Hogarth stood briskly up.

“What I say, I can see, is not new to you?” said he.

“No, not new”, Loveday confessed: “I believe that it is quite an ancient theory; there are even savage tribes whose land-tenure is not unlike what you advocate—the Basutos, for example”.

“And are these Basutos richer, happier, prettier fellows than average Englishmen?”

“Oh, beyond doubt. Don't suppose that I am gainsaying you: I am only showing you that the theory is not new—”

“But why do you persist in calling it a theory? Is the fact that one and one make two a theory?”—Hogarth's brow growing every moment redder.

“What can one call it?”

“Call it what you like! But do you believe it?”

“It is quite possibly true; and now that you say it I believe it; but I have never seriously considered the matter.”

“Why not?”