[PDF]The budget. : Inscribed to the man, who thinks himself minister

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Robert E. Gross
Collection

A Memorial to the Founder
of the

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Business Administration Library

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Los Angeles


THE


BUDGET


Inscribed to the MAN,


WHO THINKS HIMSELF


MINISTER.


Emendare tuos quamvis Faust ine libellos
Non multa poterunt, una litura pot eft.


The


FOURTH EDITION.


LONDON:

Printed for J. ALMON, oppofite Burlington-Houfe in Piccadilly.

MDCCLXIV.

(Price ONE SHILLING.)


& $ & * « j§* & ac * $ &


THE


BUDGET


K&^yO^ OBSERVE that the adminiflration has conde-
^ ^i^ ^ fcended, by an advertifement in the public papers,
Ss§ ' 5w to explain the Budget to the meanefl capacity ; I
tek feS £ furpofe they are fo proud of their performances,
kJF^s^jW that they think the like was never done before ;
and to be fure the wonders of the Budget muft needs make the
ignorant flare, and admire the tranfcendent talents of the minifiry,
who have advertifed fuch miracles. That the adminiflration
fhould fubmit to fo humiliating a condefceniion, to catch at a little
popular applaufe from the ignorant, is not furprifing; when it is
confidered how very low they are fallen in the public efteem ;
but really they mould at lead have confined themfelves within the
bounds of truth. To fay that they have paid off a great deal of
the debt contracted in the late war, is a mif-reprefentation j that
the eflablifhment of the army is lefs than after the lafl peace, is
not true ; that the finking fund has been encreafed 3 9 1 ,000/. by the
fmuggling cutters upon 1,400,000$. of tea, is falfle, inconfiflent,
and impomble. Yet I mould not think it fair to charge the

B adminiflration


( 4 )

immigration upon news-paper intelligences*, if the fame
doctrines had not been publickly and universally countenanced.

I mall follow the order of this minifterial advertifement, with
a few notes upon the following articles, viz.

Debts paid off.

Eftablifliment of the army.

Eflabliihment of the navy

Encreafe of the cuftoms from the fmuggling cutters.

The anticipation of the finking fund.

This


* The following advertifement was inferted in the news-papers on March 20, 1764.

It is with great pleafure that I congratulate the public on the difappointment
,{ thole, who, by keeping their money from coming to market, by checking
the i'ubfeription of the navy bills, by circulating reports of a loan and a new
lottery, and other arts of the fame kind, hoped to profit by the public diftrels.

The' ftate of the fupplies, and the ways and means for this year, have now
been made public ; but as the exaft fums may not be in every body's hands, 1
thought it might be agreeable to you to be enabled to furn.fh your readers with
an account of°them, which I believe is tolerably corre£l.

Of the unfortunate debt contraded during the lalt war, the government will

this year pay off 2,771,8671. 13s. 6d. viz.

1. s. d.

German extras ' 500,000 o o

Navy debt 650,003 o o

Armv extraordinaries ■ — 9°7>434 15 6

Deficiencies of land and malt 300,000 o o

Dedommagement to the landgrave of HefTe 50,000 o o

Deficiency of fund^ to be replaced to the finking fund — !47o93 l% °

Deficiency of grants for 1763 ^ — — — 129,4.89 o o

Advance in confequence of addrefles — 7*35° ° °

2,771,867 13 6

The peace eftablifhment for the navy, which is the moft conftitutional

force, and the heft fecurity for Great Britain, is much enlarged, amounting to

1,443,568!. lis. gd. the fame number of fcamen being retained in the fervice


(5)

This minifterial advertifer, to have dealt impartially, mould
have let us know that nothing has been done this year, during
the administration of our very laborious Chancellor of the Ex-
chequer, but what always comes of courfe in the routine of office,
and was very fuccefsfully accomplifhed the lad year, by a gentle-
man who never pretended to any great fkill in finances. Army
extraordinaries of the preceding year, dedommagements, de-
ficiencies replaced to the finking fund, deficiencies of the grants
of the preceding year, together with deficiencies of land and
malt, which are fo pompoufly called debts contracted in the late
unfortunate war, are all of them articles provided for as they arife,

aim oft


as was voted laft year, and ioo,oool. more than ufual being employed in fhip-
building, in order to keep our navy on a footing to be refpected by all Europe.

The eftabliihment of the army is not increafed, it is even lefs, and the ftaff
much lefs than at the laft peace ; for though the whole fum is 1,509,313k 14 s.
yet it is to be obferved, that the forces, ordnance, and ftaff in America, are
295,8331. the half-pay lift 158,2501. and Chelfea hofpital, &c. 122,125!.
The two laft articles of which are deducted, being properly the tail of the war.

The miscellaneous articles of expences amount to 295,3541. 2 s. viz.
Government of Nova Scotia — — —

Ditto Weft Florida — — —

Ditto Eaft Florida — —

Dit'o Georgia — — —

Militia — —

African Forts —

Foundling hofpital — — — —

Princefs of Brunfwick's fortune

Subfidy to the court of Brunfwick

British Mufeum 1 ■

Mr. Blake ■ —

General furvey of America — — — -

Paving the ftreets - ■


5>7°3

14

0

5,700

0

0

5.700

0

0

4,031

8

0

80,000

0

0

20,000

0

c

39,000

0

0

80,000

0

0

43,901

0

0

2,000

0
0
0

0

1,818

0

5,000

0

0

295,35+ 2 o

Befides this, the government found 1,800,000 of exchequer bills at fuch a
difcount, as to weigh down with them the whole building of public credit.

This they have provided for, by transferring one million of them to the Bank
for two years, with a reduction of" a fourth part of ihe intereft on them.

The other 800,000 old exchequer bills are to be paid off by iffuing new ones

for the like fum.

So


( 6)
almoft annually from the revolution, and particularly to a much
greater amount the laft year than the prefent. As to the navy
debt, above a million and a half ufed always to be provided for,
during the war, but the laft year, it was all thrown upon the
finkine fund, and by the prefent minifter kept there this year.

But when the current expences between one year and another,
are called by a name that never was thought of for them before,
viz. debts, one would not proflitute a ferious argument for an
anfwer ; the only reply they deferve is the argument ad homines,
to tell them that even according to their own pretentions, they
have not done fo much as their neighbours. However, at all ad-
ventures


So that the whole ftate of the fupply is this

Debt paid — — ■

Exchequer Bills ' '

Eftablifhment for the navy —

Ditto army

Miscellaneous articles > — —


2,771,867

13

6

1,800,000

0

0

1,443,568

11

9

i>5°9>3J3

14

0

295»353

0

0

7,820,102 19 3

To raifethis large neceflary fum, the government hath notopprefled the fubjeft
with ore additional tax: it hath not encouraged the fpirit of gaming by accepting
a lottery, or taking to itfelf the not unpleanng power of difpoiing of tickets,
commifiions, and fubferiptions.

It has avoided going to market for money, at a time, when, though it might
have been advantageous to individuals, it muft have been very detrimental to the
public.

The ways and means are faid to be thefe ;

Land-tax and malt * ' '

Exchequer bills taken by the Bank -•■ ■ —

New Exchequer bills to be iffued . — ;

Of the bank for the renewal of their contract, which is by

much the mofr, beneficial bargain for the public which was

ever made with them ■ ■ -


Savings under the head of extras — — .

Militia money —

Annuity fund, i}6i ■ ' — — —

To this account, and for the public fervice, the prefent
government has brought to account what had fo long been un-
accounted for, fo long a difgrace to the fervice, and the
reproach of adminiftration, vi%.


2,750,000

0

0

1,000,000

0

0

800,000

0

0

110,000

0

0

165,558

3

0

150,000

0

0

3>497

9

9

The


(?)

ventures we have a right to expect, that thofe who boaft of having
difcharged a large portion of the unfortunate debt, will leave no
debts or deficiencies, on account of the fervice of that very year
when they make this boaft ; yet I fear the minifter (whoever he
may be in October) will find the finking fund half a million in
arrear. We are fure he will have 800,000 of exchequer bills
iillied in this fefllons,to provide for next winter : and the minifter
in the year 1766 will have to difcharge, the million advanced by
the bank to the prefent minifter, for the feivice of this miraculous
year.

Our panegyrift has chofen but ill to afcribe fuch ridiculous
pretenfions of merit to his patron, while he has under this
very head of debts paid off, left unnoticed the only truant ray of
ceconomy that has wander'd from the exchequer. The
army extraordinaries verified and allowed this year amounted
10987,434/. 1 5 s. 6 d. T-rths. Now fome other flovenly mi-
nifter would have indifcreetly thrown in the odd -Vths of a far-
thing, to have made a round fum, without dreaming of this


The faving of non-effective men, which in the prefent year is 140,000
To this the bounty of the king, who having delivered his
fubjecls from the calamities, thus fhews his earneft wifh to
deliver them from the burthen of the war, has added, be-
ing the produce of the French prizes taken before the de-
claration of war "■ - " 700,000
The king has freed the public from the expence of all the
new governments except that of the Floridas (N. B. By giv-
ing them up.)

And to make up the deficiency, the government has taken,
with peculiar propriety, from the finking fund (which was
increafed this year 391,000k byan addition of 1,400, ooolb.
of tea, having, by means of the cutters, been brought to
pay the duty) the furplus of that fund is ■■ 2,000,000


So the total of the ways and means is — — 7,817,055 12 9

The total of fupply 7,820,002 rg 3

It is true, that the whole fupply is faid to be 7,820,1041. 15s. iod. and by
this account it amounts only to 7,820,102!. 19s. 3d. But as this deficiency-
is not quite 2I. and proceeds from the omiflion of fome millings in the larger'
fums, which were omitted at the time of taking them down, it is fufficient to
have mentioned it only.

C hair-


I s )
hair-breadth efcape from bankruptcy 5 but happily for us, our
vigilant administration, upon this emergency fummoned ail
hands aloft, and with aftonifhing labour, ceconomy, expertnefs
in fractions, and higgling with a fiquis for -Vths of a farthing,
have difcharged an immenfe load of debt, and redeemed their
country from bankruptcy. The faving of courfe goes to the
finking fund, which, upon the ftrength of it, is mortgaged for
two millions.

When this great boafting is made of debts paid off, it only
fores to remind us of what more able minifters have done, and
thereby to make the pretenfions of the prefent admini fixation the
more ridiculous. If a minfter would acquire the merit of pay-
ing off the debt, it mud be done either by improving the re-
venue, or by leffening the intereft of the debt. Sir Robert
Walpole improved the revenue in many branches, and would
have done it in more; he fettled the funds, and reduced
intereft, fo as to get a finking fund, which during his ad mini-
fixation produced above 2o,occ,ooo/. with part of this he
reduced the national debt, and with the remainder he pro-
vided for fuch extra-fervices, as mull otherwife have created
new debts, or have kept the land-tax at four millings in the
pound. Mr. Pelham encreafed the revenue by judicious re-
gulations upon many branches, and added 600,000/. a year to
the finking fund by the reduction of intereft.

Now let us fee what modern minifters have done ; the flocks
have fallen 10 per cent, under their adminiftration ; (though they
rife upon every rumour of a change) fo that there is no chance of
any reduction'; and the finking fund was diminished 250,000/.
annum the laft year, which defect: the minifter of the
prefent year has adopted, inftead of applying a remedy ; fo that
their handy work has been, to raife the rate of intereft, and to
impair the finking fund, inftead of railing the linking fund and
lowering intereft. Oh ! but they fay, former minifters had a
large fcope, but every fund of improvement is exhaufted now;
I reply, that the fame fuperiority of talents and labour, which

fet


( 9)

fet Sir Robert Walpole and Mr. Pelham above their perfonal ri-
vals, in their own times, would have held in deriiion the little
pride and vain boafting, of modern temporary minifrers, who
think to rival their fame. Befides, it is very apparent that modern
minifters take a malicious delight in dwelling upon the public
calamities and diftrefs arifing from the war, and infulting their
country under them, in revenge for our having put the conduct
of public meafures into other hands than theirs -3 thinking that
when the next war breaks out, we mall juft have fmarted enough
for the glories that are pair, to make us lefs refractory under
their future ignominious admin iteration.

As to the eflablifhment of the army, that is not a queftion of
pence and farthing?, but a ftate queftion of fecurity at home and
dignity abroad j therefore I do not infill: any farther upon the argu-
ment, tharthe expence of the army this year is 1,50, ,000, whereas-
upon the average of the late peace it was but 1,260,000, than to
fuggefl that the minifter has no right to fay it is ltfs. An over-
proportion of officers to men upon the ellablifhment, is certainly
the true policy for a country which has concluded a peace hollow
and unlikely to be permanent. This doctrine I know is favourable
to minifters ; but thofe minifters who do not think this country,
to be in peril of another war, have no right to that argument ;
and therefore they ftand convicted of approving it, becaufe it
enlarges their patronage with more commiliions to beftow; es-
pecially fuch of them as have at any time fhewn reluctance to a
plan of advancing to each vacant commiflion from the half-pay ;
or have advifed the difmiffion of officers, without imputation
upon their military conduct,

But much merit is claimed from the expence bellowed upon
the navy by a great number of men employed in the Smuggling
cutters. Now I confeis, to me it feems, that however confti-
tutional a large marine may be, we run lefs rifque by a more
moderate provifion there, becaufe failors difmiiTed from the pub-
lic fervice do ftill continue failors, in the merchant fervice, and
are always ready at hand when a war breaks out. But let

me


( io )

me afk whether a little attention would not be well-beftowed
upon our Chips themfelves, which, if left to decay, are not fo
ealily recovered, as our failors are from the merchant fervice.
Perhaps it might be as well if the profits of the iiland of St. John
were to be applied to the repairs of mips (which I am told arc
<*oing to decay in a lamentable manner) as ibliciting it in a private
'^rant.

With regard to the fmuggling cutters, I cannot allow
them much merit as providing employment for iailors, who
would otherwife be employed in the merchant fervice, with-
out any expence to the public, more efpecially as the fmugg-
ling fervice itfelf is liable to fome difcreditable fuggefrions ; and
for meritorious officers, it is equally to be confidered, that the
fervice is not of the moil honourable kind : But it is very plain
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