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NOTES£º







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3¡£¡¡Hume¡¡£¨in¡¡1603£©¡£¡¡Macpherson£»¡¡Histoire¡¡du¡¡Commerce¡¡£¨in¡¡1651£©¡£







4¡£¡¡See¡¡Ustaritz£»¡¡Théorie¡¡du¡¡Commerce£»¡¡ch¡£¡¡xxviii¡£¡¡Thus¡¡we¡¡see



George¡¡I¡¡did¡¡not¡¡want¡¡to¡¡export¡¡goods¡¡and¡¡import¡¡nothing¡¡but¡¡specie



in¡¡return£»¡¡which¡¡is¡¡stated¡¡as¡¡the¡¡fundamental¡¡principle¡¡of¡¡the



so¡­called¡¡'mercantile¡¡system'£»¡¡and¡¡which¡¡in¡¡any¡¡case¡¡would¡¡be



absurd¡£¡¡What¡¡he¡¡desired¡¡was¡¡to¡¡export¡¡manufactures¡¡and¡¡import¡¡raw



material¡£







5¡£¡¡Hume£»¡¡vol¡£¡¡v¡£¡¡p¡£¡¡39¡£







6¡£¡¡Anderson¡¡for¡¡the¡¡year¡¡1721¡£







7¡£¡¡Priestley£»¡¡Lectures¡¡on¡¡History¡¡and¡¡General¡¡Policy£»¡¡Pt¡£¡¡II£»¡¡p¡£



289¡£







8¡£¡¡These¡¡and¡¡the¡¡following¡¡figures¡¡relating¡¡to¡¡English¡¡statistics



are¡¡taken¡¡from¡¡a¡¡paper¡¡written¡¡by¡¡McQueen£»¡¡the¡¡celebrated¡¡English



statistician£»¡¡and¡¡appearing¡¡in¡¡the¡¡July¡¡number¡¡of¡¡Tait's¡¡Edinburgh



Magazine¡¡for¡¡the¡¡year¡¡1839¡£¡¡Possibly¡¡they¡¡may¡¡be¡¡somewhat



exaggerated¡¡for¡¡the¡¡moment¡£¡¡But¡¡even¡¡if¡¡so£»¡¡it¡¡is¡¡more¡¡than



probable¡¡that¡¡the¡¡figures¡¡as¡¡stated¡¡will¡¡be¡¡reached¡¡within¡¡the



present¡¡decade¡£







9¡£¡¡Before¡¡his¡¡lamented¡¡death£»¡¡the¡¡gifted¡¡author¡¡of¡¡this¡¡remark£»¡¡in



his¡¡Letters¡¡on¡¡England£»¡¡read¡¡the¡¡nobles¡¡of¡¡his¡¡native¡¡country¡¡a



lesson¡¡in¡¡this¡¡respect¡¡which¡¡they¡¡would¡¡do¡¡well¡¡to¡¡lay¡¡to¡¡heart¡£







10¡£¡¡England's¡¡national¡¡debt¡¡would¡¡not¡¡be¡¡so¡¡great¡¡an¡¡evil¡¡as¡¡it¡¡now



appears¡¡to¡¡us£»¡¡if¡¡England's¡¡aristocracy¡¡would¡¡concede¡¡that¡¡this



burden¡¡should¡¡be¡¡borne¡¡by¡¡the¡¡class¡¡who¡¡were¡¡benefited¡¡by¡¡the¡¡cost



of¡¡wars£»¡¡namely£»¡¡by¡¡the¡¡rich¡£¡¡McQueen¡¡estimates¡¡the¡¡capitalised



value¡¡of¡¡property¡¡in¡¡the¡¡three¡¡kingdoms¡¡at¡¡4£»000¡¡million¡¡pounds



sterling£»¡¡and¡¡Martin¡¡estimates¡¡the¡¡capital¡¡invested¡¡in¡¡the¡¡colonies



at¡¡about¡¡2£»600¡¡millions¡¡sterling¡£¡¡Hence¡¡we¡¡see¡¡that¡¡one¡­ninth¡¡part



of¡¡Englishmen's¡¡private¡¡property¡¡would¡¡suffice¡¡to¡¡cover¡¡the¡¡entire



national¡¡debt¡£¡¡Nothing¡¡could¡¡be¡¡more¡¡just¡¡than¡¡such¡¡an



appropriation£»¡¡or¡¡at¡¡least¡¡than¡¡the¡¡payment¡¡of¡¡the¡¡interest¡¡on¡¡the



national¡¡debt¡¡out¡¡of¡¡the¡¡proceeds¡¡of¡¡an¡¡income¡¡tax¡£¡¡The¡¡English



aristocracy£»¡¡however£»¡¡deem¡¡it¡¡more¡¡convenient¡¡to¡¡provide¡¡for¡¡this



charge¡¡by¡¡the¡¡imposition¡¡of¡¡taxes¡¡upon¡¡articles¡¡of¡¡consumption£»¡¡by



which¡¡the¡¡existence¡¡of¡¡the¡¡working¡¡classes¡¡is¡¡embittered¡¡beyond¡¡the



point¡¡of¡¡endurance¡£







11¡£¡¡See¡¡Appendix¡¡A¡£











Chapter¡¡5







The¡¡Spaniards¡¡and¡¡Portuguese







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structure¡¡of¡¡their¡¡national¡¡prosperity¡¡upon¡¡the¡¡most¡¡solid



foundations£»¡¡the¡¡Spaniards¡¡and¡¡the¡¡Po
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