More than once, in your learned lectures, I have heard you deplore the precipitancy of the Chambers, who, without previous study and without profound knowledge of the subject, voted almost unanimously to maintain the statutes and privileges of the Bank.

Now these privileges, these statutes, this vote of the Chambers, mean simply this,--that the market price of specie, at five or six per cent., is not too high, and that the conditions of exchange, discount, and circulation, which generally double this interest, are none too severe.

So the government thinks.

M.Blanqui--a professor of political economy, paid by the State--maintains the contrary, and pretends to demonstrate, by decisive arguments, the necessity of a reform.

Who, then, best understands the interests of property,--the State, or M.Blanqui?
If specie could be borrowed at half the present rate, the revenues from all sorts of property would soon be reduced one-half also.