294 REPORTS ON THE STATE OF SCIENCE. — 1920. 



16. Industry and Commerce. 



Industry the life-blood of a nation. Upon it depend the interest and influence 



of national life — its value in development of character. But neither 



industry nor commerce free from danger. 

 The plea ' Business is business,' like the plea ' War is war,' may be u^ed to 



justify evil means and evil ends. 

 No nation secure without trade, yet trade by itself may lower the national 



standard of duty. Free Trade expresses the natural relation between 



countries, each country supplying what other countries need and getting 



in return from them what it needs itself. 

 The world would be happiest if all the world were pacific and all Free Trading. 



Speeches of Cobden and Bright. But so long as there is danger of one 



nation attacking another, Free Trade qualified by the necessity of a 



country being, or so far as possible being made to be, self-supporting. 

 Thus the decay of agriculture might imperil the national safety, as the War 



has shown. It may be worth while to support agriculture even if the 



support somewhat raises the price of bread. 

 Value of coal-fields. 



Change in the character of great industries. 



Personal relations between employers and employed greatly impaired. 

 Origin of ' combines.' 

 Necessity for restoring a friendly feeling and confidence among all persons 



engaged in the same industry. 

 Co-partnership and profit-sharing. 



Arguments for and against the Nationalisation of main industries. 

 Nationalisation not a question of right or wrong, but of expediency ; will it 



tend to the efliciency of the industries nationalised ? To be considered 



from point of view of national, not sectional, interests. 

 True conception of wealth. Adam Smith. 

 Exports and imports. Invisible exports. 

 Increased production the remedy for high prices. 

 Creation of new industries, application of science — electric, gas, dye industries. 



Without progressive science, laboiir and capital cannot play their part 



in modern life. 

 Discouragement of fraud in all relations of life and business. 

 Importance to nation of effective, honest, and intelligent working of all forms 



of business or industry. 

 Disasters resulting from mismanagement or fraud. 

 The credit attaching to British honesty and thoroughness the chief asset in 



the British trade. 

 Industrial and social reconstruction. 

 Development of various resources. 

 Co-operation and co-operative societies. 



Crafts and Industrial Unionism. Arbitration. Wage Boards. Factors deter- 

 mining rates of wages. The living wage. The duty of every member 



of a Union to abide by its agreements. 

 Industrial Councils. Employers' Liability, Workmen's Compensation, Factory 



Acts. Welfare work. Strikes. Direct action. 

 Guild Socialism. Syndicalism. 

 Duty of community to sympathise with every effort of the workers to improve 



their conditions and develop their intelligence. 



17. International Relations. 



Nations have historically regarded each other as enemies, but they are really 

 friends. Their interests are reciprocal, if not identical. 



Different origins of wars between nations, racial, territorial, religious, com- 

 mercial, but all proceeding from the same spirit. 



The comity of nations an ideal newly acquired or newly realised. 



The word ' international ' not found earlier than in Bentham's writings. 



' International law ' a misleading phrase, as it implies a sanction which does not 

 exist. 



