n the peace
establishment is L760,706

The actual interest of the
funded debt, including
that charged on the
sinking fund L2,315,642

The actual interest of
unfunded debt at most 160,000
---------
Total interest of debt
contracted by the war 2,475,642
---------
Increase of peace establishment, and interest of
new debt 3,236,348
---------
Error of the author L878,544

It is true, the extraordinaries of the army have been found considerably
greater than the author of the "Considerations" was pleased to foretell
they would be. The author of "The Present State" avails himself of that
increase, and, finding it suit his purpose, sets the whole down in the
peace establishment of the present times. If this is allowed him, his
error perhaps may be reduced to 700,000_l._ But I doubt the author of
the "Considerations" will not thank him for admitting 200,000_l._ and
upwards, as the peace establishment for extraordinaries, when that
author has so much labored to confine them within 35,000_l._

These are some of the capital fallacies of the author. To break the
thread of my discourse as little as possible, I have thrown into the
margin many instances, though God knows far from the whole of his
inaccuracies, inconsistencies, and want of common care. I think myself
obliged to take some notice of them, in order to take off from any
authority this writer may have; and to put an end to the deference which
careless men are apt to pay to one who boldly arrays his accounts, and
marshals his figures, in perfect confidence that their correctness will
never be examined.[58]

However, for argument, I am content to take his state of it. The debt
was and is enormous. The war was expensive. The best economy had not
perhaps been used. But I must observe, that war and economy are things
not easily reconciled; and that the attempt of leaning towards parsimony
in such a state may be the worst management, and in the end the worst
economy in the world, hazarding the total loss of all the charge
incurred, and of everything along with it.

But _cui bono_ all this detail of our debt? Has the author given a
single light towards any material reduction of it? Not a glimmering. W