commercial speculations, requiring intelligence and honesty on the part of the directors, confidence and liberal disbursements from the shareholders.

These are, among the French, so numerous, and have been of late years (in the shape of Newspaper Companies, Bitumen Companies, Galvanized-Iron Companies, Railroad Companies, &c.) pursued with such a blind FUROR and lust of gain, by that easily excited and imaginative people, that, as may be imagined, the satirist has found plenty of occasion for remark, and M. Macaire and his friend innumerable opportunities for exercising their talents.

We know nothing of M. Emile de Girardin, except that, in a duel, he shot the best man in France, Armaud Carrel; and in Girardin's favor it must be said, that he had no other alternative; but was right in provoking the duel, seeing that the whole Republican party had vowed his destruction, and that he fought and killed their champion, as it were. We know nothing of M. Girardin's private character: but, as far as we can judge from the French public prints, he seems to be the most speculative of speculators, and, of course, a fair butt for the malice of the caricaturists. His one great crime, in the eyes of the French Republicans and Republican newspaper proprietors, was, that Girardin set up a journal, as he called it, "franchement monarchique,"--a journal in the pay of the monarchy, that is,--and a journal that cost only forty francs by the year. The National costs twice as much; the Charivari itself costs half as much again; and though all newspapers, of all parties, concurred in "snubbing" poor M. Girardin and his journal, the Republican prints, were by far the most bitter against him, thundering daily accusations and personalities; whether the abuse was well or ill founded, we know not. Hence arose the duel with Carrel; after the termination of which, Girardin put by his pistol, and vowed, very properly, to assist in the shedding of no more blood. Girardin had been the originator of numerous other speculations besides the journal: the capital of these, like that of the journal, was raised by shares, and the shareholders, by some fatality, have found themselves wofully in the lurch; while Girardin carries on the war gayly, is, or was, a member of the Chamber of Deputies, has money, goes to Court, and possesses a certain kind of reputation. He invented, we believe, the "Institution Agronome de Coetbo,"* the "Physionotype," the "Journal des Connoissances Utiles," the "Pantheon Littéraire," and the system of "Primes"--premiums, that is--to be given, by lottery, to certain subscribers in these institutions. Could Robert Macaire see such things going on, and have no hand in them?

* It is not necessary to enter into descriptions of these various inventions.

Accordingly Messrs. Macaire and Bertrand are made the heroes of many speculations of the kind. In almost the first print of our collection, Robert discourses to Bertrand of his projects. "Bertrand," says the disinterested admirer of talent and enterprise, "j'adore l'industrie. Si tu veux nous créons une banque, mais là, une vraie banque: capital cent millions de millions, cent milliards de milliards d'actions. Nous enfonçons la banque de France, les banquiers, les banquistes; nous enfonçons tout le monde." "Oui," says Bertrand, very calm and stupid, "mais les gendarmes?" "Que tu es bête, Bertrand: est-ce qu'on arrête un millionaire?" Such is the key to M. Macaire's philosophy; and a wise creed too, as times go.

Acting on these principles, Robert appears soon after; he has not created a bank, but a journal. He sits in a chair of state, and discourses to a shareholder. Bertrand, calm and stupid as before, stands humbly behind. "Sir," says the editor of La Blague, journal quotidienne, "our profits arise from a new combination. The journal costs twenty francs; we sell it for twenty-three and a half. A million subscribers make three millions and a half of profits; there are my figures; contradict me by figures, or I will bring an action for libel." The reader may fancy the scene takes place in England, where many such a swindling prospectus has obtained credit ere now. At Plate 33, Robert is still a journalist; he brings to the editor of a paper an article of his composition, a violent attack on a law. "My dear M. Macaire," says the editor, "this must be changed; we must PRAISE this law." "Bon, bon!" says our versatile Macaire. "Je vais retoucher ça, et je vous fais en faveur de la loi UN ARTICLE MOUSSEUX."

Can such things be? Is it possible that French journalists can so forget themselves? The rogues! they should come to England and learn consistency. The honesty of the Press in England is like the air we breathe, without it we die. No, no! in France, the satire may do very well; but for England it is too monstrous. Call the press stupid, call it vulgar, call it violent,--but honest it is. Who ever heard of a journal changing its politics? O tempora! O mores! as Robert Macaire says, this would be carrying the joke too far.

When he has done with newspapers, Robert Macaire begins to distinguish himself on 'Change,* as a creator of companies, a vender of shares, or a dabbler in foreign stock. "Buy my coal-mine shares," shouts Robert; "gold mines, silver mines, diamond mines, 'sont de la pot-bouille de la ratatouille en comparaison de ma houille.'" "Look," says he, on another occasion, to a very timid, open-countenanced client, "you have a property to sell! I have found the very man, a rich capitalist, a fellow whose bills are better than bank-notes." His client sells; the bills are taken in payment, and signed by that respectable capitalist, Monsieur de Saint Bertrand. At Plate 81, we find him inditing a circular letter to all the world, running thus: "Sir,--I regret to say that your application for shares in the Consolidated European Incombustible Blacking Association cannot be complied with, as all the shares of the C. E. I. B. A. were disposed of on the day they were issued. I have, nevertheless, registered your name, and in case a second series should be put forth, I shall have the honor of immediately giving you notice. I am, sir, yours, &c., the Director, Robert Macaire."--"Print 300,000 of these," he says to Bertrand, "and poison all France with them." As usual, the stupid Bertrand remonstrates--"But we have not sold a single share; you have not a penny in your pocket, and"--"Bertrand, you are an ass; do as I bid you."

* We have given a description of a genteel Macaire in the account of M. de Bernard's novels.

Will this satire apply anywhere in England? Have we any Consolidated European Blacking Associations amongst us? Have we penniless directors issuing El Dorado prospectuses, and jockeying their shares through the market? For information on this head, we must refer the reader to the newspapers; or if he be connected with the city, and acquainted with commercial men, he will be able to say whether ALL the persons whose names figure at the head of announcements of projected companies are as rich as Rothschild, or quite as honest as heart could desire.

When Macaire has sufficiently exploité the Bourse, whether as a gambler in the public funds or other companies, he sagely perceives that it is time to turn to some other profession, and, providing himself with a black gown, proposes blandly to Bertrand to set up-- a new religion. "Mon ami," says the repentant sinner, "le temps de la commandite va passer, MAIS LES BADAUDS NE PASSERONT PAS." (O rare sentence! it should be written in letters of gold!) "OCCUPONS NOUS DE CE QUI EST ÉTERNEL. Si nous fassions une réligion?" On which M. Bertrand remarks, "A religion! what the devil--a religion is not an easy thing to make." But Macaire's receipt is easy. "Get a gown, take a shop," he says, "borrow some chairs, preach about Napoleon, or the discovery of America, or Molière--and there's a religion for you."

We have quoted this sentence more for the contrast it offers with our own manners, than for its merits. After the noble paragraph, "Les badauds ne passeront pas. Occupons nous de ce qui est éternel," one would have expected better satire upon cant than the words that follow. We are not in a condition to say whether the subjects chosen are those that had been selected by Père Enfantin, or Chatel, or Lacordaire; but the words are curious, we think, for the very reason that the satire is so poor. The fact is, there is no religion in Paris; even clever M. Philipon, who satirizes everything, and must know, therefore, some little about the subject which he ridicules, has nothing to say but, "Preach a sermon, and that makes a religion; anything will do." If ANYTHING will do, it is clear that the religious commodity is not in much demand. Tartuffe had better things to say about hypocrisy in his time; but then Faith was alive; now, there is no satirizing religious cant in France, for its contrary, true religion, has disappeared altogether; and having no substance, can cast no shadow. If a satirist would lash the religious hypocrites in ENGLAND now--the High Church hypocrites, the Low Church hypocrites, the promiscuous Dissenting hypocrites, the No Popery hypocrites--he would have ample subject enough. In France, the religious hypocrites went out with the Bourbons. Those who remain pious in that country (or, rather, we should say, in the capital, for of that we speak,) are unaffectedly so, for they have no worldly benefit to hope for from their piety; the great majority have no religion at all, and do not scoff at the few, for scoffing is the minority's weapon, and is passed always to the weaker side, whatever that may be. Thus H. B. caricatures the Ministers: if by any accident that body of men should be dismissed from their situations, and be succeeded by H. B.'s friends, the Tories,--what must the poor artist do? He must pine away and die, if he be not converted; he cannot always be paying compliments; for caricature has a spice of Goethe's Devil in it, and is "der Geist der stets verneint," the Spirit that is always denying.

With one or two of the French writers and painters of caricatures, the King tried the experiment of bribery; which succeeded occasionally in buying off the enemy, and bringing him from the republican to the royal camp; but when there, the deserter was never of any use. Figaro, when so treated, grew fat and desponding, and lost all his sprightly VERVE; and Nemesis became as gentle as a Quakeress. But these instances of "ratting" were not many. Some few poets were bought over; but, among men following the profession of the press, a change of politics is an infringement of the point of honor, and a man must FIGHT as well as apostatize. A very curious table might be made, signalizing the difference of the moral standard between us and the French. Why is the grossness and indelicacy, publicly permitted in England, unknown in France, where private morality is certainly at a lower ebb? Why is the point of private honor now more rigidly maintained among the French? Why is it, as it should be, a moral disgrace for a Frenchman to go into debt, and no disgrace for him to cheat his customer? Why is there more honesty and less--more propriety and less?--and how are we to account for the particular vices or virtues which belong to each nation in its turn?

The above is the Reverend M. Macaire's solitary exploit as a