WEALTH AND TRADE

Grey River Argus, 30 April 1932, Page 6

WEALTH AND TRADE

(Stockton Correspondent). The only part of the so-called na tional “wealth” that actually enters into the collective possession of modern peoples is their national debt. Paradoxical, but true! The Bank of England began with lending its money to the Government at 8 per cent. At the same time (1694) it was empowered by Parliament to coin money out of the same capital, by lending it again to the public in the form of bank notes, and it was this credit-money, made by the bank itself, that eventually became the coin in which the Bank of England made its “loans” to the State. Over-taxation of the worker.

(as at the present time) is not an incident, but rather a principle. The great patriot of Holland, De Witt, has extolled it as the best system for making the wage labourer submissive, frugal, industrious and overburdened with labour. If money, according to Angier, comes into the world with a congenital blood-stain on one cheek, capital comes dripping from head to foot, from every pore, with blood and dirt. And the most fatuous of all the vain dreams in which the human race has ever indulged is that mere wealth can bring happiness. Every relationship’ in life is vitiated by this false theory upon which society rests. The unity of the working class is the thing that matters. It is worth while pondering over the question, why are the working class always the poorer class? The Empire Economic Unit Myth: Foodstuffs: From the Empire £lB7 million; from other countries £316: million. Raw materials: £7l million from the Empire, and from other countries £197 million. The whole world is bristling with tariffs, and yet never was there so much machinery lying idle and so many millions of workers or, the road. America has the most elaborate tariff system in the world, yet it has 10,000.000 unemployed! The capitalists are compelled to adopt tariffs in order to cut wages and fight foreign rivals, but that does not mean that foreign capitalists will be defeated or that employment will improve. We are rapidly approaching the pauperisation of the masses. Machinery is not only a competitor, it is the most powerful of weapons on the side of the autocracy of capital!