When so many different relations are taken in, the subject becomes much more complex, and therefore the consequences _which can only be guessed at_ must be less determinate: but on the other hand, it opens the mind, and suggests many hints which with time may be improved for the good of society. People who barely relate political facts, only afford an exercise to the memory: those who deduce principles, and trace a chain of reasoning from them, give exercise to the understanding; and as a small spark may raise a mighty flame, so a hint thrown out by a slender genius may set all the great men of a nation on a plan of general reformation and improvement. Let us now take a view of the state of public credit in England, at the peace of Ryswick; in order to shew how Davenant came to be so great an enemy to long funds, and more especially to perpetual interest. We shall at the same time point out from what causes the great change of sentiments at present proceeds. At the peace of Ryswick, the debts of England, according to Davenant, in his fifth discourse upon the public revenues and trade of England, stood at 17 552 544_l._ sterling; call it 17 millions and a half, as we have no occasion to calculate with exactness. Of this debt the capital of 3½ millions was sunk, as he calls it; because 1 300 000_l._ was on lives at 14 _per cent._ and what was over to make up the 3½ millions, was intended to remain a perpetual burthen on the nation. For paying the interest of this sum, no less than 400 000_l._ a year was necessary, which makes on the whole above 11 _per cent._ But then it must be observed, that more than one third of the sum was upon lives at 14 _per cent._: the debt due to the bank, of which we have spoken in another place, was 1 200 000_l._ for which was paid 100 000_l._ a year, including 4000_l._ allowed for the charge of management: the remaining million was upon lottery tickets, bearing about 8 _per cent._ the price at which the bank had lent. The second branch of debts was near 11 millions, which, he says, were in course of payment; because they were secured upon branches of revenue engaged for discharging them. A part of this class of debts was to be extinguished in the year 1700: and whenever that was done, then a proportion of the appropriated taxes, amounting yearly to above a million sterling, was immediately to be taken off. The third class of debts were those not provided for at all; which in the place referred to, he makes to amount to no more than 3 200 000_l._ but he afterwards finds his mistake, and that they in fact amounted to above 5 millions and a half, which makes the debts of England at the peace of Ryswick, to have been near 20 millions.