“Monsieur l’abbé, you have just traced, with an eloquence only to be found on your lips, the characteristics of democratic rule. This government is very much as you describe it. And yet it is the one I prefer. In it all bonds are loosened, which weakens the State, but relieves individuals and ensures a certain ease of life and a liberty which unfortunately local tyrannies counteract. It is true that corruption appears to be greater in it than in monarchies. That springs from the number and diversity of the people who are raised to power. But this corruption would be less visible if the secret of it were better kept. The lack of secrecy and the want of continuity render all enterprise impossible in a democratic Republic. But, since the enterprises of monarchies have most often ruined the nations, I am not very sorry to live under a government incapable of great designs. What rejoices me especially in our Republic is the sincere desire which she shows not to provoke war in Europe. She rejoices in militarism, but is not at all bellicose. In considering the chances of a war, other governments have nothing to fear save defeat. Ours fears equally—and justly so—both victory and defeat. This salutary fear secures us peace, which is the greatest of blessings. “The worst fault of the present _régime_ is that it costs very dear. It makes no outward show: it is not ostentatious. It is gorgeous neither in its women nor its horses. But, with its humble appearance and neglected exterior, it is expensive. It has too many poor relations, too many friends to provide for. It is a spendthrift. The most grievous point is that it lives on an exhausted country, whose powers are waning and which no longer thrives. And the administration has great need of money. It is aware that it is in difficulties. And its difficulties are greater than it fancies. They will increase still more. The evil is not new. It is the one which killed the old _régime_. I am going, monsieur l’abbé, to tell you a great truth: as long as the State contents itself with the revenues supplied by the poor, as long as it has enough from the subsidies which are assured to it with mechanical regularity by those who work with their hands, it lives happy, peaceful, and honoured. Economists and financiers are pleased to acknowledge its honesty. But as soon as this unhappy State, driven by need, makes a show of asking for money from those who have it, and of levying some slight toll on the rich, it is made to feel that it is committing a horrible outrage, is violating all rights, is wanting in respect to a sacred thing, is destroying commerce and industry, and crushing the poor by touching the rich. No one hides his conviction that discredit is at hand. And it sinks beneath the genuine contempt of the good citizen. Yet ruin comes slowly and surely. The State touches capital: it is lost.