of the ruling class would be endangered with those of society as a whole, but under no circumstances has it assumed, or could it ever assume, these functions in such a manner as to endanger the overlordship of the capitalist class.
If the modern state nationalizes certain industries, it does not do so for the purpose of restricting capitalist exploitation, but for the purpose of protecting the capitalist system and establishing it upon a firmer basis, or for the purpose of itself taking a hand in the exploitation of labor, increasing its own revenues, and thereby reducing the contributions for its own support which it would otherwise have to impose upon the capitalist class. As an exploiter of labor, the state is superior to any private capitalist. Besides the economic power of the capitalists, it can also bring to bear upon the exploited classes the political power which it already wields.
The state has never carried on the nationalizing of industries further than the interests of the ruling classes demanded, nor will it ever go further than that. So long as the property-holding classes are the ruling ones, the nationalization of industries and capitalist functions will never be carried so far as to injure the capitalists and landlords or to restrict their opportunities for exploiting the proletariat.
The state will not cease to be a capitalist institution until the proletariat, the working-class, has become the ruling class; not until then will it become possible to turn it into a co-operative commonwetlth.
From the recognition of this fact is born the
