The History of England, from the Accession of James II — Volume 5 — John Shaqi
The History of England, from the Accession of James II — Volume 5Macaulay, Thomas Babington Macaulay, Baron
History
The History of England, from the Accession of James II — Volume 5
Macaulay, Thomas Babington Macaulay, Baron
Great Britain -- History -- James II, 1685-1688; Great Britain -- History -- William and Mary, 1689-1702
The hearts of many stout Whigs doubtless bled at the thought of what
Fenwick must have suffered, the agonizing struggle, in a mind not of
the firmest temper, between the fear of shame and the fear of death,
the parting from a tender wife, and all the gloomy solemnity of the
last morning. But whose heart was to bleed at the thought that
Charles Duncombe, who was born to carry parcels and to sweep down a
counting-house, was to be punished for his knavery by having his income
reduced to eight thousand a year, more than most earls then possessed?
His judges were not likely to feel compassion for him; and they all had
strong selfish reasons to vote against him. They were all in fact bribed
by the very bill by which he would be punished.
His property was supposed to amount to considerably more than four
hundred thousand pounds. Two thirds of that property were equivalent to
about sevenpence in the pound on the rental of the kingdom as assessed
to the land tax. If, therefore, two thirds of that property could have
been brought into the Exchequer, the land tax for 1699, a burden most
painfully felt by the class which had the chief power in England, might
have been reduced from three shillings to two and fivepence. Every
squire of a thousand a year in the House of Commons would have had
thirty pounds more to spend; and that sum might well have made to him
the whole difference between being at ease and being pinched during
twelve months. If the bill had passed, if the gentry and yeomanry of
the kingdom had found that it was possible for them to obtain a welcome
remission of taxation by imposing on a Shylock or an Overreach, by a
retrospective law, a fine not heavier than his misconduct might, in a
moral view, seem to have deserved, it is impossible to believe that they
would not soon have recurred to so simple and agreeable a resource. In
every age it is easy to find rich men who have done bad things for which
the law has provided no punishment or an inadequate punishment. The
estates of such men would soon have been considered as a fund applicable
to the public service. As often as it was necessary to vote an
extraordinary supply to the Crown, the Committee of Ways and Means would
have looked about for some unpopular capitalist to plunder. Appetite
would have grown with indulgence. Accusations would have been eagerly
welcomed. Rumours and suspicions would have been received as proofs. The
wealth of the great goldsmiths of the Royal Exchange would have become
as insecure as that of a Jew under the Plantagenets, as that of a
Christian under a Turkish Pasha. Rich men would have tried to invest
their acquisitions in some form in which they could lie closely hidden
and could be speedily removed. In no long time it would have been found
that of all financial resources the least productive is robbery, and
that the public had really paid far more dearly for Duncombe's hundreds
of thousands than if it had borrowed them at fifty per cent.
Public-domain text, read in full here on John Shaqi.
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