There is not a little reason to believe that consequent upon the installation of the projected regime of peace at large and secure investment the critical point in the repression of talent will very shortly be reached and passed, so that the principle of the "minimal dose" will come to apply. The point may readily be illustrated by the case of many British and American towns and neighbourhoods during the past few decades; where the dominant price-system and its commercial standards of truth and beauty have over-ruled all inclination to cultural sanity and put it definitively in abeyance. The cultural, or perhaps the conventional, residue left over in these cases where civilisation has gone stale through inefficiency of the minimal dose is not properly to be found fault with; it is of a blameless character, conventionally; nor is there any intention here to cast aspersion on the desolate. The like effects of the like causes are to be seen in the American colleges and universities, where business principles have supplanted the pursuit of learning, and where the commercialisation of aims, ideals, tastes, occupations and personnel is following much the same lines that have led so many of the country towns effectually outside the cultural pale. The American university or college is coming to be an outlier of the price-system, in point of aims, standards and personnel; hitherto the tradition of learning as a trait of civilisation, as distinct from business, has not been fully displaced, although it is now coming to face the passage of the minimal dose. The like, in a degree, is apparently true latterly for many English, and still more evidently for many German schools. In these various instances of what may be called dry-rot or local blight on the civilised world's culture the decline appears to be due not to a positive infection of a malignant sort, so much as to a failure of the active cultural ferment, which has fallen below the critical point of efficacy; perhaps through an unintended refusal of a livelihood to persons given over to cultivating the elements of civilisation; perhaps through the conventional disallowance of the pursuit of any other ends than competitive gain and competitive spending. Evidently it is something much more comprehensive in this nature that is reasonably to be looked for under the prospective regime of peace, in case the price-system gains that farther impetus and warrant which it should come in for if the rights of ownership and investment stand over intact, and so come to enjoy the benefit of a further improved state of the industrial arts and a further enlarged scale of operation and enhanced rate of turnover. * * * * *