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At present you must note that all the amazing machinery which we have invented has served only to increase the amount of profit-bearing wares; in other words, to increase the amount of profit pouched by individuals for their own advantage, part of which profit they use as capital for the production of more profit, with ever the same waste attached to it; and part as private riches or means for luxurious living, which again is sheer waste is in fact to be looked on as a kind of bonfire on which rich men burn up the product of the labour they have fleeced from the workers beyond what they themselves can use.
There are to-day, unlike in former ages, actually millions of people who possess not merely inert property, but who possess rent-earning, profit-bearing property; and the danger with which we are confronted now is not at all whether we shall go too fast.
Nowhere else in the world, except, perhaps, in France and the United States, are there such vast numbers of persons who are holders of interest-bearing, profit-bearing, rent-earning property, and the whole tendency of civilisation and of free institutions is to an ever-increasing volume of production and an increasingly wide diffusion of profit.
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