1800.] - 
tal, or from fome other fource: the re- 
nunciation of fome of the luxuries or ac- 
commodations of focial life may frequent- _ 
ly become neceflary to the middling or 
lower claffes of the community, in confe- 
quence of an advance in the coft of the ne- 
ceffaries of life; but it feldom reduces 
their atual expenditure, as few perfons 
contract the expence at which they have 
been accuftomed to live, except when they 
find the means of fupporting it fail; and 
certainly for thofe that do fo, there are in 
general a greater number who are increaf- 
ing their expences. Littlecould therefore 
be expected from retrenchment towards 
furnifhing a new accumulating surplus, if 
the whole of the prefent were abforbed in 
ufelefs employ: nor is it probable that 
under fuch difcouraging circumitances the 
prefent pofleffors of capital would feel 
any ftimuius to increafe their exertions in 
deriving’a profit from it, or that their at- 
tempts to augment the commercial profits 
drawn from other countries, by the trade: 
carried on ugon the prefent capital, would be 
in any mata wale degree fuccefsful, as 
there are few perfons in trade who do not 
at prefent endeavour to make, all the pro- 
fit they can by it. From thefe fources, 
therefore, there would little hope of reco- 
vering the power of making an annual ad- 
dition to the national ftock, or even of 
being able to increafe the expenditure ; 
but in faét if the whole furplus, which - 
before was annually added to the national 
ftock, is taken towards the expences of 
government, it by no meats wholly, de- 
firoys, though it greatly impedes, the pro- 
grefs of accumulation: a part of it may 
be expended abroad in a manner which 
makes no return of real benefit to the 
country from which it is drawn, but the 
greater part is generally {pent at home, 
or in the pay of foldiers and failors, who, 
though occafionally refident in foreign 
parts, are members of the ftate, and confe- 
quently their pay forms a part of the ge- 
neral income, and returns into circulation 
in the purchafe of different commodities, 
and various expences that afford a profit 
to others. ‘The principal part of the tax, 
therefore, returns among thofe from whom 
it was drawn, and contributes to increafe 
their revenue, though ina much fmaller 
proportion than it had diminifhed it ; and 
this profit on the expenditure, not only of 
the fums levied in taxes, but of all the 
money borrowed by government, is a cir- 
cumftance that contributes much to enable. 
the people ‘to bear the great increafe of 
taxes. The fums borrowed during the 
prefent war, including the loan of twenty 
MontTHuy Mac, No. 64. 
Mr. Grellier on the National Wealth. 
217 
millions and a half in February laft, 
amount to 14.7,500,0001.* and, confider> 
ing the nature of the public expenditures 
and that either! originally or ultimately a 
great part of the money mult have been 
applied to the purchafe of articles of trade 
and manufactures, there will be little dan- 
ger of over-rating the profits of all de- 
{criptions thereon, in taking it at 12 per 
cent. or 17,700,000. on the whole, indea 
pendent of a coniiderable part of it having 
intermediately formed a revenue to perfons 
who muft otherwife have been fupported 
from other fources. 
The profit which arifes out of the ex- 
pences of government is, however, much 
{maller than it would have been, had the 
fum drawn from the people remained the 
property of thofe from whom it is taken, 
as in their hands it would immediately 
have been improved to the uimoft, which 
is by no means the cafe with the money 
raifed in taxes. ‘The profits to individuals 
which arife out of the fums expended: by 
government, are likewife thrown into very 
different hands from thofe in which they 
would otherwife have refted ;.and are con- 
fined to particular claffes, while the taxes 
by which the money is raifed extend to 
perfons of ali defcriptions : thus the com- 
miffary or contractor generally pays buta 
very trifling fum towards the public res. 
venue, in comparifon with the profits he 
derives from the expenditure of it; while 
the common labourer, who receives no 
private advantage from the expences of 
government, except. perhaps, in fome in= 
ftances, a greater certainty of employ, 
may be compelled by the increafing price 
of articles of confumption, occafioned by 
the taxes, to contribute towards: it ina 
degree he can very ill afford. 
In raifing the public revenue, it is 
found, that the moft. produftive taxes are 
thofe on articles of confumption, as tea, 
fugar, beer, fpirits, tobacco, falt, &c.+ 
which defcription of taxes evidently fall 
much heavier on the poor than on tke 
rich ; thus, if the prefent duty on any of 
thefe articles was doubled, it would com- 
pel the poor, in many cafes, to relinquifh 

* For the particulars, fee <¢ The Terms of 
all the Loans which have been raifed for the Pub= 
lic Service during the laft fifty Years, dc.” 
+ The tax on ‘ncome, lately adopted, differs 
confiderably from tle other branches of the 
revenue, and if formed on equitable princi- 
ples it would perhaps be the beft mode of tax: 
ation; but in its preient fhape it is particularly 
Opprefiive to a great number of the moft ufee- 
ful members of the community, 
Ff the 
