But this sort of penury and wretchedness is also common with the families of the former wealthy merchants and tradesmen.  Paper money, a maximum, and requisitions, have reduced those that did not share in the crimes and pillage of the Revolution, as much as the proscribed nobility.  And, contradictory as it may seem, the number of persons employed in commercial speculations has more than tripled since we experienced a general stagnation of trade, the consequence of war, of want of capital, protection, encouragement, and confidence; but one of the magazines of 1789 contained more goods and merchandize than twenty modern magazines put together.  The expenses of these new merchants are, however, much greater than sixteen years ago, the profit less, and the credit still less than the profit.  Hence numerous bankruptcies, frauds, swindling, forgeries, and other evils of immorality, extravagance, and misery.  The fair and honest dealers suffer most from the intrusion of these infamous speculators, who expecting, like other vile men wallowing in wealth under their eyes, to make rapid fortunes, and to escape detection as well as punishment—­commit crimes to soothe disappointment.  Nothing is done but for ready money, and even bankers’ bills, or bills accepted by bankers, are not taken in payment before the signatures are avowed by the parties concerned.  You can easily conceive what confusion, what expenses, and what; loss of time these precautions must occasion; but the numerous forgeries and fabrications have made them absolutely necessary.

The farmers and landholders are better off, but they also complain of the heavy taxes, and low price paid for what they bring to the market, which frequently, for want of ready money, remains long unsold.  They take nothing but cash in payment; for, notwithstanding the endeavours of our Government, the notes of the Bank of France have never been in circulation among them.  They have also been subject to losses by the fluctuation of paper money, by extortions, requisitions, and by the maximum.  In this class of my countrymen remains still some little national spirit and some independence of character; but these are far from being favourable to Bonaparte, or to the Imperial Government, which the yearly increase of taxes, and, above all, the conscription, have rendered extremely odious.  You may judge of the great difference in the taxation of lands and landed property now and under our Kings, when I inform you that a friend of mine, who, in 1792, possessed, in one of the Western Departments, twenty-one farms, paid less in contribution for them all than he does now for the three farms he has recovered from the wreck of his fortune.

LETTER XXVII.

Paris, October, 1805.