interest of our present debt. I will be bold to say, that there is no man living, wise enough to answer that question in its extent. Experience teaches men; but there is no preceding history or tradition of any State or Nation whatsoever, which can throw sufficient light on that proposition. There never was before in the world, such a debt contracted or subsisting, as the British. Letters and books are older than money; I mean than gold and silver commonly current, and having their weight known by a stamp. But there is no occasion to ransack ancient times on this subject. The discovery of Mexico and Peru, and the possession of them by the Spaniards, is the era from whence we are to date the beginning of the present plenty in Europe of these two precious metals, which command often individuals, and sometimes Commonwealths and Kingdoms. The art of funding was formerly very confined. It is a succession of English Administrations which has carried it to an extent never before known among men. It is a new experiment in a state. There is no example of it in the annals of mankind. We are at a loss where to look for the consequences of such an unprecedented and unheard of deficiency or bankruptcy, as this would prove. However, we cannot but have before our eyes, disorder, anarchy, and confusion; the moneyed interest of the Nation banded against the landed, and the landed against the moneyed; rich moneyed men brought to beggary, and the land drained of the utmost farthing which can be forced from it; every one catching, rending, and providing for the present moment; our manufactures and commerce at a stand; the middling people emigrating out of our country, and the poor in famine or in sedition; foreigners pressing for their demands, and the Dutch particularly, in rage, and almost in madness, for their countless millions trusted and hazarded in our country; perhaps at the same time, our Navy unmanned, and our Army in mutiny for want of pay. Who can withal tell the end: for the debt, the burthen, and the demand, will ever remain. There was a time, when the Romans had formerly withdrawn themselves from this Island, that the possessions became here, through the weakness and helplessness of those remaining, the prize and the prey of all plunderers, pirates, robbers, and conquerors, who came and seized upon them, until that these people themselves, the Danes, the Saxons, and the Normans, replenished and strengthened again the country. Whether the like scenes will on the same spot be once more acted, or what issue awaits us, he only knows in whose hands these events are. But we must necessarily expect that the distant or detached parts of our Empire will fall from us; the stronger and the larger will probably provide for and govern themselves, the weaker and the lesser sink away, or seek another master. I don't at all mean that they have any inclination so to do, where we give no cause or provocation; but the reins of Government will in such a conjuncture, of course, and of themselves, drop out of our hands. No man can tell, whether Great Britain itself might at that time continue in one, or whether it may again be split and divided into two. There have not been wanting endeavours towards that end. I don't now pretend to decide at whose door this principally lies. It is not perhaps one man, or one party only, that is in fault. There have been on one hand, most unjust and cruel persecutions, and a series of the greatest injuries and provocations. High and strong resentments of these are no otherwise than natural and warrantable, nor do I in general mean to arraign those conceived or expressed on this occasion. But the person wronged, must surely, in his cooler and calmer moments, be himself sensible, that they have in one respect been carried to an unreasonable extent. Reflections have been made and continued, where they are totally ungrounded and unmerited. They have hitherto been borne with a national good sense, that brings more honour to the parties, than all the ribaldry in the world can ever do them discredit. But who knows how their effects may be felt in such a time, as is before described? What a situation! Britain, or England, left alone with a debt of a hundred and forty millions sterling on its head! How can any one have before his eyes such an event, and yet run on the road which leads directly towards it?

But all is not yet said which this subject demands. I have hitherto only considered us and our Colonies as engaged between ourselves; not a word has been said of any foreign state meddling in the matter. That is yet behind. We must look upon our Colonies in the light of the Provinces of Holland, when they contended with Spain. The wish, the hand of every man will be against us. I will not enter into a general discourse of politicks, how far it may be for the common good of mankind to split great states into small ones; to divide them into a size fit to profit and benefit others, but not to overbear or distress them. Let us consider the subject by examples familiar to us. Mexico and Peru are more distant from Great Britain, than our Colonies of North America from Spain or France; but were those in a state of defection and separation from the Spaniards, I wonder whether we should find a way to approach them, or to avail ourselves in any manner of that circumstance. France was pretty well plumed in the last war; but nevertheless, were the reviving or beginning settlements of Pondicherry, of Mauritius, and Madagascar, disjoined from it, or its own Continent broken once more into several different parts and separate Governments, would our endeavours contribute to unite them? Should Bata-via, the Spice Islands, and the Cape of Good Hope, revolt from the United Provinces, would not Englishmen try to profit by the conjuncture? I will not touch on the Brazils; that may be a tender point. But would none of all mankind, neither French, or Spaniards, or Dutch, or Portuguese, or Danes, or Swedes, to say nothing of the Russians, or of the new maritime state of Prussia; would none of them all give, directly or indirectly, aid, assistance, encouragement, countenance, or protection, to our Colonies? Would they not trade or traffick with them; would they supply them with nothing wherewith to defend themselves, or to offend us? Is it very practicable to watch and guard such immense Coasts, or do we at home, with all the Navy of England in our Ports, find this so easy, with respect to those only of the two English Counties of Kent and Sussex? Did neither England or France support formerly the seven United Provinces in their breach with Spain? Have the French at this time afforded no essential assistance to the Turks, nor another Nation to the Russians, while each continues at peace with the enemies of their respective friends? Are the independence of the British Colonies in North America, and their disjunction from Great Britain, no object to other Nations; are not they in particular as much so to France, as this Turkish and Russian squabble? Was formerly that Nation ever wanting to Scotland, or insensible of its interest in assisting that division? I don't at all mean hereby to signify any attempts or endeavours of other Governments to take possession of these Colonies, or any inability in them to defend themselves from that circumstance; but I mean the general desire and inclination, which there would assuredly be in all Europe, to see them disjoined from our Nation, and to become absolute, distinct, unconnected, independent States and Governments, in larger or in smaller portions, and more or less like the present States of Holland, as it should happen. Were there in sight such a condition with respect to Mexico and Peru, or the Dutch settlements in the East Indies, would not the English, without insisting on becoming masters themselves thereof, be most abundantly contented with their general advantage arising from the commerce and traffick with them, and from the other circumstances of their independency? It cannot be doubted, but that there will be found a conduct and actions consequent and correspondent to such universal and almost unanimous views and wishes of mankind.

This is all said on a supposition of peace. But what if one or more of the greatest powers in Europe, should, in a most critical and difficult moment, declare war against us? Have France and Spain forgot the loss of Canada and Georgia, and the many defeats and disgraces received in the last contest with us? Have they, for their honour or interest, no desire of revenge, nor that those Provinces should again return to their own Crowns? On whom does it depend whether it shall, in the case supposed, be peace or war? Is this to be determined at London, or at Madrid and Versailles? Is it in the power and in the breasts of ourselves, or of those who are most our rivals, and whose enmity may be said to be hardly yet cooled? Are four years past since we had two alarms? Is one year gone since we had one? Should there now be happily at the head of one or other Government a personage inclined to peace; yet,