Wherever the Industrial system has reached its second generation it is threatened by two mortal perils. The first is the demand by an organized proletariat for sustenance without relation to the product of its labor; a demand which threatens the very existence of PROFIT (on the necessary presumption of which Capitalism reposes). The second, and immediately graver danger is that of a revolt for the confiscation of the means of production.

The choice lies between property on the one hand and slavery, public or private, on the other. There is no third issue.

Since it is to the advantage of the wage-payer to pay as little as possible, even well-paid labor will have no more than what is regarded in a particular society as the reasonable level of subsistence. The lower ranks of labor will commonly have less, and if public relief were afforded even up to the wage-level of the lowest ranks of labor, that relief would compete in the labor market; check or dry up the supply of wage-labor. It would tend to render the performance of work by the wage-earner redundant.

The very large units of production and exchange have access to credit on a large scale, sometimes without any cover at all, merely upon the prospect of their success, and always upon terms far easier than are open to their smaller rivals. It is perhaps on this line of easier credit that large capital today does most harm to small capital, drives it out and ruins it.

Remote and ineffectual don.

When people call this beast to mind, They marvel more and more At such a little tail behind, So large a trunk before.

I shoot the Hippopotamus with bullets made of platinum, because if I use the leaden one his hide is sure to flatten em.