About one-half of the National Debt is held by thrifty wage-earners, as all the money deposited in the savings banks, and most of the savings deposited with friendly societies, &c., is invested in Consols, and as a very large part of the assets of the industrial and other insurance societies consists of Government Stocks. Property being theft, and thrift being akin to it, the thrifty workman whose savings are invested in Consols has apparently no right to complain of being robbed of his savings by the Socialists. Some Socialist agitators have the audacity to tell the thrifty worker that he will not suffer, but benefit, by the confiscation of his savings. "Opponents try to scare this man against Socialism by the fear of losing his interest. Granting for a moment he would do so, would he not gain by the general abolition of interest, &c., which would double his wage in common with that of all workers?"[447]--The worker is to be indemnified for his positive and certain loss in property through the confiscation of his savings, or at the least of the interest paid on them, by a problematical rise in general wages which would benefit the unthrifty quite as much as the thrifty. But if the promised doubling of wages should not take place, what will happen? The Socialist agitators will explain that they are sorry to have made a mistake, whilst the thriftless are squandering the property of the thrifty. According to the Socialist teachings, the capitalist is a perfectly useless being in the national household. "Does he himself want to work: to do something useful? Far from it. His money works for him; his money makes money, as the saying is."[448] Most capitalists--and I think the large majority of wage-earners are capitalists to some extent--are engaged in useful productive work of hand or brain. However, the capitalist of the Socialist imagination, the wealthy man who lives without any work, who studies the money market and Stock Exchange quotations, and who is occupied solely in investing and reinvesting his money to the best advantage, is an extremely useful member of society. It is of the utmost consequence to all workers, and to the whole nation, that the national capital should grow, that mines, railways, ships, machinery, houses, &c., should multiply and be constantly improved. Now the thrifty, not the wasteful, preserve and increase the national capital. Wise and cautious capitalists in enriching themselves will enrich the nation. Careless ones will lose their money and impoverish the nation. The wealth of France has, to a very large extent, been created by cautious and far-seeing _rentiers_, and thus France has become the banker among nations.