Assuredly no Spanish government was ever more in want than is the present one of the pecuniary supplies which the sale of Cuba would place at its disposal. The state of the finances of the country is lamentable, and ministers are the more to be pitied, since their embarrassed position is the consequence of no fault of theirs, but of the scandalous misrule and malversation of several preceding governments, and especially of that of Sartorius. The Spanish and English newspapers have already supplied many details on this head. I will content myself with throwing together a few of the principal and most striking facts. When the present government assumed office, it found an empty treasury, and, even worse than that, the resources on which it might have reckoned for advances were already anticipated. There was no money anywhere. The Sartorius-Domenech-Collantes ministry had made a clean sweep of everything. The forced loan decreed on the 19th May, and which was to be paid during the months of June and July, had not flowed in with that gratifying rapidity announced by the organs of the _Polaco_ cabinet; but nevertheless about four hundred and seventy thousand pounds sterling had been collected, out of nearly two millions, which it was estimated that it should yield. Of the £470,000, about £140, or thirteen thousand reals, remained in the treasury. The confusion in the public accounts rendered necessary the appointment of commissioners to investigate them, and to report the real state of the finances. The labours of these commissioners brought to light a whole system of iniquity and of downright robbery. The most shameful jobs had been perpetrated; funds set apart for particular purposes, and which could not legally be otherwise employed, had been misappropriated; enormous amounts had been expended in secret-service money, of which no account was to be found; everything the government had to pay was in arrears, and all they had to receive was in advance. The result of the examination was to exhibit a balance against the treasury amounting to seven millions sterling, of two and a half millions of which the payment was urgent. To meet this heavy deficiency, equal to half a year’s revenue, the new ministry had literally nothing but their good intentions and recognised honesty—excellent things, but not always convertible into specie. The consequences of the revolution added to their embarrassments. Nothing was to be obtained from the provincial treasuries, which were found to be nearly all empty, some of them having been drained to the last real by the departed ministers; whilst in other cases there is reason to conclude that the local juntas, formed during the revolution, had spent the money. During the latter half of July, every place had its junta, legislating as it thought fit, taking off taxes, admitting foreign goods free of duty, sapping the foundations of the revenue. The effects of