"There's the beauty of it. And I'm going to confound you with them right now. Here goes.
"The United States is a capitalist country that has developed its resources. According to its capitalist system of industry, it has an unconsumed surplus that must be got rid of, and that must be got rid of abroad.[1] What is true of the United States is true of every other capitalist country with developed resources. Every one of such countries has an unconsumed surplus. Don't forget that they have already traded with one another, and that these surpluses yet remain. Labor in all these countries has spent its wages, and cannot buy any of the surpluses. Capital in all these countries has already consumed all it is able according to its nature. And still remain the surpluses. They cannot dispose of these surpluses to one another. How are they going to get rid of them?"
"Sell them to countries with undeveloped resources," Mr. Kowalt suggested.
"The very thing. You see, my argument is so clear
- ↑ Theodore Roosevelt, President of the United States a few years prior to this time, made the following public declaration: "A more liberal and extensive reciprocity in the purchase and sale of commodities is necessary, so that the overproduction of the United States can be satisfactorily disposed of to foreign countries." Of course, this overproduction he mentions was the profits of the capitalist system over and beyond the consuming power of the capitalists. It was at this time that Senator Mark Hanna said: "The production of wealth in the United States is one-third larger annually than its consumption." Also a fellow-Senator, Chauncey Depew, said: "The American people produce annually two billions more wealth than they consume."
