But the point is that in the case of very large fortunes the inherited power goes far beyond any legitimate individual needs, and in the course of time can hardly fail to corrupt its possessors.

The creator of a large fortune may well be its master; but its inheritor will, except in the case of exceptionally able individuals, become its victim, and most assuredly the evil social effects are as bad as the evil individual effects.

The political bond which a democracy seeks to create depends for its higher value upon an effective social bond.

Gross inequalities in wealth, wholly divorced from economic efficiency on the part of the rich, as effectively loosen the social bond as do gross inequalities of political and social standing.

A wholesome social condition in a democracy does not imply uniformity of wealth any more than it implies uniformity of ability and purpose, but it does imply the association of great individual economic distinction with responsibility and efficiency.