Let us turn a hundred years back. France lay bleeding at the end of the Napoleonic wars. Her young industry, which had begun to grow by the end of the 18th century, was crushed down. Germany, Italy were powerless in the industrial field. The armies of the great Republic had struck a mortal blow to serfdom on the Continent; but with the return of reaction efforts were made to revive the decaying institution, and serfdom meant no industry worth speaking of. The terrible wars between France and England, which wars are often explained by merely political causes, had a much deeper meaning--an economical meaning. They were wars for the supremacy on the world market, wars against French industry and commerce, supported by a strong navy which France had begun to build--and Britain won the battle. She became supreme on the seas. Bordeaux was no more a rival to London; as to the French industries, they seemed to be killed in the bud. And, aided by the powerful impulse given to natural sciences and technology by a great era of inventions, finding no serious competitors in Europe, Britain began to develop her manufactures. To produce on a large scale in immense quantities became the watchword. The necessary human forces were at hand in the peasantry, partly driven by force from the land, partly attracted to the cities by high wages. The necessary machinery was created, and the British production of manufactured goods went on at a gigantic pace. In the course of less than seventy years--from 1810 to 1878--the output of coal grew from 10 to 133,000,000 tons; the imports of raw materials rose from 30 to 380,000,000 tons; and the exports of manufactured goods from 46 to 200,000,000 pounds. The tonnage of the commercial fleet was nearly trebled. Fifteen thousand miles of railways were built. It is useless to repeat now at what a cost the above results were achieved. The terrible revelations of the parliamentary commissions of 1840-1842 as to the atrocious condition of the manufacturing classes, the tales of “cleared estates,” and kidnapped children are still fresh in the memory. They will remain standing monuments for showing by what means the great industry was implanted in this country. But the accumulation of wealth in the hands of the privileged classes was going on at a speed never dreamed of before. The incredible riches which now astonish the foreigner in the private houses of England were accumulated during that period; the exceedingly expensive standard of life which makes a person considered rich on the Continent appear as only of modest means in Britain was introduced during that time. The taxed property alone doubled during the last thirty years of the above period, while during the same years (1810 to 1878) no less than £1,112,000,000--nearly £2,000,000,000 by this time--was invested by English capitalists either in foreign industries or in foreign loans.[1]