ts。
The primary cause of commercial and industrial stagnations is； then； interest on capital；that interest which the ancients with one accord branded with the name of usury； whenever it was paid for the use of money； but which they did not dare to condemn in the forms of house…rent； farm…rent； or profit： as if the nature of the thing lent could ever warrant a charge for the lending； that is； robbery。
In proportion to the increase received by the capitalist will be the frequency and intensity of commercial crises；the first being given； we always can determine the two others； and vice versa。 Do you wish to know the regulator of a society？ Ascertain the amount of active capital； that is； the capital bearing interest； and the legal rate of this interest。 The course of events will be a series of overturns； whose number and violence will be proportional to the activity of capital。
In 1839； the number of failures in Paris alone was one thousand and sixty…four。 This proportion was kept up in the early months of 1840； and； as I write these lines； the crisis is not yet ended。 It is said； further； that the number of houses which have wound up their business is greater than the number of declared failures。 By this flood； we may judge of the waterspout's power of suction。
The decimation of society is now imperceptible and permanent； now periodical and violent； it depends upon the course which property takes。 In a country where the property is pretty evenly distributed； and where little business is done；the rights and claims of each being balanced by those of others；the power of invasion is destroyed。 Thereit may be truly saidproperty does not exist； since the right of increase is scarcely exercised at all。 The condition of the laborersas regards security of lifeis almost the same as if absolute equality prevailed among them。 They are deprived of all the advantages of full and free association； but their existence is not endangered in the least。 With the exception of a few isolated victims of the right of propertyof this misfortune whose primary cause no one perceivesthe society appears to rest calmly in the bosom of this sort of equality。 But have a care； it is balanced on the edge of a sword： at the slightest shock； it will fall and meet with death！
Ordinarily； the whirlpool of property localizes itself。 On the one hand； farm…rent stops at a certain point； on the other； in consequence of competition and over…production； the price of manufactured goods does not rise；so that the condition of the peasant varies but little； and depends mainly on the seasons。 The devouring action of property bears； then； principally upon business。 We commonly say COMMERCIAL CRISES； not AGRICULTURAL CRISES； because； while the farmer is eaten up slowly by the right of increase； the manufacturer is swallowed at a single mouthful。 This leads to the cessation of business； the destruction of fortunes； and the inactivity of the working people； who die one after another on the highways； and in the hospitals； prisons； and galleys。
To sum up this proposition：
Property sells products to the laborer for more than it pays him for them； therefore it is impossible。
APPENDIX TO THE FIFTH PROPOSITION。
I。 Certain reformers； and even the most of the publicistswho； though belonging to no particular school； busy themselves in devising means for the amelioration of the lot of the poorer and more numerous classlay much stress now…a…days on a better organization of labor。 The disciples of Fourier； especially； never stop shouting； 〃ON TO THE PHALANX！〃 declaiming in the same breath against the foolishness and absurdity of other sects。
They consist of half…a…dozen incomparable geniuses who have discovered that FIVE AND FOUR MAKE NINE； TAKE TWO AWAY； AND NINE REMAIN；and who weep over the blindness of France； who refuses to believe in this astonishing arithmetic。＇1＇
＇1＇ Fourier； having to multiply a whole number by a fraction； never failed； they say； to obtain a product much greater than the multiplicand。 He affirmed that under his system of harmony the mercury would solidify when the temperature was above zero。 He might as well have said that the Harmonians would make burning ice。 I once asked an intelligent phalansterian what he thought of such physics。 〃I do not know；〃 he answered； 〃but I believe。〃 And yet the same man disbelieved in the doctrine of the Real Presence。
In fact； the Fourierists proclaim themselves； on the one hand； defenders of property； of the right of increase； which they have thus formulated： TO EACH ACCORDING TO HIS CAPITAL； HIS LABOR； AND HIS SKILL。 On the other hand； they wish the workingman to come into the enjoyment of all the wealth of society； that is； abridging the expression；into the undivided enjoyment of his own product。 Is not this like saying to the workingman； 〃Labor； you shall have three francs per day； you shall live on fifty…five sous； you shall give the rest to the proprietor； and thus you will consume three francs〃？
If the above speech is not an exact epitome of Charles Fourier's system； I will subscribe to the whole phalansterian folly with a pen dipped in my own blood。
Of what use is it to reform industry and agriculture；of what use； indeed； to labor at all；if property is maintained； and labor can never meet its expenses？ Without the abolition of property； the organization of labor is neither more nor less than a delusion。 If production should be quadrupled；a thing which does not seem to me at all impossible；it would be labor lost： if the additional product was not consumed； it would be of no value； and the proprietor would decline to receive it as interest； if it was consumed； all the disadvantages of property would reappear。 It must be confessed that the theory of passional attraction is gravely at fault in this particular； and that Fourier； when he tried to harmonize the PASSION for property；a bad passion； whatever he may say to the contrary； blocked his own chariot…wheels。
The absurdity of the phalansterian economy is so gross； that many people suspect Fourier； in spite of all the homage paid by him to proprietors； of having been a secret enemy of property。 This opinion might be supported by plausible arguments； still it is not mine。 Charlatanism was too important a part for such a man to play； and sincerity too insignificant a one。 I would rather think Fourier ignorant （which is generally admitted） than disingenuous。 As for his disciples； before they can formulate any opinion of their own； they must declare once for all； unequivocally and with no mental reservation； whether they mean to maintain property or not； and what they mean by their famous motto；〃To each according to his capital； his labor； and his skill。〃
II。 But； some half…converted proprietor will observe； 〃Would it not be possible； by suppressing the bank； incomes； farm…rent； house…rent； usury of all kinds； and finally property itself； to proportion products to capacities？ That was St。 Simon's idea； it was also Fourier's； it is the desire of the human conscience； and no decent person would dare maintain that a minister of state should live no better than a peasant。〃
O Midas！ your ears are long！ What！ will you never understand that disparity of wages and the right of increase are one and the same？ Certainly； St。 Simon； Fourier； and their respective flocks committed a serious blunder in attempting to unite； the one； inequality and communism； the other； inequality and property： but you； a man of figures； a man of economy；you； who know by heart your LOGARITHMIC tables；how can you make so stupid a mistake？
Does not political economy itself teach you that the product of a man； whatever be his individual capacity； is never worth more than his labor； and that a man's labor is worth no more than his consumption？ You remind me of that great constitution…framer； poor Pinheiro…Ferreira； the Sieyes of the nineteenth century； who； dividing the citizens of a nation into twelve classes；or； if you prefer； into twelve grades；assigned to some a salary of one hundred thousand francs each； to others； eighty thousand； then twenty…five thousand； fifteen thousand； ten thousand； &c。； down to one thousand five hundred； and one thousand francs； the minimum allowance of a citizen。 Pinheiro loved distinctions； and could no more conceive of a State without great dignitaries than of an army without drum…majors； and as he also loved； or thought he loved； liberty； equality； and fraternity； he combined the good and the evil of our old society in an eclectic philosophy which he embodied in a constitution。 Excellent Pinheiro！ Liberty even to passive submission； fraternity even to identity of language； equality even in the jury…box and at the guillotine；such was his ideal republic。 Unappreciated genius； of whom the present century was unworthy； but whom the future will avenge！
Listen； proprietor。 Inequality of talent exists in fact； in right it is not admissible； it goes for nothing； it is not thought of。 One Newton in a century is equal to thirty millions of men； the psychologist admires the rarity of so fine a genius； the legislator sees only the rarity of the function。 Now； rarity of function bestows no privilege upo