Page:The Works of the Rev. Jonathan Swift, Volume 4.djvu/121

Rh allowing in the least for any difference in government, religion, law, custom, extent of country, or manners and dispositions of the people.

But when this expedient of anticipations and mortgages, was first put in practice, artful men, in office and credit, began to consider what uses it might be applied to; and soon found it was likely to prove the most fruitful seminary, not only to establish a faction they intended to set up for their own support, but likewise to raise vast wealth for themselves in particular, who were to be the managers and directors in it. It was manifest, that nothing could promote these two designs so much, as burdening the nation with debts, and giving encouragement to lenders: for, as to the first, it was not to be doubted that monied men would be always firm to the party of those, who advised the borrowing upon such good security, and with such exorbitant premiums and interest; and every new sum that was lent, took away as much power from the landed men, as it added to theirs: so that, the deeper the kingdom was engaged, it was still the better for them. Thus a new estate and property sprung up in the hands of mortgagees, to whom every house and foot of land in England paid a rent-charge, free of all taxes and dafalcations, and purchased at less than half value. So that the gentlemen of estates were, in effect, but tenants to these new landlords; many of whom were able, in time, to force the election of boroughs out of the hands of those who had been the old proprietors and inhabitants. This was arrived at such a height, that a very few years more. IV.