sub…title　of　the　work；〃Philosophy　of　Misery。〃　　No　category　can　be　suppressed；　the　opposition；　antinomy；　or　contre…tendance；　which　exists　in　each　of　them；　cannot　be　suppressed。
  Where；　then；　lies　the　solution　of　the　social　problem？　　Influenced　by　the　Hegelian　ideas；　Proudhon　began　to　look　for　it　in　a　superior　synthesis；　which　should　reconcile　the　thesis　and　antithesis。　　Afterwards；　while　at　work　upon　his　book　on　〃Justice；〃　he　saw　that　the　antinomical　terms　do　not　cancel　each　other；　any　more　than　the　opposite　poles　of　an　electric　pile　destroy　each　other；　that　they　are　the　procreative　cause　of　motion；　life；　and　progress；　that　the　problem　is　to　discover；　not　their　fusion；　which　would　be　death；　but　their　equilibrium；an　equilibrium　for　ever　unstable；　varying　with　the　development　of　society。
  On　the　cover　of　the　〃System　of　Economical　Contradictions；〃　Proudhon　announced；　as　soon　to　appear；　his　〃Solution　of　the　Social　Problem。〃　　This　work；　upon　which　he　was　engaged　when　the　Revolution　of　1848　broke　out；　had　to　be　cut　up　into　pamphlets　and　newspaper　articles。　　The　two　pamphlets；　which　he　published　in　March；　1848；　before　he　became　editor　of　〃Le　Representant　du　Peuple；〃　bear　the　same　title；〃Solution　of　the　Social　Problem。〃　　The　first；　which　is　mainly　a　criticism　of　the　early　acts　of　the　provisional　government；　is　notable　from　the　fact　that　in　it　Proudhon；　in　advance　of　all　others；　energetically　opposed　the　establishment　of　national　workshops。　　The　second；　〃Organization　of　Credit　and　Circulation；〃　sums　up　in　a　few　pages　his　idea　of　economical　progress：　a　gradual　reduction　of　interest；　profit；　rent；　taxes；　and　wages。　　All　progress　hitherto　has　been　made　in　this　manner；　in　this　manner　it　must　continue　to　be　made。　　Those　workingmen　who　favor　a　nominal　increase　of　wages　are；　unconsciously。　　following　a　back…track；　opposed　to　all　their　interests。
  After　having　published　in　〃Le　Representant　du　Peuple；〃　the　statutes　of　the　Bank　of　Exchange；a　bank　which　was　to　make　no　profits；　since　it　was　to　have　no　stockholders；　and　which；　consequently；　was　to　discount　commercial　paper　with　out　interest；　charging　only　a　commission　sufficient　to　defray　its　running　expenses；Proudhon　endeavored；　in　a　number　of　articles；　to　explain　its　mechanism　and　necessity。　　These　articles　have　been　collected　in　one　volume；　under　the　double　title；　〃Resume　of　the　Social　Question；　Bank　of　Exchange。〃　　His　other　articles；　those　which　up　to　December；　1848；　were　inspired　by　the　progress　of　events；　have　been　collected　in　another　volume；〃Revolutionary　Ideas。〃
  Almost　unknown　in　March；　1848；　and　struck　off　in　April　from　the　list　of　candidates　for　the　Constituent　Assembly　by　the　delegation　of　workingmen　which　sat　at　the　Luxembourg；　Proudhon　had　but　a　very　small　number　of　votes　at　the　general　elections　of　April。　　At　the　complementary　elections；　which　were　held　in　the　early　days　of　June；　he　was　elected　in　Paris　by　seventy…seven　thousand　votes。
  After　the　fatal　days　of　June；　he　published　an　article　on　le　terme；　which　caused　the　first　suspension　of　〃Le　Representant　du　Peuple。〃　　It　was　at　that　time　that　he　introduced　a　bill　into　the　Assembly；　which；　being　referred　to　the　Committee　on　the　Finances；　drew　forth；　first；　the　report　of　M。　Thiers；　and　then　the　speech　which　Proudhon　delivered；　on　the　31st　of　July；　in　reply　to　this　report。　　〃Le　Representant　du　Peuple；〃　reappearing　a　few　days　later；　he　wrote；　a　propos　of　the　law　requiring　journals　to　give　bonds；　his　famous　article　on　〃The　Malthusians〃　（August　10；　1848）。
  Ten　days　afterwards；　〃Le　Representant　du　Peuple；〃　again　suspended；　definitively　ceased　to　appear。　　〃Le　Peuple；〃　of　which　he　was　the　editor…in…chief；　and　the　first　number　of　which　was　issued　in　the　early　part　of　September；　appeared　weekly　at　first；　for　want　of　sufficient　bonds；　it　afterwards　appeared　daily；　with　a　double　number　once　a　week。　　Before　〃Le　Peuple〃　had　obtained　its　first　bond；　Proudhon　published　a　remarkable　pamphlet　on　the　〃Right　to　Labor；〃a　right　which　he　denied　in　the　form　in　which　it　was　then　affirmed。　　It　was　during　the　same　period　that　he　proposed；　at　the　Poissonniere　banquet；　his　Toast　to　the　Revolution。
  Proudhon；　who　had　been　asked　to　preside　at　the　banquet；　refused；　and　proposed　in　his　stead；　first；　Ledru…Rollin；　and　then；　in　view　of　the　reluctance　of　the　organizers　of　the　banquet；　the　illustrious　president　of　the　party　of　the　Mountain；　Lamennais。　　It　was　evidently　his　intention　to　induce　the　representatives　of　the　Extreme　Left　to　proclaim　at　last　with　him　the　Democratic　and　Social　Republic。　　Lamennais　being　accepted　by　the　organizers；　the　Mountain　promised　to　be　present　at　the　banquet。　　The　night　before；　all　seemed　right；　when　General　Cavaignac　replaced　Minister　Senart　by　Minister　Dufaure…Vivien。　　The　Mountain；　questioning　the　government；　proposed　a　vote　of　confidence　in　the　old　minister；　and；　tacitly；　of　want　of　confidence　in　the　new。　　Proudhon　abstained　from　voting　on　this　proposition。　　The　Mountain　declared　that　it　would　not　attend　the　banquet；　if　Proudhon　was　to　be　present。　　Five　Montagnards；　Mathieu　of　Drome　at　their　head；　went　to　the　temporary　office　of　〃Le　Peuple〃　to　notify　him　of　this。　　〃Citizen　Proudhon；〃　said　they　to　the　organizers　in　his　presence；　〃in　abstaining　from　voting　to…day　on　the　proposition　of　the　Mountain；　has　betrayed　the　Republican　cause。〃　　Proudhon；　vehemently　questioned；　began　his　defence　by　recalling；　on　the　one　hand；　the　treatment　which　he　had　received　from　the　dismissed　minister；　and；　on　the　other；　the　impartial　conduct　displayed　towards　him　in　1840　by　M。　Vivien；　the　new　minister。　　He　then　attacked　the　Mountain　by　telling　its　delegates　that　it　sought　only　a　pretext；　and　that　really；　in　spite　of　its　professions　of　Socialism　in　private　conversation；　whether　with　him　or　with　the　organizers　of　the　banquet；　it　had　not　the　courage　to　publicly　declare　itself　Socialist。
  On　the　following　day；　in　his　Toast　to　the　Revolution；　a　toast　which　was　filled　with　allusions　to　the　exciting　scene　of　the　night　before；　Proudhon　commenced　his　struggle　against　the　Mountain。　　His　duel　with　Felix　Pyat　was　one　of　the　episodes　of　this　struggle；　which　became　less　bitter　on　Proudhon's　side　after　the　Mountain　finally　decided　to　publicly　proclaim　the　Democratic　and　Social　Republic。　　The　campaign　for　the　election　of　a　President　of　the　Republic　had　just　begun。　　Proudhon　made　a　very　sharp　attack　on　the　candidacy　of　Louis　Bonaparte　in　a　pamphlet　which　is　regarded　as　one　of　his　literary　chefs…d'oeuvre：　the　〃Pamphlet　on　the　Presidency。〃　　An　opponent　of　this　institution；　against　which　he　had　voted　in　the　Constituent　Assembly；　he　at　first　decided　to　take　no　part　in　the　campaign。　　But　soon　seeing　that　he　was　thus　increasing　the　chances　of　Louis　Bonaparte；　and　that　if；　as　was　not　at　all　probable；　the　latter　should　not　obtain　an　absolute　majority　of　the　votes；　the　Assembly　would　not　fail　to　elect　General　Cavaignac；　he　espoused；　for　the　sake　of　form；　the　candidacy　of　Raspail；　who　was　supported　by　his　friends　in　the　Socialist　Committee。　　Charles　Delescluze；　the　editor…in…　chief　of　〃La　Revolution　Democratique　et　Sociale；〃　who　could　not　forgive　him　for　having　preferred　Raspail　to　Ledru…Rollin；　the　candidate　of　the　Mountain；　attacked　him　on　the　day　after　the　election　with　a　violence　which　overstepped　all　bounds。　　At　first；　Proudhon　had　the　wisdom　to　refrain　from　answering　him。　　At　length；　driven　to　an　extremity；　he　became　aggressive　himself；　and　Delescluze　sent　him　his　seconds。　　This　time；　Proudhon　positively　refused　to　fight；　he　would　not　have　fought　with　Felix　Pyat；　had　not　his　courage　been　called　in　question。
  On　the　25th　of　January；　1849；　Proudhon；　rising　from　a　sick　bed；　saw　that　the　existence　of　the　Constituent　Assembly　was　endangered　by　the　coalition　of　the　monarchical　parties　with　Louis　Bonaparte；　who　was　already　planning　his　coup　d'Etat。　　He　did　not　hesitate　to　openly　attack　the　man　who　had　just　received　five　millions　of　votes。　　He　wanted　to　break　the　idol；　he　succeeded　only　in　getting　prosecuted　and　condemned　himself。　　The　prosecution　demanded　against　him　was　authorized　by　a　majority　of　the　Constituent　Assembly；　in　spite　of　the　speech　which　he　delivered　on　that　occasion。　　Declared　guilty　by　the　jury；　he　was　sentenced；　in　March；　1849；　to　three　years'　imprisonment　and　the　payment　of　a　fine　of　ten　thousand　francs。
  Proudhon　had　not　abandoned　for　a　single　moment　his　project　of　a　Bank　of　Exchange；　which　was　to　operate　without　capital　with　a　sufficient　number　of　merchants　and　manufacturers　for　adherents。　　This　bank；　which　he　then　called　the　Bank　of　the　People；　and　around　which　he　wished　to　gather　the　numerous　working…people's　associations　which　had　been　formed　since　the　24th　of　February；　1848；　had　already　obtained　a　certain　number　of　subscribers　and　adherents；　the　latter　to　the　number　of　thirty…　seven　thousand。　　It　was　about　to　commence　operations；　when　Proudhon's　sentence　forced　him　to　choose　between　imprisonment　and　exile。　　He　did　not　hesitate　to　abandon　his　project　and　return　the　money　to　the　subscribers。　　He　explained　the　motives　which　led　him　to　this　decision　in　an　article　in　〃Le　Peuple。〃
  Having　fled　to　Belgium；　he　remained　there　but　a　few　days；　going　thence　to　Paris；　under　an　assumed　name；　to　conceal　himself　in　a　house　in　the　Rue　de　Chabrol。　　From　his　hiding…place