In all ages, whatever the form and name of government, be it monarchy, republic, or democracy, an oligarchy lurks behind the façade; and Roman history, Republican or Imperial, is the history of the governing class. The marshals, diplomats, and financiers of the Revolution may be discerned again in the Republic of Augustus as the ministers and agents of power, the same men but in different garb. They are the government of the New State.

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At Rome all men paid homage to libertas, holding it to be something roughly equivalent to the spirit and practice of Republican government. Exactly what corresponded to the Republican constitution was, however, a matter not of legal definition but of partisan interpretation. Libertas is a vague and negative notion—freedom from the rule of a tyrant or a faction. It follows libertas [liberty], like regnum [kingship] or dominatio [despotism], is a convenient term of political fraud.