Front Page Titles (by Subject) AMERICAN NOBILITY - Democratick Editorials: Essays in Jacksonian Political Economy
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AMERICAN NOBILITY - William Leggett, Democratick Editorials: Essays in Jacksonian Political Economy 
Democratic Editorials: Essays in Jacksonian Political Economy, Foreword by Lawrence H. White (Indianapolis: Liberty Fund, 1984).
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December 31, 1836.
A writer, of uncommon eloquence and ingenuity, has appealed, in the columns of the Evening Post, under the signature of Anti-Privilege, and has undertaken to prove the unconstitutionality of the restraining law, on the ground that it is a violation of that clause of the federal constitution which declares that no state shall grant any title of nobility. It is obvious, from the whole tenor of the article, that this is not undertaken as a mere exercise of ingenuity; but that, “just in his views or not, the writer is in earnest.” We have read his remarks with attention, and profess ourselves to be of the opinion he so cogently maintains, that the restraining law is, in effect, if not in letter, a grant of titles of nobility to those whom its provisions protect in their special privileges and immunities. We cannot better appropriate a portion of our space, than by inserting an extract from this able essay.
. . .
The author of the above new view of a very important subject has promised to continue his speculations, and we hope, for the sake of the public good which such investigations are calculated to effect, that he will redeem his pledge. We have been in the habit for a long time, of speaking very freely on the subject of the exclusive privileges of our chartered aristocracy, and have frequently, for the purpose of bringing the system into disrepute, termed those who are enjoying its advantages, the scrip nobility, and the noble order of the money-changers. The peculiar privileges which they exercise (and exercise very tyrannously at times,) we really considered, in point of fact, fully equal to those of any order of European nobility, and, in their tendency to undermine our democratic institutions, highly insidious and dangerous. But we have not before been led to reflect that the act which constitutes the exclusiveness of these rights and immunities is a grant of titles of nobility, in positive contravention of an express provision of the Constitution of the United States. We tender to Anti-Privilege our cordial thanks for the flood of new and useful light he has shed upon this subject.
We have heretofore looked on the restraining law as an unequal, unnecessary, and unjust restraint on the natural freedom of capital and industry. We shall hereafter look upon it with augmented abhorrence as a positive violation of the Constitution of the United States, in a respect which was meant to guard the American people from the approaches of aristocracy. We have heretofore looked upon banking incorporations, which that law encircles and protects, as possessed of privileges incompatible with the principle of equal rights, a principle which constitutes the very foundation of human freedom. We shall hereafter look upon them with increased aversion, as the possessors of actual titles of nobility, distinguished by more objectionable features than the patents of the European aristocracy; and we shall labour with renewed zeal to enfranchise the community from their degrading subjection to the noble order of the money-changers.