ABSTRACT
The plutocracy rests its defense upon the ground of historical necessity. Because of its alleged efficiency, the plutocracy claims remission of past sins and indulgence for future transgressions. While, politically, the plutocracy is on a lower level than was the slave power, it is indubitably in the van of one form of economic progress. In lessening the wastes of production, the plutocracy has increased many of the wastes of consumption. Yet the social ethics of the plutocracy sit somewhat awkwardly upon the victors in the great game of American profit-seeking. The conflict between the plutocracy and the democracy thus becomes a contest between rival methods, purposes, and beneficiaries of the exploitation of the continent. Secure in the adherence of its humble millions of imitators and admirers, the plutocracy looks forward to many generations of peaceful control of the labor, votes, and thoughts of the American people.
