y-second day of November
to the fourteenth of May, during which period they established the
necessary funds to produce the sums which had been granted. The land-tax
at four shillings in the pound, and the malt-tax, were continued, as
the standing revenue of Great Britain. The whole provision made by the
committee of ways and means amounted to sixteen millions one hundred
thirty thousand five hundred and sixty-one pounds, nine shillings
and eightpence, exceeding the grants for the service of the year one
thousand seven hundred and sixty, in the sum of six hundred twenty-six
thousand nine hundred ninety-seven pounds, thirteen shillings and
tenpence halfpenny. This excess, however, will not appear extraordinary,
when we consider that it was destined to make good the premium of two
hundred and forty thousand pounds to the subscribers upon the eight
million loan, as well as the deficiencies in the other grants, which
never fail to make a considerable article in the supply of every
session. That these gigantic strides towards the ruin of public credit
were such as might alarm every well-wisher to his country, will perhaps
more plainly appear in the sum total of the national debt, which,
including the incumbrance of one million charged upon the civil-list
revenue, and provided for by a tax upon salaries and pensions payable
out of that revenue, amounted, at this period, to the tremendous sum
of one hundred eight millions four hundred ninety-three thousand one
hundred and fifty-four pounds, fourteen shillings and elevenpence one
farthing.--A comfortable reflection this to a people involved in the
most expensive war that ever was waged, and already burdened with such
taxes as no other nation ever bore!

It is not at all necessary to particularize the acts that were founded
upon the resolutions touching the supply. We shall only observe that, in
the act for the land-tax, and in the act for the malt-tax, there was a
clause of credit, empowering the commissioners of the treasury to raise
the money which they produced by loans on exchequer bills, bearing an
interest of four per cent, per annum, that is, one per cent, higher
than the interest usually granted in time of peace. While the house
of commons deliberated on the bill for granting to his majesty several
duties upon malt, and for raising a certain sum of money to be charged
on the said duties, a petition was presented by the maltsters of Ipswich
and parts adjacent against an a