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The readiness with which the people, the masses of his subjects, subscribed to the great war-loans, contending for subscriptions as for valuable privileges, establishes both their prosperity under his government, and their confidence in that government's strength and permanence.
Did he really believe that such a debt would pay its own interest, without additional taxes, or did he rely on economy of expenditure and good administration, not only to balance the ordinary accounts, but to cover the interest of the war-loans which he was obliged to contract? How far did his cheerful manifestoes deceive himself?
Ladies were admitted to the galleries, but gentlemen only were seated at the tables, and among the guests were many of the most prominent bankers and merchants of Germany, including capitalists who had been the first in Europe to invest in the war-loans offered by our government. The dinner lasted three hours.
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