[The Prose Works of Jonathan Swift, Vol. X. by Jonathan Swift]@TWC D-Link book
The Prose Works of Jonathan Swift, Vol. X.

BOOK II
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[T.S.]] Some time after, Mr.Cardonnell,[5] a Member of Parliament, and secretary to the general in Flanders, was expelled the House, for the offence of receiving yearly bribes from those who had contracted to furnish bread for the army; and met with no further punishment for a practice, voted to be unwarrantable and corrupt.
These were all the censures of any moment which the Commons, under so great a weight of business, thought fit to make, upon the reports of their commissioners for inspecting the public accounts.

But having promised, in the beginning of this History, to examine the state of the nation, with respect to its debts; by what negligence or corruption they first began, and in process of time made such a prodigious increase; and, lastly, what courses have been taken, under the present administration, to find out funds for answering so many unprovided incumbrances, as well as put a stop to new ones; I shall endeavour to satisfy the reader upon this important article.
By all I have yet read of the history of our own country, it appears to me, that the national debts, secured upon parliamentary funds of interest, were things unknown in England before the last Revolution under the Prince of Orange.

It is true, that in the grand rebellion the king's enemies borrowed money of particular persons, upon what they called the public faith; but this was only for short periods, and the sums no more than what they could pay at once, as they constantly did.
Some of our kings have been very profuse in peace and war, and are blamed in history for their oppressions of the people by severe taxes, and for borrowing money which they never paid:[6] but national debts was a style, which, I doubt, would hardly then be understood.

When the Prince of Orange was raised to the throne, and a general war began in these parts of Europe, the King and his counsellors thought it would be ill policy to commence his reign with heavy taxes upon the people, who had lived long in ease and plenty, and might be apt to think their deliverance too dearly bought: wherefore one of the first actions of the new government was to take off the tax upon chimneys, as a burthen very ungrateful to the commonalty.

But money being wanted to support the war (which even the convention-parliament, that put the crown upon his head, were very unwilling he should engage in), the present Bishop of Salisbury[7] is said to have found out that expedient (which he had learned in Holland) of raising money upon the security of taxes, that were only sufficient to pay a large interest.


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