Danger of augmenting the PUBLIC DEBT. 325 
defence, to fupport the Bate in the moft effe&ual minner, 
without augmenting the debt ? Thofe who have property in 
the public funds, ought to think of preferving themselves ; 
and thofe who have no property there, to atft from the com- 
mon love of juftice, of their friends, and of their country. 
Methinks I hear a solemn voice pronounce, “ Sir, you write 
££ like an honeft man ; but you do not underftand the ftate of 
“ your own country ; your remedy is worfe than the disease : 
“ it will put things out of their courfe : let us keep out of 
<£ the quarrel, or not get into it, or we muft borrow : loans 
££ and the sinking fund will anfwer all the purpofes of the 
“ ftate : we fhall, in good time, pay off as much of the debt 
££ as is neceffary, without the trial of fuch expedients, to which 
££ the people have not riches, or at leaft not virtue enough 
££ to fubmit.” 
This is an argument of fome weight, but it takes too much 
for granted, It fuppofes no war, or no necessity of money 
ariftng from fuch war : or that the old way will ftill anfwer for 
twenty or thirty millions more. I argue from a perfuafion that 
war will happen ; that money will be wanted; that it ought 
not to be raffed by further loans ; and that it cannot be raifed 
by fuch loans, without creating a disease worfe than the re- 
medy propofed. Experience feems to point out to us, that fe- 
venty-ftve millions is the moft we can bear ; and that the only 
method to diminilh our debt in time of peace, is to prevent the 
increafe of it during a war. This generation may pafs thro’ 
life very comfortably, and perhaps our posterity alfo, tho’ we 
pay 
