As to England, there may be some apprehension from vicinity, from constant communication, and from the very name of liberty, which, as it ought to be very dear to us, in its worst abuses carries something seductive. It is the abuse of the first and best of the objects which we cherish. I know that many, who sufficiently dislike the system of France, have yet no apprehensions of its prevalence here. I say nothing to the ground of this security in the attachment of the people to their Constitution, and their satisfaction in the discreet portion of liberty which it measures out to them. Upon this I have said all I have to say, in the Appeal I have published. That security is something, and not inconsiderable; but if a storm arises, I should not much rely upon it. [Sidenote: Objection to the stability of the French system.] There are other views of things which may be used to give us a perfect (though in my opinion a delusive) assurance of our own security. The first of these is from the weakness and rickety nature of the new system in the place of its first formation. It is thought that the monster of a commonwealth cannot possibly live,--that at any rate the ill contrivance of their fabric will make it fall in pieces of itself,--that the Assembly must be bankrupt,--and that this bankruptcy will totally destroy that system from the contagion of which apprehensions are entertained. For my part I have long thought that one great cause of the stability of this wretched scheme of things in France was an opinion that it could not stand, and therefore that all external measures to destroy it were wholly useless. [Sidenote: Bankruptcy.] As to the bankruptcy, that event has happened long ago, as much as it is ever likely to happen. As soon as a nation compels a creditor to take paper currency in discharge of his debt, there is a bankruptcy. The compulsory paper has in some degree answered,--not because there was a surplus from Church lands, but because faith has not been kept with the clergy. As to the holders of the old funds, to them the payments will be dilatory, but they will be made; and whatever may be the discount on paper, whilst paper is taken, paper will be issued. [Sidenote: Resources.]