Four Letters to the Earl of Carlisle

Four Letters to the Earl of Carlisle

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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. 1779 edition. Excerpt: ...46,382,650 Debt. 31,784,256 increase during the war; 749 78,166,906 Debt. 3,089,641 decrease during the peace. 1755 75,77,265 Debt 71,505,580 increase during the war. 1763 146,582,845 Debt. 10,639,784 decrease during the peace. 1775 i35,943,61 Debt The result of all this is, that by the burdens inherited from our ancestors, we are obliged including including the expence of collecting, to pay in time of profound peace near twelve millions sterling annually; and if the mortgaged part of that revenue were free, we should possess supplies actually raised within the year, nearly adequate to the support of a very vigorous war, though not indeed so extensive as that of 1761, when the public expence amounted to nineteen; millions sterling. It is an observation rather of curiosity than of use; but your Lordlhip will find, I believe, that all the sums levied upon the subjects-of this kingdom in ninety years (being from the Revolution to the present time), for public services, have amount ed to about seven hundred millions sterling, of which about two hundred millions have actually been paid for the interest of public debts. In considering our actual situation, the effects of such a debt as I have described certainly deserve attention. 1. It is some inconvenience that we are made tributary to foreign nations, by the obligation to pay to them a large sum annually, for the interest of their property lodged in our funds. Opinions differ much as to the amount of this interest, but it cannot' be estimated at less than one million sterling.--And so large a drain would turn the exchange' M too too perceptibly against us, if the favourable balance of our trade (by whatever mode effected) did not operate to restore the level. Having mentioned this circumstance of...show more

Product details

  • Paperback | 34 pages
  • 189 x 246 x 2mm | 82g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 123651226X
  • 9781236512260