May 18. The pecuniary distresses of France produced this year a measure of which there had been no example for near two centuries, & the consequences of which, good and evil, are not yet calculable. For it's remote causes we must go a little back.

Celebrated writers of France and England had already sketched good principles on the subject of government. Yet the American Revolution seems first to have awakened the thinking part of the French nation in general from the sleep of despotism in which they were sunk. The officers too who had been to America, were mostly young men, less shackled by habit and prejudice, and more ready to assent to the suggestions of common sense, and feeling of common rights. They came back with new ideas & impressions. The press, notwithstanding it's shackles, began to disseminate them. Conversation assumed new freedoms. Politics became the theme of all societies, male and female, and a very extensive & zealous party was formed which acquired the appellation of the Patriotic party, who, sensible of the abusive government under which they lived, sighed for occasions of reforming it. This party comprehended all the honesty of the kingdom sufficiently at it's leisure to think, the men of letters, the easy Bourgeois, the young nobility partly from reflection, partly from mode, for these sentiments became matter of mode, and as such united most of the young women to the party. Happily for the nation, it happened at the same moment that the dissipations of the Queen and court, the abuses of the pension-list, and dilapidations in the administration of every branch of the finances, had exhausted the treasures and credit of the nation, insomuch that it's most necessary functions were paralyzed. To reform these abuses would have overset the minister; to impose new taxes by the authority of the King was known to be impossible from the determined opposition of the parliament to their enregistry. No resource remained then but to appeal to the nation. He advised therefore the call of an assembly of the most distinguished characters of the nation, in the hope that by promises of various and valuable improvements in the organization and regimen of the government, they would be induced to authorize new taxes, to controul the opposition of the parliament, and to raise the annual revenue to the level of expenditures. An Assembly of Notables therefore, about 150. in number named by the King, convened on the 22d. of Feb. The Minister (Calonne) stated to them that the annual excess of expenses beyond the revenue, when Louis XVI. came to the throne, was 37. millions of livres; that 440. millns. had been borrowed to reestablish the navy; that the American war had cost them 1440. millns. (256. mils. of Dollars) and that the interest of these sums, with other increased expenses had added 40 millns. more to the annual deficit. (But a subseqt. and more candid estimate made it 56. millns.) He proffered them an universal redress of grievances, laid open those grievances fully, pointed out sound remedies, and covering his canvas with objects of this magnitude, the deficit dwindled to a little accessory, scarcely attracting attention. The persons chosen were the most able & independent characters in the kingdom, and their support, if it could be obtained, would be enough for him. They improved the occasion for redressing their grievances, and agreed that the public wants should be relieved; but went into an examination of the causes of them. It was supposed that Calonne was conscious that his accounts could not bear examination; and it was said and believed that he asked of the King to send 4. members to the Bastile, of whom the M. de la Fayette was one, to banish 20. others, & 2. of his Ministers. The King found it shorter to banish him. His successor went on in full concert with the Assembly. The result was an augmentation of the revenue, a promise of economies in it's expenditure, of an annual settlement of the public accounts before a council, which the Comptroller, having been heretofore obliged to settle only with the King in person, of course never settled at all; an acknowledgment that the King could not lay a new tax, a reformation of the criminal laws, abolition of torture, suppression of Corvees, reformation of the gabelles, removal of the interior custom houses, free commerce of grain internal & external, and the establishment of Provincial assemblies; which alltogether constituted a great mass of improvement in the condition of the nation. The establishment of the Provincial assemblies was in itself a fundamental improvement. They would be of the choice of the people, one third renewed every year, in those provinces where there are no States, that is to say over about three fourths of the kingdom. They would be partly an Executive themselves, & partly an Executive council to the Intendant, to whom the Executive power, in his province had been heretofore entirely delegated. Chosen by the people, they would soften the execution of hard laws, & having a right of representation to the King, they would censure bad laws, suggest good ones, expose abuses, and their representations, when united, would command respect. To the other advantages might be added the precedent itself of calling the Assemblee