individuals have received an excess of protection while the welfare of the great mass of the people has been sacrificed. The present problem of the student of sociology is, How can the rights of individuals be adjusted, yet so as to maintain the superior interests of all the people? This can be accomplished largely, if not completely, by the abolition of usury.
Let the Government receive on deposit the surplus wealth of the individuals for safe keeping and subject to their orders. Let the Postal Savings Bank be established. The Government is the best possible security. The certificates of deposit would be as good as Government bonds. They could take the place of the National Bank currency. The Postal Department now transfers money and in a manner receives deposits and issues postal notes.
These deposits as they accumulated would lift from the people the burden of the interest bearing debt. As they increased the Government could invest them in public utilities to be operated for the general welfare. The Government thus caring for the surplus wealth the people are entitled to any benefits that may accrue from its use. All would have an interest in preserving and all would share in the advantages of the property thus cared for by the State, while each would have his individual earnings subject to draft for his personal needs or pleasure.
This would preserve the rights of the individual and secure to him perfectly his surplus earnings, and at the same time the whole people, through the Government, would have the use of this accumulated wealth for its safe-keeping. This will preserve the stimulating incentives of individualism and also gain, practically, the blessings of Socialism. This will be the natural conclusion in the balancing and adjustment of the present sociological discussion.
The prohibition of usury would be to the material advantage of the great mass of our people. It would be a blessing to all, though