descending equally together, the minister, whoever he may be, will find himself be∣set with accumulating difficulties; because the loans and taxes voted for the service of each ensuing year will wither in his hands before the year expires, or before they can be applied. This will force him to have recourse to emissions of what are called exchequer and navy bills, which, by still increasing the mass of paper in circulation, will drive on the depreciation still more rapidly.It ought to be known that taxes in En∣gland are not paid in gold and silver, but in paper (bank notes). Every person who pays any considerable quantity of taxes, such as malsters, brewers, distillers (I appeal for the truth of it to any of the collectors of excise in England, or to Mr. Whitbread), knows this to be the case. There is not gold and silver enough in the nation to pay the taxes in coin, as I shall shew; and consequently there is not mo∣ney enough in the bank to pay the notes. The interest of the national funded debt is paid at the bank in the same kind of pa∣per in which the taxes are collected. 0