The independent. [volume] (Lincoln, Neb.) 1902-1907, 1903-08-27

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labor in concrete form, should be re-
munerated for that service as well as
for his labor as dry goods clerk, is
patent to any right-thinking man.
Now all of the natural increase that
attaches to exchange, cannot be
claimed by the capitalist: neither can
he claim with nature open to all on
equal terms) all the wealth produced
by the laborer above that which will
Larely suffice to keep him and his
family, as is claimed by the socialist.
While nature has ordained that man
shall be paid for the use of his stored
un labor, she has been careful to see
that the payment shall be no more
than is just.
There is. evidently nothing in the in
crease arising in exchange to deter
mine the amount accruing to capital.
We can only say that it is regulated
by competition, but this is like say
ing that a locomotive moves forward
lecause it's wheels revolve.
The secret, then, lies in the repro
ductive modes.
All wealth obtained from any given
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upon the most desirable land oEen TO
free use goes to the land owner in pur-
chase price or periodical payments.
This is an axiom acknowledged by
all the authorities of economics.
Thus the amount going to capital OF
a given value in any branch OF INDUS
try can be no greater than the return
TO capital of the same value used in
the reproductive modes on the most
desirable land open to free occupa-
ton.
When a considerable amount of cap
ital occupies cheap land, as in the
case of a large factory in the coun-
try. the return to land is not TO be
measured by the amount paid for the
lot, as short sighted socialists con-
tend. This is but very small part OF
rent Land of every description, the
products of which enter into the man.
ufacturer's business, levies rent upon
rim through the cost OF raw materials.
Let the capitalist manufacturing cot
ton cloth, say, make more than the
normal rate of interest, and others
will if there is no monopoly OF cot
ton or transportation land) enter the
business: there will follow an in
creased demand for cotton and since
more wealth can then be obtained from
cotton land, the price of the land
regulated by the wealth obtained
from it in excess of that to be OBJ
tanned up free land) will go up, with
a corresponding increase in the price
Of raw cotton.
To state the law of interest con-
cisely: Interest, the return to capital,
is regulated by the natural increase
arising from the reproductive forces
Of nature, and its average amount will
be that which can be secured in the
(growing) modes, on the
best land open to free use.
Thus, the amount which the owner
If a labor-saving machine may de-
nand, is not all the product in excess
If an amount sufficient to afford but
bare living for his employee, but only
portion equivalent to what could, on
he average, be obtained by the en-
1loyment of capital of equal value in
he reproductive modes on the best
rec land.
Wages are regulated similarly, and
{ only a sum sufficient to afford a
are subsistence remains for the la
,orer, it is plain that in the quality OF
he free land and misappropriatlon OF
and values, and not in the upright
,ousness of interest, lies the cause OF
he trouble The wages of those la
,orers engaged directly on the land
re determined by the wages they can
make working for themselves on the
,est free land The wages Of all 9TH
r classes are based on these
But" says the socialist" if the
tate assumes control Of production,
his return will go to the consumer
n reduced prices; society will be the
apitalist and asks no interest" c
But this is return that the con- i
umer owes capital, just as truly as |
e owes a return to labor In fact. 1t 9
vill be seen that capital being but {
tored up labor interest is but form r
f wages anyhow. To evade its pay 1
tent we must deny the natural righ' {
! the individual to engage in produc- i
On, and substitute for natures just c
Id infallible laws, corruptible and =
illible officials with power TO direct 7
reduction and regulate wages. I
Referendum or no referendum, such t
breach of natural rights would re- r
lit in reign of despotism and cor s
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