Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-01-27
CONCENTRATED WEALTH.


Beyond all reasonable doubt, the most uncompro-
missing foe to the welfare, happiness, and liberty Of
the American people, is concentrated wealth 1t
has in all ages Of the world, been the policy Of the
oppressors Of mankind so to shape the institutions
Of government as to concentrate wealth in as few
hands as possible. On the other hand the advocates
Of popular freedom have always made unWearied
efforts to diuse it as broadly as possible, by every
means in their power compatible with the rights Of
property and the wages Of industry.
In the rObber-made governments Of the old world,
wealth is prodigiously concentrated, and what are
the consequence The few are enormously rich,
the millions are missrably POOR consequently, the
few are the masters the many are slaves. By this
policy the most mOnstrous tyranny is perpetuated by
kngiy and sristocratical governments An opposite
policy would prove the most disastrous conssqu
TO the oppFessOrs Of humanity and they, therefore,
50 shape their laws and governmental institutions
generally, TO perpetuste their system Of tyranny
and injustice Like causes produce similar effects.
If enact partial laws in favor Of wealth, charter
corporations which heap up vast aggregations Of
capital in few hands, it is easy to see that some
ruinOus consequences to liberty and happiness viii
ensue.
InEngland said to be the freest country in Europe
wealth is oppressively concentrated. Her laws are
all partal-and calculated TO- benefit the few to the
injury ef the many. She has a numerous titled
nobility, created by law and possessing large es-
tates wrested from the people by unjust legislation.
She also has her laws Of entail and primogeniture,
likewise her stupendous system Of corporations and
numerous other enaotments, equally as unjust and
oppressive as the former, which necessarily tend to
the concentration Of wealth.
The shocking effects Of this legalized plan Of rob
berry, are plainly obvious in this fine country.
The great portion Of her population, than whom
there no more industrious people on the face
Of the earth, reduced to abject poverty. Every
fifth person is said to be pauper.
In other countries wealth is still more alarmiugly
concentrated than it is in England Not only is the
property Of the people taken from them in Russia,
buteven their persons are disposed Of by law. They
are lawful slaves Of the nobility.
So well convinced we're the trainers of our Re-
publican Institutions Of the evil effects of concen-
trated wealth, that with few exceptions, they Ia.
bored industriOusly to guard against them by every
means in their power. They made this Government
essentially popular in its character, not doubling
but the people would protect their rights from the
assaults of the enemies Of free institutions. But
they we're mistaken They did not attach sufficient
clnsequence to the mighty power of avarice, and
we're not IS particular they otherwise would
have been, to guard against its maign influences
The consequence is that this enemy Of free govern
ment has already made fearful inrosds upon the
liberties Of the people; unless its onward movements
re soon arrested, 1t is very certain that the time
IS not very distant when wealth will be as much
concentrated here as it is now in the monarchical
countries.
AT this time, our corporation system, fac yimj5s
OK the English the inevitable tendency Of which is
ID concentrate wealth with the utmost rspidity, has
resdy obtained vast power, which is rapidly on
the increase. In few years more, if its progress
unimpeded, il viii become as uncomfortable in
this Republic as in Europe. We believe there is
laessme tendency in wealth. that there is in power,
steal from the many to the few, even under the
most unfavorable circumstances; but when these
circumstances are reversed, when law steps in and
.vors what it ought, in every instance, to prevent
"a a government based equal rights, then is the
rOgress Of this evil rapidly increased. That such
pss been the case for series Of years in every
State in this Union, cannot be denied. And what
are the effects Of this unwise legislation third
rover, more dangerous to popular liberty than any
other, the power Of concentrated wealth, has been
created and nurtured by legislative action, which
IS already so great that it audaciously aims at the
control Of all legislation, and viii accomplish its OBJ
ects, unless its efforts promptly and efectualy
checked.