A day and night had passed by since his mother had renounced her rights to him. He could not sleep. His head was full of plans, his heart of emotion. He dared not sleep—he who was the guardian of millions of his fellow-beings—he who felt ready to shed his heart's blood for their good.

On the first day, Joseph had been in council with the ministers of state. The will of the deceased emperor had been opened, and his son now learned, that while his mother was conferring upon him power, his father had left him boundless wealth. The Emperor Francis had left his eldest son sole heir to his estates in Hungary and Galicia, to his jewels and treasures, and also to the millions of money which he had accumulated through manufactures and trade.

He had also left to his eldest son the twenty-two millions of coupons which he had taken for the gold which he had advanced to the state for the prosecution of the Seven Years' War. Joseph was therefore the richest prince in all Germany, for his father's vast estates amounted to one hundred and fifty-nine millions of guilders. [Footnote: Hubner, "Life of Joseph II." vol. i., page 28.] But he who had been so intoxicated with joy at his mother's gift, seemed scarcely moved at all as he received the tidings of his vast inheritance.

"I wish that my father had bought all the coupons that were issued, and that they were all mine," said he, with a sigh.

"Your majesty would be no gainer thereby," replied the lord keeper of the finances, Von Kinsky. "These coupons bear but little interest, and paper money is not gold. Its value is nominal."

"But it has one merit," replied the emperor, smiling; "it can be burned. Oh, what a miserable invention is this paper money, which represents value, but possesses none! Suppose that all the holders of these coupons were to come in this morning and ask for their redemption, could the imperial coffers meet their obligations?"

"Not if they all came at once, your majesty."

"But the people have a right to call for them," said the emperor. "In lending their money, they showed their confidence in the government, and this confidence must not be betrayed. Let the twenty-two millions of coupons be put in a package and brought to my private apartments. I wish to dispose of them."

Throughout this day Joseph was so absorbed by business, both private and official, that he had no opportunity of exhibiting himself in his new character, either to his family or his subjects.

But, on the second day of his co-regency, the young emperor appeared in public. On this day, the Viennese celebrated the deliverance of Vienna from the Turks by John Sobieski and his brave Polish legions. The mourning of the female members of the imperial family did not permit them to mingle as usual with the people on this favorite festival; but the emperor resolved to show himself on this occasion in the character of a sovereign. All Vienna was eager to see him as soon as it became rumored that he would certainly attend the mass in honor of the day at the cathedral of St. Stephen.