ankruptcy impending,--this indemnification
Austria never can pay to the former aristocracy of Hungary. The only
means to get this indemnification is the restoration of Hungary to its
independence by a new revolution. Independent Hungary can pay it,
because it has no debts, will want no large standing armies, and will
have a cheap administration, because not centralized, but municipal, the
people governing itself in and through municipalities, the cheapest of
all governments.

Hungary has already pointed out the fund, out of which that
indemnification can and will be paid, without any imposition upon the
people, or any loss to the commonwealth. Hungary has large State lands,
belonging to and administered by the commonwealth. I have mathematically
proved that the landed property of the State, sold in small parcels to
those who have yet no land, connected with a banking operation founded
upon that property itself, to facilitate the payment of the price, is
more than sufficient for that indemnification; besides, a small land tax
(which the new owners of that immense property, divided into small
farms, will have to pay, as other landed proprietors), will yield more
revenue to the Commonwealth than all the proceeds of domestic
administration.

This my proposition, having been submitted to the National Assembly, was
accepted and approved, and has attached to the Revolution the numerous
class of farm-labourers who have not yet their own farms, but who
contemplated with the liveliest joy this benevolent provision, which
Austria can never execute; since, financially ruined as she is, she
cannot be contented either with the tax revenue or the banking
arrangement, to defray the indemnification; she sells the stock whenever
she can find a man to buy it.

But here is a remarkable fact, proving how little is the future of
Austria contemplated as sure even by its votaries. When any one is
willing to sell landed property in Hungary, foreign bankers, Austrian
capitalists buy it readily at an enormous price, because they know that
private transactions will be respected by our revolution; but _from
the Government_, nobody buys a single acre of land, because every man
knows that such a transaction must be considered void. Nay more, not
even as a gift is an estate accepted by any one from the present
government. Haynau himself was offered in reward a large landed property
by the government; he did not accept it, but preferred a comparativ