I. Socialism is Reasonable in Theory.

Evil A.—If factories are private property, then men thrown out of work to save salaries= Revolution. If factories are national property, reduce hours and employ all = No Revolution. Emigration = only one-tenth of evil.

Evil B.—One manager cannot ruin others under Socialism. This is far better for smaller capitalists than the cares of ruin.

Evil C.—Anarchy of production would cease.

Evils D & E.—If instruments are private property, owners get up to £500,000 a year. Manual workers and managers not paid enough to buy present production. If instruments are national property, real workers paid enough to buy far greater production, which is possible, by constructing more machines, and by superior organisation. Middle ages, 1 × 530. Useless workers. Builder, small parcels. Result.

Objections.—1. Drink = education, rich child, poor child, strength, health, morality, prolongation of life, Russian girls. 2. Dirty work. 3. Lazy. 4. Aged and Infirm. 5. Progress. 6. Liberty. 7. What use to buy instruments? 8, 9. Authors. 10. Railways. 11. Interest decreasing. 12. Rich can't eat much.