Thus, in
Great Britain, some of our establishments are apt for the support of
credit. They stand therefore upon a principle of their own, distinct
from, and in some respects contrary to, the relation between prince and
subject. It is a new species of contract superinduced upon the old
contract of the state. The idea of power must as much as possible be
banished from it; for power and credit are things adverse, incompatible;
_Non bene conveniunt, nec in una sede morantur_. Such establishments are
our great _moneyed_ companies. To tax them would be critical and
dangerous, and contradictory to the very purpose of their institution;
which is credit, and cannot therefore be taxation. But the nation, when
it gave up that power, did not give up the advantage; but supposed, and
with reason, that government was overpaid in credit, for what it seemed
to lose in authority. In such a case to talk of the rights of
sovereignty is quite idle. Other establishments supply other modes of
public contribution. Our _trading_ companies, as well as individual
importers, are a fit subject of revenue by customs. Some establishments
pay us by a _monopoly_ of their consumption and their produce. This,
nominally no tax, in reality comprehends all taxes. Such establishments
are our colonies. To tax them would be as erroneous in policy, as
rigorous in equity. Ireland supplies us by furnishing troops in war; and
by bearing part of our foreign establishment in peace. She aids us at
all times by the money that her absentees spend amongst us; which is no
small part of the rental of that kingdom. Thus Ireland contributes her
part. Some objects bear port-duties. Some are fitter for an inland
excise. The mode varies, the object is the same. To strain these from
their old and inveterate leanings, might impair the old benefit, and not
answer the end of the new project. Among all the great men of antiquity,
_Procrustes_ shall never be my hero of legislation; with his iron bed,
the allegory of his government, and the type of some modern policy, by
which the long limb was to be cut short, and the short tortured into
length. Such was the state-bed of uniformity! He would, I conceive, be a
very indifferent farmer, who complained that his sheep did not plough,
or his horses yield him wool, though it would be an idea full of
equality. They may think this right in rustic economy, who think it
available in the politic:

Qui Bavium non odit, amet tua carimna, Mae