than at times of somewhat greater security, a
very large proportion was never employed at all, because the hazard of
business was always very great in the best of times.

"It should be also noted that the great amount of capital always
seeking employment where tolerable safety could be insured terribly
embittered the competition between capitalists when a promising opening
presented itself. The idleness of capital, the result of its timidity,
of course meant the idleness of labor in corresponding degree.
Moreover, every change in the adjustments of business, every slightest
alteration in the condition of commerce or manufactures, not to speak
of the innumerable business failures that took place yearly, even in
the best of times, were constantly throwing a multitude of men out of
employment for periods of weeks or months, or even years. A great
number of these seekers after employment were constantly traversing the
country, becoming in time professional vagabonds, then criminals. 'Give
us work!' was the cry of an army of the unemployed at nearly all
seasons, and in seasons of dullness in business this army swelled to a
host so vast and desperate as to threaten the stability of the
government. Could there conceivably be a more conclusive demonstration
of the imbecility of the system of private enterprise as a method for
enriching a nation than the fact that, in an age of such general
poverty and want of everything, capitalists had to throttle one another
to find a safe chance to invest their capital and workmen rioted and
burned because they could find no work to do?

"Now, Mr. West," continued Dr. Leete, "I want you to bear in mind that
these points of which I have been speaking indicate only negatively the
advantages of the national organization of industry by showing certain
fatal defects and prodigious imbecilities of the systems of private
enterprise which are not found in it. These alone, you must admit,
would pretty well explain why the nation is so much richer than in your
day. But the larger half of our advantage over you, the positive side
of it, I have yet barely spoken of. Supposing the system of private
enterprise in industry were without any of the great leaks I have
mentioned; that there were no waste on account of misdirected effort
growing out of mistakes as to the demand, and inability to command a
general view of the industrial field. Suppose, also, there were no
neutralizing and duplicating of effort