The crises in classical studies and in the decorative arts are, however, still relatively slight in comparison with the general intellectual and moral confusion into which the doctrine of Quantity has plunged men’s minds, by substituting a standard of Quantity in place of the traditional standard of Quality. If my phrase is obscure, examples may possibly elucidate what I say. We all know, for instance, that, in recent years, the citizens of the United States have waged a bitter campaign against the trusts, the great banks, the railroads, and insurance companies; in fact, against all the vast powers of money. In newspaper articles, in public speeches, and in whole volumes filled with accusations, these trusts have been charged with being centres of corruption, instruments of a new despotism not less odious than the political despotism of old. They are decried as scandalous conspiracies to despoil honest men of the legitimate fruits of their labour. The campaign has penetrated to the very heart of the nation; but in the face of the enormous indignation of the masses, there has been exhibited both in America and Europe the Olympian calm of economists and men of great affairs, who have denounced this movement of protest as a return to Mediæval ideas, and who in the face of a vast outcry have paid enthusiastic homage to modern finance, its enormous enterprises, and its tremendous organisation. How can there be so vast a difference of opinion in an age so intelligent and educated as ours? Is half the world struck blind to-day, and is sight given to the other half alone? No, there is neither incurable blindness, nor sight vouchsafed only to a few. The sole reason for the confusion is that men employ different standards in measuring the same thing, and for this reason find it impossible to understand each other. If one accepts the quantitative standard, if one admits that the supreme object of life is to produce an enormous pile of riches as rapidly as possible, the economists are right. The injustices and cruelties denounced by the adversaries of high finance are merely negligible inconveniences in a régime of economic liberty of which the modern world is naturally proud, for it is to this liberty that the modern world owes most of its wealth. Yet we must remember that the idea of leaving the wages of each individual to be determined by the blind play of economic forces was foreign to all the civilisations that preceded our own. They always sought to correct the principles of business in order to keep them in accord with the principles of charity and justice. To carry out this policy, they did not even hesitate to limit the development of industry and business, for example, by forbidding interest on money. Former ages subordinated economic development to an ideal of moral perfection; they placed Quality above Quantity. If, however, one applies this standard of qualitative measure to the modern world, it is these detractors of