Page:Inquiry into the Principles and Policy of the Government of the United States.djvu/269

Rh fnferest, though naturally friendly to man, may be corrupted by moulding it into a separate order; and rendered malignant and oppressive in a considerable degree; it is extremely improbable, that a paper, stock, or taxation interest, can be changed from a foe into a friend, by the means which convert a friend into a foe. The English have paid some regard to their principles of cheeks and balances, by leaving primogeniture, or an hereditary landed political order or faction, standing, as an offset against their monied faction; the American legislatures have paid no regard to their principles of division and responsibility, and more entirely partial to a monied faction, o!' their own architecture, have destroyed this offset, alone capable of holding a monied faction in some state of responsibility; and secured agricultural subjection to their offspring, by charters for accumulating one, and laws for dividing the other.

It is a plausible consideration against this conclusion, that the laws of distribution reach and scatter paper wealth, as laws of inheritance do landed. The following fact, settled by experience, is a conclusive answer to the objection. The English laws of distribution, by which paper wealth is divided upon principles similar to our laws of distribution, have been unable to prevent the existence of a separate, stock, paper, or taxation interest, or the ruinous effects of that existence.

Such is the fact; let us search for its cause. It presents itself in the consideration, that corporations, or factitious separate interests, neither live-nor die naturally; they only live or die by law. An established church for instance, is ft factitious separate interest, not of natural, but of legal origin, and by law only can its existence be terminated. By increasing the number of priests, and dividing the income of this separate interest among more members, the interest itself is not divided; and instead of being weakened, it is strengthened. So in a separate, stock, paper or taxation interest of any kind established by law. It is an interest one and indivisible; and though the laws of distri-