New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-10-06

But the GROWING glOries Of the scierce oil Dor
rowing have been reserved, ss was f,lcg. for the
Kings snd Princes Of the eMth, within lees than
tso centuries. 1t Was always q puzzlirg thinso
the Edwards and Hsorys of the heroic age OF our
history and of al other history too, to raise the
wind necessary to keep the sails OF the s'iP oil
state filed and they were often reduced, like other
pilots, to buy favorable e,les Of any LiPaud or
other witches that offered them for sale. The
Jew. were an exceedingly valuable PORTION of the
subjects Of those heroic monsrchs, worth tsice
their weight in Christians. Henry Ill, for In
stance, hypotbecated hi, Jews" (JHdeos nostros)
for the sum Of 5000 marks to the Ear! Of Corn
wall, giving him foil power to eXtort the Same oy
distress on their goods or bodies- But in those
days Of darkness the moneys necessary to cNry on
tie Government were raised within the reign of the
king, by hook or By crook by farming out the rev.
enues, BY anticipating the taxes BY loan. or BY
pswnps the royal jewels. Every generation on
an average, paid it, way in some sort. 1t vas not
until the other day as it were, that the bright dea
gradually dawned upon the financial miod Of Dor
rowing money and bequeathiDg the payment Of the
same ss an heirloom to posterity. Add this brilliant
invention did not spring fully grown. and armed in
all its strength from tue laboring brain OF any one
Oympean fnsncier. 1t grew up from small be-
eipnipgs TO its present gigantic proportions, AMI,
like vireil's Rumor, has got strength IS well as
slse by rurning,
"Insrsdturqne solo. ct csPu. inter uubla condi',
Ard Lifts its head above the clouds while walking
upon the earth And it has made the trade of gov
erpipg much easier than it used to be.
Vi.court Goderich, now Earl Of Ripon, BY the
DEF Of his father mo ved, while since, for 10
turn of the Whole Amount Of the Natoosl Debt OF
England and ireland, which was duly laid on the
table Of the House Of Commons before the proro-
CATION 1t is not as formidable in point OF size as
some of the Blue Books which strike terror into
the heart of member and constituent, being only
little over hundred pages long; but they arc
pages crAmmed full Of the very quintessence OF
English history 1t is an abstract and briefchrOuicle
of the fighting which the English nation has in.
dulped in, On its own account and Others, for the
last century and three-quarters. 1t is record
how
"Mor.sssed States their grspd.ire- wreaths regret,
From age TO age IN everlasting debt
For the National Debt of England is a monument Of
war-a military trophy-which would never have
existed had it not been for her fighting procvltes,
or necessities the amount incurred for any other pur
pose being entirely incopsiderable and unmportant.
The first legacy of debt bequeathed by king to
lis successor was left by that Most Religious King
Charles H., and amounted only to the paltry sum
Of E664, 263 Indeed, it might be regarded as less
than nothing as this sum was the amount granted
by Parliament in payment of near three millions
which had been advanced by the bankers and other
capitalists of London, on pledge Of the taxes, and
of which they were cheated by the shutting up Of
the Exchequer in 1872, and in consequence Of
which many of them were ruined. So that 10
point of fact, the nation, or his Majesty, at least
was clear gamer by this neat financial operation
of more than two millions, although the small con-
alteration named above, with three per cent interest,"
remained q charge on the excise at the time Of the
lamented death of the Merry Monarch.
The Revolution Of 1858, and the establishment
of William and Mary on the throne of James H.,
va, accomplished with only trihe more than two
millions being added to this small nucleus of the
English debt But at the begicning of the last
century, the war with France had rAised the
amount to EI4, Zoo, 900. Then the wars of Mail
borough and Peterborough, undertaken for the 70.
duction of the Grand Monsrque to his proper
place and due weight in the Balance OF Power,
ran il up, at the time of the treaty Of Utrecht, to
the figure Of eco OO0,O 900 more As much more
was added to the tottle of the whole" BY the
short war with Spain, ending in l72l, which LEFT
the debt at G54,OO0, OOO The administration of
Sir Robert Wa'pole, under whom " the Empire
Z" ras peace" reduced this sum, which our limo
cert ancestors thought considerable, by e.
OOO co., But the War Of the Right of Search with
Spain, into which he was buued BY Pulteney, Car
teret Sandys, and the rect of them, but which did
not save him from sinking into insignifcancs and
"an earldom," soon swallowed up that poor thrift,
and left the debt at the end Of the war swelled to
the round sum of f75, 100000 1t at this time,
HAS, that johnson wrote the lines just quoted,
about morgsged States regretting their grandsires
wreaths, and he doubtless thought that sum was as
much a. the nation could stasger under. Yet he
lived to zee it more than trebed when the accounts
were made up 10 1884, the year be died, Of the
cost Of the American war But as he hsd proved
Taxation to be No Tyranny, it was perhaps Of the
less consequence and besides, the mother country
had grown in stature and substance 10 proportion
TO the load laid upon her, % that she could We'll
sustain it, Even as he held that the Colonies had,
in the sentence Of his pamphlet which the Minis
try struck out "either critically, o. too ludicrous,
"or politically, as too exmperating," in which he
thus disposed of the objection that the Colonies
had never been taxed before-"we do not putt