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a democratic state turns to absolute monarchy, the activity which was before directed to public and to private affairs is all at once centred upon the latter: the immediate consequence is, for some time, great physical prosperity; but this impulse soon slackens, and the amount of productive industry is checked. I know not if a single trading or manufacturing people can be cited, from the Tyrians down to the Florentines and the English, who were not a free people also. There is therefore a close bond and necessary relation between these two elements,—freedom and productive industry.

This proposition is generally true of all nations, but especially of democratic nations. I have already shown that men who live in ages of equality continually require to form associations in order to procure the things they covet; and, on the other hand, I have shown how great political freedom improves and diffuses the art of association. Freedom, in these ages, is therefore especially favourable to the production of wealth; nor is it difficult to perceive, that despotism is especially adverse to the same result.

The nature of despotic power in democratic ages is not to be fierce or cruel, but minute and meddling. Despotism of this kind, though it does not trample on humanity, is directly opposed to the genius of commerce and the pursuits of industry.