large/7264/free_press_1206_librivox_64kb_mp3/freepress_01_belloc_64kb_5
large/7264/free_press_1206_librivox_64kb_mp3/freepress_01_belloc_64kb
English
7264
Another cognate fruit was what to day we call _Finance_, that is, the domination of the State by private Capitalists who, taking advantage of the necessities of the State, fix an increasing mortgage upon the State and work perpetually for fluidity, anonymity, and irresponsibility in their arrangements. It was in England, again, that this began and vigorously began with what I think was the first true "National Debt"; a product contemporary in its origins with industrial Capitalism. ANOTHER COGNATE FRUIT WAS WHAT TO DAY WE CALL FINANCE THAT IS THE DOMINATION OF THE STATE BY PRIVATE CAPITALISTS WHO TAKING ADVANTAGE OF THE NECESSITIES OF THE STATE FIXED AN INCREASING MORTGAGE UPON THE STATE AND WORK PERPETUALLY FOR FLUIDITY ANANIMITY AND IRRESPONSIBILITY IN THEIR ARRANGEMENTS IT WAS IN ENGLAND AGAIN THAT THIS BEGAN AND VIGOROUSLY BEGAN WITH WHAT I THINK WAS THE FIRST TRUE NATIONAL DEBT A PRODUCT CONTEMPORARY IN ITS ORIGINS WITH INDUSTRIAL CAPITALISM
long ago have died. It would have been confined for some few generations to those outer Northern parts of the Continent which had never really digested but had only received in some mechanical fashion the strong meat of Rome. It would have ceased with, or shortly after, the Thirty Years War. It was the defection of the English Crown, the immense booty rapidly obtained by a few adventurers, like the Cecils and Russells, and a still smaller number of old families, like the Howards, which put England, with all its profound traditions and with all its organic inheritance of the great European thing, upon the side of the Northern Germanies. It was inevitable, therefore, that in England the fruits should first appear, for here only was there deep soil. That fruit upon which our modern observation has been most fixed was _Capitalism_. Capitalism proceeded from England and from the English Reformation; but it was not fully alive until the early eighteenth century. In the nineteenth it matured. LVING TO DAY WOULD LONG AGO HAVE DIED IT WOULD HAVE BEEN CONFINED FOR SOME FEW GENERATIONS TO THOSE OUTER NORTHERN PARTS OF THE CONTINENT WHICH HAD NEVER REALLY DIGESTED BUT HAD ONLY RECEIVED IN SOME MECHANICAL FASHION THE STRONG MEAT OF ROME IT WOULD HAVE CEASED WITH OR SHORTLY AFTER THE THIRTY YEARS WAR IT WAS THE DEFECTION OF THE ENGLISH CROWN THE IMMENSE BOOTY RAPIDLY OBTAINED BY A FEW ADVENTURERS LIKE THE CEASELS AND THE RUSSELLS AND A STILL SMALLER NUMBER OF OLD FAMILIES LIKE THE HOWARDS WHICH PUT ENGLAND WITH ALL ITS PROFOUND TRADITIONS AND WITH ALL ITS ORGANIC INHERITANCE OF THE GREAT EUROPEAN THING UPON THE SIDE OF THE NORTHERN GERMANYS IT WAS INEVITABLE THEREFORE THAT IN ENGLAND THE FRUITS SHOULD FIRST APPEAR FOR HERE ONLY WAS THEIR DEEP SOIL THAT FRUIT UPON WHICH OUR MODERN OBSERVATION HAS BEEN MOST FIXED WAS CAPITALISM CAPITALISM PROCEEDED FROM ENGLAND AND FROM THE ENGLISH REFORMATION BUT IT WAS NOT FULLY ALIVE UNTIL THE EARLY EIGHTEENTH CENTURY IN THE NINETEENTH IT MATURED
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