The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-08-30

and then put it at interest at II per cent.
and reinvested the interest, he could, in
LOG years only, without any abstinence or
thrift, have fortune of s., 467 $50. So
much for interest VS.. thrift.
But the denial by socialists that interest
is right, and the similar belief OF many
workiagmen who are not socialists, is
based upon ignorance of the natural law
upon which interest rests. Interest for
the use of capital is just as natural and
right as wages for the exertion of labor.
Capital is that part of wealth which is
devoted to the creation of more wealth.
1t is stored up labor, although it may not
always be the labor of the capitalist him
self. It is the tool which enables labor to
exert itself more productivity, and is en-
titled to its share of the increased pro-
duct. If through the investment OF
SO, 600 in machines for making shoes 100
men are able to produce ten times as many
shoes as before, certainly proportion OF
that increased production should go to
the capitalist who furnished the ma
chimes. Much CT the popular confusion
in regard TO the rightfulness OF interest
fer the use of money arises out of the
mistaken idea that money is wealth,
when it is only the representative of
of wealth may bs exchanged for any other.
If it is wrong 20 charge for the use OF
81, 900 in money it is equally wrong TO
ask rent for house costing 81 900, or ask
any profits for 81, 600 worth of goods
loaned to any one for year. or any in
crease for the use of a flock of sheep or
herd Of cattle for year. All laws which
attempt to prevent usury by fixing the
rate of interest are as futile as would laws
be which would try to regulate wages,
rents or profits. The rate of interest is
subject to the law of supply and demand
as much as is the price of goods or of la
Dor. Interest much in excess of the nor
nal rate is in the nature of insurance for
the risk OF loss.
Experience in Switzerland proved that
the initiative and referendum alone, with
out proportional representation worked
unsatiafactorily. The injustice caused by
majority representation brough about the
Ticiro rebellion not long ago, and pro-
portional representation was, as result
of that disturbance, adopted in Switzer-
land. While the present agitation N ia
vor of the initiative and referendum in
this country is good and while that re-
form may be desirable, proportional rep
resentation is even more necessary. 1t
would prevent to considerable extent
that. unfair advantage which majorities
sometimes take OF a minority even when
that minority represents large number
Of persons.
The Labor party in Queensland has sue
ceeded in electing eighteen members to
the new parliament.
The strike of the firemen of Havemey-
er's sugar refinery again calls public at
tention to theinhuman sacrifice of human
lives on the altar of monopolistic greed.
The work of the fremen is most exhaust
ing 1t is carried on for twelve hours a
day and seven days week in tempera-
ture ranging from 40 degrees upward.
Five hundred men were overcome with
the heat last summer and were taken to
the hospital. 1t is known that many
threw themselves into the East river as
relief from the scalding heat. The men
asked that their hours might be reduced
from twelve to eight, and in return for
this concession agreed to tend four in
stead of three boilers.
tsI'Il be damned if we do it!'' was the
answer of the sugar king who had ac-
cumulated millions from the sweat
of his slaves. AS a result,
one hundred fremen and helpers
quit work and 1900 miserably paid work
men were thrown out of work The fire.
1ucA al Vic OAOOA4S LSAutEy aiSO cOEuCk.
These factories are members OF the Sugar
Trust. and their managers are not worry
ing any over the situation. Said one of
the officials: "What do we care. We
will get these men OF others to do work.
OF course we can't make sugar, but if
we were to thoroughly shut down for two
months, then the price OF sugar would be
raised point or two and we would make
money instead of losing it, -
OF course the men will lose the strike,
because there are thousands ready to take
their poorly paid and exhausting jobs.
What possible relief is there for such a
situation as this, except in disbanding
the great army of the unemployed, by
opening for them more opportunities for
labor? This would accomplish what anti
trust laws CAN never hope to do.
Labor organizations lose half their eff
fectiveness through internal strife and
jealousy of one another. Instead of being
thoroughly united in an effort to uplift
labor, they are too often at loggerheads
with one another, jealous of advantages
or numbers which others have secured,
and belittleirg the work which sister or