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No.

Madison never said that. This quote has been proven to be made up. It is probably a warped, twisted, liberalized version of this real quote form President James Madison:

"The great object [of political parties] should be to combat the evil: 1. By establishing a political equality among all. 2. By withholding unnecessary opportunities from a few, to increase the inequality of property, by an immoderate, and especially an unmerited, accumulation of riches. 3. By the silent operation of laws, which, without violating the rights of property, reduce extreme wealth towards a state of mediocrity, and raise extreme indigence towards a state of comfort."

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Q: Did James Madison quote on the wealth being concentrated in the Hands of a few?
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