impossible, to get it out again. “The modern industrial organization, including banks, corporations, joint-stock companies, financial devices, national debts, paper currency, national systems of taxation, is largely the creation of legislation (not in its historical origin, but in the mode of its existence and in its authority), and is largely regulated by legislation. Capital is the breath of life to this organization, and every day, as the organization becomes more complex and delicate, the folly of assailing capital or credit becomes greater. At the same time it is evident that the task of the legislator to embrace in his view the whole system, to adjust his rules so that the play of the civil institutions shall not alter the play of the economic forces, requires more training and more acumen. Furthermore, the greater the complication and delicacy of the industrial system, the greater the chances for cupidity when backed by craft, and the task of the legislator to meet and defeat the attempts of this cupidity is one of constantly increasing difficulty.”[1]
- ↑ Professor Sumner’s Andrew Jackson (American Statesmen Series), p. 226. “Finally,” adds Prof. S., “the methods and machinery of democratic republican self-government—caucuses, primaries, committees, and conventions—lend themselves perhaps more easily than any other methods and machinery to the uses of selfish cliques which seek political influence for interested purposes.”
