the legitimacy of usury, and the honesty of profit,—all of which contradict the economic law, and make exchange impossible? A contractor pays one hundred thousand francs for raw material, fifty thousand francs in wages, and then expects to receive a product of two hundred thousand francs,—that is, expects to make a profit on the material and on the labor of his employees; but if the laborers and the purveyor of the material cannot, with their combined wages, repurchase that which they have produced for the contractor, how can they live? I will develop my question. Here details become necessary.
If the workingman receives for his labor an average of three francs per day, his employer (in order to gain any thing beyond his own salary, if only interest on his capital) must sell the day’s labor of his employee, in the form of merchandise, for more than three francs. The workingman cannot, then, repurchase that which he has produced for his master. It is thus with all trades whatsoever. The tailor, the hatter, the cabinet-maker, the blacksmith, the tanner, the mason, the jeweller, the printer, the clerk, &c., even to the farmer and wine-grower, cannot repurchase their products; since, producing for a master who in one form or another makes a profit, they are obliged to pay more for their own labor than they get for it.
In France, twenty millions of laborers, engaged in all the branches of science, art, and industry, produce every thing which is useful to man. Their annual wages amount, it is estimated, to twenty thousand millions; but, in consequence of the right of property, and the multifarious forms of increase, premiums, tithes, interests, fines, profits, farm-rents, house-rents, revenues, emoluments of every nature and description, their products are estimated by the proprietors and employers
