of his genius, called forth by the diftreffes of his country, confuted thefe inaufpicious prefages of fortune, and rendered his future life an uninterrupted career of patriotism and glory. The ambition of Lewis the fourteenth, intruding into the frontiers of Holland, first opened to the young prince a theatre for the difplay of thofe aftonishing endowments, which proved him to be worthy of the honours, as well as the name, of his renowned ancellors. He was appointed admiral, captain general, and at lalt reftored to the office of ftadtholder. The magnanimity, the exertion, and the perfeverance, by which the prince of Orange defeated the intrigues and the armies of Lewis, not only protected the liberties and engaged the confidence of his country, but recommended him to the furrounding powers of Europe, trembling for their independency, as the fittelt perfon to form and conduct a fcheme of confederate refilance to the ufurpations of France. While the grandeur of the defign flattered his ambition, its connexion with the liberties of the States interested his patriotic zeal. In the fequel of his hiflory, it is difficult to fay which we ought moft to admire, the variety and excellence of his talents, or the fuccefs with which they were crowned. By a comprehenfive difcernment of the political interefts of Europe; by penetration into the characters of individuals; by addrefs in negotiation, he cemented states and princes, whofe interefts and prejudices feemed moft oppofite and irreconcilable. By the firmnefs of his refolution; by fortitude under the moft difaftrous events; by fertility of expedients, he at laft furmounted every difficulty; chaftifed the ambition of Lewis; exhaufted the ftrength of France; and wrought the deliverance of Holland, England, Spain, and the Empire. As the most illuftrious fame is annexed to exploits in the caufe of liberty, fo, without a nearer in fight into character, we are at a lofs to decide, in particular infances, whether they refult from the fordid motives of felf intereft and ambition, or the more exalted ones of virtue and public fpirit. That the love of liberty was predominant in the character of William; that his ambition was under the direction of principle, and fubfervient to the caufe of juftice and the rights of mankind; is attefied by the uniform tenour of his actions. Private emolument was with him no confideration, when the interest of his country was at flake. The alluring bait of royalty he repelled with difdain, when propofed to him, upon terms ruinous to the freedom of his country. His acceffion to the throne of England will appear no argument against this conclufion, with thofe who confider, not only how important it was to her de. liverance, but that it was an effential link in the chain of measures, which was to connect and establish the liberties of Europe. If William had not afcended the throne of England, the grand alliance could never have been completed, and rendered efficient to overpower the armies of France, aided by James, mafter of the liberties of his fubjects. That liberality of defign, which dignified his negociations and extended his influence upon the continent, was no lefs confpicu By an ous in the scheme of his domeftic policy and government. impartial difpenfation of favours to all parties in Holland and England, he moderated their violence, and employed their united ftrength in the defence of public liberty. No fastery, nor zeal for his perfonal aggrandifement, ever feduced him to give fcope to the refentment or ufurpation of any party. It was the defire of his heart to accomplish the most extenfive plan of religious toleration; and, though he found himself thwarted by the prejudices of the people, yet he never relinquished his liberal purpofes from the dread of obloquy or mifreprefentation. His opinion, in questions of the greatest political moment, he maintained with a firmness, rather honourable to his character, than favourable to his intereits. That his respect for religion was not feigned and political, but fincere and conftant, appeared, not only from his regular and decent attendance upon the duties of focial worship, but from the time and attention he allotted to private devotion. It was remarked, that he never mentioned the truths of religion, but with ferioufnefs and veneration; and that he expreffed, upon all occafions, indignation against examples of profanenefs and licentioufnels. He maintained great equanimity under all viciffitudes of fortune; being neither immoderately elated with profperity, nor dejected with adverfity. Often fretted by the rudeness of faction, and the jealoufy and difcontents of his fubjects, he ftill regulated his temper by the dictates of prudence, and refigned his private inclina ions and interests for the fake of public peace. Though liable to fudden fallies of anger, yet he never harboured refentment in his breaft; and he even treated fome of thofe perfons, from whom he had received the highest perfonal injuries, with mildness and generofity. To fum up his talents and his virtues: he poffeffed great natural fagacity, a retentive memory, a quick and accurate dif cernment of the characters of men. He was active, brave, perfe vering; and, to thefe qualities more than to his fkill as a general, he was indebted for his military fuccefs. His knowledge in politics was extenfive and profound; his application to bufinefs ardent and indefatigable. An enufiaflic lover of liberty, he was ever true to his principles; faithful in the discharge of every trust committed to him; and in the characters of the fatefnan and general, acquired the confidence and praife of his friends, and excited the admiration and dread of his enemics. His talents and virtues belonged to the refpectable, rather than to the amiable clafs; and were formed to command efteem, more than to engage affection. For literature and the fine arts he difcovered no tafte. He had acquired none of thofe graces which animate converfation, and em. belih character. A filence and referve, bordering upon fullennefs, adhered to him, in the more retired fcenes of life, and feemed to indicate not only a diftafte for fociety, but a distrust of mankind. He was greatly deficient in the common forms of attention. His favours loft much of their value, by the coldness of the manner with which he conferred them. He did not enough accommodate himfelf to the open temper of a people, who had fo freely devoted their allegiance to him. His warm and feady attachment to a few friends friends demonftrated that he was not deftitute of private friendship. He was occafionally furprised into indulgences of mirth and humour; which fhewed, that he was not infenfible to the relaxation of focial amufement. But the infirmities of his conftitution; the depreffion of his early fituation; a fatal experience of deceitfulness and treachery, derived from his political intercourse with mankind, the ferioufnefs and weight of thofe objects, which continually preffed down his mind, controlled a propenfity, however ftrong, to confidence, affability, and pleafantry, and introduced habits of constraint and gravity, which draw a veil over the attractions of virtue; and frequently contribute, more than vicious affections, to render character unpopular. It would, perhaps, be difficult to felect, from the various and wide range of biography, any two characters, which form a more perfect contraft, than that which opens, and that which closes, the period of this history. In the character of Charles the Second, we are ftruck with a brilliancy of wit, and gracefulness of manners, deftitute of any one ingredient of principle or virtue; with politeness, affability, gaiety, good humour, every thing that captivates imagination, or gives delight for the moment. In the character of William, we turn our eyes to fterling merit, naked and unadorned; to ftern integrity, incorruptible patriotifm, undaunted magnanimity, unfhaken fidelity; but no fplendid dress or gaudy trapping, to arreft the attention of the fuperficial obferver. A deliberate effort of the understanding is neceffary to perceive and eftimate its deferts. Charles, with all his vices, was beloved while he lived, and lamented when he died. William, with all his virtues, refpected abroad, refpected by pofterity, never obtained, from his fubjects and contemporaries at home, the tribute of affection and praife, adequate to the merit of his virtues, and the importance of his fervices.' We must not take our leave of this publication without declaring ourselves, in the most explicit terms, highly fatisfied with it, as a clear, judicious, and impartial, view of the political state of this country during the period on which it treats; written in a manner that at once difcovers an extenfive and accurate acquaintance with facts, and enlarged and liberal fentiments on the great fubjects of civil policy. E ART. IV. A Review of Dr. Price's Writings, on the Subject of the Finances of this Kingdom; to which are added, The Three Plans communicated by him to Mr. Pitt in the Year 1786, for redeeming the National Debt: And alfo, An Enquiry into the real State of the Public Income and Expenditure, from the Establishment of the Confolidated Fund to the Year 1791. By William Morgan, F. R. S. 8vo. pp. 72. 25. Cadell. 1792. THE HE public will perceive, from this work, how much the 9 name name many who call themselves its friends affect to defpife. It contains three different plans, which he formed for redeeming the national debt, with explanations and remarks. Thele plans were laid before Mr. Pitt, and the fubject was freely dif cuffed, both by letter and converfation, between the Minifter and Dr. Price. The third, and the weakeft, of thefe plans, was at length preferred, and has, in consequence, been establifhed by the legislature. Of the cause of this preference, Mr. Morgan gives the following account: The chief and indeed the only objection which Mr. Pitt feemed to entertain against the two first plans, was the gradual increase which they required by new taxes in the course of five years of the million furplus to a million and a half. This was more than he then chofe to undertake. An addition however of 800,000l. has been fiace made to the taxes, and had this been done in the year 1786 with a view to the execution of the fcheme, the nation might by this time have been encouraged by feeing a real and confiderable diminution of its debts, and a proof would have been given that it was at least poffible completely to deliver the kingdom from the dangers with which they threatened it. But Mr. Pitt did not think it expedient to diftinguish his adminiftration by meafures fo ftrong and effectual. He adopted the weakest plan, which he has rendered ftill weaker by checking its operations at the moment when it will be making the quickest progrefs towards the discharge of the public debt.' Mr. M. adds the following remarks on the plan now adopted: From the infpeclion of this plan it appears that, with the aid of the temporary annuities, the appropriated million will in 26 years increafe to four millions per ann. and redeem above 56 millions of flock, and that in forty years it will increafe to more than fix millions per ann. and redeem 126 millions of stock. But it is directed by a claufe in the act of parliament which has established this plan, that the accumulation of the fund fhall be limited to four millions a year, and confequently that the operation of compound. intereft fhall be changed into that of fimple intereft just at the time when it would have redeemed a greater portion of the debt in the next 14 years than it had done in the 26 preceding years. By another claufe in this act, it is alfo directed, that whenever, in a time of war, or other particular emergency, the nation is put to extraordinary expences, the produce of the Sinking Fund shall be taken as far as that will go towards bearing thofe expences, provided a new tax is laid that fhall produce an annual fum equal to the interest of that part of the public debt which would have been redeemed had that fum not been taken from the fund. By this claufe a ftill greater injury will be done to the plan than by the former. For in times of war and extraordinary expence the great difficulty in finding money confifts in finding taxes for paying the intereft, intereft, and the event will probably be, that the produce of the fund being ready for feizure will be taken from it, and the new tax be either not brought in without delay as it ought, or prove unequal to the intereft of the fum which has been alienated. It may not be improper to obferve that the prefent plan fup. poles the four per cents. to be bought at par from the end of the third to the beginning of the 16th year, or that the money appropriated for redemption is improved during that term at 4 per cent. ; and that the five per cents. are bought at par for the next 8 years. The price of Stock in the 4th and 5th years admitted of the four per cents. being bought confiderably under far. But the purchases have been uniformly made in the three per cents. with the view probably of quickening the time in which the five per cents. fhall become redeemable. Confequently the plan has hitherto effected lefs than is ftated in the Table, and were the purchases to be continued in the three per cents. at the price at which they now bear (or 96), the appropriated million and its prefent increafe would not in the courfe of the next 20 years difcharge as much debt as is there ftated by four millions and a half. The addition therefore which the Minifter propofes to make to the million furplus ought by no means to be confidered as fo much addition to the fum originally propofed. It is neceffary to increase the million to 1,165,cool. even to make up the deficiency which is produced by improving money at 3 per cent. infiead of improving it, as the plan fuppofes, at four and five per cent., and were the million to be increafed to 1,200,000l. the amount of the principal fcharged in the courfe of the next twenty years, would not exceed what is ftated in the table by as much as one million. Admitting, therefore, that by the reduction of the four per cents. or by a real furplus in the revenue, the fum of 200,000l. may be fairly added to the million already appropriated for the difcharge of the national debt, I fee no great matter for triumph in fuch an addition. Its operations are altogether inconfiderable, and the whole plan is fliil weak and ineffectual. Compared, however, with what Mr. Pitt at firft intended to have eftablished, it deferves refpect, and though enfeebled and mutilated by his alterations, it has done fo much good, that we have only to regret that the other more powerful and efficient plan which had been to trongly recommended by Dr. Price, was not adopted.' Mr. M. does not fcruple to give it as his opinion that such fervices, as Dr. Price rendered to the ftate, ought to have been publicly acknowleged; and he complains (furely not without reafon,) that the Doctor was treated with worse than cold filence, at the very time when Government was profiting by his advice, and carrying his plan into execution. Mr. M. has alfo drawn up a comparative view of the public income and expenditure, from the establishment of the plan for redeeming the national debt, to the year 1791. With regard to the years 1788 and 1789, (the laft year of Dr. Price's inte,) the Doctor made the following ftatement and remarks: |