date

19 Decr 1801 Maximum Ulteriora
19 Decr 1801

Maximum

Ulteriora

2

Thus stands the account, so long as the land suffices for its inhabitants in

prospect as well as in existence – and so long as emigration /efflux/ whether of

hands or capital is a loss. But when efflux in both ways is become a relief –

efflux of hands and mouths by relieving /instigating/ scarcity – efflux of

capital by mitigating the income-tax imposed by capitalists upon capitalists as

capital accumulates and the rate of interest the income given /obtainable/ for

the use of it is borne down – in this already impending, yet although impending

scarcely yet so much as imagined state of things. – Colonies, though still a

drain – are notwithstanding, and were because they are a drain – a relief.

The retribution for the burthen /past expence/ is – a scene /prospect/

improvement from Paradise lost – a prospect such as the Angel shewed to Adam –

men propagated /spreading/ in distant climes, through distant ages from the best

stock – the earth covered with British wealth and British population rich with

British wealth – safe /tranquil/ with British security – the fount of British

law.
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  • Title: [19 Decr 1801 Maximum Ulteriora]
    Description: 19 Decr 1801

    Maximum

    Ulteriora

    Colonies

    1

    The encrease of wealth and population being at length established, gives a new

    turn to every thing. It converts exhaustion into relief, and gives to blindness

    /shortsightedness/ the effect of perspicacity. If capital and hands must

    emigrate – and emigrate they must /ere long the hands must do, or be starved –

    better to spots within our dominion /the empire/ at least so as provided expence

    in governing and defending them does not encrease with their population – better

    to our own colonies /places within the empire/ - for happily removal to Ireland

    is no longer emigration – than any where else /without it elsewhere/. Where (as

    if the plea of necessity and self-defence were not strong enough) the Ministers

    of that day made war as they said for indemnification, indemnification was as to

    this island it always has been and always will be impossible. On the ground of

    profit and loss /In the account of relief to national burthens/, untaxable

    colonies are all loss: for this plain-reason, because the goods obtained from

    thence {in the way of trade} are not to be had without equivalent any more than

    if obtained from foreigners – taxes on imports from thence are paid by ourselves

    {and are not higher than what might have been levied on the same goods imported

    from other countries} – taxes upon exports, that is taxes paid by others than

    ourselves are by another species of blindness reprobated – the labour which is

    only turned aside from channel to channel being looked upon sometimes as being

    created by the diversion sometimes as being destroyed by it. Remain the expences

    of governing and defending – in peace and by /in and/ war expences for which no

    indemnification is to be found any where /in any shape/: plus the capital

    transferred from the mother country to the Colonies then dependent, and which to

    the mother country is so much thrown away.

    Thus
  • Title: [18 Decr 1801 Maximum Ulteriora]
    Description: 18 Decr 1801

    Maximum

    Ulteriora

    Render

    x5

    The following passage, from a work just published by Dr Render, points to facts,

    in their own nature notorious /matters of notoriety/, and such as at least may

    be worth enquiry.
  • Title: [18 Decr 1801 Maximum Ulteriora]
    Description: 18 Decr 1801

    Maximum

    Ulteriora

    2

    The dearness has for its ulterior cause exuberance – habitual and indefensibly

    increasing exuberance – of money – of money of the primary sort, by the too

    rapid importation of the pretious metals its materials: the materials of which

    it is composed: of money of the secondary sort, by the unlimited creation of it.

    In regard to scarcity two remedies commonly relied on as sufficient are

    essentially inadequate: cultivation of waste, and importation, with or without

    bounties: in the ordinary course of trade that is /I mean/ by individuals on

    their own account, taking their chance in respect to sale and price: two others

    commonly shrunk from: but the only ones upon which any safe reliance can be

    placed: magazines, in public account, and facility afforded allowance

    /allowance/ declaredly and liberally given to exportation of capital and

    emigration.

    By inadequate in speaking of eaters[?] of waste I certainly do not mean

    undesirable: but where is the resource when all shall have been brought into

    culture? a state of things which many /some persons/ now living may perhaps live

    to see. The period arrival of the period /times/ is an event worth calculation,

    but is not a fit place. In the mean time encrease of mouths is going on, as fast

    perhaps as the encrease of land in a state to feed them.