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11. The price of higher expected return is greater anticipated risk.
True False

2
12. The efficient market hypothesis states that every security at every point in time is fairly priced.
True False
13. Understanding a person's incentives goes a long way to predicting their behavior.
True False
14. Difficult decisions with a high degree of uncertainty are less likely to be influenced by emotions and
feelings.
True False
15. The efficient market hypothesis is consistent with the observation that security prices are sometimes, but
only rarely, too low (undervalued) or too high (overvalued).
True False
16. On average, return on equity consistently falls in the range from 20%-22% per year for the broad
cross-section of businesses in the United States.
True False
17. A plain text report of quarterly accounting earnings information is provided on the Schedule 10K report
True False
18. EDGAR is a for profit company that specializes in providing investor access to SEC reports and filings.
True False
19. Schedule 13D filings are made to the SEC within 10 days of an entity attaining a 5% or more position of
a company's stock.
True False
20. SEC Form 144 filings must only be submitted by holders of restricted securities, sometimes called letter
stock, after they have sold such shares to the general public.
True False
21. The present value of a future sum will rise with a fall in the:
A. interest rate.
B. investment period.
C. future sum.
D. none of these.
22. Using annual compounding, what is the present value of a $39,703 sum to be received in 16 years when
a 9% rate of return can be earned on investment?
A. $9,406.
B. $10,000.
C. $5,000.
D. $157,633.

3
23. Over a 36-year period, an investment growing at 12% compounds to a final value that is:
A. twice that of an investment growing at 6%.
B. four times that of an investment growing at 6%.
C. six times that of an investment growing at 6%.
D. sixteen times that an investment growing at 4%.
24. Since World War II, stock investors have outperformed bond investors by about:
A. 6% per year.
B. 12% per year.
C. 3% per year.
D. 1% per year.
25. Since World War II, investors in a 50/50 mix of stocks and bonds have earned a nominal return before
taxes of roughly:
A. 14% per year.
B. 9% per year.
C. 6% per year.
D. 3% per year.
26. Under a defined-benefit retirement plan, employees are promised:
A. a fixed lump sum amount at retirement.
B. employer matching of employee retirement plan contributions.
C. a variable amount at retirement, depending upon retirement plan performance.
D. a fixed retirement income.
27. Portfolio theory tells us that diversification has the potential to:
A. increase anticipated risk for a given expected return.
B. reduce expected return for a given anticipated risk.
C. reduce anticipated risk for a given expected return.
D. reduce transaction costs.
28. Financial theory is useful because it is:
A. able to predict stock and bond prices.
B. logical.
C. mathematically rigorous.
D. derived from economic principles.
29. A stock broker may improperly buy and sell the securities in a customer's account to generate
commissions. This is known as .
A. enhancement
B. insider trading
C. indexing
D. churning
30. Annual accounting information is filed with the SEC on the:
A. 10K report.
B. 10Q report.
C. 13D report.
D. Form 144.

4
31. Under a defined-contribution retirement plan, individual employees are paid a retirement income based
upon the:
A. number of years of service.
B. employee's final year's salary and years of service.
C. employee's retirement plan contributions.
D. total value accumulated in their retirement portfolio.
32. Advisors that help clients with asset allocation, investment goals, insurance needs, tax and estate
planning are called .
A. investment bankers
B. stock brokers
C. financial planners
D. financial analysts
33. Annual compounding at 10% results in the same future value as a continuously compounded interest rate
that is:
A. more than 10%.
B. less than 10%.
C. equal to 10%.
D. none of these.
34. At a 6% annual rate of return, the present value of a of $100,000 per year payment in perpetuity is
roughly:
A. $6,000.
B. $1.67 million.
C. $1 million.
D. $167,000.
35. The short-term bond investor has an advantage over long-term stock investors in terms of:
A. return stability.
B. total expected return.
C. total realized return.
D. total nominal return.
36. When investing to pay for a child's college education, the disadvantage of a small initial investment can
be offset by:
A. use of continuous compounding.
B. an extended investment horizon.
C. broad diversification among stocks and bonds.
D. use of annual compounding.
37. If risk-free U. S. Treasury bills yield 6% interest, similar government bonds that yield more than 6% per
year have an:
A. intermediate-term to maturity.
B. long-term to maturity.
C. short-term to maturity.
D. none of these.

5
38. The efficient market hypothesis is consistent with the observation that:
A. security prices are rarely too high.
B. most professional investors beat the market.
C. some individual investors beat the market.
D. market psychology determines stock prices.
39. Regression to the mean implies that:
A. industry profits follow a random walk.
B. firm profits follow a random walk.
C. economy-wide profits follow a random walk.
D. none of these.
40. A P/E of 20 implies that the firm has five cents in earnings for each dollar of:
A. stockholders' equity.
B. book value.
C. market value.
D. sales.
41. Which among the following is not consistent with the regression to the mean concept?
A. persistent rates of return on stockholders' equity that average 20% per year.
B. over the long run, investing larger amounts of capital tends to drive down the rate of profit per dollar
invested.
C. low-profit firms see their profit rate rise over time as investors redeploy funds to other more
profitable uses.
D. the normal rate of return concept.
42. At a 6% annual rate of return, a perpetuity of $10,000 per month has a present value of:
A. $120,000.
B. $1 million.
C. $2 million.
D. $16.7 million.
43. The Efficient Markets Hypothesis is consistent with the notion that:
A. every security is always fairly priced.
B. the average professional investor will underperform the market before expenses.
C. some securities are overvalued.
D. some securities are undervalued.
44. The return on equity:
A. measures long-term stock-market rates of return.
B. falls with a rise in financial leverage.
C. is the ratio of net income divided by book value per share.
D. rises with a decline in operating leverage.
45. $10,000 invested for 20 years and earning 12% per year will accumulate approximately as
much as if invested at a 6% rate of return.
A. twice
B. three times
C. four times
D. half

6
46. Who is responsible for making investment decisions and contributing to a defined contribution plan?
A. employee
B. government
C. Pension Benefit Guarantee Corporation
D. employee
47. Warren Buffett seeks to buy firms that
A. have a low P/E ratio
B. have consistently low return on equity
C. are rapidly growing
D. all of the above
48. Finance professionals who work with individual investors and institutions in advising and executing
orders for individual common stocks or bonds are called:
A. brokers.
B. portfolio managers.
C. analysts.
D. certified financial planners.
49. Finance professionals primarily involved with the distribution of securities from issuing corporations to
the general public are called:
A. security analysts.
B. technicians.
C. investment bankers.
D. chief financial officers.
50. Comprehensive information about insider stock holdings is available on the:
A. proxy statement.
B. 13D.
C. 10Q.
D. 144 report.
51. A trusted source of SEC report information on the Internet:
A. is EDGAR.
B. is the reporting company.
C. are various Internet news organizations.
D. are message boards.
52. High insider net buy activity reported on 13D filings is:
A. bearish.
B. evidence of illegal corporate activity.
C. bullish.
D. none of these.
53. EDGAR is:
A. a nonprofit news organization.
B. a government agency.
C. an arm of the Securities and Exchange Commission.
D. a for-profit corporation.

7
54. Reports submitted to the SEC by holders of restricted stock who intend to sell shares are called:
A. Form 144 filings.
B. 10K reports.
C. proxy statements.
D. 13D reports.
55. An initial 13D filing would typically be regarded as:
A. bearish.
B. evidence of illegal corporate activity.
C. bullish.
D. none of these.
56. Suppose you want to buy a house. If you invest $12,000 in a bank account that pays 6% interest per year,
how much will you have for a down payment in 7 years?

57. Assume that you expect to inherit $100,000 in 10 years. What is the present value of that future
$100,000 given a 4% annual interest rate (compounded annually)?

58. Home Depot's common stock rose from a split-adjusted price of $9.07 in March of 1995 to a price of
$39.92 in February of 2005. Over this ten-year period, what was the compound annual rate of return
earned by Home Depot shareholders?

8
59. What rate of return is needed to double your investment in 10 years? Use annual compounding to find
the rate of return needed to double $10,000 in 10 years.

60. Compare the future value of $10,000 invested for 45 years in common stocks and $20,000 invested for
45 years in bonds. Assume a 12% annual return for common stocks and a 6% annual return for bonds.

61. In 2004, the Johnson Controls had a net income of $813.5 million on revenue of $27.1 billion, and had
debt of $2.79 billion and stockholders' equity of $5.58 billion. What was Johnson Control's return on
equity for 2005?

62. In late 2004, the Home Depot reported 2004 full-year earnings per share of $2.26, and the company's
stock traded near a price of $40. What is Home Depot's P/E ratio?

9
63. A young investor begins saving early by investing $1,000 per year, every year, for 35 years. The
investment account earns an annual 10% return.
A. How much will be in the investment account at the end of 35 years?
B. A middle-aged investor has not saved for retirement. He has only 20 years left to invest. If he also
invests for a 10% return, how much must he invest each year to equal the amount the young investor will
have (from part A.)?

64. Assuming annual compounding, calculate the future value of a $10,000 investment earning 8% interest
over a period of 27 years.

65. Assuming annual compounding, calculate the present value of $10,000 to be received in 24 years when a
3% rate of return can be earned on investment.

66. Show how the future value of a 10-year $10,000 investment growing at 6% differs when using annual
versus continuous compounding. Explain any differences.

10
67. 13D filings tell shareholders about big investors buying 5% or more of the company. Why might this
information be useful?

68. Form 144 filings tell shareholders about insiders who intend to sell shares in the company. What kind of
signal does this information send to shareholders?

11
 ch1 Key
1. The future value of a present sum increases with a rise in the interest rate.
TRUE
Hirschey - Chapter 01 #1

2. The present value of a future sum decreases with a rise in the interest rate.
TRUE

Hirschey - Chapter 01 #2

3. Annual compounding at a given rate of interest will yield the same future value as a somewhat higher
continuously compounded interest rate.
FALSE
Hirschey - Chapter 01 #3

4. Many naïve investors tend to buy high and sell low.

TRUE

Hirschey - Chapter 01 #4

5. Over a 40-year investment horizon, 9% growth more than triples the amount earned at 6%.
TRUE

1.0940 = 31.09, 1.0640 = 10.29, so 31.09 / 10.29 = 3.02 times

Hirschey - Chapter 01 #5

6. A 6% rate of return is a typical average for long-term bond investors.

TRUE

Hirschey - Chapter 01 #6

7. Under a defined-contribution retirement plan, employees are promised a fixed retirement income of,
say, 1% times the number of years served times the last year's salary.
FALSE
Hirschey - Chapter 01 #7

8. Over time, defined-contribution retirement plans in the United States have been abandoned in favor
of what are called defined-benefit plans.
FALSE
Hirschey - Chapter 01 #8

1
9. Investments theory explains the economic forces that determine prices for stocks, bonds, and other
assets such as real estate, art, and collectibles.
TRUE
Hirschey - Chapter 01 #9

10. Portfolio theory tells us that diversification has the potential to reduce anticipated risk for a given
expected return.
TRUE
Hirschey - Chapter 01 #10

11. The price of higher expected return is greater anticipated risk.

TRUE

Hirschey - Chapter 01 #11

12. The efficient market hypothesis states that every security at every point in time is fairly priced.
TRUE
Hirschey - Chapter 01 #12

13. Understanding a person's incentives goes a long way to predicting their behavior.
TRUE

Hirschey - Chapter 01 #13

14. Difficult decisions with a high degree of uncertainty are less likely to be influenced by emotions and
feelings.
FALSE
Hirschey - Chapter 01 #14

15. The efficient market hypothesis is consistent with the observation that security prices are sometimes,
but only rarely, too low (undervalued) or too high (overvalued).
FALSE
Hirschey - Chapter 01 #15

16. On average, return on equity consistently falls in the range from 20%-22% per year for the broad
cross-section of businesses in the United States.
FALSE
Hirschey - Chapter 01 #16

17. A plain text report of quarterly accounting earnings information is provided on the Schedule 10K
report
FALSE
Hirschey - Chapter 01 #17

18. EDGAR is a for profit company that specializes in providing investor access to SEC reports and
filings.
FALSE
Hirschey - Chapter 01 #18

2
19. Schedule 13D filings are made to the SEC within 10 days of an entity attaining a 5% or more position
of a company's stock.
TRUE
Hirschey - Chapter 01 #19

20. SEC Form 144 filings must only be submitted by holders of restricted securities, sometimes called
letter stock, after they have sold such shares to the general public.
FALSE
Hirschey - Chapter 01 #20

21. The present value of a future sum will rise with a fall in the:
A. interest rate.
B. investment period.
C. future sum.
D. none of these.

Hirschey - Chapter 01 #21

22. Using annual compounding, what is the present value of a $39,703 sum to be received in 16 years
when a 9% rate of return can be earned on investment?
A. $9,406.
B. $10,000.
C. $5,000.
D. $157,633.

$39,703 1.0916 = $10,000

Hirschey - Chapter 01 #22

23. Over a 36-year period, an investment growing at 12% compounds to a final value that is:
A. twice that of an investment growing at 6%.
B. four times that of an investment growing at 6%.
C. six times that of an investment growing at 6%.
D. sixteen times that an investment growing at 4%.
Hirschey - Chapter 01 #23

24. Since World War II, stock investors have outperformed bond investors by about:
A. 6% per year.
B. 12% per year.
C. 3% per year.
D. 1% per year.

Hirschey - Chapter 01 #24

25. Since World War II, investors in a 50/50 mix of stocks and bonds have earned a nominal return
before taxes of roughly:
A. 14% per year.
B. 9% per year.
C. 6% per year.
D. 3% per year.
Hirschey - Chapter 01 #25

3
26. Under a defined-benefit retirement plan, employees are promised:
A. a fixed lump sum amount at retirement.
B. employer matching of employee retirement plan contributions.
C. a variable amount at retirement, depending upon retirement plan performance.
D. a fixed retirement income.
Hirschey - Chapter 01 #26

27. Portfolio theory tells us that diversification has the potential to:
A. increase anticipated risk for a given expected return.
B. reduce expected return for a given anticipated risk.
C. reduce anticipated risk for a given expected return.
D. reduce transaction costs.

Hirschey - Chapter 01 #27

28. Financial theory is useful because it is:

A. able to predict stock and bond prices.
B. logical.
C. mathematically rigorous.
D. derived from economic principles.

Hirschey - Chapter 01 #28

29. A stock broker may improperly buy and sell the securities in a customer's account to generate
commissions. This is known as .
A. enhancement
B. insider trading
C. indexing
D. churning
Hirschey - Chapter 01 #29

30. Annual accounting information is filed with the SEC on the:

A. 10K report.
B. 10Q report.
C. 13D report.
D. Form 144.

Hirschey - Chapter 01 #30

31. Under a defined-contribution retirement plan, individual employees are paid a retirement income
based upon the:
A. number of years of service.
B. employee's final year's salary and years of service.
C. employee's retirement plan contributions.
D. total value accumulated in their retirement portfolio.
Hirschey - Chapter 01 #31

4
32. Advisors that help clients with asset allocation, investment goals, insurance needs, tax and estate
planning are called .
A. investment bankers
B. stock brokers
C. financial planners
D. financial analysts
Hirschey - Chapter 01 #32

33. Annual compounding at 10% results in the same future value as a continuously compounded interest
rate that is:
A. more than 10%.
B. less than 10%.
C. equal to 10%.
D. none of these.
Hirschey - Chapter 01 #33

34. At a 6% annual rate of return, the present value of a of $100,000 per year payment in perpetuity is
roughly:
A. $6,000.
B. $1.67 million.
C. $1 million.
D. $167,000.

$100,000 ÷ 0.06 = $1.67 million

Hirschey - Chapter 01 #34

35. The short-term bond investor has an advantage over long-term stock investors in terms of:
A. return stability.
B. total expected return.
C. total realized return.
D. total nominal return.
Hirschey - Chapter 01 #35

36. When investing to pay for a child's college education, the disadvantage of a small initial investment
can be offset by:
A. use of continuous compounding.
B. an extended investment horizon.
C. broad diversification among stocks and bonds.
D. use of annual compounding.
Hirschey - Chapter 01 #36

37. If risk-free U. S. Treasury bills yield 6% interest, similar government bonds that yield more than 6%
per year have an:
A. intermediate-term to maturity.
B. long-term to maturity.
C. short-term to maturity.
D. none of these.
Hirschey - Chapter 01 #37

5
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 CHAPTER XVI.
CALVIN'S FLIGHT.
(Spring, 1536.)

Duke Hercules of Este had remarked that certain changes had

taken place since the arrival of the Frenchman. Calvin's discussion
with François the chaplain could not be kept secret. Borgia's
grandson knew that the pope, under the pretence of heresy, might
deprive him of his states; already his father, Duke Alphonso, through
being on bad terms with Rome, had passed many years in exile. The
Inquisition had a tribunal at Ferrara, and what was going on at court
was more than enough to alarm it. A report had been made to the
pope; Charles V. had been informed; and Paul III. proposed a treaty
to the duke, in which there was a secret article stipulating the
removal of all the French then at Ferrara; but there was one among
them for whom a severer fate was reserved. The duke, retracting
the indulgence he had conceded to his wife, declared that he was
resolved to put an end to the schismatic intrigues of which the court
was the theatre; that the count and countess of Marennes, Soubise,
the other gentleman, and even Marot, must quit his states; 'and as
for M. d'Espeville,' he added, 'know, madam, that if he is discovered,
he will forthwith be dragged to punishment on account of
religion.'[809]
=TRIALS OF RENEE.=
This order was like a thunderstroke to Renée. Called to leave the
land of her ancestors, she had created a little France at Ferrara; and
now, all who gave her any comfort in her exile were about to be torn
from her. Rome would deprive her of that pious and learned teacher
who had given her such good counsel; perhaps he would expiate on
an Italian scaffold the crime of having proclaimed the Gospel. All the
lords and ladies of the court, and even the satirical Marot, were to
leave Ferrara. Leon Jamet seems to have been the only Frenchman
permitted to stay; the duchess, who required a secretary, had
obtained her husband's permission for this ex-clerk of the treasury to
remain with her in that character. Thus the daughter of Louis XII.,
after the bright days she had enjoyed, was condemned to remain
almost alone in her palace, as in a gloomy chamber; her slightest
movements were watched; she was tormented by priests whom she
despised, and exposed by the grandson of Borgia to unjust
harshness. Marot, touched by so many misfortunes, and knowing
the part which the queen of Navarre, Renée's cousin, would take in
this great trial, addressed her in these touching lines:

Ah! Marguerite, écoute la souffrance

Du noble cœur de Renée de France;
Puis comme cœur, plus fort en espérance,
Console-la.
Tu sais comment hors son pays alla,
Et que parents et amis laissa là;
Mais tu sais quel traitement elle a
En terre étrange![810]

Renée was to suffer a pain still greater than that caused by the
dismissal 'beyond the mountains' of her friends from France. That
iniquitous institution, decorated with the name of the Holy Office,
which was destined a little later to make thousands of martyrs in
Spain, the Netherlands, and other countries, desired for the moment
to strike the teacher who had excited the greatest terror and hatred
at Rome. The Inquisition had discovered Calvin's residence. His
name and his crime were inscribed in the black-book of that cruel
institution.[811] Heresy was flourishing at the court of Este; the chief
culprit was pointed out, and if the others were allowed to depart, he
at least must be punished.
=CALVIN'S ARREST.=
Calvin, forewarned of what was going on, was at the palace Del
Magistrato, where he and Du Tillet lived, and was hurriedly getting
ready for his departure, when the agents of the inquisitors, who
were on the watch, arrived, seized the 'pestiferous disturber,' and
dragged him away a prisoner.[812] It was not their intention to leave
him in a place where the evangelical doctor possessed many
influential friends. They determined to have him tried at Bologna, a
city in the States of the Pope, not far distant from Ferrara, where
they would be entirely the masters. The young Frenchman was
therefore placed in the charge of some familiars of the Holy Office,
and guarded by them was to proceed to that ancient city which
boasted of possessing within its walls the ashes of St. Dominick, the
founder of the Inquisition.
Calvin began the journey, surrounded by the men appointed to
conduct him. He might then have said of himself, as he afterwards
said of another: 'Although he hopes still, he is assailed by a hundred
deaths, so that there is not an opening, be it ever so small, for
escape.'[813] The tribunal of the Inquisition, which was never tender,
would certainly not be so towards a heretic of this kind. The
squadron which had him in charge, turning towards the south,
crossed a fertile country and proceeded without obstacle towards
the city of Bologna.[814] They had already gone more than halfway,
when some armed men suddenly made their appearance.[815] They
stopped the escort, and ordered them to release their prisoner. We
do not know whether there was any resistance; but this much is
certain, that the inquisitors, little accustomed to yield, saw the
doctor taken from them whom they were conducting to certain
death. Calvin was set at liberty[816] and strained every nerve to get
out of Italy.
His sojourn in that country, as we read of it in authentic
documents, is far from being a blank page, as some have supposed.
The last event that we have mentioned, according to Muratori, has
even a particular interest. It reminds us of a well-known
circumstance in the history of the German reformation, when Luther,
returning from Worms, was carried off by horsemen masked and
armed from head to foot. But Calvin's case was more serious than
that of the Saxon reformer, who was taken to a castle belonging to
friends, beyond the reach of danger; while Calvin was left alone,
almost in the middle of Italy, and forced to make his way through a
hostile country, where he ran the risk of being arrested again.
It has been asked who snatched this choice prey from the
tribunals of Rome, and even in the states of the pope; whence did
the blow proceed?[817] It was bold and rash; it exposed its contrivers
and agents to great danger, for the papacy and the Inquisition were
all-powerful in Italy. A strong affection, a great respect for the
reformer, and boundless devotion to the cause of truth, can alone
account for such an audacious adventure. One person only in the
Italian peninsula was capable of contriving it and of carrying it out,
and that was—is it necessary to say?—the daughter of Louis XII.
Everybody ascribed the reformer's liberation to her. It might be
expected that the Inquisition, always so suspicious and severe,
would be implacable in its vengeance. Renée escaped, at least for
the moment. It is possible that Hercules of Este exerted his influence
at the pontifical court to hush up the affair, and promised to keep
the duchess closer in future. He kept his word but too well.
Calvin did not hesitate to take advantage of this rescue; but from
that moment we have no sufficient data about him or his route. To
find any traces of him, we must examine local traditions, which
ought not to be despised, but which do not supply us with historical
certainty. It was natural—the map indicates it—that the fugitive
should turn his steps in the direction of Modena. In the environs of
that city there lived a celebrated man of letters, Ludovico
Castelvetro, who was suspected of heresy. He was an esteemed
critic and skilful translator; he had rendered into Italian one of
Melanchthon's writings, and when he quitted Italy many years after
this, he passed through Geneva, where he visited some friends.
When the ancient villa of Castelvetro was pulled down in the first
half of this century, the workmen discovered a sealed chest, which
contained the earliest editions of Calvin's works in marvellous
preservation.[818] The reformer had no doubt heard this scholar
mentioned at the court of Ferrara; but there is nothing to prove that
he sought a temporary asylum under the roof of Melanchthon's
translator, who does not appear to have made at that time a frank
profession of the Gospel.[819]
=CALVIN'S ROUTE.=
Tradition relates that Calvin, instead of going northwards towards
Switzerland, skirted the Apennines, turned to the west, and reached
the Val di Grana, between Saluzzo and Coni, where he preached. It
is affirmed that the priests of the village of Carigliano so excited the
women of the parish, that with savage cries they stoned the
Frenchman out of the place. It is added that Calvin went thence to
Saluzzo, and preached there, but with as little success.[820] In our
opinion, these traditions are not sufficiently corroborated to deserve
a place in history. It seems more likely that Calvin took the shortest
road to Switzerland and made for the St. Bernard pass. If he had
possessed leisure for evangelical excursions, he might no doubt have
gone to the Waldensian valleys, which his cousin Olivetan had
visited, and where the latter had conceived the project of translating
the Bible, at which he himself also labored and was still to labor. But
there is no indication of his having ever visited those mountains. He
arrived at the city of Aosta.
=THE CITY OF AOSTA.=
The first gleams of the Word of God were beginning, as we have
said, to enlighten that cisalpine region which lies at the foot of the
St. Bernard, Mont Blanc, and Mont Rosa. Aosta, founded by
Augustus, after whom it was named, had received an evangelical
impulse from Switzerland. The Bernese had thought that if the
Divine Word crossing the St. Gothard had made conquests near the
banks of the Ticino, it might make others in the valley of Aosta by
crossing the St. Bernard. Italian, Bernese, and Genevan documents
all bear witness alike to the religious fermentation then prevailing in
that city. 'The Gospel is spreading beyond the mountains,' wrote
Porral, the envoy of Geneva at Berne, 'and it must go forward in
despite of princes, for it is from God.' Ere long the Roman hierarchy
made use of their customary weapons against those who embraced
the Reform, and Porral announced that the Aostans had 'serious
questions with their bishop, on account of the excommunications,
which they could not bear.'[821] We have told how the Bernese
plenipotentiaries went to Aosta in November 1535, to confer with
the duke of Savoy. They pleaded there in favor of Geneva, and
demanded the liberation of Saunier, then a prisoner at Pignerol.[822]
They talked with everybody they met about the great questions then
under discussion, and invited them to receive the teaching of Holy
Scripture. Some dwellers in the valley, both among the nobility and
burghers, welcomed the principles of the Reformation.[823] Among
those won to the Gospel were the Seigneurs De la Crète and De la
Visière, the pious and zealous Leonard de Vaudan, Besenval, Tillier,
Challans, Bovet, Borgnion, Philippon, Gay, and others.[824]
But if there were hearts in the valley of Aosta ready to receive the
Gospel, there were others determined to resist it. At the head of its
opponents were two eminent men. Among the laity was Count René
de Challans, marshal of Aosta, full of enthusiasm for popery and
feudalism, and bursting with contempt for the heretics and
republicans of Switzerland. Distressed at witnessing the reverses
suffered by his master, the duke of Savoy, he had sworn that in
Aosta at least he would exterminate the Lutherans. His fellow-soldier
in this crusade was Pietro Gazzini, bishop of Aosta, one of the most
famous prelates of Italy. Priests and devotees extolled his virtues
and his learning, but what distinguished him most was the haughty
temper and domineering humor which so often characterizes the
priests of Rome. Gazzini was a canon of the Lateran, the first
patriarchal church of the west, and served as the channel between
the duke and the pope. He was at Rome when evangelical doctrine
began to spread in his diocese, and he then tried to manage that the
council, which was to put an end to heresy, should be held in the
states of the duke his master.[825] He even carried his ambition for his
sovereign very far. 'It was becoming,' he told the pontiff, 'that the
direction of the council should be given to the duke of Savoy by the
emperor and the king of France.'[826] The direction of a council given
to a secular prince by the pope and two other secular princes is an
idea apparently not in strict harmony with the theocratic
omnipotence of the pontiff, which many men boast of so loudly.
In the bishop's absence there was a person at Aosta quite worthy
of supplying his place: this was the guardian of the Franciscan
monastery, Antonio Savion (Antonius de Sapientibus), a well-
informed, zealous man, who afterwards became general of the order,
and was one of the fathers of the Council of Trent. Savion uttered a
cry of alarm.
One day, when Gazzini was performing his duties in the basilica of
St. John, he received letters describing the state of affairs at Aosta.
The alarmed prelate did not hesitate. 'When Calvin's heresy was
penetrating into his diocese,' said Besson, the Savoyard priest, 'he
hastened to block up the road.'[827]
As soon as the bishop arrived, he visited every parish with
indefatigable diligence; he went into the pulpits and 'kept the people
in sound doctrine by his sermons.'[828] He told them that 'Satan was
prowling about, like a roaring lion, to devour them; that they must
therefore keep a strict watch and drive back the ferocious beast.' To
these exhortations he added censures, monitions, and
excommunications. All readers of Holy Scripture were to be driven
from the fold of the church.
A general assembly of the Estates of the valley to regulate the
affairs of the district was held on the 21st of February, 1536. Among
the deputies were several friends of the Reformation: De la Crète,
Vaudan, Borgnion, and others indicated in the cahier of the Estates.
[829] Two subjects in particular filled the majority of the assembly

with anxiety. The political and the religious situation of the city
appeared equally threatened. Men's eyes were turned to
Switzerland, and it was asserted that designs of political conquest
were combined in the minds of the Bernese with the too manifest
desire of religious conquest. At a time when the house of Savoy was
exposed to the attack of France, many wanted to see the valley of
Aosta take advantage of this to join the Helvetic League and rally
under the standard of the Gospel. The members of the assembly
were convinced that the Swiss desired 'to canton' all the country,
and by that means extend their confederation on both sides of the
Alps. But the other danger was still more alarming to the chiefs of
the Roman party, and they earnestly represented to the Estates that
the attachment of the city and valley to the holy see of Rome was
threatened; and that the Bernese Lutherans, who were not content
with laying hands upon the territory of Vaud, but had introduced and
propagated their 'venomous sect,' wanted to do the same in Aosta.
[830] The assembly resolved to maintain the Roman-catholic faith and

continue loyal to his ducal highness, and it was enacted that every
transgressor should be put to death.[831]
=CALVIN AT AOSTA.=
It is a matter of notoriety that Calvin passed through the city of
Aosta; but did he arrive at this epoch, and was he there during part
at least of the session of the Estates? This is affirmed by documents
of the 17th and 18th centuries, and his presence there is not
impossible; but there is, in our opinion, one circumstance adverse to
its acceptance. The official documents of the period, and more
especially the journals of the assembly of February and March, 1536,
make no mention of Calvin's presence, and do not even allude to it.
It would, however, have been worth the trouble of recording, if he
were only designated, as he was a little later in the Registers of
Geneva, as a Frenchman. Two important facts, in a religious point of
view, occurred at Aosta in the early months of the year 1536: the
Assembly of the Estates and the passage of Calvin. The first took
place in February and March; the second probably a little later.
Tradition makes them coincide, which is more dramatic; history sets
each in its right place. But because the reformer did not (during the
sitting of the Assembly) play the part assigned to him, it must not be
assumed that he never passed through that city.
Calvin had his reasons for taking the Aosta and St. Bernard route.
It had been in use for centuries, and he had no doubt learnt during
his residence at Basle, what was universally known in Switzerland,
that the Bernese had frequent relations with this country, that they
had introduced the Gospel there, and that some of the inhabitants
had adopted the principles of the Reformation. An ancient document
gives us to understand that Calvin passed through Aosta both going
and returning.[832] In our opinion that would be quite natural. The
reports circulated in Switzerland about that city would induce him to
take that road on his way to Italy, and we can easily conceive, as
regards his return, that a fugitive would take a road already known
to him, and where he was sure of meeting friends. But we do not
press this, and are content to follow the traces Calvin left in the
country on his return, and which are still to be found there.
=CALVIN'S FARM.=
At the foot of the St. Bernard, very near the city of Aosta, stood a
house on some rising ground, where a grange may still be seen. In
order to reach it you leave the St. Bernard road a short distance
from the city and take a footpath, near which a little chapel now
stands. The meadows around it, the abrupt peaks rising above it,
the Alps hiding their snowy heads in the clouds, the view over Aosta
and the valley—all combined to give a picturesque aspect to that
house. If the traveller asks the inhabitants of the country what
house that is, he will be told it is 'Calvin's Farm;' and they add that
when the reformer was passing through Aosta, he was sheltered
there by one of the most zealous of the reformed, Leonard de
Vaudan. It was very natural that Calvin should prefer such a retired
habitation to a house in the city.
We do not know what Calvin did or said at Aosta. The only fact
which appears proved—and a monument more than three centuries
old attests it—is that his presence did not remain unknown, and
caused a sensation there more or less lively. The reformer would
have run great danger had he been arrested in the city of Bishop
Gazzini, 'who by his vehement discourses was arming all his flock
against the heretics, and who, seeing Satan incarnate in the
evangelical teachers, called upon them to expel the ravenous beast.'
Such are the expressions made use of by the historian of the
diocese.[833] Calvin, already a fugitive, hastened to leave the
neighborhood of the city. To these simple and natural facts some
extraordinary circumstances have been added. For instance, certain
writers have represented the Count of Challans in fierce pursuit of
Calvin, and following him with drawn sword into the very heart of
the mountains. This is a legend tacked on to history, as happens far
too frequently.
It was natural that Calvin, under the circumstances in which he
was placed, should not take the ordinary road, as it was certain he
would be looked for there, and he might easily have been overtaken.
It would appear, if we follow the traces his passage has left round
Aosta, that he sought to escape from the enemies of the
Reformation. When we leave 'Calvin's Farm,' and turn to the right,
we come to a bridge near Roisan, below the village of Closelina. This
is called in the neighborhood 'Calvin's Bridge.' Calvin crossed it, and
thus followed a more difficult and less frequented road than the St.
Bernard. If we climb the mountain in the direction of the valley of La
Valpeline, we arrive at a col inclosed by Mont Balme, Mont Combin,
and Mont Vélan: this is the 'pass of the window,' afterwards named
'Calvin's Window,' and by it the reformer entered Switzerland again.
[834]

As we have said, Calvin's passage had made a deep impression in

Aosta. The inhabitants of that most catholic city looked upon their
opposition to the reformer, and the flight to which they compelled
him to have recourse, as a glory to their city calculated to bring
upon them the admiration of the friends of the papacy.
Consequently, five years after these events, on the 14th May, 1541,
the Aostans erected a stone cross in the middle of their city in
memory of the act. As this primitive monument had become
decayed, it was replaced two centuries later (1741) by a column
eight feet high, which Senebier mentions, and on which there was
this inscription:[835]
'Hanc Calvini fuga erexit anno MDXLI.
Religionis constantia reparavit MDCCXLI.'
 Finally, a hundred years later, this was succeeded by the
monument, which every traveller can now see as he passes through
Aosta, and which we have examined more than once ourselves.[836]
There are thus three centuries and three successive monuments.
Calvin's passage through the city of Aosta is, therefore, among the
number of historic facts commemorated on the very spot where they
occurred, in the most peremptory manner.
=CALVIN RETURNS TO FRANCE.=
Calvin passed through Switzerland, halted at Basle, and thence
proceeded to Strasburg. He determined to choose one of these two
cities, in which to pass that studious and peaceful life he desired so
much, either in the society of Cop, Gryneus, and Myconius, or of
Bucer, Capito, and Hedio. But he desired first to return to Noyon,
where he had some business to arrange. Leaving Du Tillet at
Strasburg, he started for France, which he could do without
imprudence; for he had not left his country under the weight of any
judicial sentence which he had evaded. Moreover the government
just then was less severe.
The arrival of the young doctor was no sooner known in Paris than
many friends of the Gospel hastened to his inn. They were never
tired of listening to him. 'There is not in all France,' they told him, 'a
man who inspires us with so much admiration as you do.'[837]
But Calvin was eager to reach Noyon, where a severe
disappointment awaited him: his brother Charles, the chaplain, was
no more.[838] The circumstances of his death filled Calvin with sorrow
and with joy. 'Charles openly confessed Jesus Christ on his dying
bed,' his surviving brother, Anthony, and his sister Mary told John,
'and desired no other absolution than that obtained from God by
faith. Accordingly, the exasperated priests had him buried by night,
between the four pillars of the gallows.'
Calvin invited Anthony and Mary to leave a country in which
believers were covered with infamy.
 His stay at Noyon was very short. It was not possible for him to go
direct to Basle or Strasburg, because of the war between Charles V.
and Francis I., which prevented his crossing Champagne and
Lorraine; but he learnt that he could, without encountering any
difficulty, pass through Bresse, then ascend the Rhone, traverse
Geneva, and so reach Basle by way of Lausanne and Berne. He took
this road. 'In all this,' says Beza, 'God was his guide.'[839]
Thus drew near to Geneva the great theologian who discerned
more clearly than any other man of that day what, in doctrine and in
life, was in conformity with or opposed to God's truth and will.
Whereas his predecessors had left some few traditions existing by
the side of Scripture, he laid bare the rock of the Word. Truth had
become the sole passion of that ardent and inflexible soul, and he
was resolved to dedicate his whole life to it. At that time, however,
he had no idea of performing a work like Luther's; and if he had
been shown the career that was opening before him, he would have
shrunk from it with terror. 'I will try to earn my living in a private
station,' he said.[840] The ambition of Francis I. changed everything.
That prince, unwittingly, accomplished the designs of God, who
desired to place the reformer in the centre of Europe, between Italy,
Germany, and France.

[809] Défense de Calvin, par Drelincourt, p. 337.

[810] Œuvres de Cl. Marot, ii. p. 337.
[811] 'Vengo assicurato da chi ha veduto gli atti dell'
Inquisizion di Ferrara.'—Muratori, Annali d'Italia, xiv. p. 305.
[812] 'Che si pestifero mobile fu fatto prigione.'—Ibid.
[813] Calvin on Acts xii. 6.
[814] 'Mentre che era condotto da Ferrara a Bologna.'—
Muratori, Annali d'Italia, xix. p. 305.
[815] 'Gente armata.'—Ibid.
[816] 'Fu messo in libertà.'—Ibid.
[817] 'Onde fosse venuto il colpo.'—Muratori, Annali d'Italia,
xiv. p. 305.
[818] Bayle's Dictionary, sub voce Castelvetro.—J. Bonnet:
Calvin. The discovery happened in 1823.
[819] Tiraboschi, Hist. de la Litt. ital. vii. p. 169.
[820] Bonnet, Calvin au Val d'Aoste, pp. 13, 14.
[821] Dépêches d'Ami Porral au Conseil de Genève.
[822] Lettres du Conseil de Berne au duc de Savoie du dernier
Septembre 1535, et au Conseil de Genève du 24 Décembre
1535. These letters were communicated to me, along with
others, by M. de Steiner, librarian of the city of Berne, and M.
de Stürler, Chancellor of State.
[823] 'Quæ factæ sunt per Bernenses Leuteranos in Provincia
Augustana, etc.' Procès-verbal de l'Assemblée du 28 Février
1536.
[824] Many of these names are still to be found in Suisse
Romande where the bearers of them had been forced to take
refuge.
[825] Il vescovo d'Agosta allo duca di Savoia. The author
found this letter, dated from Rome, in the General Archives of
the kingdom of Italy, preserved at Turin.
[826] 'Di far dare il governo del Concilio, tanto da sua Santità
quanto dallo Imperatore, e re di Francia, a vostra Eccellenza
(the duke).'—Ibid.
[827] Mémoires des diocèses de Genève, d'Aoste, etc., par le
curé Besson, p. 260.
[828] Ibid. p. 261.
[829] 'Nobilis Nicolaus de Crista, Antonius Vaudan,
Bartolomæus, Borgnion, pro communitate parochiæ Sancti
Stephani electi, etc.' General Council of February 1536.
Archives of the Intendance of Aosta.
[830] 'Illa secta venenosa leuterana.'—Procès-verbal of the
Assembly. Archives of the Intendance of Aosta.
[831] MS. in the Archives of the kingdom at Turin.
[832] Documents in the Archives of M. Martinet, formerly
deputy of Aosta.—J. Bonnet, Calvin au Val d'Aoste, p. 21.
[833] Mémoires des diocèses de Genève et d'Aoste, etc., par
le curé Besson, p. 261.
[834] The idea of Calvin's passage by this col is now generally
admitted, and even in Murray's Guide we read, 'Calvin fled by
this pass from Aosta.'
[835] Histoire littéraire de Genève, i. p. 182 (edit. 1786).
[836] To the inscription given above, these words have been
added:
'Civium munificentia renovavit et adornavit.
Anno mdcccxli.'

[837] Godefridus Lopinus, Calvino. MS. preserved in the public

Library at Geneva.
[838] Beza, Vita Calvini.
[839] 'Divinitus perductus.'—Beza, Vita Calvini.
[840] Lettres françaises de Calvin, i. p. 22.
 CHAPTER XVII.
CALVIN'S ARRIVAL AT GENEVA.
(Summer, 1536.)

=CALVIN ARRIVES AT GENEVA.=

One evening in the month of July, 1536, a carriage from France
arrived at Geneva. A man, still young, alighted from it. He was short,
thin, and pale; his beard was black and pointed, his organization
weak, and his frame somewhat worn by study; but in his high
forehead, lively and severe eyes, regular and expressive features,
there were indications of a profound spirit, an elevated soul, and an
indomitable character. His intention was to 'pass through Geneva
hastily, without stopping more than one night in the city.'[841] He was
accompanied by a man and woman of about the same age. The
three travellers belonged to the same family—two brothers and a
sister. The foremost of them, long accustomed to keep himself in the
background, desired to pass through Geneva unobserved. He
inquired for an inn where he could spend the night: his voice was
mild, and his manner attractive. Scarcely a carriage arrived from
France without being surrounded by some of the Genevans, or at
least by French refugees; for it might bring new fugitives, obliged to
seek a country in which they were free to profess the doctrine of
Christ. A young Frenchman, at that time the friend and disciple of
the traveller, who had gone to the place where the carriage from
France put up, in order to see if it brought anybody whom he knew,
recognized the man with the intelligent face, and conducted him to
an hotel. The traveller was John Calvin, and his friend was Louis Du
Tillet, ex-canon of Angoulême, Calvin's travelling companion during
his Italian journey. From Strasburg, whither he had gone to meet
Calvin, he had returned to Geneva, no doubt because he thought
that the war between Francis I. and Charles V. would compel his
friend to make a bend and pass through Bresse and the valley of the
Leman. This was actually what happened.
 Calvin, who had come to Geneva without a plan and even against
his will, having sat down with Du Tillet in his room at the hotel, their
conversation naturally turned on the city in which they were, and of
which the reformer know but little. He learnt, either from his friend
or from others subsequently, what he probably knew something
about already; namely, that popery had been driven out of it shortly
before; that the zeal, struggles, trials, and evangelical labors of
William Farel were incessant; but that affairs were not yet 'put in
order in the city;' that there were dangerous divisions, and that Farel
was contending almost alone for the triumph of the Gospel. Calvin
had long respected Farel as the most zealous of evangelists; but it
does not appear that they had ever met. Du Tillet could not keep to
himself the news of his friend's arrival, and after leaving Calvin, he
called on Master William. 'After discovering me, he made my coming
known to others,' says Calvin.[842]
=FAREL AND CALVIN.=
Farel, who had read the Christian Institutes, had recognized in the
author of that work the most eminent genius, the most scriptural
theologian, and the most eloquent writer of the age. The thought
that this extraordinary man was in Geneva, and that he could see
and hear him, moved and delighted Farel. He went with all haste to
the inn and entered into conversation with the youthful theologian.
Everything confirmed him in his former opinion. He had long been
looking for a servant of God to help him, yet had never thought of
Calvin. But now a flash of light shone into his soul, an inward voice
said to him: This is the man of God you are seeking. 'At the very
moment when I was thinking least about it,' he said, 'the grace of
God led me to him.' From that moment there was no hesitation or
delay. 'Farel, who glowed with a marvellous zeal for promoting the
Gospel,' says Calvin, 'made every effort to retain me.'[843]
Would he succeed? Seldom has there been a man who, like Calvin,
was placed in the influential position he was to occupy all his life, not
only without his concurrence but even against his will. 'Stay with
me,' said Farel, 'and help me. There is work to be done in this city.'
Calvin replied with astonishment: 'Excuse me, I cannot stop here
more than one night.'—'Why do you seek elsewhere for what is now
offered you?' replied Farel; 'why refuse to edify the Church of
Geneva by your faith, zeal, and knowledge?' The appeal was
fruitless: to undertake so great a task seemed to Calvin impossible.
'But Farel, inspired by the spirit of a hero,' says Theodore Beza,
'would not be discouraged.' He pointed out to the stranger that as
the Reformation had been miraculously established in Geneva, it
ought not to be abandoned in a cowardly manner; that if he did not
take the part offered to him in this task, the work might probably
perish, and he would be the cause of the ruin of the Church.[844]
Calvin could not make up his mind; he did not want to bind himself
to a particular church; he told his new friend that he preferred
travelling in search of knowledge, and making himself useful in the
places where he chanced to halt. 'Look first at the place in which
you are now,' answered Farel; 'popery has been driven out and
traditions abolished, and now the doctrine of the Scriptures must be
taught here.' 'I cannot teach,' exclaimed Calvin; 'on the contrary, I
have need to learn. There are special labors for which I wish to
reserve myself. This city cannot afford me the leisure that I require.'
He explained his plan. He wanted to go to Strasburg, to Bucer, and
Capito, and then putting himself in communication with the other
doctors of Germany, to increase his knowledge by continued study.
'Study! leisure! knowledge!' said Farel. 'What! must we never
practise? I am sinking under my task; pray help me.' The young
doctor had still other reasons. His constitution was weak. 'The frail
state of my health needs rest,' he said.—'Rest!' exclaimed Farel,
'death alone permits the soldiers of Christ to rest from their labors.'
Calvin certainly did not mean to do nothing. He would labor, but
each man labors according to the gift he has received: he would
defend the Reformation not by his deeds but by words.[845]
The reformer had not yet expressed his whole thought: it was not
only the work they asked him to undertake that frightened him, it
was also the locality in which he would have to carry it out. He did
not feel himself strong enough to bear the combat he would have to
engage in. He shrank from appearing before the assemblies of
Geneva. The violence, the tumults, the indomitable temper of the
Genevese were much talked of, and they intimidated and alarmed
him. To this Farel replied, 'that the severer the disease, the stronger
the measures to be employed to cure it.' The Genevese storm, it is
true; they burst out like a squall of wind in a gale; but was that a
reason for leaving him, Farel, alone to meet these furious tempests?
'I entreat you,' said the intrepid evangelist, 'to take your share.
These matters are harder than death.' The burden was too heavy for
his shoulders; he wanted the help of a younger man. But the young
man of Noyon was surprised that he should be thought of. 'I am
timid and naturally pusillanimous,' he said. 'How can I withstand
such roaring waves?'[846] At this Farel could not restrain a feeling of
anger and almost of contempt. 'Ought the servants of Jesus Christ to
be so delicate,' he exclaimed, 'as to be frightened at warfare?'[847]
This blow touched the young reformer to the heart. He frightened!—
he prefer his own ease to the service of the Saviour! His conscience
was troubled and his feelings were violently agitated. But his great
humility still held him back: he had a deep sentiment of his
incapacity for the kind of work they wanted him to undertake. 'I beg
of you, in God's name,' he exclaimed, 'to have pity on me! Leave me
to serve Him in another way than what you desire.'
=THE IMPRECATION.=
Farel, seeing that neither prayers nor exhortations could avail with
Calvin, reminded him of a frightful example of disobedience similar
to his own. 'Jonah, also,' he said, 'wanted to flee from the presence
of the Lord, but the Lord cast him into the sea.' The struggle in the
young doctor's heart became more keen. He was violently shaken,
like an oak assailed by the tempest; he bent before the blast, and
rose up again, but a last gust, more impetuous than all the others,
was shortly about to uproot him. The emotion of the elder of the
two speakers had gradually increased, in proportion as the young
man's had also increased. Farel's heart was hot within him. At that
supreme moment, feeling as if inspired by the Spirit of God, he
raised his hand towards heaven and exclaimed: 'You are thinking
only of your tranquillity, you care for nothing but your studies. Be it
so. In the name of Almighty God, I declare that if you do not answer
to His summons, He will not bless your plans.' Then, perceiving that
the critical moment had come, he added an 'alarming adjuration' to
his declaration: he even ventured on an imprecation. Fixing his eyes
of fire on the young man, and placing his hands on the head of his
victim, he exclaimed in his voice of thunder: 'May God curse your
repose! may God curse your studies, if in such a great necessity as
ours you withdraw and refuse to give us help and support!'
At these words, the young doctor, whom Farel had for some time
kept on the rack, trembled. He shook in every limb; he felt that
Farel's words did not proceed from himself: God was there, the
holiness of the presence of Jehovah laid strong hold of his mind; he
saw Him who is invisible. It appeared to him, he said, 'that the hand
of God was stretched down from heaven, that it lay hold of him, and
fixed him irrevocably to the place he was so impatient to leave.'[848]
He could not free himself from that terrible grasp. Like Lot's wife
when she looked back on her tranquil home, he was rooted to his
seat, powerless to move. At last he raised his head and peace
returned to his soul; he had yielded, he had sacrificed the studies he
loved so well, he had laid his Isaac on the altar, he consented to lose
his life to save it. His conscience, now convinced, made him
surmount every obstacle in order that he might obey. That heart, so
faithful and sincere, gave itself, and gave itself for ever. Seeing that
what was required of him was God's pleasure, says Farel, he did
violence to himself, adding: 'And he did more, and that more
promptly, than any one else could have done.'
=CALVIN'S SUBMISSION.=
The call of Calvin in Geneva is perhaps, after that of St. Paul, the
most remarkable to be found in the history of the Church. It was not
miraculous, like that of the Apostle on the road to Damascus; and
yet in the chamber of that inn, there was the flash of light and the
roar as of thunder; the voice which the Lord made to sound in
Calvin's heart, terrified him, broke down his obstinacy, and
prostrated him as if a thunderbolt from heaven had struck him. His
heart had been pierced; he had bowed his head with humility, and
almost prostrate on the earth he had felt that he could no longer
fight against God and kick against the pricks. At the same time
confidence in God filled his soul. He knew that He who made him
feel those 'stings'[849] had a sovereign remedy calculated to heal all
his wounds. Has not God said, 'Commit thy way unto the Lord, and
He shall bring it to pass?' The young man desired no longer to run
restive like a fiery courser, but, 'like a docile steed, permit himself to
be guided peaceably by the hand of his Master.'[850]
From that hour the propagation and defence of truth became the
sole passion of his life, and to them he consecrated all the powers of
his heart. He had still, after this solemn hour, to undergo, as he
says, 'great anxiety, sorrow, tears, and distress.' But his resolution
was taken. He belonged to himself no longer, but to God. 'In
everything and in every place he would guide himself entirely by his
obedience.' He never forgot the fearful adjuration which Farel had
employed. He had not set himself (he thought) in the place he
occupied, but had been put there by the arm of the Almighty. Hence,
whenever he met with obstacles, he called to mind 'the hand
stretched down from heaven,' and knowing its sovereign power, he
took courage.
The reformer did not, however, stop at Geneva immediately. On
leaving France, he had undertaken to accompany one of his
relations, named Artois, to Basle. For some days the brethren of
Geneva refused to let him go. At last, seeing that Calvin was
decided, they confined themselves to extorting from him an
engagement to return; after which he started for Basle with his
relation. On the road he encountered fresh importunities; the
Churches, whom the author of the Christian Institutes saluted on his
journey, desired to detain him.[851] Whether these entreaties, on
which Calvin had not reckoned before setting out, proceeded from
Lausanne, Neuchâtel, Berne, or rather from some other and younger
Churches, it is hard to say. At last he arrived at Basle, and having
finished his business returned to Geneva, probably in the latter half
of the month of August. But he had no sooner arrived than his
delicate health was shaken; he suffered from a severe cold, and was
ill for nine days.
=CALVIN'S VOCATION.=
When Calvin recovered from his indisposition, he at once set about
the work for which he had been detained. As he would have a crowd
of hearers—men and women, old and young, Genevese and
strangers—the cathedral of St. Pierre was assigned him. It was in
that vast building, where the mass had been so often sung, that
Calvin was about to inaugurate the reign of Holy Scripture. The
gates of St. Pierre's opened; the frail and humble, but powerful
preacher entered the Gothic portal; a numerous crowd made their
way with him into the nave, whose majestic grandeur seemed to
harmonize so well with the new teaching that was about to be heard
in it; and soon his voice resounded under those time-honored
arches.
Calvin, coming after Luther and Farel, was called to complete the
work of both. The mighty Luther, to whom will always belong the
first place in the work of the Reformation, had uttered the words of
faith with power; Calvin was to systematize them, and show the
imposing unity of the evangelical doctrine. The impetuous Farel, the
most active missionary of the epoch, had detached men from
Romish errors, and had united many to Christ, but without
combining them; Calvin was to reunite these scattered members and
constitute the assembly. Possessed of an organizing genius, he
accomplished the task which God had assigned him: he undertook to
form a church placed under the direction of the Word of God and the
discipline of the Holy Ghost. In his opinion, this ought to be—not, as
at Rome, the hierarchical institution of a legal religion; nor, as with
the mystics, a vague ideal; nor, as with the rationalists, an
intellectual and moral society without religious life. It is said of the
Word, which was God, and which was made flesh: In Him was life.
Life must, therefore, be the essential characteristic of the people
that it was to form. Spiritual powers must—so Calvin thought—act in
the midst of the flock of Jesus Christ. It was not ideas only that the
Lord communicated to His disciples, but a divine life. 'In the kingdom
of Christ,' he said, 'all that we need care for is the new man.'
And this was not a mere theory: Calvin must see it put into action.
Not content with the reformation of the faith, he will combat that
decline of morality which has for so long filled courts, cities, and
monasteries with disorder. He will call for the conversion of the heart
and holiness of life; he will interdict luxury, drunkenness, blasphemy,
impurity, masquerades, and gambling, which the Roman Church had
tolerated.
This strictness of discipline has brought down severe reproaches
on the reformer. We must confess that if Calvin did take a false step,
it was here. He conceded to man, to the magistrate, too great a
share in the correction of morals and doctrine: in the sixteenth
century the intervention of the State in the discipline of the Church
disturbed the only truly salutary action of the Word of God. Calvin
cleansed with pure water the gold and silver of the tabernacle, but
left on it one spot—the employment of the civil arm. We must not,
however, accuse him more than justice permits. He had to suffer
from this action of the temporal power much more than he
employed it. Since 1532 the Genevese government had set itself in
the place of the bishop. We have seen its orders to preach the
Gospel without any admixture of human doctrines. A little later it
organized the grand disputation, demanded by Bernard, and
presided over it as judge. Did it not even go so far as to remove
from the people of Thiez the excommunication pronounced by the
bishop? Elsewhere we have described how in the Swiss cantons, and
especially at Zurich and Berne, the magistrates did the same. The
intervention of temporal authority proceeded from the temporal
power. The Council of Geneva had no intention of permitting a
strange minister, a young man of Noyon, to deprive them of
prerogatives to which they clung strongly. They claimed the right to
regulate almost everything by their decrees—from the highest
things, the profession of faith, the regulation of worship, and the
government of the church, down to women's dress. Calvin often
protested against those pretensions, and on this point his whole life
was one long struggle. Far from blaming the reformer for certain
regulations he was obliged to permit, we should praise him for the
firmness with which he maintained, more than any other teacher of
the sixteenth century, the great principles of the distinction between
what is temporal and what is spiritual.[852]
=RESULTS OF HIS TEACHING.=
But he contributed still more forcibly by his direct teaching to
scatter the seeds of a true and wise liberty among the new
generations. Doubtless the sources of modern civilization are
manifold. Many men of different vocations and genius have labored
at this great work; but it is just to acknowledge the place that Calvin
occupies among them. The purity and force of his morality were the
most powerful means of liberating men and nations from the abuses
which had been everywhere introduced, and from the despotic
vexations under which they groaned. A nation weak in its morals is
easily enslaved. But he did more. How great the truths, how
important the principles that Calvin has proclaimed! He fearlessly
attacked the papacy, by which all liberty is oppressed,[853] and which
during so many centuries had kept the human mind in bondage; and
broke the chains which everywhere fettered the thoughts of man. He
boldly asserted 'that there is a very manifest distinction between the
spiritual and the political or civil governments.'[854] He did more than
this: the aim of his whole life was to restore the supremacy of
conscience. He endeavored to re-establish the kingdom of God in
man, and succeeded in doing so not only with men of genius, but
with a great number of obscure persons. These were the men who,
resolving to obey God above all things, were able to resist the
instruments of the pope, the Valois, Philip II., Alva, and their
imitators. While maintaining their liberty as regards faith, those
noble disciples of the Gospel—men such as Knox, Marnix de Sainte-
Aldegonde, and a multitude of other Christian heroes—learnt to
maintain it in earthly matters.[855] Such was the principal gate by
which the different liberties have entered the world.
 Calvin did not confine himself to theories: he pronounced frankly
against the despotism of kings and the despotism of the people. He
declared that 'if princes usurp any portion of God's authority, we
must not obey them;'[856] and that if the people indulge in acts of
mad violence, we should rather perish than submit to them. 'God
has not armed you,' he said, 'that you may resist those who are set
over you by Him as governors. You cannot expect He will protect
you, if you undertake what He disavows.'[857] Nevertheless Calvin
taught men to love such eternal blessings, and said that it was
better to die than to be deprived of them. 'God's honor,' he declared,
'is more precious than your life.' And from that hour we see those in
the Netherlands and elsewhere, who had learnt at Geneva to
maintain freedom of conscience, acquiring such a love for liberty
that they claimed it also for the State, sought it for themselves, and
endeavored to give it to others. Religious liberty has been, and is
still, the mother of every kind of liberty; but in our days we witness
a strange sight. Many of those who owe their emancipation in great
part to Calvin, have lost all recollection of it, and some of them insult
the noble champion who made them free.
Still, the establishment of temporal liberty was not the reformer's
object: it flows only from his principles, as water from a spring. To
proclaim the salvation of God, to establish the right of God—these
are the things to which he devoted his life, and that work he
pursued with unalterable firmness. He knows the resistance that
men will oppose to him: but that shall not check his march. He will
batter down ramparts, bridge over chasms, and unflinchingly
trample under foot the barriers which he knows are opposed to the
glory of God and the welfare of man. Calvin has a correct,
penetrating, and sure eye, and his glance takes in a wide horizon.
He resists not only the chief enemy, popery, but generously opposes
those who seem to be on his side and pretend to support him: there
is no acceptance of persons with him. He discerns manifold and
grave errors hidden under the cloak of reform—errors which would
destroy from its foundation the edifice to whose building, those who
teach them, pretend to give their help. Whilst many allow
themselves to be surprised, he discovers the small cloud rising from
the sea; he sees the skies are about to be darkened and filled with
storms, thunder, and rain. At the sight of these tempests he neither
bends nor hides his head: on the contrary, he raises it boldly. 'We
are called,' he says, 'to difficult battles; but far from being
astonished and growing timid, we take courage, and commit our
own body to the deadly struggle.'
That man had occasioned astonishment at first by his youthful air
and the weakness of his constitution; but he had no sooner spoken
than he rose in the eyes of all who heard him. He grew taller and
taller, he towered above their heads. Every man presaged in him one
of those mighty intelligences which carry nations with them, gain
battles, found empires, discover worlds, reform religion, and
transform society.
Calvin teaches in Geneva, he writes to those far beyond its walls.
And ere long we see something new forming in the world. A great
work had been commenced by the heroic Luther, who had a
successor worthy of him to complete it. Calvin gives to the
Reformation what the pope affirms it does not possess. There is a
noise and a shaking, and the dry bones meet together. The breath
comes from the four winds, the dead live and stand upon their feet,
an exceeding great army. The Church of Christ has reappeared upon
earth. From the bosom of that little city goes forth the word of life.
France, Switzerland, the Netherlands, Germany, England, Scotland,
and other countries hear it. A century later, that same word, borne
by pious refugees or faithful missionaries, shall become the glory
and strength of the New World. Later still, it shall visit the most
distant isles and continents; it shall fill the earth with the knowledge
of the Lord, and shall gather together more and more the dispersed
families of the world round the cross of Christ in a holy and living
unity.
=A COUNCIL MINUTE.=
On the 5th of September, 1536, the Council of Geneva ordered
these words to be written in their public registers:
 'Master William Farel explains that the lecture which that
Frenchman had begun at St. Pierre's was necessary; wherefore he
prayed that they would consider about retaining him and providing
for his support. Upon which it was resolved to provide for his
maintenance.'
On the 15th of February, 1537, they gave six crowns of the sun,
and afterwards a cloth coat, to 'that Frenchman' recently arrived,
and whose name it would seem they did not know.[858] Such are the
modest notices of the young man in the public records of the city
which received him. In a few years that name was sounded all over
the world; and in our time a celebrated historian—impartial in the
question, as he does not belong to the churches of the Reformation
—has said: 'In order that French protestantism [we might say
"protestantism" in general] should have a character and doctrine, it
needed a city to serve as a centre, and a chief to become its
organizer. That city was Geneva, and that chief was Calvin.'[859]

[841] Preface to Calvin's Commentaire sur les Psaumes.

[842] 'Il me fit connaître aux autres.'—Preface to the
Commentaire sur les Psaumes. In the Latin edition, 'Statim fecit
ut innotescerem.'
[843] Letter to Chr. Fabri, 6th June, 1561.
[844] Beza, Vie de Calvin.
[845] Calvin, Préface des Psaumes.
[846] Ibid.
[847] Beza, Vie de Calvin.
[848] 'Ac si Deum violentem mihi e cœlo manum injiceret.'—
Calvin.
[849] 'Piqûres.' The word is Calvin's.
[850] Calvin.
[851] 'In ipso itinere Ecclesias multas offendo quibus immorari
aliquantisper rogor.' Calvin to Daniel, 13th October, 1536.
Offendo should here be taken in the sense of 'to meet,' rather
than 'to hurt.' See Cicero, Fam. ii. p. 3.
[852] On this subject Mons. A. Roget has put forward just
views and authentic facts in his writing entitled, L'Eglise et
l'Etat à Genève du vivant de Calvin.
[853] Calvin, Institution chrétienne, liv. iv. ch. 7.
[854] Calvin, Institution chrétienne, liv. iv. ch. 22.
[855] 'What is the principle of our strength?' asked an
eloquent Dutch writer not long ago. 'I will tell you: it is in our
origin. We are the offspring of the Geneva of Calvin.'—La
Hollande et l'Influence de Calvin, par M. Groen van Prinsterer,
conseiller d'Etat. La Haye, 1864.
[856] Calvin, Comment. sur Matth. xxii. 21.
[857] This was addressed to those who were exciting the
protestants of France to acts of violence. See Calvin's letters to
the Church of Angers, April 1556, and other letters.
[858] Registres du Conseil des 13 Février 1537, 13 et 20
Septembre 1541.
[859] Mignet, La Réformation de Genève, p. 10.
530 BROADWAY, NEW YORK,
November, 1875.
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