206 THE MEKCIIANTS' NOMINAL COMPLIANCE.

that, under these peremptory considerations, he did not doubt the gentlemen addressed would, by their compliance, hasten to avoid the monstrous reproach of sacrificing the good of the state to their personal interests.

The result of this j)acißc conference was that, on the morrow, the fair opened under the retro-active system of the new ukase, the solemn publication of which was made after the assent and the promises of the first merchants in the empire had been thus obtained.

This was related to me by the governor himself, with the intention of proving to me the gentleness with which the machine of despotic government works — that machine so calumniated by people governed under liberal institutions.

I took the liberty of asking my obliging and interesting preceptor in oriental politics, what had been the result of the government measure, and of the cavalier manner in which it was judged right to put it in execution.

" The result has exceeded my hopes," replied the governor, with a satisfied air. " Not one bankrupt! ... All the new bargains have been concluded under the new monetary system ; but what will surprise you is the fact, that no debtor has availed himself, in paying his old engagements, of the power which the law gave him of defrauding his creditors."

I confess that at the first view this result appeared to me astounding; but, on reflection, I recognised the astuteness of the Kussians : the law being published, it was obeyed — on paper; and that is enough for the government. It is easily satisfied, I admit:


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