an estate consisting of arable land, meadows, and vineyards,
containing the dwellings of the owner and the tenant; and worth,
together with the farming implements, one hundred thousand francs, the
rate of increase being three per cent. If, instead of consuming his
revenue, the proprietor uses it, not in enlarging but in beautifying his
estate, can he annually demand of his tenant an additional ninety francs
on account of the three thousand francs which he has thus added to
his capital? Certainly not; for on such conditions the tenant, though
producing no more than before, would soon be obliged to labor for
nothing,--what do I say? to actually suffer loss in order to hold his
lease.

In fact, revenue can increase only as productive soil increases: it
is useless to build walls of marble, and work with plows of gold. But,
since it is impossible to go on acquiring for ever, to add estate to
estate, to CONTINUE ONE'S POSSESSIONS, as the Latins said; and since,
moreover, the proprietor always has means wherewith to capitalize,--it
follows that the exercise of his right finally becomes impossible.

Well, in spite of this impossibility, property capitalizes, and in
capitalizing increases its revenue; and, without stopping to look at the
particular cases which occur in commerce, manufacturing operations,
and banking, I will cite a graver fact,--one which directly affects all
citizens. I mean the indefinite increase of the budget.

The taxes increase every year. It would be difficult to tell in which
department of the government the expenses increase; for who can boast
of any knowledge as to the budget? On this point, the ablest financiers
continually disagree. What is to be thought, I ask, of the science of
government, when its professors cannot understand one another's figures?
Whatever be the immediate causes of this growth of the budget, it is
certain that taxation increases at a rate which causes everybody to
despair. Everybody sees it, everybody acknowledges it; but nobody
seems to understand the primary cause.[1] Now, I say that it cannot be
otherwise,--that it is necessary and inevitable.

[1] "The financial situation of the English government was shown up
in the House of Lords during the session of January 23. It is not
an encouraging one. For several years the expenses have exceeded the
receipts, and the Minister has been able to re-establish the balance
only by loans renewed annually. The combined deficits of the y