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and improvement of nations has generally encreased with the encrease of their revenues; and they will both continue to grow and flourish, as long as the balance between what is left to strengthen the efforts of individuals, and what is collected for the common efforts of the state, bear to each other a due reciprocal proportion, and are kept in a close correspondence and communication. And perhaps it may be owing to the greatness of revenues, and to the urgency of state necessities, that old abuses in the constitution of finances are discovered, and their true nature and rational theory comes to be more perfectly understood ; insomuch, that a smaller revenue might have been more distressing in one period than a far greater is found to be in another; the proportionate wealth even remaining the same. In this state of things, the French assembly found something in their revenues to preserve, to secure, and wisely to administer, as well as to abrogate and alter. Though their proud assumption might justify the severest tests, et in trying their abilities on their financial proceedings, I would only consider what is the plain obvious duty of a common finance minister, and try them upon that, and not upon models of ideal perfection.

The objects of a financier are, then, to secure an ample revenue; to impose it with judgment and equality ; to employ it economically; and when necessity obliges him to make use of credit, to secure its foundations in that instance, and for ever, by the clearness and candour of his proceedings, the exactness of his calculations, and the solidity of his funds. On these heads we may take a short and distinct view of the merits and abilities of those in the National Assembly, who have taken to themselves the management of this arduous concerns.

Far from any encrease of revenue in their hands, I find by a report of M. Vernier, from the committee of finances, of the second of August last, that the amount of the national revenue, as compared with its produce before the revolution, was diminished by the sum of two hundred millions, or eight millions sterling of the annual income, considerably more than one-third of the whole !

If this be the result of great ability, never surely was ability displayed in a more distinguished manner, or with 80 powerful an effect. No common folly, no vulgar inca

pacity, no ordinary official negligence, even no official crime, no corruption, no peculation, hardly any direct hostility which we have seen in the modern world, could in so short a time have made so complete an overthrow of the finances, and with them, of the strength of a great kingdom.-Cedò qui vestram rempublicam tantam amisistis tam cito?

The sophisters and declaimers, as soon as the assembly met, began with decrying the ancient constitution of the revenue in many of its most essential branches, such as the public monopoly of salt. They charged it, as truly as unwisely, with being ill-contrived, oppressive, and partial. This representation they were not satisfied to make use of in speeches preliminary to some plan of reform; they declared it in a solemn resolution or public sentence, as it were judicially, passed upon it; and this they dispersed throughout the nation, At the time they passed the decree, with the same gravity they ordered this same absurd, oppressive, and partial tax to be paid, until they could find a revenue to replace it. The consequence was inevitable. The provinces which had been always exempted from this salt monopoly, some of whom were charged with other contributions, perhaps equivalent, were totally disinclined to bear any part of the burthen, which by an equal distribution was to redeem the others. As to the assembly, occupied as it was with the declaration and violation of the rights of men, and with their arrangements for general confusion, it had neither leisure nor capacity to contrive, nor authority to enforce any plan of any kind relative to the replacing the tax or equalizing it, or compensating the provinces, or for conducting their minds to any scheme of accommodation with the other districts which were to be relieved.

The people of the salt provinces, impatient under taxes damned by the authority which had directed their payment, very soon found their patience exhausted. They thought themselves as skilful in demolishing as the assembly could be. They relieved themselves by throwing off the whole burthen. Animated by this example, each district, or part of a district, judging of its own grievance by its own feeling, and of its remedy by its own opinion, did as it pleased with other taxes.

We are next to see how they have conducted themselves in contriving equal impositions, proportioned to the mea ús of the citizens, and the least likely to lean heavy on the active capital employed in the generation of that pri. vate wealth, from whence the public fortune must be derived. By suffering the several districts, and several of the individuals in each district, to judge of what part of the old revenue they might withhold, instead of better principles of equality, a new inequality was introduced of the most oppressive kind. Payments were regulated by dispositions. The parts of the kingdom which were the most submissive, the most orderly, or the most affectionate to the commonwealth, bore the whole burthen of the state. Nothing turns out to be só oppressive and unjust as a feeble government. To fill up all the deficiencies in the old impositions, and the new deficiencies of every kind which were to be expected, what remained to a state with=' out authority? The National Assembly called for a volun. tary benevolence; for a fourth part of the income of all the citizens, to be estimated on the honour of those who were to pay. They obtained something more than could be rationally calculated, but what was far, indeed, from answerable to their real necessities, and much less to their fond expectations. Rational people could have hoped for little from this their tax in the disguise of a benevolence; a tax, weak, ineffective, and uuequal; a tax by which luxury, avarice, and selfishness were screened, and the load thrown upon productive capital, upon integrity, generosity, and public spirit-à tax of regulation upon virtue. At length the mask is thrown off, and they are now trying means (with little success) of exacting their benevolence by force.

This benevolence, the ricketty offspring of weakness, was to be supported by another resource, the twin brother of the same prolific imbecility. The patriotic donations were to make good the failure of the patriotic contribution. John Doe was to become security for Richard Roe. By this scheme they took things of much price from the giver, comparatively of small value to the receiver; they ruined several trades; they pillaged the crown of its ornaments, the churches of their plate, and the people of their personal decorations. The invention of these juvenile pretenders

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to liberty, was in reality nothing more than a servile imitation of one of the poorest resources of doting despotism. They took an old huge full-bottomed perriwig out of the wardrobe of the antiquated frippery of Louis XIV. to cover the premature baldness of the National Assembly. They produced this old-fashioned formal folly, though it had been so abundantly exposed in the memoirs of the Duke de St. Simon, if to reasonable men it had wanted any arguments to display its mischief and insufficiency. A device of the same kind was tried in my memory by Louis XV. but it answered at no time. However, the necessities of ruinous wars were some excuse for desperate projects. The deliberations of calamity are rarely wise. But here was a season for disposition and providence. It was in a time of profound peace, then enjoyed for five years, and promising a much longer continuance, that they had recourse to this desperate trifling. They were sure to lose more reputation by sporting, in their serious situation, with these toys and playthings of finance, which have filled half their journals, than could possibly be compensated by the poor temporary supply which they afforded. It seemed as if those who adopted such projects were wholly ignorant of their circumstances, or wholly unequal to their necessities. Whatever virtue may be in these devices, it is obvious that neither the patriotic gifts, nor the patriotic contribution, can ever be resorted to again. The resources of public folly are soon exhausted. The whole indeed of their scheme of revenue is to make, by any artifice, an appearance of a full reservoir for the hour, whilst at the same time they cut off the springs and living fountains of perennial supply. The account not long since furnished by Mr. Necker was meant, without question, to be favourable. He gives a flattering view of the means of getting through the year; but he expresses, as it is natural he should, some apprehension for that which was to succeed. On this last prognostic, instead of entering into the grounds of this apprehension, in order, by a proper foresight, to prevent the prognosticated evil, Mr. Necker receives a sort of friendly reprimand from the president of the assembly.

As to their other schemes of taxation, it is impossible to say any thing of them with certainty, because they have not yet had their operation; but nobody is so sanguiue as to imagine they will fill up any perceptible part of the wide gaping breach which their incapacity has made in their revenues. At present the state of their treasury sinks every day more and more in cash, and swells more and more in fictitious representation. When so little within or without is now found but paper, the representative not of opulence but of want, the creature not of credit but of power, they imagine that our flourishing state in England is owing to that bank-paper, and not the bank-paper to the flourishing condition of our commerce, to the solidity of our credit, and to the total exclusion of all idea of power from any part of the transaction. They forget that, in England, not one shilling of páper-money of

any description is received but of choice; that the whole has had its origin in cash actually deposited; and that it is convertible, at pleasure, in an instant, and without the smallest Joss, into cash again. Our paper is of value in commerce, because in law it is of none. It is powerful on Change, because in Westminster-hall it is impotent. In payment of a debt of twenty shillings, a creditor may refuse all the paper of the bank of England. Nor is there amongst us a single public security, of any quality or nature whatsoever, that is enforced by authority. In fact it might be easily shewn, that our paper wealth, instead of lessening the real coin, has a tendency to increase it; instead of being a substitute for money, it only facilitates its entry, its exit, and its circulation; that it is the symbol of prosperity, and not the badge of distress. Never was a scarcity of cash, and an exuberance of paper, a subject of complaint in this nation.

Well! but a lessening of prodigal expences, and the economy which has been introduced by the virtuous and sapient assembly, makes amends for the losses sustained in the receipt of revenue. In this at least they have fulfilled the duty of a financier. Have those, who say so, looked at the expences of the National Assembly itself, of the municipalities, of the city of Paris, of the increased pay of the two armies, of the new police, of the new judicatures ? Have they even carefully compared the present pensionlist with the former? These politicians have been cruel, not economical. Comparing the expences of the former prodigal government and its relation to the then revenues

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