From the June 1927 issue of the Socialist Standard
Readers and sympathisers in New York are invited to communicate with the Socialist Educational Society at 557, Amboy Street, Brooklyn, New York.
“Reduced me to the cruel necessity of destroying my machine altogether, or giving it up to the public. To destroy it I could not think of, to give up that for which I had laboured so long was cruel. I had no patent, nor the means of purchasing one. In preference to destroying it I gave it to the public.” (National Dictionary of Biographies, Vol. XIII.)
“The broad truth remains that taxes on commodities tend as by a law of nature to be passed on to the consumers.” (Daily Chronicle, 18/4/27.)
“Really the country is bankrupt. It will not mend until public expenditure is lowered, taxes reduced and the costs of industry diminished ” —Ibid.
“… to increase the price is to risk a serious contraction of the market. . . Where competition prevails the seller will hesitate to add the equivalent of the tax to his prices lest his rivals should continue to charge the old price and so capture the market.”—Ibid.
“and this is the crux of the matter, that they are, as a rule, already charging the highest prices consistent with maximum profits . . . The case of the “benevolent Monopolist who has been deliberately and consciously charging less than his strict financial interests would permit, but under the stress of income tax is compelled to raise his prices, is so rare that we may disregard the effects on the general position.”— Ibid.
“Security of tenure for the farmer, compensation for improvements, reduced taxation, co-operative marketing, stability of prices, cheap State credit, and all the other medicines offered to the capitalist groups in agriculture—all of these are advantages for one or other of the capitalist groups, but may mean little to the workers. . . In fact, these proposed measures, if successfully applied, would strengthen the position of the farmers, and give them greater advantages in their struggle against the workers.”
“Never was there a less scientific mind than Marx nor a less scientific book than Capital .”
“No doubt Marx realised that the law of determinism, if valid, would tend to paralyse all revolutionary action by making us condone the brutalities of capitalism on the ground that those responsible for them wire automata moved by some impersonal force called history.”
” Further we would warn future readers that the details of the evidence are in many cases not only dull, but of a trivial and even ludicrous kind.” ‘ (Proceedings S.P.R., Vol. 1, page 118.)
“That to nationalise important industries in conditions which resemble those which prevail to-day would be a disappointing and even perilous proceeding.” (p. 3.)
“The industry of coal-mining is overmanned, and is carrying to-day a burden of surplus labour of anything over 100,000 men. A national administration would have to make its choice. It might maintain the uneconomic pits, risk the consequences of over-production, and continue to carry the burden of this surplus labour. In that case, it would either pay low wages or require a subsidy. The other alternative before it would be to close down the uneconomic pits and turn a big body of men adrift.” (p. 4.)
“Labour when it sells itself as a commodity in the market must usually accept a price which varies according to its scarcity.” (p. 6.)
“In the last resort it is on the organised refusal of men to work for less than a living wage that our hope of securing it lies.’ (p. 7.)
“Mr. Hoover, in the annual report of his department for 1925, has published an official analysis of American prices and wages. Taking 100 as the index of the year 1913, he shows that wholesale prices had risen in 1924 to 150, while wages had risen to 228.” (p. 48.)
“At the first distant signs of a slump, it must be the duty of the bank slightly to expand the volume of credit and to lower its price; at the first distant signs of a boom, it will gently apply restrictive measures. Our assumption is that in this way the price level can be kept steady, and the general level of employment constant.”
“It is important to note that family allowances provide the only hopeful method of realising the ideal of ‘equal pay for equal work’ as between women and men. There would, for example, be no reasonable objection to equal salaries for men and women teachers if the children of married teachers were provided for in this way.” (p. 26.)
“A sound doctrine for the worker, is to give honestly and fully a fair day’s work for a fair day’s pay.The best interests of the workers lie in the acceptance of the doctrine that unrestricted output with accepted humane terms of labour is unquestionably in the worker’s interest. Their chance of better conditions is greater under a state of abundance than it possibly could be under a state of scarcity. Scarcity is the intimate friend of the profiteer.”
“It is estimated that on cotton alone the loss on this season’s crop will be £80,000,000, and that thousands of farmers are practically in a state of bankruptcy, and are at the mercy of small banks.”—(Daily News, Oct. 9th, 1926.)
“The Government has arranged a loan of £6,000,000 to enable the cotton farmers to hold back cotton from the markets, and, by artificially reducing the supply, to increase prices.”
“In addition to the plan for withholding the present crop and feeding it slowly into the market at inflated prices proposals are being made for limiting next year’s crop.One proposal is that next year’s crop shall be cut 25 per cent. by limiting sowing.”