A Letter to the Right Honourable Edmund Burke Paymaster General of His Majesty
A Letter to the Right Honourable Edmund Burke Paymaster General of His Majesty
Major John Scott
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*' government is juftly taken from them, as incom- " petent * See Mr. Burkc's fpceches in the Parliamentary Rcgifter of 1773, printed by Almon. C ] *' petent politicians. " Facts are utterly againft you in the whole of thefe aflertions. The company is no longer free ; its rights no longer fubfift, either to the merchant, to the proprietor, or the politician. This I undertake to prove. The accurfed act of 1773 cramped them in all thefe capacities, and the prefent bill rivets their chains. It is ...the nature and efience of commerce to deal more or lefs upon credit. The merchant who fells upon truft, takes up money upon bills. His real capital fupplies him with the means to raife, and authorifes him to ufe a fiftitious capital. He borrows money upon the ftrength of his Hock : and if that ftock be clearly refponfible, and if his trade be extenfive, his requifitions for a loan are almoft fure of fuccefs. Former acts have deprived the Company of this neceflary refource, of this refource which is open to every merchant.
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