The sun., 1893-05-07

the next to recognize q purchase. can one
generation bind another to recognize q
leasep Nay. more. is there any reason why
the doctrine OF reputation should be confined
to pledges respecting either the tenancy OF
| the ownership OF land2 II oil owners OF land
| great and small. may be robbed and ought to
be robbed Of that which society has from
| time immemorial, encouraged them to ac-
| quire: II the thousands OF men. women. and
children who directly and indirectly live on
rent are all to DO ruined by the conflscation OF
| the fund on which they depend. are there not
| other funds which would be all swept into the
! same net OF envy and OF violencs2 What. for
| instance. is to become Of that great fund on
which also scores and scores OF thousands de-
pond. the fund which the State has borrowed.
and which constitutes a national deht2 The
Duke Of Argyll thinks that even In Progress
and Poverty" could be discerned individual
passages which indicated the goal In this d-
rection. 1t is charged that in his later book.
Social Problems" Mr.. George hns had the
courage Of his opinions. and that the logic OF
deductions from false premises has steeled
his moral sense against the iniauity OF even
the most dishon orable conclusions. As no
faith Is duo to landowners or to any
who depend on income from tland. so nci-
ther Is any faith TO be kept with bondhold-
ers, or with any who depend on the revenues
which have been pledged to them. Jew
who may have lent million and small
tradesman who may have lent his little saw
inEs to the State. tho trust funds OF children
and OF widows which have been similarly lent.
are all equally to DO the victims OF reputation.
To Indicate the proportions OF tho ruin which
would lie caused by such an act. the Duke of
Argyll takes the cnse OF England. reminding
us that $3.50 millions OF dollars Is the am ouut
OF her public debt. This great sum is held by
about 1Sl.721 persons. OF whom great ma
jority. about 111.OOO receive dividends
amounting to $1,000 a year or under. or
these again. by far the greater rart enjoy IN
comes OF less than $500 year. Moreover, tho
same principle Of rcpudlation would. Of course.
DO applicable to all kinds OF public Iouds;
those OF the English municipalities alone
amounted some years ago to about 1000 mil
lions OF dollars
Tho Duke docs not hesitate to say that in
his opinion the world hns mover seen such a
creature OF unrighteousness as Mr.. Henry
George. The author OF Progress and Power.
ty' and OF Social Problems" goes to tho
roots Of things and shows how unfound-
ed arc the rules OF property. and what mere
senseless supersttions are the obligations
which have bsen only too long ack nowlcdsed
Tho following passage in relation to national
debts is quoted as an example OF what the
Duke calls his proniGate conclusions: Tho
institution OF public debts. like the institution
Of private property in land. rests upon the pre-
posterous assumption that one generation
may bind another generation. II a man were
to come to mo and say. Here is n promissory
note which your rgrest-grandfather gave to my
c creat- grandfather. and which you will obliSe |
mo by payioE. would laugh at It. and tell |
him that II he wanted to collect his motto, he |
had hotter hunt up tho man who made it, that |
had nothing to do with my eat-grand- |
fathers promises. And IL he were to !
Insist upon payment. and to call my at
fenton TO the terms of the bond in |
which my great-grandfather expressly stipu- |
nted with his great grandfather that l sh ould |
pny him. l would oUly laugh tho moro and be
nore certain that he WAS n lunntic. To such q |
demand any one OF US would reply in effect: |
NY great t-gfandfather wus evidently knave
Or joker. and your grcnt- grandfather was
certainly fool. which quality you surely have
Inherited IL you expect me to pay you money
because my great t-Grandfather promised that
should do 30. He might as well havo given
'our grcat-grandfather a draft upon Adam. or
check upon the First National Bank OF the
hoon.' Yet. upon this assumption that as
'endants may bind descendants. that ono
may leptslato for another penera.
ion, rests the assumed validity Of our land
tiles and public debts"
This passage seems very shocking to tbo
Duke, but he says that not even here do WA
ouch the bottom of MIR. Georpe,s lessone In
he philosophy OF spoliation. II the state mav
AXE tho property OF those who have trusted to
ts honor. 1t may still more lawfully take the
Of those who have placed in 1t no
uch confidence. II the commonwealth may
leece the public creditors it must be nt Ienst
uualy oren to Il to fleece all those who have
nvestc ed otherwise their private fortunes. All
he other accumulntions o! Industry must be
5 rightfully liable to confscation. Whenoyer
he people see any large handful in the hands
I any one they have u rleht to take It in
rder TO save themselves from nny ma.
|