A nation which has surrendered its government to the commercial classes, and at the same time has a large population and considerable territorial possessions, cannot fail to incur ruin if their rule is long continued. The reason is, that their interest is adverse to that of the most numerous, important, and valuable classes of society; and they never cease to prosecute that interest till they have destroyed them. To import largely is for their interest; therefore, they promote all measures tending to favour the introduction of foreign productions, though their effect must be to depress, and in the end extinguish, native industry. They would have the people pay for these imports by enlarged exports; in other words, they would convert society into a mere appendage of the trading classes. To enlarge these exports, they make the most strenuous effort in every possible way to cheapen production – that is, to lower the wages of labour. Their idea of a perfect society is one in which the labouring classes are reduced to the rank of mere attendants on machines, because that is the cheapest form of production. They would have them attend on these machines at sixpence or ninepence a-day, live chiefly on potatoes, and eat no bread but what is imported in foreign vessels, and from foreign countries, because they are cheaper than their own. In this way both exports and imports would be elevated to the highest pitch; for the main part of the national food would figure in the imports, and the main part of national labour in the exports. Mercantile business would come to supersede every other – it alone would be attended with any profit. Meanwhile, domestic industry would languish and decline – the home market would be destroyed – the rural population, the main stay of a nation, gradually withered away and wasted. Poverty and misery would weaken and alienate the working classes; and, amidst a constant increase of exports and imports, and growth of commercial wealth, the nation would be destroyed.
This is no imaginary picture. The ruin of the Roman empire in ancient, the desolation of the Campagna of Rome in modern times, are permanent proofs of its reality.
It is generally said that slavery was the devouring cancer which destroyed the Roman Empire, and thence it is concluded by the Chrematists that, as we have no slaves, we can never be ruined like them. They forget that the reality of slavery may exist, and its evils remain, although its name has been expunged from the statute book. It is always to be recollected that slavery existed to just as great an extent in the most flourishing as in the decaying periods of the Roman dominion – in the days of Scipio and Cæsar, as in those of Constantine or Honorius. Cato was a great dealer in slaves. He was especially careful to sell his slaves when they became old, lest, when worn out, they should become chargeable. The republic was brought to the brink of ruin an hundred years before the birth of Christ by the Servile War; yet, with that devouring cancer in its intestines, it afterwards conquered the world. It was not slavery, but the combination of slavery with free-trade and vast patrician and commercial wealth, which really brought ruin on the ancient world. "Verumque confitentibus," says Pliny, "latifundia perdidere Italiam: jam vero et provincias." It was the accumulation of patrician revenue and commercial wealth in the capital, when the provinces were cultivated only by slaves, and the gradual extinction of Italian agriculture by the introduction of Egyptian and Lybian grain, where it could be raised cheaper than in the Italian fields, because money was less plentiful in the impoverished extremities than in the gorged centre of the Empire, which was the real cause of its ruin. The free race of Italian cultivators, the strength of the legions, disappeared before the fleets which wafted cheap grain from the banks of the Nile and the shores of Africa to the Tiber. Thence the impoverishing of the small freeholders – the buying up of all small freeholds by the great families – the extinction of grain culture in Italy – the managing of the huge estates into which the country was parcelled, in pasture cultivation, by means of slaves – the disappearance of Italian free-husbandmen – and the ruin of the Empire. So rich was the capital when it fell, that Ammianus Marcellinus has recorded, that when Alaric appeared before Rome, it contained within its walls seventeen hundred and fifty great families, many of whom had estates, almost entirely in pasturage, which yielded them what was equivalent, in English money, to one hundred and sixty thousand pounds sterling of yearly rent.
To the same cause is to be ascribed the continued desolation of the Campagna of Rome in modern times. Slavery has disappeared; but the curse of an unlimited and extraordinary supply of foreign grain to the Tiber still continues, and chains the proprietors of the Agro Romano to pasturage as the only means of profitable cultivation. Travellers are never weary of expressing their astonishment at the desolation which comes up to the very gates of Rome, as of Constantinople; but a very simple cause explains it in both. It is more profitable to keep the land in pasturage than to lay it out in grain cultivation, by reason of the deluge of foreign grain raised in semi-barbarous countries, with which the capital is flooded. From official documents laid before the Papal Government, which made the most anxious and minute enquiries into this subject, it appears that 8000 crowns laid out in agriculture in the Campagna of Rome, at the prices of Rome, would bring in a profit of only 30 crowns a-year; while the same sum laid out on pasturage of sheep on the same land, would bring in 1972 crowns. It is not surprising, in these circumstances, that the Campagna remains in grass.5
The cause of this extraordinary state of things is to be found, not in any peculiar adaptation of the Campagna to grass cultivation; for the land is, generally, of the most extraordinary fertility, and in former times, in the infancy of Rome, literally speaking "every rood had its man." The cause, and the sole cause, is to be found in the constant low price of grain in the capital, and the purchase of the whole of its supply from foreign states. The Papal Government inherited from its Imperial predecessor the habit, and the necessity, of making periodical distributions of grain, at a cheap rate, to the people. The people inherited, from the lazy successors of the conquerors of the world, the habit of looking to the public stores for cheap distributions of food, as those of Paris did during the Revolution. Government, elective, weak, without any armed force, and in the hands of priests, had not courage to incur the present hazard consequent on a departure from this ruinous system; and they bought their grain, of course, where they could get it cheapest – in Egypt, Odessa, and the Levant. The banks of the Volga are to modern, what those of the Nile were to ancient Rome. The Campagna has been chained to sterility and desolation by the same cause in modern as in ancient times – under the Popes as the Emperors. So far has this evil gone, that in 1797, when the Papal Government was overturned by the French, the Casa Annonaria of the Apostolic Chamber, or Board of Public Subsistence, exhibited a deficit of 3,293,000 crowns, (£645,000,) incurred in retailing bread to the people cheaper than they could purchase it even in the cheapest foreign markets.6
The Campagna of Rome is the great type of the state to which the doctrine of the Chrematists would reduce the states of modern Europe. Agriculture, ruined by the perpetual