Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-11-19
THE PLUTOCRATS
May Some Day Do Something that Will
Arouse the Whole Republic, When
They viii be
OTerthrowa as Slavery Was, and Just as
Ruthlessly-They are Sowing the
Wind to Reap the Whirlwind.

The London Spectator commenting on the
remarkable letter OF the London Times
Philadelphia correspondent, published on
tuesday, says it illustrates what is believed
IN America TO be the greatest or, at least, the
most immediate of American social dangers
the growing prominence OF the plutocratS,
and the growing jealousy with which they
are regarded. We have nothing IN England
quite like the American millionaire. We
have rich men on this side, but, with the
possible exception of the Rothschilds, who
are not English, and OF whose position nc
body knows anything accurately, our mil
lionaires are not so rich, and are not go
prominent in the national life, and are not
inclined to devote themselves solely to af-
fairs. Nobody hears much OF Lord Over
stone, perhaps of all British subjects the
man with the largest available resources;
and the Lesser millionaire, men
with from e2,000O00 10 $4,000, 900,
either found families" process which
involves large purchases of land and COM
parative obscurity; or take 10 art and Gull
ture; or, like Sir L. Brassey, range them
selves into the system by accepting office.
We cannot recall man who makes himself
very visible by his use OF money alone, and
still less one who makts himself obnoxious.
Baron Grant wanted to do the former, but
did not succeed, and now is only recommend
ed by Emma Nine shareholders, and the
| Londoners in rusty coats who sit about
on his seats and enjoy the dreary liveliness
of Leicester Square. In America, however,
THE MILLIONAIRE IS WHAT KING is IN EU-
ROPE
AN object always Of perpetual notice, snd
often OF fanatical detestatiou. Owing partly
TO the immense spaces, partly to the diffu-
sion OF wealth, and partly 10 habit, almost
all great undertakings in the American
Union, ard more especially undertakings in
the interest OF communication, are carried on
nomiually by corporations, and these cor
poratious tend to fall under Individual con-
troll. The Americans, 10 begin with, prefer
the presidential system to the parliamentary
in all thinge, and leave TO individuals whom
we should call chairmen, far more direct
power than Euglishmen usually do. They
do not use, moreover, the checks by which
we habiiually prevent single men from
monopolizing stock in any concern, and then
governing IL at their own discretion. The
notion of one man owning all the shares
in the Bank of Englsu1, and appoint
ing all the director, would horrify English
men. An American with a great fortune
can buy iOInt-stoek bank, or railway
line, or great telegraph system, and govern
| it as he pleases; and he has many tempta-
lions TO do it. He wants occupation, and he
wants power, and he wants status; and the
control, cay, of a railway, with its stocks,
lis contracts, its patronage and its impor-
lance to State governments gives him all he
wishes Tor, besides a prospect, if he man
ages it, of indefinitely increasing his "pile."
WHAT AMERICANS WANT WITH COLOSSAL
FORTUNES
we can hardly imagine, for they get little
| that Englishmen think pleasant out of them;
| but they do want them, and set before them
| selves pecuniary ideals which to English men
seem fabulous. Capitalists who should know
| tell US that Mr.. Stewart, with $4,000 900,
was not the richest American alive, one
man, at least, possessing much heavier
| impediment TO carry on his road to heaven.
With million and few sixpences an En-
| glishman is Inclined 10 retire and pursue
his tastes in quiet; but an American is just
| beginning to Operate" on the grand scale,
| and with a sense of power and freedom
With that money he begins TO use his brains.
An American millionaire, therefore, often
makes himself master of some grand con-
Germ, or group Of concerns, and is thence
forward a sort OF king, governing as he
pleases, pushing his "policy" IS against
other "policies," lighting huge corpora
tions, d, fyiug the public, with which
he il sure, aanner or later, TO come into
collision, corruptlng State g0vsrunc sfr'y dnd
even Influencing the government OF the Re-
public. He occupies the position al once OF
great company aud great aristocrat, and
as he has usually as few bowels a COM
pany, and il as seli-centered as the great
arisioc- Al, he is hated as neither is hated in
this country. And there is often cause for
hate.
THE TELEGRAPH MONOPOLY.
Nothing can be more vexatious 10 a COM
munty than that single man should con-
troll all telegraph lines OF the continent, a.
is nearly the case in America, or should be |
able 10 make or destroy entire cities, couu-
Lieg, and methods of industry, by altering |
railway routes or rates - things entirely |
within Mr.. Vanderbiit's power, or Mr.. Jay |
Gould's-ihroughout great Safes; or not |
only own, bat insist on doing tbs repairs for |
half city, like Mr.. Aston in New York.
A feeling grows up that the individual |
should be made responsible for the use OF |
such gigantic power, even though il be de- |
rived from properly, just as it would grow |
up here in The Grosvenors, the Russells or |
the Bsntinck ladies used the enormous pow |
ers Ia their hands through their ownership |
of West London in any whimsical way. Re- |
spect for property ID stronger here than In |
the Union; but just let the Duke Of West |
minister order his tenants as the leases fall In |
to paint all their houses black. This feeling |
is more bitter sgainsi individuals than cor |
porations-naturally because the latter Gre
ate 'ess sense of Individual and unreasoning |
will; md in America it rises TO such nights |
that the most prominent millionaires-Mr. |
Vanderbilt and Mr.. Jay G5uld-are in |
nearly as much danger from dynamite IS
or !insry European kings. OF course any |
appearance of absolutisn, and especially of |
colrsely cynical absolutism, for their man |
agement deepens the feeling, both on its |
good side and its bad, rousing mere envy |
into hatred while it gives to the hatred the |
excuse of patriotism. We can well believe, |
there fore, that Whes, few days since; Mr.. |
w. H Vanderbilt, in presence OF an "inter-
VIEWER believed By bis readers to be trust |
WORTHY, openly damned the public" and |
declared that snti-mcnopolis,s "don't come |
SO HIGH" but are always purcAasable at rea- |
sonable figures, all America began discussing |
his position.
THE REMEDY.
for this state OF sffairs is not very easy to |
fiud.. That public feeling in America will |
grow more bitter we have little doub,, a.
little as that respect for property will not of |
itself check remedial action. Some of our |
readers may think that unreasonable; but |
If one Of these Americans came over here |
and slut the Bank of England, or bought all |
its shares, as he easily might, or produced /
"Black Friday" every year by withdraw
ing gold, as be also easily might, or Knocked |
all Investments to pieces by perpetually |
"cornering" consols, which is not so impossi- |
BILE az il looks, we doubt If English scruples |
about legislation sgainst individuals wond |
be irremovably strong; and Americans RI |
gard the "people" anu the country" as our |
leZilims.s regard the king. Theg some |
times lecl as IL lDcfe were lTSaeOnJ HiiFiC VIC |
should see only opprsssivepess. But 10 say |
that they will at last do some hing is nos 10 |
discern the method they will adopt.
much sharper statute If distributions |
for properties exceeding 10000 o, s. AZURE |
absolutely compelling division on pain OF |
lhs State stepping in as heir, would palliate |
the evil, for it takes two generations 10 make |
fortunes colossal and to place them 10 young |
hands; and such q statute would not be
wholly inconsistent with American senli-
meni. They DO not actually legislate against |
wills, but luries very often upset them upon
grounds which are really reasons Of public |
sentiment An easier way would be to create
a board of control for gigantic concerns, just
as We did for the East India Company and
have done recently for the collective railway
interest; but the
AMERICANS ARE HAAdPERED By THEIR CON-
sTITUTIoN.
When evils rise 10 4 certain hight the popu-
lar will has nothing to act through. 1t is
very difficult for single State to act, in the
lace of the clauses in the constitution about
bresch OF contract and special taxes, and we
are not certain Of he right OF the Central
Congress. We do not ourselves see anything
in The constitution OF the Union which
should forbid Congress to expropriaie with
any property whatever which
it is Of national importance that the nation
should possess; and the power oil exproprIa-
ton Implies rights of control IN the public