world than that in which we live. I do not, however, regard either of them as the best practicable system. Marxian Socialism, I fear, would give far too much power to the State, while Syndicalism, which aims at abolishing the State, would, I believe, find itself forced to reconstruct a central authority in order to put an end to the rivalries of different groups of producers. The BEST practicable system, to my mind, is that of Guild Socialism, which concedes what is valid both in the claims of the State Socialists and in the Syndicalist fear of the State, by adopting a system of federalism among trades for reasons similar to those which are recommending federalism among nations. The grounds for these conclusions will appear as we proceed.
Before embarking upon the history of recent movements In favor of radical reconstruction, it will be worth while to consider some traits of character which distinguish most political idealists, and are much misunderstood by the general public for other reasons besides mere prejudice. I wish to do full justice to these reasons, in order to show the more