Millions  of  our  people  have  purchased
stoves,  sewing  machines,  furniture,  and
other  articles,  on  contract,  and  in  every
instance  they  are  obliged  to  pay  these
hi  eh     rates     of    interest.     So    far    as     the


REMEDY.  in

wage-workers  are  concerned,  a  reduction
in  these  high  rates  of  interest  would  be
equivalent  to  an  increase  of  wages,  be-
cause it  would  permit  them  to  save  the
amount  of  the  reduction.  It  would  bring
about  a  material  reduction  in  rents,  and
would  reduce  the  rates  of  interest  now
paid  by  our  municipal,  state,  and  national
governments,  and  thus  prove  a  benefit  to
the  taxpayers.  The  people  would  have
more  money  to  disburse  for  articles  that
require  labor  to  produce.  This  would  in-
crease the  demand  for  labor,  and  probably
advance  the  rate  of  wages..
Most    of    the    laws    fixing    these    high
rates    of    interest    were     enacted    a     good


ii2  THE  WAGE-WORKERS

many  years  ago,  when  money  was  scarce
in  this  country,  and  it  was  necessary  to
offer  some  inducement  to  foreign  capital
to  allure  it  to  onr  shores.  The  necessity
which  gave  birth  to  these  laws  has  long-
since  passed  awray.  They  are  maintained
to-day  simply  for  the  benefit  of  the  bro-
kers, bankers,  real  estate  speculators,  for-
eign capitalists,  the  people  who  rent  prop-
erty, and  those  who  loan  money.  They
are  obnoxious  to  the  masses  of  the
people,  are  burdensome,  and  should  be
repealed.
REMEDY.  113

VII. — Our  Cities  Should  Own  the
Street  Railways,  and  Run  them
for  the  Benefit  of  the  People.
