Brief Memoirs of Henry Addington's Administration, Through the First Fifteen Months from Its Commencement [By G.I. Huntingford]. (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1802 Excerpt: ...as that taxes may be lighter, and the country be enabled on any emergency either to raise supplies within the year, or to borrow on advantageous terms, is a blessing most earnestly to be desired. But that the national debt should ever be extinguished, is much to be deprecated. For in the first place, monied men would find it difficult to substitute a mode on which to employ ploy their capitals, without trouble to themselves or risk to their fortunes. In the next place, commerce, and consequently wealth, would rapidly decline: for industry, which is the main spring, the life, and soul of commerce, would slacken as commodities and necessaries became cheaper through exemption from taxes. Then again, and a circumstance of very weighty consideration it is, the middle ranks of society would be much more indifferent to the welfare of the country. In those ranks we commonly find the creditors of the state. So long as the state is indebted to its subjects, thoie subjects are interested in the support of it. But take away the cause, which excites in the individual an anxiety for public welfare as connected with his own immediate prosperity, and he feels little concerned for its situation. It was said of Ireland "the misfortune of that country is, it has no national debt." The remark appeared paradoxical: yet upon examination it was found pregnant with political wisdom. It implied, "the subjects of Ireland are not individually interested in its welfare." Friday, April 2.--Notice was given at the Stock-exchange, that the sum wanted by way of loan for the services of the current year, would bjt be 26 million and a half: of which, one million and a half was to be raised in Ireland, for the service of that country. As the loan was for less money than h...