THE Thames Star. SATURDAY, SEPT. 27, 1924. WHAT CAPITALISM HAS DONE.

Thames Star, Volume LVII, Issue 16211, 27 September 1924, Page 4

THE Thames Star.

SATURDAY, SEPT. 27, 1924. WHAT CAPITALISM HAS DONE.

"With malice towards none; with charity for all; with firmness in the right, as God gives us to see the right."— Lincoln.

In vendin'? Socialist books and papers one gathers the impression that what is termed capitalism is charged with nearly all the evils mankind is subject to. War, poverty, disease, crime, immorality, and other ills are all charged to capitalism. Under the denunciation that has taken place for such a long time we may wonder why this “wicked capitalism” has not gone out of existanee. What, after all, is capitalism? It is simply the order of society under which men accumulate capital and use it for the production of more wealth and capital. It is not a system, though often spoken of as such, but just the practice human beings have adopted because they have never found anything better. The savage who held over some flesh, fish or roots for the morrow instead of > consuming all at once, took the first step in creating capital. liis act of saving provided for future activity in acquiring or producing. Capital is only commodity reserved for the production of more commodity. From' this it is apparent that man could not progress without capital. In consequence of this fact of nature those

who turned their attention to the supplying of man’s material wants saw the necessity of conserving capita 1 Capita] became of recognised value, just as land and labour is, and where it was used or lent a return over and above its replacement was required, otherwise there would be no advantage in owning it. This profit, the socialists argue, is what gives the owners of capital power over the rest of humanity and results they add in all the ills above-named. As against this view it is held by many economists that the capitalist owners profit is a power only insofar as it is used for future production, and that it. therefore 'roes in general to the addml supplying of human wants, thus

creating progress and human wellbeing. A rational view of this subject is that excessive profit will starve the people’s immediate needs and wasteful consumption by a few have the same effect. This the socialists regard as the normal state attaching to capitalism whilst others maintain that it is abuse due to the selfishness inherent in many natures whether the .persons be capitalists or workmen employed for wages. Against the tale of all evils that capitalism is charged with there is the other side of the shield showing the great progress of communities and States* in which the practice termed capitalism has obtained. Thus “The Hound Table” of September, 1920“ If we look indeed at what is within the reach of the average man to-day and two centuries ago, the change is little short of miraculous. Then he was isolated in a village or a small town. He could not move about unless he was prepared to walk, for stage coaches were only for the few. His knowledge of the world was probably nil unless lie had learnt to read and write, and after that could borrow the few books which existed from richer friends. His food was monotonous —the product of his own countryside. He lived, in fact, compared with his fellows to-day, in a physical and mental cage. To-day nothing is easier than for the average man to move from one end to another of his own country, and if he has even small savings, to the ends of the earth as well. The literature of all ages is his for a few pence, and newspapers enlarge his horizon by giving him daily news from every corner of the globe. His diet is rich and various, drawn from every latitude, from every continent and from every sea.” There is a picture of the progress made under capitalism, and it is undoubtedly true. The average workman may consider himself poor, but many such are better provided for than are many of the so-called wealthy nobles of past times. It is nowhere denied that capitalism has its defects, but with all of these it is beyond question that the rule of private property and enterprise is the most wonderful method of wealth production and the multiplication and cheapening of commodities that has ever been deivsed. Like all human institutions, capitalism is subject to evolutionary law and the standards of to-day are very much higher than those of a hundred years ago, not merely economically, but from the standpoint of sentiment and ethical conduct. The extent in which the motive of service is the guiding principle of business in our time is but too seldom recognised. Taking a wide view we see jjiat under capitalism the world has been transformed so dipt the average person is supplied with commodities that only the wealthiest could procure, and indeed the ordinary workmen of to-day has the advantage of services' which even the wealthy of past times never had, because they were non-existent. M hat .capitalism has done is to multiply and cheapen supplies as to make numerous things of such common use as even the Communist dreamers of olden days never looked for under their formula of “ownership in common.” Still, with all that has been accomplished there is much remains to be done. With increase of provisions for life is life itself multiplied. Population grows and there are ever more to provide for. Business of the capitalist order recognises this and instead of meeting the position with mere verbiage or dream plans it bends to the task of reconstruction, reform, improvement and advancement. Capitalism, despite all criticism, is essentially constructive. We see the mighty things it has done. What great things, associated with science, it is now doing, and we can have confidence that it will still accomplish wonders in the future. Capitalism has, and will, become more social in character, and its destruction would be a calamity .tor the whole human race.