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I do not call this about-face a crime on his part: M. Reybaud is one of those men who cannot justly be held responsible for their metaphors. He had spoken before reflecting, he retracted: what more natural! If the socialists must blame any one, let it be M. Dunoyer, who had prompted M. Reybaud's recantation by this singular compliment.

It was an important modification, as M. Dunoyer brought clearly to his notice, but it still permitted M. Reybaud to write at the same time: These symptoms are grave; they may be considered as prophecies of a confused organization, in which labor would seek an equilibrium and a regularity which it now lacks. . . . At the bottom of all these efforts is hidden a principle, association, which it would be wrong to condemn on the strength of irregular manifestations.

Nevertheless the English are on the watch, ready to take possession of this valuable branch of commerce. Let them prohibit the seed, says M. Reybaud, the oil will reach us mixed, in soap, or in some other way: we shall have lost the profit of manufacture.

And M. Reybaud more and more deplores the SECRET INFLUENCE OF SOCIALISM on the best minds, and stigmatizes see the malice! the UNPERCEIVED CONTAGION with which even those who have broken lances against socialism allow themselves to be inoculated. "Moreover," adds M. Reybaud, "the tendency of political economy is no longer to theory, but to practice.

Now, government is by nature so incapable of directing labor that every reward bestowed by it is a veritable larceny from the common treasury. M. Reybaud shall furnish us the text of this induction.

M. Dunoyer was not slow in perceiving that his words had not fallen on closed ears. He relates, for the glory of sound principles, that, "in a second edition of the `Studies of Reformers, M. Reybaud has himself tempered the absolute tone of his expressions. He has said, instead of could do EVERYTHING, could do MUCH."

Then, in order to better assure these brilliant results, M. Reybaud, impelled by his patriotism and going straight in pursuit of his idea, observes very judiciously in our opinion that the government should abstain henceforth from all treaties of reciprocity in the matter of transportation: he asks that French vessels may carry the imports as well as the exports of French commerce.

Moreover, M. Reybaud, once placed on the ground of economic ideas, would find the more difficulty in being consistent with himself because of the clearness of his mind and the accuracy of his reasoning. I am going to make this curious experiment under the reader's eyes.