Danger of augmenting the PUBLIC DEBT. 323 
lie funds, many might fuffer inconveniences, for a time, by 
its being paid into their hands ; yet it is obvious, that as pri- 
vate men, be their fortunes ever fo large, where indudry, {kill, 
and commerce are encouraged, employ their money; a greater 
number of people, under the fame circumdances, may keep 
their whole dock in motion alfo, tho’ with fome change of 
objects. 
If the debt was paid off, money would be at a cheaper in- 
tered to individuals ; thofe who now pay five, might obtain 
it for three per cent, confequently more money would be 
thrown into trade, notwithdanding it is imagined there is al- 
ready too much. Debts would be paid off by lords and gen- 
tlemen, which are now tranfmitted down as an incumbrance on 
their poderity : houses would be built, which have now no ev- 
idence, not even in imagination : arts and mechanics, of every 
kind, would be encouraged more : new kinds of indudry and 
new employment would arife : our lands would be more im- 
proved and cultivated : all confumptions would be cheaper, 
becaufe the taxes which now raife two and a half millions for 
the payment of interest, would be annihilated. Who can 
doubt that we fhould, upon the whole, be a happier people 1 
But as this event is at a very great didance, we may purfue 
our plan for preventing the increafe of the debt, without lodng a 
moment’s time about what part fhall be paid off, or when. I am 
fuppodng a war, and that it will call for large fupplies ; and I 
take for granted, of the two evils, the least is to prevent the 
augmentation of the debt : this can be done only by railing fuch 
fums as are neceffary for the annual current service within 
T t 2 the 
