186. Benevolent Feudalism.-It is sometimes admitted that the trend of things is distinctly as is here indicated, and then it is denied that the final collapse will come. A new feudalism, "a benevolent feudalism, is to prevent all this. Not only has this been contended for, but there seem good reasons to believe that it has been definitely proposed and steps undertaken to realize that result.7

It is asked if great capitalists could form a worldwide combination to take charge of the governments, as well as the industries of the earth, and could so operate the governments that they could enforce such industrial activities as would provide for the personal comfort of all the workers, and thus, by making "the full dinner pail" always certain, could not, then, such a condition of dependence between the well-fed workers and their acknowledged masters be established that the masters would provide directly for all who would submit to their paternal care, all that could be carried in a "dinner pail" and starve or imprison all others, and then use or waste in private gardens, hunting grounds and personal services for the masters all the life values of all the people not required for the comfortable support of the workers themselves. The greatest strength of this suggestion is in the fact that in the culmination of capitalism the final group of surviving capitalists will be forced into a single combination. When they have made the last great bargain and have bargained for the world itself, that will surely include the governmental powers along with the rest. Then, why will not the surviving capitalists choose to use these powers of the state together with the world's resources, which the final trust will control, in order to

7. W. T. Stead states that it was the dream of Cecil Rhodes to establish such an association of millionaires. He further claims that Mr. Rhodes had the approval of Mr. Carnegie and others for his proposals.

provide, at least, a comfortable existence for all, rather than consent to the universal collapse here pointed out?

187. Inner Circle Unable to Keep the Peace, Disguise Its Crimes or Defend Itself.-The reasons why this will not be done are many and conclusive.

First. It would mean that when the final trust comes the capitalist "leopards will change their spots" and cease to lie in wait to destroy each other. There is no reason to hold that they will not continue their strife which will make the final trust, within the final trust, an ever-lessening self-destroying "inner circle" inevitable, until all shall collapse together.8

Second. Under the final trust, the fact of exploitation will be so clear, the exploiters will be so few, their victims will be so many, that compromise on any terms will be impossible."

Third. The workers could not be made content with a "full dinner pail." They have contended for that because they did not have it. Give it to them and make its possession secure and they will make a fight for

8. "Paradoxical as it may seem, the riches of a nation can be measured by the violence of the crises which they experience.”—Clement Juglar, quoted in Burton's Crises and Depressions, p. 2.

"In spite of the splendor of isolated achievements in the construction of great businesses, there is some ground for saying that the lack of a well co-ordinated system of control makes industry resemble at present (1900) a mob rather than an army Indeed, the headlong passion of the mob in which each stimulates the other, and because there is no plan things are overdone, resembles somewhat the stress of competition which when unrestrained ends in over-production."-Jones: Economic Crises, pp. 48-49.

9. "Bad kings and governors help us, if only they are bad enough." -Emerson: Natural History of the Intellect, p. 220.

"In the trusts, freedom of competition changes into its very opposite-into monopoly; and the production without any definite plaa of capitalistic society capitulates to the production upon a definite plan of the invading socialistic society. Certainly this is so far still to the benefit and advantage of the capitalists. But in this case the exploitation is so palpable that it must break down. No nation will put up with production conducted by trusts, with so barefaced an exploitation of the community by a small band of dividend-mongers."Engels: Socialism, Utopian and Scientific, p. 69.

"Man casts aside his worn-out tools, but he keeps all that he has won by means of them."-Lefevre: Race and Language, p. 63.

more, and now having full stomachs, will increase the fury of their demand as they are stronger to make demands.10

It should be remembered, when the great estates in ancient Rome attempted to improve the lot of their slaves so that more slaves could be gotten by birth, when conquest could provide no more, how quickly the effort to improve the slave destroyed slavery.

It should be remembered, when the English landlords found that too many serfs were taking advantage of their right to go, the landlords attempted to keep their serfs by improving the lot of the serf, how quickly serfdom ceased to exist. When capitalism shall once sincerely try to improve the lot of the workers, that will be the end of capitalism.

If the final trust keeps on its way of capitalistic production and exploitation, it must collapse. If the final trust tries to keep the peace and perpetuate itself by offering the workers half a loaf, they will proceed to demand and to take possession of the whole bakery itself. And, hence, again, the culmination of capitalism will be its own collapse.

188. Summary.-1. The culmination of capitalism will involve its collapse for the following reasons:

(a) Capitalism, depends upon a foreign market in which to sell its surplus products. The culmination of capitalism will make all markets into a single world market and make an end of the foreign market.

(b) Capitalism depends for the investment of its profits upon larger and larger purchases of the world's

10. "The mere fact of satisfying wants or leaving them unsatisfied is one of the principal causes of their development, change in character, or complete suppression. Many wants, if regularly satisfied, tend to increase in strength. There are also many which, if left unsatisfied will diminish in intensity; and some will die out entirely. The desire for works of art is strengthened by the study of art. The desire for knowledge is increased by its acquisition."-Osborne: Principles of Economics, pp. 12-13.

productive property. The culmination of capitalism will come when the final trust shall have bought a controlling interest in the earth. The profits cannot then be re-invested, and the profit system must collapse.

(c) Capitalism can continue only so long as the workers shall continue to consent to its existence. The culmination of capitalism will make impossible any rational provision for the existence of the working class under capitalism. Without the consent of the working class, capitalism must collapse.

2. The creation of a benevolent feudalism as the culmination of capitalism will be impossible, and for the following reasons:

(a) Because the struggle for mastery among the masters will continue until all collapse.

(b) Because of the impossibility of longer concealing the infamous nature of capitalistic exploitation from the knowledge of those exploited.

(c) Because to grant satisfaction to the present desires of the workers will create new demands, with added power to enforce them, until they will have demanded and obtained all there is of the earth and its resources for all mankind.

REVIEW QUESTIONS.

1. What is the principal reason why any one country cannot dispose of all of its staple products at home?

2. What must happen to the producers of other countries whenever a new country wins the trade of the world-market?

3. When a single combination shall own the industries of all countries, where, then, can a foreign market be found for the surplus products of any country?

4. When the world-trust has bought the world, where, then, will it make further investments of its earnings?

5. Will the world-trust be able to provide work for all?

6. Will the handful of private owners of the earth be able to protect their titles?

7. Why not a benevolent feudalism?

CHAPTER XII

A SUMMARY OF PART SECOND

189. 1. The early forms of capitalism began when slavery began.

2. Slavery was the result of the wars of the later days of barbarism.

3. Slavery was abandoned by the masters for serfdom when that was found to be the more profitable form of servile toil.

4. Serfdom was changed to the wage system by the masters; and the serfs who were evicted from the feudal estates became wage-workers in the rising factory towns.

5. The workers who remained in the country grew into self-employing workers, only to have their selfemployment made impossible by the later developments of capitalism.

6. The era of invention came as the result of the selfemployment in the free cities of Europe and on the American frontier.

7. The new machinery made joint ownership, joint labor and the larger market inevitable; and joint ownership grew into the corporation.

8. Competing corporations, both by the destruction of the weaker competitors and by the combina