be immediately reserved; by contrary circumstances which, notwithstanding the most judicious measures, it was not possible to prevent, the departments were subjected to various incidents which contributed to produce a temporary scarcity of specie. The Bank having, from the nature of its operations, become the common centre of the major part of commercial negotiations, it is from its funds that the departments, and those who are embarked in any kind of undertaking, procure the specie for which they have occasion. The demand increased in proportion to the difficulties with which the Bank had to struggle, in order to keep up its reserved stock.-Till the last halt-year, an average sum of from 15 to 16 millions was sufficient for all its services. A sum so important, and which was found to be indispensable, was a sufficient proof of the disadvantages of the individual commerce of Paris, with the departments. The unforeseen events of the year, appear to have increased it. They are already well known. It is but too probable, that malevolence has contributed to the extraordinary run which has all at once been made on the reserve of the Bank. It is certain, that, till lately, the daily payments (deducting the receipts of Paris, and excepting the months of paying interest), did not exceed 5 or 600,000 fr. In the three last months they rose progressively to 14 and 15 hundred thousand francs, per day. These three last months, particularly, drew the attention of the government. Nothing had been neglected: the diminution of discounts, extraordinary arrivals from the interior, purchases of piastres, all were ineffectual. The reason of this is simple. In the first six months, the payments of the Bank, in specie, amounted to 123 millions ; those of the six last to 143,500,000 francs. Here is a difference of 20,500,000 francs, which is the amount of the reserved fund. This difference took place, notwithstanding the purchases of piastres, whch procured 17,500,000 francs during this half-year.The Bank relied on a remittance of four millions of piastres, which would have produced 21 millions in crowns. It was to have arrived in Fructidor and in Vendemiaire. The remittance was delayed. It is particularly to this circumstance, unçontrolable either by our will or our power, that the insufficiency of the measures and the resources for procuring a supply of specie must be ascribed.—Measures, the most active and the most extensive, were taken, the moment the increase of the paymer is, and the uncertainty of the resources were perceived. The governors hope, that the public will not fail to experience their good effects. We are now in the month, when the contributions arrive with facility, and in abundance. The Bank possesses good assets sufficient to justify the presumption, that their conversion into money will facilitate the means of soon returning to its ordinary course. Its embarrassment is only relative, and, for that very reason, it ought to give no serious concern. But it has furnished mistrust with a pretext for exaggerating dangers. Hence has arisen a distressing obstruction, the effects of which are felt every day. In fact, gentlemen, it has been demonstrated to the governors, that, in ordinary times, 4 or 500,000 francs in crowns, are sufficient to supply the daily circulation of the capital. Since the 2d of Vendemiaire, the Bank has issued about 600,000 francs per day, and the demand is not sensibly diminished. But, when it is considered that this scarcity is prolonged, notwithstanding the actual payment of nearly 1 millions in crowns, in the space of three weeks, we are tempted to ascribe it to cupidity, which spe culates on this temporary crisis, and to the mistrust which increases in the same ratio as the speculations of cupidity. The capital of the Bank remains, however, untouched; and it has been augmented by upwards of six millions. None of the bills to which mistrust seemed to attach discredit, was ever issued from the Bank, without being previously represented by its full value: Finally, the position of the Bank is such, that if the value of the assets which represent its capital be added to that which notes have brought into its possession, there is not one of those notes, the repayment of which, in specie, is not insured by an amount equal to twice its nominal indication. Consequently, no establishment of this kind can afford more security, more numerous motives for public confidence. Undoubtedly, gentlemen, we ought to endeavour to resume our payments in specie, and to exert every effort to attain that object. But you will likewise admit, that this desire ought to be subordinate to the wisdom of a foresight, more necessary than ever; and that, in consequence of the machinations of mistrust, it is prudent to wait till the reserved fund is provided with such an abundance, as to prevent the credit of the Bank from being again compromised by immoderate demands. The most important duty of the governors, at the present moment, is, not to lose sight of the daily nccessitics of Paris, with regard to specie, ror the inconveniences inseparable from a too great scarcity of the circulating medium. It therefore behoves them to employ the ut sures. most circumspection in their future meaTheir eagerness, laudable, without doubt, ought not to expose this great city to a want which might occasion the heaviest calamities. It is necessary for the Bank, the common centre of operations, to consider what would be the results to itself of a great commotion. This consideration has made still more apparent the necessity of continuing the distribution of aids: it has neglected nothing to attain the object it was its duty to keep, in view, under such circumstances. It has provided for the most urgent wants, and has employed every means to restore the abundance of specie. It has been inspired with new hopes of the arrival of the piastres, the delay of which has contributed to its embarrassment; but what will prove still more efficacious, are the wise and vigorous measures taken by his Majesty the Emperor and King, to render France triumphant over her enemies. Yes, gentlemen, the success of his arms will dispose every mind to confidence, which a glorious peace will consolidate. The specie concealed, or hoarded up, will again return into general circulation. This crisis will only serve to convince the incredulous, that, with its system and its capital, the Bank can never experience any but temporary embarrassments. CONTINENTAL WAR.Proceedings in the Tribunate of France on the 26th of September 1805, relative to the War with Austria. In the name of the special commission, formed in the secret sitting of the 24th instant, and composed of Messrs. Fabre (de l'Aude), President of the Tribunate, Tarrible and Duvidal, Secretaries; Faure, President of the Section of Legislation; Guardin, President of that of the Interior; JardFanvilliers, Questor, Jaubert, Freville, Leroi, Jube, and Carrion-Nizez, M. Freville, Reporter of the Commission, appeared at the tribunate, and spoke as follows: Gentlemen, if at the epoch when the accla mations of Europe ratified the treaty of Luneville, any person had said, this monument of the most brilliant victories, of the most skilful negotiations, will scarcely stand four years, you would have rejected with impatience this sinister prediction; you would have exclaimed, has not the conqueror given the highest proofs of moderation and wisdom? Has he not combined advantages which he ought not to have given up, with compensations the most satisfactory, for a power whom victory had so little favoured? If he had persisted in affirming, that the same power, so often overcome in battle, so much favoured in treaty, should dare to rekindle the torches of war, you would only have found in this supposition a stronger motive for an honourable incredulity; for the wisdom of politicians consists in well appreciating the true interests of governments, but not in foreseeing all the wanderings of the most extravagant passions. However, gentlemen, this sweet persuasion had only subsisted, in all its force, at the very moment when peace was signed. Soon the different steps of Austria warranted the belief, that she would rather prefer the sugges tions of an inveterate hatred, than the councils of sound policy. You have seen her, gentlemen, reveal herself, in a thousand circumstances, by malevolent measures, by proceedings almost hostile. You have found your own observations in the picture so faithfully traced by the Minister of Foreign Affairs. Your commission will only produce details, which you too well understand, to make it necessary for me to repeat them; and which, besides, have been so happily placed in their true light, that a new exposition cannot alter their accuracy, nor diminish their interest. There is no occasion for us to dwell upon each of these particular grievances, in order to unravel the sentiments, or to explain the conduct, of the Austrian government. What we have often expected, has this day been proved. The Cabinet of Vienna, weakened by long efforts, and frightened by the most cruel reverses, was compelled to make peace; but, at the very moment that she proffered the oaths, she only wished to procure a truce, and time to recruit her forces, in order to engage with France in a new struggle. With obstinate enmity she equally resisted generosity and victory. Nothing could soften or subjugate her. 1 This is not the first time that Austria has trifled with treaties; she has now violated the peace of Luneville, as she did that of Campo-Formio. Scarcely had her conqueror quitted Europe, than she launched anew into the field of battle; her success only lasted during the absence of the hero; one day alone tore from her the conquests of a year. The memorable battle of Marengo, the news of which Europe heard with adiniration, was not able to inspire our en my with a sincere desire of peace. An arnaistice had been granted to her vanquished and almost captive army, a solemn convention had been negotiated in her name at Paris, she dared to refuse its ratification. French government manifested its indigna tion; Austria offered, as a piedge of her good faith, several fortresses in Germany. Well, gentlemen, this deceitful pledge was The principal object of its efforts, and of its expenditures. Every thing is now explained; England was the advanced guard of this coalition, which at length determines to attack us with all its forces. If Great Britain commenced by contending alone with us, it is because her insular situation and maritime preponderance, inspired her with a blind confidence, particularly in the first epoch of the war. She did not reckon on the prodi in our hands, an Austrian ambassador went to Luneville, and it was still necessary that the fate of arms should decide.-Is not the hatred of this implacable enemy of France sufficiently characterised? She commences the war, with the intention of stripping her of many provinces. When she obtains a momentary success, she does not profit by it, in making overtures of peace; but, when at length she solicits it, it is only after a long continuance of defeats, and with a fixed de-gious activity, which has been able, in so termination of breaking it, as soon as she thinks herself strong enough to return to battle. Gentlemen, let us compare these different circumstances of the actual determination of Austria, and the secret of the long understanding of our enemies will be completely revealed. We do not here see the commencement of a new war; this which now blazes up, is the same which burned thirteen years since, and which, according to the intention of Austria and England, was only suspended, not terminated. Austria, more exposed to our arms, retires first from the field of battle. This apparent defection makes no difference between her and the Cabinet of St. James's. We cannot now doubt, but that her formal consent has authorised her ally to seek the advantages of a suspension of arms, under the pretence of peace. They did not delay to affect pacific intentions, and the treaty of Amiens was concluded. The momentary cessation of hostilities promised many advantages to the British government. It thus deceived the nation, which murmured against the prolongation of the war, and concealed its true intentions. It flattered itself, that the security of France, equalling her good faith, would give them an opportunity of gaining, by a new aggression, those odious advantages which they so often procure in the commencement of a war before it is declared. It flattered itself, that a part of our naval forces would become its prey, as easily as the greater part of our commerce. In short, it appearing to concur in the general repose of Europe, it better concealed the perfidious mystery which united it to the Court of Vienna.-Now, gentlemen, it is easy to perceive a rupture, which has no less excited our astonishment than our indignation. That England was sincerely reconciled with France, could not be a cause of surprise, but it was difficult to know how the Cabinet of St. James's should determine to neglect the aid of all continental alliance, and draw on itself alone all the weight of our forces, and to provoke the re-establishment of our navy, in putting the French government into a position that must make it the short a time, to launch fleets into all the seas, to construct and unite that immense flotilla, the importance of which may be judged of by the fears of those which it menaces. -You may have remarked, gentlemen, whilst our preparations augmented the terror of England, her ministers, sacrificing a part of their secret to the necessity of tranquillising the public mind, shewed themselves disposed to encourage the hope of continental alliances. Finally, when the danger became more pressing, towards the end of the last session of parliament, when they were about to vote five millions sterling, for the subsidies to be employed in the present year, if the opposition had asked, of what effect the intervention of Russia would be, without that of Austria? They would only have appeared embarrassed to conceal that they were certain of it.-These facts all tend to produce the same conviction; they are recent; they are known to all Europe. The Cabinet of Vienna hoped to bury these facts in oblivion, whilst it alleged, I know not what pretexts, relative to ameliorations, which the inhabitants of some parts of Italy had desired in their political existence. The treaty of Luneville found and left them under the influence of France, in guaranteeing to them, in the most formal manner, the right of giving to themselves the government which would best suit them. Assuredly, France was well authorised to enrol this maxim in the public law of Europe; sufficient energy, constancy, and success, had consecrated it.-This power, which sends her soldiers to provoke a war, in which her intervention is so foreign, is no longer ignorant of the force of our arms. The distance which separates the French empire from the Russian empire, reduces their relation to an extreme simplicity, and prevents between them any real subject of discussion. What is the portion of territory about which they can dispute? Have they ever even seen those fleets which bring together the most distant enemies, to weigh the fortune of the two flags against each other. These powers are so destined to be strangers to each other, that, at the time when the course of events so tardy, whose return was so precipitate.You have not forgotten, gentlemen, what was the agony of England; her ships were wandering through every sea, to learn where the French ships appeared; every day she saw the arrival of new battalions on our coasts; the necessary barks to transport numerous armies, united in those ports best situated for sending out the expedition. All was prepared; they only waited him from whom victory is never separated; but, in the midst of these most formidable preparations, his heart has not, for one single instant, swerved from the wish for peace; he strove to cherish this generous hope so long as Austria was not ready to throw down the gauntlet. I appeal to your memory, gentlemen, that hardly had we learned that the Russian negotiator had gone back, than we learned the movements of the Austrian troops. Thus they professed a desire for peace only, that they might the better prepare for war; and whilst they announced the noble ambition of restoring tranquillity to Europe, they disposed themselves to deluge it in blood.-It is impossible to dissemble, gentlemen, that England has obtained a great advantage; but is it over us or over her own allies?-Our August Monarch, in preparing to punish the perjury of the English, flattered himself, that the calamities of war would not be extended to the Continent. He had been so generous! Could he have suspected perfidy? He is so powerful! Could he have imagined that they would dare to defy him? When a coalition, conducted as a conspiracy, comes to interrupt the execution of his projects, it does not result, that they must be abandoned. The whole of his forces will not be directed against England, shall allow them to sign a treaty of peace, they must confine themselves merely to stipulate for the re-establishment of a good understanding. This has ceased for more than a year; and, down to the present day, it is only known on one side or the other, by the absence of their diplomatic agents. If Russia now decide upon open hostilities, what motive then can she assign for engaging in them? She has manifested fears for the balance of power in Europe. Yes, the balance of power was menaced, when, fifty years after the treaty of Westphalia, Russia came by surprise, as it were, into the system of Europe. The balance of power was deranged towards the middle of the eighteenth century, when Russia, taking advantage of the blindness with which Austria had struck the French government, united with her to oppose Prussia, which the Cabinet of Versailles had attacked with so much folly, when it ought to have employed all its efforts to create in Germany the Prussian power, if it had not already existed, there. Could not Russia better evince her solicitude for the equilibrium of Europe, than by undermining the independence of Sweden, which was only saved by the revolution of 1772? Or, by preparing the annihilation of Poland, by the first partition, in which every observer beheld the gem of the most dreadful commotions? Is it then, also, to insure the balance of power in Europe, that Russia has employed against the Cttoman Porte the force of her arms, the resources of intrigue, and repeated invasions? At one period (which can never be obliterated from the memory of all mankind), in 1791, the same minister who governs Great Britain at this moment, raised a cry of alarm against Russia. There was nothing less than an oppo-but will dispute with her the sea, at the same sition the most decided in public opinion, and even in the parliament, to prevent recourse to arms, for the purpose of defending against Russia the equilibrium of Europe. And what was the object then? To obtain some amelioration in favour of Turkey, in the conditions of peace. What, then, can the present minister say now, when the Emperer of Russia is as well obeyed in Constantinople as at St. Petersburgh?-But the time of political combinations is passed; it has given place to a junction of hateful pas sions. It must be confessed, that the most perfect harmony reigns, in this respect, between England and Russia. We need no other pronobis wonderful concord, than the the the negotiator, whom as every moment time that he subdues the provinces of her allies. Perhaps, even she may prepare for him other triumphs. Has she not made the flattering menace of employing a part of her troops upon the Continent?In a word, should the chances of a Continental war answer the hopes we are authorised to form, from that moment it will be decided, that the fortune of England must bend under the ascendancy of France.If, then, the British government, for the moment, diminishes its dangers, if it turn the thunder on its allies, it is only over their blindness that it triumphs. How has it happened that Austria has so soon forgotten so many reverses ? How does it happen that she is so completely ignorant of the difference of the epochs? When she adopted this system of eternal enmity, of fallacious negociations, of wars incessantly interrupted NY and rekindled, she regarded time as a pre-constantly victorious, who had subdued Fri cious auxiliary. All was changeable in France, except the courage of her armies. Troubles incessantly starting up, threatened every day to annihilate the result of the most splendid victories. Every instant afforded reason to fear, that all the resources of administration would be at once destroyed. Too well acquainted with our misfortunes, to which they are no strangers, our enemies consoled themselves for the loss of a battle, with the hope of the news of an insurrection. But what have those times in common with the present? Eternal agitations have given place to tranquillity the most profound; the fury of change is converted into the spirit of perfecting. The energy of the nation, which had been absorbed in civil troubles, is now entirely turned to useful labours. The sentiments of domestic enjoyments are so much the more lively, as they have been so long and grievously suspended. Every day, from one extremity of the empire to the other, vows are addressed to Heaven for him who has restored to the state her splendour, and to her citizens, repose and confidence in the future. Our enemics have no more to watch the play of factions, or to hope in storms; this would be the grossest error of the strongest credulity.-If they cannot in this point deceive themselves so far upon the state of the empire, they must know still better the armies which have left them immortal remembrances. The boiling courage which distinguished them in the war of independence is not grown cold. · Never was ardour more truly great, never was the confidence of the troops in themselves and in their leaders, carried farther. Those sentiments which produced those exploits, those prodigies, which Europe cannot for a long time forget, exist in all their force. Every probability unites to promise us triumphs still more briliant, if possible. Those warriors who have acquired the admiration of the world, have never been enflamed by passions more generous, or influenced by motives more powerful over the hearts of the brave. They go to combat under the eyes of their Monarch, whom they love as their country and their glory; they go to combat under the eyes of him, whom even his enemies have named the first captain of his age. There is another title, gentlemen, which he has not less merited, and of which he has shewn himself yet more jealous, it is that of Pacificator. The conqueror of Montenotte, of Arcole, and of Rivoli, might have conducted his army to the capital. He preferred stopping at Tolentino, to give peace to the Sovereign Pontiff. The general, oul, Carniole, Carinthia, and Styria, might have been tempted to one march farther, of two days, to enter the capital of Austria. He preferred addressing to the Archduke Charles the language of peace and philanthropy, which will secure to him, from age to age, the blessings of posterity. From the time he took in hands the reins of government, what has been his first pursuit ? He proposed peace. After having borne refusals, after having surpassed, in the brilliancy of his victories, the nation's hopes, he shewed himself still ready to negociate. Already we have had occasion to remark to you, what patience he manifested in granting successively to Austria the different armistices which preceded the treaty of Luneville; with what alacrity he caught at the first words of peace, which escaped the cabinet of St. James's. The strongest proofs might farther be adduced, to shew to what an extent the love of peace is invariably implanted in the heart of his Majesty. Since the violation of the treaty of Amiens, we have many times had to tremble at seeing parricides threaten his life, and we have been compelled not to doubt but that the British government has encouraged these frightful attempts. Has not the Emperor stifled his just resentment, to listen to the voice of humanity? Never could his rights have been claimed with more eloquence and magnanimity, than in that letter to the King of England, the reading of which has filled you with such religious tenderness. The same sentiments inspired his Majesty in his late relations with Austria. Already a thousand circumstances combined to betray hostile intentions; the Emperor forced himself to doubt; he demanded explanations from the cabinet of Vienna; he returned to the charge, to obtain new information; he endeavoured to open their eyes to their true interests; he pressed all the neighbouring states to join their remonstrances to his. He went so far as to impose silence on his pride, to oppose instances of reasoning to their injurious allegations; when the armies of Austria, invading Bavaria, have annihilated every other resource but that of arms.This heroic moderation has then been fruitless for peace; however, it will not be altogether without produce. The Emperor will find his reward in the gratitude of his ́ people. The more the Monarch has shewn his solicitude to spare it the sacrifices required by war, the more the nation will display its zeal and energy to defend the cause of the throne and of the empire. Those who now provoke us, are the same |