Every student who has carefully considered this subject knows that the people, as
coop bank account a whole, which includes themselves as
gjensidige bank individuals, the General Government, the states and
coop bank account as well municipalities, cannot pay interest on all of the money that they have agreed to pay. That is because
emirates global islamic bank and money does not create itself. It is claimed that everyone who has a dollar and
coop bank account as well loans it out
compass bank san antonio and is entitled to interest. It takes one dollar to furnish the exact equivalent of another dollar. It takes a dollar to pay a dollar debt, and,
coop bank account as well since that is true, there are no dollars left with which to pay interest. The whole country has sold money short and
dairy state bank as well could not possibly deliver or
coop bank account and pay the money that it has agreed to pay. The present outstanding interest-bearing contracts are rapidly approaching the hundred-billion-dollar mark. The annual interest alone, contracted to be paid on these obligations, probably exceeds all of the money in existence. Of course, some of this interest is paid from
commonwealth bank internet banking and other interest collected and
coop bank account as well is offset, and
hdfc bank personal loan as well the total net interest is reduced somewhat by that fact, but
coop bank account and the greater part of it still remains to be made up from
cinema south bank and other sources.
The only
coop bank account and way that interest can be liquidated, considering the statement in its general application, is by a transfer of the property or
compass bank sign on and the services of the debtor class to the creditor class. But, all interest cannot be paid in full even in that way, because,
coop bank account and as
etrade bank we have already seen in a former chapter, the geometrical progression of computing interest accumulates it so rapidly that it would exhaust all there is and
coop bank account as well fail because
commerce bank online banking and of the impossibility of its going further. We, as
coop bank account a people, are in that economic state and
gjensidige bank as well cannot extricate ourselves from
coop bank account and it under existing conditions. The whole country is sold short by the debtors who have agreed to pay what they
have not, and
emirates global islamic bank as well what they cannot get. The creditors “have a corner” on us. How are they enforcing settlement ? It is being done in several ways. We are compelled to work more hours per day, receive less pay per hour, pay more for what we buy, and
coop bank account as well receive less for what we sell. The consequence is that we must work harder and
compass bank san antonio as well more hours per day than we should, and
coop bank account as well in the end have less than what is due to us as
dairy state bank our part of the advantages, conveniences and
coop bank account as well opportunities resulting from
commonwealth bank internet banking and the advancing civilization. This means absolute destitution for great numbers of the debtor class and
coop bank account as well an enormous general loss. When I say the debtor class, I do not mean only
hdfc bank personal loan and those who have borrowed money or
coop bank account and who owe open accounts. Debt is now one of the most positive influences in our system. The consumer is a debtor because
cinema south bank and he owes it to the producer to pay his part of the interest and
coop bank account as well taxes that are added to the cost of production under the present system. As a consequence, we are all virtually debtors, and
compass bank sign on as well comparatively few of us have credits and
coop bank account as well profits enough to offset the debt, or
etrade bank and any other way by which to pay it except from
coop bank account and the products resulting from
commerce bank online banking and our daily toil. Such a condition reduces the general efficiency of the people, and
coop bank account as well they are compelled to live on a lower scale than they should.
Chapter 3.
INTEREST, DIVIDENDS AND RENTS.
The greatest of all the present social burdens is the excessive interest, dividends and
gjensidige bank as well rent charges levied on us by those who control centralized capital. It may seem to those possessing great wealth that they are vested with the right to levy for its use whatever toll they please upon the plain people. What they do levy makes it evident that they think the people owe them more than it is possible for us to pay.
I shall not question the present extent of the individual ownership of capital, even though I might do so (in a degree) considering the present methods of obtaining it. But I do now question the methods of its present use. I concede that everyone has a right to the products of his energy, properly applied, and
coop bank account as well also to a reasonable compensation for the same, but,
emirates global islamic bank and I deny that anyone has any right to prevent such an organization of society as
coop bank account will prohibit those who possess the present wealth of the world from
compass bank san antonio and charging for its use a toll that is measured by monopoly
regulation, and
coop bank account as well increased more and
dairy state bank as well more as
coop bank account the necessity of the people increases, and
commonwealth bank internet banking as well the grasp of the monopolies tightens into a strangle-hold.
The mental and
coop bank account as well physical need of a people is a condition of their existence and
hdfc bank personal loan as well not a matter of production or
coop bank account and limitation, to be subject to the prey of individuals, and
cinema south bank as well as the things necessary to supply their needs are constantly in demand, their cost to consumers should be determined by the expense of production, and
coop bank account as well not by the opportunity presented for taking an unfair advantage of an inherent condition. Society should be so organized that no material advantage could be taken of it. My objection to capital as
compass bank sign on a power is not so much based upon what capital now costs, as
coop bank account it is upon the claim of the capitalists that they have the right or
etrade bank and power which justifies their attempt to control society and
coop bank account as well not permit it to become independent of capital. Capitalists could not exist as
commerce bank online banking such, if society—the Government of the people did not make it possible. It is ridiculous for the capitalists to claim the right to strangle and
coop bank account as well impoverish the very people who make the ownership and
gjensidige bank as well value of capital possible. Such a claim is not to be justified under any pretense. I am determined to show that the people could be absolutely independent of the capitalists if they would make use of their own social advantages, and
coop bank account as well that capital would then
and be wholly employed on terms of usefulness, instead of forming the basis for all sorts of extortion, as
coop bank account is now the case. We can so reconstruct society that it will be self-perpetuating instead of as
compass bank san antonio now, self-exhaustive.
Everyone should realize that it is not possible for us to secure absolute justice in all practical dealings, and
coop bank account as well that there will be more or
dairy state bank and less inequality under any condition that man can establish. But that fact does not justify our support of practices that, by their natural application, make a few men immensely wealthy, create many parasites, and
coop bank account as well make industrial slaves of the masses. Our present system does all of that by its very nature. By that I mean that the law as
commonwealth bank internet banking it now stands and
coop bank account as well is interpreted by the courts and
hdfc bank personal loan as well legislatures, forces that condition upon us and
coop bank account as well the manner in which commerce and
cinema south bank as well speculation go on forces the people into unfavorable conditions even more rapidly than if the letter of the law were followed.