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 a precarious title. But this precarious condition is an injustice, for it implies an inequality in the bargain. The laborer's wages exceed but little his running expenses, and do not assure him wages for to-morrow; while the capitalist finds in the instrument produced by the laborer a pledge of independence and security for the future.

Now, this reproductive leaven—this eternal germ of life, this preparation of the land and manufacture of implements for production—constitutes the debt of the capitalist to the producer, which he never pays; and it is this fraudulent denial which causes the poverty of the laborer, the luxury of idleness, and the inequality of conditions. This it is, above all other things, which has been so fitly named the exploitation of man by man.

One of three things must be done. Either the laborer must be given a portion of the product in addition to his wages; or the employer must render the laborer an equivalent in productive service; or else he must pledge himself to employ him for ever. Division of the product, reciprocity of service, or guarantee of perpetual labor,—from the adoption of one of these courses the capitalist cannot escape. But it is evident that he cannot satisfy the second and third of these conditions—he can neither put himself at the service of the thousands of working-men, who, directly or indirectly, have aided him in establishing himself, nor employ them all for ever. He has no other course left him, then, but a division of the property. But if the property is divided, all conditions will be equal—there will be no more large capitalists or large proprietors.