The Arena. Volume 4, No. 21, August, 1891. Various

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their power for evil. With the railways nationalized, not only would there be no temptation for such nefarious operations, but the power of such men over values would be greatly lessened, if not wholly destroyed, as there would be no railway shares for them to play fast and loose with, and as money, instead of being tied up in loans on chromos representing little but water, would seek investment in bona fide enterprises, their operations would have little influence, and would certainly have no such baleful power over the industries of the country, as their ability to affect the value of railway shares—on which such immense sums are now loaned on call—gives them, they being able by locking up a few millions when the money market is in the condition, which obtained at the time of the Baring collapse, to force the calling of loans and the slaughtering of vast numbers of the shares, carrying the control of the railways they covet. If only for the purpose of divesting “The dangerous wealthy classes” of this frightful power, national ownership would be worth many times its cost, and without such ownership a score of manipulators are soon likely to be complete masters of the republic and all its industrial interests; hence, the question reverts to the form stated in the opening of this paper: Shall the nation accept as a master a political party that may be dislodged by the use of the ballot, or shall the republic be dominated by a master in the form of a score of unscrupulous Goulds, Vanderbilts, and Huntingtons, who cannot be dislodged, and who never die?

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      1

      “L’Allemagne lepnis, Leibniz. Essai sur le Développement de la Conscience Nationale en Allemagne.” By Prof. Lévy Brühl, Paris. 1 vol. Hachette, 1890.

      2

      “History of the Creation of United Germany.” 5 vols. Heinrich v. Sybel, Berlin, 1890.

      3

      Few events since the deceptions and catastrophes of the war itself ever produced the sudden impression of Lévy Brühl’s boldly outspoken, utterly impartial book. Published in the first days of last September (1890), in one week it was famous throughout all France where serious literature does not reap renown quickly. M. M. Lairesse De Vogüé, Bourdeau, Sorel, all welcomed it as a revelation,

1

“L’Allemagne lepnis, Leibniz. Essai sur le Développement de la Conscience Nationale en Allemagne.” By Prof. Lévy Brühl, Paris. 1 vol. Hachette, 1890.

2

“History of the Creation of United Germany.” 5 vols. Heinrich v. Sybel, Berlin, 1890.

3

Few events since the deceptions and catastrophes of the war itself ever produced the sudden impression of Lévy Brühl’s boldly outspoken, utterly impartial book. Published in the first days of last September (1890), in one week it was famous throughout all France where serious literature does not reap renown quickly. M. M. Lairesse De Vogüé, Bourdeau, Sorel, all welcomed it as a revelation, in the Débats, Revues des Deux Mondes, and elsewhere, and its real title was awarded it in the Temps, by M. Albert Sorel, whose experience and competence as an historical critic has never been denied, and who unhesitatingly proclaimed it, Le Fuit et l’Idée, namely, the announcement of the ruling national idea whence the fact of German unity was immediately derived.

4

“Le Temps,” 9th September, 1890.

5

Life of Monckton Milnes, first Lord Houghton, by Wemyss Reid. 2 vols. London, 1891.

6

The heroic founder of the Bavarian monarchy, Otho of Writtelsbach, was betrayed shamefully by his friend, the Emperor Philip, of Suabia, and slew him for his treachery. This is one of the oldest dramas on the German stage.

7

The celebrated victory of the Great Elector, that made Prussia into a kingdom.

8

I would recommend every student of history to read attentively the extraordinary article of M. Paleologue in the Revue des Deux Mondes entitled “La Reine Louise de Prusse Comment se Fait une Legende.” It is a poetic but true suite to Professor Lévy Brühl’s magnificent study.

9

The first part of this admirable essay appeared in July Arena.

10

Mr. John P. Meany, editor of Poor’s Manual of Railroads, in the New York Sun of January 12, 1891.

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