All accumulated wealth is the product of the labour of all--of the present and of all preceding generations. This hall in which we are now assembled derives its value from the fact that it is situated in Paris--this magnificent city built by the labours of twenty successive generations. If this same hall were conveyed amid the snows of Siberia its value would be next to nothing. The machinery which you have invented and patented bears within itself the intelligence of five or six generations and is only possessed of value because it forms part of that immense whole that we call the progress of the nineteenth century. If you send your lace-making machine among the natives of New Guinea it will become valueless. We defy any man of genius of our times to tell us what share his intellect has had in the magnificent deductions of the book, the work of talent which he has produced! Generations have toiled to accumulate facts for him, his ideas have perhaps been suggested to him by a locomotive crossing the plains, as for elegance of design he has grasped it while admiring the Venus of Milo or the work of Murillo, and finally, if his book exercises any influence over us, it does so, thanks to all the circumstances of our civilisation. Everything belongs to all! We defy anyone soever to tell us what share of the general wealth is due to each individual. See the enormous mass of appliances which the nineteenth century has created; behold those millions of iron slaves which we call machines, and which plane and saw, weave and spin for us, separate and combine the raw materials, and work the miracles of our times. No one has the right to monopolise any one of these machines and to say to others--"This is mine, if you wish to make use of it you must pay me a tax on each article you produce," any more than the feudal lord of the middle ages had the right to say to the cultivator--"This hill and this meadow are mine and you must pay me tribute for every sheaf of barley you bind, and on each haycock you heap up." All belongs to everyone! And provided each man and woman contributes his and her share of labour for the production of necessary objects, they have a right to share in all that is produced by everybody. PART II.