An almost unprecedented scramble for this new power, new wealth and new income ensued. It broke down old standards of wealth distribution, old standards of thrift and honesty. It led to the anarchy of thieves, grafters, and highwaymen. It threatened the orderly processes of production as well as government and morals. The governments, federal, state and local, had paid three-fifths of the cost of the railroads and handed them over to individuals and corporations to use for their profit. An empire of rich land, larger than France, Belgium and Holland together, had been snatched from the hands of prospective peasant farmers and given to investors and land speculators. All of the national treasure of coal, oil, copper, gold and iron had been given away for a song to be made the monopolized basis of private fortunes with perpetual power to tax labor for the right to live and work. Speculation rose and flourished on the hard foundation of this largess.

Far from turning toward any conception of dictatorship of the proletariat, of surrendering power either into the hands of labor or of the trustees of labor, the new plan was to concentrate into a trusteeship of capital a new and far-reaching power which would dominate the government of the United States. This was not a petty bourgeois development, following the overthrow of agrarian feudalism in the South. It was, on the contrary, a new feudalism based on monopoly—but not monopoly of the agricultural possibilities of the land so much as of its wealth in raw material, in copper, iron, oil and coal, particularly monopoly of the transportation of these commodities on new public iron roads privately sequestered, and finally, of the manufacture of goods by new machines and privileged technique. This new feudalism was destined to crush the small capitalist as ruthlessly as it controlled labor, and even before the panic of 1873, it was beginning to consolidate its power.

The abolition-democracy itself was largely based on property, believed in capital and formed in effect a powerful petty bourgeoisie. It believed in democratic government but only under a general dictatorship of property. Most of the leaders of the revolt of 1872 in the North lived on investments or received salaries from investments. They did not believe in a democratic movement which would confiscate and redistribute property, except possibly in an extreme case like slavery. But even here, while they seized stolen property in human bodies, they never could bring themselves to countenance the redistribution of property in land and tools, which rested in fact on no less defensible basis. Not only, then, did the property complaint of the South fall on their sensitive and responsive ears, they were the more aroused at familiar complaints of theft and corruption in public office because this was precisely the thing they were fighting in the North. They found themselves in dilemma; they could not join the ex-slave Democratic party and repudiate their own investments in government bonds and industry. They could not maintain further political alliance with the industrial and political order eventually responsible for the Crédit Mobilier, the Whiskey Ring and the gold corner. Their logical path lay toward organized labor, leading to a combination of Eastern intellectuals, Western peasant farmers and the great army of labor. But the panic of 1873 altered the face of society; the era of business depression which followed helped this consolidation of industrial control in a few hands.

This charge against the poor, frequent as it always is in democratic movements, is not valid. The first attempt of a democracy which includes the previously disfranchised poor is to redistribute wealth and income, and this is exactly what the black South attempted. The theory is that the wealth and the current income of the wealthy ruling class does not belong to them entirely, but is the product of the work and striving of the great millions; and that, therefore, these millions ought to have a voice in its more equitable distribution; and if this is true in modern countries, like France and England and Germany, how much more true was it in the South after the war where the poorest class represented the most extreme case of theft of labor that the world can conceive; namely, chattel slavery?

He had, then, but one clear economic ideal and that was his demand for land, his demand that the great plantations be subdivided and given to him as his right. This was a perfectly fair and natural demand and ought to have been an integral part of Emancipation. To emancipate four million laborers whose labor had been owned, and separate them from the land upon which they had worked for nearly two and a half centuries, was an operation such as no modern country had for a moment attempted or contemplated. The German and English and French serf, the Italian and Russian serf, were, on emancipation, given definite rights in the land. Only the American Negro slave was emancipated without such rights and in the end this spelled for him the continuation of slavery.

God wept; but that mattered little to an unbelieving age; what mattered most was that the world wept and still is weeping and blind with tears and blood. For there began to rise in America in 1876 a new capitalism and a new enslavement of labor. Home labor in cultured lands, appeased and misled by a ballot whose power the dictatorship of vast capital strictly curtailed, was bribed by high wage and political office to unite in an exploitation of white, yellow, brown and black labor, in lesser lands and “breeds without the law.” Especially workers of the New World, folks who were American and for whom America was, became ashamed of their destiny. Sons of ditch-diggers aspired to be spawn of bastard kings and thieving aristocrats rather than of rough-handed children of dirt and toil. The immense profit from this new exploitation and world-wide commerce enabled a guild of millionaires to engage the greatest engineers, the wisest men of science, as well as pay high wage to the more intelligent labor and at the same time to have left enough surplus to make more thorough the dictatorship of capital over the state and over the popular vote, not only in Europe and America but in Asia and Africa.

The world wept because within the exploiting group of New World masters, greed and jealousy became so fierce that they fought for trade and markets and materials and slaves all over the world until at last in 1914 the world flamed in war. The fantastic structure fell, leaving grotesque Profits and Poverty, Plenty and Starvation, Empire and Democracy, staring at each other across World Depression. And the rebuilding, whether it comes now or a century later, will and must go back to the basic principles of Reconstruction in the United States during 1867-1876—Land, Light and Leading for slaves black, brown, yellow and white, under a dictatorship of the proletariat.