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 of Tiberius is that they presided over the passage from the destructive to the reorganising phase with their wise, prudent, apparently inactive policy. The transition, like all transitions, was difficult; the disintegrating forces were not yet exhausted; the upbuilding forces were still very weak; the world of the time was in unstable equilibrium, violent perturbations certainly yet possible. Without doubt, it is hard to say what would have happened if, instead of being governed by the policy of Augustus, the world had fallen into the hands of an adventurous oligarchy like that which gathered around Alexander the Great; but we can at least affirm that the sagacity and prudence of Augustus, which twenty centuries afterward appear as inactivity, did much to avoid such disturbances, the consequences of which, in a world so exhausted, would have been grave.

Nor is it correct to believe that this policy was easy. Moderation and passivity, even when good for the governed, rust and waste away governments, which must always be doing something, even if it be only making mistakes. In fact, while supreme power usually brings return and much return to him who exercises it, especially in monarchies, it cost instead, and unjustly,