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A new distemper has spread itself over Europe, infecting our princes, and inducing them to keep up an exorbitant number of troops. It has its redoublings, and of necessity becomes contagious. For as soon as one prince augments his forces, the rest of course do the same; so that nothing is gained thereby but the public ruin. Each monarch keeps as many armies on foot as if his people were in danger of being exterminated: and they give the name of peace [14] to this general effort of all against all. Thus is Europe ruined to such a degree that were private people to be in the same situation as the three most opulent powers of this part of the globe, they would not have necessary subsistence. We are poor with the riches and commerce of the whole world; and soon, by thus augmenting our troops, we shall be all soldiers, and be reduced to the very same situation as the Tartars. [15]

Great princes, not satisfied with hiring or buying troops of petty states, make it their business on all sides to pay subsidies for alliances, that is, generally to throw away their money.

The consequence of such a situation is the perpetual augmentation of taxes; and the mischief which prevents all future remedy is that they reckon no more upon their revenues, but in waging war against their whole capital. It is no unusual thing to see governments mortgage their funds even in time of peace, and to employ what they call extraordinary means to ruin themselves — means so extraordinary indeed, that such are hardly thought of by the most extravagant young spendthrift.