League fruitless, and absolutely make
the Chartists forget the Charter.

"My friends will not assist themselves by resisting the government
measures," said Mr. Neuchatel, with his usual calm smile, half
sceptical, half sympathetic. "The measures will do no good, but they
will do no harm. There are no measures that will do any good at this
moment. We do not want measures; what we want is a new channel."

That is exactly what was wanted. There was abundant capital in the
country and a mass of unemployed labour. But the markets on which they
had of late depended, the American especially, were overworked and
overstocked, and in some instances were not only overstocked, but
disturbed by war, as the Chinese, for example--and capital and labour
wanted "a new channel."

The new channel came, and all the persons of authority, alike political
and commercial, seemed quite surprised that it had arrived; but when
a thing or a man is wanted, they generally appear. One or two lines of
railway, which had been long sleepily in formation, about this time were
finished, and one or two lines of railway, which had been finished for
some time and were unnoticed, announced dividends, and not contemptible
ones. Suddenly there was a general feeling in the country, that its
capital should be invested in railways; that the whole surface of the
land should be transformed, and covered, as by a network, with these
mighty means of communication. When the passions of the English,
naturally an enthusiastic people, are excited on a subject of finance,
their will, their determination, and resource, are irresistible. This
was signally proved in the present instance, for they never ceased
subscribing their capital until the sum entrusted to this new form of
investment reached an amount almost equal to the national debt; and this
too in a very few years. The immediate effect on the condition of the
country was absolutely prodigious. The value of land rose, all the blast
furnaces were relit, a stimulant was given to every branch of the home
trade, the amount suddenly paid in wages exceeded that ever known
in this country, and wages too at a high rate. Large portions of the
labouring classes not only enjoyed comfort, but commanded luxury.
All this of course soon acted on the revenue, and both customs and
especially excise soon furnished an ample surplus.

It cannot be pretended that all this energy and enterprise were free in
their operation from those e