ing the confidence and the countenance of the common man; who, when all is said, will always have to do what is to be done. The order of gentlemanly parleying and brokery has, therefore, with many apprehensions of calamity, been reluctantly and tardily giving ground before something that is of a visibly underbred order. Increasingly underbred, and thereby insensibly approaching the character of this war situation, but accepted with visible reluctance and apprehension both by the ruling class and by the underlying population. The urgent necessity of going to such a basis, and of working out the matter in hand by an unblushing recourse to that matter-of-fact logic of mechanical efficiency, which alone can touch the difficulties of the case, but which has no respect of persons,—this necessity has been present from the outset and has been vaguely apprehended for long past, but it is only tardily and after the chastening of heavy penalties on this gentlemanly imbecility that a substantial move in that direction has been made. It has required much British resolution to overcome the night-fear of going out into the unhallowed ground of matter-of-fact, where the farthest earlier excursions of the governmental agencies had taken them no farther than such financial transactions as are incident to the accomplishment of anything whatever in a commercial nation. And then, too, there is a pecuniary interest in being interested in financial transactions.
This shifting of discretionary control out of the hands of the gentlemen into those of the underbred common run, who know how to do what is necessary to be done in the face of underbred exigencies, may conceivably go far when it has once been started, and it may go forward at an accelerated rate if the pressure of necessity lasts long enough. If time be given for habituation to
this manner of directorate in national affairs, so that the common man comes to realise how it is feasible to get along without gentlemen-investors holding the discretion, the outcome may conceivably be very grave. It is a point in doubt, but it is conceivable that in such a case the gentlemanly executive committee administering affairs in the light of the gentlemanly pecuniary interest, will not be fully reinstated in the discretionary control of the United Kingdom for an appreciable number of years after the return of peace. Possibly, even, the régime may be permanently deranged, and there is even a shadowy doubt possible to be entertained as to whether the vested pecuniary rights, on which the class of gentlemen rests, may not suffer some derangement, in case the control should pass into the hands of the underbred and unpropertied for so long a season as to let the common man get used to thinking that the vested interests and the sacred rights of gentility are so much ado about nothing.
Such an outcome would be extreme, but as a remote contingency it is to be taken into account. The privileged classes of the United Kingdom should by this time be able to see the danger there may be for them and their vested interests, pecuniary and moral, in an excessive prolongation of the war; in such postponement of peace as would afford time for a popular realisation of their incompetence and disserviceability as touches the nation's material well-being under modern conditions. To let the nation's war experience work to such an outcome, the season of war would have to be prolonged beyond what either the hopes or the fears of the community have yet contemplated; but the point is after all worth noting, as being within the premises of the case, that there is herein a remote contingency of losing, at least for a time, that unformulated
clause in the British constitution which has hitherto restricted the holding of responsible office to men of pedigree and of gentle breeding, or at least of very grave pecuniary weight; so grave as to make the incumbents virtual gentlemen, with a virtual pedigree, and with a virtual gentleman's accentuated sense of class interest. Should such an eventuality overtake British popular sentiment and belief there is also the remote contingency that the rights of ownership and investment would lose a degree of sanctity.
It seems necessary to note a further, and in a sense more improbable, line of disintegration among modern fixed ideas. Among the best entrenched illusions of modern economic preconceptions, and in economic as well as legal theory, has been the indispensability of funds, and the hard and fast limitation of industrial operations by the supply or with-holding of funds. The war experience has hitherto gone tentatively to show that funds and financial transactions, of credit, bargain, sale and solvency, may be dispensed with under pressure of necessity; and apparently without seriously hindering that run of mechanical fact, on which interest in the present case necessarily centers, and which must be counted on to give the outcome. Latterly the case is clearing up a little further, on further experience and under further pressure of technological exigencies, to the effect that financial arrangements are indispensable in this connection only because and in so far as it has been arranged to consider them indispensable; as in international trade. They are an indispensable means of intermediation only in so far as pecuniary interests are to be furthered or safeguarded in the intermediation. When, as has happened with the belligerents in the present instance, the national establishment
becomes substantially insolvent, it is beginning to appear that its affairs can be taken care of with less difficulty and with better effect without the use of financial expedients. Of course, it takes time to get used to doing things by the more direct method and without the accustomed circumlocution of accountancy, or the accustomed allowance for profits to go to interested parties who, under the financial régime, hold a power of discretionary permission in all matters that touch the use of the industrial arts. Under these urgent material exigencies, investment comes to have much of the appearance of a gratuitous drag and drain on the processes of industry.
Here, again, is a sinister contingency; sinister, that is, for those vested rights of ownership by force of which the owners of "capital" are enabled to permit or withhold the use of the industrial arts by the community at large, on pain of privation in case the accustomed toll to the owners of capital is not paid. It is, of course, not intended to find fault with this arrangement; which has the sanction of "time immemorial" and of a settled persuasion that it lies at the root of all civilised life and intercourse. It is only that in case of extreme need this presumed indispensable expedient of industrial control has broken down, and that experience is proving it to be, in these premises, an item of borrowed trouble. Should experience continue to run on the same lines for an appreciable period and at a high tension, it is at least conceivable that the vested right of owners to employ unlimited sabotage in the quest of profits might fall so far into disrepute as to leave them under a qualified doubt on the return of "normal" conditions. The common man, in other words, who gathers nothing but privation and anxiety from the owners' discretionary sabotage, may conceivably stand to lose his
preconception that the vested rights of ownership are the cornerstone of his life, liberty and pursuit of happiness.