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William Graham Sumner

I have before me a newspaper slip on which a writer expresses the opinion that no one should be allowed to possess more than one million dollars' worth of property.

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Men never cling to their dreams with such tenacity as at the moment when they are losing faith in them, and know it, but do not dare yet to confess it to themselves.

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Then, again, the ability to organize and conduct industrial, commercial, or financial enterprises is rare; the great captains of industry are as rare as great generals.

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Moreover, there is an unearned increment on capital and on labor, due to the presence, around the capitalist and the laborer, of a great, industrious, and prosperous society.

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Joint-stock companies are yet in their infancy, and incorporated capital, instead of being a thing which can be overturned, is a thing which is becoming more and more indispensable.

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Undoubtedly there are, in connection with each of these things, cases of fraud, swindling, and other financial crimes; that is to say, the greed and selfishness of men are perpetual.

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There is every indication that we are to see new developments of the power of aggregated capital to serve civilization, and that the new developments will be made right here in America.

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We are to see the development of the country pushed forward at an unprecedented rate by an aggregation of capital, and a systematic application of it under the direction of competent men.

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The waste of capital, in proportion to the total capital, in this country between 1800 and 1850, in the attempts which were made to establish means of communication and transportation, was enormous.

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Labor organizations are formed, not to employ combined effort for a common object, but to indulge in declamation and denunciation, and especially to furnish an easy living to some officers who do not want to work.

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