Of merchants there are three classes. I. Merchant-producers, who deal in labor applied to the direct creation of new material. They buy labor and land, to sell them in corn, cotton, coal, timber, salt, and iron. II. Merchant-manufacturers, who deal in labor applied to transforming that material. They buy labor, wool, cotton, silk, water-privileges and steam-power, to sell them all in finished cloth. III. Merchant-traders, who simply distribute the article raised or manufactured. These three divisions I shall speak of as one body. Property is accumulated labor; wealth or riches a great deal of accumulated labor. As a general rule, merchants are the only men who become what we call rich. There are exceptions, but they are rare, and do not affect the remarks which are to follow. It is seldom that a man becomes rich by his own labor employed in producing or manufacturing. It is only by using other men's labor that any one becomes rich. A man's hands will give him sustenance, not affluence. In the present condition of society this is unavoidable; I do not say in a normal condition, but in the present condition. * * * * * Here in America the position of this class is the most powerful and commanding in society. They own most of the property of the nation. The wealthy men are of this class; in practical skill, administrative talent, in power to make use of the labor of other men, they surpass all others. Now, wealth is power, and skill is power--both to a degree unknown before. This skill and wealth are more powerful with us than any other people, for there is no privileged caste, priest, king, or noble, to balance against them. The strong hand has given way to the able and accomplished head. Once head armor was worn on the outside, and of brass, now it is internal and of brains.