17 
actively engaged in Production has to be met out of the surplus 
over their own consumption produced by those citizens acti 
vely engaged in the process of Production. Economic con 
siderations pure and simple would dictate' the destruction of 
every useless or non-productive member of the Nation. But, 
as earlier stated, economic considerations are inextricably 
mixed up with ethical considerations. Both economic and 
ethical considerations appear, however, to dictate as a prin 
ciple of statesmanship the reduction to its minimum of the 
proportion of non-producers to producers, as thereby the 
greatest mass of wealth will be produced and the standard of 
life raised for the Nation’s citizens as a whole. Statesman 
ship, therefore, indicates the extinction of the Debt as sound 
policy. 
We can now reply to our main question (No. 2), “ What 
would be the resultant gain of abolishing the National Debt? ” 
1. The abolition of a burden equal to the support of two 
million idle mouths. 
2. The reduction of the rate of interest payable by Indus 
try and Commerce to one-half its present rate. 
3. The conversion of a non-productive Rentier Class into 
a class of useful capitalists through the economic pressure of 
a low return on capital at loan. 
4. The placing of the country in an unequalled position 
for industrial competition with other Nations possessing 
National Debts through lowering of the cost of production 
consequent on the obtaining of Capital cheaply. 
Question No. 3. 
We come now to the consideration of main question 
No. 3, “Can the Debt be abolished without inflicting injus-