we must not fall into panic because that results in crime, nor yet suffer revolt because that ends in suicide, what course remains open to us? Surely that of control, which in a democracy means self-control. If this War has proved anything, it has proved that these gigantic forces of modern production are capable of control. Beforehand it was assumed by many that a World-War would bring so general a financial crash that it would not—could not—be allowed to take place. Yet how easily, when it actually befell, were the British and German systems of credit disengaged by the simple device of using the national credits to carry the roots of individual credit which were pulled out of the enemy soil.
If you once admit control of the Going Concern to be your aim, then the ideal State-unit of your League must be the nation of balanced economic development. Raw materials are unequally distributed over the world, but the primary pursuits of men, other than the growing of the staples of food proper to each region, form in these days but a relatively small part of the total of Industry. Minerals must be won in the mines and tropical produce can only be grown within the tropics, but both minerals and tropical pro-
