[xxxvi. 35]

1821 April 10

Financial

Rudiments to be [...?] from.

Sources of wasteful Expenditure. 1. Unnecessary war. 2. Difference between the pay of a Monarch and d o. of the Chief of a Representative Democracy. 3. In particular, all expenditure applied to the maintenance of lustre, splendour, dignity. 4. Expenditure applied to the advancement to purely ornamental art and science. 5. Where the function itself is necessary, expenditure applied to the pay of a superfluous number of functionaries. 6. So pay in superfluous quantity to each or any functionary. 7. Distant dependencies - all dependencies the maintenance of which costs, by reason of their distance, more money than is or can be extracted from them by the governing country in such sort as to operate pro tanto in diminution of the taxes imposed upon it. 8. Encouragement applied to this or that branch of production under the notion of adding to the quantity and value of the whole. 9. Pensions of Retreat see Morn Chron 10th april 1821. African Company Debate. 10. Compensation pensions on reform.

The sources or modes, actual and customary, of wasteful expenditure, may be distinguished into two classes, having quantity for their mark of distinction, viz. Wholesale and Retail. The wholesale may again be distinguished into those which are essential to the form of Government and those which, howsoever congenial, are incidental to it.

The matter of wasteful expenditure, essential to the form of Government is in the case of an absolute monarchy the difference between the pay of the Monarch, and the least pay sufficient for the President of a Representative Democracy.

In the case of a limited Monarchy, it is that same /the above/ quantity with the addition of the quantity employed in the works of corruption and delusion: coruption, applied more immediately to the representatives of the people: delusion, applied more efficiently and needfully to the people themselves.