of the court of aldermen[b]. By statute 13 & 14 Car. II. c.
2. four hundred were licensed; and the money arising thereby was
applied to repairing the streets[c]. This number was increased to
seven hundred by statute 5 W. & M. c. 22. and the duties vested in the
crown: and by the statute 9 Ann. c. 23. and other subsequent
statutes[d], there are now eight hundred licensed coaches and four
hundred chairs. This revenue is governed by commissioners of it's own,
and is, in truth, a benefit to the subject; as the expense of it is
felt by no individual, and it's necessary regulations have established
a competent jurisdiction, whereby a very refractory race of men may
be kept in some tolerable order.

[Footnote b: Scobell. 313.]

[Footnote c: Com. Journ. 14 Feb. 1661.]

[Footnote d: 10 Ann. c. 19. Sec. 158. 12 Geo. I. c. 15. 33 Geo. II. c.
25.]

VIII. THE eighth and last branch of the king's extraordinary perpetual
revenue is the duty upon offices and pensions; consisting in a payment
of 1_s._ in the pound (over and above all other duties) out of all
salaries, fees, and perquisites, of offices and pensions payable by
the crown. This highly popular taxation was imposed by statute 31 Geo.
II. c. 22. and is under the direction of the commissioners of the land
tax.

THE clear neat produce of these several branches of the revenue, after
all charges of collecting and management paid, amounts annually to
about seven millions and three quarters sterling; besides two millions
and a quarter raised annually, at an average, by the land and malt
tax. How these immense sums are appropriated, is next to be
considered. And this is, first and principally, to the payment of the
interest of the national debt.

IN order to take a clear and comprehensive view of the nature of this
national debt, it must first be premised, that after the revolution,
when our new connections with Europe introduced a new system of
foreign politics, the expenses of the nation, not only in settling the
new establishment, but in maintaining long wars, as principals, on the
continent, for the security of the Dutch barrier, reducing the French
monarchy, settling the Spanish succession, supporting the house of
Austria, maintaining the liberties of the Germanic body, and other
purposes, increased to an unusual degree: insomuch that it was not
thought advisable to raise all the expenses of any one year by taxes
to be levied within that year, lest the unaccustomed weig