The Labor enquirer., 1884-02-16
Hu REMrDrEs.
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On the other hand, the law says to the
landlord, in effect, that he must stop
drawing rent from the earnings of bis
tenants in other words, that he must
not own the homes of others; that he
can no longer be landlord. But that
in order to do him no injustice, he shall
have twenty years in which to make
terms with the tenants, whereby they
shall have the property at the end OF the
term. If he shall not sell his houses be-
fore that time,. they viii be burden
upon his hands until he does ; for the
taxes viii have to be paid. And as he
will have no income, he will have no
means of paying them. Hence, he will
have no reason for keeping the property,
but will have every incentive to get it
off his hands at the best price possible.
While for years the tenant will have
had before him prospect, a certainty OF
owning his home, if he will be frugal
and industrious. There will be every in
centive for him to do 80. And with such
strong incentive on each side. every
tenant ought to be able to become pos
sessed of home of his own.
The result of this law would be to
abolish landlsrdism and tenantry. The
s2,0O0.OO 600 net which the tenants have
yearly paid to landlords in the United
States alone, and which has gone to sup
port the landlords in idleness and lux
ury, will be left with the tenants and
they can devote it to identifying their
homes, fertilizing and improving their
farms, educating their children, and rest
ing little themselves. A''''v>+f 3 J.
The land will be full of homes. Every
man will be deeply interested citizen,
anxious for honest government; every
man will be patriot, and love the land
where he has q home, and with whose
interests his own will be indissolubly
united. ~ al
Secondly the passage of an act pro-
yiding that from and after five years after
Its passage, no interest, profit or benefit
of any kind shall be paid or received for
the use of money loaned after the pas
sage of the act.
This would. of course, abolish mort
cages, trust deeds, notes, guarantees, etc.
1t would abolish money-sharks, Shy
locks, foreclosures, protests, and the word
Debt would be practically wiped from
the language. The worry and anxiety
of the man who owes and cannot pay,
would be saved to society. The earnings
of family would not be taken out of
them year after year, as interest, and
their home finally taken from them, and
they turned out. 1t would abolish doing
business on borrowed capital; but it
would not iniure true commerce. The
merchant who owed nothing, and owned,
not only his stock, but his store building
and the ground as well, would certainly
do healthier and safer business, and on
a smaller profit, than one, who was not
only paying rent for his store house and
the land, but paying interest on his stock
of goods as well.
The time for the operation of the law
against interest is shorter than that of
the law against rent, as the money would
not decrease in value, while the real es-
tate would. The owner of real estate is
given larger period. so that he may
have a chance to dispose of his property
without loss.
Thirdly the passage of an act re-
pealing all laws under which corpora
tions, other than municipal, are organ
lied, and prohibiting their future organi-
zation.
A full discussion of this branch will
not be undertaken here, inasmuch as it
is reserved for separate and special vol
ume. But it may be said that the objec-
ton to corporations which is most rele-
want to the question under discussion, is
that>they give an opportunity for people
to invest their money, and receive an in
come from it upon which they may live
without work.
First, we have the stockholders, who
must be paid dividends amounting to
from 5 to 7 per cent upon their invest
ments.. The amount of railway stocks
in the United States is about $2,500,00
0OOl upon which there is paid yearly
about $25, 100000 as dividends
And then we have the bondholders,
who must be paid their interest of all.
There is.a bonded debt upon railways
in the United States of about $2D0o,0OO,-
600; upon which there is annually paid
about $125, 100000 interest; thus making
a total of S25O,OOO,OOO, or1$4, 600 fofevery
mile, which the railways of the United
States must earn every year, over and
above their operating expenses
And the way they earn it is by charg-
ing it in freights and fares Who pays
the money! The producers, the labor
ers of the country. Who gets it? The
idlers, the barnscles, the aristocrats, the
bluodsuckers of this country and Europe,
The farmer pays more freight on his
produce than he should, and hence gets
less for it :; and he pays more than he
should for his manufactured goods, be-
cause he has to pay this extra freight.
But that's notall. The manufacturing
corporations of the United States paw in