Complete Works of Emile Zola (1399 page)

True, during the early years some prudence was observed; wisely enough, houses were only built in proportion as they were required. The population had doubled at one bound, rising from two to four hundred thousand souls, thanks to the arrival of the little world of employees and officials of the public services — all those who live on the State or hope to live on it, without mentioning the idlers and enjoyers of life whom a Court always carries in its train. However, this influx of newcomers was a first cause of intoxication, for every one imagined that the increase would continue, and, in fact, become more and more rapid. And so the city of the day before no longer seemed large enough; it was necessary to make immediate preparations for the morrow’s need by enlarging Rome on all sides. Folks talked, too, of the Paris of the second empire, which had been so extended and transformed into a city of light and health. But unfortunately on the banks of the Tiber there was neither any preconcerted general plan nor any clear-seeing man, master of the situation, supported by powerful financial organisations. And the work, begun by pride, prompted by the ambition of surpassing the Rome of the Caesars and the Popes, the determination to make the eternal, predestined city the queen and centre of the world once more, was completed by speculation, one of those extraordinary gambling frenzies, those tempests which arise, rage, destroy, and carry everything away without premonitory warning or possibility of arresting their course. All at once it was rumoured that land bought at five francs the metre had been sold again for a hundred francs the metre; and thereupon the fever arose — the fever of a nation which is passionately fond of gambling. A flight of speculators descending from North Italy swooped down upon Rome, the noblest and easiest of preys. Those needy, famished mountaineers found spoils for every appetite in that voluptuous South where life is so benign, and the very delights of the climate helped to corrupt and hasten moral gangrene. At first, too; it was merely necessary to stoop; money was to be found by the shovelful among the rubbish of the first districts which were opened up. People who were clever enough to scent the course which the new thoroughfares would take and purchase buildings threatened with demolition increased their capital tenfold in a couple of years. And after that the contagion spread, infecting all classes — the princes, burgesses, petty proprietors, even the shop-keepers, bakers, grocers, and boot-makers; the delirium rising to such a pitch that a mere baker subsequently failed for forty-five millions.* Nothing, indeed, was left but rageful gambling, in which the stakes were millions, whilst the lands and the houses became mere fictions, mere pretexts for stock-exchange operations. And thus the old hereditary pride, which had dreamt of transforming Rome into the capital of the world, was heated to madness by the high fever of speculation — folks buying, and building, and selling without limit, without a pause, even as one might throw shares upon the market as fast and as long as presses can be found to print them.

 * 1,800,000 pounds. See
ante
note. — Trans.

No other city in course of evolution has ever furnished such a spectacle. Nowadays, when one strives to penetrate things one is confounded. The population had increased to five hundred thousand, and then seemingly remained stationary; nevertheless, new districts continued to sprout up more thickly than ever. Yet what folly it was not to wait for a further influx of inhabitants! Why continue piling up accommodation for thousands of families whose advent was uncertain? The only excuse lay in having beforehand propounded the proposition that the third Rome, the triumphant capital of Italy, could not count less than a million souls, and in regarding that proposition as indisputable fact. The people had not come, but they surely would come: no patriot could doubt it without being guilty of treason. And so houses were built and built without a pause, for the half-million citizens who were coming. There was no anxiety as to the date of their arrival; it was sufficient that they should be expected. Inside Rome the companies which had been formed in connection with the new thoroughfares passing through the old, demolished, pestiferous districts, certainly sold or let their house property, and thereby realised large profits. But, as the craze increased, other companies were established for the purpose of erecting yet more and more districts outside Rome — veritable little towns, of which there was no need whatever. Beyond the Porta San Giovanni and the Porta San Lorenzo, suburbs sprang up as by miracle. A town was sketched out over the vast estate of the Villa Ludovisi, from the Porta Pia to the Porta Salaria and even as far as Sant’ Agnese. And then came an attempt to make quite a little city, with church, school, and market, arise all at once on the fields of the Castle of Sant’ Angelo. And it was no question of small dwellings for labourers, modest flats for employees, and others of limited means; no, it was a question of colossal mansions three and four storeys high, displaying uniform and endless facades which made these new excentral quarters quite Babylonian, such districts, indeed, as only capitals endowed with intense life, like Paris and London, could contrive to populate. However, such were the monstrous products of pride and gambling; and what a page of history, what a bitter lesson now that Rome, financially ruined, is further disgraced by that hideous girdle of empty, and, for the most part, uncompleted carcases, whose ruins already strew the grassy streets!

The fatal collapse, the disaster proved a frightful one. Narcisse explained its causes and recounted its phases so clearly that Pierre fully understood. Naturally enough, numerous financial companies had sprouted up: the Immobiliere, the Society d’Edilizia e Construzione, the Fondaria, the Tiberiana, and the Esquilino. Nearly all of them built, erected huge houses, entire streets of them, for purposes of sale; but they also gambled in land, selling plots at large profit to petty speculators, who also dreamt of making large profits amidst the continuous, fictitious rise brought about by the growing fever of agiotage. And the worst was that the petty speculators, the middle-class people, the inexperienced shop-keepers without capital, were crazy enough to build in their turn by borrowing of the banks or applying to the companies which had sold them the land for sufficient cash to enable them to complete their structures. As a general rule, to avoid the loss of everything, the companies were one day compelled to take back both land and buildings, incomplete though the latter might be, and from the congestion which resulted they were bound to perish. If the expected million of people had arrived to occupy the dwellings prepared for them the gains would have been fabulous, and in ten years Rome might have become one of the most flourishing capitals of the world. But the people did not come, and the dwellings remained empty. Moreover, the buildings erected by the companies were too large and costly for the average investor inclined to put his money into house property. Heredity had acted, the builders had planned things on too huge a scale, raising a series of magnificent piles whose purpose was to dwarf those of all other ages; but, as it happened, they were fated to remain lifeless and deserted, testifying with wondrous eloquence to the impotence of pride.

So there was no private capital that dared or could take the place of that of the companies. Elsewhere, in Paris for instance, new districts have been erected and embellishments have been carried out with the capital of the country — the money saved by dint of thrift. But in Rome all was built on the credit system, either by means of bills of exchange at ninety days, or — and this was chiefly the case — by borrowing money abroad. The huge sum sunk in these enterprises is estimated at a milliard, four-fifths of which was French money. The bankers did everything; the French ones lent to the Italian bankers at 3 1-2 or 4 per cent.; and the Italian bankers accommodated the speculators, the Roman builders, at 6, 7, and even 8 per cent. And thus the disaster was great indeed when France, learning of Italy’s alliance with Germany, withdrew her 800,000,000 francs in less than two years. The Italian banks were drained of their specie, and the land and building companies, being likewise compelled to reimburse their loans, were compelled to apply to the banks of issue, those privileged to issue notes. At the same time they intimidated the Government, threatening to stop all work and throw 40,000 artisans and labourers starving on the pavement of Rome if it did not compel the banks of issue to lend them the five or six millions of paper which they needed. And this the Government at last did, appalled by the possibility of universal bankruptcy. Naturally, however, the five or six millions could not be paid back at maturity, as the newly built houses found neither purchasers nor tenants; and so the great fall began, and continued with a rush, heaping ruin upon ruin. The petty speculators fell on the builders, the builders on the land companies, the land companies on the banks of issue, and the latter on the public credit, ruining the nation. And that was how a mere municipal crisis became a frightful disaster: a whole milliard sunk to no purpose, Rome disfigured, littered with the ruins of the gaping and empty dwellings which had been prepared for the five or six hundred thousand inhabitants for whom the city yet waits in vain!

Moreover, in the breeze of glory which swept by, the state itself took a colossal view of things. It was a question of at once making Italy triumphant and perfect, of accomplishing in five and twenty years what other nations have required centuries to effect. So there was feverish activity and a prodigious outlay on canals, ports, roads, railway lines, and improvements in all the great cities. Directly after the alliance with Germany, moreover, the military and naval estimates began to devour millions to no purpose. And the ever growing financial requirements were simply met by the issue of paper, by a fresh loan each succeeding year. In Rome alone, too, the building of the Ministry of War cost ten millions, that of the Ministry of Finances fifteen, whilst a hundred was spent on the yet unfinished quays, and two hundred and fifty were sunk on works of defence around the city. And all this was a flare of the old hereditary pride, springing from that soil whose sap can only blossom in extravagant projects; the determination to dazzle and conquer the world which comes as soon as one has climbed to the Capitol, even though one’s feet rest amidst the accumulated dust of all the forms of human power which have there crumbled one above the other.

“And, my dear friend,” continued Narcisse, “if I could go into all the stories that are current, that are whispered here and there, you would be stupefied at the insanity which overcame the whole city amidst the terrible fever to which the gambling passion gave rise. Folks of small account, and fools and ignorant people were not the only ones to be ruined; nearly all the Roman nobles lost their ancient fortunes, their gold and their palaces and their galleries of masterpieces, which they owed to the munificence of the popes. The colossal wealth which it had taken centuries of nepotism to pile up in the hands of a few melted away like wax, in less than ten years, in the levelling fire of modern speculation.” Then, forgetting that he was speaking to a priest, he went on to relate one of the whispered stories to which he had alluded: “There’s our good friend Dario, Prince Boccanera, the last of the name, reduced to live on the crumbs which fall to him from his uncle the Cardinal, who has little beyond his stipend left him. Well, Dario would be a rich man had it not been for that extraordinary affair of the Villa Montefiori. You have heard of it, no doubt; how Prince Onofrio, Dario’s father, speculated, sold the villa grounds for ten millions, then bought them back and built on them, and how, at last, not only the ten millions were lost, but also all that remained of the once colossal fortune of the Boccaneras. What you haven’t been told, however, is the secret part which Count Prada — our Contessina’s husband — played in the affair. He was the lover of Princess Boccanera, the beautiful Flavia Montefiori, who had brought the villa as dowry to the old Prince. She was a very fine woman, much younger than her husband, and it is positively said that it was through her that Prada mastered the Prince — for she held her old doting husband at arm’s length whenever he hesitated to give a signature or go farther into the affair of which he scented the danger. And in all this Prada gained the millions which he now spends, while as for the beautiful Flavia, you are aware, no doubt, that she saved a little fortune from the wreck and bought herself a second and much younger husband, whom she turned into a Marquis Montefiori. In the whole affair the only victim is our good friend Dario, who is absolutely ruined, and wishes to marry his cousin, who is as poor as himself. It’s true that she’s determined to have him, and that it’s impossible for him not to reciprocate her love. But for that he would have already married some American girl with a dowry of millions, like so many of the ruined princes, on the verge of starvation, have done; that is, unless the Cardinal and Donna Serafina had opposed such a match, which would not have been surprising, proud and stubborn as they are, anxious to preserve the purity of their old Roman blood. However, let us hope that Dario and the exquisite Benedetta will some day be happy together.”

Narcisse paused; but, after taking a few steps in silence, he added in a lower tone: “I’ve a relative who picked up nearly three millions in that Villa Montefiori affair. Ah! I regret that I wasn’t here in those heroic days of speculation. It must have been very amusing; and what strokes there were for a man of self-possession to make!”

However, all at once, as he raised his head, he saw before him the Quartiere dei Prati — the new district of the castle fields; and his face thereupon changed: he again became an artist, indignant with the modern abominations with which old Rome had been disfigured. His eyes paled, and a curl of his lips expressed the bitter disdain of a dreamer whose passion for the vanished centuries was sorely hurt: “Look, look at it all!” he exclaimed. “To think of it, in the city of Augustus, the city of Leo X, the city of eternal power and eternal beauty!”