4 
Retro/ped of Domeflic Literature...Political Economy. 
rican war, progreffively increafed in a 
greater proportion than its expences. In 
our youthful days we remember being 
taught, that the refult of any fum in 
arithmetic, if correétly calculated, mut 
always be the fame, whatever variation 
there might be in the procefs: political 
arithmeticfans, however, are, weperccive, 
in the habit of drawing very different 
and contradictory conciufious from the 
felf fame data. 
nor required to correét their fatements ; 
but may certaigly be allowed to hint the 
danger of any falfe and flattering eftimate 
n financial fubjeéts: Diffiidence is far 
more becoming in a minifter than pof- 
tivenels and prefumption as to the re- 
fourcts of the kingdom: economy is the 
natural confequcnce of the firft, extrava- 
gance and beggary of the latt. Thote 
writers therefore, who, in order to fup- 
port our fpirits in thefe trying times, de- 
lude us witha difplay of fancied affluence, 
are guilty of an offence whofe enormity 
is only to.be meafured by the mifery 
which their works are calculated to pro- 
duce. We donot, by any means, intend 
to apply this remark to the author of the 
prefent pamphlet; his ftatements may, 
for aught we know, be fufficiently cor- 
rect, and his writings may refult from 
the pureft patriotif{m ; our’s is a general 
obfervation, and naturally refulted from 
contemplating the different, and, as we 
before faid, contradictory conclufions, 
which from the fame data are drawn by 
our modern financiers according to the 
tone and temper of their politics ! 
Mr. GRELLIER has publifhed ** The 
Terms of all the Loans which have been 
raifed for the Public Service during the 
laft Fifty Years; with an introductory 
Account of the principal Loans prior to 
that Period, and Obfervations on the Rate 
of Intereft paid for Money borrowed.” 
This ufeful publication affords a bird’s- 
eye view of the progreffion of minifte- 
rial extravagance. In the year 1776 a 
loan of two millions was raifed: for feven 
years prior to that period there were no 
fums borrowed, nor were there any for 
the four fucceeding years. In 1789, 
4,002,5001. were raifed; in the three 
fucceeding, nothing. The following ta- 
ble of loans, borrawed fince the com- 
mencement of the prefent war, affords a 
fubje€t of moft ferious and melancholy 
contemplation : 
1793 - - = £44,500,000 
1794..2: + =  I1,000,000 
1795. - - =, 18,060.000 
1796 ~- «© ‘= 25,560,000 
We are neither qualihed 
1029 
LIOR 2 =) £.3%,500,000 
1793 .- = =  £7;000,000 
1799. -. -. + 20,500,000 
The only publication which remains to 
be noticed is, a compilation whofe long 
title page ihows the important and multi- 
farious information which it contains : 
‘« Acomplete State of the Britifh Reve- 
nue for the Year, ending. January. s, 
1799: being an.authentic Copy of the 
feveral official Accounts prefented te 
the Houfe of Commons, placed under the 
following Heads: Public Expenditure ; . 
Public funded Debt, and Reduétion of 
the fame ; unfunded Debt, and outftand- 
ing Demands; Exports and Imports; 
Arrears and Balance of Public Account- 
ants; Account of the hereditary and 
temporary Revenues of the -Crown, and 
of the Civil Lift Grants ; an Account of 
the Revenues which would have been ap- 
plicable to the Civil Lift had they been 
referved by his prefent Majefty—of the 
Amount of the Annuity referved by his 
Majefty in lieu of thofe Revenues, and 
of the Difference to the Public; and, an 
" Account of the Expenditure of the Mo- 
ney granted for the Service of the Year 
2798.” 
PoLITICAL Economy. 
Mr. DaNniELWAKEFIELD hasattacked 
the French economifts in“ An Enquiry 
into the truth of their two pofitions, that 
labour employed in manufactures is un- 
productive, and that all taxes ultimately 
fallon land. This very important fub- 
_ject—for fo we confider it—as affording 
the only juft flandard of taxation, which 
for a confiderable time lay dormant, has 
of late been revived: their fyftem was 
oppofed by Dr. Adam Smith, with many 
ingenious and ftrong arguments; which 
arguments are fome of them placed by 
the prefent author in a new and ftriking 
light. 
The fubjeét has alfo been touched upon 
by Mr. WaLvace in his “ Effay on the 
Manufaétures of Ireland,’’ and very mi- 
nutely canvaffed by Dr. Gray in his’ 
pamphler, entitled, ‘‘ Effential Principles 
of the Wealth of Nations, &c.’’ of both 
which publications we have taken notice 
in our former Retrofpects. It is obvi- 
oufly impofiible that the queftion fhould 
‘be difcuffed within the narrow limits 
which are prefcribed to us: we can only 
fay, that notwithfanding the ingenuity 
and acutenefs of Mr: Wakeheld, we fee 
no fufficient reafon to relinquifh our fa- 
vourable opinion of the fyftem of the 
economifts. 
A Citwen of London has -publithed 
‘ 66 A 
