What a humiliating confession! what a comment on the
alleged practical discernment of this practical people! what a text
for radicals, socialists, and all sorts of Utopian dreamers! If the
mischiefs of these monetary aberrations were confined to a mere loss
of wealth,[B] which is proverbial for its winged uncertainty, we might
regard them as a seeming admonition of Providence against putting
too much trust in riches; but they are to be considered as something
infinitely worse than mere reverses of fortune: the disorders they
generate shake the very foundations of morals; and while shattering
the industry, they undermine the economy and frugality and rend the
integrity of mankind. We doubt whether any of the great forms of evil
incident to our imperfect civilization--the slave-trade, debauchery,
pauperism--cause more individual anguish or more public detriment than
these incessant revolutions in the value and tenure of property. Those
afflict limited classes alone, but these every class; they relax and
pervert the whole moral regimen of society; and if, as it is sometimes
alleged, the present age is more profoundly steeped in materialism
than any before,--if its enterprise is not simply more bold, but more
reckless and prodigal,--if the monitions of conscience have lost their
force in practical affairs, and the dictates of religion and honor alike
their sanctity, it is because of the uncertain principle, the gambling
spirit, the feverish eagerness, and the insane extravagance, which beset
the ways of traffic.
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