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e¡¡in¡¡communication¡¡with¡¡the¡¡hamlet¡¡of¡¡Olette¡¡£¨747¡¡inhabitants£©£»¡¡&c¡£¡¡¡¡In¡¡1895¡¡alone¡¡90¡¡millions¡¡of¡¡francs¡¡were¡¡voted¡¡for¡¡railways¡¡of¡¡only¡¡local¡¡utility¡£¡¡There¡¡is¡¡other¡¡no¡¡less¡¡important¡¡expenditure¡¡necessitated¡¡also¡¡by¡¡electioneering¡¡considerations¡£¡¡¡¡The¡¡law¡¡instituting¡¡workingmen's¡¡pensions¡¡will¡¡soon¡¡involve¡¡a¡¡minimum¡¡annual¡¡outlay¡¡of¡¡165¡¡millions£»¡¡according¡¡to¡¡the¡¡Minister¡¡of¡¡Finance£»¡¡and¡¡of¡¡800¡¡millions¡¡according¡¡to¡¡the¡¡academician¡¡M¡£¡¡Leroy¡­Beaulieu¡£¡¡¡¡It¡¡is¡¡evident¡¡that¡¡the¡¡continued¡¡growth¡¡of¡¡expenditure¡¡of¡¡this¡¡kind¡¡must¡¡end¡¡in¡¡bankruptcy¡£¡¡¡¡Many¡¡European¡¡countriesPortugal£»¡¡Greece£»¡¡Spain£»¡¡Turkeyhave¡¡reached¡¡this¡¡stage£»¡¡and¡¡others£»¡¡such¡¡as¡¡Italy£»¡¡will¡¡soon¡¡be¡¡reduced¡¡to¡¡the¡¡same¡¡extremity¡£¡¡¡¡Still¡¡too¡¡much¡¡alarm¡¡need¡¡not¡¡be¡¡felt¡¡at¡¡this¡¡state¡¡of¡¡things£»¡¡since¡¡the¡¡public¡¡has¡¡successively¡¡consented¡¡to¡¡put¡¡up¡¡with¡¡the¡¡reduction¡¡of¡¡four¡­fifths¡¡in¡¡the¡¡payment¡¡of¡¡their¡¡coupons¡¡by¡¡these¡¡different¡¡countries¡£¡¡¡¡Bankruptcy¡¡under¡¡these¡¡ingenious¡¡conditions¡¡allows¡¡the¡¡equilibrium¡¡of¡¡Budgets¡¡difficult¡¡to¡¡balance¡¡to¡¡be¡¡instantly¡¡restored¡£¡¡¡¡Moreover£»¡¡wars£»¡¡socialism£»¡¡and¡¡economic¡¡conflicts¡¡hold¡¡in¡¡store¡¡for¡¡us¡¡a¡¡profusion¡¡of¡¡other¡¡catastrophes¡¡in¡¡the¡¡period¡¡of¡¡universal¡¡disintegration¡¡we¡¡are¡¡traversing£»¡¡and¡¡it¡¡is¡¡necessary¡¡to¡¡be¡¡resigned¡¡to¡¡living¡¡from¡¡hand¡¡to¡¡mouth¡¡without¡¡too¡¡much¡¡concern¡¡for¡¡a¡¡future¡¡we¡¡cannot¡¡control¡£



The¡¡second¡¡of¡¡the¡¡dangers¡¡referred¡¡to¡¡abovethe¡¡inevitable¡¡restrictions¡¡on¡¡liberty¡¡consummated¡¡by¡¡parliamentary¡¡assembliesis¡¡apparently¡¡less¡¡obvious£»¡¡but¡¡is£»¡¡nevertheless£»¡¡very¡¡real¡£¡¡¡¡It¡¡is¡¡the¡¡result¡¡of¡¡the¡¡innumerable¡¡lawshaving¡¡always¡¡a¡¡restrictive¡¡actionwhich¡¡parliaments¡¡consider¡¡themselves¡¡obliged¡¡to¡¡vote¡¡and¡¡to¡¡whose¡¡consequences£»¡¡owing¡¡to¡¡their¡¡shortsightedness£»¡¡they¡¡are¡¡in¡¡a¡¡great¡¡measure¡¡blind¡£

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This¡¡incessant¡¡creation¡¡of¡¡restrictive¡¡laws¡¡and¡¡regulations£»¡¡surrounding¡¡the¡¡pettiest¡¡actions¡¡of¡¡existence¡¡with¡¡the¡¡most¡¡complicated¡¡formalities£»¡¡inevitably¡¡has¡¡for¡¡its¡¡result¡¡the¡¡confining¡¡within¡¡narrower¡¡and¡¡narrower¡¡limits¡¡of¡¡the¡¡sphere¡¡in¡¡which¡¡the¡¡citizen¡¡may¡¡move¡¡freely¡£¡¡¡¡Victims¡¡of¡¡the¡¡delusion¡¡that¡¡equality¡¡and¡¡liberty¡¡are¡¡the¡¡better¡¡assured¡¡by¡¡the¡¡multiplication¡¡of¡¡laws£»¡¡nations¡¡daily¡¡consent¡¡to¡¡put¡¡up¡¡with¡¡trammels¡¡increasingly¡¡burdensome¡£¡¡¡¡They¡¡do¡¡not¡¡accept¡¡this¡¡legislation¡¡with¡¡impunity¡£¡¡¡¡Accustomed¡¡to¡¡put¡¡up¡¡with¡¡every¡¡yoke£»¡¡they¡¡soon¡¡end¡¡by¡¡desiring¡¡servitude£»¡¡and¡¡lose¡¡all¡¡spontaneousness¡¡and¡¡energy¡£¡¡¡¡They¡¡are¡¡then¡¡no¡¡more¡¡than¡¡vain¡¡shadows£»¡¡passive£»¡¡unresisting¡¡and¡¡powerless¡¡automata¡£

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