Intrigued by the conversation on "democratic republic". As is implied by the relationship stated. It is a form of democracy.
From Mickipedia: Thomas Jefferson defined a republic as:
...a government by its citizens in mass, acting directly and personally, according to rules established by the majority; and that every other government is more or less republican, in proportion as it has in its composition more or less of this ingredient of the direct action of the citizens. Such a government is evidently restrained to very narrow limits of space and population. I doubt if it would be practicable beyond the extent of a New England township. The first shade from this pure element, which, like that of pure vital air, cannot sustain life of itself, would be where the powers of the government, being divided, should be exercised each by representatives chosen...for such short terms as should render secure the duty of expressing the will of their constituents. This I should consider as the nearest approach to a pure republic, which is practicable on a large scale of country or population ... we may say with truth and meaning, that governments are more or less republican as they have more or less of the element of popular election and control in their composition; and believing, as I do, that the mass of the citizens is the safest depository of their own rights, and especially, that the evils flowing from the duperies of the people, are less injurious than those from the egoism of their agents, I am a friend to that composition of government which has in it the most of this ingredient.
[26]
The Founding Fathers discoursed endlessly on the meaning of "republicanism." John Adams in 1787 defined it as "a government, in which all men, rich and poor, magistrates and subjects, officers and people, masters and servants, the first citizen and the last, are equally subject to the laws."
[27]
Virtue vs. Commerce[edit]
The open question, as Pocock suggested,
[28] of the conflict between personal economic interest (grounded in Lockean liberalism) and classical republicanism, troubled Americans.
Jefferson and
Madison roundly denounced the Federalists for creating a national bank as tending to corruption and monarchism;
Alexander Hamilton staunchly defended his program, arguing that national economic strength was necessary for the protection of liberty. Jefferson never relented but by 1815 Madison switched and announced in favor of a national bank, which he set up in 1816.
John Adams often pondered the issue of civic virtue. Writing
Mercy Otis Warren in 1776, he agreed with the Greeks and the Romans, that, "Public Virtue cannot exist without private, and public Virtue is the only Foundation of Republics." Adams insisted, "There must be a positive Passion for the public good, the public Interest, Honor, Power, and Glory, established in the Minds of the People, or there can be no Republican Government, nor any real Liberty. And this public Passion must be Superior to all private Passions. Men must be ready, they must pride themselves, and be happy to sacrifice their private Pleasures, Passions, and Interests, nay their private Friendships and dearest connections, when they Stand in Competition with the Rights of society."
[29]
Adams worried that a businessman might have financial interests that conflicted with republican duty; indeed, he was especially suspicious of banks. He decided that history taught that "the Spirit of Commerce ... is incompatible with that purity of Heart, and Greatness of soul which is necessary for a happy Republic." But so much of that spirit of commerce had infected America. In New England, Adams noted, "even the Farmers and Tradesmen are addicted to Commerce." As a result, there was "a great Danger that a Republican Government would be very factious and turbulent there."
[30]