THE TREASURY. 295 



however, long continue, for some of the 

 principal merchants appear desirous of fix- 

 ing a regular rate of exchange; and I have 

 no doubt but that when a new loan is rais- 

 ed in England, and public credit restored, 

 money will be as easily procured for bills 

 of exchange here as in any other part of 

 the world. A more distressing scene than 

 an exhausted public treasury cannot be 

 well imagined. Universal distrust is en- 

 gendered, and general confusion and per- 

 plexity arise. The government is compel- 

 , led to meet the positive exigencies of the 

 state, and supplies are indispensable. Des- 

 perate emergencies have desperate remedies, 

 and individuals are oppressed to obtain the 

 required aid and replenishment of the trea- 

 sury. As but precarious security can be 

 given at such times, people having money 

 are unwilling to part with it, and, unable to 

 obtain it as a gift or loan, the government 

 is under the necessity of using compulsory 



