For Anno 1693. Granted for the War 3,471,482 16 01 For Anno 1694. Granted for the War 5,030,581 09 09 For Anno 1695. Granted for the War 4,883,120 00 06 For Anno 1696. Granted for the War and to make good some Deficiences and to make good the Clipp'd Mony and for the Civil List and French Protestants 7,961,469 00 00 For Anno 1697. There was Granted for the War and to make good the Deficiences of former Funds and for the Civil List and French Protestants 11,887,160 00 9¼ Carry over 45,746,182 00 5 ¼  l. s. d. Brought over 45,746,182 00 05¼ For Anno 1698. There were Funds given amounting to about 4,500,000 00 00 Ordinary Revenue of the Crown reckon'd at a Million per Annum by a Medium during these ten Years might produce in the whole about 10,000,000 00 00  In all 60,246,182 00 5¼   l. s. d. Brought over 60,246,182 00 5¼ But in these Articles several Sums are twice reckon'd as for Example where one Fund was taken away and another given in its place and where Funds have been granted to supply the Deficiencies of other Funds for which Articles there may be deducted about 7,000,000 l. 12,000,000 00 00 And the ordinary Crown-Revenue might be charged during that time towards the War with about 5,000,000 l. So that there has been actually granted but about 48,246,182 00 5¼ 'T is not pretended That the foregoing Accounts are exact to a Tittle but according to the best Information we are able to procure they are as near the Truth as is requisite in our present Argument Having shown what has been granted in Fonds we shall now show what was intended by the Parliament and for five Years very little more demanded for the Fleet and Army  l. s. d. For Anno 1689 3,295,628 04 05 For Anno 1690 4,010,760 06 07 For Anno 1691 4,172,393 09 07½ For Anno 1692 3,629,439 12 03 For Anno 1693 4,117,080 09 06 For Anno 1694 5,030,581 09 09 For Anno 1695 4,883,120 00 06 For Anno 1696 5,024,854 04 11 For Anno 1697 4,880,078 19 11 For Anno 1698 1,300,000 00 00  40,343,936 17 05 ½ Note That from Anno 1693 inclusive to Anno 1697 inclusive the difference between what was demanded by the Ministers and granted by the Parliament for the Fleet and Army during those Five Years amounted in the whole time but to 1,465,623 l. 19 s. 9½ d. Suppose the Expence of the Civil List from 1689 inclusive to 1698 inclusive to have been one Year with another 600,000 l. per Annum  l. s. d. The Expence of the Civil List then in ten Years may have been 6,000,000 00 00 Towards which the ordinary Revenue of the Crown besides what it was charged with to the War may have yielded about 5,000,000 00 00 But in 1696 and in 1697 there was granted by the Parliament for the Civil List per Annum 500,000 l. in the whole 1,000,000 00 00 So that in this Computation the Expence of the Civil List is to be reckon'd at but 5,000,000 00 00 And the Accounts of England may run thus  l. s. d. Actually granted 48,246,182 00 05¼ Expence of the War l. s. d. 45,343,936 17 05½ 40,343,936 17 05½ Expence of the Civil List 5,000,000 00 00 Remains 2,902,245 02 11¾ So that except in the Article of Interest Mony and except in the Article of 1,465,623 l. 19 s. 09½ d. in which the Demands of the Ministers for the State of the War exceeded what was granted by the Parliament the Expences of the Government seem to have been fully supply'd and that there remains an over-Ballance of 2,902,245 l. to be accounted for Now as to Interest-Mony for the 5,000,000 l. with which the Crown-Revenue may have been charg'd towards the War those Fonds most of 'em have and will answer the Principal and all the Interest allow'd by Parliament And other Interest which several Fonds fell short of satisfying has been in a great measure made good by the Supply of 7,000,000 l. granted to answer Deficiencies And as to the State of the War having exceeded what was granted in ballancing the general Accompt this Article ought to be considered if during the whole War the Muster-Rolls have been full and if all along we have had our Complement of Ships and Seamen according to that State of the War which was every Year laid before the Parliament But upon the whole Matter considering what has been granted and what may probably have been expended there seems good Reason to think that the Publick of England if all Accompts were narrowly inspected cannot be much in Arrear either to the Fleet Army or to the Civil List So that if there shall remain any great Arrear in all likelihood it must chiefly arise from exorbitant Premiums unwarrantable Interest and other ways of laying out Mony hurtful to the King and distructive to the People The rough Draught of our general Accompts here given which is as perfect as a By-stander only could procure may perhaps afford some little Help to such as will think of these Affairs and this rude Model may contribute towards the forming of a better Scheme The Forty eight Millions granted as we have said by Parliament for the several Years from 1689 to 1698 inclusive have not been actually levied To state exactly how much of it has been already rais'd and what proportion of it remains secured by remote Fonds is not to be done without greater Helps than the Writer of these Papers can come at But so far we know and may affirm safely that a great part of the Product of Land our Trade and Manufactures remain still mortgaged for upwards of twenty Millions Two of the Nine Pences on Beer and Ale are to be esteemed as a Perpetuity the third Nine Pence is engaged for a long Term of Time the first Duty upon Salt can be look'd upon no better than as a perpetual Fond the new Customs continued Acts and Joint-Stocks the Duty on Marriages Births c. the first Duty on Stamp'd paper the Duty on Windows half the Duty on Glass-Ware the new Duties on Whale-Fins and Scotch Linnen are continued to the First of August 1706. The last Duties upon Salt and Stamp'd Paper are Perpetuities there is a further Subsidy of Tonnage and Poundage granted from the last of January 1699. for His Majesty's Life-time and the Impositions upon Malt Leather and Paper are not expired To imagine we can buy off and redeem in any moderate time all these Perpetuities or long Fonds is a vain Hope but this may be laid down for a certain Truth That England will never flourish in Trade and Manufactures till the greatest Part of 'em are clear'd and till our Affairs are brought to such a Posture that we may not pay to the Government either for the Support of the Crown or on Accompt of Fonds where the Principal is sunk above 2,300,000 l. per Annum or about a twentieth part
the Publick That Taxes make Mony circulate That it imports not what A pays when B is to receive it But we hope to show that they who argue in this manner are very much mistaken We have formerly touch'd upon this Matter in the Discourses on the Revenues and Trade of England to which we refer the Reader but the Necessity of our present Argument compels us here to handle this Point something more at large All Nations have a certain Annual Income upon which the People live and subsist out of which Taxes of all kinds arise which Income we take to be since the War In England 43,000,000 l. per An. In France 81,000,000 l. per An. In Holland 18,250,000 l. per An. And we must beg leave to repeat in this place something which we have laid down in those Tracts That to nourish the Mass of Mankind as to their Annual Expence in the Way and Form of Living practis'd in each of the three Countries such an Innual Income is necessary as is set down in the foregoing Scheme By Annual Income we mean the whole that arises in any Country from Land and its Product from Foreign Trade and Domestick Business as Arts Manufactures c. And by Annual Expence we understand what is of Necessity consum'd to Cloath and Feed the People or what is requisite for their Defence in time of War or for their Ornament in time of Peace And where the Annual Income exceeds the Expence there is a Superlucration arising which may be call'd Wealth or National Stock The Revenue of the Government is a part of this Annual Income as likewise a part of its Expence and where it bears too large a proportion with the whole as in France the common People must be miserable and burthen'd with heavy Taxes That part of the Prince's Revenue that nourishes his own Person is very little but in great Monarchies where numerous Armies large Fleets and pompous Courts are maintain'd there the Expence swells high insomuch that to the Maintenance of the Governing part viz. the Prince his Officers of State Military Power c. which are not in time of Peace above one 26th of the whole there is required near the Ninth Penny of the Annual Income And in such Countries the Governing part are Rich or at their Ease but the other 25 parts who are the Body of the People must be oppressed with Taxes as may be observ'd in the French Dominions And this holds more strongly where the Publick Debts make the Payment of a sixth part of the Annual Income necessary which for some time is like to be the Case of France To explain these Assertions shall be the Subject of this Section whereby it will appear how much the Ballance of Trade may be affected by our Payments to the Publick We shall endeavour to show in the last Section That the Wealth of a Country does in a great measure proceed from a right Administration of its Affairs However it may happen sometimes to increase in Riches where Things are in the main ill administer'd as England did to the Year 1688 in the two Reigns that preceeded this but whoever looks carefully into the true Reason why we grew so fast in Wealth during those Eight and twenty Years will find it was because we paid all that time but small Taxes and Duties to the Government comparatively with other Nations For in 1688. our gross Payments to the Publick in which Charge of Management was included did not exceed 2,300,000 per Annum Which was but little above one 20th Part of the then 44,000,000 An. Inc. But our Case is very much alter'd now and since that Year a great many new Revenues have been erected We still pay the old Excise the Customs and Post-Mony besides which there is laid Additional Duties upon Beer Ale and other Liquids Additional Customs the continued Acts and Joint Stocks Duty on Marriages c. double Duty on Stamp'd Paper Duty on Hackney Coaches on Malt. The double Tonnage the former and last Duties upon Salt The Duty on Windows upon Leather Paper and Coals The Old and New Impositions of all kinds reckon'd together and including the new Poll and the 3 Shillings Aid it will be found that there was collected from the People about 5,500,000 Last Year Which is above one eighth part of our present 43,000,000 An. Inc. During all the War there has been levied here great Sums every Year and many of the foremention'd Fonds are to continue so long that it will be several Years before our Annual Payments can be considerably diminish'd And there is such a difference between a Twentieth and an Eighth or indeed a Tenth or a Twelfth Part which yet we shall not come at in some time as must inevitably affect the Nation 's Trade and the whole Body of its People When there was rais'd no more than about a Twentieth Part there were great Sums of Mony to circulate in Foreign Traffick and to employ in enlarging our Home-Manufactures which two Fountains of our Wealth must be dry when the Springs that heretofore fed 'em are diverted and let into another Channel There is scarce any of these new Revenues which do not give Trade some desperate Wound The Additional Duties on Beer and Ale and the Tax upon Malt are apparently a Burthen upon the Woollen Manufactures affecting the Carder Spinner Weaver and the Dyer who all of them must be rais'd in their Wages when the Necessaries of Life are rais'd to them The Consequence of which will be That our Woollen Goods must come at a heavy and disadvantagious Price into the Foreign Markets There is no Man will pretend that High Customs are not pernicious to our Commerce abroad A Nation is not Gainers in the general Ballance of Trade by the Dealing of a Few who are able to employ in it great Stocks such may make to themselves an Immense Gain but they go but a little towards inriching the whole Publick which seldom thrives but when in a manner the Universal People bend their Thoughts to this sort of Business when every one is ready with his small Stock and little Sum to venture and rove about the World Of these some prosper and others are undone however in the way of Merchandize Men who do not thrive themselves may yet contribute very much to make their Country Rich which gets by the Dealings of all and does not suffer by the unfortunate Conduct of here and there a Merchant But when the Customs are High all these under Dealers who all along in England have made up the chief Bulk of our Trading Men must hold their Hands tho' in Skill Industry and inventive Parts and Wit they may exceed Merchants of more Wealth and of a higher Rank Nor is it indeed practicable for Men of but a moderate Fortune to Deal at all when more than treble that Sum is necessary to have ready now to pay the King which formerly would set up a Substantial