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Updated: May 18, 2025
The only possible answer to each one of these questions at present is guessing and an estimate. But the only way in which a conception of the American social future may be reached lies through their discussion. Let us begin by considering what constructive forces may exist in this new plutocracy which already so largely sways American economic and political development.
Whence but from the system that produces them, through the men who control that system! The plutocracy exercises its power over the channels of public opinion in two ways, the first, by a direct or business office control; and second, by an indirect or social prestige control. The business office control is direct and simple. Schools, colleges, newspapers, magazines and churches need money.
But toward the close of the eighties the diminished bitterness of feeling between North and South left the people free to align themselves on the new issue, which had been steadily looming up ever since the war, as the irrepressible conflict of the near future the struggle to the death between democracy and plutocracy, between the rights of man and the tyranny of capital in irresponsible hands.
The ideal of Oneness can never be realized in a State which permits a single class to enjoy privileges of its own at the expense of all other classes; and it makes no difference whether this class belongs to the Proletariat or to the Plutocracy. Equality before the law, and justice, are the two eternal instruments for establishing the true Democracy.
I am, as you are, a democrat and a citizen of Europe; and my friends and I had grown to loathe the plutocracy and privilege which sat in the high places of our country with a loathing which we thought no love could cast out. Of these rich men I will not speak here; with your permission, I will not think of them.
A hundred years has sufficed to promulgate ideas of the sacredness of private property that place its preservation and protection among the chief duties of man. Economic organization; the control of all important branches of public affairs, and the elevation of property rights to a place among the beatitudes by these three means was the authority of the plutocracy established and safeguarded.
Was this idea which inspired so much of the finest and most generous thought of the eighteenth and nineteenth centuries a wrong idea, and must we go back to Caesarism or oligarchy or plutocracy or a theocracy, to Rome or Venice or Carthage, to the strong man or the ruler by divine right, for the political organisation of the future? My answer to that question would be an emphatic No.
Henceforth, no one need ask whether the United States should or should not be an imperial nation. There remained only the task of determining what form American imperialism should take. The Great War rounded out the imperial beginnings of the United States. It strengthened the plutocracy at home; it gave the United States immense prestige abroad.
The truth of the matter is really quite simple. An aristocracy is a secret society; and this is especially so when, as in the modern world, it is practically a plutocracy. The one idea of a secret society is to change the password.
One day they will rise in their wrath and seize by the throat this knavish plutocracy which, confident in the power of its wealth to procure legal immunity and reckless of its danger, persists in robbing the public daily. But retribution is at hand.
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