richer than they are. If these resources were everywhere saved as they
are in France, the progress of the world would be quicker, and the
new countries would more easily find in Europe and in themselves
the capital necessary for their development. At all events, our age
develops fast, and notwithstanding all this waste, abounds in a plenty
that is enough to keep men from fearing the growth of this wanton
luxury and from planning to restrain it by laws. In the ancient world,
on the other hand, the wealthy classes and the state had only to
abandon themselves a little too much to the prodigality that for us
has become almost a regular thing, when suddenly means were wanting to
meet the most essential needs of social life. Tacitus has summarised
an interesting discourse of Tiberius, in which the famous emperor
censures the ladies of Rome in terms cold, incisive, and succinct,
because they spend too much money on pearls and diamonds. "Our money,"
said Tiberius, "goes away to India and we are in want of the precious
metals to carry on the military administration; we have to give up
the defence of the frontiers." According to the opinion of an
administrator so sagacious and a general so valiant as Tiberius, in
the richest period of the Roman Empire, a lady of Rome could not buy
pearls and diamonds without directly weakening the defence of the
frontiers. Indulgence in the luxury of jewels looked almost like high
treason.

Similar observations might be made on another grave question--the
increase of population. One of the most serious effects of
individualism that accompanies the increase of civilisation and
wealth, is the decrease of the birth-rate. France, which knows how to
temper its luxury, which gives to other peoples an example of saving
means for the future, has on the other hand given the example of
egoism in the family, lowering the birth-rate. England, for a long