The Compass

2/4 The usual way to tell the story of money and democracy in America is in terms of a fall from grace. Once upon a time, democracy was pure, with little corruption, and rich Americans had no influence upon policymakers. The truth is more complicated. By the mid-19th Century, America had the largest, densest, and most labour-intensive democracy in the world. None of this had been anticipated by the country’s founders, who had made no provision in the Constitution for funding an electoral system that, because of its vastness, had become enormously expensive. When government failed, private entrepreneurs rushed in, inventing a new institution - the political party - to organise America’s intricate system of elections. These entrepreneurs took money wherever they found it - from wealthy individuals who wanted to become judges; from corporations who wanted to influence policy; from those who were expected to pay an “assessment” for the privilege of working for the party or in government. Tammany Hall in New York