the vested interests and the common man-第4章

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fault　lies　not　in　the　nature　of　these　untoward　institutions　of　
national　sovereignty　and　vested　rights；　nor　in　those　principles　
of　self…help　which　underlie　them；　but　only　in　those　latter…day　
facts　which　stubbornly　refuse　to　fall　into　such　lines　as　these　
forms　of　human　enterprise　require　for　their　perfect　and　
beneficent　working。　The　facts；　particularly　the　facts　of　industry　
and　science；　have　outrun　these　provisions　of　law　and　custom；　and　
so　the　scheme　of　things　has　got　out　of　joint　by　that　much；　
through　no　inherent　weakness　in　the　underlying　principles　of　law　
and　custom。　The　ancient　and　honorable　principles　of　self…help　are　
as　sound　as　ever；　it　is　only　that　the　facts　have　quite　
unwarrantably　not　remained　the　same。　The　fault　lies　in　the　
latter…day　facts；　which　have　not　continued　in　suitable　shape。　
Such；　in　effect；　has　been　the　view　habitually　spoken　for　by　many　
thoughtful　persons　of　a　conservative　turn；　who　take　an　interest　
in　concerting　measures　for　holding　fast　that　which　once　was　good；　
in　the　face　of　distasteful　facts。　
　　　　The　vested　right　of　ownership　in　all　kinds　of　property　has　
the　sanction　of　the　time…honored　principles　of　individual　
self…direction；　equal　opportunity；　free　contract；　security　of　
earnings　and　belongings；　self…help；　in　the　simple　and　honest　
meaning　of　the　word。　It　would　be　quite　bootless　to　find　fault　
with　these　reasonable　principles　of　tolerance　and　security。　Their　
definitive　acceptance　and　stabilisation　in　the　eighteenth　century　
are　among　the　illustrious　achievements　of　Western　civilisation；　
and　their　roots　lie　deep　in　the　native　wisdom　of　mankind。　They　
are　obvious　corollaries　under　the　rule　of　Live　and　let　live；　　
an　Accidental　version　of　the　Golden　Rule。　Yet　in　practical　effect　
those　vested　rights　which　rest　blamelessly　on　these　reasonable　
canons　of　tolerance　and　good　faith　have　today　become　the　focus　of　
vexation　and　misery　in　the　life　of　the　civilised　peoples。　
Circumstances　have　changed　to　such　effect　that　provisions　which　
were　once　framed　to　uphold　a　system　of　neighborly　good…will　have　
now　begun　to　run　counter　to　one　another　and　are　working　mischief　
to　the　common　good。　
　　　　Any　impartial　survey　of　the　past　one…hundred…fifty　years　will　
show　that　the　constituent　principles　of　this　modern　point　of　view　
governing　the　mutual　rights　and　obligations　of　men　within　the　
civilised　nations　have　held　their　ground；　on　the　whole；　without　
material　net　gain　or　net　loss。　It　is　the　ground　of　Natural　
Rights；　of　self…help　and　free　bargaining。　Civil　rights　and　the　
perquisites　and　obligations　of　ownership　have　remained　
substantially　intact　over　this　interval　of　a　hundred　and　fifty　
years；　but　with　some　slight　advance　in　the　way　of　Live　and　let　
live　at　certain　points；　and　some　slight　retrenchment　at　other　
points。　So　far　as　regards　the　formal　stipulations；　in　law　and　
custom；　the　balance　of　class　interests　within　these　countries　
has；　on　the　whole；　not　been　seriously　disturbed。　In　this　system　
of　Natural　Rights；　as　it　has　worked　out　in　practice；　the　rights　
of　ownership　are　paramount；　largely　because　the　other　personal　
rights　in　the　case　have　come　to　be　a　matter　of　course　and　so　have　
ceased　to　hold　men's　attention。　
　　　　So；　in　the　matter　of　the　franchise；　e。g。；　the　legal　
provisions　more　nearly　meet　the　popular　ideals　of　the　modern　
point　of　view　today　than　ever　before。　An　the　other　hand　the　
guiding　principles　in　the　case　at　certain　other　points　have　
undergone　a　certain　refinement　of　interpretation　with　a　view　to　
greater　ease　and　security　for　trade　and　investment；　and　there　
has；　in　effect；　been　some　slight　abridgement　of　the　freedom　of　
combination　and　concerted　action　at　any　point　where　an　unguarded　
exercise　of　such　freedom　would　hamper　trade　or　curtail　the　
profits　of　business；　　for　the　modern　era　has　turned　out　to　be　
an　era　of　business　enterprise；　dominated　by　the　paramount　claims　
of　trade　and　investment。　In　point　of　formal　requirements；　these　
restrictions　imposed　on　concerted　action　〃in　restraint　of　trade〃　
fall　in　equal　measure　on　the　vested　interests　engaged　in　business　
and　on　the　working　population　engaged　in　industry。　So　that　the　
measures　taken　to　safeguard　the　natural　rights　of　ownership　apply　
with　equal　force　to　those　who　own　and　those　who　do　not。　〃The　
majestic　equality　of　the　law　forbids　the　rich　as　well　as　the　poor　
to　sleep　under　bridges　or　to　beg　on　the　street　corners。〃　But　it　
has　turned　out　on　trial　that　the　vested　interests　of　business　are　
not　seriously　hampered　by　these　restrictions；　inasmuch　as　any　
formal　restriction　on　any　concerted　action　between　the　owners　of　
such　vested　interests　can　always　be　got　around　by　a　formal　
coalition　of　ownership　in　the　shape　of　a　corporation。　The　
extensive　resort　to　corporate　combination　of　ownership；　which　is　
so　marked　a　feature　of　the　nineteenth　century；　was　not　foreseen　
and　was　not　taken　into　account　in　the　eighteenth　century；　when　
the　constituent　principles　of　the　modern　point　of　view　found　
their　way　into　the　common　law。　The　system　of　Natural　Rights　is　a　
system　of　personal　rights；　among　which　the　rights　of　ownership　
are　paramount；　and　among　the　rights　of　ownership　is　the　right　of　
free　disposal　and　security　of　ownership　and　of　credit　
obligations。　
　　　　The　same　line　of　evasion　is　not　available　in　the　same　degree　
for　concerted　action　between　persons　who　own　nothing。　Still；　in　
neither　case；　neither　as　regards　the　owners　of　the　country's　
wealth　nor　as　regards　the　common　man；　can　these　restrictions　on　
personal　freedom　of　action　be　said　to　be　a　serious　burden。　And　
any　slight　mutilation　or　abridgement　of　the　rule　of　self…help　in　
their　economic　relations　has　been　offset　by　an　increasingly　broad　
and　liberal　construction　of　the　principles　of　self…direction　and　
equality　among　men　in　their　civil　capacity　and　their　personal　
relations。　Indeed；　the　increasingly　exacting　temper　of　the　common　
man　in　these　countries　during　this　period　has　made　such　an　
outcome　unavoidable。　By　and　large；　in　its　formal　vindication　of　
personal　liberty　and　equality　before　the　law；　the　modern　point　of　
view　has　with　singular　consistency　remained　intact　in　the　shape　
in　which　its　principles　were　stabilised　in　the　eighteenth　
century；　in　spite　of　changing　circumstances。　In　point　of　formal　
compliance　with　their　demands；　the　enlightened　ideals　of　the　
eighteenth　century　are；　no　doubt；　more　commonly　realised　in　
practice　today　than　at　any　earlier　period。　So　that　the　modern　
civilised　countries　are　now；　in　point　of　legal　form　and　perhaps　
also　in　practical　effect；　more　nearly　a　body　of　ungraded　and　
masterless　men　than　any　earlier　generation　has　known　how　to　be。　
　
　　　　In　this　modern　era；　as　well　as　elsewhere　and　in　other　times；　
the　circumstances　that　make　for　change　and　reconstruction　have　
been　chiefly　the　material　circumstances　of　everyday　life；　　
circumstances　affecting　the　ordinary　state　of　industry　and　
ordinary　intercourse。　These　material　circumstances　have　changed　
notably　during　the　modern　era。　There　has　been　a　progressive　
change　in　the　state　of　the　industrial　arts；　which　has　materially　
altered　the　scope　and　method　of　industry　and　the　conditions　under　
which　men　live　in　all　the　civilised　countries。　Accordingly；　as　a　
point　of　comparison；　it　will　be　to　the　purpose　to　call　to　mind　
what　were　the　material　circumstances；　and　more　particularly　the　
state　of　the　industrial　arts；　which　underlay　and　gave　character　
to　the　modern　point　of　view　at　the　period　when　its　constituent　
principles　were　found　good　and　worked　out　as　a　stable　and　
articulate　system；　in　the　shape　in　which　they　have　continued　to　
be　held　since　then。　
　　　　The　material　conditions　of　industry；　trade　and　daily　life　
during　the　period　of　transition　and　approach　to　this　modern　
ground　created　that　frame　of　mind　which　we　call　the　modern　point　
of　view　and　dictated　that　reconstruction　of　institutional　
arrangements　which　has　been　worked　out　under　its　guidance。　
Therefore　the　economic　situation　which　so　underlay　and　
conditioned　this　modern　point　of　view　at　the　period　when　it　was　
given　its　stable　form　becomes　the　necessary　point　of　departure　
for　any　argument　bearing　on　the　changes　that　have　been　going　
forward　since　then；　or　on　any　prospective　reconstruction　that　may　
be　due　to　follow　from　these　changed　conditions　in　the　calculable　
future。　An　this　head；　the　students　of　history　are　in　a　singularly　
fortunate　position。　The　whole　case　is　set　forth　in　the　works　of　
Adam　Smith；　with　a　comprehension　and　lucidity　which　no　longer　
calls　for　praise。　Beyond　all　other　men　Adam　Smith　is　the　approved　
and　faithful　spokesman　of　this　modern　point　of　view　in　all　that　
concerns　the　economic　situation　which　it　assumes　as　its　material　
ground；　and　his　description　of　the　state　of　civilised　society；　
trade　and　industry；　as　he　saw　it　in　his　time　and　as　he　wished　it　
to　stand　over　into　the　future；　is　to　be　taken　without　abatement　
as　a　competent　exposition　of　those　material　conditions　which　were　
then　conceived　to　underlie　civilised　society　and　to　dictate　the　
only　sound　reconstruction　of　civil　and　economic　institutions　
according　to　the　modern　plan。　
　　　　But　like　other　men。　Adam　Smith　was　a　creature　of　his　own　
time；　and　what　he　has　to　say　applies　to　the　state　of　things　as　he　
saw　them。　What　he　describes　and　inquires　into　is　that　state　of　
things　which　was　to　him　the　〃historical　present〃；　which　always　
signifies　the　recent　past；　　that　is　to　say；　the　past　as　it　had　
come　under　his　observation　and　as　it　had　shaped　his　outlook。　
　　　　As　it　is　conventionally　dated；　the　Industrial　Revolution　took　
effect　within　Adam　Smith's　active　lifetime；　and　some　of　its　more　
significant　beginnings　passed　immediately　under　his　eyes；　indeed；　
it　is　related　that　he　took　an　active　personal　interest　in　at　
least　one　of　the　epoch…making　mechanical　inventions　from　which　
the　era　of　the　machine　industry　takes　its　date。　Yet　the　
Industrial　Revolution　does　not　lie　within　Adam　Smith's　
〃historical　present；〃　nor　does　his　system　of　economic　doctrines　
make　provision　for　any　of　its　peculiar　issues。　What　he　has　to　say　
on　the　mechanics　of　industry　is　conceived　in　terms　derived　from　
an　older　order　of　things　than　that　machine　industry　which　was　
beginning　to　get　under　way　in　his　own　life…time；　and　all　his　
illustrative　instances　and　arguments　on　trade　and　industry　are　
also　such　as　would　apply　to　the　state　of　things　that　was　passing；　
but　they　are　not　drawn　with　any　view　to　that　new　order　which　was　
then　coming　on　in　the　world　of　business　enterprise。　
　　　　The　economic　situation　contemplated　by　Adam　Smith　as　the　
natural　（and　ultimate）　state　of　industry　and　trade　in　any　
enlightened　society；　conducted　on　sane　and　sound　lines　according　
to　the　natural　order　of　human　relations；　was　of　a　simple　
structure　and　may　be　drawn　in　few　lines；　　neglecting　such　minor　
extensions　and　exceptions　as　would　properly　be　taken　account　of　
in　any　exhaustive　description。　Industry　is　conceived　to　be　of　the　
nature　of　handicraft；　not　of　the　nature　of　mechanical　
engineering；　such　as　it　has　in　effect　and　progressively　come　to　
be　since　his　time。　It　is　described　as　a　matter　of　workmanlike　
labor；　〃