The Phase of Economy is really a misnomer. There was really no economy; there was strangulation and inaction through a cessation of expenditure. Nobody — unless it was a dexterous speculator on a falling market — grew richer, or even relatively richer. The only profits appeared in bank balance sheets. As the malady of arrest spread, traffics declined, enterprise died out, borrowing states and corporations suspended payments, and these children of good fortune, these well-off people, found themselves confronted at the same time by a suspension of payments and more and more urgent charitable appeals. Their bankers and solicitors informed them that first this trusted prop and then that was in arrears or in default. The waters of repudiation rose, submerging security after security. If they sold out and hoarded, some fluctuation in exchange might still engulf great fractions of their capital. “Whatever else may be falling off, sleepless nights are on the increase,” a financial paper remarked in 1933. The head full of self-reproach that tossed on the crumpled pillow in the villa marked time with the fretting of the unemployed who worried in the stuffy cold of the slum.
We have the Diary of Titus Cobbett, who rode on a bicycle from Rome and along the Riviera to Bordeaux in 1958. He had begun life as an art dealer, and had served the British Inland Revenue for some years as a valuer of furniture, pictures and the like. His tour seems to have been a journey of curiosity. He complains bitterly of the difficulty of changing money between Genoa and Bordeaux. He seems to have had some obscure diplomatic or consular function, but of that he is too discreet to speak. Perhaps he was sent to make a report, but if so there is no record of his instructions.
His description of that smitten coast is still very interesting reading. He had, as a young man with good connections, known Monte Carlo well in the twenties, and the places he visited were often those at which he had stayed as a guest. He records the abandonment of hundreds of lovely châteaux, locked-up, unsaleable, abandoned, in the keeping perhaps of some old domestic, or frankly looted by the people of the district, once delightful gardens whose upkeep had become impossible, blind tangles of roses, oleanders, pomegranates, oranges, cypresses, palm trees, agaves, cacti and weeds; unremunerative hotels allowed to fall into ruins, broken-down water-conduits washing away the roads, bungalows taken over by the peasants. Something of the same swift desolation must have come upon the Campagna and the villadom of the Bay of Naples during the ebb of Roman vitality, but this had been a swifter decline. The roads, he says, were very variable, but a great number of the road signs and roadside advertisements were still making their mute appeal to a vanished traffic. As he rode along wondering whether he would find a reasonably clean and hospitable shelter for the night, he read, he says, picked out in metallic knobs that answered brightly to his oil lamp:
H TEL S LEN ID
CU SINE RENOM
T T LE C NFOR M RNE
Whither had host and guests departed? Where were the owners and tenants of these villas and gardens; the bright clientele of the pleasure resorts? Many of them no doubt were already dead, for the Riviera owners had been mostly middle-aged and oldish people. The rest were back in their own countries leading impoverished lives, full of tiresome reminiscences, lost in the universal indigence.
Cobbett visited the ruins of the old Casino at Monte Carlo, and the younger Sports Club. The ceiling of the American Bar had fallen in a few days before his visit. “They looked small,” he says. “When I was young they had seemed tremendous places.”
The celebrated garden in which suicidal gamblers used to put an end to their troubles was overgrown with mesembryanthemum.
Yet there was one exception to this general decadence, and our observer stresses the significance of that. Air traffic was still going on. Between Rome and Marseilles he notes very precisely that he saw thirteen aeroplanes going east or west, besides two that he heard before he got up in the morning. “I doubt if I should have seen so many twenty-five years ago,” he writes, and goes on to enlarge, very illuminatingly, on the revival of trade and the possible revival of order these throbbing mechanisms portended. At Nice and at Marseilles he noted there was shipping — “not mere fishing boats but ships of a thousand tons or more”; and at Nice they were building a bigger ship — he estimated it as a three-thousand tonner. We have no other records of shipbuilding between 1947 and 1962. Long before 1940 the building of very big ships had ceased to be a “paying proposition” and it is fairly certain that no sea-going ships whatever, big or little, were built anywhere in the world in the early fifties. Year by year the transport system of the bankrupt planet had been sinking into disuse. It is only nowadays that our historical students are attempting to work out statistical charts of that swift decadence.
Cobbett also notes with surprise and hope a stretch of railway (operated by lever trolleys and a petrol engine or so) between the port of Marseilles and some inland quarries. He was clearly under the impression that no railways were operating in the world any longer. So soon as the traffic had sunken to a level below the possibility of paying subsistence wages, maintaining the permanent way and meeting running expenses, it had been impossible even for speculative buyers to handle these once valuable properties. They had become old junk on the landscape, tracks of torn and rusty rails smothered in agaves and wild flowers. He mentions the beauty of the viaducts of the old Sud de France, and tells how he bicycled along the footworn side-path of the Paris-Lyon-Méditerranée in preference to the road. The peasants had used the derelict railway as a convenient iron-mine, and few rails remained. Most of the sleepers had been used for fuel.
At Fréjus there was an aerodrome, and here he describes a very illuminating conversation with a Spanish-American aviator who had served first with the Poles, then with the Germans, and finally with the French during the warfare. Cobbett was impressed by the evident revival of trade, and surprised to find rubber, spices, mercury and block-tin among the commodities coming by air from the East, while clocks, watches, compasses, knives, needles, buttons, hardened glass and the like were going back in exchange. Most of the trade was barter, and the profits were so considerable that there seemed every reason to expect a steady expansion of the service.
He seems to have learnt for the first time of the developing combination of air-merchants who were mostly aviators surviving from the war. They had already organized a loose world union, it seems, and were keeping the airways and air lights in order.
Cobbett remarked on the shipping revival he had noted.
“We shall have to watch that,” said the aviator significantly.
“You take passengers?”
“When they can pay a passage.”
“But this is civilization coming back!” cried Cobbett.
“Don’t believe it! It’s a new civilization beginning.”
And he seems to have opened Cobbett’s eyes for the first time to some of the ideas that were already taking shape in such brains as his. “World Empire?” he said. “That’s an old idea! The men who hold the air and the transport hold the world. What do we want with empires and that stuff any more?”
Cobbett was greatly impressed by this conversation. He went on across France to Bordeaux, where it seems some sort of money awaited him, thinking this over and jotting down his thoughts. He makes one sound and interesting parallel between this new World Transport Organization and those Hansa Merchants who played such an important rôle in the revival of civilization about the Baltic and North Europe generally after the Roman collapse. “After all,” reflects Cobbett, “we have never given organized transport and trading its proper importance in history.”
At Bordeaux he sold his bicycle and was able to get a passage in an aeroplane to Le Bourget (an aerodrome