It is evident,
therefore, that the present treatment of the Jews is really not
dictated by the native Russian population, and that the democratic
argument is but a false pretext. The Russian labour market, while
congested in the Pale, is scarce in other sections. That the economic
life of Russia, as a whole, suffers from it is obvious.
In this connection, another point is worthy of our attention.
Contrary, to the popular idea of the Jewish greed, the Jews are
usually satisfied with a lower rate of interest on the capital
invested, since what they are after is the bare means of livelihood.
In this fashion they lower, to a considerable extent, the capitalist's
profits, a circumstance which cannot fail to irritate the Gentile
capitalists. Consequently, all this comes to competition of capital,
and it is significant that the fiercest anti-Semitic outcries come
from the capitalistic classes. Let us not forget that the early
pogroms at Odessa were caused by the agitation of the Greek merchants
who feared for their commercial ascendency.
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