I think the process is bound to continue, for the old order has broken down and is so thoroughly discredited it can hardly be restored. If time is granted us, great things must follow, but it is increasingly doubtful if this necessary element of time can be counted on. Daily the situation grows more menacing. Capital, which so long exploited labour to its own fabulous profit, is not disposed to sit quiet while the fruits of its labours and all prospects of future emoluments are being dissipated, and it is hard at work striving to effect a "return to normalcy." In this it is being unconsciously aided by the bulk of union labour which, encouraged by the paramount position it achieved during the war, influenced by an avarice it may well have learned from its former masters, as narrow in its vision as they, and increasingly subservient to a leadership which is frequently cynical and unscrupulous and always of an order of character and intelligence which is tending to lower and lower levels, is alienating sympathy and bringing unionism into disrepute. In the United States the tendency is steadily towards a very dangerous reactionism, with a corresponding strengthening of the radical element which aims at revolution, and that impossible thing, a proletarian dictatorship. It is this latter which is rampant and at present unchecked in Europe, and this also is a constant menace to the success of those sane and righteous movements which take their lead from the guild system of the Middle Ages. A third danger, but one which is constantly on the decline at present, partly because of the general disrepute of governments and partly because of the enormous accessions of power now accruing both to reactionism and radical revolutionism, or "Bolshevism," is state socialism or nationalization, which leaves untouched all the fatal elements in industrialism while it changes only the agents of administration. The complete collapse of able and constructive and righteous leadership, which is one of the startling phenomena of modernism, has left uncontrolled the enormous energy that has been released during the last three generations, and this is working blindly but effectively towards a cataclysm so precipitate and comprehensive that it is impossible not to fear that it may determine long before the sober and informed elements in society have accomplished very much in the recovery and establishment of sound and righteous principles and methods.