"Most assuredly," replied the doctor. "Our economic system is a measure of statesmanship quite as much as of humanity. You see, the first condition of efficiency or stability in any government is that the governing power should have a direct, constant, and supreme interest in the general welfare--that is, in the prosperity of the whole state as distinguished from any part of it. It had been the strong point of monarchy that the king, for selfish reasons as proprietor of the country, felt this interest. The autocratic form of government, solely on that account, had always a certain rough sort of efficiency. It had been, on the other hand, the fatal weakness of democracy, during its negative phase previous to the great Revolution, that the people, who were the rulers, had individually only an indirect and sentimental interest in the state as a whole, or its machinery--their real, main, constant, and direct interest being concentrated upon their personal fortunes, their private stakes, distinct from and adverse to the general stake. In moments of enthusiasm they might rally to the support of the commonwealth, but for the most part that had no custodian, but was at the mercy of designing men and factions who sought to plunder the commonwealth and use the machinery of government for personal or class ends. This was the structural weakness of democracies, by the effect of which, after passing their first youth, they became invariably, as the inequality of wealth developed, the most corrupt and worthless of all forms of government and the most susceptible to misuse and perversion for selfish, personal, and class purposes. It was a weakness incurable so long as the capital of the country, its economic interests, remained in private hands, and one that could be remedied only by the radical abolition of private capitalism and the unification of the nation's capital under collective control. This done, the same economic motive--which, while the capital remained in private hands, was a divisive influence tending to destroy that public spirit which is the breath of life in a democracy--became the most powerful of cohesive forces, making popular government not only ideally the most just but practically the most successful and efficient of political systems. The citizen, who before had been the champion of a part against the rest, became by this change a guardian of the whole." CHAPTER IV. A TWENTIETH-CENTURY BANK PARLOR.