met with the most conclusive evidence that the production of wealth in this country is so vast and so rapidly augmenting that it is idle to say poverty exists because enough wealth is not produced. I will not weary you with figures, I will only remind you that during the last twenty years our foreign trade has more than trebled; and if you wish for any further proof of the increase in our national wealth you can yourselves observe the vast manufactories and warehouses which have been erected, the mighty docks which have been opened, and the rapid extension throughout the country of railways, which bring wealth to every district through which they are carried. Everything therefore concerning the amount of wealth produced appears to be satisfactory, but a very different picture is exhibited if we reflect upon the way in which this vast wealth is distributed. This augmentation of national wealth has not arrested the Irish exodus. Many classes of labourers have still to work as long, and for as little remuneration as they received in past times, and one out of every twenty inhabitants of England is sunk so deep in pauperism that he has to be supported by parochial relief The advance in the material prosperity of Liverpool, of Glasgow, and other centres of commerce is unprecedented, yet in close contiguity to this growing wealth there

are still the same miserable homes of the poor, the same pestilential courts and alleys, where fevers and other diseases are bred which decimate the infantile population with unerring certainty. Here then is a political economical question of surpassing interest and importance to solve, and the solution of which will form the basis of our investigations. How is it that this vast production of wealth does not lead to a happier distribution? How is it that the rich seem to be constantly growing richer, whilst the poverty of the poor is not perceptibly diminished?

In attempting to work out this problem, I shall endeavour carefully to abstain from indulging in any vituperation against either employers or employed. The chief object which I shall have in view will be to describe the different economic systems which may regulate the production and distribution of wealth, and according as any economic system may prevail, I shall attempt to explain what arrangements may be adopted so as to bring the greatest happiness to the community in general. Thus in our own country three distinct classes usually share the proceeds of agricultural industry, viz. landowners, farmers, and labourers. I shall compare this agricultural economy with that of other countries where the land is cultivated by its owner. Again, with regard

to our commerce and trade, the capital is almost invariably supplied by the employer, and the employed consequently work for hired wages. When the produce which the land yields is distributed, between the landowners, farmers, and labourers, the amount which is allotted to each of these three classes is regulated by definite laws which no artificial arrangements can permanently control. When the capital and labour which any industry requires is supplied by distinct sets of individuals, the relative amount which the employer receives as profits, and which the employed receive as wages, is also determined by precise and well ascertained laws. We shall therefore be naturally led to consider the condition of the labourer under two distinct aspects. We must not only investigate the various circumstances which may affect his position if he continues simply to work for hire, but we must also attempt to trace some of the many consequences which will ensue if the labourer advances into a different social position, and supplies some of the capital which his industry requires. Hence some of the topics can be readily suggested which will fall within the scope of our inquiries. For instance, I shall describe to you the landed tenure which prevails in England with the view of showing what are its effects on the cultivation of the soil, and what

is the influence it exerts upon those who are engaged in agriculture. I shall give you a detailed account of the Co-operative movement, and the facts which I shall adduce will prove that a new industrial era has been inaugurated. I shall endeavour carefully to explain the functions of capital, with the view of showing you the causes which regulate the remuneration of labour. You will then be able to perceive that employers and employed would both be benefited by the introduction of some system of Co-partnership between capital and labour. I shall illustrate the necessity of improving the relations between masters and men, by considering the influence which is exerted by Strikes and Trades Unions. Finally, I believe the full importance of the subject we are discussing will be understood when some of the considerations connected with emigration are laid before you. Many countries are now competing for British labour; if therefore the condition of our industrial classes does not improve, that labour which creates our wealth, and maintains our greatness, will be attracted to other lands.

IO

CHAPTER II.

The Land Tenure of England.

IT is an admitted fact that at the present time in England the average size of farms is increasing, and that a large proportion of the aggregate land in the country is gradually passing into the hands of large proprietors*. Before we trace the consequences of these changes, it will be well to enquire whether they are produced by artificial regulations, or whether they are due to natural causes. It will not be difficult to distinguish between the natural and artificial causes which exert an influence to accumulate the landed property in this country in the hands of a smaller number of proprietors. Those causes which are artificial are the laws which affect landed property, and these laws cannot be justly continued if it can be shown that they are not advantageous to the general

* It has been calculated that a century since, there were three times as many landed-proprietors in England as there are at the present time.