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Show 376 Compri/bn 9)" Great Britain and [A: D.T.] America as to Credit, in I777. 377 compareBritain andAmerica, in thefe fevcral particulars, upon thequeilion, " To which is it lafeft " to lend money F" We {hall find, Camparyon 9/" Great Britain and America as to I. Refpeéting former loam; that America; which borrowed ten millions during the laft war Credit, in 177.7 *. for the maintenance of her army of 25,000 men, N borrowing money, a man's credit depends on I fome or all of the following particulars. Firf'c, His known conduct. refpeé'hng former loans, and his punctuality in difchargmg them. . . ggdrrcihly, The argnouht and the certainty'of his the income, and the freedombof his ef'tate from ' paid that debt, and all her other debts, in 1772. -Whereas Britain, during thofe ten years ofpeace and profitable commerce, had made little or no reduction of her debt ; but on the contrary, from Secondly, Hisfindiii'rry. ",Hisruait. and other charges; had faithfully difcbarged and ances of rior de ts. lncli‘liliihly, His will founded profpeéts of: greater eftate future ability, by the improvement of his h's . in value, and by aids from others. Sixthly, His known prudence 1n managing 1 prorreneral alTairs, and the advantage they wrll h , lJJably receive from the loan which he defires. Seventhly, His known probity and lioneftc a} raéter, manifefied by his voluntary difchargeltl) I); his debts, which he could not have been 16%: compelled to pay.-The crrcumftances w 1c." (rive credit to an individual ought to, and wx have, their weight upon the lenders of money t3 public bodier or nations-If then we confider an ulated, " [This paper was written, tranflated, print ed , and circ while Dr. Franklin was at the court of l'ans, for the purpofe 0 inducing foreigners to lend money to America in pre ference to Great compare Britain. E.] time to time, diminifhed the hopes of her creditors, by a wanton diverflon and mifapplication of the finking fund deftined for difcharging it. 2. Refpeéting indzflry ; Every man [in Ame‘ rim] is employed; the greater part in cultivating their own lands; the red in handicrafts, navigation, and commerce. An idle man is a rarity; idle- nefs and inutility are difgraceful.-In Erzg/zzizd, the number of that character is immenfe ; fafhion has fpread it far and wide ; Hence the embarrafll ments of private fortunes, and the daily bank- ruptcies arifing from an univerfal fondnefs for appearance and expenfive pleafures; And hence, in fome degree, the mifmanagements of public bufinefs; for habits of bufinefs and ability in it, are acquired only by practice ; and where univerfal diflipation, and the perpetual purfuit of amufement are the mode; the youth, educated in it, can rarely afterwards acquire that patient attention and clofe application to affairs, which are {0 neceffary to a (tatefman charged with the care of national Ccc welfare. |