“The public works heedlessly undertaken simultaneously, at all points of the territory, to satisfy or to encourage electoral corruption, and not with that reserve which prudence so imperiously commanded, have raised the credits to 1,081,000,000 francs. From this sum are to be deducted the sums reimbursed by the companies, amounting to 160,000,000 francs; the last loan, 82,000,000 francs, making together 242,000,000 francs, and leaving a balance of 839,000,000 francs. Out of this sum, 435,000,000 francs has been expended out of the resources of the floating debt, and 404,000,000 francs still remain to be expended on the completion of the works.
“FLOATING DEBT.
“The floating debt increased in proportions not less considerable. At the commencement of 1831 it reached an amount of about 250,000,000 francs. At the date of the 26th of February last it exceeded 670,000,000 francs, to which is to be added the government stock belonging to the savings’ banks, 202,000,000 francs, making altogether 972,000,000 francs. Under such a system the position of the central office of the Treasury could not often be brilliant. During the two hundred and sixty-eight last days of its existence, the fallen government expended more than 294,800,000 francs beyond its ordinary resources, or 1,100,000 francs per day.”—Report of Finance Minister, March 9, 1848.
[9]. Lamartine, “Histoire des Girondins,” iii. 244, 245.
[10]. “La plus grande erreur contre laquelle il faille premunir la population de nos campagnes, c’est que pour être representant il soit nécessaire d’avoir de l’éducation ou de la fortune.”—Circulaire du Ministre d’Instruction publique, Mars 9 et 6, 1848.
[11]. Tacitus.
[12]. Burke’s Works.
[13]. “God is patient because eternal.”
[14]. De Tocqueville, Democratie en Amerique, ii. 268.
[15]. These lines were composed on the north coast of Scotland, in view of a wild sea-cave, the extent of which has never been ascertained. The Atlantic rolls into it with such fury during a tempest, that the spray rises like smoke from an orifice in the rock resembling a chimney, at some distance from the mouth of the cave. This singular and startling effect has no doubt given rise to the popular name of this remarkable cavern—Hell’s Lum. Scott would have been pleased with it, and its romantic legends of mermaids, &c.