only propagated that belief, but it began paying them off. In time
this profession came to be abandoned : and it is not difficult to
see that bank notes will march the same way; for the amount of
them is only another debt under another name; and the probabi-
lity is that Mr. Pitt will at last propose funding them. In that
case bank notes will not be so valuable as French assignats. The
assignats have a solid property in reserve, in the national dos
mains ; bank notes have none; and, besides this, the English
revenue must then sink down to what the amount of it was before
the funding system began-between three and four millions; one
of which the arch-treasurer would require for himself, and the
arch-treasurer apparent would require three-quarters of a million
more to pay his debts. “ In France," says Sterne, " they order
these things better.”
I have now exposed the English system of finance to the

eres of all nations ; for this work will be published in all languages. In doing this, I have done an act of justice to those numerous citizens of neutral nations who have been imposed upon by that fraudulent system, and who have property at stake upon

the event. As an individual citizen of America, and as far as an individual

I have revenged (if I may use the expression without any immoral meaning) the piratical depredations committed on the American commerce by the English government. I have retaliated for France on the subject of finance : and I conclude with retorting on Mr. Pitt the expression he used against France, and say, that the English system of finance " IS ON THE VERGE. NAY EVEN IN THE GULF OF BANKRUPTCY."

THOMAS PAINE. Paris, April 8, 1796.

I

nat

can go,

TO

THE PEOPLE OF FRANCE. .

Paris, Sept. 25, 1793. FELLOW CITIZENS, I RECEIVE with affectionate gratitude, the honor which the late national assembly has conferred upon me, by adopting me a citizen of France; and the additional honor of being elected by my fellow citizens a member of the national convention. Happily impressed, as I am, by those testimonies of respect shown towards me as an individual, I feel my felicity increased by seeing the barrier broken down that divided patriotism by spots of earth, and limited citizenship to the soil, like vegetation.

Had those honors been conferred in an hour of national tranquillity, they would have afforded no other means of showing my affection, than to have accepted and enjoyed them; but they come accompanied with circumstances that give me the honorable opportunity of commencing my citizenship in the stormy hour of difficulties. I come not to enjoy repose. Convinced that the cause of France is the cause of all mankind, and that liberty cannot be purchased by a wish, I gladly share with you the dangers and honors necessary to success.

I am well aware that the moment of any great change, such as that accomplished on the 10th of August, is unavoidably the moment of terror and confusion. The mind, highly agitated by hope, suspicion, and apprehension, continues without rest till the

..

only propagated that belief, but it began paying them off. In time
this profession came to be abandoned : and it is not difficult to
see that bank notes will march the same way; for the amount of
them is only another debt under another name ; and the probabi-
lity is that Mr. Pitt will at last propose funding them. In that
case bank notes will not be so valuable as French assignats. The
assignats have a solid property in reserve, in the national do
mains ; bank notes have none; and, besides this, the English
revenue must then sink down to what the amount of it was before
the funding system began-between three and four millions; one
of which the arch-freasurer would require for himself, and the
arch-treasurer apparent would require three-quarters of a million
more to pay his debts. * In France," says Sterne, " they order
these things better."

I have now exposed the English system of finance to the eyes
of all nations ; for this work will be published in all languages.
In doing this, I have done an act of justice to those numerous
citizens of neutral nations who have been imposed upon by that
fraudulent system, and who have property at stake upon

the event.

As an individual citizen of America, and as far as an individual
can go, I have revenged (if I may use the expression without any
immoral meaning) the piratical depredations committed on the
American commerce by the English government. I have re-
taliated for France on the subject of finance : and I conclude
with retorting on Mr. Pitt the expression he used against France,
and say, that the English system of finance " IS ON THE YERGE.
NAY EVEN IN THE GULF OF BANKRUPTCY."

THOMAS PAINE.
Paris, April 8, 1796.

TO

THE PEOPLE OF FRANCE.

PARIS, SEPT. 25, 1793. FELLOW CITIZENS, I RECEIVE with affectionate gratitude, the honor which the late national assembly has conferred upon me, by adopting me a citizen of France; and the additional honor of being elected by my fellow citizens a member of the national convention. Happily impressed, as I am, by those testimonies of respect shown towards me as an individual, I feel my felicity increased by seeing the barrier broken down that divided patriotism by spots of earth, and limited citizenship to the soil, like vegetation.

Had those honors been conferred in an hour of national tranquillity, they would have afforded no other means of showing my affection, than to have accepted and enjoyed them; but they come accompanied with circumstances that give me the honorable opportunity of commencing my citizenship in the stormy hour of difficulties. I come not to enjoy repose. Convinced that the cause of France is the cause of all mankind, and that liberty cannot be purchased by a wish, I gladly share with you the dangers and honors necessary to success.

I am well aware that the moment of any great change, such as that accomplished on the 10th of August, is unavoidably the moment of terror and confusion. The mind, highly agitated by hope, suspicion, and apprehension, continues without rest till the

change be accomplished. But let us now look calmly and confidently forward, and success is certain. It is no longer the paltry cause of kings, or of this or that individual, that calls France and her armies into action. It is the great cause of all. It is the establishment of a new era, that shall blot despotism from the earth, and fix, on the lasting principles of peace and citizenship, the great republic of man.

It has been my fate to have borne a share in the commence. ment and complete establishment of one revolution, (I mean the revolution of America.) The success and events of that revolu. tion are encouraging to us. The prosperity and happiness that have since flowed to that country, have amply rewarded ber for all the hardships she endured, and for all the dangers she encountered.

The principles on which that revolution began, have extended themselves to Europe ; and an over-ruling Providence is regenerating the old world by the principles of the new. The distance of America from all the other parts of the globe, did not admit of her carrying those principles beyond her own boundaries. It is to the peculiar honor of France, that she now raises the standard of liberty for all nations; and in fighting her own battles, contends for the rights of all mankind.

The same spirit of fortitude that insured success to America; will insure it to France ; for it is impossible to conquer a nation determined to be free! The military circumstances 'that now unite themselves to France, are such as the despots of the earth know nothing of, and can form no calculation upon. They know not what it is to fight against a nation. They have only been accustomed to make war upon each other, and they know from system and practice, how to calculate the probable success of despot against despot; and here their knowledge and their experience end.

But in a contest like the present a new and boundless variety of circumstances arise, that derange all such customary calculations. When a whole nation acts as an army, the despot knows not the extent of the power against which he contends. New armies arise against him with the necessity of the moment. It is then that the difficulties of an invading enemy multiply, as in the former case they diminished ; and he finds them at their height when he expected them to end.