heavy burthen upon the country, in proportion to the extent and length of time that it is carried on. It creates so many useless members of the community: every man paid by the war out of the taxes paid by the people, is, in fact, a dead body fastened to a living one, that by its weight drags it to the earth. A five and twenty years' war, and nine hundred millions of debt, are really a couple of millstones round the neck of a country, that must naturally press her down a little in the scale of prosperity. That seems to be no riddle. We defy any sophist to answer this statement of the necessary tendency of war in its general principle to ruin and impoverish a country. We are not to wonder, when it does so; but when other causes operate to counteract or retard this tendency. What is extraordinary in our own case is, that the pernicious effects of war have been delayed so long, not that they have come upon us at last.[1]—That money laid out in war is thrown away is self-evident from this single circumstance, that government never refund. The reason is, because they never do any thing with their money that produces money again. They are the worst bankers in the world. The Exchequer is a true Sinking Fund. If you lend money to a farmer, a manufacturer, a merchant, he employs it in getting something done, for which others will pay, because it is useful; as in raising corn, in weaving cotton, in bringing home sugar or tobacco. But money sunk in a war brings in no returns—except of killed and wounded. What will any one give the government for the rotten bones that lie buried at Walcheren, or the dry ones at Waterloo? Not a six-pence. They cannot make a collection of wooden legs or dangling sleeves from the hospitals at Greenwich or Chelsea to set up a raffle or a lottery. They cannot bring the fruits of the war to auction, or put up the tottering throne of the Bourbons to the best bidder.
- ↑ We are somewhat in the situation of Captain Macheath in the "Beggar's Opera." "The road had done the Captain justice, but the gaming-table had been his ruin." We have been pretty successful on the high seas; but the Bank have swallowed it all up. The taxes have outlived the war, trade, and commerce. They are the soul, the immortal part of the Pitt system.
