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23. Trader's power steadily increases, while that of the farmer and planter as

steadily declines. Consequent instability and irregularity of the societary movement.

Trader profits by instability. Remarkable steadiness and regularity of the societary

movement in all those periods in which the protective policy has been maintained..... 268

24. Growing commerce enables the farmer to pass from the cultivation of the poorer

to the richer soils. American policy restricts him to the former. Growing commerce

tends to increase the power of labor over capital. American policy gives to capital

greater power over labor. Growing commerce tends towards peace, and an economi-

cal administration of the affairs of government. American policy looks to extension of

the trader's power at the expense of commerce. Increasing tendency towards war

and waste. Growing commerce tends towards development of the latent powers of

earth and man. American policy tends towards exhaustion of the one and enslave-

ment of the other....

25. Speculative and gambling spirit engendered by a growing dependence upon the

trader and transporter. Decline in the feeling of responsibility resulting from irregu-

larity in the societary movement. Political and judicial corruption resulting from the

growth of centralization...

26. The higher the societary organization the more rapid is the movement and the

more instant the exhibition of the effects of a sound, or unsound, course of policy.

Frequency and rapidity of changes in these United States......

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