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NOTES£º
1¡£¡¡Hume£»¡¡vol¡£¡¡ii£»¡¡p¡£¡¡143¡£
2¡£¡¡No¡¡doubt¡¡the¡¡decrees¡¡prohibiting¡¡the¡¡export¡¡of¡¡wool£»¡¡not¡¡to
mention¡¡the¡¡restrictions¡¡placed¡¡on¡¡the¡¡trade¡¡in¡¡wool¡¡in¡¡markets
near¡¡the¡¡coast£»¡¡were¡¡vexations¡¡and¡¡unfair£»¡¡yet¡¡at¡¡the¡¡same¡¡time¡¡the
operated¡¡beneficially¡¡in¡¡the¡¡promotion¡¡of¡¡English¡¡industry£»¡¡and¡¡in
the¡¡suppression¡¡of¡¡that¡¡of¡¡the¡¡Flemings¡£
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
¡¡¡¡¡¡¡¡Whilst¡¡the¡¡English¡¡were¡¡busied¡¡for¡¡centuries¡¡in¡¡raising¡¡the
structure¡¡of¡¡their¡¡national¡¡prosperity¡¡upon¡¡the¡¡most¡¡solid
foundations£»¡¡the¡¡Spaniards¡¡and¡¡the¡¡Po
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