only chasm was that which the extinction of despotism had left, and which was to be filled up with a constitution more formidable in resources than the power which had expired.

Although the French Nation rendered the late Government insolvent, it did not permit the insolvency to act towards the creditors; and the creditors considering the Nation as the real paymaster, and the Government only as the agent, rested themselves on the Nation, in preference to the Government. This appears greatly to disturb Mr Burke, as the precedent is fatal to the policy by which Governments have supposed themselves secure. They have contracted debts, with a view of attaching what is called the monied interest of a Nation to their support; but the example in France shows, that the permanent security of the creditor is in the Nation, and not in the Government; and that in all possible revolutions that may happen in Governments, the means are always with the Nation, and the Nation always in existence. Mr Burke argues, that the creditors ought to have abided the fate of the Government which they trusted; but the National Assembly considered them as the creditors of the Nation, and not of the Government—of the master, and not of the steward.

Notwithstanding the late Government could not discharge the current expenses, the present Government has paid off a great part of the capital. This has been accomplished by two means; the one by lessening the expenses of Government, and the other by the sale of the monastic and ecclesiastical landed estates. The devotees and penitent debauchees, extortioners and misers of former days, to ensure themselves a better world than that which they were about to leave, had bequeathed immense property in trust to the priesthood, for pious uses; and the priesthood kept it for themselves. The National Assembly has ordered it to be sold for the good of the whole Nation, and the priesthood to be decently provided for.

In consequence of the Revolution, the annual interest of the debt of France will be reduced at least six millions sterling, by paying off upwards of one hundred millions of the capital; which, with lessening the former expenses of Government at least three millions, will place France in a situation worthy the imitation of Europe.

Upon a whole review of the subject, how vast is the contrast! While Mr Burke has been talking of a general bankruptcy in France, the National Assembly has been paying off the capital of its debt; and while taxes have increased near a million a year in England, they have lowered several millions a year in France. Not a word has either Mr Burke or Mr Pitt said about French affairs, or the state of the French finances, in the present, Session of Parliament. The subject begins to be too well understood, and imposition serves no longer.

There is a general enigma running through the whole of Mr Burke’s book. He writes in a rage against the National Assembly; but what is he enraged about? If his assertions were as true as they are groundless, and that France, by her Revolution, had annihilated her power, and become what he calls a chasm, it might excite the grief of a Frenchman, (considering himself as a national man), and provoke his rage against the National Assembly; but why should it excite the rage of Mr Burke?— Alas! it is not the Nation of France that Mr Burke means, but the court; and every Court in Europe, dreading the same fate, is in mourning. He writes neither in the character of a Frenchman nor an Englishman, but in the fawning character of that creature known in all countries, and a friend to none, a Courtier. Whether it be the Court of Versailles, or the Court of St James or Carlton House, or the Court in expectation, signifies not; for the caterpillar principle of all Courts and Courtiers are alike. They form a common policy throughout Europe, detached and separate from the interest of Nations: and while they appear to quarrel, they agree to plunder. Nothing can be more terrible to a Court or a Courtier, than the Revolution of France. That which is a blessing to Nations, is bitterness to them; and as their existence depends on the duplicity of a country, they tremble at the approach of principles, and dread the precedent that threatens their overthrow.