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 of the idle; surely the abstraction of £400,000,000 annually for interest can hardly act as an incitement to those whose labor returns are diminished to that extent. (c) That the real incitement to work is the desire to possess the result of labor, and that the more completely that desire is satisfied the greater will the incitement become. Would the incitement to tramcar employees be lessened, if the necessity of paying 10 per cent. on shareholders' capital no longer kept down their wages? But, in truth, this argument as to incitement to workers is either ignorant, or disingenuous. The mainspring of the worker's toil is, as a matter of fact, compulsion, not the incitement of hope of reward. Had he control over the product of his own labor, then the desire to obtain more might incite him to work harder, as, indeed, has been found to be the case with piece-work, and in co-operative undertakings: with his fixed wage it is to him a matter of indifference how much or how little he produces. The desire for interest is an incitement to the capitalist to press his wage-toilers to work harder, so that after he has satisfied his own power of consumption he may lay by all the surplus value he can squeeze out of them, and increase the capital he has out at interest. The higher the interest obtainable, the greater the compulsion to work put upon the producers. But this compulsion is clearly an evil, not a good, and in the case of the tramcar employees just cited, it is compulsion which forces them to accept the long hours of labor, and the compulsion is exercised in order to obtain interest for the shareholders.

"The incitement to thrift will disappear." But (a) the interest obtainable by "thrift" is too small to serve as an incitement, for the savings of the industrious poor are not sufficient to give interest enough to subsist on. The Savings Banks are resorted to as a convenient place wherein to put money saved for future use; it is the safe keeping of the money "for a rainy day", not the trifling interest, which is the attraction to the anxious poor. The small amount permitted to an individual and the low interest are sufficient proofs of this assertion; no one must put in more than £30 in a year, the interest is only 2½ per cent., and this is not paid yearly, but is added to the principal. And this future necessity is the real incitement to thrift. A man earns, say, sufficient this week to support himself for a fortnight; having satisfied his needs, he does not want to satisfy them