| OCR Text |
Show ,( 6'6 D (3.7) o fnccefsful, on any , occafion wherein we were at the. time concerned, and ' for which they were borrowed ntThey were as fafe under the defeats and difappoi and ries ments of the War before, as upon the victo conquefis of the lal't. But things could not in this cafe but be much changed. ‘ The fecurity of millions lent, mud depend upon the future chance and fortune of War. It might be madeadoubt, what fruits would 'for fome years to come be received, from provinces mangled and mutilated in a fevere conteft, decided to their difadvantage, {hould thefe at laft return to us again; but no one could overlook, What mull be the cafe lhould the event terminate againl't us, and end, that quellion in its extent. Experience teaches men ; but there is no preceding hillory or tradition, of any flate or nation whatfoever, which can throw fullicient light on that propofition. "here never was before in the world, fuch a debt contraéted. or fnhfiiling, as the Britifh. Letters and books are older than money, Imean than gold and lilver C(Jl‘tl'tlltfilly current, and having their weight known by a ltamp. Butthere is no occafton to ranfack ancient times on this futtieét. The difcovery of Mexico and Peru, and the poll'eilion of them by the Spaniaztls is the zera from whence we are to date the beginning of the prefent plenty in littrope, of‘thefe two precious inetals.-tvhieh command after an expence of much treafure and blood, in f0 often individuals, and ftnnet‘ines COtitinon‘Venlths and fatal and inel'timablc a lofs on our fide, as that of theft: kingdoms. colOni'es t'ould be. However, no Man knows, whe- ther‘this‘alfair might run into a very long trial. A general breach and defection of thefe colonies, would cut th'e‘"fineWs"of‘ our power. We could not, molt probably," in fuch a fituation, long continue to provide "and pay- the "i'nt‘er'eft‘ of our molt enormous debt already incurred and fublifling." It need not be repeat- ed, that it is‘ theafliltance‘ received from their commerce and produce,"wliicl'1 enables us now to do it. Deprived of that, it will be ‘but to little purpofe for us to be inventing new Funds at home. We have. enow of them already. ‘ More would only run foul of The art of Funding was formerly very confined. It is a fuccefliou of Engliflt ailininitlrations, which has carried it to an extent never be ore known among men. It is a new experiment in .t llate. is no example of it in the annals of mankind. [here 'We are at a lofs where to look for the confeqtiences of fuch an unprecedented and unheard of deficiency, or bank- ruptcy, as this would prove. However, we cannot but have before our eyes, diforder, anitrel‘iy, anti conftn'ion; the monied interell of the nation banded againl‘t thelanded, and the landed agaittlt the inonied; rich monied men brought to beggary, and the land drained of the utmolt farthing which can be forced one another. ' We may, in that day,‘with0ut the ope- from it ; every one catching, rendina and providing for rations of a war in America, without'the fending the prefent moment ; our manufaélures and commerce at a ltand; the mi {Idling people emigrating out of our or fupplying fleets or armies, at a' 'dillance, without creating new debts, new Funds and newitaxes, have. at our own homes, from our aétual fituation, bufmefs on our hands, but too fufiicient to engage and employ - : us. But it may be asked, what will be the confequence fhould we from thefe caufes, become unable to pay the interelt of our prefent debt. I will be bold t0 fay, that there is no man living wife enough to anfwcr '* " ‘ a that country, and the poor in famine, or in fedition: f0- reigners prefiing for their demands, and the Dutch particularly in rage, and almol't in madnefs for their councountlefs millions, trulled and h;t2::-trded in our try; perhaps at the fame time our navy unmanned. and our army in mutin' for want of pay. \Vho can .and Withal tell the end ; for the debt, the burthcn, the demand will ever remain? There was a "we, when |
