the
part of the public,--on the contrary, it needs an effort of the public
to be rid of notes once issued; but deposit banking cannot be begun by
the banker, and requires a spontaneous and consistent effort in the
community: and therefore paper issue is the natural prelude to
deposit banking.

JENS BAGGESEN

(1764-1826)

Jens Baggesen was born in the little Danish town Korsoer in 1764, and
died in exile in the year 1826. Thus he belonged to two centuries and to
two literary periods. He had reached manhood when the French Revolution
broke out; he witnessed Napoleon's rise, his victories, and his fall. He
was a full contemporary of Goethe, who survived him only six years; he
saw English literature glory in men like Byron and Moore, and lived to
hear of Byron's death in Greece. In his first works he stood a true
representative of the culture and literature of the eighteenth century,
and was hailed as its exponent by the Danish poet Herman Wessel; towards
the end of the century he was acknowledged to be the greatest of living
Danish poets. Then with the new age came the Norwegian, Henrik Steffens,
with his enthusiastic lectures on German romanticism, calling out the
genius of Oehlenschlaeger, and the eighteenth century was doomed;
Baggesen nevertheless greeted Oehlenschlaeger with sincere admiration,
and when the 'Aladdin' of that poet appeared, Baggesen sent him his
rhymed letter 'From Nureddin-Baggesen to Aladdin-Oehlenschlaeger.'

[Illustration: Jens Baggesen.]

Baggesen was the son of poor people, and strangers helped him to his
scientific education. When his first works were recognized he became the
friend and protege of the Duke of Augustenborg, who provided him with
the means for an extended journey through the Continent, during which he
met the greatest men of his time. The Duke of Augustenborg meanwhile
secured him several positions, which could not hold him for any length
of time, nor keep him at home in Denmark. He went abroad a second time
to study pedagogics, literature, and philosophy, came home again,
wandered forth once more, returned a widower, was for some time director
of the National Theatre in Copenhagen; but found no rest, married again,
and in 1800 went to France to live. Eleven years later he was professor
in Kiel, returning thence to Copenhagen, where meanwhile his fame had
been eclipsed by the genius of Oehlenschlaeger. Secure in the knowledge
of his powers, Oehlenschlaeger had carel