monarchy has either been brought into our National Treasury or into the
privy purse of the Bonaparte family. Without the aid of Spanish money,
neither would our gunboats have been built, our fleets equipped, nor our
armies paid. The dreadful situation of the Spanish finances is,
therefore, not surprising--it is, indeed, still more surprising that a
general bankruptcy has not already involved the Spanish nation in a
general ruin.

When, on his return from Italy, the recall of the Russian negotiator and
the preparations of Austria convinced Bonaparte of the probability of a
Continental war, our troops on the coast had not been paid for two
months, and his Imperial Ministers of Finances had no funds either to
discharge the arrears or to provide for future payments until the
beginning of the year 14, or the 22d instant. Beurnonville was,
therefore, ordered to demand peremptorily from the Cabinet of Madrid
forty millions of livres--in advance upon future subsidies. Half of that
sum had, indeed, shortly before arrived at Cadiz from America, but much
more was due by the Spanish Government to its own creditors, and promised
them in payment of old debts. The Prince of Peace, in consequence,
declared that, however much he wished to oblige the French Government, it
was utterly impossible to procure, much less to advance such sums.
Beurnonville then became more assiduous than ever about the Prince and
Princess of Asturias; and he had the impudence to assert that they had
promised, if their friends were at the head of affairs, to satisfy the
wishes and expectation of the Emperor of the French, by seizing the
treasury at Cadiz, and paying the State creditors in vales deinero; notes
hitherto payable in cash, and never at a discount. The stupid favourite
swallowed the palpable bait; four millions in dollars were sent under an
escort to this country, while the Spanish notes instantly fell to a
discount at first of four and afterwards of six per cent., and probably
will fall lower still, as no treasures are expected from America this
autumn. It was with two millions of these dollars that the credit of the
Bank of France was restored, or at least for some time enabled to resume
its payments in specie. Thus wretched Spain pays abroad for the forging
of those disgraceful fetters which oppress her at home; and supports a
foreign tyranny, which finally must produce domestic misery as well as
slavery.

When the Prince and Princess of