neither
more nor less than the additional capital for which the public stands
engaged, and is just the same whether five or five hundred years'
annuity has been paid for it. In private life, no man persuades himself
that he has borrowed 200_l._ because he happens to have paid twenty
years' interest on a loan of 100_l._

[59] See Smart and Demoivre.

[60] Pages 30-32.

[61] In a course of years a few manufacturers have been tempted abroad,
not by cheap living, but by immense premiums, to set up as masters, and
to introduce the manufacture. This must happen in every country eminent
for the skill of its artificers, and has nothing to do with taxes and
the price of provisions.

[62] Although the public brewery has considerably increased in this
latter period, the produce of the malt-tax has been something less than
in the former; this cannot be attributed to the new malt-tax. Had this
been the cause of the lessened consumption, the public brewery, so much
more burdened, must have felt it more. The cause of this diminution of
the malt-tax I take to have been principally owing to the greater
dearness of corn in the second period than in the first, which, in all
its consequences, affected the people in the country much more than
those in the towns. But the revenue from consumption was not, on the
whole, impaired; as we have seen in the foregoing page.

[63]
Total Imports, value, Exports, ditto.
1752 L7,889,369 L11,694,912
1753 8,625,029 12,243,604
1754 8,093,472 11,787,828
--------- ----------
Total L24,607,870 35,726,344
24,607,870
----------
Exports exceed imports 11,118,474
----------
Medium balance L3,706,158
----------

Total Imports, value, Exports, ditto.
1764 L10,818,946 L16,104,532
1765 10,889,742 14,550,507
1766 11,475,825 14,024,964
----------- -----------
Total L32,685,513 44,740,003