The Sun.
London, England, 1849-01-25 00:00:00

or manufactories, or of any other description of pro-

perty.
A French marshal might have found Tamworth
comfortable residence, and its rent-roll a convenient
:ward for his exertions ira conquering the country.
t'he fundholder could not have expected any other
return for having done all in his pawer to prevent the
-uccetis of the invader, than the sponge ; he played
his game, lost it, and must be ar the consequences.
The owners of all property would have been subject
to forced contributions, rapine, and confiscation. A
Davoust in London, Liverpool, Manchester, or Bris-
tol, Edinburgh, Glasgow, or Dublin, would have
committed precisely the same acts which Davoust did
at llamburgh.
For whose benefit then was it that the invasion of
the country was successfully resisted ? " For the
owners of property," will be the answer of every
nonsst man; and who but a dishonest one would
ay that they ought not to pay the price of their suc-
ct,ssful efforts?

AdmiAed that in the breast of every Englishman,
Scotclanan, and Irishman, 1-.13.(:re exists a feeling that
their country shall not be :invaded., Did they not
freely shed their blood to prewent it on many a well-
field ; and is it just to anake their relatives and
riends also pay for the same oljects for which they

died ?
The Gallic Lord of Tamworth would have em-
;..,loyed the labourer, and must have given him wages
:iufficient to support hiinsell' rand family, or it would
be physically impossible for lai'm to perform his work.
What more does he obtain ttl.der the existing state
)f things ?
Have I not thus established my first proposition ?
Have I not proved that the owners of property reaped
all the benefit from the non•irevasion of the country ?
Have I not proved thatit is discreditably dishonest in
them not to pay the cost of flzeir success ?
2d. My next proposition is lo prove that it would be
very easy to pay off the debt.
1 will take Air. Macgregoecs estimate—as good an
authority as any—of the annual value of the realised
property in the United Kingd.om, at 220,000,0001.—
it may or may not he exagge:aated—l have an ample
revenue, and could throw, off :many millions, and yet
attain my object of paying oft the debt.
This property is worth froan ten to thiey years'
purchase, and therefore I will take an average of
twentY.years. The two hundred and twenty millions,
at twenty years' purchase, would produce .four bil-
lions four hundred and forty millions.. Many of you
will ask, what is a billion ? it. is a million millions ;
look at the figures :
X 220,000,000 annual revenr.e from realised property.
20 years' purcha.se.

£4,400,000,000 value of rcalize d property.

Now, only five per cent. on this sum would
produce more than sufficient to pay off the National
Debt. Five per cent. only ; and I would give the
parties liberty to pay it either at once, or by annual
instalments spread over ten years, with intereat in the
antime at 4 per cent.
Now, have I not proved my second proposition ?
That it would be very easy toy pay off the debt.
I not now trouble you. -with figures, showing
how a portion of the debt might be converted into an
i.uities, or how the annual instalments would be ap-
plied to the extinction of the debt; these are matters
of detail which w,•111(1 be easily arranged by men of
business, but I will now promed to prove my third
propo4tion, which will probably astonish you more
t!,an the preceding.
3d. That it would be very profitable to pay off the
debt. _ _ _

Yet this proposition will be most clearly established
merely by a Dr. and Cr. account of an individual
contributor, showing what he would have to pay on
the one side, and the benefit he would receive on the
other—figures which every one of you are capable of
checking if erroneous.
Take the case of a person possessed of landed pro-
perty, with a rental of 1,0001. per annum. This,
valued at thirty years' purchase, is 30,0001. H's
quota of payment would be five per cent, on this sum,
or 1,500/. _ _

SUppasing that he was unable to pay this sum, he
would have either to sell a portion of bis land or
borrow the money, or pay it off by annual instal-
ments in ten years, with tour per cent. interest until
it was paid.
Some would prefer one mode and some another.
There would not be the least difficulty in borrowing
the money at font. per cent., probably less, in conse-
quence of the number cf those fu.ndholders, who being
pail off, would desire another investment without
purcksing
By subjoined table you will see that if he bor-
rowed the money at four per cent., his annual inte-
rest would be 601. per annum ; and on the other side
you wid see, that at this moment he annually pays
601. on three articles in direct taxation.