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you found so interesting and sympathetic; Lloyd George and Lord
Northcliffe; for example; belong。  It is the Britain of the great
effort; the Britain of the smoking factories and the torrent of
munitions; the Britain of the men and subalterns of the new
armies; the Britain which invents and thinks and achieves; and
stands now between German imperialism and the empire of the
world。  I do not want to exaggerate the quality of greater
Britain。  If the inner set are narrowly educated; the outer set
if often crudely educated。  If the inner set is so close knit as
to seem like a conspiracy; the outer set is so loosely knit as to
seem like a noisy confusion。  Greater Britain is only beginning
to realise itself and find itself。  For all its crudity there is
a giant spirit in it feeling its way towards the light。  It has
quite other ambitions for the ending of the war than some haggled
treaty of alliance with France and Italy; some advantage that
will invalidate German competition; it begins to realise newer
and wider sympathies; possibilities of an amalgamation of
interests and community of aim that is utterly beyond the habits
of the old oligarchy to conceive; beyond the scope of that tawdry
word 'Empire' to express。。。。〃

I descended from my rhetoric to find M。 Reinach asking how and
when this greater Britain was likely to become politically
effective。


V。 THE SOCIAL CHANGES IN PROGRESS


1

〃Nothing will be the same after the war。〃  This is one of the
consoling platitudes with which people cover over voids of
thought。  They utter it with an air of round…eyed profundity。
But to ask in reply; 〃Then how will things be different?〃  is in
many cases to rouse great resentment。  It is almost as rude as
saying; 〃Was that thought of yours really a thought?〃

Let us in this chapter confine ourselves to the social…economic
processes that are going on。  So far as I am able to distinguish
among the things that are being said in these matters; they may
be classified out into groups that centre upon several typical
questions。  There is the question of 〃How to pay for the war?〃
There is the question of the behaviour of labour after the war。
〃Will there be a Labour Truce or a violent labour struggle?〃
There is the question of the reconstruction of European industry
after the war in the face of an America in a state of monetary
and economic repletion through non…intervention。  My present
purpose in this chapter is a critical one; it is not to solve
problems but to set out various currents of thought that are
flowing through the general mind。  Which current is likely to
seize upon and carry human affairs with it; is not for our
present speculation。

There seem to be two distinct ways of answering the first of the
questions I have noted。  They do not necessarily contradict each
other。  Of course the war is being largely paid for immediately
out of the accumulated private wealth of the past。  We are buying
off the 〃hold…up〃 of the private owner upon the material and
resources we need; and paying in paper money and war loans。  This
is not in itself an impoverishment of the community。  The wealth
of individuals is not the wealth of nations; the two things may
easily be contradictory when the rich man's wealth consists of
land or natural resources or franchises or privileges the use of
which he reluctantly yields for high prices。  The conversion of
held…up land and material into workable and actively used
material in exchange for national debt may be indeed a positive
increase in the wealth of the community。  And what is happening
in all the belligerent countries is the taking over of more and
more of the realities of wealth from private hands and; in
exchange; the contracting of great masses of debt to private
people。  The nett tendency is towards the disappearance of a
reality holding class and the destruction of realities in
warfare; and the appearance of a vast /rentier/ class in its
place。  At the end of the war much material will be destroyed for
evermore; transit; food production and industry will be
everywhere enormously socialised; and the country will be liable
to pay every year in interest; a sum of money exceeding the
entire national expenditure before the war。  From the point of
view of the state; and disregarding material and moral damages;
that annual interest is the annual instalment of the price to be
paid for the war。

Now the interesting question arises whether these great
belligerent states may go bankrupt; and if so to what extent。
States may go bankrupt to the private creditor without
repudiating their debts or seeming to pay less to him。  They can
go bankrupt either by a depreciation of their currency or
without touching the gold standardthrough a rise in prices。  In
the end both these things work out to the same end; the creditor
gets so many loaves or pairs of boots or workman's hours of
labour for his pound /less/ than he would have got under the
previous conditions。  One may imagine this process of price (and
of course wages) increase going on to a limitless extent。  Many
people are inclined to look to such an increase in prices as a
certain outcome of the war; and just so far as it goes; just so
far will the burthen of the /rentier/ class; their call; tat
is; for goods and services; be lightened。  This expectation is
very generally entertained; and I can see little reason against
it。  The intensely stupid or dishonest 〃labour〃 press; however;
which in the interests of the common enemy misrepresents
socialism and seeks to misguide labour in Great Britain; ignores
these considerations; and positively holds out this prospect of
rising prices as an alarming one to the more credulous and
ignorant of its readers。

But now comes the second way of meeting the after…the…war
obligations。  This second way is by increasing the wealth of the
state and by increasing the national production to such an extent
that the payment of the /rentier/ class will not be an
overwhelming burthen。  Rising prices bilk the creditor。
Increased production will check the rise in prices and get him a
real payment。  The outlook for the national creditor seems to be
that he will be partly bilked and partly paid; how far he will be
bilked and how far depends almost entirely upon this possible
increase in production; and there is consequently a very keen and
quite unprecedented desire very widely diffused among intelligent
and active people; holding War Loan scrip and the like; in all
the belligerent countries; to see bold and hopeful schemes for
state enrichment pushed forward。  The movement towards socialism
is receiving an impulse from a new and unexpected quarter; there
is now a /rentier/ socialism; and it is interesting to note
that while the London /Times/ is full of schemes of great
state enterprises; for the exploitation of Colonial state lands;
for the state purchase and wholesaling of food and many natural
products; and for the syndication of shipping and the great
staple industries into vast trusts into which not only the
British but the French and Italian governments may enter as
partners; the so…called socialist press of Great Britain is
chiefly busy about the draughts in the cell of Mr。 Fenner
Brockway and the refusal of Private Scott Duckers to put on his
khaki trousers。  /The New Statesman/ and the Fabian Society;
however; display a wider intelligence。

There is a great variety of suggestions for this increase of
public wealth and production。  Many of them have an extreme
reasonableness。  The extent to which they will be adopted
depends; no doubt; very largely upon the politician and permanent
official; and both these classes are prone to panic in the
presence of reality。  In spite of its own interests in
restraining a rise in prices; the old official 〃salariat〃 is
likely to be obstructive to any such innovations。  It is the
resistance of spurs and red tabs to military innovations over
again。  This is the resistance of quills and red tape。  On the
other hand the organisation of Britain for war has 〃officialised〃
a number of industrial leaders; and created a large body of
temporary and adventurous officials。  They may want to carry on
into peace production the great new factories the war has
created。  At the end of the war; for example; every belligerent
country will be in urgent need of cheap automobiles for farmers;
tradesmen; and industrial purposes generally; America is now
producing such automobiles at a price of eighty pounds。  But
Europe will be heavily in debt to America; her industries will be
disorganised; and there will therefore be no sort of return
payment possible for these hundreds of thousands of automobiles。
A country that is neither creditor nor producer cannot be an
importer。  Consequently though those cheap tin cars may be
stacked as high as the Washington Monument in America; they will
never come to Europe。  On the other hand the great shell
factories of Europe will be standing idle and ready; their staffs
disciplined and available; for conversion to the new task。  The
imperative common sense of the position seems to be that the
European governments should set themselves straight awa

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