retic
merits or demerits of the actor-manager system, because the dominant
principle of current theatrical enterprise in London and America
renders most precarious the future existence of that system. The
actor-manager seems, at any rate, threatened in London by a new and
irresistible tide of capitalist energy. Six or seven leading theatres
in London have recently been brought under the control of an American
capitalist who does not pretend to any but mercantile inspiration. The
American capitalist's first and last aim is naturally to secure the
highest possible remuneration for his invested capital. He is
catholic-minded, and has no objection to artistic drama, provided he
can draw substantial profit from it. Material interests alone have any
real meaning for him. If he serve the interests of art by producing an
artistic play, he serves art by accident and unconsciously: his object
is to benefit his exchequer. His philosophy is unmitigated
utilitarianism. "The greatest pleasure for the greatest number" is his
motto. The pleasure that carries farthest and brings round him the
largest paying audiences is his ideal stock-in-trade. Obviously
pleasure either of the frivolous or of the spectacular kind attracts
the greatest number of customers to his emporium. It is consequently
pleasure of this spectacular or frivolous kind which he habitually
endeavours to provide. It is Quixotic to anticipate much diminution in
the supply and demand of either frivolity or spectacle, both of which
may furnish quite innocuous pleasure. But each is the antithesis of
dramatic art; and whatever view one holds of the methods of the
American capitalist, it is irrational to look to him for the
intelligent promotion of dramatic art.

III

From the artistic point of view the modern system of theatrical
enterprise thus seems capable of improvement. If it be incapable of
general improvement, it is at least capable of having a better example
set it than current modes can be reckoned on to offer. The latter are
not likely to be displaced. All that can be attempted is to create a
new model at their side. What is sought by the advocates of a
municipal theatre is an institution which shall maintain in
permanence a high artistic ideal of drama, and shall give the public
the opportunity of permanently honouring that ideal. Existing theatres
whose programmes ignore art would be unaffected by such a new
neighbour. But existing enterprises, which, as far