Part 5

But the most absurd and preposterous of all, and which showed, more completely than any other, the utter madness of the people, was one started by an unknown adventurer, entitled "_A Company for carrying on an Undertaking of Great Advantage, but Nobody to know What It Is_." Were not the facts stated by scores of credible witnesses, it would be impossible to believe that any person could have been duped by such a project. The man of genius who essayed this bold and successful inroad upon public credulity merely stated in his prospectus that the required capital was half a million, in five thousand shares of one hundred pounds each, deposit two pounds per share. Each subscriber paying his deposit would be entitled to one hundred pounds per annum per share. How this immense profit was to be obtained he did not condescend to inform them at that time, but promised that in a month full particulars should be duly announced, and a call made for the remaining ninety-eight pounds of the subscription. Next morning, at nine o'clock, this great man opened an office in Cornhill. Crowds of people beset his door, and when he shut up, at three o'clock, he found that no less than one thousand shares had been subscribed for and the deposits paid. He was thus, in five hours, the winner of two thousand pounds. He was philosopher enough to be contented with his venture, and set off the same evening for the Continent. He was never heard of again.

It is time, however, to return to the great South Sea gulf, that swallowed the fortunes of so many thousands of the avaricious and the credulous. On May 29th the stock had risen as high as 500, and about two-thirds of the government annuitants had exchanged the securities of the state for those of the South Sea Company. During the whole of the month of May the stock continued to rise, and on the 28th it was quoted at 550. In four days after this it took a prodigious leap, rising suddenly from 550 to 890. It was now the general opinion that the stock could rise no higher, and many persons took that opportunity of selling out, with a view of realizing their profits. Many noblemen and persons in the train of the King, and about to accompany him to Hanover, were also anxious to sell out. So many sellers and so few buyers appeared in the alley on June 3d that the stock fell at once from 890 to 640. The directors were alarmed and gave their agents orders to buy. Their efforts succeeded. Toward evening confidence was restored, and the stock advanced to 750. It continued at this price with some slight fluctuation, until the company closed its books on June 22d.

It would be needless and uninteresting to detail the various arts employed by the directors to keep up the price of stock. It will be sufficient to state that it finally rose to 1000 per cent. It was quoted at this price in the commencement of August. The bubble was then full-blown and began to quiver and shake preparatory to its bursting.

Many of the government annuitants expressed dissatisfaction against the directors. They accused them of partiality in making out the lists for shares in each subscription. Further uneasiness was occasioned by its being generally known that Sir John Blunt, the chairman, and some others had sold out. During the whole of the month of August the stock fell, and on September 2d it was quoted at 700 only.

Day after day it continued to fall, until it was as low as 400. In a letter dated September 13th, from Mr. Broderick, M.P., to Lord Chancellor Middleton, and published in Coxe's _Walpole_, the former says: "Various are the conjectures why the South Sea directors have suffered the cloud to break so early. I made no doubt but they would do so when they found it to their advantage. They have stretched credit so far beyond what it would bear that specie proves insufficient to support it. Their most considerable men have drawn out, securing themselves by the losses of the deluded, thoughtless numbers, whose understandings have been overruled by avarice and the hope of making mountains out of mole-hills. Thousands of families will be reduced to beggary. The consternation is inexpressible--the rage beyond description, and the case altogether so desperate that I do not see any plan or scheme so much as thought of for averting the blow; so that I cannot pretend to guess what is next to be done." Ten days afterward, the stock still falling, he writes: "The company have yet come to no determination, for they are in such a wood that they know not which way to turn. By several gentlemen lately come to town, I perceive the very name of a South Sea man grown abominable in every country. A great many goldsmiths are already run off, and more will; daily I question whether one-third, nay, one-fourth, of them can stand it."

At a general court of the Bank of England, held soon afterward, the governor informed them of the several meetings that had been held on the affairs of the South Sea Company, adding that the directors had not yet thought fit to come to any decision upon the matter. A resolution was then proposed, and carried without a dissentient voice, empowering the directors to agree with those of the South Sea to circulate their bonds to what sum and upon what terms and for what time they might think proper. Thus both parties were at liberty to act as they might judge best for the public interest.

Books were opened at the bank for subscription of three millions for the support of public credit, on the usual terms of 15 pounds per cent. deposit, 3 pounds per cent. premium, and 5 pounds per cent. interest. So great was the concourse of people in the early part of the morning, all eagerly bringing their money, that it was thought the subscription would be filled that day; but before noon the tide turned. In spite of all that could be done to prevent it, the South Sea Company's stock fell rapidly. Its bonds were in such discredit that a run commenced upon the most eminent goldsmiths and bankers, some of whom, having lent out great sums upon South Sea stock, were obliged to shut up their shops and abscond. The Sword-blade Company, which had hitherto been the chief casher of the South Sea Company, stopped payment. This, being looked upon as but the beginning of evil, occasioned a great run upon the bank, which was now obliged to pay out money much faster than it had received it upon the subscription in the morning. The day succeeding was a holiday (September 29th), and the bank had a little breathing-time. It bore up against the storm; but its former rival, the South Sea Company, was wrecked upon it. Its stock fell to 150, and gradually, after various fluctuations, to 135.

The bank, finding it was not able to restore public confidence and stem the tide of ruin, without running the risk of being swept away, with those it intended to save, declined to carry out the agreement into which it had partially entered. "And thus," to use the words of the _Parliamentary History_, "were seen, in the space of eight months, the rise, progress, and fall of that mighty fabric, which, being wound up by mysterious springs to a wonderful height, had fixed the eyes and expectations of all Europe, but whose foundations, being fraud, illusion, credulity, and infatuation, fell to the ground as soon as the artful management of its directors was discovered."

BACH LAYS THE FOUNDATION OF MODERN MUSIC

A.D. 1723

HENRY TIPPER

Our first recognized triumph in the marvellous modern development of music, the first great masterpiece which taught the world the beauty of which the art is capable, was Bach's _Das Wohltemperirte Clavier_. The production marks, therefore, "the first great climax of musical art."

Like the other arts and sciences, the story of music is that of a slow building up. Music "divinest of arts, exactest of sciences"--for music is both an art and a science--has developed from the crude two-or three-note scale melody, without semitones, to the elaborate, ornate lucubrations of the modern oratorio, opera, or symphony. From the beginning the "half-sister of Poetry" has been the handmaid of Religion. The ancients ascribed miraculous properties to music. Of the actual system of the Egyptians our information is very scant; but we learn from the monuments depicting the number and variety of their instruments that they had advanced from childish practice to orchestration and harmony. According to Plato, "In their possession are songs having the power to exalt and ennoble mankind." The harp is undoubtedly of Egyptian origin.

In Israel plastic art was discouraged; the natural emotion of the people was, therefore, expressed in poetry and music. Miriam, the daughter of Jephthah, Deborah, and later the Virgin, whose grand chant, the _Magnificat_, is ever being upraised from Christendom's heart, portray the deep emotional temperament of this great religious race.

The artistic standard of the music of the Greeks was far behind that of their observation and intelligence in other matters. Their theories on the combinations, of which they never made use, and analysis of their scales show much ingenuity, but their accounts are so vague that one cannot get any clear idea of what these were really like. When art is mature, people do not tell of city walls being overthrown, of savage animals being tamed--as run the stories of Orpheus and Amphion. One Greek there was, Pythagoras, who discerned the association between the distant music of the spheres with the seven notes of the scale. "He discovered the numerical relation of one tone to another."[28] It was about the time of Pythagoras that a scheme of tetrachords which did not overlap was adopted.

In Persia and Arabia was obtained a perfect system of intonation. The Chinese system is minutely exact in theory, bombastic in fancy. The Hindus sedulously avoided applying mathematics to their scales. The development of the scale is shown in the construction of the ancient Greek scale, the modern Japanese, and the aboriginal Australian scale, and the phonographed tunes of some of the Red Indians of North America. Here a reference must be made to the scale of the Scotch bagpipe, a highly artificial product, without historical materials available to assist in unravelling its development. It comprises a whole diatonic series of notes, and modes may be selected therefrom.

But it is to Rome that we owe the seed of our modern methods of treatment. The Netherland school had been highly developed there by a long line of distinguished masters, who paved the way for the gifted Palestrina, who exalted polyphony to a secure eminence equal to that attained by the arts of painting and architecture. He brought forth a perception of the needs which music suffered, adding an earnestness and science to a profound quality of simpleness and grace. It was between 1561 and 1571 that his genius mellowed and his style took on those characteristics upon which was based the future music of the Catholic Church. It was while he was Maestro at the Vatican that he submitted to the Church the famed _Missa Papæ Marcelli_, which determined the future of church music.

The culmination of art in music is strikingly shown in the subjoined article from the pen of that great authority, Mr. H. Tipper.

The first tonal prophet and poet of the modern era, the era in which reason made tremendous protest against mere dogma, and the best religious instincts of human nature called imperatively for emancipation and for nearer individual contact with God, is Johann Sebastian Bach. We look dazzled at the brilliant victories of the Italian Renaissance, and amid tumultuous beauty run riot with imagination we hear the voice of Savonarola at the close of the period uttering his lamentations. The great Italian reformer saw and felt that in his own day and in his own country the glory and beauty of the movement had vanished in sensuality; that hardness of heart and indifference to primary human needs had diverted the waters of the Renaissance from their main fertilizing channel.

The deep need of the epoch was social, not mental, sociality in its widest sense: the right of the individual; his inherent majesty, which the accident of birth should not be able to impair--this and this only was the natural outcome of the new birth which came to humanity; this and this only was the sequel which German profundity and integrity, not Italian brilliancy and carelessness, placed before the mind of Europe.

The Reformation, then, this Protestantism, is distinctive of the new era. It was a protest, not only religious, as the word is usually applied, but scientific. It is the basis in the modern Western world of those laws of criticism which have submitted, or will submit, everything to searching analytical investigation, and as in the case of the natural world, so in the moral and ethical, men, by the light of revealed truth, or by those higher instincts of nobility which emanate from the Eternal Love, seek to apply to the reformation of society those principles of love, justice, and recompense which each would wish applied individually to self.

As an inspirer of thought and man of action, the world has seen few such men as Luther. His genius, as it were, discovered and laid bare the inexhaustible treasures of the German language; his sympathy and genial humanity sent a thrill of song, poetical and tonal, throughout the fatherland. He was the great awakener of German emotion. To Luther, a man who cared not for song was without the pale of humanity. But his enthusiasm was practical. In the church, as we have seen, he gathered from all sources whatever was of the best, and gave it to the people. In the schools he advocated the cause of song. In the streets the people needed not advocacy. Wherever two or three gathered together, song was in the midst of them, and it is not too much to say that the Lutheran hymn was the saviour of German poetry and a font of German song. In the seventeenth century there was in Germany little poetry worthy of the name save that inspired by the devotional character of Luther's genius. His heir and successor in the realm of tone was Sebastian Bach.

True, two centuries had elapsed between the death of the great reformer in morals and the birth of the great reformer in tone; but the work of the latter could not have been without the former. The chorale was introduced by Luther; it was perfected by Bach. To what other influence than the Lutheran can we attribute the growth of Bach? Are there any other resources of German art and thought which can account for the advent of the great musician? In art Duerer stood by the side of Luther. In him again we find a man. Thought, thought! help me to express my native thought. Teach me to express in my art the reality of Nature, its wonderful beauty, thrice beautiful to me an artist; the pathos of life, its realism, far apparently from the ideal, yet most precious to me as a man. This was the aim of Duerer, and he seems a man after the Lutheran mould.

The aim of Duerer may be found in some respects in Bach's work, because both men were men of integrity, great and patient in soul. This, of course, is not to say that Bach was affected by Duerer, but is merely an endeavor to find what was noblest in Germany preceding Bach. One more allusion. In Bach's art we trace the mystic; not shadowy outpourings of hysterical emotion, but beauties of eternal verities disclosed in vision--faint, it is true--to none save the noblest of mortals.

One such kindred spirit preceding Bach was Boehme, the father of German mysticism, the poor cobbler, whose soul lay far away in the regions of celestial love, and whose utterance is of the realities thereof. These three men, Luther, Duerer, Boehme, are those to whom the great musician Bach is akin, but he is truly the child of the former, and the father of the highest aspirations in instrumental music.

For confirmatory evidence we have only to trace the growth of the Bach family. The progenitor, Veit Bach, was born at Wechmar, near Gotha, in 1550, and, following his trade as a baker, settled, after considerable wanderings, near the Hungarian frontier. Veit Bach was a stanch Lutheran. Whether the Lutheran services had given him a love of music, or whether they had only quickened a constitutional sympathy, it is impossible to say. Certain it is that he was passionately fond of music, and, cast for a period among a population whose emotions found constant and ready utterance in tone, he brought back to Wechmar, whither he had returned on account of religious persecution, his beloved cythringa and the art of playing it. There is evidence that this knowledge afforded him consolation and enjoyment in the quiet monotony of his life. While the mill was working, Veit Bach was often playing; and doubtless the peculiar charm and rhythm of old Hungarian melodies, songs of the people, which he had learned from the wandering gypsies, recurred to him, as well as those grand devotional hymns on which he had been nourished from childhood. We have said that Veit Bach was a stanch Lutheran. From father to son through generations, the Lutheran doctrine, pure and undefiled, had been handed down, accompanied by the musical gift, until both, uniting in Sebastian Bach, born at Eisenach in 1685, served to glorify the Lutheran chorale and the art which perfected it.

Again, the traditions of the great reformer must have been imbibed by Sebastian Bach from infancy. Surrounding his native town lay a circle of wooded heights, from one of which arose the Wartburg, that illustrious shrine of the German nation whither in mediæval and modern times her sons have repaired to exhibit and replenish their lamp of genius. There the minnesingers had gathered in contest a song; thither as a modern Elijah came the great monk, weary of soul, yet whose immortal genius unfolded the page of Sacred Writ; and down the wood-clad slope came issuing the melody of the Hebrew psalmist, translated into German speech and entering into German hearts, mingled with the narrative of the Redeemer's passion lit by awful and solemn glory of Eternal Love. Who shall say that young Bach knew not of these things? Who will contend that, when his genius matured and ripened, the immortal tones in which the eternal passion was portrayed owed nothing to this sympathy of association, this spiritual life with the great reformer born two centuries before?

Yet once more. The Bach family was full of affection and sympathy one toward the other. Each year witnessed a reunion of the various members of the family scattered throughout Thuringia, and each came bearing the gift of music. As a child among the elders we can imagine how the young Sebastian revered his uncles, Johann Christopher and Michael Sebastian, in whom were conserved and developed the Lutheran tonal principles and traditions; how he somewhat feared the austere character of his elder brother, Johann Christopher, to whose charge he was intrusted upon the death of his father.

But we need not imagine how the soul of the young boy was filled with inexpressible yearning for the art of music. We know that it was so. His brother, who instructed him, gauged not the nature of the lad. Often and often did the boy's wistful eyes and loving heart covet the possession of a manuscript book kept by his brother in strict reserve, containing a priceless collection of compositions by the great German masters and mediators. The boy extracted them from their resting-place, and we see the young tone-prophet striving to master the art-forms of Reinken, Buxtehude, Frescobaldi, Kerl, Froberger, and Pachelbel, endeavoring to wrest from them their style and inmost meaning by the light of the moon's pale rays, which led, alas! in after-years to blindness.

What revelations came to the soul of the young musician we know not. But his genius thus directed knew no pause until it had won forever the freedom of the tonal art, until the last fetter of conventionality had been removed, until in all dignity and beauty music came forth, henceforth to comfort and solace the human heart. But of this anon. We trace the young boy to school; we see him a chorister in the choir of St. Michael's, Lueneburg. Here he entered the gymnasium, studying Greek and Latin, organ-and violin-playing. Here, too, he exhausted the treasures of the musical library. But at Hamburg the great Reinken was giving a series of organ recitals. Thither young Bach repaired. At Celle he became acquainted with several suites and other compositions of celebrated French masters. In 1703 he became violinist in the Saxe-Weimar orchestra, and in the same year, aged eighteen, he was appointed organist at the new church at Arnstadt, where other members of his family had held similar positions. Thus already we have ample evidence both of intense activity and catholicity of taste, and now, a mere youth, he enters upon his life-work: the perfecting of church music, especially the chorale form, and the emancipation of the art from any influence whatsoever other than derives from contact with nature and emotion. If we ask what equipment he had for his task, we answer: enthusiasm, so deep, so tempered in all its qualities, that, though in a few years he became the ablest performer of his time upon the harpsichord and organ, yet never once is the term "virtuoso" associated in our thought with the purity of aspiration which characterized him. His enthusiasm was religious, deep-seated, his vision far and wide, and no temporary triumph, no sunlit cloud of fame, could satisfy the imperative needs of his inmost nature. And this nature was calm, with the calmness of strength and with that tender purity and homely virtue which characterized the surroundings of his boyhood.

This enthusiasm, this religious instinct, for what was noblest and best, led him early, as we have seen, to seek inspiration from the works of men who combined in their compositions all that the great previously existing schools had taught. Bach was never weary of learning if perchance he could attain a more lucid or more beautiful expression of his thought. We have, then, this enthusiasm, this capacity for at once discerning what was best. Add to it one more quality--the religious, in its best sense, which young Bach possessed to the uttermost, the feeling that his art was but the medium of expression for the deep things of God--and we have the equipment with which the young musician started on his quest.