do the inhabitants of this kingdom pay annually in taxes ? G. I cannot tell. P. I question whether any body can, but the most probable calculation is about twelve millions. G. Twelve millions !* P. Patience! I have not done. More than twelve millions are paid directly, and indirectly at least a fourth more, in all fifteen millions a year, a sum equal to the whole specie of the kingdom. G. By indirect payments you mean such additions to the prices of commodities as are made by what dealers lay on, and other incidents occasioned by taxes? P. I do, beside the loss to the public of the labour of all such as are employed in taxation, and other such articles. G. Do you include in this estimate poor rates, county rates and tithes? P. No, I do not, all these are to be added. G. At this rate the nation ought to have upwards of sixty millions of specie to carry on trade: but if it has not twenty, how does it support itself? P. As a merchant supports himself when he has not property equal to his commerce; by credit and paper currency. G. Happy for him that his creditors do not all run upon him at once; till they do, he can borrow of you to pay me. P. His wisdom is, to preserve his credit by fru*Upwards of thirty millions are now(1805) annually paid in direct taxes; exclusive of some heavy war taxes. gality, industry, and improvement. Give a man of these qualities time and means, and he will surmount all suspicion, and realize a property that originally was nominal. G. My uncle is so eager for economy as a ground of plenty, that he says, when a bishop goes to heaven he would not appoint a successor, but would put the profits of the bishoprick into the hands of a committee, under the inspection of proper officers, to be employed for the encouragement of trade and manufactures, and so he would go on to the last of the bench. He calls this reduction of crown influence, and improvement in trade. P. Ay, he says, that though the church constitution is the best in the world, yet that mankind would rather live well and get money without it, than starve to death for want of employment under it. He would find employment for every living thing, and turn even a bench of bishops into a board of trade. G. How many inhabitants may I suppose there are in Great Britain? P. About seven millions. G. And how many employed in directing, inspecting, collecting, spending, and living on the publick revenues obtained by the industry of the rest? P. A greater multitude than you would at first glance suppose, the far greater part of which ought to be employed in contributing some way or other to the productions of the state: but these people call themselves the grandeur of the state, and say, they produce the publick good by consuming our property, and making us look great. G. Is there not a reciprocal dependency between the interest of land and trade? P. Take the pen, and write as I dictate, and you will soon see what advantages arise from a hundred broad cloths sent to Turkey, and the returns made in raw silk unmanufactured for our own home consumption. Suppose a clothier buys at market 50 packs of wool, picked and sorted, at 101. per pack With which wool he makes 100 So that these 100 cloths are sold. 1. S. d. 500 0 0 500 0 0 1000 0 0 333 6 $ 75 0 0 The said 100 cloths will cost the Thus he probably receives, for the And, if the other half part is ing, suppose but of 1-eighth part nufacture of the raw silk brought from thence in return thereof, must amount to The freight of the said 100 cloths, English factor's commission abroad It is here clearly represented to If any thing is to be added for the merchant's and the mercer's gain, and we may depend upon it they will not be at the trouble of driving their trades for nothing, we may very well affirm, that the whole cost of this manufacture for consumption, cannot be less than 5000l. so that 2200 pounds weight of Turkey raw silk, manufactured |