government for fivepence-halfpenny in paper currency,- the-
real coft was little more than fourpence-halfpenny.
The amount of bills drawn for the contingent and extraordinary
expences of the army, from the lit of October 1795,
when the colony was takes, to the 28th of July 1802, the
time it ihould have been evacuated, as appears from the Deputy
Paymafter’s books, is 1,045,81-4/. 14-f. i d upon part of which-
(for part was drawn at par for fpecie) the profit derived to his
Majefty’s government amounts to the fum of 115,719/. 3s. \di
. Another fource of profit, which might have been very con-
fiderable, was derived from the importation of fpecie. The
fubfiftence- of the foldiers, it may be obferved, was always paid
in hard money, and not in paper currency. The Spanifh dollar
was ilfuedin payment to the troops' at the rate of five ihillings
fterlisg, which I imagine might have been purchafed and' fent
cut at four ihillings and fourpence each, making thus a profit
©f more than fifteen per cent. 011 the pay, as well as on the
extraordinaries, of the army. The fum that was thus imported
amounted to 103,426/. 18t. 3 d Upon whieh, fuppofmg the
whole fent out by government, which I unJeritand was not
exadfly the cafe, though- nearly fo, the profits muft have been
15,514/. at home, befidesan additional profit of 710/. 13s. 3 d
axifing from, a fmall quantity of fpecie bought in the Cape.
The government alfo fent out about four thoufand' pounds of
copper money, in penny pieces, which were circulated at twopence,
from which there was confequcntly another profit derived
of 4.000 li
* 3 Shortly
Shortly after the capture of the Cape, General Craig, finding
h impoffible to raife, upon bills, a fufficient fum of paper currency
to defray the extraordinaries of the army, was reduced
to the bold meafure of ilamping a new1 paper iffue, on the credit
of the Britilh government, to the amount of fifty thoufand
pounds ; a fum that was never redeemed from circulation, nor
brought to any account, until the final reftoration of the colony.
So that the intereft of this fum for feven years produced a further
profit to government of 17,500 /.
By taking thefe fums together, namely,
Profit on bills drawn - £ . 115,719 3 r
on fpecie imported - 16,224 J3 3'
on copper money - 4,000 o o
on paper money circulated 17,500 o o
We have £ . 153,443 16 4
which may be confidered as a clear gain to the government,
(independent of the faving on each ration) and, confequentiy,
a leflening of the expenditure that was occafioned at the Cape
of Good Hope.
As this expenditure has beemftated to be £b enormous, as more-
than to- counterbalance the advantages refulting fronvthe pof-
felfion of the fettlement, and we have already feen how important
thefe advantages are, when confidered in only one
point of view, it may not be amifs to point out, in as correit a.
manner as the nature of the fubjefl; will admit, the exad fum
expended