“ The wealth of the country is perpetually flowing around the government and passing through its hands; the accumulation increases in the same proportion as the equality of conditions; for in a democratic country the State alone inspires private individuals with confidence, because the State alone appears to be endowed with strength and durability. ”
Alexis de Tocqueville, Democracy in America (1840). copy citation
| Author | Alexis de Tocqueville |
|---|---|
| Source | Democracy in America |
| Topic | wealth equality |
| Date | 1840 |
| Language | English |
| Reference | |
| Note | Translated by Henry Reeve |
| Weblink | http://www.gutenberg.org/files/816/816-h/816-h.htm |
Context
“and in some of them the government has superseded them, taking upon itself the enormous task of centralizing in one place, and putting out at interest on its own responsibility, the daily savings of many millions of the working classes. Thus the State draws to itself the wealth of the rich by loans, and has the poor man's mite at its disposal in the savings banks. The wealth of the country is perpetually flowing around the government and passing through its hands; the accumulation increases in the same proportion as the equality of conditions; for in a democratic country the State alone inspires private individuals with confidence, because the State alone appears to be endowed with strength and durability. *c Thus the sovereign does not confine himself to the management of the public treasury; he interferes in private money matters; he is the superior, and often the master, of all the members of the community;”
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