fince its establishment, £. 10,599,265, which were laid out by the commiffioners, in purchafing various public fecurities, amounting to £.13,617,895*. This, then, was the amount of the national debt, which had been by those means, paid off, before the first of August 1794. The fum, which was laid out for that purpofe, during the preceding quarter, amounted to .408,363. And, if we were to form a judgment from this great fum, which was thus applied, we might infer, that the finking-fund had, in no long period, nearly doubled itself, by the productive operations of compound intereft, with fome additional aids. This finking-fund not only raised the price of the public fecurities, by creating a conftant demand for them, but it promoted the industrious purfuits of the people, by keeping circulation full, and it thereby made the permanent income more *The general average, at which that great capital was purchased, was 77 per cent. It is curious to obferve the operations of the finking-fund, during those times, when we enjoyed peace, and were threatened with hoftilities, from the prices, which were paid by the commiffioners for the 3 per cent. confols. in every quarter. The firft quarter, ended on the 31st of October 1786, during which the confols. were` purchased at 77: The prices fluctuated, in the following quarters, as under 1787. 1793: 1788 1789. 1790. 1791. 1792. Pr.or. Pr. Qr. Pror. Pr. Qr. Pr. Qr. Pr. Qr. Pr. 18.798 22.88 26.78 2 ending 31 January 7416 76 to 731414.78 3 30 April - 767 7511. 74 15 78 31 July 7418. 74112. 76 16.73 19794 23.96427 75 20.8124.90 28. 764 · 31 October 71119. 744|13.801|17.70821.884 25.90429 - 750 productive, productive, during every fucceffive year. Thus, the permanent taxes, produced, in the twelvemonth, ending on the 5th of Jan. 1787 £. 11,867,055 12,923,134 5th of Jan. 1792 5th of Jan, 1793 14,132,000 14,284,295 Such, then, was the revenue of the nation, during the depreffion, in 1784; the principal measures, which were adopted for raifing it; and fuch was the amount of its exaltation; when Great Britain was forced into another war, by the dire neceffity of unprovoked hoftilities. Let us refolve, in the Janguage, and fpirit, of MILTON, "Neither to provoke, nor dread Сил.. CHA P. XIV. Unprovoked Hoftilities produce a new War.-The Strength of Britain-From ber PopulousnessFrom ber Trade.-From the Numbers of ber Shipping and Sailors-From the Magnitude of the Royal Navy.-From ber Revenue.-The Conclufion:-There is no Cause for defpairing of the Commonwealth. HE judicious reader has already determined, THE from the experience of the paft, that the pation was never more able to engage in vigorous war, than at the commencement of the prefent. We never had fo many people, nor fo many enlightened, and industrious, people, who were usefully employed; and who, with augmented capitals, obtained greater gains. We never exported fo great an amount of the products of our land and labour. We never had fo many fhipping, either for the ufes of traffic or warfare. Of thefe pofitions, the following details are adequate proofs: Average From thefe details, it is fufficiently apparent, that we employ upwards of five hundred and thirtyfour thousand tons of fhipping, more than at the commencement of the American war, and export a greater value of cargoes to the vast amount of £. 6,972,768. Of our commercial profperity, we hall find fupplemental proofs, if we examine the gross income of the post-office, which has been already ftated; and which shows clearly how commerce and revenue may promote each other. It is equally true, that the navigation and nautical ftrength of the country go hand and hand together: the mercantile fhipping maintain our naval militia, during peace, and our naval inilitia protect the mercantile fhipping in war. The amount of both will appear in the fubjoined TABLE; Comprehending the number of ships, with their tonnege, and * In page 277. men, men, within every part of the British dominions, 1791. 1792. 1793. England Scotland Ireland Ships Tons, Men. Ships. Tons. Men. Ships. Tonse Men. 10,423 1,168,469 86,897 10,633 1,186,610 87,569 10,779 1,206.778 87,393 2,104 161,486 13,777 2,143 162,274 13,491| 2,122 160,642 13,080 1,176 69,233 6,638 1,193 69,567 6,730 1,181 67,790 6,437 The Colonies 1,636 96,545 8,299 1,745 103,316 8,339 1,889 111,204 Jerfey 9,491 92 6,787 1,087 661 891 7,1421 4,477 866 177 4,177 81 93 6,144 649 810 15,647 1,511,401 117,113 16,079 1,540,145 118,286 16,329 1,564,520|118,952 Such were the number of fhips and failors, which, in thofe years, belonged to the merchants, within the British dominions; and which, by proper management, may be all converted to the ufes of war, if the royal navy were lefs equal to its important objects. By examining the following details, we shall acquire fufficient information, with regard to the * The year 1793 contains the shipping, which were registered between the 30th of September 1792, and the 30th of September 1793; the accounts being made up yearly to those dates. The numbers, which appear in the account of 1793, as prize hips, made free as British, were 661 vessels, containing 97,969 tons. comparative |