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.The Socialist concept is that "Capital" obtains its profits from giving "Labour " less than it is worth; but such words as " Capital " and " Labour ",abstracted from reality and used in the vague way they are, lead tomisunderstanding.The real position can only be grasped by imagining ourselvesdeprived of all knowledge of power and production which we have inherited,except our physical strength.The return from the last alone would be almostnegligible; and that would be the return from our labour so that " Labour " isseen to receive far more than its due.In contradistinction to this, however, wehave inherited enormous assets of power, the result of past labour, which goesunrecognised and in20 respect of this inheritance we are all due for some form of dividend.When, as a result of our labour and our inheritance, goods and services havebeen produced, the nation needs to bring enough claims on them, money, intoexistence and to ensure that they are distributed in a manner reasonablyrepresentative of the mode of production; wage reflecting the labour anddividend the inheritance.Otherwise, neither the production will be fullyemployed nor the heritage fully enjoyed.Wages plus this dividend should besufficient to enable the price of all goods and services produced for sale to bemet.The producer, assured of his costs, could then produce to the full or tosufficiency and inventions would not need to be suppressed and there would beno point in having restrictive practices.Abraham Lincoln, U.S.President, 1861-65, in Senate Document No.23,76th Congress, page 91, said: "The Government should create, issue andcirculate all the currency and credit needed to satisfy the spending power of theconsumers.The privilege of creating and issuing money is the supremeprerogative of Government, the Government's greatest creative opportunity."During the Civil War, Lincoln made the following statement to Congress: "Ihave two great enemies, the Southern Army in front of me and the financialinstitution in the rear.Of the two, the one in my rear is my greatest foe."Thomas Jefferson, the third President of the U.S., about 1800, said: "Ibelieve that banking institutions are more dangerous to our liberties thanstanding armies.Already they have raised up a money aristocracy that has setthe Government at defiance.The issuing power (of money) should be takenfrom the banks and restored to the Government and to the people to whom itbelongs.If the American people ever allow private banks to control theissuance of their currency, first by inflation and then by deflation, thecorporation that will grow up around them will deprive the people of all theirproperty, until their children will wake up homeless on the land their fathersconquered."It will be seen that both Cobbett in England and Jefferson in America, atabout the same time, fully grasped the evil purpose of the banking system andthat, as in each case the system has been allowed to pursue its course, theirprophecies have now come to pass and the British and Americans have beendispossessed in favour of the banking system, behind which are theinternational financiers.Most of the above section on finance has been taken from an essay on thesubject by a friend, Mr.R.L.Duck, because it appeared to be very suitable forthe purpose, but the whole subject is dealt with exhaustively in the books byRobertson, Douglas, etc.,27 to which reference should be made by anyone anxious to study it.Robertsonexplains that a study of history shows that the world is an organism suffering,from a disease with a wide variety of symptoms which always appear in adefinite order.They appear in every part of the globe, except its " uncivilised"parts, and, irrespective of race, nationality, climate or position.The symptomsare the whole range of social disorders, the main ones being poverty amidstplenty, civil and political disorder, frustration, loss of liberty and strife of everykind, finally ending in war [ Pobierz całość w formacie PDF ]
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.The Socialist concept is that "Capital" obtains its profits from giving "Labour " less than it is worth; but such words as " Capital " and " Labour ",abstracted from reality and used in the vague way they are, lead tomisunderstanding.The real position can only be grasped by imagining ourselvesdeprived of all knowledge of power and production which we have inherited,except our physical strength.The return from the last alone would be almostnegligible; and that would be the return from our labour so that " Labour " isseen to receive far more than its due.In contradistinction to this, however, wehave inherited enormous assets of power, the result of past labour, which goesunrecognised and in20 respect of this inheritance we are all due for some form of dividend.When, as a result of our labour and our inheritance, goods and services havebeen produced, the nation needs to bring enough claims on them, money, intoexistence and to ensure that they are distributed in a manner reasonablyrepresentative of the mode of production; wage reflecting the labour anddividend the inheritance.Otherwise, neither the production will be fullyemployed nor the heritage fully enjoyed.Wages plus this dividend should besufficient to enable the price of all goods and services produced for sale to bemet.The producer, assured of his costs, could then produce to the full or tosufficiency and inventions would not need to be suppressed and there would beno point in having restrictive practices.Abraham Lincoln, U.S.President, 1861-65, in Senate Document No.23,76th Congress, page 91, said: "The Government should create, issue andcirculate all the currency and credit needed to satisfy the spending power of theconsumers.The privilege of creating and issuing money is the supremeprerogative of Government, the Government's greatest creative opportunity."During the Civil War, Lincoln made the following statement to Congress: "Ihave two great enemies, the Southern Army in front of me and the financialinstitution in the rear.Of the two, the one in my rear is my greatest foe."Thomas Jefferson, the third President of the U.S., about 1800, said: "Ibelieve that banking institutions are more dangerous to our liberties thanstanding armies.Already they have raised up a money aristocracy that has setthe Government at defiance.The issuing power (of money) should be takenfrom the banks and restored to the Government and to the people to whom itbelongs.If the American people ever allow private banks to control theissuance of their currency, first by inflation and then by deflation, thecorporation that will grow up around them will deprive the people of all theirproperty, until their children will wake up homeless on the land their fathersconquered."It will be seen that both Cobbett in England and Jefferson in America, atabout the same time, fully grasped the evil purpose of the banking system andthat, as in each case the system has been allowed to pursue its course, theirprophecies have now come to pass and the British and Americans have beendispossessed in favour of the banking system, behind which are theinternational financiers.Most of the above section on finance has been taken from an essay on thesubject by a friend, Mr.R.L.Duck, because it appeared to be very suitable forthe purpose, but the whole subject is dealt with exhaustively in the books byRobertson, Douglas, etc.,27 to which reference should be made by anyone anxious to study it.Robertsonexplains that a study of history shows that the world is an organism suffering,from a disease with a wide variety of symptoms which always appear in adefinite order.They appear in every part of the globe, except its " uncivilised"parts, and, irrespective of race, nationality, climate or position.The symptomsare the whole range of social disorders, the main ones being poverty amidstplenty, civil and political disorder, frustration, loss of liberty and strife of everykind, finally ending in war [ Pobierz całość w formacie PDF ]