A noble indignation rises in the minds of your popular leaders, on hearing the magic lanthorn in their shew of finance compared to the fraudulent exhibitions of Mr. Law. They cannot bear to hear the sands of his Mississippi compared with the rock of the church, on which they build their system. Pray let them suppress this glorious spirit, until they shew to the world what piece of solid ground there is for their assignats, which they have not pre-occupied by other charges. They do injustice to that great, mother fraud, to compare it with their degenerate imitation. It is not true that Law built solely on a speculation concerning the Mississippi. He added the East India trade; he added the African trade; he added the farms of all the farmed revenue of France. All these together unquestionably could not support the structure which the public enthusiasm, not he, chose to build upon these bases. But these were, however, in comparison, generous delusions. They supposed, and they aimed at an increase of the commerce of France. They opened to it the whole range of the two hemispheres. They did not think of feeding France from its own substance. A grand imagination found in this flight of commerce something to captivate. It was wherewithal to dazzle the eye of an eagle. It was not made to entice the smell of a mole, nuzzling and burying himself in his mother earth, as yours is. Men were not then quite shrunk from their natural dimensions by a degrading and sordid philosophy, and fitted for low and vulgar deceptions. Above all remember, that in imposing on the imagination, the then managers of the system made a compliment to the freedom of men. In their fraud there was no mixture of force. This was reserved to our time, to quench the little glimmerings of reason which might break in upon the solid darkness of this enlightened age.

On recollection, I have said nothing of a scheme of finance which may be urged in favour of the abilities of these gentlemen, and which has been introduced with great pomp, though not yet finally adopted in the national assembly. It comes with something solid in aid of the credit of the paper circulation; and much has been said of its utility and its elegance. I mean the project for coining into money the bells of the suppressed churches. This is their alchymy. There are some follies which baffle argument; which go beyond ridicule; and which excite no feeling in us but disgust; and therefore I say no more upon it.

It is as little worth remarking any farther upon all their drawing and re-drawing, on their circulation for putting off the evil day, on the play between the treasury and the Caisse d'Escompte, and on all these old exploded contrivances of mercantile fraud, now exalted into policy of state. The revenue will not be trifled with. The prattling about the rights of men will not be accepted in payment for a biscuit or a pound of gun-powder. Here then the metaphysicians descend from their airy speculations, and faithfully follow examples. What examples? The examples of bankrupts. But defeated, baffled, disgraced, when their breath, their strength, their inventions, their fancies desert them, their confidence still maintains its ground. In the manifest failure of their abilities, they take credit for their benevolence. When the revenue disappears in their hands, they have the presumption, in some of their late proceedings, to value themselves on the relief given to the people. They did not relieve the people. If they entertained such intentions, why did they order the obnoxious taxes to be paid? The people relieved themselves in spite of the assembly.

But waving all discussion on the parties who may claim the merit of this fallacious relief, has there been, in effect, any relief to the people in any form? Mr. Bailly, one of the grand agents of paper circulation, lets you into the nature of this relief. His speech to the national assembly contained a high and laboured panegyric on the inhabitants of Paris for the constancy and unbroken resolution with which they have borne their distress and misery. A fine picture of public felicity! What! great courage and unconquerable firmness of mind to endure benefits, and sustain redress! One would think from the speech of this learned lord mayor, that the Parisians, for this twelvemonth past, had been suffering the straits of some dreadful blockade; that Henry the Fourth had been stopping up the avenues to their supply, and Sully thundering with his ordnance at the gates of Paris; when in reality they are besieged by no other enemies than their own madness and folly, their own credulity and perverseness. But Mr. Bailly will sooner thaw the eternal ice of his atlantic regions, than restore the central heat to Paris, whilst it remains "smitten with the cold, dry, petrific mace" of a false and unfeeling philosophy. Some time after this speech, that is, on the thirteenth of last August, the same magistrate, giving an account of his government at the bar of the same assembly,

expresses himself as follows: "In the month of July 1789," [the period of everlasting commemoration,] "the finances of the city of Paris were yet in good order; the expenditure was counterbalanced by the receipt, and she had at that time a million" [forty thousand pounds sterling] "in bank. The expenses which she has been constrained to incur, subsequent to the revolution, amount to 2,500,000 livres. From these expenses, and the great falling off in the product of the free gifts, not only a momentary, but a total want of money has taken place." This is the Paris, upon whose nourishment, in the course of the last year, such immense sums, drawn from the vitals of all France, have been expended. As long as Paris stands in the place of ancient Rome, so long she will be maintained by the subject provinces. It is an evil inevitably attendant on the dominion of sovereign democratic republics. As it happened in Rome, it may survive that republican domination which gave rise to it. In that case despotism itself must submit to the vices of popularity. Rome, under her emperours, united the evils of both systems; and this unnatural combination was one great cause of her ruin.

To tell the people that they are relieved by the dilapidation of their public estate, is a cruel and insolent imposition. Statesmen, before they valued themselves on the relief given to the people by the destruction of their revenue, ought first to have carefully attended to the solution of this problem:-Whether it be more advantageous to the people to pay considerably, and to gain in proportion; or to gain little or nothing, and to be disburthened of all contribution? My mind is made up to decide in favour of the first proposition. Experience is with me, and, I believe, the best opinions also. To keep a balance between the power of acquisition on the part of the subject, and the demands he is to answer on the part of the state, is a fundamental part of the skill of a true politician. The means of acquisition are prior in time and in arrangement. Good order is the foundation of all good things. To be enabled to acquire, the people, without being servile, must be tractable and obedient. The magistrate must have his reverence, laws their authority. The body of the people must not find the principles of natural subordination by art rooted out of their minds. They must respect that property of which they cannot partake. They must labour to obtain what by labour can be obtained; and when they find, as they commonly do, the success disproportioned to the

the

endeavour, they must be taught their consolation in the final proportions of eternal justice. Of this consolation whoever deprives them, deadens their industry, and strikes at the root of all acquisition as of all conservation. He that does this is the cruel oppressor, the merciless enemy of the poor and wretched; at the same time that by his wicked speculations he exposes the fruits of successful industry, and the accumulations of fortune, to the plunder of the negligent, the disappointed, and the unprosperous.

Too many of the financiers by profession are apt to see nothing in revenue but banks, and circulations, and annuities on lives, and tontines, and perpetual rents, and all the small wares of the shop. In a settled order of the state, these things are not to be slighted, nor is the skill in them to be held of trivial estimation. They are good, but then only good, when they assume the effects of that settled order, and are built upon it. But when men think that these beggarly contrivances may supply a resource for the evils which result from breaking up the foundations of public order, and from causing or suffering the principles of property to be subverted, they will, in the ruin of their country, leave a melancholy and lasting monument of the effect of preposterous politics, and presumptuous, shortsighted, narrow-minded wisdom.

The effects of the incapacity shewn by the popular leaders in all the great members of the commonwealth are to be covered with the "all-atoning name" of liberty. In some people I see great liberty indeed; in many, if not in the most, an oppressive degrading servitude. But what is liberty without wisdom, and without virtue? It is the greatest of all possible evils; for it is folly, vice, and madness, without tuition or restraint. Those who know what virtuous liberty is, cannot bear to see it disgraced by incapable heads, on account of their having high-sounding words in their mouths. Grand, swelling sentiments of liberty, I am sure I do not despise. They warm the heart; they enlarge and liberalize our minds; they animate our courage in a time of conflict. Old as I am, I read the fine raptures of Lucan and Corneille with pleasure. Neither do I wholly condemn the little arts and devices of popularity. They facilitate the carrying of many points of moment; they keep the people together; they refresh the mind in its exertions; and they diffuse occasional gaiety over the severe brow of moral freedom. Every politician ought to sacrifice to the graces; and to join compliance with

reason. But in such an undertaking as that in France, all these subsidiary sentiments and artifices are of little avail. To make a government requires no great prudence. Settle the seat of power; teach obedience: and the work is done. To give freedom is still more easy. It is not necessary to guide; it only requires to let go the rein. But to form a free government; that is, to temper together these opposite elements of liberty and restraint in one consistent work, requires much thought, deep reflection, a sagacious, powerful, and combining mind. This I do not find in those who take the lead in the national assembly. Perhaps they are not so miserably deficient as they appear. I rather believe it. It would put them below the common level of human understanding. But when the leaders choose to make themselves bidders at an auction of popularity, their talents, in the construction of the state, will be of no service. They will become flatterers instead of legislators; the instruments, not the guides of the people. If any of them should happen to propose a scheme of liberty, soberly limited, and defined with proper qualifications, he will be immediately outbid by his competitors, who will produce something more splendidly popular. Suspicions will be raised of his fidelity to his cause. Moderation will be stigmatized as the virtue of cowards; and compromise as the prudence of traitors; until, in hopes of preserving the credit which may enable him to temper and moderate on some occasions, the popular leader is obliged to become active in propagating doctrines, and establishing powers, that will afterwards defeat any sober purpose at which he ultimately might have aimed.

But am I so unreasonable as to see nothing at all that deserves commendation in the indefatigable labours of this assembly? I do not deny that among an infinite number of acts of violence and folly, some good may have been done. They who destroy every thing certainly will remove some grievance. They who make every thing new, have a chance that they may establish something beneficial. To give them credit for what they have done in virtue of the authority they have usurped, or to excuse them in the crimes by which that authority has been acquired, it must appear, that the same things could not have been accomplished without producing such a revolution. Most assuredly they might; because almost every one of the regulations made by them, which is not very equivocal, was either in the cession of the king, voluntarily made at the meeting of the states, or in the concurrent instructions to the orders.

Some usages have been abolished on just grounds; but they were such, that if they had stood as they were to all eternity, they would little detract from the happiness and prosperity of any state. The improvements of the national assembly are superficial, their errours fundamental.

Whatever they are, I wish my countrymen rather to recommend to our neighbours the example of the British constitution, than to take models from them for the improvement of our own. In the former they have got an invaluable treasure. They are not, I think, without some causes of apprehension and complaint; but these they do not owe to their constitution, but to their own conduct. I think our happy situation owing to our constitution; but owing to the whole of it, and not to any part singly; owing in a great measure to what we have left standing in our several reviews and reformations, as well as to what we have altered or superadded. Our people will find employment enough for a truly patriotic, free, and independent spirit, in guarding what they possess from violation. I would not exclude alteration neither; but even when I changed, it should be to preserve. I should be led to my remedy by a great grievance. In what 1 did, I should follow the example of our ancestors. I would make the reparation as nearly as possible in the style of the building. A politic caution, a guarded circumspection, a moral rather than a complexional timidity, were among the ruling principles of our forefathers in their most decided conduct. Not being illuminated with the light of which the gentlemen of France tell us they have got so abundant a share, they acted under a strong impression of the ignorance and fallibility of mankind. He that had made them thus fallible, rewarded them for having in their conduct attended to their nature. Let us imitate their caution, if we wish to deserve their fortune, or to retain their bequests. Let us add, if we please, but let us preserve what they have left; and, standing on the firm ground of the British constitution, let us be satisfied to admire, rather than attempt to follow in their desperate flights the aeronauts of France.

I have told you candidly my sentiments. I think they are not likely to alter yours. I do not know that they ought. You are young; you cannot guide, but must follow the fortune of your country. But hereafter they may be of some use to you, in some future form which your commonwealth may take. In the present it can hardly remain; but before its final settlement it may be obliged to pass, as one of

our poet says, "through great varieties of untried being," and in all its transmigrations to be purified by fire and blood.

I have little to recommend my opinions but long observation and much impartiality. They come from one who has been no tool of power, no flatterer of greatness; and who in his last acts does not wish to belie the tenour of his life. They come from one, almost the whole of whose public exertion has been a struggle for the liberty of others; from one in whose breast no anger durable or vehement has ever been kindled, but by what he considered as tyranny; and who snatches from his share in the endeavours which are used by good men to discredit opulent oppression, the hours he has

employed on your affairs; and who in so doing persuades himself he has not departed from his usual office: they come from one who desires honours, distinctions, and emoluments, but little; and who expects them not at all; who has no contempt for fame, and no fear of obloquy; who shuns contention, though he will hazard an opinion from one who wishes to preserve consistency; but who would preserve consistency by varying his means to secure the unity of his end; and, when the equipoise of the vessel in which he sails may be endangered by overloading it upon one side, is desirous of carrying the small weight of his reasons to that which may preserve its equipoise.

SIR,-I had the honour to receive your letter of the 17th of November last; in which, with some exceptions, you are pleased to consider favourably the letter I have written on the affairs of France. I shall ever accept any mark of approbation, attended with instruction, with more pleasure than general and unqualified praises. The latter can serve only to flatter our vanity; the former, whilst it encourages us to proceed, may help to improve us in our progress.

Some of the errours you point out to me in my printed letter are really such. One only I find to be material. It is corrected in the edition which I take the liberty of sending to you. As to the cavils which may be made on some part of my remarks, with regard to the gradations in your new constitution, you observe justly, that they do not affect the substance of my objections. Whether there be a round more or less in the ladder of representation, by which your workmen ascend from their parochial tyranny to their federal anarchy, when the whole scale is false, appears to me of little or no importance.

I published my thoughts on that constitution, that my countrymen might be enabled to estimate the wisdom of the plans which were held out to their imitation. I conceived that the true character of those plans would be best collected from the committee appointed to prepare them. I thought that the scheme of their building would be better comprehended in the

design of the architects then in the execution of the masons. It was not worth my reader's while to occupy himself with the alterations by which bungling practice corrects absurd theory. Such an investigation would be endless: because every day's past experience of impracticability has driven, and every day's future experience will drive, those men to new devices as exceptionable as the old; and which are no otherwise worthy of observation than as they give a daily proof of the delusion of their promises, and the falsehood of their professions. Had I followed all these changes, my letter would have been only a gazette of their wanderings; a journal of their march from errour to errour, through a dry dreary desert, unguided by the lights of heaven, or by the contrivance which wisdom has invented to supply their place.

I am unalterably persuaded, that the attempt to oppress, degrade, impoverish, confiscate, and extinguish the original gentlemen, and landed property of a whole nation, cannot be justified under any form it may assume. I am satisfied beyond a doubt, that the project of turning a great empire into a vestry, or into a collection of vestries, and of governing it in the spirit of a parochial administration, is senseless and absurd, in any mode, or with any qualifications. I can never be convinced, that the scheme of placing the highest powers of the state in churchwardens and constables, and other such officers, guided by the prudence of