Hardly was that monarch laid in his grave ere the popular hatred,
suppressed so long, burst forth against his memory. He who, during his
life, had been flattered with an excess of adulation, to which history
scarcely offers a parallel, was now cursed as a tyrant, a bigot, and a
plunderer. His statues were pelted and disfigured; his effigies torn down,
amid the execrations of the populace, and his name rendered synonymous
with selfishness and oppression. The glory of his arms was forgotten, and
nothing was remembered but his reverses, his extravagance, and his
cruelty.

The finances of the country were in a state of the utmost disorder. A
profuse and corrupt monarch, whose profuseness and corruption were
imitated by almost every functionary, from the highest to the lowest
grade, had brought France to the verge of ruin. The national debt amounted
to 3000 millions of livres, the revenue to 145 millions, and the expenses
of government to 142 millions per annum; leaving only three millions to
pay the interest upon 3000 millions. The first care of the regent was to
discover a remedy for an evil of such magnitude, and a council was early
summoned to take the matter into consideration. The Duke de St. Simon was
of opinion that nothing could save the country from revolution but a
remedy at once bold and dangerous. He advised the regent to convoke the
states-general, and declare a national bankruptcy. The Duke de Noailles, a
man of accommodating principles, an accomplished courtier, and totally
averse from giving himself any trouble or annoyance that ingenuity could
escape from, opposed the project of St. Simon with all his influence. He
represented the expedient as alike dishonest and ruinous. The regent was
of the same opinion, and this desperate remedy fell to the ground.

The measures ultimately adopted, though they promised fair, only
aggravated the evil. The first, and most dishonest measure was of no
advantage to the state. A recoinage was ordered, by which the currency was
depreciated one-fifth; those who took a thousand pieces of gold or silver
to the mint received back an amount of coin of the same nominal value, but
only four-fifths of the weight of metal. By this contrivance the treasury
gained seventy-two millions of livres, and all the commercial operations
of the country were disordered. A trifling diminution of the taxes
silenced the clamours of the people, and for the slight present advantage
the great prospecti