A lecture by Victoria Claflin Woodhull ...: The review of a century; or, the fruit of five thousand yearsWoodhull, Victoria C. (Victoria Claflin)
History
A lecture by Victoria Claflin Woodhull ...: The review of a century; or, the fruit of five thousand years
Woodhull, Victoria C. (Victoria Claflin)
United States -- Economic conditions -- 1865-1918; United States -- Social conditions -- 1865-1918
The total products amount to but $5,000,000,000 annually. Out of this,
there is first to come the subsistence of the 44,000,000 population. On
an average it cannot be said that it costs less than $100 a year per
capita to support this mass. Some people spend more than that for cigars
in a single month, and others double for wines and other liquors, to say
nothing about establishments costing thousands upon thousands to
maintain; and yet there are so many who live upon less than $100 a year,
that the average cost of subsistence may be placed at that sum. This
would consume $4,400,000,000 of the $5,000,000,000 products, and leave
but $600,000,000 with which to pay the $1,300,000,000 interest. Hence it
is plainly to be seen that the productive interests of the country are
running into debt to the capitalists at the rate of $700,000,000 every
year; that their mortgages on the property of the country are increasing
yearly by that amount. This is a frightful showing, but it is a true
one; it is one that the labouring classes are beginning to understand;
it is one that you who are oppressing them should also understand, for,
by ignoring it, you are challenging swift destruction. The only question
is, how long can these things go on, with the wealth of the country
increasing at the rate of two and a half per cent. per annum; it is a
simple thing to calculate how long it will require for money, increasing
at the rate of 6, 8, 10, and even 15 and 20 per cent. per annum, to
consume the wealth.
THE ROOT OF THE TROUBLE.
Public-domain text, read in full here on John Shaqi.
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