“PROFESSORS OF FINANCE”

Nelson Evening Mail, Volume LXIV, 11 March 1930, Page 7

“PROFESSORS OF FINANCE”

(To the Editor)

Sir, —In last Friday night's issue one signing himself “Nor’ Wester” blow a terrific gale, sweeping tiie country right from Adam and Jive’s time lo the present dole and unemployment age in one mighty blast. Not being an ecclesiastical scholar, I. have never yet been able to fathom exactly tlie lesson the Adam and live story meant to convey to this sinful old world of ours. We have it from “Nor’ Wester” that work is the greatest blessing bestowed upon man, which he should love as much as his wife. One thing is perfectly certain: that man, especially the capitalist, has been endeavouring to dodge work ever since the time of Adam. The cheerful news that the capitalist has suddenly developed into the workers’ best friend is very refreshing. I would like to know just when lie was converted into a philanthropist. I should like to ndivse “Nor’ Wester” to read Upton Sinclair’s “The Jungle,” which deals with the Chicago Aleat Trust. If this work does not convince and depress your correspondent, such poems as “The Cry of the Children” and “The Song of the Shirt” might assist him to realise what a benefactor the capitalist has been, and still would he, if lie hud the power. I will advise your correspondent not to trot out Henry Ford for our inspection and place him on a pedestal and use him as a model as is usually done to prove what a humanitarian the capitalist really is; for if there is any reconnoitring round America to be done I might advise him there is a little hookentitled ““Honour or Dollars” that will be very handy. During the South African and the late Great War the capitalist has proved himself to he—well, there is no term in the English language to express him. Our learned friend draws rather a startling comparison when he considers there is an analogy between a- professoj- npd sicapitalist —the one being a professor of earning while the other is a professor of finance. Wonderful! 1 cannot see much resemblance between the genius who by years of hard study has earned the title of professor and imparts his knowledge for the benefit of mankind and the drone who inherits a fortune and lives on unearned increment (viz.) interest —something for nothing which our correspondent considers the worker has no right to expect. , How many thousands of families for generations have lived on this unearned increment and have never produced as much as a potato in their lives? Who earns this increase but the worker? It certainly does not create itself. For, after all there are only two issues whereby we live—land and labour. Aloney is not an essential of life, although necessary as a medium of exchange under civilized conditions to regulate the distribution of production. Aloney, if used, is a blessing; if abused is a” curse. It is not generally known that history can prove that at different times nations have abolished usury and prospered thereby. “Nor’Wester” advises us that a man who does not work is not capable of spending money wisely and that we cannot expect the capitalist to give his hard-earned money away for nothing. It must be frightfully hard work for the poor capitalist to-place a sum of money on fixed deposit at 5 per cent, and wait for it to double itself every fourteen years. Of course the more money he has the more interest he gets. Is this what our friend means by hard earned money? Is there any system in the world more unfair, cruel and absurd than usury? No sane person would suggest that doles should be paid to loafers while the masses are wallowing in luxury and going sport mad; hut the habit of doing as litle as you can for as much as you can get has been taught to the masses by the rich for hundreds of years. The disease has taken a fair hold of humanity and is not likely to be checked until the mighty clash comes which is inevitable. Of course Soviet Russia had to receive the usual condemnation. I wonder if our correspondent is aware, that, prior to the revolution under Czar rule, executions went on daily without trial; any man who dared to speak one word politically against the Czar was exiled to Siberia for life. Thousands of people were born in the prisons and had never known liberty during their lifetime. Read the “Resurrection” by Tolstoy. Is it any wonder that the’ poor down-trodden wretches have rebelled against such tyranny, the present revolution being the result of hundreds of years of oppression? The masses cannot be expected to clean up the dirty mess that has been manufactured for _ them for hundreds of years in five minutes. If half of what we hear of Russia be true it is to he deplored. Two wrongs do not make a right, but there are two sides to most questions, and it would be kinder if we reserved our judgment to a later date. “Nor-Wester” advising us that the capitalist is the “goose that lays the golden eggs” is a splendid joke. The fact is that the worker for too long has been the goose that has laid too°many golden eggs for Mr Fat. —1 am ’ CtC '’ ANTI-HUMBUG. Nelson, Bth March.