"I _do_ love _Paris_, mademoiselle; and, what is more, I love _Londres_, or even _la Nouvelle Yorck_. As a cosmopolite, I claim this privilege, at least, though I can see defects in all. If you will recollect, Miss Effingham, that New York is a social bivouac, a place in which families encamp instead of troops, you will see the impossibility of its possessing a graceful, well-ordered, and cultivated society. Then the town is commercial; and no place of mere commerce can well have a reputation for its society. Such an anomaly, I believe, never existed. Whatever may be the usefulness of trade, I fancy few will contend that it is very graceful." "Florence of old?" said Eve. "Florence and her commerce were peculiar, and the relations of things change with circumstances. When Florence was great, trade was a monopoly, in a few hands, and so conducted as to remove the principals from immediate contact with its affairs. The Medici traded in spices and silks, as men traded in politics, through agents. They probably never saw their ships, or had any farther connexion with their commerce, than to direct its spirit. They were more like the legislator who enacts laws to regulate trade, than the dealer who fingers a sample, smells at a wine, or nibbles a grain. The Medici were merchants, a class of men altogether different from the mere factors, who buy of one to sell to another, at a stated advance in price, and all of whose enterprise consists in extending the list of safe customers, and of doing what is called a 'regular business.' Monopolies do harm on the whole, but they certainly elevate the favoured few. The Medici and the Strozzi were both princes and merchants, while those around them were principally dependants. Competition, in our day, has let in thousands to share in the benefits; and the pursuit, while it is enlarged as a whole, has suffered in its parts by division." "You surely do not complain that a thousand are comfortable and respectable to-day, for one that was _il magnifico_ three hundred years since?" "Certainly not. I rejoice in the change; but we must not confound names with things. If we have a thousand mere factors for one merchant, society, in the general signification of the word, is clearly a gainer; but if we had one Medici for a thousand factors, society, in its particular signfication, might also be a gainer. All I mean is, that, in lowering the pursuit, we have necessarily lowered its qualifications; in other words, every man in trade in New York, is no more a Lorenzo, than every printer's devil is a Franklin." "Mr. Blunt cannot be an American!" cried Mr. Sharp; "for these opinions would be heresy." "_Jamais, jamais_" joined the governess.