Yet another and more serious form of plunder of the public is carried on by means of Joint Stock Companies, of which there are now more than 50,000 in England and Wales. In the year 1911 the number of new companies was 5,959, while 4,353 ceased to exist, giving an increase of 1,606 in the year. The Limited Liability Act was passed in 1855, in order that the public might invest their savings in companies, and thus share in the profits of our industry and commerce. It was supposed to be quite proper that anyone should benefit by the enterprise and industry of others; but to do so is essentially immoral, and has resulted in a vast system of swindling and terrible losses to the innocent investors. The promoters, directors, secretaries and bankers of these companies always gain; those that take up the shares often lose; and the amount of misery and absolute ruin of those who fondly hoped to add to their scanty incomes, and have been deluded by the names of well-known public men among the directors, is incalculable. Our Stock Exchanges, too, are used largely for pure gambling which, owing to its vast extent and being carried on under business forms, is perhaps more ruinous than any other. But this form of gambling goes on unchecked, and is generally accepted as quite honest business. Yet ordinary betting on races and other forms of direct gambling are hypocritically condemned as immoral and criminal. The vast fabric of our Foreign Trade in food, or the raw materials of our manufactures, is also used to support perhaps the greatest system of gambling the world has ever seen. The fluctuating prices of corn or cotton, of coal or mineral oil, of iron and other metals, in the great markets of the world, are used in two ways by a large community of gamblers, who not only do not require the goods they buy, but who never see nor possess them. The ordinary speculator who buys when prices are low, to sell again at a profit, without himself being able to influence the rise or fall of price, is a pure gambler who thinks he can foresee the changes of the market price in the immediate future. But the great capitalists who, either singly or by means of what are called rings or combines, purchase such vast quantities of the special product as to create a scarcity in the market, leading to a large rise of price, are ingenious robbers rather than gamblers, because, by clever dealings with such a monopoly, often aided by false rumours widely circulated in newspapers owned or bribed by them, they are able to make enormous profits at the expense of those who are obliged to purchase for actual business purposes or for daily use. This is one of the methods by which the great millionaires and multi-millionaires of the world accumulate their wealth, every penny of which is at the cost of the consuming public.