ABSTRACT
Let it be supposed that according to the usual methods of borrowing and funding, the Public Debts, during the present war, should encrease to no greater degree than they did in the last war; which was about 30 millions: And let it be supposed, according to past experience, that in ten or twelve years after a peace; we should be plunged into a fresh war; which might encrease the debts of the nation 30 millions more, and that afterwards we should have another breathing time of ten or twelve years, and that according to custom a third war should ensue, no less expensive than each of the former two; these three wars will swell the national debts to the amount of 170 millions, and that in little more than fifty years. For if we have no reason to believe that any more of the debts will be paid during the intervals of peace, than have hitherto been: Nay the whole of the Sinking Fund, by such an increased debt, becoming absolutely anticipated, together with numbers of additional oppressive taxes, we have less reason to expect any of the old debts to be discharged, as we go on contracting of new. 1
