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 leads to a reduction of house and farm-rents, since the surest way to depreciate active capital is to increase its amount. But it is a law of political economy that an increase of production augments the mass of available capital, consequently tends to raise wages, and finally to annihilate interest. Then, proprietors are interested in maintaining the statutes and privileges of the Bank; then, a reform in this matter would compromise the right of increase; then, the peers and deputies are better informed than Professor Blanqui.

But these same deputies,—so jealous of their privileges whenever the equalizing effects of a reform are within their intellectual horizon,—what did they do a few days before they passed the law concerning judicial sales? They formed a conspiracy against property! Their law to regulate the labor of children in factories will, without doubt, prevent the manufacturer from compelling a child to labor more than so many hours a day; but it will not force him to increase the pay of the child, nor that of its father. To-day, in the interest of health, we diminish the subsistence of the poor; to-morrow it will be necessary to protect them by fixing their minimum wages. But to fix their minimum wages is to compel the proprietor, is to force the master to accept his workman as an associate, which interferes with freedom and makes mutual insurance obligatory. Once entered upon this path, we never shall stop. Little by little the government will become manufacturer, commission-merchant, and retail dealer. It will be the sole proprietor. Why, at all epochs, have the ministers of State been so reluctant to meddle with the question of wages? Why have they always refused to interfere between the master and the workman? Because they knew the touchy and jealous nature of property, and, regarding it as the principle of all civilization, felt that to meddle