Essay
Culture
7 min read

Praying with Jane Austen

From Elizabeth Bennet to Emma, Jane Austen’s heroines often consider their own character then change. As the anniversary of the novelist’s birth approaches, Beatrice Scudeler explores their author's prayers.

Beatrice writes on literature, religion, the arts, and the family. Her published work can be found here

A head and shoulders portrait of a young woman inclining her gaze to one side.
Portrait of a Young Woman in White, 1798, Jacques-Louis David.

In his essay ‘A Note on Jane Austen’, C. S. Lewis argues that the heroines in each major Austen novel go through a process which he terms ‘undeception’, leading them to ‘discover that they have been making mistakes both about themselves and about the world in which they live.’ This can take the form of self-analysis, or of a more explicitly Christian examination of conscience. Elizabeth Bennet or Catherine Moreland may not be constantly described praying, for instance, but they certainly engage in a healthy amount of self-examination. On the other hand, we have a much more explicitly Christian example of repentance in the character of Marianne Dashwood in Sense and Sensibility, who, after her abandonment by Mr. Willoughby, and having just recovered from a dangerous illness, confesses to her sister that is grateful to have been given the chance to repent and ‘have time for atonement to my God.’ But what about Austen herself? What was the role of self-examination in her own life?  

I got my answer earlier this year, when my husband and I went on a Jane Austen prayer retreat at the charming vicarage of Edenham, Lincolnshire. When not engaged in prayer, we spent our time learning about and discussing Austen’s faith, which she practised devoutly throughout her life as the daughter of an Anglican clergyman. Austen’s life was immersed in prayer.  

According to Fr. Ed Martin, who hosted the retreat, the Austens would have read through all of the Old Testament once in a year, the New Testament twice in a year, and the Psalms once each month. What’s more, Fr. Ed estimated that, once personal devotion and church services were accounted for, Austen would have prayed the Lord’s prayer about 30,000 times over her the course of her life. 

I was also delighted to learn more about one of only twenty books that we know with certainty to have been in Austen’s personal collection – A Companion to the Altar by William Vickers. Austen’s copy, signed 1794, resides at the Princeton University Library; according to Irene Collins, whose book Jane Austen: The Parson’s Daughter (1998) I highly recommend, Austen made regular use of Vickers’ book, which was meant as a guide for Anglicans to prepare themselves spiritually to receive Holy Communion.  

I was intrigued to read A Companion to the Altar for myself. What stood out to me is Vickers’ emphasis on self-examination and repentance as crucial to one’s spiritual life, especially leading up to Sundays when a communion service was going to happen. This struck me as being very much in keeping with the experience of the heroines in Austen’s novels which Lewis details in his essay on Austen. 

These three prayers also reveal that, for Austen, the key to a virtuous life resides not in blindly sticking to a set of moral rules, but rather in cultivating one’s character. 

While thinking about these ideas of examination of conscience and repentance, I was reminded that, thanks to her sister Cassandra, three of Jane Austen’s own prayers have survived. They were penned by Austen as an adult, judging by the handwriting, and would have been written for the purpose of personal or family devotion, especially on a Sunday evening. These three prayers, though brief, reflect – and even clarify – so many of the issues that Austen returns to again and again in her novels: the danger of pride, the necessity of repentance and humility, and more generally, a call to lead a virtuous life. For example, in the third prayer she writes: 

Incline us oh God! to think humbly of ourselves, to be severe only in the examination of our own conduct, to consider our fellow-creatures with kindness, and to judge all they say and do with that charity which we would desire from them ourselves. 

This passage could have been written for Emma Woodhouse herself! After the disastrous trip to Box Hill, where she deeply embarrasses Miss Bates in front of their friends, we are told that the normally confident and even haughty Emma admits that ‘She had often been remiss, her conscience told her so’ and, after much reflection, she experiences ‘the warmth of true contrition.’ Nor does this call to humility apply solely to Austen’s female characters.  

While Lewis does not extend his concept of ‘undeception’ to Austen’s heroes, this is clearly what happens to Mr. Darcy by the end of Pride and Prejudice, so much so that, once he has realised the extent of his past pride, he tells Elizabeth, ‘By you, I was properly humbled.’ Similarly, in Persuasion Captain Wentworth admits to Anne Elliot that if he had not been ‘too proud’, their separation need not have been so long, and they might have been able to get married and begin a life together much sooner.  

These three prayers also reveal that, for Austen, the key to a virtuous life resides not in blindly sticking to a set of moral rules, but rather in cultivating one’s character, starting by training one’s disposition through habitual practice of certain key virtues like charity, patience, and humility. As Alasdair Macintyre notes in his seminal philosophical work After Virtue (1981), Jane Austen follows ancient philosopher Aristotle in thinking that ‘Virtues are dispositions not only to act in particular ways, but also to feel in particular ways.’ Therefore, a moral education is not simply about doing what’s right whether you feel like it or not. Rather, it’s an ‘education sentimentale’: it’s about becoming morally mature enough to do the right thing not because you have to, but because you want to. Let me quote here a key passage from the first surviving prayer, in which Austen is asking God for forgiveness and guidance: 

Look with Mercy on the Sins we have this day committed, and in Mercy make us feel them deeply, that our Repentance may be sincere, & our resolutions steadfast of endeavouring against the commission of such in future. Teach us to understand the sinfulness of our own Hearts, and bring to our knowledge every fault of Temper and every evil Habit in which we have indulged to the discomfort of our fellow-creatures, and the danger of our own Souls. May we now, and on each return of night, consider how the past day has been spent by us, what have been our prevailing Thoughts, Words, and Actions during it, and how far we can acquit ourselves of Evil. Have we thought irreverently of Thee, have we disobeyed thy commandments, have we neglected any known duty, or willingly given pain to any human being? Incline us to ask our Hearts these questions Oh! God, and save us from deceiving ourselves by Pride or Vanity. 

Everything about Austen’s petitions to God in this prayer revolves around the formation of a virtuous character. First of all, she wishes that her ‘repentance’ may be ‘sincere’, and her ‘resolutions’ to lead a more virtuous life ‘steadfast.’ But how are we to achieve such sincere repentance? For Austen, it is through the examination of our disposition. She invites God to bring to her knowledge ‘every fault of Temper and every evil Habit’ in which she has ‘indulged’. As you can see, the focus here is not on resolving never to do one specific ‘bad’ thing again; rather, it is on getting rid of bad habits, so that you will not even be tempted to do that bad thing in the future. This becomes even clearer in the final section I quoted: ‘Incline us to ask our Hearts these questions Oh! God, and save us from deceiving ourselves by Pride or Vanity.’ Achieving virtue is a matter of a sentimental education, in the sense of having the right feelings; for Austen, a devout Christian, this can only happen with God’s aid. Both Lewis and Macintyre, then, got it right. Lewis is right that Jane Austen is deeply concerned with the fictions which we tell ourselves, and which lead us away from goodness. She asks God to save her from ‘deceiving’ herself by ‘Pride’ and, like Lewis shows, whenever one of her heroines falls precisely into this trap, a process of ‘undeception’ always takes place. But Macintyre is also right in pointing out that undeception cannot take place until we train our ‘Hearts’, not just our heads, into a habit of virtue.  

What both Macintyre and Lewis guessed from Austen’s novels, we can experience and understand more directly by reading Austen’s prayers. We learn from her direct addresses to God how seriously she took the sin of pride, and how highly the virtue of humility ranked for her. We learn that no true repentance can happen without regular self-examination and confidence in God’s forgiveness. We learn that true virtue can only be gained through habit, and that constancy in practising virtues like humility and charity is crucial, even in the face of our own mistakes. If you are already someone of faith, I urge you to read Austen’s prayers and make use of them in your prayer life. If you don’t consider yourself a Christian, I urge you to read her prayers nonetheless: you may find they help you on your way to the kind of self-examination, without which none of Austen’s heroes or heroines could have achieved happiness. 

Article
Culture
Economics
Ethics
6 min read

The rights and wrongs of making money with meme coins

When does investing become speculating, or even addictive gambling?
A montage shows Trump with a raised fist against other images of him and the phrase 'fight fight fight'.
$Trump coin marketing image.
gettrumpmemes.com,

Donald Trump’s “liberation day” tariffs may have driven sharp swings in global financial markets, but his actions in markets a few months earlier were in some ways even more peculiar.

On the Friday before his inauguration as the 47th US President in January, the Republican surprised many with the launch of the $TRUMP memecoin, described by its website as “the only official Trump meme”. The cryptocurrency token, in which Trump’s family business owned a stake, initially soared in value to more than $14bn over that following weekend. 

Then, on the Sunday, Trump’s wife Melania launched her own memecoin, $MELANIA, which reached a value of $8.5bn. Even the pastor who spoke at the president’s inauguration subsequently launched his own memecoin. 

For those wondering what exactly a memecoin is, you are not alone. In short, they are a form of cryptocurrency - an asset class that itself has attracted plenty of questions about its substance and purpose - representing online viral moments. They have no fundamental value or business model and, according to the US securities regulator, “typically have limited or no use or functionality”. 

Donald and Melania Trump’s coins subsequently plunged in price, but still have a value of around $2.5bn and $214mn respectively, according to website CoinMarketCap. 

There are plenty of others in existence. PEPE, based on a comic frog, has a value of around $3.6bn; BONK, a cartoon dog, has a market cap of $1.5bn; and PNUT, a reference to a squirrel euthanised by authorities in New York and about which Trump was allegedly “fired up” (although doubt has since been cast on the president’s involvement in the matter), is still valued at around $174mn, despite having fallen sharply in price.  

Dogecoin, seen as the world’s first memecoin and originally created as a joke, boasts a market value of around $25bn. (There are other memecoins which may not be suitable for these pages). 

Some people’s willingness to buy an “asset” with no use or fundamental value may seem strange to more traditional investors. But it can be viewed as just one manifestation of the speculative investor behaviour evident since the onset of the coronavirus pandemic and, indeed, at times throughout history. 

The price of Bitcoin recently rose above $100,000, despite many investors still viewing it as having little or no value (in 2023 the UK’s Treasury select committee described cryptocurrencies as having “no intrinsic value, huge price volatility and no discernible social good”). In early 2021, shares in GameStop - a loss-making US video games retailer that some hedge funds were betting against - rocketed as much as 2,400 per cent, as retail investors piled in, many with the aim of inflicting pain on the hedge fund short sellers (in that respect at least, a highly successful strategy that became the subject of the film Dumb Money). The huge rise in AI and other tech stocks in recent years - until the recent tariff-driven volatility - has also been described as a bubble by some commentators. 

Whether or not such episodes can be compared to infamous bouts of speculative mania in history depends on your point of view (and often can only be judged with the benefit of hindsight) - be it the 17th century Dutch tulip bulb mania, shares in the South Sea Company in the 18th century or the dotcom boom and bust of the late 1990s and early 2000s. 

But it does give rise to the question of when investment should start to be described as speculation or even as gambling? And what are the rights and wrongs of any of those activities? 

There can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources... 

Gambling can be thought of as risking a stake on, for instance, the result of a game of chance or sport in the hope of a bigger payout. While often the result is purely down to chance, in some cases a strategy or an element of research (for instance of a horse or football team’s form) can be used. Investment, in contrast, tends to involve purported economic utility and assets believed to have some sort of underlying value, and holds the hope of future profit (although there are also plenty of bad investments or those that have gone to zero). While an investor must be prepared to lose their entire stake, in some cases such an event is relatively unlikely (for instance, if they buy a fund tracking the performance of a major stock exchange). Speculation is harder to define, but is generally seen as shorter term than investment, with more chance of a bigger gain or loss, and dependent on price fluctuations. Rightly or wrongly, the term has a more negative connotation than investment. 

One writer who explored the ethics of these activities was Oswald von Nell-Breuning, a Jesuit theologian and economist who served as an adviser to the Pope and who was banned from publishing under the Nazis. 

While he found that “one general definition cannot capture all the nuances” of speculation, he identified two different types of speculative activity - one that was purely trying to make a profit from financial market trading, and one based on trying to create a viable business. (See this article in the Catholic Social Science Review for a fuller explanation of Nell-Breuning’s views on speculation). 

As the CSSR article shows, Nell-Breuning found that there can be positive effects from speculation - one might think of better liquidity and price discovery in a market, while, in commodity futures markets, speculators allow producers to hedge risk

But he also argued that there can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources away from production. 

And whereas gambling typically takes place within a circle of players who have chosen to take part, speculation, he wrote, can affect a greater portion of society - for instance, if it affects the price of shares or bonds they hold. 

The Bible - on which Nell-Breuning’s faith and analysis was based - does not take a prescriptive approach to such activities. But it does provide some interesting guidance.  

An entrepreneurial approach to business and investment is applauded, for instance when the writer of the book of Proverbs (traditionally believed to be King Solomon) praises the virtues of “an excellent wife”. These include investing in a field and using her earnings from business to plant a vineyard, and feeding her family from her gains. 

Jesus tells a story of a master who, before going on a journey, gives his property to his servants, each according to their ability. To one he gives five “talents” (a large unit of money), to a second two and to a third servant he gives one. 

The first servant trades with his talents and makes five more talents - a 100 per cent profit - and is applauded by the master on his return. The second servant also trades and similarly makes two more talents and is again applauded. 

But the third servant, being afraid and believing the master to be “a hard man”, hides the money in a hole in the ground. He is condemned as “wicked and slothful”, and told that he should at least have put the money in the bank. 

While Jesus’s story may primarily be about how we view God’s nature, how we use our God-given abilities and whether or not we can take risks in faith for Him, it is also hard not to see investment and indeed wise speculation as being virtuous activities here. Putting the money into a bank account is, in this story anyway, more of a fallback option. 

But the Bible also warns us against putting money above all else in our lives. The love of money is, famously, a root of all sorts of evil, while we are also told to be content with what we have, and that “wealth gained hastily will dwindle”. 

Nell-Breuning similarly warns that a “get-rich-quick” mindset, when this is placed above all else, can be harmful, and advises caution in situations where the lure of big profits can lead the speculator into market manipulation or fraud. 

After all, both gambling and crypto trading have the potential to become dangerous and damaging addictions needing treatment

Ultimately, Nell-Breuning struggled to come to a simple conclusion on the question of whether speculation, in and of itself, is morally wrong. It is, he wrote, a judgment call for those involved. 

When making such decisions ourselves, his - and the Bible’s - warnings may be worth bearing in mind.