the Athenian republic. "The inhabitants of Attica were divided
among themselves as to the form of government. Those who lived on the
mountains (the poor) preferred the popular form; those of the plain
(the middle class), the oligarchs; those by the sea coast, a mixture
of oligarchy and democracy. Other dissensions were arising from the
inequality of fortunes. The mutual antagonism of the rich and poor had
become so violent, that the one-man power seemed the only safe-guard
against the revolution with which the republic was threatened."
(Pastoret: History of Legislation.)

Quarrels between the rich and the poor, which seldom occur in
monarchies, because a well established power suppresses dissensions,
seem to be the life of popular governments. Aristotle had noticed this.
The oppression of wealth submitted to agrarian laws, or to excessive
taxation; the hatred of the lower classes for the upper class, which
is exposed always to libellous charges made in hopes of
confiscation,--these were the features of the Athenian government which
were especially revolting to Aristotle, and which caused him to favor
a limited monarchy. Aristotle, if he had lived in our day, would have
supported the constitutional government. But, with all deference to the
Stagirite, a government which sacrifices the life of the proletaire to
that of the proprietor is quite as irrational as one which supports the
former by robbing the latter; neither of them deserve the support of a
free man, much less of a philosopher.

Solon followed the example of Lycurgus. He celebrated his legislative
inauguration by the abolition of debts,--that is, by bankruptcy. In
other words, Solon wound up the governmental machine for a longer or
shorter time depending upon the rate of interest. Consequently, when the
spring relaxed and the chain became unwound, the republic had either
to perish, or to recover itself by a second bankruptcy. This singular
policy was pursued by all the ancients. After the captivity of Babylon,
Nehemiah, the chief of the Jewish nation, abolished debts; Lycurgus
abolished debts; Solon abolished debts; the Roman people, after the
expulsion of the kings until the accession of the Caesars, struggled
with the Senate for the abolition of debts. Afterwards, towards the
end of the republic, and long after the establishment of the empire,
agriculture being abandoned, and the provinces becoming depopulated
in consequence of the excessive rates of intere