29 Oct. 1801

Polit. Economy

Non Facienda

2 Encreasing Money

3

5

{ In this case the operation /expedient measure/ coincides with the one already

reprobated - the making encreasing addition to the mass of national capital

/real capital/ by money raised by taxes. The difference is that the mode in

which the money is raised, is raised on terms beyond comparison more

disadvantageous - disadvantageous to a degree of usuriousness much beyond any

thing ever exemplified under that name - money raised at an interest of 300 per

cent payable for ever by the possessors of fixed incomes.

From the amount of this depretiation, and this interest, is to be /would be/

deducted, on a strict reckoning, an equivalent for the goods produced in each

year by the addition thus made to the mass of real capital: say 15 per cent for

ever, upon the million so employ'd. But this deduction is so small, as to be

scarce worth bringing to account. Upon the 3 million a year it amounts to but

,150,000.}