ABSTRACT
As an instrument for effecting the subversion of the present system, and as a preparatory step to the establishment of community of possessions and equality of rights in its most perfect form, there is scarcely to be found one which contains so many facilities as the joint-stock movement, and there is not one against which so few objections can be urged. A movement of this character combines all that is good in the present system with much that is essential to a better system; and, being founded on well-tried principles, and moving onwards by well-known modes and everyday occurrences, it can sustain no injury from the common war-cry of stupidity and craft, that it is “visionary” and “impracticable.” This step simply supposes that the land and real capital of the country are possessed by, and used for, society at large—that this capital is obtained from its present possessors by valuation and purchase—that this purchase is made by the great productive section of the community—that this section is divided into an indefinite number of smaller sections, after the manner of joint-stock companies—that these companies create a circulating medium to the amount of the real capital held by them—that this medium is made use of by the various companies according to the number of their members and the particular branch of trade in which they are engaged—that all these companies, and society at large, buy and sell by means of this medium—that one uniform scale, in regard both to time of labour and amount of wages, exists among all these companies, and extends to every individual belonging to them—that all articles of produce are valued according to the labour bestowed upon them—that a common national fund is established, for the construction of public works, the carrying on of government, the providing of education for all, and the maintenance of the bereaved young, the helpless, and the aged; for the insurance of property, and for effecting every other object which the wants and exigencies of society may require.
