That a change is desirable no one who has spent two thoughts on the subject can doubt. The only question is, What change is desirable and possible? Is there any organization or social system which could check the evils resulting from the present competitive system, and secure that every one who is willing to work should be furnished with remunerative employment? Socialists are quite convinced that the whole problem would be solved were private capital to be converted into co-operative or public capital. Socialism demands that society shall be the only capitalist, and that all private captains of industry and capital be abolished. No return is possible to the state of things in which every man worked by himself with his own hands and at his own risk, producing his one or two webs, tilling his one or two acres. It is recognised that far more and better products can be produced when manufactures are carried on in large factories. But on the socialistic principle these factories must be owned, not by private capitalists, but by the State, or at any rate by co-operative societies of some kind. This is the essence of the demand of Socialism: that "whereas industry is at present carried on by private capitalists served by wage-labour, it must in the future be conducted by associated or co-operating workmen jointly owning the means of production." The difficulty in pronouncing judgment on such a demand arises from the fact that very few men indeed have sufficient imagination and sufficient knowledge of our complicated social system to be able to forecast the results of so great a change. In the present stage of human progress personal interest is undoubtedly one of the strongest incentives to industry, and to this motive the present system of competition appeals. And although Socialists declare that their system would not exclude competition, it is difficult to see what field it would have or at what point it would find its opportunity. Certain departments of industry are already in the hands of the State or of co-operative societies, but the organization of all industries and the management and remuneration of all labour demand a machinery so colossal that it is feared it would fall to pieces by its own weight. Still it is possible that ways and means of working a socialistic scheme may be devised; and it is quite certain that if any system could be devised which is really workable, and which should at once save us from the disastrous results of competition and yet evoke all the energy which competition evokes, that system would forthwith be adopted in every civilised country.