nce, had
become Bonapartist. Fould not only represented Bonaparte's interests
at the Bourse, he represented also the interests of the Bourse with
Bonaparte. A passage from the London "Economist," the European organ of
the aristocracy of finance, described most strikingly the attitude of
this class. In its issue of February 1, 1851, its Paris correspondent
writes: "Now we have it stated from numerous quarters that France wishes
above all things for repose. The President declares it in his message to
the Legislative Assembly; it is echoed from the tribune; it is asserted
in the journals; it is announced from the pulpit; it is demonstrated
by the sensitiveness of the public funds at the least prospect of
disturbance, and their firmness the instant it is made manifest that
the Executive is far superior in wisdom and power to the factious
ex-officials of all former governments."

In its issue of November 29, 1851, the "Economist" declares editorially:
"The President is now recognized as the guardian of order on every Stock
Exchange of Europe." Accordingly, the Aristocracy of Finance condemned
the parliamentary strife of the party of Order with the Executive as a
"disturbance of order," and hailed every victory of the President over
its reputed representatives as a "victory of order." Under "aristocracy
of finance" must not, however, be understood merely the large bond
negotiators and speculators in government securities, of whom it may
be readily understood that their interests and the interests of the
Government coincide. The whole modern money trade, the whole banking
industry, is most intimately interwoven with the public credit. Part
of their business capital requires to be invested in interest-bearing
government securities that are promptly convertible into money; their
deposits, i. e., the capital placed at their disposal and by them
distributed among merchants and industrial establishments, flow partly
out of the dividends on government securities. The whole money market,
together with the priests of this market, is part and parcel of this
"aristocracy of finance" at every epoch when the stability of the
government is to them synonymous with "Moses and his prophets." This is
so even before things have reached the present stage when every deluge
threatens to carry away the old governments themselves.

But the industrial Bourgeoisie also, in its fanaticism for order, was
annoyed at the quarrels of the Parliamentary par