ar with scientific methods, would have added as "corrections" to
his universal formula. The present world is related to his as any one
triangle is to the triangle absolute. The triangle which is neither
obtuse-angled, nor acute-angled, nor right-angled, neither equilateral
nor isosceles, nor of unequal sides, whose sides and angles are not
confined to any particular measurement, may certainly be a real
triangle and contain no contradiction in itself (which is by no means
the case in Proudhon's realm of justice), but this triangle cannot be
drawn or even imagined. This is the old dispute of nominalists and
realists, a piece of scholasticism long since obsolete applied to the
problems of modern society, and not even worth refutation, least of
all worthy of any man who has once correctly recognised the reality of
human society, and made it the guiding motive of his thought.

On two occasions Proudhon seemed to have the alluring opportunity of
being able to realise his Utopian visions. The first was in the time
of the Revolution. In February, 1849, he founded the People's Bank
(_Banque du Peuple_),[4] which was to take the initiative in free
economic organisation, and, according to Proudhon's expectations,
would have introduced "free society" if, at the decisive moment, he
had not been sent for three years to the prison of Saint Pelagie for a
political offence, and the Bank was therefore compelled to liquidate.
The second opportunity occurred in the year 1855. Napoleon had asked
for opinions as to how the _Palais de l'Industrie_, in which the Paris
Exhibition had been held, could be used after its close as an
institution of public utility. Among those to whom this question was
addressed we find Proudhon, who answered it with the project of a
permanent exhibition,[5] which was to be conducted by a society
proceeding from very much the same point of view as the People's Bank.
This project was, of course, left unnoticed, and Proudhon became
deeply disgusted and discouraged at this new disappointment.

[4] After Proudhon's paper, _Le Representant du Peuple_, had
published the statutes of the Exchange Bank, he tried in
numerous articles to explain the mechanism and necessity of
it. These articles have been collected in a book, and
appeared under the title, _Resume de la Question Sociale,
Banque d'Echange_.

[5] The scheme appeared in Proudhon's posthumous works.

The People's Bank, like its subseq