1847. 



GENESEE FARMER. 



S9 



borrower is servant to the lender ;" therefore it is 

 the part of wisdom to keep out of debt, and pay 

 no interest on money. We war not against 

 Capital ; and would be the last to depreciate its 

 value. All we desire is that more of it shall re- 

 main permanently in the hard hands that give it 

 existence, that all may have enough and to spare. 



Mr. Editor : — From the tenor of your editorials in the 

 Genesee Farmer, the inference is unavoidable, that you en- 

 tertain opinions, and inculcate principles, on the subject of 

 Political Economy, perhaps somewhat peculiar, or at vari- 

 ance with the teachings of our most esteemed and standard 

 authors. The importance of correct views of this science 

 cannot be overrated — connected as it is with the economi- 

 cal, political, and practical relations of life — influencing, as 

 it does, the prosperity and peace of society. Perhaps on no 

 subject of equal importance is there so general lack of knowl- 

 edge, OS upon this ; yet even upon this subject there is gen- 

 erally much common sense, and particularly, much practi- 

 cal experience. Hence there is no danger, upon a thorough 

 disciission and exposition of the subject, but that the inter- 

 ests of a J classes of society, will be found to harmonize and 

 identify. 



It will be found that capital will yield nothing, unless 

 united with labor — that labor will yield nothing unless uni- 

 ted with capital. The greater the ratio of capital to labor, 

 the higher will be the price of labor. The greater the ratio 

 of labor to capital, the lower will be the rate of wages, and 

 the greater the profits of the capitalist. Hence, the labor- 

 ing classes are really more interested in increasing the cap- 

 itsu of a country than the wealthy classes ; as whatever 

 tends to destroy, or diminish, the annual accumulation of 

 capital, tends directly to lower the rate of wages. Hence 

 She inconsistency of leading one class of community to re- 

 pine at the prosperity of another class. 



It is by a judicious connection of skill and industry with 

 pre-accumulated capital, that simple laborers are enabled 

 lo advance to the condition of laboring upon their own cap- 

 ital ; and eventually of becoming, in their turn, lenders and 

 capitalists. Do they by this process injure community, or 

 cease to constitute "Humanity?" or become agents to pro- 

 mote " a contrivance of the Devil, by which he enables one 

 man to retake from another all that he gives, and something 

 more ?" Certain it is, that by this process, all national and 

 individual wealth is accumulated. And this is the happy 

 condition of the great mass of the American people : they 

 are laborers and capitalists. 



Of course lenders will sometimes be avaricious and op- 

 preeeive, and borrowers fraudulent and profligate. The 

 '®De is usually not more benevolent than the other. Each 

 enters upon the transaction for his own advantage. And 

 it is just as honorable to lend as to borrow. 



To the harmonious and beneficent connection of capital 

 and labor there will occur exceptions, as when governments 

 90»8ume unproJuctively large masses of capital in war : or 

 by injufllicious policy, suddenly direct industry from old into 

 new channels ; whereby masses of men are thrown out of 

 employment. To provide temporary labcr and pay for these, 

 may well engage the attention of the philanthropist and 

 statesman. 



But why should I dwell upon the subject — you must be 

 femiiinr with it. You are doubtless aware, that the study 

 of Political Economy has engaged the best minds of Europe 

 and America — thatit is an established science — that its truths 

 are demonstrable, upon the basis of observation and experi- 

 ence of cause and effect — that there is little or no conflict of 

 opinion among writers of established reputation, in regard 

 to its principles — and that it would be an arduous underta- 

 king to impeach their conclusions before an intelligent tri- 

 bunal. You, as a teacher in Israel, must understand their 

 views ; and if you disagree with them, must be able to ren- 

 der a reason. If, in addition to, or conflict with, these, you 

 have views which would tend to ameliorate the condition, 

 or promote the happiness of mankind — if, as you say you 

 have, " truths of vital moment to society, which ought to 

 be proclaimed on every house-top," let us have them, sys- 

 tematically, definitely, boldly. They cannot injure, but 

 must benefit yourself and* community. I ask you to give 

 them definitely, because I may ask the privilege of a friend- 

 ly and respectful discussion in the Farmer. And to me, at 

 least, there is an obscurity in the phrasology, and in regard 

 to the raeauing and tendency of yoiu teachings. 



Does the terra " Humanity," of such frequent occurrence 

 in your text, mean labor ? and if so, why not use the word? 

 How happens it that money, (or rather the value, of which 

 money is the representative — to wit. capital, ) which yott 

 elsewhere represent as so productive, becomes to the bor« 

 rower "dead matter, which can not add one particle to it* 

 own weight or one cent to its own value ; and a consuming 

 ulcer upon the body and soul of humanity" ? Is it more 

 iniquitous, or consuming, to pay interest for money, (capi- 

 tal,) than to pay rent for lands, buildings, materials, or ira^ 

 plements in manufacture ? Are they not alike capital, and 

 identical ? Can you suggest any disposition or use of cap- 

 ital, more beneficial to society, upon the whole, than to let 

 it increase and diftuse, in connection with industry, not' 

 withstanding any temporary ineqmality of accumulation? 



What action of the " controlling majority will secure to 

 every man an equal chance to labor for himself, and have 

 all that his honest toil can call into existence," otherwise 

 than in accordance with the profits of labor, as resulting 

 from the laws of supply and demand ? What amount of 

 coercive or arbitrary interferance, with the accumulation, 

 (capital,) would it require to destroy or banish it, — to para-" 

 lyze production — introduce anarchy, and reduce a prosper- 

 ous people to the condition of savage hordes, or to welcome 

 such order as prevails in Warsaw ? 



These are questions which appear to me to arise by natu- 

 aal and legitimate inference ; from the spirit and seeming 

 tendency of certain remarks in your January number. I 

 have designed to treat these remarks with candor and mod- 

 eration, as I may have misapprehended their import. If so, 

 it will please me to be instructed. I wish to ascertain truth; 

 and desire that the Farmer may be the vehicle of just views 

 and truthful principles. And that there may be no disguise 

 on my part, I subscribe. Yours respectfully, 



Wheatland, Jan. 13, 1847. J. McVeaK, 



Mr. Editor :— Pardon this freedom, for be assured thai 

 it originates in the purest motives, and most sincere good 

 wishes. I was exceedingly sorry to see the spirit of agra- 

 rianism so strangely avowed in the January number of the 

 Genesee Farmer, by the uncalled for attack on capital, and 

 the unreasonable abuse of the capitalist. And what is 

 capital that it makes men such demons ? It is the fruits of 

 industry and economy, directed by skill. Wealth is the re- 

 ward of toil ; the knave deserves it when he tills the soil ,. 

 and no one has a right to deprive him of it, unless he give* 

 what is considered an equivalent in exchange. Destroy 

 the right of property, and the value of capital, and the ac- 

 tivity, enterprize, and industry of the capitalist, must 

 cease, and civilization will be at an end — for the active en- 

 ergies of social fllan never can be called into action without 

 them. If capital was not rewarded, we could not have the 

 active enterprize of the capitalist, nor could we have any 

 commerce ; no railroads nor canals, no labor-saving ma- 

 chinery, no colleges with their thousands as endowments, 

 no sciences, no literary men — nor any of the valuable im- 

 provements of civilization, for individual labor never caa 

 be collectively united so as to produce them. 



The Fourierites resolved to correct the evils in society, 

 and renovate the world, by performing the necessary oper- 

 ations of social life without the tax of capital, or the ag- 

 grandizement of the capitalist, and what has been the re- 

 sult ? Imbecility, starvation, and ruin are the fruits of th© 

 experiment. 



In what respect or in what way does the employment of 

 capital ever injure the poor? The value of labor, like ev- 

 ery other thing, depends upon the demand and supply, and 

 common sense must tell every one, that the greater the 

 amount of capital there is employed, that there must 1^ 

 more demand for labor, and the better will be the compen- 

 sation ; and it is equally as self evident that if capital is not 

 rewarded it cinnot be employed. What would be the ef- 

 fect on society if the productive capital, even in this coun- 

 ty, should bo withdrawn ? The hundreds which now re- 

 ceive the comforts of life from their labor, would be throwa 

 out of employ, and deprived of the means of subsistence ; 

 and the productive industry of that capital lost to commu- 

 nity, without benefitting any one, or producing any valua- 

 ble result in society. , 



Under the head of " Yankee Enterprize," published m 

 the present (January) number of the Genesee Farmer, it is 

 stated that a man paid the wives and children of N. Hamp- 

 shire for knitting ten thousand pairs of stockings. I think 

 that it will be very difficult to imagine what harm the pay 

 for knitting those stockings would do those wives and chil- 



