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Loco for liberty

By Kauffman, Bill
Publication: The American Enterprise
Date: Monday, July 1 2002
HEADNOTE

Flashback

To know nothing of what happened before you were born is to remain ever a child-Cicero

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"Walk

through Wall Street," commanded a radical journalist of the 1830s, and you will "see a street of palaces." But if the tourist "investigates the sources of their prodigious wealth, he will discover that it is extorted, under various delusive names, and by a deceptive process, from the pockets of the unprivileged and unprotected poor. These are the masters in this land of freedom. These are our aristocracy, our scrip nobility, our privileged order of chartermongers and money-changers. Serfs of free America! Bow your necks submissively to the yoke, for these exchequer barons have you fully in their power."

The author was just getting warmed up. The lords of Wall Street, he continued, are "low-minded, ignorant and rapacious. " They are "aristocrats, clothed with special immunities, who control, indirectly, but certainly, the political power of the state, monopolise the most copious sources of pecuniary profit, and wring the very crust from the hard hand of toil."

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