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We are already wealthy; we have greater resources and higher credit than any other nation; we have more wealth than any save one; we have vast accumulations of fortune, in private hands and in enormous corporations. There exists already, what could not be said to exist a quarter of a century ago, a class who have leisure. Now what is the object in life of this great, growing class that has money and leisure, what does it chiefly care for? In your experience of society, what is it that it pursues and desires? Is it things of the mind or things of the senses? What is it that interests women, men of fortune, club-men, merchants, and professional men whose incomes give them leisure to follow their inclinations, the young men who have inherited money? Is it political duties, the affairs of state, economic problems, some adjustment of our relations that shall lighten and relieve the wrongs and misery everywhere apparent; is the interest in intellectual pursuits and art (except in a dilettante way dictated for a season by fashion) in books, in the wide range of mental pleasures which make men superior to the accidents of fortune? Or is the interest of this class, for the most part, with some noble exceptions, rather in things grossly material, in what is called pleasure? To come to somewhat vulgar details, is not the growing desire for equipages, for epicurean entertainments, for display, either refined or ostentatious, rivalry in profusion and expense, new methods for killing time, for every imaginable luxury, which is enjoyed partly because it pleases the senses, and partly because it satisfies an ignoble craving for class distinction?

I am not referring to these things as a moralist at all, but simply in their relation to popular discontent. The astonishing growth of luxury and the habit of sensual indulgence are seen everywhere in this country, but are most striking in the city of New York, since the fashion and wealth of the whole country meet there for display and indulgence,–New York, which rivals London and outdoes Paris in sumptuousness. There congregate more than elsewhere idlers, men and women of leisure who have nothing to do except to observe or to act in the spectacle of Vanity Fair. Aside from the display of luxury in the shops, in the streets, in private houses, one is impressed by the number of idle young men and women of fashion.

It is impossible that a workingman who stands upon a metropolitan street corner and observes this Bacchanalian revel and prodigality of expense, should not be embittered by a sense of the inequality of the conditions of life. But this is not the most mischievous effect of the spectacle. It is the example of what these people care for. With all their wealth and opportunities, it seems to him that these select people have no higher object than the pleasures of the senses, and he is taught daily by reiterated example that this is the end and aim of life. When he sees the value the intelligent and the well-to-do set upon material things, and their small regard for intellectual things and the pleasures of the mind, why should he not most passionately desire those things which his more fortunate neighbors put foremost? It is not the sight of a Peter Cooper and his wealth that discontents him, nor the intellectual pursuits of the scholar who uses the leisure his fortune gives him for the higher pleasures of the mind. But when society daily dins upon his senses the lesson that not manhood and high thinking and a contented spirit are the most desirable things, whether one is rich or poor, is he to be blamed for having a wrong notion of what will or should satisfy him? What the well-to-do, the prosperous, are seen to value most in life will be the things most desired by the less fortunate in accumulation. It is not so much the accumulation of money that is mischievous in this country, for the most stupid can see that fortunes are constantly shifting hands, but it is the use that is made of the leisure and opportunity that money brings.