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Five aspects of social phenomena mark the later
| development of Capitalism. They are industrial
| monopoly, militarism, the problem of the increased cost
| of living, the universality of social unrest, and the
| remarkable advances made in the economic and political
| organisation of the wage workers. For the whole of the
| last decade, world-politics has been dominated by the
| driving force of economic chaos. Everywhere production
| has outgrown the assimilative capacity of the market.
| Each influential business interest has
The mad fever for armaments has been derived from and
| nourished by the competition for oversea markets, made
| necessary by the advent of monopoly at home. In
| proportion as success attended the efforts of particular
| groups in this connection influence was brought to bear
| on the national foreign, and colonial policy of each
| country, so that support and protection would be assured
| against hostile trade competitors, and, further
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It was the inexorable procession from cause to
| effect, which threw an ever-increasing power into the
| hands of the men who operated the machinery of
| capitalist industry. To the extent that large scale
| manufacture rose up from the ruins of the multitude of
| small shops, civilisation evolved an economic despotism
| more absolute than is to be found in all the records of
| the race. In every field of industrial enterprise, the
| joint-stock corporation gradually separated capital
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These Napoleons of finance have thus gathered under | their control the entire available investments of | society. They decide where and when new industries | shall commence, when dislocation or cessation shall | occur. They bull, bear and hammer on Stock Exchanges, | give advances and foreclose, gamble in futures, corner | wool and wheat, determine the success or failure of | national loans, and, in short, sit enthroned monarchs of | the world, ruling with an icy sceptre, and decreeing | disaster and death to all who say them nay.
| It is this class of monetary experts who have
| controlled the cabinets of Europe. Another decade of
| peace with its uninterrupted working-class progress
| would have witnessed their political annihilation.
| Capitalism was drifting towards the rapids of
| revolution. In each country the social democracy was
| building up from the base the foundations of a new
| society. Strike on strike, agitation on agitation, and
| growth in the number of powerfully compacted industrial
| organisations was surely and persistently making the
| multitude an invincible force. In Germany and France
| the Socialist parties were the largest separate
| political entity in the Parliament. In Great Britain,
| Home Rule
Thus 'twas the beginning of the end. Only a vast
| human fratricide could meet the emergency and drive the
| populace back to its hole. It was as though a voice
| cried:
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Thus has humanity retired toward the chasm
| out from which it climbed with bleeding feet and
| staggering steps. It is as though the day turned back
| to the night, even as our eyes were fixed on the
| noontide sun. But Labor will learn its lesson, and will
| not forget. Governments that know no method but that of
| musketry, must find in it uncompromising hostility. The
| political state has been the instrument of the great
| financiers. They have used it to our discomfiture and
| their own gain. It remains for the Social Democracy to
| realise definitely and decisively that the indispensable
| condition to the orderly progress of economic
| organisation and industrial solidarity is the conquests
| by the workers of the coercive authority of the law.
Meanwhile all the countries
Bad as the position is now it has all the appearance | of being worse when the war ends. The industrial | dislocation following on the stoppage of war-output will | be but a multiplication of that which ensued on the | outbreak of hostilities. We are face to face with a | period of dire distress. Wages will go down in | proportion as work becomes scarce. All the | characteristic associations of social impoverishment | will become accentuated. The streets will echo to the | tramp of the hungry men, while wives and children weep | in silence and sorrow for the misfortunes of peace even | as they wept in silence and sorrow at the agonies of | war. Private enterprise is about to add to the | innumerable demonstrations it has given of its | incapacity to serve popular needs.
|Yet there are alternatives. Even in the midst of the | worst that will occur, there will be food and homes and | clothing, provided there is insistence that the | organised State shall be responsible for their | production. The States have complete control over | domestic requirements. They can produce coal in | abundance, for there are mines undeveloped and men | ready; they can take over the boot factories, the | flour-mills, the bakeries and slaughter yards, and use the | equipment private enterprise is unable to employ, in | order that starvation and want may be effectually | prevented.
|So all is not yet lost. There still remains the | power of a united and alert democracy to save itself | with courage and resource. There are not two ways. We | have to choose finally, once and for all, between a bold | and determined policy, negativing the interests of | Capitalism, or continuing to hold to the timid ways | monopoly would have us travel in its service.
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