The Socialism of to-day

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Monograph

Identifikator:: 835096955

URN:: urn:nbn:de:zbw-retromon-28834

Document type:: Monograph

Author:: Laveleye, Émile de

Title:: The Socialism of to-day

Place of publication:: London

Publisher:: Field & Tuer

Year of publication:: 1884

Scope:: 1 Online-Ressource (XLIV, 331 S.)

Collection:: Economics Books

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F FERDINAND LASSALLE. 65 subsidy, or guarantee a minimum interest to the company ? It would require a smaller advance for co-operative societies than for railways. Lassalle estimated that one hundred millions of thalers would suffice for Prussia, and added that it would cost the tax-payers nothing. According to him, there should be one pand central bank established, having a monopoly of the issue of notes, so that it could easily circulate three hundred million thalers upon a reserve of one-third. Thus it would hav^ for the purpose of loans to co-operative societies, two hundred millón thalers, which would have cost it nothing. I hese societies should first be established in the districts best adapted to them by reason of the nature of the trade carried on in them, the density of the population, and the disposition of the labourers. Gradually other societies would be founded m all branches of labour, and even in the rural districts. Agriculture, when conducted on a large scale, yields a larger net produce ; but it has this drawback, it is incompatible with small properties. Agricultural co-operation would reunite he advantages of the petite and of Úiq grande culture, and thus transform the entire agrarian system to the advantage of the whole community. With one hundred millions of thalers, the necessary industrial capital could be supplied to four hundred thousand working men, and with the annual interest, at five per cent., namely, five millions, the benefits of the association might be annually extended to twenty thousand new work ing men and their families. These societies would establish among themselves relations of joint responsibility and credit, Which would insure to them great solidity. Thus, after the apse of a short time, instead of offering a spectacle of capi- miists and labourers hostile to each other, the nation would be tirely composed of working-men capitalists, grouped together to n? ‘"u would by no means have play the part of director or contractor of industry: far less, eed, than it does at present in the case of the railways ch It works. All It would have to do would be to examine conf statutes of the societies, and to exercise a week ° Kthe funds advanced. Each e workmen would receive the wages usual in the

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