the peace establishment the deficiency of the fund created for payment of that interest, would be laying twice to the account of the war part of the same sum.  Suppose ten millions borrowed at 4 per cent, and the fund for payment of the interest to produce no more than 200,000_l._ The whole annual charge on the public is 400,000_l._ It can be no more.  But to charge the interest in one part of the account, and then the deficiency in the other, would be charging 600,000_l._ The deficiency of funds must therefore be also deducted from the peace establishment in the “Considerations”; and then the peace establishment in that author will be reduced to the same articles with those included in the sum I have already mentioned for the peace establishment before the last war, in the year 1753, and 1754.

Peace establishment in the “Considerations” L3,609,700
Deduct deficiency of land and malt L300,000
Ditto of funds 202,400
-------- 502,400
---------
3,107,300
Peace establishment before the late war, in
which no deficiencies of land and malt, or
funds are included 2,346,594
---------

Difference L760,706

Being about half the sum which our author has been pleased to suppose it.

Let us put the whole together.  The author states,—­

Difference of peace establishment before and
since the war L1,500,000
Interest of Debt contracted by the war 2,614,892
---------
4,114,892
The real difference in the peace
establishment is L760,706

The actual interest of the
funded debt, including
that charged on the
sinking fund L2,315,642

The actual interest of
unfunded debt at most 160,000
---------
Total interest of debt
contracted by the war 2,475,642
---------
Increase of peace establishment, and interest of
new debt 3,236,348
---------
Error of the author L878,544

It is true, the extraordinaries of the army have been found considerably greater than the author of the “Considerations” was pleased to foretell they would be.  The author of “The Present State” avails himself of that increase, and, finding it suit his purpose, sets the whole down in the peace establishment of the present times.  If this is allowed him, his error perhaps may be reduced to 700,000_l._ But I doubt the author of the “Considerations” will not thank him for admitting 200,000_l._ and upwards, as the peace establishment for extraordinaries, when that author has so much labored to confine them within 35,000_l._

These are some of the capital fallacies of the author.  To break the thread of my discourse as little as possible, I have thrown into the margin many instances, though God knows far from the whole of his inaccuracies, inconsistencies, and want of common care.  I think myself obliged to take some notice of them, in order to take off from any authority this writer may have; and to put an end to the deference which careless men are apt to pay to one who boldly arrays his accounts, and marshals his figures, in perfect confidence that their correctness will never be examined.[58]