THE PHILOSOPHY OF COMMERCIAL DEPRESSION. 165 



conservative is a set-back and a hindrance to the attainment of 

 the liberal's greatest ends ; and so on, throughout human affairs, 

 is there a check — beneficial in its regulative influence, but still a 

 check — to progress. 



Now, what are these substitutions of science, in our knowl- 

 edge of men and things, for a relative ignorance ? Of the newer 

 and better for the old and worn-out in political institutions ? Of 

 the new art and literature of broader life for that which stood 

 for simpler feelings and ideas ? Of the future of all things hu- 

 man for their past ? They are simply the details of the one all- 

 including change by which the social organism is passing from 

 "militancy" into "industrialism," That change in which the 

 life of destructive violence, inherited from the brute creation, is 

 giving place to the life of productive labor we call civilization. 

 And, if what is true of these details is true, as it must be, of 

 their collective sum, then the evolution of "industrialism" is 

 constantly suffering reimxlation from the persistence of estab- 

 lished " militancy." 



This is the generalization at which we aimed. Commercial 

 depression is due to the retardation of industrial growth pro- 

 duced by the survival of militant organization. 



There is but one test for the validity of all theories, and that 

 is their application to the facts of which they treat. To fulfill 

 this test in the case before us, let us turn our attention to 

 Europe, whence the cry of commercial depression has for some 

 years been exceptionally acute. 



We find there an armed camp of nations in constant readi- 

 ness for war ; the fruits of the tireless labors of the people drawn 

 off for the nourishment and support of ever-increasing military 

 organization, so that every year turns what should be the re- 

 ward of growing wealth into accumulating public debt ; mili- 

 tancy in the prepondering forms of government ; militancy in 

 international relations, successful militancy the ruling ambition 

 at the sacrifice of all industrial aims ! But, bear in mind, it is no 

 longer militancy in its prime — like that of Macedonia or Rome. 

 It is modern militancy, riddled through and rotted at the core 

 by civilization. Not one of the great nations, wasting its sub- 

 stance in the costly armament of war, can ever get a return on 

 the fatal investment. The day for enslaving neighboring states 

 and living on the fruits of battle is past. Every costly struggle 

 of the century has left the combatants poorer and retarded their 

 growth. Where are the fruits, to the prosperity of France, of 

 Napoleon's fabulous conquests ? to England, of the Crimean 

 war ? to Germany, of the war of 1870 ? to Russia, of her struggle 

 with the Turk ? Not one of the parties to these wars has fat- 

 tened on the spoils of the enemy, and all have been joint losers 



