1819 June 9

Official /National/ /Financial/ Economy - Principles of - Rudiments

Title Principles of Official Economy, as applied to Public

Expenditure.

I. Expences not capable of being struck off with advantage

1. Interest of Debt

2. Official Establishment the necessary part of it - Civil - Military

- Maritime

II. Expences capable of being struck off with advantage

1. Emoluments /Pay/ of Sinecure offices

2 Emoluments /Pay/ of useless offices

3 Emoluments /Pay/ of needless Offices

4. Overpay of such as are neither useless nor needless.

5. Pensions of retreat - except those actually granted

6. Bounties for encouragement of literature, Arts and Sciences.

7. Pensions for meritorious services

8. Pensions for support of dignity.

9. Extra pay for buying men off from professional to official service

1. How to judge of the propriety of any article of expenditure:

compare the advantage from it with the mischief of an equal amount of the produce of

the most mischievous tax.

2. How to strike off the overpay of overpaid offices, consistently

with the preservation and encrease of appropriate aptitude.

1. Sale of the Office on Government account.

2. For pecuniary aptitude, Bondsmen.

3. For intellectual aptitude and active talent, examination.

Radical incapacity of men of opulence for apt judgment on the subject

of national /financial/ /official/ economy

Foreign Dependencies - their mischievous effects

I Waste

1. Expence of defraying the official establishment for their

government and defence

2. The whole of the matter of waste operating as matter of corruption

to the deterioration of the government in the governing country

3. Mischief of misrule in each dependency for want of appropriate

interest, /probity,/ information /intellectual aptitude/ and time on the part of the

rulers

4. Mischief to the whole system composed of the governing country and

all its dependencies put together, for want of adquate appropriate information and

time.

5. Danger of war with each dependency in case of discontent

6. Danger of war with foreign independent Sates, by reason of rivalry

and jealousy

N.B. Under the continual danger of needless war, reform out of the question the best

course is to try to pinch the sinking fund as far as possible. Impotence the only

security for peace. The weaker the government the better.