"Are these stuffy-looking papers what you used to call wealth?" said
Edith, with evident disappointment.
"Not the papers in themselves," I said, "but what they represented."
"And what was that?" she asked.
"The ownership of land, houses, mills, ships, railroads, and all manner
of other things," I replied, and went on as best I could to explain to
her mother and herself about rents, profits, interest, dividends, etc.
But it was evident, from the blank expression of their countenances, that
I was not making much headway.
Presently the doctor looked up from the papers which he was devouring
with the zeal of an antiquarian, and chuckled.
"I am afraid, Julian, you are on the wrong tack. You see economic science
in your day was a science of things; in our day it is a science of human
beings. We have nothing at all answering to your rent, interest, profits,
or other financial devices, and the terms expressing them have no meaning
now except to students. If you wish Edith and her mother to understand
you, you must translate these money terms into terms of men and women and
children, and the plain facts of their relations as affected by your
system. Shall you consider it impertinent if I try to make the matter a
little clearer to them?"
"I shall be much obliged to you," I said; "and perhaps you will at the
same time make it clearer to me."
"I think," said the doctor, "that we shall all understand the nature and
value of these documents much better if, instead of speaking of them as
titles of ownership in farms, factories, mines, railroads, etc., we state
plainly that they were evidences that their possessors were the masters
of various groups of men, women, and children in different parts of the
country. Of course, as Julian says, the documents nominally state his
title to things only, and say nothing about men and women. But it is the
men and women who went with the lands, the machines, and various other
things, and were bound to them by their bodily necessities, which gave
all the value to the possession of the things.
Public-domain text, read in full here on John Shaqi.
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