THE BRITISH EMPIRE. 35 



And thirdly, enable government to appropriate a 

 fpecific fum annually to objects of national im- 

 provement; which, befides giving encouragement 

 to ingenuity, and employment to the induftrious, 

 would promote the circulation of fpecie throughout 

 the kingdom, increafe the demand for various arti- 

 cles of inland manufacture, keep the people at 

 home ; and finally produce^ in their operation, an 

 annual equivalent equal to the whole amount of 

 the original expence, if not, in many inftances, ex- 

 ceeding it. 



of accumulating intereft, provided that both principal and intereft 

 mall be permitted to operate, without alienating any part thereof, 

 as was originally propofed by the proje6tors of the linking fund in 

 1716. 



" Money, " fays the Dr. " bearing compound intereft increafes 

 at firit flowly* But, the rate of intereft being continually accele- 

 rated, it becomes in fome time fo rapid as to mock all the powers 

 of the imagination.- One penny, put out at our Saviour's birth to 

 5 per cent* compound intereft, would, before this time, have in- 

 creafed to a greater fum, than would be contained in a hundred and 

 fifty millions of earths all f olid gold, But if put out onjimple intereft, 

 it would in the fame time, have amounted to no more thanyk><? 

 Jlnllings and fourpence half-penny, 



Retpecting the prefent national debt, the Dr. fays, that a million 

 borrowed annually for 20 years, will pay off, in this time, 55 mil- 

 lions 3 percent, flock, if difcharged at 6ol. in money for every lool. 

 ftock ; and in 40 years more, without any further aid from loans, 

 333 millions (that is 388 millions in all) would be paid off. The 

 addition of 19 years to this period would pay off a thoufand 

 Millions. " 



" One million yearly applied to difcharge our debt, would, fays 

 Baton Maferes, raife in 60 years, at 75 percent. 317 millions. " 



Such is the hope yet remaining for this illand, after the long 

 train of political errors which characterize the age. It muft there- 

 fore afford every friend of his country, and of pofterity, very con- 

 fiderable fatis faction when hs contemplates, that by a flight requi- 

 fition on a few articles of luxury only, our incumbrances may be 

 difcharged, and all taxes on manufactures, and the ncceflaries of 

 life abolifhed. By this happy turn in our affairs we mall foon be 

 enabled to go to foreign markets with better goods, and at lower 

 prices ; nor will there be, under fuch circumftances, the fmallclt 

 pretence to ranfack the globe, in queft of remote fettlemeiits. 



C 2 So 



