Capitalism; Imperialism; Saving and investment; Socialism
remuneration.--Has, then, this national opulence, whose material
progress strikes every eye, nevertheless tended to the advantage of the
poor? Not so. The people of England are destitute of comfort now, and of
security for the future. There are no longer yeomen, they have been
obliged to become day labourers. In the towns there are scarcely any
longer artisans, or independent heads of a small business, but only
manufacturers. The operative, to employ a word which the system has
created, does not know what it is to have a station; he only gains
wages, and as these wages cannot suffice for all seasons, he is almost
every year reduced to ask alms from the poor-rates.--This opulent nation
has found it more economical to sell all the gold and silver which she
possessed, to do without coin, and to depend entirely on a paper
circulation; she has thus voluntarily deprived herself of the most
valuable of all the advantages of coin: stability of value. The holders
of the notes of the provincial banks run the risk every day of being
ruined by frequent and, as it were, epidemic failures of the bankers;
and the whole state is exposed to a convulsion in the fortune of every
individual, if an invasion or a revolution should shake the credit of
the national bank. The English nation has found it more economical to
give up those modes of cultivation which require much hand-labour, and
she has dismissed half the cultivators who lived in the fields. She has
found it more economical to supersede workmen by steam-engines; she has
dismissed ... the operatives in towns, and weavers giving place to
power-looms, are now sinking under famine; she has found it more
economical to reduce all working people to the lowest possible wages on
which they can subsist, and these working people being no longer
anything but a rabble, have not feared plunging into still deeper misery
by the addition of an increasing family. She has found it more
economical to feed the Irish with potatoes, and clothe them in rags; and
now every packet brings legions of Irish, who, working for less than the
English, drive them from every employment. What is the fruit of this
immense accumulation of wealth? Have they had any other effect than to
make every class partake of care, privation and the danger of complete
ruin? Has not England, by forgetting men for things, sacrificed the end
to the means?'[150]
Public-domain text, read in full here on John Shaqi.
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