"It is of great importance in a republic, not only to guard the society against the oppression of its rulers; but to guard one part of the society against the injustice of the other part."

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To attach full confidence to an institution of this nature, it appears to be an essential ingredient in its structure, that it shall be under private and not a public direction-under the guidance of individual interest, not of public policy; which, would be . . . liable to being too much influenced by public necessity.

— Alexander Hamilton