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For my own part I am deeply convinced that all excess in the public expenditure beyond the legitimate wants of the country is not only a pecuniary waste—for that is a comparatively trifling matter—but a great political and a great moral evil. It is a characteristic of the mischief which arise from financial prodigality, that they creep onwards with a noiseless and surreptitious step; that they are unseen and unfelt until they have reached a magnitude absolutely overwhelming, and then at length, we see them, as perhaps they now exist in the case of one at least among the great European nations, so fearful and menacing in their aspect that they seem to threaten the very foundations of national existence. (en) |