Part 24 (1/2)

4. Finally, interest on money is the condition of capital's circulation and the chief agent of industrial solidarity. This aspect has been seized by all the economists, and we shall give it special treatment when we come to deal with credit.

I have proved, and better, I imagine, than it has ever been proved before:

That monopoly is necessary, since it is the antagonism of compet.i.tion;

That it is essential to society, since without it society would never have emerged from the primeval forests and without it would rapidly go backwards;

Finally, that it is the crown of the producer, when, whether by net product or by interest on the capital which he devotes to production, it brings to the monopolist that increase of comfort which his foresight and his efforts deserve.

Shall we, then, with the economists, glorify monopoly, and consecrate it to the benefit of well-secured conservatives? I am willing, provided they in turn will admit my claims in what is to follow, as I have admitted theirs in what has preceded.

% 2.--The disasters in labor and the perversion of ideas caused by monopoly.

Like compet.i.tion, monopoly implies a contradiction in its name and its definition. In fact, since consumption and production are identical things in society, and since selling is synonymous with buying, whoever says privilege of sale or exploitation necessarily says privilege of consumption and purchase: which ends in the denial of both. Hence a prohibition of consumption as well as of production laid by monopoly upon the wage-receivers. Compet.i.tion was civil war, monopoly is the ma.s.sacre of the prisoners.

These various propositions are supported by all sorts of evidence,-- physical, algebraic, and metaphysical. What I shall add will be only the amplified exposition: their simple announcement demonstrates them.

Every society considered in its economic relations naturally divides itself into capitalists and laborers, employers and wage- receivers, distributed upon a scale whose degrees mark the income of each, whether this income be composed of wages, profit, interest, rent, or dividends.

From this hierarchical distribution of persons and incomes it follows that Say's principle just referred to: IN A NATION THE NET PRODUCT IS EQUAL TO THE GROSS PRODUCT, is no longer true, since, in consequence of monopoly, the SELLING PRICE is much higher than the COST PRICE. Now, as it is the cost price nevertheless which must pay the selling price, since a nation really has no market but itself, it follows that exchange, and consequently circulation and life, are impossible.

In France, twenty millions of laborers, engaged in all the branches of science, art, and industry, produce everything which is useful to man. Their aggregate annual wages amount, it is estimated, to twenty thousand millions; but, in consequence of the profit (net product and interest) accruing to monopolists, twenty-five thousand millions must be paid for their products.

Now, as the nation has no other buyers than its wage- receivers and wage-payers, and as the latter do not pay for the former, and as the selling-price of merchandise is the same for all, it is clear that, to make circulation possible, the laborer would have to pay five for that for which he has received but four.--What is Property: Chapter IV.[17]

[17] A comparison of this pa.s.sage, as given here, with the English translation of ”What is Property” will show a marked variation in the language. This is explained by the fact that the author, in reproducing the pa.s.sage, modified it considerably.

The same is true of another quotation from the same work which will be found a few pages farther on.--Translator.

This, then, is the reason why wealth and poverty are correlative, inseparable, not only in idea, but in fact; this is the reason why they exist concurrently; this is what justifies the pretension of the wage- receiver that the rich man possesses no more than the poor man, except that of which the latter has been defrauded. After the monopolist has drawn up his account of cost, profit, and interest, the wage-paid consumer draws up his; and he finds that, though promised wages stated in the contract as one hundred, he has really been given but seventy- five.

Monopoly, therefore, puts the wage-receivers into bankruptcy, and it is strictly true that it lives upon the spoils.

Six years ago I brought out this frightful contradiction: why has it not been thundered through the press? Why have no teachers of renown warned public opinion? Why have not those who demand political rights for the workingman proclaimed that he is robbed?

Why have the economists kept silent? Why?

Our revolutionary democracy is so noisy only because it fears revolutions: but, by ignoring the danger which it dares not look in the face, it succeeds only in increasing it. ”We resemble,”

says M. Blanqui, ”firemen who increase the quant.i.ty of steam at the same time that they place weights on the safety-valve.”

Victims of monopoly, console yourselves! If your tormentors will not listen, it is because Providence has resolved to strike them:

Non audierunt, says the Bible, quia Deus volebat occidere eos.

Sale being unable to fulfil the conditions of monopoly, merchandise acc.u.mulates; labor has produced in a year what its wages will not allow it to consume in less than fifteen months: hence it must remain idle one-fourth of the year. But, if it remains idle, it earns nothing: how will it ever buy? And if the monopolist cannot get rid of his products, how will his enterprise endure? Logical impossibility multiplies around the workshop; the facts which translate it are everywhere.

”The hosiers of England,” says Eugene Buret, ”had come to the point where they did not eat oftener than every other day.