quired to fill up that waste, dries up the source whence armies might otherwise have this day been in existence on European ground, to vindicate the empire. By raising a few more black regiments, very small indeed will be the number of British recruits demanded for the colonies. For a few British troops will still be required there, but with greater means of bodily health, the black regiments being stationed on the sea coast, which not obnoxious to them, is most fatal to the white troops, whom this disposition will enable to be removed into the interior, which is most wholesome in air, and commanding in situation, being composed of almost inaccessible fortresses. Meanwhile the sea coasts are sufficiently watched by a few cruizers of the lowest class. Granting the reason of these observations, still will be objected the danger of arming the negroes. It is repeated, shall the army of the mother-country be exhausted to support an everlasting lazaretto? Are the objects of such excellent consequence as to deserve such sacrifices? Is it not of greater consequence to keep up the army at home; and to unite that wanted blessing with the easy safety of the West Indies, and more, the capacity of aggression against the tropical territories of the enemy, is any method so simple and certain as the increase of the black regiments? It is said the safety of the colonies; for, by the greatest imbecility only will that improvement in the military system, endanger the subserviency of the colonies to the mother-country. These regiments of blacks will be officered as at present they are, by British. The working slaves have no arms allowed them, and instances may be shewn, in which the black troops have willingly followed their officers against slaves in insurrection. By stationing them on the coasts, the communication or intercourse between them and the slaves may be entirely prevented. The militia of the colonies, though inferior in discipline and officers to troops of the line, yet individually is composed of few natives, but adventurers from those islands, whom poverty and daring spirits have carried from their native country not to forget it, but to measure every action by its fitness to accelerate their return to what they affectionately style bome. They are habituated to the climate, and are loyal to the crown. The largest of the sugar islands has conceived an invincible jealousy against the admission of black troops; but that jealousy was produced by the want of faith which conveyed the first black regiment to that island; the circumstances are, I presume, at length in

your Register, respecting the public trans actions of Jamaica. Because it exists, it follows not that it is rational; and when a fair view is made of the state of the navy, by the assembly of that colony, the cruelty of devoting our soldiers to that horrid climate, and their own means of colonial safety when under the British ægis, their jea lousy may subside or be confined to precaution. Were a list made out of the men, who sunk under the fever last war, of the troops transported to that climate, it would appear, entire armies have been swallowed up for sugar and rum expeditions, while the gallant, the gentlemanlike acaievement of European warfare has been abandoned. There is a class of natives in the colonies which would serve admirably to fill up West-India regiments, the free negroes and free mulattoes, a race of men, agile, robust, and patient. Under British officers enough might be selected to over-run all Spanish America. That nation is the happiest and greatest which despises the preservation of conquests, but which is in an attitude to strike them with surety. With the most overflowing resources, we are as inefficient, as the mendicant United States, for warwhose end is peace, honourable, and lasting. ANTIGOTHAM.

If Mr. Cobbett think the above worthy of insertion the writer will be obliged to him. After going thus far, he read in the Register of Saturday last, the Jamaica papers, con taining the dissentions between that colony and the ministers. If Mr. Cobbett have not destroyed the manuscript of a paper inserted in a Register of July last, respecting the in ternal state of Jamaica, he will perceive that he did not print the most material pas sage, which related to a relaxation of the na vigation laws, and an indulgence of unlimited intercourse between Jamaica and the United States, for a term of years, to enable that island to resist overhanging destruction. It was also added that, for a time, the restrictions, which prevented the cheap entry into the British harbours of the minor WestIndia productions, might be moderated, whereby their culture would be restored to a starving colony. Both these were omitted, which, proving the loyalty of Mr. Cobbelt, inasmuch as the erasure implies the opinion of their doctrine being injurious to the empire, is contrary to that of their writer, who conceived their adoption the only means of re uniting the life blood of that island, so essential to the general prosperity, in conse quence of the inmense British capital there, at hazard, independent of the shipping, manufactures, and population, a long course of

time has involved on its existence. On зccount of the non-residence in Jamaica of propriety of distinction and connexion, of the fashion of new-men to desert it on acquiring a fortune, all proceedings of ministers are unnoticed, and in obscurity. The eye is captivated with parade, the ear is entranced with the melody of eloquence; and necessity and reason unite to enforce passive obedience. One is struck with a note in p. 527.of De Lolme's Constitution of England; to sanction his sentiments of the thoughtlessness of ministers in general, he quotes the speech of the celebrated Count Oxengtiern to his son, who, expressing his diffidence of his own abilities, and the dread he felt of entering into public business, the hoary politician made this answer in Latin," Nescis, mi fili, quam parvâ cum sapientiâ regitur mundus,-You do not know, my son, with what little wisdom the world is governed," of which maxim our suges seem to be perfectly convinced.

London, Feb. 12.

SUMMARY OF POLITICS.
THE BUDGET.

This word always puts one in mind of the contents of the thing, of which, in its literal sense, it is the representative; and, upon no occasion, that I recollect, has this idea pressed itself forward with more force than at present.Every year certain expectations are held forth; and every year they are disappointed. But, if the last year's promises are broken, ample amends is made by the new ones, which never fail to exceed the former, whether as to magnitude or solemnity.- -Upon a complote view of the financial state of the country it would be useless to enter until the whole of the annual accounts were laid before parliament; but, the Budget, taking its statements, as to the past, for truth, enables us to settle a point or two, with respect to which there have been some dispute.The art of financiering consists principally in multiplying and confusing accounts, till, at last, no one has courage to undertake an examination of them. The way, therefore, to detect a financier of the Pitt school, is, to fix upon some one point, and that, too, a point as simple as possible in itself, and that will not very easily admit of being disfigured and confused. When my attention was first attracted to the subject of finance, it appeared to me, that a gross deception was played off upon the people annually; but, an annual exposition of every little wheel, peg and wire in the immense machine, would have been an endless task. I, therefore, fixed upon one single point, namely, the

Surplus of the Consolidated Fund, and, upon this point I have steadily followed the "two "first financiers in the world" (as the SUN and the ORACLE call them) from the month of December 1802 to the present day. --But, first of all, in order to render what I have to say intelligible, it may be necessary to explain what is meant by the words, Consolidated Fund. Who would not imagine, that it was a national resource already realised and set apart. In the common acceptation of the word Fund, it means something collected together. When we talk of a fund for the purpose of defraying any expense, we never suppose it to depend upon contingencies. If a man tells us that he has formed a fund for a certain bbject, we think him to mean that he has got so much money together; and, that there he keeps it apart for that special object. With this notion in their minds, the people, when they hear talk of the Consolidated Fund, think that the nation has a certain great fund, or stock purse; and, when they hear talk of the surplus of this fand, they think that the fund has grown beyond the demands upon it, and that they are in a fair way of becoming as rich as Jews. Whether any of them ever imagine, that they shall five to see the day when the overflowings will be distributed amongst them is more than I can say; but, that some of them, and those political writers, too, regard the consolidated fund as intended to defray all the expenses of the nation, will appear from the following passage of the Morning Herald, once before quoted.

From the official account of the income "and charges of the year (1803), it will be

seen, that the income amounted to

31,862.961 I. whilst the charges are only "26,700 5331. leaving a balance in favour "f the country of more than 5 millions, a "circumstance without example in the "whole of our financial history!" And, indeed, who can blame people for adopting such notions? Why are not the accounts of the nation stated like the accounts of individuals? Why are words and even whole sentences to have a meaning, when applied to national accounts, different from that which they have when applied to the accounts of individuals? What is it that constitutes cant? And, what are the purposes for which cant is used? Who would ever imagine, that, by the Consolidated Fund, was meant the money annually received at the Exchequer for all the permanent taxes of the kingdom; or, in other words, with an exception not worth noticing here, the whole income of the nation, war taxes now excepted? This fund, as it is called, is, by several

acts of parliament, appropriated to the paying of the interest upon the national, the expenses of the civil list, and the pensions and salaries granted by Parliament; and, what remains is called the surplus of the consolidated fund; which surplus, be it obs served, is all that there is, except the war taxes, wherewith to meet the expenses of the army, the navy, the ordnance, and the miscellaneous charges, which four heads amount, this year, to 43 millions sterling, while the famous surplus amounts to only one million two hundred thousand pounds, leaving, of course, 41 millions to be raised by war-taxes and by loans; and, accordingly, we see, that 16 millions in war taxes are counted on, and we have seen a loan made for 20 millions. Why then confuse and puzzle men by talking about a fund and surplus?" Oh!" Say the people of the "Change," but this fund is a very impor"tant thing. It is appropriated, by acts of "parliament, to the payment of the interest "of the public debt: it is sacred and can"not be touched. The stockholder is thus "secured by the law. Let come what will; "let who will go unpaid, he must be paid.' What a farce is this! Just as if any one would, or could, pay the stockholder, if there were not wherewith to pay the army and the fleet! Yet does the mere notion, absurd as it is, prop up the faith of many; or, at least, amongst other notions, inspired by similar means, it tends to that end. The worst of it, is, that this sort of faith is of a nature exactly the opposite to that of faith in the religious sense of the word; for, it is the property of the latter to enable men to smile in their last moments, whereas, the longer the former is entertained, the more horrid will be the catastrophe.--Having, as well as the confusion of the statements will permit me, described the nature of the consolidated fund and its surplus, I have now to beg the reader's attention to the several estimates relative to the latter, made, at different times, by "the two first financiers in the world." In December, 1802, Mr. Addington estimated the future surplus of the consolidated fund, without the imposing of any new permanent taxes, at 7,645,0001. a year; but, in order to keep within bounds, he took it, in his ways and means, only at 6,500,000 1. Upon the subject of this estimate, I said (Vol. III. p. 614), "I assert, that, if the accounts of "last year be correct, the surplus for this year will amount to only 4,974,6541. Here, Sir, we are at issue. Time alone

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can finally decide between us." Time did decide: the year ended, and the surplus

was only 5,162,533 1. Proving the gross fallacy of "the first financiers," estimate, the correctness of mine, within 187,8791. which, in such a sum as that in question is hardly worth notice.--The Budget, as it is very properly called, for last year, was brought forward in April, when Mr. Addington called upon the parliament to vote (and that they did so it is hardly necessary to say) 5,000,000l. as the surplus of the consolidated fund for the year 1804. But, we must take down his words here. "I now come to the "surplus of the consolidated fund, which I "estimate at 5,000,0001. I shall be ready, "when called upon, to state, why I do not "take it at so large an amount as in the last

reason to impute blame to myself for

having, upon these grounds, called upon "the House to vote 6,500,0001. I detailed "s my reasons to the House, and the House "approved of them!!!"*. Thus, silence was, as, indeed, it ought to be, when accompanied with an affirmative vote, construed to mean approbation. A useful hint for those, who are disposed to suffer money votes to pass as mere matters of course!-Another year has now terminated. From the moment the account of the last year's permanent taxes appeared, I ventured to state, that the surplus of the consolidated fund for last year would not exceed 2,000,0001. ↑ I was deceived, for the other " first financier in the world," now has told us, that it produced 2,200,0001.1!!! In doing this, however, he kindly endeavoured to cover the blunder of his brother finan cier, by attributing the deficit "to causes "which he could not but consider as tem

fund. I, therefore, look forward to a probable amount next year (that is to say the year just expired) of 5,000,000 1."* Now, however, we find, that, in spite of the addition of these suspended payments, so "fairly" added, the 5,000,000l. have dwindled down to 2,200,0001. as was, at the time, predicted. Mr. Pitt has now estimated the surplus for the present year at 4,000,000l.; but, unless the war taxes fall off in a proportionate degree, or, unless money depreciates still more rapidly than it now does, I tenture to predict that there will be no surplus at all, other than what may arise from new taxes, or war taxes brought into the consolidated fund, and thereby leaving a larger sum to be provided by loan.-Here, then, we have a quite satisfactory proof of Mr. Addington's skill and foresight, when, in such lofty strains, he congratulated the parliament and the nation upon the growing produce of the consolidated fund." The speech, here alluded to, he afterwards published in a pamphlet, a pamphlet which, upon a more extended view of the subject to which these remarks belong, I may take the liberty of quoting somewhat at large. He said, that his statements were made upon "the most mature deliberation;" that he had carefully and minutely exa"mined all the facts uponwhich his estimates

were founded;" and, let it be observed, that, in the next month of June, (1803,) after the war had begun, he repeated his statement in this respect, and said: "The

growing produce of the consolidated fund is likely to increase." He accordingly included it in his ways and means at 6,500,000l. I beg the reader not to forget that this was after the war had begun; and, that, therefore, no excuse can be grounded on a change in the situation of the country.

observing, that we hear now again all the set phrases of congratulation, which we have heard repeated in every budget speech for the last fourteen years. It is always such an excellent bargain for the public! One may here exclaim with Condorcet: "qu'il est "bíte cet éve moral qu'on appele publique !? It is, too, always a bargain equally excellent for the loan-jobbers! Mr. Addington never failed to say so, and his brother in finance has now repeated the saying in terms stronger than ever. But, trifling circumstance seems to have been forgotten, namely, that, during this war we were to have no loas, at least not exceeding 6 millions a year! This is another case which calls on us to recer to their very words. "The committee," said Mr. Addington in his budget speech of 13th June, 1803,"will perceive, that the great "object I have in view is, to raise a large part of the supplies within the year. The

t

"

extent, to which I wish to carry this prin"ciple is this, that there shall be no increase "whatever of the public debt during the war. In the first place it will be neces

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sary to ascertain the probable amount of the annual charges during the war, and "then to make provisions for carrying on a "vigorous and even protracted contest, "without making any greater addition to is the public debt, than what will be an "nually liquidated by the Sinking Fund. "The annual charge of the war, unless de"mands should be made upon us by the in"tervention of foreign powers who maywish "to make a common cause with us, I think, "will not exceed 26 millions. I do not deny that this is a great, an enormous, sum; but certainly not greater than th "value of the object for which we have to " contend. If, then, the House think pro

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surplus does, indeed, and very fast too; but, as the old women say of stunted children, it is downwards, like a cow's tail. First it was estimated at 7,845,0001. At its first start it reached 6,500,0001.; but this was a sort of Midsummer shoot. The next spring brought it to 5,100,0001.; and the next, to 2,200,0001. Observe, too, that this is the progress of the falling off in the permanent taxes, amounting, at the end of two years, to more than 5,000,000 1. in the year, to which must be added more than 1,000,0001. for depreciation of money, according to Mr. Pitt's own declaration, during his speech upon the civil list. +Upon the subject of the loan, it is impossible to refrain from

*Parl. Debates, Vol. II. p. 353.-† Ibid. 905.

per to adopt the measure I am now pro"posing; if I am right in my estimate of "the growing produce of the consolidated "fund, which I have considered at about 6 "millions and a half, and if my calculation "of the annual taxes be correct, which I "have estimated at 12,500,0001. but, which, "for this purpose, I will only take at -"10,000,000l. there will only remain a

sum of 6,000,000l. to be borrowed, " which will be more than covered by the sinking fund, which now produces con"siderably more than 6,000,000. The growing produce of the consolidated fund

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is also likely to increase, unless we are "again visited by those calamities by which "the country has been afflicted. If, then, "my calculations are correct, we shall te "able to meet a war expenditure of 26 mi "lions, without any increase to the puble