A Modern History, From the Time of Luther to the Fall of Napoleon / For the Use of Schools and Colleges

by John Lord

It was Fatal Effects of the Delusion. not possible that the shares of the company should advance so greatly, and the public not perceive that they had advanced beyond their value; it was not possible, that, while paper money so vastly increased in quantity, the numerical prices of all other things should not increase also, and that foreigners who sold their manufactures to the French should not turn their paper into gold, and carry it out of the kingdom; it was not possible that the disappearance of the coin should not create alarm, notwithstanding the edicts of the regent, and the reasonings of Law; it was not possible that annuitants should not discover that their old incomes were now insufficient and less valuable, as the medium in which they were paid was less valuable; it was not possible that the small part of society which may be called the sober and reasoning part, should not be so struck with the sudden fortunes and extravagant enthusiasm which prevailed, as not to doubt of the solidity of a system, unphilosophical in itself, and which, after all, had to depend on the profits of a commercial company, the good faith of the regent, and the skill of Law; it was impossible, on these and other accounts, but that gold and silver should be at last preferred to paper notes, of whatever description or promise. These were inevitable consequences. Hence the failure of the scheme of Law, and the ruin of all who embarked in it, owing to a change in public opinion as to the probable success of the scheme, and, secondly, the over-issue of money.

By this great folly, four hundred thousand families were ruined, or greatly reduced; but the government got rid of about eight hundred millions of debts. The sufferings of the people, with such a government, did not, however, create great solicitude; the same old course of folly and extravagance was pursued by the court.

Nor was there a change for the better when Louis XV. attained his majority. His vices and follies exceeded all that had ever been displayed before. The support of his mistresses alone was enough to embarrass the nation. Their waste and extravagance almost exceeded belief. Who has not heard of the disgraceful and disgusting iniquities of Pompadour and Du Barry?

The regency of the Duke of Orleans occupied the first eight years of the reign of Louis XV. The prime minister of the regent was Dubois, at first his tutor, and afterwards Archbishop of Cambray. He was rewarded with a cardinal's hat for the service he rendered to the Jesuits in their quarrel with the Jansenists, but was a man of unprincipled character; a fit minister to a prince who pretended to be too intellectual to worship God, and who copied Henry IV. only in his licentiousness.

The first minister of Louis XV., after he assumed himself the reins of government, was the Duke of Bourbon, lineal heir of the house of Condé, and first prince of the blood. But he was a man of no character, and his short administration was signalized by no important event.

Cardinal Fleury succeeded the Duke of Bourbon as Administration of Cardinal Fleury. prime minister. He had been preceptor of the king, and was superior to all the intrigues of the court; a man of great timidity, but also a man of great probity, gentleness, and benignity. Fortunately, he was intrusted with power at a period of great domestic tranquillity, and his administration was, like that of Walpole, pacific. He projected, however, no schemes of useful reform, and made no improvements in laws or finance. But he ruled despotically, and with good intentions, from 1726 to 1743.

The most considerable subject of interest connected with his peaceful administration, was the quarrel between the Jesuits and the Jansenists. Fleury took the side of the former, although he was never an active partisan; and he was induced to support the Jesuits for the sake of securing the cardinal's hat—the highest honor, next to that of the tiara, which could be conferred on an ecclesiastic. The Jesuits upheld the crumbling power of the popes, and the popes rewarded the advocates of that body of men, who were their ablest supporters.

The Jansenist controversy is too important to be passed over with a mere allusion. It was the great event in the history of Catholic Europe during the seventeenth century. It involved principles of great theological, and even political interest.

The Jansenist controversy grew out of the long-disputed questions pertaining to grace and free will—questions which were agitated with great spirit and acrimony in the seventeenth century as they had previously been centuries before by Augustine and Pelagius. The Jesuits had never agreed with the great oracle of the Western church in his views on certain points, and it was their aim to show the absolute freedom of the human will—that it had a self-determining power, a perfect liberty to act or not to act. Molina, a Spanish Jesuit, had been a great defender of this ancient Pelagianism, and his views were opposed by the Dominicans, and the controversy was carried into all the universities of Europe. The Council of Trent was too wise to meddle with this difficult question; but angry theologians would not let it rest, and it was discussed with peculiar fervor in the Catholic University of Louvaine. Among the doctors who there distinguished themselves in reviving the great contest of the fifth and sixth centuries, were Cornelius Jansen. Cornelius Jansen of Holland, and Jean de Verger of Gascony. Both these doctors hated the Jesuits, and lamented the dangerous doctrines which they defended, and advocated the views of Augustine and the Calvinists. Jansen became professor of divinity in the university, and then Bishop of Ypres. After an uninterrupted study of twenty years, he produced his celebrated book called Augustinus, in which he set forth the servitude of the will, and the necessity of divine grace to break the bondage, which, however, he maintained, like Calvin, is imparted only to a few, and in pursuance of a decree existing in the divine mind before the creation of our species. But Jansen died before the book was finished, and two years elapsed before it was published, but, when published, it was the signal for a contest which distracted Europe for seventy years.