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