In 1795 the expenses were 51,000,000
Revenue 17,000,000
Deficit 34,000,000
----------
In 1796 expenses and revenue were the same.
In 1797 the expenses were 42,000,000
Revenue 20,000,000
Deficit 22,000,000
----------
In 1797 the expenses were 31,000,000
Revenue 21,000,000
Deficit 10,000,000
----------
But when in 1799 the English and Russians invaded the country and the
revenues were appropriated according to the new style provided, the
expenses were 80,000,000, the revenue was 36,000,000, and the deficit
was 44,000,000. And these deficits, year after year, had to be covered
by extra loans, until at last a heavy loan was carried to pay the
dividends upon the original loan. Even with the three billions which the
republic was reported to have gathered during former centuries, there is
but one possible end to such a system of finance: That end is called
national bankruptcy.
[Illustration: A COUNTRY PLACE]