James Madison's views on  the Principle Legislative Task of Government.

After signing the U.S. Constitution, Madison worked with John Jay and Alexander Hamilton in writing the Federalist Papers - explaining the Constitution; and attempting to gain support for ratification of it by the states.

The following quote is from James Madison's Federalist Paper #10 -

"A landed interest, a manufacturing interest, a mercantile interest, a moneyed interest, with many lesser interests, grow up of necessity in civilized nations, and divide them into different classes, actuated by different sentiments and views. The regulation of these various and interfering interests forms the principal task of modern legislation, and involves the spirit of party and faction in the necessary and ordinary operation of government."

As you can see, economic regulation, or probably more accurately, self-regulation by the various economic interests is viewed as the "
necessary and ordinary operation of government."  No economic interest is exempt from regulation, but more than one economic interest does not have a seat at the table - primarily, working people, women, and blacks.

James Madison's views on Political Representation

The following  quote is from James Madison's personal records of the Constitutional Convention:
 
From Farrand's Records, (MADISON August 7th. In Convention)

"Viewing the subject on its merits alone, the freeholders, (property owners without debt), of the Country would be the safest depositories of Republican liberty. In future times a great majority of the people will not only be without landed, but any other sort of property."


It's important to understand that in colonial America, to use a common phrase of the time, "people who earn their bread from their employer" did not have the vote. Working white males didn't fully gain the right to vote until around 1830.

At the time of the U.S. Constitutional Convention, in 1787, most state governments had property requirements for voting and Madison spoke in favor of requiring one for voting in federal elections. Madison; as well as most members of the Constitutional Convention, believed that the only people who should have a legal authority, (the franchise) to influence the government, (vote for a representative) were property owners. However; members of the convention could not agree on exactly what property requirements should be required, and decided to rely on the states voting requirements to protect their political power.