In the long run men inevitably become the victims of their wealth. They adapt their lives and habits to their money, not their money to their lives. It pre-occupies their thoughts, creates artificial needs, and draws a curtain between them and the world.

At the beginning of this discussion popular Sovereignty was declared to be the essential condition of democracy; and a general account of the nature of a constructive democratic ideal can best be brought to a close by a definition of the meaning of the phrase, popular Sovereignty, consistent with a nationalist interpretation of democracy.

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The best that can be said on behalf of this traditional American system of political ideas is that it contained the germ of better things. The combination of Federalism and Republicanism which formed the substance of the system, did not constitute a progressive and formative political principle, but it pointed in the direction of a constructive formula.

The American economic, political, and social organization has given to its citizens the benefits of material prosperity, political liberty, and a wholesome natural equality; and this achievement is a gain, not only to Americans, but to the world and to civilization.