OUTCRY AGAINST WEALTH.

Press, Volume LVI, Issue 10263, 4 February 1899, Page 9

OUTCRY AGAINST WEALTH.

From "Is tub Lavish Expesdi'tcre op Wealth Justifiable?" hv Bb«sl_y Martin, Jos., ik tub klketk-stii cestl'rt.

Those who cry out against the accumulation of wealth, and try to excite 1 ill-feeling between "Labour and Capital," lose sight of the fact that "all capital been earned by labour, either manual or that which is higher— mental, as my able tutor in economics, Mr Purcell, used to impress upon mc. The fact that a degenerate coxcomb has plenty of money, whilst a clever, hardworking man has not, merely means that the former or his father or'grandfother has toiled and denied himself in order that he may leave his children well off, whilst the latter and his ancestors have, not had the same perseverance, self-denial, or perhaps brains. I should __c to emphasise the fact that mulcting the rich is taking from labour its most just and highly-prized due—namely, the right to provide for the, young! •.:..< Although wealth does.not develope the best qualities in a man, and therefore comparatively few rich mon have been truly great, still in all ages they have had an important place in society, which they have filled" quite as -well as any other class. Take literature for. an example: hartLy a single great writer of the middle ages could have : written unless' some rich noble had become his patron, to whom' he dedicated his works and'in return received a livelihood. Art is _another striking example, as only a rich man .iCan. afford to give up the interest on siiffi- . qient wealth to pay for the production of masterpieces. The millionaire is, and, as long as he is allowed to exist, always will be, a useful member of society; because he produces more wealth in comparison to the' . amount that he exhausts than any other .member of society. Take as an example a 'large manufactory: the labourer probably .would spend .fully nine-tenths of his eaiar ihgs,. whilst* the capitalist would probably riot spend .'more thant three-quarters; there 'fore the latter has ono_"uarter. of his income 'with which to employ during the next year more productive labour. Therefore the community is the better off by having him than the labourer by the difference between his percentage of savings out of his income to that of the labourer's. And the richer a man is, the greater is the proportion of his saving- to his income. Most rich men save more than half their income , whilst in the case of the enormous fortunes a much greater percentage is attained.