The French philosophy of the eighteenth century was in full strength. Those were the years in which Voltaire ruled European opinion, and Turgot could not but take account of his influence. Yet no one could apparently be more unlike those who were especially named as the French philosophers of the eighteenth century. He remained reverential; he was never blasphemous, never blatant; he was careful to avoid giving needless pain or arousing fruitless discussion; and, while the tendency of his whole thinking was evidently removing him from the orthodoxy of the Church, his was a broader and deeper philosophy than that which was then dominant.
American politician (1832-1918)
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Turgot's attempt... showed how the results that had followed Law's issues of paper money must follow all such issues. As regards currency inflation, Turgot saw that the issue of paper money beyond the point where it is convertible into coin is the beginning of disaster—that a standard of value must have value, just as a standard of length must have length, or a standard of capacity, capacity, or a standard of weight, weight. He showed that if a larger amount of the circulating medium is issued than is called for by the business of the country, it will begin to be discredited, and that paper, if its issue be not controlled by its relation to some real standard of value, inevitably depreciates no matter what stamp it bears. Turgot developed his argument [on currency inflation] with a depth, strength, clearness, and breadth, which have amazed every dispassionate reader from that day to this. It still remains one of the best presentations of this subject ever made; and what adds to our wonder is that it was not the result of a study of authorities, but was worked out wholly from his own observation and thought. Up to this time there were no authorities and no received doctrine on the subject; there were simply records of financial practice more or less vicious; it was reserved for this young student, in a letter not intended for publication, to lay down for the first time the great law in which the modern world, after all its puzzling and costly experiences, has found safety.
Living in filth was regarded by great numbers of holy men, who set an example to the Church and to society, as an evidence of sanctity. St. Jerome and the Breviary of the Roman Church dwell with unction on the fact that St. Hilarion lived his whole life long in utter physical uncleanliness; St. Athanasius glorifies St. Anthony because he had never washed his feet; St. Abraham's most striking evidence of holiness was that for fifty years he washed neither his hands nor his feet; St. Sylvia never washed any part of her body save her fingers; St. Euphraxia belonged to a convent in which the nuns religiously abstained from bathing. St. Mary of Egypt was emninent for filthiness; St. Simon Stylites was in this respect unspeakable - the least that can be said is, that he lived in ordure and stench intolerable to his visitors.
His [Turgot's] first important literary and scholastic effort was a treatise On the Existence of God. Few fragments of it remain, but we are helped to understand him when we learn that he asserted, and to the end of his life maintained, his belief in an Almighty Creator and Upholder of the Universe. It did, indeed, at a later period suit the purposes of his enemies, exasperated by his tolerant spirit and his reforming plans, to proclaim him an atheist; but that sort of charge has been the commonest of missiles against troublesome thinkers in all times.
Into the very midst of all this welter of evil, at a point in time to all appearance hopeless, at a point in space apparently defenseless, in a nation of which every man, woman, and child was under sentence of death from its sovereign, was born a man who wrought as no other has ever done for a redemption of civilization from the main cause of all that misery; who thought out for Europe the precepts of right reason in international law; who made them heard; who gave a noble change to the course of human affairs; whose thoughts, reasonings, suggestions, and appeals produced an environment in which came an evolution of humanity that still continues. Huig de Groot, afterward known to the world as Hugo Grotius was born at Delft in Holland on Easter day of 1583. It was at the crisis of the struggle between Spain and the Netherlands. That struggle had already continued for twenty years, and just after the close of his first year, in the very town where he was lying in his cradle, came its most fearful event, that which maddened both sides—the assassination of William of Orange, nominally by Balthazar Gerard, really by Philip II of Spain.
Persons who clamor for governmental control of American railways should visit Germany, and above all Russia, to see how such control results. In Germany its defects are evident enough; people are made to travel in carriages which our main lines would not think of using, and with a lack of conveniences which with us would provoke a revolt; but the most amazing thing about this administration in Russia is to see how, after all this vast expenditure, the whole atmosphere of the country seems to paralyze energy.
My purpose in writing these essays has been to acquaint men who are interested in the bearings of modern history on public life with sundry statesmen whose time was devoted not to seeking office or to winning a brief popular fame by chicanery or pettifoggery, but to serving the great interests of modern states and, indeed, of universal humanity. I would present these statesmen and their work as especially worthy to be studied by those who aspire to serve their country in any way.
TURGOT...I present today one of the three greatest statesmen who fought unreason in France between the close of the Middle Ages and the outbreak of the French Revolution—Louis XI and Richelieu being the two other. And not only this: were you to count the greatest men of the modern world upon your fingers, he would be of the number—a great thinker, writer, administrator, philanthropist, statesman, and above all, a great character and a great man. And yet, judged by ordinary standards, a failure. For he was thrown out of his culminating position, as Comptroller-General of France, after serving but twenty months, and then lived only long enough to see every leading measure to which he had devoted his life deliberately and malignantly undone; the flagrant abuses which he had abolished restored, apparently forever; the highways to national prosperity, peace, and influence, which he had opened, destroyed; and his country put under full headway toward the greatest catastrophe the modern world has seen.
He [Turgot] now, in 1749, at the age of twenty two, wrote... a letter which has been an object of wonder among political thinkers ever since. Its subject was paper money. Discussing the ideas of John Law, and especially the essay of Terrasson which had supported them, he dissected them mercilessly, but in a way useful not only in those times but in these. ...Terrasson's arguments in behalf of unlimited issues of paper had been put forth in 1720. ...and he declared that the material used for bearing the sign of value is indifferent ...and that if a sovereign issues enough of paper promises, he will be able to loan or even to give money in unlimited amounts to his needy subjects. ...without danger of depreciation. ...Terrasson also made the distinction between the note of a business man and notes issued by a government, that the former comes back and must be paid, but that the latter need not come back and can be kept afloat forever by simple governmental command, thus becoming that blessed thing—worshiped widely, not many years since, in our own country—"fiat money."
The British ambassador was Sir Robert Morier. He too was a strong character, though lacking apparently in some of General [der Infanterie] von Schweinitz's more kindly qualities. He was big, roughish, and at times so brusque that he might almost be called brutal. When bullying was needed it was generally understood that he could do it con amore.
While I have given references which will enable historical students to verify my statements and follow them further, I have constantly had in mind the average man intelligently interested in political affairs. It is for this reason that to each of these personages is given a somewhat extended historical setting which may enable any reader to understand his environment, the men and things with which he contended, and the results which he sought and accomplished.