uman brotherhood。 _Hic est sapientia_。 Let us pass from the hypothetical state of pure Nature into civilization。
The proprietor of the soil； who produces； I will suppose with the economists； by lending his instrument； receives at the foundation of a society so many bushels of grain for each acre of arable land。 As long as labor is weak； and the variety of its products small； the proprietor is powerful in comparison with the laborers； he has ten times； one hundred times； the portion of an honest man。 But let labor； by multiplying its inventions； multiply its enjoyments and wants； and the proprietor； if he wishes to enjoy the new products； will be obliged to reduce his income every day； and since the first products tend rather to depreciate than to rise in value；in consequence of the continual addition of the new ones； which may be regarded as supplements of the first ones；it follows that the idle proprietor grows poor as fast as public prosperity increases。 〃Incomes〃 （I like to quote you； sir； because it is impossible to give too good an authority for these elementary principles of economy； and because I cannot express them better myself）； 〃incomes；〃 you have said； 〃tend to disappear as capital increases。 He who possesses to…day an income of twenty thousand pounds is not nearly as rich as he who possessed the same amount fifty years ago。 The time is coming when all property will be a burden to the idle； and will necessarily pass into the hands of the able and industrious。＇1＇ 。 。 。〃
＇1＇ Lecture of December 22。
In order to live as a proprietor； or to consume without producing； it is necessary； then； to live upon the labor of another； in other words； it is necessary to kill the laborer。 It is upon this principle that proprietors of those varieties of capital which are of primary necessity increase their farm…rents as fast as industry develops； much more careful of their privileges in that respect； than those economists who； in order to strengthen property； advocate a reduction of interest。 But the crime is unavailing： labor and production increase； soon the proprietor will be forced to labor； and then property is lost。
The proprietor is a man who； having absolute control of an instrument of production； claims the right to enjoy the product of the instrument without using it himself。 To this end he lends it； and we have just seen that from this loan the laborer derives a power of exchange； which sooner or later will destroy the right of increase。 In the first place； the proprietor is obliged to allow the laborer a portion of the product； for without it the laborer could not live。 Soon the latter； through the development of his industry； finds a means of regaining the greater portion of that which he gives to the proprietor； so that at last； the objects of enjoyment increasing continually； while the income of the idler remains the same； the proprietor； having exhausted his resources； begins to think of going to work himself。 Then the victory of the producer is certain。 Labor commences to tip the balance towards its own side； and commerce leads to equilibrium。
Man's instinct cannot err； as； in liberty； exchange of functions leads inevitably to equality among men； so commerceor exchange of products； which is identical with exchange of functionsis a new cause of equality。 As long as the proprietor does not labor； however small his income； he enjoys a privilege； the laborer's welfare may be equal to his； but equality of conditions does not exist。 But as soon as the proprietor becomes a producer；since he can exchange his special product only with his tenant or his _commandite_；sooner or later this tenant； this _exploited_ man； if violence is not done him； will make a profit out of the proprietor； and will oblige him to restorein the exchange of their respective productsthe interest on his capital。 So that； balancing one injustice by another； the contracting parties will be equal。 Labor and exchange； when liberty prevails； lead； then； to equality of fortunes； mutuality of services neutralizes privilege。 That is why despots in all ages and countries have assumed control of commerce； they wished to prevent the labor of their subjects from becoming an obstacle to the rapacity of tyrants。
Up to this point； all takes place in the natural order； there is no premeditation； no artifice。 The whole proceeding is governed by the laws of necessity alone。 Proprietors and laborers act only in obedience to their wants。 Thus； the exercise of the right of increase； the art of robbing the producer； depends during this first period of civilization upon physical violence； murder； and war。
But at this point a gigantic and complicated conspiracy is hatched against the capitalists。 The weapon of the EXPLOITERS is met by the EXPLOITED with the instrument of commerce；a marvellous invention； denounced at its origin by the moralists who favored property； but inspired without doubt by the genius of labor； by the Minerva of the proletaires。
The principal cause of the evil lay in the accumulation and immobility of capital of all sorts；an immobility which prevented labor； enslaved and subalternized by haughty idleness； from ever acquiring it。 The necessity was felt of dividing and mobilizing wealth； of rendering it portable； of making it pass from the hands of the possessor into those of the worker。 Labor invented MONEY。 Afterwards； this invention was revived and developed by the BILL OF EXCHANGE and the BANK。 For all these things are substantially the same； and proceed from the same mind。 The first man who conceived the idea of representing a value by a shell； a precious stone； or a certain weight of metal； was the real inventor of the Bank。 What is a piece of money； in fact？ It is a bill of exchange written upon solid and durable material； and carrying with it its own redemption。 By this means； oppressed equality was enabled to laugh at the efforts of the proprietors； and the balance of justice was adjusted for the first time in the tradesman's shop。 The trap was cunningly set； and accomplished its purpose so thoroughly that in idle hands money became only dissolving wealth； a false symbol； a shadow of riches。 An excellent economist and profound philosopher was that miser who took as his motto； 〃WHEN A GUINEA IS EXCHANGED； IT EVAPORATES。〃 So it may be said； 〃When real estate is converted into money； it is lost。〃 This explains the constant fact of history； that the noblesthe unproductive proprietors of the soilhave every where been dispossessed by industrial and commercial plebeians。 Such was especially the case in the formation of the Italian republics； born； during the middle ages； of the impoverishment of the seigniors。 I will not pursue the interesting considerations which this matter suggests； I could only repeat the testimony of historians； and present economical demonstrations in an altered form。
The greatest enemy of the landed and industrial aristocracy to… day； the incessant promoter of equality of fortunes； is the BANKER。 Through him immense plains are divided； mountains change their positions； forests are grown upon the public squares； one hemisphere produces for another； and every corner of the globe has its usufructuaries。 By means of the Bank new wealth is continually created； the use of which （soon becoming indispensable to selfishness） wrests the dormant capital from the hands of the jealous proprietor。 The banker is at once the most potent creator of wealth； and the main distributor of the products of art and Nature。 And yet； by the strangest antinomy； this same banker is the most relentless collector of profits； increase； and usury ever inspired by the demon of property。 The importance of the services which he renders leads us to endure； though not without complaint； the taxes which he imposes。 Nevertheless； since nothing can avoid its providential mission； since nothing which exists can escape the end for which it exists the banker （the modern Croesus） must some day become the restorer of equality。 And following in your footsteps； sir； I have already given the reason； namely； that profit decreases as capital multiplies； since an increase of capitalcalling for more laborers； without whom it remains unproductivealways causes an increase of wages。 Whence it follows that the Bank； to…day the suction…pump of wealth； is destined to become the steward of the human race。
The phrase EQUALITY OF FORTUNES chafes people； as if it referred to a condition of the other world； unknown here below。 There are some persons； radicals as well as moderates； whom the very mention of this idea fills with indignation。 Let； then； these silly aristocrats abolish mercantile societies and insurance companies； which are founded by prudence for mutual assistance。 For all these social facts； so spontaneous and free from all levelling intentions； are the legitimate fruits of the instinct of equality。
When the legislator makes a law； properly speaking he does not MAKE it；he does not CREATE it： he DESCRIBES it。 In legislating upon the moral； civil； and political relations of citizens； he does not express an arbitrary notion： he states the general idea；the higher principle which governs the matter which he is