which they are the greatest sufferers, and they broke out in disorder both in Paris and the provinces. They discerned an attack upon their local independence. Nobody would accept office in the new courts, and the administration of justice was at a standstill. A loan was thrown upon the market, but the public could not be persuaded to take it up. It was impossible to collect the taxes. The interest on the national debt was unpaid, and the fundholder was dismayed and exasperated by an announcement that only two-fifths would be discharged in cash. A very large part of the national debt was held in the form of annuities for lives, and men who had invested their savings on the credit of the government, saw themselves left without a provision. The total number of fundholders cannot be ascertained with any precision, but it must have been very considerable, especially in Paris and the other great cities. Add to these all the civil litigants in the kingdom, who had portions of their property virtually sequestrated by the suspension of the courts into which the property had been taken. The resentment of this immense body of defrauded public creditors and injured private suitors explains the alienation of the middle class from the monarchy. In the convulsions of our own time, the moneyed interests have been on one side, and the population without money on the other. But in the first and greatest convulsion, those who had nothing to lose found their animosities shared by those who had had something to lose, and had lost it.