But, after all, what is this metaphor called a crown, or rather what is monarchy? Is it a thing, or is it a name, or is it a fraud? Is it a "contrivance of human wisdom," or of human craft to obtain money from a nation under specious pretences? Is it a thing necessary to a nation?

If it is, in what does that necessity consist, what service does it perform, what is its business, and what are its merits? Does the virtue consist in the metaphor, or in the man? Doth the goldsmith that makes the crown, make the virtue also? Doth it operate like Fortunatus's wishing-cap, or Harlequin's wooden sword? Doth it make a man a conjurer?

In fine, what is it? It appears to be something going much out of fashion, falling into ridicule, and rejected in some countries, both as unnecessary and expensive. In America it is considered as an absurdity; and in France it has so far declined, that the goodness of the man, and the respect for his personal character, are the only things that preserve the appearance of its existence.

If government be what Mr. Burke describes it, "a contrivance of human wisdom" I might ask him, if wisdom was at such a low ebb in England, that it was become necessary to import it from Holland and from Hanover?

But I will do the country the justice to say, that was not the case; and even if it was it mistook the cargo. The wisdom of every country, when properly exerted, is sufficient for all its purposes; and there could exist no more real occasion in England to have sent for a Dutch Stadtholder, or a German Elector, than there was in America to have done a similar thing. If a country does not understand its own affairs, how is a foreigner to understand them, who knows neither its laws, its manners, nor its language? If there existed a man so transcendently wise above all others, that his wisdom was necessary to instruct a nation, some reason might be offered for monarchy; but when we cast our eyes about a country, and observe how every part understands its own affairs; and when we look around the world, and see that of all men in it, the race of kings are the most insignificant in capacity, our reason cannot fail to ask us--What are those men kept for?

If there is anything in monarchy which we people of America do not understand, I wish Mr. Burke would be so kind as to inform us. I see in America, a government extending over a country ten times as large as England, and conducted with regularity, for a fortieth part of the expense which Government costs in England. If I ask a man in America if he wants a King, he retorts, and asks me if I take him for an idiot?

How is it that this difference happens? are we more or less wise than others? I see in America the generality of people living in a style of plenty unknown in monarchical countries; and I see that the principle of its government, which is that of the equal Rights of Man, is making a rapid progress in the world.

If monarchy is a useless thing, why is it kept up anywhere? and if a necessary thing, how can it be dispensed with? That civil government is necessary, all civilized nations will agree; but civil government is republican government. All that part of the government of England which begins with the office of constable, and proceeds through the department of magistrate, quarter-sessions, and general a.s.size, including trial by jury, is republican government. Nothing of monarchy appears in any part of it, except in the name which William the Conqueror imposed upon the English, that of obliging them to call him "Their Sovereign Lord the King."

It is easy to conceive that a band of interested men, such as Placemen, Pensioners, Lords of the bed-chamber, Lords of the kitchen, Lords of the necessary-house, and the Lord knows what besides, can find as many reasons for monarchy as their salaries, paid at the expense of the country, amount to; but if I ask the farmer, the manufacturer, the merchant, the tradesman, and down through all the occupations of life to the common labourer, what service monarchy is to him? he can give me no answer. If I ask him what monarchy is, he believes it is something like a sinecure.

Notwithstanding the taxes of England amount to almost seventeen millions a year, said to be for the expenses of Government, it is still evident that the sense of the Nation is left to govern itself, and does govern itself, by magistrates and juries, almost at its own charge, on republican principles, exclusive of the expense of taxes. The salaries of the judges are almost the only charge that is paid out of the revenue. Considering that all the internal government is executed by the people, the taxes of England ought to be the lightest of any nation in Europe; instead of which, they are the contrary. As this cannot be accounted for on the score of civil government, the subject necessarily extends itself to the monarchical part.

When the people of England sent for George the First (and it would puzzle a wiser man than Mr. Burke to discover for what he could be wanted, or what service he could render), they ought at least to have conditioned for the abandonment of Hanover. Besides the endless German intrigues that must follow from a German Elector being King of England, there is a natural impossibility of uniting in the same person the principles of Freedom and the principles of Despotism, or as it is usually called in England Arbitrary Power. A German Elector is in his electorate a despot; how then could it be expected that he should be attached to principles of liberty in one country, while his interest in another was to be supported by despotism? The union cannot exist; and it might easily have been foreseen that German Electors would make German Kings, or in Mr. Burke's words, would a.s.sume government with "contempt."

The English have been in the habit of considering a King of England only in the character in which he appears to them; whereas the same person, while the connection lasts, has a home-seat in another country, the interest of which is different to their own, and the principles of the governments in opposition to each other. To such a person England will appear as a town-residence, and the Electorate as the estate. The English may wish, as I believe they do, success to the principles of liberty in France, or in Germany; but a German Elector trembles for the fate of despotism in his electorate; and the Duchy of Mecklenburgh, where the present Queen's family governs, is under the same wretched state of arbitrary power, and the people in slavish va.s.salage.

There never was a time when it became the English to watch continental intrigues more circ.u.mspectly than at the present moment, and to distinguish the politics of the Electorate from the politics of the Nation. The Revolution of France has entirely changed the ground with respect to England and France, as nations; but the German despots, with Prussia at their head, are combining against liberty; and the fondness of Mr. Pitt for office, and the interest which all his family connections have obtained, do not give sufficient security against this intrigue.

As everything which pa.s.ses in the world becomes matter for history, I will now quit this subject, and take a concise review of the state of parties and politics in England, as Mr. Burke has done in France.

Whether the present reign commenced with contempt, I leave to Mr. Burke: certain, however, it is, that it had strongly that appearance. The animosity of the English nation, it is very well remembered, ran high; and, had the true principles of Liberty been as well understood then as they now promise to be, it is probable the Nation would not have patiently submitted to so much. George the First and Second were sensible of a rival in the remains of the Stuarts; and as they could not but consider themselves as standing on their good behaviour, they had prudence to keep their German principles of government to themselves; but as the Stuart family wore away, the prudence became less necessary.

The contest between rights, and what were called prerogatives, continued to heat the nation till some time after the conclusion of the American War, when all at once it fell a calm--Execration exchanged itself for applause, and Court popularity sprung up like a mushroom in a night.

To account for this sudden transition, it is proper to observe that there are two distinct species of popularity; the one excited by merit, and the other by resentment. As the Nation had formed itself into two parties, and each was extolling the merits of its parliamentary champions for and against prerogative, nothing could operate to give a more general shock than an immediate coalition of the champions themselves. The partisans of each being thus suddenly left in the lurch, and mutually heated with disgust at the measure, felt no other relief than uniting in a common execration against both. A higher stimulus or resentment being thus excited than what the contest on prerogatives occasioned, the nation quitted all former objects of rights and wrongs, and sought only that of gratification. The indignation at the Coalition so effectually superseded the indignation against the Court as to extinguish it; and without any change of principles on the part of the Court, the same people who had reprobated its despotism united with it to revenge themselves on the Coalition Parliament. The case was not, which they liked best, but which they hated most; and the least hated pa.s.sed for love. The dissolution of the Coalition Parliament, as it afforded the means of gratifying the resentment of the Nation, could not fail to be popular; and from hence arose the popularity of the Court.

Transitions of this kind exhibit a Nation under the government of temper, instead of a fixed and steady principle; and having once committed itself, however rashly, it feels itself urged along to justify by continuance its first proceeding. Measures which at other times it would censure it now approves, and acts persuasion upon itself to suffocate its judgment.

On the return of a new Parliament, the new Minister, Mr. Pitt, found himself in a secure majority; and the Nation gave him credit, not out of regard to himself, but because it had resolved to do it out of resentment to another. He introduced himself to public notice by a proposed Reform of Parliament, which in its operation would have amounted to a public justification of corruption. The Nation was to be at the expense of buying up the rotten boroughs, whereas it ought to punish the persons who deal in the traffic.

Pa.s.sing over the two bubbles of the Dutch business and the million a-year to sink the national debt, the matter which most presents itself, is the affair of the Regency. Never, in the course of my observation, was delusion more successfully acted, nor a nation more completely deceived. But, to make this appear, it will be necessary to go over the circ.u.mstances.

Mr. Fox had stated in the House of Commons, that the Prince of Wales, as heir in succession, had a right in himself to a.s.sume the Government.

This was opposed by Mr. Pitt; and, so far as the opposition was confined to the doctrine, it was just. But the principles which Mr. Pitt maintained on the contrary side were as bad, or worse in their extent, than those of Mr. Fox; because they went to establish an aristocracy over the nation, and over the small representation it has in the House of Commons.

Whether the English form of Government be good or bad, is not in this case the question; but, taking it as it stands, without regard to its merits or demerits, Mr. Pitt was farther from the point than Mr. Fox.

It is supposed to consist of three parts:--while therefore the Nation is disposed to continue this form, the parts have a national standing, independent of each other, and are not the creatures of each other. Had Mr. Fox pa.s.sed through Parliament, and said that the person alluded to claimed on the ground of the Nation, Mr. Pitt must then have contended what he called the right of the Parliament against the right of the Nation.

By the appearance which the contest made, Mr. Fox took the hereditary ground, and Mr. Pitt the Parliamentary ground; but the fact is, they both took hereditary ground, and Mr. Pitt took the worst of the two.

What is called the Parliament is made up of two Houses, one of which is more hereditary, and more beyond the control of the Nation than what the Crown (as it is called) is supposed to be. It is an hereditary aristocracy, a.s.suming and a.s.serting indefeasible, irrevocable rights and authority, wholly independent of the Nation. Where, then, was the merited popularity of exalting this hereditary power over another hereditary power less independent of the Nation than what itself a.s.sumed to be, and of absorbing the rights of the Nation into a House over which it has neither election nor control?

The general impulse of the Nation was right; but it acted without reflection. It approved the opposition made to the right set up by Mr. Fox, without perceiving that Mr. Pitt was supporting another indefeasible right more remote from the Nation, in opposition to it.

With respect to the House of Commons, it is elected but by a small part of the Nation; but were the election as universal as taxation, which it ought to be, it would still be only the organ of the Nation, and cannot possess inherent rights.--When the National a.s.sembly of France resolves a matter, the resolve is made in right of the Nation; but Mr. Pitt, on all national questions, so far as they refer to the House of Commons, absorbs the rights of the Nation into the organ, and makes the organ into a Nation, and the Nation itself into a cypher.

In a few words, the question on the Regency was a question of a million a-year, which is appropriated to the executive department: and Mr. Pitt could not possess himself of any management of this sum, without setting up the supremacy of Parliament; and when this was accomplished, it was indifferent who should be Regent, as he must be Regent at his own cost.

Among the curiosities which this contentious debate afforded, was that of making the Great Seal into a King, the affixing of which to an act was to be royal authority. If, therefore, Royal Authority is a Great Seal, it consequently is in itself nothing; and a good Const.i.tution would be of infinitely more value to the Nation than what the three Nominal Powers, as they now stand, are worth.

The continual use of the word Const.i.tution in the English Parliament shows there is none; and that the whole is merely a form of government without a Const.i.tution, and const.i.tuting itself with what powers it pleases. If there were a Const.i.tution, it certainly could be referred to; and the debate on any const.i.tutional point would terminate by producing the Const.i.tution. One member says this is Const.i.tution, and another says that is Const.i.tution--To-day it is one thing; and to-morrow something else--while the maintaining of the debate proves there is none. Const.i.tution is now the cant word of Parliament, tuning itself to the ear of the Nation. Formerly it was the universal supremacy of Parliament--the omnipotence of Parliament: But since the progress of Liberty in France, those phrases have a despotic harshness in their note; and the English Parliament have catched the fashion from the National a.s.sembly, but without the substance, of speaking of Const.i.tution.

As the present generation of the people in England did not make the Government, they are not accountable for any of its defects; but, that sooner or later, it must come into their hands to undergo a const.i.tutional reformation, is as certain as that the same thing has happened in France. If France, with a revenue of nearly twenty-four millions sterling, with an extent of rich and fertile country above four times larger than England, with a population of twenty-four millions of inhabitants to support taxation, with upwards of ninety millions sterling of gold and silver circulating in the nation, and with a debt less than the present debt of England--still found it necessary, from whatever cause, to come to a settlement of its affairs, it solves the problem of funding for both countries.

It is out of the question to say how long what is called the English const.i.tution has lasted, and to argue from thence how long it is to last; the question is, how long can the funding system last? It is a thing but of modern invention, and has not yet continued beyond the life of a man; yet in that short s.p.a.ce it has so far acc.u.mulated, that, together with the current expenses, it requires an amount of taxes at least equal to the whole landed rental of the nation in acres to defray the annual expenditure. That a government could not have always gone on by the same system which has been followed for the last seventy years, must be evident to every man; and for the same reason it cannot always go on.

The funding system is not money; neither is it, properly speaking, credit. It, in effect, creates upon paper the sum which it appears to borrow, and lays on a tax to keep the imaginary capital alive by the payment of interest and sends the annuity to market, to be sold for paper already in circulation. If any credit is given, it is to the disposition of the people to pay the tax, and not to the government, which lays it on. When this disposition expires, what is supposed to be the credit of Government expires with it. The instance of France under the former Government shows that it is impossible to compel the payment of taxes by force, when a whole nation is determined to take its stand upon that ground.

Mr. Burke, in his review of the finances of France, states the quant.i.ty of gold and silver in France, at about eighty-eight millions sterling.

In doing this, he has, I presume, divided by the difference of exchange, instead of the standard of twenty-four livres to a pound sterling; for M. Neckar's statement, from which Mr. Burke's is taken, is two thousand two hundred millions of livres, which is upwards of ninety-one millions and a half sterling.

M. Neckar in France, and Mr. George Chalmers at the Office of Trade and Plantation in England, of which Lord Hawkesbury is president, published nearly about the same time (1786) an account of the quant.i.ty of money in each nation, from the returns of the Mint of each nation. Mr. Chalmers, from the returns of the English Mint at the Tower of London, states the quant.i.ty of money in England, including Scotland and Ireland, to be twenty millions sterling.*[12]

M. Neckar*[13] says that the amount of money in France, recoined from the old coin which was called in, was two thousand five hundred millions of livres (upwards of one hundred and four millions sterling); and, after deducting for waste, and what may be in the West Indies and other possible circ.u.mstances, states the circulation quant.i.ty at home to be ninety-one millions and a half sterling; but, taking it as Mr. Burke has put it, it is sixty-eight millions more than the national quant.i.ty in England.

That the quant.i.ty of money in France cannot be under this sum, may at once be seen from the state of the French Revenue, without referring to the records of the French Mint for proofs. The revenue of France, prior to the Revolution, was nearly twenty-four millions sterling; and as paper had then no existence in France the whole revenue was collected upon gold and silver; and it would have been impossible to have collected such a quant.i.ty of revenue upon a less national quant.i.ty than M. Neckar has stated. Before the establishment of paper in England, the revenue was about a fourth part of the national amount of gold and silver, as may be known by referring to the revenue prior to King William, and the quant.i.ty of money stated to be in the nation at that time, which was nearly as much as it is now.

It can be of no real service to a nation, to impose upon itself, or to permit itself to be imposed upon; but the prejudices of some, and the imposition of others, have always represented France as a nation possessing but little money--whereas the quant.i.ty is not only more than four times what the quant.i.ty is in England, but is considerably greater on a proportion of numbers. To account for this deficiency on the part of England, some reference should be had to the English system of funding. It operates to multiply paper, and to subst.i.tute it in the room of money, in various shapes; and the more paper is multiplied, the more opportunities are offered to export the specie; and it admits of a possibility (by extending it to small notes) of increasing paper till there is no money left.

I know this is not a pleasant subject to English readers; but the matters I am going to mention, are so important in themselves, as to require the attention of men interested in money transactions of a public nature. There is a circ.u.mstance stated by M. Neckar, in his treatise on the administration of the finances, which has never been attended to in England, but which forms the only basis whereon to estimate the quant.i.ty of money (gold and silver) which ought to be in every nation in Europe, to preserve a relative proportion with other nations.

Lisbon and Cadiz are the two ports into which (money) gold and silver from South America are imported, and which afterwards divide and spread themselves over Europe by means of commerce, and increase the quant.i.ty of money in all parts of Europe. If, therefore, the amount of the annual importation into Europe can be known, and the relative proportion of the foreign commerce of the several nations by which it can be distributed can be ascertained, they give a rule sufficiently true, to ascertain the quant.i.ty of money which ought to be found in any nation, at any given time.

M. Neckar shows from the registers of Lisbon and Cadiz, that the importation of gold and silver into Europe, is five millions sterling annually. He has not taken it on a single year, but on an average of fifteen succeeding years, from 1763 to 1777, both inclusive; in which time, the amount was one thousand eight hundred million livres, which is seventy-five millions sterling.*[14]

From the commencement of the Hanover succession in 1714 to the time Mr.

Chalmers published, is seventy-two years; and the quant.i.ty imported into Europe, in that time, would be three hundred and sixty millions sterling.

If the foreign commerce of Great Britain be stated at a sixth part of what the whole foreign commerce of Europe amounts to (which is probably an inferior estimation to what the gentlemen at the Exchange would allow) the proportion which Britain should draw by commerce of this sum, to keep herself on a proportion with the rest of Europe, would be also a sixth part which is sixty millions sterling; and if the same allowance for waste and accident be made for England which M. Neckar makes for France, the quant.i.ty remaining after these deductions would be fifty-two millions; and this sum ought to have been in the nation (at the time Mr.

Chalmers published), in addition to the sum which was in the nation at the commencement of the Hanover succession, and to have made in the whole at least sixty-six millions sterling; instead of which there were but twenty millions, which is forty-six millions below its proportionate quant.i.ty.

As the quant.i.ty of gold and silver imported into Lisbon and Cadiz is more exactly ascertained than that of any commodity imported into England, and as the quant.i.ty of money coined at the Tower of London is still more positively known, the leading facts do not admit of controversy. Either, therefore, the commerce of England is unproductive of profit, or the gold and silver which it brings in leak continually away by unseen means at the average rate of about three-quarters of a million a year, which, in the course of seventy-two years, accounts for the deficiency; and its absence is supplied by paper.*[15]

The Revolution of France is attended with many novel circ.u.mstances, not only in the political sphere, but in the circle of money transactions.

Among others, it shows that a government may be in a state of insolvency and a nation rich. So far as the fact is confined to the late Government of France, it was insolvent; because the nation would no longer support its extravagance, and therefore it could no longer support itself--but with respect to the nation all the means existed. A government may be said to be insolvent every time it applies to the nation to discharge its arrears. The insolvency of the late Government of France and the present of England differed in no other respect than as the dispositions of the people differ. The people of France refused their aid to the old Government; and the people of England submit to taxation without inquiry. What is called the Crown in England has been insolvent several times; the last of which, publicly known, was in May, 1777, when it applied to the nation to discharge upwards of L600,000 private debts, which otherwise it could not pay.

It was the error of Mr. Pitt, Mr. Burke, and all those who were unacquainted with the affairs of France to confound the French nation with the French Government. The French nation, in effect, endeavoured to render the late Government insolvent for the purpose of taking government into its own hands: and it reserved its means for the support of the new Government. In a country of such vast extent and population as France the natural means cannot be wanting, and the political means appear the instant the nation is disposed to permit them. When Mr.

Burke, in a speech last winter in the British Parliament, "cast his eyes over the map of Europe, and saw a chasm that once was France," he talked like a dreamer of dreams. The same natural France existed as before, and all the natural means existed with it. The only chasm was that the extinction of despotism had left, and which was to be filled up with the Const.i.tution more formidable in resources than the power which had expired.

Although the French Nation rendered the late Government insolvent, it did not permit the insolvency to act towards the creditors; and the creditors, considering the Nation as the real pay-master, and the Government only as the agent, rested themselves on the nation, in preference to the Government. This appears greatly to disturb Mr.

Burke, as the precedent is fatal to the policy by which governments have supposed themselves secure. They have contracted debts, with a view of attaching what is called the monied interest of a Nation to their support; but the example in France shows that the permanent security of the creditor is in the Nation, and not in the Government; and that in all possible revolutions that may happen in Governments, the means are always with the Nation, and the Nation always in existence. Mr.

Burke argues that the creditors ought to have abided the fate of the Government which they trusted; but the National a.s.sembly considered them as the creditors of the Nation, and not of the Government--of the master, and not of the steward.

Notwithstanding the late government could not discharge the current expenses, the present government has paid off a great part of the capital. This has been accomplished by two means; the one by lessening the expenses of government, and the other by the sale of the monastic and ecclesiastical landed estates. The devotees and penitent debauchees, extortioners and misers of former days, to ensure themselves a better world than that they were about to leave, had bequeathed immense property in trust to the priesthood for pious uses; and the priesthood kept it for themselves. The National a.s.sembly has ordered it to be sold for the good of the whole nation, and the priesthood to be decently provided for.

In consequence of the revolution, the annual interest of the debt of France will be reduced at least six millions sterling, by paying off upwards of one hundred millions of the capital; which, with lessening the former expenses of government at least three millions, will place France in a situation worthy the imitation of Europe.