'You see, it is exactly the same with interest as with the undertaker's gains and with ground-rent: the guaranteed right of association saves the worker from the necessity of handing over a part of the proceeds of his production to a third person under any plea whatever. Interest disappears of itself, just like profit and rent, for the sole but sufficient reason that the freely associated worker is his own capitalist, as well as his own undertaker and landlord. Or, if one will put it so, _interest, profit, and rent remain, but they are not separated from wages, with which they combine to form a single and indivisible return for labour_.' And with this, good-night for the present. ---- CHAPTER XIX Eden Vale: Aug. 11, ---- What we learnt from the director of the Freeland Central Bank occupied the thoughts of my father and myself for a long time. As this high functionary, who was a frequent visitor at the house of the Neys, dined with our hosts the next day, the table-talk ran mainly upon the Freeland institutions. My father began by asking whether the circumstance that the rest of the world, from which Freeland did not--and, in fact, in this matter could not--isolate itself, paid interest for loans, did not induce Freeland savers to seek foreign investments for their money; or whether at least some artificial means had not to be adopted to prevent this. 'There is nothing, absolutely nothing,' answered Mr. Clark, 'to prevent Freeland savers from investing their capital abroad; in fact, at present--I have quite recently been referring to the statistics upon this point regularly published by our central bank--some two and a-half milliards (2,500,000,000£) are invested partly in the large foreign banks, partly in European and American bonds. For example, a good half of your Italian national debt is in the hands of Freelanders. But what are such figures in comparison with the gigantic amounts of our savings and capital? We cannot prevent, and have no reason whatever to prevent, many Freelanders from being induced by foreign interest to accumulate more capital than is needed here at home on the one hand, and more than they consider necessary to insure themselves against old age on the other. For what is required for these two purposes cannot go abroad.' 'And is not this last-mentioned fact a disadvantage to the Freeland saver?' I asked.