Sequachee Valley news. (Sequachee [Sequatchie], Tenn.) 1896-1952, 1904-10-20

sub O0BCks AZ paEB ho"a "A@N
have you in the property Of the Associa-
tion2" be asked.
"No more, suppose, than l would
have had in the case Of the capitalist, "
| answered
Brother" said the Secretary, ''you
have s12O in Hs permanent 7OEahA Of the
Association, which the capitalist would
have had il we had used his money in
stead of our Checks. We capitalize the
work of our members, instead Of capi-
talizing money or checks. The money
system is very vicious one, brother.
1t robs the producers, and they do not
know how it is doing it. The joint or
combined work of men produces two
classes of wealth. One class Is consum-
able, such as food, clothing, tools, medi-
cine, etc., etc. If this sort of wealth is
not consumed after certain time 1t per-
ishes. The other class, such as build
ings, factories, mines, ETC., Is not con-
sumable. 1t can be used but not con-
sumed. Now, then it is evident that
that the workers produce both classes,
but can consume only one class. The
other remains sometimes for genera
tlons. Now, you, with others, built
that house you rented of US but con-
sumed only the use Of it in rent, but
not the house which stands as good as
ever, Now see the delusion you live
in. If we had called upon you to take
stock In that house and you had inVes
ted $120 in the same, then rented 1T one
year and paid S12O rent, would you not
consider that you would be entitled to a
portion Of that rent equal to the portion
! of capital you invested? Certainly you
would. Now because instead OF dead
J money, you have invested labor, you do
not think youtself entitled to any part
nor parcel of such rent. told you that
the Labor Exchange capitalizes labor
and its products, and we consider that
| you and the balance who helped 70
helped to build that house, or furnish
ed the materials are the true OaORerS OF 1t
as long as it lasts. Hence the portion
of rent that you would have been enti-
tied to, If you had invested money, we
we consider you entitled TO for having
inVeSted labor, and we hold it for your
benefit in the Association. The Checks
we paid you we intended to supply you
and yours with consumables, with edu-
cation and enjoyment but will never
garry amay yOty portion Of the permenen
that you build or help to build. Com
pare, brother, the CapitahStic and CO-oper'
atiVe SysttmS.
Under the capitalistic or money system
a capitalist pays out money to build I
house In six or eight years he gets al
the money back in rent and owns botl
house and money. The U0rkeyS did al
and he gets all No wonder that the
capitalists continue to add house tt
house and labor falls back destitute
Had all the improvements in the worlC
been done on the plan of the Labor Ex
change they would now belong to tht
, workers. Let them choose between the
J two systems. If they desire to rise anC
surround themselves with comforts tht
new system is the proper one; If the.
prefer poverty the old one is the best.
Continuing the Secretary said TO M
, I'VE have yet another feature in th
Labor Exchange System, which shoult
be highly priced by the worhing class
es. This is the protection thrown aronn
: Shem against prowling speculators. BE
ing organized as Benevolent Associa
tion, our charter does not allow us t
speculate, to realize profits and to de
clare dividends. Some may object t
this feature, but we regard it as tn
very foundation Of the institute tion, ant
, the best for the members. These vii
l rise all the time in wealth and no spec
/ ulator can rob them of their permanen
: share of such wealth. Let me explai
| this feature. Suppose in your case yo
: sold your $120 Checks for, say $50 /
| gold. Said speculator or his associate
Y could have bought S12O Of merchandis
s in the stores of the Association, Will
Y you could only have bought 500 worth
q or be could have rented the house an
r lived in it one year, while you coul
have occupied it only six months. Bu
: in either case when his Checks ha
5 been received and cancelled, we woul
u not recognize him as having any furtl
: er interest in the Association. Yo
b had been the original deposit tor or worl
o er, and hence you will e0sy be the one W
recognize as the 01OHer of the wealth
No tricks Of spectators nor mistakes
r yours will ever deprive you and yor
family Of that portion"
1 Here / asked him whether I could M
# buy house and lot from the Associ
tion and pay with with Checks He r
Q piled that could, provided that coul
) prove that had deposited as much ,
i the value of the house in the Associ
:, tion, but not il my deposits fell short
9 said values, no matter VIII,
/, amount Of Checks may have possesse
n Then resuming, Consider, brother
what immense difference it would max
in the condition of the working ella,
l. ses to-day, II our towns and cities. RAJ
/. roads aud steamboats,, and all the pc
r,uuamt fp,vw,,-...z-.-