In this number I have endeavored to show the ill policy and disadvantages of the war. I believe many of my remarks are new. Those which are not so, I have studied to improve and place in a manner that may be clear and striking. Your failure is, I am persuaded, as certain as fate. America is above your reach. She is at least your equal in the world, and her independence neither rests upon your consent, nor can it be prevented by your arms. In short, you spend your substance in vain, and impoverish yourselves without a hope. But suppose you had conquered America, what advantages, collectively or individually, as merchants, manufacturers, or conquerors, could you have looked for? This is an object you seemed never to have attended to. Listening for the sound of victory, and led away by the frenzy of arms, you neglected to reckon either the cost or the consequences. You must all pay towards the expense; the poorest among you must bear his share, and it is both your right and your duty to weigh seriously the matter. Had America been conquered, she might have been parcelled out in grants to the favorites at court, but no share of it would have fallen to you. Your taxes would not have been lessened, because she would have been in no condition to have paid any towards your relief. We are rich by contrivance of our own, which would have ceased as soon as you became masters. Our paper money will be of no use in England, and silver and gold we have none. In the last war you made many conquests, but were any of your taxes lessened thereby? On the contrary, were you not taxed to pay for the charge of making them, and has not the same been the case in every war?