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But this not being the case with her, she is obliged to borrow about ten millions pounds sterling, yearly, to prosecute the war that she is now engaged in, (this year she borrowed twelve) and lay on new taxes to discharge the interest; allowing that the present war has cost her only fifty millions sterling, the interest thereon, at five per cent., will be two millions and an half; therefore the amount of her taxes now must be fourteen millions, which on an average is no less than forty shillings sterling, per head, men, women and children, throughout the nation.Now as this expense of fifty millions was borrowed on the hopes of conquering America, and as it was avarice which first induced her to commence the war, how truly wretched and deplorable would the condition of this country be, were she, by her own remissness, to suffer an enemy of such a disposition, and so circumstanced, to reduce her to subjection.

I now proceed to the revenues of America.

I have already stated the number of souls in America to be three millions, and by a calculation that I have made, which I have every reason to believe is sufficiently correct, the whole expense of the war, and the support of the several governments, may be defrayed for two million pounds sterling annually; which, on an average, is thirteen shillings and four pence per head, men, women, and children, and the peace establishment at the end of the war will be but three quarters of a million, or five shillings sterling per head.Now, throwing out of the question everything of honor, principle, happiness, freedom, and reputation in the world, and taking it up on the simple ground of interest, I put the following case:

Suppose Britain was to conquer America, and, as a conqueror, was to lay her under no other conditions than to pay the same proportion towards her annual revenue which the people of England pay: our share, in that case, would be six million pounds sterling yearly.Can it then be a question, whether it is best to raise two millions to defend the country, and govern it ourselves, and only three quarters of a million afterwards, or pay six millions to have it conquered, and let the enemy govern it?

Can it be supposed that conquerors would choose to put themselves in a worse condition than what they granted to the conquered? In England, the tax on rum is five shillings and one penny sterling per gallon, which is one silver dollar and fourteen coppers.Now would it not be laughable to imagine, that after the expense they have been at, they would let either Whig or Tory drink it cheaper than themselves?

Coffee, which is so inconsiderable an article of consumption and support here, is there loaded with a duty which makes the price between five and six shillings per pound, and a penalty of fifty pounds sterling on any person detected in roasting it in his own house.There is scarcely a necessary of life that you can eat, drink, wear, or enjoy, that is not there loaded with a tax; even the light from heaven is only permitted to shine into their dwellings by paying eighteen pence sterling per window annually; and the humblest drink of life, small beer, cannot there be purchased without a tax of nearly two coppers per gallon, besides a heavy tax upon the malt, and another on the hops before it is brewed, exclusive of a land-tax on the earth which produces them.In short, the condition of that country, in point of taxation, is so oppressive, the number of her poor so great, and the extravagance and rapaciousness of the court so enormous, that, were they to effect a conquest of America, it is then only that the distresses of America would begin.Neither would it signify anything to a man whether he be Whig or Tory.The people of England, and the ministry of that country, know us by no such distinctions.What they want is clear, solid revenue, and the modes which they would take to procure it, would operate alike on all.Their manner of reasoning would be short, because they would naturally infer, that if we were able to carry on a war of five or six years against them, we were able to pay the same taxes which they do.

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.

And four hundred thousand pounds for the support of the several state governments- the amount will then be: For the army 1,200,000 L.

Continental expenses at home and abroad400,000Government of the several states 400,000Total 2,000,000 L.