The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1869-04-10

/ wheat or S2.000.000 4h 'uli lend !. out to
Mechanics at SIX per cent interest, ami con
4 TIME 10 d0 this for twenty Years, adding
Y yearly 10 the loan tha interest 10 accrued,
/ il would accumulate, iu tweDrq wears, g
\ S39,5Tl,l60 The interest on this interest
V tor a year amounts to s4,4l7,zI0, which
I would yearly be due srDm tile mechanics
| If the mechanics, instead Of paying be in-
/ terest in wheat, should pay it in manefact-
ured articles, they would pile up Az enOr-
nous quantity OF goods in Mr. A's store
I houses for his yearly use. With interest az
six PEI cent, at the cad Of twenty wears.
I the farmers would owe Mr. A. $33, ,533 1888,
or tha same number bushels Of wheat, ana
the mechanics would owe him S73 57l $50
L gether, Sl06, g04 ,5l3 which would annu-
ally require from the farmers and mechanics
I Sc Ala pro worth OF their products merely
70 pay the interest.
/ Now lee the interest be at one per cent. per
annum, and let Mr.. A. lend $33 333 333 at
/ this rate, and in twenty wears tue interest
compounded yearly would amount 70
boz 81 ,339 Coo instead of $73, ,57I $50 !;
making by this simple alteration of the rate
of interest for twenty years a saving 70 the
farmers and mechanics u 500 ,23l ,5l4
| These calculations Of the -cgntraiizins
/ power Of money are not based upon any
I usurious rates Of interest, but upon SIX and
seven per cent, and The latter rate is estab-
I lished BY the State of New y N1rk as Just and
/ equitable; and judgments ID the courts o.
law are rendered aud entered upon the rec.
/ Ords accordingly. These rates Of interest
are certain to take the wealth from the pro
dueers and give 1t to the inancIers It vii
| be hereafter shown that the rate Of interest
may be easily reduced TO one per cent, or TO
any other per cent. that shall be deemed
most eOndu ;ive tO the general welfare and
il the people think it more Just that the in-
/ terest should cease 10 accumulate wealth so
| rapidly in few bands, they will enact laws
| 20 prevent 1t. II they will stop such aecu-
mutation by interest, they viii live upon
/ the products OF their own labor, instead of
| living upon the csarIty Of capitalists Ii
Ia twenty wears Mr. "A should bustov 1u
the needy SOC 23l ,5l4, Or the same number
| Of bushes Of wLeiJ, it wonld be u uu-
heard If lberaity. But if the law Of in
terest were such that he could not legally
take this amount from tue people, they
would retain it in their own possession, a.
the natural product of their labor, instead
of being compelled to receive il a. a charity.
Mr.. A. now uses the most Of hIs capital
by investing Il IN State and other stocks.
buying business notes at large discounts,
leading money on bond and mortgages
buying 40 mortgages bearing seven Der cent
interest below their par value, purchasing
property under foreclosure, etc. Doubtless
his object - 70 obtain the best possible Der
cenTage income for the use Of BIZ m5nev Or
property. All that be gains by these means
above sX per cent. interest, taxes a stil
greater sum from the earnings Of producers.
Now suppose from this time forward Mr.
A should determine To pursue different
course, and 60 lay out his capital ID such a
manner "a 70 coDduce in the highest degree
to the welfare Of lhe people around him. To
support them ID ideness would be disad
vantage; but to employ them, aui pay fOr
their work such price as would 1--WE them
good su6sls ence, sn furnish them with
The means Vt .eGneaglng saeir ehildera, and
! 20 provide Ter the aged aud needy, w euid
be very benevolent disposition of bis
wealth. 10 DO this he invests all his prop
erty "a tue manufacture of cotton goods.
W th thirty-three and third millions Of
dollars be eOulu carry on an extensive bOsi
ness. He builds bis manufactures, AMI
purchases machinery. lie contracts with
number Of planters TO supply BIN for Ger
tain number ~ gears with gwen quantity
of cotton. lie also contracts with workmen
20 perform the labor in bis mills, ana agrees
to give % all such prices a. will aft ri them
| and their families comfortable subsistence.
make suitable provision for the education
Of their children, and support those ShO are
unable 20 work aud dependent upon them.
The cotton Will, 0f course, be always turn-
ished al n uniform price, and the price Of
labor wll be about tne same each year.
Mr.. A. now fixes the piice VI hIs goods ~
as TO sustain The various people ID his cm-
plOyment. Let Mr.. "A. invest an his means
N mills, Ia stock, ana labor, on these terms,
while the planners bare their plantations,
and the mechanics, manufacturers and La
b0rers employed by Alr A. hire houses To
live in, etc., from others az rent OF seven
or eight per cent. per annum, and il @ill be
mpossiJie for him, with all bis eapital, iO
sustain himself. Id very few years ht will
become bankrupt, for he must enable bis
woIkmen TO pay their rents, aud give them,
besides comfortable support. 1hIs o5ii-
ge- ham - use hIs own properly at "A low
rate OF interest, while, through bis wOrkmem,
De is compelled 10 pay a high rate OF rent
% interest for the use Of the property II
others. The operation AZ, virtually, that
the owner Df thirty-three and third mil
I3ns oi dollars boTrOws an equas or large
amount at slX, seven, or eight per CENT ala
teresl, and TelOans Che borrowed money, to-
| gether with bis own, at 40 interest W one,
or one aud quarter per cent. by 80 DO
ing, his fortune will soon pass into the
hands Of other capitalists.
| The present monetary laws Of All nations
are opposed 70 TIE reward Of labor and 40
individual or national attempts justly to re
ward IL, except by changing these laws, can
secure any permanent success.
Iro BE ooSrNUED.l
CIeopatTa's Costly Breakfast.
There seems to be a diversity Of opinion
| about one, of CeOpatra's breakfasts Il was
the most costly breakfast that has ever Deen
served to single human being. | will.
therefore, tell what know about is After
having partaken Of Cieopatra's necklace.
Mark Antony determined u devise the cost
iIest breakfast ever gwen. After several
| days IT gastrOnOmical meditatiOns, not hav
ing f0und what be was looking for, be sum
moned his cook 70 MS presence, and told
him that, II be could get up dainty break
! fast for lady, which should be composed
Of as few and small dishes as possible,
and, at the same time, be most costly, be
should reward him accordingly
Several weeks afterward, the cook entered
Mark Antony's study, and told him that be
VAS r,ady TO serve the dainty breakfast
asked Of him. and that it was composed Of
one olive only. At the appointed hour the
cook entered the dining room, followed by
one hundred men carrying the olive (in its
artificial envelopeJ on their shoulders. They
deposited it on a table, made for the coca
sion, anu fifty caryers were set to work on It.
\ After several hours nf hard work the tri-