Page:Essays, Moral and Political - David Hume (1741).djvu/198

 Difference betwixt their absolute Government and our free one, would be more nominal than real.

The Source of Degeneracy, that may be remark'd in free Governments, consists in the Practice of contracting Debt, and mortaging [sic] the public Revenues, by which Taxes may, in Time, become altogether intolerable, and all the Property of the State be brought into the Hands of the Public. This Practice is of modern Date. The Athenians, though a Republic, paid Twenty per Cent. for Money, as we learn from Xenophon. Among the Moderns, the Dutch first introduced the Practice of borrowing great Sums at low Interest, and have well nigh ruined themselves by it. Absolute Princes have also contracted Debt; but as an Absolute Prince may play the Bankrupt when he pleases, his People can never be opprest by his Debts. In popular Governments, the People, and chiefly those who have the highest Offices, being always the public Creditors, 'tis impossible the State can ever make use of this Remedy, which, however it may be sometimes necessary, is always cruel and barbarous. This, therefore, seems to be an