“Socialism or Smash. Socialism if the race has at last evolved the faculty of coordinating the functions of a society too crowded and complex to be worked any longer on the old haphazard private-property system. Unless we reorganize our society socialistically--humanly a most arduous and magnificent enterprise, economically a most simple and sound one--Free Trade by itself will ruin England, and I will tell you exactly how. When my father made his fortune we had the start of all other nations in the organization of our industry and in our access to iron and coal. Other nations bought our products for less than they must have spent to raise them at home, and yet for so much more than they cost us, that profits rolled in Atlantic waves upon our capitalists. When the workers, by their trades-unions, demanded a share of the luck in the form of advanced wages, it paid better to give them the little they dared to ask than to stop gold-gathering to fight and crush them. But now our customers have set up in their own countries improved copies of our industrial organization, and have discovered places where iron and coal are even handier than they are by this time in England. They produce for themselves, or buy elsewhere, what they formerly bought from us. Our profits are vanishing, our machinery is standing idle, our workmen are locked out. It pays now to stop the mills and fight and crush the unions when the men strike, no longer for an advance, but against a reduction. Now that these unions are beaten, helpless, and drifting to bankruptcy as the proportion of unemployed men in their ranks becomes greater, they are being petted and made much of by our class; an infallible sign that they are making no further progress in their duty of destroying us. The small capitalists are left stranded by the ebb; the big ones will follow the tide across the water, and rebuild their factories where steam power, water power, labor power, and transport are now cheaper than in England, where they used to be cheapest. The workers will emigrate in pursuit of the factory, but they will multiply faster than they emigrate, and be told that their own exorbitant demand for wages is driving capital abroad, and must continue to do so whilst there is a Chinaman or a Hindoo unemployed to underbid them. As the British factories are shut up, they will be replaced by villas; the manufacturing districts will become fashionable resorts for capitalists living on the interest of foreign investments; the farms and sheep runs will be cleared for deer forests. All products that can in the nature of things be manufactured elsewhere than where they are consumed will be imported in payment of deer-forest rents from foreign sportsmen, or of dividends due to shareholders resident in England, but holding shares in companies abroad, and these imports will not be paid for by ex ports, because rent and interest are not paid for at all--a