The Louisiana populist., 1894-12-07
LABOR AND CAPITAL.
What Are Their Mutual Relations and What
Should Be Their Relative Compensation.

" nat Are Their N utuaI Relations and What
Should Be Their Relative Compensation.
Mr.. j. A Wayland: In reading the Coming
Nation / am In q continual state of provoca-
ton, my anger and disgust alternating between
the oppression Of organized capital, trusts and
monopolies largely aided by the two old parties
on one side, and against the sophistry, mis-
statements and fiction you indulge in on the
other. One would think the unexaggerated
truth sufficient to arouse the people IL you say.
for instance, that interest rates are about
double what they should be, the evidence is
cumulative and positive; but to claim that
capital does not add to the productiveness Of
labor, being thus entitled to part of the prod
uct, outrages coAmon sense Yours truly,
c. BIRDsELL,
Chairman Essex Committee Populist Club.
Newark. N. J.
lam acquainted with such populists
have met them often-used to think
that way myself. But you'll learn
better after awhile or else join the old
parties. 1 say that capital is not en-
titled to any part of the product of
labor, should not be taken into account
more than the number of hours labor
in producing the capital. The
millions invested" in the postal
system do not draw any
part of the amount Of the labor en-
ployed. Interest, rent or profit-being
the same in final analysis under present
social customs-are wrong. One per
cent. interest is the same kind of wrong
that 100 per cent. is, only lesser in de-
gree. Any scheme or theory that will
give any man or woman an income ex-
cept by their own productive labor,
xxysf &c
less we indorse human slavery as right.
There are yet few leaders" who
want reform" but not reform that
will render laborers Independent of
their capital" Still the masses are
learning truths faster than these lead
ers and new civilization in which
men, not capital, will be the only ele-
ment considered.-Coming Nation.
Capital is inert, unproductive matter.
Not labor, but labor's products,
which while produced by the many
are acquired and held by the few.
If the assumed capitalist is the real
owner of capital used lin the form of
buildings, machinery and tools of pro-
duction) in the production of more
wealth, and such capitalist receives
wages for any labor or any services
performed, he is repaid for the use of
his capital by having it made good to
him in renewed or new form, when
worn out, or when he quits the busi-
ness. This implies share of the COM
mon product sufficient for repairs, in
surance and the final replacement when
worn out. Assuming Ia far-fetched as
sumption) that all capital has been hon.
estly acquired by labor, such capital
represents the wages for such labor
and is the evidence that such labor
was paid for once. If such cap
ital is afterwards allowed to
draw interest, or wages beyond enough
for insurance, repairs and replacement,
the original labor performed is, sooner
or later, paid for tscice, which is not
only a palpable injustice, but also re-
suits in the final concentration of all
wealth in the hands of the few. With
government banks and interest rates
reduced to the cost of carrying on the
banking system, capital in the form Of
tools of production, etc, might be ac-
quired virtually free from the burden
of interest upon money. The fact that
nearly all industrial capital is now
represented by interest bearing bonds
is the basis upon which the plea for
capitals reimbursement is built De-
stroy interest upon money and capital
would have no alternative but use for
the guaranty of replacement; j. e.. re-
turn as good as new, or unimpaired in
value GEORGE c. WARD.
L. -. 4 IL De-,