The Works of Samuel Johnson, LL.D. Volume 11.: Parlimentary Debates II.Johnson, Samuel
History
The Works of Samuel Johnson, LL.D. Volume 11.: Parlimentary Debates II.
Johnson, Samuel
Great Britain. Parliament. House of Commons -- History -- 18th century
Yet, my lords, this nation, however zealous for its commerce, is about
to engage in a war, in a war with the only state by which our commerce
can be impaired; it is about to support new armies on the continent
without allies, and without treasure.
That we are without treasure, and that our trade, by which only our
funds can be supplied, has lately been very much diminished, is too
easy to prove in opposition to the specious display which the noble
lord, who spoke last, has been pleased to make of the exuberance of
our wealth.
If the abundance of our riches be such as it has been represented, why
are no measures formed for the payment of the publick debts? of which
no man will say, that they are not in themselves a calamity, and the
source of many calamities yet greater; of which it cannot be denied,
that they multiply dependence by which our constitution may sometimes
be endangered. Why are those debts not only unpaid, but increased by
annual additions to such a height, that the payment of them must soon
become desperate, and the publick sink under the burden?
That our trade, my lords, and by consequence our wealth, is of late
diminished, may be proved beyond controversy, even to those whose
interest it is not to believe it, and upon whom, therefore, it cannot
be expected, that arguments will have a great effect. The produce of
the customs was the last year less by half a million than the mean
revenue; and as our customs must always bear a certain proportion to
trade, we may form an indisputable estimate from them of its increase
or its decline.
The rise of our stocks, my lords, is such a proof of riches, as
dropsical tumours are of health; it shows not the circulation, but the
stagnation of our money; and though it may flatter us with a false
appearance of plenty for a time, will soon prove, that it is both the
effect and cause of poverty, and will end in weakness and destruction.
When commerce flourishes, when its profit is certain and secure, men
will employ their money in the exchange of commodities, by which
greater advantage may be gained, than by putting it into the hands of
brokers; but when every ship is in danger of being intercepted by
privateers, and the insurer divides the profit of every voyage with
the merchant, it is natural to choose a safer, though a less
profitable traffick; and rather to treasure money in the funds, than
expose it on the ocean.
But, my lords, the ministers themselves have sufficiently declared
their opinion of the state of the national wealth, by the method which
they have taken to raise those supplies of which they boast with how
great facility they are raised.
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