Illustrations of political economy, Volume 9 (of 9)Martineau, Harriet
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Illustrations of political economy, Volume 9 (of 9)
Martineau, Harriet
Didactic fiction, English; Political fiction, English; Social problems -- Fiction
“O, make haste and tell these things to your rich men; and they will
plan how soon this monstrous charge may be got rid of.”
“There is a great deal to be done first, my dear. We have first to
convince them that this debt is not a very good thing.—As long as they
escape paying their due share of the interest, and are aware that the
liquidation must, in a considerable proportion, proceed from them, there
is no lack of reasons, convincing to their minds, why a large national
debt must be a great national blessing.”
“It attaches the people to the government, perhaps. Is that what they
say?”
“Yes; as if the people will not always be the most attached to the
government that most consults their prosperity. What can they think of a
government that——”
He stopped suddenly as Marie put her fingers on her lips, and appeared
to be listening. She ran to the door and threw it wide open,—in time to
hear a shuffling down the dark stair-case.
“I am sure there was somebody at the door,” said she, hesitating whether
to shut it again. Her father shrugged his shoulders as the cold air blew
in. Henry observed that if the people of the house wanted anything, they
would come again; and Marie therefore, after calling from the landing
and receiving no answer, returned to her seat as before; observing that
it was not the first time she had believed some person to have remained
outside the door.
Her husband was writing down to her father’s dictation about fallacies
in regard to the debt;—such fallacies as that the parchment securities
of the public creditor were an absolute creation of capital; whereas
they were only the representatives of values which were actually sunk
and lost;—that the annual transfer of the millions required for the
interest was so much added to the circulation; whereas this very sum
would, in the absence of the debt, have been circulating in a more
profitable manner;—that the public funds afforded a convenience for the
prompt investment of unemployed capital; whereas there would be no lack
of good investments for capital if industry were left free;—and,
finally, that the stocks are an admirable instrument for the
ascertainment of public opinion; whereas a very small amount of debt
would answer this purpose as well as the largest. Nobody would object to
retaining the 664,000_l._ of the revolutionary times for this simple
object.
Public-domain text, read in full here on John Shaqi.
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