Alexandria Gazette & Daily Advertiser

FURTHER PARTICULARS
Of the late news from England, received per ship Martha, at the office of the New-York Commercial Advertiser—Continued.

BRITISH FINANCES

If we are to believe the London Times, (the leading opposition paper) the almost insupportable debt of the British nation, is rapidly accumulating, notwithstanding the state of universal peace and repose. We are now, says the Times, adding more to the national debt annually, than we did at the beginning of the war under Mr. Pitt's administration. We are now also adding more to a national debt of 800,000,000 pounds than we were then adding to a debt of 240,000,000; and the money to pay this accumulating interest is now to be taken from an exhausted people, which at the beginning of the war was drawn from a population comparatively wealthy and at ease. In March, 1793, Mr. Pitt supplied the deficiency of the ordinary ways and means by a loan of 4,500,000 pds: and the issue of 4,000,000 pds. of exchequer bills. We, this year fund, or add to the affixed debt, 7,000,000 pds. of exchequer bills. (not, we fear, long to leave the market so far bear of that commodity); and we borrow, as may hereafter be wanted, five or seven millions; one sum being half a million, and the other 2 millions, more than we borrowed in the year 1793; and we besides appropriate 12 millions of the sinking fund. In 1796, the third year of the war, we contracted a debt of 18,000,000 pds. In 1820, the fifth year of the peace, we borrow 12,000,000 pds. from the sinking fund, and between 5 and 7 millions from the contractors; making between 17 and 19 millions; in one case but one million less, and in the other a million more, than in 1796. Where will this system have an end?

The Marquis of Lansdowne, in a speech delivered on the 2d of June, mentioned the circumstances of a bank having failed, in the south of Ireland, in the sum of about 300,000 pounds, which it was supposed would not be able to pay one shilling on the pound. The editor of the London Times says, he is not an advocate for increasing the number of penal statutes; but he should not be sorry if a law were enacted, declaring parties, in such transactions, to be guilty of something more than mere insolvency. [It seems by this, that after all our boasting, the British will excel us in some of the fine arts.]