of field labourers. The first blast of factory production threw out of work the whole body of cottage weavers, smiths, craftsmen; and the result was a great mass of men, women, and children without defense, void of all rights, and given the alternative of submission to the dominance of the exploiters, or starvation.
Without capital the new industry could neither begin nor continue. The exploits of the "joint-stock companies" invented and perfected in the eighteenth century, showed how this capital could easily be obtained, while the paralyzing and dismemberment of the Church during the Reformation had resulted in the abrogation of the old ecclesiastical inhibition against usury. The necessary capital was forthcoming, and the foundations were laid for the great system of finance which was one of the triumphant achievements of the last century.
The question of markets was more difficult. It was clear that, through machinery, the exploitation of labour, and the manipulations of finance, the product would be enormously greater than the local or national demand. Until they themselves developed their own industrial system, the other nations of Europe were available, but as this process proceeded other markets had to be found; the result was achieved through advertising, i.e., the stimulating in the minds of the general public of a covetousness for something they had not known of and did not need, and the exploiting of barbarous or undeveloped races in Asia, Africa, Oceanica. This last task was easily achieved through "peaceful penetration" and the pre?mpting of "spheres of influence." In the end (i.e., A.D. 1914), the whole world had so been divided, the stimulated markets showed signs of repletion, and since exaggerated profits meant increasing capital demanding investment, and the improvement in "labour-saving" devices continued unchecked, the contest for others' markets became acute, and world-politic was concentrated on the vital problem of markets, lines of communication, and tariffs.
As for the finding or development of competent organizers and directors, the history of the world since the end of medievalism had curiously provided for this after a fashion that seemed almost miraculous. The type required was different from anything that had been developed before. Whenever the qualitative standard had been operative, it was necessary that the leaders in any form of creative action should be men of highly developed intellect, fine sensibility, wide and penetrating vision, nobility of instinct, passion for righteousness, and a consciousness of the eternal force of charity, honour, and service. During the imperial or decadent stages, courage, dynamic force, the passion for adventure, unscrupulousness in the matter of method, took the place of the qualities that marked the earlier periods. In the first instance the result was the great law-givers, philosophers, prophets, religious leaders, and artists of every sort; in the second, the great conquerors. Something quite different was now demanded--men who possessed some of the qualities needed for the development of imperialism, but who were unhampered by the restrictive influences of those who had sought perfection. To organize and administer the new industrial-financial-commercial r��gime, the leaders must be shrewd, ingenious, quick-witted, thick-skinned, unscrupulous, hard-headed, and avaricious; yet daring, dominating, and gifted with keen prevision and vivid imagination. These qualities had not been bred under any of the Mediterranean civilizations, or that of Central Europe in the Middle Ages, which had inherited so much therefrom. The pursuit of perfection always implies a definite aristocracy, which is as much a goal of effort as a noble philosophy, an august civil polity or a great art. This aristocracy was an accepted and indispensable part of society, and it was always more or less the same in principle, and always the centre and source of leadership, without which society cannot endure. It is true that at the hands of Christianity it acquired a new quality, that of service as contingent on privilege--one might almost say of privilege as contingent on service--and the ideals of honour, chivalry, compassion were established as its object and method of operation even though these were not always achieved, but the result was not a new creation; it was an institution as old as society, regenerated and transformed and playing a greater and a nobler part than ever before.
Between the years 1455 and 1795 this old aristocracy was largely exterminated. The Wars of the Roses, the massacres of the Reformation, and the Civil Wars in England; the Thirty Years' War in Germany; the Hundred Years' War, the Wars of Religion, and the Revolution in France had decimated the families old in honour, preserving the tradition of culture, jealous of their alliances and their breeding--the natural and actual leaders in thought and action. England suffered badly enough as the result of war, with the persecutions of Henry VIII, Edward VI and Elizabeth, and the Black Death, included for full measure. France suffered also, but Germany fared worst
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