Brief Observations On a Late Letter Addressed to the Right Hon W Pitt By W B
Brief Observations On a Late Letter Addressed to the Right Hon W Pitt By W B
Bengal India
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Have been added to the national debt, whose annual interest necessarily re- quired a large addition of Bank notes, which must naturally increase the cir- culation. The trade of the country has likewise been greatly augmented, by the 18 conquest of some very valuable colo- nies on the coast of America. The real scarcity of provisions, which is chimerically treated by Mr. Boyd, has also, by the very advanced prices arising from that circumstance, tend- ed to increase the circulation. Now, when a ...fair statement is made of all these occurrences, and a deduction add- ed of the proportion of specie received into the Bank, out of the increased issue of 0, 475, 397!. The balance will appear to be very small indeed; and the phantom conjured up by Mr. Boyd's financial imagination, dissolves in air. But while Mr. Boyd dwells on fan- cied evils, or suffers his imagination to 39 exaggerate beyond all probability some of those which really exist, he passes pyer the dearth of grain with a degree of calmness that might not be alto- gether expected from a person, who seems to be prepared to unfold the dis- tresses of his country : for he cannot be ignorant that the value of the imports of various kinds, during the last twelve months, have amounted to seven or eight millions sterling ; and as grain in every part of the world is a ready- money article, it required the most prompt mode of payment.
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