The Hocking sentinel. [volume] (Logan, Ohio) 1871-1906, 1895-06-20
THE PRIMMER BOOK
Of Political Economy Designed
For use i'm High Schools and
Dedicated to the Rising
Generation OfyOung
Americans.
COMPLIED BY MARTIN kAGAY.
For the Sentinel.
CHAPTER FOUTH.

discoveries add to the productive
power of labor, to be found in laws
and customs which govern the dis
tribution of the combined earnings
of Land, Labor and Capital?
The answer to this question is
what we are looking for, and next
to finding it, is the value of know
ing where it is useless to look.
1t is useless to seek the answer by
the theory that the increase of la
borers constantly tends to diminish
the share of each by dividing the
capital which is said to employ la
bor, for, as has been proven, wages
is not paid from capital but is paid
from capital hut is paid from the
products of Labor.
It's equally useless to seek the
answer, as Nautilus and his disciples
have done, by contention that it
is caused by failure of the means
of subsistence to keep pace with in
crease of the population, for, as has
been demonstrated, the laborers who
produce the increase wealth in pro-
portion to their number, also pro.
duce the means Of subsistence which
is only that part of wealth that is
laid by for immediate or future use.
These twin heresies will die with
the barbarism that produced them
for men are no longer paid to keep
them green by constant watering.
Long journeys to exhume these
heresies, or their Legitimate Off
spring, such as protective tariffs on
goods or emigrants, to make their
foetid jaws repeat the errors of the
past, will soon be abandoned.
The twentieth century like the
snndown Of the nineteenth, will de.
mand to know the naked truth and
not the lies, told and rehashed, for
the last thousand years. Lease
holds will become free holds, and
land will no longer be monopolized
by men who never paid for it and
could not have good title if they
tried to pay for it.
Science has shaken hands with
religion and neither is hostile to
the other.
Both houses Of Congress and of
Parliment will consist of fewer men,
bers, but these will be chosen be-
cause they serve society and not be-
cause society is slave to them.
The tax ga,herer has long been a
ghost on the door step and will be-
come messenger of dividends to
The household when the sun rises to
illuminate the true lessons of social
and political economy. beg par
don for this innocent digression
which is mostly ohargable to an in
terview with my prophetic friend
Joe Parker, and uow return to the
chase after the monster that causes
innocent children and their pale
mothers on this earth to cry for
bread where there is lots of it going
to waste, some of it used for fire.
wood in parts of our western do
mains.
Let us search for the law which
determines, as if by predestination,
what part Of the produce is distrib-
uted to Labor as wages. To make
sure we have found this law, it be
necessary to find what part
goes to capital and what part goes
to land, because it is land labor and
capital that unite in production,
and, therefore, it is between these
hree factors that the total produce
must be divided.
When 1 speak of produce l mean
The wealth produced by the three fac
tors, and when l speak of interest, or
the share of capital, / mean what
goes to capital after its replacement.
What goes to government, is left out
IF the equation, the same as what
goes to replace land fertility and
wear and tear Of machinery, and any
ike consumption of product.
From the solution is also elimi-
,ated the part taken by certain forms
'f monopoly which exercise powers
similar to government taxation.
This is done for the reason that when
We have made sure of the laws Of
distribution, we may easily find what
relation these forms of monopoly
sustain to the effects of NAL distribu.
ion and what bearing taxation may
lave upon them.
In all works upon political-econ
'my, We are correctly informed that
he three factors of Production, are
Land, Labor and Capital, and that
he whole produce is primarily dis
ributed among these three producers
md that rent is the share of land,
wages is the share of labor and inter
st is the share of capital, but as to
he share of capital, as defined IN the
tandard works, there is puzzling
onfusion and a eonfounding uncer-
ainity. This flows out of the false
pprehension that capital employs
abor, and having thus laid defec-
i've foundation the whole edifce be- ,
ONES more and more defective and
eeds expensive repairs as long as So ;
iety is willing to foot the bills, OF {