The first portion of M. Moland's essay is devoted to an examination of the Romance of Saint Graal and the Round Table. His view is that, though in its present shape it

which a manuscript in French is extant. claimed. They are the work of a peculiar There is little reason to doubt that they must class; they describe the manners and feelhave been composed in Latin and afterwards ings of a feudal aristocracy, and they serve translated. It was not till a much later age to illustrate a remarkable revolution in sothat French became the usual language of ciety. It is in these works that may be deecclesiastics. They were necessarily obliged tected the first gems of modern thought to preserve a knowledge of Latin, and it and feeling, and of influences which in some was one of the many obstacles to the dif- measure are still felt. fusion of learning that the only class which possessed any cultivation wrote, and frequently spoke, a language which had been gradually supplanted among the people by the new dialects. The formation of the new unquestionably belongs to the twelfth cenlanguages in Italy, France, and Spain was a slow and laborious process. It took a long time for them to acquire the accuracy and refinement necessary for a written language. The clergy were using a foreign tongue which in their hands had lost all its beauty and power, and it followed that, though they were by no means illiterate during what are called the dark ages, they produced little that possessed either vigor or originality. The people, on the other hand, spoke languages that were in a state of transition, and which were only reduced into form when the learned ecclesiastics at length condescended to make use of them. There is, it is believed, little French writing extant which can be shown to be earlier than the eleventh century, though no doubt the langurge was extensively employed in songs and in poetry. A hundred years later, about the time of the First Crusade, French and Provençal were distinct languages, wanting neither in refinement nor flexibility. It was the age of song and metrical romances, and marks an important step in the progress of European

civilization.

To this period also belong the earliest prose romances. They have, perhaps, received less attention than the poetry of the same age, though not less deserving of consideration for the light which they throw on the formation of the French language as well as for their bearing on the intellectual history of those times. Besides this, the prose romances are of colossal bulk, and have been for the most part known only through the very imperfect reprints of the sixteenth century. But, in M. Moland's view, they form an exact counterpart to the metrical romances and Chansons de Geste of the same period. The former were intended to be read-the latter to be recited or de

tury, it was then only a reproduction, in a
new form, of a work which was already of
some antiquity. The basis of it he conceives
may have been furnished by some of the nu-
merous legends which were carried from
Asia to the western nations of Europe, and
which were mixed up with the history of
their conversion to Christianity, and in its
earliest form it had the character of a spir-
itual allegory. In those parts of the cycle
which appear to be most ancient, an exclu-
sively theological idea and a religious pur-
pose are apparent. At the beginning of the
period of chivalry, that institution was sacer-
dotal and monastic in spirit. The Church
only looked upon it as a religious institution
and a military priesthood. To quote M.
Moland:-
:-

"It cannot be contested that about the eleventh century the Latin Book of Saint Graal was designed to trace out the chivalrous ideal which, at the same date, it was sought to realize in the Order of the Temple. It laid down, so to speak, the terms of the union of austerity with heroism, of bravery with faith. It proposed the purity and chastity of the priest for the knightly warrior, and endeavored to extend to the army of soldiers the same reform which Gregory VII. had imposed upon the priesthood.

"We believe that this was the spirit and the Norman compilers designate the vielle design of the work written in Latin which histoire and the haute histoire. In some portions of the French cycle, especially in the Romance of Saint Graal, it is clear from the evidence of the translation that the romance writers of the twelfth century followed the original to which they refer with ceived by the monastic spirit was not destolerable fidelity. But the severe ideal contined to triumph. The passion for adventure, for dangerous enterprises, for brilliant feats of arms, increased steadily. Chivalry

discarded a belief in ascetic purity for that are attributed to the Bishop of Paris, Maupassionate idolatry of woman which soon rice de Sully. The style of these discourses became its first duty and motive. Thus, the is some evidence of their authenticity and profane element soon preponderated over their design. They are evidently composed the ecclesiastical one. When nobles or complaisant ecclesiastics remodelled and ampli- for a popular and ignorant audience. There fied the old work, they introduced innumer- is neither scholastic subtlety, allegory, nor able episodes to gratify modern' tastes. science. The ideas are precise and practiThey mixed with the mystical pictures of the cal, the illustrations familiar, and taken from old book others more fitted to flatter the im-every-day life. There are sometimes introagination of their readers. These are not duced legends for minds with an appetite, the only incompatible influences which made like that of children, for the marvellous. It the vast cycle of fiction so discordant with itself. The book is made, not only to exwas the commencement of French preachpress contradictory ideas, but it has been ing. These discourses were for a long time worked at by races essentially different in the model of the instructions that were adfeeling. Originally, it was manifestly the dressed every Sunday to the congregation. fruit of the Celtic genius, of which it pos- There are many copies of them which belong sessed the principal characteristics; then la to the thirteenth and fourteenth centuries. haute histoire suddenly fell into other hands, The other collections of this class belong to and the Norman genius took up and continued the work of the Breton." pretty nearly the same age, and are in style and character the same. But much of the Upon this principle M. Moland believes best preaching was still in Latin. Thus the that the Cycle of Saint Graal is to be inter- growth of French eloquence, and the develpreted, and that it may be considered as the opment of the language in preaching and most important literary monument of the public speaking, was retarded. In the secefforts to carry out the theocratic principle ond half of the fourteenth century, and the in the eleventh century-efforts which soon beginning of the next, there was a remarkfailed utterly, and which were afterwards able religious and political movement. As condemned by the popes themselves. The society became more civilized, the power and Romances of Saint Graal and the Round the influence of the practised speaker inTable were expressly prohibited by the creased. The same faculties were equally court of Rome in the fourteenth century, at useful to the ambitious layman and to the the same time that the Order of Templars ecclesiastic. Thus was gradually formed the was abolished. We regret, on a subject so school of eloquence, and the rich and powinteresting, that we can only indicate theerful language, which reached its full maturreasoning upon which this view is founded. ity in the sermons of Massillon and Bossuet. The next source of French literature consists of the legends, sacred and profane, which possess a partly religious and partly historical character. The legends of the mediæval church do not form a complete cycle like the book of Saint Graal, but rather resemble the fantastic and brilliant illuminations on the margin of the sacred text. They were, however, essentially a part of the popular literature, and, like the romances, sprang immediately from the Church. From them, too, descended in a direct line the dramatic compositions called Mysteries, from which undoubtedly the theatre of modern Europe was derived.

The earliest remains of French sermons which can be considered an authentic specimen of French preaching are found in a manuscript containing a series of short instructions for each Sunday in the year, which

Thus it will be seen that the French intellect in the twelfth and thirteenth centuries was already full of activity. The first impulse in every branch of thought came from the Church. But as cultivation became more general, the Church ceased to have the exclusive control of letters and science. Romances were no longer theological; and the dramatic mysteries, though for a long time they preserved traces of their origin, gradually changed in character. But in each case the transition was slow, and necessarily coincided with the general advance of society. It is M. Moland's aim to mark these epochs of change, and to show how the civilization of the middle ages was created, and how it passed into the Renaissance and modern history. The result of all such investigations always proves the inseparable connection in thought and feeling between suc

From The Philadelphia Inquirer.

HOW THOMAS JEFFERSON FORESHAD-
OWED THE FINANCIAL POLICY
FOR 1862.

cessive ages; and that, however far we go nected in purpose, and serve in turn to illusback, we can never reach the fountain-head. trate the plan of inquiry laid down by the It is now no longer the fashion to assume author. that there was ever a period of utter darkness during the middle ages. It certainly was not so in France. As we learn from M. Guizot, in his History of the Civilization of Europe, in spite of incursions of barbarians and endless confusion the thread of Roman civilization was never broken. Learning was still preserved by the Church; and some A FEW days ago we submitted some reremains of Roman law still subsisted. The marks upon the financial policy of the Govseventh century was probably the darkest; ernment, which summed up the present issue but after the age of Charlemagne the prog- about as follows: The question forced upon ress of learning became more conspicuous. the Government is, whether it will make long From that date onwards the so-called mod-loans for large sums, at high rates of interern languages were in process of formation, est, or whether, by exercising its right of till, as we have seen, in the twelfth century sovereignty and taking exclusive possession they suddenly appeared in all the luxuriance of spontaneous growth. The French of Paris in the nineteenth century is the legitimate successor of the Norman Wallon, in which the Romance of the Round Table and the Assize of Jerusalem were written. The history of this language and literature must be always full of interest, and the study of it cannot fail to be of use:

"They teach us how the intellectual wealth and moral grandeur of France were formed. Far from diminishing our admiration for the writers of the best periods, and the poets of the highest order, they show us how their advent had been arranged and timed to produce their powerful and correct genius. They enable us better to appreciate the immortal chefs-d'œuvre which can never be forgotten or exhausted. They have, too, another effect; they enlarge the horizon of our vision. Whilst they give us the habit of looking beyond those great monuments which for many minds exclude everything else, they at the same time prevent us from judging with too much partiality the works of our own time. They help us to keep from being discouraged, and warn us alike not to finish the history of our literature too soon, or to begin it too late."

of the paper circulation of the country, it will make short loans for optional sums without paying any interest at all. This latter it can do by the issue of its own notes, and by causing the withdrawal of the competing circulation of the banks, such withdrawal to be effected by taxation, or any other convenient legislative device. Such a plan was suggested by the Secretary of the Treasury in his last Annual Report, and in concluding our observations upon the above issue, and the recommendations of that report, we remarked that the proposed measure did not rest upon any new theories, but upon principles which had the sanction of Jefferson, Gallatin, and Benton. It is to make the latter assertion good, at least with reference to one of these names, that we recur to the subject this morning.

In October, 1815, Mr. Jefferson wrote to Mr. Gallatin his belief that this country could be carried through the longest war, against her most powerful enemy, without ever knowing the want of a dollar, without dependence on the traitorous class of her citizens, without bearing hard on the resources of the people, or loading the public with an indefinite burden of debt. This he said could be done In dealing with a work of this kind, we" by the total prohibition of all private pamust be content to give a very general out- per," "by reasonable taxes in war," and line of the mode in which the subject is "by the necessary emissions of public pahandled, for our space will not permit us to per, of circulating size, bottomed on special dwell upon details. There is much in M. taxes."

Moland's volume that is extremely interest- But these opinions of Jefferson, written ing. The materials are treated in a clear to Mr. Gallatin when the war was over, were and scholar-like manner, and the different no mere after-thoughts of that sagacious essays of which it is made up are all con- and far-sighted statesman. Repeatedly,

while the war was in progress, he commu- dated June 24th, 1813, already referred to, nicated to public and private correspondents Jefferson wrote as follows: "In this way I the same views as to the true financial pol- am not without hope that this great, this sole icy of the Government. Thus in June and resource for loans in an agricultural country, September, 1813, he wrote to John W. might yet be recovered for the use of the naEppes a series of letters on the finances, tion during war; and if obtained in perpetcopies of which were subsequently commu-uum, it would always be sufficient to carry nicated to the President and Mr. Monroe. us through any war; provided, that in the In these he used the following remarkable interval between war and war all the outlanguage: "The question will be asked standing paper should be called in, coin be and ought to be looked at, what is to be the permitted to flow in again, and to hold the resource if loans cannot be obtained? There field of circulation, until another war should is but one. Bank paper must be suppressed, require its yielding place again to the naand the circulating medium must be restored tional medium.” to the nation to whom it belongs. It is the only fund on which they can rely for loans; it is the only resource which can never fail them, and it is an abundant one for every necessary purpose. Let banks continue if they please, but let them discount for cash alone, or for Treasury notes."

At this point we find ourselves approaching the usual limit of a newspaper article, without having used one-half the passages in Jefferson's correspondence marked for illustration of this interesting and important subject. Pages on pages to the same effect might be quoted from his letters written durThe last quoted passage was written Sep-ing, and a few years subsequent to the war tember, 1813; but Mr. Jefferson had writ- of 1812. The foregoing however should suften to the same effect to the same gentleman fice. They all show the strong conviction in the previous June, during the first year of Mr. Jefferson that the circulating medium of the war. In September, 1814, he wrote of the country should be in possession of the to Thomas Cooper, Esq., of the eagerness Government, and under its exclusive control, with which everybody would receive Treas- that during war it was the sole, reliable, and ury notes, if founded on specific taxes; certain resource for loans, that it was an adding, that "Congress may now borrow of ample fund which could be used without the public, and without interest, all the interest; that it was the rightful franchise money they may want, to the amount of a of the nation alone; that it had been imcompetent circulation, by merely issuing providently and wrongfully surrendered; their own promissory notes of proper denominations," etc. What was Jefferson's idea of a competent circulation in 1814, may be found in his letter to the President, dated October 11th of that year, in which he sets it down at three hundred millions. While enforcing his views upon the President, he repeats that "the circulating fund is the only one we can ever command with certainty. It is sufficient for all our wants; and the impossibility of even defending the country without its aid as a borrowing fund, renders it indispensable that the nation should take it and keep it in their own hands, as their exclusive resource."

One more extract will complete the series necessary to the illustration of this branch

of the subject. In the letter to Mr. Eppes,

and that it should be recovered without delay. His views, however, were never endorsed by legislation; and in his letter to Mr. Gallatin, above quoted, he regrets the failure to do it in these words: "But, unhappily, the towns of America were considered as the nation of America-the disposition of the former as the disposition of the latter; and the treasury, for want of confidence in the country, delivered itself, bound hand foot, to bold and bankrupt adventurers and pretenders to be money-holders, whom it could have crushed at any moment."

How history is forever repeating itself, and how striking the analogies between the financial phenomena of 1812 and those of 1862!