somewhat strenuously held to such a workmanlike apprehension of things, even though they may no longer have the same intimate concern in their own current efficiency as in the earlier days of handicraft. The severe pressure of competitive wages and large organisation, it might well be thought, should logically offset the slighter attraction which work as such has for the hired workman as contrasted with the man occupied with his own work. The effect of this régime of free labour should logically be, as it apparently has in great part been, a close and progressively searching recourse to the logic of matter-of-fact in all the workmen’s habitual thinking, and in all their outlook on matters of interest, whether in industry or in the other concerns of life that may conceivably be of more capital interest. On the other hand the owners under this régime of peaceable ownership have to do with the pecuniary management, the gainful manipulation of property. In the transitional beginnings of this system of peaceable ownership and free workmen the owners are in the typical case owners of land or similar natural resources; but in due course of time there arises a class of owners holding property in the material equipment of industry and deriving their gains and livelihood from a businesslike management of this property, at the same time that the landlords also fall into more businesslike relations with their tenants on the one hand and with the industrial community that supplies their wants on the other hand. These owners, investors, masters, employers, undertakers, businessmen, have to do with the negotiation of advantageous bargains; it is by bargaining that their discretionary control of property takes effect, and in one way or another their attention centres on the quest of profits. The training afforded by these occupations and requisite to their effectual pursuit runs in terms of pecuniary management and insight, pecuniary gain, price, price-cost, price-profit and price-loss; and these men are held to an ever more exacting recourse to the logic of the price system, and so are trained to the apprehension of men and things in terms which count toward a gainful margin on investments and business undertakings; that is to say in terms of the self-regarding propensities and sentiments comprised in human nature, and perhaps especially in terms of human infirmity.