“It is raised,” answers Montesinos, “by taxation.” Now, has Mr. Southey ever considered what would {154}be done with this sum if it were not paid as interest to the national creditor? If he would think over this matter for a short time, we suspect that the “momentous benefit” of which he talks would appear to him to shrink strangely in amount. A fundholder, we will suppose, spends dividends amounting to five hundred pounds a year; and his ten nearest neighbours pay fifty pounds each to the tax-gatherer, for the purpose of discharging the interest of the national debt. If the debt were wiped out, a measure, be it understood, which we by no means recommend, the fundholder would cease to spend his five hundred pounds a year. He would no longer give employment to industry, or put food into the mouths of labourers. This Mr. Southey thinks a fearful evil. But is there no mitigating circumstances? Each of the ten neighbours of our fundholder has fifty pounds a year more than formerly. Each of them will, as it seems to our feeble understandings, employ more industry and feed more mouths than formerly. The sum is exactly the same. It is in different, hands. But on what grounds does Mr. Southey call upon us to believe that it is in the hands of men who will spend it less liberally or less judiciously? He seems to think that nobody but a fundholder can employ the poor; that, if a tax is remitted, those who formerly used to pay it proceed immediately to dig holes in the earth, and to bury the sum which the government had been accustomed to take; that no money can set industry in motion till such money has been taken by the tax-gatherer out of one man’s pocket and put into another man’s pocket. We really wish that Mr. Southey would try to prove this principle, which is indeed the foundation of his whole theory of finance: for we think it right to hint {155}to him that our hard-hearted and unimaginative generation will expect some more satisfactory reason than the only one with which he has yet favoured it, namely, a similitude touching evaporation and dew. Both the theory and the illustration, indeed, are old friends of ours. In every season of distress which we can remember, Mr. Southey has been proclaiming that it is not from economy, but from increased taxation, that the country must expect relief; and he still, we find, places the undoubting faith of a political Diafoirus, in his “Iîesaignare, repurgare, et reclysterizare." “A people,” he tells us, “may be too rich, but a government cannot be so.” “A state,” says he, “cannot have more wealth at its command than may be employed for the general good, a liberal expenditure in national works being one of the surest means of promoting national prosperity; and the benefit being still more obvious, of an expenditure directed to the purposes of national improvement. But a people may be too rich.”