But, the non-Socialist will object, these working men could not borrow L100,000, as they would have no security. That is quite true; but the Corporation of Manchester or Birmingham could borrow the money to start such a work, and could borrow it at 3 per cent. And by making their own mouse-traps, or gas, or bread, instead of buying them from a private maker or a company, and paying the said company or maker L10,000 a year for ever and ever amen, they would, in less than twenty years, become possessors of their own works and machinery, and be in a position to save L10,000 a year on the cost of mouse-traps or gas or bread. This is what the Socialist means by saying that the capitalist is unnecessary, and is paid too much for the use of his capital. Against the capitalist or landlord worker or manager the same complaint holds good; the large profits taken by these men as payment for management or direction are out of all proportion to the value of their work. These profits, or salaries, called by economists "the wages of ability," are in excess of any salary that would be paid to a farmer, engineer, or director of any factory either by Government, by the County Council, by a Municipality, or by any capitalist or company engaging such a person at a fixed rate for services. That is to say, the capitalist or landlord director is paid very much above the market value of the "wages of ability." These facts generally escape the notice of the worker. As a rule his attention is confined to his own wages, and he thinks himself well off or ill off as his wages are what he considers high or low. But there are two sides to the question of wages. It is not only the amount of wages received that matters, but it is also the amount of commodities the wages will buy. The worker has to consider how much he spends as well as how much he gets; and if he can got as much for 15s. as he used to get for L1, he is as much better off as he would be were his wages raised 25 per cent. Now on every article the workman uses there is one profit or a dozen; one charge or many charges placed upon his food, clothing, house, fuel, light, travelling, and everything he requires by the landlord, the capitalist, or the shareholders. Take the case of the coal bought by a poor London clerk at 30s. a ton. It pays a royalty to the royalty owner, it pays a profit to the mine owner, it pays a profit to the coal merchant, it pays a profit to the railway company, and these profits are over and above the cost in wages and wear and tear of machinery. Yet this same London clerk is very likely a Tory, who says many bitter things against _Socialism_, but never thinks of resenting the heavy taxes levied on his small income by landlords, railway companies, water companies, building companies, ship companies, and all the other companies and private firms who live upon him.