Page:The rise, progress, and phases of human slavery.djvu/120

 or of the entire Union—is invariably distinguished by an increase of strength or latitude given to the democratic principle. This is particularly observable in the new States, where the settlers, consisting in great part of exiles forced from Europe by poverty and tyranny, have carried out with them an intense hatred of the systems they fled from, and therefore take all the democratic precautions they can to keep down the aristocratic leaven.

But not even America herself, we predict, will escape the régime of Europe, unless she reform her social institutions while she is yet young and healthy. Her agrarian laws are not a jot better than those of France or England; and her commercial spirit is even more ravenous and unscrupulous. In one respect she is worse than either. We allude to her preference of metallic money to symbolic money; which is a result of the fraudulent paper-systems she has so often smarted under. There is no subject upon which the American working-classes are so lamentably at fault as the subject of money. They fancy that an honest paper-system is impossible, because they have been so often cheated by the worthless rags of fraudulent usurers; and in this suicidal delusion the bullionists and usurers take good care to confirm them. Next to their want of sound views upon the Land question, this delusion as to the real nature and proper functions of Money is the greatest foe to American progress. On the subject of Credit—that most potent of all levers of modern production—the same ignorance prevails in America as here and in France. In truth, were it not that universal suffrage is the fundamental law in France and America, while it is scouted in England, we should be at a loss to know what advantages the French and Americans possess over us, so deplorably similar are the three countries in respect of social rights.

But we shall better comprehend these matters when we come to analyze the propositions of the National Reform League, and to test their value by showing their equal applicability to, and desirability for, all three countries,—indeed, for all civilized countries under the sun.