The Eighteenth Brumaire of Louis Bonaparte [44]
how to throw it overboard; neither how to co-operate with the President nor how to break with him. From what quarter did it then, look to for the solution of all the existing perplexities? From the calendar, from the course of events. It ceased to assume the control of events. It, accordingly, invited events to don its authority and also the power to which in its struggle with the people, it had yielded one attribute after another until it finally stood powerless before the same. To the end that the Executive be able all the more freely to formulate his plan of campaign against it, strengthen his means of attack, choose his tools, fortify his positions, the party of Order decided, in the very midst of this critical moment, to step off the stage, and adjourn for three months, from August 10 to November 4.
Not only was the parliamentary party dissolved into its two great factions, not only was each of these dissolved within itself, but the party of Order, inside of the parliament, was at odds with the party of Order, outside of the parliament. The learned speakers and writers of the bourgeoisie, their tribunes and their press, in short, the ideologists of the bourgeoisie and the bourgeoisie itself, the representatives and the represented, stood estranged from, and no longer understood one another.
The Legitimists in the provinces, with their cramped horizon and their boundless enthusiasm, charged their parliamentary leaders Berryer and Falloux with desertion to the Bonapartist camp, and with apostacy from Henry V. Their lilymind [#1 An allusion to the lilies of the Bourbon coat-of-arms] believed in the fall of man, but not in diplomacy.
More fatal and completer, though different, was the breach between the commercial bourgeoisie and its politicians. It twitted them, not as the Legitimists did theirs, with having apostatized from their principle, but, on the contrary, with adhering to principles that had become useless.
I have already indicated that, since the entry of Fould in the Ministry, that portion of the commercial bourgeoisie that had enjoyed the lion's share in Louis Philippe's reign, to-wit, the aristocracy of finance, had become Bonapartist. Fould not only represented Bonaparte's interests at the Bourse, he represented also the interests of the Bourse with Bonaparte. A passage from the London "Economist," the European organ of the aristocracy of finance, described most strikingly the attitude of this class. In its issue of February 1, 1851, its Paris correspondent writes: "Now we have it stated from numerous quarters that France wishes above all things for repose. The President declares it in his message to the Legislative Assembly; it is echoed from the tribune; it is asserted in the journals; it is announced from the pulpit; it is demonstrated by the sensitiveness of the public funds at the least prospect of disturbance, and their firmness the instant it is made manifest that the Executive is far superior in wisdom and power to the factious ex-officials of all former governments."
In its issue of November 29, 1851, the "Economist" declares editorially: "The President is now recognized as the guardian of order on every Stock Exchange of Europe." Accordingly, the Aristocracy of Finance condemned the parliamentary strife of the party of Order with the Executive as a "disturbance of order," and hailed every victory of the President over its reputed representatives as a "victory of order." Under "aristocracy of finance" must not, however, be understood merely the large bond negotiators and speculators in government securities, of whom it may be readily understood that their interests and the interests of the Government coincide. The whole modern money trade, the whole banking industry, is most intimately interwoven with the public credit. Part of their business capital requires to be invested in interest-bearing government securities that are promptly convertible into money; their deposits, i. e., the capital placed at their disposal and by them distributed among merchants and industrial
Not only was the parliamentary party dissolved into its two great factions, not only was each of these dissolved within itself, but the party of Order, inside of the parliament, was at odds with the party of Order, outside of the parliament. The learned speakers and writers of the bourgeoisie, their tribunes and their press, in short, the ideologists of the bourgeoisie and the bourgeoisie itself, the representatives and the represented, stood estranged from, and no longer understood one another.
The Legitimists in the provinces, with their cramped horizon and their boundless enthusiasm, charged their parliamentary leaders Berryer and Falloux with desertion to the Bonapartist camp, and with apostacy from Henry V. Their lilymind [#1 An allusion to the lilies of the Bourbon coat-of-arms] believed in the fall of man, but not in diplomacy.
More fatal and completer, though different, was the breach between the commercial bourgeoisie and its politicians. It twitted them, not as the Legitimists did theirs, with having apostatized from their principle, but, on the contrary, with adhering to principles that had become useless.
I have already indicated that, since the entry of Fould in the Ministry, that portion of the commercial bourgeoisie that had enjoyed the lion's share in Louis Philippe's reign, to-wit, the aristocracy of finance, had become Bonapartist. Fould not only represented Bonaparte's interests at the Bourse, he represented also the interests of the Bourse with Bonaparte. A passage from the London "Economist," the European organ of the aristocracy of finance, described most strikingly the attitude of this class. In its issue of February 1, 1851, its Paris correspondent writes: "Now we have it stated from numerous quarters that France wishes above all things for repose. The President declares it in his message to the Legislative Assembly; it is echoed from the tribune; it is asserted in the journals; it is announced from the pulpit; it is demonstrated by the sensitiveness of the public funds at the least prospect of disturbance, and their firmness the instant it is made manifest that the Executive is far superior in wisdom and power to the factious ex-officials of all former governments."
In its issue of November 29, 1851, the "Economist" declares editorially: "The President is now recognized as the guardian of order on every Stock Exchange of Europe." Accordingly, the Aristocracy of Finance condemned the parliamentary strife of the party of Order with the Executive as a "disturbance of order," and hailed every victory of the President over its reputed representatives as a "victory of order." Under "aristocracy of finance" must not, however, be understood merely the large bond negotiators and speculators in government securities, of whom it may be readily understood that their interests and the interests of the Government coincide. The whole modern money trade, the whole banking industry, is most intimately interwoven with the public credit. Part of their business capital requires to be invested in interest-bearing government securities that are promptly convertible into money; their deposits, i. e., the capital placed at their disposal and by them distributed among merchants and industrial