they could pay at once, as they constantly did. Some of our kings have been very profuse in peace and war, and are blamed in history for their oppressions of the people by severe taxes, and for borrowing money which they never paid: but national debts was a style, which, I doubt, would hardly then be understood. When the prince of Orange was raised to the throne, and a general war began in these parts of Europe, the king and his counsellors thought it would be ill policy to commence his reign with heavy taxes upon the people, who had lived long in ease and plenty, and might be apt to think their deliverance too dearly bought: wherefore one of the first actions of the new government was, to take off the tax upon chimneys, as a burden very ungrateful to the commonalty. But money being wanted to support the war, (which even the convention parliament, that put the crown upon his head, were very unwilling he should engage in) the present bishop of Salisbury[1], is said to have found out that expedient (which he had learned in Holland) of raising money upon the security of taxes, that were only sufficient to pay a large interest. The motives which prevailed on people to fall in with this project, were many, and plausible; for, supposing as the ministers industriously gave out, that the war could not last above one or two campaigns at most, it might be carried on with very moderate taxes; and the debts accruing would, in process of time, be easily cleared after a peace. Then the bait of large interest would draw in a great number of those, whose money, by the danger
