ON NATIONAL DEBTS (WHICH ARE IMAGINARIES AND TRUE NOTHINGS OF STATE)

One day Peter and Paul--I knew them both, the dear fellows: Peter perhaps a trifle wild, Paul a little priggish, but that is no matter --one day, I say, Peter and Paul (who lived together in rooms off Southampton Row, Bloomsbury, a very delightful spot) were talking over their mutual affairs.

"My dear Paul," said Peter, "I wish I could persuade you to this expenditure. It will be to our mutual advantage. Come now, you have ten thousand a year of your own and I with great difficulty earn a hundred; it is surprising that you should make the fuss you do.

Besides which you well know that this feeding off packing-cases is irksome; we really need a table and it will but cost ten pounds."

To all this Paul listened doubtfully, pursing up his lips, joining the tips of his fingers, crossing his legs and playing the solemn fool generally.

"Peter," said he, "I mislike this scheme of yours. It is a heavy outlay for a single moment. It would disturb our credit, and yours especially, for your share would come to five pounds and you would have to put off paying the Press-Cutting agency to which you foolishly subscribe. No; there is an infinitely better way than this crude idea of paying cash down in common. I will lend the whole sum of ten pounds to our common stock and we will each pay one pound a year as interest to myself for the loan. I for my part will not shirk my duty in the matter of this interest and I sincerely trust you will not shirk yours."

Peter was so delighted with this arrangement that his grat.i.tude knew no bounds. He would frequently compliment himself in private on the advantage of living with Paul, and when he went out to see his friends it was with the jovial air of the Man with the Bottomless Purse, for he did not feel the pound a year he had to pay, and Paul always seemed willing to undertake similar expenses on similar terms. He purchased a bronze over-mantel, he fitted the rooms with electric light, he bought (for the common use) a large prize dog for 56, and he was for ever bringing in made dishes, bottles of wine and what not, all paid for by this lending of his. The interest increased to 20 and then to 30 a year, but Paul was so rigorously honest, prompt and exact in paying himself the interest that Peter could not bear to be behindhand or to seem less punctual and upright than his friend. But so high a proportion of his small income going in interest left poor Peter but a meagre margin for himself and he had to dine at Lockhart's and get his clothes ready made, which (to a refined and sensitive soul such as his) was a grievous trial.

Some little time after a Fishmonger who had attained to Cabinet rank was married to the daughter of a Levantine and London was in consequence illuminated. Paul said to Peter in his jovial way, "It is imperative that we should show no meanness upon this occasion. We are known for the most flourishing and well-to-do pair of bachelors in the neighbourhood, and I have not hesitated (for I know I had your consent beforehand) to go to Messrs. Brock and order an immense quant.i.ty of fireworks for the balcony on this auspicious occasion.

Not a word. The loan is mine and very freely do I make it to our Mutual Position."

So that night there was an illumination at their flat, and the centre-piece was a vast combination of roses, thistles, shamrocks, leeks, kangaroos, beavers, schamboks, and other national emblems, and beneath it the motto, "United we stand, divided we fall: Peter and Paul," in flaming letters two feet high.

Peter was after this permanently reduced to living upon rice and to mending his own clothes; but he could easily see how fair the arrangement was, and he was not the man to grumble at a free contract. Moreover, he was expecting a rise in salary from the editor of the _Hoot_, in which paper he wrote "Woman's World", and signed it "Emily".

At the close of the year Peter had some difficulty in meeting the interest, though Paul had, with true business probity, paid his on the very day it fell due. Peter therefore approached Paul with some little diffidence and hesitation, saying:

"Paul: I trust you will excuse me, but I beg you will be so very good as to see your way, if possible, to granting me an extension of time in the matter of paying my interest."

Paul, who was above everything regular and methodical, replied:

"Hum, chrm, chrum, chrm. Well, my dear Peter, it would not be generous to press you, but I trust you will remember that this money has not been spent upon my private enjoyment. It has gone for the glory of our Mutual Position; pray do not forget that, Peter; and remember also that if you have to pay interest, so have I, so have I. We are all in the same boat, Peter, sink or swim; sink or swim...." Then his face brightened, he patted Peter genially on the shoulder and added: "Do not think me harsh, Peter. It is necessary that I should keep to a strict, business-like way of doing things, for I have a large property to manage; but you may be sure that my friendship for you is of more value to me than a few paltry sovereigns. I will lend you the sum you owe to the interest on the Common Debt, and though in strict right you alone should pay the interest on this new loan I will call half of it my own and you shall pay but 1 a year on it for ever."

Peter's eyes swam with tears at Paul's generosity, and he thanked his stars that his lot had been cast with such a man. But when Paul came again with a grave face and said to him, "Peter, my boy, we must insure at once against burglars: the underwriters demand a hundred pounds," his heart broke, and he could not endure the thought of further payments. Paul, however, with the quiet good sense that characterised him, pointed out the necessity of the payment and, eyeing Peter with compa.s.sion for a moment, told him that he had long been feeling that he (Peter) had been unfairly taxed. "It is a principle" (said Paul) "that taxation should fall upon men in proportion to their ability to pay it. I am determined that, whatever happens, you shall in future pay but a third of the interest that may accrue upon further loans." It was in vain that Peter pointed out that, in his case, even a thirtieth would mean starvation; Paul was firm and carried his point.

The wretched Peter was now but skin and bone, and his earning power, small as it had ever been, was considerably lessened. Paul began to fear very seriously for his invested funds: he therefore kept up Peter's spirits as best he could with such advice as the following:--

"Dear Peter, do not repine; your lot is indeed hard, but it has its silver lining. You are the member of a partnership famous among all other bachelor-residences for its display of fireworks and its fine furniture. So valuable is the room in which you live that the insurance alone is the wonder and envy of our neighbours. Consider also how firm and stable these loans make our comradeship. They give me a stake in the rooms and furnish a ready market for the spare capital of our little community. The interest WE pay upon the fund is an evidence of our social rank, and all London stares with astonishment at the flat of Peter and Paul, which can without an effort buy such gorgeous furniture at a moment's notice."

But, alas! these well-meant words were of no avail. On a beautiful spring day, when all the world seemed to be holding him to the joys of living, Peter pa.s.sed quietly away in his little truckle bed, unattended even by a doctor, whose fees would have necessitated a loan the interest of which he could never have paid.

Paul, on the death of Peter, gave way at first to bitter recrimination. "Is this the way," he said, "that you repay years of unstinted generosity? Nay, is this the way you meet your sacred obligations? You promised upon a thousand occasions to pay your share of the interest for ever, and now like a defaulter you abandon your post and destroy half the revenue of our firm by one intempestive and thoughtless act! Had you but possessed a little property which, properly secured, would continue to meet the claims you had incurred, I had not blamed you. But a man who earns all that he possesses has no right to pledge himself to perpetual payment unless he is prepared to live for ever!"

n.o.bler thoughts, however, succeeded this outburst, and Paul threw himself upon the bed of his Departed Friend and moaned. "Who now will pay me an income in return for my investments? All my fortune is sunk in this flat, though I myself pay the interest never so regularly, it will not increase my fortune by one farthing! I shall as I live consume a fund which will never be replenished, and within a short time I shall be compelled to work for my living!"

Maddened by this last reflection, he dashed into the street, hurried northward through-the-now-rapidly-gathering-darkness, and drowned himself in the Regent's Ca.n.a.l, just where it runs by the Zoological Gardens, under the bridge that leads to the cages of the larger pachyderms.

Thus miserably perished Peter and Paul, the one in the thirtieth, the other in the forty-seventh year of his age, both victims to their ignorance of _Mrs. Fawcett's Political Economy for the Young_, the _Nicomachean Ethics_, Bastiat's _Economic Harmonies, The Fourth Council of Lateran on Unfruitful Loans and Usury, The Speeches of Sir Michael Hicks-Beach and Mr. Brodrick (now Lord Midleton), The Sermons of St. Thomas Aquinas_, under the head "Usuria,"

Mr. W. S. Lilly's First _Principles in Politics_, and other works too numerous to mention.

ON LORDS

"_Saepe miratus sum_," I have often wondered why men were blamed for seeking to know men of t.i.tle. That a man should be blamed for the acceptance of, or uniformity with, ideals not his own is right enough; but a man who simply reveres a Lord does nothing so grave: and why he should not revere such a being pa.s.ses my comprehension.

The inst.i.tution of Lords has for its object the creation of a high and reverend cla.s.s; well, a man looks up to them with awe or expresses his reverence and forthwith finds himself accused! Get rid of Lords by all means, if you think there should be none, but do not come pestering me with a rule that no Lord shall be considered while you are making them by the bushel for the special purpose of being considered--_ad considerandum_ as Quintillian has it in his highly Quintillianarian essay on I forget what.

I have heard it said that what is blamed in sn.o.bs, _sn.o.binibus quid reatumst_, is not the matter but the manner of their worship. Those who will have it so maintain that we should pay to rank a certain discreet respect which must not be marred by crude expression. They compare sn.o.bbishness to immodesty, and profess that the pleasure of acquaintance with the great should be so enjoyed that the great themselves are but half-conscious of the homage offered them: this is rather a subtle and finicky critique of what is in honest minds a natural restraint.

I knew a man once--Chatterley was his name, Shropshire his county, and racing his occupation--who said that a sn.o.b was blamed for the offence he gave to Lords themselves. Thus we do well (said this man Chatterley) to admire beautiful women, but who would rush into a room and exclaim loudly at the ladies it contained? So (said this man Chatterley) is it with Lords, whom we should never forget, but whom we should not disturb by violent affection or by too persistent a pursuit.

Then there was a nasty drunken chap down Wapping way who had seen better days; he had views on dozens of things and they were often worth listening to, and one of his fads was to be for ever preaching that the whole social position of an aristocracy resided in a veil of illusion, and that hands laid too violently on this veil would tear it. It was only by a sort of hypnotism, he said, that we regarded Lords as separate from ourselves. It was a dream, and a rough movement would wake one out of it. Sn.o.bbishness (he said) did violence to this sacred film of faith and might shatter it, and hence (he pointed out) was especially hated by Lords themselves. It was interesting to hear as a theory and delivered in those surroundings, but it is exploded at once by the first experience of High Life and its solid realities.

There is yet another view that to seek after acquaintance with men of position in some way hurts one's own soul, and that to strain towards our superiors, to mingle our society with their own, is unworthy, because it is destructive of something peculiar to ourselves. But surely there is implanted in man an instinct which leads him to all his n.o.blest efforts and which is, indeed, the motive force of religion, the instinct by which he will ever seek to attain what he sees to be superior to him and more worthy than the things of his common experience. It seems to be proper, therefore, that no man should struggle against the very natural attraction which radiates from superior rank, and I will boldly affirm that he does his country a good service who submits to this force.

The just appet.i.te for rank gives rise to two kinds of duty, one or the other of which each of us in his sphere is bound to regard.

There is first for much the greater part of men the duty of showing respect and deference to men of t.i.tle, by which I do not mean only Lords absolute (which are Barons, Viscounts, Earls, Marquises and Dukes), but also Lords in gross, that is the whole body of lords, including lords by courtesy, ladies, their wives and mothers, honourables and cousins--especially heirs of Lords, and to some extent Baronets as well. Secondly, there is the duty of those few within whose power it lies to become Lords, Lords to become, lest the aristocratic element in our Const.i.tution should decline. The most obvious way of doing one's duty in this regard if one is wealthy is to purchase a peerage, or a Baronetcy at the least, and when I consider how very numerous are the fortunes to which a sum of twenty or thirty thousand pounds is not really a sacrifice, and how few of their possessors exercise a tenacious effort to acquire rank by the disburs.e.m.e.nt of money, I cannot but fear for the future of the country! It is no small sign of our times that we should read so continually of large bequests to public charities made by men who have had every opportunity for entering the Upper House but who preferred to remain unnoted in the North of England and to leave their posterity no more dignified than they were themselves.

There is a yet more restricted cla.s.s to whom it is open to become Lords by sheer merit. The one by gallant conduct in the field, another by a pretty talent for verse, a third by scientific research. And if any of my readers happen to be a man of this kind and yet hesitate to undertake the effort required of him, I would point out that our Const.i.tution in its wisdom adds certain very material advantages to a peerage of this kind. It is no excuse for a man of military or scientific eminence to say that his income would not enable him to maintain such a dignity. Parliament is always ready to vote a sufficient grant of money, and even were it not so, it is quite possible to be a Lord and yet to be but poorly provided with the perishable goods of this world, as is very clearly seen in the case of no fewer than eighty-two Barons, fourteen Earls, and three dukes, a list of whom I had prepared for printing in these directions but have most unfortunately mislaid.

Again, even if one's private means be small, and if Parliament by some neglect omit to endow one's new splendour, the common sense of England will come to the help of any man so situated if he is worth his salt. He will with the greatest ease obtain positions of responsibility and emolument, notably upon the directorate of public companies, and can often, if he finds his salary insufficient, persuade his fellow-directors to increase it, whether by threatening them with exposure or by some other less drastic and more convivial means.

If after reading these lines there is anyone who still doubts the att.i.tude that an honest man should take upon this matter, it is enough to point out in conclusion how Providence itself appears to have designed the whole hierarchy of Lords with a view to tempting man higher and ever higher. Thus, if some reader of this happens to be a baron, he might think perhaps that it is not worth a further effort to receive another grade of distinction. He would be wrong, for such an advance gives a courtesy t.i.tle to his daughters; one more step and the same benefit accrues to his sons. After that there is indeed a hiatus, nor have I ever been able to see what advantage is held out to the viscount who desires to become a marquis--unless, indeed, it be marquises that become viscounts. Anyhow, it is the latter t.i.tle which is the less English and the less manly and which I am glad to hear it is proposed to abolish by a short, one-clause bill in the next Session of Parliament. Above these, the dukes in the t.i.tles of their wives and the mode in which they are addressed stand alone. There is, therefore, no stage in a man's upward progress upon this ancient and glorious ladder where he will not find some great reward for the toil of ascending. In view of these things, I for my part hope, in common with many another, that the foolish pledge given some years ago when the Liberal Party was in opposition, that it would create no more Lords, will be revised now that it has to consider the responsibilities of office; a revision for which there is ample precedent in the case of other pledges which were as rashly made but of which a reconsideration has been found necessary in practice.

NOTE.--_I find I am wrong upon Viscounts, but as I did not discover this until my book was in the press I cannot correct it.

The remainder of the matter is accurate enough, and may be relied on by the student._

ON JINGOES: IN THE SHAPE OF A WARNING

BEING

The sad and lamentable history of Jack Bull, son of the late John Bull, India Merchant, wherein it will be seen how this prosperous merchant left an heir that ran riot with 'Squires, trainbands, Black men, and Soldiers, and squandered all his substance, so that at last he came to selling penny tokens in front of the Royal Exchange in Threadneedle Street, and is now very miserably writing for the papers.

John Bull, whom I knew very well, drove a great trade in tea, cotton goods, and bombazine, as also in hardware, all manner of cutlery, good and bad, and especially sea-coal, and was very highly respected in the City of London, of which he was twice Sheriff and once Lord Mayor. When he went abroad some begged of him, and to these he would give a million or so at a time openly in the street, so that a crowd would gather and cry, "Lord! what a generous fellow is this Mr.

Bull!" Some, again, of better station would pluck his sleeve and take him aside into Broad Street Corner or Mansion House Court, and say, "Mr. Bull, a word in your ear. I have more paper about than I care for in these hard times, and I could pay you handsomely for a short loan." These always found Mr. Bull willing and ready, sure and silent, and, withal, cheaper at a discount than any other. For buying cloth all came to Bull; and for buying other wares his house was preferred to those of Frog and Hans and the rest, because he was courteous and ready, always to be found in his office (which was near the Wool-pack in Leaden Hall Street, next to Mr. Marlow's, the Methodist preacher), and moreover he was very attentive to little things. This last habit he would call the soul of business. In such fashion Mr. Bull had acc.u.mulated a sum of five hundred thousand million pounds, or thereabouts, and when he died the neighbours said this and that spiteful thing about his son Jack whom he had trained up to the business, making out that _they knew more than they cared to say_, that _Jack was not John_, that _they had heard of Pride going before a fall_, and so much t.i.ttle-tattle as jealousy will breed.

But they were very much disappointed in their malice, for this same Jack went st.u.r.dily to work and trod in his father's steps, so that his wealth increased even beyond what he had inherited, and he had at last more risks upon the sea in one way and another than any other merchant in the City. And if you would know how Jack (who was, to tell the truth, more flighty and ill-informed than his father) came to go so wisely, it was thus: Old John had left him a few directions writ up in pencil on the mantelpiece, which ran in this way:---

1. Never go into an adventure unless the feeling of your neighbours be with you.

2. Spend no more than you earn--nay, put by every year.

3. Put out no money for show in your business but only for use, save only on the occasion of the Lord Mayor's Show, your taking of an office, or on the occasion of public holidays, as, when the King's wife or daughter lies in.

4. Live and let live, for be sure your business can only thrive on the condition that others do also.