New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-06-24
THE FRENCH CREDIT MOBHIER.

mission to save the bssrgeotss and material
order - from the Red anarchy 70 be let loose in
May. 1889: and on tie other hand to save the
working people from the middle-clsss desposism
concentrated in the National Assembly. Besides,
there was the personal necessity Of paying his own
debts and those OF the respectable mob of the
Society OF the D,I Deeembre, and Of enrchlng him
self and them at the joint expense Of bourgeose sud
workmen The mission Of the man, II must be
avowed, was beet BY conflicting difficulties; forced
as be WA to appear simultaneously as the robber
and ~ the patriarchal benefactsr Of all classes
He could not give to the one class without taking
from the other, and be could net satisfy hls own
wants and those OF his followers without rooons
both. In the time of the Fronde the Due de
Guise was said to be the most obliging msn OF
France because he had transformed all bis estates
into obligations held by his psrtisans. Thus Bona
parte also proposed TO become the most oblislng
man of France BY converting all the property and
all the industry Of France into personal obligation
toward Louis Bonaparte. To steal France IN or
der to buy Frannce-that was the great problem
the man had 10 solve, and in this Transaction OF
taking from France what was to be given back to
France, not the least important side to him was
the percentage to be SKINNED of BY himself and
the Society of December Tenth. How were these
contradictory ,retenses to be reconciied how was
this nice economical problem to be solved how this
knotty point TO be untwined All the varied past
experience OF Bonaparte pointed to the one great
resource that had carried him over the most diff
cult economical situatons-Credt. And there
happened to be in France the school OF st. Simon.
which in its beginning and in its decay
deluded itself with the dream that all
the antaQonism of classes must disappear
before the creation Oi universal wealth
by some new. tangled scheme Of public credit. And
St Simon,m in this form had not yet died out At
the epoch of the coup dttaf. There was Michel
Cheyalier. the economist Of the Journal des De6dts
there was ProudbOn, who tried 10 disguise the
worst portion Of the st. Simonist doctrine under
the appearance of eccentric originality; and there
were two Portuguese Jews, practically connected
with stockobbipg and Rothschild who had sst at
the feet OF the Pere Enfantin, and who with their
practical experience had the boldness to snspecs
stOckiobbing behind Socialism, Law behind st.
| Simon. These men-Emile and Isaac Pereire--
are the founders of the Credit Mob,sr, and the ni-
tiators OF Bonapartist Socialism.
II il an old proyerb, a." Habent sua fa,a hbella.
Doctrines have also their fate as well as books st
Simon to become the guardian angel of the Pari'
Bourse, the prophet Of swindling the Messiah Of
general bribery and corruption History exhibits
no example of more cruel irony, save, perhaps,
ST. Just realized by the Juste miiien of Guizot,
and Napoleon by Louis Bonaparte.
Events march swifter than mans consideration.
While we, from an investigation of it's principles and
economical conditions, are pointing at the una
yoidable crash foreboded by the very constitution
of the Crfdt Mobiiier history is already at work
realizing our predictions. On the last OF May, one
of the Directors of the Crtdn hobier, N. Place
failed for the sum Of ten millions Of francs, having
only few days before been presented " the En-
"peror by NJ. de Morny" as one Of the disnr de Ia
finance. Les disur sen roat Almost on the same
day the Moriteur published the new law on the
Soeiftfs en- e0mmanditt, which on pretense OF put
ting check on the speculative fever, places those
societies at the mercy of the Crtda Moblh1 BY
mailing their formation dependent on the will OF
the government or of the Credit MObslier. And the
English press, ignorant Of even the exist
epce of difference between SOe,ttts en- eommdnd"e
and Soeitits anonymes, TO which latter the former
are thus sacrificed goes into ecsacies at TINS great
prudential act of Bona arsist wisdom, imagining
that French spectators will soon be speedily
brought round to the sodity Of the English Sad
leirs. Spsders and Palmers. At the same time the
law of drainage just passed BY the famous corps
Ltg,sIa,f and which is a direct infracsion OF all
former legislation and the Code Napoleon sanctions
the appropriation Of the mortgagor OF the
land in favor OF the government OF BOnaparte, VINO
BY this machinery proposes TO seize on the land as
by the Cytda MoJther h. is seziDg on the iadu''y,
and BY the Bank Of France on the commerce Vi
France and all this 10 save property IRON Ihe dan'
gers Of Socialism
Mespvl lie W. do not think it snperduous 10 con-
time our examination Of the Credit ho''|'er al
in. ,tutiop which, We think is destined yet 70 enact
sebi, yements If which the above are but ANAL De-
ginrirgs.
We have ,eez that the first function OF the Cred"
NoBi1r consists in afordiDg capital 70 such ladus
,r. concerns az are carried On By anonymous socie
ties. We auote from the report Of III. Isaac
Perere:
"Tte C,t4a No5ier sct., with regard 70 Us yai.e'
setting industrial capital part anaggoes " 'e
rnret1s dscEerged by discount backs wlih regar1 %
the vape. repre'erti,g commerce. ne sxeiooaen,
6r.t duty Of Tbs society i. ~ support tae
s,ia5al industry 70 facilitate the formation OF great
uri.es which, abandoned to themselves meet Tn
great ob.,see It. rDission IN tbs Isspea WI Ne
-ors ea.y fulfilled 1t dzpoees o; VaElOus M slH
and research ths, escape tie ge-p Of pr
yse dyidus for soupdly approaching The real vaIe
10 81. OF undertakings appealing 20 IT, AID IN
rro,peou. times our society Will bea guide of ep -
-. 70 ind profitable employment in dif'eat