It never depreciated by any advantage obtained by the enemy.
The troubles of 1776, and the loss of Philadelphia in 1777, made no
sensible impression on it, and every one knows that the surrender of
Charleston did not produce the least alteration in the rate of
exchange, which, for long before, and for more than three months
after, stood at sixty for one. It seems as if the certainty of its
being our own, made us careless of its value, and that the most
distant thoughts of losing it made us hug it the closer, like
something we were loth to part with; or that we depreciate it for
our pastime, which, when called to seriousness by the enemy, we
leave off to renew again at our leisure. In short, our good luck seems
to break us, and our bad makes us whole.
Passing on from this digression, I shall now endeavor to bring
into one view the several parts which I have already stated, and
form thereon some propositions, and conclude.
I have placed before the reader, the average tax per head, paid by
the people of England; which is forty shillings sterling.
And I have shown the rate on an average per head, which will
defray all the expenses of the war to us, and support the several
governments without running the country into debt, which is thirteen
shillings and four pence.
I have shown what the peace establishment may be conducted for,
viz., an eighth part of what it would be, if under the government of
Britain.
And I have likewise shown what the average per head of the present
taxes is, namely, three shillings and fivepence sterling, or
threepence two-fifths per month; and that their whole yearly value, in
sterling, is only sixty-four thousand two hundred and eighty pounds.
Pages:
178
179
180
181
182
183
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199
200
201
202