4th December, 1906, at 7.30 p.m. The Fabian
Society. November, 1906 (pp. 48).

[37] See his "New Worlds for Old," Chapter III, The First Main
Generalisation of Socialism, which according to Mr. Wells is as
follows:--

"The ideas of private individual rights of the parent and of his
isolated responsibility for his children are harmfully exaggerated in
the contemporary world. We do not sufficiently protect children from
negligent, incompetent, selfish, or wicked parents.... The Socialist
holds that the community should be responsible ... it is not simply the
right but the duty of the State ... to intervene in any default for the
child's welfare. Parentage rightly undertaken is a service as well as a
duty to the world ... in any completely civilised state it must be
sustained, rewarded, and controlled...."

Except for the last three words all this is neither new nor
controversial amongst not merely Socialists but the mildest of social
reformers, always excepting the Charity Organisation Society. The last
word is not, I think, further explained.

[38] A Tramway or a Gasworks consists of two things: the actual plant,
and the nominal capital which represents its value. When the plant is
municipalised, its control is vested in the community, and the
shareholders are "compensated" with municipal securities or cash
obtained by loans from other investors in these securities. The capital
value of the tramway still virtually belongs to the private holders of
the municipal loan. But no second such step is possible. Holders of
municipal stock cannot be "compensated," if it is taken from them. They
can be paid off; or their property can be confiscated either by taxation
or by repudiation of the debt: there is no middle course. The whole
problem therefore arises from confusion of thought.

See Fabian Tract 147 "Capital and Compensation."

Chapter X

The Policy of Expansion: 1907-12

Statistics of growth--The psychology of the Recruit--Famous
Fabians--The Arts Group--The Nursery--The Women's Group--Provincial
Fabian Societies--University Fabian Societies--London Groups
revived--Annual Conferences--The Summer School--The story of
"Socialist Unity"--The Local Government Information Bureau--The Joint
Standing Committee--Intervention of the International Socialist
Bureau.

The episode described in the last chapter, which took place during the
years 1906 to 1908, was accompanied by many other developm