11 JULY 1908, Page 2

On one point we are in agreement with Mr. Snowden.

We want to see a better distribution of wealth, and we want to make the poor not only comparatively but absolutely richer. We are convinced, however, that the way to do this is not to check accumulation by paralysing the enterprise of the capitalist, or by squandering the moral and material assets of the nation, but rather to increase the assets and stimulate the economic efforts of the individual. The essential is to get more of the things that men desire, not less of them, and the way to get more is to give men incentives to work. One of these incentives, and by far the most efficient of them, is the reward of work which °onside in being able to spend one's

own earnings in one's own way. We want to make men keener, not leas keen, about "putting their backs into their work." If that is achieved, we may so greatly increase the total product of the world as to provide far more material comforts and more accumulation of wealth than exist at present. Remember that with the ancumulation of wealth, interest—that is, the wages of capital—is bound to fall and the wages of labour to rise. The heavily taxed, semi- Socialistic State is not the worker's paradise, though it may in the end be the capitalist's.