The Labor enquirer., 1884-08-02

- sShst 50 b l,6est befl ~
,ln1r yet the repre ~
"a ~ Ard ypa ~. N
- 5iS Vhyts che cieis1e n1pa13 -
bS5a' - s. espttsj saia - and il
! Z Ri 4 zhse pd linn = fhs bond5|
svs, h 6uS StIofn, / Z citsd i6s ~ that tle|
xcvorna5en burned ap the money o.
fhs peoule ! and Id Hen theteof bonde
- i . ls;nediand hets tbose bdude syfss3e'
= 'rrsur,sssu6st;yes z d. capital. hs issds
~ Isl thI& I&hef, hdonsy M skk creature
of IN, but that this. money which was
IN c;ircuIafon among the people, vas
.i,af11l 1Hi rbonds f1sued on - 4sles. ]
4aiops bonds wsfs tanI Snd
I !, & s = I'D SspitaI i b6lieye thb Sss
The iaus
Yod ssy, Everybody concludes that
iabor Is the producer Of wealth, and that
iihaod iihaod1gy Is tie creature II law: nov,
-this being 8, I shall endeayoF To- show
how money sths creature Of law be-
comes by labor transferred into bond
and when 81, transferred this Creature
OF laEu BY Is transferrence into bond
sanh 81 tie ,ther law Of intsfss On those
bind, hSld, the industries of thlsstoun-
) 'tiy by the iliroat till nearly strangula fion
point
In Illustration of how this money sthe
creature oflaw,n becomes transformed
into bond will take washerwoman
in your own state. Mlchigan she, By the
aid Of the wealth, i. e.. lard and some
other portions that was in the hog she
killed for her own use, along with ashes
H6mswood that she had used In COOLING
and keeping her comfortable mot wealth
but the ashes OF what was once natural
wealth. together with kettle and wish
tub, {beth wealth. and assisted by one
of natures agencies, water, she starts IN
business washing to gain living. Now
all of her tools were wealth, how did
she convert them into capital
Mr.. George tells us that capital is not
fixed quantity, but can always be in-
creased or decreased. First, by the
greater or less application of labor.
Second, by the conversion Of wealth into
capital or capital into wealth, for capital
being but wealth applied in a certain
way, wealth is the larger and inclusive
term. Progress and Poverty, page 14S.
Now this woman, by simply convert
ing her wealth into capital, she by her
labor was enabled to add to her capital
$40, and by 80 doing she turned her
capital into wealth. lido not think that
anyone will deny this, for Mr.. George
admits itin the foregoing citation. Now
this being 80 I ask if these $40 "the
creature of law does not become capital
or wealth, for the terms are interchang-
able, according.to Mr.. George.
Having established the point, that this
woman's labor. added to her capital, $40,
now let US see how these $40 might
become transformed into a bond repre-
senting $40. var ,t5r
Some time ago when Mr.. Sherman
was secretary of the treasury and he, as
representing the government, caused
to be issued 100000 bonds at the low
denomination of $40 each. AS he said,
Just to meet the cases of such individuals
as our washerwoman, she taking Mr..
Sherman at his word and for safe keeping
and drawing interest in advance, bought
one of the government bonds with her
$40 ofscapital, ,or wealth Il have shown
that the terms are synonymous. Now I
ask, would or would not her bond repre-
sent her capital, if not, what would it
representa- And if it did then you and
Mr.. George have lost your case. ANY,
Now, so far as our washerwoman's
bond was concerned, the government
might burn up these $40, or blow. them
away from cannon's mouth. This is
what they were actually doing when
contracting the currency or money of
the country. destroying this creature of
law" by Just so much, ,,a,y.g. r, .4ra
But this is not alEthere is ito this
washerwoman's bond, for after inyestirg
her $40 in the bond l shall now proceed
to show you that the bond, equally with
herself, turned intoa worker: Es,ta9l
When she, in parting with her sur
plus labor-capital for the bond was
left with the same advantages as when
she first made her start in washing, and
when she, bought the bond she acquired
the additional one of the bond drawing
its per cent tper snnum, thus becoming
by the claw" of interest a co-worker with
herself, and BY the law of taxation this
bond reached out and took from some
one else this 8 per cent per annum; and
so far as she pays taxes to the govern
mens she herself contributes to this. 8