What is Property [87]
of the Most High."
PROPERTY IS THE RIGHT OF INCREASE. To us this axiom shall be like the name of the beast in the Apocalypse,--a name in which is hidden the complete explanation of the whole mystery of this beast. It was known that he who should solve the mystery of this name would obtain a knowledge of the whole prophecy, and would succeed in mastering the beast. Well! by the most careful interpretation of our axiom we shall kill the sphinx of property.
Starting from this eminently characteristic fact--the RIGHT OF INCREASE--we shall pursue the old serpent through his coils; we shall count the murderous entwinings of this frightful taenia, whose head, with its thousand suckers, is always hidden from the sword of its most violent enemies, though abandoning to them immense fragments of its body. It requires something more than courage to subdue this monster. It was written that it should not die until a proletaire, armed with a magic wand, had fought with it.
COROLLARIES.--1. THE AMOUNT OF INCREASE IS PROPORTIONAL TO THE THING INCREASED. Whatever be the rate of interest,--whether it rise to three, five, or ten per cent., or fall to one-half, one- fourth, one-tenth,--it does not matter; the law of increase remains the same. The law is as follows:--
All capital--the cash value of which can be estimated--may be considered as a term in an arithmetical series which progresses in the ratio of one hundred, and the revenue yielded by this capital as the corresponding term of another arithmetical series which progresses in a ratio equal to the rate of interest. Thus, a capital of five hundred francs being the fifth term of the arithmetical progression whose ratio is one hundred, its revenue at three per cent. will be indicated by the fifth term of the arithmetical progression whose ratio is three:--
100 . 200 . 300 . 400 . 500. 3 . 6 . 9 . 12 . 15.
An acquaintance with this sort of LOGARITHMS--tables of which, calculated to a very high degree, are possessed by proprietors-- will give us the key to the most puzzling problems, and cause us to experience a series of surprises.
By this LOGARITHMIC theory of the right of increase, a piece of property, together with its income, may be defined as A NUMBER WHOSE LOGARITHM IS EQUAL TO THE SUM OF ITS UNITS DIVIDED BY ONE HUNDRED, AND MULTIPLIED BY THE RATE OF INTEREST. For instance; a house valued at one hundred thousand francs, and leased at five per cent., yields a revenue of five thousand francs, according to the formula 100,000 x 5 / 100 = five thousand. Vice versa, a piece of land which yields, at two and a half per cent., a revenue of three thousand francs is worth one hundred and twenty thousand francs, according to this other formula; 3,000 x 100 / 2 1/2 = one hundred and twenty thousand.
In the first case, the ratio of the progression which marks the increase of interest is five; in the second, it is two and a half.
OBSERVATION.--The forms of increase known as farm-rent, income, and interest are paid annually; rent is paid by the week, the month, or the year; profits and gains are paid at the time of exchange. Thus, the amount of increase is proportional both to the thing increased, and the time during which it increases; in other words, usury grows like a cancer--_foenus serpit sicut cancer_.
2. THE INCREASE PAID TO THE PROPRIETOR BY THE OCCUPANT IS A DEAD LOSS TO THE LATTER. For if the proprietor owed, in exchange for the increase which he receives, some thing more than the permission which he grants, his right of property would not be perfect--he would not possess _jure optimo, jure perfecto;_ that is, he would not be in reality a proprietor. Then, all which passes from the hands of the occupant into those of the proprietor in the name of increase, and as the price of the permission to occupy, is a permanent gain for the latter, and a dead loss and annihilation for the former; to whom none of it will return, save in the forms of gift, alms, wages paid for his services, or the price of merchandise which he has
PROPERTY IS THE RIGHT OF INCREASE. To us this axiom shall be like the name of the beast in the Apocalypse,--a name in which is hidden the complete explanation of the whole mystery of this beast. It was known that he who should solve the mystery of this name would obtain a knowledge of the whole prophecy, and would succeed in mastering the beast. Well! by the most careful interpretation of our axiom we shall kill the sphinx of property.
Starting from this eminently characteristic fact--the RIGHT OF INCREASE--we shall pursue the old serpent through his coils; we shall count the murderous entwinings of this frightful taenia, whose head, with its thousand suckers, is always hidden from the sword of its most violent enemies, though abandoning to them immense fragments of its body. It requires something more than courage to subdue this monster. It was written that it should not die until a proletaire, armed with a magic wand, had fought with it.
COROLLARIES.--1. THE AMOUNT OF INCREASE IS PROPORTIONAL TO THE THING INCREASED. Whatever be the rate of interest,--whether it rise to three, five, or ten per cent., or fall to one-half, one- fourth, one-tenth,--it does not matter; the law of increase remains the same. The law is as follows:--
All capital--the cash value of which can be estimated--may be considered as a term in an arithmetical series which progresses in the ratio of one hundred, and the revenue yielded by this capital as the corresponding term of another arithmetical series which progresses in a ratio equal to the rate of interest. Thus, a capital of five hundred francs being the fifth term of the arithmetical progression whose ratio is one hundred, its revenue at three per cent. will be indicated by the fifth term of the arithmetical progression whose ratio is three:--
100 . 200 . 300 . 400 . 500. 3 . 6 . 9 . 12 . 15.
An acquaintance with this sort of LOGARITHMS--tables of which, calculated to a very high degree, are possessed by proprietors-- will give us the key to the most puzzling problems, and cause us to experience a series of surprises.
By this LOGARITHMIC theory of the right of increase, a piece of property, together with its income, may be defined as A NUMBER WHOSE LOGARITHM IS EQUAL TO THE SUM OF ITS UNITS DIVIDED BY ONE HUNDRED, AND MULTIPLIED BY THE RATE OF INTEREST. For instance; a house valued at one hundred thousand francs, and leased at five per cent., yields a revenue of five thousand francs, according to the formula 100,000 x 5 / 100 = five thousand. Vice versa, a piece of land which yields, at two and a half per cent., a revenue of three thousand francs is worth one hundred and twenty thousand francs, according to this other formula; 3,000 x 100 / 2 1/2 = one hundred and twenty thousand.
In the first case, the ratio of the progression which marks the increase of interest is five; in the second, it is two and a half.
OBSERVATION.--The forms of increase known as farm-rent, income, and interest are paid annually; rent is paid by the week, the month, or the year; profits and gains are paid at the time of exchange. Thus, the amount of increase is proportional both to the thing increased, and the time during which it increases; in other words, usury grows like a cancer--_foenus serpit sicut cancer_.
2. THE INCREASE PAID TO THE PROPRIETOR BY THE OCCUPANT IS A DEAD LOSS TO THE LATTER. For if the proprietor owed, in exchange for the increase which he receives, some thing more than the permission which he grants, his right of property would not be perfect--he would not possess _jure optimo, jure perfecto;_ that is, he would not be in reality a proprietor. Then, all which passes from the hands of the occupant into those of the proprietor in the name of increase, and as the price of the permission to occupy, is a permanent gain for the latter, and a dead loss and annihilation for the former; to whom none of it will return, save in the forms of gift, alms, wages paid for his services, or the price of merchandise which he has