GREAT BRITAIN AND IRELAND. 



521 



6. Corn Laws. These laws form a peculiar feature in the systen^ of British legislation. 

 They prohibit the importation of foreign grain, and allow the exportation of English grain only 

 when it is sold under a certain price in the home market. This price is determined by tiie 

 average sales in certain specified places for a given time. Corn, also, may be imported when 

 the home market is above a certain price. The design of these laws is to bring the poor lands 

 of the kingdom into cultivation, and free the cultivator from foreign competition, while corn is 

 at a moderate "rice. The operation of these laws, however, is often oppressive to the poorer 

 classes, and the distress, which occasionally exists in the country, is, in a great measure, at- 

 tributed to them. 



7. Army and JVavy. At the close of the war, in 1814, the British army, including subsid- 

 iary troops, exceeded a million of men ; this embraced the army in India, the local militia, 

 volunteers, &c. The land forces of Great Britain, on the peace establishment, amounts to 

 about 110,000 men. The only means employed for raising regular troops, is that of voluntary 

 enlistment. But in the defence of the country, the militia, comprising all able bodied men, 

 between 18 and 45, are drafted by ballot. The marine force of Great Britain, during the Jate 

 war with France, included more than 1,000 vessels, manned by 184,000 seamen. This force 

 is much reduced, and there are now about 200 ships in commission. Sailors are enlisted like 

 soldiers ; but during war, when seamen are in high demand, the odious press-gang is resorted 

 to ; that is, sailors are taken by force, in the streets, and from on board merchant ships, and 

 compelled to serve on board the men of war. The royal navy employs about 30,000 men. 



8. Revenue. The revenues of Great Britain are immense. The first source of income is 

 the customs, which yield about 75 million dollars. The second is the excise, or duties upon 

 the internal consumption of various articles, as tea, beer, spirits, soap, candles, &c. These 

 produce about the same sum. Next are stamps, and taxes of various sorts, the poundage on 

 pensions, salaries, &c., with the post office, all of which yield about 90,000,000. The total 

 revenue amounts to about 220,000,000 dollars. The greatest sum ever raised in a single year, 

 was in 1813 ; this was 47Q,000,000 dollars. 



Principal Items of Expenditure. 

 Charge of collecting Revenue . .£2,850,000 



Public Debt (Interest, payments, &c.) 29,300,000 

 Civil List (Queen 390,000, Koyal family 



280,000, Annuities, &c.) . 1,720,000 

 Justice ..... 1,320,000 



Diplomatic ..... 316,000 



Army . . . . 6,520,000 



Navy ...... 4,750,000 



Ordnance ..... 1,444,000 



Miscellaneous ..... 3,800,000 



Principal Heads of Revenue. 

 Customs .... £23,951,719 



Excise (on glass 602.500L, on malt 5,700,000, 

 on soap 980,000., on spirits 5,465,880, 

 &c.) .... 10,073,299 



Stamps (on deeds 1,622,000, on wills 



2,040,000, &c.) . . . 7,350,000 



Land Taxes .... 1 ,200,000 



Assessed Taxes (on windows, 1,254,000, ser- 

 vants, horses, carriages, 

 dogs, &c.) . . 2,721,500 



Post OfBce . . . 2,350,000 



Miscellaneous ..... 500,000 



9. Debt. The national debt of Great Britain is 3,800 million dollars. This enormous 

 amount has been accumulated by borrowing money, and anticipating each year's revenue to pay 

 the interest. The debt is of two kinds, funded and unfunded. The unfunded debt consists 

 of deficiencies in the payments of government, for which no regular security has been given, 

 and which bear no interest ; and of bills, or promissory notes, issued by the exchequer, to de- 

 fray occasional expenses. When debts of this kind have accumulated, and payment is demand 

 ed, it becomes necessary to satisfy the demand, either by paying the debt, or affording the 

 creditors a security for the principal, and regular payment of the interest. Recourse has been 

 always had to the latter method, and a particular branch of the actual re^'cuue is mortgaged for 

 the interest of the debt. Money borrowed in this manner, is said to be borrowed hy funding. 

 The public funds, or stocks, are nothing more than the public debts ; and to have a share in 

 these stocks, is to be a creditor of the nation.* TJ^ere are 300,000 holders of public stock 

 in Great Britain. Three-fifths of the current yearly expenditure are taken up in the payment 

 of the interest of the national debt. 



* The value of public stock depenfl'i upon the stability 

 of the government, and flucluatP», m a small degree, ac- 

 cording to the accidents of war, or political changes. There 

 are many persons in Lo-ndon, whose occupation it is to 

 watch these fluctuations, and by buying and selling, as 

 they foresee a rise or fall of the stocks, realize great profits. 

 These are called stock jobbers. When the government, by 

 ft new loan, contracts an additional debt, bearing a certain 

 fixed interest, it is usual to arid this capital to that part of 



66 



the public debt which bears the same interest, and to unite 

 the taxes raised for the payment of the interest of both 

 These bear the name of consolidated annuities, or consols 

 The contract between the government and the original 

 subscribers to a loan, generally consists of different pro- 

 portions of 3 or 4 per cent stock, and terminable annuities. 

 All the articles included in the contract, bear the denomi 

 nation of omrtium. 



