ABSTRACT
Few men have ever been invested with power who did not feel a disposition to exceed the limits regularly prescribed. As a corrective of this evil tendency, we have recourse to the establishment of our parliamentary tribunals, appointed in a good measure by the people, but acting wholly under the controul of public opinion. All the powers of the nation are a fiduciary deposit in the hands of these councils, and of their coestate the crown, to be exercised for the nation’s advantage. If the National Debt of Britain were effaced by a Bankruptcy, a very great number of the persons who consume our articles of fabric and export, would be reduced to penury, a stagnation of trade must ensue, and goods be thrown back upon the hands of the manufacturers. But that a necessity should arise for repairing a breach in the credit of Great Britain, is a mere fiction of the imagination, introduced to demonstrate.
