M. Blanqui is a friend of association and progress, a writer of democratic tendencies, a professor who has a place in the hearts of the proletariat. In his opening discourse of the year 1845, M. Blanqui proclaimed, as a means of salvation, the association of labor and capital, the participation of the working man in the profits,--that is, a beginning of industrial solidarity. "Our century," he exclaimed, "must witness the birth of the collective producer." M. Blanqui forgets that the collective producer was born long since, as well as the collective consumer, and that the question is no longer a genetic, but a medical, one. Our task is to cause the blood proceeding from the collective digestion, instead of rushing wholly to the head, stomach, and lungs, to descend also into the legs and arms. Besides, I do not know what method M. Blanqui proposes to employ in order to realize his generous thought,--whether it be the establishment of national workshops, or the loaning of capital by the State, or the expropriation of the conductors of business enterprises and the substitution for them of industrial associations, or, finally, whether he will rest content with a recommendation of the savings bank to workingmen, in which case the participation would be put off till doomsday. However this may be, M. Blanqui's idea amounts simply to an increase of wages resulting from the copartnership, or at least from the interest in the business, which he confers upon the laborers. What, then, is the value to the laborer of a participation in the profits?