So Adam Smith, speaking of "the Origin and Use of Money" (Wealth of Nations, p. 33), says:

In order to avoid the inconveniency of such situations, every prudent man in every period of society, after the first establishment of the divisions of labor, must naturally have endeavored to manage his affairs in such a manner as to have at all times by him, besides the peculiar produce of his own industry, a certain quantity of some one commodity or other, such as he imagined few people would be likely to refuse in exchange for the produce of their industry.

Labor is the one paramount force which develops the resources of the world. It produces all the wealth; it pays, in the last analysis, all the taxes—National, State and municipal; it produces the wealth which sustains all the institutions of learning, as well as ministers to the profligate luxuries of the idlers and sharpers who add nothing to the wealth of society, but on the contrary constantly take from it, and who have not inaptly been termed by Dr. Howard Crosby the "dangerous classes;" it makes the wealth which gives a few men millions of dollars as their share, either as rental or usurious interest upon capital invested in the production of wealth; and it creates the vast surplus which lies in the coffers of the Federal and State treasuries of our land.

The producing agency, without which there could be no wealth; without which the landlord could exact no rent and capital could draw no interest, the producing agency alone receives an inadequate proportion of the wealth it produces. The man who conducts any business requiring labor and capital not only exacts an unjust proportion of the laborer's hire, but takes more than he justly should as interest upon his capital and as reward for his own time and labor, often amounting to no trouble or labor, he delegating to other hands, such as foremen or overseers, the absolute control of his investment. Yet, the man who invests capital not only derives, in a majority of cases, a sufficient income to enable him to live in more than comfort but to have a healthy bank account; while the laborer, who alone makes capital draw interest by giving it employment in developing the resources of nature, derives only a bare subsistence, frequently not sufficient to meet the absolute necessaries of his daily life. His wife and children must be content with life simply—bare, cold life—often without any of the conveniences or the commonest luxuries which make existence anything more than the curse it is to a large majority of humankind. This is peculiarly true of the condition of the masses of the Old World, and is fast becoming true in our own young and vigorous country.

In every quarter of the globe the cry of depressed and defrauded labor is heard. The enormous drain upon the producing agents necessary to maintain in idleness and luxury the great capitalists of the world who accumulated their ill-gotten wealth by fraud, perjury and "conquest," so called, grinds the producing agent down to the lowest possible point at which he can live and still produce. The millionaires of the world, so called "aristocracies," and the taxes imposed by sovereign states to liquidate obligations more frequently contracted to enslave than to ameliorate the conditions of mankind, are a constant drain which comes ultimately out of the laboring classes in every case.

What are millionaires, any way, but the most dangerous enemies of society, always eating away its entrails, like the cultures that preyed upon the chained Prometheus? Take our own breed of these parasites; note how they grind down the stipend they are compelled to bestow upon the human tools they must use to still further swell their ungodly gains! Note how they take advantage of the public; how they extort, with Shylock avarice, every penny they possibly can from those who are compelled to use the appliances which wealth enables them to contrive for the public convenience and comfort; how they corrupt legislatures and dictate to the unscrupulous minions of the law. The Athenians were wise who enacted into law the principle that when a citizen became too powerful or rich to be controlled within proper bounds, the safety of society demanded that he should be exiled—sent where his power or riches could not be used to the detriment of his fellow-citizens. Should such a rule be applied to-day, society in every land could disgorge with much advantage the men who ride the people as the Old Man of the Sea rode Sindbad the luckless sailor. But our civilization is built upon a higher conception of individual right and immunity; there is now no limit to the right of one man to rob another of the produce of his labor or his natural and conferred rights. Not only may individuals rob and plunder their fellows with absolute impunity, but our laws have put breath into that soulless thing which has become notoriously infamous as a "corporation." Around this thing, this engine of extortion and oppression, our laws have placed bulwarks which the defrauded laborer, the widow and orphan, and even the sovereign public, cannot overleap. Here is where Monopoly first shows its cormorant head.

If millionaires are enemies of society, and I assume that they are—not because they have property, but because, as a rule, they have acquired it by unjust processes and use it tyrannically—what excuse have we for aristocracies, an idle class, a privileged class, who toil not, nor spin? What is a recognized aristocracy, such as England maintains? From what perennial fountain did it draw its nobility and wealth? Came they not through Norman conquest and robbery? Who pay the heavy taxes levied upon the people to support the privileged classes of England? The royal revenues and princely preserves, are they not supported out of the sweat of the poorer classes, upon whom all the burdens of society fall at last? And why should there be royal revenues and princely preserves? Do they add anything to the wealth of a nation or the happiness of a people? Let us see.

Brassey (Sir Thomas), in his book on Work and Wages, p. 71, says:

The Irish Poor Law Commissioners stated that the average produce of the soil in Ireland was not much above one half the average produce in England, whilst the number of laborers employed in agriculture was, in proportion to the quantity of land under cultivation more than double, viz.: as five to two. Thus ten laborers in Ireland raised only the same quantity of produce that four laborers raised in England, and this produce was generally of an inferior quality.