650 THE IMPENDING REVOLUTION. 



lossal fortunes of the millionaires of our great cities, their 

 gorgeous mansions, brilliant and dazzling balls and suppers, 

 and elaborate display of costly diamonds and jewels, far 

 surpassing royalty in brilliancy and costs. Thurlow Weed, 

 seeing the tendency of our government to merge into the 

 forms of monarchy said: 



"Our government does not seem strong enough to 

 assert itself. I see every day, and with more and more 

 dismay, our assimilation to English habits, English ideas, 

 and, even English costumes. There was once a time 

 when no free born American citizen would condescend to 

 wear the plush of a livened servant." When Dickens 

 wrote from Boston, in 1842, we had but few millionaires 

 and no money power. We had neither the financial 

 machinery nor the legal privileges to make them. The 

 United States bank had been swept out of existence; 

 trusts were unknown; and railroads were built and oper- 

 ated upon legitimate business principles. Distinction 

 depended upon honor and merit. There were no classes, 

 no pomp or ostentatious display. Now we are cursed with 

 all these evils. We adopted England's financial policy. 

 We loaded the people with a burdensome debt as the basis 

 of a plutocracy. We established the gold standard and 

 contracted our currency volume, which squeezed billions 

 of wealth out of the property of industry into the coffers 

 of the creditor classes. 



We created a law- favored aristocracy of wealth by the 

 establishment of the national banking system. 



We then bestowed upon it the vast credit of the 

 nation, and gave it a patent right to monopolize it for its 

 sole and exclusive benefit. To this aristocratic monopoly 

 of public credit, Congress has delegated the sovereign 

 power of the monetary prerogative. The soul of British 

 monarchy and aristocracy is enshrined in the Bank of 

 England. The soul of American democracy and inde- 



