"COMBINATIONS OF CAPITAL AND LABOUR."
[TO THB EDITOR OF THE "SPECTATOR."] SIR,—Your note at the end of "Economist's" letter on the above subject in this week's Spectator answers, to my satisfaction, his mistaken criticism on one part of my letter of the previous week. There is, however, another point on which he has misapprehended me, and on which I think it necessary to correct him. When I speak of "eliminating the capitalist," I mean eliminating the capitalist ; I do not mean " the substitution of many small capitalists for a few large ones," as he unwarrantably assumes I do. For the individual capitalist I would substitute the State, and the State power I would transfer from its present holders, the middle and upper classes, into the hands of the working- class.—I am, Sir, &c.,
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