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 all—ashamed of their idleness—labor, economize, and capitalize. They have jumped from the frying-pan into the fire.

I cannot repeat it too often: the proprietor who thinks to deserve his income by working, and who receives wages for his labor, is a functionary who gets paid twice; that is the only difference between an idle proprietor and a laboring proprietor. By his labor, the proprietor produces his wages only—not his income. And since his condition enables him to engage in the most lucrative pursuits, it may be said that the proprietor’s labor harms society more than it helps it. Whatever the proprietor does, the consumption of his income is an actual loss, which his salaried functions neither repair nor justify; and which would annihilate property, were it not continually replenished by outside production.

II. Then, the proprietor who consumes annihilates the product: he does much worse if he lays it up. The things which he lays by pass into another world; nothing more is seen of them, not even the caput mortuum,—the smoke. If we had some means of transportation by which to travel to the moon, and if the proprietors should be seized with a sudden fancy to carry their savings thither, at the end of a certain time our terraqueous planet would be transported by them to its satellite!

The proprietor who lays up products will neither allow others to enjoy them, nor enjoy them himself; for him there is neither possession nor property. Like the miser, he broods over his treasures: he does not use them. He may feast his eyes upon them; he may lie down with them; he may sleep with them in his arms: all very fine, but coins do not breed coins. No real property without enjoyment; no enjoyment without consumption; no consumption without loss of property,—such is the inflexible necessity to which