freeing the social productive forces from the fetters of an antiquated social order, and the actual producers, the great mass of the people, from wage-slavery. And because free trade is the natural, the normal atmosphere for this historical evolution, the economic medium in which the conditions for the inevitable social revolution will be the soonest created—for this reason, and for this alone, did Marx declare in favor of free trade.
Anyhow, the years immediately following the victory of free trade in England seemed to verify the most extravagant expectations of prosperity founded upon that event. British commerce rose to a fabulous amount; the industrial monopoly of England on the market of the world seemed more firmly established than ever; new iron works, new textile factories, arose by wholesale; new branches of industry grew up on every side. There was, indeed, a severe crisis in 1857, but that was overcome, and the onward movement in trade and manufactures was soon again in full swing, until in 1866 a fresh panic occurred, a panic, this time, which seems to mark a new departure in the economic history of the world.
The unparalleled expansion of British manufactures and commerce between 1848 and 1866 was no doubt due, to a great extent, to the removal of the protective duties on food and raw materials. But not entirely. Other important changes took place simultaneously and helped it on. The above years comprise the discovery and working of the Californian and Australian gold fields which increased so immensely the circulating medium of the world; they mark the final victory of steam over all other means of transport; on the ocean, steamers now superseded sailing vessels; on land in all civilized countries, the railroad took the first place, the macadamized road the second; transport now became four times quicker
