FIRST AND SECOND THOUGHTS IN LOM]IARD STREET ABOUT LOUIS NAPOLEON.
Loris NAPOLEON is generally well liked in the City, a favourite in the Money-market especially, and in Lombard Street—that is, with the great capitalists—an absolute pet. The second nature of money-lords consists of two habits—the desire to increase their store, and the fear of losing it. With the elder and richer of the richest class, who have accomplished the object of their existence, and who have the most influence on City opinion, the fear of losing is a stronger sentiment than the love of getting ; their timidity exceeds their acquisitiveness. They are incessantly afraid of
something ; or when there is nothing to be afraid of, they tremble at the uncommon safety, because it is a natural precursor of dan- ger. Above all, they dread unto hatred every aspect of poverty and power in combination. Their particular horror accordingly, in these-days, is Communist Socialism aspiring to the authority of government. They like all kinds of putting down ; but the. put- ting down of Red Republicanism by Louis Napoleon is their ad- miration and delight. If he had established despotic government by persuasion or skill, their affection for him would have been less, because they respect all force, not excepting violence in the right direction Just as we may suppose that intelligent hares would re-
verence lions. To their minds, some analogy exists between a strong government and a strong box. Strength almost implies success, and failure weakness ; but, further, in Lombard Street success is worshiped for its relationship to acquired wealth, whilst failure is the term for losing all one's money : so the coup d'etat of Louis Napoleon, having been eminently successful, is a very agree- able subject of contemplation. In its triple character of success- ful violence towards political thieves, it comprises what Lombard Street holds dearest. The bust of Louis Napoleon is to be set up in all the mairies of France : it would scarcely be out of place in the money-shops of Lombard Street
For our millionaires, in their natural terror at violence from below against property, are blind to the criminality of the counter violence from above. They have not eyes to see that the French Usurper has put down many things besides the community of goods, and by means which no end could justify. When you tell them that duplicity, perjury, and terror-striking cruelty have upset a constitution, destroyed public and individual liberty, and esta- blished the tyranny of a fierce soldiery, they smile incredulous, and mention the prices of Rentes and Consols. The lawless incar- ceration and banishment of the most eminent Frenchmen, the massacre of the Boulevards, the fusillades of the Champ de Mars, and the transportations to Algeria and Cayenne, are acts of praise- worthy vigour, which Louis Napoleon is only to be pitied for having had forced on him by circumstances. The constitution which he destroyed was only fit for destruction ; the dissimulation by which he concealed his purpose was necessary ; the strong measures by which he accomplished his laudable aim were sagaciously chosen and bravely pursued. Having the work to do, he was right in doing it so effectually. What would have happened in 1852 if he had been a scrupulous observer of oaths, if he had not known how to keep his own secret, if he had flinched when it came to the point, as Louis Philippe did, and if he had not got the army to do his work by giving them all the work to do ? Look at the result. France and Europe were in awful danger : France and Europe are safe. His mastery of the crisis may be deemed providential.
Such is, or rather was, the language of Lombard Street; for second thoughts have suggested considerations not quite so plea- sant, which already countervail to some extent those very com- fortable first impressions. Lombard Street hardly knows what to make of the last French constitution. Like other people in general, our men of money do not profess to understand the new form of government : but they do perceive that there are to be elections by universal suffrage, and the mere sound of the words is unpleasing to them. Can Louis Napoleon have made a mistake in this re- spect? What does he mean by the amalgamated principles of the vote for all and a single authority ? Is it not possible that the masses expect him to establish some organization of labour or spe- cies of Socialism P If they indulge such hopes, which are sure to be disappointed, may not the universal vote lead to fresh convul- sions? Ah ! no ; because the army -will be faithful and conserva- tive. But is that absolutely certain ? Yes, provided the Presi- dent-Emperor should have ample funds at his disposal. But the finances of France are not in a satisfactory state, and rumours tell that Louis Napoleon and his entourage are appropriating and squandering at a desperate rate. Spendthrifts never come to good. This probability of want of money is an ugly feature of the case. And then, to be sure if money should run short, what on earth will Louis Napoleon do with his army? What did his uncle do ? He seems to have a monomaniac disposition to imitate the first Napoleon. Conquest, and the war paying for the war ? Belgium! England is bound by solemn treaty to uphold the Belgic kingdom. And Belgium is not full of money. England is, especially Lon- don. Steam ! Who knows what steam cannot do ? Certainly Louis Napoleon is rather unscrupulous and very audacious. Louis Napoleon himself in Lombard Street would be quite out of place. Perhaps—we say only perhaps—we are in doubt and puzzled-- it would have been as well for us if matters in France had taken a course to keep French troubles at home, and less likely to end in foreign war. However, the Rentes keep up, and so do Consols : Lord John and the Queen seem to have no uneasiness : let us hope for the best.
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