would find their wealth greatly augmented, which would be one of the
most unfortunate effects that could well be conceived, and might very
soon bring about a very serious and disagreeable event.

In the course of investigating the national debt of England, in the
Fourth Book =sic--there is none.=, it will be necessary to examine this
at length, but, there it will be attended with another circumstance, not
one of general consideration; (as national debt is not any general or
necessary appendage to a government) namely, the letting loose a
great monied capital, which must either be employed here, or it will
seek employment in another country, which may rise on the ruin of
this.

In considering the reduction of taxes that have been long standing, and
have risen to a great amount, there is certainly reason to fear evil
consequences, though this is no argument in favour of taxation; on the
contrary, it is a reason for avoiding it, for, it is in all cases dangerous
to do what it will be attended with danger to undo.

Though the precise case of taxes being done away may never come
before us, there is, at this time, an operation going on that is nearly
similar, and the result of which will soon be known.

The French people were loaded with nearly twenty-five millions
sterling annually to the church, and they do not now pay three. This,
indeed, was partly in taxes, and part in church-lands; they have also
got rid of a great deal of rent, by the sale of emigrant estates, the lands
have got into the hands of men, who mostly cultivate them
themselves, and have no rent to pay.