Other nations bought our products for less than they
must have spent to raise them at home, and yet for
so much more than they cost us, that profits rolled
in Atlantic waves upon our capitalists. When
the workers, by their trades-unions, demanded a share
of the luck in the form of advanced wages, it paid
better to give them the little they dared to ask than
to stop gold-gathering to fight and crush them.
But now our customers have set up in their own countries
improved copies of our industrial organization, and
have discovered places where iron and coal are even
handier than they are by this time in England.
They produce for themselves, or buy elsewhere, what
they formerly bought from us. Our profits are
vanishing, our machinery is standing idle, our workmen
are locked out. It pays now to stop the mills
and fight and crush the unions when the men strike,
no longer for an advance, but against a reduction.
Now that these unions are beaten, helpless, and drifting
to bankruptcy as the proportion of unemployed men in
their ranks becomes greater, they are being petted
and made much of by our class; an infallible sign
that they are making no further progress in their
duty of destroying us. The small capitalists are
left stranded by the ebb; the big ones will follow
the tide across the water, and rebuild their factories
where steam power, water power, labor power, and transport
are now cheaper than in England, where they used to
be cheapest. The workers will emigrate in pursuit
of the factory, but they will multiply faster than
they emigrate, and be told that their own exorbitant
demand for wages is driving capital abroad, and must
continue to do so whilst there is a Chinaman or a
Hindoo unemployed to underbid them. As the British
factories are shut up, they will be replaced by villas;
the manufacturing districts will become fashionable
resorts for capitalists living on the interest of
foreign investments; the farms and sheep runs will
be cleared for deer forests. All products that
can in the nature of things be manufactured elsewhere
than where they are consumed will be imported in payment
of deer-forest rents from foreign sportsmen, or of
dividends due to shareholders resident in England,
but holding shares in companies abroad, and these
imports will not be paid for by ex ports, because
rent and interest are not paid for at all—a
fact which the Free Traders do not yet see, or at any
rate do not mention, although it is the key to the
whole mystery of their opponents. The cry for
Protection will become wild, but no one will dare resort
to a demonstrably absurd measure that must raise prices
before it raises wages, and that has everywhere failed
to benefit the worker. There will be no employment
for anyone except in doing things that must be done
on the spot, such as unpacking and distributing the
imports, ministering to the proprietors as domestic
servants, or by acting, preaching, paving, lighting,
housebuilding, and the rest; and some of these, as


