and her Levant trade; and has she not at the same time, become possessed of the government of the greater part of Europe?. Foreign trade, notwithstanding all its advantages, is not essential to a nation; and I must request my countrymen not to overrate it, nor rest upon it as their sole dependence. Ineffectual will be found the turning over of folios, and the adding of figures to figures, when the din of war is in our ears, and when the hearts and hands of the whole community are required. to keep it at a distance. I have no desire, however, to depreciate what is so justly esteemed, nor to alarm the timid into despondency: but I wish, if possible, to guard the people against that false confidence, which, by throwing them off their guard, may terminate in disappointment. The best proof I can give, that I consider trade as a valuable acquisition, is, the accounts which I have introduced into the chapter on Commerce, of the amount of exports and imports, and the tons of shipping employed: all I require is, that the reader will view them in their proper light, and draw his conclusions from a just estimate. Let us never forget the expression of Lord Bacon: "the sinews of war are not money, but a numerous, valiant, and military people."* I do not, however, wish to hold up Ireland and its resources as valuable only in a military point of view: my intention is, to shew that the arts of peace are necessary to the exertions of war; and that a nation, by enjoying peace, is better able, when an appeal to arms becomes necessary, to undertake and carry on war. But when I peruse the accounts of theoretic calculators, who assert that commercial wealth affords the means of supporting war and of conquering enemies, I advert to the opinion of the illustrious philosopher whom I have just quoted. Equally delusive are those speculators, who, looking only to the multitude of figures with which our public ledgers are filled, proclaim that the nation is ruined. When national ruin is thus foretold, with an assumed air of prophetic wisdom; when alarm is industriously spread, and despondency encouraged, I ask, whether the thunder of our navy is silenced; whether we have fewer ships and worse seamen, smaller armies and less experienced soldiers than formerly? Do not those who have thoroughly considered the subject know, that all the revenues necessary for their maintenance are increased? And is not every statesman who has examined the condition of the British Empire convinced, that if proper measures be pursued to conciliate the people of Ireland, to enlighten them, to raise them from their degraded state of poverty, and to render them as much interested in defending the empire as those of England; Britain, notwithstanding its heavy load of debt, and the burden of useless placemen and pensioners, may yet rise superior to all her difficulties, and brave the awful storm which has shaken, and is still raging throughout, Europe. I have been led into this general digression on the subject of finance, from a conviction of its importance. The present is no common period; and every thing that can throw any light on the state of the revenues of the country, but particularly on those of Ireland, cannot be considered as foreign to this work. Dr. Adam Smith seldom refers to any author who preceded him, but the following passage was most probably borrowed from Bacon: "The security of every society must always depend more or less upon the martial spirit of the great body of the people." Edit. 1793, vol. iii. p. 189. ANNUAL RECEIPTS. * A COMPARATIVE View of the Annual Receipts and Expenditure, National Debt, and Commerce of GREAT BRITAIN and IRELAND, from the Period of the Union, to the year ending 5th January 1811. 9,954,352 2,178,066 40,866,573 3,127,505 50,820,925 30,870,531 3,791,666 36,077,682 3,906,122 66,948,213 7,697,789 5 15 6 8 17 7 7,679,853 5,305,572 5 4 1011 0 2 5,379,936 9,765,465 5,324,709 49,050,485 | 3,516,360 58,815,950 8,841,869 4 18 6 9 9 11 8,828,950 19,607,357 4,941,284 50,612,971 | 3,678,770 70,220,328 8,620,064 6 3 10 9 2 6 8,607,425 17,732,212 4,359,006 56,902,099 12,109,032 2,977,747 58,856,312 4,297,215 74,634,311 | 8,656,221 | 4 14 4 8 2 8 8,635,212 4,769,287 70,965,344 7,746,934 5 1 8 8 8 8 7,730,861 15,465,669 5,389,728 60,354,781 4,802,291 75,820,457 10,192,019 5 2 710 9 610,174,673 413 10 6 8,783,873 14,675,668 4,261,919 62,129,781 4,553,911 76,805,450 8,795,830 5 4 13,242,356 | 5,653,557 66,098,127 3,906,151 79,340,484 9,559,708 5 0 417 1 11 9,540,415 * These Tables are formed from the Returns made annually to Parliament. ANNUAL EXPENDITURE. A COMPARATIVE VIEW of the Annual Expenditure of GREAT BRITAIN and IRELAND, from the Period of the Union, to the Year ending 5th January 1811. 32,123,278 3,921,017 1,862,943 20,940 27,274,409 3,136,148 1,310,686 3,006 40,674,960 5,370,982 69,260,055 8,537,653 8,512,891 28,510,497 3,382,324 1,574,361| 9,890 39,936,855 5,197,218 70,021,713 8,566,165 8,551,055 29,115,904 3,662,914 1,610,562| 8,287 46,609,756 6,028,555 77,336,222 9,536,295 9,515,700 82,027,288 9,874,259 9,864,120 48,041,067 5,986,234 * This account is taken from the Report of the Committee for Public Income and Expenditure of Ireland, ordered to be printed, 14 June 1811, Page 5. NATIONAL DEBT. A COMPARATIVE View of the National Debt, of GREAT BRITAIN and IRELAND, from the Period of the Union, to the year ending 5th January 1811. 1810 1811 699,025,302 81,510,856 157,067,448 10,579,315 541,957,854 70,931,541 48,442,635 684,465 .142,709 * Of Great Britain, exclusive of the Loans raised for the Emperor of Germany and the Prince Regent of Portugal, which now appear annually in the accounts presented to Parliament. a Previous to the Union, the Irish accounts were made up to the 25th of March each year, but in order to assimilate them to the British accounts, they were afterwards made up to the 5th of January. The figures in this line, relating to Ireland, belong to the period from 25th March 1800 to 5th January 1801. These figures are taken from the Accounts presented to the House of Commons, ordered to be printed 21st March 1805, P. 256; but it is necessary to state, that the Debt unredeemed on the 1st February 1805, in this page, differs from the account printed in the Table, page 252, in the same accounts by £.1,000. These figures are taken from the Accounts presented to the House of Commons, ordered to be printed 16th March 1805, p. 310. In the previous Table, the Debt created, and the redemption, which took place in 1807, are stated separately. The redeemed Debt of Great Britain, as stated under this head, is independent of the sum transferred to the Commissioners by Land Tax redeemed, which has been in the first instance deducted from the capital, in order to correspond with the accounts annually delivered to Parliament. The Committee on Accounts and Papers relating to the public Income and Expenditure of Ireland, whose Report was ordered to be printed by the House of Commons on the 14th of June 1811, in their Appendix, p. 34, stated the Funded Debt of Great Britain to be £546,890,361., but in this sum is included £1,228,177.; for different Annuities, which are not comprehended in the total capitals of the public Funded Debt of Great Britain, as annually returned to Parliament. They have also stated the Navy 5-per-Cents. at £65,144,000., whereas in the accounts ordered to be printed 25th March 1811, the amount appears to be £65,144,512. This explanation is necessary to account for the difference between the figures, to which this note refers, and those stated by the Committee. It appears from the Appendix to the Report, that the value of the Funded Debt of Great Britain, at the current prices, on the 1st of June 1811, was £402,352,554. ; but as this includes the value of the different Annuities, it is proper to mention, that the capital of the Funded Debt, as stated by the Committee, was £545,662,184., which at the current prices on the 1st of June 1811, amounted to £882,280,065. This Debt, at the current prices on the 25th May and 1st June 1811, could have been purchased for £51,730,832. British currency, to which must be added, the value of the several Annuities, amounting in toto to £.54,299,488. |