"Certainly; but the whole system being under one head and all the parts working together with no friction and no motive for any indirection, such accounting is child's work compared with the adjustment of dealings between the mutually suspicious private capitalists, who divided among themselves the field of business in your day, and sat up nights devising tricks to deceive, defeat, and overreach one another." "But how about the elaborate statistics on which you base the calculations that guide production? There at least is need of a good deal of figuring." "Your national and State governments," replied Mr. Chapin, "published annually great masses of similar statistics, which, while often very inaccurate, must have cost far more trouble to accumulate, seeing that they involved an unwelcome inquisition into the affairs of private persons instead of a mere collection of reports from the books of different departments of one great business. Forecasts of probable consumption every manufacturer, merchant, and storekeeper had to make in your day, and mistakes meant ruin. Nevertheless, he could but guess, because he had no sufficient data. Given the complete data that we have, and a forecast is as much increased in certainty as it is simplified in difficulty." "Kindly spare me any further demonstration of the stupidity of my criticism." "Dear me, Mr. West, there is no question of stupidity. A wholly new system of things always impresses the mind at first sight with an effect of complexity, although it may be found on examination to be simplicity itself. But please do not stop me just yet, for I have told you only one side of the matter. I have shown you how few and simple are the accounts we keep compared with those in corresponding relations kept by you; but the biggest part of the subject is the accounts you had to keep which we do not keep at all. Debit and credit are no longer known; interest, rents, profits, and all the calculations based on them no more have any place in human affairs. In your day everybody, besides his account with the state, was involved in a network of accounts with all about him. Even the humblest wage-earner was on the books of half a dozen tradesmen, while a man of substance might be down in scores or hundreds, and this without speaking of men not engaged in commerce. A fairly nimble dollar had to be set down so many times in so many places, as it went from hand to hand, that we calculate in about five years it must have cost itself in ink, paper, pens, and clerk hire, let alone fret and worry. All these forms of private and business accounts have now been done away with. Nobody owes anybody, or is owed by anybody, or has any contract with anybody, or any account of any sort with anybody, but is simply beholden to everybody for such kindly regard as his virtues may attract." CHAPTER V. I EXPERIENCE A NEW SENSATION. "Doctor," said I as we came out of the bank, "I have a most extraordinary feeling."