Show the new eral era by ALBERT af MARSDEN capitalism the march westward ot of the A mailean ineil can pioneers hat has been one or 0 continued development and exploitation their labors have been an immeasurable to th growth or of american wealth and capital the western front frontier ler has successfully served as aa a safety valve tor for our excess labor during times of de karl marx prophesied the downfall of what is ob securely caller called capitalism as soon as aa wore th were no more frontiers to settle and no new lands to conquer like a ghastly apparition this present depression has arisen in c circumstances tr cum curn stances much like those marx forecast would bring doom to our order ordee I 1 have never read a comprehensive definition of the term team capitalism ital ism to some it means an or der of rich men pressing the tha mass of the people into abject servitude to some it means an order wheT wherein till tile tho capitalist or owner of money loans it tor for interest living as an incident of his ownership upon the ingenuity and labors of those whom he holds in bondage debt and yet to others it means the right to own land and manage property independent oi of state stale for the purpose of my discussion I 1 shall assume that the term Is coincident with the private owner t thip hip of property therefore any man whether lie he owns much or little property is a capitalist A capitalist has some desirable thing in fit beyond tho the nudity ol of his own labor economics that there are three factors in the production pt of wealth viz land labor and capital and that capital has been the outcome of the application ot of mans labor upon the land that the accumulation ot of capital affords a reserve of energy upon which man can an draw at will and averts the necessity of continuous labor to sustain his life think of any article or commodity used by civilized man anti you will discover that it has been created by a combination of these three factors it if the analogies ot of the sociologists may be taken as true and our progenitors once lived in a state ol of av agerY helplessly thru the jungles and prairies then it may be take n as true also that they were nearly devoid ot of capital capit dl they grew fat in summer and lean ican in winter like wild beasts civil za tion has advanced simultaneously with the advancement oi 0 capitalism the most advanced nations nation today are those which protect and encourage the owners p ot of property under such a system iscem the american pioneers have carried the frontier from the atlantic to vit pacific and left as a monumental monument fitter prise because of their individual the greatest creation of wealth the world has even known today the american people own over forty per cent of the worlds wealth and transact over fifty per cent of the worlds busl busi vess ress and yet they constitute only six percent ot of the worlds population and possess only seven per cent oft off the worlds land surface there can only be one answer to this phenomenal development individual enterprise 1 I am not in sympathy with an unrestrained faire doctrine ot of economics yet I 1 believe that every encouragement should be given to the development of individual talent and genius such stich encourage ment can only be had where the individual Is left free as is possible consistent with public good to follow his own inclinations and develop hs own genius during the days of despair we aro are confronted with a multitude ot of philo philosophies sophle s and doctrines relative it il reorganization ot of ocleta many clamor tor for more governmental ownership and governmental regulation the first things for such ones to conceive is that ur nir whole econ order Is an of human nature and every human with a human nature lias has bought to liberato liberate himself from the unjust interference ter of 0 others england englan d had governmental ownership once the king owned the entire british domain the order ot of things changed after charles 11 II was be headed the development of 0 anglo american law clearly shows from the granting of tho the magna carta to the near repeal of the amendment that the anglo saxon is adamant for the freedom fre of the individual citizen |