yearly Deficit running on, there is hardly the colour of coin. Ominous prognostics! Malesherbes, seeing an exhausted, exasperated France grow hotter and hotter, talks of 'conflagration': Mirabeau, without talk, has, as we perceive, descended on Paris again, close on the rear of the Parlement,[1]—not to quit his native soil any more.
Over the Frontiers, behold Holland invaded by Prussia;[2] the French party oppressed, England and the Stadtholder triumphing: to the sorrow of War-secretary Montmorin and all men. But without money, sinews of war, as of work, and of existence itself, what can a Chief Minister do? Taxes profit little: this of the Second Twentieth falls not due till next year; and will then, with its 'strict valuation,' produce more controversy than cash. Taxes on the Privileged Classes cannot be got registered; are intolerable to our supporters themselves: taxes on the Unprivileged yield nothing,—as from a thing drained dry more cannot be drawn. Hope is nowhere, if not in the old refuge of Loans.
To Loménie, aided by the long head of Lamoignon, deeply pondering this sea of troubles, the thought suggested itself: Why not have a Successive Loan (Emprunt Successif), or Loan that went on lending, year after year, as much as needful; say, till 1792? The trouble of registering such Loan were the same: we had then breathing time; money to work with, at least to subsist on. Edict of a Successive Loan must be proposed. To conciliate the Philosophes, let a liberal Edict walk in front of it, for emancipation of Protestants; let a liberal Promise guard the rear of it, that when our Loan ends, in that final 1792, the States-General shall be convoked.
Such liberal Edict of Protestant Emancipation, the time having come for it, shall cost a Loménie as little as the 'Death-penalties to be put in execution' did. As for the liberal Promise, of States-General, it can be fulfilled or not: the fulfilment is five good years off; in five years much
