,MEMOIR #a1 ,*APT] #d 
,?AT ,PROP]TY IS ,IMPOSSIBLE 

#ahdahd 

,PEOPLE 3 

,AU?OR 3 ,PI]RE-,JOSEPH ,PR\DHON 

,TEXT 3 

,*APT] ,I,V4 ,?AT ,PROP]TY ,IS ,IMPOSSIBLE4 

,! LA/ RESORT ( PROPRIETORS1 -- ! OV]:ELM+ >GUM5T :OSE 9V9CIBLE POT5CY REASSURES !M1 -- IS ?AT1 9 !IR OP9ION1 EQUALITY ( CONDITIONS IS IMPOSSIBLE4 0,EQUALITY ( CONDITIONS IS A *IM]A10 !Y CRY ) A KN[+ AIR2 0DI/RIBUTE WEAL? EQUALLY TO-DAY -- TO-MORR[ ?IS EQUALITY WILL HAVE VANI%$40 

,TO ?IS HACKNEY$ OBJECTION1 :I* !Y REPEAT EV]Y:]E ) ! MO/ M>VEL\S ASSURANCE1 !Y NEV] FAIL TO ADD ! FOLL[+ COMM5T1 AS A SORT ( ,GLORY BE TO ! ,FA!R3 0,IF ALL M5 W]E EQUAL1 NOBODY W\LD WORK40 ,?IS AN!M IS SUNG ) V>IATIONS4 

0,IF ALL W]E MA/]S1 NOBODY W\LD OBEY40 

0,IF NOBODY W]E RI*1 :O W\LD EMPLOY ! POOR80 

,&1 0,IF NOBODY W]E POOR1 :O W\LD LABOR = ! RI*80 

,BUT LET US HAVE DONE ) 9VECTIVE -- WE HAVE BETT] >GUM5TS AT \R COMM&4 

,IF ,I %[ ?AT PROP]TY ITSELF IS IMPOSSIBLE -- ?AT IT IS PROP]TY :I* IS A CONTRADICTION1 A *IM]A1 A UTOPIA2 & IF ,I %[ IT NO LONG] BY METAPHYSICS & JURISPRUD5CE1 BUT BY FIGURES1 EQUATIONS1 & CALCULATIONS1 -- IMAG9E ! FRI<T ( ! A/\ND$ PROPRIETOR6 ,& Y\1 READ]2 :AT DO Y\ ?9K ( ! RETORT8 

,NUMB]S GOV]N ! WORLD -- MUNDUM REGUNT NUM]I4 ,?IS PROV]B APPLIES AS APTLY TO ! MORAL & POLITICAL1 AS TO ! SID]EAL & MOLECUL>1 WORLD4 ,! ELEM5TS ( JU/ICE >E ID5TICAL ) ?OSE ( ALGEBRA2 LEGISLATION & GOV]NM5T >E SIMPLY ! >TS ( CLASSIFY+ & BALANC+ P[]S2 ALL JURISPRUD5CE FALLS )9 ! RULES ( >I?METIC4 ,?IS *APT] & ! NEXT WILL S]VE TO LAY ! F\NDATIONS ( ?IS EXTRAORD9>Y DOCTR9E4 ,!N WILL BE UNFOLD$ TO ! READ]'S VISION AN IMM5SE & NOVEL C>E]2 !N %ALL WE COMM5CE TO SEE 9 NUM]ICAL RELATIONS ! SYN!TIC UNITY ( PHILOSOPHY & ! SCI5CES2 &1 FILL$ ) ADMIRATION & 5?USIASM = ?IS PR(\ND & MAJE/IC SIMPLICITY ( ,NATURE1 WE %ALL %\T ) ! APO/LE3 0,YES1 ! ,ET]NAL HAS MADE ALL ?+S BY NUMB]1 WEI<T1 & MEASURE60 ,WE %ALL UND]/& NOT ONLY ?AT EQUALITY ( CONDITIONS IS POSSIBLE1 BUT ?AT ALL ELSE IS IMPOSSIBLE2 ?AT ?IS SEEM+ IMPOSSIBILITY :I* WE *>GE UPON IT >ISES FROM ! FACT ?AT WE ALWAYS ?9K ( IT 9 CONNECTION EI!R ) ! PROPRIET>Y OR ! COMMUNI/IC REGIME1 -- POLITICAL SY/EMS EQUALLY IRRECONCILABLE ) HUMAN NATURE4 ,WE %ALL SEE F9ALLY ?AT EQUALITY IS CON/ANTLY BE+ REALIZ$ )\T \R KN[L$GE1 EV5 AT ! V]Y MOM5T :5 WE >E PRON\NC+ IT 9CAPABLE ( REALIZATION2 ?AT ! TIME DRAWS NE> :51 )\T ANY EF=T OR EV5 WI% ( \RS1 WE %ALL HAVE IT UNIV]SALLY E/ABLI%$2 ?AT ) IT1 9 IT1 & BY IT1 ! NATURAL & TRUE POLITICAL ORD] MU/ MAKE ITSELF MANIFE/4 

,IT HAS BE5 SAID1 9 SPEAK+ ( ! BL9DNESS & OB/9ACY ( ! PASSIONS1 ?AT1 IF MAN HAD ANY ?+ TO GA9 BY D5Y+ ! TRU?S ( >I?METIC1 HE W\LD F9D SOME MEANS ( UNSETTL+ !IR C]TA9TY3 H]E IS AN OPPORTUNITY TO TRY ?IS CURI\S EXP]IM5T4 ,I ATTACK PROP]TY1 NO LONG] ) ITS [N MAXIMS1 BUT ) >I?METIC4 ,LET ! PROPRIETORS PREP>E TO V]IFY MY FIGURES2 =1 IF UN=TUNATELY = !M ! FIGURES PROVE ACCURATE1 ! PROPRIETORS >E LO/4 

,9 PROV+ ! IMPOSSIBILITY ( PROP]TY1 ,I COMPLETE ! PRO( ( ITS 9JU/ICE4 ,9 FACT1 -- 

,?AT :I* IS JU/ MU/ BE USEFUL2 

,?AT :I* IS USEFUL MU/ BE TRUE2 

,?AT :I* IS TRUE MU/ BE POSSIBLE2 

,!RE=E1 EV]Y ?+ :I* IS IMPOSSIBLE IS UNTRUE1 USELESS1 UNJU/4 ,!N1 -- A PRIORI1 -- WE MAY JUDGE ( ! JU/ICE ( ANY ?+ BY ITS POSSIBILITY2 SO ?AT IF ! ?+ W]E ABSOLUTELY IMPOSSIBLE1 IT W\LD BE ABSOLUTELY UNJU/4 

,PROP]TY IS PHYSICALLY & MA!MATICALLY IMPOSSIBLE4 

,DEMON/RATION4 

,AXIOM4 -- ,PROP]TY IS ! ,RI<T ( ,9CREASE CLAIM$ BY ! ,PROPRIETOR OV] ANY ?+ :I* HE HAS /AMP$ AS HIS [N4 

,?IS PROPOSITION IS PURELY AN AXIOM1 BECAUSE1 -- 

#a4 ,IT IS NOT A DEF9ITION1 S9CE IT DOES NOT EXPRESS ALL ?AT IS 9CLUD$ 9 ! RI<T ( PROP]TY -- ! RI<T ( SALE1 ( EX*ANGE1 ( GIFT2 ! RI<T TO TRANS=M1 TO ALT]1 TO CONSUME1 TO DE/ROY1 TO USE & ABUSE1 @&C4 ,ALL !SE RI<TS >E SO MANY DIFF]5T P[]S ( PROP]TY1 :I* WE MAY CONSID] SEP>ATELY2 BUT :I* WE DISREG>D H]E1 ?AT WE MAY DEVOTE ALL \R ATT5TION TO ?IS S+LE ONE1 -- ! RI<T ( 9CREASE4 

#b4 ,IT IS UNIV]SALLY ADMITT$4 ,NO ONE CAN D5Y IT )\T D5Y+ ! FACTS1 )\T BE+ 9/ANTLY BELI$ BY UNIV]SAL CU/OM4 

#c4 ,IT IS SELF-EVID5T1 S9CE PROP]TY IS ALWAYS ACCOMPANI$ 7EI!R ACTUALLY OR POT5TIALLY7 BY ! FACT :I* ?IS AXIOM EXPRESSES2 & ?R\< ?IS FACT1 MA9LY1 PROP]TY MANIFE/S1 E/ABLI%ES1 & ASS]TS ITSELF4 

#d4 ,F9ALLY1 ITS NEGATION 9VOLVES A CONTRADICTION4 ,! RI<T ( 9CREASE IS REALLY AN 9H]5T RI<T1 SO ESS5TIAL A P>T ( PROP]TY1 ?AT1 9 ITS ABS5CE1 PROP]TY IS NULL & VOID4 

,OBS]VATIONS4 -- ,9CREASE RECEIVES DIFF]5T NAMES ACCORD+ TO ! ?+ BY :I* IT IS YIELD$3 IF BY L&1 F>M-R5T2 IF BY H\SES & FURNITURE1 R5T2 IF BY LIFE-9VE/M5TS1 REV5UE2 IF BY MONEY1 9T]E/2 IF BY EX*ANGE1 ADVANTAGE GA91 PR(IT 7?REE ?+S :I* MU/ NOT BE CONF\ND$ ) ! WAGES OR LEGITIMATE PRICE ( LABOR74 

,9CREASE -- A SORT ( ROYAL PR]OGATIVE1 ( TANGIBLE & CONSUMABLE HOMAGE -- IS DUE TO ! PROPRIETOR ON ACC\NT ( HIS NOM9AL & METAPHYSICAL OCCUPANCY4 ,HIS SEAL IS SET UPON ! ?+2 ?AT IS 5\< TO PREV5T ANY ONE ELSE FROM OCCUPY+ IT )\T HIS P]MISSION4 

,?IS P]MISSION TO USE HIS ?+S ! PROPRIETOR MAY1 IF HE *OOSES1 FREELY GRANT4 ,COMMONLY HE SELLS IT4 ,?IS SALE IS REALLY A /ELLIONATE & AN EXTORTION2 BUT BY ! LEGAL FICTION ( ! RI<T ( PROP]TY1 ?IS SAME SALE1 SEV]ELY PUNI%$1 WE KN[ NOT :Y1 9 O!R CASES1 IS A S\RCE ( PR(IT & VALUE TO ! PROPRIETOR4 

,! AM\NT DEM&$ BY ! PROPRIETOR1 9 PAYM5T = ?IS P]MISSION1 IS EXPRESS$ 9 MONET>Y T]MS BY ! DIVID5D :I* ! SUPPOS$ PRODUCT YIELDS 9 NATURE4 ,SO ?AT1 BY ! RI<T ( 9CREASE1 ! PROPRIETOR REAPS & DOES NOT PL[2 GLEANS & DOES NOT TILL2 CONSUMES & DOES NOT PRODUCE2 5JOYS & DOES NOT LABOR4 ,V]Y DIFF]5T FROM ! IDOLS ( ! ,PSALMI/ >E ! GODS ( PROP]TY3 ! =M] HAD H&S & FELT NOT2 ! LATT]1 ON ! CONTR>Y1 MANUS HAB5T ET PALPABUNT4 

,! RI<T ( 9CREASE IS CONF]R$ 9 A V]Y MY/]I\S & SUP]NATURAL MANN]4 ,! 9AUGURATION ( A PROPRIETOR IS ACCOMPANI$ BY ! AWFUL C]EMONIES ( AN ANCI5T 9ITIATION4 ,FIR/1 COMES ! CONSECRATION ( ! >TICLE2 A CONSECRATION :I* MAKES KN[N TO ALL ?AT !Y MU/ (F] UP A SUITABLE SACRIFICE TO ! PROPRIETOR1 :5EV] !Y WI%1 BY HIS P]MISSION OBTA9$ & SIGN$1 TO USE HIS >TICLE4 

,SECOND1 COMES ! ANA!MA1 :I* PROHIBITS -- EXCEPT ON ! CONDITIONS A=ESAID -- ALL P]SONS FROM T\*+ ! >TICLE1 EV5 9 ! PROPRIETOR'S ABS5CE2 & PRON\NCES EV]Y VIOLATOR ( PROP]TY SACRILEGI\S1 9FAM\S1 AM5ABLE TO ! SECUL> P[]1 & DES]V+ ( BE+ H&$ OV] TO IT4 

,F9ALLY1 ! D$ICATION1 :I* 5ABLES ! PROPRIETOR OR PATRON SA9T -- ! GOD *OS5 TO WAT* OV] ! >TICLE -- TO 9HABIT IT M5TALLY1 LIKE A DIV9ITY 9 HIS SANCTU>Y4 ,BY MEANS ( ?IS D$ICATION1 ! SUB/ANCE ( ! >TICLE -- SO TO SPEAK -- BECOMES CONV]T$ 9TO ! P]SON ( ! PROPRIETOR1 :O IS REG>D$ AS EV] PRES5T 9 ITS =M4 

,?IS IS EXACTLY ! DOCTR9E ( ! WRIT]S ON JURISPRUD5CE4 0,PROP]TY10 SAYS ,T\LLI]1 0IS A MORAL QUALITY 9H]5T 9 A ?+2 AN ACTUAL BOND :I* FA/5S IT TO ! PROPRIETOR1 & :I* CANNOT BE BROK5 SAVE BY HIS ACT40 ,LOCKE HUMBLY D\BT$ :E!R ,GOD C\LD MAKE MATT] 9TELLIG5T4 ,T\LLI] ASS]TS ?AT ! PROPRIETOR R5D]S IT MORAL4 ,H[ MU* DOES HE LACK ( BE+ A ,GOD8 ,!SE >E BY NO MEANS EXAGG]ATIONS4 

,PROP]TY IS ! RI<T ( 9CREASE2 ?AT IS1 ! P[] TO PRODUCE )\T LABOR4 ,N[1 TO PRODUCE )\T LABOR IS TO MAKE SOME?+ FROM NO?+2 9 %ORT1 TO CREATE4 ,SURELY IT IS NO MORE DIFFICULT TO DO ?IS ?AN TO MORALIZE MATT]4 ,! JURI/S >E RI<T1 !N1 9 APPLY+ TO PROPRIETORS ?IS PASSAGE FROM ! ,SCRIPTURES1 -- ,EGO DIXI3 ,DII E/IS ET FILII ,EXCELSI OMNES1 -- 0,I HAVE SAID1 ,YE >E GODS2 & ALL ( Y\ >E *ILDR5 ( ! ,MO/ ,HI<40 

,PROP]TY IS ! RI<T ( 9CREASE4 ,TO US ?IS AXIOM %ALL BE LIKE ! NAME ( ! BEA/ 9 ! ,APOCALYPSE1 -- A NAME 9 :I* IS HIDD5 ! COMPLETE EXPLANATION ( ! :OLE MY/]Y ( ?IS BEA/4 ,IT WAS KN[N ?AT HE :O %\LD SOLVE ! MY/]Y ( ?IS NAME W\LD OBTA9 A KN[L$GE ( ! :OLE PROPHECY1 & W\LD SUCCE$ 9 MA/]+ ! BEA/4 ,WELL6 BY ! MO/ C>EFUL 9T]PRETATION ( \R AXIOM WE %ALL KILL ! SPH9X ( PROP]TY4 ,/>T+ FROM ?IS EM95TLY *>ACT]I/IC FACT -- ! RI<T ( 9CREASE -- WE %ALL PURSUE ! OLD S]P5T ?R\< HIS COILS2 WE %ALL C\NT ! MURD]\S 5TW9+S ( ?IS FRI<TFUL TA5IA1 :OSE HEAD1 ) ITS ?\S& SUCK]S1 IS ALWAYS HIDD5 FROM ! SWORD ( ITS MO/ VIOL5T 5EMIES1 ?\< AB&ON+ TO !M IMM5SE FRAGM5TS ( ITS BODY4 ,IT REQUIRES SOME?+ MORE ?AN C\RAGE TO SUBDUE ?IS MON/]4 ,IT WAS WRITT5 ?AT IT %\LD NOT DIE UNTIL A PROLETAIRE1 >M$ ) A MAGIC W&1 HAD F\<T ) IT4 

,COROLL>IES 

#a4 ,! AM\NT ( 9CREASE IS PROPORTIONAL TO ! ?+ 9CREAS$4 ,:ATEV] BE ! RATE ( 9T]E/1 -- :E!R IT RISE TO ?REE1 FIVE1 OR T5 P]C5T1 OR FALL TO ONE-HALF1 ONE-F\R?1 ONE-T5?1 -- IT DOES NOT MATT]2 ! LAW ( 9CREASE REMA9S ! SAME4 ,! LAW IS AS FOLL[S3 -- 

,ALL CAPITAL -- ! CA% VALUE ( :I* CAN BE E/IMAT$ -- MAY BE CONSID]$ AS A T]M 9 AN >I?METICAL S]IES :I* PROGRESSES 9 ! RATIO ( ONE HUNDR$1 & ! REV5UE YIELD$ BY ?IS CAPITAL AS ! CORRESPOND+ T]M ( ANO!R >I?METICAL S]IES :I* PROGRESSES 9 A RATIO EQUAL TO ! RATE ( 9T]E/4 ,?US1 A CAPITAL ( FIVE HUNDR$ FRANCS BE+ ! FIF? T]M ( ! >I?METICAL PROGRESSION :OSE RATIO IS ONE HUNDR$1 ITS REV5UE AT ?REE P]C5T WILL BE 9DICAT$ BY ! FIF? T]M ( ! >I?METICAL PROGRESSION :OSE RATIO IS ?REE3 -- #a 4 #b 4 #c 4 #d 4 #e4 #c 4 #f 4 #i 4 #ab 4 #a#e4 

,AN ACQUA9TANCE ) ?IS SORT ( LOG>I?MS -- TABLES ( :I*1 CALCULAT$ TO A V]Y HI< DEGREE1 >E POSSESS$ BY PROPRIETORS -- WILL GIVE US ! KEY TO ! MO/ PUZZL+ PROBLEMS1 & CAUSE US TO EXP]I5CE A S]IES ( SURPRISES4 

,BY ?IS LOG>I?MIC !ORY ( ! RI<T ( 9CREASE1 A PIECE ( PROP]TY1 TOGE!R ) ITS 9COME1 MAY BE DEF9$ AS A NUMB] :OSE LOG>I?M IS EQUAL TO ! SUM ( ITS UNITS DIVID$ BY ONE HUNDR$1 & MULTIPLI$ BY ! RATE ( 9T]E/4 ,= 9/ANCE2 A H\SE VALU$ AT ONE HUNDR$ ?\S& FRANCS1 & LEAS$ AT FIVE P]C5T1 YIELDS A REV5UE ( FIVE ?\S& FRANCS1 ACCORD+ TO ! =MULA #a1 X #e _/ #a "7 FIVE ?\S&4 VISE V]SA1 A PIECE ( L& :I* YIELDS1 AT TWO & A HALF P]C5T1 A REV5UE ( ?REE ?\S& FRANCS IS WOR? ONE HUNDR$ & TW5TY ?\S& FRANCS1 ACCORD+ TO ?IS O!R =MULA2 #c1 X #a _/ #b #a_/#b "7 ONE HUNDR$ & TW5TY ?\S&4 

,9 ! FIR/ CASE1 ! RATIO ( ! PROGRESSION :I* M>KS ! 9CREASE ( 9T]E/ IS FIVE2 9 ! SECOND1 IT IS TWO & A HALF4 

,OBS]VATION4 -- ,! =MS ( 9CREASE KN[N AS F>M-R5T1 9COME1 & 9T]E/ >E PAID ANNUALLY2 R5T IS PAID BY ! WEEK1 ! MON?1 OR ! YE>2 PR(ITS & GA9S >E PAID AT ! TIME ( EX*ANGE4 ,?US1 ! AM\NT ( 9CREASE IS PROPORTIONAL BO? TO ! ?+ 9CREAS$1 & ! TIME DUR+ :I* IT 9CREASES2 9 O!R WORDS1 USURY GR[S LIKE A CANC] -- FO5US S]PIT SICUT CANC]4 

#b4 ,! 9CREASE PAID TO ! PROPRIETOR BY ! OCCUPANT IS A DEAD LOSS TO ! LATT]4 ,= IF ! PROPRIETOR [$1 9 EX*ANGE = ! 9CREASE :I* HE RECEIVES1 SOME ?+ MORE ?AN ! P]MISSION :I* HE GRANTS1 HIS RI<T ( PROP]TY W\LD NOT BE P]FECT -- HE W\LD NOT POSSESS JURE OPTIMO1 JURE P]FECTO2 ?AT IS1 HE W\LD NOT BE 9 REALITY A PROPRIETOR4 ,!N1 ALL :I* PASSES FROM ! H&S ( ! OCCUPANT 9TO ?OSE ( ! PROPRIETOR 9 ! NAME ( 9CREASE1 & AS ! PRICE ( ! P]MISSION TO OCCUPY1 IS A P]MAN5T GA9 = ! LATT]1 & A DEAD LOSS & ANNIHILATION = ! =M]2 TO :OM NONE ( IT WILL RETURN1 SAVE 9 ! =MS ( GIFT1 ALMS1 WAGES PAID = HIS S]VICES1 OR ! PRICE ( M]*&ISE :I* HE HAS DELIV]$4 ,9 A WORD1 9CREASE P]I%ES SO F> AS ! BORR[] IS CONC]N$2 OR TO USE ! MORE 5]GETIC ,LAT9 PHRASE1 -- RES P]IT SOLV5TI4 

#c4 ,! RI<T ( 9CREASE OPPRESSES ! PROPRIETOR AS WELL AS ! /RANG]4 ,! MA/] ( A ?+1 AS ITS PROPRIETOR1 LEVIES A TAX = ! USE ( HIS PROP]TY UPON HIMSELF AS ITS POSSESSOR1 EQUAL TO ?AT :I* HE W\LD RECEIVE FROM A ?IRD P>TY2 SO ?AT CAPITAL BE>S 9T]E/ 9 ! H&S ( ! CAPITALI/1 AS WELL AS 9 ?OSE ( ! BORR[] & ! COMM&ITE4 ,IF1 9DE$1 RA!R ?AN ACCEPT A R5T ( FIVE HUNDR$ FRANCS = MY AP>TM5T1 ,I PREF] TO OCCUPY & 5JOY IT1 IT IS CLE> ?AT ,I %ALL BECOME MY [N DEBTOR = A R5T EQUAL TO ?AT :I* ,I D5Y MYSELF4 ,?IS PR9CIPLE IS UNIV]SALLY PRACTIC$ 9 BUS9ESS1 & IS REG>D$ AS AN AXIOM BY ! ECONOMI/S4 ,MANUFACTUR]S1 ALSO1 :O HAVE ! ADVANTAGE ( BE+ PROPRIETORS ( !IR FLOAT+ CAPITAL1 AL?\< !Y [E NO 9T]E/ TO ANY ONE1 9 CALCULAT+ !IR PR(ITS SUBTRACT FROM !M1 NOT ONLY !IR RUNN+ EXP5SES & ! WAGES ( !IR EMPLOYES1 BUT ALSO ! 9T]E/ ON !IR CAPITAL4 ,= ! SAME REASON1 MONEY-L5D]S RETA9 9 !IR [N POSSESSION AS LITTLE MONEY AS POSSIBLE2 =1 S9CE ALL CAPITAL NECESS>ILY BE>S 9T]E/1 IF ?IS 9T]E/ IS SUPPLI$ BY NO ONE1 IT COMES \T ( ! CAPITAL1 :I* IS TO ?AT EXT5T DIM9I%$4 ,?US1 BY ! RI<T ( 9CREASE1 CAPITAL EATS ITSELF UP4 ,?IS IS1 D\BTLESS1 ! IDEA ?AT ,PAP9IUS 9T5D$ TO CONVEY 9 ! PHRASE1 AS ELEGANT AS IT IS =CIBLE -- ,FO5US MORDET SOLIDAM4 ,I BEG P>DON = US+ ,LAT9 SO FREQU5TLY 9 DISCUSS+ ?IS SUBJECT2 IT IS AN HOMAGE :I* ,I PAY TO ! MO/ USURI\S NATION ?AT EV] EXI/$4 

,FIR/ ,PROPOSITION4 ,PROP]TY IS IMPOSSIBLE1 BECAUSE IT DEM&S ,SOME?+ = ,NO?+4 

,! DISCUSSION ( ?IS PROPOSITION COV]S ! SAME GR\ND AS ?AT ( ! ORIG9 ( F>M-R5T1 :I* IS SO MU* DEBAT$ BY ! ECONOMI/S4 ,:5 ,I READ ! WRIT+S ( ! GREAT] P>T ( !SE M51 ,I CANNOT AVOID A FEEL+ ( CONTEMPT M+L$ ) ANG]1 9 VIEW ( ?IS MASS ( NONS5SE1 9 :I* ! DETE/ABLE VIES ) ! ABSURD4 ,IT W\LD BE A REPETITION ( ! /ORY ( ! ELEPHANT 9 ! MOON1 W]E IT NOT = ! ATROCITY ( ! CONSEQU5CES4 ,TO SEEK A RATIONAL & LEGITIMATE ORIG9 ( ?AT :I* IS1 & EV] MU/ BE1 ONLY ROBB]Y1 EXTORTION1 & PLUND] -- ?AT MU/ BE ! HEI<T ( ! PROPRIETOR'S FOLLY2 ! LA/ DEGREE ( B$EVILM5T 9TO :I* M9DS1 O!RWISE JUDICI\S1 CAN BE ?R[N BY ! P]V]SITY ( SELFI%NESS4 

0,A F>M]10 SAYS ,SAY1 0IS A :EAT MANUFACTUR] :O1 AMONG O!R TOOLS :I* S]VE HIM 9 MODIFY+ ! MAT]IAL FROM :I* HE MAKES ! :EAT1 EMPLOYS ONE L>GE TOOL1 :I* WE CALL A FIELD4 ,IF HE IS NOT ! PROPRIETOR ( ! FIELD1 IF HE IS ONLY A T5ANT1 HE PAYS ! PROPRIETOR = ! PRODUCTIVE S]VICE ( ?IS TOOL4 ,! T5ANT IS REIMBURS$ BY ! PUR*AS]1 ! LATT] BY ANO!R1 UNTIL ! PRODUCT REA*ES ! CONSUM]2 :O R$EEMS ! FIR/ PAYM5T1 PLUS ALL ! O!RS1 BY MEANS ( :I* ! PRODUCT HAS AT LA/ COME 9TO HIS H&S40 

,LET US LAY ASIDE ! SUBSEQU5T PAYM5TS BY :I* ! PRODUCT REA*ES ! CONSUM]1 &1 = ! PRES5T1 PAY ATT5TION ONLY TO ! FIR/ ONE ( ALL1 -- ! R5T PAID TO ! PROPRIETOR BY ! T5ANT4 ,ON :AT GR\ND1 WE ASK1 IS ! PROPRIETOR 5TITL$ TO ?IS R5T8 

,ACCORD+ TO ,RIC>DO1 ,MAC,CULLO*1 & ,MILL1 F>M-R5T1 PROP]LY SPEAK+1 IS SIMPLY ! EXCESS ( ! PRODUCT ( ! MO/ F]TILE L& OV] ?AT ( L&S ( AN 9F]IOR QUALITY2 SO ?AT F>M-R5T IS NOT DEM&$ = ! =M] UNTIL ! 9CREASE ( POPULATION R5D]S NECESS>Y ! CULTIVATION ( ! LATT]4 

,IT IS DIFFICULT TO SEE ANY S5SE 9 ?IS4 ,H[ CAN A RI<T TO ! L& BE BAS$ UPON A DIFF]5CE 9 ! QUALITY ( ! L&8 ,H[ CAN V>IETIES ( SOIL 5G5D] A PR9CIPLE ( LEGISLATION & POLITICS8 ,?IS REASON+ IS EI!R SO SUBTLE1 OR SO /UPID1 ?AT ! MORE ,I ?9K ( IT1 ! MORE BEWILD]$ ,I BECOME4 ,SUPPOSE TWO PIECES ( L& ( EQUAL >EA2 ! ONE1 ,A1 CAPABLE ( SUPPORT+ T5 ?\S& 9HABITANTS2 ! O!R1 ,B1 CAPABLE ( SUPPORT+ N9E ?\S& ONLY3 :51 [+ TO AN 9CREASE 9 !IR NUMB]1 ! 9HABITANTS ( ,A %ALL BE =C$ TO CULTIVATE ,B1 ! L&$ PROPRIETORS ( ,A WILL EXACT FROM !IR T5ANTS 9 ,A A R5T PROPORTIONAL TO ! DIFF]5CE BETWE5 T5 & N9E4 ,SO SAY1 ,I ?9K1 ,RIC>DO1 ,MACCULLO*1 & ,MILL4 ,BUT IF ,A SUPPORTS AS MANY 9HABITANTS AS IT CAN CONTA91 -- ?AT IS1 IF ! 9HABITANTS ( ,A1 BY \R HYPO!SIS1 HAVE ONLY JU/ 5\< L& TO KEEP !M ALIVE1 -- H[ CAN !Y PAY F>M-R5T8 

,IF !Y HAD GONE NO F>!R ?AN TO SAY ?AT ! DIFF]5CE 9 L& HAS OCCASION$ F>M-R5T1 9/EAD ( CAUS$ IT1 ?IS OBS]VATION W\LD HAVE TAU<T US A VALUABLE LESSON2 NAMELY1 ?AT F>M-R5T GREW \T ( A DESIRE = EQUALITY4 ,9DE$1 IF ALL M5 HAVE AN EQUAL RI<T TO ! POSSESSION ( GOOD L&1 NO ONE CAN BE =C$ TO CULTIVATE BAD L& )\T 9DEMNIFICATION4 ,F>M-R5T -- ACCORD+ TO ,RIC>DO1 ,MACCULLO*1 & ,MILL -- W\LD !N HAVE BE5 A COMP5SATION = LOSS & H>D%IP4 ,?IS SY/EM ( PRACTICAL EQUALITY IS A BAD ONE1 NO D\BT2 BUT IT SPRANG FROM GOOD 9T5TIONS4 ,:AT >GUM5T CAN ,RIC>DO1 ,MACULLO* .<SIC.> 1 & ,MILL DEVELOP !REFROM 9 FAVOR ( PROP]TY8 ,!IR !ORY TURNS AGA9/ !MSELVES1 & /RANGLES !M4 

,MAL?US ?9KS ?AT F>M-R5T HAS ITS S\RCE 9 ! P[] POSSESS$ BY L& ( PRODUC+ MORE ?AN IS NECESS>Y TO SUPPLY ! WANTS ( ! M5 :O CULTIVATE IT4 ,I W\LD ASK ,MAL?US :Y SUCCESSFUL LABOR %\LD 5TITLE ! IDLE TO A PORTION ( ! PRODUCTS8 

,BUT ! WOR?Y ,MAL?US IS MI/AK5 9 REG>D TO ! FACT4 ,YES2 L& HAS ! P[] ( PRODUC+ MORE ?AN IS NE$$ BY ?OSE :O CULTIVATE IT1 IF BY CULTIVATORS IS MEANT T5ANTS ONLY4 ,! TAILOR ALSO MAKES MORE CLO!S ?AN HE WE>S1 & ! CAB9ET-MAK] MORE FURNITURE ?AN HE USES4 ,BUT1 S9CE ! V>I\S PR(ESSIONS IMPLY & SU/A9 ONE ANO!R1 NOT ONLY ! F>M]1 BUT ! FOLL[]S ( ALL >TS & TRADES -- EV5 TO ! DOCTOR & ! S*OOL-TEA*] -- >E1 & \<T TO BE1 REG>D$ AS CULTIVATORS ( ! L&4 ,MAL?US BASES F>M-R5T UPON ! PR9CIPLE ( COMM]CE4 ,N[1 ! FUNDAM5TAL LAW ( COMM]CE BE+ EQUIVAL5CE ( ! PRODUCTS EX*ANG$1 ANY ?+ :I* DE/ROYS ?IS EQUIVAL5CE VIOLATES ! LAW4 ,!RE IS AN ]ROR 9 ! E/IMATE :I* NE$S TO BE CORRECT$4 

,BU*ANAN -- A COMM5TATOR ON ,SMI? -- REG>D$ F>M-R5T AS ! RESULT ( A MONOPOLY1 & MA9TA9$ ?AT LABOR ALONE IS PRODUCTIVE4 ,CONSEQU5TLY1 HE ?\<T ?AT1 )\T ?IS MONOPOLY1 PRODUCTS W\LD RISE 9 PRICE2 & HE F\ND NO BASIS = F>M-R5T SAVE 9 ! CIVIL LAW4 ,?IS OP9ION IS A COROLL>Y ( ?AT :I* MAKES ! CIVIL LAW ! BASIS ( PROP]TY4 ,BUT :Y HAS ! CIVIL LAW -- :I* \<T TO BE ! WRITT5 EXPRESSION ( JU/ICE -- AU?ORIZ$ ?IS MONOPOLY8 ,:OEV] SAYS MONOPOLY1 NECESS>ILY EXCLUDES JU/ICE4 ,N[1 TO SAY ?AT F>M-R5T IS A MONOPOLY SANCTION$ BY ! LAW1 IS TO SAY ?AT 9JU/ICE IS BAS$ ON JU/ICE1 -- A CONTRADICTION 9 T]MS4 

,SAY ANSW]S ,BU*ANAN1 ?AT ! PROPRIETOR IS NOT A MONOPOLI/1 BECAUSE A MONOPOLI/ 0IS ONE :O DOES NOT 9CREASE ! UTILITY ( ! M]*&ISE :I* PASSES ?R\< HIS H&S40 

,H[ MU* DOES ! PROPRIETOR 9CREASE ! UTILITY ( HIS T5ANT'S PRODUCTS8 ,HAS HE PL[$1 S[$1 REAP$1 M[$1 W9N[$1 WE$$8 ,!SE >E ! PROCESSES BY :I* ! T5ANT & HIS EMPLOYES 9CREASE ! UTILITY ( ! MAT]IAL :I* !Y CONSUME = ! PURPOSE ( REPRODUCTION4 

0,! L&$ PROPRIETOR 9CREASES ! UTILITY ( PRODUCTS BY MEANS ( HIS IMPLEM5T1 ! L&4 ,?IS IMPLEM5T RECEIVES 9 ONE /ATE1 & RETURNS 9 ANO!R ! MAT]IALS ( :I* :EAT IS COMPOS$4 ,! ACTION ( ! L& IS A *EMICAL PROCESS1 :I* SO MODIFIES ! MAT]IAL ?AT IT MULTIPLIES IT BY DE/ROY+ IT4 ,! SOIL IS !N A PRODUC] ( UTILITY2 & :5 IT .<! SOIL8.> ASKS ITS PAY 9 ! =M ( PR(IT1 OR F>M R5T1 = ITS PROPRIETOR1 IT AT ! SAME TIME GIVES SOME?+ TO ! CONSUM] 9 EX*ANGE = ! AM\NT :I* ! CONSUM] PAYS IT4 ,IT GIVES HIM A PRODUC$ UTILITY2 & IT IS ! PRODUCTION ( ?IS UTILITY :I* W>RANTS US 9 CALL+ L& PRODUCTIVE1 AS WELL AS LABOR40 

,LET US CLE> UP ?IS MATT]4 

,! BLACKSMI? :O MANUFACTURES = ! F>M] IMPLEM5TS ( HUSB&RY1 ! :EELWRI<T :O MAKES HIM A C>T1 ! MASON :O BUILDS HIS B>N1 ! C>P5T]1 ! BASKET-MAK]1 @&C41 -- ALL ( :OM CONTRIBUTE TO AGRICULTURAL PRODUCTION BY ! TOOLS :I* !Y PROVIDE1 -- >E PRODUC]S ( UTILITY2 CONSEQU5TLY1 !Y >E 5TITL$ TO A P>T ( ! PRODUCTS4 

0,UND\BT$LY10 SAYS ,SAY2 0BUT ! L& ALSO IS AN IMPLEM5T :OSE S]VICE MU/ BE PAID =1 !N4440 

,I ADMIT ?AT ! L& IS AN IMPLEM5T2 BUT :O MADE IT8 ,DID ! PROPRIETOR8 ,DID HE -- BY ! EFFICACI\S VIRTUE ( ! RI<T ( PROP]TY1 BY ?IS MORAL QUALITY 9FUS$ 9TO ! SOIL -- 5D[ IT ) VIGOR & F]TILITY8 ,EXACTLY !RE LIES ! MONOPOLY ( ! PROPRIETOR2 9 ! FACT ?AT1 ?\< HE DID NOT MAKE ! IMPLEM5T1 HE ASKS PAY = ITS USE4 ,:5 ! ,CREATOR %ALL PRES5T HIMSELF & CLAIM F>M-R5T1 WE WILL CONSID] ! MATT] ) HIM2 OR EV5 :5 ! PROPRIETOR -- HIS PRET5D$ REPRES5TATIVE -- %ALL EXHIBIT HIS P[]-(-ATTORNEY4 

0,! PROPRIETOR'S S]VICE10 ADDS ,SAY1 0IS EASY1 ,I ADMIT40 

,IT IS A FRANK CONFESSION4 

0,BUT WE CANNOT DISREG>D IT4 ,)\T PROP]TY1 ONE F>M] W\LD CONT5D ) ANO!R = ! POSSESSION ( A FIELD )\T A PROPRIETOR1 & ! FIELD W\LD REMA9 UNCULTIVAT$4440 

,!N ! PROPRIETOR'S BUS9ESS IS TO RECONCILE F>M]S BY ROBB+ !M4 ,O LOGIC6 ,O JU/ICE6 ,O ! M>VEL\S WISDOM ( ECONOMI/S6 ,! PROPRIETOR1 IF !Y >E RI<T1 IS LIKE ,P]R9-,D&9 :O1 :5 SUMMON$ BY TWO TRAVEL]S TO SETTLE A DISPUTE AB\T AN OY/]1 OP5$ IT1 GOBBL$ IT1 & SAID TO !M3 -- 

0,! ,C\RT AW>DS Y\ EA* A %ELL40 

,C\LD ANY ?+ WORSE BE SAID ( PROP]TY8 

,WILL ,SAY TELL US :Y ! SAME F>M]S1 :O1 IF !RE W]E NO PROPRIETORS1 W\LD CONT5D ) EA* O!R = POSSESSION ( ! SOIL1 DO NOT CONT5D TO-DAY ) ! PROPRIETORS = ?IS POSSESSION8 ,OBVI\SLY1 BECAUSE !Y ?9K !M LEGITIMATE POSSESSORS1 & BECAUSE !IR RESPECT = EV5 AN IMAG9>Y RI<T EXCE$S !IR AV>ICE4 ,I PROV$1 9 ,*APT] ,I,I41 ?AT POSSESSION IS SUFFICI5T1 )\T PROP]TY1 TO MA9TA9 SOCIAL ORD]4 ,W\LD IT BE MORE DIFFICULT1 !N1 TO RECONCILE POSSESSORS )\T MA/]S ?AN T5ANTS CONTROLL$ BY PROPRIETORS8 ,W\LD LABOR+ M51 :O RESPECT -- MU* TO !IR [N DETRIM5T -- ! PRET5D$ RI<TS ( ! IDL]1 VIOLATE ! NATURAL RI<TS ( ! PRODUC] & ! MANUFACTUR]8 ,:AT6 IF ! HUSB&MAN =FEIT$ HIS RI<T TO ! L& AS SOON AS HE CEAS$ TO OCCUPY IT1 W\LD HE BECOME MORE COVET\S8 ,& W\LD ! IMPOSSIBILITY ( DEM&+ 9CREASE1 ( TAX+ ANO!R'S LABOR1 BE A S\RCE ( QU>RELS & LAW-SUITS8 ,! ECONOMI/S USE S+UL> LOGIC4 ,BUT WE >E NOT YET ?R\<4 ,ADMIT ?AT ! PROPRIETOR IS ! LEGITIMATE MA/] ( ! L&4 

0,! L& IS AN 9/RUM5T ( PRODUCTION10 !Y SAY4 ,?AT IS TRUE4 ,BUT :51 *ANG+ ! N\N 9TO AN ADJECTIVE1 !Y ALT] ! PHRASE1 ?US1 0,! L& IS A PRODUCTIVE 9/RUM5T10 !Y MAKE A WICK$ BLUND]4 

,ACCORD+ TO ,QUESNAY & ! E>LY ECONOMI/S1 ALL PRODUCTION COMES FROM ! L&4 ,SMI?1 ,RIC>DO1 & DE ,TRACY1 ON ! CONTR>Y1 SAY ?AT LABOR IS ! SOLE AG5T ( PRODUCTION4 ,SAY1 & MO/ ( HIS SUCCESSORS1 TEA* ?AT BO? L& & LABOR & CAPITAL >E PRODUCTIVE4 ,! LATT] CON/ITUTE ! ECLECTIC S*OOL ( POLITICAL ECONOMY4 ,! TRU? IS1 ?AT NEI!R L& NOR LABOR NOR CAPITAL IS PRODUCTIVE4 ,PRODUCTION RESULTS FROM ! COOP]ATION ( !SE ?REE EQUALLY NECESS>Y ELEM5TS1 :I*1 TAK5 SEP>ATELY1 >E EQUALLY /]ILE4 

,POLITICAL ECONOMY1 9DE$1 TREATS ( ! PRODUCTION1 DI/RIBUTION1 & CONSUMPTION ( WEAL? OR VALUES4 ,BUT ( :AT VALUES8 ,( ! VALUES PRODUC$ BY HUMAN 9DU/RY2 ?AT IS1 ( ! *ANGES MADE 9 MATT] BY MAN1 ?AT HE MAY APPROPRIATE IT TO HIS [N USE1 & NOT AT ALL ( ,NATURE'S SPONTANE\S PRODUCTIONS4 ,MAN'S LABOR CONSI/S 9 A SIMPLE LAY+ ON ( H&S4 ,:5 HE HAS TAK5 ?AT TR\BLE1 HE HAS PRODUC$ A VALUE4 ,UNTIL !N1 ! SALT ( ! SEA1 ! WAT] ( ! SPR+S1 ! GRASS ( ! FIELDS1 & ! TREES ( ! =E/S >E TO HIM AS IF !Y W]E NOT4 ,! SEA1 )\T ! FI%]MAN & HIS L9E1 SUPPLIES NO FI%4 ,! =E/1 )\T ! WOOD-CUTT] & HIS AX1 FURNI%ES NEI!R FUEL NOR TIMB]4 

,! MEAD[1 )\T ! M[]1 YIELDS NEI!R HAY NOR AFT]MA?4 ,NATURE IS A VA/ MASS ( MAT]IAL TO BE CULTIVAT$ & CONV]T$ 9TO PRODUCTS2 BUT ,NATURE PRODUCES NO?+ = H]SELF3 9 ! ECONOMICAL S5SE1 H] PRODUCTS1 9 !IR RELATION TO MAN1 >E NOT YET PRODUCTS4 

,CAPITAL1 TOOLS1 & MA*9]Y >E LIKEWISE UNPRODUCTIVE4 ,! HAMM] & ! ANVIL1 )\T ! BLACKSMI? & ! IRON1 DO NOT =GE4 ,! MILL1 )\T ! MILL] & ! GRA91 DOES NOT GR9D1 @&C4 ,BR+ TOOLS & RAW MAT]IAL TOGE!R2 PLACE A PL[ & SOME SE$ ON F]TILE SOIL2 5T] A SMI?Y1 LI<T ! FIRE1 & %UT UP ! %OP1 -- Y\ WILL PRODUCE NO?+4 ,! FOLL[+ REM>K WAS MADE BY AN ECONOMI/ :O POSSESS$ MORE GOOD S5SE ?AN MO/ ( HIS FELL[S3 0,SAY CR$ITS CAPITAL ) AN ACTIVE P>T UNW>RANT$ BY ITS NATURE2 LEFT TO ITSELF1 IT IS AN IDLE TOOL40 7,J4 ,DROZ3 ,POLITICAL ,ECONOMY47 

,F9ALLY1 LABOR & CAPITAL TOGE!R1 :5 UN=TUNATELY COMB9$1 PRODUCE NO?+4 ,PL[ A S&Y DES]T1 BEAT ! WAT] ( ! RIV]S1 PASS TYPE ?R\< A SIEVE1 -- Y\ WILL GET NEI!R :EAT1 NOR FI%1 NOR BOOKS4 ,Y\R TR\BLE WILL BE AS FRUITLESS AS WAS ! IMM5SE LABOR ( ! >MY ( ,X]XES2 :O1 AS ,H]ODOTUS SAYS1 ) HIS ?REE MILLION SOLDI]S1 SC\RG$ ! ,HELLESPONT = TW5TY-F\R H\RS1 AS A PUNI%M5T = HAV+ BROK5 & SCATT]$ ! PONTOON BRIDGE :I* ! GREAT K+ HAD ?R[N ACROSS IT4 

,TOOLS & CAPITAL1 L& & LABOR1 CONSID]$ 9DIVIDUALLY & AB/RACTLY1 >E NOT1 LIT]ALLY SPEAK+1 PRODUCTIVE4 ,! PROPRIETOR :O ASKS TO BE REW>D$ = ! USE ( A TOOL1 OR ! PRODUCTIVE P[] ( HIS L&1 TAKES = GRANT$1 !N1 ?AT :I* IS RADICALLY FALSE2 NAMELY1 ?AT CAPITAL PRODUCES BY ITS [N EF=T1 -- &1 9 TAK+ PAY = ?IS IMAG9>Y PRODUCT1 HE LIT]ALLY RECEIVES SOME?+ = NO?+4 

,OBJECTION4 -- ,BUT IF ! BLACKSMI?1 ! :EELWRI<T1 ALL MANUFACTUR]S 9 %ORT1 HAVE A RI<T TO ! PRODUCTS 9 RETURN = ! IMPLEM5TS :I* !Y FURNI%2 & IF L& IS AN IMPLEM5T ( PRODUCTION1 -- :Y DOES NOT ?IS IMPLEM5T 5TITLE ITS PROPRIETOR1 BE HIS CLAIM REAL OR IMAG9>Y1 TO A PORTION ( ! PRODUCTS2 AS 9 ! CASE ( ! MANUFACTUR]S ( PL[S & WAGONS8 

,REPLY4 -- ,H]E WE T\* ! HE>T ( ! QUE/ION1 ! MY/]Y ( PROP]TY2 :I* WE MU/ CLE> UP1 IF WE W\LD UND]/& ANY ?+ ( ! /RANGE EFFECTS ( ! RI<T ( 9CREASE4 

,HE :O MANUFACTURES OR REPAIRS ! F>M]'S TOOLS RECEIVES ! PRICE ONCE1 EI!R AT ! TIME ( DELIV]Y1 OR 9 SEV]AL PAYM5TS2 & :5 ?IS PRICE IS ONCE PAID TO ! MANUFACTUR]1 ! TOOLS :I* HE HAS DELIV]$ BELONG TO HIM NO MORE4 ,NEV] DOES HE CLAIM D\BLE PAYM5T = ! SAME TOOL1 OR ! SAME JOB ( REPAIRS4 ,IF HE ANNUALLY %>ES 9 ! PRODUCTS ( ! F>M]1 IT IS [+ TO ! FACT ?AT HE ANNUALLY MAKES SOME?+ = ! F>M]4 

,! PROPRIETOR1 ON ! CONTR>Y1 DOES NOT YIELD HIS IMPLEM5T2 ET]NALLY HE IS PAID = IT1 ET]NALLY HE KEEPS IT4 

,9 FACT1 ! R5T RECEIV$ BY ! PROPRIETOR IS NOT 9T5D$ TO DEFRAY ! EXP5SE ( MA9TA9+ & REPAIR+ ! IMPLEM5T2 ?IS EXP5SE IS *>G$ TO ! BORR[]1 & DOES NOT CONC]N ! PROPRIETOR EXCEPT AS HE IS 9T]E/$ 9 ! PRES]VATION ( ! >TICLE4 ,IF HE TAKES IT UPON HIMSELF TO ATT5D TO ! REPAIRS1 HE TAKES C>E ?AT ! MONEY :I* HE EXP5DS = ?IS PURPOSE IS REPAID4 

,?IS R5T DOES NOT REPRES5T ! PRODUCT ( ! IMPLEM5T1 S9CE ( ITSELF ! IMPLEM5T PRODUCES NO?+2 WE HAVE JU/ PROV$ ?IS1 & WE %ALL PROVE IT MORE CLE>LY /ILL BY ITS CONSEQU5CES4 

,F9ALLY1 ?IS R5T DOES NOT REPRES5T ! P>TICIPATION ( ! PROPRIETOR 9 ! PRODUCTION2 S9CE ?IS P>TICIPATION C\LD CONSI/1 LIKE ?AT ( ! BLACKSMI? & ! :EELWRI<T1 ONLY 9 ! SURR5D] ( ! :OLE OR A P>T ( HIS IMPLEM5T1 9 :I* CASE HE W\LD CEASE TO BE ITS PROPRIETOR1 :I* W\LD 9VOLVE A CONTRADICTION ( ! IDEA ( PROP]TY4 

,!N1 BETWE5 ! PROPRIETOR & HIS T5ANT !RE IS NO EX*ANGE EI!R ( VALUES OR S]VICES2 !N1 AS \R AXIOM SAYS1 F>M-R5T IS REAL 9CREASE1 -- AN EXTORTION BAS$ SOLELY UPON FRAUD & VIOL5CE ON ! ONE H&1 & WEAKNESS & IGNORANCE UPON ! O!R4 ,PRODUCTS SAY ! ECONOMI/S1 >E B\<T ONLY BY PRODUCTS4 ,?IS MAXIM IS PROP]TY'S CONDEMNATION4 ,! PROPRIETOR1 PRODUC+ NEI!R BY HIS [N LABOR NOR BY HIS IMPLEM5T1 & RECEIV+ PRODUCTS 9 EX*ANGE = NO?+1 IS EI!R A P>ASITE OR A ?IEF4 ,!N1 IF PROP]TY CAN EXI/ ONLY AS A RI<T1 PROP]TY IS IMPOSSIBLE4 

,COROLL>IES4 -- #a4 ,! REPUBLICAN CON/ITUTION ( #a#g#i#c1 :I* DEF9$ PROP]TY AS 0! RI<T TO 5JOY ! FRUIT ( ONE'S LABOR10 WAS GROSSLY MI/AK54 ,IT %\LD HAVE SAID1 0,PROP]TY IS ! RI<T TO 5JOY & DISPOSE AT WILL ( ANO!R'S GOODS1 -- ! FRUIT ( ANO!R'S 9DU/RY & LABOR40 

#b4 ,EV]Y POSSESSOR ( L&S1 H\SES1 FURNITURE1 MA*9]Y1 TOOLS1 MONEY1 @&C41 :O L5DS A ?+ = A PRICE EXCE$+ ! CO/ ( REPAIRS 7! REPAIRS BE+ *>G$ TO ! L5D]1 & REPRES5T+ PRODUCTS :I* HE EX*ANGES = O!R PRODUCTS71 IS GUILTY ( SW9DL+ & EXTORTION4 ,9 %ORT1 ALL R5T RECEIV$ 7NOM9ALLY AS DAMAGES1 BUT REALLY AS PAYM5T = A LOAN7 IS AN ACT ( PROP]TY1 -- A ROBB]Y4 

,HI/ORICAL ,COMM5T4 -- ,! TAX :I* A VICTORI\S NATION LEVIES UPON A CONQU]$ NATION IS G5U9E F>M-R5T4 ,! SEIGNIORIAL RI<TS ABOLI%$ BY ! ,REVOLUTION ( #a#g#h#i1 -- TI!S1 MORTMA91 /ATUTE-LABOR1 @&C41 -- W]E DIFF]5T =MS ( ! RI<TS ( PROP]TY2 & !Y :O UND] ! TITLES ( NOBLES1 SEIGNEURS1 PREB5D>IES1 @&C4 5JOY$ !SE RI<TS1 W]E NEI!R MORE NOR LESS ?AN PROPRIETORS4 ,TO DEF5D PROP]TY TO-DAY IS TO CONDEMN ! ,REVOLUTION4 

,SECOND ,PROPOSITION4 ,PROP]TY IS IMPOSSIBLE BECAUSE :]EV] IT EXI/S ,PRODUCTION CO/S MORE ?AN IT IS WOR?4 

,! PREC$+ PROPOSITION WAS LEGISLATIVE 9 ITS NATURE2 ?IS ONE IS ECONOMICAL4 ,IT S]VES TO PROVE ?AT PROP]TY1 :I* ORIG9ATES 9 VIOL5CE1 RESULTS 9 WA/E4 

0,PRODUCTION10 SAYS ,SAY1 0IS EX*ANGE ON A L>GE SCALE4 ,TO R5D] ! EX*ANGE PRODUCTIVE ! VALUE ( ! :OLE AM\NT ( S]VICE MU/ BE BALANC$ BY ! VALUE ( ! PRODUCT4 ,IF ?IS CONDITION IS NOT COMPLI$ )1 ! EX*ANGE IS UNEQUAL2 ! PRODUC] GIVES MORE ?AN HE RECEIVES40 

,N[1 VALUE BE+ NECESS>ILY BAS$ UPON UTILITY1 IT FOLL[S ?AT EV]Y USELESS PRODUCT IS NECESS>ILY VALUELESS1 -- ?AT IT CANNOT BE EX*ANG$2 &1 CONSEQU5TLY1 ?AT IT CANNOT BE GIV5 9 PAYM5T = PRODUCTIVE S]VICES4 

,!N1 ?\< PRODUCTION MAY EQUAL CONSUMPTION1 IT NEV] CAN EXCE$ IT2 = !RE IS NO REAL PRODUCTION SAVE :]E !RE IS A PRODUCTION ( UTILITY1 & !RE IS NO UTILITY SAVE :]E !RE IS A POSSIBILITY ( CONSUMPTION4 ,?US1 SO MU* ( EV]Y PRODUCT AS IS R5D]$ BY EXCESSIVE ABUNDANCE 9CONSUMABLE1 BECOMES USELESS1 VALUELESS1 UNEX*ANGEABLE1 -- CONSEQU5TLY1 UNFIT TO BE GIV5 9 PAYM5T = ANY ?+ :ATEV]1 & IS NO LONG] A PRODUCT4 

,CONSUMPTION1 ON ! O!R H&1 TO BE LEGITIMATE1 -- TO BE TRUE CONSUMPTION1 -- MU/ BE REPRODUCTIVE ( UTILITY2 =1 IF IT IS UNPRODUCTIVE1 ! PRODUCTS :I* IT DE/ROYS >E CANCEL$ VALUES -- ?+S PRODUC$ AT A PURE LOSS2 A /ATE ( ?+S :I* CAUSES PRODUCTS TO DEPRECIATE 9 VALUE4 ,MAN HAS ! P[] TO DE/ROY1 BUT HE CONSUMES ONLY ?AT :I* HE REPRODUCES4 ,UND] A RI<T SY/EM ( ECONOMY1 !RE IS !N AN EQUATION BETWE5 PRODUCTION & CONSUMPTION4 

,!SE PO9TS E/ABLI%$1 LET US SUPPOSE A COMMUNITY ( ONE ?\S& FAMILIES1 5CLOS$ 9 A T]RITORY ( A GIV5 CIRCUMF]5CE1 & DEPRIV$ ( =EIGN 9T]C\RSE4 ,LET ?IS COMMUNITY REPRES5T ! HUMAN RACE1 :I*1 SCATT]$ OV] ! FACE ( ! E>?1 IS REALLY ISOLAT$4 ,9 FACT1 ! DIFF]5CE BETWE5 A COMMUNITY & ! HUMAN RACE BE+ ONLY A NUM]ICAL ONE1 ! ECONOMICAL RESULTS WILL BE ABSOLUTELY ! SAME 9 EA* CASE4 

,SUPPOSE1 !N1 ?AT !SE ?\S& FAMILIES1 DEVOT+ !MSELVES EXCLUSIVELY TO :EAT-CULTURE1 >E OBLIG$ TO PAY TO ONE HUNDR$ 9DIVIDUALS1 *OS5 FROM ! MASS1 AN ANNUAL REV5UE ( T5 P]C5T ON !IR PRODUCT4 ,IT IS CLE> ?AT1 9 SU* A CASE1 ! RI<T ( 9CREASE IS EQUIVAL5T TO A TAX LEVI$ 9 ADVANCE UPON SOCIAL PRODUCTION4 ,( :AT USE IS ?IS TAX8 

,IT CANNOT BE LEVI$ TO SUPPLY ! COMMUNITY ) PROVISIONS1 = BETWE5 ?AT & F>M-R5T !RE IS NO?+ 9 COMMON2 NOR TO PAY = S]VICES & PRODUCTS1 -- = ! PROPRIETORS1 LABOR+ LIKE ! O!RS1 HAVE LABOR$ ONLY = !MSELVES4 ,F9ALLY1 ?IS TAX IS ( NO USE TO ITS RECIPI5TS :O1 HAV+ H>VE/$ :EAT 5\< = !IR [N CONSUMPTION1 & NOT BE+ ABLE 9 A SOCIETY )\T COMM]CE & MANUFACTURES TO PROCURE ANY ?+ ELSE 9 EX*ANGE = IT1 !REBY LOSE ! ADVANTAGE ( !IR 9COME4 

,9 SU* A SOCIETY1 ONE-T5? ( ! PRODUCT BE+ 9CONSUMABLE1 ONE-T5? ( ! LABOR GOES UNPAID -- PRODUCTION CO/S MORE ?AN IT IS WOR?4 

,N[1 *ANGE ?REE HUNDR$ ( \R :EAT-PRODUC]S 9TO >TISANS ( ALL K9DS3 ONE HUNDR$ G>D5]S & W9E-GR[]S1 SIXTY %OEMAK]S & TAILORS1 FIFTY C>P5T]S & BLACKSMI?S1 EI<TY ( V>I\S PR(ESSIONS1 &1 ?AT NO?+ MAY BE LACK+1 SEV5 S*OOL-MA/]S1 ONE MAYOR1 ONE JUDGE1 & ONE PRIE/2 EA* 9DU/RY FURNI%ES ! :OLE COMMUNITY ) ITS SPECIAL PRODUCT4 ,N[1 ! TOTAL PRODUCTION BE+ ONE ?\S&1 EA* LABOR]'S CONSUMPTION IS ONE2 NAMELY1 :EAT1 MEAT1 & GRA91 4#g2 W9E & VEGETABLES1 4#a2 %OES & CLO?+1 4#f2 IRON-WORK & FURNITURE1 4#e2 SUNDRIES1 4#h2 9/RUCTION1 4#g2 ADM9I/RATION1 4#b2 MASS1 4#a1 ,TOTAL #a4 

,BUT ! COMMUNITY [ES A REV5UE ( T5 P]C5T2 & IT MATT]S LITTLE :E!R ! F>M]S ALONE PAY IT1 OR ALL ! LABOR]S >E RESPONSIBLE = IT1 -- ! RESULT IS ! SAME4 ,! F>M] RAISES ! PRICE ( HIS PRODUCTS 9 PROPORTION TO HIS %>E ( ! DEBT2 ! O!R LABOR]S FOLL[ HIS EXAMPLE4 ,!N1 AFT] SOME FLUCTUATIONS1 EQUILIBRIUM IS E/ABLI%$1 & ALL PAY NE>LY ! SAME AM\NT ( ! REV5UE4 ,IT W\LD BE A GRAVE ]ROR TO ASSUME ?AT 9 A NATION NONE BUT F>M]S PAY F>M-R5T -- ! :OLE NATION PAYS IT4 

,I SAY1 !N1 ?AT BY ?IS TAX ( T5 P]C5T EA* LABOR]'S CONSUMPTION IS R$UC$ AS FOLL[S3 :EAT1 4#f#c2 W9E & VEGETABLES1 4#i2 CLO?+ & %OES1 4#e#d2 FURNITURE & IRON-WORK1 4#d#e2 O!R PRODUCTS1 4#g#b2 S*OOL+1 4#f#c2 ADM9I/RATION1 4#a#h2 MASS1 4#i4 ,TOTAL 4#i4 

,! LABOR] HAS PRODUC$ #a2 HE CONSUMES ONLY 4#i4 ,HE LOSES1 !N1 ONE-T5? ( ! PRICE ( HIS LABOR2 HIS PRODUCTION /ILL CO/S MORE ?AN IT IS WOR?4 ,ON ! O!R H&1 ! T5? RECEIV$ BY ! PROPRIETORS IS NO LESS A WA/E2 =1 BE+ LABOR]S !MSELVES1 !Y1 LIKE ! O!RS1 POSSESS 9 ! N9E-T5?S ( !IR PRODUCT ! :]E)AL TO LIVE3 !Y WANT = NO?+4 ,:Y %\LD !Y WI% !IR PROPORTION ( BREAD1 W9E1 MEAT1 CLO!S1 %ELT]1 @&C41 TO BE D\BL$1 IF !Y CAN NEI!R CONSUME NOR EX*ANGE !M8 ,!N F>M-R5T1 ) !M AS ) ! RE/ ( ! LABOR]S1 IS A WA/E1 & P]I%ES 9 !IR H&S4 ,EXT5D ! HYPO!SIS1 9CREASE ! NUMB] & V>IETY ( ! PRODUCTS1 Y\ /ILL HAVE ! SAME RESULT4 

,HI!RTO1 WE HAVE CONSID]$ ! PROPRIETOR AS TAK+ P>T 9 ! PRODUCTION1 NOT ONLY 7AS ,SAY SAYS7 BY ! USE ( HIS 9/RUM5T1 BUT 9 AN EFFECTIVE MANN] & BY ! LABOR ( HIS H&S4 ,N[1 IT IS EASY TO SEE ?AT1 UND] SU* CIRCUM/ANCES1 PROP]TY WILL NEV] EXI/4 ,:AT HAPP5S8 

,! PROPRIETOR -- AN ESS5TIALLY LIBID9\S ANIMAL1 )\T VIRTUE OR %AME -- IS NOT SATISFI$ ) AN ORD]LY & DISCIPL9$ LIFE4 ,HE LOVES PROP]TY1 BECAUSE IT 5ABLES HIM TO DO AT LEISURE :AT HE PLEASES & :5 HE PLEASES4 ,HAV+ OBTA9$ ! MEANS ( LIFE1 HE GIVES HIMSELF UP TO TRIVIALITIES & 9DOL5CE2 HE 5JOYS1 HE FRITT]S AWAY HIS TIME1 HE GOES 9 QUE/ ( CURIOSITIES & NOVEL S5SATIONS4 ,PROP]TY -- TO 5JOY ITSELF -- HAS TO AB&ON ORD9>Y LIFE1 & BUSY ITSELF 9 LUXURI\S OCCUPATIONS & UNCLEAN 5JOYM5TS4 

,9/EAD ( GIV+ UP A F>M-R5T1 :I* IS P]I%+ 9 !IR H&S1 & ?US LI<T5+ ! LABOR ( ! COMMUNITY1 \R HUNDR$ PROPRIETORS PREF] TO RE/4 ,9 CONSEQU5CE ( ?IS )DRAWAL1 -- ! ABSOLUTE PRODUCTION BE+ DIM9I%$ BY ONE HUNDR$1 :ILE ! CONSUMPTION REMA9S ! SAME1 -- PRODUCTION & CONSUMPTION SEEM TO BALANCE4 ,BUT1 9 ! FIR/ PLACE1 S9CE ! PROPRIETORS NO LONG] LABOR1 !IR CONSUMPTION IS1 ACCORD+ TO ECONOMICAL PR9CIPLES1 UNPRODUCTIVE2 CONSEQU5TLY1 ! PREVI\S CONDITION ( ! COMMUNITY -- :5 ! LABOR ( ONE HUNDR$ WAS REW>D$ BY NO PRODUCTS -- IS SUP]S$$ BY ONE 9 :I* ! PRODUCTS ( ONE HUNDR$ >E CONSUM$ )\T LABOR4 ,! DEFICIT IS ALWAYS ! SAME1 :I*EV] ! COLUMN ( ! ACC\NT 9 :I* IT IS EXPRESS$4 ,EI!R ! MAXIMS ( POLITICAL ECONOMY >E FALSE1 OR ELSE PROP]TY1 :I* CONTRADICTS !M1 IS IMPOSSIBLE4 

,! ECONOMI/S -- REG>D+ ALL UNPRODUCTIVE CONSUMPTION AS AN EVIL1 AS A ROBB]Y ( ! HUMAN RACE -- NEV] FAIL TO EXHORT PROPRIETORS TO MOD]ATION1 LABOR1 & ECONOMY2 !Y PREA* TO !M ! NECESSITY ( MAK+ !MSELVES USEFUL1 ( REMUN]AT+ PRODUCTION = ?AT :I* !Y RECEIVE FROM IT2 !Y LAUN* ! MO/ T]RIBLE CURSES AGA9/ LUXURY & LAZ9ESS4 ,V]Y BEAUTIFUL MORALITY1 SURELY2 IT IS A PITY ?AT IT LACKS COMMON S5SE4 ,! PROPRIETOR :O LABORS1 OR1 AS ! ECONOMI/S SAY1 :O MAKES HIMSELF USEFUL1 IS PAID = ?IS LABOR & UTILITY2 IS HE1 !RE=E1 ANY ! LESS IDLE AS CONC]NS ! PROP]TY :I* HE DOES NOT USE1 & FROM :I* HE RECEIVES AN 9COME8 ,HIS CONDITION1 :ATEV] HE MAY DO1 IS AN UNPRODUCTIVE & FELONI\S ONE2 HE CANNOT CEASE TO WA/E & DE/ROY )\T CEAS+ TO BE A PROPRIETOR4 

,BUT ?IS IS ONLY ! LEA/ ( ! EVILS :I* PROP]TY 5G5D]S4 ,SOCIETY HAS TO MA9TA9 SOME IDLE PEOPLE1 :E!R OR NO4 ,IT WILL ALWAYS HAVE ! BL9D1 ! MAIM$1 ! 9SANE1 & ! IDIOTIC4 ,IT CAN EASILY SUPPORT A FEW SLUGG>DS4 ,AT ?IS PO9T1 ! IMPOSSIBILITIES ?ICK5 & BECOME COMPLICAT$4 

,?IRD ,PROPOSITION4 ,PROP]TY IS IMPOSSIBLE1 BECAUSE1 ) A GIV5 CAPITAL1 ,PRODUCTION IS PROPORTIONAL TO LABOR1 NOT TO PROP]TY4 

,TO PAY A F>M-R5T ( ONE HUNDR$ AT ! RATE ( T5 P]C5T ( ! PRODUCT1 ! PRODUCT MU/ BE ONE ?\S&2 ?AT ! PRODUCT MAY BE ONE ?\S&1 A =CE ( ONE ?\S& LABOR]S IS NE$$4 ,IT FOLL[S1 ?AT 9 GRANT+ A FURL\<1 AS WE HAVE JU/ DONE1 TO \R ONE HUNDR$ LABOR]-PROPRIETORS1 ALL ( :OM HAD AN EQUAL RI<T TO LEAD ! LIFE ( M5 ( 9COME1 -- WE HAVE PLAC$ \RSELVES 9 A POSITION :]E WE >E UNABLE TO PAY !IR REV5UES4 ,9 FACT1 ! PRODUCTIVE P[]1 :I* AT FIR/ WAS ONE ?\S&1 BE+ N[ BUT N9E HUNDR$1 ! PRODUCTION IS ALSO R$UC$ TO N9E HUNDR$1 ONE-T5? ( :I* IS N9ETY4 ,EI!R1 !N1 T5 PROPRIETORS \T ( ! ONE HUNDR$ CANNOT BE PAID1 -- PROVID$ ! REMA9+ N9ETY >E TO GET ! :OLE AM\NT ( !IR F>M-R5T1 -- OR ELSE ALL MU/ CONS5T TO A DECREASE ( T5 P]C5T4 ,= IT IS NOT = ! LABOR]1 :O HAS BE5 WANT+ 9 NO P>TICUL>1 :O HAS PRODUC$ AS 9 ! PA/1 TO SUFF] BY ! )DRAWAL ( ! PROPRIETOR4 ,! LATT] MU/ TAKE ! CONSEQU5CES ( HIS [N IDL5ESS4 ,BUT1 !N1 ! PROPRIETOR BECOMES POOR] = ! V]Y REASON ?AT HE WI%ES TO 5JOY2 BY EX]CIS+ HIS RI<T1 HE LOSES IT2 SO ?AT PROP]TY SEEMS TO DECREASE & VANI% 9 PROPORTION AS WE TRY TO LAY HOLD ( IT1 -- ! MORE WE PURSUE IT1 ! MORE IT ELUDES \R GRASP4 ,:AT SORT ( A RI<T IS ?AT :I* IS GOV]N$ BY NUM]ICAL RELATIONS1 & :I* AN >I?METICAL CALCULATION CAN DE/ROY8 

,! LABOR]-PROPRIETOR RECEIV$1 FIR/1 AS LABOR]1 4#i 9 WAGES2 SECOND1 AS PROPRIETOR1 #a 9 F>M-R5T4 ,HE SAID TO HIMSELF1 0,MY F>M-R5T IS SUFFICI5T2 ,I HAVE 5\< & TO SP>E )\T MY LABOR40 ,& ?US IT IS ?AT ! 9COME UPON :I* HE CALCULAT$ GETS DIM9I%$ BY ONE-T5?1 -- HE AT ! SAME TIME NOT EV5 SUSPECT+ ! CAUSE ( ?IS DIM9UTION4 ,BY TAK+ P>T 9 ! PRODUCTION1 HE WAS HIMSELF ! CREATOR ( ?IS T5? :I* HAS VANI%$2 & :ILE HE ?\<T TO LABOR ONLY = HIMSELF1 HE UNWITT+LY SUFF]$ A LOSS 9 EX*ANG+ HIS PRODUCTS1 BY :I* HE WAS MADE TO PAY TO HIMSELF ONE-T5? ( HIS [N F>M-R5T4 ,LIKE EV]Y ONE ELSE1 HE PRODUC$ #a1 & RECEIV$ BUT 4#i 

,IF1 9/EAD ( N9E HUNDR$ LABOR]S1 !RE HAD BE5 BUT FIVE HUNDR$1 ! :OLE AM\NT ( F>M-R5T W\LD HAVE BE5 R$UC$ TO FIFTY2 IF !RE HAD BE5 BUT ONE HUNDR$1 IT W\LD HAVE FALL5 TO T54 ,WE MAY POSIT1 !N1 ! FOLL[+ AXIOM AS A LAW ( PROPRIET>Y ECONOMY3  ,9CREASE MU/ DIM9I% AS ! NUMB] ( IDL]S AUGM5TS4 

,?IS FIR/ RESULT WILL LEAD US TO ANO!R MORE SURPRIS+ /ILL4 ,ITS EFFECT IS TO DELIV] US AT ONE BL[ FROM ALL ! EVILS ( PROP]TY1 )\T ABOLI%+ IT1 )\T WRONG+ PROPRIETORS1 & BY A HI<LY CONS]VATIVE PROCESS4 

,WE HAVE JU/ PROV$ ?AT1 IF ! F>M-R5T 9 A COMMUNITY ( ONE ?\S& LABOR]S IS ONE HUNDR$1 ?AT ( N9E HUNDR$ W\LD BE N9ETY1 ?AT ( EI<T HUNDR$1 EI<TY1 ?AT ( ONE HUNDR$1 T51 @&C4 ,SO ?AT1 9 A COMMUNITY :]E !RE WAS BUT ONE LABOR]1 ! F>M-R5T W\LD BE BUT 4#a2 NO MATT] H[ GREAT ! EXT5T & VALUE ( ! L& APPROPRIAT$4 ,!RE=E1 ) A GIV5 L&$ CAPITAL1 PRODUCTION IS PROPORTIONAL TO LABOR1 NOT TO PROP]TY4 

,GUID$ BY ?IS PR9CIPLE1 LET US TRY TO ASC]TA9 ! MAXIMUM 9CREASE ( ALL PROP]TY :ATEV]4 

,:AT IS1 ESS5TIALLY1 A F>M-LEASE8 ,IT IS A CONTRACT BY :I* ! PROPRIETOR YIELDS TO A T5ANT POSSESSION ( HIS L&1 9 CONSID]ATION ( A PORTION ( ?AT :I* IT YIELDS HIM1 ! PROPRIETOR4 ,IF1 9 CONSEQU5CE ( AN 9CREASE 9 HIS H\SEHOLD1 ! T5ANT BECOMES T5 TIMES AS /RONG AS ! PROPRIETOR1 HE WILL PRODUCE T5 TIMES AS MU*4 ,W\LD ! PROPRIETOR 9 SU* A CASE BE JU/IFI$ 9 RAIS+ ! F>M-R5T T5FOLD8 ,HIS RI<T IS NOT1 ,! MORE Y\ PRODUCE1 ! MORE ,I DEM&4 ,IT IS1 ,! MORE ,I SACRIFICE1 ! MORE ,I DEM&4 ,! 9CREASE 9 ! T5ANT'S H\SEHOLD1 ! NUMB] ( H&S AT HIS DISPOSAL1 ! RES\RCES ( HIS 9DU/RY1 -- ALL !SE S]VE TO 9CREASE PRODUCTION1 BUT BE> NO RELATION TO ! PROPRIETOR4 ,HIS CLAIMS >E TO BE MEASUR$ BY HIS [N PRODUCTIVE CAPACITY1 NOT ?AT ( O!RS4 ,PROP]TY IS ! RI<T ( 9CREASE1 NOT A POLL-TAX4 ,H[ C\LD A MAN1 H>DLY CAPABLE ( CULTIVAT+ EV5 A FEW ACRES BY HIMSELF1 DEM& ( A COMMUNITY1 ON ! GR\ND ( ITS USE ( T5 ?\S& ACRES ( HIS PROP]TY1 T5 ?\S& TIMES AS MU* AS HE IS 9CAPABLE ( PRODUC+ FROM ONE ACRE8 ,:Y %\LD ! PRICE ( A LOAN BE GOV]N$ BY ! SKILL & /R5G? ( ! BORR[]1 RA!R ?AN BY ! UTILITY SACRIFIC$ BY ! PROPRIETOR8 ,WE MU/ RECOGNIZE1 !N1 ?IS SECOND ECONOMICAL LAW3 ,9CREASE IS MEASUR$ BY A FRACTION ( ! PROPRIETORS PRODUCTION4 

,N[1 ?IS PRODUCTION1 :AT IS IT8 ,9 O!R WORDS1 ,:AT CAN ! LORD & MA/] ( A PIECE ( L& JU/LY CLAIM TO HAVE SACRIFIC$ 9 L5D+ IT TO A T5ANT8 

,! PRODUCTIVE CAPACITY ( A PROPRIETOR1 LIKE ?AT ( ANY LABOR]1 BE+ ONE1 ! PRODUCT :I* HE SACRIFICES 9 SURR5D]+ HIS L& IS ALSO ONE4 ,IF1 !N1 ! RATE ( 9CREASE IS T5 P]C5T1 ! MAXIMUM 9CREASE IS 4#a4 

,BUT WE HAVE SE5 ?AT1 :5EV] A PROPRIETOR )DRAWS FROM PRODUCTION1 ! AM\NT ( PRODUCTS IS LESS5$ BY #a4 ,!N ! 9CREASE :I* ACCRUES TO HIM1 BE+ EQUAL TO 4#a :ILE HE REMA9S AMONG ! LABOR]S1 WILL BE EQUAL AFT] HIS )DRAWAL1 BY ! LAW ( ! DECREASE ( F>M-R5T1 TO 4#i4 ,?US WE >E L$ TO ?IS F9AL =MULA3 ,! MAXIMUM 9COME ( A PROPRIETOR IS EQUAL TO ! SQU>E ROOT ( ! PRODUCT ( ONE LABOR] 7SOME NUMB] BE+ AGRE$ UPON TO EXPRESS ?IS PRODUCT74 ,! DIM9UTION :I* ?IS 9COME SUFF]S1 IF ! PROPRIETOR IS IDLE1 IS EQUAL TO A FRACTION :OSE NUM]ATOR IS #a1 & :OSE D5OM9ATOR IS ! NUMB] :I* EXPRESSES ! PRODUCT4 

,?US ! MAXIMUM 9COME ( AN IDLE PROPRIETOR1 OR ( ONE :O LABORS 9 HIS [N BEHALF \TSIDE ( ! COMMUNITY1 FIGUR$ AT T5 P]C5T ON AN AV]AGE PRODUCTION ( ONE ?\S& FRANCS P] LABOR]1 W\LD BE N9ETY FRANCS4 ,IF1 !N1 !RE >E 9 ,FRANCE ONE MILLION PROPRIETORS ) AN 9COME ( ONE ?\S& FRANCS EA*1 :I* !Y CONSUME UNPRODUCTIVELY1 9/EAD ( ! ONE ?\S& MILLIONS :I* >E PAID !M ANNUALLY1 !Y >E 5TITL$ 9 /RICT JU/ICE1 & BY ! MO/ ACCURATE CALCULATION1 TO N9ETY MILLIONS ONLY4 

,IT IS SOME?+ ( A R$UCTION1 TO TAKE N9E HUNDR$ & T5 MILLIONS FROM ! BURD5S :I* WEI< SO HEAVILY UPON ! LABOR+ CLASS6 ,NEV]!LESS1 ! ACC\NT IS NOT F9I%$1 & ! LABOR] IS /ILL IGNORANT ( ! FULL EXT5T ( HIS RI<TS4 

,:AT IS ! RI<T ( 9CREASE :5 CONF9$ )9 JU/ LIMITS8 ,A RECOGNITION ( ! RI<T ( OCCUPANCY4 ,BUT S9CE ALL HAVE AN EQUAL RI<T ( OCCUPANCY1 EV]Y MAN IS BY ! SAME TITLE A PROPRIETOR4 ,EV]Y MAN HAS A RI<T TO AN 9COME EQUAL TO A FRACTION ( HIS PRODUCT4 ,IF1 !N1 ! LABOR] IS OBLIG$ BY ! RI<T ( PROP]TY TO PAY A R5T TO ! PROPRIETOR1 ! PROPRIETOR IS OBLIG$ BY ! SAME RI<T TO PAY ! SAME AM\NT ( R5T TO ! LABOR]2 &1 S9CE !IR RI<TS BALANCE EA* O!R1 ! DIFF]5CE BETWE5 !M IS Z]O4 

,S*OLIUM4 -- ,IF F>M-R5T IS ONLY A FRACTION ( ! SUPPOS$ PRODUCT ( ! PROPRIETOR1 :ATEV] ! AM\NT & VALUE ( ! PROP]TY1 ! SAME IS TRUE 9 ! CASE ( A L>GE NUMB] ( SMALL & DI/9CT PROPRIETORS4 ,=1 AL?\< ONE MAN MAY USE ! PROP]TY ( EA* SEP>ATELY1 HE CANNOT USE ! PROP]TY ( ALL AT ! SAME TIME4 

,TO SUM UP4 ,! RI<T ( 9CREASE1 :I* CAN EXI/ ONLY )9 V]Y N>R[ LIMITS1 DEF9$ BY ! LAWS ( PRODUCTION1 IS ANNIHILAT$ BY ! RI<T ( OCCUPANCY4 ,N[1 )\T ! RI<T ( 9CREASE1 !RE IS NO PROP]TY4 ,!N PROP]TY IS IMPOSSIBLE4 

,F\R? ,PROPOSITION4 ,PROP]TY IS IMPOSSIBLE1 BECAUSE IT IS ,HOMICIDE4 

,IF ! RI<T ( 9CREASE C\LD BE SUBJECT$ TO ! LAWS ( REASON & JU/ICE1 IT W\LD BE R$UC$ TO AN 9DEMNITY OR REW>D :OSE MAXIMUM NEV] C\LD EXCE$1 = A S+LE LABOR]1 A C]TA9 FRACTION ( ?AT :I* HE IS CAPABLE ( PRODUC+4 ,?IS WE HAVE JU/ %[N4 ,BUT :Y %\LD ! RI<T ( 9CREASE -- LET US NOT FE> TO CALL IT BY ITS RI<T NAME1 ! RI<T ( ROBB]Y -- BE GOV]N$ BY REASON1 ) :I* IT HAS NO?+ 9 COMMON8 ,! PROPRIETOR IS NOT CONT5T ) ! 9CREASE ALLOTT$ HIM BY GOOD S5SE & ! NATURE ( ?+S3 HE DEM&S T5 TIMES1 A HUNDR$ TIMES1 A ?\S& TIMES1 A MILLION TIMES AS MU*4 ,BY HIS [N LABOR1 HIS PROP]TY W\LD YIELD HIM A PRODUCT EQUAL ONLY TO ONE2 & HE DEM&S ( SOCIETY1 NO LONG] A RI<T PROPORTIONAL TO HIS PRODUCTIVE CAPACITY1 BUT A P] CAPITA TAX4 ,HE TAXES HIS FELL[S 9 PROPORTION TO !IR /R5G?1 !IR NUMB]1 & !IR 9DU/RY4 ,A SON IS BORN TO A F>M]4 0,GOOD60 SAYS ! PROPRIETOR2 0ONE MORE *ANCE = 9CREASE60 ,BY :AT PROCESS HAS F>M-R5T BE5 ?US *ANG$ 9TO A POLL-TAX8 ,:Y HAVE \R JURI/S & \R !OLOGIANS FAIL$1 ) ALL !IR %REWDNESS1 TO *ECK ! EXT5SION ( ! RI<T ( 9CREASE8 

,! PROPRIETOR1 HAV+ E/IMAT$ FROM HIS [N PRODUCTIVE CAPACITY ! NUMB] ( LABOR]S :I* HIS PROP]TY WILL ACCOMMODATE1 DIVIDES IT 9TO AS MANY PORTIONS1 & SAYS3 0,EA* ONE %ALL YIELD ME REV5UE40 ,TO 9CREASE HIS 9COME1 HE HAS ONLY TO DIVIDE HIS PROP]TY4 ,9/EAD ( RECKON+ ! 9T]E/ DUE HIM ON HIS LABOR1 HE RECKONS IT ON HIS CAPITAL2 &1 BY ?IS SUB/ITUTION1 ! SAME PROP]TY1 :I* 9 ! H&S ( ITS [N] IS CAPABLE ( YIELD+ ONLY ONE1 IS WOR? TO HIM T51 A HUNDR$1 A ?\S&1 A MILLION4 ,CONSEQU5TLY1 HE HAS ONLY TO HOLD HIMSELF 9 READ9ESS TO REGI/] ! NAMES ( ! LABOR]S :O APPLY TO HIM -- HIS TASK CONSI/S 9 DRAFT+ LEASES & RECEIPTS4 

,NOT SATISFI$ ) ! LI<TNESS ( HIS DUTIES1 ! PROPRIETOR DOES NOT 9T5D TO BE> EV5 ! DEFICIT RESULT+ FROM HIS IDL5ESS2 HE ?R[S IT UPON ! %\LD]S ( ! PRODUC]1 ( :OM HE ALWAYS DEM&S ! SAME REW>D4 ,:5 ! F>M-R5T ( A PIECE ( L& IS ONCE RAIS$ TO ITS HI<E/ PO9T1 ! PROPRIETOR NEV] L[]S IT2 HI< PRICES1 ! SC>CITY ( LABOR1 ! DISADVANTAGES ( ! SEASON1 EV5 PE/IL5CE ITSELF1 HAVE NO EFFECT UPON HIM -- :Y %\LD HE SUFF] FROM H>D TIMES :5 HE DOES NOT LABOR8 

,H]E COMM5CES A NEW S]IES ( PH5OM5A4 

,SAY -- :O REASONS ) M>VEL\S CLE>NESS :5EV] HE ASSAILS TAXATION1 BUT :O IS BL9D TO ! FACT ?AT ! PROPRIETOR1 AS WELL AS ! TAX-GA!R]1 /EALS FROM ! T5ANT1 & 9 ! SAME MANN] -- SAYS 9 HIS SECOND LETT] TO ,MAL?US3 -- 

0,IF ! COLLECTOR ( TAXES & ?OSE :O EMPLOY HIM CONSUME ONE-SIX? ( ! PRODUCTS1 !Y !REBY COMPEL ! PRODUC]S TO FE$1 CLO!1 & SUPPORT !MSELVES ON FIVE-SIX?S ( :AT !Y PRODUCE4 ,!Y ADMIT ?IS1 BUT SAY AT ! SAME TIME ?AT IT IS POSSIBLE = EA* ONE TO LIVE ON FIVE-SIX?S ( :AT HE PRODUCES4 ,I ADMIT ?AT1 IF !Y 9SI/ UPON IT2 BUT ,I ASK IF !Y BELIEVE ?AT ! PRODUC] W\LD LIVE AS WELL1 9 CASE !Y DEM&$ ( HIM1 9/EAD ( ONE-SIX?1 TWO-SIX?S1 OR ONE-?IRD1 ( !IR PRODUCTS8 ,NO2 BUT HE W\LD /ILL LIVE4 ,!N ,I ASK :E!R HE W\LD /ILL LIVE1 9 CASE !Y %\LD ROB HIM ( TWO-?IRDS1 444 !N ?REE-QU>T]S8 ,BUT ,I HE> NO REPLY40 

,IF ! MA/] ( ! ,FR5* ECONOMI/S HAD BE5 LESS BL9D$ BY HIS PROPRIET>Y PREJUDICES1 HE W\LD HAVE SE5 ?AT F>M-R5T HAS PRECISELY ! SAME EFFECT4 

,TAKE A FAMILY ( PEASANTS COMPOS$ ( SIX P]SONS1 -- FA!R1 MO!R1 & F\R *ILDR51 -- LIV+ 9 ! C\NTRY1 & CULTIVAT+ A SMALL PIECE ( GR\ND4 ,LET US SUPPOSE ?AT BY H>D LABOR !Y MANAGE1 AS ! SAY+ IS1 TO MAKE BO? 5DS MEET2 ?AT1 HAV+ LODG$1 W>M$1 CLO!D1 & F$ !MSELVES1 !Y >E CLE> ( DEBT1 BUT HAVE LAID UP NO?+4 ,TAK+ ! YE>S TOGE!R1 !Y CONTRIVE TO LIVE4 ,IF ! YE> IS PROSP]\S1 ! FA!R DR9KS A LITTLE MORE W9E1 ! DAU<T]S BUY !MSELVES A DRESS1 ! SONS A HAT2 !Y EAT A LITTLE *EESE1 &1 OCCASIONALLY1 SOME MEAT4 ,I SAY ?AT !SE PEOPLE >E ON ! ROAD TO WRECK & RU94 

,=1 BY ! ?IRD COROLL>Y ( \R AXIOM1 !Y [E TO !MSELVES ! 9T]E/ ON !IR [N CAPITAL4 ,E/IMAT+ ?IS CAPITAL AT ONLY EI<T ?\S& FRANCS AT TWO & A HALF P]C5T1 !RE IS AN ANNUAL 9T]E/ ( TWO HUNDR$ FRANCS TO BE PAID4 ,IF1 !N1 !SE TWO HUNDR$ FRANCS1 9/EAD ( BE+ SUBTRACT$ FROM ! GROSS PRODUCT TO BE SAV$ & CAPITALIZ$1 >E CONSUM$1 !RE IS AN ANNUAL DEFICIT ( TWO HUNDR$ FRANCS 9 ! FAMILY ASSETS2 SO ?AT AT ! 5D ( =TY YE>S !SE GOOD PEOPLE1 )\T SUSPECT+ IT1 WILL HAVE EAT5 UP !IR PROP]TY & BECOME BANKRUPT6 

,?IS RESULT SEEMS RIDICUL\S -- IT IS A SAD REALITY4 

,! CONSCRIPTION COMES4 ,:AT IS ! CONSCRIPTION8 ,AN ACT ( PROP]TY EX]CIS$ OV] FAMILIES BY ! GOV]NM5T )\T W>N+ -- A ROBB]Y ( M5 & MONEY4 ,! PEASANTS DO NOT LIKE TO P>T ) !IR SONS1 -- 9 ?AT ,I DO NOT ?9K !M WRONG4 ,IT IS H>D = A Y\NG MAN ( TW5TY TO GA9 ANY ?+ BY LIFE 9 ! B>RACKS2 UNLESS HE IS DEPRAV$1 HE DETE/S IT4 ,Y\ CAN G5]ALLY JUDGE ( A SOLDI]'S MORALITY BY HIS HATR$ ( HIS UNI=M4 ,UN=TUNATE WRET*ES OR WOR?LESS SCAMPS1 -- SU* IS ! MAKE-UP ( ! ,FR5* >MY4 ,?IS \<T NOT TO BE ! CASE1 -- BUT SO IT IS4 ,QUE/ION A HUNDR$ ?\S& M51 & NOT ONE WILL CONTRADICT MY ASS]TION4 

,\R PEASANT1 9 R$EEM+ HIS TWO CONSCRIPT$ SONS1 EXP5DS F\R ?\S& FRANCS1 :I* HE BORR[S = ?AT PURPOSE2 ! 9T]E/ ON ?IS1 AT FIVE P]C5T1 IS TWO HUNDR$ FRANCS2 -- A SUM EQUAL TO ?AT REF]R$ TO ABOVE4 ,IF1 UP TO ?IS TIME1 ! PRODUCTION ( ! FAMILY1 CON/ANTLY BALANC$ BY ITS CONSUMPTION1 HAS BE5 ONE ?\S& TWO HUNDR$ FRANCS1 OR TWO HUNDR$ FRANCS P] P]SONS -- 9 ORD] TO PAY ?IS 9T]E/1 EI!R ! SIX LABOR]S MU/ PRODUCE AS MU* AS SEV51 OR MU/ CONSUME AS LITTLE AS FIVE4 ,CURTAIL CONSUMPTION !Y CANNOT -- H[ CAN !Y CURTAIL NECESSITY8 ,TO PRODUCE MORE IS IMPOSSIBLE2 !Y CAN WORK NEI!R H>D] NOR LONG]4 ,%ALL !Y TAKE A MIDDLE C\RSE1 & CONSUME FIVE & A HALF :ILE PRODUC+ SIX & A HALF8 ,!Y W\LD SOON F9D ?AT ) ! /OMA* !RE IS NO COMPROMISE -- ?AT BEYOND A C]TA9 DEGREE ( AB/95CE IT IS IMPOSSIBLE TO GO -- ?AT /RICT NECESSITY CAN BE CURTAIL$ BUT LITTLE )\T 9JURY TO ! HEAL?2 &1 AS = 9CREAS+ ! PRODUCT1 -- !RE COMES A /ORM1 A DR\<T1 AN EPIZOOTIC1 & ALL ! HOPES ( ! F>M] >E DA%$4 ,9 %ORT1 ! R5T WILL NOT BE PAID1 ! 9T]E/ WILL ACCUMULATE1 ! F>M WILL BE SEIZ$1 & ! POSSESSOR EJECT$4 

,?US A FAMILY1 :I* LIV$ 9 PROSP]ITY :ILE IT AB/A9$ FROM EX]CIS+ ! RI<T ( PROP]TY1 FALLS 9TO MIS]Y AS SOON AS ! EX]CISE ( ?IS RI<T BECOMES A NECESSITY4 ,PROP]TY REQUIRES ( ! HUSB&MAN ! D\BLE P[] ( 5L>G+ HIS L&1 & F]TILIZ+ IT BY A SIMPLE COMM&4 ,:ILE A MAN IS SIMPLY POSSESSOR ( ! L&1 HE F9DS 9 IT MEANS ( SUBSI/5CE2 AS SOON AS HE PRET5DS TO PROPRIETOR%IP1 IT SUFFICES HIM NO LONG]4 ,BE+ ABLE TO PRODUCE ONLY ?AT :I* HE CONSUMES1 ! FRUIT ( HIS LABOR IS HIS RECOMP5SE = HIS TR\BLE -- NO?+ IS LEFT = ! 9/RUM5T4 

,REQUIR$ TO PAY :AT HE CANNOT PRODUCE1 -- SU* IS ! CONDITION ( ! T5ANT AFT] ! PROPRIETOR HAS RETIR$ FROM SOCIAL PRODUCTION 9 ORD] TO SPECULATE UPON ! LABOR ( O!RS BY NEW ME?ODS4 

,LET US N[ RETURN TO \R FIR/ HYPO!SIS4 

,! N9E HUNDR$ LABOR]S1 SURE ?AT !IR FUTURE PRODUCTION WILL EQUAL ?AT ( ! PA/1 >E QUITE SURPRIS$1 AFT] PAY+ !IR F>M-R5T1 TO F9D !MSELVES POOR] BY ONE-T5? ?AN !Y W]E ! PREVI\S YE>4 ,9 FACT1 ?IS T5? -- :I* WAS =M]LY PRODUC$ & PAID BY ! PROPRIETOR-LABOR] :O !N TOOK P>T 9 ! PRODUCTION1 & PAID P>T ( ! -- PUBLIC EXP5SES -- N[ HAS NOT BE5 PRODUC$1 & HAS BE5 PAID4 ,IT MU/ !N HAVE BE5 TAK5 FROM ! PRODUC]'S CONSUMPTION4 ,TO *OKE ?IS 9EXPLICABLE DEFICIT1 ! LABOR] BORR[S1 CONFID5T ( HIS 9T5TION & ABILITY TO RETURN1 -- A CONFID5CE :I* IS %AK5 ! FOLL[+ YE> BY A NEW LOAN1 PLUS ! 9T]E/ ON ! FIR/4 ,FROM :OM DOES HE BORR[8 ,FROM ! PROPRIETOR4 ,! PROPRIETOR L5DS HIS SURPLUS TO ! LABOR]2 & ?IS SURPLUS1 :I* HE \<T TO RETURN1 BECOMES -- BE+ L5T AT 9T]E/ -- A NEW S\RCE ( PR(IT TO HIM4 ,!N DEBTS 9CREASE 9DEF9ITELY2 ! PROPRIETOR MAKES ADVANCES TO ! PRODUC] :O NEV] RETURNS !M2 & ! LATT]1 CON/ANTLY ROBB$ & CON/ANTLY BORR[+ FROM ! ROBB]S1 5DS 9 BANKRUPTCY1 DEFRAUD$ ( ALL ?AT HE HAD4 

,SUPPOSE ?AT ! PROPRIETOR -- :O NE$S HIS T5ANT TO FURNI% HIM ) AN 9COME -- !N RELEASES HIM FROM HIS DEBTS4 ,HE WILL ?US DO A V]Y B5EVOL5T DE$1 :I* WILL PROCURE = HIM A RECOMM5DATION 9 ! CURATE'S PRAY]S2 :ILE ! POOR T5ANT1 OV]:ELM$ BY ?IS UN/9T$ *>ITY1 & TAU<T BY HIS CATE*ISM TO PRAY = HIS B5EFACTORS1 WILL PROMISE TO R$\BLE HIS 5]GY1 & SUFF] NEW H>D%IPS ?AT HE MAY DIS*>GE HIS DEBT TO SO K9D A MA/]4 

,?IS TIME HE TAKES PRECAUTION>Y MEASURES2 HE RAISES ! PRICE ( GRA9S4 ,! MANUFACTUR] DOES ! SAME ) HIS PRODUCTS4 ,! REACTION COMES1 &1 AFT] SOME FLUCTUATION1 ! F>M-R5T -- :I* ! T5ANT ?\<T TO PUT UPON ! MANUFACTUR]'S %\LD]S -- BECOMES NE>LY BALANC$4 ,SO ?AT1 :ILE HE IS CONGRATULAT+ HIMSELF UPON HIS SUCCESS1 HE F9DS HIMSELF AGA9 IMPOV]I%$1 BUT TO AN EXT5T SOME:AT SMALL] ?AN BE=E4 ,= ! RISE HAV+ BE5 G5]AL1 ! PROPRIETOR SUFF]S ) ! RE/2 SO ?AT ! LABOR]S1 9/EAD ( BE+ POOR] BY ONE-T5?1 LOSE ONLY N9E-HUNDR$?S4 ,BUT ALWAYS IT IS A DEBT :I* NECESSITATES A LOAN1 ! PAYM5T ( 9T]E/1 ECONOMY1 & FA/+4 ,FA/+ = ! N9E-HUNDR$?S :I* \<T NOT TO BE PAID1 & >E PAID2 FA/+ = ! R$EMPTION ( DEBTS2 FA/+ TO PAY ! 9T]E/ ON !M4 ,LET ! CROP FAIL1 & ! FA/+ BECOMES />VATION4 ,!Y SAY1 0,IT IS NECESS>Y TO WORK MORE40 ,?AT MEANS1 OBVI\SLY1 ?AT IT IS NECESS>Y TO PRODUCE MORE4 ,BY :AT CONDITIONS IS PRODUCTION EFFECT$8 ,BY ! COMB9$ ACTION ( LABOR1 CAPITAL1 & L&4 ,AS = ! LABOR1 ! T5ANT UND]TAKES TO FURNI% IT2 BUT CAPITAL IS =M$ ONLY BY ECONOMY4 ,N[1 IF ! T5ANT C\LD ACCUMULATE ANY ?+1 HE W\LD PAY HIS DEBTS4 ,BUT GRANT+ ?AT HE HAS PL5TY ( CAPITAL1 ( :AT USE W\LD IT BE TO HIM IF ! EXT5T ( ! L& :I* HE CULTIVATES ALWAYS REMA9$ ! SAME8 ,HE NE$S TO 5L>GE HIS F>M4 

,WILL IT BE SAID1 F9ALLY1 ?AT HE MU/ WORK H>D] & TO BETT] ADVANTAGE8 ,BUT1 9 \R E/IMATION ( F>M-R5T1 WE HAVE ASSUM$ ! HI<E/ POSSIBLE AV]AGE ( PRODUCTION4 ,W]E IT NOT ! HI<E/1 ! PROPRIETOR W\LD 9CREASE ! F>M-R5T4 ,IS NOT ?IS ! WAY 9 :I* ! L>GE L&$ PROPRIETORS HAVE GRADUALLY RAIS$ !IR R5TS1 AS FA/ AS !Y HAVE ASC]TA9$ BY ! 9CREASE 9 POPULATION & ! DEVELOPM5T ( 9DU/RY H[ MU* SOCIETY CAN PRODUCE FROM !IR PROP]TY8 ,! PROPRIETOR IS A =EIGN] TO SOCIETY2 BUT1 LIKE ! VULTURE1 HIS EYES FIX$ UPON HIS PREY1 HE HOLDS HIMSELF READY TO P\NCE UPON & DEV\R IT4 

,! FACTS TO :I* WE HAVE CALL$ ATT5TION1 9 A COMMUNITY ( ONE ?\S& P]SONS1 >E REPRODUC$ ON A L>GE SCALE 9 EV]Y NATION & :]EV] HUMAN BE+S LIVE1 BUT ) 9F9ITE V>IATIONS & 9 9NUM]ABLE =MS1 :I* IT IS NO P>T ( MY 9T5TION TO DESCRIBE4 

,9 F9E1 PROP]TY -- AFT] HAV+ ROBB$ ! LABOR] BY USURY -- MURD]S HIM SL[LY BY />VATION4 ,N[1 )\T ROBB]Y & MURD]1 PROP]TY CANNOT EXI/2 ) ROBB]Y & MURD]1 IT SOON DIES = WANT ( SUPPORT4 ,!RE=E IT IS IMPOSSIBLE4 

,FIF? ,PROPOSITION4 ,PROP]TY IS IMPOSSIBLE1 BECAUSE1 IF IT EXI/S1 ,SOCIETY DEV\RS ITSELF4 

,:5 ! ASS IS TOO HEAVILY LOAD$1 HE LIES D[N2 MAN ALWAYS MOVES ON4 ,UPON ?IS 9DOMITABLE C\RAGE1 ! PROPRIETOR -- WELL KN[+ ?AT IT EXI/S -- BASES HIS HOPES ( SPECULATION4 ,! FREE LABOR] PRODUCES T52 = ME1 ?9KS ! PROPRIETOR1 HE WILL PRODUCE TWELVE4 

,9DE$1 -- BE=E CONS5T+ TO ! CONFISCATION ( HIS FIELDS1 BE=E BIDD+ F>EWELL TO ! PAT]NAL RO(1 -- ! PEASANT1 :OSE /ORY WE HAVE JU/ TOLD1 MAKES A DESP]ATE EF=T2 HE LEASES NEW L&2 HE WILL S[ ONE-?IRD MORE2 &1 TAK+ HALF ( ?IS NEW PRODUCT = HIMSELF1 HE WILL H>VE/ AN ADDITIONAL SIX?1 & !REBY PAY HIS R5T4 ,:AT AN EVIL6 ,TO ADD ONE-SIX? TO HIS PRODUCTION1 ! F>M] MU/ ADD1 NOT ONE-SIX?1 BUT TWO-SIX?S TO HIS LABOR4 ,AT SU* A PRICE1 HE PAYS A F>M-R5T :I* 9 ,GOD'S EYES HE DOES NOT [E4 

,! T5ANT'S EXAMPLE IS FOLL[$ BY ! MANUFACTUR]4 ,! =M] TILLS MORE L&1 & DISPOSSESSES HIS NEI<BORS2 ! LATT] L[]S ! PRICE ( HIS M]*&ISE1 & 5DEAVORS TO MONOPOLIZE ITS MANUFACTURE & SALE1 & TO CRU% \T HIS COMPETITORS4 ,TO SATISFY PROP]TY1 ! LABOR] MU/ FIR/ PRODUCE BEYOND HIS NE$S4 ,!N1 HE MU/ PRODUCE BEYOND HIS /R5G?2 =1 BY ! )DRAWAL ( LABOR]S :O BECOME PROPRIETORS1 ! ONE ALWAYS FOLL[S FROM ! O!R4 ,BUT TO PRODUCE BEYOND HIS /R5G? & NE$S1 HE MU/ 9VADE ! PRODUCTION ( ANO!R1 & CONSEQU5TLY DIM9I% ! NUMB] ( PRODUC]S4 ,?US ! PROPRIETOR -- AFT] HAV+ LESS5$ PRODUCTION BY /EPP+ \TSIDE -- LESS5S IT /ILL FUR!R BY 5C\RAG+ ! MONOPOLY ( LABOR4 ,LET US CALCULATE IT4 

,! LABOR]'S DEFICIT1 AFT] PAY+ HIS R5T1 BE+1 AS WE HAVE SE51 ONE-T5?1 HE TRIES TO 9CREASE HIS PRODUCTION BY ?IS AM\NT4 ,HE SEES NO WAY ( ACCOMPLI%+ ?IS SAVE BY 9CREAS+ HIS LABOR3 ?IS ALSO HE DOES4 ,! DISCONT5T ( ! PROPRIETORS :O HAVE NOT RECEIV$ ! FULL AM\NT ( !IR R5T2 ! ADVANTAGE\S (F]S & PROMISES MADE !M BY O!R F>M]S1 :OM !Y SUPPOSE MORE DILIG5T1 MORE 9DU/RI\S1 & MORE RELIABLE2 ! SECRET PLOTS & 9TRIGUES1 -- ALL !SE GIVE RISE TO A MOVEM5T = ! RE-DIVISION ( LABOR1 & ! ELIM9ATION ( A C]TA9 NUMB] ( PRODUC]S4 ,\T ( N9E HUNDR$1 N9ETY WILL BE EJECT$1 ?AT ! PRODUCTION ( ! O!RS MAY BE 9CREAS$ ONE-T5?4 ,BUT WILL ! TOTAL PRODUCT BE 9CREAS$8 ,NOT 9 ! LEA/3 !RE WILL BE EI<T HUNDR$ & T5 LABOR]S PRODUC+ AS N9E HUNDR$1 :ILE1 TO ACCOMPLI% !IR PURPOSE1 !Y W\LD HAVE TO PRODUCE AS ONE ?\S&4 ,N[1 IT HAV+ BE5 PROV$ ?AT F>M-R5T IS PROPORTIONAL TO ! L&$ CAPITAL 9/EAD ( TO LABOR1 & ?AT IT NEV] DIM9I%ES1 ! DEBTS MU/ CONT9UE AS 9 ! PA/1 :ILE ! LABOR HAS 9CREAS$4 ,H]E1 !N1 WE HAVE A SOCIETY :I* IS CONT9UALLY DECIMAT+ ITSELF1 & :I* W\LD DE/ROY ITSELF1 DID NOT ! P]IODICAL OCCURR5CE ( FAILURES1 BANKRUPTCIES1 & POLITICAL & ECONOMICAL CATA/ROPHES REE/ABLI% EQUILIBRIUM1 & DI/RACT ATT5TION FROM ! REAL CAUSES ( ! UNIV]SAL DI/RESS4 

,! MONOPOLY ( L& & CAPITAL IS FOLL[$ BY ECONOMICAL PROCESSES :I* ALSO RESULT 9 ?R[+ LABOR]S \T ( EMPLOYM5T4 ,9T]E/ BE+ A CON/ANT BURD5 UPON ! %\LD]S ( ! F>M] & ! MANUFACTUR]1 !Y EXCLAIM1 EA* SPEAK+ = HIMSELF1 0,I %\LD HAVE ! MEANS :]E) TO PAY MY R5T & 9T]E/1 HAD ,I NOT TO PAY SO MANY H&S40 ,!N ?OSE ADMIRABLE 9V5TIONS1 9T5D$ TO ASSURE ! EASY & SPE$Y P]=MANCE ( LABOR1 BECOME SO MANY 9F]NAL MA*9ES :I* KILL LABOR]S BY ?\S&S4 

0,A FEW YE>S AGO1 ! ,C\NTESS ( ,/RAF=D EJECT$ FIFTE5 ?\S& P]SONS FROM H] E/ATE1 :O1 AS T5ANTS1 ADD$ TO ITS VALUE4 ,?IS ACT ( PRIVATE ADM9I/RATION WAS REPEAT$ 9 #a#h#b1 BY ANO!R L>GE ,SCOT* PROPRIETOR1 T[>DS SIX HUNDR$ T5ANTS & !IR FAMILIES40 -- ,TISSOT3 ON ,SUICIDE & ,REVOLT4 

,! AU?OR :OM ,I QUOTE1 & :O HAS WRITT5 ELOQU5T WORDS CONC]N+ ! REVOLUTION>Y SPIRIT :I* PREVAILS 9 MOD]N SOCIETY1 DOES NOT SAY :E!R HE W\LD HAVE DISAPPROV$ ( A REVOLT ON ! P>T ( !SE EXILES4 ,= MYSELF1 ,I AV[ BOLDLY ?AT 9 MY EYES IT W\LD HAVE BE5 ! FIR/ ( RI<TS1 & ! HOLIE/ ( DUTIES2 & ALL ?AT ,I DESIRE TO-DAY IS ?AT MY PR(ESSION ( FAI? BE UND]/OOD4 

,SOCIETY DEV\RS ITSELF1 -- #a4 ,BY ! VIOL5T & P]IODICAL SACRIFICE ( LABOR]S3 ?IS WE HAVE JU/ SE51 & %ALL SEE AGA92 #b4 ,BY ! /OPPAGE ( ! PRODUC]'S CONSUMPTION CAUS$ BY PROP]TY4 ,!SE TWO MODES ( SUICIDE >E AT FIR/ SIMULTANE\S2 BUT SOON ! FIR/ IS GIV5 ADDITIONAL =CE BY ! SECOND1 FAM9E UNIT+ ) USURY TO R5D] LABOR AT ONCE MORE NECESS>Y & MORE SC>CE4 

,BY ! PR9CIPLES ( COMM]CE & POLITICAL ECONOMY1 ?AT AN 9DU/RIAL 5T]PRISE MAY BE SUCCESSFUL1 ITS PRODUCT MU/ FURNI%1 -- #a4 ,! 9T]E/ ON ! CAPITAL EMPLOY$2 #b4 ,MEANS = ! PRES]VATION ( ?IS CAPITAL2 #c4 ,! WAGES ( ALL ! EMPLOYES & CONTRACTORS4 ,FUR!R1 AS L>GE A PR(IT AS POSSIBLE MU/ BE REALIZ$4 

,! F9ANCIAL %REWDNESS & RAPACITY ( PROP]TY IS WOR?Y ( ADMIRATION4 ,EA* DIFF]5T NAME :I* 9CREASE TAKES AF=DS ! PROPRIETOR AN OPPORTUNITY TO RECEIVE IT1 -- #a4 ,9 ! =M ( 9T]E/2 #b4 ,9 ! =M ( PR(IT4 ,=1 IT SAYS1 A P>T ( ! 9COME D]IV$ FROM MANUFACTURES CONSI/S ( 9T]E/ ON ! CAPITAL EMPLOY$4 ,IF ONE HUNDR$ ?\S& FRANCS HAVE BE5 9VE/$ 9 A MANUFACTUR+ 5T]PRISE1 & 9 A YE>'S TIME FIVE ?\S& FRANCS HAVE BE5 RECEIV$ !REFROM 9 ADDITION TO ! EXP5SES1 !RE HAS BE5 NO PR(IT1 BUT ONLY 9T]E/ ON ! CAPITAL4 ,N[1 ! PROPRIETOR IS NOT A MAN TO LABOR = NO?+4 ,LIKE ! LION 9 ! FABLE1 HE GETS PAID 9 EA* ( HIS CAPACITIES2 SO ?AT1 AFT] HE HAS BE5 S]V$1 NO?+ IS LEFT = HIS ASSOCIATES4 

,EGO PRIMAM TOLLO1 NOM9OR QUIA LEO4  

,SECUNDAM QUIA SUM =TIS TRIBUCTIS MIHI4  

,TUM QUIA PLUS VALEO1 ME SEQUETUR T]TIA4  

,MALO ADFICIETUR1 SI QUIS QU>TAM TETIG]IT4 

,I KN[ NO?+ PRETTI] ?AN ?IS FABLE4 

0,I AM ! CONTRACTOR4 ,I TAKE ! FIR/ %>E4  

,I AM ! LABOR]1 ,I TAKE ! SECOND4  

,I AM ! CAPITALI/1 ,I TAKE ! ?IRD4  

,I AM ! PROPRIETOR1 ,I TAKE ! :OLE40 

,9 F\R L9ES1 ,PHA$RUS HAS SUMM$ UP ALL ! =MS ( PROP]TY4 

,I SAY ?AT ?IS 9T]E/1 ALL ! MORE !N ?IS PR(IT1 IS IMPOSSIBLE4 

,:AT >E LABOR]S 9 RELATION TO EA* O!R8 ,SO MANY MEMB]S ( A L>GE 9DU/RIAL SOCIETY1 TO EA* ( :OM IS ASSIGN$ A C]TA9 PORTION ( ! G5]AL PRODUCTION1 BY ! PR9CIPLE ( ! DIVISION ( LABOR & FUNCTIONS4 ,SUPPOSE1 FIR/1 ?AT ?IS SOCIETY IS COMPOS$ ( BUT ?REE 9DIVIDUALS1 -- A CATTLE-RAIS]1 A TANN]1 & A %OEMAK]4 ,! SOCIAL 9DU/RY1 !N1 IS ?AT ( %OEMAK+4 ,IF ,I %\LD ASK :AT \<T TO BE EA* PRODUC]'S %>E ( ! SOCIAL PRODUCT1 ! FIR/ S*OOLBOY :OM ,I %\LD MEET W\LD ANSW]1 BY A RULE ( COMM]CE & ASSOCIATION1 ?AT IT %\LD BE ONE-?IRD4 ,BUT IT IS NOT \R DUTY H]E TO BALANCE ! RI<TS ( LABOR]S CONV5TIONALLY ASSOCIAT$3 WE HAVE TO PROVE ?AT1 :E!R ASSOCIAT$ OR NOT1 \R ?REE WORK]S >E OBLIG$ TO ACT AS IF !Y W]E2 ?AT1 :E!R !Y WILL OR NO1 !Y >E ASSOCIAT$ BY ! =CE ( ?+S1 BY MA!MATICAL NECESSITY4 

,?REE PROCESSES >E REQUIR$ 9 ! MANUFACTURE ( %OES1 -- ! RE>+ ( CATTLE1 ! PREP>ATION ( !IR HIDES1 & ! CUTT+ & SEW+4 ,IF ! HIDE1 ON LEAV+ ! F>M]'S /ABLE1 IS WOR? ONE1 IT IS WOR? TWO ON LEAV+ ! TANN]'S PIT1 & ?REE ON LEAV+ ! %OEMAK]'S %OP4 ,EA* LABOR] HAS PRODUC$ A PORTION ( ! UTILITY2 SO ?AT1 BY ADD+ ALL !SE PORTIONS TOGE!R1 WE GET ! VALUE ( ! >TICLE4 ,TO OBTA9 ANY QUANTITY :ATEV] ( ?IS >TICLE1 EA* PRODUC] MU/ PAY1 !N1 FIR/ = HIS [N LABOR1 & SECOND = ! LABOR ( ! O!R PRODUC]S4 ,?US1 TO OBTA9 AS MANY %OES AS CAN BE MADE FROM T5 HIDES1 ! F>M] WILL GIVE ?IRTY RAW HIDES1 & ! TANN] TW5TY TANN$ HIDES4 ,=1 ! %OES ?AT >E MADE FROM T5 HIDES >E WOR? ?IRTY RAW HIDES1 9 CONSEQU5CE ( ! EXTRA LABOR BE/[$ UPON !M2 JU/ AS TW5TY TANN$ HIDES >E WOR? ?IRTY RAW HIDES1 ON ACC\NT ( ! TANN]'S LABOR4 ,BUT IF ! %OEMAK] DEM&S ?IRTY-?REE 9 ! F>M]'S PRODUCT1 OR TW5TY-TWO 9 ! TANN]'S1 = T5 9 HIS [N1 !RE WILL BE NO EX*ANGE2 =1 IF !RE W]E1 ! F>M] & ! TANN]1 AFT] HAV+ PAID ! %OEMAK] T5 = HIS LABOR1 W\LD HAVE TO PAY ELEV5 = ?AT :I* !Y HAD !MSELVES SOLD = T51 -- :I*1 ( C\RSE1 W\LD BE IMPOSSIBLE4.<#a#i.> 

,WELL1 ?IS IS PRECISELY :AT HAPP5S :5EV] AN EMOLUM5T ( ANY K9D IS RECEIV$2 BE IT CALL$ REV5UE1 F>M-R5T1 9T]E/1 OR PR(IT4 ,9 ! LITTLE COMMUNITY ( :I* WE >E SPEAK+1 IF ! %OEMAK] -- 9 ORD] TO PROCURE TOOLS1 BUY A /OCK ( LEA!R1 & SUPPORT HIMSELF UNTIL HE RECEIVES SOME?+ FROM HIS 9VE/M5T -- BORR[S MONEY AT 9T]E/1 IT IS CLE> ?AT TO PAY ?IS 9T]E/ HE WILL HAVE TO MAKE A PR(IT (F ! TANN] & ! F>M]4 ,BUT AS ?IS PR(IT IS IMPOSSIBLE UNLESS FRAUD IS US$1 ! 9T]E/ WILL FALL BACK UPON ! %\LD]S ( ! UN=TUNATE %OEMAK]1 & RU9 HIM4 

,I HAVE IMAG9$ A CASE ( UNNATURAL SIMPLICITY4 ,!RE IS NO HUMAN SOCIETY BUT SU/A9S MORE ?AN ?REE VOCATIONS4 ,! MO/ UNCIVILIZ$ SOCIETY SUPPORTS NUM]\S 9DU/RIES2 TO-DAY1 ! NUMB] ( 9DU/RIAL FUNCTIONS 7,I MEAN BY 9DU/RIAL FUNCTIONS ALL USEFUL FUNCTIONS7 EXCE$S1 P]HAPS1 A ?\S&4 ,H[EV] NUM]\S ! OCCUPATIONS1 ! ECONOMIC LAW REMA9S ! SAME1 -- ,?AT ! PRODUC] MAY LIVE1 HIS WAGES MU/ REPUR*ASE HIS PRODUCT4 

,! ECONOMI/S CANNOT BE IGNORANT ( ?IS RUDIM5T>Y PR9CIPLE ( !IR PRET5D$ SCI5CE3 :Y1 !N1 DO !Y SO OB/9ATELY DEF5D PROP]TY1 & 9EQUALITY ( WAGES1 & ! LEGITIMACY ( USURY1 & ! HONE/Y ( PR(IT1 -- ALL ( :I* CONTRADICT ! ECONOMIC LAW1 & MAKE EX*ANGE IMPOSSIBLE8 ,A CONTRACTOR PAYS ONE HUNDR$ ?\S& FRANCS = RAW MAT]IAL1 FIFTY ?\S& FRANCS 9 WAGES1 & !N EXPECTS TO RECEIVE A PRODUCT ( TWO HUNDR$ ?\S& FRANCS1 -- ?AT IS1 EXPECTS TO MAKE A PR(IT ON ! MAT]IAL & ON ! LABOR ( HIS EMPLOYES2 BUT IF ! LABOR]S & ! PURVEYOR ( ! MAT]IAL CANNOT1 ) !IR COMB9$ WAGES1 REPUR*ASE ?AT :I* !Y HAVE PRODUC$ = ! CONTRACTOR1 H[ CAN !Y LIVE8 ,I WILL DEVELOP MY QUE/ION4 ,H]E DETAILS BECOME NECESS>Y4 

,IF ! WORK+MAN RECEIVES = HIS LABOR AN AV]AGE ( ?REE FRANCS P] DAY1 HIS EMPLOY] 79 ORD] TO GA9 ANY ?+ BEYOND HIS [N SAL>Y1 IF ONLY 9T]E/ ON HIS CAPITAL7 MU/ SELL ! DAY'S LABOR ( HIS EMPLOYEE1 9 ! =M ( M]*&ISE1 = MORE ?AN ?REE FRANCS4 ,! WORK+MAN CANNOT1 !N1 REPUR*ASE ?AT :I* HE HAS PRODUC$ = HIS MA/]4 ,IT IS ?US ) ALL TRADES :ATSOEV]4 ,! TAILOR1 ! HATT]1 ! CAB9ET-MAK]1 ! BLACKSMI?1 ! TANN]1 ! MASON1 ! JEWEL]1 ! PR9T]1 ! CL]K1 @&C41 EV5 TO ! F>M] & W9E-GR[]1 CANNOT REPUR*ASE !IR PRODUCTS2 S9CE1 PRODUC+ = A MA/] :O 9 ONE =M OR ANO!R MAKES A PR(IT1 !Y >E OBLIG$ TO PAY MORE = !IR [N LABOR ?AN !Y GET = IT4 

,9 ,FRANCE1 TW5TY MILLIONS ( LABOR]S1 5GAG$ 9 ALL ! BRAN*ES ( SCI5CE1 >T1 & 9DU/RY1 PRODUCE EV]Y ?+ :I* IS USEFUL TO MAN4 ,!IR ANNUAL WAGES AM\NT1 IT IS E/IMAT$4 TO TW5TY ?\S& MILLIONS2 BUT1 9 CONSEQU5CE ( ! RI<T ( PROP]TY1 & ! MULTIF>I\S =MS ( 9CREASE1 PREMIUMS1 TI!S1 9T]E/S1 F9ES1 PR(ITS1 F>M-R5TS1 H\SE-R5TS1 REV5UES1 EMOLUM5TS ( EV]Y NATURE & DESCRIPTION1 !IR PRODUCTS >E E/IMAT$ BY ! PROPRIETORS & EMPLOY]S AT TW5TY-FIVE ?\S& MILLIONS4 ,:AT DOES ?AT SIGNIFY8 ,?AT ! LABOR]S1 :O >E OBLIG$ TO REPUR*ASE !SE PRODUCTS 9 ORD] TO LIVE1 MU/ EI!R PAY FIVE = ?AT :I* !Y PRODUC$ = F\R1 OR FA/ ONE DAY 9 FIVE4 

,IF !RE IS AN ECONOMI/ 9 ,FRANCE ABLE TO %[ ?AT ?IS CALCULATION IS FALSE1 ,I SUMMON HIM TO APPE>2 & ,I PROMISE TO RETRACT ALL ?AT ,I HAVE WRONGFULLY & WICK$LY UTT]$ 9 MY ATTACKS UPON PROP]TY4 

,LET US N[ LOOK AT ! RESULTS ( ?IS PR(IT4 

,IF ! WAGES ( ! WORK+M5 W]E ! SAME 9 ALL PURSUITS1 ! DEFICIT CAUS$ BY ! PROPRIETOR'S TAX W\LD BE FELT EQUALLY EV]Y:]E2 BUT ALSO ! CAUSE ( ! EVIL W\LD BE SO APP>5T1 ?AT IT W\LD SOON BE DISCOV]$ & SUPPRESS$4 ,BUT1 AS !RE IS ! SAME 9EQUALITY ( WAGES 7FROM ?AT ( ! SCAV5G] UP TO ?AT ( ! M9I/] ( /ATE7 AS ( PROP]TY1 ROBB]Y CONT9UALLY REB\NDS FROM ! /RONG] TO ! WEAK]2 SO ?AT1 S9CE ! LABOR] F9DS HIS H>D%IPS 9CREASE AS HE DESC5DS 9 ! SOCIAL SCALE1 ! L[E/ CLASS ( PEOPLE >E LIT]ALLY /RIPP$ NAK$ & EAT5 ALIVE BY ! O!RS4 

,! LABOR+ PEOPLE CAN BUY NEI!R ! CLO? :I* !Y WEAVE1 NOR ! FURNITURE :I* !Y MANUFACTURE1 NOR ! METAL :I* !Y =GE1 NOR ! JEWELS :I* !Y CUT1 NOR ! PR9TS :I* !Y 5GRAVE4 ,!Y CAN PROCURE NEI!R ! :EAT :I* !Y PLANT1 NOR ! W9E :I* !Y GR[1 NOR ! FLE% ( ! ANIMALS :I* !Y RAISE4 ,!Y >E ALL[$ NEI!R TO DWELL 9 ! H\SES :I* !Y BUILD1 NOR TO ATT5D ! PLAYS :I* !IR LABOR SUPPORTS1 NOR TO 5JOY ! RE/ :I* !IR BODY REQUIRES4 ,& :Y8 ,BECAUSE ! RI<T ( 9CREASE DOES NOT P]MIT !SE ?+S TO BE SOLD AT ! CO/-PRICE1 :I* IS ALL ?AT LABOR]S CAN AF=D TO PAY4 ,ON ! SIGNS ( ?OSE MAGNIFIC5T W>EH\SES :I* HE 9 HIS POV]TY ADMIRES1 ! LABOR] READS 9 L>GE LETT]S3 0,?IS IS ?Y WORK1 & ?\ %ALT NOT HAVE IT40 ,SIC VOS NON VOBIS6 

,EV]Y MANUFACTUR] :O EMPLOYS ONE ?\S& LABOR]S1 & GA9S FROM !M DAILY ONE S\ EA*1 IS SL[LY PU%+ !M 9TO A /ATE ( MIS]Y4 ,EV]Y MAN :O MAKES A PR(IT HAS 5T]$ 9TO A CONSPIRACY ) FAM9E4 ,BUT ! :OLE NATION HAS NOT EV5 ?IS LABOR1 BY MEANS ( :I* PROP]TY />VES IT4 ,& :Y8 ,BECAUSE ! WORK]S >E =C$ BY ! 9SUFFICI5CY ( !IR WAGES TO MONOPOLIZE LABOR2 & BECAUSE1 BE=E BE+ DE/ROY$ BY DE>?1 !Y DE/ROY EA* O!R BY COMPETITION4 ,LET US PURSUE ?IS TRU? NO FUR!R4 

,IF ! LABOR]'S WAGES WILL NOT PUR*ASE HIS PRODUCT1 IT FOLL[S ?AT ! PRODUCT IS NOT MADE = ! PRODUC]4 ,= :OM1 !N1 IS IT 9T5D$8 ,= ! RI*] CONSUM]2 ?AT IS1 = ONLY A FRACTION ( SOCIETY4 ,BUT :5 ! :OLE SOCIETY LABORS1 IT PRODUCES = ! :OLE SOCIETY4 ,IF1 !N1 ONLY A P>T ( SOCIETY CONSUMES1 SOON] OR LAT] A P>T ( SOCIETY WILL BE IDLE4 ,N[1 IDL5ESS IS DEA?1 AS WELL = ! LABOR] AS = ! PROPRIETOR4 ,?IS CONCLUSION IS 9EVITABLE4 

,! MO/ DI/RESS+ SPECTACLE IMAG9ABLE IS ! SI<T ( PRODUC]S RESI/+ & /RUGGL+ AGA9/ ?IS MA!MATICAL NECESSITY1 ?IS P[] ( FIGURES TO :I* !IR PREJUDICES BL9D !M4 

,IF ONE HUNDR$ ?\S& PR9T]S CAN FURNI% READ+-MATT] 5\< = ?IRTY-F\R MILLIONS ( M51 & IF ! PRICE ( BOOKS IS SO HI< ?AT ONLY ONE-?IRD ( ?AT NUMB] CAN AF=D TO BUY !M1 IT IS CLE> ?AT !SE ONE HUNDR$ ?\S& PR9T]S WILL PRODUCE ?REE TIMES AS MU* AS ! BOOKSELL]S CAN SELL4 ,?AT ! PRODUCTS ( ! LABOR]S MAY NEV] EXCE$ ! DEM&S ( ! CONSUM]S1 ! LABOR]S MU/ EI!R RE/ TWO DAYS \T ( ?REE1 OR1 SEP>AT+ 9TO ?REE GR\PS1 RELIEVE EA* O!R ?REE TIMES A WEEK1 MON?1 OR QU>T]2 ?AT IS1 DUR+ TWO-?IRDS ( !IR LIFE !Y MU/ NOT LIVE4 ,BUT 9DU/RY1 UND] ! 9FLU5CE ( PROP]TY1 DOES NOT PROCE$ ) SU* REGUL>ITY4 ,IT 5DEAVORS TO PRODUCE A GREAT DEAL 9 A %ORT TIME1 BECAUSE ! GREAT] ! AM\NT ( PRODUCTS1 & ! %ORT] ! TIME ( PRODUCTION1 ! LESS EA* PRODUCT CO/S4 ,AS SOON AS A DEM& BEG9S TO BE FELT1 ! FACTORIES FILL UP1 & EV]YBODY GOES TO WORK4 ,!N BUS9ESS IS LIVELY1 & BO? GOV]NORS & GOV]N$ REJOICE4 ,BUT ! MORE !Y WORK TO-DAY1 ! MORE IDLE WILL !Y BE H]EAFT]2 ! MORE !Y LAU<1 ! MORE !Y %ALL WEEP4 ,UND] ! RULE ( PROP]TY1 ! FL[]S ( 9DU/RY >E WOV5 9TO NONE BUT FUN]AL WREA?S4 ,! LABOR] DIGS HIS [N GRAVE4 

,IF ! FACTORY /OPS RUNN+1 ! MANUFACTUR] HAS TO PAY 9T]E/ ON HIS CAPITAL ! SAME AS BE=E4 ,HE NATURALLY TRIES1 !N1 TO CONT9UE PRODUCTION BY LESS5+ EXP5SES4 ,!N COMES ! L[]+ ( WAGES2 ! 9TRODUCTION ( MA*9]Y2 ! EMPLOYM5T ( WOM5 & *ILDR5 TO DO ! WORK ( M52 BAD WORKM51 & WRET*$ WORK4 ,!Y /ILL PRODUCE1 BECAUSE ! DECREAS$ CO/ CREATES A L>G] M>KET2 BUT !Y DO NOT PRODUCE LONG1 BECAUSE1 ! *EAPNESS BE+ DUE TO ! QUANTITY & RAPIDITY ( PRODUCTION1 ! PRODUCTIVE P[] T5DS MORE ?AN EV] TO \T/RIP CONSUMPTION4 ,IT IS :5 LABOR]S1 :OSE WAGES >E SC>CELY SUFFICI5T TO SUPPORT !M FROM ONE DAY TO ANO!R1 >E ?R[N \T ( WORK1 ?AT ! CONSEQU5CES ( ! PR9CIPLE ( PROP]TY BECOME MO/ FRI<TFUL4 ,!Y HAVE NOT BE5 ABLE TO ECONOMIZE1 !Y HAVE MADE NO SAV+S1 !Y HAVE ACCUMULAT$ NO CAPITAL :ATEV] TO SUPPORT !M EV5 ONE DAY MORE4 ,TODAY ! FACTORY IS CLOS$4 ,TO-MORR[ ! PEOPLE />VE 9 ! /REETS4 ,DAY AFT] TOMORR[ !Y WILL EI!R DIE 9 ! HOSPITAL1 OR EAT 9 ! JAIL4 

,& /ILL NEW MIS=TUNES COME TO COMPLICATE ?IS T]RIBLE SITUATION4 ,9 CONSEQU5CE ( ! CESSATION ( BUS9ESS1 & ! EXTREME *EAPNESS ( M]*&ISE1 ! MANUFACTUR] F9DS IT IMPOSSIBLE TO PAY ! 9T]E/ ON HIS BORR[$ CAPITAL2 :]EUPON HIS FRI<T5$ CR$ITORS HA/5 TO )DRAW !IR FUNDS4 ,PRODUCTION IS SUSP5D$1 & LABOR COMES TO A /&/ILL4 ,!N PEOPLE >E A/ONI%$ TO SEE CAPITAL DES]T COMM]CE1 & ?R[ ITSELF UPON ! ,/OCK ,EX*ANGE2 & ,I ONCE HE>D ,M4 ,BLANQUI BITT]LY LAM5T+ ! BL9D IGNORANCE ( CAPITALI/S4 ,! CAUSE ( ?IS MOVEM5T ( CAPITAL IS V]Y SIMPLE2 BUT = ?AT V]Y REASON AN ECONOMI/ C\LD NOT UND]/& IT1 OR RA!R MU/ NOT EXPLA9 IT4 ,! CAUSE LIES SOLELY 9 COMPETITION4 

,I MEAN BY COMPETITION1 NOT ONLY ! RIVALRY BETWE5 TWO P>TIES 5GAG$ 9 ! SAME BUS9ESS1 BUT ! G5]AL & SIMULTANE\S EF=T ( ALL K9DS ( BUS9ESS TO GET AHEAD ( EA* O!R4 ,?IS EF=T IS TO-DAY SO /RONG1 ?AT ! PRICE ( M]*&ISE SC>CELY COV]S ! CO/ ( PRODUCTION & DI/RIBUTION2 SO ?AT1 ! WAGES ( ALL LABOR]S BE+ LESS5$1 NO?+ REMA9S1 NOT EV5 9T]E/ = ! CAPITALI/S4 

,! PRIM>Y CAUSE ( COMM]CIAL & 9DU/RIAL /AGNATIONS IS1 !N1 9T]E/ ON CAPITAL1 -- ?AT 9T]E/ :I* ! ANCI5TS ) ONE ACCORD BR&$ ) ! NAME ( USURY1 :5EV] IT WAS PAID = ! USE ( MONEY1 BUT :I* !Y DID NOT D>E TO CONDEMN 9 ! =MS ( H\SE-R5T1 F>M-R5T1 OR PR(IT3 AS IF ! NATURE ( ! ?+ L5T C\LD EV] W>RANT A *>GE = ! L5D+2 ?AT IS1 ROBB]Y4 

,9 PROPORTION TO ! 9CREASE RECEIV$ BY ! CAPITALI/ WILL BE ! FREQU5CY & 9T5SITY ( COMM]CIAL CRISES1 -- ! FIR/ BE+ GIV51 WE ALWAYS CAN DET]M9E ! TWO O!RS2 & VISE V]SA4 ,DO Y\ WI% TO KN[ ! REGULATOR ( A SOCIETY8 ,ASC]TA9 ! AM\NT ( ACTIVE CAPITAL2 ?AT IS1 ! CAPITAL BE>+ 9T]E/1 & ! LEGAL RATE ( ?IS 9T]E/4 

,! C\RSE ( EV5TS WILL BE A S]IES ( OV]TURNS1 :OSE NUMB] & VIOL5CE WILL BE PROPORTIONAL TO ! ACTIVITY ( CAPITAL4 

,9 #a#h#c#i1 ! NUMB] ( FAILURES 9 ,P>IS ALONE WAS ONE ?\S& & SIXTY-F\R4 ,?IS PROPORTION WAS KEPT UP 9 ! E>LY MON?S ( #a#h#d2 &1 AS ,I WRITE !SE L9ES1 ! CRISIS IS NOT YET 5D$4 ,IT IS SAID1 FUR!R1 ?AT ! NUMB] ( H\SES :I* HAVE W\ND UP !IR BUS9ESS IS GREAT] ?AN ! NUMB] ( DECL>$ FAILURES4 ,BY ?IS FLOOD1 WE MAY JUDGE ( ! WAT]SP\T'S P[] ( SUCTION4 

,! DECIMATION ( SOCIETY IS N[ IMP]CEPTIBLE & P]MAN5T1 N[ P]IODICAL & VIOL5T2 IT DEP5DS UPON ! C\RSE :I* PROP]TY TAKES4 ,9 A C\NTRY :]E ! PROP]TY IS PRETTY EV5LY DI/RIBUT$1 & :]E LITTLE BUS9ESS IS DONE1 -- ! RI<TS & CLAIMS ( EA* BE+ BALANC$ BY ?OSE ( O!RS1 -- ! P[] ( 9VASION IS DE/ROY$4 ,!RE -- IT MAY BE TRULY SAID -- PROP]TY DOES NOT EXI/1 S9CE ! RI<T ( 9CREASE IS SC>CELY EX]CIS$ AT ALL4 ,! CONDITION ( ! LABOR]S -- AS REG>DS SECURITY ( LIFE -- IS ALMO/ ! SAME AS IF ABSOLUTE EQUALITY PREVAIL$ AMONG !M4 ,!Y >E DEPRIV$ ( ALL ! ADVANTAGES ( FULL & FREE ASSOCIATION1 BUT !IR EXI/5CE IS NOT 5DANG]$ 9 ! LEA/4 ,) ! EXCEPTION ( A FEW ISOLAT$ VICTIMS ( ! RI<T ( PROP]TY -- ( ?IS MIS=TUNE :OSE PRIM>Y CAUSE NO ONE P]CEIVES -- ! SOCIETY APPE>S TO RE/ CALMLY 9 ! BOSOM ( ?IS SORT ( EQUALITY4 ,BUT HAVE A C>E2 IT IS BALANC$ ON ! $GE ( A SWORD3 AT ! SLI<TE/ %OCK1 IT WILL FALL & MEET ) DEA?6 

,ORD9>ILY1 ! :IRLPOOL ( PROP]TY LOCALIZES ITSELF4 ,ON ! ONE H&1 F>M-R5T /OPS AT A C]TA9 PO9T2 ON ! O!R1 9 CONSEQU5CE ( COMPETITION & OV]-PRODUCTION1 ! PRICE ( MANUFACTUR$ GOODS DOES NOT RISE1 -- SO ?AT ! CONDITION ( ! PEASANT V>IES BUT LITTLE1 & DEP5DS MA9LY ON ! SEASONS4 ,! DEV\R+ ACTION ( PROP]TY BE>S1 !N1 PR9CIPALLY UPON BUS9ESS4 ,WE COMMONLY SAY COMM]CIAL CRISES1 NOT AGRICULTURAL CRISES2 BECAUSE1 :ILE ! F>M] IS EAT5 UP SL[LY BY ! RI<T ( 9CREASE1 ! MANUFACTUR] IS SWALL[$ AT A S+LE M\?FUL4 ,?IS LEADS TO ! CESSATION ( BUS9ESS1 ! DE/RUCTION ( =TUNES1 & ! 9ACTIVITY ( ! WORK+ PEOPLE2 :O DIE ONE AFT] ANO!R ON ! HI<WAYS1 & 9 ! HOSPITALS1 PRISONS1 & GALLEYS4 

,TO SUM UP ?IS PROPOSITION3 -- 

,PROP]TY SELLS PRODUCTS TO ! LABOR] = MORE ?AN IT PAYS HIM = !M2 !RE=E IT IS IMPOSSIBLE4 

,APP5DIX ,TO ,! ,FIF? ,PROPOSITION4 

,I4 ,C]TA9 RE=M]S1 & EV5 ! MO/ ( ! PUBLICI/S -- :O1 ?\< BELONG+ TO NO P>TICUL> S*OOL1 BUSY !MSELVES 9 DEVIS+ MEANS = ! AMELIORATION ( ! LOT ( ! POOR] & MORE NUM]\S CLASS -- LAY MU* /RESS N[-A-DAYS ON A BETT] ORGANIZATION ( LABOR4 ,! DISCIPLES ( ,F\RI]1 ESPECIALLY1 NEV] /OP %\T+1 0,ON TO ! PHALANX60 DECLAIM+ 9 ! SAME BREA? AGA9/ ! FOOLI%NESS & ABSURDITY ( O!R SECTS4 ,!Y CONSI/ ( HALF-A-DOZ5 9COMP>ABLE G5IUSES :O HAVE DISCOV]$ ?AT FIVE & F\R MAKE N9E2 TAKE TWO AWAY1 & N9E REMA91 -- & :O WEEP OV] ! BL9DNESS ( ,FRANCE1 :O REFUSES TO BELIEVE 9 ?IS A/ONI%+ >I?METIC4.<#b.> 

,9 FACT1 ! ,F\RI]I/S PROCLAIM !MSELVES1 ON ! ONE H&1 DEF5D]S ( PROP]TY1 ( ! RI<T ( 9CREASE1 :I* !Y HAVE ?US =MULAT$3 ,TO EA* ACCORD+ TO HIS CAPITAL1 HIS LABOR1 & HIS SKILL4 ,ON ! O!R H&1 !Y WI% ! WORK+MAN TO COME 9TO ! 5JOYM5T ( ALL ! WEAL? ( SOCIETY2 ?AT IS1 -- ABRIDG+ ! EXPRESSION1 -- 9TO ! UNDIVID$ 5JOYM5T ( HIS [N PRODUCT4 ,IS NOT ?IS LIKE SAY+ TO ! WORK+MAN1 0,LABOR1 Y\ %ALL HAVE ?REE FRANCS P] DAY2 Y\ %ALL LIVE ON FIFTY-FIVE S\S2 Y\ %ALL GIVE ! RE/ TO ! PROPRIETOR1 & ?US Y\ WILL CONSUME ?REE FRANCS08 

,IF ! ABOVE SPEE* IS NOT AN EXACT EPITOME ( ,*>LES ,F\RI]'S SY/EM1 ,I WILL SUBSCRIBE TO ! :OLE PHALAN/]IAN FOLLY ) A P5 DIPP$ 9 MY [N BLOOD4 

,( :AT USE IS IT TO RE=M 9DU/RY & AGRICULTURE1 -- ( :AT USE1 9DE$1 TO LABOR AT ALL1 -- IF PROP]TY IS MA9TA9$1 & LABOR CAN NEV] MEET ITS EXP5SES8 ,)\T ! ABOLITION ( PROP]TY1 ! ORGANIZATION ( LABOR IS NEI!R MORE NOR LESS ?AN A DELUSION4 ,IF PRODUCTION %\LD BE QUADRUPL$1 -- A ?+ :I* DOES NOT SEEM TO ME AT ALL IMPOSSIBLE1 -- IT W\LD BE LABOR LO/3 IF ! ADDITIONAL PRODUCT WAS NOT CONSUM$1 IT W\LD BE ( NO VALUE1 & ! PROPRIETOR W\LD DECL9E TO RECEIVE IT AS 9T]E/2 IF IT WAS CONSUM$1 ALL ! DISADVANTAGES ( PROP]TY W\LD REAPPE>4 ,IT MU/ BE CONFESS$ ?AT ! !ORY ( PASSIONAL ATTRACTION IS GRAVELY AT FAULT 9 ?IS P>TICUL>1 & ?AT ,F\RI]1 :5 HE TRI$ TO H>MONIZE ! PASSION = PROP]TY1 -- A BAD PASSION1 :ATEV] HE MAY SAY TO ! CONTR>Y1 -- BLOCK$ HIS [N *>IOT-:EELS4 

,! ABSURDITY ( ! PHALAN/]IAN ECONOMY IS SO GROSS1 ?AT MANY PEOPLE SUSPECT ,F\RI]1 9 SPITE ( ALL ! HOMAGE PAID BY HIM TO PROPRIETORS1 ( HAV+ BE5 A SECRET 5EMY ( PROP]TY4 ,?IS OP9ION MI<T BE SUPPORT$ BY PLAUSIBLE >GUM5TS2 /ILL IT IS NOT M9E4 ,*>LATANISM WAS TOO IMPORTANT A P>T = SU* A MAN TO PLAY1 & S9C]ITY TOO 9SIGNIFICANT A ONE4 ,I W\LD RA!R ?9K ,F\RI] IGNORANT 7:I* IS G5]ALLY ADMITT$7 ?AN DIS+5U\S4 ,AS = HIS DISCIPLES1 BE=E !Y CAN =MULATE ANY OP9ION ( !IR [N1 !Y MU/ DECL>E ONCE = ALL1 UNEQUIVOCALLY & ) NO M5TAL RES]VATION1 :E!R !Y MEAN TO MA9TA9 PROP]TY OR NOT1 & :AT !Y MEAN BY !IR FAM\S MOTTO1 -- 0,TO EA* ACCORD+ TO HIS CAPITAL1 HIS LABOR1 & HIS SKILL40 

,I,I4 ,BUT1 SOME HALF-CONV]T$ PROPRIETOR WILL OBS]VE1 0,W\LD IT NOT BE POSSIBLE1 BY SUPPRESS+ ! BANK1 9COMES1 F>M-R5T1 H\SE-R5T1 USURY ( ALL K9DS1 & F9ALLY PROP]TY ITSELF1 TO PROPORTION PRODUCTS TO CAPACITIES8 ,?AT WAS ,/4 ,SIMON'S IDEA2 IT WAS ALSO ,F\RI]'S2 IT IS ! DESIRE ( ! HUMAN CONSCI5CE2 & NO DEC5T P]SON W\LD D>E MA9TA9 ?AT A M9I/] ( /ATE %\LD LIVE NO BETT] ?AN A PEASANT40 

,O ,MIDAS6 Y\R E>S >E LONG6 ,:AT6 WILL Y\ NEV] UND]/& ?AT DISP>ITY ( WAGES & ! RI<T ( 9CREASE >E ONE & ! SAME8 ,C]TA9LY1 ,/4 ,SIMON1 ,F\RI]1 & !IR RESPECTIVE FLOCKS COMMITT$ A S]I\S BLUND] 9 ATTEMPT+ TO UNITE1 ! ONE1 9EQUALITY & COMMUNISM2 ! O!R1 9EQUALITY & PROP]TY3 BUT Y\1 A MAN ( FIGURES1 A MAN ( ECONOMY1 -- Y\1 :O KN[ BY HE>T Y\R LOG>I?MIC TABLES1 -- H[ CAN Y\ MAKE SO /UPID A MI/AKE8 ,DOES NOT POLITICAL ECONOMY ITSELF TEA* Y\ ?AT ! PRODUCT ( A MAN1 :ATEV] BE HIS 9DIVIDUAL CAPACITY1 IS NEV] WOR? MORE ?AN HIS LABOR1 & ?AT A MAN'S LABOR IS WOR? NO MORE ?AN HIS CONSUMPTION8 ,Y\ REM9D ME ( ?AT GREAT CON/ITUTION-FRAM]1 POOR ,P9HEIRO-,F]REIRA1 ! ,SIEYES ( ! N9ETE5? C5TURY1 :O1 DIVID+ ! CITIZ5S ( A NATION 9TO TWELVE CLASSES1 -- OR1 IF Y\ PREF]1 9TO TWELVE GRADES1 -- ASSIGN$ TO SOME A SAL>Y ( ONE HUNDR$ ?\S& FRANCS EA*2 TO O!RS1 EI<TY ?\S&2 !N TW5TY-FIVE ?\S&1 FIFTE5 ?\S&1 T5 ?\S&1 @&C41 D[N TO ONE ?\S& FIVE HUNDR$1 & ONE ?\S& FRANCS1 ! M9IMUM ALL[ANCE ( A CITIZ54 ,P9HEIRO LOV$ DI/9CTIONS1 & C\LD NO MORE CONCEIVE ( A ,/ATE )\T GREAT DIGNIT>IES ?AN ( AN >MY )\T DRUM-MAJORS2 & AS HE ALSO LOV$1 OR ?\<T HE LOV$1 LIB]TY1 EQUALITY1 & FRAT]NITY1 HE COMB9$ ! GOOD & ! EVIL ( \R OLD SOCIETY 9 AN ECLECTIC PHILOSOPHY :I* HE EMBODI$ 9 A CON/ITUTION4 ,EXCELL5T ,P9HEIRO6 ,LIB]TY EV5 TO PASSIVE SUBMISSION1 FRAT]NITY EV5 TO ID5TITY ( LANGUAGE1 EQUALITY EV5 9 ! JURY-BOX & AT ! GUILLOT9E1 -- SU* WAS HIS IDEAL REPUBLIC4 ,UNAPPRECIAT$ G5IUS1 ( :OM ! PRES5T C5TURY WAS UNWOR?Y1 BUT :OM ! FUTURE WILL AV5GE6 

,LI/51 PROPRIETOR4 ,9EQUALITY ( TAL5T EXI/S 9 FACT2 9 RI<T IT IS NOT ADMISSIBLE1 IT GOES = NO?+1 IT IS NOT ?\<T (4 ,ONE ,NEWTON 9 A C5TURY IS EQUAL TO ?IRTY MILLIONS ( M52 ! PSY*OLOGI/ ADMIRES ! R>ITY ( SO F9E A G5IUS1 ! LEGISLATOR SEES ONLY ! R>ITY ( ! FUNCTION4 ,N[1 R>ITY ( FUNCTION BE/[S NO PRIVILEGE UPON ! FUNCTION>Y2 & ?AT = SEV]AL REASONS1 ALL EQUALLY =CIBLE4 

#a4 ,R>ITY ( G5IUS WAS NOT1 9 ! ,CREATOR'S DESIGN1 A MOTIVE TO COMPEL SOCIETY TO GO D[N ON ITS KNEES BE=E ! MAN ( SUP]IOR TAL5TS1 BUT A PROVID5TIAL MEANS = ! P]=MANCE ( ALL FUNCTIONS TO ! GREATE/ ADVANTAGE ( ALL4 

#b4 ,TAL5T IS A CREATION ( SOCIETY RA!R ?AN A GIFT ( ,NATURE2 IT IS AN ACCUMULAT$ CAPITAL1 ( :I* ! RECEIV] IS ONLY ! GU>DIAN4 ,)\T SOCIETY1 -- )\T ! $UCATION & P[]FUL ASSI/ANCE :I* IT FURNI%ES1 -- ! F9E/ NATURE W\LD BE 9F]IOR TO ! MO/ ORD9>Y CAPACITIES 9 ! V]Y RESPECT 9 :I* IT \<T TO %9E4 ,! MORE EXT5SIVE A MAN'S KN[L$GE1 ! MORE LUXURIANT HIS IMAG9ATION1 ! MORE V]SATILE HIS TAL5T1 -- ! MORE CO/LY HAS HIS $UCATION BE51 ! MORE REM>KABLE & NUM]\S W]E HIS TEA*]S & HIS MODELS1 & ! GREAT] IS HIS DEBT4 ,! F>M] PRODUCES FROM ! TIME ?AT HE LEAVES HIS CRADLE UNTIL HE 5T]S HIS GRAVE3 ! FRUITS ( >T & SCI5CE >E LATE & SC>CE2 FREQU5TLY ! TREE DIES BE=E ! FRUIT RIP5S4 ,SOCIETY1 9 CULTIVAT+ TAL5T1 MAKES A SACRIFICE TO HOPE4 

#c4 ,CAPACITIES HAVE NO COMMON /&>D ( COMP>ISON3 ! CONDITIONS ( DEVELOPM5T BE+ EQUAL1 9EQUALITY ( TAL5T IS SIMPLY SPECIALTY ( TAL5T4 

#d4 ,9EQUALITY ( WAGES1 LIKE ! RI<T ( 9CREASE1 IS ECONOMICALLY IMPOSSIBLE4 ,TAKE ! MO/ FAVORABLE CASE1 -- ?AT :]E EA* LABOR] HAS FURNI%$ HIS MAXIMUM PRODUCTION2 ?AT !RE MAY BE AN EQUITABLE DI/RIBUTION ( PRODUCTS1 ! %>E ( EA* MU/ BE EQUAL TO ! QUOTI5T ( ! TOTAL PRODUCTION DIVID$ BY ! NUMB] ( LABOR]S4 ,?IS DONE1 :AT REMA9S :]E) TO PAY ! HI<] WAGES8 ,NO?+ :ATEV]4 

,WILL IT BE SAID ?AT ALL LABOR]S %\LD BE TAX$8 ,BUT1 !N1 !IR CONSUMPTION WILL NOT BE EQUAL TO !IR PRODUCTION1 !IR WAGES WILL NOT PAY = !IR PRODUCTIVE S]VICE1 !Y WILL NOT BE ABLE TO REPUR*ASE !IR PRODUCT1 & WE %ALL ONCE MORE BE AFFLICT$ ) ALL ! CALAMITIES ( PROP]TY4 ,I DO NOT SPEAK ( ! 9JU/ICE DONE TO ! DEFRAUD$ LABOR]1 ( RIVALRY1 ( EXCIT$ AMBITION1 & BURN+ HATR$1 -- !SE MAY ALL BE IMPORTANT CONSID]ATIONS1 BUT !Y DO NOT HIT ! PO9T4 

,ON ! ONE H&1 EA* LABOR]'S TASK BE+ %ORT & EASY1 & ! MEANS = ITS SUCCESSFUL ACCOMPLI%M5T BE+ EQUAL 9 ALL CASES1 H[ C\LD !RE BE L>GE & SMALL PRODUC]S8 ,ON ! O!R H&1 ALL FUNCTIONS BE+ EQUAL1 EI!R ON ACC\NT ( ! ACTUAL EQUIVAL5CE ( TAL5TS & CAPACITIES1 OR ON ACC\NT ( SOCIAL COOP]ATION1 H[ C\LD A FUNCTION>Y CLAIM A SAL>Y PROPORTIONAL TO ! WOR? ( HIS G5IUS8 

,BUT1 :AT DO ,I SAY8 ,9 EQUALITY WAGES >E ALWAYS PROPORTIONAL TO TAL5TS4 ,:AT IS ! ECONOMICAL MEAN+ ( WAGES8 ,! REPRODUCTIVE CONSUMPTION ( ! LABOR]4 ,! V]Y ACT BY :I* ! LABOR] PRODUCES CON/ITUTES1 !N1 ?IS CONSUMPTION1 EXACTLY EQUAL TO HIS PRODUCTION1 ( :I* WE >E SPEAK+4 ,:5 ! A/RONOM] PRODUCES OBS]VATIONS1 ! POET V]SES1 OR ! SAVANT EXP]IM5TS1 !Y CONSUME 9/RUM5TS1 BOOKS1 TRAVELS1 @&C41 @&C42 N[1 IF SOCIETY SUPPLIES ?IS CONSUMPTION1 :AT MORE CAN ! A/RONOM]1 ! SAVANT1 OR ! POET DEM&8 ,WE MU/ CONCLUDE1 !N1 ?AT 9 EQUALITY1 & ONLY 9 EQUALITY1 ,/4 ,SIMON'S ADAGE -- ,TO EA* ACCORD+ TO HIS CAPACITY TO EA* CAPACITY ACCORD+ TO ITS RESULTS -- F9DS ITS FULL & COMPLETE APPLICATION4 

,I,I,I4 ,! GREAT EVIL -- ! HORRIBLE & EV]-PRES5T EVIL -- >IS+ FROM PROP]TY1 IS ?AT1 :ILE PROP]TY EXI/S1 POPULATION1 H[EV] R$UC$1 IS1 & ALWAYS MU/ BE1 OV]-ABUNDANT4 ,COMPLA9TS HAVE BE5 MADE 9 ALL AGES ( ! EXCESS ( POPULATION2 9 ALL AGES PROP]TY HAS BE5 EMB>RASS$ BY ! PRES5CE ( PAUP]ISM1 NOT P]CEIV+ ?AT IT CAUS$ IT4 ,FUR!R1 -- NO?+ IS MORE CURI\S ?AN ! DIV]SITY ( ! PLANS PROPOS$ = ITS EXT]M9ATION4 ,!IR ATROCITY IS EQUAL$ ONLY BY !IR ABSURDITY4 

,! ANCI5TS MADE A PRACTICE ( AB&ON+ !IR *ILDR54 ,! :OLESALE & RETAIL SLAU<T] ( SLAVES1 CIVIL & =EIGN W>S1 ALSO L5T !IR AID4 ,9 ,ROME 7:]E PROP]TY HELD FULL SWAY71 !SE ?REE MEANS W]E EMPLOY$ SO EFFECTIVELY1 & = SO LONG A TIME1 ?AT F9ALLY ! EMPIRE F\ND ITSELF )\T 9HABITANTS4 ,:5 ! B>B>IANS >RIV$1 NOBODY WAS TO BE F\ND2 ! FIELDS W]E NO LONG] CULTIVAT$2 GRASS GREW 9 ! /REETS ( ! ,ITALIAN CITIES4 

,9 ,*9A1 FROM TIME IMMEMORIAL1 UPON FAM9E ALONE HAS DEVOLV$ ! TASK ( SWEEP+ AWAY ! POOR4 ,! PEOPLE LIV+ ALMO/ EXCLUSIVELY UPON RICE1 IF AN ACCID5T CAUSES ! CROP TO FAIL1 9 A FEW DAYS HUNG] KILLS ! 9HABITANTS BY MYRIADS2 & ! ,*9ESE HI/ORIAN RECORDS 9 ! ANNALS ( ! EMPIRE1 ?AT 9 SU* A YE> ( SU* AN EMP]OR TW5TY1 ?IRTY1 FIFTY1 ONE HUNDR$ ?\S& 9HABITANTS DI$ ( />VATION4 ,!N !Y BURY ! DEAD1 & RECOMM5CE ! PRODUCTION ( *ILDR5 UNTIL ANO!R FAM9E LEADS TO ! SAME RESULT4 ,SU* APPE>S TO HAVE BE51 9 ALL AGES1 ! ,CONFUCIAN ECONOMY4 

,I BORR[ ! FOLL[+ FACTS FROM A MOD]N ECONOMI/3 -- 

0,S9CE ! F\RTE5? & FIFTE5? C5TURIES1 ,5GL& HAS BE5 PREY$ UPON BY PAUP]ISM4 ,AT ?AT TIME BEGG>S W]E PUNI%$ BY LAW40 ,NEV]!LESS1 %E HAD NOT ONE-F\R? AS L>GE A POPULATION AS %E HAS TO-DAY4 

0,$W>D PROHIBITS ALMS-GIV+1 ON PA9 ( IMPRISONM5T444 ,! LAWS ( #a$g & #afef PRESCRIBE A LIKE PUNI%M5T1 9 CASE ( A SECOND (F5SE4 ,ELIZABE? ORD]S ?AT EA* P>I% %ALL SUPPORT ITS [N PAUP]S4 ,BUT :AT IS A PAUP]8 ,*>LES ,I,I4 DECIDES ?AT AN UNDISPUT$ RESID5CE ( =TY DAYS CON/ITUTES A SETTLEM5T 9 A P>I%2 BUT1 IF DISPUT$1 ! NEW-COM] IS =C$ TO PACK (F4 ,JAMES ,I,I4 MODIFIES ?IS DECISION1 :I* IS AGA9 MODIFI$ BY ,WILLIAM4 ,9 ! MID/ ( TRIALS1 REPORTS1 & MODIFICATIONS1 PAUP]ISM 9CREASES1 & ! WORK+MAN LANGUI%ES & DIES4 

0,! POOR-TAX 9 #aggd EXCE$$ =TY MILLIONS ( FRANCS2 9 #a#g#h#c-#d-#e1 IT AV]AG$ FIFTY-?REE MILLIONS2 #a#h#a#c1 MORE ?AN A HUNDR$ & EI<TY-SEV5 MILLIONS FIVE HUNDR$ ?\S& FRANCS2 #a#h#a#f1 TWO HUNDR$ & FIFTY MILLIONS2 9 #a#h#a#g1 IT IS E/IMAT$ AT ?REE HUNDR$ & SEV5TE5 MILLIONS4 

0,9 #a#h#b#a1 ! NUMB] ( PAUP]S 5ROLL$ UPON ! P>I% LI/S WAS E/IMAT$ AT F\R MILLIONS1 NE>LY ONE-?IRD ( ! POPULATION4 

0,FRANCE4 ,9 #a#e#d#d1 ,FRANCIS ,I4 E/ABLI%ES A COMPULSORY TAX 9 BEHALF ( ! POOR4 ,9 #aeff & #a#e#h#f1 ! SAME PR9CIPLE IS APPLI$ TO ! :OLE K+DOM4 

0,UND] ,L\IS ,X,I,V41 =TY ?\S& PAUP]S 9FE/$ ! CAPITAL .<AS MANY 9 PROPORTION AS TO-DAY.>4 ,M5DICITY WAS PUNI%$ SEV]ELY4 ,9 #a#g#d1 ! ,P>LIAM5T ( ,P>IS REE/ABLI%ES )9 ITS [N JURISDICTION ! COMPULSORY ASSESSM5T4 

0,! ,CON/ITU5T ,ASSEMBLY1 FRI<T5$ AT ! EXT5T ( ! EVIL & ! DIFFICULTY ( CUR+ IT1 ORDA9S ! /ATUS QUO4 

0,! ,CONV5TION PROCLAIMS ASSI/ANCE ( ! POOR TO BE A NATIONAL DEBT4 ,ITS LAW REMA9S UNEXECUT$4 

0,NAPOLEON ALSO WI%ES TO REM$Y ! EVIL3 HIS IDEA IS IMPRISONM5T4 ',9 ?AT WAY1' SAID HE1 ',I %ALL PROTECT ! RI* FROM ! IMPORTUNITY ( BEGG>S1 & %ALL RELIEVE !M ( ! DISGU/+ SI<T ( ABJECT POV]TY4' 0 ,O WOND]FUL MAN6 

,FROM !SE FACTS1 :I* ,I MI<T MULTIPLY /ILL F>!R1 TWO ?+S >E TO BE 9F]R$1 -- ! ONE1 ?AT PAUP]ISM IS 9DEP5D5T ( POPULATION2 ! O!R1 ?AT ALL ATTEMPTS HI!RTO MADE AT ITS EXT]M9ATION HAVE PROV$ ABORTIVE4 

,CA?OLICISM F\NDS HOSPITALS & CONV5TS1 & COMM&S *>ITY2 ?AT IS1 %E 5C\RAGES M5DICITY4 ,?AT IS ! EXT5T ( H] 9SI<T AS VOIC$ BY H] PRIE/S4 

,! SECUL> P[] ( ,*RI/IAN NATIONS N[ ORD]S TAXES ON ! RI*1 N[ BANI%M5T & IMPRISONM5T = ! POOR2 ?AT IS1 ON ! ONE H&1 VIOLATION ( ! RI<T ( PROP]TY1 &1 ON ! O!R1 CIVIL DEA? & MURD]4 

,! MOD]N ECONOMI/S -- ?9K+ ?AT PAUP]ISM IS CAUS$ BY ! EXCESS ( POPULATION1 EXCLUSIVELY -- HAVE DEVOT$ !MSELVES TO DEVIS+ *ECKS4 ,SOME WI% TO PROHIBIT ! POOR FROM M>RY+2 ?US1 -- HAV+ D5\NC$ RELIGI\S CELIBACY1 -- !Y PROPOSE COMPULSORY CELIBACY1 :I* WILL 9EVITABLY BECOME LIC5TI\S CELIBACY4 

,O!RS DO NOT APPROVE ?IS ME?OD1 :I* !Y DEEM TOO VIOL5T2 & :I*1 !Y SAY1 DEPRIVES ! POOR MAN ( ! ONLY PLEASURE :I* HE KN[S 9 ?IS WORLD4 ,!Y W\LD SIMPLY RECOMM5D HIM TO BE PRUD5T4 ,?IS OP9ION IS HELD BY ,MAL?US1 ,SISMONDI1 ,SAY1 ,DROZ1 ,DU*ATEL1 @&C4 ,BUT IF ! POOR >E TO BE PRUD5T1 ! RI* MU/ SET ! EXAMPLE4 ,:Y %\LD ! M>RIAGEABLE AGE ( ! LATT] BE FIX$ AT EI<TE5 YE>S1 :ILE ?AT ( ! =M] IS PO/PON$ UNTIL ?IRTY8 

,AGA91 !Y W\LD DO WELL TO EXPLA9 CLE>LY :AT !Y MEAN BY ?IS MATRIMONIAL PRUD5CE :I* !Y SO URG5TLY RECOMM5D TO ! LABOR]2 = H]E EQUIVOCATION IS ESPECIALLY DANG]\S1 & ,I SUSPECT ?AT ! ECONOMI/S >E NOT ?OR\<LY UND]/OOD4 0,SOME HALF-5LI<T5$ ECCLESIA/ICS >E AL>M$ :5 !Y HE> PRUD5CE 9 M>RIAGE ADVIS$2 !Y FE> ?AT ! DIV9E 9JUNCTION -- 9CREASE & MULTIPLY -- IS TO BE SET ASIDE4 ,TO BE LOGICAL1 !Y MU/ ANA!MATIZE BA*ELORS40 7,J4 ,DROZ3 ,POLITICAL ,ECONOMY47 

,M4 ,DROZ IS TOO HONE/ A MAN1 & TOO LITTLE ( A !OLOGIAN1 TO SEE :Y !SE CASUI/S >E SO AL>M$2 & ?IS *A/E IGNORANCE IS ! V]Y BE/ EVID5CE ( ! PURITY ( HIS HE>T4 ,RELIGION NEV] HAS 5C\RAG$ E>LY M>RIAGES2 & ! K9D ( PRUD5CE :I* IT CONDEMNS IS ?AT DESCRIB$ 9 ?IS ,LAT9 S5T5CE FROM ,SAN*EZ1 -- ,AN LICET OB METUM LIB]ORUM SEM5 EXTRA VAS EJIC]E8 

,DE/UTT DE ,TRACY SEEMS TO DISLIKE PRUD5CE 9 EI!R =M4 ,HE SAYS3 0,I CONFESS ?AT ,I NO MORE %>E ! DESIRE ( ! MORALI/S TO DIM9I% & RE/RA9 \R PLEASURES1 ?AN ?AT ( ! POLITICIANS TO 9CREASE \R PROCREATIVE P[]S1 & ACCEL]ATE REPRODUCTION40 ,HE BELIEVES1 !N1 ?AT WE %\LD LOVE & M>RY :5 & AS WE PLEASE4 ,WIDESPREAD MIS]Y RESULTS FROM LOVE & M>RIAGE1 BUT ?IS \R PHILOSOPH] DOES NOT HE$4 ,TRUE TO ! DOGMA ( ! NECESSITY ( EVIL1 TO EVIL HE LOOKS = ! SOLUTION ( ALL PROBLEMS4 ,HE ADDS3 0,! MULTIPLICATION ( M5 CONT9U+ 9 ALL CLASSES ( SOCIETY1 ! SURPLUS MEMB]S ( ! UPP] CLASSES >E SUPPORT$ BY ! L[] CLASSES1 & ?OSE ( ! LATT] >E DE/ROY$ BY POV]TY40 ,?IS PHILOSOPHY HAS FEW AV[$ P>TISANS2 BUT IT HAS OV] EV]Y O!R ! 9DISPUTABLE ADVANTAGE ( DEMON/RATION 9 PRACTICE4 ,NOT LONG S9CE ,FRANCE HE>D IT ADVOCAT$ 9 ! ,*AMB] ( ,DEPUTIES1 9 ! C\RSE ( ! DISCUSSION ON ! ELECTORAL RE=M1 -- ,POV]TY WILL ALWAYS EXI/4 ,?AT IS ! POLITICAL APHORISM ) :I* ! M9I/] ( /ATE GR\ND TO P[D] ! >GUM5TS ( ,M4 ,>AGO4 ,POV]TY WILL ALWAYS EXI/6 ,YES1 SO LONG AS PROP]TY DOES4 

,! ,F\RI]I/S -- 9V5TORS ( SO MANY M>VEL\S CONTRIVANCES -- C\LD NOT1 9 ?IS FIELD1 BELIE !IR *>ACT]4 ,!Y 9V5T$ F\R ME?ODS ( *ECK+ 9CREASE ( POPULATION AT WILL4 

#a4 ,! VIGOR ( WOM54 ,ON ?IS PO9T !Y >E CONTRADICT$ BY EXP]I5CE2 =1 AL?\< VIGOR\S WOM5 MAY BE LESS LIKELY TO CONCEIVE1 NEV]!LESS !Y GIVE BIR? TO ! HEAL?IE/ *ILDR52 SO ?AT ! ADVANTAGE ( MAT]NITY IS ON !IR SIDE4 

#b4 ,9TEGRAL EX]CISE1 OR ! EQUAL DEVELOPM5T ( ALL ! PHYSICAL P[]S4 ,IF ?IS DEVELOPM5T IS EQUAL1 H[ IS ! P[] ( REPRODUCTION LESS5$8 

#c4 ,! GA/RONOMIC REGIME2 OR1 9 PLA9 ,5GLI%1 ! PHILOSOPHY ( ! BELLY4 ,! ,F\RI]I/S SAY1 ?AT ABUNDANCE ( RI* FOOD R5D]S WOM5 /]ILE2 JU/ AS TOO MU* SAP -- :ILE 5HANC+ ! BEAUTY ( FL[]S -- DE/ROYS !IR REPRODUCTIVE CAPACITY4 ,BUT ! ANALOGY IS A FALSE ONE4 ,FL[]S BECOME /]ILE :5 ! /AM5S -- OR MALE ORGANS -- >E *ANG$ 9TO PETALS1 AS MAY BE SE5 BY 9SPECT+ A ROSE2 & :5 ?R\< EXCESSIVE DAMPNESS ! POLL5 LOSES ITS F]TILIZ+ P[]4 ,!N1 -- 9 ORD] ?AT ! GA/RONOMIC REGIME MAY PRODUCE ! RESULTS CLAIM$ = IT1 -- NOT ONLY MU/ ! FEMALES BE FATT5$1 BUT ! MALES MU/ BE R5D]$ IMPOT5T4 

#d4 ,PHAN]OGAMIC MORALITY1 OR PUBLIC CONCUB9AGE4 ,I KN[ NOT :Y ! PHALAN/]IANS USE ,GREEK WORDS TO CONVEY IDEAS :I* CAN BE EXPRESS$ SO CLE>LY 9 ,FR5*4 ,?IS ME?OD -- LIKE ! PREC$+ ONE -- IS COPI$ FROM CIVILIZ$ CU/OMS4 ,F\RI]1 HIMSELF1 CITES ! EXAMPLE ( PRO/ITUTES AS A PRO(4 

,N[ WE HAVE NO C]TA9 KN[L$GE YET ( ! FACTS :I* HE QUOTES4 ,SO /ATES ,P>5T ,DU*ATELET 9 HIS WORK ON 0,PRO/ITUTION40 

,FROM ALL ! 9=MATION :I* ,I HAVE BE5 ABLE TO GA!R1 ,I F9D ?AT ALL ! REM$IES = PAUP]ISM & FECUNDITY -- SANCTION$ BY UNIV]SAL PRACTICE1 PHILOSOPHY1 POLITICAL ECONOMY1 & ! LATE/ RE=M]S -- MAY BE SUMM$ UP 9 ! FOLL[+ LI/3 MA/URBATION1 ONANISM1.<#b#a.> SODOMY1 TRIBADIE1 POLY&RY1.<#b#b.> PRO/ITUTION1 CA/RATION1 CONT95CE1 ABORTION1 & 9FANTICIDE4.<#b#c.> 

,ALL !SE ME?ODS BE+ PROV$ 9ADEQUATE1 !RE REMA9S PROSCRIPTION4 

,UN=TUNATELY1 PROSCRIPTION1 :ILE DECREAS+ ! NUMB] ( ! POOR1 9CREASES !IR PROPORTION4 ,IF ! 9T]E/ *>G$ BY ! PROPRIETOR UPON ! PRODUCT IS EQUAL ONLY TO ONE-TW5TIE? ( ! PRODUCT 7BY LAW IT IS EQUAL TO ONE-TW5TIE? ( ! CAPITAL71 IT FOLL[S ?AT TW5TY LABOR]S PRODUCE = N9ETE5 ONLY2 BECAUSE !RE IS ONE AMONG !M1 CALL$ PROPRIETOR1 :O EATS ! %>E ( TWO4 ,SUPPOSE ?AT ! TW5TIE? LABOR] -- ! POOR ONE -- IS KILL$3 ! PRODUCTION ( ! FOLL[+ YE> WILL BE DIM9I%$ ONE-TW5TIE?2 CONSEQU5TLY ! N9ETE5? WILL HAVE TO YIELD HIS PORTION1 & P]I%4 ,=1 S9CE IT IS NOT ONE-TW5TIE? ( ! PRODUCT ( N9ETE5 :I* MU/ BE PAID TO ! PROPRIETOR1 BUT ONE-TW5TIE? ( ! PRODUCT ( TW5TY 7SEE ?IRD PROPOSITION71 EA* SURVIV+ LABOR] MU/ SACRIFICE ONE-TW5TIE? PLUS ONE F\R-HUNDR$? ( HIS PRODUCT2 9 O!R WORDS1 ONE MAN \T ( N9ETE5 MU/ BE KILL$4 ,!RE=E1 :ILE PROP]TY EXI/S1 ! MORE POOR PEOPLE WE KILL1 ! MORE !RE >E BORN 9 PROPORTION4 

,MAL?US1 :O PROV$ SO CLE>LY ?AT POPULATION 9CREASES 9 GEOMETRICAL PROGRESSION1 :ILE PRODUCTION 9CREASES ONLY 9 >I?METICAL PROGRESSION1 DID NOT NOTICE ?IS PAUP]IZ+ P[] ( PROP]TY4 ,HAD HE OBS]V$ ?IS1 HE W\LD HAVE UND]/OOD ?AT1 BE=E TRY+ TO *ECK REPRODUCTION1 ! RI<T ( 9CREASE %\LD BE ABOLI%$2 BECAUSE1 :]EV] ?AT RI<T IS TOL]AT$1 !RE >E ALWAYS TOO MANY 9HABITANTS1 :ATEV] ! EXT5T OR F]TILITY ( ! SOIL4 

,IT WILL BE ASK$1 P]HAPS1 H[ ,I W\LD MA9TA9 A BALANCE BETWE5 POPULATION & PRODUCTION2 = SOON] OR LAT] ?IS PROBLEM MU/ BE SOLV$4 ,! READ] WILL P>DON ME1 IF ,I DO NOT GIVE MY ME?OD H]E4 ,=1 9 MY OP9ION1 IT IS USELESS TO SAY A ?+ UNLESS WE PROVE IT4 ,N[1 TO EXPLA9 MY ME?OD FULLY W\LD REQUIRE NO LESS ?AN A =MAL TREATISE4 ,IT IS A ?+ SO SIMPLE & SO VA/1 SO COMMON & SO EXTRAORD9>Y1 SO TRUE & SO MISUND]/OOD1 SO SACR$ & SO PR(ANE1 ?AT TO NAME IT )\T DEVELOP+ & PROV+ IT W\LD S]VE ONLY TO EXCITE CONTEMPT & 9CR$ULITY4 ,ONE ?+ AT A TIME4 ,LET US E/ABLI% EQUALITY1 & ?IS REM$Y WILL SOON APPE>2 = TRU?S FOLL[ EA* O!R1 JU/ AS CRIMES & ]RORS DO4 

,SIX? ,PROPOSITION4 ,PROP]TY IS IMPOSSIBLE1 BECAUSE IT IS ! ,MO!R ( ,TYRANNY4 

,:AT IS GOV]NM5T8 ,GOV]NM5T IS PUBLIC ECONOMY1 ! SUPREME ADM9I/RATIVE P[] OV] PUBLIC WORKS & NATIONAL POSSESSIONS4 

,N[1 ! NATION IS LIKE A VA/ SOCIETY 9 :I* ALL !1 CITIZ5S >E /OCKHOLD]S4 ,EA* ONE HAS A DELIB]ATIVE VOICE 9 ! ASSEMBLY2 &1 IF ! %>ES >E EQUAL1 HAS ONE VOTE AT HIS DISPOSAL4 ,BUT1 UND] ! REGIME ( PROP]TY1 !RE IS GREAT 9EQUALITY BETWE5 ! %>ES ( ! /OCKHOLD]S2 !RE=E1 ONE MAY HAVE SEV]AL HUNDR$ VOTES1 :ILE ANO!R HAS ONLY ONE4 ,IF1 = EXAMPLE1 ,I 5JOY AN 9COME ( ONE MILLION2 ?AT IS1 IF ,I AM ! PROPRIETOR ( A =TUNE ( ?IRTY OR =TY MILLIONS WELL 9VE/$1 & IF ?IS =TUNE CON/ITUTES #a_/#c ( ! NATIONAL CAPITAL1 -- IT IS CLE> ?AT ! PUBLIC ADM9I/RATION ( MY PROP]TY W\LD =M #a_/#c ( ! DUTIES ( ! GOV]NM5T2 &1 IF ! NATION HAD A POPULATION ( ?IRTY-F\R MILLIONS1 ?AT ,I %\LD HAVE AS MANY VOTES AS ONE ?\S& ONE HUNDR$ & ?IRTY-?REE SIMPLE /OCKHOLD]S4 

,?US1 :5 ,M4 ,>AGO DEM&S ! RI<T ( SUFFRAGE = ALL MEMB]S ( ! ,NATIONAL ,GU>D1 HE IS P]FECTLY RI<T2 S9CE EV]Y CITIZ5 IS 5ROLL$ = AT LEA/ ONE NATIONAL %>E1 :I* 5TITLES HIM TO ONE VOTE4 ,BUT ! ILLU/RI\S ORATOR \<T AT ! SAME TIME TO DEM& ?AT EA* ELECTOR %ALL HAVE AS MANY VOTES AS HE HAS %>ES2 AS IS ! CASE 9 COMM]CIAL ASSOCIATIONS4 ,= TO DO O!RWISE IS TO PRET5D ?AT ! NATION HAS A RI<T TO DISPOSE ( ! PROP]TY ( 9DIVIDUALS )\T CONSULT+ !M2 :I* IS CONTR>Y TO ! RI<T ( PROP]TY4 ,9 A C\NTRY :]E PROP]TY EXI/S1 EQUALITY ( ELECTORAL RI<TS IS A VIOLATION ( PROP]TY4 

,N[1 IF EA* CITIZ5'S SOV]EIGNTY MU/ & \<T TO BE PROPORTIONAL TO HIS PROP]TY1 IT FOLL[S ?AT ! SMALL /OCK HOLD]S >E AT ! M]CY ( ! L>G] ONES2 :O WILL1 AS SOON AS !Y *OOSE1 MAKE SLAVES ( ! =M]1 M>RY !M AT PLEASURE1 TAKE FROM !M !IR WIVES1 CA/RATE !IR SONS1 PRO/ITUTE !IR DAU<T]S1 ?R[ ! AG$ TO ! %>KS1 -- & F9ALLY WILL BE =C$ TO S]VE !MSELVES 9 ! SAME WAY1 UNLESS !Y PREF] TO TAX !MSELVES = ! SUPPORT ( !IR S]VANTS4 ,9 SU* A CONDITION IS ,GREAT ,BRITA9 TO-DAY4 ,JOHN ,BULL -- C>+ LITTLE = LIB]TY1 EQUALITY1 OR DIGNITY -- PREF]S TO S]VE & BEG4 ,BUT Y\1 BONHOMME ,JACQUES8 

,PROP]TY IS 9COMPATIBLE ) POLITICAL & CIVIL EQUALITY2 !N PROP]TY IS IMPOSSIBLE4 

,HI/ORICAL ,COMM5TS4 -- #a4 ,:5 ! VOTE ( ! ?IRD E/ATE WAS D\BL$ BY ! ,/ATES-,G5]AL ( #a#g#h#i1 PROP]TY WAS GROSSLY VIOLAT$4 ,! NOBILITY & ! CL]GY POSSESS$ ?REE-F\R?S ( ! SOIL ( ,FRANCE2 !Y %\LD HAVE CONTROLL$ ?REE-F\R?S ( ! VOTES 9 ! NATIONAL REPRES5TATION4 ,TO D\BLE ! VOTE ( ! ?IRD E/ATE WAS JU/1 IT IS SAID1 S9CE ! PEOPLE PAID NE>LY ALL ! TAXES4 ,?IS >GUM5T W\LD BE S\ND1 IF !RE W]E NO?+ TO BE VOT$ UPON BUT TAXES4 ,BUT IT WAS A QUE/ION AT ?AT TIME ( RE=M+ ! GOV]NM5T & ! CON/ITUTION2 CONSEQU5TLY1 ! D\BL+ ( ! VOTE ( ! ?IRD E/ATE WAS A USURPATION1 & AN ATTACK ON PROP]TY4 

#b4 ,IF ! PRES5T REPRES5TATIVES ( ! RADICAL OPPOSITION %\LD COME 9TO P[]1 !Y W\LD WORK A RE=M BY :I* EV]Y ,NATIONAL ,GU>D %\LD BE AN ELECTOR1 & EV]Y ELECTOR ELIGIBLE = (FICE1 -- AN ATTACK ON PROP]TY4 

,!Y W\LD L[] ! RATE ( 9T]E/ ON PUBLIC FUNDS1 -- AN ATTACK ON PROP]TY4 

,!Y W\LD1 9 ! 9T]E/ ( ! PUBLIC1 PASS LAWS TO REGULATE ! EXPORTATION ( CATTLE & :EAT1 -- AN ATTACK ON PROP]TY4 

,!Y W\LD ALT] ! ASSESSM5T ( TAXES1 -- AN ATTACK ON PROP]TY4 

,!Y W\LD $UCATE ! PEOPLE GRATUIT\SLY1 -- A CONSPIRACY AGA9/ PROP]TY4 

,!Y W\LD ORGANIZE LABOR2 ?AT IS1 !Y W\LD GU>ANTEE LABOR TO ! WORK+MAN1 & GIVE HIM A %>E 9 ! PR(ITS1 -- ! ABOLITION ( PROP]TY4 

,N[1 !SE SAME RADICALS >E ZEAL\S DEF5D]S ( PROP]TY1 -- A RADICAL PRO( ?AT !Y KN[ NOT :AT !Y DO1 NOR :AT !Y WI%4 

#c4 ,S9CE PROP]TY IS ! GR& CAUSE ( PRIVILEGE & DESPOTISM1 ! =M ( ! REPUBLICAN OA? %\LD BE *ANG$4 ,9/EAD (1 0,I SWE> HATR$ TO ROYALTY10 H5CE=? ! NEW MEMB] ( A SECRET SOCIETY %\LD SAY1 0,I SWE> HATR$ TO PROP]TY40 

,SEV5? ,PROPOSITION4 ,PROP]TY IS IMPOSSIBLE1 BECAUSE1 9 CONSUM+ ITS ,RECEIPTS1 IT LOSES !M2 9 HO>D+ !M1 IT NULLIFIES !M2 & 9 US+ !M AS ,CAPITAL1 IT TURNS !M AGA9/ ,PRODUCTION4 

,I4 ,IF1 ) ! ECONOMI/S1 WE CONSID] ! LABOR] AS A LIV+ MA*9E1 WE MU/ REG>D ! WAGES PAID TO HIM AS ! AM\NT NECESS>Y TO SUPPORT ?IS MA*9E1 & KEEP IT 9 REPAIR4 ,! HEAD ( A MANUFACTUR+ E/ABLI%M5T -- :O EMPLOYS LABOR]S AT ?REE1 FIVE1 T51 & FIFTE5 FRANCS P] DAY1 & :O *>GES TW5TY FRANCS = HIS SUP]9T5D5CE -- DOES NOT REG>D HIS DISBURSEM5TS AS LOSSES1 BECAUSE HE KN[S !Y WILL RETURN TO HIM 9 ! =M ( PRODUCTS4 ,CONSEQU5TLY1 LABOR & REPRODUCTIVE CONSUMPTION >E ID5TICAL4 

,:AT IS ! PROPRIETOR8 ,HE IS A MA*9E :I* DOES NOT WORK2 OR1 :I* WORK+ = ITS [N PLEASURE1 & ONLY :5 IT SEES FIT1 PRODUCES NO?+4 

,:AT IS IT TO CONSUME AS A PROPRIETOR8 ,IT IS TO CONSUME )\T WORK+1 TO CONSUME )\T REPRODUC+4 ,=1 ONCE MORE1 ?AT :I* ! PROPRIETOR CONSUMES AS A LABOR] COMES BACK TO HIM2 HE DOES NOT GIVE HIS LABOR 9 EX*ANGE = HIS PROP]TY1 S9CE1 IF HE DID1 HE W\LD !REBY CEASE TO BE A PROPRIETOR4 ,9 CONSUM+ AS A LABOR]1 ! PROPRIETOR GA9S1 OR AT LEA/ DOES NOT LOSE1 S9CE HE RECOV]S ?AT :I* HE CONSUMES2 9 CONSUM+ AS A PROPRIETOR1 HE IMPOV]I%ES HIMSELF4 ,TO 5JOY PROP]TY1 !N1 IT IS NECESS>Y TO DE/ROY IT2 TO BE A REAL PROPRIETOR1 ONE MU/ CEASE TO BE A PROPRIETOR4 

,! LABOR] :O CONSUMES HIS WAGES IS A MA*9E :I* DE/ROYS & REPRODUCES2 ! PROPRIETOR :O CONSUMES HIS 9COME IS A BOTTOMLESS GULF1 -- S& :I* WE WAT]1 A /ONE :I* WE S[4 ,SO TRUE IS ?IS1 ?AT ! PROPRIETOR -- NEI!R WI%+ NOR KN[+ H[ TO PRODUCE1 & P]CEIV+ ?AT AS FA/ AS HE USES HIS PROP]TY HE DE/ROYS IT = EV] -- HAS TAK5 ! PRECAUTION TO MAKE SOME ONE PRODUCE 9 HIS PLACE4 ,?AT IS :AT POLITICAL ECONOMY1 SPEAK+ 9 ! NAME ( ET]NAL JU/ICE1 CALLS PRODUC+ BY HIS CAPITAL1 -- PRODUC+ BY HIS TOOLS4 ,& ?AT IS :AT \<T TO BE CALL$ PRODUC+ BY A SLAVE -- PRODUC+ AS A ?IEF & AS A TYRANT4 ,HE1 ! PROPRIETOR1 PRODUCE6 444 ,! ROBB] MI<T SAY1 AS WELL3 0,I PRODUCE40 

,! CONSUMPTION ( ! PROPRIETOR HAS BE5 /YL$ LUXURY1 9 OPPOSITION TO USEFUL CONSUMPTION4 ,FROM :AT HAS JU/ BE5 SAID1 WE SEE ?AT GREAT LUXURY CAN PREVAIL 9 A NATION :I* IS NOT RI*1 -- ?AT POV]TY EV5 9CREASES ) LUXURY1 & VISE V]SA4 ,! ECONOMI/S 7SO MU* CR$IT MU/ BE GIV5 !M1 AT LEA/7 HAVE CAUS$ SU* A HORROR ( LUXURY1 ?AT TO-DAY A V]Y L>GE NUMB] ( PROPRIETORS -- NOT TO SAY ALMO/ ALL -- A%AM$ ( !IR IDL5ESS -- LABOR1 ECONOMIZE1 & CAPITALIZE4 ,!Y HAVE JUMP$ FROM ! FRY+-PAN 9TO ! FIRE4 

,I CANNOT REPEAT IT TOO (T53 ! PROPRIETOR :O ?9KS TO DES]VE HIS 9COME BY WORK+1 & :O RECEIVES WAGES = HIS LABOR1 IS A FUNCTION>Y :O GETS PAID TWICE2 ?AT IS ! ONLY DIFF]5CE BETWE5 AN IDLE PROPRIETOR & A LABOR+ PROPRIETOR4 ,BY HIS LABOR1 ! PROPRIETOR PRODUCES HIS WAGES ONLY -- NOT HIS 9COME4 ,& S9CE HIS CONDITION 5ABLES HIM TO 5GAGE 9 ! MO/ LUCRATIVE PURSUITS1 IT MAY BE SAID ?AT ! PROPRIETOR'S LABOR H>MS SOCIETY MORE ?AN IT HELPS IT4 ,:ATEV] ! PROPRIETOR DOES1 ! CONSUMPTION ( HIS 9COME IS AN ACTUAL LOSS1 :I* HIS SAL>I$ FUNCTIONS NEI!R REPAIR NOR JU/IFY2 & :I* W\LD ANNIHILATE PROP]TY1 W]E IT NOT CONT9UALLY REPL5I%$ BY \TSIDE PRODUCTION4 

,I,I4 ,!N1 ! PROPRIETOR :O CONSUMES ANNIHILATES ! PRODUCT3 HE DOES MU* WORSE IF HE LAYS IT UP4 ,! ?+S :I* HE LAYS BY PASS 9TO ANO!R WORLD2 NO?+ MORE IS SE5 ( !M1 NOT EV5 ! CAPUT MORTUUM1 -- ! SMOKE4 ,IF WE HAD SOME MEANS ( TRANSPORTATION BY :I* TO TRAVEL TO ! MOON1 & IF ! PROPRIETORS %\LD BE SEIZ$ ) A SUDD5 FANCY TO C>RY !IR SAV+S ?I!R1 AT ! 5D ( A C]TA9 TIME \R T]RAQUE\S PLANET W\LD BE TRANSPORT$ BY !M TO ITS SATELLITE6 

,! PROPRIETOR :O LAYS UP PRODUCTS WILL NEI!R ALL[ O!RS TO 5JOY !M1 NOR 5JOY !M HIMSELF2 = HIM !RE IS NEI!R POSSESSION NOR PROP]TY4 ,LIKE ! MIS]1 HE BROODS OV] HIS TREASURES3 HE DOES NOT USE !M4 ,HE MAY FEA/ HIS EYES UPON !M2 HE MAY LIE D[N ) !M2 HE MAY SLEEP ) !M 9 HIS >MS3 ALL V]Y F9E1 BUT CO9S DO NOT BRE$ CO9S4 ,NO REAL PROP]TY )\T 5JOYM5T2 NO 5JOYM5T )\T CONSUMPTION2 NO CONSUMPTION )\T LOSS ( PROP]TY1 -- SU* IS ! 9FLEXIBLE NECESSITY TO :I* 

,GOD'S JUDGM5T COMPELS ! PROPRIETOR TO B5D4 ,A CURSE UPON PROP]TY 6 

,I,I,I4 ,! PROPRIETOR :O1 9/EAD ( CONSUM+ HIS 9COME1 USES IT AS CAPITAL1 TURNS IT AGA9/ PRODUCTION1 & !REBY MAKES IT IMPOSSIBLE = HIM TO EX]CISE HIS RI<T4 ,= ! MORE HE 9CREASES ! AM\NT ( 9T]E/ TO BE PAID UPON IT1 ! MORE HE IS COMPELL$ TO DIM9I% WAGES4 ,N[1 ! MORE HE DIM9I%ES WAGES1 -- ?AT IS1 ! LESS HE DEVOTES TO ! MA9T5ANCE & REPAIR ( ! MA*9ES1 -- ! MORE HE DIM9I%ES ! QUANTITY ( LABOR2 & ) ! QUANTITY ( LABOR ! QUANTITY ( PRODUCT1 & ) ! QUANTITY ( PRODUCT ! V]Y S\RCE ( HIS 9COME4 ,?IS IS CLE>LY %[N BY ! FOLL[+ EXAMPLE3 -- 

,TAKE AN E/ATE CONSI/+ ( >ABLE L&1 MEAD[S1 & V9EY>DS1 CONTA9+ ! DWELL+S ( ! [N] & ! T5ANT2 & WOR?1 TOGE!R ) ! F>M+ IMPLEM5TS1 ONE HUNDR$ ?\S& FRANCS1 ! RATE ( 9CREASE BE+ ?REE P]C5T4 ,IF1 9/EAD ( CONSUM+ HIS REV5UE1 ! PROPRIETOR USES IT1 NOT 9 5L>G+ BUT 9 BEAUTIFY+ HIS E/ATE1 CAN HE ANNUALLY DEM& ( HIS T5ANT AN ADDITIONAL N9ETY FRANCS ON ACC\NT ( ! ?REE ?\S& FRANCS :I* HE HAS ?US ADD$ TO HIS CAPITAL8 ,C]TA9LY NOT2 = ON SU* CONDITIONS ! T5ANT1 ?\< PRODUC+ NO MORE ?AN BE=E1 W\LD SOON BE OBLIG$ TO LABOR = NO?+1 -- :AT DO ,I SAY8 TO ACTUALLY SUFF] LOSS 9 ORD] TO HOLD HIS LEASE4 

,9 FACT1 REV5UE CAN 9CREASE ONLY AS PRODUCTIVE SOIL 9CREASES3 IT IS USELESS TO BUILD WALLS ( M>BLE1 & WORK ) PL[S ( GOLD4 ,BUT1 S9CE IT IS IMPOSSIBLE TO GO ON ACQUIR+ = EV]1 TO ADD E/ATE TO E/ATE1 TO CONT9UE ONE'S POSSESSIONS1 AS ! ,LAT9S SAID2 & S9CE1 MOREOV]1 ! PROPRIETOR ALWAYS HAS MEANS :]E) TO CAPITALIZE1 -- IT FOLL[S ?AT ! EX]CISE ( HIS RI<T F9ALLY BECOMES IMPOSSIBLE4 

,WELL1 9 SPITE ( ?IS IMPOSSIBILITY1 PROP]TY CAPITALIZES1 & 9 CAPITALIZ+ 9CREASES ITS REV5UE2 &1 )\T /OPP+ TO LOOK AT ! P>TICUL> CASES :I* OCCUR 9 COMM]CE1 MANUFACTUR+ OP]ATIONS1 & BANK+1 ,I WILL CITE A GRAV] FACT1 -- ONE :I* DIRECTLY AFFECTS ALL CITIZ5S4 ,I MEAN ! 9DEF9ITE 9CREASE ( ! BUDGET4 

,! TAXES 9CREASE EV]Y YE>4 ,IT W\LD BE DIFFICULT TO TELL 9 :I* DEP>TM5T ( ! GOV]NM5T ! EXP5SES 9CREASE2 = :O CAN BOA/ ( ANY KN[L$GE AS TO ! BUDGET8 ,ON ?IS PO9T1 ! ABLE/ F9ANCI]S CONT9UALLY DISAGREE4 ,:AT IS TO BE ?\<T1 ,I ASK1 ( ! SCI5CE ( GOV]NM5T1 :5 ITS PR(ESSORS CANNOT UND]/& ONE ANO!R'S FIGURES8 ,:ATEV] BE ! IMM$IATE CAUSES ( ?IS GR[? ( ! BUDGET1 IT IS C]TA9 ?AT TAXATION 9CREASES AT A RATE :I* CAUSES EV]YBODY TO DESPAIR4 ,EV]YBODY SEES IT1 EV]YBODY ACKN[L$GES IT2 BUT NOBODY SEEMS TO UND]/& ! PRIM>Y CAUSE4.<#b#d.> ,N[1 ,I SAY ?AT IT CANNOT BE O!RWISE1 -- ?AT IT IS NECESS>Y & 9EVITABLE4 

,A NATION IS ! T5ANT ( A RI* PROPRIETOR CALL$ ! GOV]NM5T1 TO :OM IT PAYS1 = ! USE ( ! SOIL1 A F>M-R5T CALL$ A TAX4 ,:5EV] ! GOV]NM5T MAKES W>1 LOSES OR GA9S A BATTLE1 *ANGES ! \TFIT ( ITS >MY1 ]ECTS A MONUM5T1 DIGS A CANAL1 OP5S A ROAD1 OR BUILDS A RAILWAY1 IT BORR[S MONEY1 ON :I* ! TAX-PAY]S PAY 9T]E/2 ?AT IS1 ! GOV]NM5T1 )\T ADD+ TO ITS PRODUCTIVE CAPACITY1 9CREASES ITS ACTIVE CAPITAL1 -- 9 A WORD1 CAPITALIZES AFT] ! MANN] ( ! PROPRIETOR ( :OM ,I HAVE JU/ SPOK54 

,N[1 :5 A GOV]NM5TAL LOAN IS ONCE CONTRACT$1 & ! 9T]E/ IS ONCE /IPULAT$1 ! BUDGET CANNOT BE R$UC$4 ,=1 TO ACCOMPLI% ?AT1 EI!R ! CAPITALI/S MU/ REL9QUI% !IR 9T]E/1 :I* W\LD 9VOLVE AN AB&ONM5T ( PROP]TY2 OR ! GOV]NM5T MU/ GO 9TO BANKRUPTCY1 :I* W\LD BE A FRAUDUL5T D5IAL ( ! POLITICAL PR9CIPLE2 OR IT MU/ PAY ! DEBT1 :I* W\LD REQUIRE ANO!R LOAN2 OR IT MU/ R$UCE EXP5SES1 :I* IS IMPOSSIBLE1 S9CE ! LOAN WAS CONTRACT$ = ! SOLE REASON ?AT ! ORD9>Y RECEIPTS W]E 9SUFFICI5T2 OR ! MONEY EXP5D$ BY ! GOV]NM5T MU/ BE REPRODUCTIVE1 :I* REQUIRES AN 9CREASE ( PRODUCTIVE CAPACITY1 -- A CONDITION EXCLUD$ BY \R HYPO!SIS2 OR1 F9ALLY1 ! TAX-PAY]S MU/ SUBMIT TO A NEW TAX 9 ORD] TO PAY ! DEBT1 -- AN IMPOSSIBLE ?+4 ,=1 IF ?IS NEW TAX W]E LEVI$ UPON ALL CITIZ5S ALIKE1 HALF1 OR EV5 MORE1 ( ! CITIZ5S W\LD BE UNABLE TO PAY IT2 IF ! RI* HAD TO BE> ! :OLE1 IT W\LD BE A =C$ CONTRIBUTION1 -- AN 9VASION ( PROP]TY4 ,LONG F9ANCIAL EXP]I5CE HAS %[N ?AT ! ME?OD ( LOANS1 ?\< EXCE$+LY DANG]\S1 IS MU* SUR]1 MORE CONV5I5T1 & LESS CO/LY ?AN ANY O!R ME?OD2 CONSEQU5TLY ! GOV]NM5T BORR[S1 -- ?AT IS1 GOES ON CAPITALIZ+1 -- & 9CREASES ! BUDGET4 

,!N1 A BUDGET1 9/EAD ( EV] DIM9I%+1 MU/ NECESS>ILY & CONT9UALLY 9CREASE4 ,IT IS A/ONI%+ ?AT ! ECONOMI/S1 ) ALL !IR LE>N+1 HAVE FAIL$ TO P]CEIVE A FACT SO SIMPLE & SO EVID5T4 ,IF !Y HAVE P]CEIV$ IT1 :Y HAVE !Y NEGLECT$ TO CONDEMN IT8 

,HI/ORICAL ,COMM5T4 -- ,MU* 9T]E/ IS FELT AT PRES5T 9 A F9ANCIAL OP]ATION :I* IS EXPECT$ TO RESULT 9 A R$UCTION ( ! BUDGET4 ,IT IS PROPOS$ TO *ANGE ! PRES5T RATE ( 9CREASE1 FIVE P]C5T ,LAY+ ASIDE ! POLITICO-LEGAL QUE/ION TO DEAL ONLY ) ! F9ANCIAL QUE/ION1 -- IS IT NOT TRUE ?AT1 :5 FIVE P]C5T IS *ANG$ TO F\R P]C5T1 IT WILL !N BE NECESS>Y1 = ! SAME REASONS1 TO *ANGE F\R TO ?REE2 !N ?REE TO TWO1 !N TWO TO ONE1 & F9ALLY TO SWEEP AWAY 9CREASE ALTOGE!R8 ,BUT ?AT W\LD BE ! ADV5T ( EQUALITY ( CONDITIONS & ! ABOLITION ( PROP]TY4 ,N[ IT SEEMS TO ME1 ?AT AN 9TELLIG5T NATION %\LD VOLUNT>ILY MEET AN 9EVITABLE REVOLUTION HALF WAY1 9/EAD ( SUFF]+ ITSELF TO BE DRAGG$ AFT] ! C> ( 9FLEXIBLE NECESSITY4 

,EI<? ,PROPOSITION4 ,PROP]TY IS IMPOSSIBLE1 BECAUSE ITS P[] ( ,ACCUMULATION IS 9F9ITE1 & IS EX]CIS$ ONLY OV] F9ITE QUANTITIES4  

,IF M51 LIV+ 9 EQUALITY1 %\LD GRANT TO ONE ( !IR NUMB] ! EXCLUSIVE RI<T ( PROP]TY2 & ?IS SOLE PROPRIETOR %\LD L5D ONE HUNDR$ FRANCS TO ! HUMAN RACE AT COMP\ND 9T]E/1 PAYABLE TO HIS DESC5DANTS TW5TY-F\R G5]ATIONS H5CE1 -- AT ! 5D ( SIX HUNDR$ YE>S ?IS SUM ( ONE HUNDR$ FRANCS1 AT FIVE P]C5T1 W\LD AM\NT TO #a#g1#h#e#d1#a1#g#g#g1#f FRANCS2 TWO ?\S& SIX HUNDR$ & N9ETY-SIX & ONE-?IRD TIMES ! CAPITAL ( ,FRANCE 7SUPPOS+ H] CAPITAL TO BE #d11171 OR MORE ?AN TW5TY TIMES ! VALUE ( ! T]RE/RIAL GLOBE6 

,SUPPOSE ?AT A MAN1 9 ! REIGN ( ,/4 ,L\IS1 HAD BORR[$ ONE HUNDR$ FRANCS1 & HAD REFUS$1 -- HE & HIS HEIRS AFT] HIM1 -- TO RETURN IT4 ,EV5 ?\< IT W]E KN[N ?AT ! SAID HEIRS W]E NOT ! RI<TFUL POSSESSORS1 & ?AT PRESCRIPTION HAD BE5 9T]RUPT$ ALWAYS AT ! RI<T MOM5T1 -- NEV]!LESS1 BY \R LAWS1 ! LA/ HEIR W\LD BE OBLIG$ TO RETURN ! ONE HUNDR$ FRANCS ) 9T]E/1 & 9T]E/ ON ! 9T]E/2 :I* 9 ALL W\LD AM\NT1 AS WE HAVE SE51 TO NE>LY ONE HUNDR$ & EI<T ?\S& BILLIONS4 

,EV]Y DAY1 =TUNES >E GR[+ 9 \R MID/ MU* MORE RAPIDLY ?AN ?IS4 ,! PREC$+ EXAMPLE SUPPOS$ ! 9T]E/ EQUAL TO ONE-TW5TIE? ( ! CAPITAL1 -- IT (T5 EQUALS ONE-T5?1 ONE-FIF?1 ONE-HALF ( ! CAPITAL2 & SOMETIMES ! CAPITAL ITSELF4 

,! ,F\RI]I/S -- IRRECONCILABLE 5EMIES ( EQUALITY1 :OSE P>TISANS !Y REG>D AS %>KS -- 9T5D1 BY QUADRUPL+ PRODUCTION1 TO SATISFY ALL ! DEM&S ( CAPITAL1 LABOR1 & SKILL4 ,BUT1 %\LD PRODUCTION BE MULTIPLI$ BY F\R1 T51 OR EV5 ONE HUNDR$1 PROP]TY W\LD SOON ABSORB1 BY ITS P[] ( ACCUMULATION & ! EFFECTS ( ITS CAPITALIZATION1 BO? PRODUCTS & CAPITAL1 & ! L&1 & EV5 ! LABOR]S4 ,IS ! PHALAN/]Y TO BE PROHIBIT$ FROM CAPITALIZ+ & L5D+ AT 9T]E/8 ,LET IT EXPLA91 !N1 :AT IT MEANS BY PROP]TY4 

,I WILL C>RY !SE CALCULATIONS NO F>!R4 ,!Y >E CAPABLE ( 9F9ITE V>IATION1 UPON :I* IT W\LD BE PU]ILE = ME TO 9SI/4 ,I ONLY ASK BY :AT /&>D JUDGES1 CALL$ UPON TO DECIDE A SUIT = POSSESSION1 FIX ! 9T]E/8 ,&1 DEVELOP+ ! QUE/ION1 ,I ASK1 -- 

,DID ! LEGISLATOR1 9 9TRODUC+ 9TO ! ,REPUBLIC ! PR9CIPLE ( PROP]TY1 WEI< ALL ! CONSEQU5CES8 ,DID HE KN[ ! LAW ( ! POSSIBLE8 ,IF HE KNEW IT1 :Y IS IT NOT 9 ! ,CODE8 ,:Y IS SO MU* LATITUDE ALL[$ TO ! PROPRIETOR 9 ACCUMULAT+ PROP]TY & *>G+ 9T]E/1 -- TO ! JUDGE 9 RECOGNIZ+ & FIX+ ! DOMA9 ( PROP]TY1 -- TO ! ,/ATE 9 ITS P[] TO LEVY NEW TAXES CONT9UALLY8 ,AT :AT PO9T IS ! NATION JU/IFI$ 9 REPUDIAT+ ! BUDGET1 ! T5ANT HIS F>M-R5T1 & ! MANUFACTUR] ! 9T]E/ ON HIS CAPITAL8 ,H[ F> MAY ! IDL] TAKE ADVANTAGE ( ! LABOR]8 ,:]E DOES ! RI<T ( SPOLIATION BEG91 & :]E DOES IT 5D8 ,:5 MAY ! PRODUC] SAY TO ! PROPRIETOR1 0,I [E Y\ NO?+ MORE08 ,:5 IS PROP]TY SATISFI$8 ,:5 MU/ IT CEASE TO /EAL8 

,IF ! LEGISLATOR DID KN[ ! LAW ( ! POSSIBLE1 & DISREG>D$ IT1 :AT MU/ BE ?\<T ( HIS JU/ICE8 ,IF HE DID NOT KN[ IT1 :AT MU/ BE ?\<T ( HIS WISDOM8 ,EI!R WICK$ OR FOOLI%1 H[ CAN WE RECOGNIZE HIS AU?ORITY8 

,IF \R *>T]S & \R CODES >E BAS$ UPON AN ABSURD HYPO!SIS1 :AT IS TAU<T 9 ! LAW-S*OOLS8 ,:AT DOES A JUDGM5T ( ! ,C\RT ( ,APPEAL AM\NT TO8 ,AB\T :AT DO \R ,*AMB]S DELIB]ATE8 ,:AT IS POLITICS8 ,:AT IS \R DEF9ITION ( A /ATESMAN8 ,:AT IS ! MEAN+ ( JURISPRUD5CE8 ,%\LD WE NOT RA!R SAY JURISIGNORANCE8 

,IF ALL \R 9/ITUTIONS >E BAS$ UPON AN ]ROR 9 CALCULATION1 DOES IT NOT FOLL[ ?AT !SE 9/ITUTIONS >E SO MANY %AMS8 ,& IF ! 5TIRE SOCIAL /RUCTURE IS BUILT UPON ?IS ABSOLUTE IMPOSSIBILITY ( PROP]TY1 IS IT NOT TRUE ?AT ! GOV]NM5T UND] :I* WE LIVE IS A *IM]A1 & \R PRES5T SOCIETY A UTOPIA8 

,N9? ,PROPOSITION4 ,PROP]TY IS IMPOSSIBLE1 BECAUSE IT IS P[]LESS AGA9/ ,PROP]TY4 

,I4 ,BY ! ?IRD COROLL>Y ( \R AXIOM1 9T]E/ TELLS AGA9/ ! PROPRIETOR AS WELL AS ! /RANG]4 ,?IS ECONOMICAL PR9CIPLE IS UNIV]SALLY ADMITT$4 ,NO?+ SIMPL] AT FIR/ BLU%2 YET1 NO?+ MORE ABSURD1 MORE CONTRADICTORY 9 T]MS1 OR MORE ABSOLUTELY IMPOSSIBLE4 

,! MANUFACTUR]1 IT IS SAID1 PAYS HIMSELF ! R5T ON HIS H\SE & CAPITAL4 ,HE PAYS HIMSELF2 ?AT IS1 HE GETS PAID BY ! PUBLIC :O BUY HIS PRODUCTS4 ,=1 SUPPOSE ! MANUFACTUR]1 :O SEEMS TO MAKE ?IS PR(IT ON HIS PROP]TY1 WI%ES ALSO TO MAKE IT ON HIS M]*&ISE1 CAN HE !N PAY HIMSELF ONE FRANC = ?AT :I* CO/ HIM N9ETY C5TIMES1 & MAKE MONEY BY ! OP]ATION8 ,NO3 SU* A TRANSACTION W\LD TRANSF] ! M]*ANT'S MONEY FROM HIS RI<T H& TO HIS LEFT1 BUT )\T ANY PR(IT :ATEV]4 

,N[1 ?AT :I* IS TRUE ( A S+LE 9DIVIDUAL TRAD+ ) HIMSELF IS TRUE ALSO ( ! :OLE BUS9ESS WORLD4 ,=M A *A9 ( T51 FIFTE51 TW5TY PRODUC]S2 AS MANY AS Y\ WI%4 ,IF ! PRODUC] ,A MAKES A PR(IT \T ( ! PRODUC] ,B4 ,B'S LOSS MU/1 ACCORD+ TO ECONOMICAL PR9CIPLES1 BE MADE UP BY ,C1 ,C'S BY ,D2 & SO ON ?R\< TO ,Z4 

,BUT BY :OM WILL ,Z BE PAID = ! LOSS CAUS$ HIM BY ! PR(IT *>G$ BY ,A 9 ! BEG9N+8 ,BY ! CONSUM]1 REPLIES ,SAY4 ,CONTEMPTIBLE EQUIVOCATION6 ,IS ?IS CONSUM] ANY O!R1 !N1 ?AN ,A1 ,B4 ,C1 ,D1 @&C41 OR ,Z8 ,BY :OM WILL ,Z BE PAID8 ,IF HE IS PAID BY ,A1 NO ONE MAKES A PR(IT2 CONSEQU5TLY1 !RE IS NO PROP]TY4 ,IF1 ON ! CONTR>Y1 ,Z BE>S ! BURD5 HIMSELF1 HE CEASES TO BE A MEMB] ( SOCIETY2 S9CE IT REFUSES HIM ! RI<T ( PROP]TY & PR(IT1 :I* IT GRANTS TO ! O!R ASSOCIATES4 

,S9CE1 !N1 A NATION1 LIKE UNIV]SAL HUMANITY1 IS A VA/ 9DU/RIAL ASSOCIATION :I* CANNOT ACT \TSIDE ( ITSELF1 IT IS CLE> ?AT NO MAN CAN 5RI* HIMSELF )\T IMPOV]I%+ ANO!R4 ,=1 9 ORD] ?AT ! RI<T ( PROP]TY1 ! RI<T ( 9CREASE1 MAY BE RESPECT$ 9 ! CASE ( ,A1 IT MU/ BE D5I$ TO ,Z2 ?US WE SEE H[ EQUALITY ( RI<TS1 SEP>AT$ FROM EQUALITY ( CONDITIONS1 MAY BE A TRU?4 ,! 9IQUITY ( POLITICAL ECONOMY 9 ?IS RESPECT IS FLAGRANT4 0,:5 ,I1 A MANUFACTUR]1 PUR*ASE ! LABOR ( A WORK+MAN1 ,I DO NOT 9CLUDE HIS WAGES 9 ! NET PRODUCT ( MY BUS9ESS2 ON ! CONTR>Y1 ,I D$UCT !M4 ,BUT ! WORK+MAN 9CLUDES !M 9 HIS NET PRODUCT444 07,SAY3 ,POLITICAL ,ECONOMY47 

,?AT MEANS ?AT ALL :I* ! WORK+MAN GA9S IS NET PRODUCT2 BUT ?AT ONLY ?AT P>T ( ! MANUFACTUR]'S GA9S IS NET PRODUCT1 :I* REMA9S AFT] D$UCT+ HIS WAGES4 ,BUT :Y IS ! RI<T ( PR(IT CONF9$ TO ! MANUFACTUR]8 ,:Y IS ?IS RI<T1 :I* IS AT BOTTOM ! RI<T ( PROP]TY ITSELF1 D5I$ TO ! WORK+MAN8 ,9 ! T]MS ( ECONOMICAL SCI5CE1 ! WORK+MAN IS CAPITAL4 ,N[1 ALL CAPITAL1 BEYOND ! CO/ ( ITS MA9T5ANCE & REPAIR1 MU/ BE> 9T]E/4 ,?IS ! PROPRIETOR TAKES C>E TO GET1 BO? = HIS CAPITAL & = HIMSELF4 ,:Y IS ! WORK+MAN PROHIBIT$ FROM *>G+ A LIKE 9T]E/ = HIS CAPITAL1 :I* IS HIMSELF8 

,PROP]TY1 !N1 IS 9EQUALITY ( RI<TS2 =1 IF IT W]E NOT 9EQUALITY ( RI<TS1 IT W\LD BE EQUALITY ( GOODS1 -- 9 O!R WORDS1 IT W\LD NOT EXI/4 ,N[1 ! *>T] GU>ANTEES TO ALL EQUALITY ( RI<TS4 ,!N1 BY ! *>T]1 PROP]TY IS IMPOSSIBLE4 

,I,I4 ,IS ,A1 ! PROPRIETOR ( AN E/ATE1 5TITL$ BY ! FACT ( HIS PROPRIETOR%IP TO TAKE POSSESSION ( ! FIELD BELONG+ TO ,B4 HIS NEI<BOR8 0,NO10 REPLY ! PROPRIETORS2 0BUT :AT HAS ?AT TO DO ) ! RI<T ( PROP]TY80 ,?AT ,I %ALL %[ Y\ BY A S]IES ( SIMIL> PROPOSITIONS4 

,HAS ,C1 A HATT]1 ! RI<T TO =CE ,D1 HIS NEI<BOR & ALSO A HATT]1 TO CLOSE HIS %OP1 & CEASE HIS BUS9ESS8 ,NOT ! LEA/ 9 ! WORLD4 

,BUT ,C WI%ES TO MAKE A PR(IT ( ONE FRANC ON EV]Y HAT1 :ILE ,D IS CONT5T ) FIFTY C5TIMES4 ,IT IS EVID5T ?AT ,D'S MOD]ATION IS 9JURI\S TO ,C'S EXTRAVAGANT CLAIMS4 ,HAS ! LATT] A RI<T TO PREV5T ,D FROM SELL+8 ,C]TA9LY NOT4 

,S9CE ,D IS AT LIB]TY TO SELL HIS HATS FIFTY C5TIMES *EAP] ?AN ,C IF HE *OOSES1 ,C 9 HIS TURN IS FREE TO R$UCE HIS PRICE ONE FRANC4 ,N[1 ,D IS POOR1 :ILE ,C IS RI*2 SO ?AT AT ! 5D ( TWO OR ?REE YE>S ,D IS RU9$ BY ?IS 9TOL]ABLE COMPETITION1 & ,C HAS COMPLETE CONTROL ( ! M>KET4 ,CAN ! PROPRIETOR ,D GET ANY R$RESS FROM ! PROPRIETOR ,C8 ,CAN HE BR+ A SUIT AGA9/ HIM TO RECOV] HIS BUS9ESS & PROP]TY8 ,NO2 = ,D C\LD HAVE DONE ! SAME ?+1 HAD HE BE5 ! RI*] ( ! TWO4 

,ON ! SAME GR\ND1 ! L>GE PROPRIETOR ,A MAY SAY TO ! SMALL PROPRIETOR ,B3 0,SELL ME Y\R FIELD1 O!RWISE Y\ %ALL NOT SELL Y\R :EAT10 -- & ?AT )\T DO+ HIM ! LEA/ WRONG1 OR GIV+ HIM GR\ND = COMPLA9T4 ,SO ?AT ,A CAN DEV\R ,B IF HE LIKES1 = ! V]Y REASON ?AT ,A IS /RONG] ?AN ,B4 ,CONSEQU5TLY1 IT IS NOT ! RI<T ( PROP]TY :I* 5ABLES ,A & ,C TO ROB ,B & ,D1 BUT ! RI<T ( MI<T4 ,BY ! RI<T ( PROP]TY1 NEI!R ! TWO NEI<BORS ,A & ,B1 NOR ! TWO M]*ANTS ,C & ,D1 C\LD H>M EA* O!R4 ,!Y C\LD NEI!R DISPOSSESS NOR DE/ROY ONE ANO!R1 NOR GA9 AT ONE ANO!R'S EXP5SE4 ,! P[] ( 9VASION LIES 9 SUP]IOR /R5G?4 

,BUT IT IS SUP]IOR /R5G? ALSO :I* 5ABLES ! MANUFACTUR] TO R$UCE ! WAGES ( HIS EMPLOYES1 & ! RI* M]*ANT & WELL-/OCK$ PROPRIETOR TO SELL !IR PRODUCTS = :AT !Y PLEASE4 ,! MANUFACTUR] SAYS TO ! LABOR]1 0,Y\ >E AS FREE TO GO ELSE:]E ) Y\R S]VICES AS ,I AM TO RECEIVE !M4 ,I (F] Y\ SO MU*40 ,! M]*ANT SAYS TO ! CU/OM]1 0,TAKE IT OR LEAVE IT2 Y\ >E MA/] ( Y\R MONEY1 AS ,I AM ( MY GOODS4 ,I WANT SO MU*40 ,:O WILL YIELD8 ,! WEAK]4 

,!RE=E1 )\T =CE1 PROP]TY IS P[]LESS AGA9/ PROP]TY1 S9CE )\T =CE IT HAS NO P[] TO 9CREASE2 !RE=E1 )\T =CE1 PROP]TY IS NULL & VOID4 

,HI/ORICAL ,COMM5T4 -- ,! /RUGGLE BETWE5 COLONIAL & NATIVE SUG>S FURNI%ES US A /RIK+ EXAMPLE ( ?IS IMPOSSIBILITY ( PROP]TY4 ,LEAVE !SE TWO 9DU/RIES TO !MSELVES1 & ! NATIVE MANUFACTUR] WILL BE RU9$ BY ! COLONI/4 ,TO MA9TA9 ! BEET-ROOT1 ! CANE MU/ BE TAX$3 TO PROTECT ! PROP]TY ( ! ONE1 IT IS NECESS>Y TO 9JURE ! PROP]TY ( ! O!R4 ,! MO/ REM>KABLE FEATURE ( ?IS BUS9ESS IS PRECISELY ?AT TO :I* ! LEA/ ATT5TION IS PAID2 NAMELY1 ?AT1 9 ONE WAY OR ANO!R1 PROP]TY HAS TO BE VIOLAT$4 ,IMPOSE ON EA* 9DU/RY A PROPORTIONAL TAX1 SO AS TO PRES]VE A BALANCE 9 ! M>KET1 & Y\ CREATE A MAXIMUM PRICE1 -- Y\ ATTACK PROP]TY 9 TWO WAYS4 ,ON ! ONE H&1 Y\R TAX 9T]F]ES ) ! LIB]TY ( TRADE2 ON ! O!R1 IT DOES NOT RECOGNIZE EQUALITY ( PROPRIETORS4 ,9DEMNIFY ! BEET-ROOT1 Y\ VIOLATE ! PROP]TY ( ! TAX-PAY]4 ,CULTIVATE ! TWO V>IETIES ( SUG> AT ! NATION'S EXP5SE1 JU/ AS DIFF]5T V>IETIES ( TOBACCO >E CULTIVAT$1 -- Y\ ABOLI% ONE SPECIES ( PROP]TY4 ,?IS LA/ C\RSE W\LD BE ! SIMPL] & BETT] ONE2 BUT1 TO 9DUCE ! NATIONS TO ADOPT IT1 REQUIRES SU* A COOP]ATION ( ABLE M9DS & G5]\S HE>TS AS IS AT PRES5T \T ( ! QUE/ION4 

,COMPETITION1 SOMETIMES CALL$ LIB]TY ( TRADE1 -- 9 A WORD1 PROP]TY 9 EX*ANGE1 -- WILL BE = A LONG TIME ! BASIS ( \R COMM]CIAL LEGISLATION2 :I*1 FROM ! ECONOMICAL PO9T ( VIEW1 EMBRACES ALL CIVIL LAWS & ALL GOV]NM5T4 ,N[1 :AT IS COMPETITION8 ,A DUEL 9 A CLOS$ FIELD1 :]E >MS >E ! TE/ ( RI<T4 

0,:O IS ! LI>1 -- ! ACCUS$ OR ! ACCUS]80 SAID \R B>B>\S ANCE/ORS4 0,LET !M FI<T IT \T10 REPLI$ ! /ILL MORE B>B>\S JUDGE2 0! /RONG] IS RI<T40 

,:I* ( US TWO %ALL SELL SPICES TO \R NEI<BOR8 0,LET EA* (F] !M = SALE10 CRIES ! ECONOMI/2 0! %>P]1 OR ! MORE CUNN+1 IS ! MORE HONE/ MAN1 & ! BETT] M]*ANT40 

,SU* IS ! EXACT SPIRIT ( ! ,CODE ,NAPOLEON4 

,T5? ,PROPOSITION4 ,PROP]TY IS IMPOSSIBLE1 BECAUSE IT IS ! ,NEGATION ( EQUALITY4 

,! DEVELOPM5T ( ?IS PROPOSITION WILL BE ! RESUME ( ! PREC$+ ONES4 

#a4 ,IT IS A PR9CIPLE ( ECONOMICAL JU/ICE1 ?AT PRODUCTS >E B\<T ONLY BY PRODUCTS4 ,PROP]TY1 BE+ CAPABLE ( DEF5SE ONLY ON ! GR\ND ?AT IT PRODUCES UTILITY1 IS1 S9CE IT PRODUCES NO?+1 = EV] CONDEMN$4 

#b4 ,IT IS AN ECONOMICAL LAW1 ?AT LABOR MU/ BE BALANC$ BY PRODUCT4 ,IT IS A FACT ?AT1 ) PROP]TY1 PRODUCTION CO/S MORE ?AN IT IS WOR?4 

#c4 ,ANO!R ECONOMICAL LAW3 ,! CAPITAL BE+ GIV51 PRODUCTION IS MEASUR$1 NOT BY ! AM\NT ( CAPITAL1 BUT BY PRODUCTIVE CAPACITY4 ,PROP]TY1 REQUIR+ 9COME TO BE ALWAYS PROPORTIONAL TO CAPITAL )\T REG>D TO LABOR1 DOES NOT RECOGNIZE ?IS RELATION ( EQUALITY BETWE5 EFFECT & CAUSE4 

#d & #e4 ,LIKE ! 9SECT :I* SP9S ITS SILK1 ! LABOR] NEV] PRODUCES = HIMSELF ALONE4 ,PROP]TY1 DEM&+ A D\BLE PRODUCT & UNABLE TO OBTA9 IT1 ROBS ! LABOR]1 & KILLS HIM4 

#f4 ,NATURE HAS GIV5 TO EV]Y MAN BUT ONE M9D1 ONE HE>T1 ONE WILL4 ,PROP]TY1 GRANT+ TO ONE 9DIVIDUAL A PLURALITY ( VOTES1 SUPPOSES HIM TO HAVE A PLURALITY ( M9DS4 

#g4 ,ALL CONSUMPTION :I* IS NOT REPRODUCTIVE ( UTILITY IS DE/RUCTION4 ,PROP]TY1 :E!R IT CONSUMES OR HO>DS OR CAPITALIZES1 IS PRODUCTIVE ( 9UTILITY1 -- ! CAUSE ( /]ILITY & DEA?4 

#h4 ,! SATISFACTION ( A NATURAL RI<T ALWAYS GIVES RISE TO AN EQUATION2 9 O!R WORDS1 ! RI<T TO A ?+ IS NECESS>ILY BALANC$ BY ! POSSESSION ( ! ?+4 ,?US1 BETWE5 ! RI<T TO LIB]TY & ! CONDITION ( A FREE MAN !RE IS A BALANCE1 AN EQUATION2 BETWE5 ! RI<T TO BE A FA!R & PAT]NITY1 AN EQUATION2 BETWE5 ! RI<T TO SECURITY & ! SOCIAL GU>ANTEE1 AN EQUATION4 ,BUT BETWE5 ! RI<T ( 9CREASE & ! RECEIPT ( ?IS 9CREASE !RE IS NEV] AN EQUATION2 = EV]Y NEW 9CREASE C>RIES ) IT ! RI<T TO ANO!R1 ! LATT] TO A ?IRD1 & SO ON = EV]4 ,PROP]TY1 NEV] BE+ ABLE TO ACCOMPLI% ITS OBJECT1 IS A RI<T AGA9/ ,NATURE & AGA9/ REASON4 

#i4 ,F9ALLY1 PROP]TY IS NOT SELF-EXI/5T4 ,AN EXTRANE\S CAUSE -- EI!R =CE OR FRAUD -- IS NECESS>Y TO ITS LIFE & ACTION4 ,9 O!R WORDS1 PROP]TY IS NOT EQUAL TO PROP]TY3 IT IS A NEGATION -- A DELUSION -- ,N,O,?,+4 

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,*RONOLOGY 3 
,NOVEMB] #c1 #ahci 3 ,MEMOIR #a1 ,*APT] #d -- ,PUBLICATION4 
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