'I can,' he answered. 'There was an old engagement between the three Powers, entered into last spring, that if they succeeded in the war, they would unite to force Russia to perform any conditions to which she might submit.

'This engagement had been allowed to sleep; I will not say that it was forgotten, but no one seemed disposed to revert to it. But after the twenty-second Protocol, when Piedmont was allowed to threaten Austria, and neither England nor France defended her, Buol got alarmed. He feared that Austria might be left exposed to the vengeance of Russia on the north and east, and to that of the Italian Liberals on the South. An alliance with France and England, though only for a specified purpose, at least would relieve Austria from the appearance of insulation. She would be able to talk of the two greatest Powers in Europe as her allies, and would thus acquire a moral force which might save her from attack. He recalled, therefore, the old engagement to the recollection of Clarendon and Louis Napoleon, and summoned them to fulfil it. I do not believe that either of them was pleased. But the engagement was formal, and its performance, though open to misconstruction, and intended by Austria to be misconstrued, was attended by some advantages, though different ones, to France and to England. So both your Government and ours complied.'

Tuesday, May 20.—The Tocquevilles and Rivet drank tea with us.

I mentioned to Tocqueville the subject of my conversations with Cousin and H.

'I agree with Cousin,' he said. 'The attempt to turn our national activity into speculation and commerce has often been made, but has never had any permanent success. The men who make these sudden fortunes are not happy, for they are always suspected of friponnerie, and the Government to which they belong is suspected of friponnerie. Still less happy are those who have attempted to make them, and have failed. And those who have not been able even to make the attempt are envious and sulky. So that the whole world becomes suspicious and dissatisfied.

'And even if it were universal, mere material prosperity is not enough for us. Our Government must give us something more: must gratify our ambition, or, at least, our vanity.'

'The Government,' said Rivet, 'has been making a desperate plunge in order to escape from the accusation of friponnerie. It has denounced in the "Moniteur" the faiseurs; it has dismissed a poor aide-de-camp of Jérôme's for doing what everybody has been doing ever since the coup d'état. When Ponsard's comedy, which was known to be a furious satire on the agioteurs, was first played, Louis Napoleon took the whole orchestra and pit stalls, and filled them with people instructed to applaud every allusion to the faiseurs. And he himself stood in his box, his body almost out of it, clapping most energetically every attack on them.'

'At the same time,' I said, 'has he not forced the Orleans Company and the Lyons Company to buy the Grand Central at much more than its worth? And was not that done in order to enable certain faiseurs to realise their gains?'

'He has forced the Orleans Company,' said Rivet, 'to buy up, or rather to amalgamate the Grand Central; but I will not say at more than its value. The amount to be paid is to depend on the comparative earnings of the different lines, for two years before and two years after the purchase.'

'But,' I said, 'is it not true, first, that the Orleans Company was unwilling to make the purchase? and, secondly, that thereupon the Grand Central shares rose much in the market?'