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Manufactures, population, re- sources, LANDED INTEREST, and PUB- LIC FUNDS, '^- of ■ » GREAT BRITAIN; A N D A COMPARATIVE REVIEW O P T H B STRENGTH, RESOURCES. AND PUBLIC CREDIT, OF THE LATE BELLIGERENT POWERS, AT THE CONCLUSION OF THE PEACE. Prin St. Pa Char in jPookfelld old by ETT, Pi yal Exchan, CLXXXIII. w /_ ■fO^PT ■" U ■ . * » :^ H •..f -.< •!,. ^ ' V :'V' '\- V ^ vt. T A- a «1«p -1 'r ILW ■•<■ *»..'•' ^•% ,„.# #;; ■(:/■ ■1 I A \i- W a i 1 - S' airt'Y^t J ^ 3":.S H V i TA:"' ^i I^ . r f :/. .;:.,*: o <:' v: ■y f * ( J ) CONSEQUENCES, ^c. f TO form a judgment of the conrequence$ that muft rcfult from the late important Revolution of the Britilli Empire, it is necef- . , fary to ftate the terms of the Peace, which arc here briefly extracted from the treaties, and the lofles and gains brought into one point of view. The Britifh Minifter has by the late Peac^^ , made the following national cpnceffions. ''''"■K * To the AMERICANS. . The entire abfolute and fovereign indepen- dence of New Hamp(hire, Maflachufets Bay, Rhode Ifland and Providence Plantations, Con- - nedicut, New York, New Jerfey, Penfylvania, Delaware, Maryland, Virginia, North Caro- lina, South Carolina, and Georgia, with all ijlands within twenty leagues of any part of the Jhores of the /aid United States, A full and ample participation of the fiflleries on the Banks of Newfoundland, in the Gulf of St. Laurence, and at all other places in the feu where the inhabitants of both countries ufed B at ( 6 ) at any time heretofore to fifh ; as alfo on the coafts, hays, and creeks of all other his Bri- tannick Majefty's dominions in America, with liberty to dry and cure fifh in any of the un- Settled bays, harbours, and creeks of Nova Sco- tia, Magdalen IJlands, and Labr adore. An evacuation with all convenient fpeed, and without caujing any deftruBion or carrying away any negroes or other property, of every port, place, and harbour within the faid United States. A relinquifhment and leaving behind in all fortifications the American artillery that may be therein. , A rcftoration of all archives, records, deeds, and papers belonging to any of the faid States or their citizens, to be forthwith delivered to the proper ftate and perfon to whom they may belong. To FRANCE. A new and extenfive right of iifliery on the coafts of Newfoundland, commencing at Cape St. John, and extending by the north and the weft to Cape Raye. The ceflion in full right of the Iflands of St. Pierre and Miquelon. A right of ii(hing in the Gulf of St. Lau- rence. The rcftoration of the Ifland of St. Lucia. The ceffion and guarranty of the Ifland of Tobago, The ^mmm ( 7 ) The ceffion and guarranty of the river Se- negal and its dependencies, with the forts of St. Louis, Podor, Galam, Arguin, and Por- tendie. , The reftoratiori of the Ifland of Goree. A participation of the gum trade. A reftoration of all the eaublilhments which belonged to France at the commencement of the prefent war on the coaft of On*:^ and in Bengal, with liberty to furround Chanderna- gore with a ditch. An engagement to fecure to the fubjeds of France in that part of India, as alfo on the coafts of Orixa, Coromandel, and Malabar, a fafc, free, and independent trade. The reftoration and guarranty of Pondi- cherry and Karical. An engagement to procure to fervc as Ji de- pendency round Pondicherry the two dillnas of Valanour and Bahour. And as a dependency round Karical, the four contiguous Magans. The poffeffion of Mahe, and of the Comp- toir at Surat. A fafc, free, and independent trade to be fecured to France by Great Britain in this as in the above-mentioned parts of India. An engagement, that in cafe the Britifli al- lies in India do not accede to the foregoing terms in favour of France, in four months after the fame are propofed to them, his Bri- tannick Majefty ftiall not give them diredly or B 2 indiredly ( 8 ) inc^iredly any afliftance againft the French pof* feflions or the ancient po&flions of the French allies in India. The abrogation and fuppreflion of all the articles relative to (the dejlru^ion of the forti- fications of) Dunkirk from the treaty of Utrecht "j7 I ;^, inclusively to this time. The poffeffion of the reftored and conceded towns and comptoirs in the Eaft Indies, as alfo of the territories to be procured by Great Britain for France, to ferve as dependencies round Pondicherry and Karical, to take place in fix months after the ratification of the defini- tive treaty. To S P A I N. The Ifland of Minorca, Eaft Florida, and Weft Florida. Great Britain receives in compenfation for all the foregoing conceflions : "^ From the AMERICANS. An carneft recomt^endation from Congrefs to the legifiatures of the refpeBlve States, to pro- vide for the reftitution of all cftates, &c. that have been confifcated belonging to real Britilh fubjeas, and alfo ef the eftates, &c. of per- fons (loyalifis) refident in dijiridls in the pof- feffion of his Majejifs arms, and who have not borne arms againft the United States, and ■ that ^m ( 9 ) that perfons floyalijis) of any other defcrip' tion, (hall have free liberty to go to, and re- main in, any of the faid States for twelve months, unmolefted in their endeavours to ob- tain the reJHtution of fuch of their cftatcs, &;c. And that fuch reftorationsy^tf// be recommended as aforefaid, to be made to fuch perfons f'/oy- cUJli) upon their refunding the purchafe money paid fince the confifcatica by the prefent pof- feflbrs. 1 o Lt h f- /e id at From FRANCE. The reftoratlon of the iflands of Granada and the Granadines, St. Vincent's, Dominica, St. Chriftopher's, Nevis, and Montferrat. - A guarranty of the pofTeflion of Fort James, and of the River Gambia. An engagement that in cafe the French allies in India do not accede to the terms of the treaty in favour of France^ in four monthl after the fame are propofed to them, his Moft Chriftian Majefty (hall not give his faid allies, diredly or indire(flly, any affiftance again ft the Britirfi pofTeffions, or the ancient pofleffions of the Britifb allies in India. From SPAIN. A permijion to cut logwood in a diJlriB to be fixed upon within fix months after the ex- change of the ratifications^ provided fuch per^ mifjion 4 i I I , ( 10 ) mifton is not confidered as derogatory to the 'at 5hut7of the iflands of Providence jnd the Bahamas. In this extraa of the terms of peace, notice js not talcen of articles totally reaprocal fuch as the fuing for debts without legal impediment, the exchange of prifoners, &c The contraft between what Great Britain concedes and receives by thefe terms of pacifi- cation is dreadful indeed. Th^ national lofTes. in reJ^eSi of territory in different quarters of the globe, m refpeft ot the fur trade in Canada, the gum trade in Africa, the fiflieries of Newfoundland and of Briti(h America, the fortifications of Dunkirk, and other difadvantageous parts of the treaty, have been fo ably pointed out in both Houfes of Parliament, by noble Lords and other dil- tinguilhed members, that the author (hall touch as fittle as poffible upon thofc fuHjeas, already fonreferably difcuffed, and {hall ftudy to con- fine himfelf to the inveftigation of other fatal effefls not before adverted to, and many more are yet to be. dreaded, which time alone can brine to our knowledge. , . The author intends alfo to take a ftiort com- parative review of the fuuations of the late Belligerent powers at the conclufion of the peace, in point of ftrength. refources, and pub- »i^"^'*''- Amongft ( ix ) Amongft fome of the fatal effeds of this peace, not before adverted to, it has laid the foundation of the inevitable ruin of thofe Weft India iilands that yet remain dependent upon Great Britain j one large ftride to which has already taken place, by the great reduftion, in confcquencc of the peace, in the prices of their produce now at market ; for loaded as they arc with immenfe duties, freights, and infurance, they do not now clear upon fale the adtual charges they ftand at ; much Icfs produce any provifion for the bills of exchange, which it is well known the planters draw upon their cor- refpondents here, on the credit of their remit- tances of produce, fo that befides the rifque of bankruptcies to the acceptors of fuch bills, when the remittances fallfliort, the weight and force of this dreadful lofs muft ultimately fall back upon the planters, who muft confequently be involved in :he higheft difficulties. Nor will the reduction of charges in freight " and infurance upon the peace remittances re- lieve thefe planters, as the immenfe duties they are loaded with, unlefs wifely transferred to other more eligible objeds, muft ftill remain upon home confumption,* and as that monopoly which * The FORMER PEACE DUTIES. 5. d. On rums, Cuftom Excife On fiigars, Cuftom Total. ^loK. r — > per Gallon. . 48 J ^ ^^y 6 3~ perCwt. TJbc ;-:?■..■; ( >2 ) which mpporteJ the value of them under for- mer peace eftablulimtnts is now at an end.'. And the ol>je^fs of that monopoly whofe vaft confumptions ivere confined to the produce of the Britifi plantations, can now go unreftrain- cd to market at the French iflands, and there purchafe upon much more advantageous terms than the BritiOi iflands can afford : Nor, if they eve- could afford to fell upon equal terms w'ith the French iflands, will it be in their power to fupply fuch cufl:omers, becaufe the planters are fo deeply in debt at home that their plantations are in general mortgaged to the B' 'tifi. merchants, who are exaftly acquamted wir^i the produce of fuch plantations, which produce the planters are bound to remit to the mortgagees, as well towards the liquidation of the mortgages, as for the purpofes of freighting home the fliips of the mortgagees, who alfo in their capacity of fadors for the planters derive a commifiion from the falcs of fuch produce, which freights and commifTions have been the "" flrongeft The PRESENT DUTIES. s. d. Total. 9 •J 20 zo h'-B per Gallon. J 2 3 -i. pe.- Cwt. On rums, Cuftom Excife .,66 On fugars, Cuftom . . . And fugars ware fold by auaion within thefe few days at 185. 6d. per Cwt. for exportation, viz. exclulive of thpdutv, fo that the duties on thefe fugars would have been at the rate of above 60 per Cent, on their ; cai mm at market. ( 13 ) llrongeft inducements that the BritKh mef* chants had to lend tlieir money upon Weft In- dia plantations. And fhould the planters in future break through this reftraint, in defiance of their en- gagements with their creditors in Great Bri- tain, and difpofe of their produce upon the iflands to fuch itinerant merchants a"^ may come to market there j in that cafe the BritiQi (hips muft return home empty, which mufl: prove a fatal blow to our external commeru and navi- gation » On the other hand, divefted as we now are of the former monopolies^ the freights of the British fhips home muft glut the markets here, and of couife deftroy the fale of the produce $ fo that it will become the intereft of the plan- ters in our iflands, nay it will become abfolutely neceflary to their future exiftence, to throw thenifelves into the arms of America, or of the, houfe of Bourbon. To pr'ivent which will require a BrltiHi fleet to be conftantly kept up there, at leaft equal in force to the fleets of the houfe of Bour" hon and Americay by which means our peace eftabliftiment in that quarter, will become as expenjive as in the midft of war. If we were then under the dire neceflity of being the fecond or third power in Europe to acknowledge American independence ; we {hould certainly not have made conceffions of fo much magnitude to us and to them, with- C out •( 14 ) out fome comtnercial Jlipulatms in our favour as that was the right time to infift upon fuch, and if then compleated, it would have been now unnecelTary to bring a bill into the Britifti Parliament, as has been the cafe v^ithin thele few days " for the provifional eftablilhment «« of trade with the United States of North <' Jmmca;' which States, even by the ac- knowledgement of the Minifter himfelf who has made this peace, (when lately flaking in his place of the recommendation of the lo^alijtsj could not, he faid, be fuppofed to carry them^ fekes in their infancy, with that authority that old governments did. But to digrefs a little with regard to the loyahfts: If the infant States of America are defirous to evince thcmfelves a great people, and worthy of the confequence that fortune has favoured them with, they fliould of their own free will, uninfluenced by any recommenda- tion. at once grant a general amnefty to the lovalifls of all defcriptions, and liberally reftore to them all their poffeffions ; which conducT: would more firmly eftabliai the American States as a nation, than any ads they have yet at- chieved, or can undertake. In the Eaft Indies we not only concede and rellore a vafl territory to France, but we are bound to t)rocure them immenfe environs to their former poffeffions, within fix months from the definitive treaty of peace^; and are^ precluded from aiiiitins; our allies there^ in ca^e t^icy v.o ^ not ( '5 ) * not accede to fuch profiiirationt within four months after it is communicated to themj fo that they muft either agree thereto, however dangerous to their interefis, within that time, or fall unprotected facrifices to the French. — But the territorial pofltffion is not fhe only ill confequence arifing from this part of the treaty; for we thereby loie, and totally abandon, that preference of market for the manufadlures of thefe territories, fo to be procured to France^ which the Britifti Eaft India Company enjoyed; but which muft now be turned over to the French, by which means we fhall be (hut out from fupplying the German and other foreign markets with fuch piece goods as thofe terri- tories produce, which trade will from hence- forth fall into the hands of the French, And we not only allow the French a large portion of the fiftieries of Newfoundland and the Gulf of St. Laurence, but we alfo grant a full, entire, unreftrained, and unlimited right of fiftiing to the American States, as well on all the banks of Newfoundland and in the Gulf of St. Laurence, as alfo on the coafts, bays, and creeks of all other his Majefty's dominions in America, with liberty to cure the fame on any of the imfettled bay^^ harbours^ and creeks of Nova Scotia, Magdalen Iflands^ and La^ bradore^^ all which iiflieries they can make C 2 . much • It is to be prefumed that the Americans will not Ion"- fufter thele places to be unfettled j and it is but rea- fonablc '!i much greater advantage of from thcdr vicinity than we can, and they will, from many cir- cumftances, foon be able to underfell u$ at the European markets, which muft of courfe deftrov not only our valuable trade in that line, but affo our beft nurfery for feamen ; and, as if there was to be no limits to the requifitions of the Americans on the one hand, or to our conceffions on the other, they, not fatisfied wi^h even the foregoing range of fiflieries, are to have liberty to ii(h at all cA\i^x places in thefea, where the inhabitants of both countries ufcd at any time heretofore to fjh, fo that we may hot only exped to hear of them at Vavts's Streights and Greenland, but at the Shetland and Xrijh Jiftoeries ', and we may alfo be fa- voured with the fi^ht of a number of buj]es pnder the thirteen Stripes, filhing off the Land's End, in Tarmouth 'Roads, or perhaps even purfuing a fcull of herrings «/)//6^ Barnes. ^For the wording of the article will very well tear a conftrudion of that nature. jgut thefe conceffions are, in the opinion of that liberal Minifter who made them, of no national confequence, for he contends that trade of all forts (hould be free, open, and unre; ftrained as air, and that monopolies are of no lervice to this country. Pity it is that he did not fonable to conclude, that tlieir being thus privileged to have recourle thereto, muft be an efFedual bar to^a^ny Bn- tilh fubiedts attempting u iettiement tnere, wiuv» vr-ai^. prodiice eternal difputes. ( 17 ) not prevaiV upon the other contraaing powers to be of the fame opinion, as in that cafe, it is to be prefumcd, they would not have been fo eager to fecure what we have fo readily con- ceded, and at the fame time fet fo very little value upon, that even from the infant and un- authoritative States of America, we have not been able to obtainyo much as' one Jingle pofitive ftipulation in our favour, for the concefiion of thirteen Colonies, comprehending by the new boundaries a new edition of territory of eigh- teen thoiifand fquare miles, including many Indian nations in alliance with Great Britain, feveral Britifh forts, paffes, and carrying places, forming a commanding key to the remaining Britifh provinces of Nova Scotia and Canada, and deftroying the furr trade of the latter; as alfo for the eoncefficn of all the iflands within twen- -y leagues of the coafts of the American States, together with an unbounded right of fifliing, a right of making new fettlements on the coafts of ISl<.va Scotia, Magdalen Iflands, and Labra-- dore. A rtftoration of American artillery and other property, and of the archives, records, deeds, and papers belonging to any of the faid States, or their citizens. — And though indeed we have get, in lieu of thefc immenfe con- ceflions, a recommendation of the hyali/is to the different States, and a permifTion for them to remain for twelvemonths in endeavouring to obtain the refit ci Son of their property j yet we Jwve not fecured for thefe very nnfnrtnncfe and ( IS ) and deferted men, a ftipulation of even fo trifling a fecurity to them, as the refloration of any of the archives, records, deeds, and papers belonging to them, and which might in future lliew their claims to property in thofe States. ^ But notwithflanding the very liberal fenti- nients of our Minifter, that the peace had only removed monopolies, and that monopolies in trade ought not to be allowed ; yet our former enjoyments of them, was what chiefly con- tributed to render us rich and refpedable ; and, unfortunately for this nation, it will be found that the deprivation of the monopolies of our Canadian furr trade, our filheries, our gutn trade, our trade in the Eaft and in the Weft, with our confequent deficiency of trade in Eu- rope, will be the means of ftagnating our ex- ternal commerce, which muft prove diredly deftrudive of our naval force. Becaufe we do not ftand fo much in need of fhips, as of a Juccejjion of Jeamen, on which we muft depend for a fuperiority at fea, and which cannot be acquired by any other means than external commerce ', to the extent of which the number q{ Jeamen muft always be propor- tioned. . The fame caufes will fo evidently occafion a decay in our manufadures as not to require ani- madverfion, and that decay will occafion tv^o other fatal confequences. ift. Depopulation. 2d, ( 19 ) • 2d. The transferring of the myfteries of our manufadlures into other countries. Becaufe the unemployed manufad:urers, op- prefTed with the heavy taxes imprudently accu- mulaf^d on all the necejfaries of life, will emi- grate to more favourable fituations, and of courfe carry with them the myjleries of their bufinefs. And all thefe caufes combined muft be the means of diminifhing our national refources -, for if they have principally depended upon landed property, and extent of territorial pof- feffions, there now remains but a very linall remnant of what heretofore compofed this once great empire ; and from what has been already ftated, our remaining poffeffions in the Weft Indies, and Britilli America, do not appear to be in the mpft permanent ftate of dependence upon Great Britain ; nor have our pofleffions in Newfoundland, Africa, and the Eaft Indies a much more favourable afped. If our refources have of late years princi- pally depended upon our trade and manufac- tures, in that cafe they muft of courfe increafc or diminiih in proportion to the extent of our' external commerce ; which muft have been beft fecured and extended -hy ih^ monopolies of external markets, which we have abandoned by the late conceffions, and which monopolies of external markets differ widely from the,///- tpiiiil monopolies, whether of large compa- . { 20 ) Dies, or individuals, trading in the fame king- dom. ^ Thus the conceffions of this peace, mult inevitably, and fpeedily drag down upon us,' The Stagnation of external Commerce. The confequcnt deftruftion of our naval force. The decay of our manufactures. The confequent depopulation of this coun- try, and The tranfplanting of our manufadurcs into other countries* The diminution of our refourccs, either as arifing from extent of territory, or from extent of commerce. r i_ i /* f The conftant apprehenfions of the lofs ot more territories abroad, or the expence of a war ejlablijhment to fecure them. TJnder all iMhich circumjiances. The value of lands muft decreafe* Tlw fuurity of our public funds muft be- come worfe. * ' " .' * And to fam up all in the words of the JVH- nifter who has made this peace, "The Sun of Great Britain muft let to nie no more. . - , . ' Or to preferve fome faint glimmering of this letting luminary, we muft, notwithftanding the pacific difpofition of the nation, foon plunge into a frefti war, under a thoufand more unfa- vourable circumftances, than we now, armed at » Stocks are now from 20 to 2i per cent lower than at the clofe of lall war. - ( 21 ) at all prints, have rec^eontly given np \\\z con- teft, without obtaining an honoiirabU^ or ad- vantageous peace. Had indeed fuch a peace been hurried up, when a niohole army wa;: Inft under Gen. Bur- goyne, or another under Lo a Cornwallis with our iflands daily fallin? to tiie enemy, it might have claimed fome excnfe from i'e perilous complexion of thofe pcrioth \ but afrer iijving recovered thofe blows, and fince then gioii- oufly conquered in the Weft Indies^ acquired large territories in the Eaji^ dnd \\\ fuch a fitu- ation there as at lead to enable us to hold thtm, deftroyed another bpanijh Armada before Gibraltar, and relieved that important for- trefs, in the teeth of the united houfe of Bour- bon. Under all thefe advantageous circum- ilances, to fubmit to a peace upon fuch terms, is too dreadful to bear rcfledion. But to extenuate the debafing circumftan- ces, and dreadful confequences of this peace, the miniller who made it, and his adherents, have laid great llrefs upon our want of natU onal re four CCS to profecute the war, and have magnified to a great degree, the fuperiority of our late enemies therein. That the contrary was however the cafe, will it is conceived, fully appear upon due in- vefligation. For upon an impartial review of the fitu^ ation of our enemies at the concluiion of the late peace and armiftice, O I-ioiiana ( 22 ) Holland will be found difcontented at home, her maritime commerce, the great fource of her wealth, annihilated, and falling into the hands of the armed neutrality ^ who are not bound by any rcftridions, to relinquifli thefe new channels of trade, and of accumu- lating wealth ', the moft valuable poffeflions of the Dutch abroad, either in our hands, or in the hands of France, and they in every point of view, weak and impotent as an ene- my. America as it is well known, has been for a long time in the laft ftages of political con- fumption, her currency' depreciated almoft to the degree of blank paper, her armies unpaid, in confeqoence whereof infurredions of her troops had taken place, fix out of the thirteen , ftates refufing their quotas of men and mo- ney, moft of'^tjie remaining feven, fupplying their quotas in a feeble unwilling manner, al- moft the whole burthens lying upon the ftate . of Penfylvania, and one or two more, who were thereby drained to the laft extremity; alnro>ed and jealous at the hold that the French troops had got in their, territories ; their com- merce, the only fource of their wealth, ftag- i^ated by the power of our fleets and privateers on their coafts, in the Weft Indies, and in the channel ;,^ their inhabitants of courfe falling back upon themfelves, in murmurings, po- verty and difeuft j the BHtifli arms in poffef- lion I i ■.f.„ I i in) fion of many ftrong and commanding pofls, alon^ an extenfive range of their country. The American armies, feeble, and deranged from the different terms of their fervitudsj dif- contented, and anxious to rc:urn homt^ ; a number, and no contemptible number of loy- alifts, not only in the Britilh garrifcns, but alfo in the very heart of their itates, ready to feize upon the firil favorable opportunity to throw off the malk j added to all thefe and many more circumftances of internal diftrcfs, the manufadures of Europe, and all the ne- cefTaries of life, raifed to a mod exorbitant rate, their tillage and internal improvements nearly annihilated, their independence not acknow- ledged by more than France, and Holland, out of all the European States, and of courfe their trade and credit with Europe, confined and limited. Yet from thefe people, in this wretched fituation. Great Britain has not ob- tained for the immenfe conceflVons (lie his ma ie, one fingle pofitive flipulation in her favor. Spain will be found fo utterly averfe to the independence of North America, that though fhe madly combined with France in w.r againft Great Britain, with hopes of poiTelTm^ herlelf of Jamaica and Gibraltar, yet fo lenfible is Spain of her own interefts, that ilie has not yet been brought to acknowledge t/jai independence^ well, knowing that her valuable poiTeiTions in South Americ:'., muft, as well as the Britifli Wcfl India Idands, and remaining provinces D 2 of ( 94 ) of Nova Scotia and Canada, be ultimately luhjup;atcd by North America. With a for- iDidablc rebellion alio broke out in the heart of Spunifh America, which had not only curtailed a very large portion of her remittances from thence ; but co-operating with the bad fuccefs of the war had fo reduced the publick credit of ^pain, that it was fcarce pofTible for her under edi6h threatning the mqjijevere penalties for re- Jujal^ to fo.cc the fecurities of her government into circularion, even at almoft any difcount; her lols in ni^w and money before Gibraltar in- c edible, her troops at the Havanah fickly, and difpiriied, and her (hips both there and at home in the mod: wretched condition. Yet frora Spain, in this exhaufted fituation, Great Britain has not obtained for Minorca and the Florida's more than the inlignificaut Iflands of Provi- dence, and the Bahamas, with permiflion of cu..ng logvi^ood at fome future day, the terms of which are too degrading to require a C'^nimcnt. If it is contended that, though this was the cafe with Holland, America, and Spain, yet France was powerful in refources, and alone able to cope with Great Britain ^ how far will this be found leally to be the cafe upon a fai; invefligdtioa ? • " •i.;r navy con fiderably reduced, we having ourfclves got p ^TcUion of ten fhips of her line - jn the lait canipaign, which alone fhews our great fuperiuai:y ovci France, Many of her re- maining ( ^5 ) maining fliips in the riiort: fliattcrcd cniuililuii, and mod delpcrate flue of rcp.ur, and (cvcral of thofe in quarters of the world where t(icy cannot readily be rcinrtatcd; deficient in fea- tncn to man even the Hiips flie has he for actual i'ervice ; reduced, as JJ:e hitherto has been, to the necefluy of fupplying that deficiency with land forces, which ever has given us (and ever will, as long as that continues to be the cafe) a decided fupcriority over her, in inanoeuvrin'^- and fighting of fliips — Her fiflierits dellroycd by the polTefTion of the illuids of St. Pierre and JVliquelon — The ifland of St. Lucia, the lock and key of the French Weft India i Hands, in our polleffion — Her territories in the Eaft Indies and in Africa alfo in our poflelhon — Her fleet and army, fharing in the difgraces and mifcar- riagesbelore Gibraltar — Her private trade, her tranfports, her maritime fupplies, to and from all quarters, falling into our hands — Her go- vernment as well as her merchants groanin> the author now pro- ceeds to take fome notice of our public credit. For which purpofe, it is neceflary to bring to recoliet^ion, a fa(£t univerfally known and admitted, viz. that from the nature of our le- giflative fecurity, it is in no cafe neceflary for Great Bt'itain to do more than raife by taxes as much money as will, after defraying the ex- pence of colledion, pay the inter eji of fuch loans, as become neceflary for the fupport of government. And the reafon is obvious, be- E caufe ( 30 ) caufc m ahe credit of 3_gD^«:rnment forfljed as ours is, which however changeable jn the members of its adminiftration. >s permanent m "s%.>. the flock itfelf. o'-'l^"*^ "tee debt of government, for which the three eftates of King. Lords |nd Commo^ are fe- curitv, is always a marketable coronjodity, an;! Continue \o be fo as long ^^^^ fecured, which never cai,,fa.l vvh^'ft «^« ^ found to produce fuch iptereft. ,w.th wh.chye Ire ampl? provided, and if difputed the au- thor will, as he has-.befijre me^t^oae^^iUiider, $£Sr|£h Spiked an ,4^ia^£ Great Britain in money concerns, that i^diyi- 5S though member °f:.-ft-'? ''V^^'^'S us. are mSM more ;mciiJ,al>le to l^nd V.r tnoney on Aexredit .p| oqr.govsrnrnen?,^ than on that, of their owa. ,!,,,,>..; „ , irb i For neither the abfolutemonarehf^l govffti- nients. of Fnancc, Spain^ and mara otherv*.u- rooean lates. w^ich of couffe muft be depen- dent "«/fe ^7/ 1/ .«fV.; '^'^^'T-n tic^^vernment of HpHand, which .s d.v.ded mo^ a great va/ie.y of, parts, jn^ependen of each other, and of wb.cl^ the 'nf^"' J^'« °* .North America bear <^ /f'^Y^"^''r'^^ oofiiblv be deemed as good fecunties, tor mo,- S borrowed on „auUcnd^t, as Ae f