Pocket Expences for the Master of the Family, supposed to be about four Shillings per Week: 10 l. 8s.
For the Mistress of the Family, and for the four Children to buy Fruit and Toys, etc. at two Shillings per Week: 5 l. 4 s.
Entertainments in return of such Favours from Friends and Relations: 4 l.
Physick for the whole Family one Year with another, and the extraordinary Expence arising by illness, may be much more than:
6 l.
A Country Lodging sometimes for the Health and Recreation of the Family, or instead thereof, the extraordinary Charge of nursing a Child abroad, which in such a Family is often thought needful: 8l.
[Sub-total] 225 l. 12 s.
Rent and Taxes may be somewhat more or less than: 50 l.
Expences of Trade with Customers, and travelling Charges, Christmas-Box-Money, and Postage of Letters, etc. for the sake of even Money, at least: 19 l. 8 s.
Bad Debts which may easily be more than 2 per cent on the supposed Capital of L. 1000: 20 l.
[Sub-Total] L. 315.
There must be laid up, one Year with another, for twenty Years, in order to leave each Child, and a Widow if there should be one, L. 500: 75 l.
L. 1000 therefore by this Estimate should gain one Year with another: 390 l.
Which for the sake of a round Sum I will call 40 per cent per Annum, in order to support such a Family, and provided L. 500 a Piece for four Children, and a Widow, if there should be one left, which if not, will augment each Child's Share but L. 125.
And here I suppose a Man to live twenty Years from his Marriage to his Demise, which take to be about the term one Man or Woman with another doth live. I don't mean by this that no Man or Woman lives longer from the Time of Marriage than twenty Years; I know many live much longer; but I am equally certain that as many never reach this Term as others live beyond it. And it will also many Times happen, that 5, 6, 7, 8 or more Children must be brought up by some Parents, tho' perhaps it will more frequently happen that less than four will be raised by others.
But those that shall happen to have seven or eight Children, will find the 75 l. per Ann. supposed in this Estimate to be laid up, in order to provide 500 l. a Piece for four Children, hardly sufficient to bear the extraordinary Charge, which so many more Children will occasion in this Rank of Living. And surely it must be very hard, that the Man who happens to have a numerous Family (and many such there always are) should thereby be render'd not only uncapable to provide any Thing for them to set out in the World with, but be reduced in a Course of Years, as he certainly must, if L. 1000 in Trade will not produce at least 40 per cent per Annum.
But I have not produced this Estimate, only to shew what is the needful charge for the decent Support of such a Family in this Rank of Life, but chiefly to shew that our Trade is in a much worse State than it was about forty or fifty Years ago: For then it was a very common Thing for People, from small Beginnings to raise L. 5000 or more for each Child, tho' the Families were as large as my Estimates supposes: Which is a Truth so well known, that I shall not attempt any Proofs of it, but take it for granted, not doubting that the Observation of the aged and judicious Tradesman will allow it me: and further concur, that the State of Trade in general will now by no means admit of ****** 40 per cent per ann. on a Capital of L. 1000 or perhaps hardly more than half as much. Yet I will not say there are no Instances of such Profits; for perhaps such there will be, as long as there is Trade amongst us: But I am certain they are few, and hard to be found or guess'd at, there being too many People in almost every Occupation to admit of such Gains. And I am as certain, that the Instances of raising pretty Fortunes for Children, about forty or fifty Years ago, from very small Beginnings, were vastly more numerous than any are to be found, at this Time, that can make any thing near 40 per cent per annum on a capital of L. 1000. And therefore, I think, I may justly conclude, that Trade is now in much worse Circumstances than it formerly was. But were our Trade to be put on the Foot I am pointing out, less than 30 per cent per annum on such a Capital, wou'd be as sufficient for the Support and Provision of such a Family, as 40 per cent per annum is, as the Prices of Things now go: And then the Demand for, and Consumption of every Thing would be so much augmented, that it would be as easy to make 30 per cent per ann. on such a Capital, as it is now to make 20; for then our Trade would be in that flourishing State I am aiming at.
But from what I have now said, and also from this Estimate, it must appear, that the Wealthy have the Business and Affairs of the trading Part of the People transacted, on Terms as much below the reasonable and just Value thereof, as the Profits such a Sum will generally make, are less than the Estimate shews to be needful for a middling Family in this Rank of Life. Therefore such diffusing Property amongst the People in general, as hath been before in this Essay represented, is absolutely needful, not only for the Sake of the labouring People, but for the trading Part too; who together undoubtedly are more than 19 Parts in 20of the People of the Kingdom;(32*) the Generality of whom, by the several Estimates, appear to be in equal Difficulties, in Proportion to their Stations in Life. And if so, is there any room to wonder at the Misery we see amongst the Poor, or the Ruin which so frequently befals the middling People; since by both the Estimates it appears, the Nature of Things, in our present Circumstances, is so big with these Evils, that we may much rather wonder the Misery and Ruin are not universal?
Again it must appear by this Estimate, that if 1000 l.