e ready at the call.
The conditions of the time made all these possible. The land-holding
peasantry of England--and it is here that the revolution was
accomplished--had been largely dispossessed and pauperized under Henry
VIII, Edward VI and Elizabeth, while the development of the wool-growing
industry had restricted the arable land to a point where it no longer
gave employment to the mass of field labourers. The first blast of
factory production threw out of work the whole body of cottage weavers,
smiths, craftsmen; and the result was a great mass of men, women, and
children without defense, void of all rights, and given the alternative
of submission to the dominance of the exploiters, or starvation.

Without capital the new industry could neither begin nor continue. The
exploits of the "joint-stock companies" invented and perfected in the
eighteenth century, showed how this capital could easily be obtained,
while the paralyzing and dismemberment of the Church during the
Reformation had resulted in the abrogation of the old ecclesiastical
inhibition against usury. The necessary capital was forthcoming, and the
foundations were laid for the great system of finance which was one of
the triumphant achievements of the last century.

The question of markets was more difficult. It was clear that, through
machinery, the exploitation of labour, and the manipulations of finance,
the product would be enormously greater than the local or national
demand. Until they themselves developed their own industrial system, the
other nations of Europe were available, but as this process proceeded
other markets had to be found; the result was achieved through
advertising, i.e., the stimulating in the minds of the general public of
a covetousness for something they had not known of and did not need, and
the exploiting of barbarous or undeveloped races in Asia, Africa,
Oceanica. This last task was easily achieved through "peaceful
penetration" and the preempting of "spheres of influence." In the end
(i.e., A.D. 1914), the whole world had so been divided, the stimulated
markets showed signs of repletion, and since exaggerated profits meant
increasing capital demanding investment, and the improvement in
"labour-saving" devices continued unchecked, the contest for others'
markets became acute, and world-politic was concentrated on the vital
problem of markets, lines of communication, and tariffs.

As for the finding or development of competent