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motives; he said, “nothing but such a constitution as you have in England can have the credit that is necessary to raise such sums as a great war requires.” The prince came, and used our constitution for his purpose: he introduced into England the system of Dutch finance. The principle of that system was to mortgage industry in order to protect property: abstractedly, nothing can be conceived more unjust; its practice in England has been equally injurious. In Holland, with a small population engaged in the same pursuits, in fact a nation of bankers, the system was adapted to the circumstances which had created it. All shared in the present spoil, and therefore could endure the future burthen. And so to this day Holland is sustained, almost solely sustained, by the vast capital thus created which still lingers amongst its dykes. But applied to a country in which the circumstances were entirely different; to a considerable and rapidly-increasing population; where there was a numerous peasantry, a trading middle class struggling into existence; the sys-