And this is equally true, though it is only now beginning to be recognized, of the securities of that other section of the middle class, the section which lives upon invested money. There, too, big eats little. There, too, the small man is more and more manifestly at the mercy of the large organization. It was a pleasant illusion of the Victorian time that one put one's hundred pounds or thousand pounds "into something," beside the rich man's tens of thousands, and drew one's secure and satisfying dividends. The intelligent reader of Mr. Lawson's _Frenzied Finance_ or of the bankruptcy proceedings of Mr. Hooley realizes this idyll is scarcely true to nature. Through the seas and shallows of investment flow great tides and depressions, on which the big fortunes ride to harbour while the little accumulations, capsized and swamped, quiver down to the bottom. It becomes more and more true that the small man saves his money for the rich man's pocket. Only by drastic State intervention is a certain measure of safety secured for insurance, and in America recently we have had the spectacle of the people's insurance-money used as a till by the rich financiers.
And when the middle-class man turns in his desperation from the advance of the big competitor who is consuming him, as a big codfish eats its little brother, to the State, he meets a tax-paper; he sees as the State's most immediate aspect the rate-collector and inexorable demands. The burthen of taxation certainly falls upon him, and it falls upon him because he is collectively the weakest class that possesses any property to be taxed. Below him are classes either too poor to tax or too politically effective to stand taxation. Above him is the class which owns a large part of the property in the world; but it also owns the newspapers and periodicals that are necessary for an adequate discussion of social justice, and it finds it cheaper to pay a voluntary tax to the hoardings at election time than to take over the small man's burdens. He rolls about between these two parties, antagonized first to one and then the other, and altogether helpless and ineffectual. So the millstones grind, and so it would seem they will continue to grind until there is nothing between them; until organized property in the hands of the few on the one hand and the proletariat on the other grind face to face. So, at least, Karl Marx taught in _Das Kapital_.
