The recurring period of the great industrial crisis is stated in the text as five years. This was the period apparently indicated by the course of events from 1825 to 1842. But the industrial history from 1842 to 1868 has shown that the real period is one of ten years; that the intermediate revulsions were secondary, and tended more and more to disappear. Since 1868 the state of things has changed again, of which more anon. I have taken care not to strike out of the text the many prophecies, amongst others that of an imminent social revolution in England, which my youthful ardour induced me to venture upon. The wonder is, not that a good many of them proved wrong, but that so many of them have proved right, and that the critical state of English trade, to be brought on by Continental and especially American competition, which I then foresaw--though in too short a period--has now actually come to pass. In this respect I can, and am bound to, bring the book up to date, by placing here an article which I published in the _London Commonweal_ of March 1, 1885, under the heading: "England in 1845 and in 1885." It gives at the same time a short outline of the history of the English working-class during these forty years, and is as follows: "Forty years ago England stood face to face with a crisis, solvable to all appearances by force only. The immense and rapid development of manufactures had outstripped the extension of foreign markets and the increase of demand. Every ten years the march of industry was violently interrupted by a general commercial crash, followed, after a long period of chronic depression, by a few short years of prosperity, and always ending in feverish over-production and consequent renewed collapse. The capitalist class clamoured for Free Trade in corn, and threatened to enforce it by sending the starving population of the towns back to the country districts whence they came, to invade them, as John Bright said, not as paupers begging for bread, but as an army quartered upon the enemy. The working masses of the towns demanded their share of political power--the People's Charter; they were supported by the majority of the small trading class, and the only difference between the two was whether the Charter should be carried by physical or by moral force. Then came the commercial crash of 1847 and the Irish famine, and with both the prospect of revolution.