The Working Man's Political Economy; Founded Upon the Principle of Immutable Justice and the Inalienable Rights of Man Designed for the Promotor of National Reform - Softcover

Reseña del editor

This historic book may have numerous typos, missing text or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1847. Not illustrated. Excerpt: ... CHAPTER XIV. PERMANENT FUNDED DEBTS. We have been so long under the dominion of error-- have become so familiar with it, and look upon it with such complacency, that the simple announcement of the truth startles us almost with affright. But the time has now arrived when it must be told; suffering humanity imperiously demands it. Let this be our apology. Some political wiseacres have told us, that public debts are public blessings; but they have never explained the subject, nor told us why, nor who were the receivers of the blessings, and at whose cost and suffering these blessings were paid; or, rather, who they are forcibly niched from. There is, perhaps, among all the schemes invented for the purlTOBejofenaljliiig the few to live~art~the expense ~ot the many~nohe beTteTncalculatetMntrw'ork this end than the establishment of permaTrentry funded debts; because, every body knovVs that interest, at six per cent., in less than seventeen years, will equal the capital invested. Mow, we should like to know by whatjule_of_rightj justice or equity, when the original sum~T5orroweJ has once been honestly paid, why it should be pard~agaiii, and'that, too, many times over, and by those whonever borrowed it, nor p.ver hart the, use nf it? How can a man owe anything to another previous to his own birth ? or, to another, from Wh7mT~Tie,,Jias never received anything? Producers of wealth, it is for us to look into this matter. The fact, that ifTmTjTohe dollar being invested permanently, and so continued long enough, would require all the money in the world to pay the interest, is proof that there is something fundamentally wrong in the principle. When we purchase a coat, a hat, or a pair of shoes, we pay for them but once; and if the seller should demand pay a second time, he wo...