It may readily be shown that this second system is not at all less defective than the first.

If I attempt to compare the French budget with the budget of the Union, it must be remembered that the latter embraces much fewer objects than then central Government of the former country, and that the expenditure must consequently be much smaller.

If I contrast the budgets of the Departments with those of the States which constitute the Union, it must be observed that, as the power and control exercised by the States is much greater than that which is exercised by the Departments, their expenditure is also more considerable.

As for the budgets of the counties, nothing of the kind occurs in the French system of finances; and it is, again, doubtful whether the corresponding expenses should be referred to the budget of the State or to those of the municipal divisions.

Municipal expenses exist in both countries, but they are not always analogous.