tatement; but, with
regard to our enemies, hope is the cause of their magnifying the effect
of our national debt, and, it must be allowed, that hope had seldom
ever a more easy business to perform. The general conclusion is
certain, and all the question that remains, is with respect to time.

The only mode of putting an end to this hope of our enemy, and to the
war, at once, will be by shewing that enemy _that it is quite out of his
power to augment our debt_, but untill =sic= a method shall be
adopted by [end of page #244] us, that is PRACTICABLE AND
EASILY UNDERSTOOD, that will not be believed by our enemy.

The rapidity of the operation of a sinking fund is easily calculated, but
not so easily credited, particularly by people not inclined to do so, and
who would not themselves have the constancy and self-denial to leave
it time to operate. Besides, by this operation, we shall not get free of
debt till the taxes are raised far above their present amount. Our
enemies may be pardoned for believing it impracticable, particularly
as many of our friends are of the same opinion.

France, which has always been the rival of this country, and hates it
now more than ever, (envy being now an ingredient of its hatred,)
knows well that it is fallen and degraded, that it has less wealth and
happiness than England; but then it considers, that, however bad its
finances may be, they are getting no worse; that to continue the war
for twenty years will bring no more ruin on the nation, while half the
term would probably ruin us. Till we show the fallacy of this
calculation, we cannot expect a durable peace. Our ruin is become an
object, not only of ambition, but of necessity, as it were, to France;
and nothing but despair of being able to accomplish their object will
make them abandon the attempt.

We must be permitted here to ask a few questions:

Is not the time favourable for the plan here proposed?

Would it not be fair in its operation?

Would it not bring relief effectually and speedily?

Would it not reduce our burthens, without breaking faith with the
creditors of the state?

Would it not reduce the interest, without setting too much capital
afloat, that might leave the country?

Could our enemies then calculate on the national debt destroying
England?

The affairs of nations, it has been observed, become so complicated,
and the details so multiplied, that those who have the management of
them are scarcely equal to