Industry Accumulates only three per cent, per annum!

After supporting life, statistics show that, usually three per cent, is the highest annual increase of material wealth, and whatever interest capital receives above this sum tends to concentrate it to the prejudice of industry. Every one per cent, unjustly taken from labor, to add to capital, doubles the difference between them; that is, page break one per cent. goes to strengthen capital, and one per cent, to weaken production.

The enormous increase of money by additional percentage is rarely appreciated. One thousand dollars compounded for three hundred and sixty years, at one per cent., is $37,574, while at six per cent, it is $1,073,741,824. It is of historical record, that two hundred and fifty years ago the Dutch bought Manhattan Island of the Indians for $24. Had this small sum been compounded at seven per cent, per annum, it would now aggregate more than the present value of the city and county of New York. The whole wealth of the nation would be absorbed by the compounded accumulation of $100,000 at seven per cent, for three hundred and sixty years.

What patent of nobility does capital rightfully possess, that it should be allowed to concentrate its gains more rapidly than labor? Without labor can it build, sow, reap, mine, or take any part in the world's work? It is dead and valueless without labor, while labor performing all these offices, and vitalizing capital itself, is naturally its peer. Why then should lifeless capital, in few hands, hold millions in bondage!