Postscript.

ACCOUNT of Public debts discharged, Money borrowed, and Annual Interest saved, from 1763 to 1775.

In 1764, there was paid off 650,000 l. navy-debt; but this I have not charged, because scarcely equal to that annual increase of the navy-debt for 1764, 1765, and 1766, which forms a part of the ordinary peace establishment. The same is true of 300,000 l. navy-debt, paid in 1767; of 400,000 l. paid in 1769; of 100,200 l. paid in 1770; 200,000 l. in 1771; 215,883 l. in 1772; and 200,000 l. in 1774.

From 15.483,553 l. the total of debts discharged, subtract 6.650,000 l. the total of debts contracted; and the remainder, or 8.833,553 l. will be the diminution of the public debts since 1763. Also, from 568,842 l. the total of the decrease of the annual interest, subtract 199,500 l. (the total of its increase), and the remainder, or 369,342 l. will be the interest or annuity saved since 1763—To this must be added 12,537 l. per ann. saved by changing a capital of 1.253,700 l. (part of 20.240,000 l.) from an interest of 4 to 3 per cent. pursuant to an act of the 10th of George III.; also the lifeannuities that have fallen in; which will make a saving in the whole of near 400,000 l. per annum: And it is to this saving, together with the increase of luxury, that the increase of the Sinking Fund for the last ten years has been owing.

To the debts discharged the following additions must be made.

In 1764 there was paid towards discharging the extraordinary expences of the army, 987,434 l.: In 1765, these expences amounted to 404,496 l.: In 1766, to 404,310 l.—Total 1.796,240 l.—This sum is at least a million higher than the extraordinary expences of the army for three years in a time of peace. This excess being derived from the preceding war, must be reckoned a debt left by the war. And the same is true of 1.106,000 l. applied, in 1764, 1765, and 1766, towards satisfying German demands.—There are likewise some smaller sums of the same kind; such as subsidies to Hesse-Cassel, Brunswick, &c. And they may be taken at 200,000 l.—The total of all these Sums is 2.306,240 l.; which, added to 8.833,553 l. makes the whole diminution of the public debt since 1763, to be 11.139,793 l.—Towards discharging this debt, the nation, besides the surplus of its ordinary revenue, has received, at different times between the years 1763 and 1768, from savings on high grants during the war, from the produce of French prizes, from the Bank for the renewal of their charter, from the sale of lands in the ceded islands, and composition for maintaining French prisoners, 2.630,000 l. Also, from the profits of ten lotteries (at 150,000 l. each lottery) 1.500,000 l.; from the East-India Company (400,000 l. per ann. for five years) 2.000,000 l.; from 1s. extraordinary land-tax for 4 years, 1.750,000 l.; from debts discharged at a discount, 400,000 l.;: In all 8.280,000 l.—There remains to make up 11.139,793 l. (the whole debt discharged) 2.859,793 l.; and this, therefore, is the amount of the whole surplus of the ordinary revenue for 12 years; or 238,000 l. per annum.

Soon after the peace in 1763, an unfunded debt, amounting to 6.983,553 l. was funded on the Sinking Fund, and on new duties on wine and cyder at 4 per cent. There has been since borrowed and funded on coals exported, window-lights, &c. 6.400,000 l. The funded debt, therefore, has increased since the war 13.383,553 l. It has decreased (as appears from page 47) 11.983,553 l.; and, consequently, these has been on the whole an addition to it of 1.400,000 l.—During seven years, from 1767 to 1774, 1.415,883 l. navy-debt was paid off. See above. But, as this is a debt arising from constant deficiencies in the peace estimates for the navy, it is a part of the current peace expences.—In 1768 this debt was 1.226,915 l.—In 1774 it was 1.850,000 l.; and consequently, though 1.415,883 l. was paid off an addition was made to it, seven years, of 623,085 l. It encreased, therefore, according to this account, at the rate of 291,000 l. per ann.

Upon the whole, there is reason to believe, that the annual increase of the navy-debt might have been more truly stated in page 44. at 300,000 l. per ann. and this would have reduced the annual surplus of the revenue to 270.759 l. per annum.

In Great Britain, consisting of near six millions of inhabitants, 5723 persons, most of them the lowest of the people, elect one half of the House of Commens; and 364 votes chuse a ninth part. This may be seen distinctly made out in the Political Disquisitions, Vol. I. Book 2. C. 4. a work full of important and useful instruction.

See among others Mr. Locke on Government, and Dr. Priestley’s Essay on the first Principles of Government.

See Dr. Priestley on Government, page 68, 69, &c.

The independency of the Judges we esteem in this country one of our greatest privileges.—Before the revolution they generally, I believe, held their places during pleasure. King William gave them their places during good behaviour. At the accession of the present Royal Family their places were given them during good behaviour, in consequence of the Act of Settlement, 12 and 13 W. III. C. 2. But an opinion having been entertained by some, that though their commissions were made under the Act of Settlement to continue, during good behaviour, yet that they determined on the demise of the Crown; it was enacted by a statute made in the first year of his present Majesty, Chap. 23. “That the commissions of Judges for the time being shall be, continue, and remain in full force, during their good behaviour, notwithstanding the demise of his Majesty, or of any of his Heirs and Successors;” with a proviso, “that it may be lawful for his Majesty, his Heirs and Successors, to remove any Judge upon the address of both Houses of Parliament.” And by the same Statute their salaries are secured to them during the continuance of their commissions: His Majesty, according to the preamble of the Statute, having been pleased to declare from the Throne to both Houses of Parliament, “That he looked upon the independency and uprightness of Judges as essential to the impartial administration of Justice, at one of the best securities to the Rights and Liberties of his loving subjects, and as most conducive to the honour of his Crown.”

A worthy friend and able Lawyer has supplied me with this note. It affords, when contrasted with that dependence of the Judges which has been thought reasonable in America, a sad specimen of the different manner in which a kingdom may think proper to govern itself, and the provinces subject to it.

Montesquieu’s Spirit of Laws, Vol. I. Book 11. C. xix.

This is particularly true of the bounties granted on some American commodities (as pitch, tar, indigo, &c.) when imported into Britain; for it is well known, that the end of granting them was, to get those commodities cheaper from the Colonies, and in return for our manufactures, which we used to get from Russia and other foreign countries. And this is expressed in the preambles of the laws which grant these bounties. See the Appeal to the Justice, &c. page 21, third edition. It is, therefore, strange that Doctor Tucker and others, should have insisted so much upon these bounties as favours and indulgences to the Colonies.—But it is still more strange, that the time representation should have been made of the compensations granted them for doing more during the last war in assisting us than could have been reasonably expected; and also of the sums we have spent in maintaining troops among them without their consent; and in opposition to their wishes.—See a pamphlet, intitled “The rights of Great Britain asserted against the claims of America.”

It gives me pleasure to find, that the author of the Remarks on the Principal Acts of the 13th Parliament of Great Britain, &c. acknowledges this difference.—It has, however, been at the same time mortifying to me to find so able a writer adopting such principles of government, as are contained in this work. According to him, a people have no property or rights, except such as their Civil Governers are pleased not to take from them. Taxes, therefore, he asserts, are in no tense the gift, much less the free gifts of the people. See p. 58. and 191.

See Observations on Reversionary Payments, page 207, &c.

See page 12.

The author of Taxation no Tyranny will undoubtedly assert this without hesitation; for in page 69 he compares our present sitution with respect to the Colonies to that of the antient Scythians, who, upon returning from a war found themselves shut out of their own Houses by their Slaves.

See particularly, a Speech intended to have been spoken on the bill for altering the Charter of the Colony of Massachuset’s Bay; the Considerations on the Measures carrying on with respect to the British Colonies; the Two Appeals to the Justice and Interests of the People; and the further Examination (just published) of our present American Measures, by the Author of the Considerations, &c.

I have heard it said by a person in one of the first departments of the state, that the present contest is for Dominion on the side of the Colonies, as well as on ours: And so it is, indeed; but with this essential difference. We are struggling for dominion over others. They are struggling for Self-dominion: The noblest of all blessings.

This has been our policy with respect to the people of Ireland; and the consequence is, that we now [Editor: illegible word] their parliament as obedient as we can wish.

Excepting the Negroes in the Southern Colonies, who probably will now either soon become extinct, or have their condition changed into that of Freemen.—It is not the fault of the Colonies that they have among them so many of these unhappy people. They have made laws to prohibit the importation of them; but these laws have always had a negative put upon them here, because of their tendency to hurt our Negro trade.

In the County of Suffolk, where Boston is, there has not been, I am informed, more than one execution these 18 years.

Mr. Burke (in his excellent and admirable Speech on moving his resolutions for conciliation with the Colonies, P. 9, &c.) has shewn, that our trade to the Colonies, including that to Africa and the West-Indies, was in 1773 nearly equal to the trade which we carried on with the whole world at the beginning of this Century.

See Dr. Davenant’s works, collected and revised by Sir Charles Whitworth, Vol. I. Page 363, &c. 443, &c.

See Considerations on Money, Bullion, &c. Page 2 and 11.

Or nearly the same that it was in Cromwell’s time. See Dr. Davenant’s works, Vol. I. Page 365.

See Sir James Steuart’s Enquiry into the Principles of political Occonomy, Vol. II. Book 4. Chap. 32.

Their debts consist chiefly of money raised by annuities on lives, short annuities, anticipations of taxes for short terms, &c. During the whole last war they added to their perpetual annuities only 12 millions sterling, according to Sir James Steuart’s account; whereas we added to these annuities near 60 millions. In consequence therefore of the nature of their debts, as well as of the management they are now using for hastening the reduction of them, they must in a few years, if peace continues, be freed from most of their incumbrances; while we probably (if no event comes soon that will unburthen us at once, shall continue with them all upon us.

Mr. Lowndes in the dispute between him and Mr. Locke, contended for a reduction of the standard of silver. One of his reasons was, that it would render the silver-coin more commensurate to the wants of the nation; and check hazardous Paper-credit.—Mr. Conduit, Sir Isaac Newton’s successor in the mint, has proposed, in direct contradiction to the laws now in being, that all the bullion imported into the kingdom should be carried into the mint to be coined; and only coin allowed to be exported. “The height, he says, of Paper-credit is the strongest argument for trying this and every other method that is likely to increase the coinage.. For whilst Paper-credit does in a great measure the business of money at home, Merchants and Bankers are not under a necessity, as they were formerly, of coining a quantity of specie for their home trade; and as Paper-credit brings money to the Merchants to be exported, the money may go away insensibly, and not be missed till it be too late: And where Paper-credit is large and increasing, if the money be exported and the coinage decrease, that credit may sink at once; for want of a proportionable quantity of Specie, which alone can support it in a time of distress.”—See Mr. Conduit’s Observations on the state of our Gold and Silver Coins in 1730, Page 36 to 46.

According to the accounts of the exports to, and imports from the North-American Colonies, laid before Parliament; the balance in our favour appears to have been, for 11 years before 1774, near a million and a half annually.

See the substance of the evidence on the petition presented by the West-India Planters and Merchants to the House of Commons, as it was introduced at the bar, and summed up by Mr. Glover.

The annual average of the payments into the Exchequer, on account of the duties on tobacco, was for five years, from 1770 to 1774, 219,117 l. exclusive of the payments from Scotland.—Near one half of the tobacco trade is carried on from Scotland; and above four fifths of the tobacco imported is afterwards exported to France, Germany and other countries. From France alone it brings annually into the Kingdom, I am informed, about 150,000 l. in money.

In 1775, being, alas! the parting year, the duties on tobacco in England brought into the Exchequer no less a sum than 298,202 l.

See the Append x.

A quarter of the inhabitants of every country are fighting men.—If, therefore, the Colonies consist only of two millions of inhabitants, the number of fighting men in them will be half a million.

See the Appendix to Dr. Zubly’s Sermon, preached at the opening of the Provincial Congress of Georgia.

New York has been long deserted by the greatest part of the inhabitants; and they are determined to burn it themselves, rather than suffer us to burn it.

“I have no other notion of slavery, but being bound by a law to which I do not consent.” See the case of Ireland’s being bound by acts of Parliament in England, stated by William Molyneux, Esq; Dublin.—In arguing against the authority of Communities, and all people not incorporated, over one another; I have confined my views to taxation and internal legislation. Mr. Molyneux carried his views much farther; and denied the right of England to make any laws even to regulate the trade of Ireland. He was the intimate friend of Mr. Locke; and writ his book in 1698, soon after the publication of Mr. Locke’s Treatise on Government.

What I have said, in Part 1st. Sect. 3d. of subjecting a number of states to a general council representing them all, I suppose every one must consider as entirely theoretical; and not a proposal of any thing I wish, may take place under the British Empire.

Some persons, convinced of the folly as well as barbarity of attempting to keep the Colonies by slaughtering them, have very humanely proposed giving them up. But the highest authority has informed us, with great reason, “That they are too important to be given up.”—Dr. Tucker has insisted on the depopulation, produced by migrations from this country to the Colonies, as a reason for this measure. But, unless the kingdom is made a prison to its inhabitants, these migrations cannot be prevented; nor do I think that they have any great tendency to produce depopulation. When a number of people quit a country, there is more employment and greater plenty of the means of subsistence lest for those who remain; and the vacancy is soon filled up. The grand causes of depopulation are, not migrations, or even famines and plagues, or any other temporary evils; but the permanent and slowly-working evils of debauchery, luxury, high taxes, and oppression.

See the Resolutions on the Nova-Scotia petition reported to the House of Commons, November 29, 1775, by Lord North, Lord George Germaine, &c. and a bill ordered to be brought in upon the said Resolutions.—There is indeed, as Lord Shelburne has hinted, something very astonishing in these Resolutions. They offer a relaxation of the authority of this country, in points to which the Colonies have always consented, and by which we are great gainers; at the same time, that, with a rigour which hazards the Empire, we are maintaining its authority in points to which they will never consent; and by which nothing can be gained.

See the Appendix.

The expences of the army not provided for in 1775 have amounted to 845,000 l. spent chiefly at Boston.—The Navy debt increased, during the course of the same year, from 1.850,000 l. to 2.498,579 l.

This was Lord North’s account at opening the budget in 1775. The particulars, as I have been able to collect them, I have stated in the Postscript.

My reason for this will be seen in the Postscript, page 48.

We drew, some years ago, this contribution from Asia only: and it cannot be unreasonable to expect, that the greatest part of it may be again drawn from thence after the expiration, in 1780, of the charter of the East-India company. At that period also, it is much to be wished that some effectual measures may be established for making amends to the inhabitants of Bengal for the shocking injuries they have suffered; and for skreening them from all farther injuries; and, likewise, for withdrawing from the crown that Patronage of the East India Company, which it has lately acquired, and which has given one of the deepest wounds to the constitution.

At the time of writing the introduction here referred to, above three years ago, I thought, or rather hoped, that the surplus of the revenue might be taken at 900,000 l. per ann. But it must be considered, that the nation was then in possession of a contribution of 400,000 l. per ann. from the India Company, which has been since lost—See the Additional Preface to the 2d Edition of the Appeal to the Public on the Subject of the National Debt.

See the particulars in a pamphlet intitled, The present State of the nation, published in 1768. Page 56.

Four of these lotteries have been annexed to annuities; but it is a great mistake to think that they have not been equally profitable with the other lotteries. For instance: In 1767 a million and a half was borrowed on annuities, at 3 per cent. with a lottery of 60,000 tickets annexed.. In the same year 2.616,777 l. was paid off; but had it not been for the lottery, only 1.350,000 l. could have been raised on the annuities, and 1[Editor: illegible number]0,000 l. left must have been paid off.

The discounts only on a million and a half paid off in 1772, and 2 millions paid off in 1774 and 1775, amounted nearly to this sum.

See The present State of the Nation, page 51.