1821. Jan y. 1 ' Revised 1822 March 20

Rid Yourselves of Ultramaria

Note

Introduction

'. 6. Tables - grounds of the opinion

Note (a) to Table 1.

(a) In this Table, under the head of Indian

Revenue, vast differences will be found between some periods and others. For

solution of the difficulty, the observation made by Townsend is that, when the amounts are so large it is the gross revenue that is given; when they are so small the net revenue. By net, what he seems to have meant

is - that part, which found its way into the treasury is

Spain: by gross, the whole of

what was collected in America and Spain together: the rest

being expended, in the countries in and from which it was collected. At the same

time, you have seen him insisting that " the Spanish Colonies

yield no direct revenue to the Mother Country": and the time, in relation to

which this is said, is little distant from the times, at which, if the above

supposition be correct, they are stated by him as yielding to the Mother Country

considerable sums: namely Reals vellon 39,899,918 on an average of 10 years ending

1778; and 60,000,000 reals vellon, on an average of 5 years, ending 1785. To

reconcile the general assertion with these articular accounts, we must suppose, that,

on the occasion of the general assertion, he took into consideration that part of the

expenditure of Spain which, being made in Spain on account of Spanish America, was

drawn from Spain: namely of the total expenditure of Spain in Spain, that part, which was bestowed upon such parts, of the Army,

Navy, Judicial and Financial establishments respectively the demand for which was

produced by the dominion exercised in Spanish America by the Spanish rulers. On this

supposition, the expenditure, in Spain on account of Spanish America, being deducted from the net amount of the receipt in Spain from Spanish

America,- the balance, according to his abovementioned general assertion, was