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

own capital, or do the true rights OF
ownership demand collective control
by the entire people?
Is the return to capital a legitimate
return or is it an unjustifiable appro-
rriation of the fruits of labor?
These are questions that are press
ing for an answer in the minds OF
many intelligent persons today. The
plutOcratic economists make no salts
factory replies. The truth, had they
but the courage to proclaim it, con-
dennis them as thoroughly as do the
misshapen phantasies of socialism.
Unwilling to meet the socialist, argu-
ment for argument, from fear of the
greater condemnation of truth, they
endeavor to belittle and stigmatize his
inquiries by cries of anarchy" and
robbery" 1t remains for the econ
omy of Henry George to refute and
expose the fallacies of socialism.
In examining the justice of private
ownership of capital, let us first deter
mine the fundamental rights of own
ership in general, bearing in mind
that capital consists Of labor products
used to create more labor products,
which definition excludes land from
the category.
1t is not difficult to locate the origin
G. the recognized possession that en-
ables a man to say this is mine;
unquestionably, such claims arise from
the right of the producer to the prod
yet. That which man produces by
his labor is his as against the whole
world and no man has moral right
to deprive him of it. Two men, three
men, a hundred men, community,
have no more right to confiscate his
earnings than has the one man. The
right of ownership lies in the right of
a man TO himself. This is the funda-
mental source of all true property
rights. The owner of property must
either have himself produced it, Sc
cured it by purchase or gift from him
who did produce it or from one who
could trace clear title from the
original producer.
Hence, any form of property to
which the owner can show clear
title from the original producer ad-
mits of private ownership.
Of all the various forms of property,
there are but two to which title OF
such origin cannot be granted, and
these are property in land (nature)
and property in men.
The private ownership of capital, to
which the owner can show a clear
title from the producer, is, measured
by this standard, perfectly and unde-
niably just
But capital, as one of the factors of |
production, receives a return called |
interest" what is the origin of this
re turn, and is it defensible as due
for value received?
In making this inquiry, it is imperi- |
tive that the payments to capital en-
gagged in production and payments to
and special privilege-such |
as appropriations by owners of rail-
road, Oil and timber lands, franchises,
patent rights, coinage privileges, etc,
and usury, which is the exaction Of
the professional money lender from
the needy producer-be kept separate.
Only the former is interest; the lat
ter Except in case of tariff, patent
and coinage privileges) is usually rent,
exactions by monopolizers of some
form of land values.
uGIc dlC tIICC LuOOCO VI WCdiLu |
growing, adapting and ex-
changing. The first includes such
operations as raising cattle, bees,
crops, etc., and in all operations Of this
class, nature performs a part aside
from the efforts Of labor. For in
stance, if turn out flock of cattle
IN a grazing country, will have on an
average an increase at the end of the
season. Similarly, there are hundreds
Of other operations in this mode,
which is necessarily a most extensive
one. Suppose that loan is made Of
capital of this class. Let the loan be !
/ lamb for example. Clearly, the bor- '
.ower should return at the end of {
he season, not lamJ, but sheep;
hat is, the original loan plus it's nat {
lral increase. In this case, the return Y
n excess of the original loan is I'M '
just g
The second mode includes all those r
operations necessary to the alteration c
# the inert matter Of the universe in G
O shapes fitted to satisfy the desires L
# man. The manufacture Of chairs,
ables, machinery, etc, is of this mode. Il
obviously no natural increase attaches a
0 capital OF this class. n
The third mode embraces all those s
IL Ia nra<n n