This question most men to-day would answer with a prompt and confident “Yes.” It will be the conclusion offered in this paper that, in this affirmative answer, fashionably put forward and passively accepted, most men to-day are making an ethical and radical mistake.

At the outset be it noted the question propounded is : “Should money make money?” We are not concerned directly or primarily with the question : “Does money make money?” To that query all your bankers, stockbrokers, politicians and dividend hunters would no doubt reply with a ready affirmative. That query is for the moment beside the mark, though it may be pointed out in passing that even there the commonly accepted view may be anything but the truth. Our question, “Should money make money?” is one of ethics or morals: in other words it is a question of right and wrong.

Now, the problem is really one of exchange, for it is quite patent that of itself money does not beget money. A half-crown, however warmly placed and in whatever well-lined pocket, cannot produce a litter of sixpences or threepenny-bits.