A penny looks such a poor, contemptible coin, and even the poor labourer often wastes one. But remember that union is strength, and pennies make pounds. 1000 pennies make more than L4; 100,000 pennies come to more than L400; 1,000,000 pennies come to L4000; 1,000,000 pennies a week for a year give you the enormous sum of L210,000. We _Clarion_ men founded a paper called the _Clarion_ with less than L400 capital, and with no friends or backers, and although we have never given gambling news, nor general news, and had no Trade Unions behind us, we have carried our paper on for ten years, and it is stronger now than ever. Why, then, should the working classes, and especially the Trade Unions, submit to the insults and misrepresentations of newspapers run by capitalists, when they can have better papers of their own to plead their own cause? Suppose it cost L100,000 to start a first-class daily Trade Union organ. How much would that mean to 2,000,000 of Unionists? If it cost L100,000 to start the paper, and if it lost L100,000 a year, it would only mean one halfpenny a week for the first year, and one farthing a week for the next. But I am quite confident that if the Unions did the thing in earnest they could start a paper for L50,000, and run it at a profit after the first six months. Do not forget the power of the penny. If 10,000,000 of working men and women gave _one penny a year_ it would reach a yearly income of _forty thousand pounds_. A good deal may be done with L40,000, Mr. Smith. Now a few words as to the three lines of operations. You have your Trade Unions, and you have a very modest kind of Federation. If your 2,000,000 Unionists were federated at a weekly subscription of one penny per man, your yearly income would be nearly half a million: a very useful kind of fund. I should strongly advise you to strengthen your Trades Federation. Next as to Municipal affairs. These are of more importance to you than Parliament. Let me give you an idea. Suppose, as in the case of Manchester and Liverpool, the difference between a private gas company and a Municipal gas supply amounts to more than a shilling on each 1000 feet of gas. Setting the average workman's gas consumption at 4000 feet per quarter, that means a saving to each Manchester working man of sixteen shillings a year, or just about fourpence a week. Suppose a tram company carries a man to his work and back at one penny, and the Corporation carries him at one halfpenny. The man saves a penny a day, or 25s. a year. Now if 100,000 men piled up their tram savings for one year as a labour fund it would come to L125,000. All that money those men are now giving to tram companies _for nothing_. Is that practical? You may apply the same process of thought to all the other things you use. Just figure out what you would save if you had Municipal or State managed