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the last fourteen years ? We have not as however, correct, for India furnishes most doubt but that in so far as they have been of the countries bordering on it. India, no used as money—and that is their main em- doubt, is a great importer, because it has ployment—they have acted as stimulants to neither gold nor silver of its own. To call it the production of new wealth, and been them- a sink on this account is not a whit better selves absorbed in its representation. In a than to call it a sink of copper, tin, and zinc, word, the wealth of the whole world, or at none of which it produces itself, but which least of all the civilized parts of it, has been it imports largely, and does not re-export. increased by a sum equal to double the China, which has both gold and silver of its amount of the gold and silver which has own, and all the metals just referred to, imbeen of late years poured into it.
ports and exports gold and silver at its conEvidences of the prosperity produced by venience, like any European country. the influx of the precious metals is readily
Much of the silver of France, Germany, found. It has, as might be expected, been and other parts of Europe has been sent to most striking at the sources of discovery, India and China and replaced by gold, and California and Australia. There the wages this is supposed to have contributed to keep of labor have been more than doubled, and up the price of gold, and to account for the the population more than trebled. Austra- absence of depreciation in it. But the opera lia, with a population of 1,200,000, consumes ation is a mere transfer of localities produced at their English valuation £10,000,000 worth | by the demands of trade, leaving the quantiof British and colonial productions, besides ties of the two metals just what they were ; much received from India, its islands, China for the wide world, and not France and Gerand Western America. The history of the many, is the market of the precious metals. world affords no example of such prosperity In one quarter, and to our very great surwithin so short a time. Both there and in prise, we find the gold of California (about California flourishing and populous towns £180,000,000) supposed to have been abhave arisen, whose very foundations were sorbed in replacing the paper money of the hardly laid before the gold discoveries.
United States of America. But the paper With ourselves, our imports and our ex- money of America is far more abundant at ports have both been doubled,—a result un- this moment than it was before the gold disknown at any previous period of our com-coveries, and gold, by the latest accounts, at mercial history within so brief a time. Eren a premium of twenty-nine per cent and promthe wages of labor have risen, without any ising to be at a much higher one. rise in the cost of the necessaries of life. If the new gold and silver were to undergo What is still more remarkable, the wages of depreciation from excess of quantity, that labor have greatly risen in stagnant India, result ought to have happened long ago, while where they had been fixed and stationary for the supply was at the highest point and the many a century—all the work of the many market for it at the narrowest. Now that the millions' worth of silver which Britain has supply is stationary and the market greatly poured into it for the last ten years. expanded, we must come to the sure conclu.
To the minor causes which have contrib. sion that there is no chance at all of depreuted to the consumption of the new gold and ciation. Fixed incomes, then, will suffer silver, we attach little importance, because nothing ; debtors will not be afforded an opthey are only the same which have always portunity of paying their debts in sovereigns been in operation, and now only greater be- intrinsically worth only ten shillings, nor will cause there is more gold and silver to con- the nation be able to pay off half its debt by
There is more of gold and silver used defrauding its creditors of half their incomes. in the arts, but simply for no other reason Allowing the handsome sum of £60,000,000 than because there are more persons than for plate and jewelry, the world, according before that can afford to purchase plate and to our view, is by a thousand millions sterjewelry. India has been called a sink of the ling richer than it was fourteen short years precious metals, because it receives much and ago, --consequently more powerful, and, let and exports none; the last conclusion is not, us hope, not less virtuous and happy.
From The Saturday Review. carefully edited at the expense of the Gor: THE SOURCES OF FRENCH LITERATURE.* ernment, and the modern school of French
FOR the last two or three years the press historians has deservedly earned a very high of Paris has been wonderfully prolific, and reputation. Much, however, will always rein the numbers of its offspring bas far sur-main to be done where the materials are so passed the publishing activity of every other rich and the subject so vast. NotwithstandEuropean capital. This exuberant fertility ing the labors of Guizot and Thierry, there is, no doubt, favorable to the production of is ample room for new-comers, who only much which, if not absolutely worthless, is labor under the disadvantage of having to merely ephemeral. There are, however, very follow leaders whose achievements it may numerous exceptions to the average medi- prove difficult to equal. ocrity. Many real students have of late The aim of M. Moland's essay is rather produced, either in the form of essay or crit- an ambitious one, and its title seems to icism, very valuable contributions to con. promise more than is performed ; it is, howtemporary literature. Among the better ever, a very useful contribution to the hiss class of literary men there seems to prevail tory of early French literature, and is obvia remarkable disposition to follow out liter- ously the result of long and careful study of ary or historical researches in a careful and a rery difficult subject. He proposes to conscientious manner. It may be true that trace the development of three branches of the Second Empire has not yet been made French literature, starting from the period illustrious by the appearance of any single when the debased Latin passed into the work that will take its place among the great French of the tenth and eleventh centuries, classics of France; but there can be no He successively examines the early romances question that literature, generally speaking, and legends in prose, the origin of the is in as favorable a condition as it was dur- drama, and the language and character of ing the reign of Louis Philippe. And it may the early French preaching. These three well be that the imperial system, which ex- forms of intellectual development, apparently clus all free discussion from the arena of so distinct, all sprang from the same origin. politics, has induced many active-minded They were all the offspring of the Church, men to devote to literary studies the ener- and in different ways they all attempted to gies which might otherwise have been given give expression to a religious and devotional to politics. At the present moment the sentiment. Romance, in the first instance, questions which most interest France and was intimately connected with, or rather Europe are forbidden ground to all except formed a portion of, the religious legend. the slavish advocates of Napoleonism. No It soon became distinct from it, but long French thinker can venture to speak his retained the traces of its origin. Similarly, mind on the Roman question, or even on the the drama was, in its infancy, purely sacerMexican expedition ; but there is ample lib- dotal. It remained so for a considerable erty to prosecute philosophical inquiries into time. Gradually it included profane as well the state of opinion in the age of Charle- as sacred subjects, but it was not till the magne, or the administration of France in sixteenth century that it wholly lost its primthe reign of Henri IV. Fortunately, the itive character. The use of the French lanhistory of France and its language is an in- guage by ecclesiastics in the churches was exhaustible mine, and we have every reason doubtless simultaneous with its employment to be grateful to those who explore it with in legend and romance, as it was the only so much zeal and patience. Each new in- mode by which they could make themselves vestigation may add something to our knowl- intelligible to the people; but the vulgar edge of bygone times, and is made more tongue found little favor with the clergy, valuable when followed out with the rules of and there are in consequence but few exam. scientific examination and the light of mod- ples remaining of sermons in the early ern history. Of late years a vast deal has French. Sermons were probably composed been done for French history. Many im- in Latin, and translated into the vernacular portant manuscripts have been printed and dialect; but if they were preserved, it was
* Origines Littéraires de la France. Par Louis usually in the Latin language. Moland. Didier et Compagnie. Paris: 1862. pears from the sermons of St. Bernard, of
which a manuscript in French is extant. ¡ claimed. They are the work of a peculiar
of the union of austerity with heroism, of civilization.
and chastity of the priest for the knightly • To this period also belong the earliest warrior, and endeavored to extend to the prose romances. They have, perhaps, re- army of soldiers the same reform which ceived less attention than the poetry of the Gregory VII. had imposed upon the priestsame age, though not less deserving of con
hood. sideration for the light which they throw on
“ We believe that this was the spirit and the formation of the French language as the Norman compilers designate the vielle
design of the work written in Latin which well as for their bearing on the intellectual histoire and the haute histoire. In some history of those times. Besides this, the portions of the French cycle, especially in prose romances are of colossal bulk, and the Romance of Saint Graal, it is clear from have been for the most part known only the evidence of the translation that the rothrough the very imperfect reprints of the mance writers of the twelfth century folsixteenth century. But, in M. Moland's lowed the original to which they refer with view, they form an exact counterpart to the ceived by the monastic spirit was not des
tolerable fidelity. But the severe ideal con. metrical romances and Chansons de Geste of tined to triumph. The passion for adventhe same period. The former were intended ture, for dangerous enterprises, for brilliant to be read the latter to be recited or de- feats of arms, increased steadily. Chivalry
discarded a belief in ascetic purity for that are attributed to the Bishop of Paris, Mau. passionate idolatry of woman which soon rice de Sully. The style of these discourses became its first duty and motive. Thus, the is some evidence of their authenticity and profane element soon preponderated over their design. They are evidently composed the ecclesiastical one. Wheir nobles or complaisant ecclesiastics remodelled and ampli
for a popular and ignorant audience. There fied the old work, they introduced innumer- is neither scholastic subtlety, allegory, nor able episodes to gratify modern tastes. science. The ideas are precise and practi. They mixed with the mystical pictures of the cal, the illustrations familiar, and taken from old book others more fitted to flatter the im-every-day life. There are sometimes introagination of their readers. These are not duced legends for minds with an appetite, the only incompatible influences which made
like that of children, for the marvellous. It the vast cycle of fiction so discordant with itself. The book is made, not only to ex
was the commencement of French preachpress contradictory ideas, but it has been ing. These discourses were for a long time worked at by races essentially different in the model of the instructions that were adfeeling. Originally, it was manifestly the dressed every Sunday to the congregation. fruit of the Celtic genius, of which it pos- There are many copies of them which belong sessed the principal characteristics ; then la to the thirteenth and fourteenth centuries. haute histoire suddenly fell into other hands, The other collections of this class belong to and the Norman genius took up and continued the work of the Breton."
pretty nearly the same age, and are in style
and character the same. But much of the Upon this principle M. Moland believes best preaching was still in Latin. Thus the that the Cycle of Saint Graal is to be inter- growth of French eloquence, and the develpreted, and that it may be considered as the opment of the language in preaching and most important literary monument of the public speaking, was retarded. In the secefforts to carry out the theocratic principle ond half of the fourteenth century, and the in the eleventh century-efforts which soon beginning of the next, there was a remarkfailed utterly, and which were afterwards able religious and political movement. As condemned by the popes themselves. The society became more civilized, the power and Romances of Saint Graal and the Round the influence of the practised speaker inTable were expressly prohibited by the creased. The same faculties were equally court of Rome in the fourteenth century, at useful to the ambitious layman and to the the same time that the Order of Templars ecclesiastic. Thus was gradually formed the was abolished. We regret, on a subject so school of eloquence, and the rich and powinteresting, that we can only indicate the erful language, which reached its full maturreasoning upon which this view is founded. ity in the sermons of Massillon and Bossuet.
The next source of French literature con- Thus it will be seen that the French in. sists of the legends, sacred and profane, tellect in the twelfth and thirteenth centuwhich possess a partly religious and partly ries was already full of activity. The first historical character. The legends of the me- impulse in every branch of thought came diæval church do not form a complete cycle from the Church. But as cultivation became like the book of Saint Graal, but rather re- more general, the Church ceased to have the semble the fantastic and brilliant illumina- exclusive control of letters and science. Rotions on the margin of the sacred text. They mances were no longer theological ; and the were, however, essentially a part of the pop- dramatic mysteries, though for a long time ular literature, and, like the romances, sprang they preserved traces of their origin, gradimmediately from the Church. From them, ually changed in character. But in each too, descended in a direct line the dramatic case the transition was slow, and necessarily compositions called Mysteries, from which coincided with the general advance of soci. undoubtedly the theatre of modern Europe ety. It is M. Moland's aim to mark these was derived.
epochs of change, and to show how the civThe earliest remains of French sermons ilization of the middle ages was created, and which can be considered an authentic speci- how it passed into the Renaissance and mod. men of French preaching are found in a ern history. The result of all such investi. manuscript containing a series of short in- gations always proves the inseparable constructions for each Sunday in the year, which nection in thought and feeling between suc
ages ; and that, however far we go | nected in purpose, and serve in turn to illusback, we can never reach the fountain-head. trate the plan of inquiry laid down by the It is now no longer the fashion to assume author. that there was ever a period of utter darkness during the middle ages. It certainly was not so in France. As we learn from M. Guizot, in his History of the Civilization of
From The Philadelphia Inquirer. Europe, in spite of incursions of barbarians HOW THOMAS JEFFERSON FORESHADand endless confusion the thread of Roman
OWED THE FINANCIAL POLICY
FOR 1862. civilization was never broken. Learning was still preserved by the Church; a id some A FEW days ago we submitted some reremains of Roman law still subsisted. The marks upon the financial policy of the Gove seventh century was probably the darkest; ernment, which summed up the present issue but after the age of Charlemagne the prog- about as follows: The question forced upon ress of learning became more conspicuous. the Government is, whether it will make long From that date onwards the so-called mod- loans for large sums, at high rates of interern languages were in process of formation, est, or whether, by exercising its right of till, as we have seen, in the twelfth century sovereignty and taking exclusive possession. they suddenly appeared in all the luxuriance of the paper circulation of the country, it of spontaneous growth. The French of will make short loans for optional sums Paris in the nineteenth century is the legiti- without paying any interest at all. This latmate successor of the Norman Wallon, in ter it can do, by the issue of its own notes, which the Romance of the Round Table and and by causing the withdrawal of the comthe Assize of Jerusalem were written. The peting circulation of the banks, such withhistory of this language and literature must drawal to be effected by taxation, or any be always full of interest, and the study of other convenient legislative device. Such a it cannot fail to be of use:
plan was suggested by the Secretary of the
Treasury in his last Annual Report, and in “ They teach us how the intellectual wealth concluding our observations upon the above and moral grandeur of France were formed. Far from diminishing our admiration for the issue, and the recommendations of that rewriters of the best periods, and the poets port, we remarked that the proposed measof the highest order, they show us how their ure did not rest upon any new theories, but advent had been arranged and timed to pro- upon principles which had the sanction of duce their powerful and correct genius. Jefferson, Gallatin, and Benton. It is to They enable us better to appreciate the im- make the latter assertion good, at least with mortal chefs-d'ouvre which can never be reference to one of these names, that we reforgotten or exbausted. They have, too; cur to the subject this morning. another effect; they enlarge the horizon of our vision. Whilst they give us the habit
In October, 1815, Mr. Jefferson wrote to of looking beyond those great monuments Mr. Gallatin his belief that this country could which for many minds exclude everything be carried through the longest war, against else, they at the same time prevent us from her most powerful enemy, without ever knowjudging with too much partis lity the works ing the want of a dollar, without dependence of our own time. They help us to keep from on the traitorous class of her citizens, withbeing discouraged, and warn us alike not to finish the history of our literature too
out bearing hard on the resources of the peosoon, or to begin it too late.”
ple, or loading the public with an indefinite
burden of debt. This be said could be done In dealing with a work of this kind, we" by the total prohibition of all private pa
, , must be content to give a very general out- per," “ by reasonable taxes in war,” and line of the mode in which the subject is " ' by the necessary emissions of public pahandled, for our space will not permit us to per, of circulating size, bottomed on special dwell upon details. There is much in M. taxes.” Moland's volume that is extremely interest- But these opinions of Jefferson, written ing. The materials are treated in a clear to Mr. Gallatin when the war was over, were and scholar-like manner, and the different no mere after-thoughts of that sagacious essays of which it is made up are all con- I and far-sighted statesman. Repeatedly,