892 PROCEEDINGS OF SECTION G. 
such works of construction are not reproductive, or when money 
is borrowed to meet a deficiency in public revenue, the actual 
payment by the country, having regard to its true wealth, is not 
represented by the current rate of interest paid on the loan. 
If the work of construction is not reproductive, every £100 of 
product sent away for interest, which would have been otherwise 
employed, represents two incomes of the like amount, which 
would have been the result of the employment. The cost to the 
real wealth of the country is double the rate of interest paid. 
Where the work is reproductive, yielding interest at the same rate 
as that which is paid, such interest represents the circulating 
capital employed in the procurement each year of the product 
which is sent away. 
Tt cannot be doubted that the more a country is self-contained, 
and the larger the number of industries which can be carried on, 
without detriment to others by the means employed, the wider 
the markets, the larger in number the avenues of employment, 
and the greater must be the wealth in the aggregate earnings 
which constitute prosperity. The culture of its people will also 
be greater in the variety of occupation, adapted to the ability 
and intelligence of all capacities, and stimulating the exercise of 
inventive faculties and artistic skill. The real wealth of a country 
is not indicated by the value of its production, if the whole pro- 
ceeds are not retained ; and, in considering its wealth, the figures 
of foreign indebtedness must always be set against the figures of 
production. Neither is the wealth of a country indicated by the 
value of imports and exports representing its external trade. 
If my deductions are correct, except as to the share to be 
received by wage earners in particular industries, there is in a 
country which is self-contained a natural distribution of the 
proceeds of production against all classes. They are diffused 
equally among those engaged in the work of primary industry, 
and among all other groups of workers, each class, and the indi- 
viduals in each class, receiving portion of the proceeds according 
to the demands for their employment. The interest of any one 
producing class is the interest of all. The strike which paralyses 
industry for a time, and impairs a market, is the concern of all. 
As I contended in my previous paper, agencies must ultimately be 
evolved, by which the shares of the product received by the 
employer, and the mechanic or labourer, engaged in the work of 
production, the subject of frequent contests now, may be satis- 
factorily adjusted, and the evils of monopolies or trusts prevented. 
These are the vital objects to which the thoughts of those con- 
cerned in promoting progress should be especially directed. The 
importance of the aid which the organisation of government can 
5 
give in promoting the development of industry and the increase 
of production in new lands, whose resources are greatly unde- 
