REPRINTED FROM THE FOURTH EDITION (1905)

LONGMANS, GREEN, AND CO. 39 PATERNOSTER ROW, LONDON FOURTH AVENUE & 30th STREET, NEW YORK BOMBAY, CALCUTTA, AND MADRAS 1915

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DEDICATED BY PERMISSION TO THE SOCIETY OF ANTIQUARIES OF LONDON

PREFACE.

When I had the honour to lay the two papers which have expanded into this volume before the Society of Antiquaries, it was with a confession and an apology which, in publishing and dedicating to them this Essay, I now repeat.

I confessed to having approached the subject not as an antiquary but as a student of Economic History, and even with a directly political interest. To learn the meaning of the old order of things, with its 'community' and 'equality' as a key to a right understanding of the new order of things, with its contrasting individual independence and inequality, this was the object which in the first instance tempted me to poach upon antiquarian manors, and it must be my apology for treating from an economic point of view a subject which has also an antiquarian interest.

To statesmen, whether of England or of the new Englands across the oceans, the importance can hardly be over-estimated of a sound appreciation of the nature of that remarkable economic evolution in the course of which the great English speaking nations have, so to speak, become charged in our time with the trial of the experiment—let us hope also with the solution of the problem—of freedom and democracy, using the words in the highest political sense as the antipodes of Paternal Government and Communism.

Perhaps, without presumption, it may be said that the future happiness of the human race—the success or failure of the planet—is in no small degree dependent upon the ultimate course of what seems, to us at least, to be the main stream of human progress, upon whether it shall be guided by the foresight of statesmen into safe channels or misguided, diverted, or obstructed, till some great social or political convulsion proves that its force and its direction have been misunderstood.