The histories of England, and of most other countries, abound in relating the miserable, and sometimes the most tragical effects, from the abuses of coin; by debasing the metal, by lessening, or enhancing the value upon occasions, to the public loss; of which we have an example, within our own memory in England, and another very lately in France. It is the tenderest point of government, affecting every individual, in the highest degree. When the value of money is arbitrary, or unsettled; no man can well be said to have any property at all; nor is any wound so suddenly felt, so hardly cured, or that leaves such deep and lasting scars behind it.
I conceive this poor unhappy island, to have a title to some indulgence from England; not only upon the score of Christianity, natural equity, and the general rights of mankind; but chiefly on account of that immense profit they receive from us; without which, that kingdom would make a very different figure in Europe, from what it doth at present.
The rents of land in Ireland, since they have been of late so enormously raised, and screwed up, may be computed to about two millions; whereof one-third part, at least, is directly transmitted to those, who are perpetual absentees in England; as I find by a computation made with the assistance of several skilful gentlemen.
The other articles by which we are altogether losers, and England a gainer; we found to amount to almost as much more. I will only set down as many heads of them as I can remember; and leave them to the consideration of those, who understand accounts better than I pretend to do.
The occasional absentees, for business, health, or diversion.
Three-fourths of the revenue of the chief governor, during his absence; which is usually four-fifths of his government.
The numerous pensions paid to persons in England.
The pay of the chief officers of the army absent in England, which is a great sum.
Four commissioners of the revenue, always absent.
Civil employments very numerous, and of great income.
The vast charge of appeals to the House of Lords, and to the Court of Delegates.
Students at the Inns of Court, and the two Universities.
Eighty thousand pounds sent yearly to England, for coals; whereof the prime cost is nothing; and therefore, the profit wholly theirs.