may be regarded as impossible. If this be so, then unity
through trade and finance will be less universal, but more close-knit in
its narrower scope.

BOOKS FOR REFERENCE

A.L. Bowley, _England's Foreign Trade_. Swan Sonnenschein.

C.K. Hobson, _The Export of Capital_. Constable.

W.S. Jevons, _Money and the Mechanism of Exchange_. Kegan Paul, Trench,
Truebner & Co.

Smith's _Wealth of Nations_, chs. i-iv.

FOOTNOTES:

[Footnote 24: _Wealth of Nations_, Bk. I, ch. ii.]

[Footnote 25: 1 Kings ix.]

[Footnote 26: Rawlinson's translation.]

[Footnote 27: Jevons, _Money as Mechanism of Exchange_, p. 1.]

[Footnote 28: Motley, _United Netherlands_, ch. xxxiii.]

[Footnote 29: Thorold Rogers, _Economic Interpretation of History_, ch.
xx.]

[Footnote 30: _England's Foreign Trade in the Nineteenth Century_, by
A.L. Bowley.]

X

INTERNATIONAL INDUSTRIAL LEGISLATION

We have learned to look upon the doctrine of interdependence of classes
within the nation as a truth self-evident to all eyes unblinded by
wilful prejudice or ignorance of that disabling kind charitably defined
by the Roman Catholic Church as invincible. To say that unemployment in
the mills of Lancashire or the shipyards of the Clyde not only affects
the happiness and well-being of cotton operatives and boiler-makers and
the great businesses which are carried on by their means, but depresses
the national vitality and puts a drag on the national energy throughout
the kingdom--to assert that no people can be wholly strong and vigorous
while any corner of its territory or any layer in its social strata
remains in the possession of a group physically weak, mentally
undeveloped, and morally below the standard of ethics which, as a
people, it has tacitly agreed to accept as necessary, seems to many of
us in these days to state truisms. Yet it is not so long ago that facts
which we now presume to be familiar, at least to every undergraduate,
were the dangerous discovery of the few who, in an age when people said
'Socialist' as Mr. Pecksniff said 'Pagan', had the temerity to point
out, that in things human and political as in mechanics, a chain was and
could be no stronger than its weakest link. Even now, in the reaction,
often only half conscious, of the employing class against any force
which tends to raise the employed to a social plane less removed from
that on which they themselves move, in the genuine dislike of
education, concealed un