This represents a quite different system of credit from what we see established, even in France, at present; where the tax-gatherers are still loudly complained of, though much more than they deserve. The mode of raising the taxes is now most exactly specified by the King; and nothing more can be exacted than according to the plan laid down; but in every case severe penalties are imposed upon frauds, and when levied, are accounted for to the farmers; but when compounded for under-hand, sink into private men’s pockets. In a country where taxes are rightly established, industrious people have no occasion to indemnify themselves by fraud for the taxes they pay; they have a more certain method of being refunded. This shall be explained in its proper place. By this method of oppression in the Cardinal’s time, a great part of the odium was removed from the King, and cast upon the partisans. The people resembled a dog who bites the stick with which he has been struck, instead of biting him who holds it[21]. Footnote 21: Thus were taxes established in France, in spight of the great aversion of that nation to them. The exigencies of the state were apparent; Princes were considered as under an absolute necessity to find money at any rate; they appeared to be in the hands of unrelenting usurers, who became the execration of the people, to whose fury they were sometimes delivered over, when stripped of their wealth: the people were now and then relieved of a part of their burthen; the tax remained under milder management; formed an addition to the King’s revenue, and served as a fund for future emergencies. But the nature of man is such, that the more he grows in wealth, the more the desire of spending it increases. Thus the fund provided for unforeseen emergencies, is insensibly incorporated with that which is appropriated for the current service of the state. Nothing however is more certain than that in time of war, far greater sums are required than any people can pay, without contracting debts. Is it not then indispensibly necessary, either, 1_mo_, To have a sum locked up in treasure? Or, 2_do_, A fund appropriated, to borrow upon in time of war, which may serve to pay off the debts in time of peace? Or, 3_tio_, To borrow upon the stipulation of an annual payment, which may, in a certain number of years, acquit both interest and principal? The first is the plan of the King of Prussia; the second that of England; the third is, in a good measure, that of France: Holland borrows no more, and pays as she can what she owes; Spain lives on her income; and Austria remained in the old way till very lately, without credit, and consequently without much debt. I have now said enough to point out the method of borrowing money in France at this time, from which the nature of the security may easily be gathered.