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Click Here To Edit 2 Letter I.X. Penitentiary - houses - Economy. Contract - Plan.
you will presently see more material reasons, to counterballance the seeming
unthriftiness of granting him a term, which may prove so long an one. In
other respects, the terms of the contract must, or course, depend upon the
proportion of capital, of which the contract gave him the use. Supposing
the advance to amount to the whole manufacturing stock, he must of course
either pay something for his contract, or be contented with a share of
the gross profits, instead of the whole: unless that from such profits
an interest upon the capital so advanced to him, should be deducted;
in which case, no body, I suppose would grudge him the whole
neat profit after such deduction, even though the rate of interest were
much below the ordinary one: the difference, between such reduced
rate of interest and the ordinary one, would constitute the whole of the
expence which the public would be at. Suppose, to speak at random,
this expence were to amount to 6, 8, 10.000£ a year for
the 3000 Convicts which, it was computed, would be the standing
number, to be maintained in England. (a) I should not imagine, that such
a sum as even this latter would be much grudged. I fancy the intended expedition
to Botany Bay, of which I am just apprised, will be rather more
expensive. Not that it appears to me that the nation would remain
saddled with such an expence as this at the longrun; or, indeed,
(a) According to the Hard-Labour- Bill, 2865. See the Table to my
of that Bill: since then, I fear, the number has rather encreased than diminished
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