Sybil by Benjamin Disraeli (book recommendations website TXT) 📕

capable of calculating the effects of public transactions. Sincere! Why, he was struggling for his existence! And when baffled, first by the Venetian party, and afterwards by the panic of Jacobinism, he was forced to forego his direct purpose, he still endeavoured partially to effect it by a circuitous process. He created a plebeian aristocracy and blended it with the patrician oligarchy. He made peers of second-rate squires and fat graziers. He caught them in the alleys of Lombard Street, and clutched them from the countinghouses of Cornhill. When Mr. Pitt in an age of bank restriction declared that every man with an estate of ten thousand a-year had a right to be a peer, he sounded the knell of “the cause for which Hampden had died on the field, and Sydney on the scaffold.”

In ordinary times the pupil of Shelburne would have raised this country to a state of great material prosperity, and removed or avoided many of those anomalies which now perplex us; but he was not destined for ordinary times; and though his capacity was vast and his spirit lofty, he had not that passionate and creative genius required by an age of revolution. The French outbreak was his evil daemon: he had not the means of calculating its effects upon Europe. He had but a meagre knowledge himself of continental politics: he was assisted by a very inefficient diplomacy. His mind was lost in a convulsion of which he neither could comprehend the causes nor calculate the consequences; and forced to act, he acted not only violently, but in exact opposition to the very system he was called into political existence to combat; he appealed to the fears, the prejudices, and the passions of a privileged class, revived the old policy of the oligarchy he had extinguished, and plunged into all the ruinous excesses of French war and Dutch finance.

If it be a salutary principle in the investigation of historical transactions to be careful in discriminating the cause from the pretext, there is scarcely any instance in which the application of this principle is more fertile in results, than in that of the Dutch invasion of 1688. The real cause of this invasion was financial. The Prince of Orange had found that the resources of Holland, however considerable, were inadequate to sustain him in his internecine rivalry with the great sovereign of France. In an authentic conversation which has descended to us, held by William at the Hague with one of the prime abettors of the invasion, the prince did not disguise his motives; he said, “nothing but such a constitution as you have in England can have the credit that is necessary to raise such sums as a great war requires.” The prince came, and used our constitution for his purpose: he introduced into England the system of Dutch finance. The principle of that system was to mortgage industry in order to protect property: abstractedly, nothing can be conceived more unjust; its practice in England has been equally injurious. In Holland, with a small population engaged in the same pursuits, in fact a nation of bankers, the system was adapted to the circumstances which had created it. All shared in the present spoil, and therefore could endure the future burden. And so to this day Holland is sustained, almost solely sustained, by the vast capital thus created which still lingers amongst its dykes. But applied to a country in which the circumstances were entirely different; to a considerable and rapidly-increasing population; where there was a numerous peasantry, a trading middle class struggling into existence; the system of Dutch finance, pursued more or less for nearly a century and a half, has ended in the degradation of a fettered and burdened multitude. Nor have the demoralizing consequences of the funding system on the more favoured classes been less decided. It has made debt a national habit; it has made credit the ruling power, not the exceptional auxiliary, of all transactions; it has introduced a loose, inexact, haphazard, and dishonest spirit in the conduct of both public and private life; a spirit dazzling and yet dastardly: reckless of consequences and yet shrinking from responsibility. And in the end, it has so overstimulated the energies of the population to maintain the material engagements of the state, and of society at large, that the moral condition of the people has been entirely lost sight of.

A mortgaged aristocracy, a gambling foreign commerce, a home trade founded on a morbid competition, and a degraded people; these are great evils, but ought perhaps cheerfully to be encountered for the greater blessings of civil and religious liberty. Yet the first would seem in some degree to depend upon our Saxon mode of trial by our peers, upon the stipulations of the great Norman charters, upon the practice and the statute of Habeas Corpus⁠—a principle native to our common law, but established by the Stuarts; nor in a careful perusal of the Bill of Rights, or in an impartial scrutiny of the subsequent legislation of those times, though some diminution of our political franchises must be confessed, is it easy to discover any increase of our civil privileges. To those indeed who believe that the English nation⁠—at all times a religious and Catholic people, but who even in the days of the Plantagenets were anti-papal⁠—were in any danger of again falling under the yoke of the Pope of Rome in the reign of James the Second, religious liberty was perhaps acceptable, though it took the shape of a discipline which at once anathematized a great portion of the nation, and virtually establishing Puritanism in Ireland, laid the foundation of those mischiefs which are now endangering the empire.

That the last of the Stuarts had any other object in his impolitic manoeuvres, than an impracticable scheme to blend the two churches, there is now authority to disbelieve. He certainly was guilty of the offence of sending an envoy openly to Rome, who, by the