While morality was based partly on the exigencies of this society and partly demanded by the sense of guilt...

"Society was now based on complicity in the common crime; Religion was based on the sense of guilt and the remorse attaching to it; while morality was based partly on the exigencies of this society and partly demanded by the sense of guilt." pg 503

This quote has a lot of relevance to today's culture, it made me consider how prostitution and adultery is viewed in the modern times. It is considered shameful in society today. Freud is discussing how society was based the horrible crime committed, religion is based on guilt with the feeling of remorse attached to it while morality, morals are based on the demand of both society and the sense of guilt.  Indicating how guilt and remorse based on moral actions and societies reactions to it.  

This reminded me of an article in that was about how in China there was an article on how they use the sandwich-boarding technique in the form of a parade for prostitutes, thieves and other types of criminals. This is what Freud is discussing how society, in this case Chinese society, goes into how bad the crime is and how religion and society uses shame to display the wrongful action.

http://www.nytimes.com/roomfordebate/2010/7/31/china-shaming/the-shame-concept-goes-back-to-confucius