So also, the various royal establishments of Europe, e.g., afford an extreme but therefore all the more convincing illustration of the same logical fallacy.

These establishments and personages are great and authentic repositories of national prestige, and they are therefore unreflectingly presumed by their several aggregations of subjects to be of some substantial use also in some other bearing; but it would be a highly diverting exhibition of credulity for any outsider to fall into that amazing misconception.

But the like is manifestly true of commercial turnover and export trade among modern peoples; although on this head the infatuation is so ingrained and dogmatic that even a rank outsider is expected to accept the fallacy without reflection, on pain of being rated as unsafe or unsound.

Such matters again, as the dimensions of the national territory, or the number of the population and the magnitude of the national resources, are still and have perhaps always been material for patriotic exultation, and are fatuously believed to have some great significance for the material fortunes of the common man; although it should be plain on slight reflection that under modern conditions of ownership, these things, one and all, are of no consequence to the common man except as articles of prestige to stimulate his civic pride.

The only conjuncture under which these and the like national holdings can come to have a meaning as joint or collective assets would arise in case of a warlike adventure carried to such extremities as would summarily cancel vested rights of ownership and turn them to warlike uses.