The
Helvetii, in order to invade the Roman province of Gaul, burnt their
habitations, dropt their instruments of husbandry, and consumed in one year
the savings of many. The enterprise failed of success, and the nation was
undone.
States have endeavoured, in some instances, by pawning their credit,
instead of employing their capital, to disguise the hazards they ran. They
have found, in the loans they raised, a casual resource, which encouraged
their enterprises. They have seemed, by their manner of erecting
transferable funds, to leave the capital for purposes of trade, in the
hands of the subject, while it is actually expended by the government. They
have, by these means, proceeded to the execution of great national
projects, without suspending private industry, and have left future ages to
answer, in part, for debts contracted with a view to future emolument. So
far the expedient is plausible, and appears to be just. The growing burden
too, is thus gradually laid; and if a nation be to sink in some future age,
every minister hopes it may still keep afloat in his own.
Pages:
412
413
414
415
416
417
418
419
420
421
422
423
424
425
426
427
428
429
430
431
432
433
434
435
436