 ■^ The fubje£l has been fo ably handled by Sir James Stewart in his Principles of Political 
 Economy, that the reader who may be defirous of inveftigating this matter to the bottom 
 will find it fully elucidated by that intelligent author. 
 
 The author of Letters on the Prefent State of England, printed anno 1772, in Letter 7, 
 controverts Sir JarfiesStewart's principles with much plaufibility of reafoning. But vre 
 truft that there will be no occafion to draw any confoiation from the arguments which he 
 alleges refpefling the confequences of facrificing the intereft oi the few to that of the many. 
 
 ' About the period of the late rebellion in 1745, the partifans of the exiled family at- 
 tempted to increafe the popularity of their caufe by hinting that it would produce that fup- 
 pofed blefung, the immediate extindion of the national debt. Dr. Bentham, in his Letter 
 to a Fellow of a College, printed at Oxford anno 1749,. fecond edition, p. 20, with confi- 
 derable force of argument, reprobates fuch an idea. " It fhould be remembered by thofe 
 " who propofe to cancel all our debts at once, by an arbitrary a6t of the legiflature, that 
 «' the proceedings made ufe oPin contra£ling them have been altogether regular and agree- 
 " able to law: That, if the adminiftrators of our public affairs have been wanting either 
 " in common fenfe or common honefty, that the creditors, at leaft, have been free from 
 »' all guilt upon the occafion, and that whoever induftrioufly fets himfelf to corrupt 
 " his principles about right and wrong with regard to one objeft, will fcarcely reftrain 
 *' the contagion from extending itfelf to others, that he, perhaps, at firit never dreamt of. 
 
 « for
 
 tAe funds. 
 
 270 HISTORY OF THE PUBLIC REVENUE 
 
 Whilft, therefore, there is any poffibility of extinguifhing the capital, 
 or of difcharging the intereft of the public debt, any deUberate, 
 avowed, and total bankruptcy, founded on fraud and violence, is fo in- 
 confiftent w^ith every principle of honour and good faith, and in fa£l is 
 fo adverfe to the real intercfts of a nation, that it can never become, 
 in this country, a matter of ferious difcuffion. 
 i. Taxing But though a public bankruptcy is almoft univerfally acknowledged to 
 
 be a meafure totally indefenfible; yet it is afferted by fome, that the ex- 
 emption from all dire£t taxation which the public creditors have fpecifi- 
 cally pledged to them, might be difpenfed with, and to a certain degree 
 annulled. An idea of this nature was thrown out at the acceffion of the 
 prefent royal family ^ The famous maxim, Sa/us populi fuprema lex^ 
 was adduced in fupport of fuch a fyftem in the year 1734, as an immu- 
 table law in every fcciety, and as fully fufficient to juftify fuch a mea- 
 fure ^ : And when the prefent minifter was fuppofed to be occupied ia 
 forming a plan for the redudlion of the national debt, ideas to that efFedt 
 were recommended to his attention ''. 
 
 In this cafe two points are to be confidered. Firfi, Would fuch a 
 meafure be wife ? Next, Would it be honourable ? 
 
 Thofe who maintain the policy of fuch a flep, found their dodtrine 
 on the idea, that all public debts are ruinous, and contend, that it would 
 have been fortunate for the nation had they never exifted. The ad- 
 vantage, however, of public debts, if kept within proper bounds, can 
 hardly be difputed. 
 
 Others imagine that public credit is not fo eafily deftroyed as is com- 
 monly imagined; that it would ftand many a fevere fhock; and that 
 
 •' For an individual who can dwell with pleafure on the thought of defrauding ftrangers, 
 •' will, in time, be little fcrupulous about injuring his neighbour or his friend." 
 
 f See 'I'he State and Condition of our Taxes confidered, or a Propofal for a Tax upon 
 Funds, (hewing the Juftice, Ufefulnefs, and Neceffity of fuch a Tax. London, printed 
 <inno 1714. Alfo Hutchifon's Works, p. 79; where he mentions the defign of a fhort 
 a6l of parliament of ten lines, for reducing at once the interefi: of the public debts : a vio- 
 lence, he adds, wliich nothing but neceffity can jultify. 
 
 s Confiderations on ihe Neceffity of Taxing the Annuities granted by Parliament, and 
 reducing One Fifth of the Capital Stock of certain Proprietors in the South Sea Company, 
 in order to pay off the National Debt.— London, printed anno 1734. 
 
 ■• See Mr. Pigot's Letters on the Neceffity and Advantage of a Taxation on the Public 
 Funds.-^London, printed ^«w* 1786. 
 
 even
 
 OF THE BRITISH EMPIRE. 271 
 
 even a bankruptcy would not prevent its reviving '. The taxes impofed 
 on the public funds of Holland are alleged as a proof how little any 
 ferious conlequences from fuch a fyftem are to be apprehended. The 
 prudent and economical government, however, which exifts in Hol- 
 land, and the confidence placed in it by the people, enable it to adopt 
 meaiures in regard to taxation, which could not be ventured on in any 
 other country. 
 
 Laftly, it is faid, lay a general tax upon property and income of every 
 defcription, the funds not excepted, and refolve, for the future, to have 
 no recourfe to public credit, hut to raife the neceflary fupplies within ■ 
 the year. And furely, if it could be proved that fuch a fyftem was 
 practicable, and that no loans would be neceflary for the future, objec- 
 tions to fuch a plan, in fo far as refpecls the policy of the meafure,: 
 would in fome degree be removed. 
 
 But if fuch a ftep is confidered in the view of national honour, and 
 not of political expediency, unlefs it is voluntarily afTented to by the 
 creditors, It is, in principle at leaft, equally unjuftifiable with a total 
 fponge. The fame authority which annuls, and the fame arguments 
 ■which juftify the compulfive abolition of any part of the capital, or of 
 the intereft of the public debts, may be extended to the whole. One 
 ftep would probably form a precedent for another of greater importance, 
 until, with the extindlion of public faith, even private virtue might be 
 annihilated. Thefe fentlments, which have lately received the general 
 approbation of the reprefentatives of a neighbouring kingdom, have 
 ever been maintained in this countiy as the firmeft bafis of its profperity 
 and power ^ 
 
 ' " So great dupes are the generality of mankind, that notwithftanding fuch a violent 
 fhock to public credit as a voluntary bankruptcy in England would occaficn, it would nor, 
 probably, be long ere credit would again revive, in as flourifhing a condition as before. 
 A prudent man, in reality, would rather lend to the public immediately after they had 
 taken a fponge to their debts, than at prefent, inafmuch as an opulent knave, even though 
 one could not force him to pay, is a preferable debtor to an honeft bankrupt." — Hume's 
 ElTay on Public Credit, (Jc. edit. 1772. vol. i. p. 377, 
 
 '' There was no part of M. Necker's fpeech to the Etats Generaux of France, which ex- 
 cited more general acclamations than his defence of public credit : " Ainfi, la bon foi, la 
 politique, le bonheur, & la puifiance, tous les principes, tous les interets enfin qui 
 touchent egalement le roi & fes peuples, viennent plaider la caufe des creanciers del'etat & 
 leur fervir de defenfe." 
 
 7 All
 
 272 HISTORY OF THE PUBLIC REVENUE 
 
 3. Entering All Tiolent and compulfive meafures, therefore, being liable to 
 inioanew weltrhtv and important obiedions, it is next to be confidered, whether 
 
 agreement o , i -j ' 
 
 with the the public ought not to endeavour to enter into fuch new agreements 
 dhort!"'' '^'^^^ its creditors as might prove favourable to the great objedt of re- 
 demption. Among other plans formed for fo beneficial a purpofe, the 
 following was drawn up by the author of this work, and tranfmltted to 
 the prefent minifter, when the bill for eftablifhing an unalienable fink- 
 ing fund was under the confideration of parliament. 
 
 The Capital of the Funded Debt was then as follows : 
 
 Stock of the three companies - - j^" 19,599,184 
 
 Three /^r rf«/. funds — - 168,061,869 
 
 [ Your per cents. - - - 32,750,000 
 
 Y\st per cents., - - - - 17,869,993 
 
 Total ;^ 238,28 1,046 
 
 'Such a load, however heavy and dreadful it may appear, ought rather 
 (o be confidered as furniiliing us with the means of amaffing a national 
 treafure more valuable than the mines of Mexico and Peru, than as a 
 burden from which we ought to difcharge ourfelves by difhoneft means. 
 
 It is evident, that the public to that amount may be fafely trufted. 
 The moft cautious ufui-er can never hefitate to lend to the government of 
 this country, to the extent, at leaft, of its prefent debt. Every fliilling, 
 therefore, dedud:ed from that fum,/.ryo much treafure gained ; and when 
 acquired in this manner, is fafer than if accumulated in public coffers^ 
 for it remains unexpofed to open violence, or to private rapacity and 
 fraud ; and, at the fame time, is equally attainable, when it becomes 
 neceflary. 
 
 There is nothing, therefore, In which the public can be more deeply 
 interefted, than in leflening this load ; and, in fadl, the diminution of 
 our debts is, in this light, of more importance than as furnifhing us 
 with the means, according to the common idea, of abolifhing the taxes, 
 and confequently removing the burdens by which the induftry of the 
 nation is fiippofed to be obftruded. That objed is certainly material ; 
 ' iut it is I'urely of more importance, by judicious meafures, and by calling 
 
 forth
 
 OF THE BRITISH EMPIRE. 173 
 
 forth the pubHc fpirit and exertions of the people, to place our credit 
 and finances in fuch a fituation, that foreign powers, inftead of ven- 
 turing to contend with us, would find it neceflary to court our friend- 
 fliip and alliance. Such would be our fituation, were from one to two 
 hundred millions of our prefent national incumbrances fairly and 
 honourably difcharged ; for we fhould, in that cafe, have a treafure to 
 that amount for ever at our command. 
 
 The means of extinguiftiing this debt, after an annual furplus or 
 finking fund is provided for that purpofe, are two: Firft, to purchafe 
 the claims of the creditors at the price they bear in the market ; or, 
 fecondly, to bargain previoufly with the creditors on fair and equitable 
 terms, for the extin<flion of their debts. The latter plan, in every point 
 of view, feems to be preferable ; at leaft, it would be defirable to make 
 the experiment how far the public creditors would voluntarily enter 
 into any agreement of that nature, before the other meafure was 
 adopted. 
 
 The 3 per cenls. if fold at their price in the market, when the 
 unalienable finking fund was propofed in May 1786, namely, 70 per 
 vettt. would yield only 117,643,318/. and confequently there exifted at 
 that time about fifty millions of artificial capital among the burdens of 
 the public. 
 
 If the nation were to pay off all the prefent 3 per cents, at par, it 
 would give away many millions for which it received no value. For 
 when 100/. of 3 per cent, ftock was fold for fixty pounds, or at any 
 other price below par, the 3 per ctnt. funds were confidered nearly as 
 perpetual irredeemable annuities, and as fuch the capital given was held 
 to be of little confequence ; the intereft to be paid being accounted the 
 only obje<St worthy of attention. But if thofe funds are to be paid off, 
 fuch contracts can hardly be juftified. Nor would it be confident in 
 the government of the country to fuffer laws to remain in the ftatute 
 book againft private ufury, were the public to connive at fuch practices 
 in regard to itfelf. 
 
 But the moft fatal confequence refulting from paying off the 3 per 
 cents, without fuch a bargain being previoufly concluded, is this, that 
 the more they are dimitiiflied, the higher they will rife in value, and 
 
 Part III. N n confc-
 
 474 HISTORY OF THE PUBLIC REVENUE 
 
 confequently the heavier, in the view of redemption, muft the real bur- 
 den of the debt become. 
 
 It is evident, at the fame time, that to fix upon a plan acceptable to 
 a majority of the creditors, and beneficial to the public, mull be attended 
 with confiderable difficulty. 
 
 A noble lord (Earl Stanhope), who, in a tra£l he has publifhed, proves 
 how much public zeal is fuperior in his mind to private friendfhip or 
 connexion, has propofed converting the 3 into ^^ per cents. ; and another 
 veiT' ingenious writer on this fubjedl (Mr. Gale) maintains the neceflity 
 of changing them into 5 per cents. But as the plan of converting a 
 great into a fmall capital, is a new projedt, never formerly attempted, 
 it cannot be foretold, with any degree of certainty, whether either of 
 thefe ideas would fucceed to any extent. 
 
 The prejudices of mankind unfortunately feem to run counter to 
 fuch a converfion. It is well known that the 3 per cents, for the inte- 
 reft they yield, always fell higher in proportion than the 4 per cents. 
 and the i^ per cents, than the 5. 
 
 A great capital, even where it is of no intri«fic value, muft always 
 have confiderable weight with monied men. The property of a landed 
 gentleman is eftimated according to the annual income he enjoys ; 
 whereas the importance of the opulent ftockholder depends on the num- 
 ber of pounds of capital that he pofTefles. The one would boaft, for 
 inftance, of having 5000/. per annunty and the other of having 
 100,000/. in the ftocks, or at his banker's. The firft, therefore, is 
 anxious to increafe his rents ; the fecond,^ to augment his capital ; and 
 both are too apt to facrifice a part of the fubftance to the appearance of 
 wealth. 
 
 The brokers, alfo, who have great weight in the alley, and great 
 property in the funds, and the bankers of the metropolis, who fhare in 
 the profits of their refpedlive brokers, are interefted to oppofe fuch a 
 converfion ; for as the profits of the broker arife from a per centage on 
 the capitals of the ftocfc transferred, if the capital is diminifhed, to that 
 extent is the advantage of the broker annihilated. 
 
 Confidering the immenfe number of public creditors, it cannot be 
 fuppofed that any one fcherae fhould meet the ideas of every individual 
 
 4 of
 
 OF THE BRITISH EMPIRE. 
 
 of which that numerous body is compofed ; and, perhaps there are fome 
 to whom a 4 per cent, or a 5 per cent, fund might be made acceptable. 
 It matters not, indeed, how many different plans are fubmitted to the 
 confideration of the public creditors, provided all of them are beneficial 
 to the public. It is apprehended, however, that iefs difficulty would 
 be found in carrying the following regulation into effedl:, than any other 
 that has hitherto been fuggefted. 
 
 The plan propofed is fhortly this : That the names of all the 3 per 
 cent, creditors confenting to this propofal, fhall be put half-yearly into a 
 ballotting box immediately after the books of the Bank and South Sea 
 Company are fhut in order to pay their refpedive dividends, and that 
 one tenth part of the ftocks ftanding in the names of the different cre- 
 ditors, fhall be paid off in the order in which they caft up, at the rate 
 of 75 per cent, until the whole fum to be paid at that period be ex- 
 hauflied '. 
 
 To this new fund all the 3 per cent, creditors fhould be invited to 
 fubfcribe in books to be opened for that purpofej and indeed, when 
 once a 3 per cent, flock, redeemable at 75, was eftablifhed, it would 
 be for the intereft of the public to convert the 4 and 5 per cents, and 
 even the temporary annuities, into 3 per cents, inflead of reverfing fucli 
 a propofition. 
 
 The advantages refulting from the plan are as follows : 
 If, in confequence of this propofition, 160,000,000/. of 3 /."r ceyits. 
 were declared redeemable at the rate of 75 per cent, the principal would 
 be virtually diminifhed one fourth^ and confequently forty millions of 
 artificial capital would be actually difcharged. 
 
 ' It was farther propofed, were it neceflary, to eflablifh a lottery, confiding of a mil- 
 lion of tickets intrinficaliy worth one guinea each, and confequently amounting in value to 
 1,050,000/. and to diftribute that fum entirely in prizes, for the benefit of the 3 per cent. 
 creditors who confented to the above regulation, giving to every creditor a ticket for every 
 160/. of 3 per cent, ftock that he fubfcribed, fubjedt to the preceding regulation. By 
 eftablifhing clafies alfo, as in the guinea lottery of 1757 {30 Geo. II. cap. 5.), the plan 
 might be calculated fo as to anfwer any number of the 3 per cent, creditors that chofe to 
 fubfcribe. But the plan, it is believed, is fo beneficial to the public creditor in itfelf, as to 
 fender any premium of that kind unneceflary. 
 
 N n 2 Another 
 
 ^75
 
 276 HISTORY OF THE PUBLIC REVENUE 
 
 Another advantage is, that the public would always be able to bor- 
 row cheaper on a 3 per cent, ftock, redeemable at 75, than by any^ 
 other means ; for the chance of being paid off one tenth part of the 
 ftock held by any individual in a fair rotation by ballot, would not 
 greatly diminifh the value of that fpecies of property. The public 
 would confequently borrow cheap, without paying dear, when its- 
 debts came to be redeemed. 
 
 A third advantage is, that this plan, beyond any other that has been 
 propofed, would render the finking fund unalienable. For, in addition- 
 to the contra£t that would thus be entered into between the creditors 
 and the public, it is to be confidered, that in time of peace, when the 
 3 per cents, might probably fell from 70 to 85, or even (^o per cent. \t 
 would then be for the intereft of the public to profecute the meafure '. ■ 
 whereas, in time of war, when the fame ftocks would probably be 
 from <)^ to 70, it would be for the advantage of the creditors to infift 
 upon payment. Indeed, there is no other means by which it would 
 uniforrnly be for the intereft of one or other of the parties concerned 
 to perfevere in a plan for diminiflaing the national debt. 
 
 Thus, by a flow and gradual operation, without any violent change 
 or convulfion whatever ", the great load of artificial debt would be 
 difcharged with advantage, or at leaft, it may fafely be afferted, with- 
 out any material lofs to any individual creditor, and, indeed, without 
 putting him to any additional trouble or inconvenience. For the public 
 creditor, at the fame time that he received his dividend, would have the 
 tenth part of his capital paid to him, if his name came up in the balloti 
 which he might immediately re-inveft in the ftocks at the current pricCj 
 if he had no occafion to difpofe of it otherwife. 
 
 "" By fome it may be contended that fuch a converfion may be juftified without applying 
 for the voluntary confent of the creditors : that, by the laws of the country, lands and 
 tenements may be taken from the proprietor without his confent, in order to make fortifi- 
 cations, and other public works for the defence and fervice of the kingdom, the current 
 price or prefent value being paid ; and it cannot be fuppofed that the funds is the only 
 fpecies of property which cannot be purchafed at its prefent value by the public, or 
 altered in its nature and form by the authority of parliament, when fuch an alteration 
 brings fecurity to the creditor, and fafety and happinefs to the nation. Any plan, how- 
 ever, of fo beneficial a nature, will probably meet with the voluntary fanclion, rather than 
 any difapprobation on the part of the creditor, particularly as he ftands exadlly in his former 
 ijktuation, if the plan does not fuccced. 
 
 There
 
 OF THE BRITISH EMPIRE. 277 
 
 There are two defcriptlons of perfons to whom thefe ideas are more 
 particularly addrefled ; thofe who are interefted for the public, and 
 thofe who care only for themfelves. 
 
 To the firft, it is almoft unneceffary to fuggeft the fatisfaiflion that 
 they muft feel from countenancing any regulation that mufl be pro- 
 dudive of fuch lafting benefits to their country. To fuch public- 
 fpirited creditors (and I hope there are many entitled to that defcrip- 
 tion) I fhould be apt to fay in the beautiful words of Shakefpear, 
 
 Be touch'd with human gentlenefs and love, 
 Forgive a moiety of the principal ; 
 Glancing an eye of pity on our lofles 
 That have of late fo huddled on our back. 
 Enough to prefs the mightieft empire down. 
 And pluck commiferation on the ftate. 
 From brafly bofoms and rough hearts of flint. 
 From ftubborn Turlcs and Tartars never train'd 
 To offices of tender courtefy. 
 
 With regard to the felfifh creditor, who attends merely to his own 
 intereft ; and, provided his annuity be paid, is indifferent by what op- 
 preflive means it is procured, there are circumftances which are well 
 entitled to his ferious refiedion. 
 
 However produdive the revenue is at prefent, events may take place 
 to render it fo very deficient, that the value of his property would bs 
 not a little diminifhed ; nay, the very payment of his annuity may 
 become precarious, and the repayment of his capital very improbable 
 indeed. 
 
 It is queftionable, whether the people at large, unlefs flattered by 
 fome profped of future relief, in confequence of a new and equitable 
 bargain with their creditors, will long be prevailed upon to bear even 
 the prefent load of taxes with patience and fubmlflion. 
 
 On the other hand, if a fair agreement were entered into, according 
 to the plan above propofed, the public might perhaps be induced to add 
 even an additional half million to the million already appropriated ; in 
 confequence of which the value of the property of the creditors would 
 be rapidly augmented, and all idea of the poffibility of a public bank- 
 ruptcy would be put an end to. 
 
 But
 
 278 HISTORY OF THE PUBLIC REVENUE 
 
 But without entering farther into thefe abftrafh fpeculations, it may- 
 be fufficient to remark, that the lofs that can poflibly be fuftained by 
 any individual ftockholder, is fo triflinp; in itfelf, and of fo very gradual 
 a nature, that it can be felt by none of them, and will be amply com- 
 penfated by the additional fecurity and certainty of repayment which 
 the plan affords. 
 
 Befides, the public creditots ought to confidcr that their annuity con- 
 tinues exa^aly the fame without the fmalleft diminution; and, in 
 regard to their capital, that there is nothing to prevent a 3 per cent. 
 ftock, redeemable at 75, to rife to 90 or 100, in the fame manner as the 
 S per cents, have lately rifen to above 1 15, though there is a probability 
 of their being redeemed at 100/. in the courfe of a few years. 
 
 To conclude, — If fuch a regulation be adopted by parliament, and 
 confented to by the creditors, the public will be encouraged with vigour 
 and alacrity to perfevere in the arduous work of difcharging the incum- 
 brances it lies under, and Great Britain may yet difplay the only fpec- 
 tacle of the kind that has yet been exhibited to the world, namely, 
 a nation burdened with a heavier load of debts and taxes than any other 
 country was ever fubjeded to, yet bravely bearing up under the load, 
 and difcharging it with honour and fidelity. 
 
 On the other hand, if no fuch converfion or regulation is carried 
 into effed, it were better for the public, inftead of expending a million 
 per annum fo ineffeftually as it mull be, if the 3 per cents, are to be 
 paid off at the price to which they will naturally rife, either to abolifh 
 unpopular and burthenfome taxes to that amount, or to lay out that 
 fum in making public roads, in forming inland navigations, in im- 
 proving our harbours, in adding to our fleet, or in plans for increafing 
 our wealth, by encouraging the induftry of the towns and the cultiva- 
 tion of the country. 
 
 Such were the fentiments entertained by the author upon this im- 
 portant fubjedl, at the time when the unalienable finking fund was 
 voted by parliament. How far they were worthy of attention, and 
 . whether the plan was preferable to the one that has been adopted, is 
 fubmitted to the reader's candid confideration. His idea, however, was, 
 that a matter of fuch confequence ought not to be brought forward by a 
 minifter, but ought to have been referred to a committee of impartial, 
 
 intelligent,
 
 OF THE BRITISH EMPIRE. 279 
 
 intelligent, and refpedtable reprefentatives of the people. In their 
 hands it would have ftood a much better chance of fuccefs, than if 
 brought forward by any individual : at leaft, there would have been no 
 wanton oppofition to it, in hopes of making the minifter unpopular, 
 and of driving him, as the parent of an obnoxious meafure, from the 
 fituation which he held. Befides, much light would be thrown upon 
 the fubje<Sl:, from fifteen men of intelligence and ability examining into 
 the (late of our debts, difcufling the queftions which might arife con- 
 cerning them, and receiving propofals for their redemption : and if 
 fuch a committee paid proper attention to every plan for the improve- 
 ment of our finances, fuggefted by any individual, whether in or out 
 of parliament ; and confulted with the moft intelligent diredors of the 
 Bank, of the South Sea and Eaft India companies, fome of the 
 greateft public creditors themfelves, the moft refpedable brokers, and 
 alfo with fuch merchants as have the greateft correfpondence with our 
 foreign creditors ; the attention of the public would have been fixed 
 upon fuch a committee, and it muft have acquired fo much popularity 
 and fuch general confidence, that no reafonable plan it could have pro- 
 pofed would have met with oppofition. 
 
 Such a plan, however, would not fuit the views of the prefent mi- 
 nifter ; anxious to monopolize the whole credit of fuch a meafure to 
 himfelf, and unwilling to facrifice the temporary applaufe of the mo- 
 ment, to the lafting advantages which his country might have reaped 
 from placing that important tranfa(Sion in the hands of individuals, 
 from whofe united experience, information, and abilities, a fyftem 
 equally advantageous to the public and to its creditors, might have been 
 expeded". 
 
 The only other plan that remains to be confidered, is that which has 4. Buying up 
 been unfortunately adopted by the prefent minifter, namely, that of [|'/[,fs"''''*^ 
 
 " It is more than probable, that the time will come when the plan above fuggefted, for 
 appointing a committee of refpeflable members to form a new agreement between the 
 public and its creditors, will be adopted. In that cafe, it might be proper to confider whe- 
 ther the creditors fhould be requefled to fign their ajfent, or their dijfent, to the plan that 
 might be propofed. Their dijfent would be the moft advifable : for in the great operation 
 carried on by Mr. Pelham, anno 1749, where the creditors were required to fubfcribe 
 their ajfcnt^ doubts were entertained refpeding the authority that many had to fubicribe ; 
 and by 27 Geo. lil. cap. 13, claufe 57, the mode of diflcnt was preferred. 
 
 buvinp
 
 280 HISTORY OF THE PUBLIC REVENUE 
 
 buying up the public debts at the price for which the creditors may chufc 
 to difpofe of them. 
 
 The lofs which the nation was likely to fuftain by this rafh, ill-advifed, 
 and impolitic meafure, was indifputably proved at the time, and is 
 realifing every day. 
 
 A noble lord, poflefled in fome degree of hereditary claims to fkill 
 and knowledge in the fcience of finance, laid open at the time with the 
 greatefl: force of reafoning, the manlfeft abfurdity of the plan ; and 
 ■after pointing out the neceflity of converting the t^ per cents, into a 
 i^fer cent, ftock, previoufly to any purchafe from the creditors, com- 
 -pares, in a paper dedicated to that particular fubjedt, the confequences 
 that would refuk from fuch a fcheme, contrafted with the one propofed 
 by Mr. Pitt'. 
 
 In the fii-ft place he ftated, that by raifing the value of the 'i^per cents. 
 from 60 to 70, without ever attempting to fix the;ir price, a fum equal 
 to 10 per ceitt. upon the whole capital of the 3 per cents, had been 
 wafted, which, if reftridled to the ftocks belonging to private individuals, 
 would amount to 16,800,000/. 
 
 Enormous however as that might appear, it was inconfiderable when 
 compared to the larger fums that the fame plan had a tendency to 
 fquander. 
 
 ■By Lord Stanhope^s fcheme, the whole national debt would have 
 'been redeemed in fixty- eight years, or on the 5th of April 1855, ^^" 
 miting the free revenue to 3,34.2,600/. /^r ««w?/ot ; and at the fame 
 time abolifhing taxes to the amount of 356,244/. on the 5th of 
 April 1815 : whereas by Mr. Pitt's plan, if fubjedl to the fame limita- 
 'tion, the debt will not be paid a moment fooner ; and the taxes, anno 
 1815, can only be reduced to the extent of i^ifi^^l. per annum. But 
 if the income for extinguifhing the national debt were to accumulate 
 without limitation, the whole debt would be extinguilhed by the noble 
 lord's plan on the 5th of April 183S, or in the fpace of fifty-one 
 years, leaving a furplus of 5,391,664/.: whereas by Mr. Pitt's plan 
 
 " See Obfervations upon Mr. Pitt's Plan for the Reduiiion of the National Debt, by 
 Charles Earl Stanhope; printed anno 1786. The noble lord is defcended from James, 
 afterwards created Earl Stanhope, who was chancellor of the Exchequer anno 1717. 
 
 28,559,118/.
 
 OF THE BRITISH EMPIRfe. 481 
 
 28,559,118/. would remain unpaid, even by the moft favourable calcu- 
 lation. Hence the lofs fuftained by the public amounts to 33,950,782/. 
 which, when joined to the 16,800,000/. already mentioned, makes a 
 total of above^^j nuUioiis thrown away by the improvidence of the 
 minifter. 
 
 Thus a plan has been adopted which neither furnillies the means 
 whereby a certain fum of money, annually applied, would redeem the 
 greateft portion of debt in the fhorteft time ; nor by which the people 
 might the fooneft be eafed of the weight of taxes ; nor by which the 
 greateft quantity of taxes and revenue would be faved at prefent ; nor 
 hy which the great-eft amount of artificial capital would be fpeedily 
 redeemed ; nor by which our enemies would be the moft deterred 
 from engaging in war with us, in confequence of the rapid progreCs 
 made in difcharging the debt during the continuance of peace ; nor, 
 iaftly, by which the finking fund is the moft likely to become una- 
 lienable. In fhort, it is a plan by which the minifter either deluded 
 himfelf or the public, and flifFered a noble opportunity to efcape of 
 reftoring our finances (which perhaps may never again prefent itfelf); 
 and which, in the emphatic words of the noble lord, inftead oi favlng^ 
 may bring ruin on the country ^ 
 
 P See Lord Stanhope's pamphlet, p. 38 and 39. It was replied to in a very plaufible 
 traS, intitled, «' A fhort Anfwer to Earl Stanhope's Obfervations on Mr. Pitt's Plan for the 
 Reduction of the National Debt." It is not propofed by the author to engage in this con- 
 troverfy, both becaufe he thinks his own plan preferable even to Lord Stanhope's, and 
 becaufe the fyftem of the noble lord, when compared to the plan that has been adopted, 
 requires no additional arguments to fupport it. It may be proper however to remark, 
 that Mr. Pitt and his friends ought not to treat with ridicule all ideas of converting the 
 3 per cents, into funds bearing a higher intereft, unlefs fuch a plan had been fairly tried, 
 ^nd rejedted by the public creditors. Indeed a judicious and experienced minifter would 
 never have harafl'ed the public with fuch a multiplicity of vexatious taxes, unlefs from the 
 certainty that it would anfwer fonre very important purpofe. The public creditors ought 
 to have been told, that the intereft or annuity pledged to them would be regularly paid ; 
 but that no meafures could be taken for increafing the value of their property, or redeeming 
 their capitals, unlefs they fliewed a difpofition to encourage the public to fuch exertions, 
 and were willing on their part to relinquifli thofe ufurious advantages which the nece/fities 
 of the times, joined to the idea that no redemption or purchafe would ever take place, 
 had occafioned. But the fad was, that the minifter could rifk nothing, for fear of lofing 
 his popularity : whereas a refpedable committee of the lower houfe, or a joint committee 
 of both houfes, might, at that time, have efFefted any thing. 
 
 Part III. O o There
 
 28l HISTORY OF THE PUBLIC REVENUE 
 
 There never was a miniiler who had fo many opportunities of pro-^ 
 pofing and of carrying into effed beneficial public meafures, as the 
 prefent chancellor of the exchequer. His adminiftration began under 
 aufpices the moft favourable. No individual had ever enjoyed to fo 
 great an extent, the favour of the crown, the confidence of the people,, 
 and the fupport of parliament. PofTefTed of pre-eminent powers of 
 eloquence, that fureft inftrument, in a popular government, of attaining 
 power, the world was difpofed to give him credit for abilities, beyond? 
 what others could lay claim to; and for information, which he could' 
 not have had either time or opportunity to acquire : whilft a partiality 
 for the name he bore (to which his father had given luftre and diftinc- 
 tion), joined to ill-founded prejudices entertained againft the characters 
 and principles of his opponents, infured the fuccefs of any fyftem that 
 he might choofe to bring forward. Of the various meafures how- 
 ever that he has propofed, hardly one can ftand the teft of a flri£t and 
 impartial examination. The greater part of them are crude and undi- 
 gefted, and could only be reduced into fome form or fubftance by the- 
 ufeful obfervations, and the ftrenuous efforts of his opponents, whofe 
 patriotifm led them to corredt or to oppofe fchemes which, as originallp 
 ftated, rauft have proved ruinous to the country. His India bill, even 
 thus amended, has fmce required five explanatory and declaratory aits : 
 his bill refpeding the unalienable million, thus received fome im- 
 portant improvements"' j and there is hardly any plan propofed by him,., 
 
 that. 
 
 '' In Partii. p. 127, which was publiflieda»w9 17854 and indeed in a memoir, con- 
 taining a plan for re-eftablidiing the credit and finances of the country, jninted anno 1783;; 
 the author had dated an objedlion commonly adduced againft tlic unalienable finking- 
 fund, namely, that it would be abfurd to employ money in paying oiF old debts, if a na- 
 tion were at the fame time under the ncceflity of contrafliag new incumbrances. But the ■ 
 plan of redemption, as he propofed it, would remove this objection, without deftroying the ■ 
 certain advantages of an unalienable linking fund : for it was fuggefted, that the public 
 Ihould borrow from that fund, in times of emergency, what money it could fpare j but: 
 at the fame time fiiould provide taxes for defraying the intereft of the money that it bor- 
 rowed, giving the finking fund a proportionable fhare in the new loan. A claufe to this 
 cfFedl was moved by Mr. Fox, on the 12th Rday 1786 (Parliamentary Regifter, vol. xx. . 
 .p. 201). Though coming from fo obnoxious a quarter, yet it inftantly became one of 
 the beft; and wifeft meafures that had ever been heard of: " By fuch a regulation," 
 according to Mr. Pitt (Ditto, p. 202), "Government would be enabled to borrow 
 «» upon eafier terms, and the claufe had a ftrong tendency to fortify and give fta- 
 
 " bility
 
 OF THE BRITISH EMPIRE. 283 
 
 that has not undergone a variety of alterations, in order to render it 
 palatable. But what elfe could a fovereign or a nation expe<3: from, 
 the unripe and juvenile exertions of fo young a minifter, with no pre- 
 tenfions at that lime, whatever he may have fnice acquired, to any 
 acquaintance with the foreign or domeftic interefts of the country, and 
 better calculated for exercifnig the fubtle fophlftry of the law, than for the 
 plain, but fteady and judicious politics of a fenator or a ftatefman ? 
 
 We fhall now proceed to ftate the progrefs that has already been made 
 imder the ad for verting certain fums in commiffioners, to be by them 
 applied in the redudicn of the national debt '. 
 
 ACCOUNT of the SUMS received by the CommlfTioners for the 
 Redudion of the NATIONAL DEBT, and of the Stock purchafed 
 by them. 
 
 Sums received and paid. Stock purchafed, 
 Firft quarter ending 5 th July £. £. 
 
 1786 - • 250,000 o 9 324,300 
 Second quarter ending 10th Oc- 
 tober 1786 ^ - 250,555 o o 338,450 
 
 Third quarter ending 5 th Ja- 
 nuary 1787 - 254,110 o o ^36,300 
 Fourth quarter ending 5th April 
 
 1787 - ^ - 254,755 o O 344,050 
 Fifth quarter ending 5th July 
 
 1787 *- - 299,085 6 10 417,501 
 
 Sixth quarter ending loth Oc- 
 tober 1787 - 272,265 o o 359,049 
 ^Seventh quarter ending 5th Ja- 
 nuary 1788 - 268,690 o o 355,950 
 
 Carried over £ 1,849,460 6 10 2,4^5,600 
 
 '*• bility to the whole inftitution." Yet the reader who could give himfelf the trouble of 
 ■inveftigating the fubjeft, would find that the plan thus abundantly applauded, had been 
 recommended by the author above twelve months before j though, coming from him, it had 
 either been overlooked or difregarded by the minifter. 
 ' See 26 Geo. III. cap. 31. 
 
 O O 2
 
 284 HISTORY OF THE PUBLIC REVENUE 
 
 Sums received and paid. Stock purchafed. 
 
 Brought over £ 1,849,460 6 10 2,475,600 
 
 Eighth quarter ending 5th April 
 
 1788 - - 297,044 17 o 398,550 
 
 Ninth quarter ending 5th July 
 
 1788 - - 274,945 o o 369,150 
 
 Tenth quarter ending loth Oc- 
 tober 1788 - 279,900 o o 382,700 
 
 £ 2,701,350 3 10 3,626,000' 
 
 Such is the progrefs that has been made during the fpace of twa 
 years and a half, in reducing the national debt : but it is rather an 
 unfortunate circumftance, that we have thus expended above 2,700,000 /. 
 ■without in fa£t diminifhing the national debt a fingle {hilling. On the 
 5th April 1786 the 3 per cents, fold at the rate of 70, and confequently 
 were only worth 117,643,308/. At their prefent price, which is mo- 
 derately ftated at j$^ they are worth 126,046,401/. and confequently 
 thefe operations have had the effed of increafing the real amount of the 
 debt, for at this time, even dedudling the capital that has been pur- 
 chafed, it exceeds by 4,777,093/. the value in April 1786. Even that 
 fum would have been thrown away with lefs reludance, were it the 
 only lofs to be fuftained : but the fa£t is, tliat the more we pay, the 
 more we fhall be indebted : every fliilling that is laid out in purchafmg 
 Hock, raifes the price proportionably. Unfortunately alfo, whilft the 
 public lofes confiderably, no individual is ultimately a gainer, but he 
 who difpofes of his ftock at an advanced price, and lays it out on 
 ether fecurlties : whereas had a different fyftem been adopted,, and had 
 a fair and equal agreement been entered into between the public and its 
 creditors, the profperity of the one would have gone band in hand with 
 the gain and profits of the other* 
 
 ' The accruing intereft upon the ftock purchafed, amounts to 108,780/. and the com- 
 miflioners receive 25,000/. per annum of fliort annuities payable at the Bank, which ex- 
 pired in April 178.7 : together with certain unclaimed and expired annuities paid at th^ 
 Exchequer. The falaries of the fecretary, the broker, and other perfons employed bv 
 the commiffioners, amounting to about 1,2^0 1, per annum, is the only fum to be de- 
 duded. 
 
 Having
 
 OF THE BRITISH EMPIRE. 
 
 235 
 
 Having gone through, in this and in the preceding chapters, the 
 Tarious particulars conne£ted with the prefent ftate of our finances, it may 
 not be improper to conclude this part of the work with a general view 
 of the public income and expenditure ; and to compare our financial 
 fituation with the bed accounts we are able to obtain, refpeding the 
 circumflances of a powerful empire, with whom we have long held an 
 unceafing and espenfive rivalfliip. 
 
 In the account to be given of the general income and expenditure 
 of the country, it is neceflary to make mention of fome articles of 
 which no notice has as yet been taken ; namely, certain charges to 
 which the confolidated fund is liable — duties appropriated for fpecific 
 purpofes — the profits of public lotteries — the income of Greenwich 
 hofpital — and grants to individuals, which ought property to form a 
 part of the public revenue. 
 
 The various charges to which the confolidated fund is liable, in ad- 1. Charges 
 dition to the fum of ^^6^oool. per annum paid out of that fund on ac- Hdatedfund.* 
 count of the civil lift,^ are as follows i 
 
 An ACCOUNT of the ANNUAL SUMS charged upon and payable 
 out of the CONSOLIDATED FUND, exclufively of the Civil Lift, 
 the Annuities to public Creditors, and the Charges of Manage- 
 ment. 
 
 To the Duke of Gloucefter, by 7 Geo. IIL - jT 8,000 
 
 Ditto, by 25 Geo. III. - _ _ 9,000 
 
 To the Duke of Cumberland, by 7 Geo. III. - 8,000 
 To the reprefentatives of Arthur Onflow, Efq. by 
 
 2 Geo. III. - - - - JjOOO 
 
 The Earl of Chatham, by 18 Geo. III. - 4,000 
 
 Lord Rodney, by 25 Geo. UI, - - 2-,ooo 
 
 Lord Heathfield, by ditto . « _ 1,500 
 
 Lady Dorchefter, by ditto - - 1,000 
 
 Lord Sondes, by 25 Geo. III. - - 7,000 
 
 Lord Mountftuart, by ditto - - 7,000 
 
 Philip Deare, Efq. by ditto . - - 300 
 
 John Wigglefworth, Efq. by ditto - - 300 
 
 Carried over ;^ 51,100
 
 286 HISTORY OF THE PUBLIC REVENUE 
 
 Brought over ^51,100 
 John Lloyd, Efq. by 25 Geo III. - - 300 
 Charles Harris, Gent, by ditto - - 200 
 To the auditors of the public accounts, by ditto - 3,000 
 To the auditors of army accounts, by ditto - 1,000 
 Expence of the office for auditing the public ac- 
 counts, by ditto » _ _ 6,000 
 "To the fherifFs of England and Wales - 4,000 
 Fees and incidental expences at the exchequer - 2.^400 
 
 £ 68,000 
 
 2. Appro- It appears from the report of the committee of finance appointed 
 
 fies"*''''"' ^""'^ 1786, that a part of the annual produce of the public revenue, 
 
 inftead of being applicable to the general expences of the country, is 
 
 appropriated for certain fpecific purpofes, of which the following llatie- 
 
 ment will give fome idea.; 
 
 .AMOUNT of the PRODUCE of the TAXES appropriated for 
 
 particular Purpofes. 
 
 Duty on cotton wool, for encouraging the 
 
 growth of cotton in the Weft Indies £ i,ooo o o 
 
 Duty on canvas and lawns, for the encou- 
 ragement of raifing hemp and flax in Great 
 Britain _ _ - 9,847 3 8| 
 
 Duty on wine, for the expence of coinage 6,11716 6^ 
 
 Stamp duty on, parchment, per hanaper office 3,698 10 3 
 
 Additional duty on ftamped paper and parch^ 
 
 ment, for payment of the judges falaries 9,819 18 7 
 
 Ditto fmce 1762, for the like fervice - 429 i 7 
 
 Ditjtp fincc 1 765, for the like fervice - 946 10 4 
 
 X 31.859 I 
 
 .It 
 
 » See Report of the ScIclT: Committee, Appendix T. Other duties are .mentioned in 
 •the fame account, as the fixpence per pound on penfionSj the firfl-fruils and tenths of the 
 
 <lergy.
 
 OF THE BRITISH EMPIRE. -87 
 
 Thefe are fums which do not in general appear in the accounts of our 
 national expenditure. 
 
 The prefent minifter has undoubtedly taken advantage of the 3- Profitofa 
 gambling fpirit of the times, and has increafed the profit of a public 
 lottery much beyond any of his predeceflbrs. It was formerly cal- 
 culated at 150,000/. a- year : it produced laft year about 258,000/. 
 and this year 271,000/. an addition which certainly does credit to his 
 zeal and a(flivity. Were the claims of the American loyalifts once 
 difcharged, this would prove a refource capable of defraying thofe un- 
 forefeen and incidental expences, which are perpetually recurring, and 
 for which an adequate allowarice is rarely made : from the profits how- 
 ever above mentioned, the expence of drawing the lottery, and of re- 
 ceiving the contributions at the Bank, muft be deducted, amounting to 
 about i2>->^ooL per annum. 
 
 Among the public expences which rarely come under the confidera- 4-. Green- 
 tion of parliament, there is none that deferves more to be attended to -jt^i^ 
 than the income and expenditure of the hofpital erefted at Greenwich 
 for old and difabled feamen. It is in itfelf a noble inftitution, the idea 
 ©f which cheers the defenders of the ftate in times of peril and danger,, 
 and furnilhes them in their old age with the means of ihelter, com- 
 fort, and protedion. Such public charities are fo apt to be abufed, 
 that their accounts cannot be too frequently examined. la the year 
 1779 the attention of the upper houfe was devoted for fome time 
 to a minute inveftigation into this important bufinefs ; which,, 
 though it anfwered no immediate good purpofe, yet the poflibility of 
 fuch another inquiry muft have operated beneficially in regard to 
 the inftitution ". Of its prefent income and expenditure, the following 
 is the lateft account that has been prefented to parliament: 
 
 clergy, the 4* per cent. Leeward Ifland duty, and fome other fums remaining iri the Exi- 
 chequer for the difpofition of parliament : but thefe articles are included in the llatementa 
 already drawn up of the national incorne, p. 136. 
 " Parliamentary Regifter, anno 1779, voh xiv. p. 156, I57». 
 
 12.
 
 ^&8 HISTORY OF THE PUBLIC REVENUE 
 
 ACCOUNT of the prefent State of the Royal Hospital at 
 
 •Greenwich, amio 1786-7, 
 
 I. Income. 
 
 Sixpence per man per month for 1 8,000 fea- 
 men voted for the pubUc fervice, dedudting 
 1,829 marines on fhore'' - £, Sy^SS ^^ ^ 
 Ditto for 4136 men ferving in fhips in ordi- 
 nary - - - - 1,344 4 o 
 Ditto for feamen in the merchants fervice 1 1)055 "5 ^ •^ 
 North and South Foreland hghts - 4>050 1 1 8 
 Rent of houfes at Greenwich and London 121 16 8 
 Derwentwater eftate, incUiding lead mines 20,800 o o 
 Half pay to the officers of the hofpital l>030 10 9 
 Allowances to the chaplains at Deptford and 
 
 Woolwich - - - 178 I 6 
 Intereft of 505,000/. 3^(?r ri?;//. confolidated 
 
 annuities - - - 15,15000 
 
 Ditto of 1,885/. 16 J-. 8/3^. 3 /<frrf»/. reduced 5^ n 8 
 
 Total ordinary income 59,043 3 8 
 in the treafurer's hands - - i9>920 7 10-^- 
 
 Total i: 78,963 II ^!- 
 
 It was alfo ftated that more money might be expected to come in 
 for forfeited and unclaimed ihares of prizes, but the amount was 
 uncertain. 
 
 * Anm iTJ(ji the fixpence per mznper month produced 26,000/. from the great number 
 of feamen then in the fervice, and this makes the income of the hofpital always greater in 
 time of war, than in time of peace. 
 
 2. Ex-
 
 OF THE BRITISH EMPIRE. 289 
 
 2. Expenditure. 
 
 Clothing, viduals, and expences of all kinds 
 for 2,350 penfioners borne on the efta- 
 blifhment, including nurfes, cooks, falaries 
 of inferior officers, l^c. ^c. - j^ 52,422 9 7 
 
 Penfions to out-penfioners, and expences in- 
 cident to that fervice - - 7,149 I 9 
 
 Salaries to the feveral officers - 5j572 o o 
 
 Ordinary works and repairs of the hofpital, 
 including the expences of the infirmary,' 
 brewhoufe, ?^c. - - 5)022 o o 
 
 Contingent expences for law charges, fta- 
 
 tionery, Sffc. - _ . ^28 11 lo 
 
 Buildings, repairs, and various other expences 
 
 refpeding the Derwentwater eftate 4,108 19 i-|- 
 
 Total £ 75,203 2 ^1. 
 
 The fum of 52,422/. laid out in the maintenance of 2,350 in the 
 hofpital, amounts to 22/. 6s. \l.d. per man, and rather feems to be an 
 expenfive allowance. There are other articles in the account alio, 
 which have the appearance of being highly ftated : at the fame time 
 the fufpicions that are apt to be entertained upon fuch occafions, may 
 vanifh upon enquiry'. 
 
 It were to be wifhed, that a fimilar account would be given of 
 another naval inftitution, known under the name of the Trinity Houfe; 
 the funds of which are certainly confiderable, and which ought perhaps 
 
 >" The hofpitals of Chdfea and Greenwich ought certainly to be kept up, as orna- 
 mental national inftitutions. It is in general however fuppofed, that the out-penfioners are 
 happier than thofe who refide at either of thofe eftablifhments ; whilft at the fame time 
 they do not coft the public a third of the expence. Were none but out-penfioners to be 
 admitted, the number might be greatly increafed, and the buildings might be appropriated 
 to officers on half-pay and their families, to whom the expences of lodging, the advan- 
 tages of meffing together, and the pleafures of a fociety to which they have been ac- 
 cuftomed, would be an objedi:. It would alfo preferve a naval and military (kill and 
 fpirit among peifons of that defcription, which they are apt to lofe when feparated from 
 each other. 
 
 Part III. P p to
 
 individuals. 
 
 290 HISTORY OF THE PUBLIC REVENUE 
 
 to be confolldated with Greenwich hofpital, having in fome refpe£ts an 
 afiinity. But this is a matter which has not as yet attraQed the Ic- 
 giflature's attention. 
 5. Grants to In the report of the committee of finance, It Is ftated, that there are 
 fome charges on the poft-office, and other branches of the revenue, 
 arifnig from different grants and ads of parUament, by which annuities 
 are made payable to certain individuals; but as they are ifiiied at the 
 different ofhces of coUedlion previoufly to the payment into the Exche- 
 quer, the committee declined flating them under the head of public ex- 
 penditure. They feem however rather to have exercifed too much de- 
 licacy upon the occafion. In the accounts to be laid before the public, 
 there ought to be no myftery or concealment. No man can furely 
 grudge that the reprefentative of the great duke of Marlborough fhould 
 enjoy 5000/. per annum ^ as a recompence for his fervices.to the nation % 
 The more rewards of that nature that can be beftowed with propriety 
 the better; and if any grants were to be brought under the infpedion 
 of the public, in favour of which fuch ftrong arguments cannot be ad- 
 duced on account of real public benefits, it will at leafl be a call upon 
 thofe who now enjoy them, and their defcendants in future, to exhibit 
 upon all occafions fuch a warm and ardent zeal for the profperity of 
 their country, as may render the incomes they poffefs lefs unpopular and 
 obnoxious. 
 
 The fums arifmg from fuch grants and ads of parliament, exclufive 
 of the Earl of Newburgh's, probably amount to about 35,000/. per 
 anJinm. 
 
 We fhall now proceed to give a general view of the national income, 
 refources, and expenditure for the year 1788. 
 
 GENERAL VIEW of the NATIONAL INCOME and 
 RESOURCES for the Year ending 5th April 1789. 
 
 1. Grofs produce of the cuftoms, including the 
 fees received by the officers - ^ 4,725,643 
 
 2. Grofs produce of the excife - - 7,196,056 
 
 Carried forward £ 11,921,699 
 
 ' By 5 Anne, cap. 41. The other perpetual penfions on the poft-office, are 4,700/. to 
 the Duke of Grafton, and 4,000/. to the heirs of the Duke of Schomberg.
 
 f. 
 
 11,921,699 
 
 
 i,529>905 
 
 
 2,080,191 
 
 
 2,750,000 
 
 
 31,859 
 
 
 258,000 
 
 
 "3,591 
 
 
 200,000 
 
 
 300,000 
 
 
 59,043 
 
 — 
 
 2>S^^^^ 
 
 £ 
 
 19,079,288 
 
 OF THE BRITISH EMPIRE. 291 
 
 Brought forward 
 
 3. Grofs produce of the ftamps 
 
 4. Grofs produce of the mifcellaneous taxes 
 
 5. Eflimated produce of land and malt 
 
 6. Appropriated duties 
 
 7. Profits of the lottery 
 
 8. Impreft money and arrears of taxes 
 
 9. Army favings of the year 1786 
 
 10. Paid by the India company on account of 
 troops and vidtuaUing the fleet in the Eaft 
 Indies _ _ _ 
 
 11. Income of Greenwich hofpital* 
 
 12. Permanent grants to individuals 
 
 Total 
 
 This is exclufive of the Exchequer bills, amounting to 5,500,000/. 
 ■which being annually voted and renewed, the charges and intereft alone 
 require to be mentioned. 
 
 The manner in which the above fum was expended will appear from 
 the following flatement; 
 
 GENERAL VIEW of the PUBLIC EXPENDITURE for 
 the Year ending 5th April 1789. 
 
 I. Expence of Colledlion, and other Dedudions before the Produce of 
 the Taxes reaches the Exchequer. 
 
 1. Salaries, fees, and incidents in the cuflom- 
 "houfe _ _ _ ^506,548 
 
 2. Bounties payable out of the cufloms - 429,818 
 
 Carried over £ 9j(^j3^'^ 
 
 * By 28 Geo. III. cap. 63. the fum of 2,500/ per annum is dire(5^ed to be paid by 
 the treafurer of Greenwich hofpital, to the prefent Earl of Newburgh, and his male de- 
 fcendants, which, inftead of being dedudlcd from this fum, will be included in the per- 
 manent grants to individuals, which thus amount to 37,500/. 
 
 Pp 2
 
 aja HISTORY OF THE PUBLIC REVENUE 
 
 Brought over £ cjt^G^t^SS 
 
 3. Charges of the exclfe - - 410,515 
 
 4. Bounties paid by the excife and fait office 39»572 
 
 5. Expences of the ftamp office - - 5i>69i 
 
 6. Expences of the mifcellaneous taxes - 276,436 
 
 7. Charges of levying the taxes in Scotland 135,182 
 S. Bounties payable in Scotland - - 66,790 
 9. Expence of levying the land tax - 53»574 
 
 10. Expence of the militia - '- 116,137 
 
 1 1. Other deductions from the land tax - 14,000 
 
 1 2. Deficiencies of land and malt, including the 
 interell of the Exchequer hills iffued on the 
 
 credit of thofe taxes - - 250,000 
 
 £ 2,350,263 
 
 2. Afcertained and permanent Expences. 
 
 1. Expences of the civil lift £ 900,000 
 
 2. Intereft of the funded debt, ex- 
 
 clufive of tontine 1789 9,150,138 
 
 3. Intereft and charges of Ex- . 
 chequer bills - - 180,419 
 
 4. Charges of managing the public 
 
 debts - - 156,634 
 
 5. Expences attending the lottery 13,600 
 
 6. The fum unalienably appro- 
 priated for the redudion of the 
 
 national debt - - 1,000,000 
 
 7. Charges on the confolldated fund 68,000 
 
 8. Appropriated duties ' - 31,859 
 
 9. Expences of Greenwich hofpital 75,200 
 10. Permanent grants to individuals 3755°° 
 
 ■ ii,<5i3,350 
 
 Carried forward J^ 13,963,613
 
 OF THE BRITISH EMPIRE. 25^ 
 
 Brought forward £^3,9^3^61;^ 
 3. Annual Grants of Parliament. 
 
 I- Na^7 - - ^2,348,118 
 
 2. Army - - 2,038,852 
 
 3. Ordnance - - 484,507 
 
 4. Mifcellaneous fervices - 756,795 
 
 5,627,672' 
 
 Total expenditure £ 19,591,285 
 Total income 19,079,288 
 
 Difference jT 511,997 
 
 The deficiency above ftated Is accounted for, by the charges of 
 the late armament and other incidental expences, which it Is faid can 
 hardly again recur. The taxes alfo for that year having proved defi- 
 cient to the amount of above 300,000/. and the Eaft India Company 
 having paid 200,000/. lefs than was expedled from them, it became 
 necefllary to borrow a million to complete the fupply for the fervice of 
 the year 1789. Unlefs the revenue, however, becomes more pro- 
 dudlive, or the public expences are diminilhed, there is too much reafon 
 to apprehend that the expenditure will continue to prove greater than 
 the income. 
 
 As the above is the firft attempt to drawup a complete view of the 
 public accounts for anyone year; and as the author had no accefs to 
 information but from the confufed and almoll inexplicable papers vphich 
 are laid before parliament, he is perfuaded that tlie reader will excufe 
 any defeats which it may contain. It is indeed to be wondered at, that 
 an enlightened nation that boafis of the freedom of its government, 
 and the publicity of every thing conneded with its fyftem of finance, 
 iliould have refted fo long fatisfied with fuch mifcrable, defcdive, and 
 •unintelligible fcraps of information as are in general laid on the table of 
 
 * The particulars of thefe grants maybe feen from the votes of the houfe of commons, 
 the appropriating afl' for the year, or the paper entitled, The Difpofitioti of Grants for 
 the Service of the Year 1788 ; which was prefented to parliament on the 8th May 1789, 
 and will be printed in the Journals of this year. But left there are readers who may not 
 poflibly have accefs to any of thefe fources of information, the account will be given in 
 the Appendix. 
 
 8 the
 
 294 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 the houfe of commons. An account fliould, in the firft place, be given of 
 every fhilling that is levied in any Ihape by taxes from the public, and the de- 
 ductions therefrom ; for the nation ought to have anopportunity of examin- 
 ing how far fuch important dedudions are juftifiable and well founded. 
 The clear revenue being thus afcertained, the permanent and fettled ex- 
 pences on account of the civil lift, the national debt, l^c. ought next to 
 be ftated ; and, laftly, the expences of the different eftablifhraents for 
 the year, and the various incidental charges to which the country is 
 liable. A general national account of this nature ought annually to be 
 drawn up by the minifter, and prefented to parliament at the conclufion 
 of every year, or a committee of accounts ought to be appointed for that 
 fpecial purpofe. 
 
 We fhall conclude this chapter, with endeavouring to give a fimilar 
 view of the income and expenditure of France during nearly the fame 
 period. 
 
 GENERAL VIEW of the INCOME and RESOURCES of 
 
 France, for the Year ending ift January, 1789. 
 
 I. Ordinary Income. 
 
 3- 
 
 4- 
 
 5- 
 6. 
 
 7- 
 S. 
 
 9- 
 
 10. 
 
 II. 
 
 12. 
 
 «3- 
 14. 
 
 »S- 
 
 16. 
 
 »7- 
 
 The general receipt of the finances, 
 the capitation tax and tlie twentieths 
 Paid by the farmers general for tlie 
 tobacco farm, IS^c. 
 The excife on wines, brandy, tifc. 
 The domains of the king of France 
 Taxes on Paris 
 
 The poft-office, including pofl-horfes 
 The royal and other lotteries 
 Taxes on the Pays d'Etats 
 By the farm of the public ftages 
 Duties on cattle for the confumption Oi 
 at Seaux and PoiiTy 
 
 Profits from the manufafture of gunpowder 
 Duties of excife at Verfailles 
 The profits of coinage 
 Taxes on Corfica 
 Taxes on hackney coaches 
 
 Intereft of loan due by the United States of America 
 Additional income from the excife, and other refources 
 of a fimilar nature - - . 
 
 
 Sterling. 
 
 
 Li'vres. 
 
 comprehending 
 
 
 
 
 
 £ 
 
 6,170,833 
 
 6 
 
 8 
 
 148,000,000 
 
 fait farm, the 
 
 
 
 
 
 - 
 
 6,250,000 
 
 
 
 
 
 150,000,000 
 
 - 
 
 2,125,000 
 
 
 
 
 
 51,000,000 
 
 - 
 
 2,329,166 
 
 13 
 
 4 
 
 55,900,000 
 
 - 
 
 333.333 
 
 6 
 
 8 
 
 8,000,000 
 
 - 
 
 500,000 
 
 
 
 
 
 12,000,000 
 
 - 
 
 400,000 
 
 
 
 
 
 9,600,000 
 
 - 
 
 1,020,833 
 
 6 
 
 8 
 
 24,500,000 
 
 - 
 
 4S>833 
 
 6 
 
 8 
 
 1,100,000 
 
 ' Paris collefted 
 
 
 
 
 
 - 
 
 26,250 
 
 
 
 
 
 630,000 
 
 /der 
 
 23,750 
 
 
 
 
 
 575,000 
 
 - 
 
 37'50o 
 
 
 
 
 
 900,000 
 
 - 
 
 22,500 
 
 
 
 
 
 540,000 
 
 - 
 
 25,000 
 
 
 
 
 
 600,000 
 
 - 
 
 5,416 
 
 13 
 
 4 
 
 130,000 
 
 s of America 
 
 66,666 
 
 '3 
 
 4 
 
 1,600,000 
 
 303,147 17 6 
 
 7.275,549 
 
 jT 19,683,981 
 
 472,415,549
 
 OF THE BRITISH EMPIRE. 
 
 295 
 
 2. Loans and other Extraordinary Resources. 
 
 Loan of December 1787 for the year 1788 
 Balance of loan opened by the States of Languedoc 
 Loan by the Eftates of Provence 
 To be remitted by the Eftates of Languedoc 
 
 5. To be remitted by the Eftates of Burgundy 
 
 6. Advance by the farmers general, with intcreft 
 
 7. Balance in the royal treafury on ift January 1788 
 
 8. To be remitted by the aflurance company 
 
 9. Balance of loan in Flanders 
 10. Balance of loan at Genoa 
 
 Additional receipts for the year 1788, not included in 
 the ordinary revenue 
 
 Steylhi 
 
 •s- 
 
 
 Li-vres, 
 
 £ 5,000,000 
 
 
 
 
 
 1 20,000,000 
 
 416,666 
 
 »3 
 
 4 
 
 10,000,COO 
 
 125,000 
 
 
 
 
 
 3,000,000 
 
 125,000 
 
 
 
 
 
 3,000,000 
 
 50,000 
 
 
 
 
 
 1,200,000 
 
 104,166 
 
 '3 
 
 + 
 
 2,500,000 
 
 352,083 
 
 6 
 
 8 
 
 8,450,000 
 
 475,000 
 
 
 
 
 
 1 1,400,000 
 
 84,479 
 
 3 
 
 4 
 
 2,027,500 
 
 50,000 
 
 
 
 
 
 1,200,000 
 
 6,782,395 
 
 16 
 
 8 
 
 162,777,500 
 
 223,043 
 
 '3 
 
 4 
 
 5,353,000 
 
 7,005,437 
 
 10 
 
 
 
 168,130,500 
 
 Such was the general view given of the refources of France at the 
 commencement of the year 17S8; hut it was found impoflible to carry 
 on the pubhc bufniefs of the country, even with thefe fums, great as 
 they mufi: appear : a variety of favings, therefore, became indifpenfably 
 iieceffary, confifling of the following particulars : 
 
 3. Savings in the Courfe of the Year ending ifl: January 17S9. 
 
 1 . Dcduftions from penfions by arret of i 3th 061. 1 7S7 
 
 2. Savings in the war department 
 
 3. Savings in the naval department 
 
 4. Savings in the department of foreign affairs 
 
 Sterling. 
 
 
 Livies. 
 
 ^208,333 
 
 6 
 
 8 
 
 5,ooo,t:oJ 
 
 333'333 
 
 6 
 
 8 
 
 8,000,000 
 
 187,500 
 
 
 
 
 
 4,5c 0,0 30 
 
 72,500 
 
 
 
 
 
 1 ,500,000 
 
 £ 801,666 
 
 «3 
 
 4 
 
 19,000,000-' 
 
 GENERAL ABSTRACT of the INCOME and RESOURCES of 
 
 France, au/io 1788. 
 
 Sterling, Li--vres. 
 
 K Ordinary income ... jf 19,683,981 4 a 
 
 2. Extraordinary refources 
 
 3. Savings .... 
 
 7,005,437 10 o 
 801,666 13 4 
 
 472, ,115,549 
 
 168,130,500 
 
 19,000,000 
 
 Total j^ 27,491,085 7 6 659,546,049 
 
 * See M. Necker's fpeech to the Etats Generaux, 7th May 1789.
 
 20 HISTORY OF THE PUBLIC REVENUE 
 
 The expences of France may, in the fame manner, be divided into 
 three branches: — The ordinary — the extraordinary — and certain 
 unforefeen charges, omitted in the original eftimate of the expendi- 
 ture of the year. 
 
 I. Ordinary Expences. 
 
 J. Intereft of the public debt 
 
 2. Rembourfemens, or finking fund 
 
 3. Expence of offices and coUeftion 
 
 4. Expence of the king's houfehold 
 
 5. Expence of the queen's houfehol4 
 
 6. Expences of the royal Tamily 
 
 7. Penfions - - - - 
 
 8. Department of war - - - 
 
 9. Expences of the navy and colonies 
 Department of foreign affairs 
 Roads and bridges 
 Office of fecretaries of ftate 
 Great offices of the crown 
 Expences of the royal councils 
 Expences of the privy council - - 
 Various commiffions of council 
 Intendants of the diAerent provinces 
 The parliaments and other courts of juftice 
 The chatelet, bailliages, ISc. 
 Courts of admiralty, £5V. 
 Expences in the department of finances 
 Fees and other expences 
 Marechauflee of the ifle of France 
 Police of Paris - - - 
 Quarries in the neighbourhood of Paris 
 Watch of Paris 
 The department of the mines 
 Schools of farriery, l3c. 
 Public ftuds 
 Various academies 
 Frinting-houfes 
 The king's library 
 
 The royal garden and cabinet of natural hillory 
 Expence of medals 
 Hofpitals - . _ 
 
 36. Foundling hofpital 
 
 37. Voyages 
 
 38. Expences in the department of forefts and rivers 
 
 10. 
 II. 
 12. 
 
 J3- 
 14. 
 
 IS- 
 16. 
 
 «7- 
 18. 
 
 19. 
 
 20. 
 
 21. 
 
 22. 
 23. 
 
 24. 
 
 26. 
 27. 
 28. 
 29. 
 30. 
 
 3'' 
 32- 
 33. 
 34 
 35 
 
 Sterling, 
 
 £ 8,978,269 o 
 
 3,187,598 17 
 
 1,607,083 6 
 
 712,291 13 
 
 135,833 6 
 
 430,125 o 
 
 1,125,000 o 
 
 4,416,606 13 
 
 1,882,500 o 
 
 380,416 13 
 
 271,666 13 
 
 166,666 13 
 
 13,458 6 
 
 15,000 o 
 
 15,125 o 
 
 17,916 13 
 
 47,916 13 
 
 171,333 6 
 
 S8>333 6 
 37,500 o 
 
 33.333 6 
 83.333 6 
 II, coo o 
 64,750 o 
 16,666 13 
 
 34,041 13 
 
 8.333 6 
 
 8,333 6 
 
 36,666 13 
 
 15,833 6 
 
 3.750 o 
 
 3.54" '3 
 
 4.458 6 
 
 1,666 13 
 
 14,583 6 
 
 15,416 13 
 
 2,500 o 
 
 142,125 o 
 
 4 
 8 
 
 4 
 8 
 
 4 
 o 
 o 
 
 Livres, 
 
 215,478,456 
 
 76,502,367 
 
 38,570,000 
 
 17,095,000 
 
 3,260,000 
 
 10,323,000 
 
 27,000,000 
 
 106,000,000 
 
 45,180,000 
 
 9,130,000 
 
 6,520,000 
 
 4,000,000 
 
 323,000 
 
 360,000 
 
 363,000 
 
 430,000 
 
 1,150,000 
 
 4,1 12,000 
 
 1,400,000' 
 
 900,000 
 
 800,000 
 
 2,000,000 
 
 264,000 
 
 1,554,000 
 
 400,000 
 
 769,000 
 
 200,000 
 
 200,000 
 
 880,000 
 
 380,000 
 
 90,000 
 
 85,000 
 
 107,000 
 
 40,000 
 
 350,000 
 
 370,000 
 
 60,000 
 
 3,411,000 
 
 Carried forward ^^ 24,169,884 10 o 580,076,823
 
 OF THE BRITISH EMPIRE. 
 
 297 
 
 
 
 
 Sterling, 
 
 
 Llvres, 
 
 
 Brought over 
 
 I' 
 
 24,169,884 
 
 10 
 
 
 
 580,076,823 
 
 39- 
 
 Expences of juflice 
 
 
 109,250 
 
 
 
 
 
 2,622,000 
 
 40. 
 
 Prefents ... 
 
 - 
 
 16,666 
 
 '3 
 
 4 
 
 400,000 
 
 41. 
 
 Building and maintaining courts of juftice 
 
 - 
 
 20,833 
 
 6 
 
 3 
 
 500,000 
 
 42. 
 
 The order of Saint Efprit 
 
 - 
 
 25,000 
 
 
 
 
 
 6oo,eoo 
 
 43- 
 
 Charitable works 
 
 - 
 
 75,000 
 
 
 
 
 
 1,800,000 
 
 44. 
 
 Expence for beggars 
 
 - 
 
 45.833 
 
 6 
 
 8 
 
 1,100,000 
 
 4S- 
 
 Civil expences of Corfica 
 
 - 
 
 37.500 
 
 
 
 
 
 900,000 
 
 46. 
 
 Difcharges of taxes 
 
 - 
 
 287,500 
 
 
 
 
 
 6,900,000 
 
 47- 
 
 Ditto in pays d'etats 
 
 - 
 
 83.333 
 
 6 
 
 8 
 
 2,000,000 
 
 48. 
 
 Franchifes of different kinds 
 
 - 
 
 16,666 
 
 «3 
 
 4 
 
 400,000 
 
 49. 
 
 Encouragements to commerce' 
 
 - 
 
 54,526 
 
 7 
 
 6 
 
 1,308,633 
 
 50. 
 
 Ecclefiallical expences 
 
 - 
 
 68,333 
 
 6 
 
 8 
 
 1,640,000 
 
 5'- 
 
 Colleges and univerfities 
 
 - 
 
 18.750 
 
 
 
 
 
 450,000 
 
 52 
 
 Duties of privileged perfons 
 
 - 
 
 40,833 
 
 6 
 
 8 
 
 980,000 
 
 53- 
 
 Allowance of fait 
 
 - 
 
 20,833 
 
 6 
 
 8 
 
 500,000 
 
 54- 
 
 Payments to the old Eaft India company 
 
 - 
 
 12,500 
 
 
 
 
 
 300,000 
 
 55- 
 
 Various expences 
 
 £. 
 
 22,500 
 
 
 
 
 6 
 
 540,000 
 
 
 25,124,829 
 
 4 
 
 604,996,456 
 
 2. Extraordinary Expences. 
 
 1. Extraordinary expences attending the public debts, 
 
 atino 1783 • . . 
 
 2. Extraordinaries of the king's houfehold 
 3. of the royal family 
 
 4. in the department of war 
 
 5. ■ in the foreign department 
 
 6. — — — in the expence of roads and bridges 
 
 •J. Extra payment to the old India company 
 
 8. Various extraordinary expences 
 
 9. Fund for unforefeen expences 
 
 Sterling, 
 
 / 176,316 
 
 
 
 lO 
 
 4.231.585 
 
 8.333 
 
 6 
 
 8 
 
 200,000 
 
 6,000 
 
 
 
 
 
 144,000 
 
 49,166 
 
 »3 
 
 4 
 
 1,180,000 
 
 219,166 
 
 '3 
 
 4 
 
 5,260,000 
 
 370.833 
 
 6 
 
 8 
 
 8,900,000 
 
 8.333 
 
 6 
 
 8 
 
 200,000 
 
 178,333 
 
 6 
 
 8 
 
 4,280,000 
 
 208,333 
 
 6 
 
 8 
 
 5,000,000 
 
 £ 1,224,818 
 
 
 
 10 
 
 29.395-585 
 
 It appears, however, from M. Nccker's fpeech to the Etats Generaux, 
 that fufficient allowance had not been made for the extraordinary ex- 
 pences, and that in the courfe of the year the following additional 
 charges had been incurred : 
 
 Part III. 
 
 CLq 
 
 3. Addi-
 
 298 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 3. Additional extraordinary Expences. 
 
 1. Intereft of loan in November 1787 
 
 2. Succours to Dutch refugees 
 
 3. Various unforefeen e.xpences, in confequence of which 
 
 the deficit, exclufive of the icmhour/emens, came 
 to 75,000,000 of livrcs 
 
 Sterling. 
 
 Li'vres. 
 
 £ 500,000 
 
 12,000,000 
 
 37,500 
 
 900,000 
 
 > 
 
 298,769 
 
 7,170,460 
 
 £ 836,269 
 
 20,070,460 
 
 GENERAL ABSTRACT. 
 
 1. Ordinary expences 
 
 2. Extraordinary expences 
 
 3. Additional extraordinary expences 
 
 Total expenditure 
 
 Sterling. 
 
 ^25,124,829 4 6 
 
 1,224,818 O 10 
 
 836,267 o o 
 
 Li'vres. 
 
 604,996,456 
 29,395,585 
 
 20,070,460 
 
 ^27,185,914 5 4 654,462,501 
 
 It is difficult, in giving an account of the finances of a foreign 
 nation, to avoid committing fome miftakes ; but trifling errors in fuch 
 cafes it is hoped will be pardoned. On the whole, however, it is evident, 
 that the ordinary expences exceed the ordinary revenue (including the 
 rembourfemens ) to the amount of 5,472,779/. 13 j. 8^.; that it required 
 7,807,104/. IS. 8d. of extraordinary refources and additional favings, to 
 enable the minifter of finance to make the receipts and iflTues of laft year to 
 balance each other ; and that, unlefs the rembourfemens or finking fund is 
 unwarrantably confifcated for other purpofes (which is equivalent to a 
 public bankruptcy), no lefs a fum than 160,787,492 livres, or fix 
 million fix hundred and ninetyfeven thoufand three hundred and ninety 
 pounds ten Jl:illings^ ferling^ of favings, or additional taxes, will be 
 neceffary to preferve their public credit, and to make up for all the 
 deficiencies exifting at this time **. 
 
 It 
 
 "^ It is evident, that the deficiency in the French finances can only be made up by favings 
 in the prefent expenditure, or by frefli taxes. In regard to the firft, it can hardly be 
 eiFeited to a much greater extent without fliaking the government to its centre. Refpefling 
 
 the
 
 OF THE BRITISH EMPIRE. 
 
 '■99 
 
 Sterli. 
 
 "S- 
 
 
 Li'vrcs. 
 
 ^448.330 
 
 6 
 
 8 
 
 10,760,000 
 
 152,500 
 
 
 
 
 
 3,660,000 
 
 16,5,500 
 
 
 
 
 
 3,900,000 
 
 30,000 
 
 
 
 
 
 720,000 
 
 125,000 
 
 
 
 b 
 
 3,000,000 
 
 401,250 
 
 
 
 
 
 9,630,000 
 
 120,833 
 
 6 
 
 8 
 
 2,900,000 
 
 1 12,500 
 
 
 
 
 
 2,700,000 
 
 54-.i66 
 
 •3 
 
 4 
 
 1,300,000 
 
 £ 1,607,083 
 
 6 
 
 8 
 
 ' 38,570,000 
 
 It appears from the preceding ftatement, that the grols produce of Expence of 
 the ordinary revenue of France is 472,415,549 livres, or 19,683,981/. 
 4 X. 2d. fterling ; but from that fum the following dedudions are in 
 the firfl place to be made : 
 
 GENERAL VIEW of the EXPENCE of colleding the PUBLIC 
 
 REVENUE of France. 
 
 J. Paid to the farmers general 
 
 2. Expence of the general excii'e 
 
 3. The roya! domains 
 
 4. The pays d'etat 
 
 5. The royal treafurers 
 
 6. The capitation, i^c, 
 
 7. The taxes of Paris - 
 
 8. The poft office 
 
 9. The royal lottery - 
 
 The charges of collecSllng the public revenue in Great Britain being 
 only 1,379,872 /. our financial fituation in this refpedl is undoubtedly 
 preferable. 
 
 It is more difficult to make a comparifon between the public incum- Amount of 
 brances of the tVN^o countries, becaufe, though the amount of our debts debt"!"'""^ 
 is pretty nearly afcertained, yet there Is no faying what is the real 
 extent of the debts of France, or what fums are ftill to be brought for- 
 ward. The capital of the French debts, alfo, is in a great meafure un- 
 known. We may compare, however, the intereft paid by the two na- 
 tions to their refpedlve creditors, and the charges connecfted with It. 
 
 the fecond, there are not means or ftamina in the country to carry them much farther; at 
 leafV, the fcarcity of grain v/hlch prevails at prefent muft be a bar for fome time to any 
 fuccefsful attempts of that nature. Even in 1785, the parliament of Paris reprefented to 
 the king, on the occafion of the loan of eighty millions of livres for that year, the impofli- 
 bilityof adding to the revenue. In their own words, " A la fuitedc ces empfunts, il s'eft 
 *' portc quoiqu' avec regret, a enregitlrer des impofitions, qu'il annor.ca des lors c.ie 
 " par leur poids & kur multiplicite, au dejfus des conti ibuables, annonce qui a ete 
 *' verifiee depuis dans quelques provinces /)«>■/' /w/is^Z'/'///^Aj r«(j«WY;w;w." Incfeed in the 
 abilradt already given of the cxpeiices of Frince for the year I7{j8 (articles 46 and 47) 
 the fum 0^370,833/. 6^. Zd. is ftated to the account of difchaiges of taxes which 
 could not be' recovered or levied in the kingdom. 
 
 Qjiz 
 
 The
 
 3O0 HISTORY OF THE PUBLIC REVENUE 
 
 The various expences arifing from the national debt of this country 
 mav be ftated as follows : 
 
 GENERAL VIEW of the NATIONAL DEBT of Great Britain. 
 
 I. Perpetual annuities due to corporations - - £ 588,385 14 o 
 
 2. to individuals — - 7,245,349 15 6y 
 
 jC 7.833.735 9 6i 
 
 3. Funded temporary annuities - - - 1,361,402 4 8 
 
 4. Interell of Exchequer bills ... i73.,98o o o 
 
 5. Intereft of the unliquidated debt - - 100,000 o o 
 
 9,469,117 14 2|: 
 
 6. Charges of management and other expences attending the national debt 151,634 19 ir 
 
 7. Sinking fund for the redudlicn of the debt - 1,000,000 o o 
 
 Total £ 10,620,752 14 li 
 
 Thus, including the finking fund, and the interefl: of the un- 
 liquidated claims, our public debts at prefent require the fum of 
 10,632,191/. 14X. iLd. per annum. 
 
 This branch of the expenditure of France may be thus ftated : 
 
 GENERAL VIEW of the INTEREST of the NATIONAL DEBT 
 in France, and of the SINKING FUND for difcharging the 
 fame. 
 
 Sterling. Livres, 
 
 1. Perpetual annuities - jf 4»833.333 6 8 116,000,000 
 
 2. Ditto on loan in November 1 7S7 - 500,000 o o 12,000,000 
 
 5'333'333 ^ ^ 128,000,000 
 
 3. Life annuities - • 4,321,251 14 2 103,710,041 
 
 9,654,585 o 10 231,710,041 
 
 4. iJmiowiyJwM/ or finking fund r 3,187,598 17 o 76,502,367 
 
 12,842,183 17 10 308,212,408 
 
 5. The unfunded debt, by anticipations and otherwife, 
 
 muft at leaft amount to 320,000,000 of livres of 
 capital, being only double the deficit of 1788, 
 the interell of which cannot be calculated at 
 lefs than 5 /rr «»/. hence - - 666,666 o o I3>333>333 
 
 C 13.508,849 17 10 321,545,741 
 
 But
 
 OF THE BRITISH EMPIRE. 
 
 30i 
 
 But to this there ought to be added the income of a variety of 
 offices fold by the crown, which are properly the eftate or inherit- 
 ance of the pofleflTors who hold them, and are defcendible to their 
 heirs ; of which indeed they cannot be deprived unlefs the fums for 
 which they were purchafed are repaid ; and as many of them are 
 of a judicial nature (for thefe charges^ as they are called, include the 
 parliaments or courts of juftice in France), the crown could gain but 
 little by a change of fyftem, as other judges, with fufficient falaries, 
 muft be appointed in their room. On the whole, I am perfuaded that 
 France is indebted atleafi; from three to four millions fterling^^r annum 
 more than Great Britain, without ..being poflefled of the fame political 
 advantages for diminifhing the burden ; though it mufl: be acknow- 
 ledged, that the fuperior amount of the temporary annuities among 
 the various articles of which its debts are compofed, together with the 
 magnitude of its finking fund, if it can be preferved undiminifhed, are 
 greatly in its favour. 
 
 The army, the ordnance, and the militia, required In this country, in Military ex- 
 the courfe of the year 1788, the fum of 2,614,359/. lis. 8d. In P^""^" 
 France much heavier charges were incurred. 
 
 GENERAL VIEW of the MILITARY EXPENGES of France, 
 
 anno 1788. 
 
 I. 
 
 2. 
 
 3- 
 
 4- 
 5- 
 6. 
 
 7- 
 8. 
 
 9- 
 10. 
 
 II. 
 
 J2, 
 
 The ordinary expences 
 
 Extraordinaries 
 
 Ordinary garrifons 
 
 Pay of artillery 
 
 Pay of engineers 
 
 General expences of artillery 
 
 Fordficarions 
 
 Marechauflee 
 
 Militia 
 
 Expence of troops inarching 
 
 Barrack expences 
 
 Additional exuaordinary expences in 1788 
 
 Sterling. 
 
 
 Livret, 
 
 ^277,166 
 
 •3 
 
 4 
 
 6,652,000 
 
 3,130,250 
 
 
 
 
 
 75,126,000 
 
 81,916 
 
 •3 
 
 4 
 
 1,966,000- 
 
 187,500 
 
 
 
 
 
 4,500,000 
 
 41,666 
 
 13 
 
 4 
 
 J, 000,000 
 
 175,000 
 
 
 
 
 
 4,200,000 
 
 137,500 
 
 
 
 
 
 3,300,000 
 
 164,166 
 
 '3 
 
 4 
 
 3,940,000 
 
 i8,7jo 
 
 
 
 
 
 450,000 
 
 106,916 
 
 13 
 
 4 
 
 2,566,000 
 
 9S'833 
 
 6 
 
 8 
 
 2,300,000 
 
 49,166 
 
 '3 
 
 4 
 
 1,180,000 
 
 £ 4.+65.833 
 
 6 
 
 8 
 
 107,180,000 
 
 Nor
 
 ]0Z 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 The navy. 
 
 Nor is it very probable, confideving the immenfe body of troops 
 •vv'hich Fi'ance muft neceflarily keep up even in time of peace, and the 
 garrifons and fortifications which it muft maintain for the fecurity of 
 its extenfive frontier, that any material diminution can take place ia 
 this branch of its expenditure. The expence of the army, indeed, is 
 more likely to increafe than to decreafe ; for if the nobility are to be 
 taxed, they can no longer afford to ferve their country on the lame 
 terms, and the pay of their common foldiers is at prefent fo very fmall 
 that an addition cannot much longer be prevented. 
 
 The NAVY of France, including COLONIAL EXPENCES, 
 
 cofts the following Sums : 
 
 Sterling. Livres. 
 
 £ 1.208,333 6 
 
 Ordinary of the marine 
 
 Fund for equipping fliips 
 
 Repairing and building Ihips 
 
 Expence of hofpitals 
 
 Buildings - - - 
 
 Secret fervices 
 
 Weft Indian colonies 
 
 The ifles of France and Bourbon 
 
 Pondicherry and fadories in the Eaft Indies 
 
 83.333 
 74,166 
 25,000 
 
 33-333 
 
 12,500 
 
 200,000 
 
 >-83.333 
 62,500 
 
 6 
 
 «3 
 o 
 
 6 
 
 o 
 
 o 
 
 6 
 
 o 
 
 _£ 1,882,500 o o 
 
 29,000,000 
 
 2,000,000 
 
 1,780,000 
 
 600,000 
 
 800,000 
 
 300,000 
 
 4,800,000 
 
 4,400,000 
 
 1,500,000 
 
 45,180,000 
 
 In this department, the charges of Great Britain, as they ought to do, 
 evidently preponderate ; fmce our navy laft year required 2,350,000/. 
 It ispropofed, however, to reduce this expence in future to 1,800,000/. 
 per annum. But -furely the minifter who propofes fuch a redudtion 
 merits the execration of his country ; for if a fingle {hilling can be 
 faved from other fervices, the natural bulwark of the kingdom ought 
 not to be fo miferably ftinted. 
 
 Royaihoufe- The ORDINARY EXPENCES of the Court of France are 
 
 iu)ld. 
 
 1 . The king's houfehold 
 
 2. The queen's houfehold 
 
 3 . The other branches of the royal family 
 
 s follows : 
 
 Sterlitig, 
 
 I 720,625 
 
 135.833 6 
 436,125 
 
 
 8 
 
 
 Livres. 
 
 17,295,000 
 
 3,260,000 
 
 10,467,000 
 
 
 I 1,292,583 6 
 
 8 
 
 31,022,000 
 
 8 
 
 In
 
 OF THE BRITISH EMPIRE, 
 
 In this refped, undoubtedly, the expences of Great Britain are 
 greatly inferior ; but it cannot be queftioned, that from the nature of the 
 government of France, and from the fpirit of the people, a court of 
 much greater fplendour and magnificence is eflential there, and con- 
 fequently that the fums devoted to purpofes of that kind muft ever 
 be more confiderable in that country. 
 
 The PENSIONS paid by the Court of France amount to the Penfions. 
 
 following Sums : 
 
 Sterling. 
 
 1. In the department of war - .- - C^AS'^il ^ ^ 
 
 2. In the department of the navy - - 83,333 6 8 
 
 3. In the department of foreign affairs - - 20,833 6 8 
 
 4. In the royal houfehold . - . 166,666 13 4 
 
 5. In the branches of the law and the revenue - 208,333 ^ ^ 
 
 303 
 
 Liiirei. 
 15,500,000 
 2,000,000 
 
 500,000 
 4,000,000 
 5,000,000 
 
 ■ ^ 
 
 j^ 1,125,000 o 
 
 27,000,000 
 
 However enormous this fum may appear, yet it is to be confidered 
 that it includes the half-pay both of the navy and army, and the 
 penfions and compenfations to the difmiffed officers of the royal 
 houfehold. Thefe expences, if accumulated, in this country, into one 
 fum, would not be fo difproportionate, as at firft fight might be fup- 
 pofed. 
 
 GENERAL VIEW of PENSIONS, COMPENSATIONS, 
 and other PUBLIC ALLOWANCES in Great Britain. 
 
 1 . Penfions and compenfations paid out of the civil lift 
 
 2. Half pay of land forces and marines 
 
 3. Half pay of American forces _ . . 
 
 4. Ditto <)f Scotch brigade - - - 
 
 5 . Widows of commiffioned officers - - 
 
 6. Supernumerary officers - - - - 
 
 7. Compen{ations to reduced officers of the horfe grenadier guards 
 
 8. Allowances to reduced officers of the horfe guards 
 q. Penfions and allowances to fuperannuated fca officers 
 
 10. Half pay to fea officers . _ _ . 
 
 1 1 . Bounty to chaplains ... 
 
 12. Chelfea hofpital and out penfioners 
 
 13. Greenwich hofpital 
 
 173,883 
 75.200 
 
 £ iz5'757 o 
 173,000 o 
 
 60,000 o 
 
 3,392 14 
 13,302 14 
 
 4,273 2 
 
 3,768 12 
 
 223 17 
 
 40,382 I 
 
 175,000 O 
 
 1,231 17 
 
 II 
 
 600,331 19 o 
 249,083 I 9 
 
 X 849,415 o 9 
 
 The
 
 304 
 
 Foreign de- 
 partment. 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 The fuccefs -which has in general attended the foreign politics of 
 France, and the influence which it has acquired in other courts, there 
 is every reafon to believe is fully as much owing to the expences 
 which it lays out in attaining thefe objeifts, as to the ability of its 
 minifters. For after many redud:ions the charges of the department 
 for foreign affairs may be flated as follows : 
 
 it' 
 
 I. 
 
 2. 
 
 3- 
 4- 
 5- 
 
 Ordinary fervice ... 
 
 SubfiJles and other afliftance 
 
 Funds in referve 
 
 The Swifs league 
 
 Extraordinary fubfidies and expences 
 
 Sterling. 
 
 I 191,666 13 
 
 137,500 
 
 16,666 13 
 
 34,583 6 
 
 219,166 13 
 
 4 
 
 
 4 
 8 
 
 4 
 
 Li'vret. 
 
 4,600,000 
 
 3,300,000 
 
 400,000 
 
 830,000 
 
 5,260,090 
 
 
 C 599.583 6 
 
 8 
 
 14,390,000 
 
 l?ublic works. 
 
 As this department in Great Britain does not coft us, in general, 
 above 100,000/. a year*, we certainly contend with France, in 
 foreign courts, to very great difadvantage. But it may be aflced, does 
 that country really gain much political ftrength by all its intrigues, 
 and by the expences which they occalion ? Is it in any refpedt 
 ftronger or more refpedtable now, than it was fifty years ago ? What 
 real benefit has it reaped from the wily artifices of Vergennes, or thofe 
 of his predecefTors ? May fuch diabolical fyftems for throwing other 
 nations into confufion, that one country may have the appearance of 
 more ftrength, from the reduced and miferable fituation of others, ever 
 meet w'wh. the fame fate ! and may thofe Hates themfelves experience 
 the evils of anarchy and diforder, who wifh to involve their neighbours 
 in fuch calamities ! 
 
 The only other expence which remains to be minutely flated, Is 
 th^t of certain public works, which in France are carried on at the 
 expence of the crown, but which in this country are in a great 
 meafure defrayed by individuals. Under this head the following 
 fums, divided into the ordinary and extraordinary, are ftated in the 
 French accounts. 
 
 ' In this fum the Heflian fubfidy of 36,093/, 15/. is not included. 
 
 I. Ordinary
 
 OF THE BRITISH EMPIRE. 
 
 305 
 
 I. Ordinary Expences. 
 
 Bridges and caufeways 
 
 Embankments 
 
 For the improvement of harbours 
 
 Canals 
 
 Pavement of Paris 
 
 S/er/i'ng, 
 
 
 Li Ills. 
 
 162,500 
 
 
 
 3,900,000 
 
 20,833 6 
 
 3 
 
 500,000 
 
 33>333 6 
 
 8 
 
 800,000 
 
 29,583 6 
 
 8 
 
 710,000 
 
 25,416 13 
 
 4 
 
 610,000 
 
 :7i,666 13 4 
 
 6,520,000*' 
 
 2. Extraordinary Expences. 
 
 225,000 
 
 
 
 
 
 5,400,000 
 
 84,583 
 
 6 
 
 8 
 
 2,030,000 
 
 2,500 
 
 
 
 
 
 60,000 
 
 52,500 
 
 
 
 
 
 1,260,000 
 
 6,250 
 
 
 
 
 
 150,000 
 
 " 642,500 
 
 
 
 
 
 15,420,000 
 
 1 . The port of Cherbourg 
 
 2. Other harbours 
 
 3. The navigation of the Meufe 
 
 4. Roads and bridges 
 
 5. At Lyons and Valence 
 
 In regard to the various other mifcellaneous expences which occur 
 in France, it is evident, both from the fuperior extent and the greater 
 population of that kingdom, and from the diiference between the 
 governments of the two countries, that thofe of France muft ever be 
 on a greater fcale ; and indeed that it muft prove very difficult to re- 
 duce them within any reafonable bounds, whilft the French are 
 willing to have a Gratid Monarque^ whofe right to that name muft 
 in fome degree be juftifiied by wafte, extravagance, and fplendour. 
 
 I have thus endeavoured to condenfe within a fmall compafs the Conclufion. 
 moft important particulars regarding the relative financial fituation of 
 Great Britain and of France. It were to be wiQied by the real patriots 
 of both, that the unfortunate rivalfhip, that has fo long fubfifted be- 
 
 * When the above ftatement Is confidered, the trifling pittance annually voted for the 
 military roads in Scotland, in a great meafure necefiary for the accommodation of the 
 troops who march through that part of the ifland, and which is the only fum expended 
 for a fimilar purpofe, muft appear truly contemptible. As to the extraordinary expences, 
 we have nothing refembling them at prefent, unlefs the fums laid out on the harbours of 
 Portfmouth and Plymouth : for the military department (fee p. 301.) includes the for- 
 tifications in France. 
 
 Tart III. F. r tween
 
 3o6 HISTORY OF THE PUBLIC REVENUE 
 
 tween them, had never taken place ; In which cafe both kingdoms 
 ■would have been in a very different ftate. A fatal jealoufy left the 
 one fhould too much predominate in Europe, and the other in 
 America, has only had the effedl of reducing both to diftrefs, and of 
 giving confequence to other powers whofe importance would other- 
 wife have been leffened. Satiated with fruitlefs contefts, let both 
 nations now endeavour to compenfate for their paft errors by mutual 
 forbearance for the future. Let them begin on a new fyftem. Let 
 them rival each other in the arts of peace, and ftruggle which fliall 
 moft contribute to the general happinefs of the fpecies ; and other 
 pov/ers muft either imitate their example voluntarily, or muft fubmit, 
 however reludantly, to the didates of an authority, which, if exerted 
 for fuch generous purpofes, it would be difficult for any other con- 
 federacy to oppofe or control ^. 
 
 * The fituation of the French finances was certainly never Co well known as at prefent. 
 At the fame time it has been a point to which the politicians of this country have ever 
 paid attention. More particularly there was publifhed anna 1742, An Inquiry into the 
 Revenue, Credit, and Commerce of France: A Letter to the Author of that Inquiry; 
 and Remarks both on the Letter and on the Inquiry. In the year 1744 alfo there was 
 printed, An Account of the Number of Men in the Provinces and Towns of France, 
 taken by the King's Orders in 1743, together with the Revenue and Expences of France, 
 in the Years 1741 and 1742, with the Amount of each Article of Expence, and the Pro- 
 duce of each particular Tax. And Sir James Stewart, in his Principles of Political Eco- 
 nomy, printed tinno 1767, dedicated fome part of his valuable work to the difcuflion of 
 the fame fubjeit. Thefe hints are thrown out for the information of thofe who may be 
 defirous of tracing the progrefs of the revenue of that kingdom, in fo far as it can be 
 known from the publications of this country. In regard to the prefent ftate of the 
 French finances, it is univerfally admitted, and is acknowledged by M. Necker himfelf, 
 in his famous fpeech to the Eiats Generaux, on the 7th of May 1789, that there exifts 
 a great difproportion between the public income and expenditure. To whofe adminiflra- 
 tion that deficiency ought to be attributed, has been the fubjedt of as interefting a 
 political controverfy as any period has witnefTed, in which both parties have (hewn a 
 profound knowledge of the fcience of finance, and abilities which no common competitor 
 could rival. But it is not propofed to enter into the debate between fuch formidable 
 combatants, on grounds with which they alone can be acquainted, and refpeftirg points 
 not materially interefting to this countryi
 
 OF THE BRITISH EMPIRE. 307 
 
 CHAP. VI. 
 
 Of the Revenue of Scotland, 
 
 HISTORIANS differ materially in the reprefentations they give 
 of the ancient revenue of the Scottifh monarchs. By one ce- 
 lebrated author we are told, that their income was fcanty and pre- 
 carious ; and that they were kept in continual indigence, anxiety, and 
 dependence " ; whereas it is aflerted by others, that fuch accoimts are 
 greatly exaggerated ; and that our kings poffeifed property and wealth 
 fully adequate to their wants, and at leaft equal, in proportion to the 
 extent and opulence of their dominions, to thofe of the other princes 
 of Europe '. The controverfy is far from being of effential importance 
 in thefe times ; and the refult of an impartial inquiry probably would 
 be, that fuch of the Scottifh monarchs as had abilities calculated for 
 their ftation, had feldom much reafon to complain of pecuniary diffi- 
 culties ; whereas fuch as were negligent in their affairs, or were pro- 
 fufe to needy favourites, and trufted the government of the country 
 to minifters unworthy of the confidence placed in them, were ne- 
 ceffarily involved in perpetual mifery and diflrefs. 
 
 The fources of their revenues were fimilar to thofe of the other 
 kingdoms of Europe at that time. They pofTelfed confiderable do- 
 mains, which on the one hand were perpetually diminifhing by grants 
 
 •• Robertfon's Hiftory of Scotland, vol. i. p. 14. fecond edition, quarto. 
 ' Buchanan, Hift. lib. iv. cap. 32. edit. 1762. Stuart's Obfervations concerning the 
 public Law of Scotland, chap. iii. feft. i. p. 45. Abercrombie's Martial Atchievements, 
 vol. iv. p. 161. edit. 1762. Nay, according to Guthrie, General Hiftory of Scotland, 
 vol. 1. p. 324. the revenues of Scotland, in the reign of David I. contemporary with 
 Stephen of England, were very little, if at all, fliort of thofe of England. See alfo Shake- 
 fpear in Macbeth, ad iv. fcene 3. 
 
 — — " Yet do not fear 
 « A ftaunchlefs avarice, that, were you king, 
 " You fliould cut ofF the nobles for their lands, 
 " Defire his jewels, and this other's houfe : 
 •' Scotland hath foyfons (plenty) to fill up your will, 
 *' Of your mere own." 
 
 R r 2 to
 
 3o8 HISTORY OF THE PUBLIC REVENUE 
 
 to individuals, and a profufe liberality to the church ; and on the 
 other, received continual acceflions from the confifcations which were 
 continually taking place in ages of fuch turbulence and confufion. 
 The fovereigns of Scotland alio enjoyed the fame lucrative prerogatives, 
 which have been already defcribed as belonging to thofe of England. 
 The cuftoms, mines, and filhings, were not unproductive. Occafion- 
 ally they pofleffed valuable property and eftates in England ; and it 
 will be feen in the progrefs of this chapter, that taxes were fometimes 
 levied on great emergencies for public purpofes. 
 
 By fome writers the extent of the royal domains of Scotland has 
 been difputed. In the colledlion of laws attributed to Malcolm II. " 
 it is faid, that the king " gave and diftributed all his lands of the 
 " realm of Scotland amongft his men, and referved nathing in pro- 
 " pertie to himfelfe, but the royall dignitie, and the Mute-hill of Scone; 
 " and all his barons gave and granted to him, the ward and releife 
 " of the heire of ilk Baron, quhcn he fhould happen to deceis, for 
 " the king's fuftentation." There is every reafon, however, to be- 
 lieve, that this law was either differently worded in the original, or is 
 entirely fpurious. It is hardly pofTible to believe that any prince, 
 particularly fo able a monarch as Malcolm, would give away the 
 whole property of the crown, and reftrict himfelf to fo precarious a 
 revenue as the income of wardfhip and relief; which, in a later period, 
 anno 1474, produced only 1,483/. 19J. old. of the money of Scotland 
 at that time '. It is certain, that both Malcolm and his fucceflbrs were 
 afterwards pofTefTed of confiderable trads of territory ; and David, 
 king of Scotland, who died 24th May 1153, was able to ere£l by 
 grants from his domains, four new bifhoprics, nine capital abbies, 
 four priories, and two nunneries, the revenues of which amounted to 
 no lefs a fum than one hundred and twenty thoufand franks ". When 
 the Englifh hlftorians alfo inform us, that WilUam the Conqueror be- 
 ftcwed on his followers all the lands of England^ the royal domains, 
 it is well known, were not comprehended in the grant. In the fame 
 manner it is probable, that Malcolm's donative, if it ever exifted, con- 
 
 " Publiflied by Skeene the antiquary, together with the books of Regiam Majeftatem. 
 Many perfons, however, are of opinion, that Malcolm III. was thx author of them, and 
 urge very ftrong arguments in fupport of that idea. 
 
 ' Maitland's Hiftory of Scotland, vol. i. p. 328. "" Guthrie, vol. i. p. 234. 
 
 tained
 
 OF THE BRITISH EMPIRE. 
 
 talned only fuch lands as were nor unalienably annexed to the crown, 
 and confequently might be legally difpofed of". 
 
 The firft tax levied in Scotland, at leaft fo far as can be traced by William. 
 record °, was for the purpofe of procuring from the Englifh crown a 
 full and complete renunciation of its claims to the homage and de- 
 pendency of that country. William the Lion, as he is fometimes 
 called, was unfortunately taken prifoner by the Engliili, whilfl; he was 
 befieging the caftle of Alnwick, in Northumberland. In order to pro- 
 cure his releafe, both the king and the people of Scotland became bound 
 to acknowledge the feudal fuperiority of the Engliili crown ; and 
 Henry II. then king of England, a(ftually received the homage of 
 William and his fubjedts. But Richard I. Henry's fucceflbr, im- 
 pelled by a paflion for military glory, and an ardent zeal to defend 
 the Chriftian caufe againft the attacks of infidels, refolved to lead 
 an army to the Eaft for fo popular a purpofe ; and in order both to 
 procure money for fo diftant, and confequently fo expenfive, an expe- 
 dition, and to conciliate the favour of his moft dangerous neighbour, 
 and preferve his dominions in peace during his abfence, he agreed, in 
 confideration of 10,000 marks, fterling, to abandon, and folemnly to re- 
 nounce, all claim to the homage of the Scottifh crown. It if im- 
 poffible at prefent to afcertain whether the fum was levied by volun- 
 tary contribution, by the authority of the crown, or by the fandion 
 
 " See farther upon this fubjeil, Maitland, vol. i. p. 319, &c. Guthrie, vol. i. p. 226. 
 229, (sfc. 
 
 ° Buchanan fays, that Mogaldus, the twenty-third king of Scotland, enabled, that the 
 property of fuch as were condemned by law fhould be forfeited to the exchequer, and that 
 no part of it fliould be given to their wives or family. Hifl:. lib. iv. cap. 30. edit. 1762. 
 That Conarus, his fucceiTor, in vain propofed, that a valuation fhould be made of every 
 man's eftate, and that a proportionable tax fhould be inipofed on each individual, for 
 the better fupport of the crown. So far from fucceeding, he was depofed as unfit to 
 reign, for fquandering the royal patrimony, and making fuch a propofal. And it was 
 publicly aflerted, " ^od falfam ejje querelam reg'tas opes fumtibus ejfe impares. ^ippe 
 " qui bus tot fuperiorcs reges bello dart tf formidabiles hojiibus in pace honejie y fplendide 
 *' vixerint. ^uod ft cui patrimonium publicum augujlius videatur, non e civiiim direptione, 
 " fed a parfimonia dotneflica quod decj} fupplendum." Ditto, cap. 32. He alfo flates, that 
 in the reign of Malcolm II. the lucrative feudal prerogatives were annexed to the crown, 
 lib. vii. cap. 51. Thcfe are the only particulars recorded by that elegant and cla/Iica!, 
 but too often partial and credulous hiftorian, with regard to the more ancient revenues of 
 the Scottifh monarchs. ' 
 
 of
 
 3IO HISTORY OF THE PUBLIC REVENUE 
 
 of parliament. It is only known, that, as it was intended for the 
 general benefit, it was not paid from the private revenue of the 
 fovereign (too inconfiderable indeed to bear fuch a burden) ; but by 
 the public at large ''. 
 Alexander The revenues of Scotland during the reign of this monarch may be 
 
 ^"- pretty nearly afcertained. Anno 1250, a meeting was held at York, 
 
 to fettle a treaty of marriage between Alexander III. and Margaret, 
 daughter of Henry III. of England. The queen dowager of Scotland 
 appeared on the occafion with peculiar fplendour, her revenues amount- 
 ing, we are told, to 4,000 marks per annum. The widow of a 
 monarch then enjoyed a third part of the royal income ; confequently 
 the whole muft have produced 12,000 marks". 
 
 It is alfo to be remarked, that Alexander gave only 14,000 marks 
 with his daughter Margaret, when fhe was efpoufed to Eric king of 
 Norway. It is true, that the vafials of the crown, by the principles 
 of the feudal fyftem, were obliged to afTift their fovereign on fuch an 
 occafion ; but it is rather improbable, that the king would much exceed 
 one year's rent of his eftates. A tax in aid of the crown was then 
 levied ; and, if we may believe an eminent lawyer who has written 
 upon the fubjed, all the lands of the kingdom holding of the crown 
 were valued ; and the rate at which they were then eftimated, has 
 fmce been known under the name of the old extent \ 
 RobertBruce. The fuccefsful valour of this deliverer of Scotland was rewarded in 
 a manner hardly to be paralleled in any feudal kingdom. Permanent 
 
 P Lord Kai tries, in his Hiftorical Law Trails, p. 41. fuppofes that it was levied by 
 voluntary contribution. Dr. Gilbert Stuart, Obfervations, p. 66. contends, on the other 
 hand, that it was levied by parliamentary authority. I am rather inclined, however, to 
 imagine, from the deed quoted by lord Kaimes, that the money was raifed by the authority 
 of the crown ; the monies of the Ciftertian order, before they paid the money to the 
 king, having infifted upon a deed by which it was declared, that the contribution fliould 
 not be made a precedent of for the future. Such a claufe would not have been neceflary, 
 had it been either a voluntary contribution, or a parliamentary tax. 
 
 ■) Matt. Paris ad annum 1250. Yet as Guthrie obferves, vol. i. p. 396. her income 
 in another place is faid to be 7000 marks a year, by the fame author. 
 
 ' Kaimes, Hiftorical Law Trafts, p. 423. Dr. Stuart, however, on lord Hailes' au- 
 thority, proves that there was one ftill more ancient, p. 203. But though there were 
 older valuations, that which took place in the reign of Alexander IIL might in after- 
 periods be diftinguifhed by the name of the old extent, when oppofed to later ones, 
 
 7 taxes,
 
 OF THE BRITISH EMPIRE. 311 
 
 taxes, k Is well known, were contrary to the general nature and prac- 
 tice of that fyftem. It was held, that the crown had no title, 
 except on very particular occafions, to any income but what arofe 
 from the royal domains. The crown lands, however, in the courfe 
 of the wars between the Scotch and EngliQi, during the reign of 
 Edward I. of England, had fuffered fo materially, that they were 
 evidently inadequate to the maintenance of the fovereign ; and Ro- 
 bert Bruce, having in vain attempted a refumption, found himfelf 
 reduced to the neceflity of petitioning his fubjeds for a fupply. 
 Accordingly, in a parliament held aniio 1326, a fubfidy of the 
 tenth penny was granted to continue during the king's life '. 
 
 The fon of Robert Bruce was not fo fortunate a warrior as his father. David ii. 
 Inftigated by the king of France, who was defu-ous of diverting the 
 forces of Edward III. from attacking his dominions, David invaded 
 England ; but, in the courfe of a battle fought near Durham, vpas 
 taken prifoner. His captivity lafted above ten years, nor was he re- 
 leafed until he became bound to pay, by way of ranfom, 100,000 
 marks ' ; and having failed in making regular payments, it was after- 
 wards increafed, by the penalties incurred, to 100,000/. fterling, at- 
 tended with this fmgle alleviating circumftance, that twenty-five years 
 were allowed to difcharge it. Robert the fecond, his fucceflbr, under- 
 took to pay what was due at David's death, amounting to about 
 56,000/. "; and being very pundual in fulfilling the obligation he had 
 entered into % the whole fum was completed, and a difcharge in full 
 was granted by Richard II. on the ift of December 1383 \ 
 
 There ftill remain two rolls, which, though rather Incomplete, 
 furnifh evidence fufficiently fatlsfadory of the revenues and expences 
 
 » The original of the indenture which proves this curious and important tranTadioti 
 is to be feen in the advocates library at Edinburgh. It has of late been publilTied by 
 different authors, particularly lord Kaimes, and Dr. Stuart. 
 
 ' The difcerning and ingenious annalift of Scotland has traced the payment of this 
 ranfom with much greater accuracy than any preceding hiftorian. See Annals of Scot- 
 land, by Sir David Dalrymple, vol. ii. p. 260, 261, 262^ 
 
 " Guthrie, vol. iii. p. 92. 
 
 =■ Ditto, p. 102, and 128. 
 
 1 Rymer's Focdera, f. vii. p. 417.
 
 Ii2 HISTORY OF THE PUBLIC REVENUE 
 
 of the Scottifh crown at the commencement of David's reign. The 
 lirfl: is, an account by Reginalde More, lord chamberlain of Scotland, 
 of the receipts and iflues from 9th December 1329, to 20th June 
 1330. The total receipts, including 84/. is. id. of crown rents, &c. 
 amoniUedonly to 1,685/. ^^^- '^^'^- and the expences to 3,436/. Sj. ^d. 
 The furphis expenditure confequently was 1,750/. 12 j. 2\d. The other 
 contains the receipts and expences from the 14th March 1330, to the 
 14th December 1331. The whole receipts during this period came to 
 9,415/. 13^'.; the expences to 1 1,047/. ^S^' 7^^- ■' ^'^^ ^^^^^ there was 
 another deficiency to the amount of 1,632/. 2s. ']\d. That there 
 iliould be fuch an unfavourable balance is not to be wondered at ; for 
 there is included in the account of the expenditure, the fum of 6,866/. 
 13/. 4^. in complete payment of 30,000 marks, which, by the treaty 
 of peace concluded between England and Scotland, the latter was 
 obliged to pay, to compenfate for the damage which the Englilh had 
 recently fuftained by the Scottifh incurfions \ 
 
 The period to which this account relates, exceeding the fpace of a 
 year ; and there being included in it fome contributions to aid the 
 crown in difcharging its debts to England, renders it difficult to make 
 an exa£t calculation of the royal income. It appears, however, that 
 there was received in the above period 487/. 2J-. \d. from the different 
 towns in the kingdom, and 12/. Yd^s. i-Ld. from that of Lanark. The 
 cufloms yielded i,jg/\.L gs. (>\d. The -various feudal prerogatives, for 
 the colle£ling of which the flierifTs in the different counties were re- 
 fponfible, came to 1,474/. i8j-. o^d. making in all 3,769/. 3J-. lod. 
 The account was for the fpace of about twenty-two months ; con- 
 fequently the receipts per monih. would be 171/. 6s. 6-^d. and per 
 animm 2^22^1. /\.s. g^d. of the money of Scotland at that time. 
 
 As to the real value of this ium, we are enabled to form an 
 idea from the price of different articles being inferted in thefe ac- 
 counts. It appears from them, that a ton of wine came only to 
 3/. 6s. Bd. Scotch, that feven chaldron two bolls of wheat came 
 to 91/. 19-f. lOj^. Scotch; which is about i6s. ild. per Scotch 
 boll, and 1/. is. ^\d. per Englifh quarter; that the price of 
 a mart, or ox, fatted to be killed at the term of Martinmas 
 == Annals of Scotland, vol. ii. p. 128. 
 
 ia
 
 OF THE BRITISH EMPIRE. jij 
 
 in November, was los. or lod. flerllng; and the price of a fliecp 
 only 14^. Scotch '. Thus, though the fum was finall, its real value 
 was not inconfiderable ''. 
 
 It has often been remarked, that the houfe of Stuart may claim the James I. 
 fatal pre-emuience over almoft every other royal family in modern 
 times with regard to the diftrefTes which they experienced ; and among 
 them, James, the firft of that name, of Scotland, was, upon the whole, 
 the mod unfortunate : — Expofed In his infancy to the dangerous plots 
 of an ambitious uncle whilft endeavouring, at the age of only four- 
 teen years, to fecure himfelf from his perfidious attempts; unjuftly feized 
 upon by a neighbouring monarch ; by him and his fucceffbrs held In 
 captivity for about fourteen years ; at the end of that period obliged to 
 give fecurity for more than the charges incurred In the courfe of his 
 detention ; and after a turbulent reign at home of only thirteen years, 
 at lafi: treacheroufly aflafllnated by his own fubjefts. A picture, on the 
 whole, of royal mifery hardly to be paralleled ! 
 
 The fum required by the court of England for releafmg the captive 
 monarch was 60,000 marks, or 40,000 /. Jlerling. Of this fum It would 
 appear, that 10,000 marks were remitted, at the defire of Thomas duke 
 of Exeter ; and 10,000/. or 15,000 marks, were given by way of 
 dowry with Jane of Somerfet, a princefs of the royal blood of England, 
 who was married to the Scottlfh monarch. Of the remaining 35,000 
 marks, only two partial payments, amounting to 950 marks, are extant 
 upon record ^ The exadiion of It Indeed was unjuft. The Englifh 
 demanded above 2,000/. a year for the king's alimony : whereas he 
 was at firft maintained for only twenty fhllllngs a day'' j and after- 
 wards Sir John Pelham, in whofe cuftody he was placed, was allowed, 
 in full of every expence, no more than 700/. per annum, James, 
 however, endeavoured to fulfil the obligations under which he had 
 come. He affembled a parliament on the 26th May 1424, with \ 
 view of levying, by the authority of that aflembly, the fum ne- 
 ceflary to difcharge the firft moiety of 10,000 marks, As the heirs 
 
 * See printed Rolls, p. 6. 
 
 " The author is indebted for thefe two accounts to Mr. John Davidfon, clerk to the 
 fignet, juftly celebrated for his extenfive knowledge in the legal antiquities of Scotland, 
 « Abercrombie, vol. iv. p. 42 and 51. ^ Rymer, vol. ix. p. 189. 
 
 Part III. Sf of.
 
 JI4 HISTORY OF THE PUBLIC REVENUE 
 
 of twelve of the firft families in Scotland were hoftages for the punctual 
 payment, it may eafily be fuppofed that every exertion was made in 
 order to raife it ; but fuch was then the impoverifhed ftate of Scotland, 
 ruined by inteftine commotions, and defolated by foreign invaders, that 
 even that fmall fum could not be levied. The Scots, it is true, were 
 little accuftomed to taxes ; and the period fixed upon being only fifteen 
 days, was undoubtedly too fhort. Indeed the fubfidy came in with 
 fuch difficulty, and encountered fo many obftacles, that the greater part 
 of it was obliged to be remitted, and only one payment was adually 
 made '. 
 
 In order to raife the fum demanded for the king's releafe, two a£ls 
 ■were paffed which are not publifhed in the common edition of the 
 Scotch ftatutes '. By the firft % intitled " Of finance to be made for 
 " the king's coftage in England," a tax of twelve pence in the pound 
 was laid on all goods and rents, excepting drawing oxen, riding horfes, 
 and utenfils of houfe ; and by the other, the following taxes were im- 
 pofed " : 
 
 Scotch Money. 
 
 On each boll of wheat - • «• ;^ o 2 o 
 
 On each boll of rye, bear, or peafe - - 014 
 
 On each boll of oats i-...! -.•■ - - 006 
 
 On each cow and her follower of two years old - 068 
 
 On each wether, fow, Ssfc. - - 010 
 On each drawing or ploughing ox of and above three 
 
 years old - - - - 060 
 
 On each wild mare and her follower of three years old 010 o 
 
 ' Buchan. lib. x. cap. 27. Abercrombie, vol. iv. p. 50. Lord Kaitnes, Hiftorical 
 Law Tradls, p. 431. fays, upon the authority of the continuator of Fordun, lib. xvi. 
 cap. 9. that the tax amounted the firft year to 14,000 marks ; that the fecond year it pro- 
 duced much lefs ; and the people murmuring at it more and more, it was no longer con- 
 tinued. See alfo Guthrie, vol. ii. p. 235. 
 
 ^ They are to be feen only in what are called the black a6ls, becaufe printed in the 
 Saxon characters. 
 
 s 1 Jac. L cap. 10. 
 
 •" Cap. II. intitled, «* Of the manner of taxation to be maid in the realm." In this 
 8.5^, regulations are alfo enaded as to the taxation of the poundage. 
 
 10 It
 
 OF THE BRITISH EMPIRE. 515 
 
 It Is not to be wondered at that fuch taxes, impofed upon a people 
 whofe principal wealth confifted in their cattle, fhould occafion much 
 clamour J and confequently that it was found impoffible to perfevere in 
 levying it. With regard to the Scottifh hoftages (as we have no account 
 of their being rekafed), it is fuppofed that they either died in England 
 or were difmiffed, when, in confequence of the conteft between the 
 houfes of York and Lancaller, both parties found it neceflary to culti- 
 vate the friendfhip of Scotland '. 
 
 James, however, not daunted by the oppofition v/hich thefe taxes 
 met with, made two other attempts of a fimilar nature. The nrft was 
 upon the marriage of his daughter Margaret to Lewis, eldeft fon to 
 Charles king of France. No dower, it is true, was given with the 
 young princefs ; for her fortune confifted only of a retinue of 6,000 
 men, who were to adt as auxiliaries to the French, and to be maintained 
 at their expence. But as the French, at that time feverely prefled by 
 the Englifh, could not fend vefl'els for their conveyance, it was neceflary 
 to equip a fleet, to carry over the bride, and her formidable train, in fafety 
 to the continent. The Scots, it was imagined, would cheerfully contri- 
 bute to fo popular a purpofe ; but on the contrary, we are told, that the 
 greater part abfolutely refufed to pay ; and the king found it neceflary, 
 in order to remove the difguft which it had occafioned, to reftore what 
 had been exadled ^ 
 
 Another fubfidy was procured from parliament, to be employed 
 in fupprefling the commotions which had taken place among the 
 turbulent Highlanders '. It was a tax upon land ; and it was fpecially 
 enadted, that if it produced more than was necelTary for the purpofe, or 
 if the tumults were in the interim fettled without expence, that the 
 money was to be laid out in other purpofes ufeful to the public. 
 
 Hiftorians accufe this monarch of prying too narrowly into his 
 revenue, particularly in regard to wardfliips, which he retained in his 
 own hands, inftead of beftowing them upon the nearefl: relations of 
 the ward, or granting them to the well-deferving, according to the ufual 
 pradlice of his predeceflbrs : but this, it was faid, the king found ne- 
 ceflJary to do on account of the fcantinefs of his income "". 
 
 ' Maitland, vol. i. p. 606. 
 
 '' Buchan. lib. x. cap. 54. 
 
 ' Black ads, folio 72, 15th Oflober 1431. 
 
 ■" Buchan. lib. x. cap. 45. 48, 49. 
 
 S f 2 
 
 The
 
 3i6 HISTORY OF THE PUBLIC REVENUE 
 
 James II. The poverty of the crown in the reign of James II. was fo very 
 
 great, that it occafioned, in the words of an old afl:, " the povertie of 
 *' the realme in general, and manie uther inconvenients are there 
 " throw, the quhilkis were too lang to expreeme." To remedy fo great 
 an evil, it Vv'as enadled, that the whole of the cuftomsof Scotland fhould 
 be paid to the king alone ; and fuch as had penfions out of that branch 
 of the revenue were to be otherwife fatisfied. Lands of confiderable 
 extent alfo were unalienably annexed to the crown ; and it was declared 
 to be illegal to difpofe of them without the confent of the eftates \ 
 Such regulations have often been ordained ; and in every country re- 
 fumptlons have been pradliied. But public domains can hardly be re- 
 tained by any law, however ftri£t, from the felfilh intrigues of courtiers. 
 Even in republics, thofe who are in power are equally rapacious and 
 fuccefsful. 
 James III. There is a curious account extant, of the public revenue of Scotland, 
 
 in the reign of James III. as made up for the year 1474, by John 
 bifliop of Glafgow, then treafurer. The receipts for compofitions of 
 charters, wards, marriages, reliefs, efcheats, remiflions, Iffc. amounted 
 to 3,240/. 19J. gd. Scotch. In the difcharge, it is ftated, that the 
 expence for the king's perfon amounted to 118/. i8j. 6d. that of the 
 queen's to 113/. is. 6d. and that of the prince's to 41/. i j-. ^d. 
 making in all for the expence of the royal family 273/. 1 j-. ^d. Scotch. 
 The balance, being 2^()6jl. is. 8d. Scotch, it is probable was applied 
 to the maintenance of the houfehold and to national purpofes°. But the 
 real value of fuch an income ought not to be eftimated according to mo- 
 dern ideas. Its importance ought to be calculated, not from its nominal 
 amount, but from what it could then purchafe ; of which fome judgmerit 
 may be formed from the price of the following articles, not indeed during 
 
 " II Jac. TI. cap. 41, ■<7;;w 1455. 
 
 » See Maitland's Hiftory of Scotland, vol. i. p. 322, Ufc. The accounts ars too 
 long to be here published, though they contain fome curious articles : For inftjnce, 
 " Item, ten elne of canves to make Nikkyand Bell a bed to lye on, in the king's chalmer» 
 " price of the elne iGci. fum 131. 4^/." — " Item, given to Sandy Balfoure the fchevar 
 " 2/." — " Item, given to Robert Ran, 4th Novcmhrls, for certane gtuft's coft to the 
 *' king and queen, as a bill beris fubfcrivit with the king's hand, i /. los." There are 
 many other articles equally curious. 
 
 the
 
 OF THE BRITISH EMPIRE. 317 
 
 the reign of the monarch of whom we are now treating; but of his 
 grandfather, James I. The difference, however, between the two 
 periods could not be great. 
 
 The price of fundry articles, anno 1424. 
 
 Article. Price in old Scotch money. 
 
 A boll of wheat - - ^020 
 
 A boll of rye, barley, or peafe - 014 
 
 A boll of oats - - - - o o 6 
 
 An ox or cow - - - 068 
 
 A horfe - - - - o 13 4'' 
 
 The revenue of Scotland, therefore, though amounting only to 
 3,240/. igx. f^d. Scotch, was not fo inconfiderable, fince it would 
 li.ivc purchafed about 10,000 oxen, and other articles in proportion, 
 ludeed a great pecuniary income was not neceflary to a feudal monarch, 
 who received great part of his rents in kind, and was not liable to any 
 heavy charges for .the public defence. 
 
 In the year 1481, this rnonarch was not a little alarmed at the pre- 
 parations made by Kdward IV. of England, who threatened to invade 
 Scotland with a formidable army. He was therefore obliged to apply 
 to parliament for affiilance. it was enaded on that occafion, that 
 every individual^ in the kingdom fhould, upon eight days notice, be 
 ready to attend the king with arms and provifions for at lead twenty 
 days ; and 600 men were appointed to be raifed for the fervice of the 
 borders ; of whom 240 were to be maintained at the expence of the 
 church, as many by the barons, and 120 by the boroughs"; the pro- 
 portion which was ufual in all taxes levied about that time"'. 
 
 It appears that the revenues of Scotland were not materially increafed James IV. 
 during the reign of James IV. For, when that monarch was married 
 to the princefs Margaret of England (an event which laid the founda- 
 tion of the union, which afterwards happily took place between the 
 
 P Ruddim. Prre. Anderf. Diplom. Scot. p. 82. 
 
 ^ Black afts, umio 1481. cap. 100. 
 
 ' Ditto, anna 1483. cap. ic8, and ar.no 1488. cap. a. 
 
 two
 
 .18 HISTORY OF THE PUBLIC REVENUE 
 
 o 
 
 two crowns and kingdoms), he became bound to fecui'e to her the fame 
 jointure that was ufually enjoyed by the qtleen dowagers of Scotlartd ; 
 that is to fay, a third part of the lands and rents belonging to the orow^nl. 
 But as doubts were entertained, whether the third part of thofe lands 
 would yield 6,000/. Scotch money per anmim^ the king obliged him- 
 felf, in that cafe, to afTign over as many other lands as would make up 
 the deficiency '. * 
 
 It may be proper here To mention a fingular drtunlMn'iie" not un- 
 connected with the prefent fubjeft. In a conventional' ^'a/liament, 
 held anno 1488, a fubfidy T)f 5,000/. Scotch was voted to defray the 
 charges of an embafly, for negotiating a treaty of marriage, between 
 the king and a prineefs of France, of Spain, or of England. Many of 
 the nobles, and retainers of the court, had prevailed upon their young 
 and inexperienced fovereign to grant them a difcharge of their refpec- 
 tive proportions of the fubfidy ; but in the enfuing. parliament it was 
 declared, that the king himfelf could not difcharge any part of 
 that tax, fince it had been granted and appropriated for a public 
 purpofe ". 
 
 It appears from the records of parliament, that this monarch, at his 
 acceffion to the crown, was poffeffed of very extenfive domains in 
 almoft every county in the kingdom ''. But his expences exceeded 
 his income. Much money was wafled in building fhips of war larger 
 than was ufual, or indeed neceffary, at that time, and in conftruding 
 palaces magnificent beyond the refources of fo narrow a country. He was 
 thence led to exercife his feudal prerogatives with unufual rigour " ; and 
 it is probable that he would have imitated the fevere, though legal, fyftem 
 of exadlion pradifed by his contemporary monarch, and near relation, 
 Henry VII. of England, had not his death at the fatal battle of Flowden 
 intervened and prevented fuch au attempt. It is fingular, that he had 
 propofed undertaking a journey to Syria, not from religious motives, 
 but with views fimilar to thofe who now pafs from this country to the 
 continent ; namely, to diminifh their expences ; or, in the elegant words 
 
 • See the treaty between Edward IV, and James III. anno 1474. Abcrcrombie, vol, iv. 
 
 P- 332- 
 
 ' Maitland, vol. ii. p. 77.8. " 2 Jac. IV. cap. 9. anno 1489. 
 
 * Black adls, anno 1489 and 1490. '' See Maitland, vol. ii. p, 337. 
 
 of
 
 OF THE BRITISH EMPIRE. 
 
 3^9 
 
 of Buchanan, " ut immanem Ilium luxum, quem nee fuftinere fine 
 " pernicie nee omittere poffe falvo pudore videbatur, per abfentiam im- 
 *' minuere alFuefceret ^" 
 
 During the long minority of James V. (who fuceeeded to the crown James V. 
 when fcarcely two years of age) the royal property and income were fo 
 much wafted or embezzled by thofe who governed the kingdom, that 
 when he came of age he found himfelf immerfed in the greateft diffi- 
 culties. Even the royal palaces were ftript of their furniture, and 
 haftening to ruin. Nor was there any money remaining in the 
 Exchequer % It became neceflary therefore to fall upon fome expedient 
 for procuring wealth, and adding to the revenue. For that purpofe, 
 James had but one alternative, either to attack the clergy or the nobles, 
 (ince they engroffed between them the whole wealth of the country : 
 and as each party extolled the wealth and ability of the other, the king 
 liftened to each alternately, and probably intended to enrich himfelf by 
 pillaging both. The clergy, in order to avert the ftorm, and to prevent 
 an interview between James and his uncle Henry VIII. of England, 
 which they naturally apprehended would prove fatal to their interefts, 
 agreed to offer the king a confiderable prefent, befides an annual 
 donative of 50,000 crowns; and they alfo reprefented, that 100,000 
 crowns a year might be drawn into the Exchequer, by confifcating the 
 property and eftates of thofe who were attached to the principles of re- 
 formation **. The nobles, on the other hand, held forth the example of 
 Henry VIII. who had enriched himfelf by pillaging the clergy, as an 
 example worthy of imitation. The death of James, which happened 
 foon after, freed both parties from apprehenfions which were far from 
 being ill-founded. 
 
 Confiderable quantities of gold ore were found about this time, at 
 Crawford Moor in Clydefdale ; and miners from Germany were em- 
 ployed to dig for and colledt it. And when James, an?io 1537, was 
 married at Paris to the daughter of Francis I. mention is made of a 
 number of covered cups filled with pieces of gold duft, the native pro- 
 
 " Lib. xiii. cap. 23. 
 
 * Guthrie, vol. v. p. 186, 
 
 » Buchan. lib. x. cap. 62. 
 
 ducc
 
 320 HISTORY OF THE PUBLIC REVENUE 
 
 duce of Scotland, which that monarch diftributcd among the guefts 
 who were prefent at the nuptial ceremony ', 
 Mary. Among the various curious and importarat events which diftingulfli 
 
 the reign of Mary, a plan attempted to be enforced by the queen regent, 
 her mother, during her minority, of impoiing a permanent tax upon 
 land, and maintaining a ftanding army, is not the leall remarkable. 
 The greater nobles had fo far degenerated from the fpirit of their 
 anceftors, and dreaded fo much the refentment of the court, that in a 
 general allembly of biihops, earls, abbots, and lords, who called them- 
 felves lords of the fecret council, the plan was approved of ; but the lefler 
 barons were not fo timid. About 300 of them allembled in a body, 
 and reprefented to the regent, by deputies whom they had chofen for 
 that purpofe, the difgrace, the impolicy, and the injuflice of fuch an 
 idea. The celebrated Buchanan, in relating this tranfadlion, has put 
 every argument that has fmce been urged again ft ftanding armies and 
 mercenary forces in the mouths of the commiflioners ; and the regent, 
 perceiving how generally obnoxious it had proved, reludantly though 
 ■prudently abandoned it ''. 
 
 In no country in Europe had the Roman clergy accumulated a 
 greater proportion of the wealth of the nation than in Scotland. One 
 half of the landed property of the kingdom was in their pofleffion ; and 
 they bore two fifths of the public charges when any taxes were impofed '. 
 In the reign of Mary their exorbitant treafures were for the firft; time 
 jtmto 11^60. materially encroached upon. It was at a period when the crown was 
 reduced to the greateft difficulties to defray the public cxpenecs, and in 
 pa.rticular, to provide for the maintenance of the proteftant rainifters, 
 who enjoyed as yet no certain means of fubfiftencc. The whole 
 of the ecclefiaftical revenues ia Scotland at that time amounted to 
 217,473/. 13/. 107^. Scotch, of which the third, or 72,491/. 6^. yl-d. 
 was appropriated to thefe public purpofes '. Mary unwillingly con*" 
 fcnted to the propofal ; and her attachment to the religious and poli* 
 tical principles of the court of Rome being well known, notwithftaud- 
 
 " Maitland, vol. ii. p. 827. Guthrie, vpl. v. p. 165. 
 
 " Buchan. lib. xvi. cap. 8. Robertfon's Hift. of Scotlaodj vol. I. p. 130. 
 
 • Robertfon, vol. i. p. 121 and 124. , 
 
 ■* Jvlaixland, vol. i. p. 243. 
 
 ing
 
 OF THE ERITISH EMPIRE. 321 
 
 Ing her countenancing fo obnoxious a meafure, fhe received not long 
 after, a papal fubfidy of 8,000 crowns ^ ■ 
 
 During this reign, many odious modes of raifing money were 
 adopted. Some towns, fufpeded of difaffedlion to the queen, were fined, 
 and heavy taxes were levied on the boroughs in general. An attempt 
 was made to compel the citizens of Edinburgh to lend money to the 
 crown ; but they refifted fo unprecedented an exadtion, until fufficient 
 fecurity was given for the fum that was borrowed ''. 
 
 At the acceflion of James VI. the public treafury was fo much ex- James VI. 
 haufted, that it could not furnifh the money neceflary to equip fome 
 veflels for attacking the infamous earl of Bothwell, who had taken 
 fhelter in the Orkneys, where he fubfifted by piracy ; and he might 
 have remained in the undifturbed poffeflion of thofe iflands for fome 
 time, had not James Douglas, earl of Morton, defrayed the charges 
 required for fo neceflary an armament '. 
 
 The minority of this monarch, particularly whilft Morton a£ted as 
 regent, was attended, as has too commonly been the cafe, under fuch 
 adminiftrations, with much public oppreflion. Exorbitant fines were 
 exadled for very trivial offences. New and unheard of taxes were im- 
 pofed ; and every artifice of finance known at that time, in Scotland, 
 or pratjlifed in other countries, was adopted, that could fqueeze money 
 from the people. What rendered fuch a fyfl:em of extortion more 
 particularly unpopular was, that the fums thus accumulated, inftead 
 of being applied to the public fervice, were feized upon for the private 
 purpofes of the regent, and abforbed by thofe who were in power \ 
 
 James confequently found his affairs involved in confufion when he 
 took the reins of government into his own hands. He thankfully ac- 
 cepted, therefore, of an annual penfion of 5,000/. fterling per annum ^ 
 offered him by Elizabeth, which, it is faid, he had fome claim to, as an 
 equivalent for the Englifh eftate which had belonged to his grand- 
 mother, lady Lenox '. And though fond of the fplendour of the 
 hierarchy, yet he was prevailed upon to give his affent to an adl by 
 
 « Anno 1565. Buchan. lib. 17. p. 281. *" Robertfon, vol. i. p. 9.93. 
 
 ■ Buchanan, lib. xix. cap. 2. * Robertfon, vol. li. p. 44.. 
 
 ' Maitland, vol. ii. p. 185. 
 
 Part III. T t which
 
 324 HISTORY OF THE PUBLIC REVENUE 
 
 which the whole landed poflTenions of the church were annexed to the 
 crown ™. But this important refcurce was rendered of little avail from 
 the profufenefs of James to his favourites, and in confequence of all 
 former grants having at the fame time been confirmed. 
 
 The year 1597 was diftinguifhed by the greateft tax that had ever 
 been levied in Scotland ". The fum of 200,000 marks was raifed for 
 the purpofe of fending ambafladors to foreign courts, in order to obtain 
 the afhftance of the different powers on the continent, fhould it be ne- 
 ceffary, to infure James's fucceffion to the Engllfli crown : of which 
 100,000 marks were to be paid from the ancient property of the church ; 
 66,666 marks 8 fhillings 10 pennies by the barons and freeholders; 
 and ^2i333 marks 4 fhillings and 6 pennies by the boroughs. In the 
 ad it was fpecially provided, that the money fliould be received by cer- 
 tain parliamentary commiflioners, and " that this prefent taxation be no 
 " wayes employed, hot to the furnifhing of the faids embafl'adours °." 
 Another tax was afterwards granted, afuio 1621, to continue for the 
 fpace of four years, of thirty Ihillings yearly, on every pound land of 
 old extent, and of the twentieth penny of all interefl due on bonds, 
 bills, and other fecurities ^, Thefe were the only parliamentary taxes- 
 during this reign. : 
 
 Among the plans attempted by James with views of an economical 
 nature, and in hopes of making his income and expences tally with each 
 other, was the appointment of eight commiflioners, who, from their 
 number, were called O&avians, for the management of his finances^ 
 The abfolute difpofal of the public money was vefted in them. Nor 
 did the king referve to himfelf the power of making any grant, or 
 difpofing of any part of his income without their confent. By the 
 efforts of thefe commiffioners, good order and economy were eftabliftied 
 in the revenue department ; but their adminiftration was of ihort 
 duration. Finding themfelves unable to fupply the queen's expences, 
 they refigned their employments, after having had only time to prove 
 the fervices to the public which tliey might have performed had they 
 been continued". 
 
 ""II Jac. VI. cap. 59. " Maitland, p. 1290. 
 
 • Scotch ails 1597, N" 281. ' 2i Jac. VI. cap. 2 and 3. 
 
 ' Robertfon, vol. ii. p. 191 and 205. Guthrie, vol. viii. ?• 330 and 341. Mait- 
 land, vol. ii. p. 1263. 
 
 5 Amidft
 
 OF THE BRITISH EMPIRE. 323 
 
 Amldft the various objeds of James's government, he did not negled 
 the cultivation of the northern parts, or highlands of Scotland. By an 
 z€t pafled anno 1597, ^^hree royal boroughs were to be there ereded, one 
 in Kintore, another in Lochaber, and a third in the Lewes ; and power 
 was given to his Majefly to grant as much land of the annexed property 
 of the crown as might ferve to build the faid towns, and would yield a 
 revenue, or, as it is called in the a£t, a common good^ for fuftaining the 
 public charges '. It alfo appears, that James and his fon had jointly 
 given the fum of 50,000 marks, or 33,333/. 6s. 8d. Scotch, for the 
 purpofe of building a bridge over the river Tay, at Perth", an under- 
 taking accounted of the greateft importance to the northern part of the 
 iiland. 
 
 There is an account extant of the revenue of the crown of Scotland, Charlej iv 
 in the reign of Charles I \ But the real value of the income it is im- 
 poffible to afcertain, on account of the variety of articles of which it 
 confifts ; for it contains not only the money received, but alfo the wheat, 
 bear, malt, oats, oatmeal, mutton, capons, poultry, cunnings (rabbits), 
 doves, onions, geefe, falmon, herrings, butter, kids, martis, ftirks, &c. 
 paid to the crown. From the fame manufcript it appears, that anno 1634 
 the penfions and gifts on the Scotch eftablifhment amounted to the 
 following fum : 
 
 Penfions payable in money - ' £ 302,859 Scotch. 
 
 275 Chaldrons of vidlual converted into - 32,300 
 
 Total £ 335,^59 
 
 There were alfo other confiderable burdens ; and the whole was fo 
 heavy a load, that his Scottifh minifters recommended to Charles, either 
 to enforce the adt that had been made for the refumption of the crown 
 lands, or to pradife more economy. 
 
 ' IS Jac. VI. N" 267. 
 
 ' See a MS. in the advocates library, intitled, King and Church rents and tax 
 rolls. 
 
 ' See MS. above mentioned, containing an account of the kijig's rents and cafualties, 
 anno 1628 and 1629. 
 
 T t 3 The
 
 monweahh. 
 
 324 HISTORY OF THE PUBLIC REVENUE 
 
 The principal branch of the revenue of the crown at this time was 
 the cuftoms, which were let to farm, and produced, anno 1628, the 
 fum of 133,666/. I3X. Scotch money ; of which 74,666 /. 13/. Scotch 
 was paid upon the import of v/ines ; and 59,000/. on all other goods 
 brought into the kingdom. 
 
 There was but one parliamentary tax during this reign. It was 
 granted a7ino 1633 : by it thirty fhillings Scotch were impofed upon 
 every pound land of old extent ; and the fixteenth penny of all intereft 
 was given to the crown for the fpace of fix years "; but it is not known 
 what fum it produced. 
 The Com- The fubjugation of Scotland by the arms of Cromwell is an event 
 
 well known to every perfon in the leaft converfant with the hiftory of 
 that country ; and the nation- foon experienced the rigours and grievous 
 burdens of a military government. Before the ufurpation, it is probable 
 that the income of Scotland could not exceed 40,000/. ^^xXxn^per anmim : 
 whereas after that event took place, the following fums were annually 
 exaded r 
 
 INCOME of Scotland, as laid before Parliament 7th April 1659. 
 
 Sterling. 
 
 By afleflments of 6,000/. a month - £ 72,000 o o 
 
 By the income of the property of the crown, 
 and the rents annually paid into the Ex- 
 chequer - - - 5,324 18 54. 
 
 By cafualties and uncertain rents - - 576 3 5 
 
 By compofuion of fignatures - - 929 6 o 
 
 By cuftoms inward and outward, and excife of 
 
 goods imported - - - 12,500 o o 
 
 By the duty on fea coal - - - 2,216 5 4 
 
 By fait duties - - , - 1,674 9 5 
 
 Carried forward £ g^^22i 2 71. 
 
 • I Car. I. N" I and 2. 
 
 Exciie
 
 OFTHEBRITISHEMPIRE. 325 
 
 Sterling. 
 
 Brought forward £ g/\.,2 2i 2 yl. 
 Exclfe on beer, ale, and aqua-vitse - 47,444 13 4 
 Forfeiture cf fmuggled goods - - 595 10 114 
 Intereft of money appropriated for the aug- 
 mentation of the judges falaries - 391 5 o 
 
 Total - 143,652 II II 
 The expences of Scotland at that time were as follows-: 
 
 Sterling. 
 
 To the army - - . 
 
 Salaries of the council and other officers 
 Contingent charges of the council 
 Salaries to the court of Exchequer 
 Contingent charges of the Exchequer 
 Salaries to the courts of juftice 
 Contingent charges of the courts of juftice 
 To the commiffioners of excife and cuftoms 
 
 Their contingent expences 
 Salaries to the court of Admiralty 
 
 Its contingent expences 
 Charges of an hofpital -^ 
 
 Fire and candles to the army ~ 
 
 Penlions and other temporary contlngenciea 
 
 The revenues of Scotland CdiXnQ per annum to 
 The balance confequently was - — 
 
 Thus it appears that Scotland, under a military and defpotic go- 
 vernment, inftead of yielding a revenue adequate to its expences, wa& 
 every year confiderably deficient. 
 
 »• Commons Journals of England, vol. vii. p. 628, 
 
 Ac 
 
 £ 270,643 
 
 4 
 
 2 
 
 9,410 
 
 II 
 
 
 
 2>5^ 
 
 
 
 
 
 1.833 
 
 4 
 
 2 
 
 80 
 
 10 
 
 2i- 
 
 4,246 
 
 4 
 
 
 
 485 
 
 12 
 
 
 
 4.177 
 
 9 
 
 6 
 
 - 771 
 
 9 
 
 4 
 
 - 30+ 
 
 8 
 
 8 
 
 167 
 
 H 
 
 I 
 
 587 
 
 10 
 
 6 
 
 5.297 
 
 19 
 
 4 
 
 8,915 
 
 15 
 
 9 
 
 £ 307.271 
 
 12 
 
 ~ 
 
 143.652 
 
 II 
 
 II 
 
 ^163,619 
 
 
 
 9^"^
 
 Ji6 HISTORY OF THE PUBLIC REVENUE 
 
 Charles II, At the reftoration, the fame fpirit of loyalty which was carried to 
 fuch an extreme in England, extended its influence to the remoteft 
 corners of the two kingdoms ; and Scotland gave every evidence of- a 
 warm attachment to its new fovereign, that its impoveriflTcd circum- 
 ftances could admit. For in the firft parliament which Charles II. af- 
 fembled, adts were pafTed, by which, befides the ordinary crown revenues, 
 480,000/. Scotch, or 40,000/. fterling, were granted during the king's 
 life, partly to be levied by duties upon the importation of foreign com- 
 modities, and partly by monthly rates upon the different towns and 
 counties in the kingdom ^. In addition to this annuity, the ftates were 
 prevailed upon, by an a£l of convention pafled fl««o 1665, to impofe a 
 tax of forty fhillings yearly, for the fpace of five years, upon every pound 
 land of old extent belonging to the temporalty, and in the fame pro- 
 portion upon the lands belonging to the church, and the different boroughs 
 in the kingdom. This tax was granted in order to alTift the crown in 
 the profecution of the war againfl the Dutch ^. 
 
 The remaining fums levied in Scotland during the reign of this 
 monarch, in addition to the ordinary revenue of the crown, were as 
 follows : 
 
 ' Scotch money. 
 
 By aft 1667 ''-'•£ 864,000 
 
 D* 1670 - « - 360,000 
 
 D° 1672 » - - - 864,000 
 
 D" 1678 - - ; - 1,800,000 
 
 D* i68i - * - - 1,800,000 
 
 Total ;{• 5,688,000 
 
 Making in all 474,000 /. fterling. The laft grant was not to com- 
 mence until the nth November 1683 ; and it was to be paid by in- 
 
 f I Car, II. cap. 2. 13, 14; and 3 Car. II. cap. 25; alfo 15 December 1659. 
 " Scotch ads, vol. ii. p. 579, 
 
 ftalments,
 
 OF THE BRITISH EMPIRE. 327 
 
 ftalments, at the rate of 360,000/. Scotch /<?;- annum^ In the fpace of 
 five years ; but little of it could have been received before this monarch's 
 deceafe, which happened in the month of February 1684. 
 
 It may be proper here to give fome account of the regulations ena£ted in Tax on the 
 Scotland, for the purpofe of raifmg a revenue from the interefl: of money, money, 
 which is juftly confidered as one of the greateft defiderata in finance. 
 The firft inftance to be met with in our hiftory is in the reign of James VI. 
 By an adt already taken notice of, the twentieth penny of all intereft on 
 money due or payable to any perfon within the kingdom (the intereft 
 due by them to others being firft dedu£ted) was granted to the crown ; 
 and it was ordained, that every individual of that defcription fhould ap- 
 pear before the fheriffs and other officers in each different diftridl, and 
 ihould give in to the clerk of the court, an inventory of the fums of 
 money for which intereft was due to them, together with the names of 
 the debtors ; as alfo the names of their own creditors, and the annual 
 intereft which fuch creditors received ; which inventories it was de- 
 clared fhould be a ground for charging each perfon with his proportion 
 of the tax. Informers were to be rewarded with one half of the 
 amount of the frauds which they difcovered ; and fuch creditors as 
 attempted to get relief from their debtors, were made liable to the 
 penalties of ufury '. By another a£l paffed in the reign of Charles I. 
 a duty of the fixteenth penny of the intereft of money was granted 
 for fix years " : nor was this all ; for legal intereft then amounting to 
 \o per cent, it was thought fully able to bear a ftill heavier burden ; and 
 accordingly it was enadted, that for the fpace of three years (befides the 
 fixteenth penny) two out of the faid 10 per cent, payable by debtors, 
 fhould be paid to the crown ". By another ad paffed anno 1 690 ", the 
 fixth part of all free intereft due and payable in the kingdom was granted 
 for one year ; but it was found neceffary that very year to repeal the 
 ftatute, on the ground that fuch a tax would occafion great difficulty 
 both in the manner in which the fame ought to be colleded, and ia 
 the mode of afcertaining what free intereft was due ; and if perfifted in,, 
 
 % 23 Jac. VI. cap. J. * I Car. I. cap. r. 
 
 « 1 Car. I. cap, 21. ' Cap. 10. 
 
 would
 
 318 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 would not only be highly inconvenient to his Majefty's fubjedls, but 
 prove ineffectual for the purpofe for Vvhich it was intended, namely, 
 that of railing a revenue \ 
 
 Thus the attempt made in Scotland, to impofe a fliare of the public 
 burdens upon perfonal property, was abandoned. To compel every 
 one to give in a lift of his debtors and creditors, was unqueftionably too 
 rigorous a mode of proceeding, and not to be tolerated in a free, and 
 was dangerous in a commercial country. But it was imagined, that if cre- 
 ditors gave in only a general account of the balance of intereft they received, 
 the tax would riot be very productive. Means have of late been invented, 
 by impofing ftamp duties upon bonds, bills, and receipts for money, 
 to draw no inconfiderable income from perfonal property ; and that 
 ■fyftem can hardly be extended, unlefs by increafuig the duty upon re- 
 ceipts in proportion to the fum paid ; or by regiftering all mortgages, 
 giving them the preference in the order in which they are recorded, 
 and exacting one per cait^ from the creditor for the additional fe- 
 curity which, in confequence of fuch a regulation, he would obtain. 
 
 An attempt was alfo made to tax perfonal property in an indirect 
 manner. When a land tax of 864,000/. Scotch, was granted to the 
 crown, anno 1672, it was enacted, that every debtor in the kingdom 
 fhould retain, during the continuance of the tax, one fixth part of the 
 intereft he owed^ The obje£t was, to eafe the landed intereft, and 
 make money bear fome ftiare of the burdens of the public. It is fmgular 
 that fuch a regulation, couched in the very fame terms, fhould be con- 
 tinued in every land tax a<ft, to the prefent hour, in fo far at leaft as 
 relates to that part of Great Britain called Scotland, There cannot be a 
 ftronger proof of the inattention that is paid to the wording of our a(Sts 
 of parliament. If the relief of the landed intereft of Scotland is in- 
 tended, the debtor fhould be fuffered to retain not a fixth part of every 
 fix. per cent, per annum^ but a fifth part of five. This annual legifla- 
 tive miftake may be thus accounted for : fix per cent, was the legal 
 intereft of money at the union, and for fome time after. The words of 
 ihe annual land tax bill were therefore right, when fuch a bill was 
 
 * A£t ioth September 1690. ' 3 Car. II. cap, 4. 
 
 originally
 
 OF THE BRITISH EMPIRE. 329 
 
 originally palTed ; but it is not a little ridiculous, that they Ihould have 
 ever fince remained unaltered^. 
 
 During this reign, the infamous pradice of quartering foldiers in the Quartering 
 houfes of thofe who were deficient in the regular payment of their 
 taxes, was too frequently enforced. This military mode of levying 
 money firft took place anno 1649, during the grand rebellion. It was 
 re-enacfted anno 1661, after the reftoration'' : and in the annual land- 
 tax bill there is a claufe, by which all former adts of parliament of 
 Scotland, in relation to the bringing in of the fupply, and touching 
 quartering of foldiers, and riding money, are declared to remain in full 
 force, as if they had been fpecially exprefled. It is hoped that in fu- 
 ture fuch a claufe will not be fufFered to difgrace the ftatute-book. 
 Such a barbarous, tyrannical, and defpotic mode of levying money 
 ought no longer to be legalifed, or tolerated in a country that boafts of 
 its liberty, and difclaims the idea of a perpetual {landing army. Nor 
 fliould any difference in the mode of colleding the taxes in the two 
 counties, be admitted ; more efpecially as the other means of cora- 
 pulfion with which the officers of the revenue in Scotland are entrufled, 
 are fully adequate, with a very moderate fhare of perfeverance and at- 
 tention. 
 
 By an a£t pafTed anno 1685, eight months cefs, as it was called, James VII. 
 payable half yearly, amounting to 576,000/. Scotch, or 48,000/. 
 flerling, was granted by parliament during the king's life : the conti- 
 nuance of which, in the pompous words of the adl pafTed upon the oc- 
 cafion, " was the greatefl of their earthly wifhes, and the chief of their 
 temporal felicity and glory'." But adulation to the crown was the 
 common cant of the times : the Englifh parliament were not afhamed 
 of making their humble and thankful acknowledgments to his majefty 
 for his tender and favourable regard to his commons. Lulled alleep by 
 fuch infidious expreffions of loyalty, the only ones a tyrant can expeft, 
 
 s The idea however was not a bad one ; and it may fome time or other be worth con- 
 fidering, whether there might not be an additional land-tax of \s. in the pound, and the 
 intereft of money at the fame time reduced to 4 per cent, by way of compenfation to the 
 landed gentlemen. 
 
 ■> Cap. xiv. ' Scotch A£ls, vol. iii. p. g. 
 
 Part IIL U u this
 
 3JO HISTORY OF THE PUBLIC REVENUE 
 
 this unfortunate and bigoted prince was the lefs prepared to refift the 
 fuccefsful enterprife of his opponent and fucceflbr. 
 
 William III, No country whatever could exert itfelf with more fpirit and vigour 
 in defence of its liberties and legal rights, than Scotland did at the era 
 of the revolution. Whilft the English parliament were difputing in 
 what terms they fhould exprefs the vacancy of the crown ; and at laft 
 only declared, that James had abdicated the government, and confe- 
 quently that the throne was vacant, the reprefentatives of the Scottifh 
 nation nobly afferted,. that their late monarch having invaded the fun- 
 damental coriftitution of the kingdom ; having altered it from a legal 
 and limited monarchy, to an arbitrary and defpotic power ; having 
 fubverted the proteftant religion, and violated the laws and liberties of 
 the nation, had thereby overturned the foundations of government, and 
 forfeited all right to the crown. 
 
 Land^axes. Nor was it in words only that their attachment to the new govern- 
 ment appeared ; of which the following fums levied upon the land are 
 no contemptible evidence. 
 
 Land-tax by Ad 27th April 1689 
 
 Ditto 7th July 1690 
 
 Ditto loth September 1690 
 
 Ditto 4th May 1693 
 
 Ditto 2.0th June 1695 
 
 Ditto 16th July 1695 
 
 Ditto 25th September 1696 
 
 Ditto 30th July 1698 
 
 Ditto 3 ifl January 1701 
 
 jC7»239>733 6 8 
 
 In fterling money this amounted to 603,311/. is. i\d: 
 Pallt. Other fupplies alfo were granted for public purpofes. Three dif- 
 
 ferent ads were pafled, impofmg a poll duty in different proportions, 
 according to the rank or riches of each individual. Having already 
 given a view of the poll money levied in England, during the reign of 
 
 * The Adts were dated 29th May 1693 j 27th June 1695 ; and 30th June 1698. 
 
 12. William^ 
 
 ^ 288,000 
 
 
 
 
 
 2.019,733 
 
 6 
 
 8 
 
 216,000 
 
 
 
 
 
 756,000 
 
 
 
 
 
 432,000 
 
 
 
 
 
 216,000 
 
 
 
 
 
 1,296,000 
 
 
 
 
 
 1,152,000 
 
 
 
 
 
 864,000 
 
 
 

 
 OF THE BRITISH EMPIRE. 
 
 William, it may not be improper to give a ftatement of the rates Im- 
 pofed in Scotland, that the difference between the two countries, in 
 regard to taxation, whilft they had diftindt legiflatures, may be clearly 
 perceived. 
 
 331 
 
 VIEW of the RATES of POLL MONEY, in Ad 30th 
 
 Auguft 1698. 
 
 Scotch Money. In Sterling. 
 
 1. Merchants, tradefmen, ^c. worth 
 from 1 105,000 marks Scotch, or from 
 55/. lis. id, to 277/. ijj. ^%d. 
 
 fterling - - ;{'2loo 042 
 
 2. Ditto worth from 5 to 1 0,000 
 marks, or from 277/. i$s. ^\d. to 
 
 ^^^l. lOJ. lid. fterling - 400 068 
 
 3. Ditto above ic,ooo marks looo 016S 
 
 4. Ditto worth above 20,000 marks, 
 
 or 1,1 11/. I J. lod. fterling 15 o o 150 
 
 5. Ditto worth above 30,000 marks, 
 
 or 1,666/. I2J-. ^d. fterling 20 o o i 16 8 
 
 6. Ditto worth 40,000 marks, or 
 2,222/. 3/. %d. fterling - 24 o 
 
 7. Knights - - 24 o 
 
 8. Lords - - 40 o 
 g. Vifcounts - - 500 
 
 10. Earls - - 60 o 
 
 11. Marquifes - - 80 o 
 
 12. Dukes - - 100 o 
 
 o 
 O 
 o 
 o 
 o 
 o 
 o 
 
 2 
 2 
 
 3 
 
 4 
 5 
 
 o 
 o 
 6 
 
 3 
 o 
 
 6 13 
 8 6 
 
 o 
 o 
 8 
 
 4 
 o 
 
 4 
 8» 
 
 The rates impofed in England at the very fame time were very 
 different. The peers of the realm, fpiri'ual and temporal, being 
 charged by the Englifh aQs 40/. each ; and attornies, proflors, l^c. 
 0^1. per annum : whereas by the Scotch ads, no peer paid more than 
 8/. 6j. 8^. and attornies were only liable to 12/. Scotch, or il. fter- 
 
 ' Sec Aft 30 June 1698, which, being the laft, is probably the moft perfci^. 
 
 U u a Viviz :
 
 ^34 HISTORY OF THE PUBLIC REVENUE 
 
 ling: nay, writers not belonging to the fignet, were charged but 61. 
 Scotch, or IOJ-. fterling™. 
 
 Poll taxes fucceeded as ill in Scotland as they did in England ; and 
 there is a curious proclamation extant, which was afterwards ratified 
 by parliament, in which it is aflerted that the greater part of the 
 poll money granted by ad 1695, remained unpaid in Auguft 1696, 
 notwithftanding all the diligence that had hitherto been ufed to 
 collea it". 
 
 Hearth-mo- The only remaining circumftance connedled with the prefent fubje£l,. 
 
 "^^* at all neceflary to be taken notice of during this reign, was the enadt- 
 
 ment of the duty of hearth-money in Scotland, which the Englifli 
 parliament had a little before fo ftrongly reprobated. But it was ne- 
 ceflary to raife a fum in lieu of the tax on the interefl of money ; the 
 inconveniencies of which were confidered to be very great : and in 
 part of the fum thereby deficient, a tax of fourteen fhillings Scotch, 
 or IS. 2d. flerling, was impofed on every hearth within the kingdom 
 (the hearths of the hofpitals, and of the poor fupported by parochial 
 charity, always excepted), to be paid by the inhabitants of the houfes 
 where fuch hearths were j and where houfes were uninhabited, to be 
 paid by the proprietor °. 
 
 CiueenAnne. The reign of Queen Anne forms the mod important era in the 
 hiftory of Scotland. It was diftinguiflied by an event almoft un- 
 paralleled in the hiftory of mankind; namely, an incorporating union 
 of two Jealous and independent nations, who had long lived at va- 
 riance With each other, were attached to laws in many refpedls dif- 
 ferent, and to oppofite fyftcms of ecclefiaftical governmeiU ; not by 
 force of arms,, but by folemn compad. The- preceding- part of the 
 hiftory of Scotland contains little elfe but an account of the means 
 purfued by that country to defend itfelf againft the ambitious views of 
 its Englilh neighbours. It had often preferved itfelf with difficulty ; . 
 aad the.ftruggle between the two nations kept both in a ftate of per- 
 
 " By the a&, however, which impofes a tax upoa attornies (25 Gee III. cap. 80.) no 
 diftinftion in point of rate is made between thofe of London and Edinburgh ; nor between 
 thofe who refide in other parts of England and Scotland; a proof that Scotland was taxed 
 proportionably lefs, when it was a ieparate kingdom. 
 
 » Ait j6thOdober 1696. " Ad loth September i6go. 
 
 petuaL
 
 OF THE BRITISH EMPIRE. 333 
 
 petual turbulence and Inquietude ; checked their progrefs to pro- 
 iperity and wealth ; and, whilfl: it diminifhed their mutual importance 
 and felicity, proportionably contributed to add to the power and con- 
 fequence of other dates. The cruwns, it is true, had been united in 
 the perfon of James I. of England (known in Scotland under the 
 name of James VI.), and both nations continued to acknowledge the 
 fovereignty of the fame monarch, in the perfon of Queen Anne : but 
 it was doubtful whether the parliaments of the two countries would 
 agree in the nomination of the fame perfon for a fuccelTori and hence 
 all the miferable confequences of feparation and hoftility were again 
 apprehended. Fortunately, in addition to other confiderations, the 
 viiSlories of the renowned Marlborough gave fuch weight and luftre 
 to the government of England, and ftamped fuch a tlxorough convic- 
 tion of its power and wealth, as well as of the valour and abilities of 
 its people, on the minds of its neighbours, that an union, though 
 often on former occafions fruiilefsly attempted, being fometimes oh- 
 jedled to on the part of England, and at other times on that of Scot- 
 land,, was at lad happily brought to a conclufion. 
 
 The following fums were levied, by temporary taxes upon land, 
 before that event took place. 
 
 
 
 Scotch. 
 
 By Ad 19th June 1702 
 
 - 
 
 £ 756,000 
 
 5th Auguft 1704 
 
 - 
 
 432,000 
 
 nth September 1705 
 
 - 
 
 432,800 a 
 
 9th November 1706 
 
 - 
 
 577,066 13 4 
 
 ;^ 2,197,866 13 4 
 
 Which in fterling amounts to 183,155/. 11/. id. 
 
 The revenue of Scotland at the Union confided of the following Ppvenueat 
 branches, namely, the crown rents — the cafualties of the feudal te- ' ' "'""^ 
 nure — the cuftoms — and excife on ale and beer — the poft-oflice— 
 coinage impofitions — and occafionally a land-tax. 
 
 The crown rents produced, at an average, 5,500/ and the feudal 
 cafualties only 3,000./. more ; fo that the whole territorial and feudal 
 revenue of Scotland yielded but 8,500/. 
 
 Duties
 
 2j^ HISTORY OF THE PUBLIC REVENUE 
 
 Duties on goods exported or imported may be traced to the re- 
 moteft era of the hiftory of Scotland ; and, fubjedl to the limitations 
 of parliament as to the quantum to be exaded, were fuppofed to be a 
 right inherent in the crown. Their produce in the reign of Ghirles I. 
 amounted only to 11,138/. i6s. 8d. ftcrling: but at the Union, in 
 confequence of a more extenfive commerce, and of additional duties, 
 that branch of the revenue had confiderahly increafcd. Before the 
 war of 1702, it had been let in farm (for that was the mode of col- 
 leding the revenue which then exilled in Scotland) for 34,000/. fter- 
 ling. During the war it only yielded 28,500/. but it was fuppofed 
 worth at leaft 30,000/. a-year. 
 
 The excife on ale and beer was firft introduced into Scotland, as it 
 was in England, during the ufurpation. After the refloration, it was 
 granted for King Charles's life, and for five years longer : and as a 
 proof of the national aftedion to James VII. it was by an ad pafled 
 for that fpeclal purpofe, for ever annexed to the crown^ This tax 
 was alfo farmed at the Union, and yielded 33,500/. 
 
 The poft-office did not exift as a branch of the revenue, until the 
 reign of William HI. At the Union it was farmed for 1,194/. 
 per annum. The rates paid for the carriage of letters were as follows : 
 A fingle letter to any place within 50 miles of Edinburgh, paid id. 
 flerling; to any place within a hundred miles, "^d.^ and to all places 
 in Scotland above 100 miles, 4^''. The epiftolary correfpondence of 
 that country muft have been very fmall indeed, when even thefe rates, 
 which remained unaltered until the year 1784, proved fo very unpro- 
 dudive. 
 
 Certain impofitions to defray the expcnce of coining money, yielded 
 about 1,500/. per annum. 
 
 The only remaining branch of the revenue of Scotland, was the 
 land-tax. It was then ufually impofed at the rate of 36,000/. a-year: 
 but, in order that Scotland, in regard to its wealth and income, might 
 pay exadly in the fame proportion with England, it was agreed, that 
 48,000/. fhould be railed upon the land of Scotland, when four ftiil- 
 
 p Act 28th April 1685. ' Adlsth July 1695, No. 20. 
 
 lings
 
 OF THE BRITISH EMPIRE. 
 
 lings in the pound, or 1,997,763/. 8 s. j^\d. was laid upon that of 
 England. 
 
 The following was then the real ftate of the income of Scotland, at 
 the Union : 
 
 1. Crown rents ~ ' ~ £ S^S^^ 
 
 2. Feudal cafualties - - . 3,ooo 
 
 3. The cuftoms • _ _ 30,000 
 
 4. The Excife - - - . _ ZZ'iS^'^ 
 
 5. The poft-ofEce - - - i>'^94 
 
 6. Coinage impofitions - - . i)5oo 
 
 7. The land-tax _ - _ 36,000 
 
 Total £ 110,694 
 
 Such was the revenue of Scotland at that time. To put both na- 
 tions on an equal footing, 12,000/. of additional land-tax was to be 
 levied in Scotland ; and it was ftated by the Scotch commiffioners, that 
 when peace was concluded the cuftoms would probably yield 20,000/. 
 the excife, if properly colleded, 16,500/. and the poft-office 806/. 
 per annum^ in addition to their former produce, making in all 160,000/. ; 
 but the adual revenue at the Union, free of all charges, was only 
 110,694/. The debts of Scotland, however, were proportionably in- 
 confiderable, being only about 1 60,000 /^ 
 
 The principal difficulties which occurred in adjufting the treaty of 
 Union, were in regard to the fucceffion to the crown j to the number 
 
 ' By the treaty of Union, the current coin of the united kingdoms was to be according 
 to the Englifh ftandard. It became neceffary therefore to recoin the fpecie of Scotland, 
 which then confifted of the following particulars : 
 
 ACCOUNT of the SPECIE of Scotland at the UNION. 
 
 In foreign filver coin - " " jC IS^jCSo 17 
 
 In Scottifh milled motrey _ - _ 96,856 i j 9 
 
 In Scottifli hammered money - - 142,180 O O 
 
 In Englifli milled money .. - - 40,000 o O 
 
 zzi 
 
 Total ^ 411,11^ 10 9 
 
 See Maitland's Hiftory of Scotland, vol. J. p. 24X. 
 
 of
 
 336 HISTORY OF THE PUBLIC REVENUE 
 
 6f reprefentatives which Scotland was to haVe in the Britifti parlia- 
 ment ; to the proportion which each nation was to pay into the com- 
 mon exchequer ; and to the equivalent that Scotland was to receive for 
 fubjefling itfelf to the burdens and debts of England. The two firft, 
 however, were arranged without any material difpute : but when the 
 Englifli commiflioners demanded, that the fame cuftoms, excifes, and 
 allotted taxes fhould take place througTiout the united kingdom of Great 
 Britain, the Scotch commiflioners objected to the propofal ; and had not 
 the queen in perfon interfered upon the occafion, and exerted herfelf 
 with unufual earneftnefs to have the difficulty obviated, it is probable 
 that the treaty would have been Broken off*. But it was at laft 
 fettled, that all parts of the united kingdom fhould be liable to the 
 fame duties on exports and imports ; that the excife on liquors, and 
 the duty on fait, fhould be nearly the fame in both countries ; that 
 when four fhillings in the pound were impofed upon land in England, 
 48,000/. free of all charges, fhould be paid in Scotland ; and that 
 Scotland fhould be exempted from the payment of feveral duties upon 
 paper, vellum, parchment, coals, culm, and malt, to which the 
 Englifh were liable by feveral ads then nearly expiring; at the ex- 
 piration of which, however, the parliament of Great Britain was im- 
 powered to extend the faid burdens to North Britain, if it fhould be 
 neceflary for the prefervation and advantage of the two nations ; but 
 with a general pledge and declaration, that due regard ivotdd be paid to 
 the circiimjlanccs and abilities of every part of the united kingdom \ 
 
 By the 15th article of the treaty of Union, the equivalent that 
 Scotland was to receive for fuch branches of the cuftoms and excife 
 levied in tliat country, as were appropriated to pay off the debts of 
 England, contracted previoufly to the Union, was fixed at 398,085/. 
 10J-. od. It was fpecially provided, however, by the faid article, that 
 any addition to the cuftoms and excife, beyond the fum of 63,500/. 
 per-anmim^ fhould either be dedicated to public purpofes in Scotland, 
 or that an additional equivalent fhould be paid to that country, in pro- 
 portion to the increafe of thofe branches of the revenue ; at leaft in fo 
 far as they are applicable to the payment of the debts contracted by 
 
 = Guthrie's Hiftory of Scotland, vol, x. p. 339. ' Art. xiv. 
 
 England
 
 OF THE BRITISH EMPIRE. 
 
 337 
 
 England before the two nations were incorporated together ". It has 
 been alfo aflerted, that the cuftoms of England were over-rated in 
 order to render the equivalent as little as poffible ; and that large quan- 
 tities of goods were, before Midfummer 1706, brought to England, 
 and afterwards carried to Scotland, in order to get the drawback, and 
 were fraudulently re-imported into England after the Union, duty 
 free *. 
 
 The progrefs of the revenue of Scotland being included, fince the 
 Union, in that of England, does not require any particular illuftration. 
 But the reader may be defirous of knowing what income is now drawn 
 from North Britain ; and will not probably objedt to fome obfervations 
 tending to point out the advantages which have arifen from the unioa 
 that has fo happily taken place betwixt the two countries ; advantages 
 which were ridiculed or dilljelieved by many when the treaty was ori- 
 ginally concluded. Indeed the moft dreadful apprehenfions were en- 
 tertained by fome of the Scottifli patriots of the mifery and diftrefs, 
 which the heavy taxes England was then fubjecl to, would occafion ; 
 and it was aflerted, that Scotland was unable to bear more than it then 
 paid, and that any addition would prove ruinous to its agriculture, 
 manufactures, and commerce. The contrary, however, has proved to 
 be the faft. At, the fame time it can hardly be doubted, if no addi- 
 tional taxes had been impofed, that the circuraftances of that part of 
 the ifland would have been ftill more flourifhing. 
 
 The revenue of Scotland, as it is now paid, may be confidered under Prefent Jn- 
 two heads. Firft, The hereditary property of the crown. Secondly, g°'"j °^, 
 The public income of the country. 
 
 There are various branches of the public revenue of Scotland to ,. The prf. 
 which the crown lays claim as its hereditary and private property, more ^atepropeny 
 
 • J r J 1 > 1 • , ,. of the crown. 
 
 efpecially, — certam crown rents and leudal caluakies — the rents ot 
 
 " But by 5 Geo. I. cap. 20. all claims for farther equivalents are difcharged, in con- 
 fideration of ic,6oo/. per annum to the public creditors of ScoiIkikI, and 2,OOC7. for en- 
 couraging manufaiflures and improvements in that part of the united kingdom. 
 
 ' Hiftory of our National Debts, Part ii. p. y-. Alfo Chr.iidier's Comm. Delaic^, 
 vol. iv. p. 6g. A bill w;is brought in to prevcjit fuch goods from being re-impoited iixo. 
 England ; but it was dropt, it being apprehended that fuch a law would give oixence to 
 Scotland. — Diito. 
 
 Part III. X x certain
 
 rents. 
 
 ^38 HISTORY OF THE PUBLIC REVENUE 
 
 certain lands formerly poflelTed by the bifhops in Scotland — the new 
 fuhfidy of the cuftoms— a fhare of the feizures niade by cuftom-houfe 
 officers — a fhare of the lines and forfeitures in the excife — the here- 
 ditary and temporary excife — fome coinage duties — together with the 
 produce of certain royal prerogatives ^. 
 Crown rents The remains of the landed property and feudal rights of the crown 
 ^es. of Scotland produced in December 171 1 the fum of 7,055/. 2s. jef. 
 
 By the criminal negligence of the public officers intrufted with the care 
 of that branch of the revenue, joined to a variety of laviffi grants on 
 the part of the crown, it has fince that period fallen oft'fo much in pro- 
 duce, that at prefent it hardly yields the trifling refidue of 800/. per 
 animm '". 
 Bifliops Upon the abolition of epifcopacy in Scotland, the crown was de- 
 
 clared to be entitled to all the revenues poflTefTed by the dignified clergy 
 in that country '. Thefe revenues had been in former times very con- 
 fiderable, but a great proportion of them was embezzled at the re- 
 formation, and a part of them was afterwards granted by parliament 
 for pious ufes. There ftill remains about 4,200/. per amiiim^ of 
 which 300/. is directed to be paid to each of the three univerfities of 
 St. Andrew's, Aberdeen, and Edinburgh; 400/. is dedudled by the 
 
 '' In this inveftigation into the private property of the Crown, much afliftancc was re- 
 ceived from a manufcript, intitled " A Review of King George the Third's Revenue in 
 " Scotland," written about the year 1783J which accidentally fell into the author's 
 hands. 
 
 ^ This branch of the revenue in 171 1, condfted of the following particulars : 
 
 Feu and blench duties _ - - j^ S5505 16 5 
 
 Rents on the {hires, ftewarties and regalities - - ^^3 ^7 3 
 
 Cafual rents of ditto - - - - 91719 
 
 Borough mails - - - - 75 '5 9 
 
 Compofitions on fignatures and tacks of teinds - - 392 11 5 
 
 7,055 2 9 
 The deduflions at that time amounted to - - 'i->l^Z '4 ' 
 
 Clear balance jT 3>34i 8 6 
 But the free refidue at this time fcarcely amounts even to 800 /. 
 ' By ift William and Mary, cap. 29. dated 19th July 1690. 
 
 13 . colledlor.
 
 cers. 
 
 OFTHEBRITISHEMPIRE. 339 
 
 colledor, fo that the clear balance is very Inconfiderable, and even that 
 is in a great meafure abforbed by minifters ftipends, and various 
 other donations of an ecclefiaftical nature. 
 
 The new fubfidy of the cuftoms is a tonnage and poundage duty, Jj^^^f^he"''' 
 originally impofed in England alone, for the purpofes of increafuig cuiloms. 
 the civil lift revenues ", but extended to Scotland by the articles of the 
 Union, which declared that the cuftoms fhould be the fame in both 
 countries. It amounts, at an average, to about 7,000/. pei' a7inum of 
 net income, after deducting various fums for expences of colleftion, 
 bounties, and other charges to which it is made liable. 
 
 By various a£ls of parliament for impofing cuftom-houfe duties, Seizures by 
 and regulating trade, a certain proportion of the penalties and for- hoJfe Jffi. 
 feitures arifing from wrongs committed againft the revenue, was ap- 
 propriated both in Scotland and England to the fovereign and his 
 fucceilors. The impolicy of this meafure became at laft apparent. 
 During the reign of George II. it is well known, that fmuggling was 
 in a great meafure winked at, and even encouraged by government, 
 with a view of rendering this branch of the civil lift as productive as 
 poffible. At the acceflion of his prefent majefty the whole income of 
 the crown, and this branch in particular, was afligned to the public in 
 confideration of the fum of 800,000/. which was then fettled on his 
 prefent majefty during his life. It is pretended, however, that the adt 
 did not extend to Scotland, and confequently, that the produce of 
 cuftom-houfe feizures, in fo far as refpe«3:s North Britain, ftill re- 
 mains at the difpofal of the crown. The value of that refervation (if 
 it was refers'ed) will appear from the following ftatement : 
 
 GENERAL VIEW of SEIZURES made by CUSTOM-HOUSE 
 OFFICERS in North Britain for the Year 1788. 
 
 Grofs produce _ _ - ;^ 18,275 3 7 
 
 Net produce _ _ - - 16,503 18 6 
 
 King's fliare _ - - 9,294 8 i \ 
 
 Poundage and other expences - - 9,995 5 7x 
 
 " By 9 and 10 Will. III. c. 23. 
 
 X X 2 From
 
 34P 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 From the king's (hare it was ftated, that there was paid in confequence 
 of warrants for payment of penfions the fumof7,i7i/. os. 3^^/. and 
 that there remained undifpofed of on the 5th January 1789, a ba- 
 lance of 1,012/. 9J-. 67^. 
 FJnesandfor- It is difficult to afcertain the annual amount of the fines and for- 
 excTrr' '"'''* feitures in the excife ; becaufe it is not by the judgments obtained 
 that an account is rendered, but according as the fines are at diftant 
 periods recovered, or paid in by the coUedtors when their accounts are 
 adjufted. This article has been rapidly decreafing for feveral years. 
 At the acceffion of his prefent majefty it produced net, the fum of 
 9,500/. — It afterwards fell down to 7,000/. and notwithftanding the 
 great increafe of penal ftatutes it is ftill diminifhing. — The following 
 is the laft account of this branch that was laid before parliament : 
 
 An ACCOUNT of the GROSS and NET PRODUCE of FINES 
 and FORFEITURES in North Britain for the Year ending 
 5th July 1788. 
 
 Grofs produce - - ^'9,8 12 4 27 
 
 Charges attending the eftabllfliment of four yachts 
 
 for thefuppreffion of fmuggling, &c. - 4A4-S ^4: 7f 
 
 Net produce £5^3^^ 9 7 
 
 The above balance is applicable to the payment of penfions on his ma- 
 jefty's civil efl:ablifhment, by warrants from the barons of the exche- 
 quer in Scotland. 
 Hereditary gy ^^ ^Q- paflfed in the reign of Tames the feventh of Scotland, cer- 
 
 and tempo- ■' *^ ^ r • • • 
 
 rary excife. tain excifcs on inland and foreign commodities, of which temporary 
 grants had been formerly given during the reign of Charles II. were 
 finally united, annexed, and incorporated to the crown, " to re- 
 " main therewith in annexed property in all time coming, to James 
 " the feventh, and his heirs and fucceffors in the imperial crown of 
 •' Scotland "." — The produce of this branch of the revenue it is alfo 
 contended remains at the difpofal of the crown, and was not given up 
 
 ' I James VII. ch. 21. 28th April 1685. 
 
 to
 
 ties. 
 
 OF THE BRITISH EMPIRE. j^i 
 
 to the public at the acceffion of his prefent majefty. — The income 
 which it produces may amount to about 14,000/. per annum. 
 
 There were anciently taxes laid upon certain commodities for de- 9°'"'S* ^'^' 
 fraying the expence of a free coinage and other charges conneded 
 with the mint. By an a£t paffed anno 1686, thefe impofitions were 
 for ever annexed to the crown for thefe important purpofes" ; and 
 though every fpecies of the money of Great Britain is now coined in 
 England alone, yet by the articles of the Union, a mint, together with 
 the officers conneded with it, was exprefsly retained for Scotland, 
 and muft be continued in future, as arelidt of its ancient independence''. 
 
 There are certain prerogatives annexed to the crown of Scotland : ^°P' P""""" 
 
 P311VCS 
 
 as a right to the vacant ftipends of all livings in the royal gift or pa- 
 tronage ; the fines impofed in the courfe of judicial proceedings ; 
 the effeds of perfons who die without any legal heirs to inherit their 
 poflTeffions; and confifcations and forfeitures of every kind ; together 
 with a right to certain mines, royal firti, prize goods, and other fmall 
 cafualties, which his majefty claims as fuperior, or overlord, of the land 
 in Scotland, and of the feas and rivers thereunto belonging. In for- 
 mer times thefe rights were attended with lucrative advantages to the 
 fovereign. But as their produce at prefent is very inconfiderable, and 
 as in general it is difpofed of by the barons of the exchequer for cha- 
 ritable or public purpofes, without any application to the crown, it is 
 unneceflary to make any inquiry into their nature or their amount. 
 
 The various branches of the civil lift revenues in England having 
 been paid into the public exchequer fmce the acceffion of his prefent 
 majefty, the reader v/ill naturally inquire on Vv'hat principle it was, 
 that the fame rule was not extended to Scotland. But by the original 
 ad, which appropriated a certain fpecific fum for the expences of the 
 crown, it was fpecially provided, " That the feveral refpedive duties 
 " and revenues which were payable to his late majefty king George 
 •* the fecond in Scotland, fhall be continued, raifed, levied and paid 
 
 • 2 Jac. VII. c. 24. 
 
 * See alfo 7 Anne, cap. 24. 9 Geo. I. c. ig. 27 Geo. II. c, 11. By 9 Qeo, 
 III. c. 25. the coinige duties are made perpetual. 
 
 " from
 
 3^2 HISTORY OF THE PUBLIC REVENUE 
 
 " from the demife of his late majefty during the life of his prefent 
 *' majefty in the fame manner only, and fubjed to the fame or the 
 *' like charges thereon, as the fame vvefe liable or fubje«5t to during the 
 " life of his faid late majefty %" In coafequence of this claufe, the pri- 
 vate property of the ciown in Scotland was accoimted for in the ex- 
 chequer on the old footing, and was regulariy applied for the mainte- 
 nance of the civil eftablifliment of Scotland, and other purpofes in that 
 country. After the confolidation ad, however, had taken place ^ (by 
 which all the different branches of the excife and cuftoms were thrown 
 into our general fund), the new fubfidy of the cuftoms, and the here- 
 ditary and temporary excife of Scotland, could no longer be paid as 
 formerly. This minifterial blunder, however, was artfully redified in 
 a hodge-podge bill pafled nu/w 1788'"; and the produce of thefe branches 
 is again reftored at the difpofal of the crown, or rather of the mi- 
 nifter, by whom it is laviflily applied for his own political purpofes, in 
 corrupting the fpirit of the peers and commonei's of Scotland, and in 
 feeding the venality of its boroughs, or of thofe who reprefent them; 
 and too well accounts for that blind fervility, couched under the more 
 courtly terms of attachment to the crown and loyalty to the fovereign, 
 by which fo many individuals in that part of the kingdom are unfortu- 
 nately diftinguilhed. Whereas, were fo confiderable an income wifely 
 expended in extending the commerce, and promoting the improve- 
 ment of the country, the rapid progrefs which Scotland is now 
 making, might be confiderably accelerated. 
 
 2. Income of In regard to the revenue which the nation at large derives from 
 the public. North Britain, as the fame taxes, with hardly any exception, exift in 
 Scotland as in England, the income of this part of the ifland may be 
 confidered under the fame general heads; namely, cuftoms, excife, 
 ftamps and incidents, together with the annual taxes on land and 
 malt. 
 
 ^" I Geo. III. cap. i. ' 27 Geo. III. cap. 13. ^ 28 Geo. III. cap. 33. 
 
 The
 
 OF THE BRITISH EMPIRE. j4j 
 
 The produce of the Scotch cuftbms for the yeai' ending 5th January The cuftoms. 
 1789, was as follows: 
 
 Grofs receipt in money - - ;iC 250,839 ii 8 
 
 DEDUCTIONS. 
 
 1. Debentures - ;^ 60,591 13 2^ 
 
 2. Bounties - - 63,035 9 61 
 
 3. Salaries - 20,917 5 2 
 
 4. Incidents - - 27,093 5 i 
 
 ^7^^^2>7 13 oi 
 
 Net produce ^T 79,201 18 7I 
 
 There were alfo feveral bonds granted, to the amount of 630,708/. 
 19 J. 6\d. for duties on goods imported, of which only 31,415/. t^s. 
 remained uncancelled ; which fum would be placed to the account of 
 the following year, in fo far as it was liquidated. In regard to the 
 net produce, it is by law fubject to the expence of keeping up the 
 three courts, of feflion, jufticiary, and exchequer, together with certain 
 other charges of the civil eftablifhment of Scotland : the money remitted 
 to London from this branch of the revenue, for the year ending on the 
 5th January 17S9, amounted only to 40,000/. but is in general much 
 jnore confiderable, and on an average, for the eight preceding years, 
 came to no lefs a fum than 72,500/. ^(?r anmim^. 
 
 s From Michaelmas 1780, to Michaelmas 1788, the following fums were remitted 
 to London from the Scotch cuftoms. 
 
 At Michaelmas 1781 - - ^T 60,000 
 
 . 1782 _ _ - 80,000 
 
 ■ 1783 - - 60,000 
 
 — — 1784. - - - 60,000 
 
 . • 1785 - - 120,000 
 
 1786 _ - - 70,000 
 
 1787 - - 30,000 
 
 ■ 1788 . - _ 100,000 
 
 Total £ 580,000 
 
 Or at the rate of 72,500/. fer annum. But it may be expe£led, fince the late regulations 
 refpeding wine and tobacco, that the produce of the excife will increafe, and that of 
 the tuftoms will diminifh. 
 
 The
 
 344 HISTORY OF THE PUBLIC REVENUE 
 
 The fait duties, which are under the management of the fame com- 
 miffioners, yielded the following fums in the year ending the 5th 
 January i 789 : 
 
 Grofs produce - - ^18,043 o i^ 
 
 DEDUCTIONS. 
 
 Salaries - £ 3^^59 9 ^ 
 
 Incidents - - 1,588 o i 
 
 Bounties - 3,755 6 9 
 
 Drawbacks - - 246 13 y-L 
 
 8,749 9 II.!. 
 
 ^9,293 10 li. 
 
 The produce of the duties on fait and on coal in Scotland being 
 fo very inconfiderable, hardly yielding i8,oooL per annnm of net in- 
 come, many fchemes have been fuggefted for commuting taxes of fo 
 injurious a nature ; for it is hardly pofTible to levy that fum by any 
 means that could be attended with confequences equally pernicious. 
 Among other circumftances in favour of that idea, it may be urged, 
 that even under the government of Cromwell, when no partiality was 
 likely to be fliewn to Scotland, that allowance was made for the peculiar 
 fituation of that part of the ifland, in regard to fewel, infomuch that 
 though various duties were charged on Scotch as well as Englifh coal, 
 confuraed in England, yet Scotland was exempted''. And by an 
 a6l of the Scotch parliament in 1681, it is exprefsly declared, that coal 
 and fait foall not bear any part of the /apply'. Juftice, therefore, feems 
 to require, if we furnifh a compeirifation for thofe duties, adequate 
 to their average produce for fome years part, that we ihould be exempt- 
 ed from them in future ; fmce, without fuch an exemption, the progrefs 
 of improvement in that part of the country mufl be materially retarded. 
 
 * Scobell's a£h, 1651, cap. i. Comm. Journ. vol. vi. p. 210: and by another aiSl 
 during the ufurpation (on. 1656, cap. g.), the fmall coal of Scotland, on account of its 
 inferior quality, was only charged half the duty or cuftom of the great coal, when ex- 
 ported from that country. 
 
 ' This ad is not printed with the other Scotch (latutes, but may be feen in Wight on 
 Eleilions ; Appendix, p. 467. 
 
 The
 
 OF THE BRITISH EMPIRE. ^^^ 
 
 The duties of excife, including the annual malt, the hereditary and TheExcife. 
 temporary excife; and alfo the lines and ferfeitures in that depart- 
 ment, for the year ending 5th July 1788, produced the following 
 fums : 
 
 Grofs receipt of the excife duties - - ^C 363*869 3 6 
 
 of the confolidated malt - - 35,993 3 4^ 
 
 of the annual malt - - 22,156 4 o~ 
 
 ;iC 422,018 10 lOi 
 
 DEDUCTIONS. 
 
 Expences of management of the excife duties In 
 
 general - - ^70,681 4 ai. 
 
 of the confolidated malt 5,850 10 9^ 
 
 of the annual malt - 7,45 1 i o-i. 
 
 83,982 16 o 
 
 Net produce ^338,035 14 10,1 
 
 No branch of the revenue of Scotland has Increafed with more rapidity Stamps; 
 than the ftamp duties. In thecourfe of the year 1788, they produced 
 in all 73,877/. 13J. lod. and after deduding 8,032/. 6s. lod. for 
 charges of management and coUedion, yielded thenet fum of 65,845/. ys. : 
 an income for which Scotland has hardly any credit, fmce It Is con- 
 folidated with the produce of the Englifh ftamp duties, and in general 
 ilated in the lump. It Is to be hoped, however, that for the purpofe 
 of avoiding fuch confufion in future, of doing juftlce to the revenue 
 of North Britain, and of removing fome of the grievances under which 
 that part of the kingdom labours", that a ftamp. office will be ereded 
 in the capital of that country without delay. 
 
 In 
 
 ''= In a memorial drawn up upon this fubjetf^, the grievances of the people of Scotland, 
 arifing from the want of a Itamp office in that country, are thus fliortly dated : 
 
 " By the prefent mode of allowing paper to be (lamped only at London, the manufac- 
 turers in Scotland are deprived of a confiderable market for their paper, and have not the 
 fame advantages and encouragements with the people in England. 
 
 Part III. * Y y « Tht
 
 346 HISTORY OF THE PUBLIC REVENUE 
 
 In favour of fuch an eftablifhment it may be juftly contended, that 
 there are certaia rights which Scotland can never relinquifli, whilft it 
 retains the fmalleft veftige of its ancient independence '. The crowns 
 and the parhatnents of the two countries, it is true, are incorporated, 
 aiid confcqiiently in a political faife the Enghlh and Scots are one and 
 the fame people ; but in a religious, regal, or financial view, they arc 
 perfeAly diftind, and Scotland is as well entitled as England, to different 
 ccclefiafttc eftablifhments, independent courts of juftice, and feparate 
 boards of revenue. 
 
 Infmuations have been thrown out, as if the expence of the propofed 
 ofBce was an infurmountable objeiSlion. The abfurdity of fuch an idea 
 need not be dwelt upon. It has been already itated, that the charges 
 on this branch of the revenue, in fo far as regards Scotland alone, 
 amount to above 8000/. per amium^ which would be amply fufficient 
 to defray the whole burden of the eftablifhment. Separate boards were 
 thought neceffary at the union, for the excife and cuftoms, though the 
 one produced only at the rate of 30,000/. and the other of 33,500 /► 
 per annum ; whereas the (lamps yielding 65,000 /. of net income, are 
 more produclive than both thefe branches at that period^. Nor could 
 
 " The paper brought from London is confiderably dearer than what it could be got for 
 in Scotland, and is frequently fo bad as to be unfit either for writing or printing. 
 
 " The gentlemen of the law, and other confuniers of ftamps, are fubjefted to various 
 rnconveniencies by the prefent mode of not having paper ftamped in Scothind. 
 
 " The puhlifheis of Newfpapers in E.linburgh have not four per cent, difcount, whicli 
 is given in London, as a compenfation for a valuable privilege, that has been lately taken 
 away (the returning fpoiled and unfold Newfpapers for new flanips) ; and. although that 
 privilege extended equally to Scotland and Kngland, yet the compenfation, it feenis, ex- 
 tends only to the latter, and confequently the people of Scotland have not the fame a/- 
 hvjance as ftipulated by the treaty of union. 
 
 " Banks, Bunker?, fsfc. are obliged to fend their bills and bank-notes to London to be 
 flampedj to run the rifk of thr-ir being loft, beftdes the expence of carriage, and to pay 
 an agent at London to tranfacEi this bufmefs." 
 
 ' It is upon that idea that a mint is kept up in Scotland, though it is well known that 
 uo money is coined in that country. 
 
 "" The firfl: a£l which properly extended (lamps to Scotland (9 Ann. cap. 23.) was only 
 to continue for 32 years from ift Auguft 1711. It was made perpetual by 3 Geo. i. cap. 7,. 
 Had the {lamps been made perpetual from the beginning, a Scotch ilamp office would*, 
 probably have been erefled ; but a temporary duty producing little, was thought inade- 
 cj^iiatc to the expence. The caiir, however, is now greatly altered. 
 
 the
 
 OF THE BRITISH EMPIRE. ^47 
 
 the Engllfh jaftly complain of the expence of this new board, were the 
 produce of our {lamps even much lefs confiderable than at prefent, fince 
 they themfelves have a hackney coach office, to levy an income of about 
 26,000/. per anitumy and a board for licenfing ha^vkers and pedlers, 
 whofe whole revenue, for the year 1788, did not yield, net into the 
 exchequer, above 2,170/. whilft the very charges of colleclion amounted 
 to 3,291 /. 
 
 Perhaps it were better to have a general office for taxes eftabliflied 
 in Scotland, and every branch of the revenue, the cuftoms, excife, 
 and poft office excepted, placed under its control. The income of 
 Scotland would then be no longer a fubje£l of doubt, nor would abfurd 
 and erroneous ideas be circulated about it. But in the interim the 
 eftabliffiment of a ftamp office, feems to be abfolutely neceflary fo^ the 
 convenience of the northern part of the Ifland ; and cannot fail to be 
 fpeedily agreed to, if an application for that purpofe is urged with firm- 
 nefs and fpirit, and if the juftice of parliament is relied on, inftead of 
 humbly requefling it as a favour at the hands of a minifter, who is 
 feldom difpofed to yield to any requeft, unlefs it happens to fuit fome 
 political purpofes of his own. 
 
 It feems unnecefl'ary to enter into the particulars of the different Incidents, 
 branches known under the general head of Incidents ; as the produce 
 of each will be afterwards dated, and no particular obfervation occurs 
 refpedlng them. It is impoffible, however, not to remark, that the 
 poft office, which, at the union, only yielded 1,194/. P^^ anniim^ pro- 
 duces 55,000 /. grofs, and 33,000/. net Income j a ftriking proof of 
 an aftonifhing increafe in the commerce and opulence of the country. 
 
 The only taxes in which there is any material difference between the The annual 
 two kingdoms are, the annual or temporary impofitions laid upon land "nd mTu.*" 
 and malt. This is an advantage which fome individuals in South Bri- 
 tain confider to be unfair and partial. After endeavouring to diveft 
 myfelf, as much as poffible, of all partiality and prejudice in favour of 
 either of the two kingdoms, for both of which 1 have every reafon to 
 entertain the higheft prediledion, it is impoffible for me to agree to 
 the juftice of that obfervation. In regard to the land tax, it is afccr- 
 tained by the articles of the union ; nor can the proportion now be 
 changed, without Ihaking that folemn and important compad, which . 
 
 Y y 2 no
 
 .348 HISTORY OF THE PUBLIC REVENUE 
 
 no pecuniary intereft could juftlfy ". Befides, it is impoflible to expe£t 
 that remote diftridts can afford to pay at the lame rate with thofe which 
 are fituated in the neiglibourhood of the capital. In the one cafe money 
 is abundant, rents are punctually paid, and may be depended on with 
 certainty ; whereas in the diftant provinces, the tenants are poor ; the 
 farms iaconfiderable; the crops, from a wretched agriculture, in confe- 
 quence of the want both of fkill and of capital, too often defedive ; 
 the produce of the farms, from a deficiency of demand and markets^ 
 often unfold, or obliged to be difpofed of at an under value ; and when 
 any misfortune occurs, in confequcnce of an inclement and unfavour- 
 able feafon, the landlord, inftead of receiving a rent, is often under the 
 neceffity of putting himfelf to corifiderable expence in nurfing and fup- 
 porting his tenants. In fuch circumflances, a land tax of two fliillings 
 in the pound is more felt, than even four {hillings in a better fituation j. 
 and indeed in all countries the juflice of this principle is acknow- 
 ledged ; for the remote provinces of France, of Spain, of Denmark,, 
 of Sweden, Is'c. are taxed at a rate inferior to the centre of the king- 
 dom. In regard to the malt tax, there was no exprefs flipulation at 
 the union ; becaufe it was never fuppofed that it would be extended- 
 to Scotland. The diftindtion between the two countries is therefore 
 founded, not upon any compact between them, but upon the natural 
 juftice and equity of the cafe. In Scotland, the grain mufi: ever be 
 inferior to that of England. The climate of the former is not fo well 
 calculated as the latter, for producing corn of equal perfedion. There is 
 the difference of nearly a half in point of price and of real ftrength,, 
 between the bear or big of Scotland, and the barley of England ° j and 
 
 it 
 
 " The rental of England at the union, if the land tax then levied was equal 
 
 to a fifth part of the whole, was - - - ^^ 9,988,8 15, 
 
 The rental of Scotland, on the fame, data, was about - - 240,000 
 
 Total £ 10,228,815 
 It would be difficult to afcertain the real income of the two countries at prefent, 
 unlefs men of genuine public fpirit, and of folid abilities, were placed at the helm of our 
 affairs. 
 
 « When Englifh barley fetches in the port of Leith 25 x. the befl: Scotch barley 
 is worth about 22^.; or 3^. /)^r quarter lefs, and fo in proportion. But the greater 
 q^iiantity of. that fpecies of grain produced and confumed in Scotland is of an inferior 
 
 fort,.
 
 OF THE BRITISH EMPIRE. 'j4^ 
 
 It might as well be contended, if a tax were to be laid upon cattle, 
 that they ought to pay at the fame rate indifcrimlnately, notwithftand- 
 ing the palpable difference in point of fize between the cattle of the 
 two countries, or, that there would be no inequality in charging every 
 acre in the kingdom without diftindlion, with the fame land tax, 
 though every one knows the aftonifhlng difference that exifls between 
 their refpeftive value and produdtions. 
 
 A very intelligent author has obferved, that before the union all Scotch re. 
 foreign goods confumed in Scotland, necefiarily paid cuflom there; in England, 
 whereas fmce that event has taken place, all Eaft India goods, all goods 
 from the coafl of Africa, and many articles from Portugal, Spain, 
 Italy, the Levant, Is'c. together with the important articles of tea and 
 groceries, though confumed in Scotland, are firft landed in England, 
 pay the cuftoms there, and are afterwards tranfported to Scotland, duty 
 free. Such a circumftance, it is well remarked, mufl neceffarily aug- 
 ment the cuftoms of England, and prevent their increafe in Scotland ; 
 and indeed it not a little contributed to the great increafe in that branch 
 of the revenue in England after the year 1707". This, however, is^ 
 not the only circumftance, which, fince the union, diminiflies the 
 Scotch revenue : for the two nations being now confidered as one, 
 many articles of Englifh manufadure, fuch as porter, glafs, paper, £ffr. 
 are brought from England to Scotland, which would have received 
 either a bounty or a drawback in England, and would have been liable 
 to cuflom-houfe duties in Scotland, had the two kingdoms been dif- 
 united. Many Scotchmen alfo, who refide occafionally in London, 
 enter their carriages, horfes, and fervants in that part of the kingdom. 
 It is impofTible exadlly to ellimate the diminution vvhich this occafions 
 in the Scotch revenue; but it can hardly be ftated at lefs, deducling 
 what Scotland receives in the fame vvay, than 130,000/. per annum. 
 
 fort, called bear or big, which is only worth, at an aver.ige, about lo s. per ho\], or 
 13;. \d. per quarter, making a difference of about 11 ^. 8r/. per quarter. It would be the 
 height of injuftice to charge grain of fiich inferior value the fametaxwith the beft barley; 
 and if in any part of England big is cultivated, it (hould have the fame advantage, though 
 there are few diflriiSls in South Britain, where the foil and climate are not fufficiently favour- 
 able to the produdion of real barley. 
 
 P Hiftory oF our National Debts, part ii. p. 77^ 
 
 8 Some
 
 }S0 
 
 HISTORY OF THE PUIiLIC REVENUE 
 
 Some contend, that In the revenue of Scotland, there ought to be 
 included the taxes drawn from the confiimption of fuch Scotchmen as 
 refide in England, and fpend their income there, together with thofe 
 which the manufacturers and merchants of England arc enabled to pay, 
 in confequencc of the profitable commerce they carry on with that 
 country. But with regard to thefe two claims, it is to be confidcred». 
 that there is hardly a flate in Europe, and indeed hardly a country in 
 any part of the globe, that might not, upon the fame principles of com- 
 mercial connexion, affert its rights to the gratitude of England, for 
 adding to its income and revenue. At che fame time, if, in confe- - 
 quence of the union, more Scotchmen refide in England than other- 
 wife would have been the cafe, and more Englifh manufactures are im- 
 ported, than would have been confumed there, had it enjoyed a feparate 
 legiflature, with authority fuflicient to prohibit the manufactures of 
 other countries, and to encourage their own, Scotland, to fuch au 
 amount, if it can be eftimated, has juft pretenfions. 
 
 I fhall now proceed, under many difadvantages, arifing from the 
 jealoufy of thofe who are in power, and the apprehenfions of the various 
 officers who are intrufted with the adminiftration of the finances of 
 Scotland, to give the beft account of the Income and Expenditufe of 
 that part of the Ifland, that it is poffible for me to draw up, after many 
 fruitlefs endeavours on my part to procure the fulleft and moft accurate 
 information. 
 
 GENERAL VIEW of the REVENUE of Scotland for 
 
 the Year 1788. 
 
 I. Income of the Crown. 
 
 1 . Crown rents and cafualties 
 
 2. Bifhops rents _ _ _ 
 
 3. New fubfidy of the cuftoms 
 
 4. Seizures by cuftom-houfe officers 
 
 5. The hereditary and temporary excife 
 
 6. Fines and forfeitures in the excife 
 
 Carried over jC 60,342 10 6 
 
 2. Income 
 
 £ 7.055 
 
 /> 
 
 9 
 
 4,200 
 
 
 
 
 
 7,000 
 
 
 
 
 
 18,275 
 
 3 
 
 7 
 
 14,000 
 
 
 
 
 
 9,812 
 
 4 
 
 2
 
 OF THE BRITISH EMPIRE. 351 
 
 Brought over £ 60,342 lo 6 
 2. Income of the Public. 
 
 1. Cufloms, exclufive of bonds, 
 
 and dedudting the new fub- 
 
 fidy - - ;^ 243,849 II 8 
 
 2. The fait duties - - 18,043 o i- 
 
 3. The excife, exclufive of the 
 
 malt tax, of the hereditary 
 and temporary excife, and 
 of fines and forfeitures 340,056 19 jrC 
 
 4. Malt annual - - 22,126 4 07- 
 
 5. Malt confolidated - 33599° 3 ^^ 
 
 6. Stamps - - 73^^77 ^3 10 
 
 7. The poft office - - 5Si^3^ 13 ^ 
 
 8. Houfes, horfes, and other taxes 
 
 underthe management of the 
 
 commiffioners of taxes - 61,688 o o 
 
 9. The 6d. per pound deduc- 
 
 tion from all penfions, fala- 
 ries, perquifites, and other 
 allowances from the crown 2,079 '-' '^ 
 
 10. The I J'. dedu£lion from ditto 3,266 o o 
 
 11. The land tax, including the 
 
 expence of levying it - 52,000 o o 
 
 12. Excife and cuftom-houfe du- 
 
 ties paid in England, on 
 goods confumed in Scotland,, 
 including all bounties and 
 drawbacks retained - 130,000 o o 
 
 1,038,806 5 10 
 
 i 
 
 Total £ 1,099,148 16 4-^
 
 ^5.? 
 
 i,30o 
 
 HISTORY OF THE PUBLI C REVENUE 
 
 EXPENDITURE of Scotland, Anno 1788. 
 
 I. ExPENCES of the Crown. 
 
 1. Deductions from the crown rents and cafualties £ 3)7^3 ^4 
 
 2. Dedudlions frotn the bifhops rents to the col- 
 
 leftor and the three univerfities 
 
 3. For repairing churches, maintaining ecclgfiaftical 
 
 courts, minifters ftipends, ^c. 
 
 4. Officers of ftate in Scotland 
 
 5. Inferior pubUc officers _ _ « 
 
 6. Itinerant preachers in the Highlands 
 
 7. For carrying on criminal profecutions 
 
 8. For the expence of parliamentary proceedings 
 
 9. For repairing palaces and other public works 
 
 10. Contingent accounts of fherifFs . ' - 
 
 11. Expences of the Scotch mint 
 J 2. Expence attending cuftom-houfe felzures 
 
 1 3. Ditto of excife fines and forfeitures 
 
 14. Penfions, bounties, gratuities, or remittances to 
 
 England for the fervice of the crown 
 
 2. Expenditure of the Public. 
 Charges of colleding the Revenue. 
 
 I. Salaries in the cuftoms - ^^ 20,917 15 
 
 2,800 
 
 
 
 
 
 7,200 
 
 
 
 
 
 5,000 
 
 
 
 
 
 1,000 
 
 
 
 
 
 1,000 
 
 
 
 
 
 500 
 
 
 
 
 
 2,000 
 
 
 
 
 
 1,200 
 
 
 
 
 
 1,000 
 
 
 
 
 
 9»995 
 
 5 
 
 7v 
 
 4.445 
 
 H 
 
 74 
 
 19,187 
 
 16 
 
 2 
 
 £ 60,342 
 
 10 
 
 6 
 
 2. Incidents in ditto 
 
 3. Salaries in the fait office 
 
 4. Incidents in ditto 
 
 5. General expence of the excife, 
 
 exclufive of fines and for- 
 feitures 
 
 6. Expence of levying the malt 
 
 tax, annual and confolidated 
 
 27,093 
 
 3.159 
 1,588 
 
 66,235 
 
 5 
 
 9 
 o 
 
 9 
 
 4 
 
 2 
 I 
 6 
 I 
 
 6| 
 
 9i 
 
 Carried over ;{■ 134,295 4 2i. / 60,342 10 6
 
 OF THE BRITISH EMPIRE. 353 
 
 Brought over £ 134,295 4 24. 60,342 lo 6 
 
 7. Expences of the Scotch ftamps 8,032 6 10 
 
 8. Expence of the poft-ofEce in 
 
 Scotland - - 22,636 13 6 
 
 Expence of levying the taxes on 
 houfes and windows, horfes, 
 
 '^C, - - ^i'2S2 O O 
 
 10. Deduiflions allowed from the 
 
 houfe tax, S3°c. to the clergy 
 
 in Scotland - - 1,745 o o 
 
 11. Expenceof levying the land tax 4,000 o o 
 
 174,961 4 6t. 
 
 Bounties, Drawbacks, ^c. 
 
 1. Debentures and certificates in 
 
 the cuftoms - ;^ 60,591 13 2'^ 
 
 2. Bounties paid by the cuftoms ^2,0;^^ 9 61. 
 
 3. Bounties in the fait office - 3,755 6 9 
 ^. Drawbacks in ditto - 246 13 74 
 
 127,629 3 1-5 
 
 Money remitted to, or received by, the Ex- 
 chequer of England. 
 
 1. Remitted from the Scotch 
 
 excife - ■- £ 250,000 o o 
 
 2. — — from the cuftoms 40,000 o o 
 
 3. from the poft-office 33,200 o o 
 
 4. The Scotch ftamps - 65,845 o o 
 
 5. Taxes on houfes, horfes, Sfff. 55,691 o o 
 
 6. From the 6 d. per pound on 
 
 falaries, penfions, offices, Siff. 2,079 ° ° 
 
 7. From the i s. deduction from 
 
 ditto - - 3,266 o o 
 
 S. The Scotch land tax - 48,000 o o 
 
 9. Excife and cuftom-houfe du- 
 ties paid in England on goods 
 confumed in Scotland, at 
 kaft - - 130,000 o o 
 
 628,081 o o 
 
 Carried over 989,973 18 2i 
 Part III. Z z
 
 jj^ HISTORY OF THE PUBLIC REVENUE 
 
 Brought over ;C 9^9)973 i8 2^ 
 Public Expences either confirmed by the Articles 
 of the Union or by Act of Parliament. 
 
 1. The expences of the three 
 
 courts, of feffion, judiciary, 
 
 and exchequer - £ ^'^t'l^l ^5 ^^ 
 
 2. Additional falaries to the judges, 
 
 by 26 Geo. III. cap. 46 & 
 
 47. about - - 8,000 o o 
 
 3. To the commiflioner of the 
 
 general aflembly - iji^o o o 
 
 4. To the equivalent company, 
 
 for defraying the intereft of 
 the debts of Scotland, prior 
 to the Union - - 10,600 o o 
 
 5. Grant for encouraging im- 
 
 provements and manufac- 
 tures in Scotland - 2,000 o o 
 
 64,867 15 10 
 
 Balance of the general income of Sotland, re- 
 maining in the hands of various public of- 
 ficers for national purpofes - - 44,307 2 4 
 
 Total £ 1,099,148 16 4^ 
 
 This is no defpicable revenue ; being fully adequate to defray the 
 charges of an independent government, were it frugally adminiftered. 
 Indeed it is more than equal to the income of Sweden at this hour, 
 and greatly fuperior, in amount at leaft, to what England Itfelf pro- 
 duced, with all its boafted profperity and wealth, in the triumphant 
 reign of Queen Elizabeth " ; and though it is aflerted South of the 
 
 < The revenue of Sweden is generally calculated at 4,500,000 rix-dollars, which, at 
 4./. 6d. each, amounts to 1,012,500/. fterling. The income of Queen Elizabeth, at 
 the higheft calculation, could not exceed from 5 to 600,000/. per annum. See Part I. 
 chap. viii. p. 135. 
 
 I Tweed,
 
 OF THE BRITISH EMPIRE. 355 
 
 Tweed, that however fplendid the income of Scotland may appear upon 
 paper, yet that a confiderable portion of it is not of a tangible na- 
 ture, and never comes into the exchequer of England ; there are cir- 
 cumftances, at. the lame time, which, when taken into confideration, 
 would render it a matter of aftonilhment, how fo much, rather than 
 how fo little, is remitted from, and afforded by, that country. 
 
 An independent kingdom Uke Scotland, was entitled to retain, even 
 after the Union, thofe offices which had been inftituted to reward the 
 fervices, or to encourage the exertions, of fuch as had proved, or might 
 prove, ufeful to their country. — And ttie few officers of ftate and rem- 
 nants of a civil government and feparate eftabllfliment which ftill exift . 
 there, cannot well be obje£led to, whilft offices of a fimilar nature are 
 continued in England '. 
 
 As Scotland, though incorporated with England, was to be governed 
 by its own laws, it was neceflary to continue the ancient forms of 
 proceedings, and the courts of judicature, to which the people were ac- 
 cullomed. On other terms an Union would not have been pradlicable. 
 An alteration of ancient and eftablilhed laws is what hardly any na- 
 tion will fubmit to. The Norman conqueft itfelf did not materially 
 change thofe of England : fuch changes even the greateft tyrants and 
 <;onquerors have attempted in vain. 
 
 The colleding a revenue in a country fuch as Scotland, as yet not 
 diftinguifhed for its opulence', poffeQed at the fame time of an ex- 
 tended line of coafl: full of bays and harbours, and confequently favour- 
 able to the fmuggler, is, from the very nature of things, attended with 
 heavy charges; and in fo far as refpedls the cuftoms at leaft, muft 
 proportionally be lefs produdlive. 
 
 If Scotland alfo, under all the difadvantages of having become in a 
 manner an inferior and fubordinate kingdom, is able to preferve the 
 
 ' The civil eftablifhment of Scotland in the reign of Queen Anne, amounted t» 
 28,937/. '^^^ '"^ ^^^ reign of Geo. I. to 29,293/. See Comm. Journals, vol, 18. p. 
 105. 107. 
 
 • In the firft chapter of this Part it is remarked, that a great revenue can only be 
 drawn from fuperfiuous wealth, after maintaining the inhabitants of the country. As 
 yet little of that wealth exifts in Scotland, though it is increafing every day. 
 
 Z z 2 fame
 
 356 HISTORY OF THE PUBLIC REVENUE 
 
 fame proportion between the Income of the two countries which exifteJ 
 at the Union, there is no juft reafon for complaint. That cannot be 
 denied. Enghind and Scotland, at the memorable asra above alluded to, 
 were taxed to the amount of 5,851,803/. of which it was fujipofed that 
 Scotland would produce about 160,000/. per annum ^ or little more 
 than a thirty-fixth part of the whole; whereas at prefent the grofs pro- 
 duce of the income of the two kingdoms is about 17,500,000/. of 
 ^vhich at leaft a feventeenth part is furniflied by North Britain '. The 
 difference in the proportion between the two periods, does no fmall 
 degree of credit to the financial refources of Scotland. Befides, the in- 
 come of Scotland ought not to be compared with that of England in 
 general, including the metropolis : for London is the capital of Scot- 
 land as well as of England, and if the taxes which it yields were de- 
 duced, the difference in regard to taxation between Scotland and the 
 country in England, would not be very material. 
 
 It is only farther to be remarked, that Scotland never before yielded 
 fo great an income, even when it was a feparate and independent king- 
 dom; and that when Edward I. propofed an union, he offered terms in 
 regard to taxation infinitely more favourable than the prefent. For by 
 one claufe he became bound, that no duties, taxes, levies of men, &c. 
 fhould be exacted in Scotland, but *' fuch as^ being ufual in former 
 " times, (hall confifl with the common good and interefl of the nation"." 
 Thus all new taxes and additional impofitions and burdens of every 
 kind were guarded againft as in the higheft degree dangerous. 
 Advantages But it is not in regard to revenue alone that England is to eflimate 
 the advantages it reaps from its union with Scotland. 
 
 Ever fince the difTolution of the heptarchy, or at leafl fince the 
 Norman conquefl, it has been obliged to maintain the rank of a great 
 
 * It may be afTerted that the calculation ought to depend, not upon the grofs, but upon 
 the net income : but erroneoufly. The queftion is, what is furniflied by each of the 
 two kingdoms, for the general benefit of the whole empire ; and the charges of colleilion, 
 which are and muft be proportionably higher in Scotland than in England, are not only a 
 jieceflary part of the national expenditure, but unqueftionably the moft eflential. 
 
 » Guthrie's Hiftory of Scotland, vol. ii. p. 38. 
 
 and 
 
 of the Union.
 
 OF THE BRITISH EMPIRE. 357 
 
 and powerful kingdom In the. fcale of Europe. It was able to appear 
 -«vith fufficient dignity and luftre whilfl it held poffeffions on the Con- 
 tinent ; whilft France was confined within narrower bounds ; or whillt 
 that monarchy continued in a weak and enervated ftate, from the 
 prevalence of the feudal fyftem. But had France rifen to the power 
 which it now poiTefies, and had England and Scotland continued fepa- 
 rate and independent kingdoms; had the latter been the ally of France, 
 as was formerly the cafe; and joined to this, had England been at- 
 tacked, as it has recently experienced, by other enemies, how could it 
 pofTibly have refilled fo powerful a combination? Or, if it had, how 
 could its agriculture, manufadures, and commerce, have rifen, under 
 perpetual terror and apprehenfion, to their prefent flourifhing ftate? In- 
 deed an union between the two crowns, by the acceffion of James I. 
 was accounted fo fatal a circumftance to the French monarchy, that 
 Henry IV. made every poflible exertion in order to prevent it". 
 
 On the fuppofition, therefore, that England muft have been occa- 
 fionally engaged in wars with its neighbours, what an advantage is it 
 to have Scotland, not an enemy, but a brother in the caufe? It was 
 fuppofed, that in the war concluded atnio 1762, Scotland furnifhed 
 about 70,000 able and gallant men to fupply the fleets and armies of 
 the empire. Perhaps even a greater number was fent during the lail 
 war; and if it were granted, that England could have paid for the 
 forces in the manner which it has done", yet ftill how could it have 
 fpared fuch a body of men from the labours of the field, or from 
 other ufeful employments '' ? 
 
 Indeed 
 
 » This hGt is fully proved by Cardinal d'Oflat's letters. 
 
 * This may be queftioned. The cuftoms and excife could never have been fo pro- 
 dudive, had Scotland remained independent, and given the leafl encouragement to 
 fmuggling into England. 
 
 '' I have heard Englifhmen remark that this was an ideal advantage : that as England 
 paid for the whole, it could always have purchafed the men from Scotland, as it does the 
 troops of German Princes. But it fs much to be queftioned, whether England could 
 have acquired the wealth neceflary for that purpofe, had it not been for the internal peace 
 and fecurity which the Union produced. Befides, to the enemies of England the friend- 
 
 fhip
 
 3^S HISTORY OF THE PUBLIC REVENUE 
 
 Indeed England has reafon to rejoice, that it was able to procure an 
 union with an independent kingdom, on fuch favourable terms. It 
 refembled a great proprietor, in the very bofom of whofe territory a 
 fmall pofleffion exifted, to the acquifition of which, except by the vo- 
 luntary furrender of the owner, infurmountable obftacles were placed. 
 Such an acquifition in private life is confidered as of the laft: importance, 
 nor is any price accounted too great. The ancient barons of Scotland 
 had unanimoufly declared, that " whilfl a hundred Scotchmen remain- 
 " ed alive, they would never be fubjeded in any manner of way to the 
 " domhnon of England^ .^'' The fame fpirit exifted in Scotland anno 
 1706, though fortunately it was much lefs vehement and lefs extended. 
 And how much foever the prefent Union may be accounted equal, on 
 account of the inequality of the two nations in regard to territory and 
 population, yet in former times an unequal number of reprefenta- 
 tives would have been accounted, as in fame manner of iray coming 
 under the dominion of England, and confequently would have been 
 rejected. 
 
 But the Union at the fame time is an event, the exiftence of which 
 Scotland has no reafon to regret. Thofe who will take the trouble of 
 comparing the fituation of that country, whilft it was fubjed to inde- 
 pendent monarchs, or even fmce the two crowns were united (the 
 reign of William III. itfelf not excepted), with its prefent ftate, muft foon 
 be convinced of the happy confequences which have refulted from it*. 
 
 We 
 
 fhip of Scotland would have been of fuch value, that the Englifh could not have ob- 
 tained it without making very important facrifices. Nor would the Scotch, at prefent fo 
 renowned for their fidelity and attachment to the caufe in which they have been engaged, 
 have adhered fo clofely to their colours as they have done, had it not been for the idea, 
 that they were fighting, not only for pay, but for their country. And if ever an union 
 with Ireland takes place, it will probably be feen, that the fatal propenfity to defertion, 
 with which the common foldiers of that country are at prefent fojuftjy reproached, will 
 become much lefs prevalent. 
 
 » See the famous letter from the Scotch nobility to the Pope, 6th April 1320, 
 Guthrie's Hiftory of Scotland, vol. ii. p. 264. 
 
 » There is one advantage, which, though not abfolutely promifed, was yet held forth to 
 Scotland as an inducement to accede to the Union, but which has hitherto been unfortu- 
 nately
 
 OF THE BRITISH EMPIRE. 
 
 "We cannot indeed attribute every improvement which has recently- 
 taken place, to the Union. For without it, there mull have been fome, 
 and perhaps confiderable advancement. It is impoffible, however, to 
 deny, that the progrefs of Scotland by that event has been not a little 
 accelerated. 
 
 The Scots have alfo to confider, that by the Union they have con- 
 nected themfelves with a nation who will make as diftinguifhed a figure 
 in the page of hiftory, as any people that ever exifted : a nation that can 
 boaft not only of warriors and of ftatefmen, of poets, of philofophers, 
 and of artifts, equal, and in many inftances fuperior, to thofe of other 
 countries ; but who have alfo brought the various arts connedled with the 
 cultivation of the foil ; the improvements necelTary in carrying on every 
 fpecies of manufaduring induftry ; the theory and the pradice of commerce, 
 that wonderful affemblage that conftitutes naval ftrength ; and above all, 
 the principles of good government and the forms of a free conftitution, 
 to a height of perfeftion which the world never before witnefled ''. 
 
 May both nations, or, to fpeak more properly, the natives of South 
 and North Britain, fenfible of the mutual advantages which they now 
 enjoy, forget every remnant of ancient jealoufy and rancour: and thofe 
 whom the hand of Providence hath joined, may no man impioufly 
 put afunder ! 
 
 nately neglefled ; namely, the eftablifhment of public granaries, to prevent that fcarcity of 
 grain, which the nature of its climate fo frequently occafions in that country, particularly 
 in the northern parts of it. See Inquiry into the Union, by the Wednefday's Club, 
 p. 124. written, it is faid, under the patronage of government, and printed annt 
 
 1717- 
 
 *> The Englifli chara6ler is thus beautifully and juftly defcribed by Goldfmith in his 
 Traveller : 
 
 *' I fee the lords of human kind pafs by, 
 
 *' Pride in their port, defiance in their eye, 
 
 •' Intent on high defigns, a thoughtful band 
 
 *' By forms unfalhion'd, frefh from Nature's hand; 
 
 *' Fierce in a native hardinefs of foul, 
 
 " True to imagin'd right, above control j 
 
 *' While even the peafant boafts thefe rights to fcan, 
 
 •' And learns to venerate himfelf as man." 
 
 359
 
 t 361 ] 
 
 COME additional obfervatlons have occurred, fince the preceding 
 Chapter was written, with regard to the eredion of a feparate 
 
 flamp-office in Scotland. 
 
 In Defoe's Hiftory of the Union (Appendix, Part I.), there is an 
 account of the tranfadions in both parts of the united kingdoms fub- 
 fequent to the Union, in which various reafons are given for the efta- 
 blilliment of feparate boards of excife and cuftoms in Scotland, in 
 itfelf (as he juftly contends) a proper meafure, " but which, in confe- 
 " quence of the i8th and 19th articles of the Union, became abfohitely 
 " 7ieceJJ'aryr For by thefe articles the laws of Scotland were to re- 
 main in the fame force as before, and all the pleas of the crown were 
 to be cognizable only in Scotland. The courts of feflion and jufticiary 
 were therefore continued. And by 6th Anne, cap. 26. a court of 
 exchequer was ere<3:ed for Scotland, and it was declared, " That the 
 *' cuftoms and excife, and all other revenues appertaining to the queen 
 *' within Scotland, cither as queen of Great Britain^ or as prince or 
 " fteward of Scotland, &c. and all the remedies for recovering the 
 ** fame, and all accounts relative thereto, and all penalties by force of 
 *' any ftatute relating to the cuftoms and excife, or by force of any 
 " other ftatutes ; and all Jines^ ijfues^ forfeitures .^ and penalties^ of what 
 " nature foever^ ariftng ivithin Scotland^ &c. fhall be within the jurif- 
 " didtion of the faid court." 
 
 It is evident, therefore, from the articles of the Union, and from 
 the a6l above recited, that the eftablifhment of a feparate ftamp-office, 
 is a matter of right, and indeed of neceflity, which cannot be denied to 
 Scotland. It is impoffible, by the Union, to give the courts in Weft- 
 minfter a jurifdidlion in North Britain, in regard to ftamp duties ; and 
 equally impoiTible to put it in the power of the courts of juftice in 
 Part III. 3 A Scotland
 
 36a 
 
 HISTORY OF THE PUBLIC REVENUE 
 
 Scotland either to enforce the penalties, or to punifh the forgeries, con- 
 ne£ted with that branch of the revenue, imlefs a ftamp-office is ereded, 
 the officers of which are amenable to their jurlfdiflion. In fad:, the 
 whole revenue of ftamps in Scotland, is at this moment either illegally 
 exacted, or at leaft depends upon the voluntary difpofition of thofe 
 who are liable, there being no iegal mode of enforcing the payment of 
 the tax. 
 
 A curious circumftance occurs in the courfe of examining the ftatutes 
 with regard to ftamp.s. By 6 Ann. cap. 5. fee. 4. certain ftamp duties, 
 originally impofed by another a<3:, but continued by this ftatute, toge- 
 ther with the tax on hawkers and pedlars, are to take place over the 
 whole kingdom of Great Britain, and confequently in Scotland, at the 
 end of ninety- fix years after their commencement in 1710. This is 
 the firft ftamp adt which included in it tiae whole ifland, and fliews 
 how cautious government was in regard to the introdudion of ftamps 
 into Scotland, when it was thought neceflary to give the Scots a pre- 
 vious warning of fo remote and diftant a nature as ninety-fix years ; 
 and even then the tax was only to continue for one year. 
 
 Of late, however, lefs ceremony has been ufed with Scotland : of 
 which a ftronger proof cannot be given, than an adl pafled anno 1789 
 (29 Geo. 3. cap. 50. itz. 12.), by which the fole jurifdidlion of a 
 variety of additional ftamp duties on newfpapers, advertifements, &c. 
 extending throughout the whole kingdom of Great Britain, is given 
 to the court of exchequer at Weftminfter alone : A palpable, 
 but probably an unintentional infringement of the articles of the 
 Union. 
 
 It is too often faid that the Scotch are apt to claim the benefit of 
 the Union, when it is in their favour, and to rejecil it when it is 
 otherwife. But it is certain that where two parties are united together, 
 the one fuperior in power and wealth to the other, that in all unfore- 
 feen or doubtful cafes, the balance muft be given to the weaker. 
 That principle is exprefsly recognized, in the 14th article, under the 
 general words, " That the parliament of Great Britain will never lay 
 " any fort of burden upon the united kingdom, but what they fhall 
 *' find of neceffity at that time for the prefcrvation and good of the 
 
 " whole,
 
 OF THE BRITISH EMPIRE. ^^i 
 
 " whole, ancl with due regard to the circumjiances and abilities of every 
 " part of the united kitigdom.^' Without fuch a preliminary, the 
 Union between England and Scotland could never have been com- 
 pleted ; far lefs can it be expedted, unlefs that principle is publicly 
 acknowledged in this country, and uniformly adled upon, that an 
 union equally defirable, can ever take place between Great Britain 
 and Ireland.
 
 t.
 
 2^5 ] 
 
 FOREIGN PROPERTY 
 
 IN THE 
 
 ENGLISH FUNDS. 
 
 AMONG the other important fubjedls which the author had in- 
 tended to difcufs, in the chapter on the political circumftances or 
 the nation, there was none which he believes the reader would have 
 been more anxious to examine than a calculation of the amount of 
 foreign property in the funds of this country, being a point of very 
 great confequence, and refpe£ting which the public has never received 
 any authentic information. He has been the better enabled to gratify 
 a very natural curiofity on this head, by his accidentally meeting with a 
 complete account (in manufcript) of the names of our foreign creditors, 
 and the amount of their refpe£live debts (in fo far as they were transfer- 
 able at the Bank of England), as they flood in the year 1762. On that 
 foundation, he has drawn up fome calculations, which he flatters 
 himfelf will throw light upon the fubjedl, and will fatisfy the public 
 that the myflerious fecrecy obferved in regard to this matter, is 
 perfectly unnecefTary, and- that any apprehenfions entertained re- 
 fpeding the dangerous magnitude of foreign property in our funds, 
 are fortunately ill founded. 
 
 An
 
 266 
 
 HISTORY OF THE PUBLIC REVENUE 
 
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 » 3
 
 OF THE BRITISH EMPIRE. 367 
 
 No notice is taken in this account of the foreign property in 
 the funds of the South Sea, or of the Eaft India company. But it is 
 rather improbable that in either of them it could be very confiderable. 
 In regard to India flock, the Dutch, who are our principal foreign 
 creditors, would not be much dlfpofed to take a concern in that fund, 
 to fupport the credit of a rival company, by which their own trade 
 might be materially injured. On the fuppofition, however, that they 
 poflefTed a million in each of the funds transferable at the South Sea 
 and at the India Houfe, their whole capital might then amount to 
 feventeen millions, and the intereft to about feven hundred and feventy 
 thoufand pounds. 
 
 With the foundation of the preceding account, it may be poflible to 
 form feme idea of the intereft which foreigners poffefs in our funds. 
 We fhall fuppofe that in the different perpetual and temporary an- 
 nuities, their property is doubled fmce the year 1762 (in the Bank 
 ftock alone excepted, of which we have information to be depended 
 on) ; confequently they would have in the 3 and 4 per cents, about 
 20,627,075/. jj-. 8^/. bearing an intereft of 661,890/. 12^. id. 
 
 In the long annuities, according to the fame proportion, their annual 
 intereft would amount to 28,550/. 8j. ^d, per annum. 
 
 Their intereft in the Bank ftock has decreafed much. Anno 1762, 
 it amounted to 4,627,858/. ^s. zd. Anno 1778, to 3,156,688/. 17/. 4^. 
 And anno 1782, to 2,833,276/. ioj. bd. If it ftill continues fo con- 
 fiderable (the intereft paid on Bank ftock being at the rate of 7 per 
 cent.) foreigners would receive the fum of 198,329/. 8j-. per annum for 
 their property in that fund. 
 
 Anno 1783, they poflefTed 757,128/. 13^. 3^/. of India ftock, bearing 
 an intereft of 8 per cent, and 159,447/. iix. \od. of Eaft India 3 per 
 cent, annuities. 
 
 As thefe calculations are rather large than otherwife, it feems to be 
 unneceffary to make any addition on account of their intereft in the 
 5 per cent, ftocks, the unfunded debt of the nation, the Million Bank, 
 or the other funds in which they may have fome concern. 
 
 The
 
 368 HISTORY OF THE PUBLIC REVENUE, &c. 
 
 The following will then be an Abftraft of the Amount of Foreign 
 Property in the Englifh Funds : 
 
 1. In the 2)P^^ cents, and the Capital, 
 other perpetual annuities 
 due to individuals - jC^°>657>°75 5 ^ 
 
 2. In the temporary an- 
 nuities - - - 28,550 8 8 
 
 3. Bank ftock - - 2,833,276 10 6 
 
 4. India ftock - - 757,128 13 3 
 
 5. India annuities - - 159,447 il 10 
 
 ^24,435,478 9 II 
 
 Intereft. 
 
 
 
 ;C66i,89o 
 
 12 
 
 2 
 
 28,550 
 
 8 
 
 8 
 
 198,329 
 
 8 
 
 
 
 60,570 
 
 4 
 
 
 
 4,783 
 
 4 
 
 
 
 954,123 
 
 16 
 
 10 
 
 I fhould imagine indeed that even this is an exaggerated calculation. 
 It is fome fatisfadion however to find, that confidering the immenfity 
 of our debts, there is fo much reafon to believe that we do not pay 
 . a ninth part of the intereft to foreign creditors ; and that twenty-five 
 millions is the utmoft at which the capital of their property in our 
 funds can be eftimated. 
 
 The aftoniftiing decreafe alfo in the intereft they poflefs In the 
 Bank ftock, is well entitled to attention. In the fpace of about twenty 
 years, from 1762 to 1782, the difference is no lefs a fum than 
 1,794,581/. I4J-. 8^. But fuch were the groundlefs apprehenfions en- 
 tertained, refpeding the public credit of the country, towards the 
 clofe of the American war, that it is not to be wondered at that our 
 foreign creditors ftiould be defirous of diminifhing their property in 
 our funds, when they had a favourable opportunity, in confequence of 
 the rife of Bank ftock, to fell out to advantage. 
 
 APPEN-
 
 APPENDIX. 
 
 N° I. 
 
 SINCE the Ad 22 Geo. III. cap. 82. the mode of payments out of the 
 civil Hft revenues has undergone very material alterations ; and regular 
 clafies have been eftablifhed, which are direfted to be paid in a particular 
 order, leaving the lords commiffioners of the treafury laft, that they may have 
 every poffible inducement to praftife economy in the expenditure of that de- 
 partment. The firfl: plan that was drawn up of the eftablifhment in confor- 
 mity to the aft, may be feen in Commons Journals, vol. xl. p. 328 : and the 
 accounts for the year 1784 and 1785, in vol. xli. p. 639. But as many may 
 be defirous of information upon this important fubjedV, to whom the Journals 
 may not be acceffible, who may have an opportunity at the fame time of per- 
 ufing this work, it is therefore fuppofed, that, to fome of our readers, the fol- 
 lowing account will not be unacceptable. 
 
 An ACCOUNT of the DISBURSEMENTS of the CIVIL LIST for tie 
 
 Year ending ift of January 1786. 
 
 FIRST CLASS. 
 
 The Pensions and ALtowANCES to the Royal Family. 
 
 His majefty's privy purfe - ~ - jT 6o,000 
 
 Her majefty the queen _ ■ _ 50,000 
 
 His royal highnefs the prince of Wales - - 50,000 
 
 The princes Frederick, William, Edward, Erneft, Augufius, and 
 
 Adolphus - _ . . 11,000 
 
 His royal highnefs the duke of Cumberland - - 9,000 
 
 Her royal highnefs the princefs Amelia - - 12,000 
 
 £ 192,000 
 Part III. [A]
 
 APPENDIX. 
 
 SECOND CLASS. 
 
 Payment of the Salaries of the Lord High Chancellor of Great Britain, Lord Keeper 
 or Lords Commiflioners of the Great Seal, the Speaker of the Houfe of Commons, 
 the Judges of the Courts of King's Bench and Common Pleas, and Barons of the 
 Exchequer, the Chief Juftices of Chefter, and Juftices of the Courts of Great Seflion 
 in the Principality of Wales. 
 
 The lord chancellor or lords commiiGoners of the great feal - £ 5,000 
 
 The fpeaker of the houfe of commons 5/. a day - - 15825 
 
 Lord chief juftice of the court of king's bench - - 4,000 
 
 One of the juftices of ditto - - - 1,500 
 
 Another - • . - 15500 
 
 Another - - - - - i>50O 
 
 Lord chief juftice of the court of common pleas - - 2,000 
 
 Ditto additional falary _ - « » 1,000 
 
 One of the juftices of faid court - - . i»S00 
 
 Another ..... 1j500 
 
 Another - - . • 1,500 
 
 Chief baron of the court of exchequer ■ « 2,000 
 
 One of the barons of the faid court ... 1,500 
 
 Another _ - - . « 1,500 
 
 Another _ - - . Ij500 
 
 Chief juftice of Chefter - - . . ^^o 
 
 Second juftice of ditto - - - . ^qq 
 
 Chief juftice of Glamorgan, Brecon, and Radnor • . 400 
 
 Second juftice of ditto _ - - _ ^qq 
 
 Chief juftice of Caermarthen, Pembroke, and Cardigan . 400 
 
 Second juftice of ditto ■ - - • ^qq 
 
 Chief juftice of Caernarvon, Merioneth, and Anglefea . 400 
 
 Second juftice of ditto - - • • 400 
 
 £ 32.955 
 
 THIRDCLASS. 
 
 The Salaries of the Minifters to Foreign Courts, being refident at the faid Courts. 
 
 FRANCE. 
 
 Ambaflador extraordinary and plenipotentiary 100/, /^ week ;^5>'ii4 5 8 
 
 To ditto for extraordinaries - - 1,600 o o 
 
 Secretary to the embafly 40J. a day - - 730 o 
 
 To ditto for extraordinaries - _ . 400 O o 
 To ditto as plenipotentiary, on 3/. a day, 167 days from the 
 
 lOth July 1785 to the 23d December following - 501 O o 
 Commiffary to treat with thofe appointed by the moft chriftian 
 king, relative to matters of commerce, 3/, a day, from the 
 
 27th May 1784, 223 days - - »>095 o o 
 
 Secretary to the faid commiffary, ditto - - 730 o o 
 
 Carried forward £ 10,270 5 8
 
 APPENDIX. 
 
 lU. 
 
 Brought forward 
 To David Hartley, Efq. minifter plenipotentiary * 
 To ditto for extraordinaries 
 Secretary to faid plenipotentiary 
 Envoy extraordinary and plenipotentiary, on lo/. a day from 
 
 the gth December 1785, 28 days - • - 
 
 To ditto for ^xtraordinaries, ditto 
 
 SPAIN. 
 
 Ambaflador extraordinary and plenipotentiary 100/. a week 
 
 To ditto for e;<traordinaries - - - 
 
 Secretary to embafly 40 i. a day 
 
 To ditto for extraordinaries » - « 
 
 One other fecretary - - _ 
 
 To ditto as minifter plenipotentiary, on 3/. a day 
 
 Commiflary to his faid majefty, on 5/. a day 
 
 Secretary to ditto - - - - 
 
 PORTUGAL. 
 
 Minifter extraordinary and plenipotentiary 8/. a day 
 
 To ditto for extraordinaries . - - - 
 
 TURIN. 
 
 I 10,270 s 8 
 
 280 o 
 128 14 8 
 
 1,600 
 
 730 
 
 400 
 
 1,130 
 
 1,095 
 
 i»79S 
 
 359 
 
 8 
 o 
 o 
 o 
 o 
 o 
 o 
 
 
 
 Envoy extraordinary 5/. a day 
 To ditto for extraordinaries 
 
 2,920 o o 
 300 o 
 
 1,825 o 
 400 O 
 
 Vice conful 
 
 NICE. 
 
 NAPLES. 
 
 Envoy extraordinary and plenipotentiary 8/. a day 
 To ditto for extraordinaries 
 
 FLORENCE. 
 
 Envoy extraordinary and plenipotentiary 8/. a day 
 To ditto for extraordinaries 
 
 340 
 
 a,920 o o 
 400 o o 
 
 2,920 o o 
 400 o 
 
 VENICE. 
 
 Refident 3/. a day 
 
 To ditto for extraordinaries 
 
 1,095 o 
 400 o o 
 
 Carried over £ 365922 6 o 
 
 • The blanks in this page were filled op in the preceding year (1784) \ *" '' ^ ^ 
 as follows : — — — — C7?°° 
 
 but m the year taken (vix, 1785) they are left blank. — See Commoi\,s Journals, vol. xli. p. 691, 
 
 [A] 2
 
 IV 
 
 Charge des affaires 
 
 APPENDIX. 
 
 Brought over ^ 36,922 6 O 
 
 SWISS CANTONS. 
 
 250 
 
 CONSTANTINOPLE. 
 
 Ambaflador 3/. a day ' 
 
 1,095 
 
 HOLLAND. 
 
 Ambaflador extraordinary and plenipotentiary 10/. a day from 
 
 the 29th June 1784. _ _ _ 3)650 O 
 
 To ditto for extraordinaries _ . - 1,600 O 
 
 Deputy confervator at Campvere - - 120 o 
 
 VIENNA. 
 
 Envoy extraordinary and plenipotentiary 8/. a day 
 To ditto for extraordinaries 
 
 2,920 o o 
 600 o o 
 
 BRUSSELS. 
 
 Minifter plenipotentiary 5/. a day 
 To ditto for extraordinaries 
 
 1,825 O 
 400 o o 
 
 RUSSIA. 
 
 Envoy extraordinary and plenipotentiary 8/. a day 
 To ditto for extraordinaries 
 
 2,920 o o 
 600 o o 
 
 BERLIN. 
 
 Envoy extraordinary 5/. a day to 14th July 1785 - 950 O 
 
 To ditto for extraordinaries _ _ _ jog 18 O 
 
 Envoy extraordinary and plenipotentiary, on 8/. a day, from 
 
 3d Auguft 1785 > _ - 1,2^8 o 
 
 To ditto for extraordinaries - - - 169 4 o 
 
 SWEDEN. 
 
 Envoy extraordinary at Stockholm 5/. a day 
 To ditto for extraordinaries 
 
 1,825 
 400 o o 
 
 Carried forward jC57>704 ^ o
 
 APPENDIX. 
 
 Brought forward £ S7>704 8 o 
 
 DENMARK. 
 
 Envoy extraordinary at Copenhagen 5/. a day - I>390 o o 
 Envoy extraordinary atid plenipotentiary on 8/. a day, from lOth 
 
 October 1785 - > - 696 O 
 
 To ditto for extraordinaries - ■ • 400 o o 
 
 POLAND. 
 
 Minifter at Warfaw 3/. a day ... ijOQS o o 
 
 To ditto for extraordinaries - - . 4.00 o 
 
 DRESDEN. 
 
 Envoy extraordinary 5/. a day _ _ _ 1,825 o 
 
 To ditto for extraordinaries - _ - 400 o 
 
 HANS TOWNS. 
 
 Minifter 3/. a day •-. _ . Ij095 O o 
 
 To ditto for extraordinaries - _ - ^oo o o 
 
 ELECTOR PALATINE. 
 
 Minifter at Ratifton 3/. a day - _ _ I3O95 O 
 
 To ditto for extraordinaries - « _ 300 o 
 
 ELECTOR of COLOGNE, &c. 
 
 Minifter 3/. a day - _ _ 
 
 To ditto for extraordinaries - _ _ 
 
 Minifter to the Landgrave of Hefle, from 5th February 1784 
 Conful at Madrid > _ - 
 
 Conful at Cadiz - - - - 
 
 Conful at Carthagena ... 
 
 Conful at Corunna Galicia - _ - 
 
 Conful at Naples - - ■ - 
 
 Conful at Genoa - _ _ _ 
 
 Conful general at Morocco - » - 
 
 Conful at Tunis ■ ■ _ 
 
 Conful at Tripoly - - _ - 
 
 To ditto for extraordinaries _ - , 
 
 Conful at Algiers _ _ » 
 
 To ditto for extraordinaries - - _ 
 
 Conful at Oftend, Newport, and Bruges 
 Conful at Triefte - _ . 
 
 Conful at Majorca, Minorca, and Ivica 
 Conful general to America _ _ _ 
 
 Conful general to Grand Cairo, from lath September 1785 
 
 ;C 75.543 H 7j 
 
 1.09.S 
 
 
 
 
 
 300 
 
 
 
 
 
 400 
 
 
 
 
 
 1,000 
 
 
 
 
 
 200 
 
 
 
 
 
 300 
 
 
 
 
 
 250 
 
 
 
 
 
 400 
 
 
 
 c 
 
 250 
 
 
 
 
 
 800 
 
 
 
 
 
 500 
 
 
 
 
 
 380 
 
 
 
 
 
 250 
 
 
 
 
 
 6co 
 
 
 
 
 
 485 
 
 II 
 
 6 
 
 200 
 
 
 
 
 
 120 
 
 
 
 
 
 200 
 
 
 
 
 
 IjOCO 
 
 
 
 
 
 112 
 
 IS 
 
 li
 
 VI 
 
 APPENDIX. 
 
 FOURTH CLASS. 
 
 The approved Bills of all Tradefmen, Artificers, and Labourers, for any Articles 
 fupplicd, or work done, for his Majefty's Service. 
 
 Bills within the lord chamberlain's department 
 
 Ditto within the department of the lord fteward 
 
 Ditto within the department of the mafter of the horfe - 22,162 8 '^ 
 
 Ditto within the department ct the niafter of the robes 
 
 The uflier of the court of exchequer 
 
 The uflier of the receipt of exchequer 
 
 Printers' bills _ . _ . 
 
 Bills of prince Frederick, and the other princes 
 
 FIFTH CLASS. 
 
 The menial Servants of his Majefty's Houfehold. 
 
 The lord chamberlain at the exchequer 
 
 Salaries in his office - - • 
 
 The lord fteward at the exchequer 
 
 Salaries in his office - . - 
 
 Salaries in the office of mafter of the horfe » 
 
 Salaries in the office of mafter of the robes 
 
 Vice chamberlain at the exchequer - - » 
 
 Groom of the ftole at ditto - . • 
 
 The lords of the bedchamber ditto 
 
 The grooms of ditto, ditto _ - . 
 
 Apothecary to his majefty, ditto - • 
 
 Apothecary to the houfehold, ditto • 
 
 £ 38,778 
 
 17 
 
 
 
 49'523 
 
 18 
 
 8 
 
 22,162 
 
 
 
 8 
 
 2,206 
 
 I 
 
 6 
 
 1,482 
 
 »7 
 
 9 
 
 6,900 
 
 
 
 
 
 11,469 
 
 18 
 
 
 
 6,118 
 
 2 
 
 8 
 
 £ 138M1 
 
 16 
 
 3 
 
 3,000 
 
 
 
 d 
 
 24,069 
 
 »9 
 
 
 
 1,540 
 
 
 
 
 
 26,093 
 
 
 
 2i 
 
 12,747 
 
 14 
 
 4 
 
 1,080 
 
 
 
 
 
 600 
 
 
 
 
 
 2,000 
 
 
 
 
 
 12,000 
 
 
 
 
 
 6,500 
 
 
 
 
 
 »iS 
 
 
 
 
 
 53 
 
 6 
 
 8 
 
 £ 89,799 o H 
 
 SIXTH CLASS. 
 
 The penfion lifts - - - 107,404 13 4 
 
 Compenfation to fundry perfons whofe offices have been fup- 
 
 preffed - - - ~ 18,353 3 11 
 
 £ t^SyJSJ 17 3 
 
 SEVENTH CLASS. 
 
 Salaries of all other Perfons payable out of the Civil Lift Revenues. 
 
 Sir John Hynde Cotton • «• » 568 
 
 Vicar of the Tower .r .= - - 6134 
 
 Canied forward £12 00
 
 APPENDIX. vii 
 
 Brought forward ;C ^^i o o 
 
 Poor of St. Botolph, Aldgate - - - 700 
 
 Ditto of St. John the Baptift . . - 7134. 
 
 Schoolmafter of Southwell . _ • lo O O 
 
 Univerfity of Oxford for a prea^cher - . - 1000 
 
 Univerfity of Cambridge .- • _ 10 O O 
 
 Ditto for a preacher . j. _ 10 O O 
 
 Dean and chapter of Litchfield - - - 10 o o 
 
 Poor of St. Michael, Cornhill - • - 12 4 O 
 
 Profeflbr of divinity at Oxford - - 13 6 8 
 
 Ditto at Cambridge - - - 1368 
 
 Vicar of Litchfield - - - - 15 O O 
 
 Emanuel college, Cambridge - - - 16 13 4. 
 
 Poor of St. Magnus - • - 21 4. 8 
 
 Mafter of the Temple - - . 37 6 8 
 
 Profeflbr of law at Cambridge - - - 40 O 
 
 Ditto of phyfic at ditto - - - 40 O O 
 
 Ditto of law at Oxford -. - - 40 O o 
 
 Ditto of phyfic at ditto . . _ 40 O 
 
 Corporation of Dartmouth « - - 40 6 O 
 
 Preacher at Hampton court - - . 40 o O 
 
 Fellows of Eton college - . - 42 o o 
 
 Mayor of Macclesfield for a preacher - - 50 o o 
 
 Minifters of the Savoy - - - 60 O O 
 
 Minifters of the IHe of Man - . . lOO O O 
 
 Profeflbr of botany at Cambridge - - 100 O O 
 
 Corporation of Lyme Regis - - - joo o o 
 
 Heirs of colonel Fairfax - - - 100 O O 
 
 Ditto of Nicholas Yates - . _ lOo o o 
 
 Corporation of Berwick - . - ico O O 
 
 Bifnop of Chefl:er for four preachers - - 200 O O 
 
 Profeflbr of afVronomy _ - - 320 o o 
 
 Treafurer of Chrifl:'s hofpital - _ _ ^70 10 o 
 
 Profeflbr of hiftory at Oxford ■ - - ^oo O 
 
 Ditto at Cambridge - - » 400 o o 
 
 Chancellor of the Garter - _ _ ^^o 5 o 
 
 One of his majefty's fecretaries of ftate - - 5,680 o o 
 
 Another - - - - 5>68o o o 
 
 Prefident of the council _ « _ 4,000 o o 
 
 Keeper of. the privy feal 5/. a day, and 1,175/. per annum 3,000 o o 
 
 Governor of Windfor caftle 10 i. a day - - 182 10 o 
 
 Conftable of Dover caftle - - - 4,100 O O 
 
 Eleven mafters in chancery lOO/. each - - 1,100 o O 
 
 Chief Juftice in Eyre, north of Trent - - 1,666 13 4 
 
 Ditto, fouth of Trent ... 3,466 13 4 
 
 Attorney general - -■ - - 8168 
 
 Solicitor general - * - - - 70 O o 
 
 Advocate general - - - - 20 o O 
 
 King's council , - . - 480 o o 
 
 King's prime ferjeant - - - - 41 6 jo 
 
 Attorney general attending the late board of trade - - 115 10 o 
 
 Solicitor general, ditto « - - n^ 10 o 
 
 Clerks of the council, ditto » - _ 400 o o 
 
 Carried over £ 33,658 o 6
 
 viii APPENDIX, 
 
 Brought over 3^33)658 6 
 
 Keepers of the council chamber attending the late board of trade 7300 
 
 Four clerks of the council _ _ _ 1,000 o O 
 
 Keepers of the council chamber - - - 9150 
 
 Mafter of the ceremonies, in lieu of bills - - loo O O 
 
 Ditto on his allowance - - - 200 O O 
 
 Afliftant mafter - _ _ _ 121 13 4 
 
 Marfhal of ditto - - - - 100 00 
 
 Genealogift of the order of the Bath - - 100 o 
 
 Bath king at arms - - - 90 o o 
 
 Secretary to the order of the Bath - - 90 o o 
 
 Regifter of ditto - - - - 90 o o 
 
 Gentleman uflier of the order of the Bath - - 90 o o 
 
 Meflenger of ditto - - - 40 o o 
 
 King's heralds and purfuivants at arms - - 5 '3 6 8 
 
 His majefty's ferjeants at arms (nine) at 5^. bd. a day each 903 7 6 
 
 Mafter general of the ordnance . - - 175 18 4 
 
 Lieutenant general of the ordnance - - 66 13 4 
 
 Surveyor general of ditto 2 .f. a day - - - 36 10 o 
 
 Clerk to the board of ordnance 2f. a day - - 36 10 O 
 
 Storekeeper of the ordnance 3^. a day - - 54 15 o 
 
 Clerk of the deliveries 1 f. a day - - - 18 5 o 
 
 Treafurer of the ordnance - - - 40 o o 
 
 Warden of Windfor foreft - - - 587 9 ii 
 Keeper of the houfe park at Hampton court 62 /. per annum, and 
 
 8^. a day - - - - 74 3 4 
 Ranger of St. James's and Hyde parks 1,154/. 15^. per annum, and 
 
 lis. 6^. a day . - - 1,382 17 6 
 
 Keeper of the houfe park at Windfor - - 1,000 o o 
 
 Conftable of Dean foreft - - - 210 o O 
 
 Warden of Waltham foreft _ _ ■ 270 o O 
 
 Riding forefter in New foreft - - - 500 o o 
 
 Ranger of Richmond park 6 i.' a day - - 109 10 o 
 
 Under keepers of ditto - - - 69 o o 
 
 Out ranger of Windfor foreft - " - - 900 o o 
 
 Keeper of the records in the Tower - - 500 o o 
 
 Keeper of the council records _ _ - ^00 o o 
 
 Keeper of the records at Whitehall - - 160 o o 
 
 Keeper of the records of forfeited eftates - - 200 o o 
 
 Keeper of his majefty's libraries - - 300 o o 
 
 Houfekeeper at Weftmiiifter bd. a day - - 926 
 
 Keeper of the lions in the Tower lis. bd. a day - 228 2 6 
 
 Keeper of the tennis court 120/. a year, and 8^. a day - 132 3 4 
 
 Under keepers of Cranbourne chafe - - 20 o 
 
 Ranger of Salcey foreft - - - 40 o o 
 
 Twenty-two clerks of the treafury 100/. a year each - 2,200 o o 
 
 Sorter of books in the treafury . _ - ^00 o o 
 
 Meflengers for carrying letters - - 300 o o 
 
 Ranger of books in the treafury - - - 40 o O 
 
 Keeper of the rooms at Whitehall - " - 40 o o 
 
 Houfekeeper at the treafury - - - 80 o o 
 
 One of the folicitors to the treafury - - 200 o o 
 
 Keeper of the records in the Tower, for three clerks - 150 o o 
 
 Carried forward ^48,291 13 9
 
 APPENDIX. ix 
 
 Brought forward / 48,729 13 9 
 
 One of the digefters of records at Whitehall - -^ 50 o 
 
 Two others . . . _ 800 o o 
 
 Knight harbinger 20 marks a year, and 10;. a day - 195 16 8 
 
 Latin fecretary - - _ » 280 O o 
 
 Surveyor general of lands - _ . 1,000 O O 
 
 ^Surveyor of woods - - . ioq o o 
 
 One of the auditors of the imprefts - ■ ■3^6 8 
 
 Another -_ _ _ _ •j-j68 
 
 One of the auditors of the land revenues - - 100 o o 
 
 Another - . . . ^^o o o 
 
 Another - _ . ^00 o o 
 
 Mafter of the hawks - . . i>372 10 
 
 Examiner of plays - « _ .qq q o 
 
 Gentleman u(her of the black rod - _ 200 o o 
 
 Mafter of mechanics - - _ ico o o 
 
 Clerk affiftant of the houfe of commons - . 200 o o 
 
 Additional allowance - ... .qq q q 
 
 Clerk of the houfe of commons - - 1000 
 
 Meflenger of the prefs - - _ 60 o o 
 
 Engraver of feals - - - . eo o O 
 
 Auditor of the exchequer, for attendance in vacations - 200 o o 
 
 Ditto, on his fee - - ■ _ 260 3 i. 
 
 Clerk of the pells - - - _ 195 84 
 
 Ditto - - - - . 172 6 8 
 
 For extra bufinefs in the auditor's office - . 100 o 
 
 Regifter of loans - - - _ 50 o o 
 
 Deputy chamberlains of the exchequer - . 40 o 
 
 Ditto for forting records _ _ . qqq q q 
 
 Ditto for faid fervice - - . 80 O O 
 
 Senior teller of the exchequer - - _ ■23 6 8 
 
 Three other tellers - - - 95 o o 
 
 Auditor's clerks in the tally court - - 56 10 O 
 
 Clerk of the pells in the tally court - - 500 
 
 Two chamberlains in the exchequer - . 104 6 8 
 
 Four meffengers of the exchequer - - 27 7 4 
 
 Ditto on their termly and vacation fees - - 208 O o 
 
 Two grooms of the exchequer - - - 200 
 
 Meflenger of the chamber - - - 90 16 8 
 
 Porter of the exchequer - - - 20 o O 
 
 Clerks of the exchequer, on their Latin order - - 35 o o 
 
 Ufher of the exchequer - - - 6 13 4 
 
 Curfitor baron in the court of exchequer - - 163 b 8 
 
 Ditto more - - - 100 o O 
 
 Solicitor in the court of exchequer - - i^o O O 
 
 Clerk of the pipe - - - 107 4 2 
 
 Comptroller of the pipe - ' - - 40 o o 
 
 Secondaries in faid office - - - 20 o o 
 
 Treafurer's remembrancer - - - 64 2 i 
 
 Two fecondaries in faid office - - - 900 
 
 Second fecondary in ditto - - - 26 J3 4 
 
 Clerks in faid office . - - - 1150 
 
 Carried forward /5!>,2 78 4 o 
 
 [BJ ^0 i +
 
 APPENDIX. 
 
 Brought forward £ 58,238 4 O 
 
 Deputy chamberlains in the exchequer for ftriking tallies ■- 20 O O 
 
 Two others for joining tallies - - - lO o o 
 
 King's clerk in the crown office - - 50 O O 
 
 Clerk of the foreign efireats in the court of common pleas 20 O o 
 
 Foreign appofer in the exchequer - - - 40 O O 
 
 Clerk of the nichills - - - 20 O O 
 
 Clerks in the pipe office, payable every fecond year - 4 11 8 
 
 King's remembrancer - - - 55 ^7 4 
 
 Clerks in faid office - - - 7134 
 
 Secondaries in faid office - - - 800 
 
 Clerk of the pleas - - - - 500 
 
 Clerks in faid office - - - i 10 O 
 
 Clerk of the foreign eftreats - - - 96 13 4 
 
 The band of gentlemen penfioners - - 6,000 o O 
 
 Office keeper of the treafury for neceflaries - - 480 O o 
 
 Ranger of Windfor foreft for holding fwanemote courts - 40 O 
 Keeper of the weft gate in Hyde Park, for watering the road 
 
 anno 1784, 65/. anna 1785 - - - O o O 
 
 Ranger of Hyde Park for watering the ring - 200 o O 
 
 Corporation of Lyme Regis for repairing the pier - 100 o p 
 
 Under clerks of the council for attending matters of trade - 300 o O 
 
 Keeper of the lords journals, and for houfe rent - 230 5 6 
 
 Clerk of the hanaper for the expences of that office - 2,000 o O 
 
 MefTengers attending the chancellor of the exchequer - 73 O O 
 
 Salaries payable in the office of lord chamberlain - 10,100 18 3 
 Secretary to the commiffioners for the regulation and management 
 of the affairs of the Eaft India Company on \, ^00 1, per annurn, 
 
 from 24th Augull: 1784 inclufive - - 1,500 o O 
 
 Under fecretary to ditto 600/. per awiuniy ditto - 600 o O 
 
 Solicitor to ditto 600/. />£?• (7;;«?/OT, ditto - - 600 O O 
 
 One chief clerk to ditto 400/. per annum., ditto - 400 o O 
 
 One clerk to ditto 300/. /itr <7«Maw, ditto - - 3C0 O 
 
 One ditto to ditto i^ol. per annum, ditto - - 150 o O 
 
 "J wo ditto to ditto 80/. per annum, ditto - - 160 o O 
 
 Accompt<int to ditto 130/. /)^r «?/«;//«, ditto - - 130 o o 
 
 Oliice keeper to ditto 48/. /)^r tf««w;«, ditto - - 48 o o 
 
 Neceliary woman to ditto 48/. ^«' rt«7j«OT, ditto - 48 o o 
 
 Three meflengers to ditto 50/. /i^r <7w.'z/w each - - 150 o o 
 
 jC 82,187 13 5 
 
 EIGHTH CLASS. 
 
 The S<ilaries and Pcnfioiis of the High Treafurer, or Commiffioners of the Treafliry, and 
 
 Chancellor of the Exchequer. 
 
 Commiffioners of the Treafury - - 8,coo o o 
 
 Firft comniiffioner _ _ - 4,022 o O 
 
 Chancellor of the exchequer _ - - 1,800 o o 
 
 1 13,822 o o
 
 APPENDIX. xi 
 
 OCCASIONAL PAYMENTS. 
 
 Equipage to miniflers at foreign courts 
 
 Extra extraordinaries to ditto . - _ 
 
 For the poor of the city of London 
 
 For the French proteftant clergy 
 
 Ditto laity - - . _ 
 
 Miniflers of the Vaudois churches, &c. 
 
 Lord almoner for alms - - _ 
 
 Lord chamberlain for gate alms and maundy 
 
 Miniflers to defray the expences of their pafTages to the plantations 
 
 To the proteftant difTenting miniflers in England 
 
 Ditto in Ireland . _ . _ 
 
 For the relief of certain French proteftants 
 
 Prefents to foreign miniflers - - - 
 
 Foreign fecret fervice - _ _ 
 
 Home fecret fervice - - - 
 
 Special and contingent fervices 
 
 Law charges - _ _ _ 
 
 To his majefly's mefTengers to enable them to perform foreign 
 
 journies - - _ _ 
 
 Sheriffs for the convi£lion of felons 
 Ditto for over payments on their accounts 
 Riding charges, JirV. to the mefTengers of the exchequer 
 Rent of the privy feal office _ . - 
 
 Ditto of the fecretary of flate's office 
 Chelfea water works for fupplying the treafury 
 Ditto for Kenfington palace and gardens 
 Ground rent of Cumberland houfe 
 
 Rent of Mote park - - - 
 
 Serjeant at arms attending the houfe of commons, for necefTaries 
 Officers of the houfe of lords and commons 
 Chairman of the feffions at Weftminfler, for dinners 
 Expences in Windfor great park 
 Remembrancer of the city of London for impoft on wines anno 
 
 1784, 98/. 14^. anno L785 _ _ _ 
 
 Governor of the Ifle of Wight for furplufage on his account 359 15 6} 
 
 Deputy chamberlains of the exchequer, and officers of the tally 
 
 court - - - - 213126 
 
 Sir Sampfon Wright for an horfe patrol - - 2,913 19 6 
 
 £ 147.764 13 "I 
 
 [Bj2 
 
 £ 2C0 
 
 
 
 
 
 1,401 
 
 15 
 
 9 
 
 1,000 
 
 
 
 
 
 i,7'8 
 
 4 
 
 
 
 6,872 
 
 16 
 
 
 
 1,845 
 
 10 
 
 4 
 
 900 
 
 
 
 
 
 1,119 
 
 
 
 
 
 140 
 
 
 
 
 
 1,700 
 
 
 
 
 
 800 
 
 
 
 
 
 500 
 
 
 
 
 
 769 
 
 17 
 
 
 
 31,878 
 
 10 
 
 6 
 
 7,000 
 
 
 
 
 
 34.785 
 
 5 
 
 I 
 
 12,000 
 
 
 
 
 
 10,000 
 
 
 
 
 
 15'740 
 
 
 
 
 
 3'045 
 
 4 
 
 8 
 
 2,808 
 
 I 
 
 6 
 
 220 
 
 16 
 
 
 
 3'i 
 
 15 
 
 
 
 52 
 
 14 
 
 
 
 150 
 
 
 
 
 
 316 
 
 18 
 
 6 
 
 323 
 
 10 
 
 
 
 1,025 
 
 12 
 
 I 
 
 1,409 
 
 
 
 
 
 218 
 
 8 
 
 6 
 
 4,024 
 
 7 
 
 6
 
 xu 
 
 APPENDIX. 
 ABSTRACT of the foregoing Account. 
 
 Firft clafs 
 
 Second clafs 
 
 Third clafs 
 
 Fourth clafs 
 
 Fifth clafs 
 
 Sixth .clafs - 
 
 Seventh clafs 
 
 Eighth clafs 
 
 Occafional payments 
 
 To cancel exchequer bills 
 
 Total 
 
 ^ 192,000 
 
 
 
 
 
 32'955 
 
 
 
 
 
 75>543 
 
 14 
 
 7i 
 
 138,641 
 
 16 
 
 3 
 
 89,799 
 
 
 
 ^h 
 
 125,757 
 
 17 
 
 3 
 
 82,187 
 
 '3 
 
 5 
 
 13,822 
 
 
 
 
 
 147,764 
 
 13 
 
 "1 
 
 50,000 
 
 
 
 
 
 ;£ 948,471 
 
 15 
 
 9 
 
 Memorandum. — This account contains the difburfements to which the civil lift is liable, 
 of which feveral articles yet remain unpaid ; and where the exadt charge cannot be afcer- 
 tained, the fame is eftimated as nearly as poiTible. 
 
 But the exchequer bills being now all paid off, there remains the fum of nearly 900,000/. 
 for the expences of the civil lilt, which is the amount at which the charges of that depart- 
 ment may now be eftimated. Though, were it neceilary, furely coniiderable retrench- 
 ments might be made in the above expenditure.
 
 APPENDIX. 
 
 N° II. 
 
 IT may be proper to mention, for the information of fuch as are defirous of 
 being thoroughly acquainted with the finances of this country, that it is a 
 rule which the houfe of commons have obferved, and which indeed is confirmed 
 by a particular aft of parliament (20 Geo. III. cap. 40.*) never to grant any 
 money except upon eftimate. Such eftimates are often fallacious, but it is 
 furely fome ground to go upon, and fome check upon public extravagance and 
 peculation. After the money is thus voted, it is appropriated by a fpecial law, 
 which direfts that all the fupplies of the year be applied to certain fpecific purpofes. 
 In addition to thefe checks, a pradice was begun in the reign of Queen Anne, 
 of laying before parliament a paper entitled. The Difpojition of Grants-, becaufe 
 it contained an account of the manner in which the grants of the preceding year 
 had been difpofed of Thefe papers are annually printed in the Journals of the 
 Houfe of Commons. A colle6i:ion of them from 1721 to 1770, was publiflied 
 by Sir Charles Whitworth in 177 i, in one volume folio. But there are more 
 ancient accounts of the kind for the years 17 11, 17 12, and 17 ij, &c. in 
 Commons Journals, vol. xvii. p. 282. 293. and 494. For the fake of explain- 
 ing the nature of this account to any perfon who may not have accefs to thefe 
 fources of information, it was thought proper to print a copy of the lafl paper 
 of the kind drawn up, refpedling the grants for the fervice of the year 1788. 
 
 * Nothing can be (Ironger than the words in the preamble to this ftatute : " And whereas the 
 " method prefcribed by the faid aft (namely the 15 Geo. III. cap. 33.) is contrary to the ufage 
 *' of parliament, with refpeft to grants for other public fervices, which is by fums voted aa-- 
 " nually, founded upon proper eltiraates, &c. &c."' 10
 
 XIV 
 
 APPENDIX. 
 
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 APPENDIX. 
 
 N' III. 
 
 TABLES of the PROGRESS of the moft important Branches of the 
 
 PUBLIC REVENUE. 
 
 AMONG the other fources of information for the purpofe of carrying 
 on this work, which the Author collefted, he had the good fortune to 
 procure fome large maps or tables, containing the progrefs of fome of the 
 moft produdlive branches of the revenue. They were probably drawn up for 
 the confideration of fome zealous and att€?ntive minifter, who was defirous of 
 cftablifhing fome ufeful regulations in the finances of the country. The 
 following accounts are abftrafts of the moft important particulars contained in 
 the tables. It is with regret that they are publiftied without being brought 
 down to the prefent time. But after remaining for above three years at the 
 treafury, they were returned in their original ftate, and are likely to remain 
 incomplete, while the prefent minifter continues at the head of that de- 
 partment.
 
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 OSroONONNOO o OOO 
 
 r<^ « N ^^ M t^ rt-OO NO 
 0\ (SVO N t^ -*- -^l- N -f 
 ONOO 00 C^ OSCO — -^ « 
 
 m O tj- -^i- 'ri-oo Ml LTiNO 
 
 MH >M M MM »4 
 
 '^oo os -' ■+ r^ -^i- u-, ^s, 
 NO -+1^^ osOsr>.o •-< 
 
 OO'-' loN ONCOQ ■-" *~r\ 
 
 NO »J^tr\O00 i^«-" «-/-»ON 
 « 00 VO r*^ m*0 t/N N 00 
 
 r>. osoo NO r- r>. -^ o os 
 
 O 
 
 ON 
 
 
 
 
 fe 
 ^
 
 APPENDIX- 
 
 xxur 
 
 \0 r^ -^ 0\0 N On •- O 
 
 li-i N •-« •-• W O OnOO t^ 
 \r3 r^ O *^ ^J-^^0 i-n -^ tJ- 
 
 N r^o\pno ^ O CO 
 
 N On e^ fo •* ''f t^*^ 
 
 o^ ^^ o^ r^oo r^ Ti- o 
 
 M O-^ Ti- t--. N N 
 
 0> — -• r^ On "-" 
 00 ir>\0 1^00 NO 
 
 O N 
 
 « O »^*^ « On •»*• 
 
 CO m o *^ r^ r^ r-* 
 
 r^OO t^ ly-t i^ "tJ- ij-> 
 00 — >-« OQ 0\ O rO 
 
 ■^ ■-« OO On N 1^ r>H 
 
 N w 
 
 N «-• « 
 
 00 
 
 o\ 
 
 ^O© O *^ -^ N m f^ »/N 
 »- O -^'O »-.-AO -I M — 
 
 r-^^o -^o o OO ON *- -^ 
 
 t^ON'-O'^OvO N MNO 
 
 CnOO On N O On O O O 
 
 O r^ r^ f«^VD VO N 1-^ 
 NC CO -^ - ONNO NO NO 
 
 u-^ r^ CO 'i-oo c<% On f-" 
 
 <j-t On u-»oo O 00 --i-NO 
 0-«--0'-0 
 
 On 
 
 Ov 
 NO 
 
 OO ly-. OnOO no fo H- rn 
 •rt- O ^ij-iN ti-ONr^ 
 
 O On -4 LA Ln »^ "« 
 '«*- rN. r^ Lo — 00 t^ 
 On i-" 00 GO — t^ O 
 
 r^i I— r-^ r^ -4* "-• fO 
 ro CO N CO CO CO c*^ 
 W N N N N N N 
 
 to M^ li^ U^ f^ l^NO O T^ 
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 NOO "OO OCONONO O 
 ij-iOO J-O -• -^00 C4 NO f~^ 
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 « M « IH M -^ 
 
 N trsi^rv,r^ONN tJ- 
 oo cj -^-ri-r^coo ■- 
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 r--.rv,'-'Noco NOONO 
 
 Lou-v'-' i^co«j->r» u-\ 
 
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 NO r-, u-*oo '■i- '^ Tt- r^ 
 C?\Oco'^ r*Go i^N 
 
 — NO « i« Tt- O N NO 
 
 r<«ror<NcnNN 
 
 lONO ^ i>^VO "W-NO 
 « so '-••-' N t^ (^ 
 00 NO CO CO N CO r-, 
 
 0\ ON L^OO <-• N tJ- 
 
 os — <-• CO CO On r^ 
 
 M i-i M M t4 N M 
 
 .- i-^ N r-^ u-iNO r-- O r4 
 
 ■<*- -4- N O r^NO IjO O LO 
 
 *^ O OOONO t^ -^ r^sD 
 
 CO CO O N NO M coNO O 
 OMOnO-'-NON 
 
 N OnOO <- OnCO no - 
 to M C^ -"d^NO N r^oo 
 Tj- OnOO '^j- r^ uo ■^mD 
 
 "^OO O CO O lO N t-v. 
 "ri-'.^t^L*-,LOCOON>-0 
 I— CO -"^NO CO fO N CO 
 
 U-1 N to "^ 00 roOO 'J- 
 CO I^OO 'rhNO N NO O 
 N LO-rh'^ONCN>-Oi-t 
 
 no<>tJ-no t-^-^r^ 
 CO Lo CO On N N r^ N 
 
 CO l>^ U- L/-. lO Onco t^ 
 
 O^OO OS -^ rh LA-r 
 ■^ CO O CO N NO *^^ 
 
 O On CO r^ OnOO On 
 
 NO r-^ r>. — OnOO no 
 NO On N ONNO SO ^ 
 
 I- ci -^ — -^ o r>. 
 w « w « « N ^ 
 
 On 30 
 
 MHwIrtfrUwIcI 
 Hid ^ -* j NO O •-» 
 
 ^I 1 
 
 N On O O N « 
 
 *^ -^ - 0\ r^ ONNO - "-• 
 rj ONcocor>.NNo »j->t^ 
 
 M CO ON -^ N i-O CONO "^ 
 O CO ■^^00 -:}- O r-^NO »0 
 
 O r^'- t^O O i-^OnO 
 tONtnN cococoN TO 
 
 NO 
 
 ON 
 
 mW W"* '^I'* mIc» »«1-* wl^f 
 
 O OS 11 ^ lA t-^ ■ 
 
 N i-oOO Tf- CO -^ On i-r\ 
 ONONONTi-ThO On-^ 
 00 O\|-^^N\O00CO 
 
 CO C^ ^-N. CO '4- ■^^ On 
 cocoN u-iN'-'O O 
 
 NO cor^cor-^ONt-~'-* 
 wtotstON ^^ n to 
 
 On 
 
 NO 
 
 •4* hWi^ 
 
 NO u^ OnOO 
 
 ' 00 -^ On 
 
 •^O lOONM NNONO 
 
 Onco 00 o n On — NO 
 
 O N -" o N -^ "-^"^ 
 
 H^ODNO -^r^ooo CO 
 On ^c>:i 00 -« 00 On On 
 
 NO lONO iJ-\ ON O OO 1-^ 
 
 cot<^tocoto"^to to 
 
 CO 
 NO 
 
 _ - H CO rj- tONO 
 U-i tJ- co*0 « M N 
 
 00 -<*- loNO -<*- N -^ 
 
 CO CO »-0 !->- O -^OO 
 
 -^ r*- t*^ CO i-^ O «j-» 
 
 rf-OO O N O OO O 
 
 Onco >-« N li-^ ON OS 
 
 « r^NO NO M O On 
 
 CO t^ to t*^ -«t* ^ CO 
 
 ** N to H- i^NO r*^co CA 
 corotococococococo 
 
 O — N to Tf- ij-\\0 r^ 
 t\ t^ 1^ r^ t^ f^ IN. c^ 
 
 eo OnO^ Nto'^f-tj^ 
 Th -^ "-A '-o i-o uo <-o <-o 
 
 NO rv.00 On O •« N 
 
 t>-t LO Ij-, l/-iNO so NO 
 
 r ,. h-. r^ i^ r^ t~^ i^ 
 
 ..^ 
 
 ,o 
 
 ;-■ 
 
 ^ 
 
 
 cd 
 
 S 
 
 O 
 
 JJ 
 
 ^ 
 
 
 
 
 o\ 
 
 
 a, 
 
 J3 
 o 
 
 o
 
 xxir 
 
 APPENDIX. 
 
 An ACCOUNT 
 from Midfummer 
 
 of the annual grofs PRODUCE of the EXCISE 
 17 1 1, to Midfummer 1765, diftinguifliing the progrefllve 
 
 State in different Periods of Peace and Warj together with the Charges of 
 Management, and Net Produce thereof. 
 
 Years end- 
 ing at Mid- 
 fummer. 
 
 Grofs Produce. 
 
 Charges of 
 Mjnagemcnt. 
 
 Net Produce, after 
 deducing the 
 Expence of Ma- 
 nagement, and 
 other Charges. 
 
 1712 
 
 Peace proclaimed, nth April 1713. •^ 
 
 Peace. 
 
 Peace. 
 
 I- 
 
 1,907,684 
 
 1,907,684 
 
 26,888,869 
 
 £■ 
 205,041 
 
 205,041 
 
 1,650,672 
 1,650,672 
 
 I7I3 
 
 2,217,156 
 
 216,220 
 
 1,926,972 
 
 1714 
 
 2,111,559 
 
 210,557 
 
 »,«35'523 
 
 ly; 
 
 2,296,139 
 
 210,096 
 
 2,025,518 
 
 1716 
 
 2,422,481 
 
 213,414 
 
 2,121,262 
 
 1717 
 
 2,516,441 
 
 214,383 
 
 2,205,269 
 
 1718 
 
 2,540,587 
 
 210,615 
 
 2,208,393 
 
 1719 
 
 2,558,957 
 
 203,659 
 
 2,215,269 
 
 1720 
 
 2,526,020 
 
 201,755 
 
 2,231,019 
 
 1721 
 
 2'574.437 
 
 201,952 
 
 2,253,480 
 
 
 21,763,777 
 2,758,511 
 
 1,882,651 
 203,861 
 
 19,026,705 
 
 1722 
 
 2,421,876 
 
 1723 
 
 2,787,250 
 
 208,203 
 
 2,456,518 
 
 1724 
 
 2,638,115 
 
 208,925 
 
 2,336,992 
 
 1725 
 
 2,877,019 
 
 214,942 
 
 2,529,293 
 
 1726 
 
 2,772-397 
 
 232,222 
 
 2,402,267 
 
 1727 
 
 2,906,809 
 
 225,051 
 
 2,621,346 
 
 1728 
 
 2,700,928 
 
 228,739 
 
 2,^14,467 
 
 1729 
 
 2,711,719 
 
 221,856 
 
 2,416,378 
 
 J730 
 
 2,935,840 
 
 229,405 
 
 1,973,204 
 
 229,309 
 
 2,636,914 
 
 
 25,088,588 
 2,951,097 
 
 22,236,051 
 
 1731 
 
 2,660,422 
 
 J732 
 
 2,964,617 
 
 228,479 
 
 2,670,442 
 
 «733 
 
 3,i4b,556 
 
 230,745 
 
 2,862,392 
 
 «734 
 
 2,981,857 
 
 231,242 
 
 2,698,512 
 
 1735 
 
 2,896,545 
 
 233,219 
 
 2,608,843 
 
 1736 
 
 2,905,183 
 
 226,774 
 
 2,618,051 
 
 1737 
 
 2,974,910 
 
 230,631 
 
 2,675,604 
 
 1738 
 
 3,006,257 
 
 234-33; 
 
 2,697,130 
 
 1739 
 
 3,061,842 
 
 231,999 
 
 2,758,297 
 
 2,076,733 24,247,693
 
 APPENDIX. 
 
 XXY 
 
 War with Spain, 19th Oilober 1739. f 
 
 War with France, 15 th March 1744. 
 
 Peace, 7th Oftober 1748. 
 
 War with France, i8th March 1756.-^ 
 
 Peace, 10th February 1763. 
 
 { 
 
 •3'444'977 
 
 
 
 
 Net Produce, after 
 
 Years end- 
 
 
 
 dedudling the 
 
 ing at Mid- 
 
 Grofs Produce. 
 
 Charges of 
 
 Expence of Ma- 
 
 fummcr. 
 
 
 Management. 
 
 nagement, and 
 other Charges. 
 
 
 /. 
 
 £■ 
 
 ^• 
 
 1740 
 
 2,876,028 
 
 231,702 
 
 2,580,329 
 
 1741 
 
 2,676,642 
 
 2-27,505 
 
 2,366,882 
 
 1742 
 
 2.913,246 
 
 237,798 
 
 2,587,716 
 
 •743 
 
 2,927,465 
 
 234,613 
 
 2,609,193 
 
 >744 
 
 3,206,54s 
 
 235,425 
 
 2,877,464 
 
 174s 
 
 2,993,526 
 
 236,95s 
 
 2,682,467 
 
 1746 
 
 3,046,836 
 
 238,899 
 
 2,729,144 
 
 '747 
 
 3,311,187 
 
 239,246 
 1,882,143 
 
 2,974,141 
 
 
 23>95''47S 
 
 21,407,336 
 
 1748 
 
 3'433.586 
 
 242,719 
 
 3,088,813 
 
 1749 
 
 3,501,926 
 
 245,776 
 
 3. '48.497 
 
 1750 
 
 3'549'«53 
 
 243,567 
 
 3.185.408 
 
 1751 
 
 3,636,765 
 
 253.756 
 
 3,270,611 
 
 1752 
 
 3.53S'545 
 
 263,901 
 
 3,151,080 
 
 1753 
 
 3,672,316 
 
 254,970 
 
 3,287,015 
 
 1754 
 
 3,830,510 
 
 257,059 
 
 3'453.'77 
 
 1755 
 
 3,813,198 
 
 264,607 
 
 2,026,355 
 
 269,934 
 
 3,430,248 
 
 
 28,973,699 
 
 26,014,849 
 
 1756 
 
 3'73i>z59 
 
 3,350,992 
 
 1757 
 
 3,408,982 
 
 267,002 
 
 3,028,254 
 
 1758 
 
 3.677'7'9 
 
 274,514 
 
 3,286,825 
 
 J7';9 
 
 3.874.65s 
 
 276,373 
 
 3.470.577 
 
 1-60 
 
 4,302,623 
 
 278,002 
 
 3.887,349 
 
 1761 
 
 5,137,229 
 
 288,680 
 
 4,612,220 
 
 1762 
 
 5.14S.746 
 
 291,589 
 1,946,094 
 
 4.592.528 
 
 
 29,278,213 
 
 26,228,745 
 
 1-63 
 
 4.938.9:7 
 
 297,732 
 
 4,480,147 
 
 1764 
 
 5,294,081 
 
 299,672 
 
 4,808,640 
 
 1765 
 
 5,211,919 
 
 3°i.935 
 
 4.732,307 
 
 899.339 14,021,094 
 
 N. B. The net produce, and the charges of management, are not fully equal to the grofs produce, 
 as there are feme other charges, which it was thought unneceflary to particularife, to be alfo de- 
 duced. 
 
 [D)
 
 XXVI 
 
 APPENDIX. 
 
 c 
 
 !s 
 
 c 
 o 
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 d 
 
 Qu. 
 
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 t^ t^ rv, r>. 
 
 bo 
 
 c 
 
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 ■x: 
 
 J rn t^ Ovoo trtoo ■* O 00 
 
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 ■w 
 
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 j-co 
 
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 tS? " '^''^ 
 
 ■*w> 
 
 SPJS 
 
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 § 
 
 
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 infori 
 
 1- 
 
 
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 vo 
 
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 9 
 
 ^ 
 
 
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 > 
 
 
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 ^ r> /^ X io X 
 
 SiS 
 
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 CU <^ u-»\0 oo 
 
 t^ 1-^ r^ t>» 
 
 ba 
 
 •§•-3 2 2 
 
 O 4* ti "
 
 APPENDIX. xxvii 
 
 An ACCOUNT of the grofs PRODUCE of the STAMP 
 DUTIES from Auguft 171 2 to ditto 1766, together with the 
 Charges of Management, and Net Produce thereof. 
 
 Years ending 
 
 
 Charges of 
 
 
 Auguft 
 
 Grofs Produce. 
 
 Management. 
 
 Net Produce. 
 
 
 £• 
 
 £' 
 
 £• 
 
 I7I3 
 
 107,779 
 
 14,295 
 
 93,483 
 
 I714 
 
 119,138 
 
 13,789 
 
 105,349 
 
 1715 
 
 146,493 
 
 ^SiS^'^ 
 
 130,991 
 
 I716 
 
 127,401 
 
 15,497 
 
 111,904 
 
 I717 
 
 137,867 
 
 15,685 
 
 122,182 
 
 I718 
 
 i37'099 
 
 16,717 
 
 120,581 
 
 1719 
 
 135,640 
 
 - 17,502 
 
 118,137 
 
 1720 
 
 167,016 
 
 18,670 
 
 138,345 
 
 1721 
 
 160,816 
 
 18,512 
 
 142,304 
 
 
 1,239,249 
 
 146,169 
 18,413 , 
 
 1,093,076 
 
 1722 
 
 143,099 ■ 
 
 124,685 
 
 1723 
 
 150,482 
 
 20,072, 
 
 130,409 
 
 1724 
 
 146,522 
 
 19,920 
 
 126,602 
 
 1725 
 
 149,608 
 
 21,825 
 
 127,782 
 
 1726 
 
 147,456 
 
 19,863 
 
 127,592 
 
 1727 
 
 ^SS.S^^ 
 
 21,212 
 
 ^?>^^2>5^ 
 
 1728 
 
 162,272 
 
 21,339 
 
 140,933 
 
 1729 
 
 153,948 
 
 19,940 
 
 134,008 
 
 1730 
 
 152,632 
 1,361,585 
 
 20,446 
 183,030 
 
 132, c86 
 
 
 1,178,550 
 
 '731 
 
 ^^S.Z35 
 
 19,974 
 
 145,361 
 
 1732 
 
 I4i,53» 
 
 20,126 
 
 1 2 1 ,404 
 
 1733 
 
 137,254 
 
 20,928 
 
 116,325 
 
 17^4 
 
 136,894 
 
 20,024 
 
 116,870 
 
 "^7:^5 . 
 
 139,581 
 
 20,826 
 
 118,754 
 
 1736 
 
 140,081 
 
 20,892 
 
 119,189 
 
 >737 
 
 »43,9" 
 
 21,243 
 
 122,668 
 
 1738 
 
 140,800 
 
 20,246 
 
 120,554 
 
 »739 
 
 138,024 
 1,283,411 
 
 20,554 
 
 117,470 
 
 
 184,813 
 
 1,098,595 
 
 [D]z
 
 XXVIi) 
 
 
 APPENDIX. 
 
 
 Years ending 
 
 
 Charges of 
 
 
 Auguft 
 
 Grofs Produce. 
 
 Management. 
 
 Net Produce. 
 
 
 £• 
 
 £' 
 
 £• 
 
 1740 
 
 i37'45o 
 
 20,330 
 
 117,120 
 
 I 741 
 
 140,55 (> 
 
 22,079 
 
 118,476 
 
 1742 
 
 140,115 
 
 22,606 
 
 117,509 
 
 1743 
 
 139,837 
 
 24,226 
 
 115,611 
 
 1744 
 
 142,056 
 
 22.,833 
 
 119,223 
 
 1745 
 
 140,816 
 
 20,722 
 
 120,094 
 
 1746 
 
 iS'^-^SSS 
 
 20,851 
 
 113,481 
 
 1747 
 
 142,124 
 
 21,807 
 
 120,317 
 
 1748 
 
 i4i.,8o8 
 
 20^684 
 196,138 
 
 2Wi'9 \ 
 
 121^124 
 
 
 1,259,095 
 
 1,062,954 
 
 1749 
 
 139,359 
 
 117,640 
 
 1750 
 
 141,257 
 
 21,265 
 
 119,991 
 
 I75I 
 
 138,129 , 
 
 20,569 
 
 117,559 
 
 1752 
 
 138,804- 
 
 20,755 
 
 118,049 
 
 1753 
 
 134,884 
 
 23,021 
 
 1 1 1,862 
 
 1754 
 
 ^37^''5^ 
 
 20,562 
 
 116,589 
 
 ^755 
 
 140,738 
 
 20,629 
 
 120^109 
 
 175^ 
 
 149,762 
 
 20,557 
 
 129^,204 
 
 1757 
 
 23^,695 
 
 1,351,779 
 
 24,235 
 
 207,459 
 
 
 193,312 
 
 1,158,462 
 
 1758 
 
 292,684 
 
 24,958 
 
 267,725 
 
 1759 
 
 287,537 
 
 26,6-7 
 
 260,860 
 
 1760 
 
 290,292 
 
 27,085 
 
 263,207 
 
 1 76 1 
 
 308,804 _ 
 
 28,053 
 
 280,751 
 
 1762 
 
 292,972 
 
 27,358 
 
 265^614 
 
 1763 
 
 307,168 
 
 28,253 
 
 278,914 
 
 1764 
 
 305^353 
 
 27,083 
 
 278,269 
 
 1765- 
 
 310,725 
 
 28,810,. 
 
 281,914 
 
 1766 
 
 313,848 
 
 28,581 ; 
 
 285,266 
 
 
 2,709,383 
 
 24^,858 • [ 
 
 2,462,526 
 
 I ;.
 
 APPENDIX. 
 
 N' IV. 
 
 ACCOUNT of the EXCISES and other TAXES levied in the 
 ■■"' Provinces of Holland and Utrecht. 
 
 TH E taxes ralfed in Holland, and in the other provinces of the Dutch 
 republic, are either appropriated to defray the general expences of the 
 commonwealth, or levied for the purpofes of the particular towns or diftrids 
 where they are collecled. 
 
 As each Itate impofes its own taxes, and exafts them in any manner it thinks 
 proper, difputes fometimes occur refpecling the equality of the different rates, 
 and a conteft having arifen upon this fubjedt between the provinces of Holland 
 and Utrecht, committees were appointed to examine the nature and amount of 
 their refpeftive taxes and revenues, with a view of determining how far the pro- 
 portions of the two provinces were fairly adjufted. From the comparifon drawn 
 up upon 'that occafion (which was printed in the Dutch language) the following 
 account is taken. It will explain to the reader the mode of levying taxes in a 
 country, regarding which our information, in various points, has been rather 
 incomplete and defective ; and it proves how many fources of taxation exill: 
 there, with which we are as yet fortunately unacquainted. 
 
 The Author once intended to have ftated the fums mentioned in the fol- 
 lowing account in flerling money; but as the Dutch weights and meafures of 
 pounds, muds, lafts, ftoups, canns, aams, and ankers, cannot be fo eafily 
 converted into Englifli weights and meafures, he was convinced that it would 
 not prove of. any great utiHty. It may be fufficient to remark that the Dutch 
 accounts are kept in florins, ftivers, and pennings. That a florin or guilder is 
 
 lo nearly
 
 xxjt APPENDIX. 
 
 nearly equal to one fhilling and ninepence (eleven guilders being about a pound 
 ■ftcrling), that eleven ftivers make a fhilling fterling, and fixteen pennings a 
 ftiver. Thus the reader who may be defirous of knowing the exad rate of 
 excife duty paid on any article, may eafily make the calculation. But the 
 important objeft for us to know, is, the different articles that are excifed, and, in 
 fome cafes, in what manner the duty is levied. 
 
 I. EXCISES in the Province of Holland. 
 
 I. WIN E. 
 
 Inn-keepers and citizens pay the fame duty on all forts of wine, without diftin6lion j 
 namely, four ftivers per floup, and roth augmentation. 
 
 flarini. Stivers. Penniofs. 
 
 Hence for an aam, or 64 Dutch ftoups (equal to 40 Englifli 
 gallons) — — — 
 
 ■i%th augmentation — 
 
 Stamp or permit — 
 
 14 10 10 
 2. RECTIFIED SPIRITS. 
 The ftoup of Amfterdam pays fix ftivers, and i^th augmentation. 
 
 Florins. Stivers. Pennings. 
 
 Hence an aam — 19 4 — 
 
 ■j'v^th augmentation — I 18 6 
 
 Stamp or permit — • 14 — 
 
 12 
 
 16 
 
 ,~- 
 
 I 
 
 5 
 
 10 
 
 14 
 
 1 
 
 10: 
 
 ^^ 
 
 9 
 
 ~~ 
 
 22 b 6 
 
 3. MEAD. 
 This article pays the fame excife duties, augmentation, and fiamp, as wine. 
 
 Florins. Stirers. Penmngi, 
 
 Hence /i^r aam — 14 10 10 
 
 4. BRANDY and DISTILLED WATERS. 
 
 Thefe articles pay the fame excife and augmentation as mead and wine, but the ftamp 
 is higher, 
 
 FIcrms. StiTers. Penningj, 
 
 Thus an aam — 14 i 10 
 
 Stamp — •- 14..!. 
 
 »5 5 »o 
 
 ■O"'
 
 APPENDIX. xxxi 
 
 5- TOBACCO. 
 
 Florins. Stivers. Pennlngj^ 
 
 Merchants dealing in fnuff or tobacco, having no retail fhop, , . 
 
 pay^ yearly for a licenfe — — — 25 — — 
 
 Shopkeepers retailing tobacco pay- yearly for the liberty of dealing in that article, 
 according to the quantity they fold the preceding year. 
 
 Florins. Stivers. Penninjs. 
 
 Thus when they fell Ipfs than , 50oIb. — 23 — 
 
 From 500 to 1,000 — 6 6 — 
 
 From 1,000 to 1,500 — 12 — — 
 
 From 1,500 to 2,000 ■ — 25 — — 
 
 From 2,000 and upwards — 50 — — 
 
 Hence fnufF or tobacco confijmed in Holland, when .reckoned at the higheft, is only 
 taxed at the rate of a halfpenny />fr pound. 
 
 Florins. Stivers. Penning!. 
 
 Keepers of cofFee-houfes pay yearly for a licenfe to fell tobacco, 
 
 if at Amfterdam, Rotterdam, and the Hague ' — 20 — — - 
 
 If at Dordrecht, Haarlem, Leyden, Delft, and Gouda 12 — — 
 
 In the other towns and villages of Holland — 8 — — 
 
 6. BEE R. 
 Innkeepers and citizens pay alike, viz. 
 
 Florins. Stivers. Pennings. 
 
 For a^barre^ or tun — — i 10 — 
 
 Vc th augmentation — ~~ 3 — 
 
 Stamp — — — 6 — 
 
 I 19 — 
 
 Beer ufed by labourers in the harveft time, or brewed in the months of June, July, 
 or Auguft (on account of the warmth of the weather), pays but one-half of the excife,. 
 
 7. GRAIN ufed in BREWING.. 
 Brewers pay for the grain they make ufe of, according to the following rates : 
 
 Florias. Stiversi Penningj. 
 
 For the laft of wheat — — 3 — — 
 
 For the laft of rye — ~ I. 10 — 
 
 For the laft of barley or buck wheat ' K — — 
 
 Free of the 7'cth augmentation. 
 
 The brewers alfo pay every time they brew for the public 1 9 o 
 
 Stamp <— — «- "» 
 
 12 
 
 When for their own copfuroption — 
 
 2 I 8 
 
 — 12 —
 
 xxxii APPENDIX. 
 
 8. VINEGAR. 
 
 Florins. Stivtrs. Pcmurgs. 
 
 Vinegar made of wine or cyder pays the 80 ftoups of Am- 
 
 flerdsm, or five ankers — — — 4 >6 — 
 
 Tcth augmentation — — 9 10 
 
 Stamp — — — 12 — 
 
 5 »7 '0 
 Artificial vinegar made of figs, plums, i^c. for every five 
 
 ankers -^ — — — 3 12 — 
 
 ,',th augmentation — — 74 
 
 Stamp — — — 12 — 
 
 4 II 4 
 Vinegar made of beer pays for each tun, containing 621 ftoups 
 of Amfterdam, or nearly 86 Utrecht canns — 15-— 
 
 -fgth augmentation — — 2 8 
 
 Stamp — — — — 6 
 
 13 8 
 
 EXCISE on GROUND CORN. 
 
 Florins. 
 
 Stivers. 
 
 Pennings, 
 
 95 
 
 18 
 
 
 
 9 
 
 10 
 
 12 
 
 104 
 
 18 
 
 12 
 
 42 
 
 7 
 
 — 
 
 23 
 
 2 
 
 "-" 
 
 8 
 
 5 
 
 8 
 
 t 
 
 6 
 
 12 
 
 __ 
 
 Wheat and Egyptian barley pay per laft — 
 
 lijth augmentation — 
 
 Total per laft 
 Rye /)^r laft, including -^ th augmentation — 
 
 Oats, barley, and beans per laft, including J^th augmentation 23 
 But if the beans are ground tu fatten cattle, they are free of duty 
 Buck wheat /!«• laft, including f* th augmentation — 
 
 Flour of buck wheat, if imported, pays per icolb. weight, 
 including ,' th augmentation — — 
 
 Hence />^r laft of 4,5001b. 297 — — 
 
 Meal of oats, or barley, pays eight ftivers per lack, and T^th augmentation. 
 
 Florins. Stivers. Pennings. 
 
 Hence /ifr Lift — 12 6 6 
 
 Starch, bread, bifcuit flour, gingerbread, and all forts of cakes, are prohibited being 
 
 imported from foreign countries. 
 
 The in>portation of bread and flour from the country to the walled towns, is alfo 
 
 forbid. 
 
 Bread and flour brought from one town to another without this province, pay once 
 
 more the half of the excife. 
 
 " " Florins. Stivers. Pennings. 
 
 The country people in lieu of this excife on corn, pzy per head 
 ■if they confume wheat — — — 3 ^S """ 
 
 If rye — — — i 17 4 
 
 Children from four to 10 years of age are only charged at the rate of half a head j all 
 above 10 years- pay the full ta.x.
 
 APPENDIX. 
 
 xxxtu 
 
 10. S O A p. 
 
 Florins. Stivers. Penaingt. 
 
 For the boiling of a ton of foap, weighing 2401b. including ) 
 
 ,'cth augmentation — — « — j 
 
 Exciie on every ton of green foap g __ _ 
 
 Tith augmentation — — 18 — 
 
 Stamp — — 
 
 *3 
 
 9 — 
 
 10 7 — 
 
 Bleachers of cloths are free of one-half of this excife. Bleachers of new-made linen 
 and yarn are wholly exempted ; but both pay the whole excife for what they confumc, or 
 ufe in their own families. 
 
 II. SAL T. 
 
 There is paid for every fack — 
 
 Tsth augmentation 
 Stamp 
 
 Florins. Stlrers. Penningi. 
 2 10 — 
 
 — 9 — 
 
 3 4 — 
 
 Cowkeepers pay according to the number of their cattle. 
 
 For every fack 788 
 
 And four cows are allowed for the confumption of each fack. But this is only a mode 
 of rating the probable confumption of that commodity in different families, and raifing a 
 tax upon the fait ufed in their making cheefe and butter. 
 
 Florins. Stivers. Pennlngs. 
 
 Pickle pays /ifr anker, (forty Englifh quarts) — — 18 12 
 
 I'oth augmentation — . — I I4. 
 
 Stamp — — — 4 — 
 
 jz. BUTTER. 
 
 A ton or calk of butter, containing 3201b. pays of excife 
 
 i', th augmentation — 
 
 Stamp 
 
 4 10 
 
 Florins. Stivers. Pennings. 
 
 4 _ — 
 
 — 8 — 
 
 — 12 — 
 
 13. BUTCHERS MEAT. POULTRY, Uc. 
 
 All forts of cattle, oxen, cows, calves, hogs, poultry, &(. when killed, pay an excife 
 of one-feventh of their value, and ,'oth of augmentation. 
 
 Salt meat alfo imported from abroad, and falted with unrefined fait, pays the feventh 
 penny of its value, and ,'ith augmentation. All other fait meat, pickled pork, faufages, 
 and even tripe, pay in addition [per ton) the fum of — F. — 12 -— 
 
 All meat, pork, i3c. exported, receives a drawback of one- third of the duty paid. 
 If made ufe of by the Laft India Company, there is a drawback pfr loolb. 
 of — — - — F. — II I a 
 
 Part III. [E] If
 
 rxxnr A P P EN D IX. 
 
 , If fold for the ufe of either the great, or of the finall fifliery, there is a drawback, for 
 
 every 100 lb. of meat of — • — P\ i 5 2 
 
 icolb. of pork oT 138 
 
 It is fuigular that the Dutch fhould call the herring, the great, and the whale, tlie 
 /mall diheiyi , 
 
 , ■ 14. TURF and C O A L S. 
 
 Black or fhort digged turf pays /i^r ton 4 fti vers, including the Ath augmentation. 
 
 Thus the 5 tons — — — F, i — — 
 
 Grey turf 2 pence p^r tua, confequently ^«- 5 tons — — 10 — 
 
 Turf ufed by manufaiSturers, per 5 tons — 1 6 4 
 
 By brewers, diftillers, dyers, is c. per ^ tons — 13 12 
 
 For refining fait, making lime, earthen-ware, tiles,and bricks, ^^rfive tons — 6 J4 
 Small coals pay per hood for brewers, didillers, dyers, and fugar- refiners, includmg 
 
 T.th augmentation -t- 5 5 16 
 
 For bottle and glafe manufaiSurers, and iron founders i 12 — 
 
 And for all other people ' 634 
 
 Great coals fold by the weiglit, pay for a hundred fcales of 14,000 pounds, for 
 
 bre^v^^s, is'c. — F. 39 12 — 
 
 For all other perfons 46 4 — 
 
 Thimble manufanSlurers, in compliment to the induflry and labours of the fair fex, 
 
 are free. 
 
 J5. EXCISE on COFFEE and TEA. 
 
 This excife is levied in three different ways. 
 
 I. According to the income which the poflbfTor of a public office is known to receive, 
 in the following proportions : • 
 
 If producing /(^T (?«««;« F. 1,500 or above it, the annual tax is ^-15 
 
 1,200 — — — 12 
 
 800 — — — 8 
 
 600 — — 6 
 
 500 — __ _ ^ 
 
 400 — — — 3 
 
 300 — — 2 
 
 II. The fecond mode of taxing is according to the number of fervants a perfon 
 keeps. 
 
 Thus for 5 fervants or more — — F. 20 
 
 4 — — — 16 
 
 3 — — — 12 
 
 2 — _ _ 8 
 
 I — — — 4 
 
 III. But if a perfon is neither pofTefTed of a place under government, nor keeps any 
 fcrvant, he pays according to his laft year's income. 
 
 Thus if F. Sco or m.-jre was his lafl year's income F. 6 
 
 600 4 
 
 500 -- — — 3 
 
 400 — ~ — 2 
 
 300 — — — I 
 
 People whofe income is u:ider F. 300 or 26/. 5r, fterling, are exempted. 
 
 4 li
 
 A P P E N D J X. x%vr 
 
 If any perfon being taxed according to the place he holds in a public office, was thereby 
 to pay jefs than if he was taxed according to the number of his fervants, he is obliged to 
 pay according to the fecond mode. 
 
 In the fame manner if a perfon keeps one fervant, and has an Income of only 8o3 
 florins, he pays according to his income, being the higheft rate. 
 
 Dealers in coffee and tea are taxed in proportion to the quantity which they parchafe to 
 retail. If they keep in their fhop 51b. of tea, and lolb. of coffee, they pay F. 4 
 
 From 20 lb. of tea and 401b. of coffee • ^— 6 
 
 40 75 — • IS 
 
 80 150 and upwards ■ . 25 
 including the confumption of their families. 
 
 Coffeehoufe- keepers pay yearly at Amfterdam, Rotterdam, and the Hague 150 
 
 At Dordrecht, Haarlem, Delft, Leyden, and Goude ■ 60 
 
 In the other voting cities .1 ^e 
 
 And in the remaining towns and villages . 15 
 
 i6. The WEIGHING EXCISE. 
 
 There is commonly paid for every loolb, weight, including j^th augmenta» 
 
 tion F- 3 4 
 
 - Putivarjous jirti,cles, as fpicerles, teas, groceries, l5fc. p^y more ; which addition, 
 however, is generally, ftated to the account-of fuch foreigners as order tliefe goods from 
 
 HpllaHd. Henip.and hemp yarn pay only F. x 9 
 
 snd Ttth augmentation. 
 
 - - 17. FRUITS, 
 
 All forts of fruit, wherever produced, if fold in the province, pays an excife of ^e 
 eighth penny of its value. Filberts and chefnuts imported from abroad p;ay tlje t^Ifth 
 penny, and V^th augmentation. 
 
 Fruit, the produce of one's own garden, or purchafed to be made in a prefect, fs frcp, 
 
 18. EXCISE on CATTLE. 
 
 For every head of cattle, three years old and upwards, there is to be paid for the 
 fummer feafon, from the i ft April to 30th September, />^r month — F. 6 
 
 For the winter feafon, from ift October to 31ft March — 3 
 
 Which is at the rate of 54 ftivers, or nearly 5 s. flerling per annum. 
 
 Cattle becoming in April or'Oclober 2 years old, pay one-half. 
 
 Thefe taxes are alfo fubje<5t to the Voth augmentation. 
 
 19. FERRY and PASSAGE DUTY. 
 
 All matters of (hips, and proprietors of boats, coaches, and carriages, muft pay one- 
 fourth of the fum they receive for freight or hire, and the V.th augmentaiion. 
 
 20. EXCISE on OFFICES. 
 
 All places held under government pay a certain duty. 
 
 N. B. The particulars are not fet down in the account, as this is a Under fubjeit in 
 Holland as well as in other countries ; but if this duty is founded on the fair principlei of 
 'Dutch taxation, the rate would increafe in proportion to the fum received, which is the 
 only equal mode of taxing an income of that nj 'irc. 
 
 [EJ 2
 
 txxvi APPENDIX. 
 
 21. STAMP DUTIES. 
 
 The particular mode of levying thefe duties in the province of Holland, is not fpecified 
 in this account. 
 
 22. EXCISE on SERVANTS. 
 
 For keeping i fervant — . — F. 6 9 lo 
 
 2 — — — 19 4 10 
 
 .3 — -" 30 »3 4 
 
 4 — — — 44 6 12 
 
 5 — -— b4 4 6 
 
 And for all fervants above five, an additional tax of 10 florins each. 
 : • Farmers, gardeners, bakers, bleachers, refiners, mealmen, millers, butchers, brewers, 
 foap-boilers, and other manufacturers, pay for all fervants which they keep for the fake of 
 their bufinefs, but not for their families, per head . — — F. 3 
 
 23. EXCISE on COACHES and HORSES. 
 
 ^ A coach or covered carriage with four wheels, drawn by fix horfes, pays yearly F. 100 
 •,'''If drawnby 4horfcS- '•■■<>;i'Ji't i-i-i i—. — 75 
 
 r- r 2 — — _ 60 
 
 2 — — 50 
 
 For an open waggon, or a covered or uncovered chaife — 30 
 
 For a carriage drawn by a fingle horfe ^ — 20 
 
 A riding horfe pays yearly — — 15 
 
 And all thefe taxes pay Vcth augmentation. 
 
 Farmers are free, in fo far as refpedls their waggons, carts, or fledges ufed for their 
 farms, or to go to market ; but they muft pay for a chaife or pleafure carriage one-fifth, 
 and T th augmentation^ 
 
 Livery-ftable-keepers, and thofe who let carriages, pay according to the number of 
 horfes they keep. 
 
 For I horfe yearly — — — F. 20 
 
 2 and 3 — — — 40 
 
 4 — — — 60 
 
 .5 — . — 80 
 
 6 — — — roo 
 
 And for more than 6 horfes — ••-- 120 
 
 But from this is dedu£led the fum they pay to the ferry and paflage duty, being one-fourth 
 
 of their fare, and r'^th augmentation. 
 
 There is alfo paid, without diftindion of owners, for every horfe 2 years old and more, 
 an ear duty, as it is called, of 2 ftivers per month, and tith augmentation. 
 From 1 to 2 years old one penny per month. 
 All horfes under i year old, or not worth 15 florins, are exempted. 
 
 24. TAX on SOWN LANDS. 
 
 For all ground fown with corn, whether with hard, foft, round, or flat feed, or with 
 onions, turneps, carrots, potatoes, madder, ifc. (a fpecies of turnep called ftoppelknollen 
 excepted) there is to be paid for every morgen (being equal to two Engiifli acres) for the 
 fummer feafon, from loth April to thelaft of September, per month f- 4 8 
 
 And for tiie winter fcafon, per month — ~ 28 
 
 But
 
 APPENDIX. 
 
 But in general this excifc is converted into a t^x per morgen for the whole fummer 
 feafon of — -_ — F. i 2 — 
 
 And for the winter feafon — •— _- _ i o ^ 
 
 25. HARDWARE and LEAD. 
 
 An excife on hardware is alfo levied in Holland, but the particulars are not m«n- 
 tioned. Lead pays 5 ftivers, and Toth augmentation ^^r 100 lb. 
 
 26. VARIOUS TAXES. 
 
 There are various taxes paid in the province of Holland, the particulars of which are 
 not mentioned in this account, there being nothing parallel in Utrecht. It appears, 
 however, that duties are laid on marriages, on burials, on wood for burning, on newf- 
 papers, on periodical pamphlets, i^c, 
 
 27. TITHES. 
 
 The fifth penny of the yearly income arifing from tithes is paid in Holland, together 
 with the 100th and 200th penny by edid in 1772. Thus the half of this revenue is 
 exafled. 
 
 28. EXCISE on the ALIENATION of GOODS. 
 
 The 40th penny and r'oth augmentation, or 2$ per cent, is paid on the fale or alienation 
 of all goods and chattels, whether real or perfonal, excepting fruit, garden or field produdls, 
 tithes, horfes, oxen, and other cattle. 
 
 29. EXCISE on COLLATERAL SUCCESSIONS. 
 
 There is paid in Holland the lOth penny and Voth augmentation of all fums obtained 
 in a collateral way, to which the acquirer had no title excepting by the will of the de- 
 ceafed ; or if fuch acquirer is farther removed, according to the rules of the civil law, 
 than four degrees, from the perfon whom he fucceeds. 
 
 The 15th penny and ,'cth augmentation of what the hufband or wife acquire from one 
 another, if they leave no children got betvveen them. 
 
 The 20th penny and I'.th augmentation in all other cafes and fucceffions in linea 
 ailJcenclenU. 
 
 30. HOUSE and CHIMNEY DUTY. 
 
 A new furvey of houfes was made in 1733, and every houfe was charged the 12th 
 penny of the rent that it either paid, or was fuppofed to be worth at that time. There 
 was afterwards an additional 12th penny impofcd, according to the fame furvey. The 
 houfes in the country are taxed low, and no chimney duty is exacted in this province. 
 
 31. LAND TAX. 
 
 For every moreen there is paid an ordinary poundage, and alfo the 200th penny as an 
 extraordinary poundage. In fome diftridts the bell lands are taxed, ^^r morgen, at the rate 
 of F. 3 8 6— middling at F. 2 10 — and inferior ground at F. 2. 
 
 , The 
 
 XXXVll
 
 ^. 
 
 xxKviii A r P !• N D [ X. 
 
 The laft furvey was taken in 1654 ; the metKod then adopted is not exa>£lly known, but 
 it is faid, tiiat the land was eftimated at the rent wliich it was (uppofed it was worth at tlie 
 timie, and no alteration has fince been made. 
 
 Such is a general view of the taxes levied in the pirovince of Holland, to which there 
 might be added various duties exacfled in Amfterdam for its fole benefit and advantage. 
 There being additional taxes levied in that city on wines, brandy, beer, ground corn, 
 imported corn, cattle killed, turfs, coak, -fire- wood, fruits, houfes, carriages and mer- 
 chandifes of different kinds ; but the fubjevSt is not of importance fufficient to require a 
 particular difcuflion. 
 
 II. EXCISES in ahe Province of Utrecht. 
 
 I. WINE. 
 
 Inn-keepers pay for RhenifhjSpani(h,Burgundy,and Champagne wines,p«-aam F. 35 4 
 Citizens only — — — 24 4 
 
 Inn- keepers pay for other French wines, />^r aafn — — 31 18 
 
 Citizens only ' — — — '22 — 
 
 Whereas in the province of Holland, the fame duty is paid without any diftin(5tion in 
 regard to the nature or quality of the wine, or the perfons from whom it is exafted. 
 
 2. RECTIFIED SPIRITS. 
 
 Diftilled fpirits pay at the rate of F. x 10 a cann. Thus an aam F. 132 — 
 
 Stamp — - — II 
 
 133 I 
 
 Gin or malt wine pays per aam, including the ftamp — 124 5 
 
 3. M E A D. 
 
 This article pays at the rate of 10 d. a cann. Thus per aam, including the 
 ftamp — — — F. 45 I 
 
 4. BRANDY and DISTILLED WATERS. 
 
 Thefe articles pay 12 fti vers a cann. Thus /i^r aam, including the ftamp F. 53 17 
 Gin and other diftilled waters pay per aam, including the ftamp — 45 i 
 
 Thus it appears that fpirituous liquors are higher excifed in Utrecht than in Holland, 
 owing to the latter being a maritime and diftilling country. 
 
 5. T O B A C C a * 
 
 The excife upon every pound of fnuff and tobacco, without diftinction of forts and prices, 
 is 3 ftivers, which is above 3*^. fterling.
 
 APPENDIX, 
 
 XXXIX 
 
 6. BEER. 
 
 Beer brewed in the province, and confumed at the place where it is made, pays the 
 following rates per ton : 
 
 Tavern-keepers — • — F. 6 2 8 
 
 A lehoufe- keepers — 3 7 
 
 Private individuals — — _ 27-— 
 
 Foreign beer is charged higher. 
 
 GRAIN ufed in BREWING. 
 
 Brewers pay for the corn they ufe, per laft of wheat 
 
 Of malt or oats — — _ 
 
 F. 25 
 
 8 9 14 
 
 In Utrecht they make no-ufe of rye in brewing. When corn is high they diminifli the 
 excife one-third. 
 
 VINEGAR. 
 
 Vinegar made of wine pays per 5 ankers 
 If made of beer a ton of 90 canns pays 
 
 F. 8 18 12 
 23 — 
 
 EXCISE on GROUND CORN. 
 
 Wheat pays ^^r laft of 25 muds — — 1 23 15 — 
 
 bcfides the ffamp. 
 
 Rye per laft, bcfides the ftamp — — 
 
 Gingerbread bakers (befides a ftamp) per\d.Q. — — 
 
 Bai'ley, besr.s, and peafe, per laft — — 
 
 But the duty is lower if barley or beans are ground to fatten cattle. 
 Oats pay per laft — — — 
 
 Buck whei'.t per laft — — — 
 
 Flour of wheat, lOolb. pays — — 
 
 Thus the laft of 4,5Co!b. — — 
 
 Flour of rye, loolb. — — 
 
 Thus /iijr laft — — — 
 
 Ging;rrbrea^, 100 lb. — — — 
 
 Every ton or barrel with bifcuiis — — 
 
 All perfons in the proviice of Utrecht are obliged to provide themfelves with at kaft 
 4 mud* of iiour. The imporlation of bread from the country to the towns is prohibiied. 
 In the country this tax is in general converted into a fpecies of poll-tax, every individu.il 
 paying from 2 florins to F. 2 lO per head, according to circumftances. 
 
 62 
 
 10 — 
 
 85 
 
 — — 
 
 27 
 
 10 — 
 
 15 
 
 -»* 1 1 
 
 6 
 
 5 — 
 
 2 
 
 10 — 
 
 112 
 
 10 — 
 
 I 
 
 10 — 
 
 67 
 6 
 
 10 — 
 
 2 
 
 — — 
 
 SOAP. 
 
 Every ton of 2401b. of green or foft foap, pays 
 VVoolcoi-.ibers pay only — 
 
 Spanifj foap per pound, pays — 
 
 But roanufacturers arc only charged 
 
 8 16 
 
 5 4 
 I — 
 
 — $
 
 xl APPENDIX. 
 
 II. SALT. 
 
 For every fack of refined fait there is paid at Utrecht — F. i 5 
 
 At Amersfort — — — ^3 
 
 iz. B U T TE R. 
 
 By edift 1750, for every caflc of butter weighing 3201b. but containing only 28olb. of 
 butter, there is paid — — F. 9 8 
 
 13. BUTCHERS MEAT. 
 
 Butchers and others who kill cattle for the market, pay at Amersfort the following 
 
 rates : 
 
 For an ox — — F. 14 16 — 
 
 For cows and young cattle of 2 years old — — 9 19 8 
 
 For a calf — — •— 2144 
 
 For a flieep or lamb — — i i lO 
 
 At Utrecht the fame excife is paid for oxen ; but for cows, fcff. there is levied 10 7 — 
 Private families pay ,V of all the oxen, i^c. killed for their own confumption, together 
 
 with the following rates : 
 
 For an ox — — ' — F. 7 i — 
 
 For a cow, and all cattle of 2 years old — — 4 1 1 8 
 
 For a hog or pig — — i 14 8 
 
 For a calf — — — — 19 8 
 
 For a fheep or lamb — ■ — — 12 8 
 
 Porkmen pay for every hog or pig — — 3 
 
 For every pound of fmoked or fait meat, pork hams, isfc. brought from the province 
 
 into the country of Utrecht, there is paid an excife of — F. — 8 
 
 And if imported from abroad — — i — 
 
 14. TURF and COALS. 
 
 Within the city of Utrecht foreign hard turf pays per 4 bags F. 18 
 
 Utrecht turf — — — 
 
 Turf for brewers, {jff. per ditto — — 
 
 For earthenware-makers — — 
 
 Small coals for the ufe of manufafturers, pay per hood — 
 
 Other people pay — — — 
 
 "f^ Large coals pay per i4,ooolb. weight, if ufed by manufacturers 
 
 6?' If by private individuals — — — 
 
 But perfons who in their manufailories cannot ufe any thing elfe than coals, may be exempted 
 from this excife hy requejiing it. 
 
 18 
 
 — « ■.» 
 
 16 
 
 .» 
 
 9 
 
 8 — 
 
 3 
 
 8 — 
 
 5 
 
 6 — 
 
 6 
 
 4 — 
 
 38 
 
 17 "3 
 
 44 
 
 18 5 
 
 >5- 
 
 EXCISE on COFFEE and TEA. 
 
 In Utrecht, Amersfort, and their liberties, all families are divided into fix cla/Ies, ac- 
 cording to their apparent confumption ; each family is rated for a certain uuinber of 
 perfons, beyond which the contribution does not increafe. Children under 4 years are 
 not reckoned. From 4 to 10 they are charged at the rate of one-half, two making one 
 head. Servants are included in the calculation of the family. 
 
 The
 
 APPENDIX. xVi 
 
 The firfl: clafs, confifling of 9 in family, pay yearly /^r head — ^-3 — 
 
 The i'econd clafs of 8 perfons pay ^i:r head — — 2 '5 
 
 The third clafs of 7 perfons — — - 2 10 ' 
 
 The fourth clafs of 6 perfons — — — 25 
 
 The fifth clafs of 5 perfons — — 2 — 
 
 The fixth clafs of 4 perfons — — — 115 
 
 Nobody is exempted from being included in thefe clafles ; but fach as are extremely 
 
 poor, or thofe who can make oath before the juftices of their pariOi, that they never make ufe 
 
 of, or drink any coffee or tea thenifelves, and, in fo far as they know, that it is not ufed or 
 
 drunk by any one in their family. 
 
 Coffeehoufe-keepers, tavern and inn-keepers, are taxed according to the apparent con- 
 
 fumption in their refpe(Sbive hoafes. 
 
 - Wholefale dealers in coffee and tea pay yearly for a licenfe — J\ 16 
 
 Retailers — — — g 
 
 j6. The WEIGHING EXCISE. 
 
 The excife for every loolb. weight, including the infpeflor, is _ F. — 3 — 
 
 17. FRUITS. 
 
 The particulars of the excife on fruits in this province are not fpecified. From this duty 
 the fruit belonging to citizens, if confumed by themfelves and not fold, is exempted. 
 
 18. EXCISE on CATTLE. 
 
 For the fix fummer months there is paid for oxen, bullocks, and fat cows, native or 
 foreign, per month — — — F. — 78 
 
 For a cow giving milk — — — — 9 — " 
 
 For young cattle 2 years old — — __ 4 3 
 
 For a bullock 2 years old — — ^0x2 
 
 Oxen reared in the province are free till their third year. 
 
 During the v/inter feafon nothing is paid. 
 
 In fome poor diftrids there is only paid one-half of this excife, and Maarn and Maarf- 
 bergen, on account of their peculiar poverty, are entirely exempted. 
 
 19. FERRY and PASSAGE DUTY. 
 
 For every fliip or boat there is paid an excife of one-fourth of their freight j and by every 
 paffenger in a common ftage waggon not going out of the province F. 3 
 
 This tax varies according to the circumftances of the cafe. 
 
 20. EXCISE on OFFICES. 
 
 There is levied a duty on all the eminent charges of the ftate for the public benefit, the 
 amount of which is not fpecified ; likewife the looth penny, or i per cent, on all benefices 
 or offices, civil, military, or ecclefiaftical. 
 
 Part III. [F]
 
 xlii APPENDIX. 
 
 21. S T A M P S. 
 
 In the province of Utrecht there is levied by way of ftamp duty on all accounts or bills 
 
 of tradefmen, fhop-kecpers, butchers, bakers, doctors, furgeons, tiff, according to the fol- 
 lowing rates : 
 
 From F. 25 to F. 60 — — — F. — 6 
 
 60 100 — — — 10 
 
 100 400 — — — I — 
 
 400 800 — — 2 — 
 
 < 800 1,200 — — — 3 — 
 
 22. SERVANTS. 
 
 For all domeftic fervants there is paid per head — F. 6 
 
 The fervants employed by farmers, gardeners, bakers, butchers, inn-keepers, manufac- 
 turers, isfc. are charged only 3 florins. 
 
 23. HORSE TAX. 
 
 There is charged for every horfe ufed in carriages, or in riding, per annutn F. 16 — 
 
 For working horfes abfolutely neceflary for manufaflurers — 28 
 
 For horfes kept by dealers in horfes, or by butchers, brewers, &c. — 13 — 
 
 For fmall horfes not higher than 11 hands, and young horfes if ufed 4 — 
 
 Hackney-coach-m?fters and livery-ftable keepers pay for every horfe 2 8 
 The working horfes of farmers in the country are exempted. 
 
 24. TAX on SOWN LANDS. 
 
 In the province of Utrecht there is a general excife on all arable ground, whether fown 
 or unfown, of 15 {{[vers per morgan, to which there are added the following rates: 
 For every morgen of ground ufed as an orchard, being 6 years old or more F. — 10 
 For every morgen of tobacco, flax, or hemp — — i 10 
 
 25. HARDWARE and LEAD. 
 
 The excife on hardware is not fpecified ; but for every 100 lb. weight of lead there is 
 paid — — — F. — 5 
 
 26. VARIOUS TAXES. 
 
 In the provinceof Utrecht there is levied an excife of the 9th penny of the value of falmon 
 and (lurgeon, and other fifh : Alfo the looth penny of fat cattle exported, together with 
 taxes on (kins, pedlars wares, and a road duty, or tax on turnpikes. 
 
 27. TIT H E S. 
 
 Various taxes are paid in this province by thofe perfons who receive any income from 
 tithes.
 
 APPENDIX. xliii 
 
 28. EXCISE on the ALIENATION of GOODS. 
 
 On the fale of real chattels there is paid a tax of 4 per cent. On perfonal efFefls the 50th 
 penny, or 2 per cent. Gold, filver, and jewels, are excepted. 
 
 29, EXCISE on COLLATERAL SUCCESSIONS. 
 
 In this province the tax is only at the rate of the 20th penny on fucceflions in llnea coU 
 laterali et adjcendenti, 
 
 30. HOUSE and CHIMNEY DUTY. 
 
 The furvey of houfes in the province of Utrecht is of a very old date. They have fince 
 been obliged to double the tax then imnofed, and to add a duty upon chimnies ; every chim- 
 ney being charged 3 florins, but chimnies in bed-chambers only one- half. 
 
 The following examples will give fome idea of the nature and amount of this tax. 
 
 A houfe with 16 chimnies — . — F. 48 — — 
 
 Single houfe duty — — ■ '— 30 
 
 Double — — — 30 — — 
 
 108 
 
 A fmall houfe of one bed-chamber. 
 
 Two chimnies — ^— — 3 "^ *"" 
 
 Single houfe duty — — 2 — — 
 
 Double — — — 2 — •— 
 
 
 A fmall houfe or cottage of a poor day labourer, pays in general. 
 
 For I chimney — — — I 10 — 
 
 Single houfe duty — — I — — 
 
 Double — — -— I 
 
 3 10 — 
 
 The generalitv of houfes in villages pay in the following manner r 
 
 For 2 chimnies ~- — F. 6 — — 
 
 Single houfe duty — — — 4 
 
 Double — — — 4 
 
 Farm houfes pay various rates, in proportion to their fize and dimenfions. For inftancc. 
 Single houfe duty — — F. 30 15 — 
 Double . — — — 30 15 — 
 Chimney duty — — " — 15 
 
 76 15 — 
 There is to be added to thefe fums a fmall ftamp duty on each of — — 8 
 
 31. LAND TAX. 
 
 There is paid in Utrecht for every morgen a certain duty called oudfchild, which varies 
 in different iurifdi£tions, .nnd fometimes even in the fame diftrid. What method was ori- 
 ginally adopted for regulating this tax is unknown. There is alfo paid for every morgen 
 20 ftivers of real, and 15 of perfonal duty, making together F. i 15 —
 
 xliv APPENDIX. 
 
 CONCLUSION. 
 
 The attentive reader will eafily perceive, from the flighteft perufal of the preceding paper, 
 that the Britifli financiers and ftatefmen have already drawn many hints from the mode of 
 levying taxes in Holland. For it is from that country that we have borrowed the great de- 
 partment of the ftamps, the taxes on carriages, horfes, and fervants, the duties on goods fold by 
 auction or acquired by collateral fucceffion, together with fome of the regulations in the late 
 tobacco ad, and other means of fecuring the revenue. But the fubjeft is far from being 
 exhaufted, as many financial ideas are thrown out in the preceding paper, which might be 
 adopted in this country, more efpecially the modes pradifed in either of the provinces of 
 Holland or Utrecht for levying the excife on tea and coffee, which feem to be greatly fu« 
 perior to our commutation tax, and might eafily be fuited to the prefent flate and circum- 
 ftances of this country. The tax on livery-ftable- keepers (fee N° 23) is undoubtedly 
 preferable to our mode of levying a tax on port horfes, by farming that branch of the re- 
 venue. The receipt tax alfo might receive very material improvements, by regulations 
 fimilar in principle to tbofe which are eftablifhed in Utrecht ; and if the duty on chimneys, 
 which exifts in that province, were adopted, it might be the happy means of furnifhing us 
 with a commutation for the pernicious taxes to which we are at prefent fubjeit, on coal 
 and fait. 
 
 In regard to the other taxes in Holland, it is to be hoped that we (hall nev.er b? reduced 
 to the fatal neceflity of laying (in addition to a general land tax) a particular impoft upon 
 lands fown with grain and other feeds, or frefli taxes upon fields in pafture, by duties upon 
 cattle, milk cows themfelves not excepted ; far lefs that excifes (hall ever be attempted in thefc 
 kingdoms upon butter, fruit, garden fluff, fifh, poultry, butchers meat i nay, on bread 
 itfelf. Thefe are taxes at leaf!-, which I have found no occafion to enumerate amonglt the 
 refources of the nation. 
 
 END OF PART III. 
 
 ERRATA. 
 
 It is hoped that the candid Reader will excufe any accidental error in the accounts, wWch could 
 hardly be avoided in a work fo full of figoies as the prefent. The following miftake is alfo to bo 
 correded : in page 121, line 15, for, ;>; other any occupation, read, in any other occupatiop. 
 
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