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them; but, how to enfure peace, for any térm of years, is difficult enough to apprehend. Will human nature ever cease to have the fame paffions, princes to entertain defigns of intereft or ambition, and occafions of quarrel to arife? May not we ourselves, by the variety of events and incidents which happen in the world, be under a neceflity of recovering towns out of the very hands of those for whom we are now ruining our country to take them? Neither can it be faid, that thofe ftates, with whom we may probably differ, will be in as bad a condition as ourselves; for, by the circumftances of our fituation, and the impofitions of our allies,, we are more exhaufted than either they or the enemy; and, by the nature of our government, the corruption of our manners, and the oppofition of factions, we fhall be more flow in recovering.

It will, no doubt, be a mighty comfort to our grandchildren, when they fee a few rags hung up in Weftminster-hall, which coft an hundred millions, whereof they are paying the arrears, to boaft, as beggars do, that their grandfathers were rich and great.

I have often reflected on that mistaken notion of credit, fo boafted of by the advocates of the late ministry: Was not all that credit built upon funds raised by the landed men, whom they now fo much hate and defpife? Is not the greatest part of those funds raised from the growth and product of land? Muft not the whole debt be entirely paid, and our fleets and garrisons be maintained, by the land and malt-tax, after a peace? If they call it credit, to run ten millions

in

in debt, without parliamentary fecurity, by which the public is defrauded of almoft half; I must think fuch credit to be dangerous, illegal, and, perhaps, treasonable. Neither hath any thing gone further to ruin the nation, than their boasted credit. For my own part, when I saw this falfe credit fink, upon the change of the ministry, I was fingular enough to conceive it a good omen, It seemed as if the young extravagant heir had got a new steward, and was refolved to look into his eftate, before things grow defperate; which made the ufurers forbear feeding him with money, as they used to do.

Since the monied men are fo fond of war, I fhould be glad they would furnish out one campaign at their own charge; it is not above fix or feven millions; and I dare engage to make it out, that, when they have done this, inftead of contributing equal to the landed men, they will have their full principal and intereft at fix per cent., remaining of all the money they ever lent to the government.

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Without this refource, or fome other equally miraculous, it is impoffible for us to continue the war upon the fame foot. I have already obferv ed, that the laft funds of intereft fell fhort above a million, although the perfons most converfant in ways and means, employed their utmost invention; fo that, of neceffity, we must be ftill more defective next campaign. But, perhaps, our allies will make up this deficiency on our fidé, by greater efforts on their own. Quite the contrary; both the Emperor and H

d failed,

this

this year, in feveral articles; and fignified to us, fome time ago, that they cannot keep up to the fame proportions in the next. We have gained a noble barrier for the latter, and they have nothing more to demand or defire. The Emperor, however fanguine he may now affect to appear, will, I suppose, be satisfied with Naples, Sicily, Milan, and his other acquifitions, rather than engage in a long hopeless war, for the recovery of Spain, to which his allies, the Dutch, will neither give their affiftance nor consent. So that, fince we have done their bufinefs, fince they have no further fervice for our arms, and we have no more money to give them; and, laftly, fince we neither defire any recompenfe, nor expect any thanks, we ought, in pity, to be difmiffed, and have leave to fhift for ourselves. They are ripe for a peace, to enjoy and cultivate what we have conquered for them; and fo are we, to recover, if poffible, the effects of their hardships upon us. The first overtures from France, are made to England upon fafe and honourable terms; we, who bore the burthen of the war, ought, in reafon, to have the greatest share in making the peace. If we do not hearken to a peace, others certainly will, and get the advantage of us there, as they have done in the war. We know the Dutch have perpetually threatened us, that they would enter into feparate measures of a peace; and, by the ftrength of that argument, as well as by other powerful motives, prevailed on those who were then at the helm, to comply with them on any terms, rather than put an end to the war, which, every year,

brought

brought them fuch great acceffions to their wealth and power. Whoever falls off, a peace will follow; and then we must be content with fuch conditions as our allies, out of their great concern for our fafety and intereft, will pleafe to chufe. They have no farther occafion for fight-. ing, they have gained their point; and they now tell us, it is our war; fo that, in common justice,, it ought to be our peace.

All we can propofe, by the defperate steps of pawning our land or malt tax, or erecting a general excife, is only to raise a fund of intereft, for running us annually four millions further in debt, without any profpect of ending the war, fo well as we can do at present. And when we have funk the only unengaged revenues we had left, our incumbrances muft, of neceffity, remain perpetual.

We have hitherto lived upon expedients, which, in time, will certainly deftroy any conftitution, whether civil or natural; and there was no country in Christendom had less occafion for them than ours. We have dieted a healthy body into a consumption, by plying it with phyfic, instead of food. Art will help us no longer; and if we cannot recover, by letting the remains of nature work, we muft inevitably die.

What arts have been used, to poffefs the people with a strong delufion, that Britain must infallibly be ruined, without the recovery of Spain to the house of Auftria? Making the fafety of a great and powerful kingdom, as ours was then, to depend upon an event, which, even after a war of a miraculous fuccefs, proves impracticable. As

if

if princes and great ministers could find no way of fettling the public tranquillity, without changing the poffeffions of kingdoms, and forcing fovereigns upon a people against their inclinations. Is there no fecurity for the ifland of Britain, unlefs a king of Spain be dethroned by the hands of his grandfather? Has the enemy no cautionary towns and fea-ports to give us for fecuring trade? Can he not deliver us poffeffion of such places as would put him in a worfe condition, whenever he should perfidiously renew the war? The prefent king of France has but few years to live, by the course of nature, and, doubtlefs, would defire to end his days in peace. Grandfathers in private families, are not obferved to have great influence on their grandfons; and, I believe, they have much less among princes; however, when the authority of a parent is gone, is it likely, that Philip will be directed by a brother, against his own intereft, and that of his fubjects? Have not those two realms their feparate maxims of policy, which muft operate in times of peace? Thefe, at least, are probabilities, and cheaper by fix millions a year, than recovering Spain, or continuing the war, both which seem abfolutely impoffible.

But the common queftion is, if we must now furrender Spain, what have we been fighting for all this while? The answer is ready; we have been fighting for the ruin of the public intereft, and the advancement of a private we have been fighting to raise the wealth and grandeur of a particular family, to enrich ufurers and stockjobbers, and to cultivate the pernicious designs of a faction,

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