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Updated: June 29, 2025
The immediate outcome of this incident was the summoning of a council to discuss the financial situation, and after much thought the suggestion of Hagiwara Shigehide, chief of the Treasury, was accepted, namely, wholesale debasement of the gold, silver, and copper coins.
Freebooters came over from Flanders, not to practise the industrial arts as in the time of Henry I, but to take their part in the general pillage. There was frightful scarcity in the country, and the ordinary interchange of man with man was unsettled by the debasement of the coin.
Not in his imprisonment even had he felt such debasement under control as when these lithe creatures hurried him along. Yet he knew then that his rage was not against them, innocent servitors of a higher power. It was against the mean dominance of Weedon Moore. The car passed swiftly on and down the road to town. Then the men left him as suddenly as trained dogs whistled from their prey.
The history of the Past broods like an air over those mighty arches; but Memory can find no reminiscence worthy of the spot. The amphitheatre was not built until history had become a record of the vice and debasement of the human race.
"You and your English," said Godolphin, somewhat bitterly, "prate of the debasement of my poor Italians in a jargon that I confess almost enrages me. They enjoy themselves: they take from life its just moral; they do not affect the more violent crimes; they feel their mortality, follow its common ends, are frivolous, contented, and die! Well; this is debasement. Be it so.
John O'Connell and his immediate followers had so solemnly abjured, denounced and cursed the principles of the great majority with whom they were asked to league, that they could not comply without such a debasement of character as to compel the scorn of all men, not only to themselves, but all those with whom they were united.
Those tribal peoples were constantly engaged in war, killing and shedding blood, burning and pillaging the homes of each other and living in conditions of the utmost debasement and immorality. They were lower and more brutal than the animals. Muḥammad appeared as a Prophet among such a people.
Certainly the issue of our gold coinage, reduced in weight materially below its legal-tender value, would not be any the less a present debasement of the coinage by reason of its equaling, or even exceeding, in weight a gold coinage which at some past time had been commercially equal to the legal-tender value assigned to the new issue.
Psychical powers may be gained by drugs, as poverty, shame, debasement may be gained by the self-same drugs. In their action, they are baneful, cutting the man off from consciousness of the restraining power of his divine nature, so that his forces break forth exuberant, like the laughter of drunkards, and he sees and hears things delusive.
The people themselves become the willing instruments of their own debasement and ruin. Let us, then, look to the great cause, and endeavor to preserve it in full force. Let us by all wise and constitutional measures promote intelligence among the people as the best means of preserving our liberties. Dangers from abroad are not less deserving of attention.
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