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It may be taken to be 10,000,000 pounds; and that 10,000,000 pounds of loss of wages before the next spring is by no means a measure of the loss this district will incur; for you must take it that the capitalists will be incurring also a loss on their fixed machinery and buildings; and though perhaps not so much as that of the labourer, it will be a very large amount, and possibly, in the opinion of some people, will very nearly approach it.

"Just so," said the teacher, "and on the same principle, when the capitalists of two countries contended for the supplying of a foreign market it was the workers subject to the successful group of capitalists who were most to be pitied, for, other conditions being equal, they were likely to be those whose wages had been cut lowest and whose general condition was most degraded."

It was well known that there were parties in New York who had, and were still realizing immense sums of money by cheating the Government of its legitimate revenue. The Collector of the Port did not care so much about the crews of the vessels, it was the owners and capitalists he was seeking to trail down.

But even if the problems of leadership are solved, and councils of capitalists and labour leaders established, whose decisions will be followed one thing is still certain: no half-measures will do; no seeming cordialities with mental reservations; no simulated generosity which spills out on the first test; nothing but genuine friendliness and desire to pull together.

Then the capitalists believed in themselves, in their value to society, in the propriety of their continued existence in the full enjoyment of their riches and the unlimited exercise of their power. Now they tremble before every insult; call them pro-Germans, international financiers, or profiteers, and they will give you any ransom you choose to ask not to speak of them so harshly.

A rival syndicate was hastily organized, with Sir William Howland, A. R. M'Master, William Hendrie, A. T. Wood, Allan Gilmour, George A. Cox, P. Larkin, James M'Laren, Alexander Gibson, and other well-known capitalists at its head.

"But I can assure you, doctor, that these fellows, at least in my day, had not the slightest idea of revolting against private capitalism as a system. They were very ignorant and quite incapable of grasping so large a conception. They had no notion of getting along without capitalists.

"We'd do better without you, Captain Marvin," said McGinty coldly; "for we have our own police of the township, and no need for any imported goods. What are you but the paid tool of the capitalists, hired by them to club or shoot your poorer fellow citizen?" "Well, well, we won't argue about that," said the police officer good-humouredly.

Their sole recreations were furious drives over break-neck roads; mad, scampering cavalcades through the sedate woods; gambling parties in private rooms, where large sums were lost by capitalists on leave; champagne suppers; and impromptu balls that lasted through the calm, reposeful night to the first rays of light on the distant snowline.

Large numbers of actual settlers will be carried out by capitalists upon agreements to give them half of the land for the improvement of the other half. This can not be avoided. Secret agreements of this kind will be numerous. In the entry of graduated lands the experience of the Land Office justifies this objection.