By Joseph R. Blasi
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Additional info for The Citizen's Share: Putting Ownership Back into Democracy
3. By the silent operation of laws, which, without violating the rights of property, reduce extreme wealth towards a state of mediocrity, and raise extreme indigence towards a state of comfort. 4. By abstaining from measures which operate differently on different interests, and particularly such as favor one interest, at the expense of another. 5. By making one party a check on the other, so far as the existence of parties cannot be prevented, nor their views accommodated— If this is not the language of reason, it is that of republicanism.
If our wealth is less equal than our kind of government, how absurd must it be for government to lend its special aid in so partial a manner to wealth. . ”14 THE AM ERICAN VISION 23 Tench Coxe, later Hamilton’s assistant treasury secretary, wrote a series of essays against the bank. Coxe came from a rich Philadelphia family and was a respected political economist. He criticized the Bank of North America as a monopoly and attacked its corporate governance as aristocratic. There is no question but that he was an interested party.
The people ﬁ nd themselves burdened now by the rich. . In America, the right of sovereignty resides indisputably in the body of the people, and they have the whole property of land. . But if the whole people be landlords, or hold the land so divided among them, that no one man or number of men, within the compass of the few or aristocracy overbalance them, it is a commonwealth. . In America, the balance is nine tenths on the side of the people. John Adams, in the Boston Patriot, 181165 THE AM ERICAN VISION 47 That all men are born to equal rights is true, Every being has a right to his own, as clear, as moral, as sacred, as any other being has.