With the eleventh year of the commonwealth, the term of the excise, allotted for the maintenance of the Senate and the people and for the raising of a public revenue, expired. By which time the Exchequer, over and above the annual salaries, amounting to £300,000 accumulating every year out of £1,000,000 income, £700,000 in banco, brought it with a product of the sum, rising to about £8,000,000 in the whole: whereby at several times they had purchased to the Senate and the people £400,000 per annum solid revenue; which, besides the lands held in Panopea, together with the perquisites of either province, was held sufficient for a public revenue. Nevertheless, taxes being now wholly taken off, the excise, of no great burden (and many specious advantages not vainly proposed in the heightening of the public revenue), was very cheerfully established by the Senate and the people, for the term of ten years longer, and the same course being taken, the public revenue was found in the one-and-twentieth year of the commonwealth to be worth £1,000,000 in good land. Whereupon the excise was so abolished for the present, as withal resolved to be the best, the most fruitful and easy way of raising taxes, according to future exigencies. But the revenue being now such as was able to be a yearly purchaser, gave a jealousy that by this means the balance of the commonwealth, consisting in private fortunes, might be eaten out, whence this year is famous for that law whereby the Senate and the people, forbidding any further purchase of lands to the public within the dominions of Oceana and the adjacent provinces, put the agrarian upon the commonwealth herself. These increases are things which men addicted to monarchy deride as impossible, whereby they unwarily urge a strong argument against that which they would defend. For having their eyes fixed upon the pomp and expense, by which not only every child of a king, being a prince, exhausts his father’s coffers, but favorites and servile spirits, devoted to the flattery of those princes, grow insolent and profuse, returning a fit gratitude to their masters, whom, while they hold it honorable to deceive, they suck and keep eternally poor: it follows that they do not see how it should be possible for a commonwealth to clothe herself in purple, and thrive so strangely upon that which would make a prince’s hair grow through his hood, and not afford him bread. As if it were a miracle that a careless and prodigal man should bring £10,000 a year to nothing, or that an industrious and frugal man brings a little to £10,000 a year. But the fruit of one man’s industry and frugality can never be like that of a commonwealth; first, because the greatness of the increase follows the greatness of the stock or principal; and, secondly, because a frugal father is for the most part succeeded by a lavish son; whereas a commonwealth is her own heir.