And what manner of government do you term oligarchy? A government resting on a valuation of property, in which the rich have power and the poor man is deprived of it. I understand, he replied. Ought I not to begin by describing how the change from timocracy to oligarchy arises? Yes. Well, I said, no eyes are required in order to see how the one passes into the other. How? The accumulation of gold in the treasury of private individuals is ruin the of timocracy; they invent illegal modes of expenditure; for what do they or their wives care about the law? Yes, indeed. And then one, seeing another grow rich, seeks to rival him, and thus the great mass of the citizens become lovers of money. Likely enough. And so they grow richer and richer, and the more they think of making a fortune the less they think of virtue; for when riches and virtue are placed together in the scales of the balance, the one always rises as the other falls. True. And in proportion as riches and rich men are honoured in the State, virtue and the virtuous are dishonoured. Clearly. And what is honoured is cultivated, and that which has no honour is neglected. That is obvious. And so at last, instead of loving contention and glory, men become lovers of trade and money; they honour and look up to the rich man, and make a ruler of him, and dishonour the poor man. They do so. They next proceed to make a law which fixes a sum of money as the qualification of citizenship; the sum is higher in one place and lower in another, as the oligarchy is more or less exclusive; and they allow no one whose property falls below the amount fixed to have any share in the government. These changes in the constitution they effect by force of arms, if intimidation has not already done their work. Very true. And this, speaking generally, is the way in which oligarchy is established. Yes, he said; but what are the characteristics of this form of government, and what are the defects of which we were speaking? First of all, I said, consider the nature of the qualification just think what would happen if pilots were to be chosen according to their property, and a poor man were refused permission to steer, even though he were a better pilot? You mean that they would shipwreck? Yes; and is not this true of the government of anything? I should imagine so. Except a city?--or would you include a city? Nay, he said, the case of a city is the strongest of all, inasmuch as the rule of a city is the greatest and most difficult of all. This, then, will be the first great defect of oligarchy? Clearly. And here is another defect which is quite as bad. What defect? The inevitable division: such a State is not one, but two States, the one of poor, the other of rich men; and they are living on the same spot and always conspiring against one another. That, surely, is at least as bad.