* when, by dint of expenditure and the burdens this creates, it becomes insolvent;
* when, through its paper-money and forced circulation, it annuls indebtedness in the hands of the creditor, and allows the debtor to go scot-free;
* when it arbitrarily seizes current capital;
* when it makes forced loans and requisitions;
* when its tax on productions surpasses the cost of production and on merchandise the profit on its sale;
* when it constrains the manufacturer to manufacture at a loss and the merchant to sell at a loss;
* when its principles, judged by its acts, indicate a progression from partial to a universal confiscation.—
Ineluctably every phase of disease engenders the evil which follows: it is like a poison the effects of which spread or pass onwards. Each function, affected by the derangement of the adjacent one, becoming disturbed in its turn. The perils, mutilation and suppression of property diminish available securities as well as the courage that risks them, that is to say, the mode of, and disposition to, make advances. Through a lack of funds, useful enterprises languish, die out or are not undertaken. Consequently, the production, supply, and sale of indispensable articles slacken, become interrupted and cease altogether. There is less soap and sugar and fewer candles at the grocery, less wood and coal in the wood-yard, fewer oxen and sheep in the markets, less meat at the butcher's, less grain and flour at the corn-exchange, and less bread at the bakeries. As articles of prime necessity are scarce they become dear; as people contend for them their dearness increases; the rich man ruins himself in the struggle to get hold of them, while the poor man never gets any, and the bare necessities become unattainable.