France -- Social life and customs -- 19th century -- Fiction; French fiction -- Translations into English
Though men who are as rich as the Baron de Nucingen have more
opportunities than others for losing money, they also have more chances
of making it, even when they indulge their follies. Though the financial
policy of the house of Nucingen has been explained elsewhere, it may be
as well to point out that such immense fortunes are not made, are not
built up, are not increased, and are not retained in the midst of the
commercial, political, and industrial revolutions of the present day but
at the cost of immense losses, or, if you choose to view it so, of heavy
taxes on private fortunes. Very little newly-created wealth is thrown
into the common treasury of the world. Every fresh accumulation
represents some new inequality in the general distribution of wealth.
What the State exacts it makes some return for; but what a house like
that of Nucingen takes, it keeps.
Such covert robbery escapes the law for the reason which would have made
a Jacques Collin of Frederick the Great, if, instead of dealing with
provinces by means of battles, he had dealt in smuggled goods or
transferable securities. The high politics of money-making consist in
forcing the States of Europe to issue loans at twenty or at ten per
cent, in making that twenty or ten per cent by the use of public funds,
in squeezing industry on a vast scale by buying up raw material, in
throwing a rope to the first founder of a business just to keep him
above water till his drowned-out enterprise is safely landed--in short,
in all the great battles for money-getting.
The banker, no doubt, like the conqueror, runs risks; but there are
so few men in a position to wage this warfare, that the sheep have no
business to meddle. Such grand struggles are between the shepherds.
Thus, as the defaulters are guilty of having wanted to win too much,
very little sympathy is felt as a rule for the misfortunes brought about
by the coalition of the Nucingens. If a speculator blows his brains
out, if a stockbroker bolts, if a lawyer makes off with the fortune of a
hundred families--which is far worse than killing a man--if a banker is
insolvent, all these catastrophes are forgotten in Paris in few months,
and buried under the oceanic surges of the great city.
Public-domain text, read in full here on John Shaqi.
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