The Prose Works of Jonathan Swift, D.D. — Volume 10: Historical WritingsSwift, Jonathan
History
The Prose Works of Jonathan Swift, D.D. — Volume 10: Historical Writings
Swift, Jonathan
Anne, Queen of Great Britain, 1665-1714; Great Britain -- History -- Anne, 1702-1714; Spanish Succession, War of, 1701-1714
life, he returned to his seat in Parliament.[15]
[Footnote 15: See the particular account in "The Examiner." [ORIGINAL
NOTE.] The reference is to Nos. 33, 41, and 42 of that paper (see vol.
ix, of this edition). [W.S.J.]]
The overtures made by this minister, of paying so vast a debt, under the
pressures of a long war, and the difficulty of finding supplies for
continuing it, was, during the time of his illness, ridiculed by his
enemies as an impracticable and visionary project: and when, upon his
return to the House, he had explained his proposal, the very proprietors
of the debt were, many of them, prevailed on to oppose it; although the
obtaining this trade, either through Old Spain, or directly to the
Spanish West Indies, had been one principal end we aimed at by this war.
However, the bill passed; and, as an immediate consequence, the naval
bills rose to about twenty _per cent_., nor ever fell within ten of
their discount. Another good effect of this work appeared by the
parliamentary lotteries, which have been since erected. The last of that
kind, under the former ministry, was eleven weeks in filling; whereas
the first, under the present, was filled in a very few hours, although
it cost the government less; and the others, which followed, were full
before the Acts concerning them could pass. And to prevent incumbrances
of this kind from growing for the future, he took care, by the utmost
parsimony, or by suspending payments, where they seemed less to press,
that all stores for the navy should be bought with ready money; by which
_cent. per cent._ hath been saved in that mighty article of our expense,
as will appear from an account taken at the victualling office on the
9th of August, one thousand seven hundred and twelve. And the payment of
the interest was less a burthen upon the navy, by the stores being
bought at so cheap a rate.
It might look invidious to enter into farther particulars upon this
head, but of smaller moment. What I have above related, may serve to
shew in how ill a condition the kingdom stood, with relation to its
debts, by the corruption as well as negligence of former management; and
what prudent, effectual measures have since been taken to provide for
old incumbrances, and hinder the running into new. This may be
sufficient for the information of the reader, perhaps already tired with
a subject so little entertaining as that of accounts: I shall therefore
now return to relate some of the principal matters that passed in
Parliament, during this session.
Public-domain text, read in full here on John Shaqi.
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