remnant was afterwards converted into the present five per cent stock.  I had the curiosity very lately to inquire what price it bore in the market, and I was told that the price had somewhat risen from confidence in the new Government, and was actually as high as seventeen.  I really at first supposed that my informer meant seventeen years’ purchase for every pound of interest, and I began to be almost jealous of revolutionary credit; but I soon found that he literally meant seventeen pounds for every hundred pounds capital stock of five per cent, that is, a little more than three and a half years’ purchase.  So much for the value of revolutionary property, and for the attachment with which it must inspire its possessors towards the system of government to which that value is to be ascribed!

On the question, Sir, how far the restoration of the French monarchy, if practicable, is desirable, I shall not think it necessary to say much.  Can it be supposed to be indifferent to us or to the world, whether the throne of France is to be filled by a prince of the House of Bourbon, or by him whose principles and conduct I have endeavoured to develop?  Is it nothing, with a view to influence and example, whether the fortune of this last adventurer in the lottery of revolutions shall appear to be permanent?  Is it nothing whether a system shall be sanctioned which confirms by one of its fundamental articles that general transfer of property from its ancient and lawful possessors, which holds out one of the most terrible examples of national injustice, and which has furnished the great source of revolutionary finance and revolutionary strength against all the Powers of Europe?

In the exhausted and impoverished state of France, it seems for a time impossible that any system but that of robbery and confiscation, anything but the continued torture, which can be applied only by the engines of the revolution, can extort from its ruined inhabitants more than the means of supporting, in peace, the yearly expenditure of its Government.  Suppose, then, the heir of the House of Bourbon reinstated on the throne; he will have sufficient occupation in endeavouring, if possible, to heal the wounds, and gradually to repair the losses, of ten years of civil convulsion; to reanimate the drooping commerce, to rekindle the industry, to replace the capital, and to revive the manufactures of the country.  Under such circumstances, there must probably be a considerable interval before such a monarch, whatever may be his views, can possess the power which can make him formidable to Europe; but while the system of the revolution continues, the case is quite different.  It is true, indeed, that even the gigantic and unnatural means by which that revolution has been supported are so far impaired; the influence of its principles and the terror of its arms so far weakened; and its power of action so much contracted and circumscribed, that against the embodied