Unless we reorganize our society socialistically--humanly a most arduous and magnificent enterprise, economically a most simple and sound one--Free Trade by itself will ruin England, and I will tell you exactly how.

When my father made his fortune we had the start of all other nations in the organization of our industry and in our access to iron and coal.

Other nations bought our products for less than they must have spent to raise them at home, and yet for so much more than they cost us, that profits rolled in Atlantic waves upon our capitalists.

When the workers, by their trades-unions, demanded a share of the luck in the form of advanced wages, it paid better to give them the little they dared to ask than to stop gold-gathering to fight and crush them.

But now our customers have set up in their own countries improved copies of our industrial organization, and have discovered places where iron and coal are even handier than they are by this time in England.