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The finking fund, taken for
more than it will produce, cre.
per cent. to 3 per cent.
920,695 Deficiency of funds for 1783, by
the intereft running before the taxes commence, or at
least can be made productive, - 350,000 Deficiency of grants for 1782, 200,000 Interest on Exchequer bills, 315,014 Exchequer bill office To the Bank of England, for receiving the loan, &c.
10,669 To discount on prompt Payment of the loan,
4,921,988 Total new debt, that must be contracted if the war continues during 1783,
f. 18,021,988 Interest on 18 millions only, at 6 per cent. $. 1,080,000 Charges at the Bank on 18 millions, nearly
11,000 Total additional annual burthen on the pubJic (if the war continues) on the sth of January, 1784,
f. 1,091,000 Capital debt on the 5th of January, 1783, was f. 750,040,000 Addition, if the war continues during 1783, 18,021,988
Total capital debt on the 5th of January, 1784, £. 268,061,988
Interest payable to the creditors on the 5th
of January, 1783, Additional interest for debt contracted, if
the war continues for 1783,
public, if the war continues for 1783,
£. 16,229,311 Which, on the most probable fuppofition, that the public revenue cannot on a permanency, and average of years, be brought to exceed twelve millions net annually; the creditors, in that case, in place of 10,729,3ul. will receive annually only 6,500,000l. or 12s. id. in the pound.
The foregoing accounts mult certainly strike every thinking mind with astonilhment, and apprehenfion for the consequences. They are, indeed, more like unto the feverish dreams of mad speculation, than unto the real unexaggerated state of the finances of a wise, enquiring, philosophical people. And, in truth, withoat fome one or other of the illustrious competitors for the management of the treasures of this opulent country have, amongft their other great acquirements, of which we hear so much, got poffeffion of the grand fecret, the great work, the Pbilofopber's Stone, (and I do not know that any of them have as yet urged that plea,) I cannot see how they are to go on. Ridicule may, perhaps, do more, at leaf I am fure it cannot do less, than serious admonition has done.
Avarice and credulity may promise any thing, en extravagant terms being offered ; but, in the event of public misfortune, or even on the change of the caprice of public opinion, how are they to make good their promises ? If they fail in time of war, the worst of ruins, anarchy enfues. In time of peace, the public not being able to completely fulfil their engagements to their . creditors, will be a great calamity; but will not, I hope, endanger the safety of the state. Indeed, most of the few public creditors who look beyond the price of the day, fee that this last event must necessarily happen soon. The funds are now kept up at the rates they are at, only by an idea fo generally prevalent, that peace mut be at hand, becaufe we are no longer able to go on with the war ; and consequently, as has generally, bappened on a peace, there will be a great rise in the value of government fecurities, which every-body hopes, by felling out to profit by ; not refleđing, that if all croud to market with their stock at one time, the quantity on sale exceeding, as it needs muft, the demand, the price cannot advance.
A TUTOR's Account of the Family in wbich be was engaged,
and-of his PUPIL's Course of Studies.
Y father bred me to the study of letters, and, at his check my industry in the parsuit of knowledge, but more than fufficient to secure me from servile dependence.
Through the interest of his friends, I obtained an honourable and lucrative office ; but there were certain arrangements to be made, which delayed my admission to it for a twelvemonth. While I was considering in what way I might best fill up this interval of life, an acquaintance of mine requested, as a particular favour, that I would be tow the year which I could call mine, in reading with the only son of che rich Mr. Flint. The conditions offered were uncommonly advantageous, and such as indeed flattered the vanity of a young man.
For understanding my story, it is not improper to describe the characters of the family into which I was received with so many marks of favour and distinction.
Rowland Flint, Esq; was born of poor, but honest parents. They made a hard shift to have him instructed in reading, and even in writing and arithmetic, and then they left him to find his way through the world as he best could. The young man, like a philosopher, carried about with him all that was cruly his own, his quill and his ink-horn. He attached himself to one of the subordinate departments of the law, in which his drudgery was great, and his profits were scanty. After having toiled for many years in this humble, contented, and happy vocation, he was suddenly raised to opulence by the death of an uncle.
This uncle went abroad at a very early period of life, with the fixed resolution of acquiring a competency, and then of enjoying it at home. But that competency, which filled up the ineasure of the ambition of a bare Scotch lad, proved far short of the defires of an eminent foreign merchant. He imperceptibly became “ in easy circumstances, well in the world, of great credit, a man to be relied on, and be advised with, and cven one superior to all shocks, calls, and runs."
While engaged in making his fortune, he thought it needless to enquire after his poor relations, whom he could not aslift ; and, after he had made his fortune, he thought it equally needless, as he was to see them fo foon in Scotland. Yet, a multitode of unforeseen obstacles retarded his return : some new mortgage was to be settled, some company concerns to be wound up, or some bottomry account to be adjusted ; and thus year glided along after year, till, at length, death surprized him at the age of threescore and ten.
Bufied in making money, he had never bestowed a thought on providing an heir to it : that he left to the impartial determination of the laws of his country ; and, dying intestate, he was succeeded by his nephew, Rowland Flint.
This gentleman, on his becoming rich, discovered himself to be eminently skilled in the science of law; the study, as he
boasted, of his earlier years ; and this knowledge engaged him in three or four law-suits, which the court uniformly determined againft him, with cofts.
But, of every other science, he honestly avowed his want of knowledge, and he did not even pretend to underitand painting or politics ; but he had a mighty veneration for literature and its professors, and he was resolved to make his fon a great scholar, although it should stand him in ten thousand pounds sterling.
My pupil is in his fifteenth year. They had taken him from school before it was discovered that his proficiency in literature did not qualify him for college ; and it became my talk to bring him forward ; that is, to teach him what he ought to have known already
The youth is of a docile disposition, and of moderate talents; his memory good, and his application such as is generally to be found among those who, having no particular incentives to study, perform their tasks merely as tasks.
I have little to say concerning his mother : her mind was wholly absorbed in the contemplation of her husband's riches, and in the care of her son's health and her own. Baron Biel.. field, an eminent German author, observes, that in our island there is a disease called le catch-cold, of which the natives are exceedingly apprehensive. Mrs. Flint lived under the perpecual terror of that disease.
Being thus rendered incapable of the active duties of housekeeping, the committed them to her brother, captain Winterbottom, who, as he was wont to say, “ could bear a hand at any thing.” But his chief excellence lay in the conduct of the nation, and of the stew-pan. He had long commanded a vessel in the Baltic trade; and it having been once employed as a transport in the service of government, he affected to wear a cockade, and withed to have it understood that he belonged to the navy. The captain had dealt occasionally in borough politics, belonged to several respectable clubs in London, and was one of the original members of the Robin Hood fcciety.
The last of the family that I shall mention, is Miss Juliana Winter bottom, a maiden sister of Mrs. Flint. Her original name was Judith ; but when the arrived at the years of difcretion, she changed it to Juliana, as being more gentee!.
Many years ago, Lady - was advised to pass a winter at Nice, for the recovery of her health, worn out by the vigils and dilipation of a London winter; and the easily prevailed on Miss Juliana to go as her companion. The heat of the clia mate, and the cold blatts from the Alps, foon completed what
the corrupted air of good company, and the damps from the Thames, had begun, and Lady L lived not to re-see her British physicians.
Miss Juliana, on her return home, passed by the castle of Fernay, and got a peep at Voltaire, in his furred cap and night: gowo. At Paris, she chanced to be in company with Count Buffon for half an hour ; and she actually purchased a volume of music, writter by the great. Rousseau himself. Having thus become acquainted with the foreign literati, the commenced a fort of literata in her own person. She frequently advances those opinions in history, morals, and phyfics, wbicb, as the imagines, are to be found in the writings of the French philosophers. But, whether through the habits of education, or through conscious ignorance, it must be confessed that he dog. matizes with diffidence, and is a very stammerer in infidelity.
Having seen Paris, and having picked up a good many French words in the course of her travels, the thinks that lie is authorised, and, in some fort, obliged to speak French. No thing can be more grotesque than her travelled language. When she left Scotland, ber fpeech (to use a phrase of Lord Bacon) was in the full dialect of her nation." At Nice the conversed with English and Irich ; and, by imitating the language of each, she has, in her pronunciation, completed the union of the three kingdoms. But fill her own country language predo minates ; for, during her residence abroad, she had an opportunity of preserving, and even of improving it, by daily conferences with the house-maid, wbo was born and educated in the county of Bamff.
In pronouncing French, the blends the tone of all those dia, lects and her phraseology is as fingular as her pronunciation; for the faithfully translates every word from her mother tongue. An example of this pretents itself, which I shall never forget One day, addressing her discourse to me, she said, he doute pa que vous avez perusé les ouvraiges de Mong feer le Counte do Bouffon ; que un charmaing creature ! il met philofopbes et divins par les creilles. That is, " I doubt not that you have read the works of Count Buffon ; what a charming creature ! He fets philosophers and divines by the ears," I answered her, that I had never read the works of that renowned author, but that I had read the Principia of Sir Isaac Newton. " Why, indeed, (replied fhe,) Sir Isaac may have been a man of better principles, but affbeurement the theories of the Count are wittier."
It is a happy circumstance, that Miss Winterbottom did not inake the grand tour. Had the visited Italy, she would have proved as great an adept in ftatuary, and in painting, as the is