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have checked the frugality of the EGYPTIAN monarchs； according to the
foregoing theory。 The sum he mentions is 740；000 talents； or
191；166；666 pounds 13 shillings and 4 pence； according to Dr。
ARBUTHNOT'S computation。 And yet APPIAN says； that he extracted his
account from the public records； and he was himself a native of
ALEXANDRIA。
From these principles we may learn what judgment we ought to form
of those numberless bars； obstructions； and imposts； which all nations
of EUROPE； and none more than ENGLAND； have put upon trade； from an
exorbitant desire of amassing money； which never will heap up beyond
its level； while it circulates； or from an ill…grounded apprehension
of losing their specie； which never will sink below it。 Could any
thing scatter our riches； it would be such impolitic contrivances。 But
this general ill effect； however； results from them； that they deprive
neighbouring nations of that free communication and exchange which the
Author of the world has intended； by giving them soils； climates； and
geniuses； so different from each other。
Our modern politics embrace the only method of banishing money；
the using of paper…credit； they reject the only method of amassing it；
the practice of hoarding； and they adopt a hundred contrivances； which
serve to no purpose but to check industry； and rob ourselves and our
neighbours of the common benefits of art and nature。
All taxes； however； upon foreign commodities； are not to be
regarded as prejudicial or useless； but those only which are founded
on the jealousy above…mentioned。 A tax on GERMAN linen encourages home
manufactures； and thereby multiplies our people and industry。 A tax on
brandy encreases the sale of rum； and supports our southern colonies。
And as it is necessary； that imposts should be levied； for the support
of government； it may be thought more convenient to lay them on
foreign commodities； which can easily be intercepted at the port； and
subjected to the impost。 We ought； however； always to remember the
maxim of Dr。 SWIFT； That； in the arithmetic of the customs； two and
two make not four； but often make only one。 It can scarcely be
doubted； but if the duties on wine were lowered to a third； they would
yield much more to the government than at present： Our people might
thereby afford to drink commonly a better and more wholesome liquor；
and no prejudice would ensue to the balance of trade； of which we are
so jealous。 The manufacture of ale beyond the agriculture is but
inconsiderable； and gives employment to few hands。 The transport of
wine and corn would not be much inferior。
But are there not frequent instances； you will say； of states and
kingdoms； which were formerly rich and opulent； and are now poor and
beggarly？ Has not the money left them； with which they formerly
abounded？ I answer； If they lose their trade； industry； and people；
they cannot expect to keep their gold and silver： For these precious
metals will hold proportion to the former advantages。 When LISBON and
AMSTERDAM got the EAST…INDIA trade from VENICE and GENOA； they also
got the profits and money which arose from it。 Where the seat of
government is transferred； where expensive armies are maintained at a
distance； where great funds are possessed by foreigners； there
naturally follows from these causes a diminution of the specie。 But
these； we may observe； are violent and forcible methods of carrying
away money； and are in time commonly attended with the transport of
people and industry。 But where these remain； and the drain is not
continued； the money always finds its way back again； by a hundred
canals； of which we have no notion or suspicion。 What immense
treasures have been spent； by so many nations； in FLANDERS； since the
revolution； in the course of three long wars？ More money perhaps than
the half of what is at present in EUROPE。 But what has now become of
it？ Is it in the narrow compass of the AUSTRIAN provinces？ No； surely：
It has most of it returned to the several countries whence it came；
and has followed that art and industry； by which at first it was
acquired。 For above a thousand years； the money of EUROPE has been
flowing to ROME； by an open and sensible current； but it has been
emptied by many secret and insensible canals： And the want of industry
and commerce renders at present the papal dominions the poorest
territory in all ITALY。
In short； a government has great reason to preserve with care its
people and its manufactures。 Its money； it may safely trust to the
course of human affairs； without fear or jealousy。 Or if it ever give
attention to this latter circumstance； it ought only to be so far as
it affects the former。
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the End