Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1875-07-31
Interest Raises Prices. T"


Eliiors orHe Free Press: Under the a.
hove caption, send you the following extract
FROM an essay oi L. i. Haywood, OF Boston,
and wenld ask for it the careful consideration
Of your readers. Il deeply eoucarns them auc
their mateFia! interests.
Furthermore, within this single word l'a.
teresd is coiled the handspring Of fraud and
mastership. which gives oyeTsccrs and capital
lists their dcspotic advantages aud makes mo-
ney only another name for tyfaony. Legal
i-ed theft. iatcres. consecrates robbery as
principle. aud euforccs tie practice OF 1t on
lie community. Money being the exponent
Of property. the rate of interest, which is Inc
mice Of mouey, determines The priee OF every
thing else or, at least. the price tdo~ f"'e!
things cannot be sold, unless dealers break an"
their assets are knocked of under forced sales.
Real estate, rents, provisions clothing, all ven
dible commodities, are now excessively blsn'
chiefly because interest is excessively eNorol-
tant. Cost Of capital is heavy item OF tho
running expenses and must be added 70 tho
nrice of what one produces OF sells. Nheh
nrices range above the means Of people o.
buy: that is. when usury takes more from tho
nroducer or merchant than can be got OF THO
,nsnmers. be fails aud the moRey-dcdierS
kindly devour him. Thus, from the usuror 10
the shoulders Of the manufacturer or farmer;
thence. 20 the shoulders Of the trader. who
passes it on TO the consumer, :his burthon 's
Shifted until, l;ke poor Siubad, bestridicn by
the old man of;ho sea, l1joreyS, under The who'e
iceigis Of the swindle appear The bowed and
/ dilauiduted creatures You see in The factories
+ and ON the street corners. IL Us estimated that
machinery iu England docs The work ct oyhS
/ hundred million of Mc8 that in Europe steam
alone rebelsf human power during the last
/ generation. Yet the vast energies Of invent
/ i've genius are compelled, by cunning .frdud.
/ tn serve class interests. Money now pays SO
mpcb larger profits in bonds aud stocks, than
/ IN productive enterprise, that capital lnovlta-
/ bly flows there \ few wealthy mauuiactu-
rers and merchants, in alliance with banks,
/ thereby secure immense incomes, but crush our
/ smaller ventures, iutimidate young citizens
from going into business, and impoveIish peo-
! pie generally.
through systematic monopoly Of land aud
money, English Capitalist, tor centuries, have
compelled Irish people 10 pay over most Of
their earnings in the form Of rent and interest
In extending the franchise, Parliament took
care 10 authorize " household not citizen
suffrage LAND aud money dominate. society
i, vassal every blade Of grass and bank-bil
votes but no man get What England is O.
Ireland. the cities Of this aud other nations, OK
rather the usurers. bond-lotls, and stockhold-
ers residing therein. aro TO aborors-absentea
c,uitalis's. who reap where they have not
sowu and gather where they have not strewn.
Hence. Gre per cent Of cur city population now
own more than me other nHey.fre per ctRti
and f,ceniy per cent. of the nation, more than
ejgLfy Der cent. Flctory Corporations coal,
iron. and copper mining; rail roads; express
and telegraph companies. all, aie ayowedly
controlled to enable absentee owners iwho
manufacture supply and demand p TO suit
themselyes) to take all products above what Is
barely necessary to keep ohre The laboTefs
thereon. Loud clamorers for protection
practice free trade in human beings; for their
: agents 10 Canada Europe. Asia, collect and
forward hborcrs to crowd down wages here
In the stately mansions of the capitalists
crowning every desiuble eminence, with hum
ble dwellings Of" The people spread around
lis base. We see dark barbarsms Of the ieudal
aces resident among us And II, 0bcdient TO
I the same hUNlt NIllu hihNh'i ifHh"Nif A''''''
den aud Washington to resist wrong IN thoir
day, workers ask more pay, public opinion
branding it as strike, allows the Capital
, st to 90 up to his gorgeous mansion, and the
laborer 10 90 down 70 bis hoyel and lis grarc.
An English sovereign, invested by " the man
in the moon at six per cent, compound in
tercst. in the year one Of the Christian era,
would now amount 10 a mass Of gold bigger
than the Garth and orr iairs would sur,cnac.
this planet 20 him as bis property Slave
, ry sold the body Of labor on the auction block
interest gets the use Of that body without the
responsibility or exponse inseparabe from
ownership. The net annual income ola man
work is. Tor instance, one hundred dollars
One thousand dollars well invested, pays 40
least one hundred dollars annual dividend J.
hence. the holder II thousand d0llaFs invest
I rnent otrHs q man smaller holders own wo-
? men aud children % the extent of what they
{ will yield" Thus, while we have freed four
S millions Of one kind Of slaves, interest holds
such an infinitely greater number Of human
cha,tes, that 20 this complexion II has come
at last, ace are al ECgroes Ho'g Not produ-
Ger, ,,suTy purIoins for just in proportion a.
absentee capitalists flourish, agriculture, mao-
ufactures and commerce-industry IN all its
5 manifold relations, IS cripple! and deiauded