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[ Note 2 P, p. 310. Such an expensive war could not be maintained without a very extraordinary exertion of a commercial spirit: accordingly we find that Great Britain, since the death of king William, has risen under our pressures with increased vigour and perseverance. Whether it be owing to the natural progression of trade extending itself from its origin to its acme, or ne plus ultra, or to the encouragement given by the administration to monied men of all denominations; or to necessity, impelling those who can no longer live on small incomes to risk their capitals in traffic, that they may have a chance for bettering their fortunes; or lastly, to a concurrence of all these causes; certain it is, the national exports and imports have been sensibly increasing for these forty years: the yearly medium of woollen exports, from the year 1738 to 1743 inclusive, amounted to about three millions and a half, which was a yearly increase, on the medium, of five hundred thousand pounds above the medium from 1718 to 1724. From this article, the reader will conceive the prodigious extent, and importance of the British commerce.]
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[ Note 2 Q, p. 321. The resolutions of the commons on this head were printed by authority in the London Gazette, signifying, that those who were, or should be, proprietors of any part of the public debt, redeemable by law, incurred before Michaelmas, in the year one thousand seven hundred and forty-nine, carrying an interest of four per centum per annum, who should, on or before the twenty-eighth day of February in that year, subscribe their names, signifying their consent to accept of an interest of three pounds per centum, to commence from the twenty-fifth day of December, in the year one thousand seven hundred and fifty-seven, subject to the same provisions, notices, and classes of redemption, to which their respective sums at four per centum were then liable, should, in lieu of their present interest, be entitled to four per centum till the twenty-fifth day of December, in the year one thousand seven hundred and fifty; and after that day, to three pounds ten shillings per centum per annum, till the twenty-fifth day of December, one thousand seven hundred and fifty-seven; and no part of that debt, except what was due to the East India company, should be redeemable to this period. That if any part of the national debt, incurred before last Michaelmas, redeemable by law, and carrying an interest of four per centum, should remain unsubscribed on or before the thirtieth day of May, the government should pay off the principal. For this purpose Ins majesty was enabled to borrow of any person or persons, bodies politic or corporate, any sum or sums of money not exceeding that part of the national debt which might remain unsubscribed, to be charged on the sinking fund, upon any terms not exceeding the rate of interest in the foregoing proposal.
All the duties appropriated to the payment of the interest were still continued, and the surplus of these incorporated with the sinking fund for the discharge of the principal. Books were opened for the subscription at the Exchequer, the Bank of England, and the South Sea house; and copies of these resolutions transmitted to the directors of all the monied corporations.]
322 ([return])
[ Note 2 R, p. 322. The most remarkable circumstance attending the progress of this bill, which made its way through both houses, and obtained the royal assent, was the number of contradictory petitions in favour and in prejudice of it, while it remained under consideration. The tanners of leather in and about the town of Sheffield in Yorkshire, represented, That if the bill should pass, the English iron would be undersold; consequently, a great number of furnaces and forges would be discontinued; in that case the woods used for fuel would stand uncut, and the tanners be deprived of oak bark sufficient for the continuance and support of their occupation. They nevertheless owned, that should the duty be removed from pig iron only, no such consequence could be apprehended; because, should the number of furnaces be lessened, that of forges would be increased. This was likewise the plea urged in divers remonstrances by masters of iron-works, gentlemen, and freeholders, who had tracts of wood-land in their possession. The owners, proprietors, and farmers of furnaces and iron forges, belonging to Sheffield and its neighbourhood, enlarged upon the great expense they had incurred in erecting and supporting iron-works, by means of which great numbers of his majesty’s subjects were comfortably supported. They expressed their apprehension, that should the bill pass into a law, it could not in any degree lessen the consumption of Swedish iron, which was used for purposes which neither the American nor British iron would answer; but that the proposed encouragement, considering the plenty and cheapness of wood in America, would enable the colonies to undersell the British iron, a branch of traffic which would be totally destroyed, to the ruin of many thousand labourers, who would be compelled to seek their livelihood in foreign countries. They likewise suggested, that if all the iron manufacturers of Great Britain should be obliged to depend upon a supply of iron from the plantations, which must ever be rendered precarious by the hazard of the seas and the enemy, the manufactures would probably decay for want of materials, and many thousand families be reduced to want and misery. On the other hand, the ironmongers and smiths belonging to the flourishing town of Birmingham in Warwickshire, presented a petition, declaring, That the bill would be of great benefit to the trade of the nation, as it would enable the colonists to make larger returns of their own produce, and encourage them to take a greater quantity of the British manufactures. They affirmed, that all the iron-works in the island of Great Britain did not supply half the quantity of that metal sufficient to carry on the manufacture; that if this deficiency could be supplied from the colonies in America, the importation would cease, and considerable sums of money be saved to the nation. They observed, that the importation of iron from America could no more affect the iron-works and freeholders of the kingdom, than the like quantity imported from any other country; but they prayed that the people of America might be restrained from erecting slitting or rolling-mills, or forges for plating iron, as they would interfere with the manufacturers of Great Britain.
Many remonstrances to the same effect were presented from different parts of the kingdom, and it appeared, upon the most exact inquiry, that the encouragement of American iron would prove extremely beneficial to the kingdom, as it had been found, upon trial, applicable to all the uses of Swedish iron, and as good in every respect as the produce of that country.]
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[ Note 2 S, p. 330. One of the most remarkable acts which passed in the course of this session, was that for regulating the commencement of the year, and correcting the calendar, according to the Gregorian computation, which had been adopted by all other nations in Europe. By this new law it was decreed that the new year should begin on the 1st day of January, and that eleven intermediate nominal days, between the second and fourteenth days of September, 1752, should for that time be omitted; so that the day succeeding the second should be denominated the fourteenth of that month. By this establishment of the new style, the equinoxes and solstices will happen nearly on the same nominal days on which they fell in the year 325, at the council of Nice; and the correspondence between the English merchants and those of foreign countries will be greatly facilitated, with respect to the dates of letters and accounts.]
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[ Note 2 T, p. 330. An indulgent parent was poisoned by his only daughter, on whom, besides other marks of tenderness and paternal affection, he had bestowed a liberal education, which greatly aggravated her guilt and ingratitude. Another young woman was concerned in the assassination of her own uncle, who had been her constant benefactor and sole guardian. A poor old woman, having, from the ignorance and superstition of her neighbours, incurred the suspicion of sorcery and witchcraft, was murdered in Hertfordshire by the populace, with all the wantonness of barbarity. Rape and murder were perpetrated upon an unfortunate woman in the neighbourhood of London, and an innocent man suffered death for this complicated outrage, while the real criminals assisted at his execution, heard him appeal to heaven for his innocence, and, in the character of friends, embraced him, while he stood on the brink of eternity.]