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from the other. The American type of legislator is eminently shrewd, business-like, and free from prejudice, and he is quite prepared to make good laws, as long as they do not affect injuriously his personal and party interests. Public opinion insists on this, and it makes, as we have seen, occasional spasmodic efforts to diminish the great corruption of American political life.

      In many respects, however, he judged with singular accuracy both the dangers and the tendencies of American political life. He deplored the custom, which had already begun in his time, of making the judges elective. He predicted that the habit of treating representatives as mere delegates bound by imperative instructions would destroy the essence of representative government. He dwelt with much perspicuity on the dangers in a pure democracy of the multiplication of great towns; on the gradual displacement of power which would follow the rise of new territories eclipsing or superseding the old States; on the moral and political effects of slavery, and of the increase of the negro race; on the deep and menacing line of division which the combined influence of slavery and climate, and the resulting difference of character and habits were drawing between the Northern and the Southern States. He imagined, indeed, that slavery would make it the special interest of the latter to cling to the Union, as they had every reason to fear the consequences if they were left alone with their negroes; but he doubted whether this bond of interest would prove ultimately as strong as the antagonism of sentiment. The system of party in America he never seems to have clearly understood, and he altogether failed to foresee the enormous power and the corrupting influence of ‘the Machine.’

      Integrity in the management of great companies and corporations is certainly not, in these latter days, a characteristic of the Anglo-Saxon race on either side of the Atlantic, but I believe it is even less so in America than in England. The contrast between the management of railways in England and in the United States is extremely significant. America is now one of the richest countries in the world, and its people have certainly no superiors in business talent. Yet it has been stated on excellent authority that, in the fifteen years between 1875 and 1890, the aggregate foreclosure sales on the railways of the United States comprised 50,525 miles, with $2,865,000,000 of combined stocks and bonds, or an average of $191,000,000 per annum. In 1890, twenty-nine companies were subject to foreclosure sales.86 A great railway authority, speaking in the beginning of 1894, said: ‘There is no less than one-fourth of the American railways in extent of mileage and capital now under the control of the courts of law, and during the year 1893 alone seventy-four railway companies including a mileage of 30,000 miles and a capital of 360 millions sterling, passed into the hands of receivers.87 Making the fullest allowance for trade depressions and vicissitudes, and for currency troubles, what an amount of gigantic and deliberate dishonesty, as well as unscrupulous gambling, does such a state of things represent! The system of monopolising articles of the first necessity, under the name of Trusts, in order to force up their price, which is one of the most mischievous forms that modern industry has assumed, has been especially American, and the origin of some of the greatest American fortunes.


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