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profound discoBJtent on the part of the thinking and educated middle ranks of society at the religious arid intellectual vassalage to which , all are indiseriminately reduced ; j $ eans of public remonstrance or discussion with their priestly and police tormentors they have none . Toieration » as asserted by if aria Theresa and established by Joseph II . is extinct . The souls of the , people have been bargametl and sold to the Ohureh > as their bodies are Maimed inexorably for military service , and their purses for irresponsible taxation . There are few symptoms of writhing or resistance permitted to appear ; but it is impossible to believe that beneath the there not innumera
surface , could we penetrate it , are - ble festering and cankerous discontents . The state of the Lombardo-Venetian kingdom is too well known . It is a magazine of national hatred which any spark may cause to explode . Hail ways and electric telegraphs would avail nothing after the first few days of general revolt , as they would need whole armies to protect them from being temporarily interrupted . 3 For police purposes they are perfection , so long as the regime of police endures ; for military purposes in a hostile country , they are good for nothing . On the other hand , these great inventions would remain in full force and operation in those countries whence attack is to be apprehended by
Austria . ' } At comparatively , trifling cost , and at a few hours notice , Napoleon III . could launch a whole army on the plains which it took his uncle months of preparation , weeks of perilous toil , and countless treasure to bring witlun sight of his antagonists . The same observation apples to every detail of reinforcement : There is npt a barrack in any department of France where the summons for succour , in case of a reverse ^ would not be communicable , from the banks- of the Adige or the MinciOj between dawn and dusk of a summer ' s day ; and allowing tor the time ieeessayy to trausport supplementary ¦ corps from Toulon or Marseilles to Spezzia or Genoa ,
it is certain that in the space of a very few daysreinforcements uhfatiguedi and in . the best condition ^ could be sent to repair any loss that their compatriots or Piedmontese allies might sustain . Very different would be the condition of an Austrian army if defeated on the banks of the Po . Their ^ rhole line of communication between Mantua or Verona and the . foot of the Alps Avould be beset by the enemy . The passes they would no doubt spare xlo pains to hold ; but the blunder of Charles Albert , who left the entrance to them open on the Italian side , would hardly be repeated by French generals ; ¦ and'if these could be scaled for even a short time ,
the Austrian eagle would be caged within the bastions of an isolated fortress . Long sieges and obstinate defences are just what her soldiers are best fitted for ; but the fate of his dominion south of the Alps would be sealed irrevocably were it once made a question how many months' provisions her imprisoned troops had in store . Looking at all the circumstances of the case , we cannot help feeling that the odds are enormously -against her . That she thinks so herself , is betrayed by the hesitation evident in sending an army of
occupation into Servia . Time was when the . Court of Vienna would not have endured the notion of standing by while her puppet despot was deposed by a . revolutionary decree m a neighbouring state , and -another , known to be in the interest of a jealous xival , seated in his stead . Bodies of troops were , in point of fact , gathered on the frontiers some weeks . ago , preparatory to ' mi armed occupation . But the peremptory veto of France , and probably also of itussia , was interposed , and the perilous step has -been suspended , if not abandoned .
Untitled Article
THE MORALITY OF TRADE . Oj ? late the morality of trade has excited much attention , and it is generally referred to as except tional and low , especially leas worthy than , the morality of politics , law , and religion . That it is different jui some measure from some , of the praoticea ¦ and principles prevalent in these other groat branches or society , and in so far exceptional , must
bo admitted ; but the great cardinal principles ot morality—* honesty , justice , truth , rospeot for the rights of othera—are common to them all . The great distinction between it and them , is that it is avowedly founded on selfishness , while thoy all rest on the opposite principle . Whatever may be , its in ) mediate or ultimate effects , it makes no claim to bo philanthropic , charitable , or patriotio , while they ftU professedly promote the general welfare , rather , than , the welfare of statesmen , lawyers , and
priests ; To trade for the public benefit , or for any other purpose than to enrich the individual trader , is deeriecf as hypocritical , and denounced as mischievous , by all the accredited writers on trade . Theoretically , it is far less beautiful than they , but , like nrany a harsh-featured face , it may be an index to more sterling virtues than a softer and more sailing countenance . It is a striking testimony in favour of trade that all the statesmen of the civilised world think it their duty to promote it . They make many laws ,. if not successful , for this purpose . They even make
war to attain it ; and , with the general approbation , trample under foot all the principles taught by religion incorporated into law and professed by all statesmen , to secure the opening of new channels of trade . Equally striking , too , is the fact that , as trade has extended , the morality of mankind , as well as their material condition , is on the whole improved , arid is most improved where trade is most extensive . It is not , for example , to be questioned that the morality of Europe , and especially of England , and more especially of this great metropolis— -where life and property are now enjoyed in a iii the middle and
security utterly unknown ages , scarcely recognised in the days of the three first Geofges—^ -has improved as trade has become a larger portion of society . Bad as we may think the morality of our cousins in Boston , New Y ork , Cincinnati , and Chicago , where all the people are traders , ifc is ^ miach superior to the morality of Milan , Naples , Vienna , and Rome , where all but a small portion of thu people are priests , lawyers , and politicians . If we justly reproach the Americans with continuing slavery , we ought not to forget that this . is exceptional to them , and was , to a late period , universal in Europe . Moreover , Europe began the African slave trade ,. left it as an heritage to America , and America has abolished it . That trade has gone
hand in hand with civilisation , and that by common consent it is now encouraged as a means of civilisation , assures us that it cannot be immoral . In a general sense , its advantages , moral and physical , are never denied ; and it is only in detail and in individual' cases / when examples of unfair dealing or fraud turn up , that the morality of trade is sneered at as low . Morality , however , is the law of life in society—the rule for the performance of duties by which the welfare of all is promoted—and it is incongruous to suppose that a branch of so * cicty so influential , great , and growing as trade , can be conducted on principles adverse to morality and inimical to social welfare .
It is npt , however , trade in general , or trade in the abstract , which is now especially condemned , but certain aberrations from the true principles on which trade ought to be conducted . Latterly , trade has become of increased importance to society . Its great value is recognised , the large fortunes to which trade has conducted some individuals , the new channels opened for it , have attraoted into trade much of the floating and permanent dishonesty of society , and trade has had to bear all the blame of the knavery which its name has been assumed to cover . Thus every attempt to swindle by a bauk , or a board ot railway directors , or an individual merchant , has been , called trade , and the yillany of the . individuals has been ascribed to the
occupation . As well accuse all mankyid . ot felony because there aro some felons , and all the priesthood of immorality because some members of the ordeV aro drunkards and adulterers . Trade , as the rule , is one of the newest portions of society ; every trading enterprise is something new , speculative , and hazardous , the results are olten affected by changes in the laws of different countries , as well as by unexpected changes in the weather and the seasons ; almost every failure , consequently , is classed with trade and remembered to its dishonour , while overy successful enterprise is unnoticed and perhaps unknown ., Just now the country is recovering from a
collapse of credit ; there was a wide extended exortion to obtain a share of the new wealth which hod been discovered in the lands of the Pacific . Eagerness overshot its mark . There were many failures , and credit , speculation , and trade aro all denounood . Credit is only another name for trust and confidence which man niust place in man . Sooiety cannot exist without credit or confidence . A olorfc cannot bo entrusted with a ohoquo , nor a carrier with goods , without confidence . The shoemaker cannot confine himself to his last unless ho believes that the tailor will ply his hoodlo and the baker knead , his dough while ho makes only shoes . Leilding money or lending securities is only one form ol orodit or oonudouoo , which is a necessary
part of society . Two or more persons arc always concerned in it . To every lending' and borrowing there are two parties , and if the lender , eager for gain , hand over his money or his securities to another . person , of whoni he has no knowledge , aud without proving his integrity , he _ acts unwarrantably . Tn-iist without knowledge is very likely to be deceived , and the man who so trusts , whether he be a poor or a rich man , whether he lends his all or a mere mite of his wealth , is not justified in complaining . Particularly if he be eager-to trust in order ' to share the reputed gains of an enterprising man , be lie a banker or a railway engineer , ho is as
blamable as a confident man who trusts ml Fortune and draws from her lottery a ' great blank . Mr . Black , who , by his late , lecture at Glasgow , has drawn attention to -the '¦ subject , throws all thu blame on the borrower , and h ; is not a word of censure for the eager , unthinking lender , lie puts the case of a man borrowing money to invest it hi sugar , on the chance of a rise in the price , and concludes that by doing so without consulting the lender , he is guilty of a breach of faith and a reckless misuse of the money . To us this seems a misunderstanding aud a misrepresentation '
of "the case . The money is lent on faith in the man , aud implies unreserved confidence in his mode of using it . To suppose that his creditors are to be ¦ informed how he is to deal with the money , and control . it after it is in his hand , is to make them not lenders but partners , and takes the whole question out of the category of credit . Credit is implicit confidence , and all that the creditor is concerned with is to get back his money . How it may be employed , unless he make ' some , stipulation to this effect , "is no concern of his ; and whatever the speculation , if it be successful , he gets back his money . lie is only not paid when the speculation
is a failure . For him and for Mr . Black the speculation is onl y illegitimate when it is a failure ^ To deny the utility of . credit—to deny the nccessity of speculation—is impossible ; and suceeas or failure is the only diilerence in all credit and all speculation . Throughout 1 S 56 and the greater part of 1 S 57 speculation was carried on to an extraordinary degree , and no moralist said a word against it . At the latter , end of 1 . S 57 many speculations were proved to be failures , and immediately a voice of reprobation , echoed and repeated by Mr . Black , rises from all the eager , trusting creditors , expecting to get rich by the exertions of their debtors , and of society .
Let us be understood as denouncing in as strong terms as Mr . Black every deviation from the strict line of honesty , every departure from fair dealing , but we cannot , therefore , go with him in throwing exclusively the disasters of 1 S 57 on the debtor ,-the speculating and the enterprising portion of society . Closely examined , it will be found' that the debtor here was the creditor in America or souk : other country , and that , debtor and creditor arc . so interwoven throughout society , that to blame one is to blame the oilier . Society generally , however , may be described ns consisting of two classes — the Have-gots , and the Wnut-tQ-gets ; between them there has been a contention time out of mind , and
the imputations on the morality ol traile aro a continuation of the quarrel . Neither party can do without the other , yet each is jealous of the other-As long as the Have-gots got more , ami thu Want , to-gets got something , all went smoothly , but when the latter were unable , from what , causes we will not now inquire , but not cxcluaivcly from thoir mismanagement , to give all that they had promised to the former , tho old contention was revived , and the struggling , enterprising portion of society is denounced aa guided by a low morality .
For us tins seems a very one-sided view ol iho question , but it is quito consistent with this conduct of the Havo-gots in every ago , who have always at once struggled to get more , and denounced or thwarted those who , having nothing , have wantod to get . In both classes honosty in to bo oommended and dishonesty dcnouncoil , in both classes a too great eagerness to get is reprohonaiblu ; but it is not more reprehensible , as Mr . Black ' s * teaching would ininlv . in one than in the other . would implyin one than in the other .
, The trader produces actually nothing himself } ho is the intermediary between the manufaoturor and the farmer , or ono producer awd another . . But by removing a commodity from where it in of httlo value to whoro it ia of much value ,-ho produces utility as wall a « thoy . IIo means , as th <» y moan by their exertions , to bemodt himwolf , and ho ollors his commodities freely to others . Competition—opou competition—is the aoul of tvuUo . It knows nothing
Untitled Article
& 0 THE LEADER . [ No . 459 , Janitaiiy 8 , 1858 .
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Citation
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Leader (1850-1860), Jan. 8, 1859, page 50, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct2276/page/18/
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