merce, not obliterated by philosophy, furnish decisive arguments against this delufion, conclude their arguments, by proposing the emission of affignats. I suppose they must talk of affignats, as no other language would be understood. All experience of their inefficacy does not in the least discourage them. Are the old assignats depreciated at market? What is the remedy? Issue new affignats. Mais fi maladia, opiniatria, non vult fe garire, quid illi facere? affignare poftea affignare; enfuita affignare. The word is a trifle altered. The Latin of your present doctors may be better than that of your old comedy; their wisdom, and the variety of their resources, are the fame. They have not more notes in their fong than the cuckow; though, far from the softness of that harbinger of fummer and plenty, their voice is as harsh and as ominous as that of the raven. Who but the most desperate adventurers in philosophy and finance could at all have thought of destroying the fettled revenue of the ftate, the fole security for the public credit, in the hope of rebuilding it with the materials of confiscated property? If, however, an excessive zeal for the state should have led a pious and venerable prelate (by anticipation a father of the church *) to pillage his own order, and, for the good of the church and people, to take upon himself the place of grand financier of confifcation, and comptroller general of facrilege, he and his coadjutors were, in my opinion, bound to shew, by their subsequent conduct, that they knew fomeLa Bruyere of Bossuet. thing of the office they assumed. When they had refolved to appropriate to the Fifc, a certain portion of the landed property of their conquered country, it was their business to render their bank a real fund of credit; as far as fuch a bank was capable of becoming fo. To establish a current circulating credit upon any Land-bank, under any circumstances whatsoever, has hitherto proved difficult at the very least. The attempt has commonly ended in bankruptcy. But when the affembly were led, through a contempt of moral, to a defiance of economical principles, it might at least have been expected, that nothing would be omitted on their part to lessen this difficulty, to prevent any aggravation of this bankruptcy. It might be expected that to render your Land-bank tolerable, every means would be adopted that could display openness and candour in the statement of the security; every thing which could aid the recovery of the demand. To take things in their most favourable point of view, your condition was that of a man of a large landed estate, which he wished to dispose of for the discharge of a debt, and the fupply of certain services. Not being able instantly to fell, you wished to mortgage. What would a man of fair intentions, and a commonly clear understanding, do in such circumstances? Ought he not first to afcertain the grofs value of the estate; the charges of its management and disposition; the encumbrances perpetual and temporary of all kinds that affect it; then, striking a net furplus, to calculate the just value of the security? When that surplus (the only security to the the creditor) had been clearly afcertained, and properly vefted in the hands of trustees; then he would indicate the parcels to be fold, and the time, and conditions of fale; after this, he would admit the public creditor, if he chose it, to subscribe his stock into this new fund; or he might receive proposals for an affignat from those who would advance money to purchase this species of security. This would be to proceed like men of bufiness, methodically and rationally; and on the only principles of public and private credit that have an existence. The dealer would then know exactly what he purchased; and the only doubt which could hang upon his mind would be, the dread of the resumption of the spoil, which one day might be made (perhaps with an addition of punishment) from the sacrilegious gripe of those execrable wretches who could become purchasers at the auction of their innocent fellow-citizens. An open and exact statement of the clear value of the property, and of the time, the circumstances, and the place of fale, were all neceffary, to efface as much as poffible the stigma that has hitherto been branded on every kind of Land-bank. It became neceffary on another principle, that is, on account of a pledge of faith previously given on that subject, that their future fidelity in a flippery concern might be established by their adherence to their first engagement. When they had finally determined on a state resource from church booty, they came, on the 14th of April 1790, to a folemn resolution on the subject; and pledged themselves to their country, "that in the statement of the public " charges " charges for each year there should be brought to "account a fum fufficient for defraying the ex"pences of the R. C. A. religion, the support of "the minifters at the altars, the relief of the poor, "the pensions to the ecclesiastics, secular as well " as regular, of the one and of the other fex, in " order that the estates and goods which are at the "disposal of the nation may be disengaged of all " charges, and employed by the representatives, or the * legislative body, to the great and most pressing ex" igencies of the state." They further engaged, on the fame day, that the fum necessary for the year 1791 should be forthwith determined. In this refolution they admit it their duty to show distinctly the expence of the above objects, which, by other resolutions, they had before engaged should be first in the order of provision, They admit that they ought to shew the estate clear and disengaged of all charges, and that they should shew it immediately. Have they done this immediately, or at any time? Have they ever furnished a rent-roll of the immoveable estates, or given in an inventory of the moveable effects which they confiscate to their affignats? In what manner they can fulfil their engagements of holding out to public service "an estate disengaged of all charges," without authenticating the value of the estate, or the quantum of the charges, I leave it to their English admirers to explain. Instantly upon this assurance, and previously to any one step towards making it good, they issue, on the credit of fo handsome a declaration, fixteen millions sterling of their paper. This was manly. Who, after this masterly stroke, can doubt of their abilities in finance? But then, before any other emiffion of these financial indulgences, they took care at leaft to make good their original promife!-If such eftimate, either of the value of the estate or the amount of the incumbrances, has been made, it has escaped me. I never heard of it. At length they have spoken out, and they have made a full discovery of their abominable fraud, in holding out the church lands as a security for any debts or any service whatsoever. They rob only to enable them to cheat; but in a very short time they defeat the ends both of the robbery and the fraud, by making out accounts for other purposes, which blow up their whole apparatus of force and of deception. I am obliged to M. de Calonne for his reference to the document which proves this extraordinary fact: it had, by some means, escaped me. Indeed it was not necessary to make out my affertion as to the breach of faith on the declaration of the 4th of April 1790. By a report of their Committee it now-appears, that the charge of keeping up the reduced ecclesiastical establishments, and other expences attendant on religion, and maintaining the religious of both sexes, retained or pensioned, and the other concomitant expences of the same nature, which they have brought upon themselves by this convulfion in property, exceeds the income of the eftates acquired by it in the enormous fum of two millions sterling annually; besides a debt of seven millions and upwards. These are the calculating powers of imposture! This is the finance of philofophy! This is the refult of all the delusions held out |