the vested interests and the common man-第26章

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altered　circumstances；　and　the　drift　of　circumstances　is　now　
apparently　setting　in　that　direction。　But　popular　sentiment　has　
not　yet　reached　that　degree　of　emancipation　from　those　good　old　
principles　of　self…help　and　secure　ownership　that　go　to　make　up　
the　modern　（eighteenth…century）　point　of　view　in　law　and　custom。　
The　equity　of　income　derived　from　the　use　of　tangible　property　
may　presently　become　a　moot　question；　but　it　is　not　so　today；　
outside　of　certain　classes　in　the　population　whom　the　law　and　the　
courts　are　endeavoring　to　discourage。　It　is　the　business　of　the　
law　and　the　courts　to　discourage　any　change　of　insight　or　
opinion。　
　　　　It　appears；　therefore；　that　his　conditions　of　life　should　
throw　the　American　farmer　in　with　the　common　man　who　has　
substantially　nothing　to　lose；　beyond　what　the　vested　interests　
of　business　can　always　take　over　at　their　own　discretion　and　in　
their　own　good　time。　In　point　of　material　fact　he　has　ceased　to　
be　a　self…directing　agent；　and　self…help　has　for　him　come　
substantially　to　be　a　make…believe；　although；　of　course；　in　point　
of　legal　formality　he　still　continues　to　enjoy　all　the　ancient　
rights　and　immunities　of　secure　ownership　and　self…help。　Yet　it　
is　no　less　patent　a　fact　of　current　history　that　the　American　
farmer　continues；　on　the　whole；　to　stand　fast　by　those　principles　
of　self…help　and　free　bargaining　which　enable　the　vested　
interests　to　play　fast　and　loose　with　him　and　all　his　works。　Such　
is　the　force　of　habit　and　tradition。　
　　　　The　reason；　or　at　least　the　preconception；　by　force　of　which　
the　American　farmers　have　been　led；　in　effect；　to　side　with　the　
vested　interests　rather　than　with　the　common　man；　comes　of　the　
fact　that　the　farmers　are　not　only　farmers　but　also　owners　of　
speculative　real　estate。　And　it　is　as　speculators　in　land…values　
that　they　find　themselves　on　the　side　of　unearned　income。　As　
land…owners　they　aim　and　confidently　hope　to　get　something　for　
nothing　in　the　unearned　increase　of　land…values。　But　all　the　
while　they　overlook　the　fact　that　the　future　increase　of　
land…values；　on　which　they　pin　their　hopes；　is　already　discounted　
in　the　present　price　of　the　land；…　except　for　exceptional　and　
fortuitous　cases。　As　is　known　to　all　persons　who　are　at　all　
informed　on　this　topic；　farmland　holdings　in　the　typical　American　
farming　regions　are　over…capitalised；　in　the　sense　that　the　
current　market　value　of　these　farm…lands　is　considerably　greater　
than　the　capitalised　value　of　the　income　to　be　derived　from　their　
current　use　as　farmlands。　This　excess　value　of　the　farmlands　is　a　
speculative　value　due　to　discounting　the　future　increased　value　
which　these　lands　are　expected　to　gain　with　the　further　growth　of　
population　and　with　increasing　facilities　for　marketing　the　farm　
products　of　the　locality。　It　is　therefore　as　a　land　speculator　
holding　his　land　for　a　rise；　not　as　a　husbandman　cultivating　the　
soil　for　a　livelihood；　that　the　prairie　farmer；　e。g。；　comes　in　
for　an　excess　value　and　an　over…capitalisation　of　his　holdings。　
All　of　which　has　much　in　common　with　the　intangible　assets　of　the　
vested　interests；　and　all　of　which　persuades　the　prairie　farmer　
that　he　is　of　a　class　apart　from　the　common　man　who　has　nothing　
to　lose。　
　　　　But　he　can　come　in　for　this　unearned　gain　only　by　the　
eventual　sale　of　his　holdings；　not　in　their　cur　rent　use　as　a　
means　of　production　in　farming。　As　a　business　man　doing　a　
speculative　business　in　farmlands　the　American　farmer；　in　a　small　
way；　runs　true　to　form　and　so　is　entitled　to　a　modest　place　among　
that　class　of　substantial　citizens　who；　get　something　for　nothing　
by　cornering　the　supply　and　〃sitting　tight。〃　And　all　the　while　
the　massive　interests　that　move　obscurely　in　the　background　of　
the　market　are　increasingly　in　a　position；　in　their　own　good　
time；　to　disallow　the　farmer　just　so　much　of　this　still…born　gain　
as　they　may　dispassionately　consider　to　be　convenient　for　their　
own　ends。　And　so　the　farmer…speculator　of　the　prairie　continues　
to　stand　fast　by　the　principles　of　equity　which　entitle　these　
vested　interests　to　play　fast　and　loose　with　him　and　all　his　
works。　
　　　　The　facts　of　the　case　stand　somewhat　different　as　regards　the　
American　farmer's　gains　from　his　work　as　a　husbandman；　or　from　
the　use　which　he　makes　of　his　land　and　stock　in　farming。　His　
returns　from　his　work　are　notably　scant。　So　much　so　that　it　is　
still　an　open　question　whether；　taken　one　with　another；　the　
American　farmer's　assets　in　land　and　other　equipment　enable　him；　
one　year　with　another；　to　earn　more　than　what　would　count　as　
ordinary　wages　for　the　labor　which　these　assets　enable　him　to　put　
into　his　product。　But　it　is　beyond　question　that　the　common　run　
of　those　American　farmers　who　〃work　their　own　land〃　get　at　the　
best　a　very　modest　return　for　the　use　of　their　land　and　stock；　　
so　scant；　indeed；　that　if　usage　admitted　such　an　expression；　it　
would　be　fair　to　say　that　the　farmer；　considered　as　a　going　
concern；　should　be　credited　with　an　appreciable　item　of　〃negative　
intangible　assets；〃　such　as　habitually　to　reduce　the　net　average　
return　on　his　total　active　assets　appreciably　below　the　ordinary　
rate　of　discount。　His　case；　in　other　words；　is　the　reverse　of　the　
typical　business　concern　of　the　larger　sort；　which　comes　in　for　a　
net　excess　over　ordinary　rates　of　discount　on　its　tangible　
assets；　and　which　is　thereby　enabled　to　write　into　its　accounts　a　
certain　amount　of　intangible　assets；　and　so　come　into　line　as　a　
vested　interest。　The　farmer；　too；　is　caught　in　the　net　of　the　new　
order；　but　his　occupation　does　not　belong　to　that　new　order　of　
business　enterprise　in　which　earning…capacity　habitually　outruns　
the　capitalised　value　of　the　underlying　physical　property。　　
　
　　　　Evidently　the　cleavage　due　to　be　brought　on　by　the　new　order　
in　business　and　industry；　between　the　vested　interests　and　the　
common　man；　has　not　vet　fallen　into　clear　lines；　at　least　not　in　
America。　The　common　man　does　not　know　himself　as　such；　at　least　
not　yet；　and　the　sections　of　the　population　which　go　to　make　up　
the　common　lot　as　contrasted　with　the　vested　interests　have　not　
yet　learned　to　make　common　cause。　The　American　tradition　stands　
in　the　way。　This　tradition　says　that　the　people　of　the　republic　
are　made　up　of　ungraded　masterless　men　who　enjoy　all　the　rights　
and　immunities　of　self…direction；　self…help；　free　bargaining；　and　
equal　opportunity；　quite　after　the　fashion　that　was　sketched　into　
the　great　constituent　documents　of　the　eighteenth　century。　
　　　　Much　doubt　and　some　discontent　is　afoot。　It　is　becoming　
increasingly　evident　that　the　facts　of　everyday　life　under　the　
new　order　do　not　fall　in　with　the　inherited　principles　of　law　and　
custom；　but　the　farmers；　farm　laborers；　factory　hands；　mine　
workmen；　lumber　hands；　and　retail　tradesmen　have　not　come　to　
anything　like　a　realisation　of　that　new　order　of　economic　life　
which　throws　them　in　together　on　one　side　of　a　line　of　division；　
on　the　other　side　of　which　stand　the　vested　interests　and　the　
kept　classes。　They　have　not　yet　come　to　realise　that　all　of　them　
together　have　nothing　to　lose　except　such　things　as　the　vested　
interests　can　quite　legally　and　legitimately　deprive　them　of；　
with　full　sanction　of　law　and　custom　as　it　runs；　so　soon　and　so　
far　as　it　shall　suit　the　convenience　of　the　vested　interests　to　
make　such　a　move。　These　people　of　the　variegated　mass　have　no　
safeguard；　in　fact；　against　the　control　of　their　conditions　of　
life　exercised　by　those　massive　interests　that　move　obscurely　in　
the　background　of　the　market；　except　such　considerations　of　
expediency　as　may　govern　the　manoeuvres　of　those　massive　ones　who　
so　move　obscurely　in　the　background。　That　is　to　say；　the　
conditions　of　life　for　the　variegated　mass　are　determined　by　what　
the　traffic　will　bear；　according　to　the　calculations　of　self…help　
which　guide　the　vested　interests；　all　the　while　that　the　farmers；　
workmen；　consumers；　the　common　lot；　are　still　animated　with　the　
fancy　that　they　have　themselves　something　to　say　in　these　
premises。　
　　　　It　is　otherwise　with　the　vested　interests；　on　the　whole。　They　
take　a　more　perspicuous　view　of　their　own　case　and　of　the　
predicament　of　the　common　man；　the　party　of　the　second　part。　
Whereas　the　variegated　mass　that　makes　up　the　common　lot　have　not　
hitherto　deliberately　taken　sides　together　or　defined　their　own　
attitude　toward　the　established　system　of　law　and　order　and　its　
continuance；　and　so　are　neither　in　the　right　nor　in　the　wrong　as　
regards　this　matter；　the　vested　interests　and　the　kept　classes；　
on　the　other　hand；　have　reached　insight　and　definition　of　what　
they　need；　want；　and　are　entitled　to。　They　have　deliberated　and　
chosen　their　part　in　the　division；　partly　by　interest　and　partly　
by　ingrained　habitual　bent；　no　doubt；　　and　they　are　always　in　
the　right。　They　owe　their　position　and　the　blessings　that　come　of　
it　　free　income　and　social　prerogative　　to　the　continued　
enforcement　of　these　eighteenth…century　principles　of　law　and　
order　under　conditions　created　by　the　twentieth…century　state　of　
the　industrial　arts。　Therefore；　it　is　incumbent　on　them；　in　point　
of　expediency；　to　stand　strongly　for　the　established　order　of　
inalienable　eighteenth…century　rights；　and　they　are　at　the　same　
time　in　the　right；　in　point　of　law　and　morals；　in　so　doing；　since　
what　is　right　in　law　and　morals　is　always　a　question　of　settled　
habit；　and　settled　habit　is　always　a　legacy　out　of　the　past。　To　
take　their　own　part；　therefore；　the　vested　interests　and　the　kept　
classes　have　nothing　more　perplexing　to　do　than　simply　to　follow　
the　leadings　of　their　settled　code　in　all　questions　of　law　and　
order　and　thereby　to　fall　neatly　in　with　the　leading　of　their　own　
pecuniary　advantage；　and　always　and　on　both　counts　to　keep　their　
poise　as　safe　and　sound　citizens　intelligently　abiding　by　the　
good　old　principles　of　right　and　honest　living　which　safeguard　
their　vested　rights。　
　　　　The　common　man　is　not　so　fortunate。　He　cannot　effectually　
take　his　own　part　in　this　difficult　conjuncture　of　circumstances　
without　getting　on　the　wrong　side　of　the　established　run　of　law　
and　morals；　Unless　he　is　content　to　go　on　as　the　party　of　the　
second　part　in　a　traffic　that　is　controlled　by　the　massive　
interests　on　the　footing　of　what　they　consider　that　the　traffic　
will　bear；　he　will　find　himself　in　the　wrong　and　may　even　come　in　
for　the　comfortless　attention　of　the　courts。　Whereas　if　he　makes　
his　peace　with　the　established　run　of　law　and　custom；　and　so　
continues　to　be　rated　as　a　good　man　and　true；　he　will　find　that　
his　livelihood　falls　into　a　dubious　and　increasingly　precarious　
case。　It　is　not　for　nothing　that　he　is　a　common　man。　
　　　　So　caught　in　a　quandary；　it　is　small　wonder　if　the　common　man　
is　somewhat　irresponsible　and　unsteady　in　his　aims　and　conduct；　
so　far　as　touches　industrial　affairs。　A　pious　regard　for　the　
received　code　of　right　and　honest　living　holds　him　to　a　
submissive　quietism；　a　make…believe　of　self…help　and　fair　
dealings；　whereas　the　material　and　pecuniary　circumstances　that　
condition　his　livelihood　under　this