SECT.

the scheme. Foreign trade under Collectivism.
Difficulties of carrying it on in the absence of the
money measure of values. Difficulty of keeping
values of foreign commodities fixed

PAGE

204-212

IV. Final conclusion as to the Socialist principle of

distribution.

212-215

CHAPTER VII.

IN THE SOCIALIST STATE (continued).

THE SUPPRESSION OF MONEY AND MARKETS.

I. How far the abolition of money proposed by the col-

lectivists is possible. The labour cheques would

take the place of money: Would be subject to

all the evils of inconvertible paper-money, with other

unknown evils. Impossibility of suppressing market

values and speculation under Socialism. Probable

increase of speculation in worse forms than at

present. Cures for the present evils connected with

the fluctuations of values. Difficulties of applying

remedies, especially in the case of fraudulent finan-

cing and "company floating"

216-228

II. The recent increase in the formation of companies

and syndicates. Significance of the syndicates as

a possible stage in the direction of Socialism. Why

a general syndicate occupation of the field of business

and industry is unlikely for a long time yet

228-234

CHAPTER VIII.

IN THE SOCIALIST STATE (concluded).

UNPRODUCTIVE LABOURERS. THE CHURCH AND THE

GOVERNMENT.

I. How far certain kinds of unproductive labourers of the
less skilled sort might be enrolled under service of
the State. Inconvenience of suppressing domestic
servants and substituting for them public function-
aries as proposed by the Socialists. The Professions

SECT.

under Socialism. Individuals with special skill in

much request must be permitted to reap the natural

rewards of it. Examples: the physician, the advocate,

the artist, &c. The teaching service, like the civil

and the military service, might fit into Socialism

without great change

PAGE

. 235-241

II. Possible position of Men of Letters and of

Philosophers under Socialism. Importance of the

functions of the latter in modern society. The

Philosophers and Socialism. The Church and

Socialism

242-249

III. The Government under Socialism. Reticence of

Socialist authorities on this topic. Mode in which

superiors are to be selected. A complete political

revolution implied, as well as a social and economi-

cal one. How far a violent revolution would be likely

to further the Socialist programme

250-257

IV. Final pronouncement on Collectivism. True course

for the working class, their friends, and all the dis-

contented under the present order

257-265

CHAPTER IX.

PRACTICABLE STATE SOCIALISM:-(A) LEGISLATIVE.

I. The case of the Socialists, so far as real, and what

makes its strength. The supporters of Socialism 267-272

II. Co-operative production. Where it might succeed.

How far likely to be a solution of the Capital and

Labour question. Difficulties in the way of success.

State assistance under certain conditions to associa-

tions of labourers might be tried as an experiment.

Best modes of composing the difference between

Capital and Labour at the present time

.272-282

III. The Land Question. In England the creation of
small holdings should be aimed at, also allotments
to agricultural and other labourers; also the buying
out by the municipalities of the speculative holders
of land in or near the large towns. How far
a certain kind of limited but healthy Socialism

IV. How to provide greater equality of chances to ability

in the lower social grades. Importance of this kind

of Socialism, which is also the most practicable.

Reasons in favour of it

288-297

V. The taxation of inheritances. Justice of the public

claim to part of inheritances. How most appro-

priately to apply the funds raised. Mill's more

extreme proposal. Probable results of it. The in-

crease should be gradual, and should not go much

ahead of the general sentiment or set of opinion.

Postulates moral improvement in individuals to make

it effective

297-308

VI. The unemployed labourers. Importance of knowing

how to deal with the question. Explanation of the

increased number of the unemployed in recent times.

Possible remedies for unemployed labour

308-320

VII. The Right to Labour. Consequences of conceding

the right according to Mill. His conclusions not

accepted by certain social thinkers. Reasons why the

right to labour cannot be guaranteed by the State

under the existing organization of industry.

321-326

CHAPTER X.

ON SOME PROPOSED REMEDIES FOR LOW WAGES AND

UNEMPLOYED LABOUR.

Con-

I. A minimum wage to be fixed, (1) by authority; (2) by

labourers themselves through Trades Unions.

sequences of the first proposal. How far the second

course would be beneficial to the labourers. On

what the wages of common labour depend . • 327-332

II. The classical economists' doctrine of an "average

rate of wages." Objections to Mill's method of
determining the average rate by the Wage Fund
theory. His remedies for low wages as based
on that theory. Why wages have not fallen but
risen, though population has greatly increased

SECT.

since Mill wrote. With general free-trade or free
foreign markets our population might indefinitely
increase without wages being reduced. Cairnes'

amended statement of the Wages Fund theory.
His conclusions from it as respects the future of
the labouring classes. Inconvenient consequences
of his reasoning respecting an "average rate of
wages." Criticism of his reasoning. His mistake
as to the comparative shares of the landlords,
capitalists, and the labouring classes. His reasons
why the share of the latter has not increased
in a greater proportion. His conclusions compared
with those of Mr. Giffen, as based on statistics.
Remedies on the economical side for low wages.
On the moral side. What the labourers themselves
can do to raise their condition. What the State
can do. Complete Socialism a doubtful remedy for
the low wages of unskilled labour

PAGF

332-342

III. The class of casual labourers, and the residuum.

Great difficulty of raising their condition, though

their numbers may be reduced. How far Socialism

could deal with such lowest classes. As now con-

stituted their members would probably prefer the

present system to Socialism

342-346

IV. Confirmation of the conclusions reached by the ex-

amination of some proposed remedies. (1) That of

Mr. Mills for unemployed labourers. Statement of

the plan. Objections .

. 346-353

V. (2) Mr. Charles Booth's remedy for unemployed and

ill-paid labourers. Objections: Without compul-

sion, moral or physical, the plan would not work.

Injustice as well as impolicy of compulsion. Cost-

liness of the experiment. Probable good effects on

the classes just above.

. 353-362

CHAPTER XI.

AN EIGHT HOURS' WORKING DAY.

I. Effects of the legal limitation of the working day.
Assumption in the argument that the amount of

SECT.

PAGE

work required by society is a fixed or constant

quantity: how far true. Probable results as re-

gards our staple industries, especially those in

which we compete with foreign nations. Examina-

tion of the "double shift" argument in favour

of an eight hours' day. Probable general result

of the system if practicable. How far the objec-

tions to an eight hours' day would be removed

by an international understanding between our Go-

vernment and the Governments of competing coun-

tries
362-369

II. In what kinds of industries the reduction might be

accepted without resulting in loss to employers and

with benefit to the unemployed. Effect on other

labourers in those cases, where only the State should

interfere. Probable gain by the reduction of hours

in the mining industry: as also in shops. Other

industries where hours are too long. Effects of

reduction in these cases. Recapitulation

• 369-376

CHAPTER XII.

PRACTICABLE STATE SOCIALISM :—(B) ADMINISTRATIVE.

1. Tendency of the State to extend its functions in the

industrial sphere. In what direction such extension

might be advantageous. Advantages as respects

the State purchase and working of the railways.

Reasons why any extension of Government manage-

ment should be slowly and tentatively made. Why

mining industry is nevertheless specially suitable

for Government management. Production and

distribution in general should be left to private

enterprise. Exceptions to this.

377-385

II. Why agricultural industry leaves no room for State

enterprise or for co-operative farming as proposed

by the Socialists, though there may be room for the

older agrarian Socialism aiming at the diffusion of

landed property
385-388

III. The school of Laissez-faire. The social and political
ideal of Herbert Spencer. The perfect social state
of the far future. Conditions of attaining it. Objec-