I have already stated that the expense of conducting the present
war, and the government of the several states, may be done for two
millions sterling, and the establishment in the time of peace, for
three quarters of a million.*
* I have made the calculations in sterling, because it is a rate
generally known in all the states, and because, likewise, it admits of
an easy comparison between our expenses to support the war, and
those of the enemy. Four silver dollars and a half is one pound
sterling, and three pence over.
As to navy matters, they flourish so well, and are so well
attended to by individuals, that I think it consistent on every
principle of real use and economy, to turn the navy into hard money
(keeping only three or four packets) and apply it to the service of
the army. We shall not have a ship the less; the use of them, and
the benefit from them, will be greatly increased, and their expense
saved. We are now allied with a formidable naval power, from whom we
derive the assistance of a navy. And the line in which we can
prosecute the war, so as to reduce the common enemy and benefit the
alliance most effectually, will be by attending closely to the land
service.
I estimate the charge of keeping up and maintaining an army,
officering them, and all expenses included, sufficient for the defence
of the country, to be equal to the expense of forty thousand men at
thirty pounds sterling per head, which is one million two hundred
thousand pounds.
I likewise allow four hundred thousand pounds for continental
expenses at home and abroad.
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