"In other words," said Vane briefly, "you claim for the masses the right to commit robbery on a large scale."

"For just so long as that view of robbery holds, Captain Vane, for just so long will there fail to be any real co-operation between you and us. For just so long as you are convinced that your vested right is the true one, and that ours is false—for just so long will the final settlement by quiet methods be postponed. But if you make it too long the final settlement will not come by quiet means."

"Your proposal, then, is that we should commit suicide with a good grace?" remarked Vane. "Really, Mr. Ramage, it won't do. . . . I, personally, if I owned property, would go into the last ditch in defence of what was mine." Into his mind there flashed Joan's words. . . . "It's ours. I tell you, ours," and he smiled grimly. "Why, in the name of fortune, I should give what I possess to a crowd of scally wags who haven't made good, is more than I can fathom. . . ."

"It is hardly likely to go as far as that," said the other with a smile. "But the time is coming when we shall have a Labour Government—a Government which at heart is Socialistic. And their first move will be to nationalise all the big industries. . . . How far will property meet them and help them? Will they fight—or will they co-operate? . . . It's up to property to decide. . . ."

"Because you will have forced the issue," said Vane; "an issue which, I maintain, you have no right to force. Robbery is robbery, just the same whether its sanctioned by an Act of Parliament, or whether it's performed by a man holding a gun at your head. . . . Why, in God's name, Mr. Ramage, can't we pull together for the side? . . ."

"With you as the leaders—the kind employers?"

"With those men as the leaders who have shown that they can lead," said Vane doggedly. "They will come to the top in the future as they have in the past. . . ."

"By all manner of means," cried Ramage. "Leaders—brains—will always rise to the top; will always be rewarded more highly than mere manual labour. . . . They will occupy more remunerative positions under the State. . . . But the fruits of labour will only be for those who do the work—be it with their hands or be it with their heads. The profiteer must go; the private owner must go with his dole here and his dole there, generally forced from him as the result of a strike. I would be the last to say that there are not thousands of good employers—but there are also thousands of bad ones, and now labour refuses to run the risk any more."

"And what about depreciation—fresh plant? Where's the capital coming from?"

"Why, the State. It requires very little imagination to see how easy it would be to put away a certain sum each year for that. . . . A question of how much you charge the final purchaser. . . . And the profiteer goes out of the picture. . . . That's what we're aiming at; that is what is coming. . . . No more men like the gentleman sitting three tables away—just behind you; no more of the Baxters fattening on sweated labour." His deep-set eyes were gleaming at the vision he saw, and Vane felt a sense of futility.