"The Free Trade theory was based upon one assumption: that England was to be the one great manufacturing centre of an agricultural world. And the actual fact is that this assumption has turned out to be a pure delusion. The conditions of modern industry, steam-power and machinery, can be established wherever there is fuel, especially coals. And other countries beside England,--France, Belgium, Germany, America, even Russia,--have coals. And the people over there did not see the advantage of being turned into Irish pauper farmers merely for the greater wealth and glory of English capitalists. They set resolutely about manufacturing, not only for themselves, but for the rest of the world; and the consequence is, that the manufacturing monopoly enjoyed by England for nearly a century is irretrievably broken up. "But the manufacturing monopoly of England is the pivot of the present social system of England. Even while that monopoly lasted, the markets could not keep pace with the increasing productivity of English manufacturers; the decennial crises were the consequence. And new markets are getting scarcer every day, so much so that even the negroes of the Congo are now to be forced into the civilisation attendant upon Manchester calicos, Staffordshire pottery, and Birmingham hardware. How will it be when Continental, and especially American, goods flow in in ever-increasing quantities--when the predominating share, still held by British manufacturers, will become reduced from year to year? Answer, Free Trade, thou universal panacea. "I am not the first to point this out. Already, in 1883, at the Southport meeting of the British Association, Mr. Inglis Palgrave, the President of the Economic section, stated plainly that 'the days of great trade profits in England were over, and there was a pause in the progress of several great branches of industrial labour. _The country might almost be said to be entering the non-progressive state_.' "But what is to be the consequence? Capitalist production _cannot_ stop. It must go on increasing and expanding, or it must die. Even now, the mere reduction of England's lion's share in the supply of the world's markets means stagnation, distress, excess of capital here, excess of unemployed workpeople there. What will it be when the increase of yearly production is brought to a complete stop? "Here is the vulnerable place, the heel of Achilles, for capitalistic production. Its very basis is the necessity of constant expansion, and this constant expansion now becomes impossible. It ends in a deadlock. Every year England is brought nearer face to face with the question: either the country must go to pieces, or capitalist production must. Which is it to be?