mismanagement. It is true that the remuneration which the labourer takes under the name of wages is naturally determined by the competition of labourers; the profit which the capitalist appropriates is equally determined by the competition of capital. But there is one cause which gives the possessor of capital a great advantage over the labourer-the comparative ease with which his capital may be transferred from one object to another, from one centre of industry to another, from one country to another, when compared with the facilities with which labour can seek a better market. In order to sustain or succour this weakness of labour, combinations have, as we know, been entered into among labourers, which seek to fix the price and regulate the process of labour. These practices are an interference with economical laws, and it may be doubted whether labour has been really benefited by the expedient. The true processes by which the problem of the remuneration of labour can be interpreted are the development of those means by which labour can seek its own market, and the union of capital and labour in the same persons, under the system of co-operation." (Professor THOROLD ROGERS).

Co-operation is "self-help," whereas Socialism is only another attempt to get help from others. In To-clay, March, 1884, that true friend of the working classes, Leclaire, is called 'the shrewd philanthropist,' the co-operator's 'great man,' who got his capitalist reward. We are told that on entering one of the co-operative establishments, the first thing that meets the eye is a list of ' regulations,' if anything, more stringent than those of an ordinary workshop, indicating longer hours and harder work.