Industrial Experiments in the British Colonies of North America

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«Ibid.
The Bounty System. 81 It is not easy to estimate exactly to what extent influences issuing from government circles affected the decision of the Board of Trade respecting the bounty question, but it seems probable that the deplorable state of the navy finances may have been an important factor in the question of the renewal of the Naval Stores Act. The enormous expenses of the late war had necessarily fallen heavily upon the Navy, and there had been serious charges of maladministration br
...ought against the Navy Board throughout the war. Their debt was made the subject of debate in Parliament in the winter of 1721, and the king, in a speech from the throne, said that this was the "most heavy and burdensome part of the national debt. "^ The fact that navy bills were at high discount may, very likely, have had some- thing to do with the discontent of the merchants who com- plained that they got little benefit from the premiums. It is even more probable that the state of their accounts strongly influenced the Navy Board themselves in their attitude towards the encouragement of plantation stores.

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