of castes and guilds, the industrial organization has been modified and developed up to the modern system. Some men have been found to denounce and deride the modern system—what they call the capitalist system. The modern system is based on liberty, on contract, and on private property. It has been reached through a gradual emancipation of the mass of mankind from old bonds both to Nature and to their fellow-men. Village communities, which excite the romantic admiration of some writers, were fit only for a most elementary and unorganized society. They were fit neither to cope with the natural difficulties of winning much food from little land, nor to cope with the malice of men. Hence they perished. In the modern society the organization of labor is high. Some are land-owners and agriculturists, some are transporters, bankers, merchants, teachers; some advance the product by manufacture. It is a system of division of functions, which is being refined all the time by subdivision of trade and occupation, and by the differentiation of new trades.
The ties by which all are held together are those of free co-operation and contract. If we
