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unproductive if it remained scattered in the hands of its owners. This circumstance has given rise to a philanthropic institution, which will soon become, if I am not mistaken, one of our most important political institutions. Some charitable persons conceived the notion of collecting the savings of the poor and placing them out at interest. In some countries these benevolent associations are still completely distinct from the state; but in almost all they manifestly tend to identify themselves with the government; and in some of them the government has superseded them, taking upon itself the enormous task of centralizing in one place, and putting out at interest on its own responsibility, the daily savings of many millions of the working classes.
Thus the State draws to itself the wealth of the rich by loans, and has the poor man's mite at its disposal in the savings' banks. The wealth of the country is perpetually flowing around the government and passing through its hands; the accumulation increases in the same proportion as the equality of conditions; for, in a democratic country the State alone inspires private individuals with confidence, because the State alone appears to be endowed with strength and durability.[1]
Thus the sovereign does not confine himself to the management of the public treasury; he interferes in private money-matters; he is the superior, and often the master, of all the members of the community; and, in addition to this, he assumes the part of their steward and paymaster.
The central power not only fulfils of itself the whole of the duties formerly discharged by various authorities—extending those duties, and surpassing those authorities—but it performs them with more alertness, strength, and independence than it displayed before. All the governments of Europe have in our time singularly improved the science of administration: they do more things, and they do everything with more order, more celerity, and at less ex-
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On the one hand the taste for worldly welfare is perpetually increasing,
and on the other the government gets more and more complete possession
of the sources of that welfare.
Thus men are following two separate roads to servitude: the taste for their own welfare withholds them from taking a part in the government, and their love of that welfare places them in closer dependance upon those who govern.
