great industry was implanted in this country. But the accumulation of wealth in the hands of the privileged classes was going on at a speed never dreamed of before. The incredible riches which now astonish the foreigner in the private houses of England were accumulated during that period; the exceedingly expensive standard of life which makes a person considered rich on the Continent appear as only of modest means in Britain was introduced during that time. The taxed property alone doubled during the last thirty years of the above period, while, during the same years (1810 to 1878) no less than £1,112,000,000 — nearly £2,000,000,000 by this time — was invested by English capitalists either in foreign industries or in foreign loans.1
But the monopoly of industrial production could not remain with England for ever. Neither industrial knowledge nor enterprise could be kept for ever as a privilege of these islands. Necessarily, fatally, they began to cross the Channel and spread over the Continent. The Great Revolution had created in France a numerous class of peasant proprietors, who enjoyed nearly half a century of a comparative well-being, or, at least, of a guaranteed labour. The ranks of homeless town workers increased slowly. But the middle-class revolution of 1789–1793 had already made a distinction between the peasant householders and the village prolétaires, and, by favouring the former to the detriment of the latter, it compelled the labourers who had no household nor land to abandon their villages, and thus to form the first nucleus of working classes given up to the mercy of manufacturers. Moreover, the peasant-proprietors themselves, after having enjoyed a period of undeniable prosperity, began in their turn to feel the pressure of bad times, and their children were compelled to look for employment in manufactures. Wars and revolution had checked the growth of industry; but it began to grow again during the second half of our century; it developed, it improved; and now, notwithstanding the loss of Alsace, France is no longer the tributary to England for manufactured produce which she was sixty years ago. Today her exports of manufactured goods are valued at nearly one-half