The aristocracy of birth and pure democracy are at the two extremes of the social and political state of nations: between them moneyed aristocracy finds its place.

The latter approximates to the aristocracy of birth by conferring great privileges on a small number of persons; it so far belongs to the democratic element, that these privileges may be successively acquired by all.

It frequently forms a natural transition between these two conditions of society, and it is difficult to say whether it closes the reign of aristocratic institutions, or whether it already opens the new era of democracy.] In democratic countries, where money does not lead those who possess it to political power, but often removes them from it, the rich do not know how to spend their leisure.

They are driven into active life by the inquietude and the greatness of their desires, by the extent of their resources, and by the taste for what is extraordinary, which is almost always felt by those who rise, by whatsoever means, above the crowd.
Trade is the only road open to them.

In democracies nothing is more great or more brilliant than commerce: it attracts the attention of the public, and fills the imagination of the multitude; all energetic passions are directed towards it.