author - "Edward Bellamy"
the ancient methods of industry madethis possible would delay us too much. I shall only stop now tosay that interest on investments was a species of tax in perpetuityupon the product of those engaged in industry which a personpossessing or inheriting money was able to levy. It must not besupposed that an arrangement which seems so unnatural andpreposterous according to modern notions was never criticized byyour ancestors. It had been the effort of lawgivers and prophetsfrom the earliest ages to abolish interest, or at least to limit it tothe smallest possible rate. All these efforts had, however, failed,as they necessarily must so long as the ancient social organizationsprevailed. At the time of which I write, the latter part ofthe nineteenth century, governments had generally given uptrying to regulate the subject at all.
By way of attempting to give the reader some general impressionof the way people lived together in those days, andespecially of the relations of the rich and poor to one
the ancient methods of industry madethis possible would delay us too much. I shall only stop now tosay that interest on investments was a species of tax in perpetuityupon the product of those engaged in industry which a personpossessing or inheriting money was able to levy. It must not besupposed that an arrangement which seems so unnatural andpreposterous according to modern notions was never criticized byyour ancestors. It had been the effort of lawgivers and prophetsfrom the earliest ages to abolish interest, or at least to limit it tothe smallest possible rate. All these efforts had, however, failed,as they necessarily must so long as the ancient social organizationsprevailed. At the time of which I write, the latter part ofthe nineteenth century, governments had generally given uptrying to regulate the subject at all.
By way of attempting to give the reader some general impressionof the way people lived together in those days, andespecially of the relations of the rich and poor to one