Jeniffer electronic book

The future contained
only one serious danger. Such liberties were always open to attack, and
there would always be designing men whose interest it was to attack
them. The great political responsibility of the American democracy was
to guard itself against such assaults; and should they succeed in this
task they need have no further concern about their future. Their
political salvation was secure. They had placed it, as it were, in a
good sound bank. It would be sure to draw interest provided the bank
were conservatively managed--that is, provided it were managed by loyal
Republicans. There was no room or need for any increase in the fund,
because it already satisfied every reasonable purpose. But it must not
be diminished; and it must not be exposed to any risk of diminution by
hazardous speculative investments.
During the next fifty years, the American democracy accepted almost
literally this Jeffersonian tradition. Until the question of slavery
became acute, they ceased to think seriously about political problems.


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