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 Quarrels between the rich and the poor, which seldom occur in monarchies, because a well established power suppresses dissensions, seem to be the life of popular governments. Aristotle had noticed this. The oppression of wealth submitted to agrarian laws, or to excessive taxation; the hatred of the lower classes for the upper class, which is exposed always to libellous charges made in hopes of confiscation,—these were the features of the Athenian government which were especially revolting to Aristotle, and which caused him to favor a limited monarchy. Aristotle, if he had lived in our day, would have supported the constitutional government. But, with all deference to the Stagirite, a government which sacrifices the life of the proletaire to that of the proprietor is quite as irrational as one which supports the former by robbing the latter; neither of them deserve the support of a free man, much less of a philosopher.

Solon followed the example of Lycurgus. He celebrated his legislative inauguration by the abolition of debts,—that is, by bankruptcy. In other words, Solon wound up the governmental machine for a longer or shorter time depending upon the rate of interest. Consequently, when the spring relaxed and the chain became unwound, the republic had either to perish, or to recover itself by a second bankruptcy. This singular policy was pursued by all the ancients. After the captivity of Babylon, Nehemiah, the chief of the Jewish nation, abolished debts; Lycurgus abolished debts; Solon abolished debts; the Roman people, after the expulsion of the kings until the accession of the Cæsars, struggled with the Senate for the abolition of debts. Afterwards, towards the end of the republic, and long after the establishment of the empire, agriculture being abandoned, and the provinces becoming depopulated in consequence of the excessive rates