to be forced to have recourse to a tax, by which fome trade or manufacture might be affected, which increases our exports, and brings money into the kingdom. Though it must be acknowledged, that if we were free from the taxes upon paper, &c. and all taxes upon the neceffaries of life, even the trade of printing and bookfelling might be extended fo as to add a very confiderable increase to our exports, and thereby bring a very large fum yearly into the kingdom. But this is, like many others, a thing quod optandum eft, fed non expectandum.

As to the refolution for laying an additional duty on coals exported, it was fo far from being oppofed or objected to, that it gave great fatisfaction to every man who has any notion of trade or manufactures. It is indeed furprifing, that we fhould ever have allowed ourselves to be driven, by any neceffity, to make our own people, in any part of the British dominions, pay any tax upon coals; a commodity fo abfolutely neceffary for the induftrious poor, and for many forts of manufacture: but it is much more furprifing, that we should, for fo many years, have allowed our foreign rivals in trade and manufacture, to have our coals upon paying a tax of only 6 s. a chalder, whilft our own people in and about London were paying taxes upon coals to the amount very near of 9 s. a chalder. Therefore the impofing of this new tax upon coals exported to foreign nations, muft fhew the attention of the gentlemen now at the helm, to the true intereft of their country; and it is to be hoped, that the fame attention will induce them to make feveral other improvements in the art of taxation, which has been hitherto fo little underflood, or rather fo egregiously mistaken, in a country that depends fo much upon trade and manufactures.

Having already given the reason why the refolution of March 14. was waved, and the first resolution of April 28. agreed to and adopted in its ftead [516, 17.]. we fhall, upon the refolution of April 28. obferve what a difadvantage it is to this nation to be forced to anticipate, and to borrow money upon every

tax that can be thought of, for supply. ing the current fervice. It is true, we are to pay but 3 1. per cent. intereft; but then we are by this refolution to give, by way of premium to every fubfcriber, or lender, an annuity of 11. 2s. 6d. per ann. for every 100l. he fhall lend, and for the life of any fuch perfon as he should afterwards name. Now, we may fuppose, that almoft every lender will name fome healthful child of about seven years old, and generally one that has had the fmall pox, from whence we may compute the value of this annuity: for a child of that age, by the latest calcula. tions made at Paris [568.], has an equal chance to live 42 years and three months; confequently an annuity upon the life of a child of that age, is equal to an annuity for 42 years and 3 months certain. But then we are to confider, that these calculations were made upon mankind in general, including the weak and fickly, as well as the strong and healthful; therefore we may reckon, that the children to be chosen by these lenders as their nominees, will general. ly be fuch as have an equal chance to live 45 years, and that every one of these annuities will, for the most part, be equal to an annuity for 45 years certain; and from Mr Smart's tables we may eafily compute, that, when money is at 3 1. per cent. per ann. intereft, the present value of an annuity of 11. 2 s. 6d. for 45 years certain, amounts to 27 1. 11 s. 8 d. the whole of which we muft look on as a premium, paid by the public to thefe fubfcribers or lenders, o ver and above a yearly intereft of 31. per cent, until the principal be repaid. What may be faid of thefe moneylenders to the public, we do not know; but we know very well what would be faid of a money-lender in private life, who should take advantage of the diftrefs of the borrower, and exact a premium of 26 guineas, befides common intereft, for every hundred pounds he lent, upon what might be justly called a good fecurity.

We know it may be faid, that the natural intereft of the money was then above 3 1. per cent, as all our three per

cent.

cent. funds fold below par, and the anmuities could not be fold at near the price we have ftated. This, it is true, was a loss to the fubfcribers who were obliged to fell, but it was no advantage to the public; and it was occafioned by the neceffity the public was under to borrow, and the great quantity of annuities then brought to market to be fold for when there is an extraordinary demand for money at intereft, it must raife the natural rate of intereft, and confequently lower the price of all our public funds; and when there is a glut of any commodity at market, it must of courfe lower the price of that commodi. ty. But as foon as the war is over, or fhould the government be able to carry it on without borrowing any more mo ney, things would foon return to their natural course: this new fund, as well as all our public funds, would fell at, or above par; and the annuities would be worth, and would fell at, or above what we have stated them at, as the natural intereft of money upon public fecurities is not above 3 1. per cent. per ann.; confequently every fubfcriber who could advance and hold the whole fum he had fubfcribed, would have 1271. 11 s. 8 d for every hundred pounds he had fubfcribed. And hence we may fee, how neceffary it is to think of fome extraordinary method for paying off the national debt, and for raifing afterwards, yearly, as much money as may be neceffary for the current fervice of the year, in time of war, as well as in time of peace. For that fuch a method might be contrived, is far from being impoffible, if we would give up our selfish provincial prejudices, and refolve, that every man in the British dominions, above the rank of a day-labourer, fhould contribute yearly to the public revenue, as near as poffible, in proportion to the profits he makes yearly by means of the public protection; for this is what every man is in justice bound to do, and what every government ought to take the most effectual poffible methods to inforce. We fay, above the rank of a day-labourer; because day-labourers, whether in agriculture, manufactures, VOL. XIX.

or mechanics, ought never to be fubjected to any tax, no not even upon the conveniencies of life, fo far as is proper for people in their condition; for fuch taxes muft neceffarily increase the common rate of wages, and confequently inhance the price of our produce and manufactures at all foreign markets.

The other refolutions of this commit tee need no further explanation; nor was any of them objected to, either within doors or without, as the application of the finking fund to the current fervice, in time of war, now seems to be a measure submitted to by the whole nation; therefore we shall only add, that in the last money-bill, viz. that for applying the produce of the faid fund, the ufual claufe of appropriation was inferted, by an order of the Commons of May 27. no article of which was objected to in the other houfe; consequently the bill paffed both houses without any oppofition.

We must likewife add a remark upon that claufe of the act for enabling his Majefty to raise the fum of one million, &c. which impowers the bank to lend that fum; because it relates to a branch of our conftitution that ought never to be broke through. Before the revolution, or rather before the restoration, it was ufual for our kings, when they wanted money, and had no mind to apply to parliament for it, to demand a loan or benevolence from the subject, without any authority from parliament. But this was always deemed a breach of our conftitution in the lender or giver, as well as in the borrower or receiver, as it had a tendency towards enabling our fovereign to govern without a parliament. Therefore it has been moft justly complained of, when it appeared, that fuch loan or benevolence was fet on foot on purpose to prevent the king's being under a neceffity to call or affemble his parliament. But as a fum of money may, during the recefs of parliament, be immediately wanted upon fome fudden and unforeseen emergency, it has never been thought proper to prohibit the making of any fuch loan or benevolence by an exprefs and penal ftatute; 4 N

for

for which reafon the loan made by the city of London to King Charles II. just before the beginning of the firft Dutch war, was never complained of, either by the people, or the parliament; and the voluntary contributions raised during the late rebellion, for the fupport of the government, were not then found fault with: though it must be confeffed, that as the parliament was then fitting, it would have been proper to have authorised the collecting of fuch contributions by a fhort act of parliament; for a dangerous practice may hereafter be founded upon that precedent, and it is to be doubted, whether all the collectors made a strict account of what they collected.

But though no general law could ever fafely be made against the subjects making any loan, or giving any benevolence to the crown; yet, when the bank, came to be established by act of parliament, it was juftly apprehended, that fuch an opulent fociety might be induced to lend fo large a fum of money to the crown, as would at an emergency be of the most dangerous confequence to our conftitution; and therefore, in the act 5° & 6° William and Mary, by which act the bank was established, there was a clause inserted, by which it was exprefsly enacted, That if the bank fhould at any time purchase any lands or revenues belonging to the crown, or lend to their Majefties, their heirs or fucceffors, any fum of money, by way of loan, or anticipation, on any part of the revenue, then granted, or afterwards to be granted, other than fuch part only on which a credit of loan was or should be granted by parliament, the governor or members confenting to fuch purchase or loan, and being thereof legally convicted, fhould, for every fuch offence, forfeit treble the value of fuch fum fo paid or lent, one fifth to the informer, and the refidue towards fuch public uses as fhould be directed by parliament.

This made it neceffary to infert the above-mentioned clause in the faid act, for enabling his Majesty to raise one million; and whilft our government are under a neceffity to anticipate, which it

were to be wished they never were, the general rule of our conftitution renders it neceffary to infert a clause of credit, (that is to fay, a clause, enabling, or rather giving leave to natives or foreigners to lend) in every money-act now paffed in parliament, by which clause the highest rate of intereft to be allowed is generally determined.

We come now to give an account of the most important of those bills brought in laft feffion, which were found neceffary to be paffed into laws. The firft of which was the bill for prohibiting the exportation of corn, &c. We have already mentioned how readily, and how unanimoufly the order for the bringing in of this bill was agreed to [442.]: and it was as fpeedily paffed into a law; for it paffed both houfes fo quickly, that it received the royal affent, by commif. fion, Dec. 18.; but as it is to continue in force only till next Christmas [xviii.583.], it may perhaps be further continued by a new bill next feffion.

But this was far from being all the relief provided by parliament laft feffion. For a committee was appointed, Dec. 16. to confider of proper provifions, for preventing the high price of corn and bread for the future; and, Jan. 12. Sir John Philipps, their chairman, reported, as the opinion of the committee, 1. That the taking off the duty upon foreign corn to be imported into this kingdom, for a limited time, would be a proper and fpeedy means of reducing the then high price of corn and bread; and, 2. That the permitting fuch foreign meal, bread, and bifcuit, as had been, or fhould be taken from the enemy, to be landed and expended in this kingdom, duty-free, for a limited time, would be another proper and speedy remedy for reducing the then high price of corn and bread. Which report was referred to a committee of the whole house; and next day, upon a report from that committee, the houfe refolved, 1. That the duty then payable upon foreign corn and flour imported, fhould be taken off for a limited time; and, 2. That such foreign corn, grain, meal, bread, biscuit, and flour, as had been, or fhould be

taken

taken from the enemy, fhould be permitted, for a limited time, to be landed and expended in this kingdom, dutyfree. Pursuant to which refolution, a bill was ordered to be brought in; was prefented next day, paffed both houfes without oppofition, and received the royal affent Feb. 15. But as it was to continue in force only till Aug. 24. a new bill was paffed the fame feffion for continuing it till Nov. 15.; which term is alfo now paffed. [57. 255.]

Jan. 13. upon a motion made by Mr Ofwald, one of the commiffioners of trade and plantations, it was ordered, that leave thould be given to bring in a bill, to prohibit, for a time to be there in limited, the exportation of corn, grain, meal, malt, flour, bread, biscuit, ftarch, beef, pork, and bacon, or other victual, from any of his Majesty's colonies and plantations in America, unlefs to G. Britain or Ireland, or to fome of the faid colonies and plantations. This bill was neceffary, not only for reducing the high price of corn here at home, but for preventing any fupply of provifions being fent to our enemies in America; confequently we may fuppofe, it paffed without any oppofition. It received the royal affent Feb. 15. This act is to remain in force during the continuance of the prefent war; and by inftructions to the committee upon the bill, a claufe was added, for allowing corn, &c. to be imported in foreign built fhips, and from any state in amity with his Majefty, either into Britain or Ireland. [58.]

Jan. 18. Sir John Philipps reported from the above-mentioned committee, as their opinion, That the prohibiting of wheat to be made ufe of in the distillery, for a limited time, would be a means to prevent the high price of wheat and bread for the future. The house went into a committee, on this report, on the 19th; and next day, on report, refolved, That to prevent the high price of wheat and bread, no spirits fhould be diftilled from wheat, for a time to be limited. In purfuance of which, a bill was ordered in. But before this bill was brought in, i. e. Feb. 4. there was prefented,

a petition of several of the common brewers of London, Westminster, Southwark, and parts adjacent, on behalf of themselves and the reft of the brewingtrade; taking notice of the faid bill being ordered to be brought in, and alledging, that, upon paffing the said order, the price of malt, before too high, was immediately fo much advanced, that the petitioners found themselves utterly incapable of carrying on their respective trades, at the price malt then bore in the markets, occafioned, as they conceived, by an apprehenfion of the neceffity the diftillers would be under, to make use of the best pale malt, and to fubstitute the beft barley in lieu of wheat; and that, in such case, the markets would not be able to fupply a fufficient quantity of barley for the demands of both trades, befides other neceffary uses; and therefore praying, that in regard to the public revenue, to which the trade of the petitioners fo largely contributed, fuch measures might be taken for preventing the public lofs, and at the fame time relieving their particular diftress, as to the houfe fhould seem meet.

Upon this petition an inftruction was prefently ordered to the gentlemen appointed to prepare the bill, that they fhould make provifion therein, to reftrain the diftilling of barley, malt, and all grain whatsoever, for a limited time. And in pursuance of this order, a bill was accordingly prepared, to prohibit, for a time to be limited, the making of low wines and fpirits from wheat, barley, malt, or any other fort of grain ; which bill was prefented Feb. 8. paffed both houses, and received the royal affent March 11. [151]

But this bill, in its courfe, met with a good deal of oppofition, both within doors and without; for several petitions were presented, and the petitioners were heard by their counsel against it. The ftrongest argument against the bill was a fact which could not be denied, viz. That there always are very large quantities of wheat and barley in this kingdom, which are either damaged, or of fo ordinary a kind, that they are unfit for any ufe but that of diftilling; and N 2 4

1

that