...vast accession of strength from their younger recruits, who having nothing in them of the feelings or principles of '76 now look to a single and splendid government of an Aristocracy, founded on banking institutions and monied in corporations under the guise and cloak of their favored branches of manufactures commerce and navigation, riding and ruling over the plundered ploughman and beggared yeomanry.
In his letters, Thomas Jefferson expresses concern about a shift in American values, particularly among younger generations. He notes that these individuals lack the revolutionary spirit and principles held by those from the era of 1776. Instead of valuing democracy and the fight for independence, they appear to support the idea of a powerful government led by an elite class, potentially a form of aristocracy.
Jefferson fears that this new class relies on banking and corporations, which could exploit the working class and undermine the rights of farmers and ordinary citizens. He warns that this concentration of power and wealth would threaten the foundational ideals of America, replacing the commitment to liberty with a system that benefits the privileged at the expense of the common people.