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Show (48) employed in paying their debts, without adding to them ; and their cxportations and remittances For, that purpofe have contri-t buted to render the general balanc: of trade more favourable to? us, and, alfo, (in conjunflion with the late operations of the Bank) to keep up our funds. . Theft: remittances are now ceafed ;F and a year or two will determine, if this contefi goes on, how far we can fullain Inch 3 lofs without fuferinw the confequences I have defcribed a The fecond event, ‘ruinOus to our paper-circulation, which may arife from our rupture with Arrirrim, is a deficiency in the revenue. As a failure of our paper would dellroy the revenue. {0 a failure of the revenue, or any confiderable diminution ofit, w0uld dcllroy our paper. The B A N K is the {uppOrt of our paper; and the fupport of the BANK is the credit of govern. ment. Its principal fecririties are ‘a capital of near eleven mile lions lent to government; and money continually advanced to a vail amount on the Land-tax} Sinkingfimd, Exchequer-bills, Navy-Bills, sec. bhould, therefore, deficience: in the revenue bring government under any difficulties. all thefe fecurities would lofe their value, and the Barr} and Government, and all private and public credit, would fall together. Let any one here imagine, what would probab‘y follow. were it but fur-peéled by the public'in general, that the taxes were fo fallen, as not to produce enough to pay the interclt of the public debts, befides bearing; the ordi'zary expences of the nation; and that, in order to fupply the deficiency‘and to hide the calamity, it had been necell "yin any'onc year, to anticipate the taxes, and to borrow of the Bank-4n fuch circum'ltances I can {carcely doubt, but an alarm would {pread of the molt dangerous tendenc y.- The next foreign war, lli‘ould it prove [ml/"a": expenfive as the alone it will caulb a. dcduftion from the Ctr/20m: of at leaf: 300,000]. per mzzzzmz, 1" including the duties paid on foreign commodities pnrchafed by the exportation of tobacco. Let the whole deduction from the revenue be {uppofcd to be only halfa million. This alone is more than the kingdom can at prefent bear, without having recourfe to additional taxes, in order to defray the common and neceflary expences of peace. But to this mull be added a dedutlion from the produce of the Ear/fie, in corticqtlence of the increale of the poor, of the dill ficultics of our merchants and nianufaé‘turers, of Iefs national wealth, and a retrenchment ofluxury. There is no pollibility of knowing to what theft: dcdué'tions may amount. When the evils producing them begin, they will proceed rapidly ; and they may end in a general wreck before we are aware of any danger. ln order to give a clearer View of this fubjeé't, I will in an Appendix, llatc particularly the national expenditure and income for ten years, from 176;, to 1774. From that account it will appear, that the money drawn every year from the public by the taxes, falls but little {hort of a fum equal to the whole flair of the kingdom; and that, notwithltanding the late increale in the produé‘tivenels of the taxes, the whole fur- plu; of the national income has not exceeded 320,000}. per t‘l.'.4s'/.7. This is a liu'plus {o inconfiderablc as to be {carcely ludicient to guard againlt the deficiencies arifing from the tommon llu-fluations of foreign trade, and of home confump- lion. lt-is NOTHING when confidered as the only fund we have for paying off a debt of near :40 millions.----Had we continued in a [late of profound peace, it could not have ad" :nittcd of any diminution. \Vhat then mull follow, when left, wrll probably occah'on inch a deficiency. and bring our ail fairs to that crifis towards which they have been long tending-~- one of the melt profitable branches of our trade is deliroycd , But the war with dwerim has a greater tendency to do this; and. the reafbn when n 'r H. r r. D of the Empire is loll; when an addition of many millions is made to the public debt; and when, at the is, that it alicé‘ts our refources more; and is attended more With the danger of internal diltu‘rbances. Some have made the proportion of our trade depending on IYorlé-zlrxz‘rifa to be nearly one HALF. A moderate computa~ [10:1 maltes it a rural). f Let it, however, be fuppofed to be (ante time, perhaps, fome millions are taken away from the onlya hourtri-i. onr foreign trade, I will venture to fay, this is a proportion of the lofs of which, Will be found mfupportable.-‘11- See trhe/l‘uhdance of when it comes to be felt, In the article of ‘foéaru alone the Evidence on the Petition prefented by t. e [rep-.3..th Planters and Merchmrts to the Houle ot Commons, 3.! it was introdused to the limit, and («mur al no by Mr. Geovxa. revenue ?--»-[ lhudder at the prol‘peét.----A KINGDOM, ON Ar: that so PERILOUS, SHOULD THINK OF NOTHING nor A RETREAT. G S E C T. i The annualaverage of the payments into the Exchequer, on account of the duties on tobacco, was for five years, from 1770 to 1 774, 219, 1171. exclufive ofthe payments from. Sro!!aml.-~-Near one half of the tobacco trade is carried on from Stat/and; and abovefmrfij'tb: of the tobacco imported is afterwards exportttl to Frame, German} and orher countries. From Frame alone it brings annually into the Kingdom, I am informed, about ago,cool. in money. . ln r775, being, alas! the farting year, the duties on tobacco in l? N rt 1. 3x N o brought into the EA‘r/rr‘qzm' no lefsn {um than 398,202. . |