fatal delay: there is the natural sphere of individual enterprise pure and simple. Between these two extremes there is surely a great sphere for voluntary association to carry on commerce, manufacture, and retail trade, in circumstances where there is no natural monopoly, and where the routine of work is not rapidly changing, but on the whole fairly well established and constant."[159] The province open to co-operation is, indeed, very large. If it were fully occupied the danger of a social revolution would be non-existent, and what remained of the socio-industrial problem would be relatively undisturbing and unimportant. The "specialisation of function" in industrial organisation, as outlined by Mr. Williams, would give a balanced economy in which the three great socio-economic systems and principles would have full play, and each would be required to do its best in fair competition with the other two. Economic life would exhibit a diversity making strongly for social satisfaction and stability, inasmuch as no very large section of the industrial population would desire to overthrow the existing order. Finally, the choice of three great systems of industry would offer the utmost opportunity and scope for the energies and the development of the individual. And this, when all is said, remains the supreme end of a just and efficient socio-industrial organisation. REFERENCES ON SECTION II FISHER: The Rate of Interest. New York; 1907. CASSEL: Nature and Necessity of Interest. London; 1903. GONNER: Interest and Saving. London; 1906. LANDRY: L'Intérêt du Capital. Paris; 1904. MENGER: The Right to the Whole Produce of Labour. London; 1899. CATHREIN-GETTELMAN: Socialism. St. Louis; 1904. SKELTON: Socialism: A Critical Analysis. New York; 1911. SPARGO: Socialism. Macmillan; 1906. WALLING: Socialism As It Is. New York; 1912. HILLQUIT-RYAN: Socialism: Promise or Menace? Macmillan; 1914. SAVATIER: La Théorie Moderne du Capital et la Justice. Paris; 1898. GARRIGUET: Régime du Travail. Paris; 1908. FUNK: Zins und Wucher. Tübingen; 1868. HOLYOAKE: The History of Co-operation. London; 1906. FAY: Co-operation at Home and Abroad. London; 1908. WILLIAMS: Copartnership and Profit-Sharing. Henry Holt & Co.; 1913. MANN, SIEVERS, COX: The Real Democracy. London; 1913. Also the works of Taussig, Devas, Antoine, Hobson, Nearing, Willoughby, and Hitze, which were given at the end of the introductory chapter. FOOTNOTES: