“If gold here figures as the demon strangling manhood's innocence, our greatest poet shews at last the goblin's game of paper money. The Nibelung's fateful ring become a pocket-book, might well complete the eerie picture of the spectral world-controller.”
Know Thyself (1881)
Context: Clever though be the many thoughts expressed by mouth or pen about the invention of money and its enormous value as a civiliser, against such praises should be set the curse to which it has always been doomed in song and legend. If gold here figures as the demon strangling manhood's innocence, our greatest poet shews at last the goblin's game of paper money. The Nibelung's fateful ring become a pocket-book, might well complete the eerie picture of the spectral world-controller. By the advocates of our Progressive Civilisation this rulership is indeed regarded as a spiritual, nay, a moral power; for vanished Faith is now replaced by "Credit," that fiction of our mutual honesty kept upright by the most elaborate safeguards against loss and trickery. What comes to pass beneath the benedictions of this Credit we now are witnessing, and seem inclined to lay all blame upon the Jews. They certainly are virtuosi in an art which we but bungle: only, the coinage of money out of nil was invented by our Civilisation itself; or if the Jews are blamable for that, it is because our entire civilisation is a barbaro-judaic medley, in nowise a Christian creation.
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Richard Wagner 39
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