From Social Problems by Henry George, published in 1883:
Great wealth always supports the party in power, no matter how corrupt it may be. It never exerts itself for reform, for it instinctively fears change. It never struggles against misgovernment. When frightened by the holders of political power it does not agitate nor appeal to the people; it buys them off. It is in this way, no less than by direct interference, that aggregated wealth corrupts government, and helps to make politics a trade. Our organized lobbies, both legislative and Congressional, rely as much upon the fears as upon the hopes of moneyed interests. When “business” is dull, their resource is to get up a bill which some moneyed interest will pay them to beat. So, too, these large moneyed interests will subscribe to political funds, on the principle of keeping on the right side of those in power, just as the railroads deadhead President Arthur when he goes to Florida to fish.
The more corrupt a government, the easier wealth can use it. Where legislation is to be bought, the rich make the laws; where justice is to be purchased, the rich have the ear of the courts… A community composed of very rich and very poor falls an easy prey to whoever can seize power. The very poor have not spirit and intelligence enough to resist; the very rich have too much at stake.
The rise in the United States of monstrous fortunes, the aggregation of enormous wealth in the hands of corporations, necessarily implies the loss by the people of governmental control. Democratic forms may be maintained, but there can be as much tyranny land misgovernment under democratic forms as any other — in fact they lend themselves most readily to tyranny and misgovernment. Forms count for little…
This at least is certain: Democratic government in more than name can exist only where wealth is distributed with something like equality — where the great mass of citizens are personally free and independent, neither fettered by their poverty nor made subject by their wealth.