Trade and Manufacture in 1816

When we turn from agriculture to the other industries
of the country, the influence of the violent change of
industrial conditions produced by the war becomes the
predominant feature. A little calculation will help us to
realise how violent was the transition. Between 1802 and
1815 the war expenditure increased the National Debt at



12 THE MAKING OF MODERN ENGLAND

an average rate of ;^30,ooo,ooo per annum, in addition to
necessitating a crushing burden in taxation. Towards the
end of the period the expenditure out of loan reached
;^5o,ooo,ooo for several years in succession. The money
so raised was, of course, mostly spent on the employment
of men as soldiers, sailors and other ministers to the needs
of war. Even in the case of subsidies, the money was
directly spent in the employment of British industrial
labour, the subsidies being paid in ammunition, clothing
aijd other equipment. The effect of the sudden cessation
of Government expenditure to the amount of over
;^5o,ooo,ooo, mainly raised by loan, may be guessed when
we consider how great that expenditure was in proportion
to the total power of wealth production in the country.
